DEVOS - DE BUCK
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 30-07-2026 at the NBB all 35 filings
Turnover
≈ €340,000
Estimated: probably between €210,000 and €640,000
EBIT margin
Not included in this filing
Net result
€75,760▼ 31.3%
2024 · €110,336
Working capital
-€41,898
2024 · €61,299
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€98,890
▼ 36.0%
2025
20182025
Net result
€75,760
▼ 31.3%
2025
20182025
Equity
€325,072
▼ 28.0%
2025
20182025
Total assets
€547,922
▼ 19.0%
2025
20182025
Debt
€195,350
▼ 1.0%
2025
20182025
Working capital
-€41,898
2025
20182025
Staff (FTE)
0
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€63,457-€4,837▼ 92.4%€103,395▲ 21×€82,641▼ 20.1%€67,428▼ 18.4%€77,232▲ 14.5%€154,557▲ 100%€98,890▼ 36.0%
Net result€56,621--€1,054€72,420€57,268▼ 20.9%€47,141▼ 17.7%€55,117▲ 16.9%€110,336▲ 100%€75,760▼ 31.3%
Equity€110,084-€109,030▼ 1.0%€181,450▲ 66.4%€238,718▲ 31.6%€285,859▲ 19.7%€340,976▲ 19.3%€451,312▲ 32.4%€325,072▼ 28.0%
Total assets€995,289-€911,195▼ 8.4%€891,297▼ 2.2%€729,330▼ 18.2%€688,639▼ 5.6%€731,285▲ 6.2%€676,220▼ 7.5%€547,922▼ 19.0%
Debt€783,808-€640,768▼ 18.2%€602,271▼ 6.0%€443,035▼ 26.4%€355,203▼ 19.8%€342,732▼ 3.5%€197,408▼ 42.4%€195,350▼ 1.0%
Working capital-€238,671--€174,588▲ 26.8%-€153,318▲ 12.2%-€154,390▼ 0.7%-€107,629▲ 30.3%€17,416€61,299▲ 252%-€41,898
Staff (FTE)0000
The operating result for 2025 is 36% lower than in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €547,922
Fixed assets
€407,469 ▼ 5.1%
Current assets
€140,452 ▼ 43.1%
Equity and liabilities €547,922
Equity
€325,072 ▼ 28.0%
Provisions
€27,500 =
Debt
€195,350 ▼ 1.0%
Debt's share of the balance-sheet total rises from 29.2% to 35.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€120,935▼
2024 · €176,601
Cash flow
€97,804▼
2024 · €132,380
Current ratio
0.77▼
2024 · 1.33
Debt to equity
0.60▲
2024 · 0.44
ROE
23.3%▼
2024 · 24.4%
ROA
13.8%▼
2024 · 16.3%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€182,350▼
2024 · €185,408
Income taxes
€23,842▼
2024 · €43,238
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | - | €45,369 | - | - | - |
| Mortgages, amount registered | €933,947 | €933,947 | €933,947 | - | - |
| Carrying value of the mortgaged assets | €495,646 | €473,602 | €451,558 | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €22,044 | €22,044 | €22,044 | €22,044 | €22,044 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €17,160 | €4,597 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22,044 | €22,044 | €22,044 | €22,044 | €22,044 | €22,044 | €22,044 | €22,044 | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | €132 | €0 | ▼ 100% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | -€60,000 | €0 | - | -€20,076 | €0 | - |
| Other operating charges640/8 | - | - | - | €10,683 | €10,001 | €14,788 | €12,584 | €13,985 | ▲ 11.1% |
| Non-recurring operating charges66A | - | - | - | €60,000 | €0 | - | - | - | - |
| Gross operating margin9900 | €94,600 | €96,218 | €97,134 | €115,368 | €99,473 | €114,064 | €169,241 | €134,920 | ▼ 20.3% |
| Operating profit (loss)9901 | €63,457 | €4,837 | €103,395 | €82,641 | €67,428 | €77,232 | €154,557 | €98,890 | ▼ 36.0% |
| Financial income75/76B | - | - | - | - | - | - | - | €926 | - |
| Recurring financial income75 | - | - | - | - | - | - | - | €926 | - |
| Financial charges65/66B | - | - | - | €4,526 | €3,126 | €2,051 | €983 | €215 | ▼ 78.2% |
| Recurring financial charges65 | €6,837 | €5,891 | €4,996 | €4,526 | €3,126 | €2,051 | €983 | €215 | ▼ 78.2% |
| Profit (loss) for the period before taxes9903 | €56,621 | -€1,054 | €98,399 | €78,115 | €64,302 | €75,181 | €153,574 | €99,602 | ▼ 35.1% |
| Income taxes67/77 | - | - | €25,979 | €20,847 | €17,160 | €20,064 | €43,238 | €23,842 | ▼ 44.9% |
| Profit (loss) for the period9904 | €56,621 | -€1,054 | €72,420 | €57,268 | €47,141 | €55,117 | €110,336 | €75,760 | ▼ 31.3% |
| Profit (loss) for the period to be appropriated9905 | €56,621 | -€1,054 | €72,420 | €57,268 | €47,141 | €55,117 | €110,336 | €75,760 | ▼ 31.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.0m | €0.9m | €0.9m | €0.7m | €0.7m | €0.7m | €0.7m | €0.5m | ▼ 19.0% |
| Fixed assets21/28 | €0.6m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.4m | €0.4m | ▼ 5.1% |
| Tangible fixed assets22/27 | €0.6m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.4m | €0.4m | ▼ 5.1% |
| Land and buildings22 | - | - | - | €0.5m | €0.5m | €0.5m | €0.4m | €0.4m | ▼ 5.1% |
| Current assets29/58 | €0.4m | €0.4m | €0.4m | €0.2m | €0.2m | €0.3m | €0.2m | €0.1m | ▼ 43.1% |
