Losses
Every financial year from 2020 to 2025 closed with a loss. 2021 was the heaviest.
Every financial year from 2020 to 2025 closed with a loss. 2021 was the heaviest.
Eight of the last ten came late. The 2019 accounts came latest: 60 days after the end of the period.
Higher solvency than 95% of companies in real estate. Sector median 28.9% · 17,194 companies.
The dashed line is the sector median: 0.2% across 26,626 companies (NACE 68, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 68, micro). It does better than 91% of them on solvency, 60% on liquidity, 54% on profitability and 42% on growth.
The bankruptcy probability was computed on 09-11-2026 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).
In July 2024, 2,686 companies had the same profile as Devola has now. Each dot stands for 7 companies, two years later.
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Devola itself: 0.1% within 12 months.
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 2,686 companies, not a prediction for Devola. 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.
Short-term debt is 0.3% and cash 2% of total assets. 0.6% of the assets are financed with debt and provisions.
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.
The company filed its last 7 accounts on average 21 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| Devola Rotselaar | €707,325 | €16,899 | 99.4% | - |
| Z-INVEST Liedekerke | €597,439 | €17,602 | 37.8% | - |
| PAR TERRE Kortenaken | €690,292 | €23,537 | 21.0% | - |
| MUIDE Ghent | €670,611 | €16,179 | 38.6% | - |
| Tom Haverhals Invest Brasschaat | €772,568 | €22,859 | 42.5% | - |
| IMMO TRUYERS Heusden-Zolder | €627,365 | €23,154 | 44.0% | - |
| NOVAZ Destelbergen | €649,448 | €19,569 | 7.8% | - |
These companies have the same main activity as Devola: buying and selling of own real estate (NACE 68110). They are comparable in size and age: total assets between €597,000 and €773,000, founded between 2010 and 2013.
Devola files the micro format. That format states no turnover. The gross margin fell from €58,374 in 2011 to €16,899 in 2025.
The balance sheet grew most from 2012 to 2013 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €65,000. Estimated: probably between €35,000 and €160,000.
Higher than 95% of 17,194 companies in 2025.
Higher than 95% of 16,290 companies in 2022.
Higher than 32% of 16,870 companies in 2025.
Net result: middle half · Equity: top quarter · Balance sheet total: middle half · Working capital: top quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||
20/58 |
707,325 | 713,354 | 750,367 | 760,495 | 803,624 | 725,629 | 736,176 | 735,495 | 700,513 | 700,980 | 691,220 | 692,381 | 704,506 | 451,954 | 349,883 | |
21/28 |
437,887 | 457,121 | 477,754 | 523,940 | 574,970 | 536,253 | 579,634 | 625,733 | 597,813 | 626,041 | 628,418 | 662,377 | 682,262 | 443,652 | 190,858 | |
22/27 |
