DERMUL
ActiveSummary
DERMUL has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €4.3m and a net result of €838,888. Equity is growing by ~12.6% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability88▲+1
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €340,000 at 30 days acceptable
Liquidity ample (current ratio 3.74 against 3.46 in 2023; short-term debt: 16.5% and cash: 3.9% of total assets), and 19.8% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
about 50% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
80.2%
Return on assets
15.6%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-06-2026, 39 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
39 d early
2024
56 d early
2023
273 d late
2022
59 d early
2021
72 d early
2020
59 d early
2019
25 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 5 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
Checked, nothing found (2)
neutral · 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. Usually files around 5 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money
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Financials · fiscal year 2024, abbreviated schema
Equity
€4.3m▲ 12.5%
2023 · €3.8m
Total assets
€5.4m▲ 7.1%
2023 · €5.0m
Net result
€838,888▲ 15.3%
2023 · €727,828
Working capital
€2.4m▲ 11.5%
2023 · €2.2m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, 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
Line20202021202220232024
Operating result€1.1m▲ 86.7%€1.1m▼ 2.7%€758,797▼ 30.2%€1.0m▲ 37.6%€1.1m▲ 5.0%
Net result€812,054above the sector's middle half▲ 100%€780,664above the sector's middle half▼ 3.9%€547,744above the sector's middle half▼ 29.8%€727,828above the sector's middle half▲ 32.9%€838,888above the sector's middle half▲ 15.3%
Equity€2.8mabove the sector's middle half▲ 27.1%€3.2mabove the sector's middle half▲ 17.0%€3.6mabove the sector's middle half▲ 10.6%€3.8mabove the sector's middle half▲ 7.0%€4.3mabove the sector's middle half▲ 12.5%
Total assets€3.8mabove the sector's middle half▲ 26.4%€4.3mabove the sector's middle half▲ 12.6%€4.3mabove the sector's middle half▼ 0.1%€5.0mabove the sector's middle half▲ 16.1%€5.4mabove the sector's middle half▲ 7.1%
Debt€1.1m▲ 24.8%€1.1m▲ 1.5%€740,368▼ 31.8%€1.2m▲ 60.0%€1.1m▼ 10.1%
Working capital€1.6mabove the sector's middle half▲ 55.9%€2.0mabove the sector's middle half▲ 25.3%€2.2mabove the sector's middle half▲ 7.3%€2.2mabove the sector's middle half▼ 0.6%€2.4mabove the sector's middle half▲ 11.5%
Solvency72.1%above the sector's middle half▲ 0.4pp74.8%above the sector's middle half▲ 2.8pp82.8%above the sector's middle half▲ 8.0pp76.3%above the sector's middle half▼ 6.5pp80.2%above the sector's middle half▲ 3.8pp
Current ratio3.18above the sector's middle half▼ 0.093.45above the sector's middle half▲ 0.274.90above the sector's middle half▲ 1.453.46above the sector's middle half▼ 1.443.74above the sector's middle half▲ 0.28
Return on assets (ROA)21.2%above the sector's middle half▲ 7.8pp18.1%above the sector's middle half▼ 3.1pp12.7%above the sector's middle half▼ 5.4pp14.5%above the sector's middle half▲ 1.8pp15.6%above the sector's middle half▲ 1.1pp
Staff (FTE)23.2above the sector's middle half▲ 5.0%22.1above the sector's middle half▼ 4.7%23above the sector's middle half▲ 4.1%20.4above the sector's middle half▼ 11.3%19.6above the sector's middle half▼ 3.9%
above
within
below
the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 5% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €5.4m
Fixed assets
€2.1m ▲ 5.5%
Current assets
€3.3m ▲ 8.2%
Equity and liabilities €5.4m
Equity
€4.3m ▲ 12.5%
Debt
€1.1m ▼ 10.1%
Debt's share of the balance-sheet total falls from 23.7% to 19.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.3m▲
2023 · €1.2m
Cash flow
€1.1m▲
2023 · €933,211
Quick ratio
2.94▲
2023 · 2.65
Debt to equity
0.25▼
2023 · 0.31
ROE
19.5%▲
2023 · 19.0%
Interest coverage
13.56▲
2023 · 9.97
Debt ≤ 1 year
€882,874=
2023 · €882,930
Debt > 1 year
€181,752▼
2023 · €301,830
Income taxes
€206,038▼
2023 · €260,503
Staff costs
€1.2m▲
2023 · €1.2m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,129 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.5% 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 20,129 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €35,170 | €14,855 | ▼ 57.8% |
