Equity
-€12,694
Debts exceed assets in financial year 2025.
DevNation
Overview
Lifetime
2 annual accounts with figures on one time axispeak -€5,859 (2024)
-€12,738▼ €6,878
lowest -€12,935 (2025)
-€12,935▼ €7,076
peak €241 (2024)
-€12,694▼ €12,935
€15,031▲ 395%
Board1 name since 2024
1 directorJAYAPRAKASH CHALIYATH Arjun
Documentsfilings and deeds
01-07-202630 days before the deadline
2025micro format
Gross margin from -€5,859 to -€12,738Loss of €12,935Equity from €241 to -€12,694Debts from €3,035 to €15,0311 establishment registeredCash from €2,671 to €1,202
Key points
from the 2025 annual accountsLosses
-€18,794 in two years
The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.
Position in the sector
-543.2%
Lower solvency than 95% of companies in computer programming and consultancy. Sector median 60.0% · 21,205 companies.
Turnover not published (micro format)
Checked score
53
Fair
Financially stronger than 9% of micro companies in computer programming and consultancy (NACE 62)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 25,932 companies (NACE 62, micro).
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
06-2025: 0.4%highest value
07-2025: 0.4%● unchanged vs 06-2025highest value
08-2025: 0.1%▼ -0.3 percentage points vs 07-2025lowest value
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.2%▲ +0.1 percentage points vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: 0.3%▲ +0.1 percentage points vs 07-2026
09-2026: 0.3%● unchanged vs 08-2026
10-2026: 0.3%● unchanged vs 09-2026
11-2026: 0.3%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
Negative equity -€12,694
Loss of €12,935, the second in a row (financial year 2025)
lowers risk
Sector: Computer programming, consultancy and related activities (NACE 62)
Size: total assets €2,337
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 62, micro). It does better than 3% of them on solvency, 27% on liquidity, 5% on profitability and 0% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 7,639 companies had the same profile as DevNation has now. Each dot stands for 20 companies, two years later.
84.8%
were still trading
5.6%
stopped another way
8.8%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of DevNation itself is lower: 0.3% within 12 months. It rests on far more data about DevNation than the profile alone.
Test of the method
The method was tested on the 497,447 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 7,639 companies, not a prediction for DevNation. 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.
Credit verdict
No credit on open account
The balance sheet total is too small for a liquidity verdict. Equity is negative.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
2425
2024 to 2025 · latest year -€12,694
raises risk · Young company
Founded in 2024, 2 years ago. Young companies fail more often than established ones; the risk is highest 2 to 8 years after founding.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-07-2026, 30 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
30 days early
2024
7 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 19 days before the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- JAYAPRAKASH CHALIYATH Arjun 4,880 sharesdeed of 29-05-2024
- THIRUMANGALATH Hifsul Ali 610 sharesdeed of 29-05-2024
- KALIYARAKATH OTTAYIL Sajid 610 sharesdeed of 29-05-2024
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:1009718530
New establishment in Etterbeek
Witte Patersstraat 4
Incorporation
Founding capital of €6,100, 6,100 shares · Founders: JAYAPRAKASH CHALIYATH Arjun, THIRUMANGALATH Hifsul Ali and KALIYARAKATH OTTAYIL Sajid · Appointment: JAYAPRAKASH CHALIYATH Arjun (director) · published on 29-05-2024 · Gazette deed
First establishment
Chaussée de Wavre 533, Grez-Doiceau
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| DevNation Grez-Doiceau | €2,337 | -€12,738 | -543.2% | - |
| AFLEXOR Auderghem | €2,400 | -€6,362 | -185.8% | - |
| HOKU Schaerbeek | €2,519 | €653 | 4.9% | - |
| LRD Consulting Woluwe-Saint-Lambert | €2,425 | -€587 | -250.6% | - |
| I.V.I TECHNOLOGY Liège | €2,573 | -€676 | 99.4% | - |
| SOCIALFLOW Hasselt | €2,704 | -€5,943 | -261.5% | - |
| SYNAPSES Uccle | €1,953 | -€1,446 | 65.4% | - |
These companies have the same main activity as DevNation: computer programming (NACE 62100). They are comparable in size and age: total assets between €1,950 and €2,700, founded in 2024.
