DECLERCQ KOEN
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 31-07-2026 at the NBB all 23 filings
Turnover
≈ €250,000
Estimated: probably between €170,000 and €440,000
Total assets
€764,799▲ 5.2%
2024 · €727,262
Net result
€52,200▼ 45.5%
2024 · €95,808
Working capital
€713,885▲ 8.5%
2024 · €658,246
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 45% lower than in 2024 and the lowest since 2021.
Operating result€74,328
2025
Net result€52,200
2025
Total assets€764,799
2025
Equity€756,394
2025
Debt€8,405
2025
Working capital€713,885
2025
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€57,194-€73,071▲ 27.8%€49,495▼ 32.3%€195,341▲ 295%€107,644▼ 44.9%€87,980▼ 18.3%€135,334▲ 53.8%€74,328▼ 45.1%
Net result€38,883-€50,985▲ 31.1%€34,332▼ 32.7%€135,249▲ 294%€75,542▼ 44.1%€62,015▼ 17.9%€95,808▲ 54.5%€52,200▼ 45.5%
Equity€503,915-€554,087▲ 10.0%€545,356▼ 1.6%€637,805▲ 17.0%€712,547▲ 11.7%€610,052▼ 14.4%€705,027▲ 15.6%€756,394▲ 7.3%
Total assets€537,677-€579,093▲ 7.7%€565,695▼ 2.3%€656,034▲ 16.0%€734,760▲ 12.0%€636,080▼ 13.4%€727,262▲ 14.3%€764,799▲ 5.2%
Debt€33,763-€25,006▼ 25.9%€20,339▼ 18.7%€18,229▼ 10.4%€22,213▲ 21.9%€26,028▲ 17.2%€22,235▼ 14.6%€8,405▼ 62.2%
Working capital€330,608-€356,688▲ 7.9%€365,774▲ 2.5%€581,775▲ 59.1%€655,144▲ 12.6%€558,995▼ 14.7%€658,246▲ 17.8%€713,885▲ 8.5%
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 €764,799
Fixed assets
€42,509 ▼ 9.1%
Current assets
€722,290 ▲ 6.1%
Equity and liabilities €764,799
Equity
€756,394 ▲ 7.3%
Debt
€8,405 ▼ 62.2%
Debt's share of the balance-sheet total falls from 3.1% to 1.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€79,420▼
2024 · €140,610
Cash flow
€57,292▼
2024 · €101,083
Current ratio
85.94▲
2024 · 30.60
Debt to equity
0.01▼
2024 · 0.03
ROE
6.9%▼
2024 · 13.6%
ROA
6.8%▼
2024 · 13.2%
Interest coverage
52.75▼
2024 · 57.13
Debt ≤ 1 year
€8,405▼
2024 · €22,235
Income taxes
€23,491▼
2024 · €38,919
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,564 | €3,349 | €5,776 | €999 | €820 |
| Depreciation and write-downs of the year | €12,918 | €11,969 | €12,122 | €5,276 | €5,092 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Companies with the same profile, two years later
Historical observationIn July 2024, 20,136 companies had the same profile as DECLERCQ KOEN has now. Two years later, 0.2% had gone bankrupt and 95.0% were 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
95.0%
was still going
That fits the bankruptcy probability of DECLERCQ KOEN 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 DECLERCQ KOEN. 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.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,239 | €20,970 | €19,616 | €12,918 | €11,969 | €12,122 | €5,276 | €5,092 | ▼ 3.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €120 | €445 | €115 | €50 | €2,674 | ▲ 53× |
| Other operating charges640/8 | - | - | - | €4,203 | €2,725 | €2,230 | €2,142 | €1,856 | ▼ 13.3% |
| Gross operating margin9900 | €81,367 | €101,087 | €73,113 | €212,582 | €122,782 | €102,447 | €142,801 | €83,950 | ▼ 41.2% |
| Operating profit (loss)9901 | €57,194 | €73,071 | €49,495 | €195,341 | €107,644 | €87,980 | €135,334 | €74,328 | ▼ 45.1% |
| Financial income75/76B | - | - | - | - | - | €860 | €1,854 | €2,869 | ▲ 54.8% |
| Recurring financial income75 | €100 | €111 | €111 | - | - | €860 | €1,854 | €2,869 | ▲ 54.8% |
| Financial charges65/66B | - | - | - | €2,199 | €2,168 | €2,702 | €2,461 | €1,506 | ▼ 38.8% |
| Recurring financial charges65 | €2,987 | €2,481 | €2,107 | €2,199 | €2,168 | €2,702 | €2,461 | €1,506 | ▼ 38.8% |
| Profit (loss) for the period before taxes9903 | €54,306 | €70,701 | €47,499 | €193,142 | €105,476 | €86,138 | €134,727 | €75,691 | ▼ 43.8% |
| Income taxes67/77 | €15,423 | €19,716 | €13,167 | €57,893 | €29,934 | €24,123 | €38,919 | €23,491 | ▼ 39.6% |
| Profit (loss) for the period9904 | €38,883 | €50,985 | €34,332 | €135,249 | €75,542 | €62,015 | €95,808 | €52,200 | ▼ 45.5% |
| Profit (loss) for the period to be appropriated9905 | €38,883 | €50,985 | €34,332 | €135,249 | €75,542 | €62,015 | €95,808 | €52,200 | ▼ 45.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €537,677 | €579,093 | €565,695 | €656,034 | €734,760 | €636,080 | €727,262 | €764,799 | ▲ 5.2% |
