DEGRO
ActiveFinancials · financial year 2026, full format
Annual accounts 2026 filed on 28-08-2026 at the NBB all 34 filings
2022 to 2026, 5 financial years 2019 to 2026, 8 financial years
The operating result for 2026 is 76% lower than in 2025 and the lowest since 2022.
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).
- 2026 Net result -87% on 2025. Partial demerger to FORTAN MANAGEMENT, Official Gazette 23-02-2026. Merger absorbing DEGROCON, proposed with effect from 23-09-2025.
Comparable companies
These companies have the same main activity as DEGRO: other specialised construction activities (NACE 43990). They are comparable in size and age: total assets between €10m and €19m, founded between 1984 and 2000.
| Company | Founded | Total assets | Equity | Turnover | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| DEGRO Ieper | 1991 | €14.7m | €6.4m | €13.1m | €0.2m | 33.3 | 2026 |
| BENELMAT Gembloux | 1997 | €15.6m | €5.6m | €12.2m | -€1.1m | 40.5 | 2025 |
| WILG Europe Arendonk | 1998 | €16.3m | €2.7m | €15.5m | -€1.0m | 35.2 | 2025 |
| GOUDA VUURVAST BELGIUM Wijnegem | 1996 | €17.4m | €2.8m | €14.1m | €2.2m | 42.4 | 2025 |
| WILLY NAESSENS SWIMMING POOLS Oudenaarde | 2000 | €15.4m | €1.8m | €13.9m | €0.05m | 39.7 | 2025 |
| INTERNATIONAL MONTAGE MAINTENANCE Waterloo | 1984 | €10.5m | €4.1m | €11.5m | €1.4m | 23 | 2025 |
| LAMEIRE FUNDERINGSTECHNIEKEN Eeklo | 1999 | €19.0m | €4.1m | €21.6m | €2.7m | 34.5 | 2025 |
They were chosen from the 7,010 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, 14,766 companies had the same profile as DEGRO has now. Two years later, 0.2% had gone bankrupt and 96.2% were still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DEGRO itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,445 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 14,766 companies, not a prediction for DEGRO. 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.
Subsidies and aid
Flemish government
2022 to 2025 · 4 entries · €13,727 awarded · €11,462 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €5,927 | €4,130 |
| 2024 | 1 | €3,015 | €2,796 |
| 2023 | 1 | €1,016 | €3,257 |
| 2022 | 1 | €3,769 | €1,279 |
Public contracts
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €12.2m | €14.1m | €13.3m | €15.4m | €13.1m | ▼ 14.9% |
| Turnover70 | - | €13.6m | €10.7m | €12.3m | €13.1m | €13.9m | €13.6m | €13.1m | ▼ 3.7% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | -€0.4m | €1.0m | -€1.0m | €1.7m | -€0.3m | - |
| Other operating income74 | - | - | - | €0.02m | €0.06m | €0.08m | €0.02m | €0.2m | ▲ 567% |
| Non-recurring operating income76A | - | - | - | €0.2m | - | €0.4m | €0.07m | €0.2m | ▲ 261% |
| Operating charges60/66A | - | - | - | €10.9m | €13.4m | €12.1m | €13.8m | €12.7m | ▼ 7.5% |
| Goods for resale, raw materials and consumables60 | - | - | - | €2.8m | €3.6m | €3.7m | €4.6m | €3.8m | ▼ 19.2% |
