Summary
DEVELOPMENT 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 €304,817 and a net result of -€14,264. Equity is growing by about 3.8% per year across the filed financial years. Its solvency ranks better than 55% of 1,848 sector peers (NACE 66, financial year 2025). The company has been active since 1987 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, abbreviated format
In the rankings
#6 oldest company in Izegem, Finance and insurance sector
Equity
€304,817▼ 4.5%
2024 · €319,081
Net result
-€14,264
2024 · €9,091
Total assets
€690,762▼ 1.1%
2024 · €698,330
Solvency
44.1%▼ 1.6pp
2024 · 45.7%
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result turns negative in 2025: a loss of €13,553 after €11,269 in 2024, the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€13,553
2025
Net result-€14,264
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€690,762
2025
Equity€304,817
2025
Debt€385,945
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€15,927
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-2.1%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency44.1%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.96
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)1
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 66, Activities auxiliary to financial services and insurance activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€1,060--€2,908-€1,025▲ 64.7%€28,780€26,927▼ 6.4%€11,269▼ 58.2%-€13,553
Net result€5,553-€1,414below the sector's middle half▼ 74.5%€2,685below the sector's middle half▲ 89.8%€24,606within the sector's middle half▲ 817%€22,704within the sector's middle half▼ 7.7%€9,091below the sector's middle half▼ 60.0%-€14,264below the sector's middle half
Equity€258,580-€259,995within the sector's middle half▲ 0.5%€262,679within the sector's middle half▲ 1.0%€287,286within the sector's middle half▲ 9.4%€309,990within the sector's middle half▲ 7.9%€319,081within the sector's middle half▲ 2.9%€304,817within the sector's middle half▼ 4.5%
Total assets€533,006-€620,681within the sector's middle half▲ 16.4%€619,945within the sector's middle half▼ 0.1%€734,356within the sector's middle half▲ 18.5%€672,561within the sector's middle half▼ 8.4%€698,330within the sector's middle half▲ 3.8%€690,762within the sector's middle half▼ 1.1%
Debt€274,426-€360,686▲ 31.4%€357,266▼ 0.9%€447,070▲ 25.1%€362,570▼ 18.9%€379,249▲ 4.6%€385,945▲ 1.8%
Working capital€6,341-€1,047within the sector's middle half▼ 83.5%€8,845within the sector's middle half▲ 744%-€46,097below the sector's middle half-€17,538within the sector's middle half▲ 62.0%-€5,058within the sector's middle half▲ 71.2%-€15,927within the sector's middle half▼ 215%
Solvency48.5%-41.9%within the sector's middle half▼ 6.6pp42.4%within the sector's middle half▲ 0.5pp39.1%within the sector's middle half▼ 3.3pp46.1%within the sector's middle half▲ 7.0pp45.7%within the sector's middle half▼ 0.4pp44.1%within the sector's middle half▼ 1.6pp
Current ratio1.02-1.00within the sector's middle half▼ 0.021.03within the sector's middle half▲ 0.020.89below the sector's middle half▼ 0.130.95within the sector's middle half▲ 0.060.99within the sector's middle half▲ 0.040.96within the sector's middle half▼ 0.03
Return on assets (ROA)1.0%-0.2%below the sector's middle half▼ 0.8pp0.4%below the sector's middle half▲ 0.2pp3.4%within the sector's middle half▲ 2.9pp3.4%within the sector's middle half=1.3%below the sector's middle half▼ 2.1pp-2.1%below the sector's middle half▼ 3.4pp
