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Private limited companyfounded 2021active for 5 yearsWestendelaan 160, 8430 Middelkerke, BelgiumKBO/BCE: BE 0772.394.568

Financials · financial year 2025, micro format

Annual accounts 2025 filed on 18-05-2026 PDF all 5 filings

Equity
€44,594▲ 111%
2024 · €21,181
Net result
€23,413▲ 152%
2024 · €9,303
Total assets
€61,394▲ 13.6%
2024 · €54,054
Solvency
72.6%▲ 33.5pp
2024 · 39.2%
Trend over the years

2021 to 2025, 5 financial years

The operating result for 2025 is 145% higher than in 2024 and the highest since 2021. It is a recovery after the fall in 2024.

Operating result€31,818 2025 Net result€23,413 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).

Every figure with its change against the financial year before
favourable unfavourable
Line20212022202320242025
Operating result€7,600-€26,871▲ 254%€14,064▼ 47.7%€12,992▼ 7.6%€31,818▲ 145%
Net result€5,570within the sector's middle half-€20,235within the sector's middle half▲ 263%€10,073within the sector's middle half▼ 50.2%€9,303within the sector's middle half▼ 7.6%€23,413within the sector's middle half▲ 152%
Equity€10,570below the sector's middle half-€30,805below the sector's middle half▲ 191%€40,877within the sector's middle half▲ 32.7%€21,181below the sector's middle half▼ 48.2%€44,594within the sector's middle half▲ 111%
Total assets€101,556below the sector's middle half-€90,103below the sector's middle half▼ 11.3%€82,173below the sector's middle half▼ 8.8%€54,054below the sector's middle half▼ 34.2%€61,394below the sector's middle half▲ 13.6%
Debt€90,986-€59,299▼ 34.8%€41,296▼ 30.4%€32,873▼ 20.4%€16,800▼ 48.9%
Working capital-€19,908within the sector's middle half-€5,251within the sector's middle half€18,863within the sector's middle half▲ 259%€3,536within the sector's middle half▼ 81.3%€42,858within the sector's middle half▲ 12×
Solvency10.4%below the sector's middle half-34.2%within the sector's middle half▲ 23.8pp49.7%within the sector's middle half▲ 15.6pp39.2%within the sector's middle half▼ 10.6pp72.6%within the sector's middle half▲ 33.5pp
Current ratio0.63below the sector's middle half-1.17within the sector's middle half▲ 0.531.80within the sector's middle half▲ 0.631.14within the sector's middle half▼ 0.663.55within the sector's middle half▲ 2.41
Return on assets (ROA)5.5%within the sector's middle half-22.5%within the sector's middle half▲ 17.0pp12.3%within the sector's middle half▼ 10.2pp17.2%within the sector's middle half▲ 5.0pp38.1%above the sector's middle half▲ 20.9pp
above within below The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). 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.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €61,394
Fixed assets €1,736 ▼ 93.1%
Current assets €59,658 ▲ 107%
Equity and liabilities €61,394
Equity €44,594 ▲ 111%
Debt €16,800 ▼ 48.9%
Debt's share of the balance-sheet total falls from 60.8% to 27.4%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
ROE
52.5%▲
2024 · 43.9%
Debt ≤ 1 year
€16,800▼
2024 · €25,237
Debt > 1 year
€0▼
2024 · €7,636
Income taxes
€7,498▲
2024 · €3,220
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€70,661-€908-€5,848
Depreciation and write-downs of the year€3,339€14,132€14,382€14,435€358

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Comparable companies

These companies have the same main activity as DESEM: activities of holding companies (NACE 64210). They are comparable in size and age: total assets between €49,200 and €67,000, founded between 2020 and 2022.

CompanyFoundedTotal assetsEquityGross marginNet resultFTEFinancial year
DESEM Middelkerke2021€61,394€44,594€36,356€23,413-2025
UNDER BELLY Kortrijk2021€58,228-€99,581€35,155€21,921-2024
MARQUETTI Koksijde2020€56,249€53,408€35,847€18,455-2025
BASTARDS INC. Knokke-Heist2022€49,186€34,750€33,513€23,30402025
Ingenium Solutions Schoten2021€63,225€11,921€37,359€9,421-2025
MK-INVEST Heusden-Zolder2021€55,015€30,500€40,193€8,907-2025
GV Management Tessenderlo-Ham2021€67,009€37,025€32,063€18,713-2025

They were chosen from the 20,097 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 47 lines

Source: Annual accounts 2025 (PDF), filed on 18-05-2026.

Balance sheet Code20242025
Assets
Total assets20/58€54,054€61,394▲
Fixed assets21/28€25,281€1,736▼
Tangible fixed assets22/27€25,281€1,736▼
Furniture and vehicles24€356€1,736▲
Leasing and similar rights25€24,925€0▼
Current assets29/58€28,773€59,658▲
Amounts receivable within one year40/41€8,389€39,603▲
Trade receivables40€0€12,100▲
Other amounts receivable41€8,389€27,503▲
Cash at bank and in hand54/58€18,952€18,057▼
Deferred charges and accrued income490/1€1,433€1,998▲
Equity and liabilities
Total equity and liabilities10/49€54,054€61,394▲
Equity10/15€21,181€44,594▲
Contributions10/11€5,000€5,000=
Reserves13€16,181€39,594▲
Distributable reserves133€16,181€39,594▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€32,873€16,800▼
Amounts payable after more than one year17€7,636€0▼
Financial debts170/4€7,636€0▼
Amounts payable within one year42/48€25,237€16,800▼
Current portion of amounts payable after more than one year42€10,065€0▼
Trade debts44€1,172€3,364▲
Suppliers440/4€1,172€3,364▲
Taxes, remuneration and social security45€5,000€7,103▲
Taxes450/3€5,000€7,103▲
Remuneration and social security454/9€0-
Other amounts payable47/48€9,000€6,334▼
Income statement Code20242025
Non-recurring operating income76A-€4,023
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14,435€358▼
Other operating charges640/8€2,056€4,180▲
Gross operating margin9900€29,483€36,356▲
Operating profit (loss)9901€12,992€31,818▲
Financial income75/76B€0€1,081▲
Recurring financial income75€0€1,081▲
Financial charges65/66B€469€1,987▲
Recurring financial charges65€469€1,987▲
Profit (loss) for the period before taxes9903€12,523€30,911▲
Income taxes67/77€3,220€7,498▲
Profit (loss) for the period9904€9,303€23,413▲
Profit (loss) for the period to be appropriated9905€9,303€23,413▲
Appropriation of the result
Profit (loss) to be appropriated9906€9,303€23,413▲
Transfer from equity791/2€20,000€0▼
Transfer to equity691/2€303€23,413▲
To other reserves6921€303€23,413▲
Profit to be distributed694/7€29,000€0▼
Return on contributions (dividend)694€29,000€0▼