| Purchases600/8 | - | - | - | €2.8m | €3.5m | €3.7m | €4.6m | €3.8m | ▼ 19.2% |
| Change in stocks: decrease (increase)609 | - | - | - | -€0.05m | €0.05m | €0.004m | -€0.002m | -€0.002m | ▲ 6.9% |
| Services and other goods61 | - | - | - | €4.2m | €5.0m | €3.8m | €3.9m | €4.7m | ▲ 18.8% |
| Remuneration, social security and pensions62 | - | - | - | €2.2m | €2.5m | €2.0m | €2.3m | €2.3m | ▲ 0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1.1m | €1.3m | €1.4m | €1.7m | €2.3m | €2.5m | €2.8m | €1.9m | ▼ 32.4% |
| Other operating charges640/8 | - | - | - | €0.04m | €0.05m | €0.04m | €0.05m | €0.1m | ▲ 173% |
| Non-recurring operating charges66A | - | - | - | €0.03m | €0.003m | €0.03m | €0.07m | €0.001m | ▼ 98.9% |
| Gross operating margin9900 | €4.9m | - | - | - | - | - | - | - | - |
| Operating profit (loss)9901 | €1.7m | €1.6m | €1.0m | €1.3m | €0.7m | €1.2m | €1.7m | €0.4m | ▼ 76.2% |
| Financial income75/76B | - | - | - | €0.1m | €0.06m | €0.03m | €0.05m | €0.08m | ▲ 48.2% |
| Recurring financial income75 | €0.05m | €0.1m | €0.04m | €0.1m | €0.06m | €0.03m | €0.05m | €0.08m | ▲ 48.2% |
| Income from current assets751 | - | - | - | €3 | €303 | - | - | €0.005m | - |
| Other financial income752/9 | - | - | - | €0.1m | €0.06m | €0.03m | €0.05m | €0.07m | ▲ 38.9% |
| Financial charges65/66B | - | - | - | €0.08m | €0.1m | €0.2m | €0.3m | €0.2m | ▼ 18.2% |
| Recurring financial charges65 | €0.07m | €0.08m | €0.07m | €0.08m | €0.1m | €0.2m | €0.3m | €0.2m | ▼ 18.2% |
| Debt charges650 | - | €0.03m | €0.03m | €0.03m | €0.05m | €0.2m | €0.3m | €0.2m | ▼ 34.7% |
| Other financial charges652/9 | - | - | - | €0.05m | €0.07m | €0.06m | €0.04m | €0.08m | ▲ 86.8% |
| Profit (loss) for the period before taxes9903 | €1.7m | €1.6m | €1.0m | €1.3m | €0.7m | €1.0m | €1.4m | €0.2m | ▼ 84.1% |
| Transfer from deferred taxes780 | - | - | - | €0.005m | - | - | - | - | - |
| Income taxes67/77 | €0.4m | €0.5m | €0.3m | €0.3m | €0.1m | €0.2m | €0.2m | €0.07m | ▼ 72.4% |
| Taxes670/3 | - | - | - | €0.3m | €0.2m | €0.3m | €0.4m | €0.08m | ▼ 77.7% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | - | €0.05m | €0.06m | €0.1m | €0.01m | ▼ 89.0% |
| Profit (loss) for the period9904 | €1.3m | €1.1m | €0.7m | €1.0m | €0.5m | €0.8m | €1.2m | €0.2m | ▼ 86.7% |
| Transfer from tax-exempt reserves789 | - | - | - | €0.01m | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €1.3m | €1.1m | €0.8m | €1.0m | €0.5m | €0.8m | €1.2m | €0.2m | ▼ 86.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €11.1m | €11.8m | €12.5m | €14.4m | €16.5m | €18.4m | €20.1m | €14.7m | ▼ 26.9% |
| Fixed assets21/28 | €4.0m | €4.5m | €4.9m | €6.0m | €7.5m | €10.0m | €9.4m | €5.9m | ▼ 37.5% |
| Intangible fixed assets21 | - | - | - | - | - | - | - | €0.1m | - |
