DEPFINANCE
ActiveSummary
DEPFINANCE has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €331,721 and a net result of -€27,935. Equity is growing by ~15.5% per year across the filed fiscal years. Its solvency ranks better than 71% of 14254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability13▼-5
Solvency84▼-14
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €20,000 at 30 days acceptable
Liquidity ample (current ratio 6.41 against 1.23 in 2024; short-term debt: 0.8% and cash: 2.2% of total assets), and 41% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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 -€27,935
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 10-03-2026, 51 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
51 d early
2024
30 d early
2023
26 d early
2022
33 d early
2021
39 d early
2020
35 d early
2019
44 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 37 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 28 March (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#5 oldest company in Gistel, Real estate sector
Equity
€331,721▼ 7.8%
2024 · €359,656
Total assets
€562,216▲ 14.2%
2024 · €492,290
Net result
-€27,935▼ 794%
2024 · -€3,123
Working capital
€22,841▲ 126%
2024 · €10,095
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€66,102▼ 76.7%-€37,833€157,343-€7,409-€32,512▼ 339%
Net result€46,757above the sector's middle half▼ 77.0%-€35,846below the sector's middle half€120,597above the sector's middle half-€3,123within the sector's middle half-€27,935below the sector's middle half▼ 794%
Equity€301,037within the sector's middle half▲ 18.4%€257,094within the sector's middle half▼ 14.6%€362,779above the sector's middle half▲ 41.1%€359,656above the sector's middle half▼ 0.9%€331,721above the sector's middle half▼ 7.8%
Total assets€407,429within the sector's middle half▼ 18.1%€405,968within the sector's middle half▼ 0.4%€589,469within the sector's middle half▲ 45.2%€492,290within the sector's middle half▼ 16.5%€562,216within the sector's middle half▲ 14.2%
Debt€32,547▼ 82.4%€77,169▲ 137%€155,398▲ 101%€63,131▼ 59.4%€163,241▲ 159%
Working capital€241,219above the sector's middle half▼ 24.9%€177,755above the sector's middle half▼ 26.3%€164,366above the sector's middle half▼ 7.5%€10,095within the sector's middle half▼ 93.9%€22,841within the sector's middle half▲ 126%
Solvency73.9%above the sector's middle half▲ 22.8pp63.3%within the sector's middle half▼ 10.6pp61.5%within the sector's middle half▼ 1.8pp73.1%above the sector's middle half▲ 11.5pp59.0%within the sector's middle half▼ 14.1pp
Current ratio20.47above the sector's middle half▼ 9.554.18above the sector's middle half▼ 16.282.25within the sector's middle half▼ 1.931.23within the sector's middle half▼ 1.026.41above the sector's middle half▲ 5.18
Return on assets (ROA)11.5%above the sector's middle half▼ 29.3pp-8.8%below the sector's middle half▼ 20.3pp20.5%above the sector's middle half▲ 29.3pp-0.6%within the sector's middle half▼ 21.1pp-5.0%below the sector's middle half▼ 4.3pp
Staff (FTE)0.6=0.3▼ 50.0%
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €32,512 in 2025 against €7,409 in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €562,216
Fixed assets
€535,152 ▲ 22.1%
Current assets
€27,064 ▼ 49.8%
Equity and liabilities €562,216
Equity
€331,721 ▼ 7.8%
Provisions
€67,254 ▼ 3.2%
Debt
€163,241 ▲ 159%
Debt's share of the balance-sheet total rises from 12.8% to 29.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€13,691▼
2024 · -€75
Cash flow
-€9,114▼
2024 · €4,211
Debt to equity
0.49▲
2024 · 0.18
ROE
-8.4%▼
2024 · -0.9%
Interest coverage
-15.12▼
2024 · -0.05
Debt ≤ 1 year
€4,223▼
2024 · €43,857
Debt > 1 year
€159,018▲
2024 · €19,274
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,616 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.2%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 8,616 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €13,713 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €300 | €9,699 | €1,744 | €7,334 | €18,821 | ▲ 157% |
| Other operating charges640/8 | - | €7,518 | €6,453 | €6,569 | €6,767 | ▲ 3.0% |
| Gross operating margin9900 | €107,924 | -€6,903 | €165,540 | €6,494 | -€6,924 | ▼ 207% |
| Operating profit (loss)9901 | €66,102 | -€37,833 | €157,343 | -€7,409 | -€32,512 | ▼ 339% |
| Financial income75/76B | - | - | - | €4,153 | €3,234 | ▼ 22.1% |
| Recurring financial income75 | - | - | - | €4,153 | €3,234 | ▼ 22.1% |
| Financial charges65/66B | - | €153 | €169 | €1,521 | €906 | ▼ 40.5% |
| Recurring financial charges65 | €117 | €153 | €169 | €1,521 | €906 | ▼ 40.5% |
| Profit (loss) for the period before taxes9903 | €65,986 | -€37,986 | €157,174 | -€4,776 | -€30,184 | ▼ 532% |
| Transfer from deferred taxes780 | - | €2,140 | €412 | €1,789 | €2,249 | ▲ 25.7% |
| Income taxes67/77 | €3,382 | - | €36,989 | €136 | - | - |
| Profit (loss) for the period9904 | €46,757 | -€35,846 | €120,597 | -€3,123 | -€27,935 | ▼ 794% |
| Transfer from tax-exempt reserves789 | - | €6,231 | €1,093 | €4,485 | €5,776 | ▲ 28.8% |
| Profit (loss) for the period to be appropriated9905 | €9,209 | -€29,615 | €121,690 | €1,362 | -€22,158 | ▼ 1,727% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €407,429 | €405,968 | €589,469 | €492,290 | €562,216 | ▲ 14.2% |
