Denderwood
ActiveSummary
Denderwood has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6.66M and a net result of €26k. Equity remains stable across the filed fiscal years (±0.4% per year). Its solvency ranks better than 68% of 276 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability40▲+10
Solvency87▲+28
Growth52▲+20
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €470k at 30 days acceptable
Liquidity ample (current ratio 7.69 against 4.8 in 2024; short-term debt: 5.5% and cash: 0.8% of total assets), and 37.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
62.3%
Return on assets
0.2%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 16
Relative position
BE, all sectors
reference
Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials (NACE 16)
about 8% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €6.66M
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 09-06-2026, 52 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
52 d early
2024
147 d early
2023
55 d early
2022
27 d early
2021
31 d early
2020
40 d early
2019
9 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€6.66M▲ 179%
2024 · €2.39M
2018: €2.47M
2019: €2.45M▼ -0.9% vs 2018
2020: €2.45M▼ -0.1% vs 2019
2021: €2.43M▼ -0.9% vs 2020
2022: €2.44M▲ +0.7% vs 2021
2023: €2.41M▼ -1.2% vs 2022
2024: €2.39M▼ -0.9% vs 2023lowest in 8 years
2025: €6.66M▲ +179% vs 2024highest in 8 years
2018 → 2025
Total assets
€10.69M▲ 52.9%
2024 · €6.99M
2018: €7.48M
2019: €7.69M▲ +2.8% vs 2018
2020: €6.89M▼ -10.5% vs 2019
2021: €5.88M▼ -14.5% vs 2020lowest in 8 years
2022: €6.33M▲ +7.6% vs 2021
2023: €7.78M▲ +22.9% vs 2022
2024: €6.99M▼ -10.1% vs 2023
2025: €10.69M▲ +52.9% vs 2024highest in 8 years
2018 → 2025
Net result
€26k
2024 · €-22k
2018: €33khighest in 8 years
2019: €-21k▼ -165% vs 2018
2020: €-3k▲ +88.0% vs 2019
2021: €-21k▼ -726% vs 2020
2022: €16k▲ +174% vs 2021
2023: €-30k▼ -293% vs 2022lowest in 8 years
2024: €-22k▲ +28.3% vs 2023
2025: €26k▲ +219% vs 2024
2018 → 2025
Working capital
€3.93M▲ 3.5%
2024 · €3.79M
2018: €1.70M
2019: €1.64M▼ -3.5% vs 2018
2020: €1.57M▼ -4.3% vs 2019lowest in 8 years
2021: €2.47M▲ +57.3% vs 2020
2022: €2.97M▲ +20.6% vs 2021
2023: €4.64M▲ +56.1% vs 2022highest in 8 years
2024: €3.79M▼ -18.3% vs 2023
2025: €3.93M▲ +3.5% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€2.43M-€2.44M▲ 0.7%€2.41M▼ 1.2%€2.39M▼ 0.9%€6.66M▲ 179%
2021: €2.43M
2022: €2.44M▲ +0.7% vs 2021
2023: €2.41M▼ -1.2% vs 2022
2024: €2.39M▼ -0.9% vs 2023lowest in 5 years
2025: €6.66M▲ +179% vs 2024highest in 5 years
Operating result€156k-€263k▲ 68.6%€158k▼ 39.9%€168k▲ 6.2%€137k▼ 18.2%
2021: €156k
2022: €263k▲ +68.6% vs 2021highest in 5 years
2023: €158k▼ -39.9% vs 2022
2024: €168k▲ +6.2% vs 2023
2025: €137k▼ -18.2% vs 2024lowest in 5 years
Net result€-21k-€16k€-30k€-22k▲ 28.3%€26k
2021: €-21k
2022: €16k▲ +174% vs 2021
2023: €-30k▼ -293% vs 2022lowest in 5 years
2024: €-22k▲ +28.3% vs 2023
2025: €26k▲ +219% vs 2024highest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 18% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €10.69M
Fixed assets
€6.18M ▲ 180%
Current assets
€4.51M ▼ 5.8%
Equity and liabilities €10.69M
Equity
€6.66M ▲ 179%
Provisions
€35k ▼ 25.0%
Debt
€3.99M ▼ 12.4%
Debt's share of the balance-sheet total falls from 65.1% to 37.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€432k▼
2024 · €470k
Cash flow
€321k▲
2024 · €280k
Current ratio
7.69▲
2024 · 4.80
Quick ratio
4.49▲
2024 · 2.94
Debt to equity
0.60▼
2024 · 1.91
ROE
0.4%▲
2024 · -0.9%
ROA
0.2%▲
2024 · -0.3%
Interest coverage
2.46▲
2024 · 1.43
Debt ≤ 1 year
€587k▼
2024 · €998k
Debt > 1 year
€3.31M▼
2024 · €3.49M
Income taxes
€65k▲
2024 · €20k
Staff costs
€573k▼
