Summary
DEVAC is a financial institution. The bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €106,242 and a net result of -€12,890. Equity has been growing by about 38% per year since 2020. Its solvency ranks better than 68% of 9,754 sector peers (NACE 64, financial year 2025). The company has been active since 2018 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 26-10-2018 Normal situation
- Activity
- Activities of holding companies NACE 64210and 1 other
- Establishment unit
- 2.281.273.417 8700 Tielt, since 26-10-2018
- Financial year end
- 30 September
- Peppol
- Reachable
Financial position
Financial institution: outside the modelBankruptcy probability: sector outside the model
Annual accounts to 30-09-2025
- Loss
- €12,890
- Equity
- €106,242
- ▼ 12.1%
- Total assets
- €149,266
- ▼ 16.3%
SignalsneutralLatest accounts filed on timeShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score measures liquidity, leverage and margins against the norms for trading and manufacturing companies. A bank, insurer or financial holding has a very different balance sheet. Those ratios and the score mean nothing here. So there is no financial strength either.
Bankruptcy probability within 12 months
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
1 signal.
neutral
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 28-03-2026, 33 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
33 days early
2024
43 days late
2023
80 days late
2022
11 days early
2021
26 days early
2020
3 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 6 accounts on average 8 days after the deadline. In the sector (NACE 64), the median for financial year 2024 was 14 days before the deadline, and 28% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 19 April (4 of the last 5 accounts filed within 54 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end02-11-2026 today30-04-2027 deadline
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 28-03-2026 PDF all 6 filings
Equity
€106,242▼ 12.1%
2024 · €120,799
Net result
-€12,890
2024 · €34,772
Total assets
€149,266▼ 16.3%
2024 · €178,357
Solvency
71.2%▲ 3.4pp
2024 · 67.7%
Trend over the years
2021 to 2025, 5 financial years 2020 to 2025, 6 financial years
The operating result for 2025 is a loss of €14,768, after a profit of €50,304 in 2024. It is the lowest result since 2021.
Operating result-€14,768
2025
Net result-€12,890
2025
Total assets€149,266
2025
Equity€106,242
2025
Debt€43,024
2025
Working capital€80,997
2025
Return on assets (ROA)-8.6%
2025
Solvency71.2%
2025
Current ratio2.88
2025
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
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
Line202020212022202320242025
Operating result€27,483-€34,112▲ 24.1%€39,238▲ 15.0%€14,863▼ 62.1%€50,304▲ 238%-€14,768
Net result€19,976within the sector's middle half-€28,701within the sector's middle half▲ 43.7%€28,217within the sector's middle half▼ 1.7%€7,550within the sector's middle half▼ 73.2%€34,772within the sector's middle half▲ 361%-€12,890below the sector's middle half
Equity€24,576below the sector's middle half-€39,677below the sector's middle half▲ 61.4%€80,194within the sector's middle half▲ 102%€87,745within the sector's middle half▲ 9.4%€120,799within the sector's middle half▲ 37.7%€106,242within the sector's middle half▼ 12.1%
Total assets€102,177below the sector's middle half-€117,046below the sector's middle half▲ 14.6%€129,026within the sector's middle half▲ 10.2%€167,141within the sector's middle half▲ 29.5%€178,357within the sector's middle half▲ 6.7%€149,266within the sector's middle half▼ 16.3%
Debt€77,601-€77,370▼ 0.3%€48,831▼ 36.9%€79,397▲ 62.6%€57,559▼ 27.5%€43,024▼ 25.3%
Working capital€8,168within the sector's middle half-€6,059within the sector's middle half▼ 25.8%€48,477within the sector's middle half▲ 700%€60,070within the sector's middle half▲ 23.9%€95,188within the sector's middle half▲ 58.5%€80,997within the sector's middle half▼ 14.9%
Solvency24.1%within the sector's middle half-33.9%within the sector's middle half▲ 9.8pp62.2%within the sector's middle half▲ 28.3pp52.5%within the sector's middle half▼ 9.7pp67.7%within the sector's middle half▲ 15.2pp71.2%within the sector's middle half▲ 3.4pp
Current ratio1.22within the sector's middle half-1.12within the sector's middle half▼ 0.112.30within the sector's middle half▲ 1.191.76within the sector's middle half▼ 0.552.65within the sector's middle half▲ 0.902.88within the sector's middle half▲ 0.23
Return on assets (ROA)19.6%within the sector's middle half-24.5%above the sector's middle half▲ 5.0pp21.9%within the sector's middle half▼ 2.7pp4.5%within the sector's middle half▼ 17.4pp19.5%within the sector's middle half▲ 15.0pp-8.6%below the sector's middle half▼ 28.1pp
Staff (FTE)0.6within the sector's middle half-
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.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €149,266
Fixed assets
€25,245 ▼ 1.4%
Current assets
€124,021 ▼ 18.8%
Equity and liabilities €149,266
Equity
€106,242 ▼ 12.1%
Debt
€43,024 ▼ 25.3%
Debt's share of the balance-sheet total falls from 32.3% to 28.8%. Equity and debt are lower.