Official details
Source: KBO- Status
- Active since 27-05-2024Normal situation
- Activity
- Computer programmingNACE 62100and 3 others
- Establishment units
- 2.359.919.4331390 Grez-Doiceau, since 27-05-2024
- 2.371.004.7511040 Etterbeek, since 01-03-2025
- Financial year end
- 31 December
- Peppol
- Reachable since 31-03-2026
Annual accounts 2025
- -€12,738▼ 117%
- €12,935▲ 121%
- -€12,694
- €2,337▼ 28.7%
- Filing
- Filed on 01-07-2026, 30 days before the end of the filing period
Insights on DevNation
DevNation has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€12,694) and a net result of -€12,935.
Its solvency ranks better than 5% of 21,205 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 01-07-2026, 30 days before the deadline-€12,738
▼ €6,878
-€12,803
▼ €6,944
-€12,935
▼ €7,076
-€13,205
▼ €13,446
-
-
Turnover and EBIT margin are not published. The micro format does not require them.
Balance sheet
balance sheet total €2,337 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| Balance sheet: assets | |||
20/58 |
2,337 | 3,276 | |
21/28 |
511 | - | |
28 |
511 | - | |
29/58 |
1,826 | 3,276 | |
40/41 |
604 | 605 | |
40 |
604 | 605 | |
54/58 |
1,202 | 2,671 | |
490/1 |
19 | - | |
| Balance sheet: equity and liabilities | |||
10/49 |
2,337 | 3,276 | |
10/15 |
-12,694 | 241 | |
10/11 |
6,100 | 6,100 | |
14 |
-18,794 | -5,859 | |
17/49 |
15,031 | 3,035 | |
42/48 |
15,031 | 3,035 | |
44 |
260 | - | |
440/4 |
260 | - | |
45 |
573 | 290 | |
450/3 |
573 | 290 | |
47/48 |
14,198 | 2,746 | |
| Income statement | |||
9900 |
-12,738 | -5,859 | |
640/8 |
66 | - | |
9901 |
-12,803 | -5,859 | |
65/66B |
132 | - | |
65 |
132 | - | |
9903 |
-12,935 | -5,859 | |
9904 |
-12,935 | -5,859 | |
9905 |
-12,935 | -5,859 | |
| Appropriation of the result | |||
9906 |
-18,794 | -5,859 | |
14P |
-5,859 | - | |
| Document | |||
The notes to these accounts have 3 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 01-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| 511 | - | ||
| -1,469 | - | ||
| -13,205 | 241 |
The ratios are withheld because a balance sheet total of €2,337 is too small for a meaningful ratio.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 |
|---|---|---|
| Financial fixed assets | €511 | - |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Insights on DevNation
The operating result for 2025 is a loss of €12,803, larger than the loss of €5,859 in 2024.
Equity is negative. Debt (€15,031) exceeds the balance-sheet total (€2,337).
Board & ownership
Board
1 director, since incorporationDirector (not named in the articles)
appointed by deed of 29-05-2024
term without a fixed end
Mandates through the years
1 name, the dashed line is todayJAYAPRAKASH CHALIYATH Arjun
Director (not named in the articles)
Director (not named in the articles)
Board
Mandates as a list
- JAYAPRAKASH CHALIYATH Arjun
- Director (not named in the articles), appointed by deed of 29-05-2024, still in office
Control
Founders
JAYAPRAKASH CHALIYATH Arjun, THIRUMANGALATH Hifsul Ali, KALIYARAKATH OTTAYIL Sajid
This company
DevNation
Equity -€12,694
Loss €12,935 in 2025
Capital
- Contribution
- €6,100
- Shares
- 6,100
- Contribution per share
- €1
- Equity per share
- -€2.08 in 2025
- Source
- deed of 29-05-2024
Articles of association
deed of 29-05-2024 (in French)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- At least 1 director
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Last Saturday of June at 18:00
Shareholders
At incorporation
deed of 29-05-2024 ↗
- JAYAPRAKASH CHALIYATH Arjun 4,880 shares (80%) · €4,880
- THIRUMANGALATH Hifsul Ali 610 shares (10%) · €610
- KALIYARAKATH OTTAYIL Sajid 610 shares (10%) · €610
Network & group
No group
DevNation has no parent and no holdings in its annual accounts. JAYAPRAKASH CHALIYATH Arjun is the only director. DevNation shares no director with another company.