2024 · €632k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 64 lines
Balance sheet
Code20242025
Assets
Total assets20/58€6.99M€10.69M▲
Fixed assets21/28€2.20M€6.18M▲
Tangible fixed assets22/27€2.19M€6.17M▲
Land and buildings22€1.80M€5.88M▲
Plant, machinery and equipment23€78k€54k▼
Furniture and vehicles24€293k€214k▼
Other tangible fixed assets26€18k€17k▼
Financial fixed assets28€10k€10k▼
Current assets29/58€4.79M€4.51M▼
Amounts receivable after more than one year29€1.98M€2.06M▲
Other amounts receivable291€1.98M€2.06M▲
Stocks and contracts in progress3€1.85M€1.88M▲
Stocks30/36€1.85M€1.88M▲
Amounts receivable within one year40/41€829k€478k▼
Trade receivables40€805k€452k▼
Other amounts receivable41€23k€27k▲
Cash at bank and in hand54/58€131k€90k▼
Deferred charges and accrued income490/1€795€6k▲
Equity and liabilities
Total equity and liabilities10/49€6.99M€10.69M▲
Equity10/15€2.39M€6.66M▲
Contributions10/11€1.11M€1.11M=
Capital10€1.11M€1.11M=
Issued capital100€1.11M€1.11M=
Revaluation surpluses12-€4.25M
Reserves13€1.28M€1.30M▲
Non-distributable reserves130/1€111k€111k=
Legal reserve130€111k€111k=
Tax-exempt reserves132€173k€138k▼
Distributable reserves133€994k€1.06M▲
Provisions and deferred taxes16€47k€35k▼
Deferred taxes168€47k€35k▼
Amounts payable17/49€4.56M€3.99M▼
Amounts payable after more than one year17€3.49M€3.31M▼
Financial debts170/4€2.20M€2.13M▼
Other amounts payable178/9€1.30M€1.18M▼
Amounts payable within one year42/48€998k€587k▼
Current portion of amounts payable after more than one year42€107k€70k▼
Trade debts44€760k€328k▼
Suppliers440/4€760k€328k▼
Taxes, remuneration and social security45€131k€189k▲
Taxes450/3€49k€98k▲
Remuneration and social security454/9€82k€91k▲
Other amounts payable47/48€0-
Accrued charges and deferred income492/3€67k€94k▲
Income statement
Code20242025
Remuneration, social security and pensions62€632k€573k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€302k€295k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€2k€0▼
Other operating charges640/8€51k€66k▲
Gross operating margin9900€1.15M€1.07M▼
Operating profit (loss)9901€168k€137k▼
Financial income75/76B€147k€118k▼
Recurring financial income75€147k€118k▼
Financial charges65/66B€328k€176k▼
Recurring financial charges65€328k€176k▼
Profit (loss) for the period before taxes9903€-13k€80k▲
Transfer from deferred taxes780€12k€12k=
Income taxes67/77€20k€65k▲
Profit (loss) for the period9904€-22k€26k▲
Transfer from tax-exempt reserves789€35k€35k=
Profit (loss) for the period to be appropriated9905€13k€61k▲
Appropriation of the result
Profit (loss) to be appropriated9906€13k€61k▲
Transfer to equity691/2€13k€61k▲
To other reserves6921€13k€61k▲
Social balance
Average headcount (FTE)90878.98.3▼
The notes to these accounts (20 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €4k | €0 | - | - | - | - |
| Remuneration, social security and pensions62 | €529k | €524k | €612k | €632k | €573k | ▼ 9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €296k | €310k | €297k | €302k | €295k | ▼ 2.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €37k | €0 | €26k | €2k | €0 | ▼ 100% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €-32k | €0 | - | - | - | - |
| Other operating charges640/8 | €45k | €73k | €65k | €51k | €66k | ▲ 31.2% |
| Non-recurring operating charges66A | - | €5k | €0 | - | - | - |
| Gross operating margin9900 | €1.03M | €1.18M | €1.16M | €1.15M | €1.07M | ▼ 7.2% |
| Operating profit (loss)9901 | €156k | €263k | €158k | €168k | €137k | ▼ 18.2% |
| Financial income75/76B | €20k | €26k | €54k | €147k | €118k | ▼ 19.5% |
| Recurring financial income75 | €20k | €26k | €54k | €147k | €118k | ▼ 19.5% |