Key figures and ratios
ROE
-12.1%▼
2024 · 28.8%
Debt ≤ 1 year
€43,024▼
2024 · €57,559
Income taxes
€13▼
2024 · €15,833
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €19,730 | €12,941 | €1,379 | - | €1,707 |
| Depreciation and write-downs of the year | €17,919 | €16,483 | €17,092 | €2,063 | €2,072 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €2,420 awarded · €2,420 paidAnnual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €68 | -€153 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30,704 | €17,919 | €16,483 | €17,092 | €2,063 | €2,072 | ▲ 0.4% |
| Other operating charges640/8 | - | €1,952 | €2,018 | €2,508 | €2,235 | €2,186 | ▼ 2.2% |
| Gross operating margin9900 | €123,192 | €54,050 | €57,585 | €34,463 | €54,603 | -€10,510 | - |
| Operating profit (loss)9901 | €27,483 | €34,112 | €39,238 | €14,863 | €50,304 | -€14,768 | - |
| Financial income75/76B | - | €3,194 | €1,767 | €2,050 | €4,146 | €4,907 | ▲ 18.4% |
| Recurring financial income75 | €1,754 | €3,194 | €1,767 | €2,050 | €4,146 | €4,907 | ▲ 18.4% |
| Financial charges65/66B | - | €579 | €612 | €1,834 | €3,845 | €3,015 | ▼ 21.6% |
| Recurring financial charges65 | €1,211 | €579 | €612 | €1,834 | €3,845 | €3,015 | ▼ 21.6% |
| Profit (loss) for the period before taxes9903 | €28,026 | €36,727 | €40,392 | €15,078 | €50,605 | -€12,877 | - |
| Income taxes67/77 | €8,050 | €8,026 | €12,175 | €7,528 | €15,833 | €13 | ▼ 99.9% |
| Profit (loss) for the period9904 | €19,976 | €28,701 | €28,217 | €7,550 | €34,772 | -€12,890 | - |
| Profit (loss) for the period to be appropriated9905 | €19,976 | €28,701 | €28,217 | €7,550 | €34,772 | -€12,890 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €102,177 | €117,046 | €129,026 | €167,141 | €178,357 | €149,266 | ▼ 16.3% |
| Formation expenses20 | €1,459 | €972 | €486 | €0 | €0 | €0 | - |
| Fixed assets21/28 | €56,066 | €58,363 | €42,901 | €27,674 | €25,611 | €25,245 | ▼ 1.4% |
| Tangible fixed assets22/27 | €56,066 | €58,363 | €42,901 | €27,674 | €25,611 | €25,245 | ▼ 1.4% |
| Plant, machinery and equipment23 | - | €11,343 | €10,729 | €10,115 | €9,501 | €8,887 | ▼ 6.5% |
| Furniture and vehicles24 | - | €41,811 | €16,426 | €2,634 | €2,005 | €1,376 | ▼ 31.4% |
| Other tangible fixed assets26 | - | €5,208 | €15,746 | €14,926 | €14,105 | €14,983 | ▲ 6.2% |
| Current assets29/58 | €44,652 | €57,712 | €85,638 | €139,467 | €152,746 | €124,021 | ▼ 18.8% |
| Stocks and contracts in progress3 | - | €2,354 | €31,293 | €39,354 | €38,875 | €11,682 | ▼ 69.9% |
| Stocks30/36 | - | €2,354 | €31,293 | €39,354 | €38,875 | €11,682 | ▼ 69.9% |
| Amounts receivable within one year40/41 | €41,776 | €45,913 | €47,593 | €88,826 | €111,206 | €105,271 | ▼ 5.3% |
| Trade receivables40 | - | €10,763 | €33,382 | €35,405 | €28,895 | €7,607 | ▼ 73.7% |
| Other amounts receivable41 | - | €35,151 | €14,211 | €53,421 | €82,311 | €97,664 | ▲ 18.7% |
| Cash at bank and in hand54/58 | €2,568 | €8,006 | €5,781 | €10,067 | €902 | €5,891 | ▲ 553% |
| Deferred charges and accrued income490/1 | - | €1,438 | €972 | €1,220 | €1,764 | €1,176 | ▼ 33.3% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €102,177 | €117,046 | €129,026 | €167,141 | €178,357 | €149,266 | ▼ 16.3% |
