DEVEROL
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 02-02-2026 PDF all 42 filings
Turnover
≈ €2.1m
Estimated: probably between €1.3m and €3.6m
Total assets
€1.5m▲ 22.8%
2024 · €1.2m
Net result
€173,535▲ 40.3%
2024 · €123,656
Working capital
€1.0m▲ 33.4%
2024 · €765,493
In the rankings
#5 oldest company in Pittem, Wholesale and retail trade sector
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€231,753
▲ 34.0%
2025
20192025
Net result
€173,535
▲ 40.3%
2025
highest quarter of the sector
20192025
Equity
€1.2m
▲ 17.0%
2025
highest quarter of the sector
20192025
Total assets
€1.5m
▲ 22.8%
2025
middle half of the sector
20192025
Debt
€308,355
▲ 51.7%
2025
20192025
Working capital
€1.0m
▲ 33.4%
2025
highest quarter of the sector
20192025
Solvency
79.5%
▼ 3.9pp
2025
highest quarter of the sector
20192025
Current ratio
4.80
▼ 1.19
2025
highest quarter of the sector
20192025
Return on assets (ROA)
11.6%
▲ 1.4pp
2025
highest quarter of the sector
20192025
Staff (FTE)
1
=
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.1m-€0.2m▲ 19.5%€0.2m▲ 7.8%€0.1m▼ 13.8%€0.2m▲ 3.8%€0.2m▲ 14.3%€0.2m▲ 34.0%
Net result€0.08m-€0.1mwithin the sector's middle half▲ 37.4%€0.1mwithin the sector's middle half▲ 7.1%€0.1mwithin the sector's middle half▼ 10.5%€0.1mwithin the sector's middle half▲ 2.9%€0.1mwithin the sector's middle half▲ 12.8%€0.2mabove the sector's middle half▲ 40.3%
Equity€0.5m-€0.6mwithin the sector's middle half▲ 18.1%€0.7mwithin the sector's middle half▲ 21.2%€0.8mwithin the sector's middle half▲ 15.7%€0.9mwithin the sector's middle half▲ 13.9%€1.0mwithin the sector's middle half▲ 13.8%€1.2mabove the sector's middle half▲ 17.0%
Total assets€0.8m-€0.9mwithin the sector's middle half▲ 6.3%€1.0mwithin the sector's middle half▲ 18.8%€1.1mwithin the sector's middle half▲ 2.7%€1.1mwithin the sector's middle half▲ 5.4%€1.2mwithin the sector's middle half▲ 8.0%€1.5mwithin the sector's middle half▲ 22.8%
Debt€0.4m-€0.3m▼ 9.5%€0.4m▲ 14.7%€0.3m▼ 21.4%€0.2m▼ 17.8%€0.2m▼ 14.0%€0.3m▲ 51.7%
Working capital€0.3m-€0.4mwithin the sector's middle half▲ 13.1%€0.4mwithin the sector's middle half▲ 4.8%€0.5mwithin the sector's middle half▲ 31.3%€0.6mwithin the sector's middle half▲ 19.2%€0.8mwithin the sector's middle half▲ 22.4%€1.0mabove the sector's middle half▲ 33.4%
Solvency57.4%-63.8%above the sector's middle half▲ 6.4pp65.0%above the sector's middle half▲ 1.3pp73.3%above the sector's middle half▲ 8.2pp79.1%above the sector's middle half▲ 5.9pp83.4%above the sector's middle half▲ 4.2pp79.5%above the sector's middle half▼ 3.9pp
Current ratio2.99-2.75within the sector's middle half▼ 0.242.32within the sector's middle half▼ 0.433.76above the sector's middle half▲ 1.444.71above the sector's middle half▲ 0.956.00above the sector's middle half▲ 1.284.80above the sector's middle half▼ 1.19
Return on assets (ROA)9.8%-12.6%above the sector's middle half▲ 2.9pp11.4%within the sector's middle half▼ 1.2pp9.9%within the sector's middle half▼ 1.5pp9.7%within the sector's middle half▼ 0.2pp10.1%within the sector's middle half▲ 0.4pp11.6%above the sector's middle half▲ 1.4pp
Staff (FTE)1.1-1below the sector's middle half▼ 9.1%1below the sector's middle half=1below the sector's middle half=1within the sector's middle half=1within the sector's middle half=1within the sector's middle half=
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 34% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Turnover and EBIT margin are 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 €1.5m
Fixed assets
€212,758 ▼ 30.2%
Current assets
€1.3m ▲ 40.4%
Equity and liabilities €1.5m
Equity
€1.2m ▲ 17.0%
Debt
€308,355 ▲ 51.7%
Debt's share of the balance-sheet total rises from 16.6% to 20.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€324,520▲
2024 · €260,989
Cash flow
€266,301▲
2024 · €211,646
Quick ratio
3.31▼
2024 · 3.65
Debt to equity
0.26▲
2024 · 0.20
ROE
14.5%▲
2024 · 12.1%
Interest coverage
74.95▲
2024 · 58.64
Debt ≤ 1 year
€268,384▲
2024 · €153,177
Debt > 1 year
€36,708▼
2024 · €47,872
Income taxes
€65,913▲
