DEVLASELIN
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 24-07-2026 at the NBB all 2 filings
Turnover
≈ €1.1m
Estimated: probably between €980,000 and €1.5m
Total assets
€629,358▼ 10.8%
2024 · €705,709
Net result
€21,541▼ 61.4%
2024 · €55,741
Working capital
€15,384▼ 14.2%
2024 · €17,929
Multi-year overview
2024 to 2025, 2 financial yearsOperating result
€49,689
▼ 49.0%
2025
20242025
Net result
€21,541
▼ 61.4%
2025
middle half of the sector
20242025
Equity
€149,474
▼ 22.8%
2025
middle half of the sector
20242025
Total assets
€629,358
▼ 10.8%
2025
middle half of the sector
20242025
Debt
€479,884
▼ 6.3%
2025
20242025
Working capital
€15,384
▼ 14.2%
2025
middle half of the sector
20242025
Solvency
23.8%
▼ 3.7pp
2025
middle half of the sector
20242025
Current ratio
1.11
▲ 0.01
2025
middle half of the sector
20242025
Return on assets (ROA)
3.4%
▼ 4.5pp
2025
middle half of the sector
20242025
Staff (FTE)
7.9
▼ 14.1%
2025
middle half of the sector
20242025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20242025
Operating result€97,394-€49,689▼ 49.0%
Net result€55,741within the sector's middle half-€21,541within the sector's middle half▼ 61.4%
Equity€193,692within the sector's middle half-€149,474within the sector's middle half▼ 22.8%
Total assets€705,709within the sector's middle half-€629,358within the sector's middle half▼ 10.8%
Debt€512,017-€479,884▼ 6.3%
Working capital€17,929within the sector's middle half-€15,384within the sector's middle half▼ 14.2%
Solvency27.4%within the sector's middle half-23.8%within the sector's middle half▼ 3.7pp
Current ratio1.10within the sector's middle half-1.11within the sector's middle half▲ 0.01
Return on assets (ROA)7.9%within the sector's middle half-3.4%within the sector's middle half▼ 4.5pp
Staff (FTE)9.2within the sector's middle half-7.9within the sector's middle half▼ 14.1%
above
within
below
The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). 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 49% lower than in 2024.
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 €629,358
Fixed assets
€468,937 ▼ 6.8%
Current assets
€160,420 ▼ 20.8%
Equity and liabilities €629,358
Equity
€149,474 ▼ 22.8%
Debt
€479,884 ▼ 6.3%
Debt's share of the balance-sheet total rises from 72.6% to 76.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€124,988▼
2024 · €165,810
Cash flow
€96,840▼
2024 · €124,156
Quick ratio
0.99▼
2024 · 1.01
Debt to equity
3.21▲
2024 · 2.64
ROE
14.4%▼
2024 · 28.8%
Interest coverage
6.63▼
2024 · 12.50
Debt ≤ 1 year
€145,037▼
2024 · €184,543
Debt > 1 year
€324,072▲
2024 · €318,716
Income taxes
€10,378▼
2024 · €29,483
Staff costs
€321,583▲
2024 · €312,407
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2024 | 31-12-2025 |
|---|---|---|
| Employees at the balance-sheet date | 13 | 2 |
| full-time | 9 | 2 |
| part-time | 4 | - |
| in full-time equivalents | 10.6 | 2 |
| Average over the year, in full-time equivalents | 9.2 | 7.9 |
| Joined | 199 | 235 |
| Left | 192 | 246 |
Source: social balance sheet in the 2024 to 2025 annual accounts
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €264,126 | €40,473 |
| Financial fixed assets | €1,125 | €527 |
| Depreciation and write-downs of the year | €68,416 | €75,299 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | €312,407 | €321,583 | ▲ 2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €68,416 | €75,299 | ▲ 10.1% |
| Other operating charges640/8 | €3,942 | €4,128 | ▲ 4.7% |
| Gross operating margin9900 | €482,159 | €450,699 | ▼ 6.5% |
| Operating profit (loss)9901 | €97,394 | €49,689 | ▼ 49.0% |