| Amounts receivable within one year40/41 | €0.4m | €0.4m | €0.4m | €0.2m | €0.2m | €0.2m | €0.2m | €0.03m | ▼ 84.0% |
| Trade receivables40 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Other amounts receivable41 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €132 | ▼ 99.9% |
| Cash at bank and in hand54/58 | €0.006m | €0.01m | €0.01m | €0.009m | €0.001m | €0.09m | €0.05m | €0.1m | ▲ 79.8% |
| Deferred charges and accrued income490/1 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | ▲ 8.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.0m | €0.9m | €0.9m | €0.7m | €0.7m | €0.7m | €0.7m | €0.5m | ▼ 19.0% |
| Equity10/15 | €0.1m | €0.1m | €0.2m | €0.2m | €0.3m | €0.3m | €0.5m | €0.3m | ▼ 28.0% |
| Contributions10/11 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €0.3m | ▼ 71.7% |
| Capital10 | - | - | - | €1.0m | €1.0m | €1.0m | €1.0m | €0.3m | ▼ 71.7% |
| Issued capital100 | - | - | - | €1.0m | €1.0m | €1.0m | €1.0m | €0.3m | ▼ 71.7% |
| Reserves13 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €68 | €68 | = |
| Non-distributable reserves130/1 | - | - | - | €68 | €68 | €68 | €68 | €68 | = |
| Legal reserve130 | - | - | - | €68 | €68 | €68 | €68 | €68 | = |
| Tax-exempt reserves132 | - | - | - | €0.001m | - | - | - | - | - |
| Distributable reserves133 | - | - | - | - | €0.001m | €0.001m | €0 | - | - |
| Profit (loss) carried forward14 | -€0.9m | -€0.9m | -€0.8m | -€0.8m | -€0.7m | -€0.7m | -€0.6m | €0.04m | - |
| Provisions and deferred taxes16 | €0.1m | €0.2m | €0.1m | €0.05m | €0.05m | €0.05m | €0.03m | €0.03m | = |
| Provisions for liabilities and charges160/5 | - | - | - | €0.05m | €0.05m | €0.05m | €0.03m | €0.03m | = |
| Environmental obligations163 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Other liabilities and charges164/5 | - | - | - | €0.02m | €0.02m | €0.02m | €0 | - | - |
| Amounts payable17/49 | €0.8m | €0.6m | €0.6m | €0.4m | €0.4m | €0.3m | €0.2m | €0.2m | ▼ 1.0% |
| Amounts payable after more than one year17 | €0.1m | €0.09m | €0.07m | €0.05m | €0.02m | €0 | - | - | - |
| Financial debts170/4 | - | - | - | €0.05m | €0.02m | €0 | - | - | - |
| Amounts payable within one year42/48 | €0.7m | €0.5m | €0.5m | €0.4m | €0.3m | €0.3m | €0.2m | €0.2m | ▼ 1.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.02m | €0.02m | €0.02m | €0 | - | - |
| Trade debts44 | €0.008m | €0.001m | €0 | - | €0.002m | €0.02m | €0.002m | €100 | ▼ 95.0% |
| Suppliers440/4 | - | - | - | - | €0.002m | €0.02m | €0.002m | €100 | ▼ 95.0% |
| Taxes, remuneration and social security45 | - | - | - | €0.4m | €0.3m | €0.2m | €0.2m | €0.1m | ▼ 27.9% |
| Taxes450/3 | - | - | - | €0.4m | €0.3m | €0.2m | €0.2m | €0.1m | ▼ 27.9% |
| Other amounts payable47/48 | - | - | - | €0 | - | - | - | €0.05m | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.01m | €0.009m | €0.08m | €0.01m | €0.01m | ▲ 8.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €56,621 | -€1,054 | €72,420 | €57,268 | €47,141 | €55,117 | €110,336 | €75,760 | ▼ 31.3% |
| + Depreciation and write-downs630 | €22,044 | €22,044 | €22,044 | €22,044 | €22,044 | €22,044 | €22,044 | €22,044 | = |
| Operating cash flow (approximation) | €78,665 | €20,990 | €94,465 | €79,312 | €69,185 | €77,161 | €132,380 | €97,804 | ▼ 26.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €3,851 | €1,280 | -€1,816 | -€8,044 | €87,087 | -€33,388 | €43,819 | - |
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, 20,136 companies had the same profile as DEVOS - DE BUCK has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
That fits the bankruptcy probability of DEVOS - DE BUCK itself: 0.1% 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 20,136 companies, not a prediction for DEVOS - DE BUCK. 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.
Latest 10 of 35 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 30-07-2026 | 2026-00369623 | |
| 31-12-2024 | abbreviated format | 02-07-2025 | 2025-00226860 | |
| 31-12-2023 | abbreviated format | 01-08-2024 | 2024-00328508 | |
| 31-12-2022 | abbreviated format | 26-07-2023 | 2023-00289306 | |
| 31-12-2021 | micro format | 27-07-2022 | 2022-20269236 | |
| 31-12-2020 | micro format | 26-08-2021 | 2021-58900066 | |
| 31-12-2019 | micro format | 06-11-2020 | 2020-69200041 | |
| 31-12-2018 | micro format | 25-07-2019 | 2019-37800053 | |
| 31-12-2017 | abbreviated format | 02-07-2018 | 2018-26400379 | |
| 31-12-2016 | abbreviated format | 31-08-2017 | 2017-57700438 |