Equity
DEVACON has made a profit in every financial year since 2009.
DEVACON has made a profit in every financial year since 2009.
Green is investment, beige is depreciation.
The 2020 accounts came 11 days late. The other nine of the last ten were filed on time.
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.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 104 days before 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.
Shares in 1 company, Mandel Car Toerisme
Board & ownership| Company | ||||
|---|---|---|---|---|
| DEVACON Izegem | €3.1m | €173,835 | 90.4% | - |
| FRECOM Izegem | €3.1m | €187,228 | 25.1% | - |
| GQ SOLUTIONS Izegem | €3.5m | €166,721 | 81.4% | - |
| VHBSolidus Izegem | €2.9m | €212,622 | 65.8% | - |
| GUIMMO Wingene | €2.8m | €170,221 | 70.3% | - |
| LOUBRIT Bruges | €3.0m | €199,207 | 86.4% | - |
| Linias Lichtervelde | €2.7m | €157,154 | 74.7% | - |
These companies have the same main activity as DEVACON: activities of holding companies (NACE 64210). They are comparable in size and age: total assets between €2.7m and €3.5m, founded between 2007 and 2009.
DEVACON files the abbreviated format. That format states no turnover. The gross margin rose from €17,469 in 2009 to €173,835 in 2026.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Higher than 81% of 6,708 companies in 2025.
Higher than 61% of 6,673 companies in 2025.
| Line | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||
20/58 |
3.1m | 3.1m | 3.1m | 2.1m | 1.3m | 313,297 | 229,919 | 202,453 | 170,631 | 163,049 | 131,032 | 134,415 | 127,476 | 71,744 | 80,287 | 69,470 | 41,735 | 42,852 | |
21/28 |
3.1m | 3.0m | 3.0m | 1.9m | 1.2m | 28,521 | 38,097 | 38,357 | 30,384 | 33,858 | 8,873 | 12,732 | 16,755 | 11,745 | 13,305 | 11,405 | 20,571 | 15,914 | |
22/27 |
34,783 | 2,795 | 1,849 | 4,537 | 7,515 | 10,486 | 16,462 | 13,122 | 1,549 | 1,723 | 2,238 | 2,797 | 3,520 | 4,710 | 6,270 | 4,370 | 6,036 | 1,414 | |
23 |
0 | 279 | 755 | 2,246 | 3,976 | 5,135 | 2,789 | 1,436 | 915 | 700 | 204 | 339 | 185 | 417 | 904 | 611 | 1,103 | 535 | |
24 |
34,783 | 2,516 | 1,094 | 2,286 | 3,478 | 5,234 | 13,501 | 11,459 | - | - | - | - | - | - | - | 234 | 527 | 879 | |
26 |
- | - | 0 | 5 | 61 | 117 | 172 | 228 | 634 | 1,023 | 2,034 | 2,458 | 3,335 | 4,293 | 5,366 | 3,525 | 4,406 | - | |
28 |
3.0m | 3.0m | 3.0m | 1.9m | 1.2m | 18,035 | 21,635 | 25,235 | 28,835 | 32,135 | 6,635 | 9,935 | 13,235 | 7,035 | 7,035 | 7,035 | 14,535 | 14,500 | |
29/58 |
27,732 | 74,267 | 84,515 | 195,527 | 171,477 | 284,775 | 191,822 | 164,096 | 140,247 | 129,191 | 122,159 | 121,683 | 110,721 | 59,999 | 66,982 | 58,065 | 21,164 | 26,938 | |
40/41 |
16,068 | 29,336 | 28,571 | 100,053 | 102,860 | 197,791 | 167,178 | 148,991 | 128,819 | 115,005 | 112,554 | 34,714 | 97,236 | 59,247 | 65,384 | 55,043 | 7,262 | 8,092 | |
40 |
5,445 | 167 | 3,287 | 89,430 | 92,250 | 67,170 | 39,325 | 55,055 | 29,645 | 35,574 | 51,304 | 34,364 | 46,749 | 7,260 | - | 42,260 | 7,260 | 8,049 | |
41 |
