Equity
DEVOLEC paid out €234,673 in dividends. That is 504% of the 2025 profit.
DEVOLEC paid out €234,673 in dividends. That is 504% of the 2025 profit.
The accounts state no turnover.
Debts rose by €201,622 in 2025. A dividend stands under other debts on the balance sheet date until it is paid.
Short-term debts rose from €125,330 to €365,454.
The last five annual accounts were filed 27 to 44 days before the end of the period.
Higher net result than 85% of companies in specialised construction. Sector median €9,998 · 37,193 companies.
In July 2024, 5,052 companies had the same profile as DEVOLEC has now. Each dot stands for 13 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,762 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 5,052 companies, not a prediction for DEVOLEC. 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.
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.
| Company | ||||
|---|---|---|---|---|
| DEVOLEC Harelbeke | €596,514 | €189,915 | 30.0% | - |
| ELSEC Jabbeke | €630,548 | €178,795 | 83.1% | - |
| DEGHEZELLE ELEKTRO Ardooie | €647,681 | €174,925 | 27.6% | - |
| VERSTRAETE E & P Torhout | €674,966 | €177,386 | 92.0% | - |
| ENLIGHTED Beernem | €528,053 | €212,987 | 27.2% | - |
| Henk Vandenbogaerde Anzegem | €598,063 | €207,161 | 86.1% | - |
| VVR ELEKTRO Wevelgem | €585,704 | €226,582 | 53.5% | 4.3 |
These companies have the same main activity as DEVOLEC: general electrical installation work (NACE 43211). They are comparable in size and age: total assets between €528,000 and €675,000, founded between 2010 and 2014.
DEVOLEC files the micro format. That format states no turnover. The gross margin rose from €87,848 in 2013 to €189,915 in 2025.
The balance sheet grew most from 2015 to 2017 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €560,000. Estimated: probably between €380,000 and €690,000.
Higher than 32% of 37,211 companies in 2025.
Higher than 12% of 36,505 companies in 2025.
Higher than 52% of 36,740 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: bottom quarter
Staff costs divided by the average number of full-time equivalents.
Training hours in 2025: 2.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||
20/58 |
596,514 | 582,961 | 730,393 | 784,150 | 831,195 | 831,889 | 634,060 | 424,422 | 581,486 | 428,660 | 222,793 | 144,856 | 162,491 | |
20 |
- | - | - | - | - | - | - | - | - | - | - | - | 309 | |
21/28 |
328,080 | 370,903 | 397,807 | 440,863 | 426,679 | 470,521 | 254,935 | 236,373 | 248,969 | 205,911 | 22,047 | 13,612 | 8,873 | |
22/27 |
328,080 | 370,903 | 397,807 | 440,863 | 426,679 | 470,521 | 254,935 | 236,373 | 248,969 | 205,911 | 22,047 | 13,612 | 8,563 | |
22 |
310,072 | 337,204 | 365,231 | 394,351 | 382,681 | 411,581 | 235,263 | 234,619 | 243,610 | 192,050 | - | - | - | |
23 |
- | - | 436 | 928 | 1,445 | 866 | 2,209 | 1,051 | - | - | - | - | - | |
24 |
18,008 | 33,699 | 32,140 | 45,584 | 42,553 | 58,074 | 17,463 | 704 | 5,359 | 13,861 | 22,047 | 8,474 | - | |
29/58 |
268,434 | 212,058 | 332,586 | 343,287 | 404,516 | 361,368 | 379,125 | 188,049 | 332,517 | 222,748 | 200,746 | 131,244 | 153,619 | |
29 |
1,500 | 27,500 | 63,000 | 80,000 | 91,543 | 80,000 | 30,000 | - | - | - | - | - | - | |
291 |
1,500 | 27,500 | 63,000 | 80,000 | 91,543 | 80,000 | 30,000 | - | - | - | - | - | - | |
40/41 |
179,911 | 82,038 | 142,338 | 88,938 | 65,112 | 89,882 | 110,583 | 46,692 | 239,909 | 71,331 | 29,258 | 70,060 | 136,545 | |
