DERA BOUWONDERNEMING
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 16-03-2026 PDF all 17 filings
Equity
€160,876▼ 41.6%
2024 · €275,532
Total assets
€583,799▼ 15.1%
2024 · €687,449
Net result
-€114,656▼ 12.3%
2024 · -€102,104
Working capital
€367,533▲ 104%
2024 · €180,254
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
-€91,504
▼ 8.1%
2025
20202025
Net result
-€114,656
▼ 12.3%
2025
lowest quarter of the sector
20202025
Equity
€160,876
▼ 41.6%
2025
highest quarter of the sector
20202025
Total assets
€583,799
▼ 15.1%
2025
highest quarter of the sector
20202025
Debt
€422,923
▲ 2.7%
2025
20202025
Working capital
€367,533
▲ 104%
2025
highest quarter of the sector
20202025
Solvency
27.6%
▼ 12.5pp
2025
middle half of the sector
20202025
Current ratio
5.21
▲ 3.63
2025
highest quarter of the sector
20202025
Return on assets (ROA)
-19.6%
▼ 4.8pp
2025
lowest quarter of the sector
20202025
Staff (FTE)
no figure
2025
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€176,821-€155,562▼ 12.0%€17,506▼ 88.7%€119,148▲ 581%-€84,631-€91,504▼ 8.1%
Net result€126,229above the sector's middle half-€121,915above the sector's middle half▼ 3.4%€4,510below the sector's middle half▼ 96.3%€48,907above the sector's middle half▲ 984%-€102,104below the sector's middle half-€114,656below the sector's middle half▼ 12.3%
Equity€232,304within the sector's middle half-€324,219within the sector's middle half▲ 39.6%€328,729within the sector's middle half▲ 1.4%€377,637above the sector's middle half▲ 14.9%€275,532above the sector's middle half▼ 27.0%€160,876above the sector's middle half▼ 41.6%
Total assets€649,210within the sector's middle half-€872,871within the sector's middle half▲ 34.5%€658,151within the sector's middle half▼ 24.6%€685,404above the sector's middle half▲ 4.1%€687,449above the sector's middle half▲ 0.3%€583,799above the sector's middle half▼ 15.1%
Debt€409,496-€541,722▲ 32.3%€325,278▼ 40.0%€307,767▼ 5.4%€411,917▲ 33.8%€422,923▲ 2.7%
Working capital€151,003within the sector's middle half-€164,751within the sector's middle half▲ 9.1%€204,219within the sector's middle half▲ 24.0%€286,042above the sector's middle half▲ 40.1%€180,254above the sector's middle half▼ 37.0%€367,533above the sector's middle half▲ 104%
Solvency35.8%within the sector's middle half-37.1%within the sector's middle half▲ 1.4pp49.9%within the sector's middle half▲ 12.8pp55.1%within the sector's middle half▲ 5.1pp40.1%within the sector's middle half▼ 15.0pp27.6%within the sector's middle half▼ 12.5pp
Current ratio1.77within the sector's middle half-1.67within the sector's middle half▼ 0.101.92within the sector's middle half▲ 0.252.15within the sector's middle half▲ 0.231.58within the sector's middle half▼ 0.575.21above the sector's middle half▲ 3.63
Return on assets (ROA)19.4%above the sector's middle half-14.0%above the sector's middle half▼ 5.5pp0.7%below the sector's middle half▼ 13.3pp7.1%within the sector's middle half▲ 6.5pp-14.9%below the sector's middle half▼ 22.0pp-19.6%below the sector's middle half▼ 4.8pp
Staff (FTE)1.8below the sector's middle half-1.1below the sector's middle half▼ 38.9%0.4below the sector's middle half▼ 63.6%
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 a loss of €91,504, larger than the loss of €84,631 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €583,799
Fixed assets
€129,022 ▼ 34.6%
Current assets
€454,777 ▼ 7.2%
Equity and liabilities €583,799
Equity
€160,876 ▼ 41.6%
Debt
€422,923 ▲ 2.7%
Debt's share of the balance-sheet total rises from 59.9% to 72.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€38,476▼
2024 · -€33,540
Cash flow
-€61,628▼
2024 · -€51,013
Quick ratio
0.87▲
2024 · 0.81
Debt to equity
2.63▲
2024 · 1.49
ROE
-71.3%▼
2024 · -37.1%
Interest coverage
-1.64▲
2024 · -2.01
Debt ≤ 1 year
€87,245▼
2024 · €309,929
Debt > 1 year
€318,502▲
2024 · €101,151
