DENCO
ActiveSummary
DENCO has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €34,294 and a net result of €16,242. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 29% of 16666 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability90▲+90
Solvency61▼-39
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,500 at 30 days acceptable
Liquidity ample (current ratio 1.51 against 5.33 in 2024; short-term debt: 64.4% and cash: 85.4% of total assets), but 64.4% of the assets are financed with debt.
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Signals
Six 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 86
Relative position
BE, all sectors
reference
Human health activities (NACE 86)
about 87% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
35.6%
Return on assets
16.9%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 5 filingsDeviation from the deadline
2025
31 d late
2024
1 d late
2022
on the day
2021
29 d late
2020
31 d late
← 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 18 days after 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.
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, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€16,242
2024 · -€25,654
Working capital
€31,385▼ 41.1%
2024 · €53,303
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
Line20202021202220242025
Operating result€39,246-€49,529▲ 26.2%€47,881▼ 3.3%-€17,134-€16,531
Net result€31,130-€39,074▲ 25.5%€37,354▼ 4.4%-€25,654-€16,242
Equity€34,130-€73,204▲ 114%€110,557▲ 51.0%€58,052-€34,294▼ 40.9%
Total assets€64,737-€100,249▲ 54.9%€148,433▲ 48.1%€70,367-€96,274▲ 36.8%
Debt€30,607-€27,045▼ 11.6%€37,876▲ 40.0%€12,315-€61,980▲ 403%
Working capital€34,130-€72,921▲ 114%€109,090▲ 49.6%€53,303-€31,385▼ 41.1%
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €16,531 after a loss of €17,134 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €96,274
Fixed assets
€2,909 ▼ 38.8%
Current assets
€93,365 ▲ 42.3%
Equity and liabilities €96,274
Equity
€34,294 ▼ 40.9%
Debt
€61,980 ▲ 403%
Debt's share of the balance-sheet total rises from 17.5% to 64.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€18,371▲
2024 · -€16,412
Cash flow
€18,082▲
2024 · -€24,932
Current ratio
1.51▼
2024 · 5.33
Debt to equity
1.81▲
2024 · 0.21
ROE
47.4%▲
2024 · -44.2%
ROA
16.9%▲
2024 · -36.5%
Interest coverage
135.20▲
2024 · -58.63
Debt ≤ 1 year
€61,980▲
2024 · €12,315
Income taxes
€153▼
2024 · €8,246
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,964 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 26,964 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 | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,146 | €80 | €328 | €722 | €1,840 | ▲ 155% |
| Other operating charges640/8 | - | €1,097 | €333 | €434 | €1,066 | ▲ 145% |
| Gross operating margin9900 | €40,541 | €50,707 | €48,542 | -€15,977 | €19,437 | ▲ 222% |
| Operating profit (loss)9901 | €39,246 | €49,529 | €47,881 | -€17,134 | €16,531 | ▲ 196% |
| Financial income75/76B | - | €0 | - | €5 | - | - |
| Recurring financial income75 | €0 | €0 | - | €5 | - | - |
| Financial charges65/66B | - | €256 | €506 | €280 | €136 | ▼ 51.5% |
| Recurring financial charges65 | €5 | €256 | €506 | €280 | €136 | ▼ 51.5% |
| Profit (loss) for the period before taxes9903 | €39,241 | €49,273 | €47,375 | -€17,408 | €16,395 | ▲ 194% |
| Income taxes67/77 | €8,112 | €10,199 | €10,022 | €8,246 | €153 | ▼ 98.1% |
| Profit (loss) for the period9904 | €31,130 | €39,074 | €37,354 | -€25,654 | €16,242 | ▲ 163% |
| Profit (loss) for the period to be appropriated9905 | €31,130 | €39,074 | €37,354 | -€25,654 | €16,242 | ▲ 163% |
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €64,737 | €100,249 | €148,433 | €70,367 | €96,274 | ▲ 36.8% |
| Fixed assets21/28 | - | €282 | €1,468 | €4,749 | €2,909 | ▼ 38.8% |
