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DE MAKELAARS

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Private limited companyfounded 2023active for 3 yearsEngelse Wandeling(Kor) 2, 8500 Kortrijk, BelgiumKBO/BCE: BE 0801.154.573

Financials · financial year 2026, abbreviated format

Annual accounts 2026 filed on 20-10-2026 at the NBB all 2 filings

Turnover
≈ €4,700
Estimated: probably between €2,100 and €12,000
Total assets
€75,691▲ 66.2%
2025 · €45,545
Net result
€671▼ 71.4%
2025 · €2,350
Working capital
€21,022▲ 3.3%
2025 · €20,350
Multi-year overview
2025 to 2026, 2 financial years
Operating result
€1,044
▼ 76.4% 2026
20252026
Net result
€671
▼ 71.4% 2026
20252026
Equity
€21,022
▲ 3.3% 2026
20252026
Total assets
€75,691
▲ 66.2% 2026
20252026
Debt
€54,670
▲ 117% 2026
20252026
Working capital
€21,022
▲ 3.3% 2026
20252026
Solvency
27.8%
▼ 16.9pp 2026
20252026
Current ratio
1.38
▼ 0.42 2026
20252026
Return on assets (ROA)
0.9%
▼ 4.3pp 2026
20252026
Every figure per financial year
Every figure with its change against the financial year before
favourable unfavourable
Line20252026
Operating result€4,415-€1,044▼ 76.4%
Net result€2,350below the sector's middle half-€671▼ 71.4%
Equity€20,350below the sector's middle half-€21,022▲ 3.3%
Total assets€45,545below the sector's middle half-€75,691▲ 66.2%
Debt€25,195-€54,670▲ 117%
Working capital€20,350within the sector's middle half-€21,022▲ 3.3%
Solvency44.7%within the sector's middle half-27.8%▼ 16.9pp
Current ratio1.81within the sector's middle half-1.38▼ 0.42
Return on assets (ROA)5.2%within the sector's middle half-0.9%▼ 4.3pp
above within below The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.

The operating result for 2026 is 76% lower than in 2025.

Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.

Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Equity and liabilities €75,691
Equity €21,022 ▲ 3.3%
Debt €54,670 ▲ 117%
Debt's share of the balance-sheet total rises from 55.3% to 72.2%. Equity and debt are higher.
Key figures and ratios
2026 value · change against 2025
Debt to equity
2.60▲
2025 · 1.24
ROE
3.2%▼
2025 · 11.5%
Debt ≤ 1 year
€54,670▲
2025 · €25,195
Income taxes
€463▼
2025 · €2,033
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Investments

fixed assets acquired
Item31-03-202531-03-2026
Financial fixed assets-€0

Source: notes to the 2025 to 2026 annual accounts (statement of fixed assets)

Subsidies and aid

Flemish government

2025 · 1 entry · €135 awarded · €135 paid
Schemes
1 entry · €135 · €135 paid · Fonds voor Innoveren en Ondernemen
Annual accounts
Filed annual accounts As filed with the NBB · 2026 against 2025 · 32 lines
Balance sheet Code20252026
Assets
Total assets20/58€45,545€75,691▲
Current assets29/58€45,545€75,691▲
Amounts receivable within one year40/41€26,438€72,836▲
Trade receivables40€26,438€72,689▲
Other amounts receivable41-€148
Cash at bank and in hand54/58€18,159€2,605▼
Deferred charges and accrued income490/1€948€250▼
Equity and liabilities
Total equity and liabilities10/49€45,545€75,691▲
Equity10/15€20,350€21,022▲
Contributions10/11€18,000€18,000=
Reserves13€2,350€3,022▲
Distributable reserves133€2,350€3,022▲
Amounts payable17/49€25,195€54,670▲
Amounts payable within one year42/48€25,195€54,670▲
Trade debts44€22,673€47,467▲
Suppliers440/4€22,673€47,467▲
Taxes, remuneration and social security45€2,522€7,203▲
Taxes450/3€2,522€7,203▲
Income statement Code20252026
Other operating charges640/8€426€130▼
Gross operating margin9900€4,841€1,174▼
Operating profit (loss)9901€4,415€1,044▼
Financial income75/76B€187€228▲
Recurring financial income75€187€228▲
Financial charges65/66B€220€137▼
Recurring financial charges65€220€137▼
Profit (loss) for the period before taxes9903€4,383€1,134▼
Income taxes67/77€2,033€463▼
Profit (loss) for the period9904€2,350€671▼
Profit (loss) for the period to be appropriated9905€2,350€671▼
Appropriation of the result
Profit (loss) to be appropriated9906€2,350€671▼
Transfer to equity691/2€2,350€671▼
To other reserves6921€2,350€671▼

