DEMOFI
ActiveSummary
DEMOFI has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.4m and a net result of €103,710. Equity is growing by ~13.5% per year across the filed fiscal years. Its solvency ranks better than 69% of 14254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability46▲+1
Solvency81=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €340,000 at 30 days acceptable
Liquidity short (current ratio 0.11 against 0.88 in 2024; short-term debt: 42% and cash: 3.9% of total assets), and 44.4% 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+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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
55.6%
Return on assets
1.1%
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 01-06-2026, 60 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
60 d early
2024
57 d early
2023
60 d early
2022
60 d early
2021
62 d early
2020
60 d early
2019
58 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 60 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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 1 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€5.4m▲ 1.9%
2024 · €5.3m
Total assets
€9.8m▲ 2.9%
2024 · €9.5m
Net result
€103,710▼ 53.6%
2024 · €223,390
Working capital
-€3.7m▼ 680%
2024 · -€472,188
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate 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
Line20212022202320242025
Operating result€378,460▲ 186,334%€401,363▲ 6.1%€1.2m▲ 188%€500,491▼ 56.7%€344,929▼ 31.1%
Net result€183,948above the sector's middle half▲ 311,676%€200,889above the sector's middle half▲ 9.2%€695,706above the sector's middle half▲ 246%€223,390above the sector's middle half▼ 67.9%€103,710above the sector's middle half▼ 53.6%
Equity€4.2mabove the sector's middle half▲ 104,450%€4.4mabove the sector's middle half▲ 4.8%€5.1mabove the sector's middle half▲ 15.7%€5.3mabove the sector's middle half▲ 4.4%€5.4mabove the sector's middle half▲ 1.9%
Total assets€7.7mabove the sector's middle half▲ 97,463%€7.9mabove the sector's middle half▲ 2.7%€8.9mabove the sector's middle half▲ 12.4%€9.5mabove the sector's middle half▲ 7.0%€9.8mabove the sector's middle half▲ 2.9%
Debt€3.5m▲ 90,150%€3.5m▲ 0.2%€3.6m▲ 2.8%€4.0m▲ 11.2%€4.2m▲ 4.6%
Working capital-€2.5mbelow the sector's middle half▼ 84,087%-€2.0mbelow the sector's middle half▲ 17.4%-€883,448below the sector's middle half▲ 56.6%-€472,188below the sector's middle half▲ 46.6%-€3.7mbelow the sector's middle half▼ 680%
Solvency54.7%within the sector's middle half▲ 3.7pp55.8%within the sector's middle half▲ 1.1pp57.5%within the sector's middle half▲ 1.7pp56.1%within the sector's middle half▼ 1.4pp55.6%within the sector's middle half▼ 0.5pp
Current ratio0.28below the sector's middle half▲ 0.060.40below the sector's middle half▲ 0.130.75within the sector's middle half▲ 0.350.88within the sector's middle half▲ 0.130.11below the sector's middle half▼ 0.78
Return on assets (ROA)2.4%within the sector's middle half▲ 1.6pp2.5%within the sector's middle half▲ 0.2pp7.8%above the sector's middle half▲ 5.3pp2.3%within the sector's middle half▼ 5.5pp1.1%within the sector's middle half▼ 1.3pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 31% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9.8m
Fixed assets
€9.4m ▲ 54.9%
Current assets
€433,599 ▼ 87.5%
Equity and liabilities €9.8m
Equity
€5.4m ▲ 1.9%
Provisions
€172,141 ▼ 4.6%
Debt
€4.2m ▲ 4.6%
Debt's share of the balance-sheet total rises from 42.0% to 42.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€859,105▲
2024 · €806,856
Cash flow
€617,886▲
2024 · €529,755
Debt to equity
0.77▲
2024 · 0.75
ROE
1.9%▼
2024 · 4.2%
Interest coverage