| Financial income75/76B | €1,092 | €1,070 | ▼ 2.1% |
| Recurring financial income75 | €1,092 | €1,070 | ▼ 2.1% |
| Financial charges65/66B | €13,263 | €18,840 | ▲ 42.0% |
| Recurring financial charges65 | €13,263 | €18,840 | ▲ 42.0% |
| Profit (loss) for the period before taxes9903 | €85,223 | €31,919 | ▼ 62.5% |
| Income taxes67/77 | €29,483 | €10,378 | ▼ 64.8% |
| Profit (loss) for the period9904 | €55,741 | €21,541 | ▼ 61.4% |
| Profit (loss) for the period to be appropriated9905 | €55,741 | €21,541 | ▼ 61.4% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €705,709 | €629,358 | ▼ 10.8% |
| Fixed assets21/28 | €503,237 | €468,937 | ▼ 6.8% |
| Tangible fixed assets22/27 | €500,573 | €465,747 | ▼ 7.0% |
| Plant, machinery and equipment23 | €55,947 | €46,322 | ▼ 17.2% |
| Furniture and vehicles24 | €62,509 | €57,503 | ▼ 8.0% |
| Other tangible fixed assets26 | €382,117 | €361,921 | ▼ 5.3% |
| Financial fixed assets28 | €2,664 | €3,190 | ▲ 19.8% |
| Current assets29/58 | €202,472 | €160,420 | ▼ 20.8% |
| Stocks and contracts in progress3 | €16,158 | €16,158 | = |
| Stocks30/36 | €16,158 | €16,158 | = |
| Amounts receivable within one year40/41 | €5,803 | €24,705 | ▲ 326% |
| Trade receivables40 | €5,803 | €7,066 | ▲ 21.8% |
| Other amounts receivable41 | - | €17,639 | - |
| Cash at bank and in hand54/58 | €170,950 | €111,246 | ▼ 34.9% |
| Deferred charges and accrued income490/1 | €9,560 | €8,312 | ▼ 13.1% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €705,709 | €629,358 | ▼ 10.8% |
| Equity10/15 | €193,692 | €149,474 | ▼ 22.8% |
| Contributions10/11 | €1,000 | €1,000 | = |
| Reserves13 | €192,692 | €148,474 | ▼ 22.9% |
| Distributable reserves133 | €192,692 | €148,474 | ▼ 22.9% |
| Amounts payable17/49 | €512,017 | €479,884 | ▼ 6.3% |
| Amounts payable after more than one year17 | €318,716 | €324,072 | ▲ 1.7% |
| Financial debts170/4 | €265,457 | €226,456 | ▼ 14.7% |
| Other amounts payable178/9 | €53,258 | €97,616 | ▲ 83.3% |
| Amounts payable within one year42/48 | €184,543 | €145,037 | ▼ 21.4% |
| Current portion of amounts payable after more than one year42 | €37,891 | €42,501 | ▲ 12.2% |
| Financial debts43 | €18,763 | €18,704 | ▼ 0.3% |
| Credit institutions430/8 | €18,763 | €18,704 | ▼ 0.3% |
| Trade debts44 | €53,304 | €38,197 | ▼ 28.3% |
| Suppliers440/4 | €53,304 | €38,197 | ▼ 28.3% |
| Advances received on contracts in progress46 | €10,068 | €12,177 | ▲ 20.9% |
| Taxes, remuneration and social security45 | €63,658 | €33,457 | ▼ 47.4% |
| Taxes450/3 | €30,515 | €11,529 | ▼ 62.2% |
| Remuneration and social security454/9 | €33,143 | €21,928 | ▼ 33.8% |
| Other amounts payable47/48 | €859 | - | - |
| Accrued charges and deferred income492/3 | €8,759 | €10,775 | ▲ 23.0% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €55,741 | €21,541 | ▼ 61.4% |
| + Depreciation and write-downs630 | €68,416 | €75,299 | ▲ 10.1% |
| Operating cash flow (approximation) | €124,156 | €96,840 | ▼ 22.0% |
| Investment in fixed assets (approximation) | - | -€41,000 | - |
| Change in cash | - | -€59,704 | - |
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, 4,508 companies had the same profile as DEVLASELIN has now. Two years later, 96.9% were still going and 1.4% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
96.9%
was still going
1.6%
stopped otherwise
1.4%
went bankrupt
That fits the bankruptcy probability of DEVLASELIN itself: 0.8% 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 4,508 companies, not a prediction for DEVLASELIN. 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.