De Witte
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 26-06-2026 at the NBB all 36 filings
Turnover
≈ €13.0m
Estimated: probably between €8.1m and €23.0m
EBIT margin
Not included in this filing
Net result
€1.5m▲ 23.1%
2024 · €1.2m
Working capital
€4.2m▲ 59.0%
2024 · €2.7m
In the rankings
#2 employer in Sint-Gillis-Waas, Wholesale and retail trade sector#3 company by equity in Sint-Gillis-Waas, Wholesale and retail trade sector#5 company by staff growth in Sint-Gillis-Waas
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€2.0m
▲ 28.0%
2025
20182025
Net result
€1.5m
▲ 23.1%
2025
highest quarter of the sector
20182025
Equity
€4.4m
▲ 53.2%
2025
middle half of the sector
20182025
Total assets
€7.9m
▲ 23.9%
2025
middle half of the sector
20182025
Debt
€3.5m
▼ 0.4%
2025
20182025
Working capital
€4.2m
▲ 59.0%
2025
highest quarter of the sector
20182025
Solvency
56.1%
▲ 10.7pp
2025
middle half of the sector
20182025
Current ratio
2.22
▲ 0.46
2025
middle half of the sector
20182025
Return on assets (ROA)
19.5%
▼ 0.1pp
2025
highest quarter of the sector
20182025
Staff (FTE)
22.3
▲ 19.3%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€1.6m-€1.5m▼ 4.9%€2.7m▲ 78.3%€1.6m▼ 39.3%€1.3m▼ 23.3%€2.0m▲ 61.1%€1.5m▼ 24.0%€2.0m▲ 28.0%
Net result€1.1m-€1.0m▼ 5.4%€2.0mabove the sector's middle half▲ 95.7%€1.2mabove the sector's middle half▼ 38.8%€0.9mabove the sector's middle half▼ 26.1%€1.4mabove the sector's middle half▲ 57.8%€1.2mabove the sector's middle half▼ 11.5%€1.5mabove the sector's middle half▲ 23.1%
Equity€1.2m-€2.3m▲ 81.2%€2.3mabove the sector's middle half▲ 0.3%€3.5mabove the sector's middle half▲ 53.5%€1.5mabove the sector's middle half▼ 57.4%€2.9mabove the sector's middle half▲ 95.5%€2.9mabove the sector's middle half=€4.4mwithin the sector's middle half▲ 53.2%
Total assets€4.3m-€4.8m▲ 11.5%€6.3mabove the sector's middle half▲ 32.7%€6.0mabove the sector's middle half▼ 5.8%€6.0mabove the sector's middle half▲ 0.7%€6.9mabove the sector's middle half▲ 15.5%€6.4mabove the sector's middle half▼ 8.3%€7.9mwithin the sector's middle half▲ 23.9%
Debt€3.0m-€2.5m▼ 17.0%€4.1m▲ 61.6%€2.5m▼ 38.7%€4.5m▲ 81.5%€4.1m▼ 10.6%€3.5m▼ 14.1%€3.5m▼ 0.4%
Working capital€1.2m-€2.2m▲ 87.1%€2.2mabove the sector's middle half▼ 2.3%€3.2mabove the sector's middle half▲ 47.6%€1.3mabove the sector's middle half▼ 60.4%€2.7mabove the sector's middle half▲ 111%€2.7mabove the sector's middle half▼ 0.3%€4.2mabove the sector's middle half▲ 59.0%
Solvency29.1%-47.2%▲ 18.1pp35.7%within the sector's middle half▼ 11.5pp58.2%within the sector's middle half▲ 22.5pp24.6%within the sector's middle half▼ 33.6pp41.6%within the sector's middle half▲ 17.0pp45.4%within the sector's middle half▲ 3.7pp56.1%within the sector's middle half▲ 10.7pp
Current ratio1.39-1.88▲ 0.491.53within the sector's middle half▼ 0.352.28within the sector's middle half▲ 0.751.28within the sector's middle half▼ 1.001.66within the sector's middle half▲ 0.381.77within the sector's middle half▲ 0.112.22within the sector's middle half▲ 0.46