3.16▲
2024 · 2.84
Debt ≤ 1 year
€4.1m▲
2024 · €3.9m
Debt > 1 year
€45,635▲
2024 · €44,995
Income taxes
€44,562▼
2024 · €84,588
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,860 companies that looked in July 2024 the way this one looks now, 0.1% went bankrupt within 24 months and 98% are still going.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.1%
went bankrupt
2.0%
stopped otherwise
98%
still going
For this company itself Checked computes a bankruptcy probability of 0.3% 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 1,860 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €366,591 | €327,781 | €373,918 | €306,365 | €514,176 | ▲ 67.8% |
| Other operating charges640/8 | €102,489 | €105,444 | €282,720 | €140,508 | €85,648 | ▼ 39.0% |
| Gross operating margin9900 | €847,540 | €834,587 | €1.8m | €947,364 | €944,753 | ▼ 0.3% |
| Operating profit (loss)9901 | €378,460 | €401,363 | €1.2m | €500,491 | €344,929 | ▼ 31.1% |
| Financial income75/76B | €1,875 | €4,075 | €55,329 | €84,965 | €66,952 | ▼ 21.2% |
| Recurring financial income75 | €1,875 | €4,075 | €55,329 | €84,965 | €66,952 | ▼ 21.2% |
| Financial charges65/66B | €134,437 | €135,652 | €257,255 | €284,570 | €271,848 | ▼ 4.5% |
| Recurring financial charges65 | €134,437 | €135,652 | €257,255 | €284,570 | €271,848 | ▼ 4.5% |
| Profit (loss) for the period before taxes9903 | €245,898 | €269,786 | €952,735 | €300,886 | €140,033 | ▼ 53.5% |
| Transfer from deferred taxes780 | - | - | €1,251 | €7,092 | €8,239 | ▲ 16.2% |
| Transfer to deferred taxes680 | - | - | €188,722 | €0 | - | - |
| Income taxes67/77 | €61,950 | €68,897 | €69,557 | €84,588 | €44,562 | ▼ 47.3% |
| Profit (loss) for the period9904 | €183,948 | €200,889 | €695,706 | €223,390 | €103,710 | ▼ 53.6% |
| Transfer from tax-exempt reserves789 | - | - | €3,752 | €21,277 | €24,716 | ▲ 16.2% |
| Transfer to tax-exempt reserves689 | - | - | €566,167 | €0 | - | - |
| Profit (loss) for the period to be appropriated9905 | €183,948 | €200,889 | €133,291 | €244,667 | €128,426 | ▼ 47.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €7.7m | €7.9m | €8.9m | €9.5m | €9.8m | ▲ 2.9% |
| Fixed assets21/28 | €6.8m | €6.5m | €6.3m | €6.0m | €9.4m | ▲ 54.9% |
| Tangible fixed assets22/27 | €6.8m | €6.5m | €6.3m | €6.0m | €9.4m | ▲ 54.9% |
| Land and buildings22 | €6.7m | €6.5m | €6.1m | €5.9m | €9.3m | ▲ 56.2% |
| Plant, machinery and equipment23 | €6,009 | €5,658 | €5,686 | €5,571 | €6,792 | ▲ 21.9% |
| Furniture and vehicles24 | €58,252 | €29,257 | €117,419 | €91,594 | €67,910 | ▼ 25.9% |
| Current assets29/58 | €953,506 | €1.4m | €2.6m | €3.5m | €433,599 | ▼ 87.5% |
| Amounts receivable within one year40/41 | €6,112 | €7,000 | €0 | €1,674 | €25,400 | ▲ 1,417% |
| Trade receivables40 | - | €7,000 | €0 | €773 | €0 | ▼ 100% |
| Other amounts receivable41 | €6,112 | €0 | - | €901 | €25,400 | ▲ 2,718% |
| Current investments50/53 | €120,424 | €1.1m | €2.0m | €3.1m | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €816,812 | €232,436 | €582,301 | €395,052 | €382,287 | ▼ 3.2% |
| Deferred charges and accrued income490/1 | €10,159 | €19,846 | €18,905 | €21,045 | €25,912 | ▲ 23.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €7.7m | €7.9m | €8.9m | €9.5m | €9.8m | ▲ 2.9% |
| Equity10/15 | €4.2m | €4.4m | €5.1m | €5.3m | €5.4m | ▲ 1.9% |
| Contributions10/11 | €2.5m | €2.5m | €2.5m | €2.5m | €2.5m | = |
| Reserves13 | €954,500 | €954,500 | €1.5m | €1.5m | €1.5m | ▼ 1.7% |
| Tax-exempt reserves132 | €4,500 | €4,500 | €566,916 | €545,638 | €520,922 | ▼ 4.5% |
| Distributable reserves133 | €950,000 | €950,000 | €950,000 | €950,000 | €950,000 | = |
| Profit (loss) carried forward14 | €766,165 | €967,054 | €1.1m | €1.3m | €1.5m | ▲ 9.5% |