437,887 | 457,121 | 477,754 | 523,940 | 574,970 | 536,253 | 579,634 | 625,733 | 597,813 | 626,041 | 628,418 | 662,377 | 682,262 | 443,652 | 190,858 | |
22 |
435,702 | 455,186 | 474,669 | 521,914 | 574,191 | 534,965 | 579,174 | 624,813 | 597,049 | 624,511 | 628,418 | 662,377 | 681,430 | 438,398 | 190,858 | |
23 |
989 | 313 | 1,035 | 2,026 | 779 | 1,289 | 460 | 921 | 765 | 1,529 | - | - | 832 | - | - | |
24 |
1,195 | 1,623 | 2,050 | - | - | - | - | - | - | - | - | - | - | 5,254 | - | |
29/58 |
269,438 | 256,233 | 272,613 | 236,555 | 228,654 | 189,376 | 156,542 | 109,762 | 102,700 | 74,939 | 62,802 | 30,003 | 22,244 | 8,302 | 159,025 | |
40/41 |
2,548 | 1,695 | - | 3,564 | 11,065 | 5,497 | 12,930 | 6,149 | 1,002 | - | 4 | 4 | - | 65 | - | |
40 |
- | - | - | 504 | 7,316 | 2,554 | 11,077 | 4,378 | - | - | - | - | - | - | - | |
41 |
2,548 | 1,695 | - | 3,060 | 3,749 | 2,943 | 1,853 | 1,771 | 1,002 | - | 4 | 4 | - | 65 | - | |
50/53 |
250,000 | 230,000 | 200,000 | - | - | - | - | - | - | - | - | - | - | - | - | |
54/58 |
13,813 | 22,662 | 70,997 | 231,847 | 217,362 | 183,272 | 143,014 | 103,033 | 101,698 | 74,939 | 62,798 | 30,000 | 22,238 | 7,293 | 159,025 | |
490/1 |
3,077 | 1,875 | 1,616 | 1,144 | 227 | 607 | 599 | 580 | - | - | - | - | 6 | 945 | - | |
| Balance sheet: equity and liabilities | ||||||||||||||||
10/49 |
707,325 | 713,354 | 750,367 | 760,495 | 803,624 | 725,629 | 736,176 | 735,495 | 700,513 | 700,980 | 691,220 | 692,381 | 704,506 | 451,954 | 349,883 | |
10/15 |
703,288 | 709,190 | 746,182 | 750,565 | 759,418 | 682,461 | 692,862 | 689,960 | 698,721 | 697,980 | 682,421 | 669,163 | 670,632 | 435,173 | 342,580 | |
10/11 |
791,814 | 791,814 | 826,814 | 826,814 | 826,814 | 733,195 | 733,195 | 733,195 | 733,195 | 733,195 | 733,195 | 733,195 | 733,195 | 465,695 | 333,195 | |
100 |
- | - | - | - | - | - | 733,195 | 733,195 | 733,195 | 733,195 | 733,195 | 733,195 | 733,195 | 733,195 | 733,195 | |
101 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 267,500 | 400,000 | |
13 |
- | - | - | 469 | 469 | 469 | 469 | 469 | 469 | 469 | 469 | 469 | 469 | 469 | 9,385 | |
130/1 |
- | - | - | - | - | 469 | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 469 | 469 | 469 | 469 | 469 | 469 | 469 | 469 | 469 | |
1311 |
- | - | - | - | - | 469 | - | - | - | - | - | - | - | - | - | |
133 |
- | - | - | 469 | 469 | - | - | - | - | - | - | - | - | - | 8,916 | |
14 |
-88,526 | -82,624 | -80,632 | -76,718 | -67,865 | -51,203 | -40,803 | -43,704 | -34,944 | -35,685 | -51,243 | -64,502 | -63,032 | -30,992 | - | |
17/49 |
4,037 | 4,164 | 4,185 | 9,930 | 44,206 | 43,168 | 43,315 | 45,535 | 1,792 | 3,000 | 8,799 | 23,218 | 33,874 | 16,781 | 7,302 | |
42/48 |
1,865 | 1,940 | 2,019 | 7,099 | 40,102 | 39,096 | 39,491 | 42,967 | 239 | 1,260 | 6,994 | 22,215 | 32,970 | 15,879 | 6,654 | |
44 |
- | - | - | 666 | 4,751 | 2,186 | - | 1,103 | - | - | - | - | 10,536 | 10,536 | - | |
440/4 |