2024 · €48,147
Staff costs
€79,462▲
2024 · €75,130
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-07-2022 | 31-07-2023 | 31-07-2024 | 31-07-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 |
| full-time | 1 | 1 | 1 | 1 |
| in full-time equivalents | 1 | 1 | 1 | 1 |
| Average over the year, in full-time equivalents | 1 | 1 | 1 | 1 |
| On a permanent contract | 1 | 1 | 1 | 1 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Securities and guarantees
| Item | 31-07-2022 | 31-07-2023 | 31-07-2024 | 31-07-2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €99,433 | €71,130 | €42,413 | €24,724 |
| Mortgages, amount registered | €770,000 | €770,000 | €770,000 | €770,000 |
| Carrying value of the mortgaged assets | €276,779 | €237,930 | €184,543 | €132,071 |
| Pledge on other assets, amount secured | €67,000 | €67,000 | €67,000 | €67,000 |
| Carrying value of the other pledged assets | €49,166 | €33,919 | €18,672 | €3,425 |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 31-07-2022 | 31-07-2023 | 31-07-2024 | 31-07-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €79,999 | €60,506 | €53,790 | €628 |
| Depreciation and write-downs of the year | €64,141 | €81,030 | €87,991 | €92,767 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 to 2025 · 2 entries · €1,125 awarded · €1,125 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €0 | €1,125 |
| 2024 | 1 | €1,125 | €0 |
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €331 | €11,200 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €42,948 | €65,106 | €75,130 | €79,462 | ▲ 5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €55,382 | €46,029 | €55,841 | €64,141 | €81,030 | €87,991 | €92,767 | ▲ 5.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €511 | €954 | ▲ 86.9% |
| Other operating charges640/8 | - | - | - | - | €8,322 | €5,838 | €12,531 | ▲ 115% |
| Non-recurring operating charges66A | - | - | - | €8,510 | - | - | - | - |
| Gross operating margin9900 | €244,457 | €254,072 | €279,906 | €261,473 | €305,874 | €342,467 | €417,467 | ▲ 21.9% |
| Operating profit (loss)9901 | €131,458 | €157,045 | €169,273 | €145,874 | €151,416 | €172,998 | €231,753 | ▲ 34.0% |
| Financial income75/76B | - | - | - | €1,309 | €1,565 | €3,256 | €12,025 | ▲ 269% |
| Recurring financial income75 | €3,212 | €1,087 | €1,716 | €1,309 | €1,565 | €3,256 | €12,025 | ▲ 269% |
| Financial charges65/66B | - | - | - | €4,769 | €4,296 | €4,451 | €4,330 | ▼ 2.7% |
| Recurring financial charges65 | €15,292 | €10,418 | €8,578 | €4,769 | €4,296 | €4,451 | €4,330 | ▼ 2.7% |
| Profit (loss) for the period before taxes9903 | €119,378 | €147,714 | €162,411 | €142,414 | €148,686 | €171,803 | €239,448 | ▲ 39.4% |
| Income taxes67/77 | €38,486 | €36,576 | €43,394 | €35,852 | €39,050 | €48,147 | €65,913 | ▲ 36.9% |
| Profit (loss) for the period9904 | €80,892 | €111,138 | €119,017 | €106,561 | €109,635 | €123,656 | €173,535 | ▲ 40.3% |
| Transfer from tax-exempt reserves789 | - | - | - | - | €31,000 | €125,930 | - | - |
| Transfer to tax-exempt reserves689 | - | - | - | €50,520 | €50,520 | €50,520 | €50,520 | = |
| Profit (loss) for the period to be appropriated9905 | €47,092 | €108,338 | €134,037 | €56,041 | €90,115 | €199,066 | €123,015 | ▼ 38.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.8m | €0.9m | €1.0m | €1.1m | €1.1m | €1.2m | €1.5m | ▲ 22.8% |
| Fixed assets21/28 | €0.3m | €0.3m | €0.3m | €0.4m | €0.3m | €0.3m | €0.2m | ▼ 30.2% |
| Intangible fixed assets21 | - | €84 | €63 | €42 | €21 | - | - | - |
| Tangible fixed assets22/27 | €0.3m | €0.3m | €0.3m | €0.4m | €0.3m | €0.3m | €0.2m | ▼ 30.2% |
| Land and buildings22 | - | - | - | €0.3m | €0.2m | €0.2m | €0.1m | ▼ 28.4% |
| Plant, machinery and equipment23 | - | - | - | €0.03m | €0.06m | €0.05m | €0.04m | ▼ 24.2% |
| Furniture and vehicles24 | - | - | - | €0.06m | €0.04m | €0.07m | €0.04m | ▼ 39.2% |
| Current assets29/58 | €0.5m | €0.6m | €0.7m | €0.7m | €0.8m | €0.9m | €1.3m | ▲ 40.4% |
| Stocks and contracts in progress3 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | €0.4m | ▲ 11.4% |
