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DEMOCO GROUP

Active Risk: not assessed
Public limited companyfounded 200223 yrs activeHerkenrodesingel 4B, 3500 Hasselt, BelgiumKBO/BCE: BE 0479.223.847
Summary

DEMOCO GROUP is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €22.4m and a net result of €549,826. Equity remains stable across the filed fiscal years (±0.4% per year). Its solvency ranks better than 74% of 2451 sector peers (fiscal year 2025). The company has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals.

Checked score

Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit check for your own amount and term

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Signals

1 signal. The signal on the left, the evidence on the right.
○neutral
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 02-07-2026, 29 days ahead of the deadline.
NBB · 5 filings
Deviation from the deadline
2025
29 d early
2024
34 d early
2023
1 d early
2022
3 d late
2021
38 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 5 accounts on average 20 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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 2 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 19 December 2002, DEMOCO GROUP was incorporated.1 Of the 14 current board members, CYGA has served longest, since 2018.2 Total assets went from EUR 28 million in 2018 to EUR 26 million in 2025 and headcount from 31.4 to 37 full-time equivalents.3

  1. 1Crossroads Bank for Enterprises
  2. 2Belgian State Gazette, 25-09-2024
  3. 3National Bank, annual accounts 2018 and 2025

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Financials · fiscal year 2025, full schema, statutory accounts