Income taxes
€301▼
2024 · €6,098
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-08-2022 |
|---|---|
| Average over the year, in full-time equivalents | 0.4 |
Source: social balance sheet in the 2022 annual accounts
Investments
| Item | 31-08-2022 | 31-08-2023 | 31-08-2024 | 31-08-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €4,132 | €85,721 | €97,617 | - |
| Depreciation and write-downs of the year | €60,682 | €44,698 | €51,091 | €53,029 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 · 1 entry · €102 awarded · €102 paidAnnual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €3,224 | €78,500 | €26,033 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | - | €20,222 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €155,227 | €94,538 | €60,682 | €44,698 | €51,091 | €53,029 | ▲ 3.8% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | -€2,786 | -€4,144 | €0 | - | - |
| Other operating charges640/8 | - | - | €2,922 | €10,828 | €7,860 | €4,568 | ▼ 41.9% |
| Non-recurring operating charges66A | - | - | - | €10,776 | €0 | €15,216 | - |
| Gross operating margin9900 | €431,294 | €308,831 | €98,547 | €181,306 | -€25,680 | -€18,692 | ▲ 27.2% |
| Operating profit (loss)9901 | €176,821 | €155,562 | €17,506 | €119,148 | -€84,631 | -€91,504 | ▼ 8.1% |
| Financial income75/76B | - | - | €7,177 | €9,549 | €5,332 | €591 | ▼ 88.9% |
| Recurring financial income75 | €5,053 | €4,621 | €7,177 | €9,549 | €5,332 | €591 | ▼ 88.9% |
| Financial charges65/66B | - | - | €6,412 | €8,867 | €16,707 | €23,442 | ▲ 40.3% |
| Recurring financial charges65 | €15,012 | €5,931 | €6,412 | €8,867 | €16,707 | €23,442 | ▲ 40.3% |
| Profit (loss) for the period before taxes9903 | €166,862 | €154,253 | €18,271 | €119,830 | -€96,006 | -€114,355 | ▼ 19.1% |
| Income taxes67/77 | €40,634 | €32,338 | €13,761 | €70,922 | €6,098 | €301 | ▼ 95.1% |
| Profit (loss) for the period9904 | €126,229 | €121,915 | €4,510 | €48,907 | -€102,104 | -€114,656 | ▼ 12.3% |
| Profit (loss) for the period to be appropriated9905 | €126,229 | €121,915 | €4,510 | €48,907 | -€102,104 | -€114,656 | ▼ 12.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €649,210 | €872,871 | €658,151 | €685,404 | €687,449 | €583,799 | ▼ 15.1% |
| Fixed assets21/28 | €301,349 | €462,247 | €233,094 | €150,740 | €197,266 | €129,022 | ▼ 34.6% |
| Tangible fixed assets22/27 | €301,214 | €462,112 | €232,959 | €150,605 | €197,131 | €128,887 | ▼ 34.6% |
| Land and buildings22 | - | - | €12,500 | €12,500 | €12,500 | €12,500 | = |
| Plant, machinery and equipment23 | - | - | €33,185 | €88,940 | €64,101 | €41,196 | ▼ 35.7% |
| Furniture and vehicles24 | - | - | €168,910 | €33,469 | €107,388 | €75,191 | ▼ 30.0% |
| Other tangible fixed assets26 | - | - | €18,364 | €15,697 | €13,142 | €0 | ▼ 100% |
| Financial fixed assets28 | €135 | €135 | €135 | €135 | €135 | €135 | = |
| Current assets29/58 | €347,861 | €410,624 | €425,058 | €534,664 | €490,183 | €454,777 | ▼ 7.2% |
| Amounts receivable after more than one year29 | - | - | €300,000 | €0 | - | - | - |
| Other amounts receivable291 | - | - | €300,000 | €0 | - | - | - |
| Stocks and contracts in progress3 | - | €57,287 | €32,481 | €126,631 | €239,722 | €378,542 | ▲ 57.9% |
| Stocks30/36 | - | - | €32,481 | €126,631 | €239,722 | €378,542 | ▲ 57.9% |
| Amounts receivable within one year40/41 | €102,734 | €25,460 | €21,707 | €130,959 | €13,241 | €9,971 | ▼ 24.7% |
| Trade receivables40 | - | - | €5,262 | €18,600 | €0 | €7,725 | - |
| Other amounts receivable41 | - | - | €16,445 | €112,359 | €13,241 | €2,245 | ▼ 83.0% |
| Cash at bank and in hand54/58 | €82,794 | €94,599 | €62,885 | €12,027 | €231,968 | €60,189 | ▼ 74.1% |
| Deferred charges and accrued income490/1 | - | - | €7,985 | €265,047 | €5,252 | €6,076 | ▲ 15.7% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €649,210 | €872,871 | €658,151 | €685,404 | €687,449 | €583,799 | ▼ 15.1% |
