DEGROVAN
ActiveSummary
DEGROVAN has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €436,009 and a net result of €9,890. Equity is growing by ~13% per year across the filed fiscal years. Its solvency ranks better than 19% of 7461 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability41▲+4
Solvency45▲+2
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €23,000 at 30 days acceptable
Liquidity tight (current ratio 1.04 against 1.04 in 2023; short-term debt: 30.1% and cash: 1.3% of total assets), and 80.5% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 7461 sector peers (2024).
NBB · sector comparisonPosition among 7461 sector peers
Solvency
better than 19%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-07-2025, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
1 d early
2023
30 d late
2022
31 d late
2021
22 d late
2020
75 d early
2019
87 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 16 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€436,009▲ 2.3%
2023 · €426,118
Total assets
€2.2m▼ 6.4%
2023 · €2.4m
Net result
€9,890
2023 · -€18,024
Working capital
€26,888▲ 5.3%
2023 · €25,534
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€63,126▲ 17.4%€109,307▲ 73.2%€214,889▲ 96.6%€47,451▼ 77.9%€80,764▲ 70.2%
Net result€28,305within the sector's middle half▲ 277%€65,092within the sector's middle half▲ 130%€132,605above the sector's middle half▲ 104%-€18,024below the sector's middle half€9,890within the sector's middle half
Equity€262,445within the sector's middle half▲ 12.1%€311,537within the sector's middle half▲ 18.7%€444,142within the sector's middle half▲ 42.6%€426,118within the sector's middle half▼ 4.1%€436,009within the sector's middle half▲ 2.3%
Total assets€1.2mwithin the sector's middle half▼ 6.3%€1.2mwithin the sector's middle half▲ 0.8%€1.9mabove the sector's middle half▲ 59.2%€2.4mabove the sector's middle half▲ 25.4%€2.2mabove the sector's middle half▼ 6.4%
Debt€923,724▼ 10.5%€884,473▼ 4.2%€1.5m▲ 65.0%€2.0m▲ 34.3%€1.8m▼ 8.3%
Working capital€156,956within the sector's middle half▲ 184%€162,552within the sector's middle half▲ 3.6%€14,956below the sector's middle half▼ 90.8%€25,534below the sector's middle half▲ 70.7%€26,888below the sector's middle half▲ 5.3%
Solvency22.1%within the sector's middle half▲ 3.6pp26.0%within the sector's middle half▲ 3.9pp23.3%within the sector's middle half▼ 2.7pp17.9%below the sector's middle half▼ 5.5pp19.5%below the sector's middle half▲ 1.7pp
Current ratio1.35within the sector's middle half▲ 0.241.49within the sector's middle half▲ 0.141.03below the sector's middle half▼ 0.461.04below the sector's middle half=1.04below the sector's middle half=
Return on assets (ROA)2.4%within the sector's middle half▲ 1.8pp5.4%within the sector's middle half▲ 3.1pp7.0%within the sector's middle half▲ 1.5pp-0.8%below the sector's middle half▼ 7.7pp0.4%below the sector's middle half▲ 1.2pp
Staff (FTE)10.3within the sector's middle half=8.9within the sector's middle half▼ 13.6%10.3within the sector's middle half▲ 15.7%11.2above the sector's middle half▲ 8.7%10.2above the sector's middle half▼ 8.9%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 70% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.2m
Fixed assets
€1.5m ▼ 6.8%
Current assets
€698,265 ▼ 5.6%
Equity and liabilities €2.2m
Equity
€436,009 ▲ 2.3%
Debt
€1.8m ▼ 8.3%
Debt's share of the balance-sheet total falls from 82.1% to 80.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€208,595▲
2023 · €159,735
Cash flow
€137,722▲
2023 · €94,260
Quick ratio
0.89▲
2023 · 0.89
Debt to equity
4.12▼
2023 · 4.60
ROE
2.3%▲
2023 · -4.2%
Interest coverage
2.63▲
2023 · 2.35
Debt ≤ 1 year
€671,378▼
2023 · €713,953
Debt > 1 year
€1.1m▼
2023 · €1.2m
Income taxes
€2,667▼
2023 · €4,813
Staff costs
€526,831▼
2023 · €633,178
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,678 companies that looked in July 2024 the way this one looks now, 0.9% went bankrupt within 24 months and 97% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
