DEFORCHE ENGINEERING
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 30-07-2026 at the NBB all 46 filings
Turnover
≈ €5.7m
Estimated: probably between €3.8m and €9.3m
EBIT margin
Not included in this filing
Net result
€593,873▲ 79.4%
2024 · €331,029
Working capital
€4.0m▲ 7.2%
2024 · €3.7m
In the rankings
#3 company by equity in Moorslede, Manufacturing sector#4 company by total assets in Moorslede, Manufacturing sector#4 oldest company in Moorslede, Manufacturing sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€818,697
▲ 57.2%
2025
20182025
Net result
€593,873
▲ 79.4%
2025
middle half of the sector
20182025
Equity
€3.5m
▲ 20.4%
2025
middle half of the sector
20182025
Total assets
€6.2m
▼ 1.9%
2025
middle half of the sector
20182025
Debt
€2.7m
▼ 21.2%
2025
20182025
Working capital
€4.0m
▲ 7.2%
2025
middle half of the sector
20182025
Solvency
56.8%
▲ 10.6pp
2025
middle half of the sector
20182025
Current ratio
3.87
▲ 0.67
2025
highest quarter of the sector
20182025
Return on assets (ROA)
9.6%
▲ 4.4pp
2025
middle half of the sector
20182025
Staff (FTE)
23.9
▼ 2.8%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.2m-€0.4m▲ 77.0%€0.6m▲ 69.3%€0.6m▼ 6.0%€1.1m▲ 82.4%€1.8m▲ 63.3%€0.5m▼ 71.2%€0.8m▲ 57.2%
Net result€0.1m-€0.3m▲ 88.7%€0.4mabove the sector's middle half▲ 63.7%€0.4mabove the sector's middle half▲ 0.6%€0.8mabove the sector's middle half▲ 73.3%€1.4mabove the sector's middle half▲ 79.2%€0.3mabove the sector's middle half▼ 75.9%€0.6mwithin the sector's middle half▲ 79.4%
Equity€0.3m-€0.3m▲ 24.7%€0.6mwithin the sector's middle half▲ 69.0%€0.8mwithin the sector's middle half▲ 41.3%€1.4mwithin the sector's middle half▲ 68.3%€2.6mabove the sector's middle half▲ 84.0%€2.9mabove the sector's middle half▲ 12.9%€3.5mwithin the sector's middle half▲ 20.4%
Total assets€3.5m-€3.8m▲ 10.9%€4.2mabove the sector's middle half▲ 9.2%€4.2mabove the sector's middle half▲ 0.2%€5.0mabove the sector's middle half▲ 19.4%€6.4mabove the sector's middle half▲ 27.6%€6.3mabove the sector's middle half▼ 2.1%€6.2mwithin the sector's middle half▼ 1.9%
Debt€3.2m-€3.5m▲ 9.7%€3.6m▲ 3.3%€3.4m▼ 6.5%€3.6m▲ 7.3%€3.8m▲ 5.9%€3.4m▼ 12.1%€2.7m▼ 21.2%
Working capital€1.7m-€1.6m▼ 1.5%€2.0mabove the sector's middle half▲ 25.1%€2.1mabove the sector's middle half▲ 0.3%€2.4mabove the sector's middle half▲ 16.6%€3.3mabove the sector's middle half▲ 39.1%€3.7mabove the sector's middle half▲ 11.7%€4.0mwithin the sector's middle half▲ 7.2%
Solvency8.1%-9.1%▲ 1.0pp14.0%below the sector's middle half▲ 5.0pp19.8%below the sector's middle half▲ 5.7pp27.8%within the sector's middle half▲ 8.1pp40.1%within the sector's middle half▲ 12.3pp46.3%within the sector's middle half▲ 6.1pp56.8%within the sector's middle half▲ 10.6pp
Current ratio2.28-1.94▼ 0.332.21within the sector's middle half▲ 0.272.26within the sector's middle half▲ 0.052.16within the sector's middle half▼ 0.102.54within the sector's middle half▲ 0.383.20above the sector's middle half▲ 0.673.87above the sector's middle half▲ 0.67
Return on assets (ROA)4.1%-7.0%▲ 2.9pp10.5%within the sector's middle half▲ 3.5pp10.5%within the sector's middle half=15.3%above the sector's middle half▲ 4.7pp21.4%above the sector's middle half▲ 6.2pp5.3%within the sector's middle half▼ 16.1pp9.6%within the sector's middle half▲ 4.4pp
Staff (FTE)19.8-21.1▲ 6.6%20.1above the sector's middle half▼ 4.7%20.7above the sector's middle half▲ 3.0%22above the sector's middle half▲ 6.3%22.9above the sector's middle half▲ 4.1%24.6above the sector's middle half▲ 7.4%23.9within the sector's middle half▼ 2.8%
above
within
below
The sector band is the middle half of the companies in Manufacture of machinery and equipment not elsewhere classified (NACE 28). 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 57% higher than in 2024. It is a recovery after the fall in 2024.
