DEMPHY
ActiveSummary
The annual accounts of DEMPHY for fiscal year 2025 show a net loss of 88% of the equity at the start of that year. The 2025 annual accounts show equity of €918 and a net result of -€6,507. Equity is growing by ~7% per year across the filed fiscal years. Its solvency ranks better than 8% of 7868 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability53▼-29
Solvency27▼-22
Growth78=
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.9 against 1.68 in 2024; short-term debt: 31.7% and cash: 11.5% of total assets), and 98.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
1.7%
Return on assets
-12.3%
Age of the figures
9 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 8% of 7868 sector peers (2025).
NBB · sector comparisonPosition among 7868 sector peers
Solvency
better than 8%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-08-2026, 18 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 7 filingsDeviation from the deadline
2025
18 d late
2024
8 d late
2023
2 d early
2022
30 d early
2021
1 d early
2020
6 d late
2019
3 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 1 day before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€918▼ 87.6%
2024 · €7,425
Total assets
€52,799▲ 71.0%
2024 · €30,879
Net result
-€6,507
2024 · €4,549
Working capital
-€1,633
2024 · €9,108
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€1,015▼ 88.7%€4,044▲ 298%-€5,709€7,117-€5,396
Net result€478▼ 94.3%€2,330▲ 388%-€5,730€4,549-€6,507
Equity€6,277▲ 8.2%€8,607▲ 37.1%€2,876▼ 66.6%€7,425▲ 158%€918▼ 87.6%
Total assets€15,238▼ 11.2%€20,276▲ 33.1%€9,757▼ 51.9%€30,879▲ 216%€52,799▲ 71.0%
Debt€8,961▼ 21.1%€11,669▲ 30.2%€6,881▼ 41.0%€23,454▲ 241%€51,881▲ 121%
Working capital€4,212▼ 14.0%€4,703▲ 11.7%€789▼ 83.2%€9,108▲ 1,055%-€1,633
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 turns negative in 2025: a loss of €5,396 after €7,117 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €52,799
Fixed assets
€37,694 ▲ 353%
Current assets
€15,105 ▼ 33.1%
Equity and liabilities €52,799
Equity
€918 ▼ 87.6%
Debt
€51,881 ▲ 121%
Debt's share of the balance-sheet total rises from 76.0% to 98.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€7,870▼
2024 · €9,686
Cash flow
€6,759▼
2024 · €7,117
Current ratio
0.90▼
2024 · 1.68
ROA
-12.3%▼
2024 · 14.7%
Interest coverage
7.21▲
2024 · 5.43
Debt ≤ 1 year
€16,738▲
2024 · €13,454
Debt > 1 year
€35,143▲
2024 · €10,000
Income taxes
€20▼
2024 · €785
Equity ratios withheld: equity of €918 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 646 companies that looked in July 2024 the way this one looks now, 6.7% went bankrupt within 24 months and 86% are still going.
- Micro
- 5 to 10 years old
- solvency under 10%
- a loss of 10% of the balance sheet or more
6.7%
went bankrupt
5.6%
stopped otherwise
86%
still going
A further 2.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.4% 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 497,058 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% | 1.6% |
| 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 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 646 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 | €699 | €1,404 | €1,816 | €2,569 | €13,266 | ▲ 416% |
| Other operating charges640/8 | €125 | €1,130 | €869 | €814 | €255 | ▼ 68.7% |
| Non-recurring operating charges66A | - | - | - | €129 | €184 | ▲ 42.9% |
| Gross operating margin9900 | €1,839 | €6,578 | -€3,024 | €10,629 | €8,310 | ▼ 21.8% |
| Operating profit (loss)9901 | €1,015 | €4,044 | -€5,709 | €7,117 | -€5,396 | ▼ 176% |
| Financial charges65/66B | €86 | €45 | €42 | €1,784 | €1,092 | ▼ 38.8% |
| Recurring financial charges65 | €86 | €45 | €42 | €1,784 | €1,092 | ▼ 38.8% |
| Profit (loss) for the period before taxes9903 | €929 | €3,999 | -€5,751 | €5,334 | -€6,487 | ▼ 222% |
| Income taxes67/77 | €451 | €1,669 | -€21 | €785 | €20 | ▼ 97.5% |
| Profit (loss) for the period9904 | €478 | €2,330 | -€5,730 | €4,549 | -€6,507 | ▼ 243% |
| Profit (loss) for the period to be appropriated9905 | €478 | €2,330 | -€5,730 | €4,549 | -€6,507 | ▼ 243% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €15,238 | €20,276 | €9,757 | €30,879 | €52,799 | ▲ 71.0% |
