DEIU
ActiveFinancials · financial year 2026, micro format
Annual accounts 2026 filed on 08-10-2026 at the NBB all 5 filings
Turnover
≈ €420,000
Estimated: probably between €290,000 and €720,000
Total assets
€186,187▲ 37.4%
2025 · €135,525
Net result
€25,988▲ 13.9%
2025 · €22,819
Working capital
€13,173▼ 2.0%
2025 · €13,446
Multi-year overview
2022 to 2026, 5 financial yearsOperating result
€40,457
▲ 30.7%
2026
20222026
Net result
€25,988
▲ 13.9%
2026
20222026
Equity
€58,813
▼ 4.2%
2026
20222026
Total assets
€186,187
▲ 37.4%
2026
20222026
Debt
€127,374
▲ 71.8%
2026
20222026
Working capital
€13,173
▼ 2.0%
2026
20222026
Solvency
31.6%
▼ 13.7pp
2026
20222026
Current ratio
1.13
▼ 0.09
2026
20222026
Return on assets (ROA)
14.0%
▼ 2.9pp
2026
20222026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20222023202420252026
Operating result€32,559-€30,374▼ 6.7%€44,960▲ 48.0%€30,950▼ 31.2%€40,457▲ 30.7%
Net result€25,849within the sector's middle half-€21,043within the sector's middle half▼ 18.6%€32,686above the sector's middle half▲ 55.3%€22,819within the sector's middle half▼ 30.2%€25,988▲ 13.9%
Equity€30,849within the sector's middle half-€51,893within the sector's middle half▲ 68.2%€84,578within the sector's middle half▲ 63.0%€61,397within the sector's middle half▼ 27.4%€58,813▼ 4.2%
Total assets€53,724below the sector's middle half-€90,624within the sector's middle half▲ 68.7%€135,160within the sector's middle half▲ 49.1%€135,525within the sector's middle half▲ 0.3%€186,187▲ 37.4%
Debt€22,875-€38,731▲ 69.3%€50,582▲ 30.6%€74,128▲ 46.6%€127,374▲ 71.8%
Working capital€10,394within the sector's middle half-€15,633within the sector's middle half▲ 50.4%€29,939within the sector's middle half▲ 91.5%€13,446within the sector's middle half▼ 55.1%€13,173▼ 2.0%
Solvency57.4%within the sector's middle half-57.3%within the sector's middle half▼ 0.2pp62.6%within the sector's middle half▲ 5.3pp45.3%within the sector's middle half▼ 17.3pp31.6%▼ 13.7pp
Current ratio1.45within the sector's middle half-1.40within the sector's middle half▼ 0.051.59within the sector's middle half▲ 0.191.22within the sector's middle half▼ 0.371.13▼ 0.09
Return on assets (ROA)48.1%above the sector's middle half-23.2%above the sector's middle half▼ 24.9pp24.2%above the sector's middle half▲ 1.0pp16.8%within the sector's middle half▼ 7.3pp14.0%▼ 2.9pp
above
within
below
The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). 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 2026 is 31% higher than in 2025. It is a recovery after the fall in 2025.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €186,187
Fixed assets
€71,674 ▲ 15.8%
Current assets
€114,513 ▲ 55.6%
Equity and liabilities €186,187
Equity
€58,813 ▼ 4.2%
Debt
€127,374 ▲ 71.8%
Debt's share of the balance-sheet total rises from 54.7% to 68.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€73,970▲
2025 · €55,174
Cash flow
€59,502▲
2025 · €47,043
Debt to equity
2.17▲
2025 · 1.21
ROE
44.2%▲
2025 · 37.2%
Interest coverage
15.90▼
2025 · 34.81
Debt ≤ 1 year
€101,341▲
2025 · €60,162
Debt > 1 year
€26,033▲
2025 · €13,966
Income taxes
€9,829▲
2025 · €6,596
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Overdue debts
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Overdue tax debts | - | - | - | €18,243 | €6,363 |
Source: notes to the 2022 to 2026 annual accounts (statement of debts)
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €29,512 | €37,542 | €34,152 | €33,480 | €45,194 |
| Depreciation and write-downs of the year | €9,057 | €9,055 | €15,773 | €24,224 | €33,514 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €404 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,057 | €9,055 | €15,773 | €24,224 | €33,514 | ▲ 38.3% |
| Other operating charges640/8 | €831 | €4,436 | €3,185 | €4,852 | €6,056 | ▲ 24.8% |
| Gross operating margin9900 | €42,447 | €43,865 | €63,918 | €60,430 | €80,026 | ▲ 32.4% |
| Operating profit (loss)9901 | €32,559 | €30,374 | €44,960 | €30,950 | €40,457 | ▲ 30.7% |
| Financial income75/76B | €23 | €25 | €44 | €50 | €13 | ▼ 74.4% |
| Recurring financial income75 | €23 | €25 | €44 | €50 | €13 | ▼ 74.4% |
