DEVISCH
ActiveSummary
DEVISCH has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €391,534 and a net result of -€3,824. Equity is growing by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 68% of 4564 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▼-2
Solvency82▼-2
Growth52=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 1.6 against 1.71 in 2024; short-term debt: 19.3% and cash: 20.6% of total assets), and 42.8% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 81
Relative position
BE, all sectors
reference
Services to buildings and landscape activities (NACE 81)
about 79% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
27 d late
2023
28 d late
2022
30 d late
2021
31 d late
2020
20 d late
2019
90 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 37 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 43% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€391,534▼ 1.0%
2024 · €395,358
Total assets
€684,051▲ 2.6%
2024 · €666,870
Net result
-€3,824
2024 · €5,880
Working capital
€79,221▼ 8.8%
2024 · €86,836
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€53,468▼ 55.1%€46,171▼ 13.6%€34,015▼ 26.3%€11,803▼ 65.3%€1,209▼ 89.8%
Net result€45,180▼ 56.3%€41,888▼ 7.3%€28,887▼ 31.0%€5,880▼ 79.6%-€3,824
Equity€361,204▲ 3.8%€379,592▲ 5.1%€395,479▲ 4.2%€395,358=€391,534▼ 1.0%
Total assets€738,124▼ 4.5%€758,205▲ 2.7%€677,763▼ 10.6%€666,870▼ 1.6%€684,051▲ 2.6%
Debt€369,543▼ 11.5%€371,604▲ 0.6%€275,673▼ 25.8%€265,298▼ 3.8%€287,701▲ 8.4%
Working capital€137,663▲ 9.5%€99,304▼ 27.9%€92,279▼ 7.1%€86,836▼ 5.9%€79,221▼ 8.8%
Staff (FTE)1▼ 16.7%0.1▼ 90.0%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen four years in a row; 2025 is 90% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €684,051
Fixed assets
€472,864 ▲ 3.4%
Current assets
€211,187 ▲ 0.8%
Equity and liabilities €684,051
Equity
€391,534 ▼ 1.0%
Provisions
€4,816 ▼ 22.5%
Debt
€287,701 ▲ 8.4%
Debt's share of the balance-sheet total rises from 39.8% to 42.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€95,951▲
2024 · €79,533
Cash flow
€90,917▲
2024 · €73,610
Current ratio
1.60▼
2024 · 1.71
Quick ratio
1.37▼
2024 · 1.49
Debt to equity
0.73▲
2024 · 0.67
ROE
-1.0%▼
2024 · 1.5%
ROA
-0.6%▼
2024 · 0.9%
Interest coverage
16.34▲
2024 · 12.70
Debt ≤ 1 year
€131,966▲
2024 · €122,648
Debt > 1 year
€134,383▲
2024 · €121,619
Income taxes
€700▲
2024 · €212
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,594 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.2%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 8,594 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €35,406 | €5,407 | €60 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €63,132 | €78,185 | €88,857 | €67,731 | €94,741 | ▲ 39.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €1,710 | - | - | - | - | - |
| Other operating charges640/8 | €1,422 | €1,519 | €1,218 | €868 | €1,993 | ▲ 130% |
| Gross operating margin9900 | €155,138 | €131,283 | €124,151 | €80,401 | €97,944 | ▲ 21.8% |
| Operating profit (loss)9901 | €53,468 | €46,171 | €34,015 | €11,803 | €1,209 | ▼ 89.8% |
| Financial income75/76B | €3 | €308 | €213 | €154 | €143 | ▼ 7.3% |
| Recurring financial income75 | €3 | €308 | €213 | €154 | €143 | ▼ 7.3% |
| Financial charges65/66B | €4,453 | €4,959 | €5,698 | €6,263 | €5,874 | ▼ 6.2% |
| Recurring financial charges65 | €4,453 | €4,959 | €5,698 | €6,263 | €5,874 | ▼ 6.2% |
| Profit (loss) for the period before taxes9903 | €49,018 | €41,520 | €28,531 | €5,694 | -€4,522 | ▼ 179% |
| Transfer from deferred taxes780 | €211 | €368 | €398 | €398 | €1,398 | ▲ 251% |
| Income taxes67/77 | €4,048 | - | €41 | €212 | €700 | ▲ 231% |
| Profit (loss) for the period9904 | €45,180 | €41,888 | €28,887 | €5,880 | -€3,824 | ▼ 165% |
| Transfer from tax-exempt reserves789 | €842 | €1,472 | €1,591 | €1,591 | €5,591 | ▲ 251% |
| Profit (loss) for the period to be appropriated9905 | €46,022 | €43,360 | €30,478 | €7,471 | €1,767 | ▼ 76.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €738,124 | €758,205 | €677,763 | €666,870 | €684,051 | ▲ 2.6% |
| Fixed assets21/28 | €409,477 | €465,428 | €479,117 | €457,386 | €472,864 | ▲ 3.4% |
| Tangible fixed assets22/27 | €406,398 | €462,750 | €476,438 | €454,707 | €470,185 | ▲ 3.4% |
| Land and buildings22 | €257,096 | €248,011 | €232,288 | €216,566 | €200,843 | ▼ 7.3% |
| Plant, machinery and equipment23 | €50,773 | €95,327 | €154,454 | €129,658 | €102,025 | ▼ 21.3% |
| Furniture and vehicles24 | €98,529 | €119,412 | €89,696 | €108,483 | €167,316 | ▲ 54.2% |
| Financial fixed assets28 | €3,079 | €2,679 | €2,679 | €2,679 | €2,679 | = |
| Current assets29/58 | €328,647 | €292,776 | €198,646 | €209,484 | €211,187 | ▲ 0.8% |
| Stocks and contracts in progress3 | €22,988 | €28,006 | €21,988 | €26,410 | €30,113 | ▲ 14.0% |