| Fixed assets21/28 | €2,065 | €3,904 | €2,088 | €8,317 | €37,694 | ▲ 353% |
| Tangible fixed assets22/27 | €2,065 | €3,904 | €2,088 | €8,317 | €37,694 | ▲ 353% |
| Plant, machinery and equipment23 | €1,617 | €1,867 | €1,004 | €1,454 | €1,783 | ▲ 22.6% |
| Furniture and vehicles24 | €448 | €2,037 | €1,083 | €6,862 | €35,911 | ▲ 423% |
| Current assets29/58 | €13,173 | €16,372 | €7,669 | €22,562 | €15,105 | ▼ 33.1% |
| Amounts receivable within one year40/41 | €9,111 | €7,652 | €4,598 | €7,090 | €8,408 | ▲ 18.6% |
| Trade receivables40 | €8,763 | €7,304 | €4,598 | €7,090 | €8,408 | ▲ 18.6% |
| Other amounts receivable41 | €348 | €348 | - | - | - | - |
| Cash at bank and in hand54/58 | €3,477 | €8,482 | €3,071 | €14,712 | €6,073 | ▼ 58.7% |
| Deferred charges and accrued income490/1 | €585 | €238 | - | €760 | €624 | ▼ 18.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €15,238 | €20,276 | €9,757 | €30,879 | €52,799 | ▲ 71.0% |
| Equity10/15 | €6,277 | €8,607 | €2,876 | €7,425 | €918 | ▼ 87.6% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Issued capital100 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Uncalled capital101 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €25 | €250 | €250 | €250 | €250 | = |
| Non-distributable reserves130/1 | €25 | €250 | €250 | €250 | €250 | = |
| Legal reserve130 | €25 | €250 | €250 | €250 | €250 | = |
| Profit (loss) carried forward14 | €52 | €2,157 | -€3,574 | €975 | -€5,532 | ▼ 667% |
| Amounts payable17/49 | €8,961 | €11,669 | €6,881 | €23,454 | €51,881 | ▲ 121% |
| Amounts payable after more than one year17 | - | - | - | €10,000 | €35,143 | ▲ 251% |
| Financial debts170/4 | - | - | - | - | €20,143 | - |
| Other amounts payable178/9 | - | - | - | €10,000 | €15,000 | ▲ 50.0% |
| Amounts payable within one year42/48 | €8,961 | €11,669 | €6,881 | €13,454 | €16,738 | ▲ 24.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €5,245 | - |
| Trade debts44 | €272 | €826 | - | €443 | €675 | ▲ 52.3% |
| Suppliers440/4 | €272 | €826 | - | €443 | €675 | ▲ 52.3% |
| Taxes, remuneration and social security45 | €1,147 | €2,618 | €2,329 | €2,713 | €231 | ▼ 91.5% |
| Taxes450/3 | €1,147 | €2,618 | €2,329 | €2,713 | €231 | ▼ 91.5% |
| Other amounts payable47/48 | €7,541 | €8,226 | €4,551 | €10,298 | €10,587 | ▲ 2.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €478 | €2,330 | -€5,730 | €4,549 | -€6,507 | ▼ 243% |
| + Depreciation and write-downs630 | €699 | €1,404 | €1,816 | €2,569 | €13,266 | ▲ 416% |
| Operating cash flow (approximation) | €1,177 | €3,734 | -€3,914 | €7,117 | €6,759 | ▼ 5.0% |
| Investment in fixed assets (approximation) | - | -€3,243 | €0 | -€8,797 | -€42,643 | ▼ 385% |
| Change in cash | - | €5,005 | -€5,411 | €11,641 | -€8,639 | ▼ 174% |
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
18-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 18 days late
2025
08-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 8 days late
2024
31-12
Financial
Back to profitnet €4,549
Net result €4,549 after one loss-making year.
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
01-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
06-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 6 days late
2020
31-12
Financial
Back to profitnet €8,442
Net result €8,442 after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 1.43
Current ratio from 0.55 to 1.43.
28-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Kortenberg
Ground area
413 m²
Building footprint
189 m²
Volume, LiDAR
1,088 m³
Parcel 24055A0062/00Z000, Flanders · tallest building 13.1 m, ±1 floor. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24055A0062/00Z000 | Flanders | 412 m² | 1 · 189 m² | 13.1 m · 1 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 22,831 companies in sector 43211 we hold annual accounts for 10,329. 917 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
Founded03-05-2018
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
80090Investigation and security activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0695677961
Also
9925:BE0695677961
Registered
06-10-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.