| Fixed assets21/28 | €153,818 | €172,384 | €293,912 | €438,338 | €535,152 | ▲ 22.1% |
| Tangible fixed assets22/27 | €153,818 | €172,384 | €293,912 | €438,338 | €535,152 | ▲ 22.1% |
| Land and buildings22 | - | €172,384 | €293,912 | €438,338 | €535,152 | ▲ 22.1% |
| Current assets29/58 | €253,611 | €233,584 | €295,558 | €53,952 | €27,064 | ▼ 49.8% |
| Amounts receivable within one year40/41 | €46,037 | €5,893 | - | €15,687 | €13,645 | ▼ 13.0% |
| Trade receivables40 | - | - | - | €366 | €228 | ▼ 37.6% |
| Other amounts receivable41 | - | €5,893 | - | €15,321 | €13,417 | ▼ 12.4% |
| Cash at bank and in hand54/58 | €204,002 | €223,883 | €294,969 | €37,286 | €12,494 | ▼ 66.5% |
| Deferred charges and accrued income490/1 | - | €3,809 | €589 | €978 | €924 | ▼ 5.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €407,429 | €405,968 | €589,469 | €492,290 | €562,216 | ▲ 14.2% |
| Equity10/15 | €301,037 | €257,094 | €362,779 | €359,656 | €331,721 | ▼ 7.8% |
| Contributions10/11 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €285,003 | €270,675 | €376,360 | €373,237 | €367,460 | ▼ 1.5% |
| Non-distributable reserves130/1 | - | €1,859 | - | - | - | - |
| Reserves not available under the articles1311 | - | €1,859 | - | - | - | - |
| Tax-exempt reserves132 | - | €184,309 | €183,216 | €178,731 | €172,955 | ▼ 3.2% |
| Distributable reserves133 | - | €84,506 | €193,144 | €194,505 | €194,505 | = |
| Profit (loss) carried forward14 | -€2,558 | -€32,173 | -€32,173 | -€32,173 | -€54,331 | ▼ 68.9% |
| Provisions and deferred taxes16 | €73,845 | €71,705 | €71,293 | €69,503 | €67,254 | ▼ 3.2% |
| Deferred taxes168 | - | €71,705 | €71,293 | €69,503 | €67,254 | ▼ 3.2% |
| Amounts payable17/49 | €32,547 | €77,169 | €155,398 | €63,131 | €163,241 | ▲ 159% |
| Amounts payable after more than one year17 | €17,827 | €21,340 | €24,206 | €19,274 | €159,018 | ▲ 725% |
| Financial debts170/4 | - | €21,340 | €24,206 | €19,274 | €159,018 | ▲ 725% |
| Amounts payable within one year42/48 | €12,392 | €55,829 | €131,192 | €43,857 | €4,223 | ▼ 90.4% |
| Trade debts44 | - | €39,884 | €51,889 | €21,432 | €120 | ▼ 99.4% |
| Suppliers440/4 | - | €39,884 | €51,889 | €21,432 | €120 | ▼ 99.4% |
| Taxes, remuneration and social security45 | - | €9,301 | €64,081 | €14,025 | €3,268 | ▼ 76.7% |
| Taxes450/3 | - | €9,301 | €64,081 | €14,025 | €3,268 | ▼ 76.7% |
| Other amounts payable47/48 | - | €6,643 | €15,222 | €8,399 | €835 | ▼ 90.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €46,757 | -€35,846 | €120,597 | -€3,123 | -€27,935 | ▼ 794% |
| + Depreciation and write-downs630 | €300 | €9,699 | €1,744 | €7,334 | €18,821 | ▲ 157% |
| Operating cash flow (approximation) | €47,057 | -€26,147 | €122,341 | €4,211 | -€9,114 | ▼ 316% |
| Investment in fixed assets (approximation) | - | -€28,265 | -€123,272 | -€151,760 | -€115,635 | ▲ 23.8% |
| Change in cash | - | €19,880 | €71,086 | -€257,682 | -€24,792 | ▲ 90.4% |
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
10-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Liquidity times 5current ratio 6.41
Current ratio from 1.23 to 6.41; short-term debt falls from €43,857 to €4,223.
31-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
04-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Back to profitnet €120,597
Net result €120,597 after one loss-making year.
28-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Weakest financial yearnet -€35,846
Net result drops to -€35,846, the lowest in the series; recovery starts the following year.
22-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
26-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Highest result since 2018net €202,856 ▲596,011%
Operating result €284,237, net result €202,856, both a record.
30-09
Financial
Liquidity times 6current ratio 30.01
Current ratio from 4.99 to 30.01.
30-09
Financial
Equity above €200,000Eq €254,281 ▲394%
3 profitable years in a row build equity to €254,281.
Show earlier events
17-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Liquidity triplescurrent ratio 4.99
Current ratio from 1.71 to 4.99.
29-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
26-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
15-03
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 3 acts read
About the unread acts
We know of 3 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
3 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, Gistel · 1 establishment unit since 1985
Ground area
158 m²
Parcel 35005A1084/00W000, Flanders. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Tempelhofstraat 16, 8470 Gistel
since 19852.027.977.416
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35005A1084/00W000 | Flanders | 158 m² | - | - |
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.
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Of 12,042 companies in sector 68203 we hold annual accounts for 6,005. 4,430 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded30-09-1985
Fiscal year end30-09
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0427877589
Registered
01-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.