Equity
€22.4m▲ 2.5%
2024 · €21.8m
Net result
€549,826▲ 3.0%
2024 · €533,669
Total assets
€26.1m▼ 3.1%
2024 · €26.9m
Solvency
85.9%▲ 4.7pp
2024 · 81.2%
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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
Line20212022202320242025
Turnover€13.5m▼ 3.2%€8.8m▼ 35.2%€8.3m▼ 4.8%€9.7m▲ 16.7%€13.0m▲ 33.3%
Operating result€121,430▼ 87.8%€232,229▲ 91.2%€111,033▼ 52.2%€58,128▼ 47.6%€86,233▲ 48.4%
Net result€10.2mabove the sector's middle half▲ 944%€85,089within the sector's middle half▼ 99.2%€94,669within the sector's middle half▲ 11.3%€533,669within the sector's middle half▲ 464%€549,826within the sector's middle half▲ 3.0%
Equity€21.1mabove the sector's middle half▼ 17.4%€21.2mabove the sector's middle half▲ 0.4%€21.3mabove the sector's middle half▲ 0.4%€21.8mabove the sector's middle half▲ 2.5%€22.4mwithin the sector's middle half▲ 2.5%
Total assets€28.5mwithin the sector's middle half▼ 28.3%€25.7mwithin the sector's middle half▼ 9.9%€30.7mwithin the sector's middle half▲ 19.8%€26.9mwithin the sector's middle half▼ 12.5%€26.1mwithin the sector's middle half▼ 3.1%
Debt€7.4m▼ 48.1%€4.4m▼ 39.6%€9.4m▲ 112%€5.1m▼ 46.4%€3.7m▼ 27.4%
Working capital€1.5mwithin the sector's middle half€1.6mwithin the sector's middle half▲ 5.0%€1.7mwithin the sector's middle half▲ 7.8%€1.7mwithin the sector's middle half▼ 1.4%€1.1mwithin the sector's middle half▼ 35.8%
Solvency74.2%within the sector's middle half▲ 9.8pp82.7%within the sector's middle half▲ 8.5pp69.3%within the sector's middle half▼ 13.4pp81.2%within the sector's middle half▲ 11.9pp85.9%within the sector's middle half▲ 4.7pp
Current ratio1.21within the sector's middle half▲ 0.711.36within the sector's middle half▲ 0.151.18within the sector's middle half▼ 0.181.34within the sector's middle half▲ 0.151.30within the sector's middle half▼ 0.04
Return on assets (ROA)35.9%above the sector's middle half▲ 33.4pp0.3%within the sector's middle half▼ 35.5pp0.3%within the sector's middle half=2.0%within the sector's middle half▲ 1.7pp2.1%within the sector's middle half▲ 0.1pp
Staff (FTE)32.6above the sector's middle half▼ 3.3%34.7above the sector's middle half▲ 6.4%34.1above the sector's middle half▼ 1.7%31.9above the sector's middle half▼ 6.5%37above the sector's middle half▲ 16.0%
above within below the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
€0€5.0m€10.0mOperating result 2021: €121,430€121,430Net result 2021: €10.2m€10.2mOperating result 2022: €232,229€232,229Net result 2022: €85,089€85,089Operating result 2023: €111,033€111,033Net result 2023: €94,669€94,669Operating result 2024: €58,128€58,128Net result 2024: €533,669€533,669Operating result 2025: €86,233€86,233Net result 2025: €549,826€549,82620212022202320242025€0€200,000€400,000€600,000Operating result 2023: €111,033€111,000Net result 2023: €94,669€94,700Operating result 2024: €58,128€58,100Net result 2024: €533,669€534,000Operating result 2025: €86,233€86,200Net result 2025: €549,826€550,000202320242025
The operating result recovers in 2025; 2025 is 48% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €26.1m
Fixed assets €21.3m ▲ 5.7%
Current assets €4.8m ▼ 29.5%
Equity and liabilities €26.1m
Equity €22.4m ▲ 2.5%
Debt €3.7m ▼ 27.4%
Debt's share of the balance-sheet total falls from 18.8% to 14.1%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
ROE
2.5%▲
2024 · 2.4%
Debt ≤ 1 year
€3.7m▼
2024 · €5.1m
Income taxes
€17,552▲
2024 · €9,238
Staff costs
€3.9m▲
2024 · €3.4m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 69 lines
Balance sheet Code20242025
Assets
Total assets20/58€26.9m€26.1m▼
Formation expenses20€0€0=
Fixed assets21/28€20.2m€21.3m▲
Intangible fixed assets21€0€24,631▲
Tangible fixed assets22/27€601,369€1.6m▲
Furniture and vehicles24€427,482€752,048▲
Other tangible fixed assets26-€28,144
Assets under construction and advance payments27€173,887€795,179▲
Financial fixed assets28€19.6m€19.7m▲
Affiliated companies280/1€19.6m€19.7m▲
Participating interests280€19.6m€19.7m▲
Current assets29/58€6.7m€4.8m▼
Stocks and contracts in progress3€0-
Contracts in progress37€0-
Amounts receivable within one year40/41€3.0m€2.4m▼
Trade receivables40€1.1m€443,040▼
Other amounts receivable41€1.9m€1.9m▼
Current investments50/53€1.3m€1.3m▲
Other investments51/53€1.3m€1.3m▲
Cash at bank and in hand54/58€2.0m€677,477▼
Deferred charges and accrued income490/1€422,223€386,605▼
Equity and liabilities
Total equity and liabilities10/49€26.9m€26.1m▼
Equity10/15€21.8m€22.4m▲
Contributions10/11€12.5m€12.5m=
Capital10€12.5m€12.5m=
Issued capital100€12.5m€12.5m=
Reserves13€1.3m€1.3m=
Non-distributable reserves130/1€1.3m€1.3m=
Legal reserve130€1.3m€1.3m=
Profit (loss) carried forward14€8.1m€8.6m▲
Amounts payable17/49€5.1m€3.7m▼
Amounts payable within one year42/48€5.1m€3.7m▼
Trade debts44€1.3m€1.3m▲
Suppliers440/4€1.3m€1.3m▲
Taxes, remuneration and social security45€549,922€743,145▲
Taxes450/3€88,700€108,896▲
Remuneration and social security454/9€461,223€634,249▲
Other amounts payable47/48€3.2m€1.6m▼
Income statement Code20242025
Operating income70/76A€9.8m€13.3m▲
Turnover70€9.7m€13.0m▲
Change in stocks of work in progress, finished goods and contracts in progress71-€117,263-
Other operating income74€126,404€309,496▲
Non-recurring operating income76A€34,320€8,517▼
Operating charges60/66A€9.7m€13.2m▲
Goods for resale, raw materials and consumables60-€2.2m
Purchases600/8-€2.2m
Services and other goods61€6.2m€6.8m▲
Remuneration, social security and pensions62€3.4m€3.9m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€67,209€177,407▲
Other operating charges640/8€51,161€54,413▲
Operating profit (loss)9901€58,128€86,233▲
Financial income75/76B€577,936€494,290▼
Recurring financial income75€577,936€494,290▼
Income from financial fixed assets750€570,911€490,486▼
Income from current assets751€2,747€3,313▲
Other financial income752/9€4,278€490▼
Financial charges65/66B€93,157€13,146▼
Recurring financial charges65€20,646€13,146▼
Debt charges650€10,406€8,591▼
Other financial charges652/9€10,240€4,555▼
Non-recurring financial charges66B€72,511-
Profit (loss) for the period before taxes9903€542,907€567,377▲
Income taxes67/77€9,238€17,552▲
Taxes670/3€9,238€17,552▲
Profit (loss) for the period9904€533,669€549,826▲
Profit (loss) for the period to be appropriated9905€533,669€549,826▲
Appropriation of the result
Profit (loss) to be appropriated9906€8.1m€8.6m▲
Profit (loss) brought forward from the previous period14P€7.6m€8.1m▲
Social balance
Average headcount (FTE)908731.937.0▲

