DETEMA
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 29-07-2026 at the NBB all 17 filings
Turnover
≈ €280,000
Estimated: probably between €220,000 and €380,000
Total assets
€847,426▲ 143%
2024 · €348,568
Net result
€29,906▼ 54.1%
2024 · €65,126
Working capital
€132,311▼ 13.9%
2024 · €153,614
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€57,622
▼ 40.5%
2025
20182025
Net result
€29,906
▼ 54.1%
2025
middle half of the sector
20182025
Equity
€254,827
▲ 13.3%
2025
highest quarter of the sector
20182025
Total assets
€847,426
▲ 143%
2025
highest quarter of the sector
20182025
Debt
€592,419
▲ 382%
2025
20182025
Working capital
€132,311
▼ 13.9%
2025
highest quarter of the sector
20182025
Solvency
30.1%
▼ 34.5pp
2025
middle half of the sector
20182025
Current ratio
1.74
▼ 0.52
2025
middle half of the sector
20182025
Return on assets (ROA)
3.5%
▼ 15.2pp
2025
middle half of the sector
20182025
Staff (FTE)
0.9
▲ 800%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€961-€2,267▲ 136%€28,044▲ 12×€19,893▼ 29.1%€20,006▲ 0.6%€86,316▲ 331%€96,782▲ 12.1%€57,622▼ 40.5%
Net result-€3-€859€20,693within the sector's middle half▲ 24×€14,094within the sector's middle half▼ 31.9%€12,355within the sector's middle half▼ 12.3%€59,571above the sector's middle half▲ 382%€65,126above the sector's middle half▲ 9.3%€29,906within the sector's middle half▼ 54.1%
Equity€52,222-€53,081▲ 1.6%€73,774within the sector's middle half▲ 39.0%€87,869within the sector's middle half▲ 19.1%€100,224within the sector's middle half▲ 14.1%€159,794within the sector's middle half▲ 59.4%€224,920above the sector's middle half▲ 40.8%€254,827above the sector's middle half▲ 13.3%
Total assets€75,014-€77,550▲ 3.4%€133,195within the sector's middle half▲ 71.8%€138,881within the sector's middle half▲ 4.3%€182,882within the sector's middle half▲ 31.7%€267,893within the sector's middle half▲ 46.5%€348,568within the sector's middle half▲ 30.1%€847,426above the sector's middle half▲ 143%
Debt€22,567-€24,356▲ 7.9%€56,627▲ 132%€48,597▼ 14.2%€80,801▲ 66.3%€106,800▲ 32.2%€122,909▲ 15.1%€592,419▲ 382%
Working capital€27,501-€38,184▲ 38.8%€54,713within the sector's middle half▲ 43.3%€34,711within the sector's middle half▼ 36.6%€41,732within the sector's middle half▲ 20.2%€84,816within the sector's middle half▲ 103%€153,614above the sector's middle half▲ 81.1%€132,311above the sector's middle half▼ 13.9%
Solvency69.6%-68.4%▼ 1.2pp55.4%within the sector's middle half▼ 13.1pp63.3%within the sector's middle half▲ 7.9pp54.8%within the sector's middle half▼ 8.5pp59.6%within the sector's middle half▲ 4.8pp64.5%within the sector's middle half▲ 4.9pp30.1%within the sector's middle half▼ 34.5pp
Current ratio2.23-2.59▲ 0.361.97within the sector's middle half▼ 0.631.71within the sector's middle half▼ 0.251.52within the sector's middle half▼ 0.201.80within the sector's middle half▲ 0.282.26within the sector's middle half▲ 0.461.74within the sector's middle half▼ 0.52
Return on assets (ROA)0.0%-1.1%▲ 1.1pp15.5%within the sector's middle half▲ 14.4pp10.1%within the sector's middle half▼ 5.4pp6.8%within the sector's middle half▼ 3.4pp22.2%within the sector's middle half▲ 15.5pp18.7%within the sector's middle half▼ 3.6pp3.5%within the sector's middle half▼ 15.2pp
Staff (FTE)0.10.9▲ 800%
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). 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 40% lower than in 2024.
