Devine · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of Devine is 1.7% (moderate). The 2023 annual accounts show negative equity (€-41k) and a net result of €-8k. Equity is shrinking by ~50.2% per year across the filed fiscal years. Its solvency ranks better than 5% of 1445 sector peers (fiscal year 2023). The company has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 6 annual accounts.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

1.7% Moderate

0%0,5%1,5%4%10%≥25%

Annual accounts: weaker financial profile +Higher-failure-rate region +Lower-failure-rate sector −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Signals

1 signal · with evidence

Negative equity

Equity is negative for financial year 2023: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).

View the annual accounts

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Annual accounts not filed

The financial year that closed on 31-12-2024 was due at the National Bank by 31-07-2025. Nothing is on record today, 396 days later. 2 financial years are missing in total. Measured on financial year 2023: 41.75% of the companies that did not file are in an abnormal legal state today, against 1.66% of those that did.

Latest accounts filed on time

The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 08-07-2024, 23 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.

How we compute the deadline

The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2023, that is 31-07-2024.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	nothing on record	not filed	-
31-12-2024	31-07-2025	nothing on record	not filed	-
31-12-2023	31-07-2024	08-07-2024	23 d early	2024-00219330
31-12-2022	31-07-2023	14-07-2023	17 d early	2023-00235626
31-12-2021	31-07-2022	19-07-2022	12 d early	2022-20199576
31-12-2020	31-07-2021	20-07-2021	11 d early	2021-38000110
31-12-2019	31-07-2020	13-07-2020	18 d early	2020-28700486
31-12-2018	31-07-2019	02-07-2020	337 d late	2020-24900419
31-12-2017	31-07-2018	18-06-2020	688 d late	2020-18600383
31-12-2016	31-07-2017	27-09-2017	58 d late	2017-63100335
31-12-2015	31-07-2016	21-10-2016	82 d late	2016-65900264
31-12-2014	31-07-2015	30-09-2015	61 d late	2015-62400156

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

Established

Founded in 2013, 13 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€-8k-4.4%

Working capital€-46k-22.8%

CSV export

Annual accounts & ratios

Source: NBB · 2023

Annual accounts filed on 08-07-2024 with the NBB · fiscal year 2023 · verkort

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

declining Gross margin: declining trend of ~10.5%/year over 6 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2023 · NACE 68, Real estate activities · compared within the same schema type (abbreviated schema)

Metric	This company	Sector median	Position in the sector
Solvency	-262.4%	13.5%	better than 5% of 1445 sector peers
Net result	€-8k	€465	better than 38% of 1441 sector peers
Equity	€-41k	€94k	better than 14% of 1445 sector peers
Gross operating margin	€-7k	€43k	better than 19% of 1441 sector peers
Total assets	€16k	€1.34M	better than 5% of 1445 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P5

Stable position over 2020-2023 · n=472-1445

Net result P38

Improving position over 2020-2023 · n=472-1441

Equity P14

Stable position over 2020-2023 · n=472-1445

Gross operating margin P19

Stable position over 2020-2023 · n=471-1441

Describes the position versus peers, not a forecast.

Net profit

€-8k

-4.4% 18-23

Total assets

€16k

+14.9% 18-23

Equity

€-41k

-26.0% 18-23

Working capital

€-46k

-22.8% 18-23

Income taxes

€0

-100.0% 18-23

Debt

€57k

+22.7% 18-23

Debt ≤ 1y

€57k

+22.7% 18-23

Current ratio

0.20

-0.3% 18-23

Show 5 other metrics

Quick ratio

0.20

-0.3% 18-23

Solvency

-262.4%

-9.6% 18-23

Debt / equity

-1.38

+2.6% 18-23

ROE

20.6%

-17.1% 18-23

ROA

-54.1%

+9.2% 18-23

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2023
Deposit	verkort
Revenue	-
EBITDA	-
Net profit	€-8k
Cash flow	-
Staff costs	-
Income taxes	-
Dividends	-
Total assets	€16k
Equity	€-41k
Debt	€57k
of which ≤ 1y	€57k
of which > 1y	-
Working capital	€-46k
Employees (FTE)	-

Ratios (computed)

	2023
Current ratio	0.20
Quick ratio	0.20
Working capital ratio	-291.4%
Solvency	-262.4%
Debt / equity	-1.38
Long-term debt ratio	-
Interest coverage	-
Gross margin	-
Net margin	-
ROA	-54.1%
ROE	20.6%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2023

Assets

Fixed assets €5k · 29.0% Current assets €11k · 71.0%

Full annual accounts (20 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2023
Balance sheet, Assets
TOTAL ASSETS	20/58	€16k
Fixed assets	21/28	€5k
Financial fixed assets	28	€5k
Current assets	29/58	€11k
Amounts receivable within one year	40/41	€5k
Cash & bank	54/58	€6k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€16k
Equity	10/15	€-41k
Contributions / capital	10/11	€12k
Reserves	13	€2k
Accumulated profits (losses)	14	€-55k
Amounts payable	17/49	€57k
Amounts payable within one year	42/48	€57k
Trade debts payable within one year	44	€600
Income statement
Gross operating margin	9900	€-7k
Operating result	9901	€-7k
Financial charges	65	€1k
Result before taxes	9903	€-8k
Net result for the period	9904	€-8k
Result to be appropriated	9905	€-8k

This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2023 · computed

17 / 100 Critical

050100

Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2023. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

on the map · from the address register

exact location from the address register On OpenStreetMap

267 companies at this address See who is registered here

Establishment units

1 location

Devine

Drukpersstraat 4, 1000 BrusselManagementsactiviteiten van holdings : tussenkomen in het dagelijks bestuur, vertegenwoordigen van bedrijven op grond van bezit van of controle over het maatschappelijk kapitaal, enz.

since 20132.258.358.552

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels1

Ground area100 m²

Buildings1

Building footprint99 m²

Volume (LiDAR)2,129 m³

Tallest building23.6 m · ±8 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Brussels 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21803C0244/00A002	Brussels	100 m²	1 · 99 m²	23.6 m · 8 fl.

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgian State Gazette · acts

0 of 4 acts read

We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.

Analysis

Financial profile

5 of 5 axes measured

56 / 100

Mixed profile: strong on profitability, weaker on health.

All 5 axes are computed from data Checked has read.

Health 17

Profitability 100

Solvency 33

Growth 32

Stability 100

Credit advice

verdict per customer and amount

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We hold annual accounts for 1,111 of the 11,982 companies in this sector. 437 of them are within a factor 10 of this company's equity.

See full sector →

Company registry

Company registry (CBE)

Crossroads Bank

Activities

Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen68203

Primary activity highlighted.

Names & trade names

Legal nameNL

Devine

Registered office

Drukpersstraat 4

1000 Brussel, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.