Return on assets (ROA)24.9%-21.1%▼ 3.8pp31.2%above the sector's middle half▲ 10.0pp20.3%above the sector's middle half▼ 10.9pp14.9%above the sector's middle half▼ 5.4pp20.3%above the sector's middle half▲ 5.5pp19.6%above the sector's middle half▼ 0.7pp19.5%above the sector's middle half▼ 0.1pp
Staff (FTE)13-13.7▲ 5.4%13.8above the sector's middle half▲ 0.7%15.3above the sector's middle half▲ 10.9%16.4above the sector's middle half▲ 7.2%15.2above the sector's middle half▼ 7.3%18.7above the sector's middle half▲ 23.0%22.3within the sector's middle half▲ 19.3%
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 28% higher than in 2024. It is a recovery after the fall in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.9m
Fixed assets
€183,955 ▼ 16.2%
Current assets
€7.7m ▲ 25.3%
Equity and liabilities €7.9m
Equity
€4.4m ▲ 53.2%
Debt
€3.5m ▼ 0.4%
Debt's share of the balance-sheet total falls from 54.6% to 43.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€2.1m▲
2024 · €1.6m
Cash flow
€1.6m▲
2024 · €1.3m
Quick ratio
1.22▲
2024 · 0.76
Debt to equity
0.78▼
2024 · 1.20
ROE
34.7%▼
2024 · 43.2%
Interest coverage
7.52▲
2024 · 6.08
Debt ≤ 1 year
€3.5m▼
2024 · €3.5m
Income taxes
€528,686▲
2024 · €444,668
Staff costs
€1.1m▲
2024 · €848,526
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 14 | 15 | 16 | 19 | 19 |
| full-time | 9 | 7 | 8 | 11 | 10 |
| part-time | 5 | 8 | 8 | 8 | 9 |
| in full-time equivalents | 13.2 | 13 | 13.9 | 16.8 | 17 |
| Average over the year, in full-time equivalents | 15.3 | 16.4 | 15.2 | 18.7 | 22.3 |
| On a permanent contract | 14 | 15 | 16 | 19 | 19 |
| Joined | 17 | 17 | 11 | 23 | 17 |
| Left | 17 | 16 | 10 | 20 | 17 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €213,772 | €20,544 | €81,696 | €90,892 | €53,583 |
| Intangible fixed assets | €8,000 | - | - | - | - |
| Financial fixed assets | - | €2,000 | €65 | €5 | - |
| Depreciation and write-downs of the year | €44,682 | €62,237 | €72,820 | €87,814 | €89,201 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 5 entries · €54,405 awarded · €45,408 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €23,429 | €19,432 |
| 2024 | 1 | €9,708 | €6,360 |
| 2023 | 1 | €6,630 | €4,978 |
| 2022 | 1 | €14,638 | €14,638 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.001m | - | €0.001m | €0.004m | €0.003m | ▼ 18.4% |
| Remuneration, social security and pensions62 | - | - | - | €0.8m | €0.7m | €0.7m | €0.8m | €1.1m | ▲ 32.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.05m | €0.02m | €0.03m | €0.04m | €0.06m | €0.07m | €0.09m | €0.09m | ▲ 1.6% |
| Other operating charges640/8 | - | - | - | €0.02m | €0.006m | €0.01m | €0.008m | €0.005m | ▼ 33.6% |
| Non-recurring operating charges66A | - | - | - | - | €0.02m | - | - | - | - |
| Gross operating margin9900 | €2.2m | €2.2m | €3.4m | €2.5m | €2.1m | €2.9m | €2.5m | €3.2m | ▲ 28.4% |
