DEVELOP'MAN
Annual accounts 2025
micro format, filed on 04-05-2026, 4 days lateThe turnover shown is an estimate from the gross margin.
Turnover ≈ €110,000. Estimated: probably between €66,000 and €150,000.
Money flows
no detail for 2025Balance sheet
balance sheet total €272,888 on 30-09-2025in euro
in euro
Position in the sector
41.2%
Higher than 38% of 39,368 companies in 2025.
1.31
Higher than 35% of 38,051 companies in 2025.
2.0%
Higher than 24% of 38,523 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||
20/58 |
272,888 | 271,162 | 268,671 | 278,516 | 122,484 | 123,704 | 133,636 | 135,575 | 145,077 | 131,186 | 137,723 | 137,019 | 143,366 | 140,803 | 168,819 | 199,418 | 150,932 | |
21/28 |
223,505 | 242,040 | 232,208 | 250,187 | 98,359 | 105,432 | 109,983 | 114,968 | 120,485 | 92,251 | 96,533 | 102,091 | 107,649 | 108,572 | 111,140 | 135,146 | 110,494 | |
22/27 |
212,205 | 230,740 | 220,908 | 238,887 | 53,309 | 60,382 | 64,933 | 60,618 | 66,135 | 71,651 | 75,933 | 81,491 | 87,049 | 91,272 | 96,940 | 112,046 | 95,494 | |
22 |
174,982 | 186,223 | 197,463 | 208,703 | 51,455 | 56,844 | 62,233 | 60,472 | 65,503 | 70,535 | 75,567 | 80,598 | 85,630 | 90,661 | 95,693 | 100,724 | 95,125 | |
23 |
- | - | - | - | - | - | 73 | 147 | 220 | 293 | 366 | 440 | 513 | 586 | 659 | - | - | |
24 |
22,116 | 28,312 | 6,141 | 11,782 | 1,854 | 3,538 | 2,627 | - | 412 | 823 | - | 454 | 907 | 25 | 588 | 11,322 | 369 | |
26 |
15,107 | 16,205 | 17,304 | 18,403 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
28 |
11,300 | 11,300 | 11,300 | 11,300 | 45,050 | 45,050 | 45,050 | 54,350 | 54,350 | 20,600 | 20,600 | 20,600 | 20,600 | 17,300 | 14,200 | 23,100 | 15,000 | |
29/58 |
49,383 | 29,122 | 36,463 | 28,329 | 24,125 | 18,272 | 23,653 | 20,606 | 24,592 | 38,935 | 41,190 | 34,928 | 35,716 | 32,231 | 57,678 | 64,273 | 40,439 | |
40/41 |
8,800 | 8,040 | 2,604 | 2,203 | 8,128 | 8,310 | 6,771 | 7,884 | 7,219 | 29,691 | 26,457 | 26,723 | 18,096 | 19,873 | 49,549 | 28,670 | 24,086 | |
40 |
8,551 | 7,791 | 1,791 | 1,210 | 1,210 | 1,210 | 5,828 | 7,304 | 5,017 | 4,070 | 4,070 | 5,468 | 2,509 | 4,555 | 21,700 | 12,284 | 22,287 | |
41 |
249 | 249 | 813 | 993 | 6,917 | 7,100 | 943 | 580 | 2,202 | 25,621 | 22,387 | 21,255 | 15,587 | 15,318 | 27,849 | 16,386 | 1,799 | |
54/58 |
40,223 | 15,938 | 29,933 | 25,833 | 4,997 | 2,762 | 15,878 | 10,131 | 7,702 | 7,736 | 6,384 | 7,439 | 13,636 | 8,131 | 4,128 | 35,219 | 15,153 | |
490/1 |
360 | 5,144 | 3,926 | 292 | 11,000 | 7,200 | 1,005 | 2,592 | 9,671 | 1,507 | 8,350 | 767 | 3,983 | 4,226 | 4,001 | 383 | 1,200 | |
| Balance sheet: equity and liabilities | ||||||||||||||||||
10/49 |
272,888 | 271,162 | 268,671 | 278,516 | 122,484 | 123,704 | 133,636 | 135,575 | 145,077 | 131,186 | 137,723 | 137,019 | 143,366 | 140,803 | 168,819 | 199,418 | 150,932 | |
10/15 |
112,441 | 106,926 | 106,894 | 104,730 | 111,161 | 110,210 | 107,435 | 103,355 | 103,705 | 98,640 | 98,364 | 96,050 | 96,226 | 91,951 | 88,933 | 95,524 | 48,718 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
13 |
