DEVELTECH
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 15-06-2026 PDF all 24 filings
Turnover
≈ €21,000
Estimated: probably between €13,000 and €50,000
Total assets
€93,166▲ 10.9%
2024 · €84,029
Net result
€874▼ 72.0%
2024 · €3,124
Working capital
€49,962▲ 6.3%
2024 · €46,987
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€1,668
▼ 59.8%
2025
20182025
Net result
€874
▼ 72.0%
2025
lowest quarter of the sector
20182025
Equity
€54,012
▲ 1.6%
2025
middle half of the sector
20182025
Total assets
€93,166
▲ 10.9%
2025
middle half of the sector
20182025
Debt
€39,153
▲ 26.7%
2025
20182025
Working capital
€49,962
▲ 6.3%
2025
middle half of the sector
20182025
Solvency
58.0%
▼ 5.3pp
2025
middle half of the sector
20182025
Current ratio
2.28
▼ 0.24
2025
middle half of the sector
20182025
Return on assets (ROA)
0.9%
▼ 2.8pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€43,840--€30,128▲ 31.3%-€18,057▲ 40.1%€4,291€29,474▲ 587%€1,402▼ 95.2%€4,148▲ 196%€1,668▼ 59.8%
Net result-€45,526--€32,034▲ 29.6%-€20,882below the sector's middle half▲ 34.8%€1,200below the sector's middle half€28,600within the sector's middle half▲ 24×€410below the sector's middle half▼ 98.6%€3,124within the sector's middle half▲ 662%€874below the sector's middle half▼ 72.0%
Equity€72,721-€40,687▼ 44.1%€19,805below the sector's middle half▼ 51.3%€21,005below the sector's middle half▲ 6.1%€49,605within the sector's middle half▲ 136%€50,015within the sector's middle half▲ 0.8%€53,138within the sector's middle half▲ 6.2%€54,012within the sector's middle half▲ 1.6%
Total assets€116,180-€65,040▼ 44.0%€70,112within the sector's middle half▲ 7.8%€43,800below the sector's middle half▼ 37.5%€80,967within the sector's middle half▲ 84.9%€67,356within the sector's middle half▼ 16.8%€84,029within the sector's middle half▲ 24.8%€93,166within the sector's middle half▲ 10.9%
Debt€43,459-€24,353▼ 44.0%€50,308▲ 107%€22,795▼ 54.7%€31,362▲ 37.6%€17,341▼ 44.7%€30,891▲ 78.1%€39,153▲ 26.7%
Working capital€69,443-€35,141▼ 49.4%€12,506within the sector's middle half▼ 64.4%€12,803within the sector's middle half▲ 2.4%€42,769within the sector's middle half▲ 234%€41,454within the sector's middle half▼ 3.1%€46,987within the sector's middle half▲ 13.3%€49,962within the sector's middle half▲ 6.3%
Solvency62.6%-62.6%=28.2%within the sector's middle half▼ 34.3pp48.0%within the sector's middle half▲ 19.7pp61.3%within the sector's middle half▲ 13.3pp74.3%within the sector's middle half▲ 13.0pp63.2%within the sector's middle half▼ 11.0pp58.0%within the sector's middle half▼ 5.3pp
Current ratio3.18-2.90▼ 0.291.26within the sector's middle half▼ 1.631.56within the sector's middle half▲ 0.302.36within the sector's middle half▲ 0.803.39within the sector's middle half▲ 1.032.52within the sector's middle half▼ 0.872.28within the sector's middle half▼ 0.24
Return on assets (ROA)-39.2%--49.3%▼ 10.1pp-29.8%below the sector's middle half▲ 19.5pp2.7%within the sector's middle half▲ 32.5pp35.3%above the sector's middle half▲ 32.6pp0.6%below the sector's middle half▼ 34.7pp3.7%within the sector's middle half▲ 3.1pp0.9%below the sector's middle half▼ 2.8pp
above
within
below
The sector band is the middle half of the companies in Architectural and engineering activities; technical testing and analysis (NACE 71). 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 operating result for 2025 is 60% lower than in 2024.
