Turnover
≈ €1.3m estimated
The accounts state no turnover.
Devray
Overview
Lifetime
2 annual accounts with figures on one time axispeak €595,788 (2024)
€567,273▼ 4.8%
peak €39,620 (2024)
€28,516▼ 28.0%
peak €585,306 (2025)
€585,306▲ 5.1%
€308,847▼ 6.6%
peak 8.4 FTE (2025)
8.4 FTE▲ 18.3%
Board1 name since 2024
1 directorINVESTEEL
Owners
50%INVESTEEL
Documentsfilings and deeds
21-05-202671 days before the deadline
2025financial year
Result from €39,620 to €28,516Staff from 7.1 FTE to 8.4 FTECash from €196,831 to €363,126
Key points
from the 2025 annual accountsStaff
8 employees on 31-12-2025
In 2025, 8 people joined and 9 left.
Restructuring
2024
Branch taken over from Devray Walther et enfants. Takeover on 17-07-2024.
Checked score
87
Excellent
Financially stronger than 63% of micro companies in fabricated metal products (NACE 25)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.5% across 3,709 companies (NACE 25, micro).
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
01-2025: 1.8%
02-2025: 1.8%● unchanged vs 01-2025
03-2025: 1.9%▲ +0.1 percentage points vs 02-2025
04-2025: 2.2%▲ +0.3 percentage points vs 03-2025
05-2025: 2.3%▲ +0.1 percentage points vs 04-2025
06-2025: 2.6%▲ +0.3 percentage points vs 05-2025highest value
07-2025: 0.4%▼ -2.2 percentage points vs 06-2025
08-2025: 0.4%● unchanged vs 07-2025
09-2025: 0.4%● unchanged vs 08-2025
10-2025: 0.4%● unchanged vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.4%● unchanged vs 12-2025
02-2026: 0.4%● unchanged vs 01-2026
03-2026: 0.4%● unchanged vs 02-2026
04-2026: 0.4%● unchanged vs 03-2026
05-2026: 0.4%● unchanged vs 04-2026
06-2026: 0.3%▼ -0.1 percentage points vs 05-2026
07-2026: 0.3%● unchanged vs 06-2026
08-2026: 0.3%● unchanged vs 07-2026
09-2026: 0.3%● unchanged vs 08-2026lowest value
10-2026: 0.3%● unchanged vs 09-2026lowest value
11-2026: 0.3%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Founded in 2023
lowers risk
Liquidity: current ratio 2.68, cash €363,126
Equity €585,306 (65.5% of total assets)
Figures for financial year 2025 (filed on 27-05-2026)
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 25, micro). It does better than 70% of them on solvency, 88% on liquidity, 45% on profitability and 50% on growth.
The bankruptcy probability was computed on 10-11-2026 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, 2,546 companies had the same profile as Devray has now. Each dot stands for 7 companies, two years later.
94.3%
were still trading
3.2%
stopped another way
2.3%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Devray itself is lower: 0.3% within 12 months. It rests on far more data about Devray than the profile alone.
Test of the method
The method was tested on the 497,448 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 2,546 companies, not a prediction for Devray. 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
Credit of up to €50,000 on 30-day terms, only on tighter conditions: young company (under 3 years) without a track record
Liquidity is ample, with a current ratio of 2.68 (2.75 in 2024), above the usual 1.5. Short-term debt is 25.6% and cash 40.6% of total assets. 34.5% of the assets are financed with debt and provisions.
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
Five signals.
lowers riskraises riskneutral
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 21-05-2026, 71 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
71 days early
2024
44 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 58 days before the deadline. In the sector (NACE 25), the median for financial year 2024 was 7 days before the deadline, and 35% 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
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:1003934657
Demerger: Devray Walther et enfants splits off to DEVRAY
Founding capital of €517,170.19, 1,000 shares · Appointment: INVESTEEL (director) · Permanent representative: DEVRAY, Gauthier Walther Bernard · Gazette deed
Incorporation
1,000 shares · published on 08-01-2024 · Gazette deed
First establishment
Quai Donat Casterman 65, Tournai
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Devray Tournai | €0.9m | €567,273 | 65.5% | 8.4 |
| A-STEEL Bocholt | €0.9m | €542,335 | 5.2% | 6.9 |
| APEX SERVICES Ichtegem | €0.7m | €590,408 | 17.6% | 6.8 |
| GS Masset Dépannages Grâce-Hollogne | €1.4m | €555,390 | 21.8% | 7.3 |
| A2C PRODUCT Seraing | €0.6m | €422,253 | 44.9% | 7.5 |
| TAGL METAL CONSTRUCT Mons | €0.3m | €583,377 | 46.9% | 10.5 |
| VYTECH ZELE Zele | €0.8m | €494,665 | 41.2% | 3.6 |
These companies have the same main activity as Devray: manufacture of metal structures and parts of structures (NACE 25110). They are comparable in size and age: total assets between €301,000 and €1.4m, founded between 2022 and 2024.
