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DEBUT

Active
Public limited companyfounded 198739 yrs activeAvenue d'Ecolys(RH) 2, 5020 Namur, BelgiumKBO/BCE: BE 0431.371.074
Summary

DEBUT has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €182,255 and a net result of €263,519. Equity is growing by ~23.9% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.5% (low).

Checked score

Score 2025
Axes · tick = 2024
Profitability100=
Solvency57▲+45
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15,000 at 30 days acceptable
Liquidity short (current ratio 0.08 against 0.03 in 2024; short-term debt: 19.2% of total assets), and 68.1% of the assets are financed with debt.
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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · No NACE activity registered
No NACE activity is registered in the KBO, which is more common among companies that later fail.
KBO · activities
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 39 years 0 40 y
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
31.9%
Return on assets
46.1%
Age of the figures
9 mo
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filings
Deviation from the deadline
2025
28 d late
2024
26 d late
2023
30 d late
2022
26 d early
2021
30 d early
2020
2 d early
2019
38 d early
← before the deadline after the deadline →
tick = median of all Belgian filings

This company filed its last 7 accounts on average 2 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven months
Position in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 3 June 1987, DEBUT was incorporated.1 Total assets went from EUR 898,093 in 2018 to EUR 571,628 in 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018 and 2025

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Financials · fiscal year 2025, full schema

Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€263,519=
2024 · €263,584
Working capital
-€101,183▲ 62.9%
2024 · -€273,002
Trend over the years

Click a name to add, emphasise or remove a line.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20212022202320242025
Operating result€227,906▲ 22.1%€248,974▲ 9.2%€451,716▲ 81.4%€373,987▼ 17.2%€366,989▼ 1.9%
Net result€128,815▲ 89.1%€151,151▲ 17.3%€302,893▲ 100%€263,584▼ 13.0%€263,519=
Equity-€798,891▲ 13.9%-€647,740▲ 18.9%-€344,847▲ 46.8%-€81,263▲ 76.4%€182,255
Total assets€805,050▲ 4.0%€714,207▼ 11.3%€673,522▼ 5.7%€602,760▼ 10.5%€571,628▼ 5.2%
Debt€1.6m▼ 5.7%€1.4m▼ 15.1%€1.0m▼ 25.2%€684,023▼ 32.8%€389,373▼ 43.1%
Working capital-€271,117▲ 71.7%-€249,017▲ 8.2%-€299,702▼ 20.4%-€273,002▲ 8.9%-€101,183▲ 62.9%
Why a figure moved sharply
  • 2023 Net result +100% on 2022. This fiscal year ran 15 months, the previous one 12.
Result per fiscal year
Operating resultNet result
€0€200,000€400,000Operating result 2021: €227,906€227,906Net result 2021: €128,815€128,815Operating result 2022: €248,974€248,974Net result 2022: €151,151€151,151Operating result 2023: €451,716€451,716Net result 2023: €302,893€302,893Operating result 2024: €373,987€373,987Net result 2024: €263,584€263,584Operating result 2025: €366,989€366,989Net result 2025: €263,519€263,51920212022202320242025€0€200,000€400,000Operating result 2023: €451,716€452,000Net result 2023: €302,893€303,000Operating result 2024: €373,987€374,000Net result 2024: €263,584€264,000Operating result 2025: €366,989€367,000Net result 2025: €263,519€264,000202320242025
The operating result has fallen two years in a row; 2025 is 2% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €571,628
Fixed assets €562,806 ▼ 5.3%
Current assets €8,822 ▲ 1.1%
Equity and liabilities €571,628
Equity €182,255
Debt €389,373
Debt finances 68.1% of the balance-sheet total.
Key figures and ratios
2025 value · change against 2024
EBITDA
€398,220▼
2024 · €405,217
Cash flow
€294,749=
2024 · €294,814
Current ratio
0.08▲
2024 · 0.03
Debt to equity
2.14▲
2024 · -8.42
ROE
144.6%
ROA
46.1%▲
2024 · 43.7%
Interest coverage
70.80▲
2024 · 30.14
Debt ≤ 1 year
€110,005▼
2024 · €281,725
Debt > 1 year
€279,368▼
2024 · €402,298
Income taxes
€97,846▲
2024 · €96,959
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 20,082 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.