| Equity10/15 | €232,304 | €324,219 | €328,729 | €377,637 | €275,532 | €160,876 | ▼ 41.6% |
| Contributions10/11 | - | - | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €111,855 | €186,855 | €190,855 | €359,087 | €256,982 | €237,907 | ▼ 7.4% |
| Distributable reserves133 | - | - | €190,855 | €359,087 | €256,982 | €237,907 | ▼ 7.4% |
| Profit (loss) carried forward14 | €101,899 | €118,814 | €119,324 | €0 | - | -€95,581 | - |
| Provisions and deferred taxes16 | €7,409 | €6,929 | €4,144 | €0 | - | - | - |
| Provisions for liabilities and charges160/5 | - | - | €4,144 | €0 | - | - | - |
| Environmental obligations163 | - | - | €4,144 | €0 | - | - | - |
| Amounts payable17/49 | €409,496 | €541,722 | €325,278 | €307,767 | €411,917 | €422,923 | ▲ 2.7% |
| Amounts payable after more than one year17 | €212,638 | €292,994 | €104,440 | €59,146 | €101,151 | €318,502 | ▲ 215% |
| Financial debts170/4 | - | - | €104,440 | €59,146 | €101,151 | €58,502 | ▼ 42.2% |
| Other amounts payable178/9 | - | - | - | - | - | €260,000 | - |
| Amounts payable within one year42/48 | €196,858 | €245,873 | €220,838 | €248,622 | €309,929 | €87,245 | ▼ 71.9% |
| Current portion of amounts payable after more than one year42 | - | - | €58,414 | €43,816 | €52,841 | €42,649 | ▼ 19.3% |
| Financial debts43 | - | - | - | €155,000 | €195,000 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | €155,000 | €195,000 | €0 | ▼ 100% |
| Trade debts44 | €65,334 | €32,110 | €100,414 | €36,469 | €54,742 | €10,964 | ▼ 80.0% |
| Suppliers440/4 | - | - | €100,414 | €36,469 | €54,742 | €10,964 | ▼ 80.0% |
| Taxes, remuneration and social security45 | - | - | €16,772 | €13,337 | €7,346 | €2,717 | ▼ 63.0% |
| Taxes450/3 | - | - | €16,772 | €9,180 | €3,028 | €521 | ▼ 82.8% |
| Remuneration and social security454/9 | - | - | - | €4,156 | €4,319 | €2,195 | ▼ 49.2% |
| Other amounts payable47/48 | - | - | €45,238 | €0 | - | €30,915 | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €837 | €17,177 | ▲ 21× |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €126,229 | €121,915 | €4,510 | €48,907 | -€102,104 | -€114,656 | ▼ 12.3% |
| + Depreciation and write-downs630 | €155,227 | €94,538 | €60,682 | €44,698 | €51,091 | €53,029 | ▲ 3.8% |
| Operating cash flow (approximation) | €281,455 | €216,453 | €65,192 | €93,605 | -€51,013 | -€61,628 | ▼ 20.8% |
| Investment in fixed assets (approximation) | - | -€255,437 | €168,471 | €37,656 | -€97,617 | €15,216 | - |
| Change in cash | - | €11,805 | -€31,714 | -€50,857 | €219,941 | -€171,779 | - |
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, 180 companies had the same profile as DERA BOUWONDERNEMING has now. Two years later, 91.1% were still going and 5.6% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
91.1%
was still going
2.8%
stopped otherwise
5.6%
went bankrupt
Another 0.6% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DERA BOUWONDERNEMING itself: 1.2% 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 180 companies, not a prediction for DERA BOUWONDERNEMING. 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.
Latest 10 of 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-08-2025 | micro format | 16-03-2026 | 2026-00055835 | |
| 31-08-2024 | micro format | 18-03-2025 | 2025-00049889 | |
| 31-08-2023 | micro format | 14-03-2024 | 2024-00043428 | |
| 31-08-2022 | abbreviated format | 31-03-2023 | 2023-00050033 | |
| 31-08-2021 | abbreviated format | 31-03-2022 | 2022-09700308 | |
| 31-08-2020 | abbreviated format | 30-04-2021 | 2021-12400027 | |
| 30-09-2018 | micro format | 30-04-2019 | 2019-11700194 | |
| 30-09-2017 | micro format | 30-04-2018 | 2018-11300303 | |
| 30-09-2016 | abbreviated format | 02-05-2017 | 2017-10900532 | |
| 30-09-2015 | abbreviated format | 05-04-2016 | 2016-09400208 |