DentHaline
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 28-07-2026 at the NBB all 7 filings
Amounts without an identifiable currency are taken as euros.
Turnover
≈ €210,000
Estimated: probably between €160,000 and €270,000
Total assets
€550,802▼ 22.9%
2024 · €714,714
Net result
€62,062▼ 84.9%
2024 · €410,641
Working capital
€217,266▲ 45.0%
2024 · €149,848
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€79,869
▼ 43.0%
2025
20192025
Net result
€62,062
▼ 84.9%
2025
middle half of the sector
20192025
Equity
€350,333
▲ 21.5%
2025
middle half of the sector
20192025
Total assets
€550,802
▼ 22.9%
2025
middle half of the sector
20192025
Debt
€200,469
▼ 53.0%
2025
20192025
Working capital
€217,266
▲ 45.0%
2025
middle half of the sector
20192025
Solvency
63.6%
▲ 23.3pp
2025
middle half of the sector
20192025
Current ratio
2.08
▲ 0.73
2025
middle half of the sector
20192025
Return on assets (ROA)
11.3%
▼ 46.2pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€41,437-€45,116▲ 8.9%€97,673▲ 116%€74,535▼ 23.7%€67,040▼ 10.1%€140,143▲ 109%€79,869▼ 43.0%
Net result€32,598-€38,300within the sector's middle half▲ 17.5%€77,367within the sector's middle half▲ 102%€58,593within the sector's middle half▼ 24.3%€52,173within the sector's middle half▼ 11.0%€410,641above the sector's middle half▲ 687%€62,062within the sector's middle half▼ 84.9%
Equity€51,198-€89,498within the sector's middle half▲ 74.8%€166,865within the sector's middle half▲ 86.4%€225,458within the sector's middle half▲ 35.1%€277,630within the sector's middle half▲ 23.1%€288,271within the sector's middle half▲ 3.8%€350,333within the sector's middle half▲ 21.5%
Total assets€61,750-€104,970below the sector's middle half▲ 70.0%€191,375within the sector's middle half▲ 82.3%€320,872within the sector's middle half▲ 67.7%€362,385within the sector's middle half▲ 12.9%€714,714above the sector's middle half▲ 97.2%€550,802within the sector's middle half▼ 22.9%
Debt€10,552-€15,472▲ 46.6%€24,510▲ 58.4%€95,414▲ 289%€84,754▼ 11.2%€426,443▲ 403%€200,469▼ 53.0%
Working capital€48,939-€87,870within the sector's middle half▲ 79.5%€161,966within the sector's middle half▲ 84.3%€195,835within the sector's middle half▲ 20.9%€182,849within the sector's middle half▼ 6.6%€149,848within the sector's middle half▼ 18.0%€217,266within the sector's middle half▲ 45.0%
Solvency82.9%-85.3%above the sector's middle half▲ 2.3pp87.2%above the sector's middle half▲ 1.9pp70.3%within the sector's middle half▼ 16.9pp76.6%within the sector's middle half▲ 6.3pp40.3%within the sector's middle half▼ 36.3pp63.6%within the sector's middle half▲ 23.3pp
Current ratio5.64-6.68above the sector's middle half▲ 1.047.61above the sector's middle half▲ 0.937.25above the sector's middle half▼ 0.366.03within the sector's middle half▼ 1.211.35below the sector's middle half▼ 4.682.08within the sector's middle half▲ 0.73
Return on assets (ROA)52.8%-36.5%above the sector's middle half▼ 16.3pp40.4%above the sector's middle half▲ 3.9pp18.3%within the sector's middle half▼ 22.2pp14.4%within the sector's middle half▼ 3.9pp57.5%above the sector's middle half▲ 43.1pp11.3%within the sector's middle half▼ 46.2pp
above
within
below
The sector band is the middle half of the companies in Human health activities (NACE 86). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 43% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €550,802
Fixed assets
€133,067 ▼ 3.9%
Current assets
€417,735 ▼ 27.5%
Equity and liabilities €550,802
Equity
€350,333 ▲ 21.5%
Debt
€200,469 ▼ 53.0%
