DEMAS
ActiveSummary
DEMAS has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €744,179 and a net result of €32,630. Equity is growing by ~10.2% per year across the filed fiscal years. Its solvency ranks better than 72% of 32023 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▼-9
Solvency100▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60,000 at 30 days acceptable
Liquidity ample (current ratio 1.57 against 1.34 in 2024; short-term debt: 23.5% and cash: 5.5% of total assets), and 23.5% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
76.5%
Return on assets
3.4%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-05-2026, 71 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
71 d early
2024
72 d early
2023
48 d early
2022
73 d early
2021
81 d early
2020
80 d early
2019
28 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 65 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 20 May (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€744,179▲ 4.6%
2024 · €711,550
Total assets
€972,883▲ 1.4%
2024 · €959,922
Net result
€32,630▼ 49.7%
2024 · €64,833
Working capital
€130,068▲ 54.9%
2024 · €83,991
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€41,430▲ 35.4%€225,743▲ 445%-€3,873€109,132€64,667▼ 40.7%
Net result€39,292within the sector's middle half▲ 35.0%€171,587above the sector's middle half▲ 337%-€12,738below the sector's middle half€64,833within the sector's middle half€32,630within the sector's middle half▼ 49.7%
Equity€487,868above the sector's middle half▲ 8.8%€659,455above the sector's middle half▲ 35.2%€646,717above the sector's middle half▼ 1.9%€711,550above the sector's middle half▲ 10.0%€744,179above the sector's middle half▲ 4.6%
Total assets€737,058above the sector's middle half▲ 3.8%€979,732above the sector's middle half▲ 32.9%€886,121above the sector's middle half▼ 9.6%€959,922above the sector's middle half▲ 8.3%€972,883above the sector's middle half▲ 1.4%
Debt€249,189▼ 4.7%€320,277▲ 28.5%€239,404▼ 25.3%€248,373▲ 3.7%€228,704▼ 7.9%
Working capital-€91,174below the sector's middle half▲ 23.1%€64,539within the sector's middle half€36,938within the sector's middle half▼ 42.8%€83,991within the sector's middle half▲ 127%€130,068within the sector's middle half▲ 54.9%
Solvency66.2%within the sector's middle half▲ 3.0pp67.3%within the sector's middle half▲ 1.1pp73.0%within the sector's middle half▲ 5.7pp74.1%within the sector's middle half▲ 1.1pp76.5%within the sector's middle half▲ 2.4pp
Current ratio0.59below the sector's middle half▲ 0.141.22within the sector's middle half▲ 0.631.16within the sector's middle half▼ 0.051.34within the sector's middle half▲ 0.181.57within the sector's middle half▲ 0.23
Return on assets (ROA)5.3%within the sector's middle half▲ 1.2pp17.5%within the sector's middle half▲ 12.2pp-1.4%below the sector's middle half▼ 19.0pp6.8%within the sector's middle half▲ 8.2pp3.4%within the sector's middle half▼ 3.4pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 41% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €972,883
Fixed assets
€614,112 ▼ 2.2%
Current assets
€358,771 ▲ 8.1%
Equity and liabilities €972,883
Equity
€744,179 ▲ 4.6%
Debt
€228,704 ▼ 7.9%
Debt's share of the balance-sheet total falls from 25.9% to 23.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€79,694▼
2024 · €120,217
Cash flow
€47,657▼
2024 · €75,917
Debt to equity
0.31▼
2024 · 0.35
ROE
4.4%▼
2024 · 9.1%
Interest coverage
5.43▼
2024 · 7.22
Debt ≤ 1 year
€228,704▼
2024 · €248,015
Income taxes
€22,308▼
2024 · €33,560
