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 €475k and a net result of €-19k. Equity is shrinking by ~3.2% per year across the filed fiscal years. Its solvency ranks better than 37% of 19356 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 €25k 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.
Credit check for your own amount and term
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 €-19k
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 →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€475k▼ 3.9%
2023 · €494k
Total assets
€2.91M▼ 0.7%
2023 · €2.93M
Net result
€-19k▲ 60.2%
2023 · €-48k
Working capital
€-1.57M▲ 0.6%
2023 · €-1.58M
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€-3k€2k€-18k€-3k▲ 83.5%€-22k▼ 660%
Net result€-449€4k€-39k€-48k▼ 22.3%€-19k▲ 60.2%
Equity€577k▼ 0.1%€581k▲ 0.8%€542k▼ 6.8%€494k▼ 8.9%€475k▼ 3.9%
Total assets€3.07M▲ 1.0%€3.04M▼ 1.1%€2.96M▼ 2.5%€2.93M▼ 1.1%€2.91M▼ 0.7%
Debt€2.39M▲ 1.5%€2.36M▼ 1.5%€2.33M▼ 1.4%€2.34M▲ 0.8%€2.35M▲ 0.1%
Working capital€-1.77M▼ 1.4%€-1.68M▲ 4.9%€-1.63M▲ 2.8%€-1.58M▲ 3.2%€-1.57M▲ 0.6%
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 €22k in 2024 against €3k 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 €2.91M
Fixed assets
€2.73M ▼ 1.2%
Current assets
€176k ▲ 7.8%
Equity and liabilities €2.91M
Equity
€475k ▼ 3.9%
Provisions
€88k ▼ 3.7%
Debt
€2.35M ▲ 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
€92k▼
2023 · €109k
Cash flow
€95k▲
2023 · €64k
Current ratio
0.10▲
2023 · 0.09
Debt to equity
4.94▲
2023 · 4.74
ROE
-4.0%▲
2023 · -9.7%
ROA
-0.7%▲
2023 · -1.6%
Interest coverage
11.88▲
2023 · 2.65
Debt ≤ 1 year
€1.75M▲
2023 · €1.74M
Debt > 1 year
€600k=
2023 · €600k
Income taxes
€-7k▼
2023 · €7k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €108k | €107k | €111k | €112k | €114k | ▲ 1.7% |
| Other operating charges640/8 | - | €7k | €11k | €8k | €13k | ▲ 56.6% |
| Gross operating margin9900 | €105k | €115k | €104k | €118k | €105k | ▼ 10.5% |
| Operating profit (loss)9901 | €-3k | €2k | €-18k | €-3k | €-22k | ▼ 660% |
| Financial income75/76B | - | - | - | - | €14 | - |
| Recurring financial income75 | €123 | - | - | - | €14 | - |
| Financial charges65/66B | - | €502 | €25k | €41k | €8k | ▼ 81.2% |
| Recurring financial charges65 | €510 | €502 | €25k | €41k | €8k | ▼ 81.2% |
| Profit (loss) for the period before taxes9903 | €-4k | €1k | €-43k | €-44k | €-30k | ▲ 32.8% |
| Transfer from deferred taxes780 | - | €3k | €3k | €3k | €3k | ▲ 1.0% |
| Income taxes67/77 | - | €1 | - | €7k | €-7k | ▼ 200% |
| Profit (loss) for the period9904 | €-449 | €4k | €-39k | €-48k | €-19k | ▲ 60.2% |
| Transfer from tax-exempt reserves789 | - | €8k | €8k | €8k | €8k | ▲ 1.0% |
| Profit (loss) for the period to be appropriated9905 | €7k | €12k | €-31k | €-40k | €-11k | ▲ 72.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.07M | €3.04M | €2.96M | €2.93M | €2.91M | ▼ 0.7% |
| Fixed assets21/28 | €3.05M | €2.96M | €2.87M | €2.77M | €2.73M | ▼ 1.2% |
| Tangible fixed assets22/27 | €3.05M | €2.96M | €2.87M | €2.77M | €2.73M | ▼ 1.2% |