| Stocks30/36 | - | - | - | €0.3m | €0.3m | €0.4m | €0.4m | ▲ 11.4% |
| Amounts receivable within one year40/41 | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 11.0% |
| Trade receivables40 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 11.0% |
| Other amounts receivable41 | - | - | - | €0.001m | €0.002m | - | - | - |
| Cash at bank and in hand54/58 | €0.08m | €0.2m | €0.2m | €0.2m | €0.3m | €0.4m | €0.7m | ▲ 92.3% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0.01m | €0.004m | €0.008m | ▲ 83.8% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.8m | €0.9m | €1.0m | €1.1m | €1.1m | €1.2m | €1.5m | ▲ 22.8% |
| Equity10/15 | €0.5m | €0.6m | €0.7m | €0.8m | €0.9m | €1.0m | €1.2m | ▲ 17.0% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.4m | €0.5m | €0.6m | €0.7m | €0.8m | €1.0m | €1.1m | ▲ 18.2% |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Tax-exempt reserves132 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 33.3% |
| Distributable reserves133 | - | - | - | €0.5m | €0.6m | €0.8m | €0.9m | ▲ 15.5% |
| Profit (loss) carried forward14 | €0.008m | €0.006m | €0.01m | €0.01m | €0.006m | €0.005m | €0.005m | ▲ 0.3% |
| Amounts payable17/49 | €0.4m | €0.3m | €0.4m | €0.3m | €0.2m | €0.2m | €0.3m | ▲ 51.7% |
| Amounts payable after more than one year17 | €0.2m | €0.1m | €0.06m | €0.09m | €0.06m | €0.05m | €0.04m | ▼ 23.3% |
| Financial debts170/4 | - | - | - | €0.07m | €0.04m | €0.02m | €0.01m | ▼ 49.5% |
| Other amounts payable178/9 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | ▲ 4.6% |
| Amounts payable within one year42/48 | €0.2m | €0.2m | €0.3m | €0.2m | €0.2m | €0.2m | €0.3m | ▲ 75.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.03m | €0.03m | €0.02m | €0.01m | ▼ 30.8% |
| Trade debts44 | €0.06m | €0.09m | €0.2m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 107% |
| Suppliers440/4 | - | - | - | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 107% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.02m | €0.01m | €0.03m | ▲ 142% |
| Taxes450/3 | - | - | - | €0.009m | €0.01m | €0.005m | €0.02m | ▲ 347% |
| Remuneration and social security454/9 | - | - | - | €0.005m | €0.007m | €0.007m | €0.007m | ▲ 0.6% |
| Other amounts payable47/48 | - | - | - | €0.01m | - | €0.01m | €0.001m | ▼ 94.3% |
| Accrued charges and deferred income492/3 | - | - | - | €0.004m | €0.003m | €0.002m | €0.003m | ▲ 49.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €80,892 | €111,138 | €119,017 | €106,561 | €109,635 | €123,656 | €173,535 | ▲ 40.3% |
| + Depreciation and write-downs630 | €55,382 | €46,029 | €55,841 | €64,141 | €81,030 | €87,991 | €92,767 | ▲ 5.4% |
| Operating cash flow (approximation) | €136,274 | €157,166 | €174,858 | €170,702 | €190,665 | €211,646 | €266,301 | ▲ 25.8% |
| Investment in fixed assets (approximation) | - | -€5,335 | -€118,653 | -€79,999 | -€60,506 | -€53,790 | -€628 | ▲ 98.8% |
| Change in cash | - | €76,061 | €94,799 | -€38,875 | €57,596 | €108,512 | €345,979 | ▲ 219% |
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, 31,368 companies had the same profile as DEVEROL has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DEVEROL 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 31,368 companies, not a prediction for DEVEROL. 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 42 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-07-2025 | abbreviated format | 02-02-2026 | 2026-00034840 | |
| 31-07-2024 | abbreviated format | 04-02-2025 | 2025-00032186 | |
| 31-07-2023 | abbreviated format | 01-02-2024 | 2024-00024204 | |
| 31-07-2022 | abbreviated format | 23-02-2023 | 2023-00031953 | |
| 31-07-2021 | abbreviated format | 14-02-2022 | 2022-05700332 | |
| 31-07-2020 | abbreviated format | 01-03-2021 | 2021-06600313 | |
| 31-07-2019 | abbreviated format | 27-02-2020 | 2020-05700533 | |
| 31-07-2018 | abbreviated format | 15-02-2019 | 2019-05100582 | |
| 31-07-2017 | abbreviated format | 05-03-2018 | 2018-06200440 | |
| 31-07-2016 | abbreviated format | 24-02-2017 | 2017-05300067 |