10,623 | 29,169 | 25,284 | 10,623 | 10,610 | 130,621 | 127,853 | 93,936 | 99,174 | 79,431 | 61,250 | 350 | 50,487 | 51,987 | 65,384 | 12,783 | 2 | 44 | |
54/58 |
10,017 | 43,279 | 54,388 | 92,512 | 64,499 | 83,096 | 22,196 | 11,418 | 9,976 | 13,233 | 8,243 | 86,969 | 13,485 | 751 | 1,599 | 3,022 | 13,785 | 18,845 | |
490/1 |
1,647 | 1,653 | 1,557 | 2,963 | 4,118 | 3,889 | 2,448 | 3,687 | 1,452 | 953 | 1,362 | - | - | - | - | - | 118 | - | |
| Balance sheet: equity and liabilities | |||||||||||||||||||
10/49 |
3.1m | 3.1m | 3.1m | 2.1m | 1.3m | 313,297 | 229,919 | 202,453 | 170,631 | 163,049 | 131,032 | 134,415 | 127,476 | 71,744 | 80,287 | 69,470 | 41,735 | 42,852 | |
10/15 |
2.8m | 2.7m | 2.5m | 1.2m | 276,680 | 280,852 | 208,800 | 181,623 | 153,348 | 143,957 | 123,879 | 123,734 | 115,686 | 62,553 | 57,471 | 46,115 | 32,289 | 31,668 | |
10/11 |
716,000 | 716,000 | 716,000 | 716,000 | 22,500 | 22,500 | 22,500 | 22,500 | 22,500 | 22,500 | 22,500 | 22,500 | 22,500 | 22,500 | 22,500 | 22,500 | 22,500 | 22,500 | |
100 |
- | - | - | - | - | - | - | 40,000 | 40,000 | 40,000 | 40,000 | 40,000 | 40,000 | 40,000 | 40,000 | 40,000 | 40,000 | 40,000 | |
101 |
- | - | - | - | - | - | - | 17,500 | 17,500 | 17,500 | 17,500 | 17,500 | 17,500 | 17,500 | 17,500 | 17,500 | 17,500 | 17,500 | |
13 |
2.1m | 1.9m | 1.7m | 440,961 | 254,180 | 258,352 | 186,300 | 159,123 | 130,848 | 121,457 | 101,379 | 101,234 | 93,186 | 40,053 | 34,971 | 23,615 | 9,789 | 9,168 | |
130/1 |
- | - | - | - | 4,000 | 4,000 | 4,000 | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | - | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | |
1311 |
- | - | - | - | 4,000 | 4,000 | - | - | - | - | - | - | - | - | - | - | - | - | |
1319 |
- | - | - | - | - | - | 4,000 | - | - | - | - | - | - | - | - | - | - | - | |
132 |
263,125 | 210,500 | 126,300 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
133 |
1.8m | 1.7m | 1.6m | 440,961 | 250,180 | 254,352 | 182,300 | 155,123 | 126,848 | 117,457 | 97,379 | 97,234 | 89,186 | 36,053 | 30,971 | 19,615 | 5,789 | 5,168 | |
14 |
0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
17/49 |
297,340 | 452,614 | 660,546 | 893,656 | 1.1m | 32,445 | 21,119 | 20,831 | 17,284 | 19,092 | 7,153 | 10,682 | 11,790 | 9,190 | 22,816 | 23,354 | 9,447 | 11,184 | |
17 |
161,460 | 233,587 | 304,243 | 373,461 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
170/4 |
161,460 | 233,587 | 304,243 | 373,461 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
42/48 |
135,880 | 219,027 | 356,303 | 520,195 | 1.1m | 32,445 | 21,119 | 20,831 | 17,284 | 19,092 | 7,153 | 10,682 | 11,790 | 7,690 | 21,316 | 19,354 | 7,947 | 9,684 | |
42 |
72,126 | 70,657 | 69,217 | 67,807 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
43 |
20,887 | 13,464 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
430/8 |
0 | 13,464 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
439 |
20,887 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
44 |