Large changes and their cause
- 2025 Net result +79% on 2024. The accounts now follow the full format, last year the abbreviated format.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.2m
Fixed assets
€788,625 ▼ 10.1%
Current assets
€5.4m ▼ 0.6%
Equity and liabilities €6.2m
Equity
€3.5m ▲ 20.4%
Debt
€2.7m ▼ 21.2%
Debt's share of the balance-sheet total falls from 53.7% to 43.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.0m▲
2024 · €746,256
Cash flow
€818,012▲
2024 · €556,620
Quick ratio
2.70▲
2024 · 2.40
Debt to equity
0.76▼
2024 · 1.16
ROE
17.0%▲
2024 · 11.4%
Interest coverage
20.17▲
2024 · 12.67
Debt ≤ 1 year
€1.4m▼
2024 · €1.7m
Debt > 1 year
€1.2m▼
2024 · €1.4m
Income taxes
€181,212▲
2024 · €158,223
Staff costs
€2.2m▲
2024 · €2.2m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 21 | 24 | 26 | 25 | 25 |
| full-time | 16 | 17 | 20 | 20 | 21 |
| part-time | 5 | 7 | 6 | 5 | 4 |
| in full-time equivalents | 20 | 22.6 | 24.8 | 24 | 24.2 |
| Average over the year, in full-time equivalents | 20.7 | 22 | 22.9 | 24.6 | 23.8 |
| On a permanent contract | 21 | 24 | 26 | 25 | 25 |
| Joined | 5 | 15 | 5 | 5 | 9 |
| Left | 6 | 12 | 3 | 6 | 9 |
| Training hours | - | - | - | 4 | 4 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €1.7m | €1.6m | €1.8m | €1.4m | €1.2m |
| Mortgages, amount registered | €3.3m | €3.3m | €3.3m | €3.3m | €3.3m |
| Mortgage mandates | €2.4m | €2.4m | €2.4m | €2.4m | €2.4m |
| Carrying value of the mortgaged assets | €290,997 | €286,564 | €284,245 | €281,925 | €281,925 |
| Pledge on the business | €1.4m | €1.4m | €684,024 | €684,024 | €684,024 |
| Mandates to pledge the business | €960,183 | €960,183 | €272,683 | €272,683 | €272,683 |
| Pledge on other assets, amount secured | - | €223,833 | €214,297 | €206,435 | €205,168 |
| Carrying value of the other pledged assets | €200,778 | €223,833 | €214,297 | €206,435 | €205,168 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €157,903 | €181,396 | €561,536 | €179,135 | €135,352 |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €93,013 | €143,207 | €202,683 | €225,592 | €224,139 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2024 · 3 entries · €3,467 awarded · €2,873 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €637 | €43 |
| 2023 | 1 | €143 | €143 |
| 2022 | 1 | €2,687 | €2,687 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0 | - | - | - | €0.02m | - |
| Remuneration, social security and pensions62 | - | - | - | €1.6m | €1.7m | €2.0m | €2.2m | €2.2m | ▲ 1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.2m | €0.1m | €0.09m | €0.1m | €0.2m | €0.2m | €0.2m | ▼ 0.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €0.01m | €0 | - | - | - |
| Other operating charges640/8 | - | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.06m | ▲ 6.7% |
| Gross operating margin9900 | €1.8m | €2.2m | €2.3m | €2.4m | €3.0m | €4.0m | €3.0m | €3.3m | ▲ 11.1% |
| Operating profit (loss)9901 | €0.2m | €0.4m | €0.6m | €0.6m | €1.1m | €1.8m | €0.5m | €0.8m | ▲ 57.2% |
| Financial income75/76B | - | - | - | €0.001m | €44 | €29 | €0.03m | €0.008m | ▼ 70.6% |
| Recurring financial income75 | €0.001m | €0.001m | €0.001m | €0.001m | €44 | €29 | €0.03m | €0.008m | ▼ 70.6% |