106,241 | 100,726 | 100,694 | 98,530 | 104,961 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
130/1 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | |
132 |
5,514 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
133 |
98,866 | 98,866 | 98,834 | 96,670 | 103,101 | - | - | - | - | - | - | - | - | - | - | - | - | |
14 |
- | - | - | - | 0 | 102,150 | 99,375 | 95,295 | 95,645 | 90,580 | 90,304 | 86,898 | 85,983 | 80,616 | 75,849 | 82,440 | 40,658 | |
15 |
- | - | - | - | - | - | - | - | - | - | - | 1,092 | 2,183 | 3,275 | 5,024 | 5,024 | - | |
17/49 |
160,447 | 164,235 | 161,777 | 173,786 | 11,323 | 13,495 | 26,201 | 32,220 | 41,373 | 32,546 | 39,359 | 40,970 | 47,140 | 48,852 | 79,885 | 103,895 | 102,215 | |
17 |
121,613 | 129,079 | 137,432 | 147,338 | 4,722 | 8,055 | 11,389 | 14,722 | 18,055 | 21,389 | 24,722 | 28,055 | 31,389 | 34,722 | 38,055 | 41,389 | 44,722 | |
170/4 |
104,743 | 113,919 | 122,682 | 132,438 | 4,722 | 8,055 | 11,389 | 14,722 | 18,055 | 21,389 | 24,722 | 28,055 | 31,389 | 34,722 | 38,055 | 41,389 | 44,722 | |
178/9 |
16,870 | 15,160 | 14,750 | 14,900 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
42/48 |
37,634 | 35,156 | 24,346 | 26,448 | 6,601 | 5,439 | 11,212 | 17,498 | 23,317 | 11,158 | 13,437 | 11,714 | 14,551 | 14,130 | 41,531 | 62,506 | 57,492 | |
42 |
9,176 | 8,763 | 9,756 | 11,324 | 3,333 | 3,333 | 3,333 | 3,333 | 3,333 | 3,333 | 3,333 | 3,333 | 3,333 | 3,333 | 3,333 | 3,333 | 3,333 | |
44 |
2,188 | 756 | 1,125 | 2,069 | 182 | 182 | 1,287 | 182 | 219 | 194 | 349 | 578 | - | 39 | 6,680 | 3,123 | 1,299 | |
440/4 |
2,188 | 756 | 1,125 | 2,069 | 182 | 182 | 1,287 | 182 | 219 | 194 | 349 | 578 | - | 39 | 6,680 | 3,123 | 1,299 | |
46 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 6,219 | - | |
45 |
5,284 | 3,828 | 1,941 | 207 | 511 | 1,117 | 4,238 | - | 2,306 | - | 350 | - | 1,222 | 2,487 | 1,749 | 24,534 | 30,010 | |
450/3 |
5,284 | 3,828 | 1,941 | 207 | 511 | 1,117 | 4,238 | - | 2,306 | - | 350 | - | 1,222 | 2,487 | 1,749 | 24,534 | 30,010 | |
47/48 |
20,986 | 21,810 | 11,523 | 12,848 | 2,575 | 808 | 2,354 | 13,983 | 17,459 | 7,630 | 9,405 | 7,803 | 9,995 | 8,271 | 29,769 | 25,297 | 22,850 | |
492/3 |
1,200 | - | - | - | - | - | 3,600 | - | - | - | 1,200 | 1,200 | 1,200 | - | 298 | - | - | |
| Income statement | ||||||||||||||||||
70 |
- | - | - | - | - | - | - | 2,950 | 3,150 | - | - | - | - | 11,975 | 33,545 | - | - | |
9900 |
37,665 | 37,753 | 33,944 | 31,767 | 10,209 | 13,457 | 20,077 | 7,215 | 15,034 | 6,692 | 9,524 | 6,688 | 13,777 | 15,888 | 19,149 | 76,837 | 94,272 | |
60/61 |
- | - | - | - | - | - | - | 2,935 | 4,316 | - | - | - | - | 9,287 | 32,596 | - | 10,228 | |
62 |
- | - | - | - | 0 | 655 | - | - | - | - | 78 | - | 15 | 331 | 913 | 1,024 | 736 | |
630 |
18,535 | 23,609 | 17,979 | 23,275 | 7,073 | 7,146 | 6,281 | 5,516 | 5,516 | 5,516 | 5,558 | 5,558 | 5,583 | 5,668 | 5,652 | 8,087 | 22,330 | |
631/4 |
- | - | - | - | 0 | -296 | - | - | - | - | - | - | 296 | - | - | - | - | |
640/8 |
2,859 | 4,625 | 5,253 | 7,246 | 1,019 | 1,363 | 984 | 964 | 945 | - | - | - | 912 | 1,848 | 1,199 | 470 | 101 | |