2,650 | 2,414 | 1,268 | 5,470 | 2,783 | 2,464 | 6,545 | 3,573 | 2,468 | 4,743 | 3,840 | 5,709 | 3,532 | 1,409 | 6,219 | 5,170 | 2,774 | 1,555 | |
440/4 |
2,650 | 2,414 | 1,268 | 5,470 | 2,783 | 2,464 | 6,545 | 3,573 | 2,468 | 4,743 | 3,840 | 5,709 | 3,532 | 1,409 | 6,219 | 5,170 | 2,774 | 1,555 | |
46 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 10,260 | - | - | - | |
45 |
13,689 | 49,343 | 139,455 | 86,408 | 28,971 | 29,981 | 12,950 | 14,357 | 11,916 | 14,349 | 3,313 | 3,303 | 955 | 6,281 | 4,837 | 11,284 | 5,173 | 8,129 | |
450/3 |
13,689 | 49,343 | 139,455 | 86,408 | 28,971 | 29,981 | 12,950 | 14,357 | 11,916 | 14,349 | 3,313 | 3,303 | 955 | 6,281 | 4,837 | 11,284 | 5,173 | 8,129 | |
47/48 |
26,528 | 83,150 | 146,362 | 360,510 | 1.0m | - | 1,624 | 2,900 | 2,900 | - | - | 1,670 | 7,303 | - | - | 2,900 | - | - | |
492/3 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 1,500 | 1,500 | 4,000 | 1,500 | 1,500 | |
| Income statement | |||||||||||||||||||
76A |
- | - | - | - | - | - | - | - | - | - | - | - | 48,705 | - | - | - | - | - | |
9900 |
173,835 | 333,450 | 335,249 | 336,066 | 104,663 | 119,473 | 43,510 | 48,186 | 22,597 | 35,313 | 12,004 | 15,538 | 3,933 | 11,665 | 26,178 | 30,163 | 7,391 | 17,469 | |
630 |
3,986 | 1,754 | 2,688 | 2,978 | 3,837 | 3,351 | 4,883 | 4,896 | 853 | 1,327 | 1,116 | 1,288 | 1,190 | 1,560 | 2,442 | 1,666 | 2,188 | 2,298 | |
640/8 |
2,332 | 3,489 | 2,969 | 1,607 | 5,306 | 4,446 | 2,254 | 2,411 | 3,765 | 3,484 | 4,177 | 1,342 | 2,027 | 541 | 493 | 556 | 621 | 984 | |
66A |
- | - | - | - | - | 3,510 | - | - | - | - | - | - | - | - | - | - | - | - | |
9901 |
167,518 | 328,207 | 329,592 | 331,482 | 95,520 | 108,166 | 36,373 | 40,879 | 17,979 | 30,502 | 6,711 | 12,909 | 717 | 9,565 | 23,244 | 27,941 | 4,582 | 14,187 | |
75/76B |
118,181 | 0 | 1.2m | 18 | 4,765 | 3,778 | 5,996 | 5,399 | 4,875 | 4,710 | 3,463 | 623 | 9,204 | 2 | 7 | 10 | 6 | 2 | |
75 |
118,181 | 0 | 1.2m | 18 | 4,765 | 3,778 | 5,996 | 5,399 | 4,875 | 4,710 | 3,463 | 623 | 9,204 | 2 | 7 | 10 | 6 | 2 | |
65/66B |
6,986 | 8,783 | 13,707 | 21,087 | 2,301 | 557 | 446 | 955 | 1,419 | 1,906 | 200 | 391 | 527 | 128 | 97 | 188 | 56 | 53 | |
65 |
6,986 | 8,783 | 13,707 | 21,087 | 2,301 | 557 | 446 | 955 | 1,419 | 1,906 | 200 | 391 | 527 | 128 | 97 | 188 | 56 | 53 | |
9903 |
278,713 | 319,424 | 1.5m | 310,413 | 97,984 | 111,387 | 41,923 | 45,324 | 21,435 | 33,307 | 9,974 | 13,141 | 58,099 | 9,439 | 23,155 | 27,764 | 4,532 | 14,136 | |
67/77 |
42,357 | 96,120 | 199,505 | 103,555 | 35,893 | 39,336 | 13,122 | 14,149 | 9,144 | 13,229 | 9,829 | 5,093 | 4,967 | 4,356 | 8,899 | 11,037 | 3,912 | 4,968 | |
9904 |
236,356 | 223,304 | 1.3m | 206,858 | 62,091 | 72,052 | 28,801 | 31,175 | 12,291 | 20,078 | 145 | 8,048 | 53,133 | 5,083 | 14,255 | 16,727 | 620 | 9,168 | |
689 |
52,625 | 84,200 | 126,300 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
9905 |
183,731 | 139,104 | 1.2m | 206,858 | 62,091 | 72,052 | 28,801 | 31,175 | 12,291 | 20,078 | 145 | 8,048 | 53,133 | 5,083 | 14,255 | 16,727 | 620 | 9,168 | |
