Decrem
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 31-10-2025 PDF all 47 filings
Turnover
≈ €2.0m
Estimated: probably between €1.5m and €2.4m
Total assets
€2.2m▲ 1.6%
2024 · €2.2m
Net result
€59,946▼ 69.6%
2024 · €197,415
Working capital
€762,368▼ 60.2%
2024 · €1.9m
In the rankings
#3 oldest company in Pajottegem, Construction sector#8 employer in Pajottegem, Construction sector#8 company by total assets in Pajottegem, Construction sector
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€80,567
▼ 69.7%
2025
20192025
Net result
€59,946
▼ 69.6%
2025
middle half of the sector
20192025
Equity
€823,733
▼ 58.1%
2025
highest quarter of the sector
20192025
Total assets
€2.2m
▲ 1.6%
2025
highest quarter of the sector
20192025
Debt
€1.4m
▲ 614%
2025
20192025
Working capital
€762,368
▼ 60.2%
2025
highest quarter of the sector
20192025
Solvency
37.6%
▼ 53.5pp
2025
middle half of the sector
20192025
Current ratio
1.56
▼ 9.47
2025
middle half of the sector
20192025
Return on assets (ROA)
2.7%
▼ 6.4pp
2025
middle half of the sector
20192025
Staff (FTE)
7.7
▼ 6.1%
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.7m-€0.3m▼ 60.4%€0.02m▼ 94.5%€0.02m▲ 14.2%€0.09m▲ 407%€0.3m▲ 201%€0.08m▼ 69.7%
Net result€0.5m-€0.2mabove the sector's middle half▼ 60.0%€0.006mbelow the sector's middle half▼ 96.9%€0.01mwithin the sector's middle half▲ 126%€0.07mwithin the sector's middle half▲ 359%€0.2mabove the sector's middle half▲ 201%€0.06mwithin the sector's middle half▼ 69.6%
Equity€1.5m-€1.7mabove the sector's middle half▲ 13.7%€1.7mabove the sector's middle half▲ 0.4%€1.7mabove the sector's middle half▲ 0.8%€1.8mabove the sector's middle half▲ 3.9%€2.0mabove the sector's middle half▲ 11.2%€0.8mabove the sector's middle half▼ 58.1%
Total assets€1.8m-€1.9mabove the sector's middle half▲ 5.3%€1.9mabove the sector's middle half▲ 1.0%€1.8mabove the sector's middle half▼ 3.0%€1.9mabove the sector's middle half▲ 4.2%€2.2mabove the sector's middle half▲ 12.1%€2.2mabove the sector's middle half▲ 1.6%
Debt€0.3m-€0.2m▼ 34.4%€0.2m▲ 5.7%€0.1m▼ 33.0%€0.2m▲ 7.8%€0.2m▲ 22.9%€1.4m▲ 614%
Working capital€1.4m-€1.6mabove the sector's middle half▲ 12.9%€1.6mabove the sector's middle half▼ 0.3%€1.6mabove the sector's middle half▲ 1.6%€1.7mabove the sector's middle half▲ 5.6%€1.9mabove the sector's middle half▲ 12.3%€0.8mabove the sector's middle half▼ 60.2%
Solvency82.6%-89.2%above the sector's middle half▲ 6.5pp88.7%above the sector's middle half▼ 0.5pp92.2%above the sector's middle half▲ 3.5pp91.9%above the sector's middle half▼ 0.3pp91.1%above the sector's middle half▼ 0.8pp37.6%within the sector's middle half▼ 53.5pp
Current ratio5.54-8.82above the sector's middle half▲ 3.288.38above the sector's middle half▼ 0.4412.19above the sector's middle half▲ 3.8112.01above the sector's middle half▼ 0.1811.03above the sector's middle half▼ 0.981.56within the sector's middle half▼ 9.47
Return on assets (ROA)28.2%-10.7%within the sector's middle half▼ 17.5pp0.3%below the sector's middle half▼ 10.4pp0.8%below the sector's middle half▲ 0.4pp3.4%within the sector's middle half▲ 2.6pp9.2%within the sector's middle half▲ 5.8pp2.7%within the sector's middle half▼ 6.4pp
Staff (FTE)10.3-9.3within the sector's middle half▼ 9.7%7.4within the sector's middle half▼ 20.4%8within the sector's middle half▲ 8.1%8.3within the sector's middle half▲ 3.8%8.2within the sector's middle half▼ 1.2%7.7within the sector's middle half▼ 6.1%
above
within
below
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 operating result for 2025 is 70% lower than in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.2m
Fixed assets
€66,829 ▲ 31.1%
Current assets
€2.1m ▲ 0.8%
Equity and liabilities €2.2m
Equity
€823,733 ▼ 58.1%
Debt