- | - | - | 666 | 4,751 | 2,186 | - | 1,103 | - | - | - | - | 10,536 | 10,536 | - | |
45 |
- | - | - | - | 66 | 105 | 305 | 305 | 239 | - | 191 | 271 | 140 | 4,832 | 4,832 | |
450/3 |
- | - | - | - | 66 | 105 | 305 | 305 | 239 | - | 191 | 271 | 140 | 4,832 | 4,832 | |
47/48 |
1,865 | 1,940 | 2,019 | 6,433 | 35,285 | 36,804 | 39,186 | 41,559 | - | 1,260 | 6,803 | 21,943 | 22,295 | 510 | 1,822 | |
492/3 |
2,172 | 2,225 | 2,166 | 2,831 | 4,104 | 4,072 | 3,823 | 2,568 | 1,553 | 1,740 | 1,806 | 1,004 | 904 | 903 | 649 | |
| Income statement | ||||||||||||||||
70 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 30,700 | 60,000 | |
76A |
- | - | - | - | 1,500 | - | - | - | - | - | - | - | 766 | - | - | |
9900 |
16,899 | 17,818 | 53,220 | 50,897 | 46,313 | 44,060 | 57,058 | 50,817 | 44,301 | 59,623 | 52,104 | 40,738 | 38,599 | 22,324 | 58,374 | |
60/61 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 10,618 | 1,626 | |
630 |
20,681 | 20,633 | 51,637 | 53,196 | 54,902 | 46,455 | 46,099 | 53,734 | 38,806 | 39,548 | 33,960 | 37,589 | 67,707 | 60,242 | 42,337 | |
640/8 |
4,845 | 4,699 | 5,845 | 5,487 | 6,184 | 5,977 | 5,884 | 4,507 | 4,500 | 4,299 | 4,150 | 3,517 | 3,113 | 2,298 | 1,822 | |
9901 |
-8,627 | -7,514 | -4,263 | -7,786 | -14,773 | -8,372 | 5,075 | -7,425 | 995 | 15,776 | 13,995 | -368 | -32,222 | -40,217 | 14,216 | |
75/76B |
2,844 | 5,651 | - | - | - | - | - | - | - | - | - | 15 | 9 | 310 | 3 | |
75 |
2,844 | 5,651 | - | - | - | - | - | - | - | - | - | 15 | 9 | 310 | 3 | |
65/66B |
119 | 129 | 120 | 1,067 | 1,823 | 1,923 | 2,092 | 1,031 | 15 | 218 | 737 | 1,117 | 591 | 1 | 0 | |
65 |
119 | 129 | 120 | 1,067 | 1,823 | 1,923 | 2,092 | 1,031 | 15 | 218 | 737 | 1,117 | 591 | 1 | 0 | |
9903 |
-5,902 | -1,992 | -4,383 | -8,853 | -16,597 | -10,295 | 2,983 | -8,456 | 980 | 15,559 | 13,258 | -1,469 | -32,038 | -39,908 | 14,218 | |
67/77 |
- | - | - | - | 66 | 105 | 82 | 305 | 239 | - | - | - | 2 | - | 4,833 | |
9904 |
-5,902 | -1,992 | -4,383 | -8,853 | -16,662 | -10,400 | 2,901 | -8,761 | 741 | 15,559 | 13,258 | -1,469 | -32,041 | -39,908 | 9,385 | |
9905 |
-5,902 | -1,992 | -4,383 | -8,853 | -16,662 | -10,400 | 2,901 | -8,761 | 741 | 15,559 | 13,258 | -1,469 | -32,041 | -39,908 | 9,385 | |
| Appropriation of the result | ||||||||||||||||
9906 |
-88,526 | -82,624 | -81,101 | -76,718 | -67,865 | -51,203 | -40,803 | -43,704 | -34,944 | -35,685 | -51,243 | -64,502 | -63,032 | -39,908 | 9,385 | |
14P |
-82,624 | -80,632 | -76,718 | -67,865 | -51,203 | - | - | - | - | - | - | - | - | - | - | |
791/2 |
- | - | 469 | - | - | - | - | - | - | - | - | - | - | 8,916 | - | |
691/2 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 9,385 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 469 | |
6921 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 8,916 | |
| Document | ||||||||||||||||
The notes to these accounts have 5 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 03-08-2026.