The notes to these accounts have 10 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Line20212022202320242025Change
Non-recurring operating income76A----€4,023-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3,339€14,132€14,382€14,435€358▼ 97.5%
Other operating charges640/8€3,007€1,724€1,797€2,056€4,180▲ 103%
Gross operating margin9900€13,947€42,727€30,243€29,483€36,356▲ 23.3%
Operating profit (loss)9901€7,600€26,871€14,064€12,992€31,818▲ 145%
Financial income75/76B--€2€0€1,081-
Recurring financial income75--€2€0€1,081-
Financial charges65/66B€317€702€584€469€1,987▲ 324%
Recurring financial charges65€317€702€584€469€1,987▲ 324%
Profit (loss) for the period before taxes9903€7,283€26,169€13,482€12,523€30,911▲ 147%
Income taxes67/77€1,713€5,935€3,410€3,220€7,498▲ 133%
Profit (loss) for the period9904€5,570€20,235€10,073€9,303€23,413▲ 152%
Profit (loss) for the period to be appropriated9905€5,570€20,235€10,073€9,303€23,413▲ 152%
Line20212022202320242025Change
Assets
Total assets20/58€101,556€90,103€82,173€54,054€61,394▲ 13.6%
Fixed assets21/28€67,322€53,189€39,716€25,281€1,736▼ 93.1%
Tangible fixed assets22/27€67,322€53,189€39,716€25,281€1,736▼ 93.1%
Furniture and vehicles24--€658€356€1,736▲ 388%
Leasing and similar rights25€67,322€53,189€39,057€24,925€0▼ 100%
Current assets29/58€34,234€36,914€42,458€28,773€59,658▲ 107%
Amounts receivable within one year40/41€13,078€12,100€15,595€8,389€39,603▲ 372%
Trade receivables40€13,078€12,100€12,100€0€12,100-
Other amounts receivable41--€3,495€8,389€27,503▲ 228%
Cash at bank and in hand54/58€19,819€23,427€25,472€18,952€18,057▼ 4.7%
Deferred charges and accrued income490/1€1,337€1,386€1,390€1,433€1,998▲ 39.5%
Equity and liabilities
Total equity and liabilities10/49€101,556€90,103€82,173€54,054€61,394▲ 13.6%
Equity10/15€10,570€30,805€40,877€21,181€44,594▲ 111%
Contributions10/11€5,000€5,000€5,000€5,000€5,000=
Reserves13€5,570€25,805€35,877€16,181€39,594▲ 145%
Distributable reserves133€5,570€25,805€35,877€16,181€39,594▲ 145%
Profit (loss) carried forward14---€0€0-
Amounts payable17/49€90,986€59,299€41,296€32,873€16,800▼ 48.9%
Amounts payable after more than one year17€36,843€27,635€17,701€7,636€0▼ 100%
Financial debts170/4€36,843€27,635€17,701€7,636€0▼ 100%
Amounts payable within one year42/48€54,142€31,663€23,595€25,237€16,800▼ 33.4%
Current portion of amounts payable after more than one year42€10,274€9,805€9,934€10,065€0▼ 100%
Trade debts44€15,086€418€99€1,172€3,364▲ 187%
Suppliers440/4€15,086€418€99€1,172€3,364▲ 187%
Taxes, remuneration and social security45€2,506€13,356€13,561€5,000€7,103▲ 42.1%
Taxes450/3€2,506€13,356€8,706€5,000€7,103▲ 42.1%
Remuneration and social security454/9--€4,855€0--
Other amounts payable47/48€26,275€8,084€0€9,000€6,334▼ 29.6%
Line20212022202320242025Change
Profit (loss) for the period9904€5,570€20,235€10,073€9,303€23,413▲ 152%
+ Depreciation and write-downs630€3,339€14,132€14,382€14,435€358▼ 97.5%
Operating cash flow (approximation)€8,909€34,367€24,455€23,738€23,771▲ 0.1%
Investment in fixed assets (approximation)-€0-€908€0€23,186-
Change in cash-€3,608€2,045-€6,520-€895▲ 86.3%

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

Download as CSV

Filings with the National Bank (5)
Financial year Type Filed Reference Document
31-12-2025 micro format 18-05-2026 2026-00117732 PDF
31-12-2024 micro format 14-03-2025 2025-00050662 PDF
31-12-2023 micro format 29-03-2024 2024-00057553 PDF
31-12-2022 micro format 10-03-2023 2023-00038324 PDF
31-12-2021 micro format 30-05-2022 2022-20042826 PDF

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