DEFI CONSTRUCTIONS
InactiveDEFI CONSTRUCTIONS was declared bankrupt on 20-04-2023 (Tribunal de l’entreprise de Liège, division Namur); the bankruptcy was closed for insufficient assets by judgment of 29-10-2025, published in the Belgian State Gazette on 04-11-2025.
Summary
Inactive; last annual accounts for fiscal year 2021.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2022, 4 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 7 filingsPosition against the passed deadline
31-12-2022 close31-07-2023 deadline25-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 25-07-2022, 6 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
6 d early
2020
17 d late
2019
19 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2021, micro schema
Turnover
€1.16M▲ 42.5%
2020 · €816k
2018: €108klowest in 4 years
2019: €436k▲ +304% vs 2018
2020: €816k▲ +87.1% vs 2019
2021: €1.16M▲ +42.5% vs 2020highest in 4 years
2018 → 2021
EBIT margin
0.3%▼ 0.1pp
2020 · 0.4%
2018: 11.1%highest in 4 years
2019: 1.2%▼ -89.1% vs 2018
2020: 0.4%▼ -64.6% vs 2019
2021: 0.3%▼ -20.8% vs 2020lowest in 4 years
2018 → 2021
Net result
€1k▲ 39.4%
2020 · €994
2018: €12khighest in 4 years
2019: €3k▼ -72.9% vs 2018
2020: €994▼ -68.8% vs 2019lowest in 4 years
2021: €1k▲ +39.4% vs 2020
2018 → 2021
Working capital
€24k▼ 39.7%
2020 · €39k
2018: €17klowest in 4 years
2019: €19k▲ +16.8% vs 2018
2020: €39k▲ +102% vs 2019highest in 4 years
2021: €24k▼ -39.7% vs 2020
2018 → 2021
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2018201920202021Trend
Turnover€108k-€436k▲ 304%€816k▲ 87.1%€1.16M▲ 42.5%
2018: €108klowest in 4 years
2019: €436k▲ +304% vs 2018
2020: €816k▲ +87.1% vs 2019
2021: €1.16M▲ +42.5% vs 2020highest in 4 years
Equity€18k-€21k▲ 18.1%€22k▲ 4.8%€23k▲ 6.4%
2018: €18klowest in 4 years
2019: €21k▲ +18.1% vs 2018
2020: €22k▲ +4.8% vs 2019
2021: €23k▲ +6.4% vs 2020highest in 4 years
Operating result€12k-€5k▼ 56.2%€3k▼ 33.7%€4k▲ 12.8%
2018: €12khighest in 4 years
2019: €5k▼ -56.2% vs 2018
2020: €3k▼ -33.7% vs 2019lowest in 4 years
2021: €4k▲ +12.8% vs 2020
Net result€12k-€3k▼ 72.9%€994▼ 68.8%€1k▲ 39.4%
2018: €12khighest in 4 years
2019: €3k▼ -72.9% vs 2018
2020: €994▼ -68.8% vs 2019lowest in 4 years
2021: €1k▲ +39.4% vs 2020
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2021; 2021 is 13% above 2020.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €146k
Fixed assets
€6k ▼ 17.3%
Current assets
€139k ▲ 21.3%
Equity and liabilities €146k
Equity
€23k ▲ 6.4%
Debt
€122k ▲ 21.6%
Debt's share of the balance-sheet total rises from 82.2% to 84.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€7k▲
2020 · €5k
Cash flow
€4k▲
2020 · €3k
Current ratio
1.21▼
2020 · 1.52
Quick ratio
1.14▼
2020 · 1.52
Debt to equity
5.29
ROE
6.0%▲
2020 · 4.6%
ROA
1.0%▲
2020 · 0.8%
Interest coverage
2.62
Debt ≤ 1 year
€115k▲
2020 · €75k
Income taxes
€8
Staff costs
€142k
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 · 2021 against 2020 · 46 lines
Balance sheet
Code20202021
Assets
Total assets20/58€122k€146k▲
Fixed assets21/28€8k€6k▼
Tangible fixed assets22/27€8k€6k▼
Plant, machinery and equipment23-€5k
Furniture and vehicles24-€2k
Current assets29/58€115k€139k▲
Stocks and contracts in progress3€39k€8k▼
Contracts in progress37-€8k
Amounts receivable within one year40/41€26k€101k▲
Trade receivables40-€95k
Other amounts receivable41-€6k
Cash at bank and in hand54/58€32k€31k▼
Equity and liabilities
Total equity and liabilities10/49€122k€146k▲
Equity10/15€22k€23k▲
Contributions10/11€19k€19k=
Outside capital11-€19k
Other1109/19-€19k
Reserves13€214€214=
Non-distributable reserves130/1-€214
Reserves not available under the articles1311-€214
Profit (loss) carried forward14€3k€4k▲
Amounts payable17/49€101k€122k▲
Amounts payable within one year42/48€75k€115k▲
Trade debts44€30k€95k▲
Suppliers440/4-€95k
Taxes, remuneration and social security45-€8k
Remuneration and social security454/9-€8k
Other amounts payable47/48-€13k
Accrued charges and deferred income492/3-€7k
Income statement
Code20202021
Turnover70€816k€1.16M▲
Goods, raw materials, services and sundry goods60/61-€1.01M
Remuneration, social security and pensions62-€142k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€3k▲
Other operating charges640/8-€2k
Gross operating margin9900€126k€151k▲
Operating profit (loss)9901€3k€4k▲
Financial income75/76B-€6
Recurring financial income75€133€6▼
Financial charges65/66B-€3k
Recurring financial charges65€3k€3k▼