  • Small
  • 20 years or older
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more
0.2% went bankrupt
4.7% stopped otherwise
95% still going

For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.4%
3 0.5% 0.5%
4 0.6% 0.7%
5 0.8% 0.9%
6 1.2% 1.3%
7 1.5% 1.6%
8 1.7% 1.7%
9 2.7% 2.8%
10 5.3% 5.7%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.

An observation about 20,082 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 41 lines
Balance sheet Code20242025
Assets
Total assets20/58€602,760€571,628▼
Fixed assets21/28€594,036€562,806▼
Tangible fixed assets22/27€594,036€562,806▼
Land and buildings22€594,036€562,806▼
Current assets29/58€8,724€8,822▲
Deferred charges and accrued income490/1€8,724€8,822▲
Equity and liabilities
Total equity and liabilities10/49€602,760€571,628▼
Equity10/15-€81,263€182,255▲
Contributions10/11€267,649€267,649=
Capital10€267,649€267,649=
Issued capital100€267,649€267,649=
Revaluation surpluses12€233,172€214,436▼
Reserves13€1.4m€1.4m▲
Non-distributable reserves130/1€992€992=
Legal reserve130€992€992=
Distributable reserves133€1.4m€1.4m▲
Profit (loss) carried forward14-€2.0m-€1.7m▲
Amounts payable17/49€684,023€389,373▼
Amounts payable after more than one year17€402,298€279,368▼
Other amounts payable178/9€402,298€279,368▼
Amounts payable within one year42/48€281,725€110,005▼
Current portion of amounts payable after more than one year42€96,536-
Trade debts44€1,271€1,210▼
Suppliers440/4€1,271€1,210▼
Advances received on contracts in progress46€48,145€53,990▲
Taxes, remuneration and social security45€135,774€54,805▼
Taxes450/3€135,774€54,805▼
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€31,230€31,230=
Other operating charges640/8€43,587€44,961▲
Gross operating margin9900€448,804€443,180▼
Operating profit (loss)9901€373,987€366,989▼
Financial income75/76B-€0
Recurring financial income75-€0
Financial charges65/66B€13,444€5,625▼
Recurring financial charges65€13,444€5,625▼
Profit (loss) for the period before taxes9903€360,543€361,365▲
Income taxes67/77€96,959€97,846▲
Profit (loss) for the period9904€263,584€263,519=
Profit (loss) for the period to be appropriated9905€263,584€263,519=
Appropriation of the result
Profit (loss) to be appropriated9906-€2.0m-€1.7m▲
Profit (loss) brought forward from the previous period14P-€2.3m-€2.0m▲