| Financial charges65/66B | - | - | - | €0.04m | €0.04m | €0.05m | €0.06m | €0.05m | ▼ 12.2% |
| Recurring financial charges65 | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | €0.05m | €0.06m | €0.05m | ▼ 12.2% |
| Profit (loss) for the period before taxes9903 | €0.2m | €0.3m | €0.6m | €0.6m | €1.1m | €1.8m | €0.5m | €0.8m | ▲ 58.4% |
| Transfer from deferred taxes780 | - | - | - | €181 | €11 | €0 | - | - | - |
| Income taxes67/77 | €0.04m | €0.07m | €0.2m | €0.1m | €0.3m | €0.4m | €0.2m | €0.2m | ▲ 14.5% |
| Profit (loss) for the period9904 | €0.1m | €0.3m | €0.4m | €0.4m | €0.8m | €1.4m | €0.3m | €0.6m | ▲ 79.4% |
| Transfer from tax-exempt reserves789 | - | - | - | €0 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €0.1m | €0.3m | €0.5m | €0.4m | €0.8m | €1.4m | €0.3m | €0.6m | ▲ 79.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €3.5m | €3.8m | €4.2m | €4.2m | €5.0m | €6.4m | €6.3m | €6.2m | ▼ 1.9% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €0.5m | €0.5m | €0.5m | €0.5m | €0.6m | €0.9m | €0.9m | €0.8m | ▼ 10.1% |
| Intangible fixed assets21 | €0.001m | €0 | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €0.5m | €0.5m | €0.5m | €0.5m | €0.6m | €0.9m | €0.9m | €0.8m | ▼ 10.1% |
| Land and buildings22 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 0.8% |
| Plant, machinery and equipment23 | - | - | - | €0.2m | €0.3m | €0.6m | €0.6m | €0.5m | ▼ 14.0% |
| Furniture and vehicles24 | - | - | - | €0.03m | €0.01m | €0.009m | €0.008m | €0.004m | ▼ 42.8% |
| Leasing and similar rights25 | - | - | - | - | - | €0.009m | €0.007m | €0.005m | ▼ 26.8% |
| Financial fixed assets28 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Current assets29/58 | €3.0m | €3.4m | €3.7m | €3.7m | €4.5m | €5.5m | €5.4m | €5.4m | ▼ 0.6% |
| Stocks and contracts in progress3 | €0.4m | €0.3m | €0.7m | €1.1m | €1.8m | €1.7m | €1.4m | €1.6m | ▲ 20.4% |
| Stocks30/36 | - | - | - | €0.8m | €0.7m | €0.7m | €0.7m | €0.9m | ▲ 29.7% |
| Contracts in progress37 | - | - | - | €0.3m | €1.0m | €0.9m | €0.7m | €0.8m | ▲ 11.5% |
| Amounts receivable within one year40/41 | €0.8m | €1.9m | €1.5m | €0.8m | €1.6m | €2.2m | €2.0m | €1.6m | ▼ 17.7% |
| Trade receivables40 | - | - | - | €0.8m | €1.6m | €2.0m | €1.9m | €1.6m | ▼ 17.4% |
| Other amounts receivable41 | - | - | - | €0.08m | €0.07m | €0.2m | €0.04m | €0.03m | ▼ 31.5% |
| Current investments50/53 | €0.9m | €0.7m | €0.6m | €0.7m | €0.3m | €0.9m | €0.2m | €0.6m | ▲ 219% |
| Cash at bank and in hand54/58 | €0.4m | €0.1m | €0.4m | €0.8m | €0.6m | €0.6m | €1.8m | €1.3m | ▼ 23.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.2m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 7.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €3.5m | €3.8m | €4.2m | €4.2m | €5.0m | €6.4m | €6.3m | €6.2m | ▼ 1.9% |
| Equity10/15 | €0.3m | €0.3m | €0.6m | €0.8m | €1.4m | €2.6m | €2.9m | €3.5m | ▲ 20.4% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Issued capital100 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Reserves13 | €0.05m | €0.05m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Legal reserve130 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Profit (loss) carried forward14 | €0.1m | €0.2m | €0.5m | €0.7m | €1.3m | €2.4m | €2.8m | €3.4m | ▲ 21.4% |
