Debees
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 29-05-2026 PDF all 42 filings
Turnover
≈ €98,000
Estimated: probably between €85,000 and €130,000
Total assets
€842,449▼ 5.5%
2024 · €891,593
Net result
€25,828▼ 79.7%
2024 · €127,020
Working capital
€96,618▼ 32.6%
2024 · €143,392
In the rankings
#5 oldest company in Mechelen, Real estate sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€37,796
▼ 80.6%
2025
20182025
Net result
€25,828
▼ 79.7%
2025
middle half of the sector
20182025
Equity
€322,165
▲ 8.7%
2025
highest quarter of the sector
20182025
Total assets
€842,449
▼ 5.5%
2025
middle half of the sector
20182025
Debt
€482,641
▼ 13.4%
2025
20182025
Working capital
€96,618
▼ 32.6%
2025
middle half of the sector
20182025
Solvency
38.2%
▲ 5.0pp
2025
middle half of the sector
20182025
Current ratio
1.40
▼ 0.23
2025
middle half of the sector
20182025
Return on assets (ROA)
3.1%
▼ 11.2pp
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€0.08m-€0.04m▼ 45.9%€0.04m▼ 15.9%€0.04m▲ 7.6%€0.04m▲ 6.5%€0.05m▲ 35.4%€0.2m▲ 258%€0.04m▼ 80.6%
Net result€0.06m-€0.02m▼ 57.4%€0.02mwithin the sector's middle half▼ 36.9%€0.01mwithin the sector's middle half▼ 3.4%€0.02mwithin the sector's middle half▲ 32.3%€0.03mabove the sector's middle half▲ 64.0%€0.1mabove the sector's middle half▲ 302%€0.03mwithin the sector's middle half▼ 79.7%
Equity€0.06m-€0.09m▲ 36.8%€0.1mwithin the sector's middle half▲ 17.0%€0.1mwithin the sector's middle half▲ 14.0%€0.1mwithin the sector's middle half▲ 16.3%€0.2mwithin the sector's middle half▲ 23.0%€0.3mwithin the sector's middle half▲ 75.0%€0.3mabove the sector's middle half▲ 8.7%
Total assets€1.0m-€1.0m▼ 5.5%€0.9mwithin the sector's middle half▼ 5.8%€0.9mwithin the sector's middle half▼ 3.9%€0.9mwithin the sector's middle half▼ 3.4%€0.8mwithin the sector's middle half▼ 5.4%€0.9mwithin the sector's middle half▲ 10.8%€0.8mwithin the sector's middle half▼ 5.5%
Debt€1.0m-€0.9m▼ 8.3%€0.8m▼ 8.1%€0.8m▼ 6.2%€0.7m▼ 6.5%€0.6m▼ 10.9%€0.6m▼ 12.2%€0.5m▼ 13.4%
Working capital-€0.2m--€0.2m▲ 4.6%-€0.2mbelow the sector's middle half▲ 26.9%-€0.2mbelow the sector's middle half▼ 14.9%-€0.2mbelow the sector's middle half▲ 0.3%-€0.2mbelow the sector's middle half▼ 6.0%€0.1mabove the sector's middle half€0.1mwithin the sector's middle half▼ 32.6%
Solvency6.3%-9.1%▲ 2.8pp11.3%within the sector's middle half▲ 2.2pp13.4%within the sector's middle half▲ 2.1pp16.2%within the sector's middle half▲ 2.7pp21.0%within the sector's middle half▲ 4.9pp33.2%within the sector's middle half▲ 12.2pp38.2%within the sector's middle half▲ 5.0pp
Current ratio0.10-0.06▼ 0.040.02below the sector's middle half▼ 0.040.03below the sector's middle half▲ 0.010.11below the sector's middle half▲ 0.070.10below the sector's middle half▼ 0.011.63within the sector's middle half▲ 1.531.40within the sector's middle half▼ 0.23
Return on assets (ROA)5.4%-2.5%▼ 3.0pp1.6%within the sector's middle half▼ 0.8pp1.7%within the sector's middle half=2.3%within the sector's middle half▲ 0.6pp3.9%within the sector's middle half▲ 1.7pp14.2%above the sector's middle half▲ 10.3pp3.1%within the sector's middle half▼ 11.2pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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 81% lower than 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 €842,449
Fixed assets
€506,439 ▼ 2.7%
Current assets
€336,010 ▼ 9.4%
Equity and liabilities €842,449
Equity
€322,165 ▲ 8.7%
Provisions
€37,643 =
Debt
€482,641 ▼ 13.4%
Debt's share of the balance-sheet total falls from 62.5% to 57.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€66,731▼