Staff (FTE)1-1below the sector's middle half=1below the sector's middle half=1below the sector's middle half=1below the sector's middle half=1below the sector's middle half=1below the sector's middle half=
above
within
below
the middle half of NACE 66, Activities auxiliary to financial services and insurance activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated 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 €690,762
Fixed assets
€329,470 ▼ 1.0%
Current assets
€361,292 ▼ 1.2%
Equity and liabilities €690,762
Equity
€304,817 ▼ 4.5%
Debt
€385,945 ▲ 1.8%
Debt's share of the balance-sheet total rises from 54.3% to 55.9%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-4.7%▼
2024 · 2.8%
Debt ≤ 1 year
€377,219▲
2024 · €370,736
Income taxes
€0▼
2024 · €3,309
Staff costs
€61,057▲
2024 · €37,930
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €2,450 | €0 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €58,121 | €56,517 | €37,930 | €61,057 | ▲ 61.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,220 | €6,189 | €3,533 | €2,885 | €3,182 | €3,182 | €3,182 | = |
| Other operating charges640/8 | - | - | - | €3,745 | €1,830 | €2,153 | €648 | ▼ 69.9% |
| Non-recurring operating charges66A | - | - | - | €5,200 | €371 | €0 | €44,686 | - |
| Gross operating margin9900 | €61,033 | €64,969 | €62,572 | €98,732 | €88,826 | €54,533 | €96,020 | ▲ 76.1% |
| Operating profit (loss)9901 | €1,060 | -€2,908 | -€1,025 | €28,780 | €26,927 | €11,269 | -€13,553 | - |
| Financial income75/76B | - | - | - | €14,044 | €11,640 | €9,668 | €8,044 | ▼ 16.8% |
| Recurring financial income75 | €9,493 | €11,806 | €14,867 | €14,044 | €11,640 | €9,668 | €8,044 | ▼ 16.8% |
| Financial charges65/66B | - | - | - | €8,171 | €8,329 | €8,537 | €8,754 | ▲ 2.6% |
| Recurring financial charges65 | €5,000 | €7,032 | €8,675 | €8,171 | €8,329 | €8,537 | €8,754 | ▲ 2.6% |
| Profit (loss) for the period before taxes9903 | €5,553 | €1,866 | €5,167 | €34,653 | €30,238 | €12,400 | -€14,264 | - |
| Income taxes67/77 | - | €452 | €2,482 | €10,047 | €7,534 | €3,309 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €5,553 | €1,414 | €2,685 | €24,606 | €22,704 | €9,091 | -€14,264 | - |
| Profit (loss) for the period to be appropriated9905 | €5,553 | €1,414 | €2,685 | €24,606 | €22,704 | €9,091 | -€14,264 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €533,006 | €620,681 | €619,945 | €734,356 | €672,561 | €698,330 | €690,762 | ▼ 1.1% |
| Fixed assets21/28 | €257,186 | €265,841 | €262,309 | €341,486 | €335,834 | €332,652 | €329,470 | ▼ 1.0% |
| Tangible fixed assets22/27 | €114,006 | €122,661 | €119,128 | €198,306 | €192,653 | €189,472 | €186,290 | ▼ 1.7% |
| Land and buildings22 | - | - | - | €195,835 | €192,653 | €189,472 | €186,290 | ▼ 1.7% |
| Furniture and vehicles24 | - | - | - | €2,471 | €0 | - | - | - |
| Financial fixed assets28 | €143,180 | €143,180 | €143,180 | €143,180 | €143,180 | €143,180 | €143,180 | = |
| Current assets29/58 | €275,820 | €354,840 | €357,636 | €392,870 | €336,727 | €365,678 | €361,292 | ▼ 1.2% |
| Amounts receivable within one year40/41 | €264,071 | €343,000 | €342,521 | €378,228 | €320,806 | €354,716 | €344,018 | ▼ 3.0% |
| Trade receivables40 | - | - | - | €83,071 | €31,576 | €53,846 | €265,889 | ▲ 394% |
| Other amounts receivable41 | - | - | - | €295,157 | €289,229 | €300,870 | €78,130 | ▼ 74.0% |
| Cash at bank and in hand54/58 | €2,256 | €34 | €220 | €480 | €4,281 | €963 | €8,736 | ▲ 808% |