| Tangible fixed assets22/27 | - | €282 | €1,468 | €4,749 | €2,909 | ▼ 38.8% |
| Plant, machinery and equipment23 | - | €282 | €161 | - | - | - |
| Furniture and vehicles24 | - | - | €1,306 | €4,749 | €2,909 | ▼ 38.8% |
| Current assets29/58 | €64,737 | €99,967 | €146,966 | €65,617 | €93,365 | ▲ 42.3% |
| Amounts receivable within one year40/41 | €15,968 | €4,892 | €6,664 | €12,108 | €5,081 | ▼ 58.0% |
| Trade receivables40 | - | €3,418 | €3,418 | €8,737 | €2,695 | ▼ 69.1% |
| Other amounts receivable41 | - | €1,474 | €3,247 | €3,371 | €2,386 | ▼ 29.2% |
| Cash at bank and in hand54/58 | €47,396 | €94,248 | €138,900 | €51,950 | €82,245 | ▲ 58.3% |
| Deferred charges and accrued income490/1 | - | €827 | €1,401 | €1,560 | €6,038 | ▲ 287% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €64,737 | €100,249 | €148,433 | €70,367 | €96,274 | ▲ 36.8% |
| Equity10/15 | €34,130 | €73,204 | €110,557 | €58,052 | €34,294 | ▼ 40.9% |
| Contributions10/11 | - | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Profit (loss) carried forward14 | €31,130 | €70,204 | €107,557 | €55,052 | €31,294 | ▼ 43.2% |
| Amounts payable17/49 | €30,607 | €27,045 | €37,876 | €12,315 | €61,980 | ▲ 403% |
| Amounts payable within one year42/48 | €30,607 | €27,045 | €37,876 | €12,315 | €61,980 | ▲ 403% |
| Trade debts44 | - | €12 | - | - | €2,343 | - |
| Suppliers440/4 | - | €12 | - | - | €2,343 | - |
| Taxes, remuneration and social security45 | - | €20,619 | €32,689 | €12,226 | €28,050 | ▲ 129% |
| Taxes450/3 | - | €8,755 | €20,709 | €5,756 | €13,183 | ▲ 129% |
| Remuneration and social security454/9 | - | €11,864 | €11,980 | €6,470 | €14,867 | ▲ 130% |
| Other amounts payable47/48 | - | €6,414 | €5,187 | €89 | €31,587 | ▲ 35,435% |
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €31,130 | €39,074 | €37,354 | -€25,654 | €16,242 | ▲ 163% |
| + Depreciation and write-downs630 | €1,146 | €80 | €328 | €722 | €1,840 | ▲ 155% |
| Operating cash flow (approximation) | €32,276 | €39,154 | €37,682 | -€24,932 | €18,082 | ▲ 173% |
| Investment in fixed assets (approximation) | - | - | -€1,514 | - | €0 | - |
| Change in cash | - | €46,852 | €44,652 | - | €30,295 | - |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Back to profitnet €16,242
Net result €16,242 after one loss-making year.
01-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 1 day late
2024
31-12
Financial
Weakest financial yearnet -€25,654
Net result drops to -€25,654, the lowest in the series; recovery starts the following year.
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Equity above €100,000Eq €110,557 ▲51%
3 profitable years in a row build equity to €110,557.
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 29 days late
2021
31-12
Financial
Highest result since 2020net €39,074 ▲25.5%
Operating result €49,529, net result €39,074, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Namur · 2 establishment units since 2020
Ground area
2,363 m²
Building footprint
256 m²
Volume, LiDAR
1,276 m³
2 parcels, Wallonia · tallest building 10.1 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
DENCO
since 20202.300.153.278
DENCO
since 20202.300.153.377
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92078A0219/00R004 | Wallonia | 1,976 m² | 1 · 147 m² | 6.7 m · 1 fl. |
| 91005A0245/00H008 | Wallonia | 386 m² | 1 · 109 m² | 10.1 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 6,945 companies in sector 86230 we hold annual accounts for 4,294. 2,722 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
Founded14-01-2020
Fiscal year end31-12
Activities, NACEBEL 2025
86230Dental practice
41001General construction of residential buildings
E-invoicing
Reachable via Peppol
Peppol ID
0208:0741548172
Registered
22-07-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.