DéCORWOOD

Active

Private limited companyfounded 20206 yrs activeParnassusgaarde 12, 1050 Elsene, BelgiumKBO/BCE: BE 0751.595.689

The computed 12-month bankruptcy probability of DéCORWOOD is 5.0% (elevated). The 2024 annual accounts show equity of €140k and a net result of €87k. Equity is growing by ~22% per year across the filed fiscal years. Its solvency ranks better than 44% of 1290 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

46 / 100

Fair

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability81▲+18

Solvency52▲+7

Growth78▲+19

Track record100

Bankruptcy probability, 12 months

5.0% Elevated

0%0.5%1.5%4%10%≥ 25%

Credit up to €6k at 30 days only on tighter terms

Liquidity tight (current ratio 1.48 against 1.28 in 2023; short-term debt: 62.6% and cash: 1.6% of total assets), and 73% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 41

Relative position

BE, all sectors

reference

Sector 41

higher

← fewer bankruptcies more bankruptcies →

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

Filed more than 90 days late

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 15-12-2025, 137 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.

NBB · 5 filings

Deviation from the deadline

2025

not confirmed

2024

137 d late

2023

204 d late

2022

206 d late

2021

167 d late

2020

314 d late

← before the deadline after the deadline →

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

Financials · fiscal year 2024, full schema

Turnover

€1.06M▲ 14.9%

2023 · €921k

2022: €823k 2023: €921k

2022 → 2024

EBIT margin

8.5%▲ 5.5pp

2023 · 3.1%

2022: 2.9% 2023: 3.1%

2022 → 2024

Net result

€87k▲ 392%

2023 · €18k

2020: €49k 2021: €20k 2022: €21k 2023: €18k

2020 → 2024

Working capital

€154k▲ 41.4%

2023 · €109k

2020: €29k 2021: €49k 2022: €207k 2023: €109k

2020 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Turnover€823k€921k▲ 11.9%€1.06M▲ 14.9%

Equity€52k-€73k▲ 39.0%€94k▲ 28.4%€111k▲ 18.8%€140k▲ 26.1%

Operating result€68k-€23k▼ 66.9%€24k▲ 5.7%€28k▲ 18.6%€90k▲ 219%

Net result€49k-€20k▼ 58.7%€21k▲ 1.2%€18k▼ 14.9%€87k▲ 392%

Result per fiscal year

Operating resultNet result

After the dip in 2021 the operating result has climbed three years in a row; 2024 is 219% above 2023 and is the highest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €518k

92.3%

Fixed assets €40k▼ 29.0%

Current assets €479k▼ 3.8%

Equity and liabilities €518k

27.0%

10%

62.6%

Equity €140k▲ 26.1%

Provisions €54k=

Debt €324k▼ 16.5%

The debt ratio falls from 70.2% to 62.6%. Equity is higher and debt is lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€114k▲

