Checked.be
Active
BE 0456.555.046Private limited company
DECALEC
Elzenlaan 9 ·9870 Zulte, Belgium· 30 yrs active
Sector: General electrical installation work
(43211)
Conclusion
DECALEC has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €696k and a net result of €2k. Equity is growing by ~3.1% per year across the filed fiscal years. Its solvency ranks better than 93% of 7448 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €696k |
| Net result | €2k |
| Staff (FTE) | 5 |
| Better than sector | 93% |
Financial profile
68
/ 100
Strong profile, led by solvency.
All 5 axes are computed from data Checked has read.
Health
86
Profitability
1
Solvency
100
Growth
52
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1995, 30 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
86
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€60k
estimate, not credit advice
Score history
86
2022
94
2023
94
2024
86
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 6.44 (≥ 1.5)
+10
Quick ratio
Quick ratio 5.20 (≥ 1.0)
+5
Leverage
Debt/equity 0.14 (< 1.0)
+10
Profitability
ROE 0%
+3
Interest coverage
Interest coverage 5.9× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 14-07-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~3.1%/year over 4 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 43, Specialised construction activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 87.6% | 44.0% | |
| Net result | €2k | €30k | |
| Equity | €696k | €276k | |
| Gross operating margin | €429k | €275k | |
| Staff costs | €391k | €244k |
€36k
-72.1%
22-25
€2k
-97.5%
22-25
€25k
-71.7%
22-25
€795k
+1.1%
22-25
€696k
+0.2%
22-25
€530k
+3.2%
22-25
5
0.0%
22-25
€391k
+3.4%
22-25
€4k
-86.9%
22-25
€0
-100.0%
22-25
€98k
+7.3%
22-25
€97k
+7.4%
22-25
6.44
-3.3%
22-25
5.20
-14.0%
22-25
87.6%
-0.8%
22-25
0.14
+7.1%
22-25
0.2%
-97.5%
22-25
0.2%
-97.6%
22-25
5.87
-72.4%
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - |
| EBITDA | €36k | €128k | €73k | €29k |
| Net profit | €2k | €68k | €44k | €3k |
| Cash flow | €25k | €90k | €71k | €26k |
| Staff costs | €391k | €378k | €367k | €331k |
| Income taxes | €4k | €32k | €906 | €499 |
| Dividends | €0 | €47k | - | - |
| Total assets | €795k | €786k | €773k | €703k |
| Equity | €696k | €695k | €674k | €630k |
| Debt | €98k | €92k | €100k | €74k |
| of which ≤ 1y | €97k | €91k | €99k | €73k |
| of which > 1y | - | - | - | - |
| Working capital | €530k | €514k | €483k | €450k |
| Employees (FTE) | 5.0 | 5.0 | 5.0 | 5.0 |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 6.44 | 6.66 | 5.90 | 7.18 |
| Quick ratio | 5.20 | 6.05 | 4.53 | 6.29 |
| Working capital ratio | 66.7% | 65.3% | 62.5% | 64.0% |
| Solvency | 87.6% | 88.3% | 87.1% | 89.5% |
| Debt / equity | 0.14 | 0.13 | 0.15 | 0.12 |
| Long-term debt ratio | - | - | - | - |
| Interest coverage | 5.87 | 21.26 | 46.74 | 14.00 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | 0.2% | 8.7% | 5.7% | 0.5% |
| ROE | 0.2% | 9.8% | 6.6% | 0.6% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (26 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €795k | €786k | €773k | €703k |
| Fixed assets | 21/28 | €167k | €182k | €192k | €180k |
| Intangible fixed assets | 21 | €3k | €4k | - | - |
| Tangible fixed assets | 22/27 | €164k | €178k | €191k | €180k |
| Financial fixed assets | 28 | €257 | €257 | €257 | €257 |
| Current assets | 29/58 | €628k | €604k | €582k | €523k |
| Stocks & contracts in progress | 3 | €120k | €55k | €135k | €65k |
| Amounts receivable within one year | 40/41 | €124k | €173k | €101k | €158k |
| Investments | 50/53 | €189k | €189k | €180k | €169k |
| Cash & bank | 54/58 | €167k | €165k | €136k | €108k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €795k | €786k | €773k | €703k |
| Equity | 10/15 | €696k | €695k | €674k | €630k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k |
| Reserves | 13 | €678k | €676k | €655k | €611k |
| Accumulated profits (losses) | 14 | €0 | €0 | - | - |
| Amounts payable | 17/49 | €98k | €92k | €100k | €74k |
| Amounts payable within one year | 42/48 | €97k | €91k | €99k | €73k |
| Trade debts payable within one year | 44 | €61k | €44k | €64k | €36k |
| Income statement | |||||
| Gross operating margin | 9900 | €429k | €509k | €444k | €364k |
| Operating result | 9901 | €12k | €106k | €47k | €6k |
| Financial income | 75 | €35 | €33 | €10 | €3 |
| Financial charges | 65 | €6k | €6k | €2k | €2k |
| Result before taxes | 9903 | €6k | €100k | €45k | €4k |
| Income taxes | 67/77 | €4k | €32k | €906 | €499 |
| Net result for the period | 9904 | €2k | €68k | €44k | €3k |
| Result to be appropriated | 9905 | €2k | €68k | €44k | €3k |
Legal Structure
| NACE primary | General electrical installation work(43211) |
| Legal form | Private limited company(610) |
| Incorporation | 24-11-1995 |
| Status | Active |
| Postal code | 9870 |
Establishment units
DECALEC BVBA
since 20002.075.122.285
Real-estate footprint
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44081C0545/00P002 | Flanders | 476 m² | 1 · 126 m² | 8.2 m · 2 fl. |
| 44081C0087/00R000 | Flanders | 442 m² | 1 · 297 m² | 3.7 m · 1 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €2k ▼97.5%
Net result drops to €2k, the lowest in the series.
26-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2022net €68k ▲54%
Operating result €106k, net result €68k, both a record.
15-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
18-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
17-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
08-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
General electrical installation work4321145310
Names & trade names
| Legal nameNL | DECALEC |
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