40 |
166,758 | 72,349 | 135,471 | 80,238 | 42,816 | 74,632 | 90,940 | 36,750 | 199,603 | 49,416 | 18,783 | 58,182 | 136,545 | |
41 |
13,153 | 9,689 | 6,868 | 8,700 | 22,296 | 15,250 | 19,643 | 9,942 | 40,306 | 21,916 | 10,475 | 11,878 | - | |
54/58 |
84,205 | 100,832 | 124,621 | 167,857 | 246,189 | 189,980 | 235,583 | 141,061 | 91,984 | 150,286 | 169,777 | 59,874 | 16,003 | |
490/1 |
2,818 | 1,688 | 2,627 | 6,492 | 1,672 | 1,506 | 2,960 | 296 | 624 | 1,131 | 1,711 | 1,310 | 1,072 | |
| Balance sheet: equity and liabilities | ||||||||||||||
10/49 |
596,514 | 582,961 | 730,393 | 784,150 | 831,195 | 831,889 | 634,060 | 424,422 | 581,486 | 428,660 | 222,793 | 144,856 | 162,491 | |
10/15 |
178,693 | 366,763 | 400,148 | 433,482 | 415,464 | 388,895 | 245,006 | 154,222 | 149,333 | 104,388 | 143,662 | 105,019 | 76,198 | |
10/11 |
12,400 | 12,400 | 12,400 | 12,400 | 12,400 | - | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
100 |
- | - | - | - | - | - | 18,550 | 18,550 | 18,550 | 18,550 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 6,150 | 6,150 | 6,150 | 6,150 | 6,200 | 6,200 | 6,200 | |
11 |
- | 12,400 | - | - | - | 12,400 | - | - | - | - | - | - | - | |
1100/10 |
- | - | - | - | - | 12,400 | - | - | - | - | - | - | - | |
1109/19 |
- | 12,400 | - | - | - | - | - | - | - | - | - | - | - | |
13 |
166,293 | 354,363 | 387,748 | 421,082 | 403,064 | 376,495 | 232,606 | 141,822 | 136,933 | 91,988 | 131,262 | 92,619 | 63,798 | |
130/1 |
- | - | - | - | - | 1,860 | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1319 |
- | - | - | - | - | 1,860 | - | - | - | - | - | - | - | |
132 |
- | - | - | - | - | 37,500 | 37,500 | 37,500 | 37,500 | 37,500 | 37,500 | 18,750 | 18,750 | |
133 |
166,293 | 354,363 | 387,748 | 421,082 | 403,064 | 337,135 | 193,246 | 102,462 | 97,573 | 52,628 | 91,902 | 72,009 | 43,188 | |
17/49 |
417,821 | 216,198 | 330,245 | 350,668 | 415,731 | 442,994 | 389,054 | 270,200 | 432,154 | 324,272 | 79,131 | 39,837 | 86,294 | |
17 |
52,367 | 90,868 | 137,049 | 182,524 | 227,311 | 230,782 | 124,134 | 143,599 | 162,729 | 181,531 | - | 3,149 | 6,686 | |
170/4 |
52,367 | 90,868 | 137,049 | 182,524 | 227,311 | 230,782 | 124,134 | 143,599 | 162,729 | 181,531 | - | 3,149 | 6,686 | |
42/48 |
365,454 | 125,330 | 193,196 | 168,144 | 188,421 | 212,212 | 264,920 | 126,601 | 269,425 | 141,759 | 78,140 | 35,772 | 79,128 | |
42 |
38,502 | 46,180 | 45,475 | 44,787 | 44,105 | 34,000 | 19,465 | 19,130 | 18,802 | 18,469 | - | 3,537 | 3,368 | |
44 |
86,102 | 43,934 | 22,363 | 35,076 | 57,437 | 108,780 | 82,707 | 32,418 | 151,560 | 48,265 | 5,531 | 8,913 | 27,970 | |
440/4 |
86,102 | 43,934 | 22,363 | 35,076 | 57,437 | 108,780 | 82,707 | 32,418 | 151,560 | 48,265 | 5,531 | 8,913 | 27,970 | |
46 |
40,000 | - | 78,053 | 65,000 | 55,000 | 43,523 | 129,562 | 36,500 | 87,000 | 50,485 | 47,500 | 2,500 | - | |
45 |
39,406 | 34,113 | 41,778 | 21,008 | 27,985 | 20,537 | 21,469 | 27,904 | 12,063 | 18,890 | 13,029 | 14,897 | 23,180 | |
450/3 |
35,016 | 31,834 | 39,331 | 18,988 | 24,210 | 18,496 | 19,639 | 27,904 | 12,063 | 18,890 | 13,029 | 14,897 | 23,180 | |
454/9 |
4,390 | 2,279 | 2,447 | 2,019 | 3,775 | 2,041 | 1,830 | - | - | - | - | - | - | |
47/48 |
161,444 | 1,103 | 5,527 | 2,273 | 3,894 | 5,373 | 11,717 | 10,649 | - | 5,650 | 12,080 | 5,925 | 24,610 | |
492/3 |
- | - | - | - | - | - | - | - | - | 982 | 990 | 916 | 479 | |
| Income statement | ||||||||||||||