At the same address
Chaussée de Wavre 533, 1390 Grez-Doiceau · 2 other companies| Jayaprakash Chaliyath, Arjun (sole trader)
establishment since 20-08-2026 |
founded in 2026 1041.605.695 |
| Manfron, Emilie (sole trader)
establishment since 17-10-2019 |
founded in 2017 0678.832.823 |
Timeline
Timeline
6 events since 2024Filings
Establishments
202420252026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed NBBmicro format · 30 days before the deadline
Registered in the Peppol Directory Reachable for e-invoices through 0208:1009718530
2025
Annual accounts 2024 filed NBBmicro format · 7 days before the deadline
New establishment in Etterbeek Witte Patersstraat 4
2024
IncorporationFounding capital of €6,100, 6,100 shares · Founders: JAYAPRAKASH CHALIYATH Arjun, THIRUMANGALATH Hifsul Ali and KALIYARAKATH OTTAYIL Sajid · Appointment: JAYAPRAKASH CHALIYATH Arjun (director) · published on 29-05-20248 points ▸
- Founder, JAYAPRAKASH CHALIYATH Arjun
- Founder, THIRUMANGALATH Hifsul Ali
- Founder, KALIYARAKATH OTTAYIL Sajid
- Founding capital, €6,100, 6,100 shares
- 6,100 shares
- Registered office clause, Chaussée de Wavre 533, 1390 Grez-Doiceau
- Board rule, 1
- Director appointment, JAYAPRAKASH CHALIYATH Arjun (director (not named in the articles))
- The deed holds 8 more points.
First establishment Chaussée de Wavre 533, Grez-Doiceau
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
On 27 May 2024, DevNation was incorporated as a private limited company by three natural persons, with a starting capital of €6,100.12 JAYAPRAKASH CHALIYATH Arjun is director of the company, appointed by deed of 29-05-2024.2 The company has filed 2 sets of annual accounts, the latest for financial year 2025.3
Company details
Identity
- Enterprise number
- 1009.718.530
- VAT number
- BE 1009.718.530
- Peppol ID
- 0208:1009718530
- Other Peppol ID
- 9925:BE1009718530
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 27-05-2024
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Last Saturday of June at 18:00deed of 29-05-2024 (in French)
- Peppol
- Reachable since 31-03-2026Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- DevNation in French
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 29-05-2024 (in French)
Activities
NACEBEL 202562100
Computer programming main activity
Codes under NACEBEL 2008
62010
Computer programming, consultancy and related activities main activity
58290
Publishing activities
62030
Computer programming, consultancy and related activities
74103
Other professional, scientific and technical activities
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Software development, web development, graphics design, marketing and custom application development; Assistance, conseil et orientation aux…”deed of 29-05-2024 (in French)
23 activities
- Software development, web development, graphics design, marketing and custom application development.
- Assistance, conseil et orientation aux entreprises, aux particuliers et aux institutions, principalement mais non exclusivement dans le domaine de la gestion, du marketing, de la production et du développement, de la transformation et de la gestion d’entreprises, le tout au sens le plus large.
- Fournir elle-même ou en tant qu’intermédiaire tous les moyens auxiliaires, agir ou faire agir d’autres personnes en tant qu’administrateurs et fournir des services directement ou indirectement liés à ce qui précède. Ces services peuvent être fournis en vertu d’un engagement contractuel ou statutaire et en qualité de consultant externe ou d’organe du client.
- Toutes les activités concernant l’organisation d’événements ainsi que l’organisation de cours, d’ateliers et de démonstrations au sens le plus large.
- Prendre des participations sous n’importe quelle forme dans toutes les entités juridiques et sociétés existantes ou à créer, promouvoir, planifier, coordonner, développer et investir dans des entités juridiques et des sociétés dans lesquelles elle détient ou non une participation ;
- Accorder des prêts et des ouvertures de crédit à des entités juridiques et à des sociétés ou à des particuliers, sous n’importe quel forme ; dans ce contexte, elle peut également se porter garante ou fournir sa garantie, au sens le plus large, effectuer toutes les opérations commerciales et financières à l’exception de celles qui sont légalement réservées aux banques de dépôt, aux détenteurs de dépôts à court terme, aux caisses d’épargne, aux sociétés de crédit hypothécaire et aux sociétés de capitalisation.