Official details
Source: KBO- Status
- Active since 27-12-2023Normal situation
- Activity
- Manufacture of metal structures and parts of structuresNACE 25110and 5 others
- Joint committees
- 111Metal, mechanical and electrical engineering
- 209White-collar workers in metal manufacturing · annual accounts 2025
- Establishment unit
- 2.354.686.4807500 Tournai, since 19-12-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 23-09-2025
Annual accounts 2025
- €567,273▼ 4.8%
- €28,516▼ 28.0%
- €585,306▲ 5.1%
- €894,154▲ 0.8%
- Employeeson 31-12-2025
- 8▼ 11.1%
- Filing
- Filed on 21-05-2026, 71 days before the end of the filing period
Insights on Devray
Devray has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €585,306 and a net result of €28,516.
Its solvency ranks better than 74% of 834 sector peers (NACE 25, 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
full format, filed on 21-05-2026, 71 days before the deadline€567,273
▼ 4.8%
€41,238
▼ 41.1%
€28,516
▼ 28.0%
€384,902
▲ 12.6%
65.5%
▲ 2.7 percentage points
2.68
▼ 0.07
The turnover shown is an estimate from the gross margin.
Turnover ≈ €1.3m. Estimated: probably between €800,000 and €2.3m.
Balance sheet
balance sheet total €894,154 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
65.5%
Higher than 74% of 834 companies in 2025.
2.68
Higher than 72% of 826 companies in 2025.
3.2%
Higher than 49% of 831 companies in 2025.
Devray
Middle half of the sector
80% of the sector
Full accounts in fabricated metal products (NACE 25)
Net result: middle half · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half · Staff: middle half
Staff
€54,362
Staff costs divided by the average number of full-time equivalents.
-1 person
people who joined
people who left
In 2025, 8 people joined and 9 left.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| Balance sheet: assets | |||
20/58 |
894,154 | 887,423 | |
21/28 |
280,698 | 350,095 | |
22/27 |
275,493 | 344,890 | |
23 |
275,493 | 344,890 | |
28 |
5,205 | 5,205 | |
29/58 |
613,456 | 537,328 | |
3 |
45,109 | 40,738 | |
30/36 |
45,109 | 40,738 | |
40/41 |
202,317 | 296,068 | |
40 |
177,594 | 288,728 | |
41 |
24,723 | 7,340 | |
54/58 |
363,126 | 196,831 | |
490/1 |
2,904 | 3,691 | |
| Balance sheet: equity and liabilities | |||
10/49 |
894,154 | 887,423 | |
10/15 |
585,306 | 556,790 | |
10/11 |
19,403 | 19,403 | |
13 |
357,786 | 357,786 | |
133 |
357,786 | 357,786 | |
14 |
208,117 | 179,601 | |
17/49 |
308,847 | 330,633 | |
17 |
80,293 | 135,271 | |
170/4 |
80,293 | 135,271 | |
42/48 |
228,554 | 195,362 | |
42 |
54,978 | 56,754 | |
44 |
136,725 | 112,911 | |
440/4 |
136,725 | 112,911 | |
45 |
36,786 | 25,632 | |
450/3 |
263 | 263 | |
454/9 |
36,523 | 25,369 | |
47/48 |
66 | 66 | |
| Income statement | |||
76A |
3,227 | 61 | |
9900 |
567,273 | 595,788 | |
62 |
456,637 | 435,254 | |
630 |
69,398 | 89,619 | |
640/8 |
- | 327 | |
66A |
- | 563 | |
9901 |
41,238 | 70,025 | |
75/76B |
2,154 | 974 | |
75 |
2,154 | 974 | |
65/66B |
4,204 | 11,188 | |
65 |
4,204 | 11,188 | |
9903 |
39,187 | 59,810 | |
67/77 |
10,671 | 20,190 | |
9904 |
28,516 | 39,620 | |
9905 |
28,516 | 39,620 | |
| Appropriation of the result | |||
9906 |
208,117 | 179,601 | |
14P |
179,601 | 139,981 | |
| Social balance sheet | |||
9087 |
8.4 | 7.1 | |
Hours worked1013 |
12,826 | 8,707 | |
| Document | |||
The notes to these accounts have 8 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 21-05-2026.
