DECOVAN
ActiveSummary
DECOVAN has been active since 1991 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.0m and a net result of €82,868. Equity has been growing by about 15% per year since 2018. Its solvency ranks better than 76% of 2,445 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 21-06-1991 Normal situation
- Activity
- Joinery installation NACE 43320and 2 others
- Joint committee
- 124 Paritair Comité voor het bouwbedrijf · annual accounts 2023
- Establishment unit
- 2.053.840.485 9700 Oudenaarde, since 19-07-1991
- Financial year end
- 31 December
- Peppol
- Reachable since 08-01-2026
Board and ownership
- Vandriessche BrechtDirector · since 05-09-2011
- Vandriessche HenkDirector · since 05-09-2011
- Vandriessche MarcDirector · since 05-09-2011
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.3%
- Gross margin
- €360,177
- ▼ 6.6%
- Turnover
- ≈ €1.1m
- estimated
- Profit
- €82,868
- ▲ 3.4%
- Equity
- €1.0m
- ▲ 8.9%
- Total assets
- €1.6m
- ▲ 4.0%
- Employees on 31-12-2025
- 3
- =
- 2025 accounts filed 75 days after the deadline
Score breakdownraises riskLast filed accounts filed 75 days late; 3 of the last 3 accounts lateSector: Specialised construction activities (NACE 43)lowers riskFounded in 1991Size: 3 FTE, total assets €1.6mShow the evidence
Checked score
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 71% of them on solvency, 34% on liquidity, 50% on profitability and 53% on growth.
The bankruptcy probability was computed on 01-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 59 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, full format
2025 annual accounts filed 75 days after the deadline Filed on 14 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00557296.
Annual accounts 2025 filed on 14-10-2026 at the NBB all 34 filings
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 9% lower than in 2024 and the lowest since 2021. It is the fourth fall in a row.
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.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 5 | 5 | 5 | 3 | 3 |
| full-time | 5 | 4 | 4 | 3 | 3 |
| part-time | 0 | 1 | 1 | 0 | 0 |
| in full-time equivalents | 5 | 0 | 4.8 | 3 | 3 |
| Average over the year, in full-time equivalents | 5 | 4.9 | 4.8 | 3.6 | 3 |
| On a permanent contract | 5 | 4 | 4 | 3 | 3 |
| Joined | - | 1 | 1 | 0 | - |
| Left | - | 1 | 1 | 1 | - |
| Training hours | - | - | - | 769 | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €87,634 | €18,000 | €2,982 | €1,394 | €59,441 |
| Intangible fixed assets | - | - | €3,728 | €1,536 | €4,142 |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €35,040 | €34,851 | €37,684 | €31,654 | €39,998 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 · 1 entry · €2,362 awarded · €2,362 paidComparable companies
These companies have the same main activity as DECOVAN: joinery installation (NACE 43320). They are comparable in size and age: total assets between €1m and €1.5m, founded between 1986 and 1998.
| Company | Founded | Total assets | Equity | Gross margin | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| DECOVAN Oudenaarde | 1991 | €1.6m | €1.0m | €0.4m | €0.08m | 3 | 2025 |
| Awouters Oudsbergen | 1992 | €1.5m | €1.2m | €0.4m | €0.2m | 2.8 | 2025 |
| TALPE F. CONSTRUCT Dentergem | 1989 | €1.4m | €0.4m | €0.4m | €0.08m | 2.8 | 2025 |
| SCHRIJNWERKERIJ SMEETS Diepenbeek | 1991 | €1.3m | €1.1m | €0.4m | €0.05m | 2.6 | 2025 |
| OSTYN & GREGOIRE Mouscron | 1991 | €1.2m | €0.4m | €0.3m | €0.1m | 3 | 2025 |
| WILFRA CONCEPT & CREATION Sint-Martens-Latem | 1986 | €1.0m | €0.5m | €0.5m | €0.2m | 2.8 | 2025 |
| DECORIT Nazareth-De Pinte | 1998 | €1.5m | €0.6m | €0.2m | €0.05m | 2.7 | 2024 |