66A |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 15,000 | - | - | |
9901 |
16,271 | 9,519 | 10,712 | 1,246 | 2,117 | 4,588 | 12,812 | 735 | 8,573 | 1,176 | 3,888 | 1,130 | 6,970 | 8,041 | 11,385 | 67,256 | 71,105 | |
75/76B |
- | - | - | - | - | - | 2,169 | - | - | 358 | 1,475 | 1,480 | 1,482 | 949 | 22 | 1,283 | 9 | |
75 |
- | - | - | - | - | - | 2,169 | - | - | 358 | 1,475 | 1,480 | 1,482 | 949 | 22 | 1,283 | 9 | |
65/66B |
5,638 | 6,086 | 6,607 | 7,470 | 529 | 697 | 6,663 | 1,103 | 1,202 | 1,354 | 1,607 | 1,721 | 1,891 | 2,367 | 2,231 | 2,382 | 1,854 | |
65 |
5,638 | 6,086 | 6,607 | 7,470 | 529 | 697 | 6,663 | 1,103 | 1,202 | 1,354 | 1,607 | 1,721 | 1,891 | 2,367 | 2,231 | 2,382 | 1,854 | |
9903 |
10,633 | 3,432 | 4,105 | -6,224 | 1,588 | 3,892 | 8,318 | -368 | 7,371 | 180 | 3,756 | 888 | 6,561 | 6,623 | -5,824 | 66,158 | 69,260 | |
67/77 |
5,119 | 3,399 | 1,941 | 207 | 511 | 1,117 | 4,238 | -18 | 2,306 | -95 | 350 | -27 | 1,194 | 1,856 | 767 | 24,376 | 26,742 | |
9904 |
5,514 | 33 | 2,164 | -6,431 | 1,077 | 2,775 | 4,080 | -350 | 5,065 | 276 | 3,406 | 915 | 5,367 | 4,767 | -6,591 | 41,782 | 42,518 | |
9905 |
5,514 | 33 | 2,164 | -6,431 | 1,077 | 2,775 | 4,080 | -350 | 5,065 | 276 | 3,406 | 915 | 5,367 | 4,767 | -6,591 | 41,782 | 42,518 | |
| Appropriation of the result | ||||||||||||||||||
9906 |
5,514 | 33 | 2,164 | -6,431 | 103,101 | 102,150 | 99,375 | 95,295 | 95,645 | 90,580 | 90,304 | 86,898 | 85,983 | 80,616 | 75,849 | 82,440 | 42,518 | |
14P |
- | - | - | 0 | 102,024 | - | - | - | - | - | - | - | - | - | - | - | - | |
791/2 |
- | - | 0 | 6,431 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
5,514 | 33 | 2,164 | 0 | 103,101 | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
6921 |
5,514 | 33 | 2,164 | 0 | 103,101 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Document | ||||||||||||||||||
The notes to these accounts have 16 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 04-05-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 4 days after the deadline. Filed on 4 May 2026, deadline 30 April 2026 (7 months after the close on 30 September 2025, Companies Code art. 3:10). Source: NBB, 2026-00103842.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 04-05-2026 | 2026-00103842 | |
| 30-09-2024 | micro format | 01-04-2025 | 2025-00064712 | |
| 30-09-2023 | micro format | 02-04-2024 | 2024-00055067 | |
| 30-09-2022 | micro format | 27-03-2023 | 2023-00045743 | |
| 30-09-2021 | full format | 07-04-2022 | 2022-20001248 | |
| 30-09-2020 | micro format | 18-03-2021 | 2021-07900129 | |
| 30-09-2019 | micro format | 01-04-2020 | 2020-08300433 | |
| 30-09-2018 | micro format | 15-02-2019 | 2019-05100560 | |
| 30-09-2017 | micro format | 22-03-2018 | 2018-07500382 | |
| 30-09-2016 | full format | 21-03-2017 | 2017-06800382 | |
| 30-09-2015 | full format | 21-03-2016 | 2016-07000117 | |
| 30-09-2014 | full format | 18-02-2015 | 2015-04700191 | |
| 30-09-2013 | full format | 12-03-2014 | 2014-06700052 | |