| Remuneration, social security and pensions62 | - | €1.2m | €1.3m | €1.2m | €1.2m | ▲ 3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €163,452 | €166,236 | €191,967 | €205,383 | €238,214 | ▲ 16.0% |
| Other operating charges640/8 | - | €28,369 | €27,355 | €30,180 | €29,607 | ▼ 1.9% |
| Non-recurring operating charges66A | - | - | - | - | €749 | - |
| Gross operating margin9900 | €2.5m | €2.5m | €2.3m | €2.5m | €2.6m | ▲ 5.3% |
| Operating profit (loss)9901 | €1.1m | €1.1m | €758,797 | €1.0m | €1.1m | ▲ 5.0% |
| Financial income75/76B | - | €28,163 | €45,442 | €69,421 | €46,731 | ▼ 32.7% |
| Recurring financial income75 | €24,746 | €28,163 | €45,442 | €69,421 | €46,731 | ▼ 32.7% |
| Financial charges65/66B | - | €95,087 | €105,639 | €125,350 | €98,415 | ▼ 21.5% |
| Recurring financial charges65 | €68,727 | €95,087 | €105,639 | €125,350 | €98,415 | ▼ 21.5% |
| Profit (loss) for the period before taxes9903 | €1.1m | €1.0m | €698,600 | €988,331 | €1.0m | ▲ 5.7% |
| Income taxes67/77 | €262,067 | €240,227 | €150,857 | €260,503 | €206,038 | ▼ 20.9% |
| Profit (loss) for the period9904 | €812,054 | €780,664 | €547,744 | €727,828 | €838,888 | ▲ 15.3% |
| Transfer from tax-exempt reserves789 | - | €64,980 | €77,420 | €142,400 | €126,300 | ▼ 11.3% |
| Transfer to tax-exempt reserves689 | - | €210,500 | €168,400 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €685,754 | €635,144 | €456,763 | €870,228 | €965,188 | ▲ 10.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.8m | €4.3m | €4.3m | €5.0m | €5.4m | ▲ 7.1% |
| Fixed assets21/28 | €1.5m | €1.4m | €1.6m | €2.0m | €2.1m | ▲ 5.5% |
| Intangible fixed assets21 | - | €18,688 | €20,808 | €15,648 | €10,488 | ▼ 33.0% |
| Tangible fixed assets22/27 | €1.5m | €1.4m | €1.5m | €1.9m | €2.0m | ▲ 5.9% |
| Land and buildings22 | - | €1.0m | €975,508 | €1.2m | €1.2m | ▲ 0.8% |
| Plant, machinery and equipment23 | - | €343,503 | €529,947 | €706,831 | €828,764 | ▲ 17.3% |
| Furniture and vehicles24 | - | €49,981 | €38,371 | €64,114 | €45,656 | ▼ 28.8% |
| Financial fixed assets28 | €223 | €223 | €223 | €223 | €223 | = |
| Current assets29/58 | €2.4m | €2.9m | €2.7m | €3.1m | €3.3m | ▲ 8.2% |
| Stocks and contracts in progress3 | €560,780 | €802,322 | €542,918 | €716,274 | €710,580 | ▼ 0.8% |
| Stocks30/36 | - | €802,322 | €542,918 | €716,274 | €710,580 | ▼ 0.8% |
| Amounts receivable within one year40/41 | €821,344 | €482,922 | €580,368 | €694,093 | €567,384 | ▼ 18.3% |
| Trade receivables40 | - | €392,934 | €451,951 | €599,499 | €439,149 | ▼ 26.7% |
| Other amounts receivable41 | - | €89,987 | €128,417 | €94,594 | €128,235 | ▲ 35.6% |
| Current investments50/53 | - | €1.4m | €1.4m | €1.2m | €1.8m | ▲ 48.8% |
| Cash at bank and in hand54/58 | €986,589 | €181,100 | €218,123 | €421,735 | €210,917 | ▼ 50.0% |
| Deferred charges and accrued income490/1 | - | €2,824 | €7,055 | €5,859 | €4,663 | ▼ 20.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.8m | €4.3m | €4.3m | €5.0m | €5.4m | ▲ 7.1% |
| Equity10/15 | €2.8m | €3.2m | €3.6m | €3.8m | €4.3m | ▲ 12.5% |
| Contributions10/11 | - | €19,000 | €19,000 | €19,000 | €19,000 | = |
| Reserves13 | €2.7m | €3.2m | €3.6m | €3.8m | €4.3m | ▲ 12.6% |
| Non-distributable reserves130/1 | - | €1,900 | €1,900 | - | - | - |
| Reserves not available under the articles1311 | - | €1,900 | €1,900 | - | - | - |
| Tax-exempt reserves132 | - | €575,370 | €666,350 | €523,950 | €397,650 | ▼ 24.1% |
| Distributable reserves133 | - | €2.6m | €2.9m | €3.3m | €3.9m | ▲ 18.4% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | - |
| Amounts payable17/49 | €1.1m | €1.1m | €740,368 | €1.2m | €1.1m | ▼ 10.1% |
| Amounts payable after more than one year17 | €322,790 | €251,457 | €180,124 | €301,830 | €181,752 | ▼ 39.8% |
| Financial debts170/4 | - | €251,167 | €179,834 | €301,540 | €181,462 | ▼ 39.8% |
| Other amounts payable178/9 | - | €290 | €290 | €290 | €290 | = |
| Amounts payable within one year42/48 | €747,402 | €831,410 | €560,245 | €882,930 | €882,874 | = |
| Current portion of amounts payable after more than one year42 | - | €71,333 | €71,333 | €118,186 | €120,078 | ▲ 1.6% |
| Trade debts44 | €180,857 | €228,840 | €150,064 | €216,772 | €165,609 | ▼ 23.6% |
| Suppliers440/4 | - | €228,840 | €150,064 | €216,772 | €165,609 | ▼ 23.6% |
| Advances received on contracts in progress46 | - | €70,459 | €30,000 | €36,187 | €75,923 | ▲ 110% |