9900 |
189,915 | 203,905 | 218,099 | 186,113 | 177,947 | 293,994 | 198,666 | 76,213 | 93,160 | 91,962 | 67,311 | 59,709 | 87,848 | |
62 |
65,740 | 71,461 | 66,362 | 77,866 | 79,300 | 59,266 | 41,836 | - | - | - | - | - | - | |
630 |
42,823 | 42,656 | 43,056 | 45,865 | 45,317 | 38,833 | 28,222 | 19,189 | 22,558 | 41,248 | 15,165 | 9,384 | 3,733 | |
631/4 |
- | - | - | - | - | -11,660 | - | 984 | - | - | 3,113 | 8,547 | - | |
640/8 |
4,127 | 25,656 | 61,386 | 2,026 | 1,978 | 12,409 | 1,653 | 1,508 | 1,319 | 2,358 | 648 | 1,250 | 1,071 | |
9901 |
77,225 | 64,132 | 47,295 | 60,357 | 51,351 | 195,145 | 126,955 | 54,532 | 69,283 | 48,356 | 48,385 | 40,527 | 83,044 | |
75/76B |
2,903 | 4,422 | 3,580 | 3,512 | 4,849 | 6,250 | 6,047 | 7,872 | 7,259 | 6,820 | 6,355 | 2,804 | 1,048 | |
75 |
2,903 | 4,422 | 3,580 | 3,512 | 4,849 | 6,250 | 6,047 | 7,872 | 7,259 | 6,820 | 6,355 | 2,804 | 1,048 | |
65/66B |
2,324 | 3,017 | 3,418 | 4,284 | 5,088 | 5,449 | 5,580 | 4,050 | 4,953 | 3,084 | 6,058 | 2,628 | 1,155 | |
65 |
2,324 | 3,017 | 3,418 | 4,284 | 5,088 | 5,449 | 5,580 | 4,050 | 4,953 | 3,084 | 6,058 | 2,628 | 1,155 | |
9903 |
77,803 | 65,537 | 47,456 | 59,585 | 51,113 | 195,946 | 127,422 | 58,353 | 71,589 | 52,092 | 48,682 | 40,702 | 82,937 | |
67/77 |
31,200 | 65,212 | 35,845 | 15,900 | 24,544 | 50,457 | 36,639 | 24,643 | 26,644 | 28,285 | 10,040 | 11,881 | 19,139 | |
9904 |
46,603 | 325 | 11,612 | 43,684 | 26,569 | 145,489 | 90,784 | 33,711 | 44,945 | 23,807 | 38,643 | 28,821 | 63,798 | |
789 |
- | - | - | - | 37,500 | - | - | - | - | - | - | - | - | |
689 |
- | - | - | - | - | - | - | - | - | - | 18,750 | - | 18,750 | |
9905 |
46,603 | 325 | 11,612 | 43,684 | 64,069 | 145,489 | 90,784 | 33,711 | 44,945 | 23,807 | 19,893 | 28,821 | 45,048 | |
| Appropriation of the result | ||||||||||||||
9906 |
46,603 | 325 | 11,612 | 43,684 | 64,069 | 145,489 | 90,784 | 33,711 | 44,945 | 23,807 | 19,893 | 28,821 | 45,048 | |
791/2 |
234,673 | 33,711 | 44,945 | 25,667 | - | - | - | 28,821 | - | 63,081 | - | - | - | |
691/2 |
46,603 | 325 | 11,612 | 43,684 | 64,069 | 143,889 | 90,784 | 33,711 | 44,945 | 23,807 | 19,893 | 28,821 | 45,048 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
6921 |
46,603 | 325 | 11,612 | 43,684 | 64,069 | 143,889 | 90,784 | 33,711 | 44,945 | 23,807 | 19,893 | 28,821 | 43,188 | |
694/7 |
234,673 | 33,711 | 44,945 | 25,667 | - | 1,600 | - | 28,821 | - | 63,081 | - | - | - | |
694 |
234,673 | 33,711 | 44,945 | 25,667 | - | 1,600 | - | 28,821 | - | 63,081 | - | - | - | |
| Social balance sheet | ||||||||||||||
9087 |
1 | 1 | 1 | 1.3 | 1.3 | 1 | 0.8 | - | - | - | - | - | - | |
Hours worked1013 |
1,721 | 1,924 | 1,916 | 2,509 | 2,464 | 1,910 | 1,448 | - | - | - | - | - | - | |
| Document | ||||||||||||||
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 04-01-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 04-01-2026 | 2026-00003299 | |
| 30-06-2024 | micro format | 21-12-2024 | 2025-00628886 | |
| 30-06-2023 | abbreviated format | 18-12-2023 | 2023-00529859 | |
| 30-06-2022 | abbreviated format | 19-12-2022 | 2022-20539854 | |
| 30-06-2021 | abbreviated format | 20-12-2021 | 2021-80800087 | |
| 30-06-2020 | abbreviated format | 31-12-2020 | 2020-77700246 | |
| 30-06-2019 | micro format | 21-01-2020 | 2020-01700571 | |
| 30-06-2018 | micro format | 07-01-2019 | 2019-00500509 | |
| 30-06-2017 | micro format | 21-09-2017 | 2017-61900063 | |
