DECOLOC
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 08-06-2026 PDF all 10 filings
Turnover
≈ €110,000
Estimated: probably between €62,000 and €170,000
EBIT margin
Not included in this filing
Net result
€33,379
2024 · -€17,720
Working capital
€19,606▼ 55.4%
2024 · €44,004
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€35,286
2025
20182025
Net result
€33,379
2025
highest quarter of the sector
20182025
Equity
€26,254
▲ 104%
2025
middle half of the sector
20182025
Total assets
€66,163
▼ 10.7%
2025
middle half of the sector
20182025
Debt
€39,909
▼ 34.8%
2025
20182025
Working capital
€19,606
▼ 55.4%
2025
middle half of the sector
20182025
Solvency
39.7%
▲ 22.3pp
2025
middle half of the sector
20182025
Current ratio
1.49
▼ 1.54
2025
middle half of the sector
20182025
Return on assets (ROA)
50.4%
▲ 74.4pp
2025
highest quarter of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€47,602-€11,839-€11,841€19,554€6,859▼ 64.9%-€1,218-€17,288▼ 1,319%€35,286
Net result-€49,428-€9,694-€13,608below the sector's middle half€17,859within the sector's middle half€5,984within the sector's middle half▼ 66.5%-€1,840within the sector's middle half-€17,720below the sector's middle half▼ 863%€33,379above the sector's middle half
Equity€12,506-€22,200▲ 77.5%€8,592within the sector's middle half▼ 61.3%€26,451within the sector's middle half▲ 208%€32,435within the sector's middle half▲ 22.6%€30,595within the sector's middle half▼ 5.7%€12,875within the sector's middle half▼ 57.9%€26,254within the sector's middle half▲ 104%
Total assets€175,015-€166,832▼ 4.7%€129,411within the sector's middle half▼ 22.4%€177,687within the sector's middle half▲ 37.3%€162,765within the sector's middle half▼ 8.4%€128,435within the sector's middle half▼ 21.1%€74,078within the sector's middle half▼ 42.3%€66,163within the sector's middle half▼ 10.7%
Debt€162,509-€144,632▼ 11.0%€120,819▼ 16.5%€151,236▲ 25.2%€130,330▼ 13.8%€97,840▼ 24.9%€61,203▼ 37.4%€39,909▼ 34.8%
Working capital-€17,456--€671▲ 96.2%€8,703within the sector's middle half€59,122within the sector's middle half▲ 579%€68,485within the sector's middle half▲ 15.8%€72,191within the sector's middle half▲ 5.4%€44,004within the sector's middle half▼ 39.0%€19,606within the sector's middle half▼ 55.4%
Solvency7.1%-13.3%▲ 6.2pp6.6%below the sector's middle half▼ 6.7pp14.9%within the sector's middle half▲ 8.2pp19.9%within the sector's middle half▲ 5.0pp23.8%within the sector's middle half▲ 3.9pp17.4%within the sector's middle half▼ 6.4pp39.7%within the sector's middle half▲ 22.3pp
Current ratio0.86-0.99▲ 0.141.10within the sector's middle half▲ 0.111.58within the sector's middle half▲ 0.481.77within the sector's middle half▲ 0.192.29within the sector's middle half▲ 0.523.03within the sector's middle half▲ 0.741.49within the sector's middle half▼ 1.54
Return on assets (ROA)-28.2%-5.8%▲ 34.1pp-10.5%below the sector's middle half▼ 16.3pp10.1%within the sector's middle half▲ 20.6pp3.7%within the sector's middle half▼ 6.4pp-1.4%within the sector's middle half▼ 5.1pp-23.9%below the sector's middle half▼ 22.5pp50.4%above the sector's middle half▲ 74.4pp
Staff (FTE)1.5-0.1▼ 93.3%
above
within
below
The sector band is the middle half of the companies in Arts creation and performing arts activities (NACE 90). 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 a profit of €35,286, after a loss of €17,288 in 2024. It is the highest result since 2021.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €66,163
