DECOVAN
ActiveSummary
DECOVAN has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.30M and a net result of €127k. Equity remains stable across the filed fiscal years (±1.4% per year). Its solvency ranks better than 55% of 1851 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
71
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability74▲+2
Solvency69▼-6
Growth32=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €90k at 30 days acceptable
Liquidity tight (current ratio 1.23 against 1.02 in 2024; short-term debt: 31% and cash: 20.8% of total assets), and 55.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 49
Relative position
BE, all sectors
reference
Sector 49
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
44.3%
Return on assets
4.3%
Age of the figures
18 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €1.30M
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 01-10-2025, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
10 d early
2023
19 d early
2022
4 d early
2021
34 d early
2020
31 d early
2019
31 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close24-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€1.30M▲ 10.8%
2024 · €1.17M
2019: €1.31M
2020: €1.39M
2021: €1.44M
2022: €887k
2023: €1.11M
2024: €1.17M
2019 → 2025
Total assets
€2.92M▲ 24.8%
2024 · €2.34M
2019: €2.73M
2020: €2.76M
2021: €2.58M
2022: €2.29M
2023: €2.20M
2024: €2.34M
2019 → 2025
Net result
€127k▲ 99.5%
2024 · €63k
2019: €230k
2020: €80k
2021: €54k
2022: €-556k
2023: €219k
2024: €63k
2019 → 2025
Working capital
€204k▲ 942%
2024 · €20k
2019: €279k
2020: €237k
2021: €307k
2022: €-194k
2023: €93k
2024: €20k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.44M-€887k▼ 38.5%€1.11M▲ 24.8%€1.17M▲ 5.7%€1.30M▲ 10.8%
Operating result€33k-€-527k€234k€90k▼ 61.6%€161k▲ 79.0%
Net result€54k-€-556k€219k€63k▼ 71.1%€127k▲ 99.5%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 79% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.92M
Fixed assets
€1.81M ▲ 18.8%
Current assets
€1.11M ▲ 35.9%
Equity and liabilities €2.92M
Equity
€1.30M ▲ 10.8%
Debt
€1.63M ▲ 38.7%
Debt's share of the balance-sheet total rises from 50.1% to 55.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€627k▲
2024 · €486k
Cash flow
€593k▲
2024 · €459k
Current ratio
1.23▲
2024 · 1.02
Quick ratio
1.20▲
2024 · 0.99
Debt to equity
1.25▲
2024 · 1.00
ROE
9.8%▲
2024 · 5.4%
ROA
4.3%▲
2024 · 2.7%
Interest coverage
18.15▼
2024 · 18.27
Debt ≤ 1 year
€906k▲
2024 · €797k
Debt > 1 year
€714k▲
2024 · €366k
Income taxes
€2▲
2024 · €0
Staff costs
€1.32M▲
2024 · €1.22M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 55 lines
Balance sheet
Code20242025
Assets
Total assets20/58€2.34M€2.92M▲
Fixed assets21/28€1.53M€1.81M▲
Tangible fixed assets22/27€1.53M€1.81M▲
Land and buildings22€485k€437k▼
Plant, machinery and equipment23€69k€49k▼
Furniture and vehicles24€971k€1.33M▲
Financial fixed assets28€495€495=
Current assets29/58€817k€1.11M▲
Stocks and contracts in progress3€27k€27k=
Stocks30/36€27k€27k=
Amounts receivable within one year40/41€369k€430k▲
Trade receivables40€302k€361k▲
Other amounts receivable41€67k€69k▲
Cash at bank and in hand54/58€373k€607k▲
Deferred charges and accrued income490/1€48k€46k▼
Equity and liabilities
Total equity and liabilities10/49€2.34M€2.92M▲
Equity10/15€1.17M€1.30M▲
Contributions10/11€31k€31k=
Reserves13€966k€1.01M▲
Tax-exempt reserves132€885k€929k▲
Distributable reserves133€81k€81k=
Profit (loss) carried forward14€173k€256k▲
Amounts payable17/49€1.17M€1.63M▲
Amounts payable after more than one year17€366k€714k▲
Financial debts170/4€366k€714k▲
Amounts payable within one year42/48€797k€906k▲
Current portion of amounts payable after more than one year42€267k€346k▲
Trade debts44€238k€320k▲
Suppliers440/4€238k€320k▲
Taxes, remuneration and social security45€113k€156k▲