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 €847,426
Fixed assets
€536,005 ▲ 637%
Current assets
€311,421 ▲ 12.9%
Equity and liabilities €847,426
Equity
€254,827 ▲ 13.3%
Provisions
€181 ▼ 75.6%
Debt
€592,419 ▲ 382%
Debt's share of the balance-sheet total rises from 35.3% to 69.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€90,043▼
2024 · €122,969
Cash flow
€62,327▼
2024 · €91,313
Quick ratio
1.09▼
2024 · 1.23
Debt to equity
2.32▲
2024 · 0.55
ROE
11.7%▼
2024 · 29.0%
Interest coverage
4.29▼
2024 · 20.01
Debt ≤ 1 year
€179,110▲
2024 · €122,214
Debt > 1 year
€412,580
Income taxes
€12,272▼
2024 · €26,455
Staff costs
€34,173▲
2024 · €4,035
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2024 | 31-12-2025 |
|---|---|---|
| Employees at the balance-sheet date | 1 | 2 |
| full-time | 1 | 1 |
| part-time | - | 1 |
| in full-time equivalents | 1 | 1.4 |
| Average over the year, in full-time equivalents | 0.1 | 0.9 |
| On a permanent contract | 1 | 2 |
| Joined | 1 | 2 |
| Left | 1 | 0 |
Source: social balance sheet in the 2024 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €47,495 | €19,471 | €34,977 | €21,837 | €504,200 |
| Intangible fixed assets | - | €1,163 | €2,713 | - | - |
| Depreciation and write-downs of the year | €10,956 | €15,859 | €20,949 | €26,187 | €32,420 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 to 2025 · 2 entries · €161 awarded · €161 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €0 | €161 |
| 2024 | 1 | €161 | €0 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | - | - | €4,035 | €34,173 | ▲ 747% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,363 | €12,553 | €9,113 | €10,956 | €15,859 | €20,949 | €26,187 | €32,420 | ▲ 23.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | €302 | - | - |
| Other operating charges640/8 | - | - | - | €2,054 | €2,381 | €2,247 | €2,513 | €59,462 | ▲ 24× |
| Gross operating margin9900 | €14,824 | €16,512 | €38,804 | €32,903 | €38,246 | €109,512 | €129,818 | €183,678 | ▲ 41.5% |
| Operating profit (loss)9901 | €961 | €2,267 | €28,044 | €19,893 | €20,006 | €86,316 | €96,782 | €57,622 | ▼ 40.5% |
| Financial income75/76B | - | - | - | €13 | €11 | €96 | €384 | €5,092 | ▲ 13× |
| Recurring financial income75 | €27 | €29 | €59 | €13 | €11 | €96 | €136 | €219 | ▲ 61.4% |
| Non-recurring financial income76B | - | - | - | - | - | - | €248 | €4,873 | ▲ 20× |
| Financial charges65/66B | - | - | - | €1,317 | €2,507 | €3,360 | €6,144 | €21,096 | ▲ 243% |
| Recurring financial charges65 | €670 | €783 | €957 | €1,317 | €2,507 | €3,360 | €6,144 | €20,995 | ▲ 242% |
| Non-recurring financial charges66B | - | - | - | - | - | - | - | €100 | - |
| Profit (loss) for the period before taxes9903 | €318 | €1,512 | €27,146 | €18,588 | €17,510 | €83,052 | €91,022 | €41,619 | ▼ 54.3% |
| Transfer from deferred taxes780 | - | - | - | €378 | €559 | €559 | €559 | €559 | = |
| Income taxes67/77 | €433 | €766 | €3,771 | €4,872 | €5,714 | €24,040 | €26,455 | €12,272 | ▼ 53.6% |