€1.4m ▲ 614%
Debt's share of the balance-sheet total rises from 8.9% to 62.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€103,171▼
2024 · €285,508
Cash flow
€82,551▼
2024 · €217,277
Quick ratio
1.52▼
2024 · 10.49
Debt to equity
1.66▲
2024 · 0.10
ROE
7.3%▼
2024 · 10.1%
Interest coverage
78.27▼
2024 · over 100
Debt ≤ 1 year
€1.4m▲
2024 · €190,705
Income taxes
€20,392▼
2024 · €68,122
Staff costs
€556,740▼
2024 · €558,301
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 11 | 10 | 10 | 8 |
| full-time | 8 | 6 | 8 | 5 |
| part-time | 3 | 4 | 2 | 3 |
| in full-time equivalents | 9.6 | 8 | 9 | 6.8 |
| Average over the year, in full-time equivalents | 8 | 8.3 | 8.2 | 7.7 |
| On a permanent contract | 11 | 10 | 10 | 8 |
| Joined | 2 | 2 | 2 | 5 |
| Left | 1 | 3 | 2 | 7 |
| Training hours | 34 | 140 | 16 | 319 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €27,717 | €6,301 | €6,918 | €38,463 |
| Depreciation and write-downs of the year | €38,875 | €29,889 | €19,862 | €22,604 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 4 entries · €2,258 awarded · €2,518 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €480 | €491 |
| 2024 | 1 | €530 | €1,110 |
| 2023 | 1 | €659 | €636 |
| 2022 | 1 | €589 | €281 |
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €0.001m | €400 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0.4m | €0.5m | €0.6m | €0.6m | ▼ 0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.06m | €0.05m | €0.04m | €0.04m | €0.03m | €0.02m | €0.02m | ▲ 13.8% |
| Other operating charges640/8 | - | - | - | €0.008m | €0.008m | €0.008m | €0.01m | ▲ 33.0% |
| Non-recurring operating charges66A | - | - | - | €0.002m | - | - | - | - |
| Gross operating margin9900 | €1.3m | €0.8m | €0.5m | €0.5m | €0.6m | €0.9m | €0.7m | ▼ 21.3% |
| Operating profit (loss)9901 | €0.7m | €0.3m | €0.02m | €0.02m | €0.09m | €0.3m | €0.08m | ▼ 69.7% |
| Financial income75/76B | - | - | - | €0.003m | €0.002m | €0.002m | €0.001m | ▼ 35.3% |
| Recurring financial income75 | €0.005m | €0.002m | €0.002m | €0.003m | €0.002m | €0.002m | €0.001m | ▼ 35.3% |
| Financial charges65/66B | - | - | - | €0.003m | €0.002m | €0.002m | €0.001m | ▼ 26.5% |
| Recurring financial charges65 | €0.008m | €0.001m | €0.005m | €0.003m | €0.002m | €0.002m | €0.001m | ▼ 26.5% |
| Profit (loss) for the period before taxes9903 | €0.7m | €0.3m | €0.01m | €0.02m | €0.09m | €0.3m | €0.08m | ▼ 69.7% |
| Income taxes67/77 | €0.2m | €0.08m | €0.005m | €0.004m | €0.02m | €0.07m | €0.02m | ▼ 70.1% |
| Profit (loss) for the period9904 | €0.5m | €0.2m | €0.006m | €0.01m | €0.07m | €0.2m | €0.06m | ▼ 69.6% |
| Profit (loss) for the period to be appropriated9905 | €0.5m | €0.2m | €0.05m | €0.01m | €0.07m | €0.2m | €0.06m | ▼ 69.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.8m | €1.9m | €1.9m | €1.8m | €1.9m | €2.2m | €2.2m | ▲ 1.6% |
| Fixed assets21/28 | €0.07m | €0.09m | €0.1m | €0.09m | €0.06m | €0.05m | €0.07m | ▲ 31.1% |
| Intangible fixed assets21 | €0.001m | €0.001m | €0.001m | €320 | - | - | - | - |
| Tangible fixed assets22/27 | €0.07m | €0.09m | €0.1m | €0.09m | €0.06m | €0.05m | €0.07m | ▲ 31.3% |
| Plant, machinery and equipment23 | - | - | - | €0.02m | €0.02m | €0.01m | €0.008m | ▼ 34.4% |
| Furniture and vehicles24 | - | - | - | €0.05m | €0.04m | €0.03m | €0.05m | ▲ 78.9% |
| Other tangible fixed assets26 | - | - | - | €0.02m | €0.01m | €0.01m | €0.008m | ▼ 24.3% |
| Financial fixed assets28 | €268 | €268 | €268 | €268 | €268 | €268 | €268 | = |
| Current assets29/58 | €1.7m | €1.8m | €1.8m | €1.8m | €1.9m | €2.1m | €2.1m | ▲ 0.8% |
| Stocks and contracts in progress3 | €0.01m | €0.01m | €0.02m | €0.3m | €0.2m | €0.1m | €0.05m | ▼ 51.3% |