Fixed assets
€6,648 ▼ 20.5%
Current assets
€59,515 ▼ 9.4%
Equity and liabilities €66,163
Equity
€26,254 ▲ 104%
Debt
€39,909 ▼ 34.8%
Debt's share of the balance-sheet total falls from 82.6% to 60.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€36,998▲
2024 · -€16,929
Cash flow
€35,091▲
2024 · -€17,361
Quick ratio
1.46▼
2024 · 2.56
Debt to equity
1.52▼
2024 · 4.75
ROE
127.1%▲
2024 · -137.6%
Interest coverage
97.11▲
2024 · -57.98
Debt ≤ 1 year
€39,909▲
2024 · €21,714
Income taxes
€1,526▲
2024 · €140
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 | €1,156 | - | - | €8,561 | - |
| Depreciation and write-downs of the year | €18,493 | €11,308 | €4,910 | €359 | €1,712 |
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 | - | - | - | - | - | - | - | €31,032 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €34,636 | €18,665 | €18,265 | €18,493 | €11,308 | €4,910 | €359 | €1,712 | ▲ 377% |
| Other operating charges640/8 | - | - | - | €516 | €348 | €384 | €1,287 | €400 | ▼ 68.9% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €1,117 | - | - |
| Gross operating margin9900 | €30,478 | €35,329 | €6,919 | €38,563 | €18,515 | €4,076 | -€14,525 | €37,398 | - |
| Operating profit (loss)9901 | -€47,602 | €11,839 | -€11,841 | €19,554 | €6,859 | -€1,218 | -€17,288 | €35,286 | - |
| Financial charges65/66B | - | - | - | €1,559 | €755 | €490 | €292 | €381 | ▲ 30.5% |
| Recurring financial charges65 | €1,826 | €1,987 | €1,512 | €1,559 | €755 | €490 | €292 | €381 | ▲ 30.5% |
| Profit (loss) for the period before taxes9903 | -€49,428 | €9,852 | -€13,353 | €17,995 | €6,104 | -€1,708 | -€17,580 | €34,905 | - |
| Income taxes67/77 | - | €158 | €255 | €136 | €120 | €132 | €140 | €1,526 | ▲ 990% |
| Profit (loss) for the period9904 | -€49,428 | €9,694 | -€13,608 | €17,859 | €5,984 | -€1,840 | -€17,720 | €33,379 | - |
| Profit (loss) for the period to be appropriated9905 | -€49,428 | €9,694 | -€13,608 | €17,859 | €5,984 | -€1,840 | -€17,720 | €33,379 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €175,015 | €166,832 | €129,411 | €177,687 | €162,765 | €128,435 | €74,078 | €66,163 | ▼ 10.7% |
| Fixed assets21/28 | €69,983 | €51,978 | €33,713 | €16,376 | €5,068 | €158 | €8,360 | €6,648 | ▼ 20.5% |
| Tangible fixed assets22/27 | €69,983 | €51,978 | €33,713 | €16,376 | €5,068 | €158 | €8,360 | €6,648 | ▼ 20.5% |
| Furniture and vehicles24 | - | - | - | €16,308 | €5,048 | €158 | €8,360 | €6,648 | ▼ 20.5% |
| Other tangible fixed assets26 | - | - | - | €68 | €20 | - | - | - | - |
| Current assets29/58 | €105,032 | €114,854 | €95,698 | €161,311 | €157,697 | €128,277 | €65,718 | €59,515 | ▼ 9.4% |
| Stocks and contracts in progress3 | €47,932 | €38,941 | €29,890 | €21,012 | €14,848 | €17,055 | €10,125 | €1,361 | ▼ 86.6% |
| Stocks30/36 | - | - | - | €21,012 | €14,848 | €17,055 | €10,125 | €1,361 | ▼ 86.6% |
| Amounts receivable within one year40/41 | €52,715 | €69,074 | €24,330 | €49,498 | €60,334 | €83,394 | €27,794 | €11,349 | ▼ 59.2% |
| Trade receivables40 | - | - | - | €49,498 | €60,334 | €83,394 | €27,312 | €11,349 | ▼ 58.4% |
| Other amounts receivable41 | - | - | - | - | - | - | €482 | - | - |