| Financial charges65/66B | €165k | €243k | €229k | €328k | €176k | ▼ 46.4% |
| Recurring financial charges65 | €165k | €227k | €229k | €328k | €176k | ▼ 46.4% |
| Non-recurring financial charges66B | - | €16k | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | €11k | €46k | €-16k | €-13k | €80k | ▲ 700% |
| Transfer from deferred taxes780 | €12k | €12k | €12k | €12k | €12k | = |
| Income taxes67/77 | €44k | €42k | €26k | €20k | €65k | ▲ 223% |
| Profit (loss) for the period9904 | €-21k | €16k | €-30k | €-22k | €26k | ▲ 219% |
| Transfer from tax-exempt reserves789 | €35k | €35k | €35k | €35k | €35k | = |
| Profit (loss) for the period to be appropriated9905 | €14k | €51k | €5k | €13k | €61k | ▲ 362% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.88M | €6.33M | €7.78M | €6.99M | €10.69M | ▲ 52.9% |
| Fixed assets21/28 | €2.60M | €2.50M | €2.33M | €2.20M | €6.18M | ▲ 180% |
| Tangible fixed assets22/27 | €2.59M | €2.49M | €2.32M | €2.19M | €6.17M | ▲ 181% |
| Land and buildings22 | €2.33M | €2.16M | €1.98M | €1.80M | €5.88M | ▲ 226% |
| Plant, machinery and equipment23 | €134k | €95k | €75k | €78k | €54k | ▼ 30.7% |
| Furniture and vehicles24 | €104k | €213k | €248k | €293k | €214k | ▼ 26.8% |
| Other tangible fixed assets26 | €21k | €20k | €19k | €18k | €17k | ▼ 5.1% |
| Assets under construction and advance payments27 | €0 | - | - | - | - | - |
| Financial fixed assets28 | €11k | €11k | €10k | €10k | €10k | ▼ 1.4% |
| Current assets29/58 | €3.29M | €3.83M | €5.45M | €4.79M | €4.51M | ▼ 5.8% |
| Amounts receivable after more than one year29 | - | - | €2.00M | €1.98M | €2.06M | ▲ 4.0% |
| Other amounts receivable291 | - | - | €2.00M | €1.98M | €2.06M | ▲ 4.0% |
| Stocks and contracts in progress3 | €1.39M | €2.02M | €1.75M | €1.85M | €1.88M | ▲ 1.6% |
| Stocks30/36 | €1.39M | €2.02M | €1.75M | €1.85M | €1.88M | ▲ 1.6% |
| Amounts receivable within one year40/41 | €1.68M | €1.16M | €1.53M | €829k | €478k | ▼ 42.3% |
| Trade receivables40 | €1.31M | €824k | €567k | €805k | €452k | ▼ 43.9% |
| Other amounts receivable41 | €370k | €333k | €962k | €23k | €27k | ▲ 15.2% |
| Cash at bank and in hand54/58 | €194k | €211k | €86k | €131k | €90k | ▼ 31.3% |
| Deferred charges and accrued income490/1 | €26k | €443k | €87k | €795 | €6k | ▲ 687% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.88M | €6.33M | €7.78M | €6.99M | €10.69M | ▲ 52.9% |
| Equity10/15 | €2.43M | €2.44M | €2.41M | €2.39M | €6.66M | ▲ 179% |
| Contributions10/11 | €1.11M | €1.11M | €1.11M | €1.11M | €1.11M | = |
| Capital10 | €1.11M | €1.11M | €1.11M | €1.11M | €1.11M | = |
| Issued capital100 | €1.11M | €1.11M | €1.11M | €1.11M | €1.11M | = |
| Revaluation surpluses12 | - | - | - | - | €4.25M | - |
| Reserves13 | €1.31M | €1.33M | €1.30M | €1.28M | €1.30M | ▲ 2.0% |
| Non-distributable reserves130/1 | €111k | €111k | €111k | €111k | €111k | = |
| Legal reserve130 | €111k | €111k | €111k | €111k | €111k | = |
| Tax-exempt reserves132 | €278k | €243k | €208k | €173k | €138k | ▼ 20.3% |
| Distributable reserves133 | €926k | €976k | €981k | €994k | €1.06M | ▲ 6.1% |
| Provisions and deferred taxes16 | €82k | €70k | €58k | €47k | €35k | ▼ 25.0% |
| Provisions for liabilities and charges160/5 | €0 | - | - | - | - | - |
| Major repairs and maintenance162 | €0 | - | - | - | - | - |
| Deferred taxes168 | €82k | €70k | €58k | €47k | €35k | ▼ 25.0% |
| Amounts payable17/49 | €3.38M | €3.82M | €5.31M | €4.56M | €3.99M | ▼ 12.4% |
| Amounts payable after more than one year17 | €2.50M | €2.89M | €4.42M | €3.49M | €3.31M | ▼ 5.2% |
| Financial debts170/4 | €2.15M | €2.79M | €2.79M | €2.20M | €2.13M | ▼ 3.2% |
| Other amounts payable178/9 | €350k | €100k | €1.63M | €1.30M | €1.18M | ▼ 8.6% |