Turnover and EBIT margin are not published. The micro 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 €93,166
Fixed assets
€4,050 ▼ 34.2%
Current assets
€89,115 ▲ 14.4%
Equity and liabilities €93,166
Equity
€54,012 ▲ 1.6%
Debt
€39,153 ▲ 26.7%
Debt's share of the balance-sheet total rises from 36.8% to 42.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€3,769▼
2024 · €6,557
Cash flow
€2,975▼
2024 · €5,532
Debt to equity
0.72▲
2024 · 0.58
ROE
1.6%▼
2024 · 5.9%
Interest coverage
4.23▼
2024 · 6.40
Debt ≤ 1 year
€39,153▲
2024 · €30,891
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,735 | €2,805 | €4,481 | - | - |
| Intangible fixed assets | - | - | €2,101 | - | - |
| Depreciation and write-downs of the year | €3,350 | €4,171 | €4,858 | €2,409 | €2,102 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,485 | €3,573 | €3,555 | €3,350 | €4,171 | €4,858 | €2,409 | €2,102 | ▼ 12.8% |
| Other operating charges640/8 | - | - | - | €427 | €342 | €259 | €457 | €368 | ▼ 19.5% |
| Gross operating margin9900 | -€36,670 | -€25,100 | -€4,309 | €8,068 | €33,986 | €6,518 | €7,013 | €4,137 | ▼ 41.0% |
| Operating profit (loss)9901 | -€43,840 | -€30,128 | -€18,057 | €4,291 | €29,474 | €1,402 | €4,148 | €1,668 | ▼ 59.8% |
| Financial income75/76B | - | - | - | - | €0 | €1 | - | €98 | - |
| Recurring financial income75 | €119 | €1 | €7 | - | €0 | €1 | - | €98 | - |
| Financial charges65/66B | - | - | - | €2,317 | €854 | €993 | €1,024 | €892 | ▼ 12.9% |
| Recurring financial charges65 | €1,792 | €1,907 | €2,832 | €2,317 | €854 | €993 | €1,024 | €892 | ▼ 12.9% |
| Profit (loss) for the period before taxes9903 | -€45,514 | -€32,034 | -€20,882 | €1,974 | €28,619 | €410 | €3,124 | €874 | ▼ 72.0% |
| Income taxes67/77 | €12 | - | - | €774 | €19 | - | - | - | - |
| Profit (loss) for the period9904 | -€45,526 | -€32,034 | -€20,882 | €1,200 | €28,600 | €410 | €3,124 | €874 | ▼ 72.0% |
| Profit (loss) for the period to be appropriated9905 | -€45,526 | -€32,034 | -€20,882 | €1,200 | €28,600 | €410 | €3,124 | €874 | ▼ 72.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €116,180 | €65,040 | €70,112 | €43,800 | €80,967 | €67,356 | €84,029 | €93,166 | ▲ 10.9% |
| Fixed assets21/28 | €14,936 | €11,363 | €9,817 | €8,201 | €6,836 | €8,561 | €6,152 | €4,050 | ▼ 34.2% |
| Intangible fixed assets21 | - | - | - | - | - | €1,681 | €1,261 | €840 | ▼ 33.3% |
| Tangible fixed assets22/27 | €14,716 | €11,143 | €9,717 | €8,101 | €6,736 | €6,780 | €4,791 | €3,110 | ▼ 35.1% |
| Plant, machinery and equipment23 | - | - | - | €3,095 | €1,463 | €4,152 | €3,256 | €2,360 | ▼ 27.5% |
| Furniture and vehicles24 | - | - | - | €5,006 | €5,274 | €2,627 | €1,535 | €750 | ▼ 51.1% |
| Financial fixed assets28 | €220 | €220 | €100 | €100 | €100 | €100 | €100 | €100 | = |
| Current assets29/58 | €101,244 | €53,677 | €60,295 | €35,599 | €74,131 | €58,796 | €77,878 | €89,115 | ▲ 14.4% |
| Stocks and contracts in progress3 | €42,258 | €22,373 | €20,556 | €15,114 | €17,153 | €12,336 | €598 | - | - |
| Stocks30/36 | - | - | - | €15,114 | €17,153 | €12,336 | €598 | - | - |
| Amounts receivable within one year40/41 | €55,110 | €30,135 | €35,873 | €16,490 | €16,085 | €35,296 | €72,006 | €70,373 | ▼ 2.3% |
| Trade receivables40 | - | - | - | €4,866 | €1,188 | €12,737 | €60,707 | €47,722 | ▼ 21.4% |
| Other amounts receivable41 | - | - | - | €11,624 | €14,897 | €22,559 | €11,299 | €22,651 | ▲ 100% |