| Operating profit (loss)9901 | €1.6m | €1.5m | €2.7m | €1.6m | €1.3m | €2.0m | €1.5m | €2.0m | ▲ 28.0% |
| Financial income75/76B | - | - | - | €0.05m | €0.02m | €0.05m | €0.4m | €0.4m | ▼ 12.8% |
| Recurring financial income75 | €0.04m | €0.03m | €0.03m | €0.05m | €0.02m | €0.05m | €0.4m | €0.4m | ▼ 12.8% |
| Financial charges65/66B | - | - | - | €0.09m | €0.07m | €0.2m | €0.3m | €0.3m | ▲ 2.4% |
| Recurring financial charges65 | €0.1m | €0.1m | €0.09m | €0.09m | €0.07m | €0.2m | €0.3m | €0.3m | ▲ 2.4% |
| Profit (loss) for the period before taxes9903 | €1.5m | €1.4m | €2.6m | €1.6m | €1.2m | €1.9m | €1.7m | €2.1m | ▲ 22.0% |
| Income taxes67/77 | €0.5m | €0.4m | €0.7m | €0.4m | €0.3m | €0.5m | €0.4m | €0.5m | ▲ 18.9% |
| Profit (loss) for the period9904 | €1.1m | €1.0m | €2.0m | €1.2m | €0.9m | €1.4m | €1.2m | €1.5m | ▲ 23.1% |
| Transfer from tax-exempt reserves789 | - | - | - | €0.2m | - | €0.3m | - | €0.3m | - |
| Transfer to tax-exempt reserves689 | - | - | - | €0.3m | - | €0.3m | - | €0.6m | - |
| Profit (loss) for the period to be appropriated9905 | €1.1m | €0.7m | €2.0m | €1.1m | €0.9m | €1.4m | €1.2m | €1.2m | ▼ 0.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €4.3m | €4.8m | €6.3m | €6.0m | €6.0m | €6.9m | €6.4m | €7.9m | ▲ 23.9% |
| Fixed assets21/28 | €0.06m | €0.03m | €0.09m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 16.2% |
| Intangible fixed assets21 | €0.006m | €0.004m | €0.002m | €0.006m | €0.004m | €0.001m | €0 | €0 | - |
| Tangible fixed assets22/27 | €0.05m | €0.03m | €0.09m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 16.4% |
| Plant, machinery and equipment23 | - | - | - | €0.2m | €0.1m | €0.1m | €0.08m | €0.05m | ▼ 36.8% |
| Furniture and vehicles24 | - | - | - | €0.08m | €0.05m | €0.09m | €0.1m | €0.1m | ▼ 5.1% |
| Financial fixed assets28 | €40 | €40 | €40 | €40 | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Current assets29/58 | €4.2m | €4.7m | €6.2m | €5.7m | €5.8m | €6.7m | €6.2m | €7.7m | ▲ 25.3% |
| Stocks and contracts in progress3 | €2.0m | €2.3m | €3.1m | €2.7m | €3.6m | €3.1m | €3.5m | €3.5m | ▲ 0.1% |
| Stocks30/36 | - | - | - | €2.7m | €3.6m | €3.1m | €3.5m | €3.5m | ▲ 0.1% |
| Amounts receivable within one year40/41 | €1.0m | €1.3m | €1.4m | €1.5m | €1.4m | €1.2m | €1.3m | €1.3m | ▼ 2.4% |
| Trade receivables40 | - | - | - | €1.2m | €1.2m | €1.1m | €1.3m | €1.2m | ▼ 7.5% |
| Other amounts receivable41 | - | - | - | €0.3m | €0.2m | €0.1m | €0.04m | €0.1m | ▲ 146% |
| Current investments50/53 | €0.005m | €0.005m | €0.005m | €0.005m | €0.005m | €1.8m | €0.8m | €1.3m | ▲ 62.5% |
| Cash at bank and in hand54/58 | €1.1m | €1.2m | €1.7m | €1.4m | €0.8m | €0.6m | €0.5m | €1.6m | ▲ 220% |
| Deferred charges and accrued income490/1 | - | - | - | €0.03m | €0.05m | €0.04m | €0.05m | €0.04m | ▼ 11.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €4.3m | €4.8m | €6.3m | €6.0m | €6.0m | €6.9m | €6.4m | €7.9m | ▲ 23.9% |