The notes to these accounts have 15 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2026 at the NBB, filed on 20-10-2026.

Line20252026Change
Other operating charges640/8€426€130▼ 69.4%
Gross operating margin9900€4,841€1,174▼ 75.7%
Operating profit (loss)9901€4,415€1,044▼ 76.4%
Financial income75/76B€187€228▲ 21.6%
Recurring financial income75€187€228▲ 21.6%
Financial charges65/66B€220€137▼ 37.5%
Recurring financial charges65€220€137▼ 37.5%
Profit (loss) for the period before taxes9903€4,383€1,134▼ 74.1%
Income taxes67/77€2,033€463▼ 77.2%
Profit (loss) for the period9904€2,350€671▼ 71.4%
Profit (loss) for the period to be appropriated9905€2,350€671▼ 71.4%
Line20252026Change
Assets
Total assets20/58€45,545€75,691▲ 66.2%
Current assets29/58€45,545€75,691▲ 66.2%
Amounts receivable within one year40/41€26,438€72,836▲ 175%
Trade receivables40€26,438€72,689▲ 175%
Other amounts receivable41-€148-
Cash at bank and in hand54/58€18,159€2,605▼ 85.7%
Deferred charges and accrued income490/1€948€250▼ 73.7%
Equity and liabilities
Total equity and liabilities10/49€45,545€75,691▲ 66.2%
Equity10/15€20,350€21,022▲ 3.3%
Contributions10/11€18,000€18,000=
Reserves13€2,350€3,022▲ 28.6%
Distributable reserves133€2,350€3,022▲ 28.6%
Amounts payable17/49€25,195€54,670▲ 117%
Amounts payable within one year42/48€25,195€54,670▲ 117%
Trade debts44€22,673€47,467▲ 109%
Suppliers440/4€22,673€47,467▲ 109%
Taxes, remuneration and social security45€2,522€7,203▲ 186%
Taxes450/3€2,522€7,203▲ 186%
Line20252026Change
Profit (loss) for the period9904€2,350€671▼ 71.4%
Operating cash flow (approximation)€2,350€671▼ 71.4%
Change in cash--€15,553-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Historical observation

In July 2024, 2,542 companies had the same profile as DE MAKELAARS has now. Two years later, 94.9% were still going and 3.5% had gone bankrupt.

  • Micro
  • 2 to 5 years old
  • solvency 10 to 30%
  • a profit under 5% of the balance sheet
94.9% was still going
1.2% stopped otherwise
3.5% went bankrupt

Another 0.4% stopped without a precise date, possibly only after those two years.

The bankruptcy probability of DE MAKELAARS itself is lower: 0.3% within 12 months. It rests on far more data about DE MAKELAARS than the profile alone.

Test of the method

The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 0.9%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 2,542 companies, not a prediction for DE MAKELAARS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Filings with the National Bank (2)
Financial year Type Filed Reference Document
31-03-2026 abbreviated format 20-10-2026 2026-00568472 PDF
31-03-2025 micro format 02-10-2025 2025-00534726 PDF

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