| Tangible fixed assets22/27 | €4.0m | €4.5m | €4.9m | €6.0m | €7.1m | €9.6m | €8.8m | €5.8m | ▼ 34.8% |
| Land and buildings22 | - | - | - | €0.6m | €0.5m | €1.7m | €3.2m | €2.7m | ▼ 14.3% |
| Plant, machinery and equipment23 | - | - | - | €1.2m | €1.5m | €1.3m | €1.2m | €1.7m | ▲ 51.2% |
| Furniture and vehicles24 | - | - | - | €0.2m | €0.1m | €0.08m | €0.1m | €0.1m | ▲ 17.3% |
| Leasing and similar rights25 | - | - | - | €4.0m | €5.0m | €6.6m | €4.4m | €1.2m | ▼ 73.6% |
| Financial fixed assets28 | €0.003m | €0.003m | €0.003m | €0.003m | €0.4m | €0.4m | €0.6m | €0.002m | ▼ 99.7% |
| Affiliated companies280/1 | - | - | - | - | €0.4m | €0.4m | €0.6m | - | - |
| Participating interests280 | - | - | - | - | €0.4m | €0.4m | €0.6m | - | - |
| Other financial fixed assets284/8 | - | - | - | €0.003m | €0.003m | €0.004m | €0.004m | €0.002m | ▼ 61.5% |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.003m | €0.003m | €0.004m | €0.004m | €0.002m | ▼ 61.5% |
| Current assets29/58 | €7.1m | €7.3m | €7.6m | €8.4m | €9.0m | €8.4m | €10.6m | €8.8m | ▼ 17.5% |
| Stocks and contracts in progress3 | €0.1m | €0.04m | €0.03m | €0.3m | €0.9m | €0.2m | €2.0m | €1.6m | ▼ 17.2% |
| Stocks30/36 | - | - | - | €0.09m | €0.04m | €0.04m | €0.04m | €0.04m | ▲ 5.0% |
| Goods purchased for resale34 | - | - | - | €0.09m | €0.04m | €0.04m | €0.04m | €0.04m | ▲ 5.0% |
| Contracts in progress37 | - | - | - | €0.2m | €0.8m | €0.2m | €1.9m | €1.6m | ▼ 17.6% |
| Amounts receivable within one year40/41 | €3.3m | €3.5m | €3.0m | €4.7m | €5.2m | €4.3m | €5.7m | €3.9m | ▼ 32.8% |
| Trade receivables40 | - | - | - | €4.4m | €3.2m | €2.6m | €3.9m | €3.4m | ▼ 12.9% |
| Other amounts receivable41 | - | - | - | €0.4m | €2.0m | €1.7m | €1.8m | €0.4m | ▼ 75.8% |
| Current investments50/53 | - | - | - | - | - | - | - | €0.3m | - |
| Other investments51/53 | - | - | - | - | - | - | - | €0.3m | - |
| Cash at bank and in hand54/58 | €2.1m | €3.3m | €3.7m | €3.2m | €2.8m | €3.8m | €2.8m | €2.9m | ▲ 3.6% |
| Deferred charges and accrued income490/1 | - | - | - | €0.1m | €0.2m | €0.1m | €0.1m | €0.1m | ▼ 26.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €11.1m | €11.8m | €12.5m | €14.4m | €16.5m | €18.4m | €20.1m | €14.7m | ▼ 26.9% |
| Equity10/15 | €5.6m | €6.2m | €6.9m | €7.9m | €8.5m | €9.3m | €9.4m | €6.4m | ▼ 32.7% |
| Contributions10/11 | €0.04m | - | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.03m | ▼ 23.7% |
| Contributions outside capital11 | - | - | - | €0.04m | €0.04m | €0.04m | - | - | - |
| Other1109/19 | - | - | - | €0.04m | €0.04m | €0.04m | - | - | - |
| Reserves13 | €5.6m | €6.2m | €6.9m | €7.9m | €8.4m | €9.2m | €9.4m | €6.3m | ▼ 32.7% |
| Tax-exempt reserves132 | - | - | - | €3.6m | €3.6m | €3.6m | €3.6m | €2.7m | ▼ 23.7% |
| Distributable reserves133 | - | - | - | €4.3m | €4.8m | €5.6m | €5.8m | €3.6m | ▼ 38.3% |