2024 · €221,804
Cash flow
€54,763▼
2024 · €154,227
Debt to equity
1.50▼
2024 · 1.88
ROE
8.0%▼
2024 · 42.9%
Interest coverage
7.09▼
2024 · 19.30
Debt ≤ 1 year
€239,392▲
2024 · €227,645
Debt > 1 year
€243,209▼
2024 · €328,842
Income taxes
€9,157▼
2024 · €16,629
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Mortgages, amount registered | - | €570,000 | - | - | - |
| Carrying value of the mortgaged assets | - | €550,566 | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €6,770 | - | - | €12,342 | €14,819 |
| Depreciation and write-downs of the year | €45,229 | €45,299 | €44,866 | €27,207 | €28,935 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €150,574 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €45,850 | €45,850 | €45,850 | €45,229 | €45,299 | €44,866 | €27,207 | €28,935 | ▲ 6.4% |
| Other operating charges640/8 | - | - | - | €13,988 | €11,535 | €12,695 | €13,130 | €9,059 | ▼ 31.0% |
| Gross operating margin9900 | €133,894 | €107,222 | €92,368 | €96,930 | €96,996 | €111,940 | €234,934 | €75,790 | ▼ 67.7% |
| Operating profit (loss)9901 | €77,134 | €41,709 | €35,060 | €37,713 | €40,161 | €54,379 | €194,597 | €37,796 | ▼ 80.6% |
| Financial income75/76B | - | - | - | €0 | €62 | - | €6 | €6,607 | ▲ 1,049× |
| Recurring financial income75 | €0 | €2,058 | €0 | €0 | €62 | - | €6 | €6,451 | ▲ 1,024× |
| Non-recurring financial income76B | - | - | - | - | - | - | - | €156 | - |
| Financial charges65/66B | - | - | - | €17,983 | €15,054 | €13,216 | €13,311 | €9,418 | ▼ 29.2% |
| Recurring financial charges65 | €21,054 | €19,867 | €18,282 | €16,883 | €15,054 | €13,216 | €11,494 | €9,418 | ▼ 18.1% |
| Non-recurring financial charges66B | - | - | - | €1,100 | - | - | €1,817 | - | - |
| Profit (loss) for the period before taxes9903 | €56,081 | €23,900 | €16,778 | €19,731 | €25,170 | €41,164 | €181,293 | €34,984 | ▼ 80.7% |
| Transfer to deferred taxes680 | - | - | - | - | - | - | €37,643 | - | - |
| Income taxes67/77 | - | - | €1,690 | €5,162 | €5,899 | €9,557 | €16,629 | €9,157 | ▼ 44.9% |
| Profit (loss) for the period9904 | €56,081 | €23,900 | €15,088 | €14,569 | €19,270 | €31,607 | €127,020 | €25,828 | ▼ 79.7% |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | - | €112,930 | - | - |
| Profit (loss) for the period to be appropriated9905 | €56,081 | €23,900 | €15,088 | €14,569 | €19,270 | €31,607 | €14,089 | €25,828 | ▲ 83.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.0m | €1.0m | €0.9m | €0.9m | €0.9m | €0.8m | €0.9m | €0.8m | ▼ 5.5% |
| Fixed assets21/28 | €1.0m | €1.0m | €0.9m | €0.9m | €0.8m | €0.8m | €0.5m | €0.5m | ▼ 2.7% |
| Tangible fixed assets22/27 | €1.0m | €1.0m | €0.9m | €0.9m | €0.8m | €0.8m | €0.5m | €0.5m | ▼ 2.7% |
| Land and buildings22 | - | - | - | €0.9m | €0.8m | €0.8m | €0.5m | €0.5m | ▼ 2.3% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | €0.01m | €0.008m | ▼ 22.7% |
| Current assets29/58 | €0.02m | €0.01m | €0.003m | €0.006m | €0.02m | €0.02m | €0.4m | €0.3m | ▼ 9.4% |
| Amounts receivable within one year40/41 | €406 | €5 | €42 | €239 | €5 | €430 | €0.002m | €0.002m | ▼ 0.1% |
| Trade receivables40 | - | - | - | €140 | - | €426 | €2 | - | - |
| Other amounts receivable41 | - | - | - | €99 | €5 | €5 | €0.002m | €0.002m | = |
| Current investments50/53 | €0.01m | - | - | - | - | - | €0.3m | €0.3m | = |
| Cash at bank and in hand54/58 | €0.01m | €0.01m | €0.001m | €0.003m | €0.02m | €0.02m | €0.07m | €0.03m | ▼ 53.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.003m | €0.002m | €0.002m | €0.003m | €0.003m | ▲ 3.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.0m | €1.0m | €0.9m | €0.9m | €0.9m | €0.8m | €0.9m | €0.8m | ▼ 5.5% |
