DEME Dredging
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 27-05-2026 PDF all 3 filings
2023 to 2025, 3 financial years
The operating result for 2025 is 72% lower than in 2024.
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 Civil engineering (NACE 42). 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).
- 2024 Turnover +64%, Staff (FTE) +110% on 2023. Demerger with DREDGING INTERNATIONAL, proposed with effect from 16-05-2023, in the previous financial year. That operation now counts for a full year for the first time.
Staff
| Item | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|
| Employees at the balance-sheet date | 1,303 | 1,378 | 1,420 |
| full-time | 1,206 | 1,267 | 1,310 |
| part-time | 97 | 111 | 110 |
| in full-time equivalents | 1,281.2 | 1,354 | 1,387.6 |
| Average over the year, in full-time equivalents | 622.5 | 1,307.9 | 1,374.1 |
| On a permanent contract | 1,301 | 1,371 | 1,412 |
| Joined | 1,351 | 182 | 177 |
| Left | 48 | 107 | 135 |
| Agency workers, average number | 1.5 | 16.6 | 13.5 |
| Training hours | 36,497 | 40,725 | 60,023 |
Source: social balance sheet in the 2023 to 2025 annual accounts
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €269.7m | €256,573 | €108.9m |
| Financial fixed assets | - | - | €69.6m |
| Depreciation and write-downs of the year | €15.1m | €14.9m | €21.7m |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Auditor
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Fee for the audit | €64,160 | €70,088 | €72,080 |
| Other work by the auditor | €13,500 | €17,000 | €14,000 |
Source: notes to the 2023 to 2025 annual accounts (relations with the auditor)
Subsidies and aid
Flemish government
2024 to 2025 · 3 entries · €190,843 awarded · €55,254 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €179,963 | €44,374 |
| 2024 | 1 | €10,880 | €10,880 |
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.
Comparable companies
This company has the same main activity as DEME Dredging: civil engineering (NACE 42911). It is comparable in size and age: total assets of €2.7bn, founded in 1938.
| Company | Founded | Total assets | Equity | Turnover | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| DEME Dredging Beveren-Kruibeke-Zwijndrecht | 2022 | €575.7m | €226.8m | €608.0m | €6.9m | 1,374.1 | 2025 |
| Jan De Nul Aalst | 1938 | €2,656.9m | €1,418.2m | €1,731.3m | €11.5m | 1,840.7 | 2025 |
It was chosen from the 59 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, 722 companies had the same profile as DEME Dredging has now. Two years later, 0.6% had gone bankrupt and 95.3% were still going.
- Large
- solvency 30% or more
- a profit under 5% of the balance sheet
- without age
That fits the bankruptcy probability of DEME Dredging itself: 0.7% 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 722 companies, not a prediction for DEME Dredging. 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.