| Cash at bank and in hand54/58 | €3,807 | - | - | €3,188 | €38,315 | €8,529 | €2,552 | €16,013 | ▲ 528% |
| Deferred charges and accrued income490/1 | - | - | - | €807 | €2,578 | €2,635 | €2,721 | €2,729 | ▲ 0.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €116,180 | €65,040 | €70,112 | €43,800 | €80,967 | €67,356 | €84,029 | €93,166 | ▲ 10.9% |
| Equity10/15 | €72,721 | €40,687 | €19,805 | €21,005 | €49,605 | €50,015 | €53,138 | €54,012 | ▲ 1.6% |
| Contributions10/11 | €6,523 | €6,523 | - | €6,523 | €6,523 | €6,523 | €6,523 | €6,523 | = |
| Reserves13 | €44,790 | €44,790 | €44,790 | €44,790 | €44,790 | €44,790 | €44,790 | €44,790 | = |
| Non-distributable reserves130/1 | - | - | - | €1,900 | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Reserves not available under the articles1311 | - | - | - | €1,900 | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Tax-exempt reserves132 | - | - | - | €42,890 | €42,890 | €42,890 | €42,890 | €42,890 | = |
| Profit (loss) carried forward14 | €21,409 | -€10,625 | -€31,508 | -€30,308 | -€1,708 | -€1,298 | €1,826 | €2,700 | ▲ 47.9% |
| Amounts payable17/49 | €43,459 | €24,353 | €50,308 | €22,795 | €31,362 | €17,341 | €30,891 | €39,153 | ▲ 26.7% |
| Amounts payable after more than one year17 | €11,658 | €5,817 | €2,518 | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €31,801 | €18,536 | €47,790 | €22,795 | €31,362 | €17,341 | €30,891 | €39,153 | ▲ 26.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €2,795 | - | - | - | - | - |
| Trade debts44 | €24,804 | - | €19,249 | - | €22,090 | €5,145 | €27,808 | €36,528 | ▲ 31.4% |
| Suppliers440/4 | - | - | - | - | €22,090 | €5,145 | €27,808 | €36,528 | ▲ 31.4% |
| Taxes, remuneration and social security45 | - | - | - | - | €9,272 | €12,196 | €3,083 | €2,625 | ▼ 14.9% |
| Taxes450/3 | - | - | - | - | €9,272 | €12,196 | €3,083 | €2,625 | ▼ 14.9% |
| Other amounts payable47/48 | - | - | - | €20,000 | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€45,526 | -€32,034 | -€20,882 | €1,200 | €28,600 | €410 | €3,124 | €874 | ▼ 72.0% |
| + Depreciation and write-downs630 | €6,485 | €3,573 | €3,555 | €3,350 | €4,171 | €4,858 | €2,409 | €2,102 | ▼ 12.8% |
| Operating cash flow (approximation) | -€39,041 | -€28,461 | -€17,327 | €4,550 | €32,771 | €5,268 | €5,532 | €2,975 | ▼ 46.2% |
| Investment in fixed assets (approximation) | - | €0 | -€2,009 | -€1,735 | -€2,805 | -€6,582 | €0 | €0 | - |
| Change in cash | - | - | - | - | €35,127 | -€29,786 | -€5,977 | €13,461 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 17,041 companies had the same profile as DEVELTECH has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DEVELTECH itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 17,041 companies, not a prediction for DEVELTECH. 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.
Latest 10 of 24 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 15-06-2026 | 2026-00161532 | |
| 31-12-2024 | micro format | 16-06-2025 | 2025-00142176 | |
| 31-12-2023 | micro format | 02-07-2024 | 2024-00202053 | |
| 31-12-2022 | micro format | 10-07-2023 | 2023-00224976 | |
| 31-12-2021 | micro format | 30-06-2022 | 2022-20132948 | |
| 31-12-2020 | micro format | 11-08-2021 | 2021-47900191 | |
| 31-12-2019 | micro format | 07-07-2020 | 2020-27100269 | |
| 31-12-2018 | micro format | 19-08-2019 | 2019-47600460 | |
| 31-12-2017 | micro format | 10-08-2018 | 2018-44800388 | |
| 31-12-2016 | micro format | 18-08-2017 | 2017-44800545 |