| Equity10/15 | €24,576 | €39,677 | €80,194 | €87,745 | €120,799 | €106,242 | ▼ 12.1% |
| Contributions10/11 | - | €6,200 | €18,500 | €18,500 | €18,500 | €18,500 | = |
| Contributions outside capital11 | - | €6,200 | - | - | - | - | - |
| Other1109/19 | - | €6,200 | - | - | - | - | - |
| Reserves13 | €999 | €999 | €1,850 | €1,850 | €1,850 | €1,850 | = |
| Non-distributable reserves130/1 | - | €999 | €1,850 | - | - | - | - |
| Legal reserve130 | - | €999 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €1,850 | - | - | - | - |
| Distributable reserves133 | - | - | - | €1,850 | €1,850 | €1,850 | = |
| Profit (loss) carried forward14 | €17,377 | €32,478 | €59,844 | €67,395 | €100,449 | €85,892 | ▼ 14.5% |
| Amounts payable17/49 | €77,601 | €77,370 | €48,831 | €79,397 | €57,559 | €43,024 | ▼ 25.3% |
| Amounts payable after more than one year17 | €40,671 | €25,540 | €10,264 | - | - | - | - |
| Financial debts170/4 | - | €25,540 | €10,264 | - | - | - | - |
| Amounts payable within one year42/48 | €36,485 | €51,652 | €37,162 | €79,397 | €57,559 | €43,024 | ▼ 25.3% |
| Current portion of amounts payable after more than one year42 | - | €15,131 | €15,275 | €30,347 | - | - | - |
| Financial debts43 | - | - | - | - | €20,320 | €20,468 | ▲ 0.7% |
| Credit institutions430/8 | - | - | - | - | €20,320 | €20,468 | ▲ 0.7% |
| Trade debts44 | €50 | €6,312 | €1,332 | €32,308 | €12,769 | €6,553 | ▼ 48.7% |
| Suppliers440/4 | - | €6,312 | €1,332 | €32,308 | €12,769 | €6,553 | ▼ 48.7% |
| Taxes, remuneration and social security45 | - | €16,610 | €20,554 | €16,742 | €22,753 | €14,337 | ▼ 37.0% |
| Taxes450/3 | - | €16,610 | €20,554 | €16,742 | €22,753 | €14,337 | ▼ 37.0% |
| Other amounts payable47/48 | - | €13,600 | - | - | €1,718 | €1,666 | ▼ 3.0% |
| Accrued charges and deferred income492/3 | - | €178 | €1,405 | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19,976 | €28,701 | €28,217 | €7,550 | €34,772 | -€12,890 | - |
| + Depreciation and write-downs630 | €30,704 | €17,919 | €16,483 | €17,092 | €2,063 | €2,072 | ▲ 0.4% |
| Operating cash flow (approximation) | €50,679 | €46,621 | €44,701 | €24,643 | €36,835 | -€10,818 | - |
| Investment in fixed assets (approximation) | - | -€20,216 | -€1,022 | -€1,865 | €0 | -€1,707 | - |
| Change in cash | - | €5,438 | -€2,226 | €4,286 | -€9,165 | €4,989 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 28-03-2026 | 2026-00064889 | |
| 30-09-2024 | micro format | 12-06-2025 | 2025-00152722 | |
| 30-09-2023 | micro format | 19-07-2024 | 2024-00268900 | |
| 30-09-2022 | micro format | 19-04-2023 | 2023-00061271 | |
| 30-09-2021 | micro format | 04-04-2022 | 2022-20001022 | |
| 30-09-2020 | micro format | 27-04-2021 | 2021-11400094 |
Board & ownership
Directors
Directors
1 director, last change in 2023
DE DEURWAERDER Christian
Current
Statutory director · since 24-11-2023 · earlier statutory manager, until 04-12-2023 · listed in the 2025 annual accounts, filed on 28-03-2026
Signing authorityThe articles say who may bind the company, for example by signing a contract.