Debt's share of the balance-sheet total falls from 59.7% to 36.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€91,951▼
2024 · €151,372
Cash flow
€74,144▼
2024 · €421,869
Debt to equity
0.57▼
2024 · 1.48
ROE
17.7%▼
2024 · 142.4%
Interest coverage
26.65▼
2024 · 83.46
Debt ≤ 1 year
€200,469▼
2024 · €426,443
Income taxes
€24,234▼
2024 · €33,437
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,951 | €10,602 | €53,095 | €35,087 | €6,726 |
| Financial fixed assets | - | €80,500 | - | €51,850 | €0 |
| Depreciation and write-downs of the year | €681 | €2,305 | €3,576 | €11,229 | €12,082 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €2,820 awarded · €2,820 paidAnnual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €0 | - |
| Remuneration, social security and pensions62 | - | - | - | €371 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €893 | €630 | €681 | €2,305 | €3,576 | €11,229 | €12,082 | ▲ 7.6% |
| Other operating charges640/8 | - | - | €449 | €450 | €752 | €505 | €520 | ▲ 2.8% |
| Gross operating margin9900 | €43,349 | €46,288 | €98,803 | €77,661 | €71,368 | €151,877 | €92,471 | ▼ 39.1% |
| Operating profit (loss)9901 | €41,437 | €45,116 | €97,673 | €74,535 | €67,040 | €140,143 | €79,869 | ▼ 43.0% |
| Financial income75/76B | - | - | - | €1 | €508 | €305,749 | €9,877 | ▼ 96.8% |
| Recurring financial income75 | €0 | €0 | - | €1 | €508 | €305,749 | €9,877 | ▼ 96.8% |
| Financial charges65/66B | - | - | €107 | €1,029 | €2,570 | €1,814 | €3,450 | ▲ 90.2% |
| Recurring financial charges65 | €75 | €131 | €107 | €1,029 | €2,570 | €1,814 | €3,450 | ▲ 90.2% |
| Profit (loss) for the period before taxes9903 | €41,361 | €44,986 | €97,566 | €73,507 | €64,978 | €444,078 | €86,296 | ▼ 80.6% |
| Income taxes67/77 | €8,764 | €6,685 | €20,199 | €14,914 | €12,805 | €33,437 | €24,234 | ▼ 27.5% |
| Profit (loss) for the period9904 | €32,598 | €38,300 | €77,367 | €58,593 | €52,173 | €410,641 | €62,062 | ▼ 84.9% |
| Profit (loss) for the period to be appropriated9905 | €32,598 | €38,300 | €77,367 | €58,593 | €52,173 | €410,641 | €62,062 | ▼ 84.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €61,750 | €104,970 | €191,375 | €320,872 | €362,385 | €714,714 | €550,802 | ▼ 22.9% |
| Formation expenses20 | €0 | €0 | - | - | - | - | - | - |
| Fixed assets21/28 | €2,259 | €1,628 | €4,899 | €93,697 | €143,215 | €138,423 | €133,067 | ▼ 3.9% |
| Intangible fixed assets21 | €0 | €0 | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €2,259 | €1,628 | €4,899 | €13,196 | €62,715 | €86,573 | €81,217 | ▼ 6.2% |
| Plant, machinery and equipment23 | - | - | €3,644 | €8,810 | €7,141 | €8,211 | €11,129 | ▲ 35.5% |
| Furniture and vehicles24 | - | - | €1,254 | €4,387 | €3,154 | €1,958 | €2,151 | ▲ 9.9% |
| Other tangible fixed assets26 | - | - | - | - | €52,420 | €76,405 | €67,937 | ▼ 11.1% |
| Financial fixed assets28 | €0 | €0 | - | €80,500 | €80,500 | €51,850 | €51,850 | = |
| Current assets29/58 | €59,491 | €103,341 | €186,476 | €227,175 | €219,169 | €576,291 | €417,735 | ▼ 27.5% |
| Amounts receivable after more than one year29 | - | - | - | - | - | €144,950 | €194,950 | ▲ 34.5% |
| Other amounts receivable291 | - | - | - | - | - | €144,950 | €194,950 | ▲ 34.5% |
| Stocks and contracts in progress3 | €0 | €0 | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €1,637 | €7,322 | €12,882 | €17,515 | €30,842 | €36,803 | €11,790 | ▼ 68.0% |
| Trade receivables40 | - | - | €12,882 | €12,533 | €14,514 | €25,458 | €3,437 | ▼ 86.5% |