They were chosen from the 9,053 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 31,368 companies had the same profile as DECOVAN has now. Two years later, 0.5% had gone bankrupt and 93.5% were still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DECOVAN itself: 0.3% 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 DECOVAN. 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €1,326 | €0 | - | €2,000 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | - | - | €259,898 | €267,991 | €248,482 | €230,519 | €208,380 | ▼ 9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €39,729 | €36,495 | €27,470 | €35,040 | €34,851 | €37,684 | €31,654 | €39,998 | ▲ 26.4% |
| Other operating charges640/8 | - | - | - | €8,089 | €5,167 | €4,289 | €5,598 | €4,144 | ▼ 26.0% |
| Gross operating margin9900 | €331,516 | €369,389 | €484,581 | €553,022 | €449,772 | €415,965 | €385,781 | €360,177 | ▼ 6.6% |
| Operating profit (loss)9901 | €28,870 | €68,914 | €198,779 | €249,996 | €141,763 | €125,511 | €118,010 | €107,656 | ▼ 8.8% |
| Financial income75/76B | - | - | - | €11,062 | €12,179 | €8,690 | €7,996 | €7,235 | ▼ 9.5% |
| Recurring financial income75 | €5,396 | €18,031 | €17,091 | €11,062 | €12,179 | €8,690 | €7,996 | €7,235 | ▼ 9.5% |
| Financial charges65/66B | - | - | - | €6,538 | €4,604 | €21,072 | €9,284 | €7,425 | ▼ 20.0% |
| Recurring financial charges65 | €4,054 | €3,320 | €4,663 | €6,538 | €4,604 | €21,072 | €9,284 | €7,425 | ▼ 20.0% |
| Profit (loss) for the period before taxes9903 | €30,212 | €83,624 | €211,207 | €254,520 | €149,337 | €113,129 | €116,723 | €107,466 | ▼ 7.9% |
| Income taxes67/77 | €14,960 | €27,794 | €62,835 | €76,510 | €50,367 | €26,574 | €36,553 | €24,598 | ▼ 32.7% |
| Profit (loss) for the period9904 | €15,253 | €55,831 | €148,373 | €178,010 | €98,970 | €86,556 | €80,170 | €82,868 | ▲ 3.4% |
| Profit (loss) for the period to be appropriated9905 | €15,253 | €55,831 | €148,373 | €178,010 | €98,970 | €86,556 | €80,170 | €82,868 | ▲ 3.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.0m | €1.1m | €1.2m | €1.4m | €1.6m | €1.6m | €1.5m | €1.6m | ▲ 4.0% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €0.06m | €0.07m | €0.07m | €0.1m | €0.1m | €0.08m | €0.05m | €0.07m | ▲ 48.6% |
| Intangible fixed assets21 | €0 | - | - | - | - | €0.003m | €0.004m | €0.006m | ▲ 55.4% |
| Tangible fixed assets22/27 | €0.06m | €0.07m | €0.07m | €0.1m | €0.1m | €0.07m | €0.04m | €0.07m | ▲ 48.2% |
| Land and buildings22 | - | - | - | €0.007m | €0.007m | €0.006m | €0.005m | €0.004m | ▼ 22.0% |
| Plant, machinery and equipment23 | - | - | - | €0.04m | €0.04m | €0.03m | €0.02m | €0.01m | ▼ 36.1% |
| Furniture and vehicles24 | - | - | - | €0.08m | €0.06m | €0.04m | €0.02m | €0.05m | ▲ 129% |
| Financial fixed assets28 | €74 | €74 | €74 | €74 | €74 | €74 | €74 | €74 | = |
| Current assets29/58 | €1.0m | €1.0m | €1.2m | €1.3m | €1.5m | €1.5m | €1.5m | €1.5m | ▲ 2.5% |
| Stocks and contracts in progress3 | €0.7m | €0.7m | €0.8m | €0.9m | €1.1m | €1.1m | €1.0m | €1.2m | ▲ 16.2% |
| Stocks30/36 | - | - | - | €0.9m | €1.0m | €1.1m | €1.0m | €1.1m | ▲ 16.9% |
| Contracts in progress37 | - | - | - | - | €0.06m | €0.002m | €0.04m | €0.04m | = |
| Amounts receivable within one year40/41 | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 14.0% |
| Trade receivables40 | - | - | - | €0.1m | €0.3m | €0.2m | €0.2m | €0.2m | ▼ 27.9% |
| Other amounts receivable41 | - | - | - | €0.04m | €0.05m | €0.1m | €0.07m | €0.09m | ▲ 38.7% |
| Current investments50/53 | €0 | - | - | - | - | €0.001m | €0.001m | €0.001m | ▲ 0.5% |
| Cash at bank and in hand54/58 | €0.02m | €0.1m | €0.2m | €0.2m | €0.04m | €0.1m | €0.1m | €0.05m | ▼ 56.8% |
| Deferred charges and accrued income490/1 | - | - | - | €0.01m | €0.02m | €0.03m | €0.02m | €0.009m | ▼ 58.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.0m | €1.1m | €1.2m | €1.4m | €1.6m | €1.6m | €1.5m | €1.6m | ▲ 4.0% |
| Equity10/15 | €0.3m | €0.3m | €0.5m | €0.7m | €0.8m | €0.9m | €0.9m | €1.0m | ▲ 8.9% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.2m | €0.3m | €0.4m | €0.6m | €0.7m | €0.8m | €0.9m | €1.0m | ▲ 9.5% |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Tax-exempt reserves132 | - | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Distributable reserves133 | - | - | - | €0.5m | €0.6m | €0.7m | €0.8m | €0.9m | ▲ 10.2% |