| Equity10/15 | €0.06m | €0.09m | €0.1m | €0.1m | €0.1m | €0.2m | €0.3m | €0.3m | ▲ 8.7% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.2m | €0.2m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | - | - | - |
| Tax-exempt reserves132 | - | - | - | - | - | - | €0.1m | €0.1m | = |
| Distributable reserves133 | - | - | - | €0.05m | €0.05m | €0.05m | €0.06m | €0.06m | = |
| Profit (loss) carried forward14 | -€0.01m | €0.01m | €0.03m | €0.04m | €0.06m | €0.09m | €0.1m | €0.1m | ▲ 23.9% |
| Provisions and deferred taxes16 | - | - | - | - | - | - | €0.04m | €0.04m | = |
| Deferred taxes168 | - | - | - | - | - | - | €0.04m | €0.04m | = |
| Amounts payable17/49 | €1.0m | €0.9m | €0.8m | €0.8m | €0.7m | €0.6m | €0.6m | €0.5m | ▼ 13.4% |
| Amounts payable after more than one year17 | €0.7m | €0.7m | €0.7m | €0.6m | €0.5m | €0.4m | €0.3m | €0.2m | ▼ 26.0% |
| Financial debts170/4 | - | - | - | €0.6m | €0.5m | €0.4m | €0.3m | €0.2m | ▼ 26.0% |
| Amounts payable within one year42/48 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 5.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.07m | €0.07m | €0.07m | €0.08m | €0.09m | ▲ 4.9% |
| Trade debts44 | €142 | €266 | €365 | €237 | €145 | €0.003m | €494 | €35 | ▼ 92.9% |
| Suppliers440/4 | - | - | - | €237 | €145 | €0.003m | €494 | €35 | ▼ 92.9% |
| Taxes, remuneration and social security45 | - | - | - | €0.005m | €0.006m | €0.007m | €0.009m | €0.003m | ▼ 70.8% |
| Taxes450/3 | - | - | - | €0.005m | €0.006m | €0.007m | €0.009m | €0.003m | ▼ 70.8% |
| Other amounts payable47/48 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 10.9% |
| Accrued charges and deferred income492/3 | - | - | - | €0.006m | €0.02m | €0.01m | €0.001m | €40 | ▼ 96.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €56,081 | €23,900 | €15,088 | €14,569 | €19,270 | €31,607 | €127,020 | €25,828 | ▼ 79.7% |
| + Depreciation and write-downs630 | €45,850 | €45,850 | €45,850 | €45,229 | €45,299 | €44,866 | €27,207 | €28,935 | ▲ 6.4% |
| Operating cash flow (approximation) | €101,931 | €69,750 | €60,938 | €59,797 | €64,570 | €76,473 | €154,227 | €54,763 | ▼ 64.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€6,770 | €0 | €0 | €237,084 | -€14,819 | - |
| Change in cash | - | €3 | -€11,041 | €2,574 | €15,847 | -€1,906 | €49,189 | -€35,148 | - |
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, 14,766 companies had the same profile as Debees has now. Two years later, 96.2% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
96.2%
was still going
3.5%
stopped otherwise
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Debees 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 14,766 companies, not a prediction for Debees. 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 42 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-05-2026 | 2026-00126277 | |
| 31-12-2024 | micro format | 06-06-2025 | 2025-00136911 | |
| 31-12-2023 | micro format | 26-06-2024 | 2024-00171776 | |
| 31-12-2022 | micro format | 10-08-2023 | 2023-00325799 | |
| 31-12-2021 | micro format | 30-09-2022 | 2022-20441859 | |
| 31-12-2020 | micro format | 30-08-2021 | 2021-59700241 | |
| 31-12-2019 | micro format | 01-10-2020 | 2020-58100391 | |
| 31-12-2018 | micro format | 19-08-2019 | 2019-49100423 | |
| 31-12-2017 | micro format | 09-08-2018 | 2018-45900216 | |
| 31-12-2016 | micro format | 03-07-2017 | 2017-26900174 |