The notes to these accounts (65 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Operating income70/76A€13.6m€8.8m€8.6m€9.8m€13.3m▲ 35.9%
Turnover70€13.5m€8.8m€8.3m€9.7m€13.0m▲ 33.3%
Change in stocks of work in progress, finished goods and contracts in progress71--€117,263-€117,263--
Other operating income74€46,771€57,416€160,903€126,404€309,496▲ 145%
Non-recurring operating income76A€11,946€6,889€37,658€34,320€8,517▼ 75.2%
Operating charges60/66A€13.4m€8.6m€8.5m€9.7m€13.2m▲ 35.8%
Goods for resale, raw materials and consumables60€6.1m€637,016€17-€2.2m-
Purchases600/8€6.1m€637,016€17-€2.2m-
Services and other goods61€4.7m€5.1m€5.3m€6.2m€6.8m▲ 9.9%
Remuneration, social security and pensions62€2.6m€2.8m€3.2m€3.4m€3.9m▲ 15.5%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€16,578€19,745€16,504€67,209€177,407▲ 164%
Other operating charges640/8€53,396€74,521€65,931€51,161€54,413▲ 6.4%
Non-recurring operating charges66A-€291----
Operating profit (loss)9901€121,430€232,229€111,033€58,128€86,233▲ 48.4%
Financial income75/76B€12.3m€27,520€13,399€577,936€494,290▼ 14.5%
Recurring financial income75€2.3m€27,520€13,399€577,936€494,290▼ 14.5%
Income from financial fixed assets750€2.2m€1,180€8,972€570,911€490,486▼ 14.1%
Income from current assets751€78,441€23,972€2,339€2,747€3,313▲ 20.6%
Other financial income752/9€1,517€2,368€2,088€4,278€490▼ 88.5%
Non-recurring financial income76B€9.9m-----
Financial charges65/66B€2.2m€170,398€22,741€93,157€13,146▼ 85.9%
Recurring financial charges65€50,498€170,398€22,741€20,646€13,146▼ 36.3%
Debt charges650€20,957€4,823€5,869€10,406€8,591▼ 17.4%
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651-€131,485----
Other financial charges652/9€29,541€34,089€16,872€10,240€4,555▼ 55.5%
Non-recurring financial charges66B€2.1m--€72,511--
Profit (loss) for the period before taxes9903€10.2m€89,351€101,691€542,907€567,377▲ 4.5%
Income taxes67/77€3,328€4,263€7,022€9,238€17,552▲ 90.0%
Taxes670/3€3,328€4,263€7,022€9,238€17,552▲ 90.0%
Profit (loss) for the period9904€10.2m€85,089€94,669€533,669€549,826▲ 3.0%
Profit (loss) for the period to be appropriated9905€10.2m€85,089€94,669€533,669€549,826▲ 3.0%
Line20212022202320242025Change
Assets
Total assets20/58€28.5m€25.7m€30.7m€26.9m€26.1m▼ 3.1%
Formation expenses20--€0€0€0-
Fixed assets21/28€19.6m€19.7m€19.6m€20.2m€21.3m▲ 5.7%
Intangible fixed assets21--€0€0€24,631-
Tangible fixed assets22/27€43,153€32,338€22,455€601,369€1.6m▲ 162%
Furniture and vehicles24€43,153€32,338€22,455€427,482€752,048▲ 75.9%
Other tangible fixed assets26----€28,144-
Assets under construction and advance payments27---€173,887€795,179▲ 357%
Financial fixed assets28€19.6m€19.6m€19.6m€19.6m€19.7m▲ 0.8%
Affiliated companies280/1€19.6m€19.6m€19.6m€19.6m€19.7m▲ 0.8%
Participating interests280€19.6m€19.6m€19.6m€19.6m€19.7m▲ 0.8%
Other financial fixed assets284/8€1,200€1,501----
Amounts receivable and cash guarantees285/8€1,200€1,501----
Current assets29/58€8.9m€6.0m€11.1m€6.7m€4.8m▼ 29.5%
Stocks and contracts in progress3--€117,263€0--
Contracts in progress37--€117,263€0--
Amounts receivable within one year40/41€5.6m€2.8m€7.3m€3.0m€2.4m▼ 21.8%
Trade receivables40€3.2m€737,632€880,347€1.1m€443,040▼ 59.0%
Other amounts receivable41€2.4m€2.0m€6.4m€1.9m€1.9m▼ 1.2%
Current investments50/53€1.3m€1.3m€1.3m€1.3m€1.3m▲ 1.4%
Other investments51/53€1.3m€1.3m€1.3m€1.3m€1.3m▲ 1.4%
Cash at bank and in hand54/58€1.5m€1.5m€2.0m€2.0m€677,477▼ 66.0%
Deferred charges and accrued income490/1€349,141€463,768€393,141€422,223€386,605▼ 8.4%
Equity and liabilities
Total equity and liabilities10/49€28.5m€25.7m€30.7m€26.9m€26.1m▼ 3.1%
Equity10/15€21.1m€21.2m€21.3m€21.8m€22.4m▲ 2.5%
Contributions10/11€12.5m€12.5m€12.5m€12.5m€12.5m=
Capital10€12.5m€12.5m€12.5m€12.5m€12.5m=
Issued capital100€12.5m€12.5m€12.5m€12.5m€12.5m=
Reserves13€1.3m€1.3m€1.3m€1.3m€1.3m=
Non-distributable reserves130/1€1.3m€1.3m€1.3m€1.3m€1.3m=
Legal reserve130€1.3m€1.3m€1.3m€1.3m€1.3m=
Profit (loss) carried forward14€7.4m€7.5m€7.6m€8.1m€8.6m▲ 6.8%
Amounts payable17/49€7.4m€4.4m€9.4m€5.1m€3.7m▼ 27.4%
Amounts payable within one year42/48€7.3m€4.4m€9.4m€5.1m€3.7m▼ 27.4%
Financial debts43€408,909€29,445€0---
Credit institutions430/8€408,909€29,445€0---
Trade debts44€3.3m€1.1m€1.5m€1.3m€1.3m▲ 0.9%
Suppliers440/4€3.3m€1.1m€1.5m€1.3m€1.3m▲ 0.9%
Taxes, remuneration and social security45€520,915€442,189€628,232€549,922€743,145▲ 35.1%
Taxes450/3€70,628€79,341€93,818€88,700€108,896▲ 22.8%
Remuneration and social security454/9€450,287€362,849€534,414€461,223€634,249▲ 37.5%
Other amounts payable47/48€3.1m€2.9m€7.2m€3.2m€1.6m▼ 49.3%
Accrued charges and deferred income492/3€25,634€32,754€51,902---
Line20212022202320242025Change
Profit (loss) for the period9904€10.2m€85,089€94,669€533,669€549,826▲ 3.0%
+ Depreciation and write-downs630€16,578€19,745€16,504€67,209€177,407▲ 164%
Operating cash flow (approximation)€10.2m€104,834€111,173€600,878€727,232▲ 21.0%
Investment in fixed assets (approximation)--€36,382-€5,120-€573,612-€1.3m▼ 133%
Change in cash--€53,046€497,006€15,586-€1.3m▼ 8,524%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
31-08
State Gazette act Reappointments: Sarkri NV, Tiga-R NV and Demot Michel
Permanent representatives: Ronny Houben, Rudy Houben and 5 others24 facts ▸
  • General meeting, 26-06-2026
  • Director reappointment, Sarkri NV (director)
  • Permanent representative, Ronny Houben (permanent representative)
  • Director reappointment, Tiga-R NV (director)
  • Permanent representative, Rudy Houben (permanent representative)
  • Director reappointment, Demot Michel (director)
  • Board composition, TDevelopment BV (director)
  • Permanent representative, Demot Thibaud (permanent representative)
  • Board composition, Rafine BV (director)
  • Permanent representative, Houben Raf (permanent representative)
  • Board composition, Cyga BV (director)
  • Permanent representative, Demot Philip (permanent representative)