| Amounts payable within one year42/48 | €823k | €859k | €810k | €998k | €587k | ▼ 41.2% |
| Current portion of amounts payable after more than one year42 | €302k | €281k | €194k | €107k | €70k | ▼ 35.2% |
| Financial debts43 | €0 | - | - | - | - | - |
| Credit institutions430/8 | €0 | - | - | - | - | - |
| Trade debts44 | €254k | €370k | €534k | €760k | €328k | ▼ 56.8% |
| Suppliers440/4 | €254k | €370k | €534k | €760k | €328k | ▼ 56.8% |
| Advances received on contracts in progress46 | €6k | €4k | €0 | - | - | - |
| Taxes, remuneration and social security45 | €260k | €201k | €73k | €131k | €189k | ▲ 44.4% |
| Taxes450/3 | €186k | €137k | €41k | €49k | €98k | ▲ 101% |
| Remuneration and social security454/9 | €74k | €65k | €33k | €82k | €91k | ▲ 10.7% |
| Other amounts payable47/48 | €0 | €1k | €9k | €0 | - | - |
| Accrued charges and deferred income492/3 | €50k | €70k | €82k | €67k | €94k | ▲ 40.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-21k | €16k | €-30k | €-22k | €26k | ▲ 219% |
| + Depreciation and write-downs630 | €296k | €310k | €297k | €302k | €295k | ▼ 2.4% |
| Operating cash flow (approximation) | €274k | €326k | €267k | €280k | €321k | ▲ 14.5% |
| Investment in fixed assets (approximation) | - | €-212k | €-130k | €-174k | €-4.27M | ▼ 2,352% |
| Change in cash | - | €17k | €-125k | €44k | €-41k | ▼ 193% |
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
09-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €26k
Net result €26k after 2 loss-making years.
31-12
Financial
Equity above €5MEq €6.66M ▲179%
Equity rises from €2.39M to €6.66M.
06-03
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
06-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €-30k
Net result drops to €-30k, the lowest in the series; recovery starts the following year.
04-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €16k
Net result €16k after 3 loss-making years.
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Liquidity doublescurrent ratio 3.99
Current ratio from 1.65 to 3.99; short-term debt falls from €2.42M to €823k.
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
23-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
26-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
25-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 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
9 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, Erpe-Mere · 1 establishment unit since 1983
Ground area
2.0 ha
Building footprint
8,469 m²
Volume, LiDAR
61,663 m³
Parcel 41016D0784/00A000, Flanders · tallest building 10.5 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Denderwood
since 19832.021.921.349
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41016D0784/00A000 | Flanders | 2.0 ha | 1 · 8,469 m² | 10.5 m · 2 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.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 4 entries · 18,375 EUR awarded · 18,375 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 2 | 12,094 EUR | 12,094 EUR |
| 2023 | 1 | 105 EUR | 105 EUR |
| 2022 | 1 | 6,176 EUR | 6,176 EUR |
Schemes
Subsidies voor internationaal ondernemen
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 siteErpe-Mere2.021.921.349
Legal Entity Identifier
549300Q97YYG0HB0R172
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Of 663 companies in sector 16110 we hold annual accounts for 320. 127 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
Founded01-01-1983
Fiscal year end31-12
Activities, NACEBEL 2025
16110Sawmilling and planing of wood
46832Wholesale of timber
47551Retail sale of household furniture
Scores and ratios are computed by Checked and are not a credit decision.