| Land and buildings22 | - | €2.96M | €2.87M | €2.77M | €2.73M | ▼ 1.2% |
| Current assets29/58 | €24k | €77k | €92k | €163k | €176k | ▲ 7.8% |
| Amounts receivable within one year40/41 | €1k | €10k | €11k | €7k | €21k | ▲ 220% |
| Trade receivables40 | - | €10k | €11k | €5k | €21k | ▲ 285% |
| Other amounts receivable41 | - | €624 | - | €1k | €28 | ▼ 97.5% |
| Cash at bank and in hand54/58 | €23k | €42k | €52k | €157k | €155k | ▼ 1.0% |
| Deferred charges and accrued income490/1 | - | €25k | €29k | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.07M | €3.04M | €2.96M | €2.93M | €2.91M | ▼ 0.7% |
| Equity10/15 | €577k | €581k | €542k | €494k | €475k | ▼ 3.9% |
| Contributions10/11 | €600k | €600k | €600k | €600k | €600k | = |
| Capital10 | - | €600k | €600k | €600k | €600k | = |
| Issued capital100 | - | €600k | €600k | €600k | €600k | = |
| Reserves13 | €340k | €332k | €324k | €316k | €308k | ▼ 2.5% |
| Non-distributable reserves130/1 | - | €5k | €5k | €5k | €5k | = |
| Legal reserve130 | - | €5k | €5k | €5k | €5k | = |
| Tax-exempt reserves132 | - | €233k | €225k | €217k | €209k | ▼ 3.7% |
| Distributable reserves133 | - | €94k | €94k | €94k | €94k | = |
| Profit (loss) carried forward14 | €-363k | €-351k | €-382k | €-422k | €-433k | ▼ 2.6% |
| Provisions and deferred taxes16 | €101k | €98k | €95k | €91k | €88k | ▼ 3.7% |
| Deferred taxes168 | - | €98k | €95k | €91k | €88k | ▼ 3.7% |
| Amounts payable17/49 | €2.39M | €2.36M | €2.33M | €2.34M | €2.35M | ▲ 0.1% |
| Amounts payable after more than one year17 | €600k | €600k | €600k | €600k | €600k | = |
| Financial debts170/4 | - | €600k | €600k | €600k | €600k | = |
| Amounts payable within one year42/48 | €1.79M | €1.76M | €1.73M | €1.74M | €1.75M | ▲ 0.2% |
| Trade debts44 | €60k | - | €18k | €14k | €14k | ▲ 1.2% |
| Suppliers440/4 | - | - | €18k | €14k | €14k | ▲ 1.2% |
| Taxes, remuneration and social security45 | - | - | €8k | €14k | €17k | ▲ 18.9% |
| Taxes450/3 | - | - | €8k | €14k | €17k | ▲ 18.9% |
| Other amounts payable47/48 | - | €1.76M | €1.70M | €1.72M | €1.72M | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-449 | €4k | €-39k | €-48k | €-19k | ▲ 60.2% |
| + Depreciation and write-downs630 | €108k | €107k | €111k | €112k | €114k | ▲ 1.7% |
| Operating cash flow (approximation) | €108k | €111k | €72k | €64k | €95k | ▲ 48.1% |
| Investment in fixed assets (approximation) | - | €-20k | €-21k | €-8k | €-82k | ▼ 905% |
| Change in cash | - | €18k | €10k | €105k | €-2k | ▼ 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 €4k
Net result €4k 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 €222k
Net result €222k after one loss-making year.
31-12
Financial
Equity above €500kEq €578k ▲62.5%
Equity rises from €355k to €578k.
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 9,143 companies in sector 68201 we hold annual accounts for 6,764. 5,027 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
Scores and ratios are computed by Checked and are not a credit decision.