| Provisions and deferred taxes16 | €0.01m | €0.009m | €0.005m | - | - | - | - | - | - |
| Amounts payable17/49 | €5.5m | €5.5m | €5.6m | €6.5m | €8.1m | €9.2m | €10.6m | €8.3m | ▼ 21.8% |
| Amounts payable after more than one year17 | €2.3m | €2.3m | €2.7m | €3.4m | €4.2m | €5.4m | €6.2m | €4.0m | ▼ 35.6% |
| Financial debts170/4 | - | - | - | €3.4m | €4.2m | €5.4m | €6.2m | €4.0m | ▼ 35.6% |
| Leasing and similar obligations172 | - | - | - | €2.4m | €3.4m | €4.9m | €3.3m | €1.0m | ▼ 69.3% |
| Credit institutions173 | - | - | - | €0.9m | €0.7m | €0.4m | €2.9m | €3.0m | ▲ 3.4% |
| Amounts payable within one year42/48 | €3.2m | €3.2m | €2.9m | €3.1m | €3.9m | €3.8m | €4.4m | €4.3m | ▼ 2.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €1.5m | €1.9m | €2.1m | €2.0m | €1.1m | ▼ 46.1% |
| Financial debts43 | - | - | - | - | €0.2m | €0.1m | €0.1m | €0.1m | ▼ 0.5% |
| Credit institutions430/8 | - | - | - | - | €0.2m | €0.1m | €0.1m | €0.1m | ▼ 0.5% |
| Trade debts44 | €1.0m | €1.2m | €1.4m | €1.4m | €1.7m | €1.5m | €2.0m | €1.9m | ▼ 5.4% |
| Suppliers440/4 | - | - | - | €1.4m | €1.7m | €1.5m | €2.0m | €1.9m | ▼ 5.4% |
| Taxes, remuneration and social security45 | - | - | - | €0.2m | €0.2m | €0.1m | €0.2m | €0.1m | ▼ 52.0% |
| Taxes450/3 | - | - | - | €0.06m | €0.01m | €0.01m | €0.07m | €0.01m | ▼ 84.9% |
| Remuneration and social security454/9 | - | - | - | €0.2m | €0.1m | €0.1m | €0.1m | €0.09m | ▼ 35.1% |
| Other amounts payable47/48 | - | - | - | €0.001m | €0.003m | €0.007m | €0.2m | €1.2m | ▲ 555% |
| Accrued charges and deferred income492/3 | - | - | - | €0.05m | €0.01m | €0.02m | €0.02m | €0.03m | ▲ 14.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.3m | €1.1m | €0.7m | €1.0m | €0.5m | €0.8m | €1.2m | €0.2m | ▼ 86.7% |
| + Depreciation and write-downs630 | €1.1m | €1.3m | €1.4m | €1.7m | €2.3m | €2.5m | €2.8m | €1.9m | ▼ 32.4% |
| Operating cash flow (approximation) | €2.5m | €2.4m | €2.1m | €2.7m | €2.8m | €3.3m | €4.0m | €2.1m | ▼ 48.2% |
| Investment in fixed assets (approximation) | - | -€1.8m | -€1.7m | -€2.8m | -€3.8m | -€5.0m | -€2.2m | €1.6m | - |
| Change in cash | - | €1.2m | €0.3m | -€0.4m | -€0.4m | €1.0m | -€1.0m | €0.1m | - |
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 |
|---|---|---|---|---|
| 31-03-2026 | full format | 28-08-2026 | 2026-00445406 | NBB |
| 31-03-2025 | full format | 25-08-2025 | 2025-00406190 | |
| 31-03-2024 | full format | 03-12-2024 | 2024-00610602 | |
| 31-03-2023 | full format | 18-09-2023 | 2023-00449009 | |
| 31-03-2022 | full format | 13-07-2022 | 2022-20195926 | |
| 31-03-2021 | full format | 01-07-2021 | 2021-28700190 | |
| 31-03-2020 | full format | 25-08-2020 | 2020-45100508 | |
| 28-02-2019 | abbreviated format | 24-06-2019 | 2019-22400221 | |
| 28-02-2018 | abbreviated format | 17-05-2018 | 2018-13500366 | |
| 31-03-2016 | abbreviated format | 16-06-2016 | 2016-18900322 |