0.9%
went bankrupt
1.9%
stopped otherwise
97%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 4,678 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €157,027 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | €520,679 | €544,224 | €633,178 | €526,831 | ▼ 16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €148,147 | €149,169 | €95,506 | €112,284 | €127,831 | ▲ 13.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €22,675 | €0 | ▼ 100% |
| Other operating charges640/8 | - | €14,131 | €10,015 | €33,344 | €22,267 | ▼ 33.2% |
| Non-recurring operating charges66A | - | - | €738 | €0 | - | - |
| Gross operating margin9900 | €735,761 | €793,287 | €865,371 | €848,932 | €757,693 | ▼ 10.7% |
| Operating profit (loss)9901 | €63,126 | €109,307 | €214,889 | €47,451 | €80,764 | ▲ 70.2% |
| Financial income75/76B | - | €497 | €2,150 | €7,305 | €11,219 | ▲ 53.6% |
| Recurring financial income75 | €1,770 | €497 | €2,150 | €7,305 | €11,219 | ▲ 53.6% |
| Financial charges65/66B | - | €42,809 | €76,528 | €67,966 | €79,425 | ▲ 16.9% |
| Recurring financial charges65 | €36,591 | €42,809 | €49,679 | €67,966 | €79,425 | ▲ 16.9% |
| Non-recurring financial charges66B | - | - | €26,849 | €0 | - | - |
| Profit (loss) for the period before taxes9903 | €28,305 | €66,995 | €140,511 | -€13,210 | €12,557 | ▲ 195% |
| Income taxes67/77 | - | €1,902 | €7,906 | €4,813 | €2,667 | ▼ 44.6% |
| Profit (loss) for the period9904 | €28,305 | €65,092 | €132,605 | -€18,024 | €9,890 | ▲ 155% |
| Profit (loss) for the period to be appropriated9905 | €28,305 | €65,092 | €132,605 | -€18,024 | €9,890 | ▲ 155% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €1.2m | €1.9m | €2.4m | €2.2m | ▼ 6.4% |
| Fixed assets21/28 | €574,570 | €701,323 | €1.4m | €1.6m | €1.5m | ▼ 6.8% |
| Tangible fixed assets22/27 | €571,649 | €700,341 | €1.4m | €1.6m | €1.5m | ▼ 6.9% |
| Land and buildings22 | - | €334,219 | €325,211 | €1.1m | €1.0m | ▼ 3.7% |
| Plant, machinery and equipment23 | - | €51,178 | €76,967 | €61,945 | €49,941 | ▼ 19.4% |
| Furniture and vehicles24 | - | €41,285 | €18,957 | €51,345 | €46,043 | ▼ 10.3% |
| Leasing and similar rights25 | - | €198,406 | €338,961 | €458,504 | €403,090 | ▼ 12.1% |
| Assets under construction and advance payments27 | - | €75,252 | €679,039 | €0 | - | - |
| Financial fixed assets28 | €2,921 | €982 | €982 | €2,920 | €3,374 | ▲ 15.6% |
| Current assets29/58 | €611,598 | €494,687 | €463,505 | €739,488 | €698,265 | ▼ 5.6% |
| Stocks and contracts in progress3 | €74,227 | €94,037 | €116,713 | €102,305 | €97,645 | ▼ 4.6% |
| Stocks30/36 | - | €81,279 | €97,941 | €102,305 | €97,645 | ▼ 4.6% |
| Contracts in progress37 | - | €12,758 | €18,772 | €0 | - | - |
| Amounts receivable within one year40/41 | €479,932 | €372,150 | €312,321 | €600,031 | €554,819 | ▼ 7.5% |
| Trade receivables40 | - | €338,259 | €266,166 | €420,063 | €345,434 | ▼ 17.8% |
| Other amounts receivable41 | - | €33,891 | €46,155 | €179,968 | €209,385 | ▲ 16.3% |
| Cash at bank and in hand54/58 | €4,742 | €478 | €33,297 | €22,598 | €30,114 | ▲ 33.3% |
| Deferred charges and accrued income490/1 | - | €28,023 | €1,174 | €14,553 | €15,688 | ▲ 7.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €1.2m | €1.9m | €2.4m | €2.2m | ▼ 6.4% |
| Equity10/15 | €262,445 | €311,537 | €444,142 | €426,118 | €436,009 | ▲ 2.3% |
| Contributions10/11 | - | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Reserves13 | €162,445 | €211,537 | €344,142 | €326,118 | €336,009 | ▲ 3.0% |
| Non-distributable reserves130/1 | - | €10,000 | €10,000 | €0 | - | - |
| Reserves not available under the articles1311 | - | €10,000 | €10,000 | €0 | - | - |
| Tax-exempt reserves132 | - | €32,000 | €32,000 | €32,000 | €32,000 | = |
| Distributable reserves133 | - | €169,537 | €302,142 | €294,118 | €304,009 | ▲ 3.4% |
| Amounts payable17/49 | €923,724 | €884,473 | €1.5m | €2.0m | €1.8m | ▼ 8.3% |
