DECOM
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 14-07-2026 at the NBB all 23 filings
Turnover
€92,862▲ 21.2%
2024 · €76,597
EBIT margin
31.1%▲ 33.3pp
2024 · -2.1%
Net result
€26,248
2024 · -€1,097
Working capital
€167,364▲ 11.6%
2024 · €149,968
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€92,862
▲ 21.2%
2025
20182025
Operating result
€28,917
2025
20182025
Net result
€26,248
2025
middle half of the sector
20182025
EBIT margin
31.1%
▲ 33.3pp
2025
20182025
Equity
€188,913
▲ 16.1%
2025
lowest quarter of the sector
20182025
Total assets
€194,629
▲ 14.6%
2025
lowest quarter of the sector
20182025
Debt
€5,716
▼ 20.5%
2025
20182025
Working capital
€167,364
▲ 11.6%
2025
middle half of the sector
20182025
Solvency
97.1%
▲ 1.3pp
2025
highest quarter of the sector
20182025
Current ratio
30.28
▲ 8.42
2025
highest quarter of the sector
20182025
Return on assets (ROA)
13.5%
▲ 14.1pp
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€135,837-€135,030▼ 0.6%€135,363▲ 0.2%€196,075▲ 44.9%€115,667▼ 41.0%€115,611=€76,597▼ 33.7%€92,862▲ 21.2%
Operating result€23,252-€38,073▲ 63.7%€32,946▼ 13.5%€83,098▲ 152%€2,548▼ 96.9%-€148-€1,626▼ 999%€28,917
Net result€15,601-€28,124▲ 80.3%€22,329within the sector's middle half▼ 20.6%€59,973within the sector's middle half▲ 169%€2,259below the sector's middle half▼ 96.2%-€1,261below the sector's middle half-€1,097below the sector's middle half▲ 13.0%€26,248within the sector's middle half
EBIT margin17.1%-28.2%▲ 11.1pp24.3%▼ 3.9pp42.4%▲ 18.0pp2.2%▼ 40.2pp-0.1%▼ 2.3pp-2.1%▼ 2.0pp31.1%▲ 33.3pp
Equity€45,774-€83,273▲ 81.9%€102,789within the sector's middle half▲ 23.4%€162,762within the sector's middle half▲ 58.3%€165,022within the sector's middle half▲ 1.4%€163,761within the sector's middle half▼ 0.8%€162,665within the sector's middle half▼ 0.7%€188,913below the sector's middle half▲ 16.1%
Total assets€67,833-€101,246▲ 49.3%€118,247below the sector's middle half▲ 16.8%€180,993below the sector's middle half▲ 53.1%€182,540below the sector's middle half▲ 0.9%€174,610below the sector's middle half▼ 4.3%€169,855below the sector's middle half▼ 2.7%€194,629below the sector's middle half▲ 14.6%
Debt€22,059-€17,973▼ 18.5%€15,458▼ 14.0%€18,231▲ 17.9%€17,518▼ 3.9%€10,849▼ 38.1%€7,190▼ 33.7%€5,716▼ 20.5%
Working capital€13,768-€57,180▲ 315%€85,979within the sector's middle half▲ 50.4%€162,270within the sector's middle half▲ 88.7%€139,888within the sector's middle half▼ 13.8%€145,280within the sector's middle half▲ 3.9%€149,968within the sector's middle half▲ 3.2%€167,364within the sector's middle half▲ 11.6%
Solvency67.5%-82.2%▲ 14.8pp86.9%above the sector's middle half▲ 4.7pp89.9%above the sector's middle half▲ 3.0pp90.4%above the sector's middle half▲ 0.5pp93.8%above the sector's middle half▲ 3.4pp95.8%above the sector's middle half▲ 2.0pp97.1%above the sector's middle half▲ 1.3pp
Current ratio2.01-5.54▲ 3.537.55above the sector's middle half▲ 2.019.90above the sector's middle half▲ 2.359.22above the sector's middle half▼ 0.6815.13above the sector's middle half▲ 5.9121.86above the sector's middle half▲ 6.7330.28above the sector's middle half▲ 8.42
Return on assets (ROA)23.0%-27.8%▲ 4.8pp18.9%above the sector's middle half▼ 8.9pp33.1%above the sector's middle half▲ 14.3pp1.2%within the sector's middle half▼ 31.9pp-0.7%below the sector's middle half▼ 2.0pp-0.6%below the sector's middle half▲ 0.1pp13.5%above the sector's middle half▲ 14.1pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 €28,917, after a loss of €1,626 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €194,629
Fixed assets
€21,549 ▲ 69.7%
Current assets
€173,080 ▲ 10.1%
Equity and liabilities €194,629
Equity
€188,913 ▲ 16.1%
Debt
€5,716 ▼ 20.5%