The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€31,223€31,223€39,028€31,230€31,230=
Other operating charges640/8-€38,321€51,601€43,587€44,961▲ 3.2%
Gross operating margin9900€287,739€318,518€542,345€448,804€443,180▼ 1.3%
Operating profit (loss)9901€227,906€248,974€451,716€373,987€366,989▼ 1.9%
Financial income75/76B-€0--€0-
Recurring financial income75-€0--€0-
Financial charges65/66B-€39,044€30,008€13,444€5,625▼ 58.2%
Recurring financial charges65€45,453€39,044€30,008€13,444€5,625▼ 58.2%
Profit (loss) for the period before taxes9903€182,452€209,930€421,708€360,543€361,365▲ 0.2%
Income taxes67/77€53,637€58,779€118,815€96,959€97,846▲ 0.9%
Profit (loss) for the period9904€128,815€151,151€302,893€263,584€263,519=
Profit (loss) for the period to be appropriated9905€128,815€151,151€302,893€263,584€263,519=
Line20212022202320242025Change
Assets
Total assets20/58€805,050€714,207€673,522€602,760€571,628▼ 5.2%
Fixed assets21/28€695,518€664,295€625,266€594,036€562,806▼ 5.3%
Tangible fixed assets22/27€695,518€664,295€625,266€594,036€562,806▼ 5.3%
Land and buildings22-€664,295€625,266€594,036€562,806▼ 5.3%
Current assets29/58€109,532€49,912€48,256€8,724€8,822▲ 1.1%
Amounts receivable within one year40/41€81,180€20,850€27,712---
Trade receivables40-€20,850€27,712---
Current investments50/53€34€16----
Deferred charges and accrued income490/1-€29,046€20,544€8,724€8,822▲ 1.1%
Equity and liabilities
Total equity and liabilities10/49€805,050€714,207€673,522€602,760€571,628▼ 5.2%
Equity10/15-€798,891-€647,740-€344,847-€81,263€182,255▲ 324%
Contributions10/11€267,649€267,649€267,649€267,649€267,649=
Capital10-€267,649€267,649€267,649€267,649=
Issued capital100-€267,649€267,649€267,649€267,649=
Revaluation surpluses12-€275,320€251,909€233,172€214,436▼ 8.0%
Reserves13€1.3m€1.4m€1.4m€1.4m€1.4m▲ 1.3%
Non-distributable reserves130/1-€992€992€992€992=
Legal reserve130-€992€992€992€992=
Distributable reserves133-€1.4m€1.4m€1.4m€1.4m▲ 1.3%
Profit (loss) carried forward14-€2.7m-€2.6m-€2.3m-€2.0m-€1.7m▲ 13.2%
Amounts payable17/49€1.6m€1.4m€1.0m€684,023€389,373▼ 43.1%
Amounts payable after more than one year17€1.2m€1.0m€670,412€402,298€279,368▼ 30.6%
Financial debts170/4-€328,237€96,536---
Other amounts payable178/9-€705,707€573,877€402,298€279,368▼ 30.6%
Amounts payable within one year42/48€380,649€298,929€347,958€281,725€110,005▼ 61.0%
Current portion of amounts payable after more than one year42-€175,864€186,437€96,536--
Trade debts44€119,400€72,654€21,377€1,271€1,210▼ 4.8%
Suppliers440/4-€72,654€21,377€1,271€1,210▼ 4.8%
Advances received on contracts in progress46-€41,633€21,328€48,145€53,990▲ 12.1%
Taxes, remuneration and social security45-€8,779€118,815€135,774€54,805▼ 59.6%
Taxes450/3-€8,779€118,815€135,774€54,805▼ 59.6%
Accrued charges and deferred income492/3-€29,074----
Line20212022202320242025Change
Profit (loss) for the period9904€128,815€151,151€302,893€263,584€263,519=
+ Depreciation and write-downs630€31,223€31,223€39,028€31,230€31,230=
Operating cash flow (approximation)€160,038€182,374€341,921€294,814€294,749=
Investment in fixed assets (approximation)-€0€0€0€0-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
28-08
NBB filing Annual accounts filed
fiscal year 2025 · full schema · 28 days late
2025
31-12
Financial Equity above €150,000Eq €182,255
6 profitable years in a row build equity to €182,255.
26-08
NBB filing Annual accounts filed
fiscal year 2024 · full schema · 26 days late
2024
30-08
NBB filing Annual accounts filed
fiscal year 2023 · full schema · 30 days late
2023
31-12
Financial Highest result since 2018net €302,893 ▲100%
Operating result €451,716, net result €302,893, both a record.
04-04
NBB filing Annual accounts filed
fiscal year 2022 · full schema
2022
31-03
NBB filing Annual accounts filed
fiscal year 2021 · full schema
2021
28-04
NBB filing Annual accounts filed
fiscal year 2020 · full schema
2020
30-09
Financial Back to profitnet €68,137
Net result €68,137 after 2 loss-making years.
23-03
NBB filing Annual accounts filed
fiscal year 2019 · full schema
2019
27-03
NBB filing Annual accounts filed
fiscal year 2018 · full schema
2017
28-06
NBB filing Annual accounts filed
fiscal year 2016 · full schema
2016
25-08
NBB filing Annual accounts filed
fiscal year 2015 · full schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts

We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Namur · 1 establishment unit since 1987
seat establishment The establishment unit on the map
Ground area
3.4 ha
Building footprint
6,467 m²
Parcel 92120F0142/00A000, Wallonia. Linked by address, not a title deed.
1 establishment unit
DEBUT
Avenue d'Ecolys(RH) 2, 5020 NamurActivities of head offices; management consultancy activities
since 19872.102.584.866
1 parcel
Wallonia 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
92120F0142/00A000 Wallonia 3.4 ha 1 · 6,467 m² -
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Structure & network

Part of the group SACOFI 11 companies Group, risk and exposure

Owners and holdings

1 owner

Chain of control

  1. SACOFI 100%
  2. DEBUT

Highest known parent: SACOFI. The sources do not say who stands above it.

Owners 1

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

No current directors or connected companies found in the register.

Identification & contact

Identification
Legal formPublic limited company
Founded03-06-1987
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID 0208:0431371074
Registered 30-03-2026

Register as of 27 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.