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Operating income70/76A | €349.4m | €605.6m | €620.1m | ▲ 2.4% |
| Turnover70 | €341.2m | €561.2m | €608.0m | ▲ 8.3% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | €4.9m | €34.5m | €0.9m | ▼ 97.3% |
| Other operating income74 | €3.2m | €9.9m | €11.1m | ▲ 12.5% |
| Non-recurring operating income76A | €0.03m | €0.009m | €0.03m | ▲ 230% |
| Operating charges60/66A | €359.8m | €574.4m | €611.2m | ▲ 6.4% |
| Goods for resale, raw materials and consumables60 | €180.7m | €249.3m | €262.6m | ▲ 5.3% |
| Purchases600/8 | €181.8m | €249.3m | €262.7m | ▲ 5.4% |
| Change in stocks: decrease (increase)609 | -€1.0m | -€0.03m | -€0.1m | ▼ 237% |
| Services and other goods61 | €74.1m | €122.4m | €128.3m | ▲ 4.8% |
| Remuneration, social security and pensions62 | €89.6m | €180.3m | €194.1m | ▲ 7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15.1m | €14.9m | €21.7m | ▲ 45.3% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | -€0.3m | €6.3m | €3.3m | ▼ 48.3% |
| Other operating charges640/8 | €0.5m | €1.2m | €1.3m | ▲ 9.7% |
| Non-recurring operating charges66A | - | - | €0.002m | - |
| Operating profit (loss)9901 | -€10.4m | €31.2m | €8.9m | ▼ 71.5% |
| Financial income75/76B | €9.4m | €6.3m | €1.0m | ▼ 84.1% |
| Recurring financial income75 | €9.4m | €6.3m | €1.0m | ▼ 84.1% |
| Income from current assets751 | €7.3m | €5.4m | €0.8m | ▼ 85.6% |
| Other financial income752/9 | €2.1m | €0.9m | €0.2m | ▼ 74.9% |
| Financial charges65/66B | €4.3m | €1.7m | €2.5m | ▲ 47.0% |
| Recurring financial charges65 | €4.3m | €1.7m | €2.5m | ▲ 47.0% |
| Debt charges650 | €0.6m | €0.5m | €0.6m | ▲ 9.5% |
| Other financial charges652/9 | €3.6m | €1.2m | €1.9m | ▲ 63.9% |
| Profit (loss) for the period before taxes9903 | -€5.2m | €35.9m | €7.4m | ▼ 79.3% |
| Transfer from deferred taxes780 | €0.06m | €0.06m | €0.06m | = |
| Income taxes67/77 | -€1.2m | €1.2m | €0.6m | ▼ 47.4% |
| Taxes670/3 | €0.01m | €1.2m | €0.6m | ▼ 47.4% |
| Tax adjustments and reversals of tax provisions77 | €1.2m | - | - | - |
| Profit (loss) for the period9904 | -€4.0m | €34.8m | €6.9m | ▼ 80.2% |
| Transfer from tax-exempt reserves789 | €223.1m | €0.2m | €0.2m | = |
| Profit (loss) for the period to be appropriated9905 | €219.1m | €35.0m | €7.1m | ▼ 79.8% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €481.3m | €424.8m | €575.7m | ▲ 35.5% |
| Fixed assets21/28 | €119.7m | €104.6m | €261.0m | ▲ 150% |
| Tangible fixed assets22/27 | €119.7m | €104.6m | €191.5m | ▲ 83.1% |
| Land and buildings22 | €0.02m | - | - | - |
| Plant, machinery and equipment23 | €119.6m | €104.3m | €191.3m | ▲ 83.5% |
| Furniture and vehicles24 | €0.08m | €0.08m | €0.1m | ▲ 37.1% |
| Assets under construction and advance payments27 | - | €0.2m | - | - |
| Financial fixed assets28 | €0.04m | €0.02m | €69.6m | ▲ 4,211× |
| Affiliated companies280/1 | - | - | €69.6m | - |
| Participating interests280 | - | - | €69.6m | - |
| Other financial fixed assets284/8 | €0.04m | €0.02m | €0.01m | ▼ 10.5% |
| Amounts receivable and cash guarantees285/8 | €0.04m | €0.02m | €0.01m | ▼ 10.5% |
| Current assets29/58 | €361.5m | €320.2m | €314.6m | ▼ 1.7% |
| Stocks and contracts in progress3 | €11.9m | €46.5m | €47.5m | ▲ 2.2% |