  • +12 further facts in this act
03-07
NBB filing Annual accounts filed
fiscal year 2025 · full schema
02-07
NBB filing Annual accounts filed
fiscal year 2025 · unclassified schema
11-06
State Gazette act Resignation: MaLiBe BV (director)
Permanent representatives: Johan Van den Broeck, Demot Thibaud and 6 others19 facts ▸
  • General meeting, 29-01-2026
  • Director resignation, MaLiBe BV (director)
  • Board composition, TDevelopment BV (director)
  • Board composition, Rafine BV (director)
  • Board composition, Cyga BV (director)
  • Board composition, Tiga-R NV (director)
  • Board composition, Sarkri NV (director)
  • Board composition, Demot Michel (director)
  • Board composition, Hans Wilmots (director)
  • Board composition, Joris Brams BV (director)
  • Board composition, Namicom BV (director)
  • Permanent representative, Johan Van den Broeck (permanent representative)
  • +7 further facts in this act
2025
09-09
State Gazette act Reappointment: BDO Bedrijfsrevisoren BV (statutory auditor)
Permanent representatives: Thibaud Demot and Johan Van Den Broeck · Mandate compensation5 facts ▸
  • General meeting, 27-06-2025
  • Auditor reappointment, BDO Bedrijfsrevisoren BV (statutory auditor)
  • Mandate compensation, BDO Bedrijfsrevisoren BV
  • Permanent representative, Thibaud Demot
  • Permanent representative, Johan Van Den Broeck
30-06
NBB filing Annual accounts filed
fiscal year 2024 · consolidated
27-06
NBB filing Annual accounts filed
fiscal year 2024 · full schema
2024
25-09
State Gazette act Resignations: PV-MA BV (director) and Maripo BV (director)
Permanent representatives: Pieter Vanhout, Antal Potocan and 8 others · Reappointments: Cyga BV, Joris Brams BV and Namicom BV · Appointment: Rafine BV (director)27 facts ▸
  • General meeting, 30-07-2024
  • Director resignation, PV-MA BV (director)
  • Permanent representative, Pieter Vanhout
  • Director resignation, Maripo BV (director)
  • Permanent representative, Antal Potocan
  • Director reappointment, Cyga BV (director)
  • Permanent representative, Philip Demot
  • Director reappointment, Joris Brams BV (director)
  • Permanent representative, Joris Brams
  • Director reappointment, Namicom BV (director)
  • Permanent representative, Jos Steegmaris
  • Director appointment, Rafine BV (director)
  • +15 further facts in this act
30-07
NBB filing Annual accounts filed
fiscal year 2023 · consolidated
30-07
NBB filing Annual accounts filed
fiscal year 2023 · full schema
17-07
State Gazette act Resignation: FBConstruct BV (director)
Permanent representatives: Joris Brams, Jos Steegmans and 7 others22 facts ▸
  • General meeting, 13-06-2024
  • Director resignation, FBConstruct BV (director)
  • Board composition, Hans Wilmots (director)
  • Board composition, Joris Brams BV (director)
  • Permanent representative, Joris Brams
  • Board composition, Namicom BV (director)
  • Permanent representative, Jos Steegmans
  • Board composition, Cyga BV (director)
  • Permanent representative, Philip Demot
  • Board composition, Tiga-R NV (director)
  • Permanent representative, Rudy Houben
  • Board composition, Sarkri NV (director)
  • +10 further facts in this act
05-07
State Gazette act Resignations: FBConstruct BV (director) and CYGA BV (managing director)
Appointment: TDevelopment BV (managing director) · Director discharge7 facts ▸
  • Board meeting, 05-03-2024
  • Director resignation, FBConstruct BV (director)
  • Director resignation, CYGA BV (managing director)
  • Director discharge, CYGA BV (managing director)
  • Director appointment, TDevelopment BV (managing director)
  • Board composition, MaLiBe BV (director)
  • Board composition, Tiga-R NV (director)
Show earlier events
13-03
State Gazette act Statutes amendment
Capital · Power of attorney5 facts ▸
  • General meeting, 27/12/2023
  • Statutes amendment
  • Statutes amendment
  • Capital, €12.500.000
  • Power of attorney, BAPTIST Annelies
12-01
State Gazette act Appointment: Hans Wilmots (director)
Permanent representatives: Brams Joris, Steegmans Jos and 8 others24 facts ▸
  • General meeting, 03-08-2023
  • Director appointment, Hans Wilmots (director)
  • Board composition, Hans Wilmots (director)
  • Board composition, Joris Brams BV (director)
  • Permanent representative, Brams Joris
  • Board composition, Namicom BV (director)
  • Permanent representative, Steegmans Jos
  • Board composition, Cyga BV (director)
  • Permanent representative, Demot Philip
  • Board composition, Tiga-R NV (director)
  • Permanent representative, Houben Rudy
  • Board composition, Sarkri NV (director)
  • +12 further facts in this act
2023
09-08
NBB filing Annual accounts filed
fiscal year 2022 · consolidated · 3 days late
03-08
NBB filing Annual accounts filed
fiscal year 2022 · full schema · 3 days late
05-01
State Gazette act Reappointment: BDO Bedrijfsrevisoren BV (statutory auditor)
Resignation: Danielle Demot (director) · Appointment: Tdevelopment BV (director) · Permanent representatives: Thibaud Demot, Philip Demot and Houben Rudy9 facts ▸
  • General meeting, 22-06-2022
  • Auditor reappointment, BDO Bedrijfsrevisoren BV
  • Director resignation, Danielle Demot (director)
  • Director appointment, Tdevelopment BV (director)
  • Permanent representative, Thibaud Demot
  • Board composition, CYGA BV (gedelegeerd bestuurder)
  • Permanent representative, Philip Demot
  • Board composition, TIGA-R NV (director)
  • Permanent representative, Houben Rudy
2022
31-12
Financial Weakest financial yearnet €85,089 ▼99.2%
Net result drops to €85,089, the lowest in the series; recovery starts the following year.
07-07
NBB filing Annual accounts filed
fiscal year 2021 · consolidated
23-06
NBB filing Annual accounts filed
fiscal year 2021 · full schema
14-04
State Gazette act Appointments: FB Construct BV, Pieter Vanhout Multidisciplinaire Architectenvennootschap BV and 3 others