| Equity10/15 | €1.2m | €2.3m | €2.3m | €3.5m | €1.5m | €2.9m | €2.9m | €4.4m | ▲ 53.2% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.3m | €0.6m | €0.6m | €0.7m | €0.7m | €0.7m | €0.7m | €1.0m | ▲ 40.1% |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Tax-exempt reserves132 | - | - | - | €0.7m | €0.7m | €0.7m | €0.7m | €1.0m | ▲ 40.5% |
| Profit (loss) carried forward14 | €0.9m | €1.6m | €1.6m | €2.7m | €0.7m | €2.1m | €2.1m | €3.3m | ▲ 59.4% |
| Amounts payable17/49 | €3.0m | €2.5m | €4.1m | €2.5m | €4.5m | €4.1m | €3.5m | €3.5m | ▼ 0.4% |
| Amounts payable within one year42/48 | €3.0m | €2.5m | €4.1m | €2.5m | €4.5m | €4.1m | €3.5m | €3.5m | ▼ 0.4% |
| Trade debts44 | €0.3m | €0.4m | €0.5m | €0.4m | €0.4m | €0.5m | €0.5m | €0.5m | ▲ 2.9% |
| Suppliers440/4 | - | - | - | €0.4m | €0.4m | €0.5m | €0.5m | €0.5m | ▲ 2.9% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 20.7% |
| Taxes450/3 | - | - | - | €0.02m | €0.03m | €0.02m | €0.03m | €0.04m | ▲ 18.5% |
| Remuneration and social security454/9 | - | - | - | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 21.1% |
| Other amounts payable47/48 | - | - | - | €1.9m | €4.0m | €3.4m | €2.8m | €2.8m | ▼ 2.4% |
| Accrued charges and deferred income492/3 | - | - | - | €27 | €32 | €0.003m | €132 | €0.002m | ▲ 14× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.1m | €1.0m | €2.0m | €1.2m | €0.9m | €1.4m | €1.2m | €1.5m | ▲ 23.1% |
| + Depreciation and write-downs630 | €0.05m | €0.02m | €0.03m | €0.04m | €0.06m | €0.07m | €0.09m | €0.09m | ▲ 1.6% |
| Operating cash flow (approximation) | €1.1m | €1.0m | €2.0m | €1.3m | €1.0m | €1.5m | €1.3m | €1.6m | ▲ 21.6% |
| Investment in fixed assets (approximation) | - | €0.003m | -€0.09m | -€0.2m | -€0.002m | -€0.08m | -€0.09m | -€0.05m | ▲ 41.1% |
| Change in cash | - | €0.04m | €0.5m | -€0.3m | -€0.6m | -€0.2m | -€0.07m | €1.1m | - |
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, 20,136 companies had the same profile as De Witte has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
That fits the bankruptcy probability of De Witte itself: < 0.1% 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 20,136 companies, not a prediction for De Witte. 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.
Latest 10 of 36 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 26-06-2026 | 2026-00204505 | |
| 31-12-2024 | abbreviated format | 27-06-2025 | 2025-00188319 | |
| 31-12-2023 | abbreviated format | 27-06-2024 | 2024-00181672 | |
| 31-12-2022 | abbreviated format | 27-06-2023 | 2023-00169479 | |
| 31-12-2021 | abbreviated format | 28-06-2022 | 2022-20106886 | |
| 31-12-2020 | abbreviated format | 08-07-2021 | 2021-33100216 | |
| 31-12-2019 | abbreviated format | 30-06-2020 | 2020-23700150 | |
| 31-12-2018 | abbreviated format | 08-07-2019 | 2019-30300252 | |
| 31-12-2017 | abbreviated format | 12-07-2018 | 2018-32900251 | |
| 31-12-2016 | abbreviated format | 13-07-2017 | 2017-31500223 |