Taxes450/3€7k€32k▲
Remuneration and social security454/9€106k€124k▲
Other amounts payable47/48€179k€84k▼
Accrued charges and deferred income492/3€9k€7k▼
Income statement
Code20242025
Non-recurring operating income76A€55k€54k▼
Remuneration, social security and pensions62€1.22M€1.32M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€396k€466k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€13k
Other operating charges640/8€59k€85k▲
Non-recurring operating charges66A€20k€0▼
Gross operating margin9900€1.78M€2.04M▲
Operating profit (loss)9901€90k€161k▲
Financial income75/76B€2€7▲
Recurring financial income75€2€7▲
Financial charges65/66B€27k€35k▲
Recurring financial charges65€27k€35k▲
Profit (loss) for the period before taxes9903€63k€127k▲
Income taxes67/77€0€2▲
Profit (loss) for the period9904€63k€127k▲
Transfer from tax-exempt reserves789€8k€9k▲
Transfer to tax-exempt reserves689€0€53k▲
Profit (loss) for the period to be appropriated9905€71k€83k▲
Appropriation of the result
Profit (loss) to be appropriated9906€173k€256k▲
Profit (loss) brought forward from the previous period14P€102k€173k▲
Social balance
Average headcount (FTE)908715.316.4▲
The notes to these accounts (23 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
01-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2024
21-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
12-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
31-03
Financial
Back to profitnet €219k
Net result €219k after one loss-making year.
31-03
Financial
Equity above €1MEq €1.11M ▲24.8%
Equity rises from €887k to €1.11M.
2022
27-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
31-03
Financial
Weakest financial yearnet €-556k ▼1138%
Net result drops to €-556k, the lowest in the series; recovery starts the following year.
2021
27-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
01-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
02-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
26-09
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.
Directors · office · real estate
Directors
2 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, Kortemark · 1 establishment unit since 2002
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.
Edewallestraat 708610 KortemarkGround area
4,107 m²
Building footprint
172 m²
Volume, LiDAR
921 m³
Parcel 32011A0317/00L000, Flanders · tallest building 10.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Edewallestraat 70, 8610 Kortemark
since 20022.049.453.117
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 32011A0317/00L000 | Flanders | 4,107 m² | 1 · 172 m² | 10.1 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 3 entries · 9,561 EUR awarded · 9,561 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 432 EUR | 432 EUR |
| 2023 | 1 | 9,000 EUR | 9,000 EUR |
| 2022 | 1 | 129 EUR | 129 EUR |
Schemes
Subsidies ecologisch en veilig transport (stopgezet)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 siteKortemark2.049.453.117
Similar companies · same sector, comparable size
DECONINCK LOGISTICS
BE 0827.040.113
Oudenaarde · Eq €1,294,653
TRANSPORT ROGER HEINEN
BE 0887.794.676
Eupen · Eq €1,298,991
LINDETRANS
BE 0860.461.561
Aalst · Eq €1,299,577
DYNAMA
BE 0443.983.945
Maasmechelen · Eq €1,292,922
VLETRACLEAN
BE 0475.656.821
Zelzate · Eq €1,300,221
Of 12,604 companies in sector 49410 we hold annual accounts for 8,202. 3,723 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded14-06-1990
Fiscal year end31-03
Activities, NACEBEL 2025
49410Freight transport by road
95316Washing and cleaning of motor vehicles
46212Wholesale trade
46214Wholesale trade
46231Wholesale of live animals
46442Wholesale trade
47783Retail trade
Sources
Crossroads Bank for EnterprisesNational Bank · 35 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.