Permanent representatives: Frederik Bijnens, Pieter Vanhout and 7 others26 facts ▸
  • General meeting, 21-02-2022
  • Director appointment, FB Construct BV (director)
  • Permanent representative, Frederik Bijnens
  • Director appointment, Pieter Vanhout Multidisciplinaire Architectenvennootschap BV (director)
  • Permanent representative, Pieter Vanhout
  • Director appointment, Manpo BV (director)
  • Permanent representative, Antal Potocan
  • Director appointment, MaLiBe BV (director)
  • Permanent representative, Johannes Van Den Broeck
  • Board composition, Cyga BV (director)
  • Permanent representative, Philip Demot
  • Board composition, Tiga-R NV (director)
  • +14 further facts in this act
2021
31-12
Financial Highest result since 2018net €10.2m ▲944%
Net result €10.2m, the highest in the series.
31-12
Financial Liquidity doublescurrent ratio 1.21
Current ratio from 0.50 to 1.21; short-term debt falls from €14.2m to €7.3m.
2020
31-12
Financial Equity above €25mEq €25.6m ▲15.2%
3 profitable years in a row build equity to €25.6m.
08-07
State Gazette act Reappointments: Michel Demot, Tiga-R nv and 3 others
Permanent representatives: Rudy Houben, Ronny Houben and Philip Demot11 facts ▸
  • General meeting, 03-06-2020
  • Director reappointment, Michel Demot (director)
  • Director reappointment, Tiga-R nv (director)
  • Permanent representative, Rudy Houben
  • Director reappointment, Sarkri nv (director)
  • Permanent representative, Ronny Houben
  • Director reappointment, Danielle Demot (director)
  • Director reappointment, Cyga bv (director)
  • Permanent representative, Philip Demot
  • Board meeting, 03-05-2020
  • Director reappointment, Cyga bv (managing director)
2019
05-12
State Gazette act Reappointment: BDO Bedrijfsrevisoren CVBA (statutory auditor)
Permanent representatives: Gert Maris, Michel Dupont and 2 others6 facts ▸
  • General meeting, 24-10-2019
  • Auditor reappointment, BDO Bedrijfsrevisoren CVBA
  • Permanent representative, Gert Maris
  • Permanent representative, Michel Dupont
  • Permanent representative, Rudy Houben
  • Permanent representative, Philip Demot
14-03
State Gazette act Reappointments: Joris Brams BVBA, Namicom BVBA and Cyga nv
Permanent representatives: Joris Brams, Jcs Steegmans and 2 others · Appointment: Cyga nv (bestuurder/gedelegeerd bestuurder) · Special general meeting12 facts ▸
  • General meeting, 06-06-2018
  • Director reappointment, Joris Brams BVBA (director)
  • Permanent representative, Joris Brams
  • Director reappointment, Namicom BVBA (director)
  • Permanent representative, Jcs Steegmans
  • Director reappointment, Cyga nv (director)
  • Director reappointment, Cyga nv (director)
  • Permanent representative, Demot Philip
  • Special general meeting, 06-06-2018
  • Director appointment, Cyga nv (bestuurder/gedelegeerd bestuurder)
  • Permanent representative, Demot Philip
  • Permanent representative, Rudy Houben
2018
08-05
State Gazette act Resignation: KPMG Bedrijfsrevisoren (statutory auditor)
Appointment: BDO Bedrijfsrevisoren (statutory auditor) · Director discharge · Mandate compensation5 facts ▸
  • General meeting, 25-09-2017
  • Director resignation, KPMG Bedrijfsrevisoren (statutory auditor)
  • Director discharge, KPMG Bedrijfsrevisoren
  • Auditor appointment, BDO Bedrijfsrevisoren (statutory auditor)
  • Mandate compensation, BDO Bedrijfsrevisoren
2015
25-09
State Gazette act Appointments: Joris Brams BVBA, Namicom BVBA and KPMG bedrijfsrevisoren cvba
Permanent representatives: Joris Brams, Jos Steegmans and Wim Heyndrickx · Mandate compensation9 facts ▸
  • General meeting, 03-06-2015
  • Director appointment, Joris Brams BVBA (director)
  • Permanent representative, Joris Brams
  • Director appointment, Namicom BVBA (director)
  • Permanent representative, Jos Steegmans
  • Mandate compensation, Joris Brams BVBA
  • Mandate compensation, Namicom BVBA
  • Auditor appointment, KPMG bedrijfsrevisoren cvba (statutory auditor)
  • Permanent representative, Wim Heyndrickx
2014
28-07
State Gazette act Reappointments: NV Tiga-R, NV Sarkri and 2 others
Permanent representatives: Rudy Houben and Ronny Houben7 facts ▸
  • General meeting, 04-06-2014
  • Director reappointment, NV Tiga-R (director)
  • Permanent representative, Rudy Houben
  • Director reappointment, NV Sarkri (director)
  • Permanent representative, Ronny Houben
  • Director reappointment, Demot Danielle (director)
  • Director reappointment, Demot Michel (director)
2012
03-08
State Gazette act Appointments: CYGA, JORIS BRAMS BVBA and 2 others
Permanent representatives: Philip Demot, Joris Brams and 2 others · Mandate compensation12 facts ▸
  • General meeting, 06-06-2012
  • Director appointment, CYGA (gedelegeerd bestuurder)
  • Mandate compensation, CYGA
  • Permanent representative, Philip Demot
  • Director appointment, JORIS BRAMS BVBA (director)
  • Permanent representative, Joris Brams
  • Director appointment, NAMICOM BVBA (director)
  • Permanent representative, Jos Steegman
  • Mandate compensation, JORIS BRAMS BVBA
  • Mandate compensation, NAMICOM BVBA
  • Auditor appointment, KPMG & Partners (statutory auditor)
  • Permanent representative, Wim Heyndrickx
2009
12-10
State Gazette act Appointment: KPMG & Partners (statutory auditor)
Permanent representative: Wim Heyndrickx · General assembly3 facts ▸
  • General assembly, 03-06-2009
  • Auditor appointment, KPMG & Partners
  • Permanent representative, Wim Heyndrickx
2007
26-11
State Gazette act Appointment: Salustro, Triest, Vleck (statutory auditor)
Permanent representative: Wim Heyndrickx3 facts ▸
  • General meeting, 07-06-2006
  • Auditor appointment, Salustro, Triest, Vleck (statutory auditor)
  • Permanent representative, Wim Heyndrickx
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
19 of 19 acts read