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,732 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 14,732 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | -€0 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,583 | €7,509 | €9,715 | €11,084 | €15,027 | ▲ 35.6% |
| Other operating charges640/8 | €3,659 | €3,951 | €4,418 | €5,267 | €4,780 | ▼ 9.2% |
| Gross operating margin9900 | €53,672 | €237,203 | €10,260 | €125,484 | €84,474 | ▼ 32.7% |
| Operating profit (loss)9901 | €41,430 | €225,743 | -€3,873 | €109,132 | €64,667 | ▼ 40.7% |
| Financial income75/76B | €0 | €68 | €3,476 | €5,916 | €4,943 | ▼ 16.4% |
| Recurring financial income75 | €0 | €68 | €3,476 | €5,916 | €4,943 | ▼ 16.4% |
| Financial charges65/66B | €2,139 | €9,328 | €12,342 | €16,656 | €14,672 | ▼ 11.9% |
| Recurring financial charges65 | €2,139 | €9,328 | €12,342 | €16,656 | €14,672 | ▼ 11.9% |
| Profit (loss) for the period before taxes9903 | €39,292 | €216,483 | -€12,738 | €98,393 | €54,938 | ▼ 44.2% |
| Income taxes67/77 | - | €44,896 | - | €33,560 | €22,308 | ▼ 33.5% |
| Profit (loss) for the period9904 | €39,292 | €171,587 | -€12,738 | €64,833 | €32,630 | ▼ 49.7% |
| Profit (loss) for the period to be appropriated9905 | €39,292 | €171,587 | -€12,738 | €64,833 | €32,630 | ▼ 49.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €737,058 | €979,732 | €886,121 | €959,922 | €972,883 | ▲ 1.4% |
| Fixed assets21/28 | €608,441 | €616,226 | €621,151 | €627,916 | €614,112 | ▼ 2.2% |
| Tangible fixed assets22/27 | €608,441 | €616,226 | €621,151 | €627,916 | €614,112 | ▼ 2.2% |
| Land and buildings22 | €607,741 | €612,316 | €617,931 | €609,162 | €600,414 | ▼ 1.4% |
| Furniture and vehicles24 | €700 | €3,911 | €3,220 | €18,754 | €13,698 | ▼ 27.0% |
| Current assets29/58 | €128,617 | €363,505 | €264,970 | €332,006 | €358,771 | ▲ 8.1% |
| Amounts receivable within one year40/41 | €3,058 | €8,734 | €55,172 | €34,497 | €23,901 | ▼ 30.7% |
| Trade receivables40 | €3,025 | €3,630 | €29,079 | €34,497 | €23,898 | ▼ 30.7% |
| Other amounts receivable41 | €33 | €5,104 | €26,093 | - | €3 | - |
| Current investments50/53 | - | - | €200,000 | €250,000 | €280,000 | ▲ 12.0% |
| Cash at bank and in hand54/58 | €122,244 | €350,263 | €5,852 | €44,612 | €53,037 | ▲ 18.9% |
| Deferred charges and accrued income490/1 | €3,314 | €4,509 | €3,946 | €2,897 | €1,833 | ▼ 36.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €737,058 | €979,732 | €886,121 | €959,922 | €972,883 | ▲ 1.4% |
| Equity10/15 | €487,868 | €659,455 | €646,717 | €711,550 | €744,179 | ▲ 4.6% |
| Contributions10/11 | €86,000 | €86,000 | €86,000 | €86,000 | €86,000 | = |
| Capital10 | €86,000 | €86,000 | €86,000 | €86,000 | €86,000 | = |
| Issued capital100 | €86,000 | €86,000 | €86,000 | €86,000 | €86,000 | = |
| Revaluation surpluses12 | €494,831 | €494,831 | €494,831 | €494,831 | €494,831 | = |
| Reserves13 | €3,201 | €78,624 | €65,886 | €130,719 | €163,349 | ▲ 25.0% |
| Non-distributable reserves130/1 | - | €8,600 | €8,600 | €8,600 | €8,600 | = |
| Legal reserve130 | - | €8,600 | €8,600 | €8,600 | €8,600 | = |
| Distributable reserves133 | €3,201 | €70,024 | €57,286 | €122,119 | €154,749 | ▲ 26.7% |
| Profit (loss) carried forward14 | -€96,163 | - | - | - | - | - |
| Amounts payable17/49 | €249,189 | €320,277 | €239,404 | €248,373 | €228,704 | ▼ 7.9% |
| Amounts payable after more than one year17 | €29,343 | €13,430 | - | - | - | - |
| Financial debts170/4 | €29,343 | €13,430 | - | - | - | - |
| Amounts payable within one year42/48 | €219,791 | €298,966 | €228,032 | €248,015 | €228,704 | ▼ 7.8% |