| 30-06-2016 | abbreviated format | 20-12-2016 | 2016-70700536 | |
| 30-06-2015 | abbreviated format | 19-12-2015 | 2015-70200596 | |
| 30-06-2014 | abbreviated format | 22-12-2014 | 2014-70100584 | |
| 30-06-2013 | abbreviated format | 14-01-2014 | 2014-00800590 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 120,048 | 106,788 | 90,351 | 106,221 | 96,669 | 233,978 | 155,177 | 73,721 | 91,841 | 89,605 | 63,550 | 49,911 | 86,777 | ||
| 89,426 | 42,981 | 54,668 | 89,549 | 71,886 | 184,322 | 119,006 | 52,900 | 67,503 | 65,055 | 53,808 | 38,205 | 67,530 | ||
| 0 | 15,752 | 0 | 60,049 | 1,475 | 254,419 | 46,784 | 6,594 | 65,616 | 225,113 | 23,600 | 14,123 | 11,677 | ||
| -16,627 | -23,789 | -43,236 | -78,333 | 56,209 | -45,603 | 94,521 | 49,077 | -58,301 | -19,491 | 109,903 | 43,871 | - | ||
| -97,020 | 86,728 | 139,390 | 175,142 | 216,096 | 149,156 | 114,205 | 61,448 | 63,093 | 80,989 | 122,605 | 95,472 | 74,491 | ||
| 30.0% | 62.9% | 54.8% | 55.3% | 50.0% | 46.7% | 38.6% | 36.3% | 25.7% | 24.4% | 64.5% | 72.5% | 46.9% | ||
| 0.73 | 1.69 | 1.72 | 2.04 | 2.15 | 1.70 | 1.43 | 1.49 | 1.23 | 1.57 | 2.57 | 3.67 | 1.94 | ||
| 2.34 | 0.59 | 0.83 | 0.81 | 1.00 | 1.14 | 1.59 | 1.75 | 2.89 | 3.11 | 0.55 | 0.38 | 1.13 | ||
| 26.1% | 0.1% | 2.9% | 10.1% | 6.4% | 37.4% | 37.1% | 21.9% | 30.1% | 22.8% | 26.9% | 27.4% | 83.7% | ||
| 7.8% | 0.1% | 1.6% | 5.6% | 3.2% | 17.5% | 14.3% | 7.9% | 7.7% | 5.6% | 17.3% | 19.9% | 39.3% | ||
| 51.65 | 35.40 | 26.43 | 24.80 | - | - | - | - | - | - | - | - | - |
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 | 30-06-2025 | 30-06-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 |
| full-time | 1 | 1 | 1 | 1 |
| in full-time equivalents | 1 | 1 | 1 | 1 |
| 1 | 1 | 1 | 1.3 | |
| On a permanent contract | 1 | 1 | 1 | 1 |
| Joined | - | - | - | 0 |
| Left | - | - | - | 1 |
| Training hours | 2 | - | 10 | 10 |
Source: social balance sheet in the 2022 to 2025 annual accounts
| Item | 30-06-2025 | 30-06-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Mortgages, amount registered | €25,000 | €25,000 | - | - |
| Carrying value of the mortgaged assets | €310,072 | €337,204 | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 30-06-2025 | 30-06-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Tangible fixed assets | - | €15,752 | - | €60,049 |
| €42,823 | €42,656 | €43,056 | €45,865 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 20% higher than in 2024 and the highest since 2020. It is the second rise in a row, after the fall in 2023.
Debt's share of the balance-sheet total rises from 37.1% to 70.0%. Equity is lower and debt is higher.
DEVOLEC has no parent and no holdings in its annual accounts. is the only director. DEVOLEC shares no director with another company.
| Devoldere, Cleo (sole trader)
establishment since 02-10-2023 |
founded in 2023 0805.910.939 |
Deadline for the 2026 accounts: 31-01-2027
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 |
|---|---|---|
| Vlietestraat 80 registered office 8531 Harelbeke | 21-11-2012 | 2.214.162.184 |
| 09-04-2019 | Granted | Nieuwbouw van bijgebouwen en niet overdekte lage constructie submitted 13-03-2019 · project 2019025507 | Harelbeke |
Source: Omgevingsloket Vlaanderen.
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 34004A0105/00D000 | 742 m² | 1 · 116 m² | 7.5 m · 2 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0500.725.579
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