| 30-09-2012 | full format | 18-03-2013 | 2013-06700208 | |
| 30-09-2011 | full format | 03-04-2012 | 2012-08100295 | |
| 30-09-2010 | full format | 29-03-2011 | 2011-07300118 | |
| 30-09-2009 | full format | 31-03-2010 | 2010-08300556 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 34,806 | 33,128 | 28,691 | 24,521 | 9,190 | 11,735 | 19,093 | 6,251 | 14,089 | 6,692 | 9,446 | 6,688 | 12,553 | 13,709 | 17,037 | 75,343 | 93,434 | ||
| 24,049 | 23,642 | 20,143 | 16,844 | 8,150 | 9,921 | 10,361 | 5,166 | 10,581 | 5,792 | 8,964 | 6,474 | 10,950 | 10,435 | -938 | 49,869 | 64,847 | ||
| 0 | 33,441 | 0 | 286,637 | 0 | 2,241 | 10,595 | 0 | 33,750 | 1,235 | 0 | 0 | 4,660 | 3,100 | 7,484 | 32,740 | 132,823 | ||
| 24,285 | -13,995 | 4,099 | 20,836 | 2,235 | -13,116 | 5,747 | 2,429 | -34 | 1,352 | -1,055 | -6,198 | 5,505 | 4,003 | -31,092 | 20,067 | - | ||
| 11,749 | -6,034 | 12,117 | 1,880 | 17,524 | 12,833 | 12,441 | 3,108 | 1,275 | 27,777 | 27,753 | 23,214 | 21,165 | 18,101 | 16,147 | 1,767 | -17,054 | ||
| - | - | - | - | - | - | - | 24.9% | - | - | - | - | - | 67.2% | 33.9% | - | - | ||
| 41.2% | 39.4% | 39.8% | 37.6% | 90.8% | 89.1% | 80.4% | 76.2% | 71.5% | 75.2% | 71.4% | 70.1% | 67.1% | 65.3% | 52.7% | 47.9% | 32.3% | ||
| 1.31 | 0.83 | 1.50 | 1.07 | 3.65 | 3.36 | 2.11 | 1.18 | 1.05 | 3.49 | 3.07 | 2.98 | 2.45 | 2.28 | 1.39 | 1.03 | 0.70 | ||
| 1.43 | 1.54 | 1.51 | 1.66 | 0.10 | 0.12 | 0.24 | 0.31 | 0.40 | 0.33 | 0.40 | 0.43 | 0.49 | 0.53 | 0.90 | 1.09 | 2.10 | ||
| 4.9% | 0.0% | 2.0% | -6.1% | 1.0% | 2.5% | 3.8% | -0.3% | 4.9% | 0.3% | 3.5% | 1.0% | 5.6% | 5.2% | -7.4% | 43.7% | 87.3% | ||
| 2.0% | 0.0% | 0.8% | -2.3% | 0.9% | 2.2% | 3.1% | -0.3% | 3.5% | 0.2% | 2.5% | 0.7% | 3.7% | 3.4% | -3.9% | 21.0% | 28.2% | ||
| 6.17 | 5.44 | 4.34 | 3.28 | 17.38 | - | - | - | - | - | - | - | - | - | - | - | - | ||
| - | - | - | - | - | - | - | 904 days | 581 days | - | - | - | - | 139 days | 236 days | - | - | ||
| - | - | - | - | - | - | - | 23 days | 19 days | - | - | - | - | 2 days | 75 days | - | 46 days |
EBIT margin: not included in this filing.
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.
Securities and guarantees
on own assets and for others| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 | 30-09-2021 |
|---|---|---|---|---|---|
| Carrying value of the mortgaged assets | €174,982 | €186,223 | €197,463 | €208,703 | €51,455 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
fixed assets acquired| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 | 30-09-2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €33,441 | - | €282,856 | - |
| Intangible fixed assets | - | - | - | €3,781 | - |
| €18,535 | €23,609 | €17,979 | €23,275 | €7,073 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on DEVELOP'MAN
The operating result for 2025 is 71% higher than in 2024 and the highest since 2010. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total falls from 60.6% to 58.8%. Equity is higher and debt is lower.
- 2022 Total assets +127% on 2021. Merger absorbing SDPES, Official Gazette 17-05-2022.