Equity
€27,485 ▲ 6.4%
Depa West has made a profit in every financial year since 2021.
Depa West
Lifetime
5 annual accounts with figures on one time axisGross marginpeak €383,051 (2025)
€383,051▲ 88.7%
Resultpeak €176,665 (2025)
€176,665▲ 246%
Equitypeak €27,485 (2025)
€27,485▲ 6.4%
Debts
€623,514▲ 49.3%
Staffpeak 3 FTE (2025)
3 FTE▲ 20.0%
Board2 names since 2021
2 directorsPAUWELS Lieselot and 1 other
Owners2 names in the annual accounts
100%Rbuild
Documentsfilings and deeds
30-01-202690 days before the deadline
2025abbreviated format
Gross margin from €203,042 to €383,051Result from €50,999 to €176,665Staff from 2.5 FTE to 3 FTERegistered office moved within Veurne 14-10Debts from €417,595 to €623,5141 establishment registered
Key points
from the 2025 annual accountsResult
€176,665 ▲ 246%
The result rose in 2025 from €50,999 to €176,665.
Turnover
≈ €1.1m estimated
The accounts state no turnover.
Debts
€623,514 96% of the balance sheet
Suppliers 12%Taxes and wages 2%Other 86%
Investments
€40,176 1.6 × depreciation
Green is investment, beige is depreciation.
Position in the sector
4.2%
Lower solvency than 90% of companies in specialised construction. Sector median 44.0% · 9,940 companies.
Checked score
65
Healthy
Financially stronger than 49% of micro companies in specialised construction (NACE 43)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
1.3% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,692 companies (NACE 43, micro).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.1%
01-2025: 1.2%▲ +0.1 percentage points vs 12-2024
02-2025: 1.3%▲ +0.1 percentage points vs 01-2025
03-2025: 1.3%● unchanged vs 02-2025
04-2025: 1.3%● unchanged vs 03-2025
05-2025: 1.0%▼ -0.3 percentage points vs 04-2025
06-2025: 1.0%● unchanged vs 05-2025
07-2025: 1.0%● unchanged vs 06-2025
08-2025: 1.0%● unchanged vs 07-2025
09-2025: 1.0%● unchanged vs 08-2025
10-2025: 1.0%● unchanged vs 09-2025lowest value
11-2025: 1.7%▲ +0.7 percentage points vs 10-2025
12-2025: 1.9%▲ +0.2 percentage points vs 11-2025
01-2026: 2.2%▲ +0.3 percentage points vs 12-2025highest value
02-2026: 1.6%▼ -0.6 percentage points vs 01-2026
03-2026: 1.5%▼ -0.1 percentage points vs 02-2026
04-2026: 1.5%● unchanged vs 03-2026
05-2026: 1.5%● unchanged vs 04-2026
06-2026: 1.6%▲ +0.1 percentage points vs 05-2026
07-2026: 1.6%● unchanged vs 06-2026
08-2026: 1.6%● unchanged vs 07-2026
09-2026: 1.6%● unchanged vs 08-2026
10-2026: 1.3%▼ -0.3 percentage points vs 09-2026
11-2026: 1.3%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Equity €27,485 (4.2% of total assets)
1 change of registered office in 24 months
lowers risk
Figures for financial year 2025 (filed on 31-01-2026)
Liquidity: current ratio 0.87, cash €290,173
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 10% of them on solvency, 43% on liquidity, 92% on profitability and 49% on growth.
The bankruptcy probability was computed on 05-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 30-09-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 2,153 companies had the same profile as Depa West has now. Each dot stands for 6 companies, two years later.
96.1%
were still trading
2.2%
stopped another way
1.7%
went bankrupt
That fits the bankruptcy probability of Depa West itself: 1.3% within 12 months.
Test of the method
The method was tested on the 497,447 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 2,153 companies, not a prediction for Depa West. 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.
Credit verdict
Credit of up to €1,500 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.87 (0.85 in 2024), below 1. Short-term debt is 95.8% and cash 44.6% of total assets. 95.8% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 9940 sector peers (2025).