| Stocks30/36 | €1.1m | €1.1m | €1.2m | ▲ 9.2% |
| Raw materials and consumables30/31 | €1.0m | €1.1m | €1.2m | ▲ 9.3% |
| Advance payments36 | €0.02m | €0.001m | - | - |
| Contracts in progress37 | €10.9m | €45.4m | €46.3m | ▲ 2.0% |
| Amounts receivable within one year40/41 | €335.7m | €264.0m | €247.1m | ▼ 6.4% |
| Trade receivables40 | €120.4m | €173.4m | €239.1m | ▲ 37.9% |
| Other amounts receivable41 | €215.3m | €90.6m | €7.9m | ▼ 91.2% |
| Current investments50/53 | - | €2.6m | €2.8m | ▲ 6.5% |
| Other investments51/53 | - | €2.6m | €2.8m | ▲ 6.5% |
| Cash at bank and in hand54/58 | €13.5m | €5.9m | €16.1m | ▲ 170% |
| Deferred charges and accrued income490/1 | €0.4m | €1.1m | €1.2m | ▲ 5.6% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €481.3m | €424.8m | €575.7m | ▲ 35.5% |
| Equity10/15 | €265.1m | €219.9m | €226.8m | ▲ 3.1% |
| Contributions10/11 | €28.7m | €28.7m | €28.7m | = |
| Capital10 | €28.7m | €28.7m | €28.7m | = |
| Issued capital100 | €28.7m | €28.7m | €28.7m | = |
| Reserves13 | €17.3m | €17.1m | €16.9m | ▼ 1.0% |
| Non-distributable reserves130/1 | €2.9m | €2.9m | €2.9m | ▲ 0.2% |
| Legal reserve130 | €2.9m | €2.9m | €2.9m | ▲ 0.2% |
| Tax-exempt reserves132 | €12.9m | €12.7m | €12.6m | ▼ 1.3% |
| Distributable reserves133 | €1.5m | €1.5m | €1.5m | = |
| Profit (loss) carried forward14 | €219.1m | €174.1m | €181.2m | ▲ 4.1% |
| Provisions and deferred taxes16 | €13.3m | €19.6m | €22.8m | ▲ 16.5% |
| Provisions for liabilities and charges160/5 | €12.8m | €19.2m | €22.4m | ▲ 17.1% |
| Pensions and similar obligations160 | €1.4m | €1.9m | €2.0m | ▲ 0.5% |
| Major repairs and maintenance162 | €6.9m | €12.4m | €14.9m | ▲ 20.0% |
| Other liabilities and charges164/5 | €4.4m | €4.8m | €5.6m | ▲ 16.5% |
| Deferred taxes168 | €0.5m | €0.4m | €0.4m | ▼ 12.8% |
| Amounts payable17/49 | €202.8m | €185.3m | €326.0m | ▲ 76.0% |
| Amounts payable after more than one year17 | €25.4m | - | €91.1m | - |
| Financial debts170/4 | €25.4m | - | €91.1m | - |
| Other loans174 | €25.4m | - | €91.1m | - |
| Amounts payable within one year42/48 | €177.1m | €184.9m | €234.6m | ▲ 26.9% |
| Current portion of amounts payable after more than one year42 | €8.0m | - | €3.2m | - |
| Trade debts44 | €103.0m | €112.4m | €140.0m | ▲ 24.6% |
| Suppliers440/4 | €103.0m | €112.4m | €140.0m | ▲ 24.6% |
| Advances received on contracts in progress46 | €28.7m | €30.0m | €26.9m | ▼ 10.3% |
| Taxes, remuneration and social security45 | €36.1m | €42.5m | €54.5m | ▲ 28.3% |
| Taxes450/3 | €4.4m | €6.2m | €14.9m | ▲ 140% |
| Remuneration and social security454/9 | €31.7m | €36.3m | €39.7m | ▲ 9.2% |
| Other amounts payable47/48 | €1.3m | €0.001m | €10.0m | ▲ 13,540× |
| Accrued charges and deferred income492/3 | €0.4m | €0.4m | €0.3m | ▼ 10.1% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4.0m | €34.8m | €6.9m | ▼ 80.2% |
| + Depreciation and write-downs630 | €15.1m | €14.9m | €21.7m | ▲ 45.3% |
| Operating cash flow (approximation) | €11.1m | €49.7m | €28.6m | ▼ 42.6% |
| Investment in fixed assets (approximation) | - | €0.2m | -€178.1m | - |
| Change in cash | - | -€7.5m | €10.1m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.