| Investment grants15 | - | - | - | €22 | €0 | - | - | - | - |
| Provisions and deferred taxes16 | €0.001m | €0.001m | €192 | €11 | €0 | - | - | - | - |
| Deferred taxes168 | - | - | - | €11 | €0 | - | - | - | - |
| Amounts payable17/49 | €3.2m | €3.5m | €3.6m | €3.4m | €3.6m | €3.8m | €3.4m | €2.7m | ▼ 21.2% |
| Amounts payable after more than one year17 | €1.9m | €1.8m | €1.6m | €1.5m | €1.4m | €1.6m | €1.4m | €1.2m | ▼ 12.8% |
| Financial debts170/4 | - | - | - | €1.3m | €1.2m | €1.4m | €1.2m | €1.0m | ▼ 14.9% |
| Other amounts payable178/9 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Amounts payable within one year42/48 | €1.3m | €1.7m | €1.7m | €1.6m | €2.1m | €2.2m | €1.7m | €1.4m | ▼ 17.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | ▼ 13.0% |
| Financial debts43 | - | - | - | €0.3m | €0.3m | €0.2m | €0.01m | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | €0.3m | €0.3m | €0.2m | €0.01m | €0 | ▼ 100% |
| Trade debts44 | €0.5m | €0.8m | €0.7m | €0.6m | €0.6m | €0.9m | €0.9m | €0.7m | ▼ 26.7% |
| Suppliers440/4 | - | - | - | €0.6m | €0.6m | €0.9m | €0.9m | €0.7m | ▼ 26.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.3m | €0.7m | €0.6m | €0.4m | €0.5m | ▲ 24.1% |
| Taxes450/3 | - | - | - | €0.08m | €0.4m | €0.3m | €0.1m | €0.3m | ▲ 77.9% |
| Remuneration and social security454/9 | - | - | - | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 2.4% |
| Other amounts payable47/48 | - | - | - | €0.3m | €0.3m | €0.3m | €0.1m | €2 | ▼ 100.0% |
| Accrued charges and deferred income492/3 | - | - | - | €0.3m | €0.2m | €0.09m | €0.3m | €0.04m | ▼ 85.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.1m | €0.3m | €0.4m | €0.4m | €0.8m | €1.4m | €0.3m | €0.6m | ▲ 79.4% |
| + Depreciation and write-downs630 | €0.2m | €0.2m | €0.1m | €0.09m | €0.1m | €0.2m | €0.2m | €0.2m | ▼ 0.6% |
| Operating cash flow (approximation) | €0.3m | €0.4m | €0.5m | €0.5m | €0.9m | €1.6m | €0.6m | €0.8m | ▲ 47.0% |
| Investment in fixed assets (approximation) | - | -€0.1m | -€0.08m | -€0.2m | -€0.2m | -€0.6m | -€0.2m | -€0.1m | ▲ 24.4% |
| Change in cash | - | -€0.3m | €0.3m | €0.4m | -€0.2m | -€0.05m | €1.2m | -€0.4m | - |
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, 20,136 companies had the same profile as DEFORCHE ENGINEERING has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
That fits the bankruptcy probability of DEFORCHE ENGINEERING itself: < 0.1% 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 20,136 companies, not a prediction for DEFORCHE ENGINEERING. 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 46 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 30-07-2026 | 2026-00377030 | |
| 31-12-2024 | abbreviated format | 30-07-2025 | 2025-00343645 | |
| 31-12-2023 | abbreviated format | 26-07-2024 | 2024-00291583 | |
| 31-12-2022 | abbreviated format | 26-07-2023 | 2023-00273405 | |
| 31-12-2021 | abbreviated format | 25-07-2022 | 2022-20217995 | |
| 31-12-2020 | abbreviated format | 28-07-2021 | 2021-41300403 | |
| 31-12-2019 | abbreviated format | 22-07-2020 | 2020-32800541 | |
| 31-12-2018 | abbreviated format | 07-06-2019 | 2019-16900226 | |
| 31-12-2017 | abbreviated format | 11-07-2018 | 2018-33400334 | |
| 31-12-2016 | abbreviated format | 31-08-2017 | 2017-59800498 |