| Financial charges65/66B | €145 | €1,925 | €4,003 | €1,585 | €4,653 | ▲ 194% |
| Recurring financial charges65 | €145 | €1,925 | €4,003 | €1,585 | €4,653 | ▲ 194% |
| Profit (loss) for the period before taxes9903 | €32,438 | €28,474 | €41,001 | €29,415 | €35,817 | ▲ 21.8% |
| Income taxes67/77 | €6,589 | €7,431 | €8,315 | €6,596 | €9,829 | ▲ 49.0% |
| Profit (loss) for the period9904 | €25,849 | €21,043 | €32,686 | €22,819 | €25,988 | ▲ 13.9% |
| Profit (loss) for the period to be appropriated9905 | €25,849 | €21,043 | €32,686 | €22,819 | €25,988 | ▲ 13.9% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €53,724 | €90,624 | €135,160 | €135,525 | €186,187 | ▲ 37.4% |
| Fixed assets21/28 | €20,455 | €36,260 | €54,639 | €61,917 | €71,674 | ▲ 15.8% |
| Tangible fixed assets22/27 | €20,455 | €36,260 | €54,639 | €61,917 | €71,674 | ▲ 15.8% |
| Plant, machinery and equipment23 | €6,923 | €9,563 | €14,914 | €4,936 | €7,457 | ▲ 51.1% |
| Furniture and vehicles24 | €13,533 | €26,697 | €39,725 | €56,981 | €64,217 | ▲ 12.7% |
| Current assets29/58 | €33,269 | €54,364 | €80,521 | €73,608 | €114,513 | ▲ 55.6% |
| Amounts receivable within one year40/41 | €21,730 | €43,670 | €76,574 | €67,871 | €102,267 | ▲ 50.7% |
| Trade receivables40 | - | €28,766 | €39,863 | €19,730 | €23,642 | ▲ 19.8% |
| Other amounts receivable41 | €21,730 | €14,904 | €36,711 | €48,141 | €78,624 | ▲ 63.3% |
| Cash at bank and in hand54/58 | €11,539 | €9,379 | €3,947 | €5,737 | €12,247 | ▲ 113% |
| Deferred charges and accrued income490/1 | - | €1,315 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €53,724 | €90,624 | €135,160 | €135,525 | €186,187 | ▲ 37.4% |
| Equity10/15 | €30,849 | €51,893 | €84,578 | €61,397 | €58,813 | ▼ 4.2% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Contributions outside capital11 | €5,000 | - | - | - | - | - |
| Other1109/19 | €5,000 | - | - | - | - | - |
| Profit (loss) carried forward14 | €25,849 | €46,893 | €79,578 | €56,397 | €53,813 | ▼ 4.6% |
| Amounts payable17/49 | €22,875 | €38,731 | €50,582 | €74,128 | €127,374 | ▲ 71.8% |
| Amounts payable after more than one year17 | - | - | - | €13,966 | €26,033 | ▲ 86.4% |
| Financial debts170/4 | - | - | - | €13,966 | €26,033 | ▲ 86.4% |
| Amounts payable within one year42/48 | €22,875 | €38,731 | €50,582 | €60,162 | €101,341 | ▲ 68.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €6,513 | €19,361 | ▲ 197% |
| Trade debts44 | €6,736 | €25,711 | €21,722 | €22,809 | €43,317 | ▲ 89.9% |
| Suppliers440/4 | €6,736 | €25,711 | €21,722 | €22,809 | €43,317 | ▲ 89.9% |
| Taxes, remuneration and social security45 | €16,139 | €13,020 | €28,860 | €30,840 | €38,663 | ▲ 25.4% |
| Taxes450/3 | €5,589 | €13,020 | €6,815 | €30,840 | €33,452 | ▲ 8.5% |
| Remuneration and social security454/9 | €10,550 | - | €22,045 | - | €5,211 | - |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25,849 | €21,043 | €32,686 | €22,819 | €25,988 | ▲ 13.9% |
| + Depreciation and write-downs630 | €9,057 | €9,055 | €15,773 | €24,224 | €33,514 | ▲ 38.3% |
| Operating cash flow (approximation) | €34,906 | €30,098 | €48,458 | €47,043 | €59,502 | ▲ 26.5% |
| Investment in fixed assets (approximation) | - | -€24,860 | -€34,152 | -€31,502 | -€43,271 | ▼ 37.4% |
| Change in cash | - | -€2,160 | -€5,432 | €1,790 | €6,510 | ▲ 264% |
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, 26,972 companies had the same profile as DEIU has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
94.9%
was still going
3.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of DEIU itself is higher: 2.1% within 12 months. It rests on far more data about DEIU than the profile alone.
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 26,972 companies, not a prediction for DEIU. 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.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 08-10-2026 | 2026-00551680 | |
| 31-03-2025 | micro format | 23-10-2025 | 2025-00548187 | |
| 31-03-2024 | micro format | 31-10-2024 | 2024-00523999 | |
| 31-03-2023 | micro format | 30-10-2023 | 2023-00501041 | |
| 31-03-2022 | micro format | 21-09-2022 | 2022-20432840 |