| Stocks30/36 | €22,988 | €28,006 | €21,988 | €26,410 | €25,113 | ▼ 4.9% |
| Contracts in progress37 | - | - | - | - | €5,000 | - |
| Amounts receivable within one year40/41 | €45,329 | €60,753 | €43,620 | €45,533 | €34,542 | ▼ 24.1% |
| Trade receivables40 | €43,571 | €47,074 | €32,935 | €39,531 | €23,253 | ▼ 41.2% |
| Other amounts receivable41 | €1,758 | €13,679 | €10,685 | €6,002 | €11,289 | ▲ 88.1% |
| Cash at bank and in hand54/58 | €251,029 | €195,922 | €125,175 | €135,929 | €140,873 | ▲ 3.6% |
| Deferred charges and accrued income490/1 | €9,302 | €8,095 | €7,863 | €1,612 | €5,659 | ▲ 251% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €738,124 | €758,205 | €677,763 | €666,870 | €684,051 | ▲ 2.6% |
| Equity10/15 | €361,204 | €379,592 | €395,479 | €395,358 | €391,534 | ▼ 1.0% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €342,604 | €360,992 | €376,879 | €376,758 | €372,934 | ▼ 1.0% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Tax-exempt reserves132 | €68,676 | €67,204 | €65,613 | €64,022 | €58,431 | ▼ 8.7% |
| Distributable reserves133 | €272,068 | €291,927 | €311,266 | €312,736 | €314,503 | ▲ 0.6% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | - |
| Provisions and deferred taxes16 | €7,377 | €7,009 | €6,611 | €6,213 | €4,816 | ▼ 22.5% |
| Deferred taxes168 | €7,377 | €7,009 | €6,611 | €6,213 | €4,816 | ▼ 22.5% |
| Amounts payable17/49 | €369,543 | €371,604 | €275,673 | €265,298 | €287,701 | ▲ 8.4% |
| Amounts payable after more than one year17 | €178,299 | €177,685 | €169,232 | €121,619 | €134,383 | ▲ 10.5% |
| Financial debts170/4 | €178,299 | €177,685 | €169,232 | €121,619 | €134,383 | ▲ 10.5% |
| Amounts payable within one year42/48 | €190,985 | €193,473 | €106,367 | €122,648 | €131,966 | ▲ 7.6% |
| Current portion of amounts payable after more than one year42 | €52,573 | €69,309 | €63,553 | €54,847 | €70,486 | ▲ 28.5% |
| Trade debts44 | €85,908 | €92,807 | €23,949 | €58,117 | €60,125 | ▲ 3.5% |
| Suppliers440/4 | €85,908 | €92,807 | €23,949 | €58,117 | €60,125 | ▲ 3.5% |
| Taxes, remuneration and social security45 | €5,613 | - | €15 | €181 | €673 | ▲ 272% |
| Taxes450/3 | €4,592 | - | €15 | €181 | €673 | ▲ 272% |
| Remuneration and social security454/9 | €1,020 | - | - | - | - | - |
| Other amounts payable47/48 | €46,891 | €31,357 | €18,850 | €9,503 | €683 | ▼ 92.8% |
| Accrued charges and deferred income492/3 | €259 | €447 | €73 | €21,032 | €21,352 | ▲ 1.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €45,180 | €41,888 | €28,887 | €5,880 | -€3,824 | ▼ 165% |
| + Depreciation and write-downs630 | €63,132 | €78,185 | €88,857 | €67,731 | €94,741 | ▲ 39.9% |
| Operating cash flow (approximation) | €108,312 | €120,073 | €117,744 | €73,610 | €90,917 | ▲ 23.5% |
| Investment in fixed assets (approximation) | - | -€134,137 | -€102,545 | -€46,000 | -€110,219 | ▼ 140% |
| Change in cash | - | -€55,106 | -€70,747 | €10,754 | €4,944 | ▼ 54.0% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet -€3,824
Net result drops to -€3,824, the lowest in the series.
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
20-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 20 days late
2020
31-12
Financial
Highest result since 2018net €103,337 ▲264%
Operating result €118,969, net result €103,337, both a record.
31-12
Financial
Liquidity triplescurrent ratio 1.67
Current ratio from 0.63 to 1.67; short-term debt falls from €270,002 to €186,462.
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 90 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
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.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Houthulst · 1 establishment unit since 1991
Ground area
5,541 m²
Building footprint
1,086 m²
Volume, LiDAR
7,695 m³
Parcel 32006D0103/00W000, Flanders · tallest building 8.8 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Nijverheidsstraat 11, 8650 Houthulst
since 19912.053.705.873
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 32006D0103/00W000 | Flanders | 5,541 m² | 1 · 1,086 m² | 8.8 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 4 entries · 1,415 EUR awarded · 1,415 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 1,089 EUR | 1,089 EUR |
| 2024 | 1 | 30 EUR | 30 EUR |
| 2023 | 1 | 296 EUR | 296 EUR |
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Of 21,225 companies in sector 81300 we hold annual accounts for 4,366. 2,871 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded27-06-1991
Fiscal year end31-12
Activities, NACEBEL 2025
81300Landscape service activities
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0444535855
Also
9925:BE0444535855
Registered
24-01-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.