| Other amounts receivable41 | - | - | - | €4,983 | €16,328 | €11,345 | €8,352 | ▼ 26.4% |
| Current investments50/53 | €0 | €0 | - | - | - | €200,000 | €69,177 | ▼ 65.4% |
| Cash at bank and in hand54/58 | €57,429 | €96,019 | €148,583 | €208,715 | €187,525 | €190,791 | €139,739 | ▼ 26.8% |
| Deferred charges and accrued income490/1 | - | - | €25,010 | €945 | €803 | €3,747 | €2,080 | ▼ 44.5% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €61,750 | €104,970 | €191,375 | €320,872 | €362,385 | €714,714 | €550,802 | ▼ 22.9% |
| Equity10/15 | €51,198 | €89,498 | €166,865 | €225,458 | €277,630 | €288,271 | €350,333 | ▲ 21.5% |
| Contributions10/11 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €31,860 | €70,898 | €148,265 | €206,858 | €259,030 | €269,671 | €269,671 | = |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | €146,405 | €204,998 | €259,030 | €269,671 | €269,671 | = |
| Profit (loss) carried forward14 | €738 | €0 | - | - | - | €0 | €62,062 | - |
| Amounts payable17/49 | €10,552 | €15,472 | €24,510 | €95,414 | €84,754 | €426,443 | €200,469 | ▼ 53.0% |
| Amounts payable after more than one year17 | - | - | - | €64,074 | €48,434 | €0 | - | - |
| Financial debts170/4 | - | - | - | €64,074 | €48,434 | €0 | - | - |
| Amounts payable within one year42/48 | €10,552 | €15,472 | €24,510 | €31,340 | €36,321 | €426,443 | €200,469 | ▼ 53.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €15,179 | €15,640 | €0 | - | - |
| Financial debts43 | - | - | €1,796 | €6,619 | - | - | - | - |
| Credit institutions430/8 | - | - | €1,796 | €6,619 | - | - | - | - |
| Trade debts44 | €275 | €528 | €1,117 | €642 | €7,141 | €0 | - | - |
| Suppliers440/4 | - | - | €1,117 | €642 | €7,141 | €0 | - | - |
| Taxes, remuneration and social security45 | - | - | €13,552 | €2,670 | €3,840 | €15,955 | €21,376 | ▲ 34.0% |
| Taxes450/3 | - | - | €13,552 | €990 | €1,980 | €14,110 | €16,141 | ▲ 14.4% |
| Remuneration and social security454/9 | - | - | - | €1,680 | €1,860 | €1,845 | €5,235 | ▲ 184% |
| Other amounts payable47/48 | - | - | €8,045 | €6,231 | €9,699 | €410,488 | €179,094 | ▼ 56.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €32,598 | €38,300 | €77,367 | €58,593 | €52,173 | €410,641 | €62,062 | ▼ 84.9% |
| + Depreciation and write-downs630 | €893 | €630 | €681 | €2,305 | €3,576 | €11,229 | €12,082 | ▲ 7.6% |
| Operating cash flow (approximation) | €33,491 | €38,931 | €78,047 | €60,898 | €55,749 | €421,869 | €74,144 | ▼ 82.4% |
| Investment in fixed assets (approximation) | - | €0 | -€3,951 | -€91,103 | -€53,095 | -€6,437 | -€6,726 | ▼ 4.5% |
| Change in cash | - | €38,590 | €52,565 | €60,132 | -€21,191 | €3,266 | -€51,052 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 6,782 companies had the same profile as DentHaline has now. Two years later, 96.7% were still going and 0.6% had gone bankrupt.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
96.7%
was still going
2.7%
stopped otherwise
0.6%
went bankrupt
That fits the bankruptcy probability of DentHaline itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,782 companies, not a prediction for DentHaline. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 28-07-2026 | 2026-00341688 | |
| 31-12-2024 | micro format | 28-07-2025 | 2025-00314892 | |
| 31-12-2023 | micro format | 31-07-2024 | 2024-00311890 | |
| 31-12-2022 | micro format | 01-08-2023 | 2023-00301505 | |
| 31-12-2021 | micro format | 28-06-2022 | 2022-20098120 | |
| 31-12-2020 | micro format | 07-07-2021 | 2021-31600532 | |
| 31-12-2019 | micro format | 23-07-2020 | 2020-32500587 |