| Fixed assets21/28 | €190,459 | €204,890 | €188,247 | €66,023 | €57,403 | €51,058 | €46,781 | €42,509 | ▼ 9.1% |
| Tangible fixed assets22/27 | €190,459 | €204,890 | €188,247 | €66,023 | €57,403 | €51,058 | €46,781 | €42,509 | ▼ 9.1% |
| Land and buildings22 | - | - | - | €46,731 | €45,369 | €41,628 | €39,060 | €36,492 | ▼ 6.6% |
| Plant, machinery and equipment23 | - | - | - | €7,089 | €5,088 | €4,006 | €3,542 | €3,083 | ▼ 13.0% |
| Furniture and vehicles24 | - | - | - | €12,203 | €6,946 | €5,423 | €4,179 | €2,934 | ▼ 29.8% |
| Current assets29/58 | €347,218 | €374,203 | €377,448 | €590,011 | €677,357 | €585,023 | €680,481 | €722,290 | ▲ 6.1% |
| Amounts receivable within one year40/41 | €11,598 | €26,573 | €3,969 | €1,505 | €10,271 | €11,382 | €2,674 | €17,369 | ▲ 550% |
| Trade receivables40 | - | - | - | €1,505 | €205 | €247 | €2,674 | - | - |
| Other amounts receivable41 | - | - | - | - | €10,066 | €11,135 | - | €17,369 | - |
| Cash at bank and in hand54/58 | €333,076 | €344,975 | €370,735 | €585,645 | €664,423 | €570,877 | €674,924 | €704,010 | ▲ 4.3% |
| Deferred charges and accrued income490/1 | - | - | - | €2,861 | €2,663 | €2,764 | €2,883 | €911 | ▼ 68.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €537,677 | €579,093 | €565,695 | €656,034 | €734,760 | €636,080 | €727,262 | €764,799 | ▲ 5.2% |
| Equity10/15 | €503,915 | €554,087 | €545,356 | €637,805 | €712,547 | €610,052 | €705,027 | €756,394 | ▲ 7.3% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Contributions outside capital11 | - | - | - | €18,600 | €18,600 | €18,600 | - | - | - |
| Other1109/19 | - | - | - | €18,600 | €18,600 | €18,600 | - | - | - |
| Reserves13 | €485,315 | €535,487 | €526,756 | €619,205 | €693,947 | €591,452 | €686,427 | €737,794 | ▲ 7.5% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €617,345 | €692,087 | €591,452 | €686,427 | €737,794 | ▲ 7.5% |
| Amounts payable17/49 | €33,763 | €25,006 | €20,339 | €18,229 | €22,213 | €26,028 | €22,235 | €8,405 | ▼ 62.2% |
| Amounts payable after more than one year17 | €17,153 | €6,319 | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €16,610 | €17,515 | €11,674 | €8,236 | €22,213 | €26,028 | €22,235 | €8,405 | ▼ 62.2% |
| Trade debts44 | €3,937 | €4,838 | €3,865 | €1,258 | €2,026 | €3,065 | €3,139 | €111 | ▼ 96.5% |
| Suppliers440/4 | - | - | - | €1,258 | €2,026 | €3,065 | €3,139 | €111 | ▼ 96.5% |
| Taxes, remuneration and social security45 | - | - | - | €6,979 | €5,190 | €2,795 | €4,519 | €497 | ▼ 89.0% |
| Taxes450/3 | - | - | - | €6,979 | €5,190 | €2,795 | €4,519 | €497 | ▼ 89.0% |
| Other amounts payable47/48 | - | - | - | - | €14,997 | €20,168 | €14,577 | €7,797 | ▼ 46.5% |
| Accrued charges and deferred income492/3 | - | - | - | €9,993 | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €38,883 | €50,985 | €34,332 | €135,249 | €75,542 | €62,015 | €95,808 | €52,200 | ▼ 45.5% |
| + Depreciation and write-downs630 | €19,239 | €20,970 | €19,616 | €12,918 | €11,969 | €12,122 | €5,276 | €5,092 | ▼ 3.5% |
| Operating cash flow (approximation) | €58,122 | €71,955 | €53,947 | €148,167 | €87,510 | €74,137 | €101,083 | €57,292 | ▼ 43.3% |
| Investment in fixed assets (approximation) | - | -€35,401 | -€2,972 | €109,305 | -€3,349 | -€5,776 | -€999 | -€820 | ▲ 17.9% |
| Change in cash | - | €11,899 | €25,760 | €214,910 | €78,778 | -€93,546 | €104,048 | €29,086 | ▼ 72.0% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 23 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-07-2026 | 2026-00364430 | NBB |
| 31-12-2024 | micro format | 14-07-2025 | 2025-00266711 | |
| 31-12-2023 | micro format | 24-06-2024 | 2024-00165633 | |
| 31-12-2022 | micro format | 27-06-2023 | 2023-00169401 | |
| 31-12-2021 | micro format | 30-06-2022 | 2022-20128882 | |
| 31-12-2020 | micro format | 02-07-2021 | 2021-30400127 | |
| 31-12-2019 | micro format | 04-07-2020 | 2020-26800303 | |
| 31-12-2018 | micro format | 28-06-2019 | 2019-26400379 | |
| 31-12-2017 | micro format | 08-06-2018 | 2018-17100268 | |
| 31-12-2016 | micro format | 02-06-2017 | 2017-14700381 |