Directors · office · real estate

Directors
13 directors, 1 in day-to-day management, no change since 2026

Board 13

CYGA
Director · since 06-06-2018 · Private limited company · perm. rep.: Philip Demot
Current
Michel Demot
Director · since 03-06-2020
Current
SARKRI
Director · since 03-06-2020 · Public limited company · perm. rep.: Ronny Houben
Current
TIGA-R
Director · since 03-06-2020 · Public limited company · perm. rep.: Rudy Houben
Current
FBConstruct
Director · since 21-02-2022 · Private limited company · perm. rep.: Frederik Bijnens
Current
MaLiBe
Director · since 21-02-2022 · Private limited company · perm. rep.: Johannes Van Den Broeck
Current
MANPO
Director · since 21-02-2022 · Private limited company · perm. rep.: Antal Potocan
Current
PVMA
Director · since 21-02-2022 · Private limited company · perm. rep.: Pieter Vanhout
Current
Show all 13 directors
TDEVELOPMENT
Director · since 22-06-2022 · Private limited company · perm. rep.: Thibaud Demot
Current
Hans Wilmots
Director · since 03-08-2023
Current
JORIS BRAMS
Director · since 30-07-2024 · Private limited company · perm. rep.: Joris Brams
Current
NAMICOM
Director · since 30-07-2024 · Private limited company · perm. rep.: Jos Steegmaris
Current
Rafine
Director · since 30-07-2024 · Private limited company · perm. rep.: Raf Houben
Current
5 not recently confirmed
Still in office according to the acts, but no act of the last six years confirms the mandate. It has often ended since, in an act we have not read.
Joris Brams BVBA
Director · since 06-06-2012 · Legal entity · perm. rep.: Joris Brams
Not recently confirmed
Namicom BVBA
Director · since 06-06-2012 · Legal entity · perm. rep.: Jos Steegman
Not recently confirmed
Cyga nv
Bestuurder/gedelegeerd bestuurder · since 06-06-2018 · Legal entity · perm. rep.: Demot Philip
Not recently confirmed
Sarkri NV
Director · Legal entity · perm. rep.: Ronny Houben
Not recently confirmed
Tiga-R NV
Director · Legal entity · perm. rep.: Rudy Houben
Not recently confirmed