| Cash at bank and in hand54/58 | €4,385 | €6,839 | €41,478 | €90,801 | €82,515 | €26,711 | €27,799 | €46,805 | ▲ 68.4% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €1,117 | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €175,015 | €166,832 | €129,411 | €177,687 | €162,765 | €128,435 | €74,078 | €66,163 | ▼ 10.7% |
| Equity10/15 | €12,506 | €22,200 | €8,592 | €26,451 | €32,435 | €30,595 | €12,875 | €26,254 | ▲ 104% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €21,860 | €21,860 | €21,860 | €21,860 | €21,860 | €21,860 | €21,860 | €13,854 | ▼ 36.6% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | €20,000 | €20,000 | €20,000 | €21,860 | €13,854 | ▼ 36.6% |
| Profit (loss) carried forward14 | -€21,754 | -€12,060 | -€25,668 | -€7,809 | -€1,825 | -€3,665 | -€21,385 | - | - |
| Amounts payable17/49 | €162,509 | €144,632 | €120,819 | €151,236 | €130,330 | €97,840 | €61,203 | €39,909 | ▼ 34.8% |
| Amounts payable after more than one year17 | €40,021 | €29,107 | €22,281 | €10,221 | - | - | - | - | - |
| Financial debts170/4 | - | - | - | €10,221 | - | - | - | - | - |
| Amounts payable within one year42/48 | €122,488 | €115,525 | €86,995 | €102,189 | €89,212 | €56,086 | €21,714 | €39,909 | ▲ 83.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €12,060 | €10,221 | - | - | - | - |
| Trade debts44 | €70,917 | €73,145 | €63,860 | €80,634 | €60,430 | €49,380 | €17,321 | €11,106 | ▼ 35.9% |
| Suppliers440/4 | - | - | - | €80,634 | €60,430 | €49,380 | €17,321 | €11,106 | ▼ 35.9% |
| Taxes, remuneration and social security45 | - | - | - | €7,658 | €16,441 | €6,706 | €1,024 | €6,378 | ▲ 523% |
| Taxes450/3 | - | - | - | €7,658 | €133 | €6,706 | €1,024 | €5,841 | ▲ 470% |
| Remuneration and social security454/9 | - | - | - | - | €16,308 | - | - | €537 | - |
| Other amounts payable47/48 | - | - | - | €1,837 | €2,120 | - | €3,369 | €22,425 | ▲ 566% |
| Accrued charges and deferred income492/3 | - | - | - | €38,826 | €41,118 | €41,754 | €39,489 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€49,428 | €9,694 | -€13,608 | €17,859 | €5,984 | -€1,840 | -€17,720 | €33,379 | - |
| + Depreciation and write-downs630 | €34,636 | €18,665 | €18,265 | €18,493 | €11,308 | €4,910 | €359 | €1,712 | ▲ 377% |
| Operating cash flow (approximation) | -€14,792 | €28,359 | €4,657 | €36,352 | €17,292 | €3,070 | -€17,361 | €35,091 | - |
| Investment in fixed assets (approximation) | - | -€660 | €0 | -€1,156 | €0 | €0 | -€8,561 | €0 | - |
| Change in cash | - | €2,454 | €34,639 | €49,323 | -€8,286 | -€55,804 | €1,088 | €19,006 | ▲ 17× |
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, 34,693 companies had the same profile as DECOLOC has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of DECOLOC 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 34,693 companies, not a prediction for DECOLOC. 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.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 08-06-2026 | 2026-00143237 | |
| 31-12-2024 | micro format | 17-06-2025 | 2025-00143799 | |
| 31-12-2023 | micro format | 13-06-2024 | 2024-00127266 | |
| 31-12-2022 | micro format | 13-06-2023 | 2023-00120971 | |
| 31-12-2021 | micro format | 07-06-2022 | 2022-20048637 | |
| 31-12-2020 | micro format | 22-06-2021 | 2021-22700317 | |
| 31-12-2019 | micro format | 15-06-2020 | 2020-16800114 | |
| 31-12-2018 | full format | 01-07-2019 | 2019-26000469 | |
| 31-12-2017 | full format | 02-07-2018 | 2018-26500015 | |
| 31-12-2016 | full format | 09-06-2017 | 2017-16200469 |