2025 annual accounts filed 3 days after the deadline. Filed on 3 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00375232.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 03-08-2026 | 2026-00375232 | |
| 31-12-2024 | micro format | 26-08-2025 | 2025-00408239 | |
| 31-12-2023 | micro format | 26-08-2024 | 2024-00399871 | |
| 31-12-2022 | micro format | 14-07-2023 | 2023-00241217 | |
| 31-12-2021 | micro format | 26-08-2022 | 2022-20353517 | |
| 31-12-2020 | micro format | 24-08-2021 | 2021-53600230 | |
| 31-12-2019 | micro format | 29-09-2020 | 2020-56900388 | |
| 31-12-2018 | micro format | 26-08-2019 | 2019-51400442 | |
| 31-12-2017 | micro format | 13-07-2018 | 2018-33100538 | |
| 31-12-2016 | micro format | 29-08-2017 | 2017-51700294 | |
| 31-12-2015 | abbreviated format | 24-08-2016 | 2016-46500511 | |
| 31-12-2014 | abbreviated format | 27-08-2015 | 2015-49800394 | |
| 30-12-2013 | abbreviated format | 29-08-2014 | 2014-54100144 | |
| 30-12-2012 | abbreviated format | 22-08-2013 | 2013-45200310 | |
| 30-12-2011 | abbreviated format | 30-08-2012 | 2012-50600377 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12,054 | 13,119 | 47,375 | 45,410 | 40,129 | 38,083 | 51,175 | 46,309 | 39,802 | 55,324 | 47,955 | 37,221 | 35,485 | 20,026 | 56,552 | ||
| 14,779 | 18,641 | 47,254 | 44,343 | 38,240 | 36,055 | 49,001 | 44,974 | 39,548 | 55,106 | 47,218 | 36,119 | 35,667 | 20,335 | 51,722 | ||
| 1,446 | 0 | 5,452 | 2,166 | 93,619 | 3,075 | 0 | 81,654 | 10,579 | 37,170 | 0 | 17,704 | 306,317 | 313,036 | 233,195 | ||
| -8,850 | -48,334 | -160,850 | 14,485 | 34,090 | 40,258 | 39,981 | 1,335 | 26,759 | 12,141 | 32,799 | 7,762 | 14,945 | -151,732 | - | ||
| 267,573 | 254,293 | 270,594 | 229,456 | 188,552 | 150,280 | 117,051 | 66,795 | 102,460 | 73,679 | 55,809 | 7,789 | -10,726 | -7,577 | 152,371 | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | 23.7% | ||
| 99.4% | 99.4% | 99.4% | 98.7% | 94.5% | 94.1% | 94.1% | 93.8% | 99.7% | 99.6% | 98.7% | 96.6% | 95.2% | 96.3% | 97.9% | ||
| - | - | - | 33.32 | 5.70 | 4.84 | 3.96 | 2.55 | - | 59.46 | 8.98 | 1.35 | 0.67 | 0.52 | 23.90 | ||
| 0.01 | 0.01 | 0.01 | 0.01 | 0.06 | 0.06 | 0.06 | 0.07 | 0.00 | 0.00 | 0.01 | 0.03 | 0.05 | 0.04 | 0.02 | ||
| -0.8% | -0.3% | -0.6% | -1.2% | -2.2% | -1.5% | 0.4% | -1.3% | 0.1% | 2.2% | 1.9% | -0.2% | -4.8% | -9.2% | 2.7% | ||
| -0.8% | -0.3% | -0.6% | -1.2% | -2.1% | -1.4% | 0.4% | -1.2% | 0.1% | 2.2% | 1.9% | -0.2% | -4.5% | -8.8% | 2.7% | ||
| over 100 | over 100 | over 100 | 42.56 | 22.01 | - | - | - | - | - | - | - | - | - | - | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | 1 day | - | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | 362 days | - |
A ratio outside any meaningful range has been withheld (balance sheet total €707,325, equity €703,288).
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.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,446 | - | €5,452 | €2,166 | €93,619 |
| €20,681 | €20,633 | €51,637 | €53,196 | €54,902 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €8,627, larger than the loss of €7,514 in 2024. It is the lowest result since 2021.
Debt's share of the balance-sheet total stays at 0.6%.
Devola has no parent and no holdings in its annual accounts. Devola shares no director with another company.
| TRIAU & VERWIMP
establishment since 11-05-2009 · founded in 2009 |
10 FTE (2025) 0811.679.073 |
| Vertrinvest
establishment since 20-03-2017 · founded in 2017 · negative equity (2025) |
total assets €1.5m (2025) 0672.828.820 |
| AKT 3O
establishment since 01-01-2015 · founded in 2014 |
total assets €1.2m (2025) 0507.726.011 |
| DE VOS Center
registered office since 31-07-2012 · founded in 2012 |
total assets €531,617 (2025) 0848.102.771 |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Provinciebaan 97 registered office 3110 Rotselaar 6811001 Buying and selling of own real estate | 25-12-2011 | 2.212.514.273 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 24094B0096/00G000 | 6,129 m² | 1 · 413 m² | 9.7 m · 2 |
If something looks wrong or is missing, please tell us.