- Fournir des conseils de nature financière, technique, commerciale ou administrative, au sens le plus large, à l’exception des conseils en matière d’investissements et de placements monétaires.
- Fournir une assistance et des services, directement ou indirectement, dans les domaines de l’administration et des finances, de la vente, de la production et de la gestion générale.
- La société peut faire toutes opérations commerciales, industrielles, immobilières, mobilières ou financières se rattachant directement ou indirectement à son objet ou susceptibles d’en faciliter la réalisation.
- La société peut s’associer par voie d’apport, de fusion, de souscription ou de toute autre manière, dans les entreprises, associations ou sociétés ayant un objet similaire, analogue ou connexe ou qui sont utiles à la réalisation de tout ou partie de son objet.
- L’énumération ci-dessus n’est pas limitative, de sorte que la société peut accomplir tous les actes qui peuvent, d’une manière ou d’une autre, contribuer à la réalisation de son objet.
- Elle dispose, d’une manière générale, d’une pleine capacité juridique pour accomplir tous les actes et opérations ayant un rapport direct ou indirect avec son objet ou qui seraient de nature à faciliter directement ou indirectement, entièrement ou partiellement, la réalisation de cet objet.
- Elle peut s'intéresser par voie d'association, d'apport, de fusion, d'intervention financière ou autrement dans toutes sociétés, associations ou entreprises dont l'objet est identique, analogue ou connexe au sien ou susceptible de favoriser le développement de son entreprise ou de constituer pour elle une source de débouchés.
- Elle peut exercer les fonctions d’administrateur ou liquidateur dans d’autres sociétés.
- La société peut se porter garant ou fournir des sûretés réelles pour des sociétés ou des personnes privées, au sens le plus large.
- Au cas où la prestation de certains actes serait soumise à des conditions préalables d'accès à la profession, la société subordonnera son action, en ce qui concerne la prestation de ces actes, à la réalisation de ces conditions.
- La liste n'est pas exhaustive, mais indicative.
- La constitution, le développement judicieux et la gestion d’un patrimoine immobilier ; toutes les opérations relatives aux biens immobiliers et aux droits réels immobiliers, telles que le crédit-bail immobilier à des tiers, l’achat, la vente, l’échange, la construction, la transformation, l’entretien, la location, le lotissement, la prospection et l’exploitation de biens immobiliers ; l’achat et la vente, la location et l’affermage de biens mobiliers, ainsi que tous les actes se rapportant directement ou indirectement à cet objet et de nature à favoriser la rentabilité des biens mobiliers et immobiliers, ainsi qu’à se porter garant de la bonne exécution des engagements pris par les tiers qui auraient la jouissance de ces biens mobiliers et immobiliers.
- La constitution, le développement judicieux et la gestion d’un patrimoine mobilier, toutes les opérations relatives aux biens et droits mobiliers, de quelque nature qu’elles soient, telles que l’acquisition par souscription ou achat et la gestion d’actions, d’obligations, de bons de caisse ou d’autres titres mobiliers, sous quelque forme que ce soit, de personnes morales et de sociétés belges ou étrangères, existantes ou à constituer.
- Des activités spécifiques
- Des activités générales
- Disposition particulières
- Gestion du patrimoine mobilier et immobilier propre
Registered office and establishments
2 establishments| Establishment | Since | Unit number |
|---|---|---|
| Chaussée de Wavre 533 registered office 1390 Grez-Doiceau | 27-05-2024 | 2.359.919.433 |
| Witte Patersstraat 4 1040 Etterbeek | 01-03-2025 | 2.371.004.751 |
Buildings and parcels at the addresses
- Ground area
- 3,638 m²
- Buildings
- 2,273 m²
- Volume, LiDAR
- 22,206 m³
- Tallest building
- 12.0 m
Buildings to scale, each on its own parcel
Parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21363B0348/00A002 | Brussels | 3,170 m² | 1 · 2,221 m² | 12.0 m · 3 |
| 25037E0390/02X000 | Wallonia | 469 m² | 1 · 52 m² | 10.2 m · 3 |