| Profit (loss) for the period9904 | -€3 | €859 | €20,693 | €14,094 | €12,355 | €59,571 | €65,126 | €29,906 | ▼ 54.1% |
| Transfer from tax-exempt reserves789 | - | - | - | €1,513 | €2,235 | €2,235 | €2,235 | €2,235 | = |
| Profit (loss) for the period to be appropriated9905 | €215 | €1,077 | €9,735 | €15,607 | €14,591 | €61,806 | €67,361 | €32,142 | ▼ 52.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €75,014 | €77,550 | €133,195 | €138,881 | €182,882 | €267,893 | €348,568 | €847,426 | ▲ 143% |
| Fixed assets21/28 | €25,146 | €15,393 | €21,883 | €55,574 | €60,349 | €77,090 | €72,741 | €536,005 | ▲ 637% |
| Intangible fixed assets21 | - | - | - | - | €1,136 | €3,096 | €2,321 | €1,546 | ▼ 33.4% |
| Tangible fixed assets22/27 | €25,146 | €15,393 | €21,883 | €55,574 | €59,213 | €73,994 | €70,419 | €534,459 | ▲ 659% |
| Land and buildings22 | - | - | - | €2,895 | €7,874 | - | - | €451,483 | - |
| Plant, machinery and equipment23 | - | - | - | €5,846 | €15,756 | €36,538 | €39,956 | €46,316 | ▲ 15.9% |
| Furniture and vehicles24 | - | - | - | €46,834 | €35,583 | €25,806 | €20,234 | €27,850 | ▲ 37.6% |
| Other tangible fixed assets26 | - | - | - | - | - | €11,650 | €10,230 | €8,809 | ▼ 13.9% |
| Current assets29/58 | €49,867 | €62,157 | €111,313 | €83,307 | €122,533 | €190,802 | €275,828 | €311,421 | ▲ 12.9% |
| Stocks and contracts in progress3 | €6,160 | €20,177 | €39,071 | €49,149 | €69,264 | €81,836 | €126,019 | €115,481 | ▼ 8.4% |
| Stocks30/36 | - | - | - | €49,149 | €69,264 | €81,836 | €126,019 | €115,481 | ▼ 8.4% |
| Amounts receivable within one year40/41 | €4,374 | €4,862 | €12,008 | €2,430 | €21,700 | €18,815 | €14,539 | €41,792 | ▲ 187% |
| Trade receivables40 | - | - | - | €1,240 | €21,636 | €17,042 | €13,389 | €41,783 | ▲ 212% |
| Other amounts receivable41 | - | - | - | €1,191 | €65 | €1,773 | €1,150 | €9 | ▼ 99.2% |
| Cash at bank and in hand54/58 | €34,326 | €31,810 | €58,965 | €29,499 | €28,141 | €87,409 | €132,267 | €149,159 | ▲ 12.8% |
| Deferred charges and accrued income490/1 | - | - | - | €2,229 | €3,427 | €2,743 | €3,003 | €4,990 | ▲ 66.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €75,014 | €77,550 | €133,195 | €138,881 | €182,882 | €267,893 | €348,568 | €847,426 | ▲ 143% |
| Equity10/15 | €52,222 | €53,081 | €73,774 | €87,869 | €100,224 | €159,794 | €224,920 | €254,827 | ▲ 13.3% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €20,460 | €20,460 | €20,460 | = |
| Reserves13 | €32,296 | €32,078 | €52,771 | €66,866 | €79,221 | €136,931 | €202,057 | €231,964 | ▲ 14.8% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €9,664 | €7,429 | €5,193 | €2,958 | €723 | ▼ 75.6% |
| Distributable reserves133 | - | - | - | €55,341 | €69,932 | €131,738 | €199,099 | €231,241 | ▲ 16.1% |
| Profit (loss) carried forward14 | €1,326 | €2,403 | €2,403 | €2,403 | €2,403 | €2,403 | €2,403 | €2,403 | = |
| Provisions and deferred taxes16 | €225 | €112 | €2,794 | €2,416 | €1,857 | €1,298 | €740 | €181 | ▼ 75.6% |
| Deferred taxes168 | - | - | - | €2,416 | €1,857 | €1,298 | €740 | €181 | ▼ 75.6% |
