DE SUTTER JOHN
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 19-12-2025 PDF all 7 filings
Turnover
≈ €870,000
Estimated: probably between €650,000 and €1.2m
Total assets
€327,506▲ 12.1%
2024 · €292,133
Net result
€106,821▲ 346%
2024 · €23,951
Working capital
-€61,162▼ 31.1%
2024 · -€46,669
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€148,476
▲ 275%
2025
20192025
Net result
€106,821
▲ 346%
2025
highest quarter of the sector
20192025
Equity
€18,600
▼ 27.1%
2025
lowest quarter of the sector
20192025
Total assets
€327,506
▲ 12.1%
2025
highest quarter of the sector
20192025
Debt
€308,906
▲ 15.9%
2025
20192025
Working capital
-€61,162
▼ 31.1%
2025
lowest quarter of the sector
20192025
Solvency
5.7%
▼ 3.1pp
2025
lowest quarter of the sector
20192025
Current ratio
0.77
=
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
32.6%
▲ 24.4pp
2025
highest quarter of the sector
20192025
Staff (FTE)
2
▲ 100%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€11,254-€11,121▼ 1.2%€9,967▼ 10.4%€9,337▼ 6.3%€59,562▲ 538%€39,616▼ 33.5%€148,476▲ 275%
Net result€6,908-€9,598within the sector's middle half▲ 38.9%€6,627within the sector's middle half▼ 31.0%€5,726within the sector's middle half▼ 13.6%€39,937above the sector's middle half▲ 597%€23,951within the sector's middle half▼ 40.0%€106,821above the sector's middle half▲ 346%
Equity€13,108-€22,706within the sector's middle half▲ 73.2%€29,333within the sector's middle half▲ 29.2%€31,234within the sector's middle half▲ 6.5%€25,508within the sector's middle half▼ 18.3%€25,508within the sector's middle half=€18,600below the sector's middle half▼ 27.1%
Total assets€97,280-€105,581within the sector's middle half▲ 8.5%€106,533within the sector's middle half▲ 0.9%€200,694within the sector's middle half▲ 88.4%€251,850within the sector's middle half▲ 25.5%€292,133within the sector's middle half▲ 16.0%€327,506above the sector's middle half▲ 12.1%
Debt€84,172-€82,875▼ 1.5%€77,199▼ 6.8%€169,460▲ 120%€226,342▲ 33.6%€266,625▲ 17.8%€308,906▲ 15.9%
Working capital-€4,176-€1,937below the sector's middle half€13,071within the sector's middle half▲ 575%€9,586within the sector's middle half▼ 26.7%-€61,518below the sector's middle half-€46,669below the sector's middle half▲ 24.1%-€61,162below the sector's middle half▼ 31.1%
Solvency13.5%-21.5%within the sector's middle half▲ 8.0pp27.5%within the sector's middle half▲ 6.0pp15.6%below the sector's middle half▼ 12.0pp10.1%below the sector's middle half▼ 5.4pp8.7%below the sector's middle half▼ 1.4pp5.7%below the sector's middle half▼ 3.1pp
Current ratio0.92-1.05below the sector's middle half▲ 0.131.30within the sector's middle half▲ 0.261.08below the sector's middle half▼ 0.220.68below the sector's middle half▼ 0.410.76below the sector's middle half▲ 0.090.77below the sector's middle half=
Return on assets (ROA)7.1%-9.1%within the sector's middle half▲ 2.0pp6.2%within the sector's middle half▼ 2.9pp2.9%within the sector's middle half▼ 3.4pp15.9%within the sector's middle half▲ 13.0pp8.2%within the sector's middle half▼ 7.7pp32.6%above the sector's middle half▲ 24.4pp
Staff (FTE)0.41▲ 150%1=2▲ 100%
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 2025 is over 3.7 times that of 2024 and the highest since 2021. It is a recovery after the fall in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €327,506
Fixed assets
€127,349 ▼ 11.1%
Current assets
€200,158 ▲ 34.4%
Equity and liabilities €327,506
Equity
€18,600 ▼ 27.1%
Debt
€308,906 ▲ 15.9%
Debt's share of the balance-sheet total rises from 91.3% to 94.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€191,197▲
2024 · €79,433
Cash flow
€149,542▲