| Stocks30/36 | - | - | - | €0.04m | €0.04m | €0.04m | €0.02m | ▼ 41.6% |
| Contracts in progress37 | - | - | - | €0.2m | €0.2m | €0.07m | €0.03m | ▼ 56.8% |
| Amounts receivable within one year40/41 | €0.3m | €0.3m | €0.8m | €0.3m | €0.3m | €0.2m | €0.3m | ▲ 26.7% |
| Trade receivables40 | - | - | - | €0.2m | €0.3m | €0.2m | €0.3m | ▲ 57.8% |
| Other amounts receivable41 | - | - | - | €0.09m | €0.02m | €0.06m | €0.02m | ▼ 62.7% |
| Cash at bank and in hand54/58 | €1.2m | €1.4m | €0.9m | €1.1m | €1.3m | €1.7m | €1.7m | ▲ 0.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.03m | €0.02m | €0.02m | €0.02m | ▼ 11.7% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.8m | €1.9m | €1.9m | €1.8m | €1.9m | €2.2m | €2.2m | ▲ 1.6% |
| Equity10/15 | €1.5m | €1.7m | €1.7m | €1.7m | €1.8m | €2.0m | €0.8m | ▼ 58.1% |
| Contributions10/11 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Capital10 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Issued capital100 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €0.07m | €0.07m | €1.5m | €1.5m | €1.6m | €1.8m | €0.6m | ▼ 64.1% |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Legal reserve130 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | - | - | €1.5m | €1.6m | €1.8m | €0.6m | ▼ 64.8% |
| Profit (loss) carried forward14 | €1.2m | €1.4m | - | - | - | - | - | - |
| Amounts payable17/49 | €0.3m | €0.2m | €0.2m | €0.1m | €0.2m | €0.2m | €1.4m | ▲ 614% |
| Amounts payable within one year42/48 | €0.3m | €0.2m | €0.2m | €0.1m | €0.2m | €0.2m | €1.4m | ▲ 613% |
| Trade debts44 | €0.2m | €0.2m | €0.1m | €0.09m | €0.1m | €0.1m | €0.09m | ▼ 20.1% |
| Suppliers440/4 | - | - | - | €0.09m | €0.1m | €0.1m | €0.09m | ▼ 20.1% |
| Taxes, remuneration and social security45 | - | - | - | €0.06m | €0.04m | €0.08m | €0.07m | ▼ 11.5% |
| Taxes450/3 | - | - | - | €48 | €0.006m | €0.01m | €0.01m | ▲ 2.5% |
| Remuneration and social security454/9 | - | - | - | €0.06m | €0.04m | €0.07m | €0.06m | ▼ 14.0% |
| Other amounts payable47/48 | - | - | - | - | - | - | €1.2m | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.001m | €421 | €0.005m | ▲ 13× |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €504,565 | €201,877 | €6,333 | €14,285 | €65,537 | €197,415 | €59,946 | ▼ 69.6% |
| + Depreciation and write-downs630 | €55,230 | €54,426 | €43,153 | €38,875 | €29,889 | €19,862 | €22,604 | ▲ 13.8% |
| Operating cash flow (approximation) | €559,794 | €256,303 | €49,486 | €53,160 | €95,426 | €217,277 | €82,551 | ▼ 62.0% |
| Investment in fixed assets (approximation) | - | -€74,741 | -€53,653 | -€27,717 | -€6,301 | -€6,918 | -€38,463 | ▼ 456% |
| Change in cash | - | €176,664 | -€484,601 | €254,974 | €157,935 | €431,929 | €8,029 | ▼ 98.1% |
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, 17,041 companies had the same profile as Decrem has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Decrem 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 17,041 companies, not a prediction for Decrem. 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 47 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2025 | abbreviated format | 31-10-2025 | 2025-00559847 | |
| 31-03-2024 | abbreviated format | 30-10-2024 | 2024-00527006 | |
| 31-03-2023 | abbreviated format | 31-10-2023 | 2023-00500630 | |
| 31-03-2022 | abbreviated format | 31-10-2022 | 2022-20481585 | |
| 31-03-2021 | abbreviated format | 29-10-2021 | 2021-75200273 | |
| 31-03-2020 | abbreviated format | 10-11-2020 | 2020-69600211 | |
| 31-03-2019 | abbreviated format | 31-10-2019 | 2019-72600165 | |
| 31-03-2018 | abbreviated format | 31-10-2018 | 2018-71300151 | |
| 31-03-2017 | abbreviated format | 09-11-2017 | 2017-69400334 | |
| 31-03-2016 | abbreviated format | 10-11-2016 | 2016-67700134 |