| Amounts payable17/49 | €22,567 | €24,356 | €56,627 | €48,597 | €80,801 | €106,800 | €122,909 | €592,419 | ▲ 382% |
| Amounts payable after more than one year17 | - | - | - | - | - | - | - | €412,580 | - |
| Financial debts170/4 | - | - | - | - | - | - | - | €412,580 | - |
| Amounts payable within one year42/48 | €22,367 | €23,973 | €56,599 | €48,597 | €80,801 | €105,987 | €122,214 | €179,110 | ▲ 46.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | - | €22,759 | - |
| Financial debts43 | - | - | - | - | €1,706 | - | - | - | - |
| Credit institutions430/8 | - | - | - | - | €1,706 | - | - | - | - |
| Trade debts44 | €1,779 | €2,005 | €16,364 | €2,852 | €20,755 | €21,650 | €7,484 | €32,355 | ▲ 332% |
| Suppliers440/4 | - | - | - | €2,852 | €20,755 | €21,650 | €7,484 | €32,355 | ▲ 332% |
| Advances received on contracts in progress46 | - | - | - | - | - | - | €13,999 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €6,235 | €8,257 | €17,522 | €10,865 | €21,777 | ▲ 100% |
| Taxes450/3 | - | - | - | €6,235 | €8,257 | €17,522 | €10,865 | €18,690 | ▲ 72.0% |
| Remuneration and social security454/9 | - | - | - | - | - | - | - | €3,087 | - |
| Other amounts payable47/48 | - | - | - | €39,510 | €50,084 | €66,815 | €89,866 | €102,219 | ▲ 13.7% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €813 | €695 | €728 | ▲ 4.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3 | €859 | €20,693 | €14,094 | €12,355 | €59,571 | €65,126 | €29,906 | ▼ 54.1% |
| + Depreciation and write-downs630 | €12,363 | €12,553 | €9,113 | €10,956 | €15,859 | €20,949 | €26,187 | €32,420 | ▲ 23.8% |
| Operating cash flow (approximation) | €12,359 | €13,413 | €29,806 | €25,051 | €28,214 | €80,519 | €91,313 | €62,327 | ▼ 31.7% |
| Investment in fixed assets (approximation) | - | -€2,800 | -€15,603 | -€44,648 | -€20,634 | -€37,690 | -€21,837 | -€495,685 | ▼ 2,170% |
| Change in cash | - | -€2,516 | €27,155 | -€29,466 | -€1,359 | €59,268 | €44,858 | €16,891 | ▼ 62.3% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 10,904 companies had the same profile as DETEMA has now. Two years later, 95.1% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
95.1%
was still going
4.0%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of DETEMA itself: < 0.1% 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 10,904 companies, not a prediction for DETEMA. 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 |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-07-2026 | 2026-00356833 | |
| 31-12-2024 | micro format | 30-07-2025 | 2025-00336110 | |
| 31-12-2023 | micro format | 31-07-2024 | 2024-00318789 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00429371 | |
| 31-12-2021 | micro format | 17-07-2022 | 2022-20199104 | |
| 31-12-2020 | micro format | 26-07-2021 | 2021-39800176 | |
| 31-12-2019 | micro format | 24-07-2020 | 2020-34100595 | |
| 31-12-2018 | micro format | 10-07-2019 | 2019-31300077 | |
| 31-12-2017 | micro format | 16-07-2018 | 2018-34100313 | |
| 31-12-2016 | micro format | 30-06-2017 | 2017-26000587 |