| Amounts payable after more than one year17 | €465,631 | €551,988 | €1.0m | €1.2m | €1.1m | ▼ 9.9% |
| Financial debts170/4 | - | €551,988 | €1.0m | €1.2m | €1.1m | ▼ 9.9% |
| Amounts payable within one year42/48 | €454,642 | €332,135 | €448,549 | €713,953 | €671,378 | ▼ 6.0% |
| Current portion of amounts payable after more than one year42 | - | €81,754 | €97,169 | €163,469 | €194,690 | ▲ 19.1% |
| Financial debts43 | - | €1,215 | €100,000 | €185,779 | €100,000 | ▼ 46.2% |
| Credit institutions430/8 | - | €1,215 | €100,000 | €185,779 | €100,000 | ▼ 46.2% |
| Trade debts44 | €331,487 | €167,042 | €233,437 | €266,783 | €228,312 | ▼ 14.4% |
| Suppliers440/4 | - | €167,042 | €233,437 | €266,783 | €228,312 | ▼ 14.4% |
| Taxes, remuneration and social security45 | - | €72,624 | €17,943 | €97,887 | €148,166 | ▲ 51.4% |
| Taxes450/3 | - | €7,034 | €5,000 | €16,844 | €13,443 | ▼ 20.2% |
| Remuneration and social security454/9 | - | €65,590 | €12,943 | €81,044 | €134,722 | ▲ 66.2% |
| Other amounts payable47/48 | - | €9,500 | - | €35 | €210 | ▲ 504% |
| Accrued charges and deferred income492/3 | - | €350 | - | €2,415 | €4,207 | ▲ 74.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €28,305 | €65,092 | €132,605 | -€18,024 | €9,890 | ▲ 155% |
| + Depreciation and write-downs630 | €148,147 | €149,169 | €95,506 | €112,284 | €127,831 | ▲ 13.8% |
| Operating cash flow (approximation) | €176,452 | €214,262 | €228,111 | €94,260 | €137,722 | ▲ 46.1% |
| Investment in fixed assets (approximation) | - | -€275,922 | -€834,299 | -€319,227 | -€15,405 | ▲ 95.2% |
| Change in cash | - | -€4,264 | €32,819 | -€10,699 | €7,515 | ▲ 170% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €9,890
Net result €9,890 after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
31-12
Financial
Weakest financial yearnet -€18,024
Net result drops to -€18,024, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
31-12
Financial
Highest result since 2018net €132,605 ▲104%
Operating result €214,889, net result €132,605, both a record.
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 22 days late
2021
17-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
26-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 87 days late
2019
21-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
22-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 22 days late
2017
06-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
08-09
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 39 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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
Registered office, Zwevegem · 1 establishment unit since 2006
Ground area
3,710 m²
Building footprint
1,232 m²
Volume, LiDAR
6,528 m³
Parcel 34030A0973/00N002, Flanders · tallest building 7.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
DEGROVAN
since 20062.151.008.157
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34030A0973/00N002 | Flanders | 3,710 m² | 1 · 1,232 m² | 7.0 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 ownerOwners 1
-
49.75%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 2,782 EUR awarded · 2,381 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,255 EUR | 858 EUR |
| 2024 | 1 | 339 EUR | 339 EUR |
| 2023 | 1 | 900 EUR | 896 EUR |
| 2022 | 1 | 288 EUR | 288 EUR |
Recognitions · licences · registrations
Recognised contractor
19 categoriesDEGROVAN BV#10166
DEGROVAN BV44772
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Of 8,465 companies in sector 43120 we hold annual accounts for 3,233. 2,259 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded29-12-2005
Fiscal year end31-12
Activities, NACEBEL 2025
43120Site preparation
42220Construction of utility projects for electricity and telecommunications
43230Insulation installation
43320Joinery installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0878296990
Also
9925:BE0878296990
Registered
30-08-2023
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.