| Appropriation of the result | |||||||||||||||||||
9906 |
183,731 | 139,104 | 1.2m | 206,858 | 62,091 | 72,052 | 28,801 | 31,175 | 12,291 | 20,078 | 145 | 8,048 | 53,133 | 5,083 | 14,255 | 16,727 | 620 | 9,168 | |
791/2 |
99,229 | 28,275 | 9,391 | 20,078 | 66,263 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
183,731 | 139,104 | 1.2m | 206,858 | 62,091 | 72,052 | 27,177 | 28,275 | 9,391 | 20,078 | 145 | 8,048 | 53,133 | 5,083 | 11,355 | 13,827 | 620 | 9,168 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 4,000 | |
6921 |
183,731 | 139,104 | 1.2m | 206,858 | 62,091 | 72,052 | 27,177 | 28,275 | 9,391 | 20,078 | 145 | 8,048 | 53,133 | 5,083 | 11,355 | 13,827 | 620 | 5,168 | |
694/7 |
99,229 | 28,275 | 9,391 | 20,078 | 66,263 | - | 1,624 | 2,900 | 2,900 | - | - | - | - | - | 2,900 | 2,900 | - | - | |
694 |
99,229 | 28,275 | 9,391 | 20,078 | 66,263 | - | 1,624 | 2,900 | 2,900 | - | - | - | - | - | 2,900 | 2,900 | - | - | |
| Document | |||||||||||||||||||
The notes to these accounts have 21 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2026 at the NBB, filed on 28-10-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2026 | abbreviated format | 28-10-2026 | 2026-00571031 | |
| 30-09-2025 | abbreviated format | 03-12-2025 | 2025-00575379 | |
| 30-09-2024 | abbreviated format | 17-12-2024 | 2024-00618249 | |
| 30-09-2023 | abbreviated format | 22-02-2024 | 2024-00033140 | |
| 30-09-2022 | micro format | 30-11-2022 | 2022-20528541 | |
| 30-09-2021 | micro format | 10-03-2022 | 2022-07400140 | |
| 30-09-2020 | micro format | 11-05-2021 | 2021-13900075 | |
| 30-09-2019 | micro format | 19-02-2020 | 2020-05200515 | |
| 30-09-2018 | micro format | 16-01-2019 | 2019-01600260 | |
| 30-09-2017 | micro format | 07-03-2018 | 2018-06400530 | |
| 30-09-2016 | abbreviated format | 01-03-2017 | 2017-05600240 | |
| 30-09-2015 | abbreviated format | 04-03-2016 | 2016-05900329 | |
| 30-09-2014 | abbreviated format | 16-02-2015 | 2015-04300374 | |
| 30-09-2013 | abbreviated format | 21-02-2014 | 2014-04700550 | |
| 30-09-2012 | abbreviated format | 21-02-2013 | 2013-04600480 | |
| 30-09-2011 | abbreviated format | 28-11-2011 | 2011-62100081 | |
| 30-09-2010 | abbreviated format | 21-02-2011 | 2011-04100045 | |
| 30-09-2009 | abbreviated format | 24-02-2010 | 2010-05400444 |
| Line | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 35,974 | 2,699 | 3.0m | 693,500 | 1.1m | 3,885 | 8,223 | 16,469 | 679 | 29,612 | 556 | 565 | 13,200 | 0 | 4,342 | -7,500 | 6,845 | 16,862 | ||
| -33,262 | -11,109 | -38,124 | 28,012 | -18,597 | 60,900 | 10,778 | 1,442 | -3,257 | 4,990 | -78,726 | 73,484 | 12,734 | -847 | -1,423 | -10,763 | -5,061 | - | ||
| 90.4% | 85.5% | 78.9% | 56.4% | 20.7% | 89.6% | 90.8% | 89.7% | 89.9% | 88.3% | 94.5% | 92.1% | 90.8% | 87.2% | 71.6% | 66.4% | 77.4% | 73.9% | ||
| 8.5% | 8.4% | 53.4% | 17.9% | 22.4% | 25.7% | 13.8% | 17.2% | 8.0% | 13.9% | 0.1% | 6.5% | 45.9% | 8.1% | 24.8% | 36.3% | 1.9% | 29.0% | ||