2023 · €52k

Cash flow

€111k▲

2023 · €41k

Solvency

27.0%▲

2023 · 20.1%

Current ratio

1.48▲

2023 · 1.28

Quick ratio

1.48▲

2023 · 1.28

Debt / equity

2.31▼

2023 · 3.50

ROE

61.8%▲

2023 · 15.8%

ROA

16.7%▲

2023 · 3.2%

Interest coverage

29.67▲

2023 · 22.34

Debt

€324k▼

2023 · €388k

Debt ≤ 1 year

€324k▼

2023 · €388k

Staff costs

€98k▲

2023 · €92k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€553k€518k▼

Fixed assets21/28€56k€40k▼

Tangible fixed assets22/27€31k€15k▼

Plant, machinery and equipment23€9k€5k▼

Furniture and vehicles24€22k€10k▼

Financial fixed assets28€25k€25k=

Current assets29/58€497k€479k▼

Amounts receivable within one year40/41€464k€447k▼

Trade receivables40€357k€381k▲

Other amounts receivable41€107k€66k▼

Cash at bank and in hand54/58€24k€8k▼

Deferred charges and accrued income490/1€9k€23k▲

Equity and liabilities

Total equity and liabilities10/49€553k€518k▼

Equity10/15€111k€140k▲

Contributions10/11€3k€3k=

Capital10€3k€3k=

Issued capital100€3k€3k=

Reserves13€1k€1k=

Non-distributable reserves130/1€1k€1k=

Legal reserve130€1k€1k=

Profit (loss) carried forward14€107k€136k▲

Provisions and deferred taxes16€54k€54k=

Provisions for liabilities and charges160/5€54k€54k=

Pensions and similar obligations160€54k€54k=

Amounts payable17/49€388k€324k▼

Amounts payable within one year42/48€388k€324k▼

Current portion of amounts payable after more than one year42€6k€2k▼

Financial debts43-€10k

Credit institutions430/8-€10k

Trade debts44€314k€212k▼

Suppliers440/4€314k€212k▼

Taxes, remuneration and social security45€66k€93k▲

Taxes450/3€20k€38k▲

Remuneration and social security454/9€46k€55k▲

Other amounts payable47/48€2k€7k▲

Income statement Code20232024

Turnover70€921k€1.06M▲

Non-recurring operating income76A€28k-

Goods, raw materials, services and sundry goods60/61€801k€849k▲

Remuneration, social security and pensions62€92k€98k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€23k€24k▲

Other operating charges640/8€4k€7k▲

Gross operating margin9900€147k€219k▲

Operating profit (loss)9901€28k€90k▲

Financial income75/76B€73€0▼

Recurring financial income75€73€0▼

Financial charges65/66B€2k€4k▲

Recurring financial charges65€2k€4k▲

Profit (loss) for the period before taxes9903€26k€87k▲

Transfer to deferred taxes680-€2

Income taxes67/77€8k-

Profit (loss) for the period9904€18k€87k▲

Profit (loss) for the period to be appropriated9905€18k€87k▲

Appropriation of the result

Profit (loss) to be appropriated9906€107k€194k▲

Profit (loss) brought forward from the previous period14P€89k€107k▲

Profit to be distributed694/7-€58k

Return on contributions (dividend)694-€58k

Social balance

Average headcount (FTE)90872.03.0▲

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

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Timeline · acts, filings and financial milestones

All 8Financial 3Filings 5

2025

15-12

NBB filing Annual accounts filed

fiscal year 2024 · full schema · 137 days late

20-02

NBB filing Annual accounts filed

fiscal year 2023 · full schema · 204 days late

2024

31-12

Financial Highest result since 2020net €87k ▲392%

Operating result €90k, net result €87k, both a record.

22-02

NBB filing Annual accounts filed

fiscal year 2022 · full schema · 206 days late

2023

31-12

Financial Weakest financial yearnet €18k ▼14.9%

Net result drops to €18k, the lowest in the series; recovery starts the following year.

31-12

Financial Equity above €100kEq €111k ▲18.8%

4 profitable years in a row build equity to €111k.

14-01

NBB filing Annual accounts filed

fiscal year 2021 · full schema · 167 days late

2022

10-06

NBB filing Annual accounts filed

fiscal year 2020 · full schema · 314 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

6 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, Elsene · 2 establishment units since 2020

establishment All 2 establishment units on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Parnassusgaarde 121050 Elsene

Ground area

9,620 m²

Building footprint

712 m²

Volume, LiDAR

13,833 m³

2 parcels, Brussels, Flanders · tallest building 31.0 m, ±9 floors. Linked by address, not a title deed.

2 establishment units

DéCORWOOD

Rietstraat 10, 9473 DenderleeuwGeneral construction of buildings

since 20202.316.482.635

DéCORWOOD CONSTRUCT

Parnassusgaarde 12, 1050 ElseneOther building finishing work

since 20262.390.355.756

2 parcels

Flanders 1 (50%) Brussels 1 (50%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21442A0012/00Y000 ProtectedMonumentHerenhuis Baron BuffinSource ↗	Brussels	9,313 m²	1 · 551 m²	30.9 m · 9 fl.
41076B1342/00R002	Flanders	307 m²	1 · 161 m²	9.1 m · 1 fl.