Financials
- Fiscal year
- 2025
- Total assets
- €3.8m
- Loss
- -€302,590
- Solvency
- 15.2%
Total assets▼ 6.7%
Net result
20182025
DENIS DEHARD
ActiveSummary
DENIS DEHARD has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €580,050 and a net result of -€302,590. Equity is growing by ~34.5% per year across the filed fiscal years. Its solvency ranks better than 12% of 108 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Overview
Activity
Logging
NACE 02200NACE 02012Repair and maintenance of machinery NACE 33120
#4 employer in the province of Luxembourg, Forestry sector1 site
Size
€3.8mtotal assets 2025
- Staff
- 15.2 FTE
- Equity
- €580,050
- Loss
- -€302,590
Structure
- Parent
- INVESTSUD PARTICIPATIONS · 57%
Accounts 31 d early0 of 14 deeds read
Why 66- Loss of €302,590, the second in a row (FY 2025)- Liquidity: current ratio 0.90, cash €102,904- Equity €580,050 (15.2% of total assets)+ Sector Forestry and logging (NACE 02)Show the evidence
Checked score
Score 2025
66
/ 100
Healthy
Probability in this band: 0.55% to 1.5%
Better than 8% of its sector peers (NACE 02, small)
Performance against the sector, not lower risk
Financial strength · tick = 2024
Weak
Solvency
40-7
equity 15.2% of total assets
Liquidity
29+7
short-term debt 49.5% · cash 2.7%
Profitability
9-36
return on assets -7.9%
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
About 7 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.1%
12-2024: 0.1%● 0.0% vs 11-2024
01-2025: 0.1%● 0.0% vs 12-2024
02-2025: 0.1%▲ +1.4% vs 01-2025
03-2025: 0.1%▼ -53.0% vs 02-2025lowest value
04-2025: 0.1%▲ +12.9% vs 03-2025
05-2025: 0.1%▲ +3.8% vs 04-2025
06-2025: 0.1%▲ +18.3% vs 05-2025
07-2025: 0.4%▲ +295% vs 06-2025
08-2025: 0.4%● 0.0% vs 07-2025
09-2025: 0.4%● 0.0% vs 08-2025
10-2025: 0.4%● 0.0% vs 09-2025
11-2025: 0.4%● 0.0% vs 10-2025
12-2025: 0.4%▲ +0.5% vs 11-2025
01-2026: 0.4%● 0.0% vs 12-2025
02-2026: 0.4%● 0.0% vs 01-2026
03-2026: 0.4%▲ +1.8% vs 02-2026
04-2026: 0.4%▲ +9.9% vs 03-2026
05-2026: 0.5%▲ +5.8% vs 04-2026
06-2026: 0.5%▲ +3.9% vs 05-2026
07-2026: 0.5%▲ +10.1% vs 06-2026
08-2026: 0.8%▲ +55.6% vs 07-2026
09-2026: 1.1%▲ +30.2% vs 08-2026highest value
10-2026: 0.7%▼ -32.1% vs 09-2026
- Loss of €302,590, the second in a row (FY 2025) raises the probability
- Liquidity: current ratio 0.90, cash €102,904 raises the probability
- Equity €580,050 (15.2% of total assets) raises the probability
- Sector Forestry and logging (NACE 02) lowers the probability
Credit up to €35,000 at 30 days acceptable
Liquidity short (current ratio 0.9 against 1.05 in 2024; short-term debt: 49.5% and cash: 2.7% of total assets), and 84.8% of the assets are financed with debt.
How it is calculated
The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 02, small). Better than this share of them on solvency 9%, liquidity 14%, profitability 6%, growth against the median 2%. That is performance, not lower risk; the band itself always comes from the probability.
Bankruptcy probability: model pd-v3.202610021621, computed on 05-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.
Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€302,590
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 12% of 108 sector peers (2025).
NBB · sector comparisonPosition among 108 sector peers
Solvency
better than 12%
← weakest
strongest →
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 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
57 d early
2023
33 d early
2022
32 d early
2021
39 d early
2020
110 d early
2019
144 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 64 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 37% 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 29 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
06-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · full…
- Weakest financial yearnet -€302,590
- Annual accounts filedfiscal year 2024 · full…
Key points
- Caution: Result fell in 2025from -€39,217 to -€302,590 ▼ 672% View
- Caution: Among the weakest 5% on net resultsector median €40,662 · 108 companies -€302,590 View
- Controlled by INVESTSUD PARTICIPATIONSknown shareholders 57% 57% View
- Caution: 2 loss-making years in a rowloss fiscal year 2025 -€302,590 View
- Positive: Always filed on timeaccounts within the deadline every year 7 years View
By topic
Board & ownership
- Parent
- INVESTSUD PARTICIPATIONS · 57%
- Known shareholders
- 57%
Network & group
- Group
- FINANCIERE DU SUD -…
Timeline
- Events
- 15
- Since
- 2017
- Next accounts
- by 31-07-2027
- 30-06-2026Annual accounts filed
- 31-12-2025Weakest financial year
- 04-06-2025Annual accounts filed
Company details
- Sites
- 1
- Legal form
- Public limited company
- Activity
- LoggingNACE 02200
- Founded
- 18-10-2005
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
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