| 7.6% | 7.2% | 42.1% | 10.1% | 4.6% | 23.0% | 12.5% | 15.4% | 7.2% | 12.3% | 0.1% | 6.0% | 41.7% | 7.1% | 17.8% | 24.1% | 1.5% | 21.4% |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 30-09-2026 | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €233,587 | €304,243 | €373,461 | €441,268 | - |
| Pledge on other assets, amount secured | €233,587 | €304,243 | €373,461 | €441,268 | - |
| Carrying value of the other pledged assets | €3.0m | €3.0m | €3.0m | €1.8m | - |
Source: notes to the 2022 to 2026 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 30-09-2026 | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 |
|---|---|---|---|---|---|
| Tangible fixed assets | €35,974 | €2,699 | - | - | €866 |
| Financial fixed assets | - | - | €3.0m | €693,500 | €1.1m |
| €3,986 | €1,754 | €2,688 | €2,978 | €3,837 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
The operating result for 2026 is 49% lower than in 2025 and the lowest since 2022. It is the third fall in a row.
Debt's share of the balance-sheet total falls from 14.5% to 9.6%. Equity is higher and debt is lower.
Source: list of holdings in its own 30-09-2026 accounts. Every holding stands with its own latest accounts.
| Fédération belge des Exploitants d'Autobus et d'Autocars-Federatie van de Belgische Autobus en autocarondernemers via Marc D'EIGENS, no longer at Fédération belge des Exploitants d'Autobus et d'Autocars-Federatie van de Belgische Autobus en autocarondernemers · Chair · deed of 29-06-2015 founded in 1934 |
turnover €200,662 (2025) |
| Vlaamse Raad van Autobus- en Autocarondernemers en van reisorganisatoren via Marc D'EIGENS, no longer at Vlaamse Raad van Autobus- en Autocarondernemers en van reisorganisatoren · Director · deed of 05-08-2015 founded in 1994 |
turnover €381,261 (2025) |
| CLICKING TG via Marc D'EIGENS, no longer at CLICKING TG · Director · deed of 25-06-2018 No longer active |
2.3 FTE (2025) |
DEVACON or one of its subsidiaries holds more than half of the shares of these companies. A company it consolidates per the LEI register is listed too.
| Name | 2009 | 2010 | 2011 | 2012 | 2013 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Mandel Car Toerisme | 1% | 100% | ||||||||
| MANDEL MANAGEMENT | 59% | |||||||||
| B-INTERNATIONAL | 55% | 25% | ||||||||
Source: list of holdings in its own accounts
Deadline for the 2027 accounts: 30-04-2028
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
On 29 September 2008, DEVACON was incorporated.1 Marc D’EIGENS is statutory director of the company, appointed by deed of 23-03-2023.2 Total assets went from €202,453 in 2019 to €3.1m in 2026.3
| Establishment | Since | Unit number |
|---|---|---|
| Leenstraat 21 registered office 8870 Izegem | 12-10-2008 | 2.173.761.882 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 36494D0778/00M002 | 549 m² | 1 · 130 m² | 8.7 m · 2 |
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