DERUCO
ActiveSummary
DERUCO has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €475,014 and a net result of -€19,124. Equity is shrinking by ~3.2% per year across the filed fiscal years. Its solvency ranks better than 37% of 19374 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability68▲+29
Solvency41▼-1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity short (current ratio 0.1 against 0.09 in 2023; short-term debt: 60% and cash: 5.3% of total assets), and 83.7% of the assets are financed with debt.
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Signals
Six 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 · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
16.3%
Return on assets
-0.7%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year -€19,124
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-08-2025, 30 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
30 d late
2023
68 d late
2022
on the day
2021
283 d late
2020
27 d late
2019
54 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 77 days after 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 (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€475,014▼ 3.9%
2023 · €494,139
Total assets
€2.9m▼ 0.7%
2023 · €2.9m
Net result
-€19,124▲ 60.2%
2023 · -€48,063
Working capital
-€1.6m▲ 0.6%
2023 · -€1.6m
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
Line20202021202220232024
Operating result-€3,397€1,592-€17,510-€2,889▲ 83.5%-€21,944▼ 660%
Net result-€449within the sector's middle half€4,425within the sector's middle half-€39,288below the sector's middle half-€48,063below the sector's middle half▼ 22.3%-€19,124below the sector's middle half▲ 60.2%
Equity€577,065above the sector's middle half▼ 0.1%€581,490above the sector's middle half▲ 0.8%€542,202above the sector's middle half▼ 6.8%€494,139above the sector's middle half▼ 8.9%€475,014above the sector's middle half▼ 3.9%
Total assets€3.1mabove the sector's middle half▲ 1.0%€3.0mabove the sector's middle half▼ 1.1%€3.0mabove the sector's middle half▼ 2.5%€2.9mabove the sector's middle half▼ 1.1%€2.9mabove the sector's middle half▼ 0.7%
Debt€2.4m▲ 1.5%€2.4m▼ 1.5%€2.3m▼ 1.4%€2.3m▲ 0.8%€2.3m▲ 0.1%
Working capital-€1.8mbelow the sector's middle half▼ 1.4%-€1.7mbelow the sector's middle half▲ 4.9%-€1.6mbelow the sector's middle half▲ 2.8%-€1.6mbelow the sector's middle half▲ 3.2%-€1.6mbelow the sector's middle half▲ 0.6%
Solvency18.8%within the sector's middle half▼ 0.2pp19.1%within the sector's middle half▲ 0.4pp18.3%within the sector's middle half▼ 0.8pp16.9%within the sector's middle half▼ 1.4pp16.3%within the sector's middle half▼ 0.5pp
Current ratio0.01below the sector's middle half=0.04below the sector's middle half▲ 0.030.05below the sector's middle half▲ 0.010.09below the sector's middle half▲ 0.040.10below the sector's middle half▲ 0.01
Return on assets (ROA)0.0%within the sector's middle half▼ 7.3pp0.1%within the sector's middle half▲ 0.2pp-1.3%within the sector's middle half▼ 1.5pp-1.6%within the sector's middle half▼ 0.3pp-0.7%within the sector's middle half▲ 1.0pp
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 micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €21,944 in 2024 against €2,889 in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.9m
Fixed assets
€2.7m ▼ 1.2%
Current assets
€176,104 ▲ 7.8%
Equity and liabilities €2.9m
Equity
€475,014 ▼ 3.9%
Provisions
€87,801 ▼ 3.7%
Debt
€2.3m ▲ 0.1%
Debt's share of the balance-sheet total rises from 80.0% to 80.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€92,223▼
2023 · €109,339
Cash flow
€95,044▲
2023 · €64,165
Debt to equity
4.94▲
2023 · 4.74
ROE
-4.0%▲
2023 · -9.7%
Interest coverage
11.88▲
2023 · 2.65
Debt ≤ 1 year
€1.7m▲
2023 · €1.7m
Debt > 1 year
€600,000=
2023 · €600,000
Income taxes
-€7,199▼
2023 · €7,200
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,507 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a small loss
1.6%
went bankrupt
1.8%
stopped otherwise
96%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 2,507 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €108,043 | €106,870 | €111,160 | €112,228 | €114,168 | ▲ 1.7% |
| Other operating charges640/8 | - | €6,605 | €10,548 | €8,403 | €13,163 | ▲ 56.6% |
| Gross operating margin9900 | €105,090 | €115,067 | €104,198 | €117,742 | €105,386 | ▼ 10.5% |
| Operating profit (loss)9901 | -€3,397 | €1,592 | -€17,510 | -€2,889 | -€21,944 | ▼ 660% |
| Financial income75/76B | - | - | - | - | €14 | - |
| Recurring financial income75 | €123 | - | - | - | €14 | - |
| Financial charges65/66B | - | €502 | €25,113 | €41,310 | €7,761 | ▼ 81.2% |
| Recurring financial charges65 | €510 | €502 | €25,113 | €41,310 | €7,761 | ▼ 81.2% |
| Profit (loss) for the period before taxes9903 | -€3,784 | €1,090 | -€42,623 | -€44,199 | -€29,692 | ▲ 32.8% |
| Transfer from deferred taxes780 | - | €3,336 | €3,335 | €3,336 | €3,369 | ▲ 1.0% |
| Income taxes67/77 | - | €1 | - | €7,200 | -€7,199 | ▼ 200% |