Debt's share of the balance-sheet total falls from 4.2% to 2.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€34,304▲
2024 · €4,722
Cash flow
€31,635▲
2024 · €5,251
Debt to equity
0.03▼
2024 · 0.04
ROE
13.9%▲
2024 · -0.7%
Interest coverage
over 100▲
2024 · 45.40
Debt ≤ 1 year
€5,716▼
2024 · €7,190
Income taxes
€5,956▲
2024 · €2,259
Customer credit
6 days▼
2024 · 17 days
Supplier credit
18 days▼
2024 · 18 days
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Overdue debts
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Overdue tax debts | €8,037 | - | - | - | - |
| Overdue social security (RSZ) debts | €3,177 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €31,742 | - | - | €26,936 |
| Depreciation and write-downs of the year | €5,766 | €6,606 | €6,583 | €6,348 | €5,387 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €135,837 | €135,030 | €135,363 | €196,075 | €115,667 | €115,611 | €76,597 | €92,862 | ▲ 21.2% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €105,664 | €10,332 | €107,708 | €70,674 | €52,829 | ▼ 25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,897 | €12,333 | €12,333 | €5,766 | €6,606 | €6,583 | €6,348 | €5,387 | ▼ 15.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €500 | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €1,047 | €1,178 | €1,468 | €1,201 | €1,221 | ▲ 1.7% |
| Gross operating margin9900 | €36,634 | €52,017 | €46,300 | €90,411 | €10,332 | €7,903 | €5,923 | €35,525 | ▲ 500% |
| Operating profit (loss)9901 | €23,252 | €38,073 | €32,946 | €83,098 | €2,548 | -€148 | -€1,626 | €28,917 | - |
| Financial income75/76B | - | - | - | - | €1,503 | €76 | €3,275 | €3,429 | ▲ 4.7% |
| Recurring financial income75 | €20 | €10 | €6 | - | €3 | €76 | €3,275 | €3,429 | ▲ 4.7% |
| Non-recurring financial income76B | - | - | - | - | €1,500 | - | - | - | - |
| Financial charges65/66B | - | - | - | €183 | €139 | €122 | €487 | €142 | ▼ 70.8% |
| Recurring financial charges65 | €323 | €271 | €209 | €183 | €139 | €122 | €104 | €142 | ▲ 36.5% |
| Non-recurring financial charges66B | - | - | - | - | - | - | €383 | - | - |
| Profit (loss) for the period before taxes9903 | €22,949 | €37,812 | €32,743 | €82,915 | €3,912 | -€194 | €1,162 | €32,204 | ▲ 28× |
| Income taxes67/77 | €7,348 | €9,688 | €10,414 | €22,942 | €1,653 | €1,067 | €2,259 | €5,956 | ▲ 164% |
| Profit (loss) for the period9904 | €15,601 | €28,124 | €22,329 | €59,973 | €2,259 | -€1,261 | -€1,097 | €26,248 | - |
| Profit (loss) for the period to be appropriated9905 | €15,601 | €28,124 | €22,329 | €59,973 | €2,259 | -€1,261 | -€1,097 | €26,248 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €67,833 | €101,246 | €118,247 | €180,993 | €182,540 | €174,610 | €169,855 | €194,629 | ▲ 14.6% |
| Fixed assets21/28 | €40,394 | €31,470 | €19,137 | €492 | €25,628 | €19,045 | €12,697 | €21,549 | ▲ 69.7% |
| Intangible fixed assets21 | €25,758 | €19,319 | €12,879 | €0 | €0 | - | - | - | - |
| Tangible fixed assets22/27 | €14,636 | €12,151 | €6,258 | €492 | €25,628 | €19,045 | €12,697 | €21,549 | ▲ 69.7% |
| Plant, machinery and equipment23 | - | - | - | €22 | - | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €470 | €25,628 | €19,045 | €12,697 | €21,549 | ▲ 69.7% |
| Current assets29/58 | €27,439 | €69,776 | €99,110 | €180,501 | €156,912 | €155,565 | €157,158 | €173,080 | ▲ 10.1% |
| Amounts receivable within one year40/41 | €8,552 | €1,107 | €3,750 | €7,760 | €13,079 | €6,140 | €3,666 | €1,499 | ▼ 59.1% |
| Trade receivables40 | - | - | - | €7,760 | €13,079 | €6,140 | €3,666 | €1,499 | ▼ 59.1% |
| Current investments50/53 | €5,009 | €60,001 | - | - | - | €125,053 | €150,098 | €165,054 | ▲ 10.0% |