NBB · sector comparisonPosition among 9940 sector peers
Solvency
better than 9%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-01-2026, 90 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
90 days early
2024
29 days early
2023
33 days early
2022
32 days early
2021
4 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 5 accounts on average 38 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 29 March (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end06-11-2026 today30-04-2027 deadline
Board and ownership
RB
Rbuild BV
Director
- Rbuild 100%score 85equity €162,342 (2026) · 31-03-2026 annual accounts of Rbuild
Recent changes
New establishment in Veurne
Sint-Idesbaldusstraat 45
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0749586207
Registered office moved within Veurne
New registered office: Gouden-Hoofdstraat 107, 8630 Veurne · Previous registered office: Gouden-Hoofdstraat 53B, 8630 Veurne · Board meeting of 29-04-2025 · Gazette deed
Appointment: PAUWELS Lieselot (director)
General meeting of 26-05-2021 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | Total assets | Gross margin | Solvency | Staff |
|---|---|---|---|---|
| Depa West Veurne | €650,998 | €383,051 | 4.2% | 3 |
| Drafab Green Construct Poperinge | €757,158 | €337,972 | 54.2% | 3.5 |
| HOUTPROJECTEN DE PAUW Beernem | €601,751 | €376,876 | 16.2% | 3.6 |
| Gery De Haes Westerlo | €550,462 | €323,671 | 26.9% | 3 |
| VAMA RAMEN EN DEUREN Lanaken | €669,250 | €386,112 | 21.2% | 3.8 |
| D. De Poorter Veurne | €926,845 | €452,186 | 18.3% | 2.9 |
| IR PROJECTS Koekelare | €711,873 | €288,863 | 27.2% | 3.2 |
These companies have the same main activity as Depa West: joinery installation (NACE 43320). They are comparable in size and age: total assets between €550,000 and €927,000, founded between 2019 and 2021.
Official details
Source: KBO- Status
- Active since 30-06-2020Normal situation
- Activity
- Joinery installationNACE 43320and 2 others
- Joint committee
- 124Construction · annual accounts 30-09-2025
- Establishment units
- 2.304.336.7508630 Veurne, since 30-06-2020
- 2.381.482.5338630 Veurne, since 01-12-2025
- Financial year end
- 30 September
- Peppol
- Reachable since 17-10-2025
Annual accounts to 30-09-2025
- Total assets
- €650,998▲ 46.8%
- Employeeson 30-09-2025
- 3=
- Filing
- Filed on 30-01-2026, 90 days before the end of the filing period
Insights on Depa West
Depa West files the abbreviated format. That format states no turnover. The gross margin rose from €20,401 in 2021 to €383,051 in 2025.
Rbuild holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Depa West
- What is the company number of Depa West?
- The company number of Depa West is 0749.586.207. The VAT number is the same number with BE in front: BE 0749.586.207.
- Where is Depa West based?
- The registered office is at Gouden-Hoofdstraat 107, 8630 Veurne.Company details
- What does Depa West do?
- According to the KBO register, the main activity is joinery installation (NACE 43320).
- What is the legal form of Depa West?
- Depa West is a private limited company (BV).
- When was Depa West founded?
- Depa West was founded on 30-06-2020.
- Is Depa West still active?
- Yes, Depa West is an active enterprise in the KBO register.
- How many employees does Depa West have?
- Depa West had an average of 3 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does Depa West fall under?
- In its 30-09-2025 annual accounts, Depa West states joint committee 124 (Construction).
- What is the turnover of Depa West?
- The turnover in financial year 2025 is ≈ €1.1m. This figure is estimated from the gross margin of €383,051 and 40 comparable companies (NACE 433). It probably lies between €840,000 and €1.4m.
- Is Depa West profitable?
- In financial year 2025, Depa West made a profit of €176,665.
- Where can I find the annual accounts of Depa West?
- Depa West filed 5 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Depa West due?
- Depa West must file the annual accounts for financial year 2026 by 30-04-2027.Timeline
Next steps
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