| Profit (loss) for the period9904 | -€449 | €4,425 | -€39,288 | -€48,063 | -€19,124 | ▲ 60.2% |
| Transfer from tax-exempt reserves789 | - | €7,941 | €7,941 | €7,940 | €8,021 | ▲ 1.0% |
| Profit (loss) for the period to be appropriated9905 | €7,491 | €12,366 | -€31,347 | -€40,123 | -€11,103 | ▲ 72.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.1m | €3.0m | €3.0m | €2.9m | €2.9m | ▼ 0.7% |
| Fixed assets21/28 | €3.0m | €3.0m | €2.9m | €2.8m | €2.7m | ▼ 1.2% |
| Tangible fixed assets22/27 | €3.0m | €3.0m | €2.9m | €2.8m | €2.7m | ▼ 1.2% |
| Land and buildings22 | - | €3.0m | €2.9m | €2.8m | €2.7m | ▼ 1.2% |
| Current assets29/58 | €24,306 | €77,282 | €91,574 | €163,348 | €176,104 | ▲ 7.8% |
| Amounts receivable within one year40/41 | €1,071 | €10,370 | €10,613 | €6,525 | €20,865 | ▲ 220% |
| Trade receivables40 | - | €9,746 | €10,613 | €5,412 | €20,838 | ▲ 285% |
| Other amounts receivable41 | - | €624 | - | €1,113 | €28 | ▼ 97.5% |
| Cash at bank and in hand54/58 | €23,235 | €41,712 | €51,841 | €156,823 | €155,238 | ▼ 1.0% |
| Deferred charges and accrued income490/1 | - | €25,200 | €29,120 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.1m | €3.0m | €3.0m | €2.9m | €2.9m | ▼ 0.7% |
| Equity10/15 | €577,065 | €581,490 | €542,202 | €494,139 | €475,014 | ▼ 3.9% |
| Contributions10/11 | €600,000 | €600,000 | €600,000 | €600,000 | €600,000 | = |
| Capital10 | - | €600,000 | €600,000 | €600,000 | €600,000 | = |
| Issued capital100 | - | €600,000 | €600,000 | €600,000 | €600,000 | = |
| Reserves13 | €340,243 | €332,302 | €324,361 | €316,421 | €308,399 | ▼ 2.5% |
| Non-distributable reserves130/1 | - | €5,095 | €5,095 | €5,095 | €5,095 | = |
| Legal reserve130 | - | €5,095 | €5,095 | €5,095 | €5,095 | = |
| Tax-exempt reserves132 | - | €232,927 | €224,986 | €217,046 | €209,025 | ▼ 3.7% |
| Distributable reserves133 | - | €94,280 | €94,280 | €94,280 | €94,280 | = |
| Profit (loss) carried forward14 | -€363,178 | -€350,812 | -€382,159 | -€422,282 | -€433,385 | ▼ 2.6% |
| Provisions and deferred taxes16 | €101,177 | €97,841 | €94,506 | €91,170 | €87,801 | ▼ 3.7% |
| Deferred taxes168 | - | €97,841 | €94,506 | €91,170 | €87,801 | ▼ 3.7% |
| Amounts payable17/49 | €2.4m | €2.4m | €2.3m | €2.3m | €2.3m | ▲ 0.1% |
| Amounts payable after more than one year17 | €600,000 | €600,000 | €600,000 | €600,000 | €600,000 | = |
| Financial debts170/4 | - | €600,000 | €600,000 | €600,000 | €600,000 | = |
| Amounts payable within one year42/48 | €1.8m | €1.8m | €1.7m | €1.7m | €1.7m | ▲ 0.2% |
| Trade debts44 | €59,538 | - | €17,884 | €13,691 | €13,851 | ▲ 1.2% |
| Suppliers440/4 | - | - | €17,884 | €13,691 | €13,851 | ▲ 1.2% |
| Taxes, remuneration and social security45 | - | - | €7,925 | €14,400 | €17,125 | ▲ 18.9% |
| Taxes450/3 | - | - | €7,925 | €14,400 | €17,125 | ▲ 18.9% |
| Other amounts payable47/48 | - | €1.8m | €1.7m | €1.7m | €1.7m | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€449 | €4,425 | -€39,288 | -€48,063 | -€19,124 | ▲ 60.2% |
| + Depreciation and write-downs630 | €108,043 | €106,870 | €111,160 | €112,228 | €114,168 | ▲ 1.7% |
| Operating cash flow (approximation) | €107,594 | €111,295 | €71,872 | €64,165 | €95,044 | ▲ 48.1% |
| Investment in fixed assets (approximation) | - | -€19,816 | -€20,897 | -€8,138 | -€81,803 | ▼ 905% |
| Change in cash | - | €18,477 | €10,129 | €104,982 | -€1,585 | ▼ 102% |
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
2025
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
07-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 68 days late
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
10-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 283 days late
2021
31-12
Financial
Back to profitnet €4,425
Net result €4,425 after one loss-making year.
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
23-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 54 days late
2019
31-12
Financial
Back to profitnet €222,225
Net result €222,225 after one loss-making year.
31-12
Financial
Equity above €500,000Eq €577,514 ▲62.5%
Equity rises from €355,289 to €577,514.
02-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 33 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 29 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Aalst · 1 establishment unit since 2000
Ground area
1,423 m²
Building footprint
210 m²
Volume, LiDAR
1,421 m³
Parcel 41304G0047/00Y004, Flanders · tallest building 10.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Louis Camustraat 27, 9300 Aalst
since 20002.099.548.865
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41304G0047/00Y004 | Flanders | 1,423 m² | 1 · 210 m² | 10.4 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.
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Of 9,145 companies in sector 68201 we hold annual accounts for 6,776. 5,037 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded14-12-1999
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0468283435
Also
9925:BE0468283435
Registered
12-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.