Each director alone
deed of 04-12-2023Owners and capital
Capital transactions
Capital over time
- 04-12-2023 Converted to unavailable equity · €18,550
Mandate history
1 person, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| DE DEURWAERDER Christian |
|
Network & group
DEVAC shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of DEVAC. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
28-03
micro format · 33 days before the deadline
2025
30-09
Financial
Weakest financial yearnet -€12,890
The net result drops to -€12,890, the lowest from 2020 to 2025.
12-06
micro format · 43 days late
2024
30-09
Financial
Highest result from 2020 to 2025net €34,772 ▲361%
The operating result of €50,304 and the net result of €34,772 are both a record.
30-09
Financial
Equity above €100,000equity €120,799 ▲37.7%
With a profit in every financial year since 2020, equity grows to €120,799.
19-07
micro format · 80 days late
2023
04-12
Gazette deed
Change of role: DE DEURWAERDER Christian, from statutory manager to statutory directorCapital conversion · Reserve release · Purpose change12 points ▸
Gazette deed
Change of role: DE DEURWAERDER Christian, from statutory manager to statutory director
Capital conversion · Reserve release · Purpose change12 points ▸
- General meeting, “buitengewoon, eenparigheid van stemmen” (deed in Dutch)
- Other provision, “besloten vennootschap(BV), aanpassing statuten aan WVV en behoud rechtsvorm” (deed in Dutch)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “opheffing, middelen beschikbaar voor uitkering” (deed in Dutch)
- Other provision, “vrijstelling voorlezing verslag bestuursorgaan over wijziging voorwerp, ontslag voorzitter van voorlezing” (deed in Dutch)
- Purpose change
- Director resignation, DE DEURWAERDER Christian (statutory manager)
- Director appointment, DE DEURWAERDER Christian (statutory director), mentioned 2 times in the deed
- Other provision, “uitoefening mandaat, kwijting ontslagnemende zaakvoerder(s)” (deed in Dutch)
- Amendment of the articles
- Capital
- Registered office clause, “8700 Tielt,Kasteelstraat 137, Zesde besluit” (deed in Dutch)
19-04
micro format · 11 days before the deadline
2022
30-09
Financial
Liquidity more than doubledcurrent ratio 2.30
The current ratio rises from 1.12 to 2.30. Short-term debt falls from €51,652 to €37,162.
04-04
micro format · 26 days before the deadline
2021
27-04
micro format · 3 days before the deadline
2018
30-10
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
DEVAC in Dutch
Enterprise number
0712.622.376
Legal form
Private limited company
Status
Active, normale toestand
Founded
26-10-2018
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 04-12-2023 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Administratieve zetels,agentschappen,werkhuizen,stapelplaatsen,bijkantoren, Vlaams Gewest”
deed of 04-12-2023 (in Dutch)Registered office and establishments
Registered office
Kasteelstraat 137, 8700 Tielt, Belgium
Establishment unit
DEVAC, Kasteelstraat 137, 8700 Tielt since 26-10-2018 · unit number 2.281.273.417
Activities
NACEBEL 202564210
Activities of holding companies main activity
47811
Retail sale of cars and light vans (up to 3.5 tonnes)
Codes under NACEBEL 2008
64200
Holdings main activity
45113
Invoicing and payment
VAT number
BE 0712.622.376
Financial year and general meeting
Accounts at the NBBFinancial year end
30-09
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Last Friday of March at 09:00
deed of 04-12-2023 (in Dutch)Sites & property
Location
Buildings and parcels at the address
Ground area
2,405 m²
Building footprint
452 m²
Building volume
3,030 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 37303I0332/00K004 | Flanders | 2,404 m² | 1 · 452 m² | 11.3 m · 2 |