2024 · €63,768
Quick ratio
0.76▲
2024 · 0.74
Debt to equity
16.61▲
2024 · 10.45
ROE
574.3%▲
2024 · 93.9%
Interest coverage
15.70▲
2024 · 7.97
Debt ≤ 1 year
€261,320▲
2024 · €195,607
Debt > 1 year
€47,586▼
2024 · €70,245
Income taxes
€29,477▲
2024 · €5,694
Staff costs
€117,822▲
2024 · €60,018
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 2 |
| full-time | 1 | 1 | 1 | 2 |
| in full-time equivalents | 1 | 1 | 1 | 2 |
| Average over the year, in full-time equivalents | 0.4 | 1 | 1 | 2 |
| On a permanent contract | 1 | 1 | 1 | 2 |
| Joined | 1 | - | - | 1 |
| Left | 1 | - | - | 0 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Securities and guarantees
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Pledge on other assets, amount secured | €41,511 | €70,680 | €53,437 | €98,898 | €70,245 |
| Carrying value of the other pledged assets | €40,427 | €63,626 | €47,324 | €99,422 | €71,875 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €0 | €38,475 | €78,013 | €59,470 | €26,875 |
| Depreciation and write-downs of the year | €11,753 | €13,657 | €29,817 | €39,817 | €42,721 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €22,828 | €59,354 | €60,018 | €117,822 | ▲ 96.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,316 | €8,417 | €11,753 | €13,657 | €29,817 | €39,817 | €42,721 | ▲ 7.3% |
| Other operating charges640/8 | - | - | €298 | €5,576 | €3,497 | €1,532 | €1,199 | ▼ 21.7% |
| Gross operating margin9900 | €19,570 | €20,744 | €22,018 | €51,398 | €152,231 | €140,982 | €310,218 | ▲ 120% |
| Operating profit (loss)9901 | €11,254 | €11,121 | €9,967 | €9,337 | €59,562 | €39,616 | €148,476 | ▲ 275% |
| Recurring financial income75 | €809 | €172 | - | - | - | - | - | - |
| Financial charges65/66B | - | - | €1,645 | €2,043 | €9,074 | €9,970 | €12,177 | ▲ 22.1% |
| Recurring financial charges65 | €754 | €1,371 | €1,645 | €2,043 | €9,074 | €9,970 | €12,177 | ▲ 22.1% |
| Profit (loss) for the period before taxes9903 | €11,309 | €9,922 | €8,323 | €7,294 | €50,488 | €29,646 | €136,299 | ▲ 360% |
| Income taxes67/77 | €4,401 | €324 | €1,696 | €1,568 | €10,551 | €5,694 | €29,477 | ▲ 418% |
| Profit (loss) for the period9904 | €6,908 | €9,598 | €6,627 | €5,726 | €39,937 | €23,951 | €106,821 | ▲ 346% |
| Profit (loss) for the period to be appropriated9905 | €6,908 | €9,598 | €6,627 | €5,726 | €39,937 | €23,951 | €106,821 | ▲ 346% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €97,280 | €105,581 | €106,533 | €200,694 | €251,850 | €292,133 | €327,506 | ▲ 12.1% |
| Fixed assets21/28 | €51,860 | €62,280 | €50,528 | €75,345 | €123,541 | €143,194 | €127,349 | ▼ 11.1% |
| Tangible fixed assets22/27 | €51,860 | €62,280 | €50,528 | €75,345 | €123,541 | €143,194 | €127,349 | ▼ 11.1% |
| Plant, machinery and equipment23 | - | - | €38,155 | €36,177 | €51,423 | €56,499 | €54,508 | ▼ 3.5% |
| Furniture and vehicles24 | - | - | €10,435 | €37,514 | €70,747 | €51,830 | €45,037 | ▼ 13.1% |
| Leasing and similar rights25 | - | - | - | - | - | €33,778 | €27,001 | ▼ 20.1% |
| Other tangible fixed assets26 | - | - | €1,938 | €1,654 | €1,371 | €1,087 | €803 | ▼ 26.1% |
| Current assets29/58 | €45,419 | €43,301 | €56,005 | €125,349 | €128,309 | €148,939 | €200,158 | ▲ 34.4% |
| Stocks and contracts in progress3 | €12,500 | €13,750 | €20,300 | €30,000 | €19,661 | €4,437 | €2,123 | ▼ 52.1% |
| Stocks30/36 | - | - | €20,300 | €30,000 | €19,661 | €4,437 | €2,123 | ▼ 52.1% |
| Amounts receivable within one year40/41 | €15,649 | €19,413 | €31,232 | €39,154 | €61,708 | €91,782 | €117,097 | ▲ 27.6% |
| Trade receivables40 | - | - | €26,370 | €19,218 | €47,295 | €59,828 | €99,955 | ▲ 67.1% |