Profit (loss) for the period before taxes9903€994€1k▲
Income taxes67/77-€8
Profit (loss) for the period9904€994€1k▲
Profit (loss) for the period to be appropriated9905€994€1k▲
Appropriation of the result
Profit (loss) to be appropriated9906-€4k
Profit (loss) brought forward from the previous period14P-€3k
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Turnover70 | €108k | €436k | €816k | €1.16M | ▲ 42.5% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €1.01M | - |
| Remuneration, social security and pensions62 | - | - | - | €142k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1k | €1k | €2k | €3k | ▲ 50.7% |
| Other operating charges640/8 | - | - | - | €2k | - |
| Gross operating margin9900 | €35k | €11k | €126k | €151k | ▲ 19.7% |
| Operating profit (loss)9901 | €12k | €5k | €3k | €4k | ▲ 12.8% |
| Financial income75/76B | - | - | - | €6 | - |
| Recurring financial income75 | - | - | €133 | €6 | ▼ 95.5% |
| Financial charges65/66B | - | - | - | €3k | - |
| Recurring financial charges65 | €182 | €257 | €3k | €3k | ▼ 3.1% |
| Profit (loss) for the period before taxes9903 | €12k | €5k | €994 | €1k | ▲ 40.2% |
| Income taxes67/77 | - | €2k | - | €8 | - |
| Profit (loss) for the period9904 | €12k | €3k | €994 | €1k | ▲ 39.4% |
| Profit (loss) for the period to be appropriated9905 | €12k | €3k | €994 | €1k | ▲ 39.4% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €27k | €51k | €122k | €146k | ▲ 18.9% |
| Fixed assets21/28 | €1k | €1k | €8k | €6k | ▼ 17.3% |
| Tangible fixed assets22/27 | €1k | €1k | €8k | €6k | ▼ 17.3% |
| Plant, machinery and equipment23 | - | - | - | €5k | - |
| Furniture and vehicles24 | - | - | - | €2k | - |
| Current assets29/58 | €26k | €49k | €115k | €139k | ▲ 21.3% |
| Stocks and contracts in progress3 | - | €18k | €39k | €8k | ▼ 80.5% |
| Contracts in progress37 | - | - | - | €8k | - |
| Amounts receivable within one year40/41 | €16k | €3k | €26k | €101k | ▲ 286% |
| Trade receivables40 | - | - | - | €95k | - |
| Other amounts receivable41 | - | - | - | €6k | - |
| Cash at bank and in hand54/58 | €9k | €28k | €32k | €31k | ▼ 3.3% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €27k | €51k | €122k | €146k | ▲ 18.9% |
| Equity10/15 | €18k | €21k | €22k | €23k | ▲ 6.4% |
| Contributions10/11 | €19k | €19k | €19k | €19k | = |
| Outside capital11 | - | - | - | €19k | - |
| Other1109/19 | - | - | - | €19k | - |
| Reserves13 | - | €214 | €214 | €214 | = |
| Non-distributable reserves130/1 | - | - | - | €214 | - |
| Reserves not available under the articles1311 | - | - | - | €214 | - |
| Profit (loss) carried forward14 | €-1k | €2k | €3k | €4k | ▲ 47.4% |
| Amounts payable17/49 | €9k | €30k | €101k | €122k | ▲ 21.6% |
| Amounts payable within one year42/48 | €9k | €30k | €75k | €115k | ▲ 53.1% |
| Trade debts44 | - | €19k | €30k | €95k | ▲ 216% |
| Suppliers440/4 | - | - | - | €95k | - |
| Taxes, remuneration and social security45 | - | - | - | €8k | - |
| Remuneration and social security454/9 | - | - | - | €8k | - |
| Other amounts payable47/48 | - | - | - | €13k | - |
| Accrued charges and deferred income492/3 | - | - | - | €7k | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12k | €3k | €994 | €1k | ▲ 39.4% |
| + Depreciation and write-downs630 | €1k | €1k | €2k | €3k | ▲ 50.7% |
| Operating cash flow (approximation) | €13k | €4k | €3k | €4k | ▲ 46.7% |
| Investment in fixed assets (approximation) | - | €-1k | €-8k | €-1k | ▲ 83.3% |
| Change in cash | - | €19k | €3k | €-1k | ▼ 131% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
04-11
Bankruptcy
Bankruptcy closure (insufficient assets)
Tribunal de l’entreprise de Liège, division Namur · event 29-10-2025
2023
26-04
Bankruptcy
Opening
Tribunal de l’entreprise de Liège, division Namur · event 20-04-2023
2022
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
17-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 17 days late
2020
31-12
Financial
Weakest financial yearnet €994 ▼68.8%
Net result drops to €994, the lowest in the series.
19-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 19 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
15-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
24-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 24 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | BENOIT DARMONT CHAUSSEE DE CHARLEROI, 164,
5070 04 VITRIVAL- .
41503
MONITEUR BELGE — 26.04.2023 — BELGISCH STAATSBLAD |
20-04-2023 → 29-10-2025 |