| Investment grants15 | €0 | €0 | €0 | €0 | €0 | = |
| Provisions and deferred taxes16 | - | - | €187,472 | €180,379 | €172,141 | ▼ 4.6% |
| Deferred taxes168 | - | - | €187,472 | €180,379 | €172,141 | ▼ 4.6% |
| Amounts payable17/49 | €3.5m | €3.5m | €3.6m | €4.0m | €4.2m | ▲ 4.6% |
| Amounts payable after more than one year17 | €25,500 | €36,300 | €36,300 | €44,995 | €45,635 | ▲ 1.4% |
| Financial debts170/4 | €0 | - | - | - | - | - |
| Other amounts payable178/9 | €25,500 | €36,300 | €36,300 | €44,995 | €45,635 | ▲ 1.4% |
| Amounts payable within one year42/48 | €3.4m | €3.4m | €3.5m | €3.9m | €4.1m | ▲ 4.4% |
| Current portion of amounts payable after more than one year42 | €59,600 | €0 | - | - | - | - |
| Trade debts44 | €1,139 | €28,012 | €2,535 | €1,343 | €6,955 | ▲ 418% |
| Suppliers440/4 | €1,139 | €28,012 | €2,535 | €1,343 | €6,955 | ▲ 418% |
| Taxes, remuneration and social security45 | €39,607 | €43,019 | €58,584 | €86,676 | €81,513 | ▼ 6.0% |
| Taxes450/3 | €39,607 | €43,019 | €58,584 | €86,676 | €81,513 | ▼ 6.0% |
| Other amounts payable47/48 | €3.3m | €3.3m | €3.5m | €3.9m | €4.0m | ▲ 4.4% |
| Accrued charges and deferred income492/3 | €46,986 | €44,843 | €37,449 | €7,067 | €17,434 | ▲ 147% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €183,948 | €200,889 | €695,706 | €223,390 | €103,710 | ▼ 53.6% |
| + Depreciation and write-downs630 | €366,591 | €327,781 | €373,918 | €306,365 | €514,176 | ▲ 67.8% |
| Operating cash flow (approximation) | €550,539 | €528,670 | €1.1m | €529,755 | €617,886 | ▲ 16.6% |
| Investment in fixed assets (approximation) | - | -€107,617 | -€96,183 | -€89,716 | -€3.8m | ▼ 4,173% |
| Change in cash | - | -€584,375 | €349,864 | -€187,249 | -€12,765 | ▲ 93.2% |
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
01-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
04-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
01-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €695,706 ▲246%
Operating result €1.2m, net result €695,706, both a record.
31-12
Financial
Equity above €5mEq €5.1m ▲15.7%
6 profitable years in a row build equity to €5.1m.
01-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €2mEq €4.2m ▲104,450%
4 profitable years in a row build equity to €4.2m.
01-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €59 ▼99.9%
Net result drops to €59, the lowest in the series; recovery starts the following year.
03-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
04-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
08-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
23-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Brussel · 1 establishment unit since 1990
Ground area
212 m²
Building footprint
148 m²
Volume, LiDAR
1,222 m³
Parcel 21819D0192/00A003, Brussels · tallest building 13.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Ijzerkruisenlaan 15, 1120 Brussel
since 19902.334.336.672
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21819D0192/00A003 | Brussels | 212 m² | 1 · 148 m² | 13.8 m · 3 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.
Recognitions · licences · registrations
Legal Entity Identifier
6994000T7FRS36WTN737
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Of 1,530 companies in sector 68322 we hold annual accounts for 745. 169 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
Founded06-04-1990
Fiscal year end31-12
Activities, NACEBEL 2025
68322Real estate appraisal on a fee or contract basis
68310Real estate agency activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0440538960
Also
9925:BE0440538960
Registered
05-11-2025
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.