| Other amounts receivable41 | - | - | €4,862 | €19,937 | €14,413 | €31,954 | €17,142 | ▼ 46.4% |
| Cash at bank and in hand54/58 | €12,771 | €9,793 | €524 | €52,817 | €44,002 | €48,690 | €75,295 | ▲ 54.6% |
| Deferred charges and accrued income490/1 | - | - | €3,948 | €3,377 | €2,938 | €4,030 | €5,642 | ▲ 40.0% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €97,280 | €105,581 | €106,533 | €200,694 | €251,850 | €292,133 | €327,506 | ▲ 12.1% |
| Equity10/15 | €13,108 | €22,706 | €29,333 | €31,234 | €25,508 | €25,508 | €18,600 | ▼ 27.1% |
| Contributions10/11 | €6,200 | - | €6,200 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €6,908 | €16,506 | €23,133 | €12,634 | €6,908 | €6,908 | - | - |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | €21,273 | €10,774 | €5,048 | €6,908 | - | - |
| Amounts payable17/49 | €84,172 | €82,875 | €77,199 | €169,460 | €226,342 | €266,625 | €308,906 | ▲ 15.9% |
| Amounts payable after more than one year17 | €34,577 | €41,511 | €34,265 | €53,437 | €35,727 | €70,245 | €47,586 | ▼ 32.3% |
| Financial debts170/4 | - | - | €34,265 | €53,437 | €35,727 | €70,245 | €47,586 | ▼ 32.3% |
| Amounts payable within one year42/48 | €49,595 | €41,364 | €42,934 | €115,762 | €189,827 | €195,607 | €261,320 | ▲ 33.6% |
| Current portion of amounts payable after more than one year42 | - | - | €12,689 | €19,475 | €17,710 | €28,653 | €22,659 | ▼ 20.9% |
| Trade debts44 | €28,447 | €16,637 | €19,038 | €80,906 | €56,625 | €72,900 | €39,082 | ▼ 46.4% |
| Suppliers440/4 | - | - | €19,038 | €80,906 | €56,625 | €72,900 | €39,082 | ▼ 46.4% |
| Taxes, remuneration and social security45 | - | - | €7,696 | €4,925 | €9,335 | €7,392 | €14,940 | ▲ 102% |
| Taxes450/3 | - | - | €5,196 | €3,584 | €5,686 | €3,008 | €6,000 | ▲ 99.5% |
| Remuneration and social security454/9 | - | - | €2,500 | €1,341 | €3,649 | €4,385 | €8,940 | ▲ 104% |
| Other amounts payable47/48 | - | - | €3,511 | €10,456 | €106,157 | €86,662 | €184,640 | ▲ 113% |
| Accrued charges and deferred income492/3 | - | - | - | €261 | €788 | €773 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,908 | €9,598 | €6,627 | €5,726 | €39,937 | €23,951 | €106,821 | ▲ 346% |
| + Depreciation and write-downs630 | €6,316 | €8,417 | €11,753 | €13,657 | €29,817 | €39,817 | €42,721 | ▲ 7.3% |
| Operating cash flow (approximation) | €13,224 | €18,016 | €18,380 | €19,383 | €69,755 | €63,768 | €149,542 | ▲ 135% |
| Investment in fixed assets (approximation) | - | -€18,837 | €0 | -€38,475 | -€78,013 | -€59,470 | -€26,875 | ▲ 54.8% |
| Change in cash | - | -€2,977 | -€9,269 | €52,293 | -€8,816 | €4,688 | €26,606 | ▲ 468% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 2,153 companies had the same profile as DE SUTTER JOHN has now. Two years later, 96.1% were still going and 1.7% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
96.1%
was still going
2.2%
stopped otherwise
1.7%
went bankrupt
That fits the bankruptcy probability of DE SUTTER JOHN itself: 0.5% within 12 months.
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.
| 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 2,153 companies, not a prediction for DE SUTTER JOHN. 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 (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 19-12-2025 | 2025-00590867 | |
| 30-09-2024 | micro format | 24-03-2025 | 2025-00052690 | |
| 30-09-2023 | micro format | 04-03-2024 | 2024-00039011 | |
| 30-09-2022 | micro format | 24-03-2023 | 2023-00045725 | |
| 30-09-2021 | micro format | 21-04-2022 | 2022-20005582 | |
| 30-09-2020 | micro format | 30-04-2021 | 2021-13000338 | |
| 30-09-2019 | micro format | 30-04-2020 | 2020-11800363 |