| Profit (loss) carried forward14 | €0 | - | - | - | - | - | - | €0 | - |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €0.7m | €0.8m | €0.8m | €0.7m | €0.8m | €0.8m | €0.6m | €0.5m | ▼ 4.0% |
| Amounts payable after more than one year17 | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | €0.1m | €0.1m | ▼ 4.7% |
| Financial debts170/4 | - | - | - | €0.06m | €0.03m | €0.007m | €0 | €0.02m | - |
| Other amounts payable178/9 | - | - | - | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | ▼ 21.5% |
| Amounts payable within one year42/48 | €0.4m | €0.5m | €0.5m | €0.5m | €0.6m | €0.6m | €0.4m | €0.4m | ▼ 3.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.04m | €0.04m | €0.04m | €0.007m | €0.01m | ▲ 58.9% |
| Financial debts43 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Credit institutions430/8 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Trade debts44 | €0.2m | €0.2m | €0.1m | €0.06m | €0.2m | €0.3m | €0.2m | €0.2m | ▼ 4.7% |
| Suppliers440/4 | - | - | - | €0.06m | €0.2m | €0.3m | €0.2m | €0.2m | ▼ 4.7% |
| Advances received on contracts in progress46 | - | - | - | €0.1m | €0.1m | €0.1m | €0.06m | €0.07m | ▲ 21.5% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.1m | €0.07m | €0.08m | €0.05m | ▼ 32.6% |
| Taxes450/3 | - | - | - | €0.1m | €0.1m | €0.05m | €0.07m | €0.05m | ▼ 36.1% |
| Remuneration and social security454/9 | - | - | - | €0.007m | €0.008m | €0.02m | €0.008m | €0.008m | ▲ 0.3% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €0.009m | €0.008m | €0.008m | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,253 | €55,831 | €148,373 | €178,010 | €98,970 | €86,556 | €80,170 | €82,868 | ▲ 3.4% |
| + Depreciation and write-downs630 | €39,729 | €36,495 | €27,470 | €35,040 | €34,851 | €37,684 | €31,654 | €39,998 | ▲ 26.4% |
| Operating cash flow (approximation) | €54,981 | €92,325 | €175,843 | €213,049 | €133,821 | €124,239 | €111,824 | €122,866 | ▲ 9.9% |
| Investment in fixed assets (approximation) | - | -€38,212 | -€33,973 | -€87,634 | -€18,000 | -€6,710 | -€2,930 | -€63,582 | ▼ 2,070% |
| Change in cash | - | €128,866 | €31,644 | €58,527 | -€196,657 | €58,112 | €24,457 | -€70,004 | - |
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 34 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 14-10-2026 | 2026-00557296 | NBB |
| 31-12-2024 | abbreviated format | 26-09-2025 | 2025-00506613 | |
| 31-12-2023 | abbreviated format | 29-09-2024 | 2024-00478031 | |
| 31-12-2022 | abbreviated format | 29-09-2023 | 2023-00458648 | |
| 31-12-2021 | abbreviated format | 27-09-2022 | 2022-20436480 | |
| 31-12-2020 | abbreviated format | 30-09-2021 | 2021-69300074 | |
| 31-12-2019 | abbreviated format | 14-09-2020 | 2020-52600452 | |
| 31-12-2018 | abbreviated format | 27-09-2019 | 2019-66000545 | |
| 31-12-2017 | abbreviated format | 28-09-2018 | 2018-65500467 | |
| 31-12-2016 | abbreviated format | 29-09-2017 | 2017-63700517 |
Board & ownership
Directors
Owners and capital
Owners
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| Vandriessche Brecht |
|
| Vandriessche Henk |
|
| Vandriessche Marc |
|
| Vandriessche Stan |
|
| Vandriessche Wout |
|
Network & group
DECOVAN shares no director with another company.
Companies at the same address
1 other companyConnections & network
5 current directorsThe network starts from the directors of DECOVAN. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Codes under NACEBEL 2003
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0444.491.810
Financial year and general meeting
Accounts at the NBBRecognitions · licences · registrations
Dual-learning approval
1 live approvalSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 45023A0500/00F000 | Flanders | 2,815 m² | 1 · 1,074 m² | 10.0 m · 1 |