DEPECO · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of DEPECO is 1.3% (low). The 2025 annual accounts show equity of €30k and a net result of €51k. Equity is shrinking by ~9.4% per year across the filed fiscal years. Its solvency ranks better than 60% of 875 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 6 annual accounts.

Signals

1 signal · with evidence

Consistently profitable

Positive net result in the two most recent financial years (2024 and 2025).

View the result trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 19-03-2026, 134 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.

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.

How we compute the deadline

The year end is derived from 6 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2025, that is 31-07-2026.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	19-03-2026	134 d early	2026-00058421
31-12-2024	31-07-2025	07-07-2025	24 d early	2025-00255447
31-12-2023	31-07-2024	24-07-2024	7 d early	2024-00283751
31-12-2022	31-07-2023	12-07-2023	19 d early	2023-00233881
31-12-2021	31-07-2022	22-08-2022	22 d late	2022-20307292
31-12-2020	31-07-2021	27-08-2021	27 d late	2021-56900320

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

More than 3 years active

Founded in 2020, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

1.3% Low

0%0,5%1,5%4%10%≥25%

Young company +Higher-failure-rate sector +Annual accounts: healthy financial profile −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€51k-13.3%

Working capital€28k-21.6%

CSV export

Annual accounts & ratios

Source: NBB · 2025

Annual accounts filed on 19-03-2026 with the NBB · fiscal year 2025 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

declining Equity: declining trend of ~9.4%/year over 6 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 46, Wholesale trade · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	47.1%	35.1%	better than 60% of 875 sector peers
Net result	€51k	€10k	better than 81% of 874 sector peers
Equity	€30k	€40k	better than 45% of 876 sector peers
Gross operating margin	€78k	€32k	better than 73% of 873 sector peers
Total assets	€64k	€131k	better than 28% of 875 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P60

Weakening position over 2020-2025 · n=875-3381

Net result P81

Improving position over 2020-2025 · n=874-3367

Equity P45

Stable position over 2020-2025 · n=876-3388

Gross operating margin P73

Improving position over 2020-2025 · n=873-3353

Describes the position versus peers, not a forecast.

EBITDA

€77k

-7.5% 20-25

Net profit

€51k

-13.3% 20-25

Cash flow

€52k

-13.2% 20-25

Total assets

€64k

+26.0% 20-25

Equity

€30k

-18.8% 20-25

Working capital

€28k

-21.6% 20-25

Income taxes

€23k

+9.0% 20-25

Dividends

€58k

-25.0% 20-25

Show 9 other metrics

Debt

€34k

+148.1% 20-25

Debt ≤ 1y

€34k

+148.1% 20-25

Current ratio

1.82

-49.4% 20-25

Quick ratio

1.82

-49.4% 20-25

Solvency

47.1%

-35.6% 20-25

Debt / equity

1.12

+205.7% 20-25

ROE

168.8%

+6.8% 20-25

ROA

79.5%

-31.2% 20-25

Interest coverage

32.37

+5.2% 20-25

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Deposit	micro
Revenue	-
EBITDA	€77k
Net profit	€51k
Cash flow	€52k
Staff costs	-
Income taxes	€23k
Dividends	€58k
Total assets	€64k
Equity	€30k
Debt	€34k
of which ≤ 1y	€34k
of which > 1y	-
Working capital	€28k
Employees (FTE)	-

Ratios (computed)

	2025
Current ratio	1.82
Quick ratio	1.82
Working capital ratio	43.4%
Solvency	47.1%
Debt / equity	1.12
Long-term debt ratio	-
Interest coverage	32.37
Gross margin	-
Net margin	-
ROA	79.5%
ROE	168.8%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €2k · 3.7% Current assets €61k · 96.3%

Equity & liabilities

Equity €30k · 47.1% Debt €34k · 52.9%

Full annual accounts (21 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€64k
Fixed assets	21/28	€2k
Tangible fixed assets	22/27	€2k
Current assets	29/58	€61k
Amounts receivable within one year	40/41	€12k
Cash & bank	54/58	€50k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€64k
Equity	10/15	€30k
Contributions / capital	10/11	€30k
Accumulated profits (losses)	14	€0
Amounts payable	17/49	€34k
Amounts payable within one year	42/48	€34k
Trade debts payable within one year	44	€1k
Income statement
Gross operating margin	9900	€78k
Operating result	9901	€76k
Financial income	75	€0
Financial charges	65	€2k
Result before taxes	9903	€74k
Income taxes	67/77	€23k
Net result for the period	9904	€51k
Result to be appropriated	9905	€51k

This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2025 · computed

83 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

from the Crossroads Bank

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Leenstraat 789870 Zulte

Establishment units

1 location

DEPECO

Leenstraat 78, 9870 ZulteHandelsbemiddeling in textiel, kleding, schoeisel en artikelen van leer

since 20202.309.990.464

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels1

Ground area1,023 m²

Buildings1

Building footprint155 m²

Volume (LiDAR)874 m³

Tallest building8.9 m · ±2 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
44081B0611/00Z002	Flanders	1,023 m²	1 · 155 m²	8.9 m · 2 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgian State Gazette · acts

No structured acts for this company yet

That means one of two things: the company has published no company deeds, or its deeds are still queued for reading. The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.