| Taxes, remuneration and social security45 | - | €148,824 | €103,088 | €155,830 | €160,474 | ▲ 3.0% |
| Taxes450/3 | - | €61,321 | €804 | €65,402 | €64,195 | ▼ 1.8% |
| Remuneration and social security454/9 | - | €87,504 | €102,284 | €90,428 | €96,280 | ▲ 6.5% |
| Other amounts payable47/48 | - | €311,954 | €205,759 | €355,955 | €360,789 | ▲ 1.4% |
| Accrued charges and deferred income492/3 | - | €3,035 | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €812,054 | €780,664 | €547,744 | €727,828 | €838,888 | ▲ 15.3% |
| + Depreciation and write-downs630 | €163,452 | €166,236 | €191,967 | €205,383 | €238,214 | ▲ 16.0% |
| Operating cash flow (approximation) | €975,506 | €946,899 | €739,711 | €933,211 | €1.1m | ▲ 15.4% |
| Investment in fixed assets (approximation) | - | -€155,765 | -€310,408 | -€592,420 | -€346,327 | ▲ 41.5% |
| Change in cash | - | -€805,489 | €37,022 | €203,612 | -€210,818 | ▼ 204% |
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
25-06
State Gazette act
RestructuringPermanent representative: Pieter De Vylder · Demerger · Share class45 facts ▸
State Gazette act
Restructuring
Permanent representative: Pieter De Vylder · Demerger · Share class45 facts ▸
- Demerger, partiële splitsing door overneming, partiële splitsing
- Other statement, fiscaal kader activiteiten, productie versus beheer onroerend patrimonium
- Other statement, motivering afzondering, afzondering onroerend vermogen van exploitatieactiviteit
- Other statement, onderzoek juridische pistes en herstructureringsmodaliteiten met adviseurs, doelstellingen partiële splitsing
- Other statement, directe belastingen, neutraal directe belastingen
- Other statement, neutraal,buiten toepassingsgebied,tussen leden btw-eenheid, registratierechten en btw
- Other statement, verkeersbelasting, neutraal verkeersbelasting en belasting op inverkeerstelling
- Share class, op naam, 750
- Shareholding, OXYGEN BV
- Board composition, OXYGEN BV (sole director)
- Permanent representative, Pieter De Vylder (permanent representative)
- Capital
- +33 further facts in this act
22-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
05-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 273 days late
2024
31-12
Financial
Highest result since 2018net €838,888 ▲15.3%
Net result €838,888, the highest in the series.
2023
02-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
20-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
02-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
06-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet €405,862 ▼2.7%
Net result drops to €405,862, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €2mEq €2.2m ▲15.2%
2 profitable years in a row build equity to €2.2m.
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
13-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
29-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Lokeren · 1 establishment unit since 1988
Ground area
1.1 ha
Building footprint
6,260 m²
Volume, LiDAR
39,686 m³
Parcel 46382B1213/00B000, Flanders · tallest building 8.1 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Moortelstraat 5, 9160 Lokeren
since 19882.040.141.711
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46382B1213/00B000 | Flanders | 1.1 ha | 1 · 6,260 m² | 8.1 m · 2 fl. |
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.
Articles of association
Other statement
2 provisions in the deed
Structure & network
Connections & network
No current directors or connected companies found in the register.
Acquisitions and mergers
1 transactionSplit off to:VILARTE
Public money · subsidies and aid
Flemish government
2022 to 2025 · 11 entries · 46,774 EUR awarded · 46,774 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 10,374 EUR | 10,374 EUR |
| 2024 | 2 | 10,428 EUR | 10,428 EUR |
| 2023 | 4 | 8,995 EUR | 12,862 EUR |
| 2022 | 3 | 16,977 EUR | 13,110 EUR |
Recognitions · licences · registrations
Legal Entity Identifier
9845009E6694D5659474
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Identification & contact
Identification
Legal formPrivate limited company
Founded31-08-1988
Fiscal year end31-12
Activities, NACEBEL 2025
25999Manufacture of fabricated metal products, except machinery and equipment
31001Manufacture of furniture
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0435128538
Registered
19-01-2026
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.