Day-to-day management 1

TDevelopment BV
Managing director · since 05-03-2024 · Legal entity
Current
3 not recently confirmed
Still in office according to the acts, but no act of the last six years confirms the mandate. It has often ended since, in an act we have not read.
CYGA
Gedelegeerd bestuurder · since 06-06-2012 · Legal entity · perm. rep.: Philip Demot
Not recently confirmed
CYGA
Managing director · since 06-06-2018 · Private limited company · perm. rep.: Philip Demot
Not recently confirmed
Cyga nv
Bestuurder/gedelegeerd bestuurder · since 06-06-2018 · Legal entity · perm. rep.: Demot Philip
Not recently confirmed

Permanent representatives 11

Philip Demot
Permanent representative · since 06-06-2018 · for CYGA
Current
Ronny Houben
Permanent representative · since 03-06-2020 · for SARKRI
Current
Rudy Houben
Permanent representative · since 03-06-2020 · for TIGA-R
Current
Antal Potocan
Permanent representative · since 21-02-2022 · for MANPO
Current
Frederik Bijnens
Permanent representative · since 21-02-2022 · for FBConstruct
Current
Johannes Van Den Broeck
Permanent representative · since 21-02-2022 · for MaLiBe
Current
Pieter Vanhout
Permanent representative · since 21-02-2022 · for PVMA
Current
Thibaud Demot
Permanent representative · since 22-06-2022 · for TDEVELOPMENT
Current
Show all 11 representatives
Joris Brams
Permanent representative · since 30-07-2024 · for JORIS BRAMS
Current
Jos Steegmaris
Permanent representative · since 30-07-2024 · for NAMICOM
Current
Raf Houben
Permanent representative · since 30-07-2024 · for Rafine
Current
1 not recently confirmed
Still in office according to the acts, but no act of the last six years confirms the mandate. It has often ended since, in an act we have not read.
Jos Steegman
Permanent representative · since 06-06-2012 · for Namicom BVBA
Not recently confirmed

Statutory auditor 1

BDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISES
Statutory auditor · since 25-09-2017
Current
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Hasselt · 1 establishment unit since 2003
seat establishment The establishment unit on the map
Ground area
2,234 m²
Building footprint
622 m²
Volume, LiDAR
8,953 m³
Parcel 71327G0668/00T000, Flanders · tallest building 19.5 m, ±5 floors. Linked by address, not a title deed.
46 companies at this address See who is registered here
1 establishment unit
Herkenrodesingel 4B, 3500 Hasselt
NACE 7012001
since 20032.115.652.746
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
71327G0668/00T000 Flanders 2,234 m² 1 · 622 m² 19.5 m · 5 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.

Mandate history

30 people since 2006, 21 in office
Show
  • Board
  • Day-to-day management
  • Statutory auditor
  • not recently confirmed
  • began earlier
Mandates per person, with start and end dates
Name Functions and periods
Michel Demot
  • Director, already before 28-07-2014 to date
CYGA
  • Director, already before 06-06-2018 to date
  • Managing director, already before 06-06-2018 not ended, last confirmed 08-07-2020
SARKRI
  • Director, already before 03-06-2020 to date
TIGA-R
  • Director, already before 03-06-2020 to date
FBConstruct
  • Director, from 21-02-2022 to date
MaLiBe
  • Director, from 21-02-2022 to date
MANPO
  • Director, from 21-02-2022 to date
PVMA
  • Director, from 21-02-2022 to date
TDEVELOPMENT
  • Director, from 22-06-2022 to date
Hans Wilmots
  • Director, from 03-08-2023 to date
JORIS BRAMS
  • Director, already before 30-07-2024 to date
NAMICOM
  • Director, already before 30-07-2024 to date
Rafine
  • Director, from 30-07-2024 to date
TDevelopment BV
  • Managing director, from 05-03-2024 to date
BDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISES
  • Statutory auditor, from 25-09-2017 to date
Joris Brams BVBA
  • Director, from 06-06-2012 not ended, last confirmed 14-03-2019
Namicom BVBA
  • Director, from 06-06-2012 not ended, last confirmed 14-03-2019
Sarkri NV
  • Director, already before 28-07-2014 not ended, last confirmed 28-07-2014
Tiga-R NV
  • Director, already before 28-07-2014 not ended, last confirmed 28-07-2014
Cyga nv
  • Bestuurder/gedelegeerd bestuurder, from 06-06-2018 not ended, last confirmed 14-03-2019
  • Bestuurder/gedelegeerd bestuurder, from 06-06-2018 not ended, last confirmed 14-03-2019
CYGA
  • Gedelegeerd bestuurder, from 06-06-2012 not ended, last confirmed 03-08-2012
MaLiBe BV
  • Director, until 31-12-2025
Maripo BV
  • Director, until 30-07-2024
PV-MA BV
  • Director, until 30-07-2024
Cyga BV
  • Managing director, from 21-02-2022 to 05-03-2024
FBConstruct BV
  • Director, until 05-03-2024
  • Director, until 05-03-2024
Danielle Demot
  • Director, already before 28-07-2014 to 22-06-2022
KPMG Bedrijfsrevisoren CVBA
  • Statutory auditor, from 03-06-2015 to 25-09-2017
KPMG & Partners
  • Statutory auditor, from 01-10-2009 to 03-06-2015
Salustro Triest Vleck
  • Statutory auditor, from 07-06-2006 to 01-10-2009
See the board, name and seat on a given date →