| Current portion of amounts payable after more than one year42 | €18,938 | €17,230 | €14,764 | - | - | - |
| Trade debts44 | €1,183 | €26,689 | €2,206 | €5,962 | €2,187 | ▼ 63.3% |
| Suppliers440/4 | €1,183 | €26,689 | €2,206 | €5,962 | €2,187 | ▼ 63.3% |
| Taxes, remuneration and social security45 | €10,317 | €58,953 | €9,014 | €23,396 | €22,635 | ▼ 3.3% |
| Taxes450/3 | €9,317 | €57,553 | €7,614 | €21,996 | €22,635 | ▲ 2.9% |
| Remuneration and social security454/9 | €1,000 | €1,400 | €1,400 | €1,400 | - | - |
| Other amounts payable47/48 | €189,353 | €196,094 | €202,047 | €218,657 | €203,882 | ▼ 6.8% |
| Accrued charges and deferred income492/3 | €55 | €7,880 | €11,372 | €357 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €39,292 | €171,587 | -€12,738 | €64,833 | €32,630 | ▼ 49.7% |
| + Depreciation and write-downs630 | €8,583 | €7,509 | €9,715 | €11,084 | €15,027 | ▲ 35.6% |
| Operating cash flow (approximation) | €47,875 | €179,096 | -€3,023 | €75,917 | €47,657 | ▼ 37.2% |
| Investment in fixed assets (approximation) | - | -€15,294 | -€14,640 | -€17,849 | -€1,223 | ▲ 93.1% |
| Change in cash | - | €228,019 | -€344,411 | €38,760 | €8,425 | ▼ 78.3% |
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
Next filing, fiscal year 2026, expected by
2026
13-07
State Gazette act
Statutes amendment · MiscellaneousTransfer restriction · Power of attorney4 facts ▸
State Gazette act
Statutes amendment · Miscellaneous
Transfer restriction · Power of attorney4 facts ▸
- Transfer restriction, 12, EERSTE BESLUIT
- Statutes amendment, 21
- Power of attorney, Dominique Hendryckx
- Power of attorney
21-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
20-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €64,833
Net result €64,833 after one loss-making year.
13-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€12,738
Net result drops to -€12,738, the lowest in the series; recovery starts the following year.
19-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €171,587 ▲337%
Operating result €225,743, net result €171,587, both a record.
31-12
Financial
Liquidity doublescurrent ratio 1.22
Current ratio from 0.59 to 1.22.
31-12
Financial
Equity above €500,000Eq €659,455 ▲35.2%
5 profitable years in a row build equity to €659,455.
11-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
12-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Show earlier events
2020
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
21-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
14-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 7 acts read
About the unread acts
Of the 7 Belgian State Gazette acts we know for this company, 1 has been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
7 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Moorslede · 1 establishment unit since 1989
Ground area
2,195 m²
Building footprint
367 m²
Volume, LiDAR
1,845 m³
Parcel 36003A0545/00K004, Flanders · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Industrielaan 1, 8890 Moorslede
since 19892.042.160.103
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36003A0545/00K004 | Flanders | 2,195 m² | 1 · 367 m² | 7.9 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.
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Of 82,641 companies in sector 70200 we hold annual accounts for 52,636. 31,003 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded09-11-1988
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0435782396
Also
9925:BE0435782396
Registered
27-01-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.