| Deferred charges and accrued income490/1 | - | - | - | €14,162 | €11,640 | €10,000 | €8,537 | ▼ 14.6% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €533,006 | €620,681 | €619,945 | €734,356 | €672,561 | €698,330 | €690,762 | ▼ 1.1% |
| Equity10/15 | €258,580 | €259,995 | €262,679 | €287,286 | €309,990 | €319,081 | €304,817 | ▼ 4.5% |
| Contributions10/11 | €297,472 | €297,472 | €297,472 | €297,472 | €297,472 | €297,472 | €297,472 | = |
| Capital10 | - | - | - | €297,472 | €297,472 | €297,472 | €297,472 | = |
| Issued capital100 | - | - | - | €297,472 | €297,472 | €297,472 | €297,472 | = |
| Reserves13 | €29,747 | €29,747 | €29,747 | €29,747 | €29,747 | €29,747 | €29,747 | = |
| Non-distributable reserves130/1 | - | - | - | €29,747 | €29,747 | €29,747 | €29,747 | = |
| Legal reserve130 | - | - | - | €29,747 | €29,747 | €29,747 | €29,747 | = |
| Profit (loss) carried forward14 | -€68,639 | -€67,225 | -€64,540 | -€39,934 | -€17,229 | -€8,138 | -€22,402 | ▼ 175% |
| Amounts payable17/49 | €274,426 | €360,686 | €357,266 | €447,070 | €362,570 | €379,249 | €385,945 | ▲ 1.8% |
| Amounts payable within one year42/48 | €269,479 | €353,792 | €348,791 | €438,967 | €354,265 | €370,736 | €377,219 | ▲ 1.7% |
| Trade debts44 | €28,742 | €32,931 | €1,679 | €97,447 | €10,796 | €8,837 | €11,900 | ▲ 34.7% |
| Suppliers440/4 | - | - | - | €97,447 | €10,796 | €8,837 | €11,900 | ▲ 34.7% |
| Taxes, remuneration and social security45 | - | - | - | €17,404 | €11,250 | €21,375 | €16,282 | ▼ 23.8% |
| Taxes450/3 | - | - | - | €10,503 | €3,919 | €13,756 | €9,373 | ▼ 31.9% |
| Remuneration and social security454/9 | - | - | - | €6,900 | €7,331 | €7,619 | €6,909 | ▼ 9.3% |
| Other amounts payable47/48 | - | - | - | €324,116 | €332,219 | €340,524 | €349,037 | ▲ 2.5% |
| Accrued charges and deferred income492/3 | - | - | - | €8,103 | €8,305 | €8,513 | €8,726 | ▲ 2.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,553 | €1,414 | €2,685 | €24,606 | €22,704 | €9,091 | -€14,264 | - |
| + Depreciation and write-downs630 | €3,220 | €6,189 | €3,533 | €2,885 | €3,182 | €3,182 | €3,182 | = |
| Operating cash flow (approximation) | €8,773 | €7,603 | €6,217 | €27,492 | €25,886 | €12,273 | -€11,082 | - |
| Investment in fixed assets (approximation) | - | -€14,844 | €0 | -€82,063 | €2,471 | €0 | €0 | - |
| Change in cash | - | -€2,222 | €187 | €259 | €3,801 | -€3,318 | €7,774 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 38 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | abbreviated format | 07-01-2026 | 2026-00004410 |
| 30-06-2024 | abbreviated format | 27-01-2025 | 2025-00011321 |
| 30-06-2023 | abbreviated format | 25-01-2024 | 2024-00023714 |
| 30-06-2022 | abbreviated format | 25-01-2023 | 2023-00003558 |
| 30-06-2021 | abbreviated format | 13-12-2021 | 2021-80000455 |
| 30-06-2020 | abbreviated format | 17-12-2020 | 2020-76100017 |
| 30-06-2019 | abbreviated format | 19-11-2019 | 2019-73900527 |
| 30-06-2018 | abbreviated format | 28-11-2018 | 2018-73200159 |
| 30-06-2017 | abbreviated format | 28-11-2017 | 2017-70600305 |
| 30-06-2016 | abbreviated format | 30-11-2016 | 2016-69300120 |
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Of the 1,467 active companies whose main activity is other activities auxiliary to financial services, excluding insurance and pension funding (NACE 66199), figures are known for 930. 647 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.