Result
-€42,576 -€42,576
From profit to loss in 2025, after a profit of €2.0m in 2024.
DEVAMO
Lifetime
19 annual accounts with figures on one time axis, 29 filings since 1996peak €1.2m (2010)
€108,681▲ 31.6%
lowest -€217,078 (2017)
-€42,576▼ €2.0m
peak €11.1m (2025)
€11.1m▲ 22.2%
€847,972▼ 39.1%
peak 3 FTE (2008)
0 FTE
Board5 names since 2019
4 directorsXavier Degezelle and 3 others
Owners
90.02%DEVATRAN
Documentsfilings and deeds
31-03-202630 days before the deadline
2025abbreviated format
Gross margin from €82,574 to €108,681Loss of €42,576Merger: DEVAMO takes over PHIVAL 13-05Capital increase of €63,619.56 to €3,357,116.05 29-04Merger proposal: Devamo takes over Phival 10-02Equity from €9.1m to €11.1m
Key points
from the 2025 annual accountsInvestments
€2.2m 10.9 × depreciation
Green is investment, beige is depreciation. Land and buildings stand 26.0% higher than in 2024.
Filings
29 annual accounts since 1996
The 2018 accounts came 7 days late. The other nine of the last ten were filed on time.
At the same address
13 companies
Restructuring
2025
Merger with PHIVAL. Merger on 13-05-2025.
Position in the sector
€11.1m
More equity than 95% of companies in real estate. Sector median €300,024 · 11,302 companies.
Checked score
97
Excellent
Financially stronger than 76% of medium-sized companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 1,719 companies (NACE 68, medium-sized).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%lowest value
01-2025: < 0.1%● unchanged vs 12-2024
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: 0.1%▲ +0.1 percentage points vs 03-2025
05-2025: < 0.1%▼ -0.1 percentage points vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: 0.1%▲ +0.1 percentage points vs 03-2026highest value
05-2026: < 0.1%▼ -0.1 percentage points vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: < 0.1%● unchanged vs 07-2026
09-2026: < 0.1%● unchanged vs 08-2026
10-2026: < 0.1%● unchanged vs 09-2026
11-2026: < 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Liquidity: current ratio 4.48, cash €107,039
Loss of €42,576 (financial year 2025)
lowers risk
Size: total assets €12.0m
Figures for financial year 2025 (filed on 01-04-2026)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, medium-sized). It does better than 92% of them on solvency, 66% on liquidity, 63% on profitability and 82% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 30-09-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 830 companies had the same profile as DEVAMO has now. Each dot stands for 3 companies, two years later.
96.5%
were still trading
2.9%
stopped another way
0.6%
went bankrupt
That fits the bankruptcy probability of DEVAMO itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 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 830 companies, not a prediction for DEVAMO. 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.
Credit verdict
Credit of up to €1,050,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 4.48 (3.55 in 2024), above the usual 1.5. Short-term debt is 7% and cash 0.9% of total assets. 7.1% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 31-03-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 days early
2024
15 days early
2023
43 days early
2022
3 days early
2021
23 days early
2020
on the day
2019
6 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 17 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% 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 7 April (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end10-11-2026 today30-04-2027 deadline
Recent changes
Capital increase of €31,220.71 to €3,388,336.76
Capital from €3,357,116.05 to €3,388,336.76 · Capital after the increase: €3,388,336.76 · 29 shares · General meeting of 26-06-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0452721368
Merger: DEVAMO takes over PHIVAL
Capital increase of €229,148.23 · 389 new shares · “Het nemen van participaties onder welke vorm ook, in alle bestaande en op te richten vennootschappen en…” (deed in Dutch) · General meeting of 31-03-2025 · Gazette deed
Capital increase of €63,619.56 to €3,357,116.05
Capital from €3,293,496.49 to €3,357,116.05, 108 new shares · 101 shares · 7 shares · General meeting of 31-03-2025 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| DEVAMO Waregem | €12.0m | €108,681 | 92.9% | 0 |
| ZOETHOUDT Roeselare | €9.2m | €188,867 | -11.1% | 0 |
| GOES-ENTREPRISE Jette | €8.5m | €101,635 | 2.2% | 0 |
| DIRA CONSULT Zwevegem | €6.2m | €125,569 | -5.5% | 0 |
| Real Estate Belgium Oudsbergen | €13.4m | €81,825 | 17.1% | 0 |
| Immo Tuinhout Kontich | €5.9m | €119,925 | 73.8% | 0 |
| CADFIN Knokke-Heist | €5.1m | €137,881 | 16.9% | 0 |
These companies have the same main activity as DEVAMO: renting and operating of own or leased non-residential real estate, excluding land (NACE 68203). They are comparable in size and age: total assets between €5.1m and €13m, founded between 1968 and 2004.
Official details
Source: KBO- Status
- Active since 26-05-1994Normal situation
- Registered office
- 14 active companies are registered at this addressSource: KBO register, as of 10 November 2026.
- Activity
- Renting and operating of own or leased non-residential real estate, excluding landNACE 68203
- Establishment unit
- 2.067.606.5678792 Waregem, since 26-05-1994
- Financial year end
- 30 September
- Peppol
- Reachable since 15-09-2025
Annual accounts to 30-09-2025
- ≈ €150,000estimated
- €12.0m▲ 14.1%
- Filing
- Filed on 31-03-2026, 30 days before the end of the filing period
Insights on DEVAMO
DEVAMO files the abbreviated format. That format states no turnover. The gross margin fell from €845,237 in 2007 to €108,681 in 2025.
The balance sheet grew most from 2024 to 2025 through fixed assets.
DEVATRAN holds 90.02% of the shares. In April 2023, the Official Gazette published the appointment of Yves Degezelle as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about DEVAMO
- What is the company number of DEVAMO?
- The company number of DEVAMO is 0452.721.368. The VAT number is the same number with BE in front: BE 0452.721.368.
- Where is DEVAMO based?
- The registered office is at Pitantiestraat 100, 8792 Waregem.Company details
- What does DEVAMO do?
- According to the KBO register, the main activity is renting and operating of own or leased non-residential real estate, excluding land (NACE 68203).
- What is the legal form of DEVAMO?
- DEVAMO is a public limited company (NV).
- When was DEVAMO founded?
- DEVAMO was founded on 26-05-1994.
- Is DEVAMO still active?
- Yes, DEVAMO is an active enterprise in the KBO register.
- What is the turnover of DEVAMO?
- The turnover in financial year 2025 is ≈ €150,000. This figure is estimated from the gross margin of €108,681 and 37 comparable companies (NACE 68203). It probably lies between €120,000 and €230,000.Financials
- Is DEVAMO profitable?
- In financial year 2025, DEVAMO made a loss of €42,576.
- Where can I find the annual accounts of DEVAMO?
- DEVAMO filed 29 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of DEVAMO due?
- DEVAMO must file the annual accounts for financial year 2026 by 30-04-2027.Timeline
Next steps
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