| Cash at bank and in hand54/58 | €13,037 | €7,588 | €94,150 | €171,435 | €142,185 | €22,593 | €1,773 | €4,696 | ▲ 165% |
| Deferred charges and accrued income490/1 | - | - | - | €1,306 | €1,648 | €1,779 | €1,621 | €1,831 | ▲ 13.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €67,833 | €101,246 | €118,247 | €180,993 | €182,540 | €174,610 | €169,855 | €194,629 | ▲ 14.6% |
| Equity10/15 | €45,774 | €83,273 | €102,789 | €162,762 | €165,022 | €163,761 | €162,665 | €188,913 | ▲ 16.1% |
| Contributions10/11 | €9,375 | €18,750 | €18,750 | €18,750 | €18,750 | €18,750 | €18,750 | €18,750 | = |
| Capital10 | - | - | - | €18,750 | €18,750 | €18,750 | €18,750 | €18,750 | = |
| Issued capital100 | - | - | - | €18,750 | €18,750 | €18,750 | €18,750 | €18,750 | = |
| Reserves13 | €17,478 | €17,478 | €65,118 | €115,118 | €115,118 | €115,118 | €115,118 | €115,118 | = |
| Non-distributable reserves130/1 | - | - | - | €1,875 | €1,875 | €1,875 | €1,875 | €1,875 | = |
| Legal reserve130 | - | - | - | €1,875 | €1,875 | €1,875 | €1,875 | €1,875 | = |
| Distributable reserves133 | - | - | - | €113,243 | €113,243 | €113,243 | €113,243 | €113,243 | = |
| Profit (loss) carried forward14 | €18,921 | €47,045 | €18,921 | €28,894 | €31,154 | €29,893 | €28,797 | €55,045 | ▲ 91.1% |
| Amounts payable17/49 | €22,059 | €17,973 | €15,458 | €18,231 | €17,518 | €10,849 | €7,190 | €5,716 | ▼ 20.5% |
| Amounts payable after more than one year17 | €8,388 | €5,377 | €2,322 | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €13,671 | €12,596 | €13,131 | €18,231 | €17,024 | €10,285 | €7,190 | €5,716 | ▼ 20.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €2,322 | - | - | - | - | - |
| Trade debts44 | €3,411 | €492 | €6,930 | €4,695 | €3,125 | €6,035 | €3,518 | €2,624 | ▼ 25.4% |
| Suppliers440/4 | - | - | - | €4,695 | €3,125 | €6,035 | €3,518 | €2,624 | ▼ 25.4% |
| Taxes, remuneration and social security45 | - | - | - | €11,214 | €13,899 | €4,250 | €3,672 | €3,092 | ▼ 15.8% |
| Taxes450/3 | - | - | - | €8,037 | €9,690 | €851 | €3,672 | €2,070 | ▼ 43.6% |
| Remuneration and social security454/9 | - | - | - | €3,177 | €4,209 | €3,399 | - | €1,022 | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €494 | €564 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,601 | €28,124 | €22,329 | €59,973 | €2,259 | -€1,261 | -€1,097 | €26,248 | - |
| + Depreciation and write-downs630 | €11,897 | €12,333 | €12,333 | €5,766 | €6,606 | €6,583 | €6,348 | €5,387 | ▼ 15.1% |
| Operating cash flow (approximation) | €27,498 | €40,457 | €34,662 | €65,739 | €8,865 | €5,322 | €5,251 | €31,635 | ▲ 502% |
| Investment in fixed assets (approximation) | - | -€3,409 | €0 | €12,879 | -€31,742 | €0 | €0 | -€14,239 | - |
| Change in cash | - | -€5,449 | €86,562 | €77,285 | -€29,250 | -€119,592 | -€20,820 | €2,923 | - |
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, 31,368 companies had the same profile as DECOM has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DECOM 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 31,368 companies, not a prediction for DECOM. 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 23 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 14-07-2026 | 2026-00296797 | |
| 31-12-2024 | full format | 02-07-2025 | 2025-00220039 | |
| 31-12-2023 | full format | 04-07-2024 | 2024-00214113 | |
| 31-12-2022 | abbreviated format | 07-07-2023 | 2023-00213129 | |
| 31-12-2021 | full format | 02-07-2022 | 2022-20121465 | |
| 31-12-2020 | full format | 26-06-2021 | 2021-24900443 | |
| 31-12-2019 | full format | 26-06-2020 | 2020-20700513 | |
| 31-12-2018 | full format | 26-07-2019 | 2019-37900398 | |
| 31-12-2017 | full format | 23-06-2018 | 2018-21600356 | |
| 31-12-2016 | full format | 09-07-2017 | 2017-28600517 |