Articles of association

Purpose
1/ De participatie, onder welke vorm het ook zij, in de oprichting, ontwikkeling, omvorming en controle van alle ondernemingen, Belgische of buitenlandse, commerciële, financiële…
Full purpose

1/ De participatie, onder welke vorm het ook zij, in de oprichting, ontwikkeling, omvorming en controle van alle ondernemingen, Belgische of buitenlandse, commerciële, financiële, industriële of andere; de verwerving voor eigen rekening van eender welke titels of rechten door middel van participatie, inbreng, onderschrijving, koop op vaste levering of aankoopoptie, verhandeling, of op iedere andere wijze. 2/ Onderneming voor het beheer van eigen beleggingen en vermogens. 3/ Onderneming in onroerende goederen, welke onder meer omvat: de verwerving, de vervreemding, het beheer, de borgstelling, de uitbating, de valorisatie, de verkaveling, de ordening, de huur en de verhuur, het doen bouwen en verbouwen, evenals alle welkdanige onroerende verhandelingen in de meest brede zin, met inbegrip van de onroerende leasing. 4/ Het verlenen aan de ondernemingen waarin zij deelneemt en aan derden, al dan niet bezoldigd, van alle bijstand, hetzij technisch, industrieel, commercieel of administratief, hetzij financieel, met inbegrip van de borgstelling, avalgeving, of inpandgeving van onroerende goederen. 5/ De verwerving en de uitbating van brevetten, octrooien, en licenties, alsook aanverwante immateriële duurzame vaste activa. 6/ Tussenpersoon in de handel, als makelaar in goederen, als zelfstandige handelsvertegenwoordiger en als commissionair. 7/ De uitbating van een bureau voor nijverheidsstudies. 8/ De agentuur bij het afsluiten van verzekeringen, hypotheken, financieringen en projectontwikkeling. 9/ De verhuring van installaties, uitrusting en materieel. 10/ Het verstrekken van leningen en kredieten. De vennootschap kan overgaan tot alle handelsverrichtingen, nijverheidsverrichtingen, financiële en onroerende verrichtingen, zo voor eigen rekening als voor rekening van derden, die van aard zijn de verwezenlijking van haar voorwerp rechtstreeks of onrechtstreeks te bevorderen, dit zowel in België als in het buitenland. Zij kan ook functies van bestuurder of vereffenaar van andere vennootschappen uitoefenen.

Structure & network

Part of the group CYGA 16 companies Group, risk and exposure

Owners and holdings

4 owners · 7 holdings · 9 subsidiaries in the tree

Chain of control

  1. CYGA 64.12%
  2. DEMOCO GROUP

Highest known parent: CYGA. The sources do not say who stands above it.

Owners 4

Holdings 7

Stated earlier (2)

An older source named these holdings; newer accounts no longer list them.

All subsidiaries, including indirect ones 9

Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.

According to the 2025 annual accounts of DEMOCO GROUP and those 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

23 connected companies
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Ownership & control

4 board mandates
Board mandates of this companythis company sits on their board4
4 locations
1 location
1 location

Capital and shareholders

Capital over the years
  1. 13-03-2024 Capital stated in the act · 12,500,000 EUR · 50,000 shares

Public money · subsidies and aid

Flemish government

2022 to 2025 · 12 entries · 93,464 EUR awarded · 93,564 EUR paid
Year Entries awardedpaid
2025 2 21,025 EUR21,025 EUR
2024 4 26,779 EUR26,839 EUR
2023 3 23,427 EUR23,467 EUR
2022 3 22,233 EUR22,233 EUR
Schemes
4 entries · 67,475 EUR · 67,475 EUR paid · Departement Werk en Sociale Economie
4 entries · 12,696 EUR · 12,696 EUR paid · Departement Werk en Sociale Economie
3 entries · 8,157 EUR · 8,257 EUR paid · Fonds voor Innoveren en Ondernemen
1 entry · 5,136 EUR · 5,136 EUR paid · Departement Werk en Sociale Economie

Similar companies · same sector, comparable size

Of 24,728 companies in sector 64210 we hold annual accounts for 19,805. 4,092 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
Founded19-12-2002
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID 0208:0479223847
Also 9925:BE0479223847
Registered 08-07-2025

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.