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 |
|---|---|---|---|
| 110,636 | 159,644 | ||
| 97,914 | 129,239 | ||
| 0 | 1.6m | ||
| 166,295 | - | ||
| 384,902 | 341,966 | ||
| 65.5% | 62.7% | ||
| 2.68 | 2.75 | ||
| 2.49 | 2.54 | ||
| 0.53 | 0.59 | ||
| 4.9% | 7.1% | ||
| 3.2% | 4.5% | ||
| 26.31 | 14.27 |
EBIT margin: not included in this filing.
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.
Social balance sheet
| Item | 31-12-2025 | 31-12-2024 |
|---|---|---|
| Employees at the balance-sheet date | 8 | 9 |
| full-time | 7 | 8 |
| part-time | 1 | 1 |
| in full-time equivalents | 7.8 | 8.8 |
| 8.4 | 7.1 | |
| On a permanent contract | 7 | 8 |
| Joined | 8 | 15 |
| Left | 9 | 6 |
Source: social balance sheet in the 2024 to 2025 annual accounts
Investments
fixed assets acquired| Item | 2025 | 2024 |
|---|---|---|
| Tangible fixed assets | - | €1.6m |
| Financial fixed assets | - | €5,205 |
| €69,398 | €89,619 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Insights on Devray
The operating result for 2025 is 41% lower than in 2024.
Debt's share of the balance-sheet total falls from 37.3% to 34.5%. Equity is higher and debt is lower.
Board & ownership
Board
1 director, no change since 2024INVESTEEL BV
Director (not named in the articles), permanent representative Gauthier DEVRAY
appointed by deed of 17-07-2024
term without a fixed end
listed in the 2025 annual accounts, filed on 21-05-2026
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- “Article 11.- Pouvoirs de l'organe d'administration S'il n'y a qu'un seul administrateur, la totalité des pouvoirs d'administration lui est…”deed of 08-01-2024
Permanent representatives 1
Mandates through the years
1 name, the dashed line is todayINVESTEEL
Director (not named in the articles)
Director (not named in the articles)
Board
Mandates as a list
- INVESTEEL
- Director (not named in the articles), appointed by deed of 17-07-2024, still in office
Control
Shareholder
Equity €526,966
Profit €61,637 in 2025 (profit €29,139 in 2024)
Checked score 96
Source: accounts INVESTEEL 2025
50%
This company
Devray
Equity €585,306
Profit €28,516 in 2025
Capital
- Contribution
- €19,403.02
- Shares
- 1,000
- Contribution per share
- €19.40
- Equity per share
- €585 in 2025
- Source
- 2025 annual accounts
Owners through the years
as the annual accounts name themOwners as a list
- INVESTEEL
Source: lists of holdings in the owners' accounts
Articles of association
deed of 17-07-2024 (in French)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Last Monday of April at 11:00
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one.
- No statutory auditor
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Dissolution pour quelque cause et moment, peut désigner un ou plusieurs liquidateurs et déterminer pouvoirs et émoluments”
Capital transactions
Capital over time
- 17-07-2024 Incorporation · €517,170.19 · 1,000 shares
- 17-07-2024 Incorporation · €517,170.19
- 08-01-2024 Incorporation · 1,000 shares
Network & group
No group
Devray has no parent and no holdings in its annual accounts. INVESTEEL is the only director.
Acquisitions and mergers
1 transactionReceived in a demerger part of:Devray Walther et enfants
Connections & network
1 current directorThe network starts from the directors of Devray. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Timeline
6 events since 2023Board
Capital
Filings
Establishments
2023202420252026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed PDFfull format · 71 days before the deadline
2025
Registered in the Peppol Directory Reachable for e-invoices through 0208:1003934657
Annual accounts 2024 filed PDFfull format · 44 days before the deadline
2024
Demerger: Devray Walther et enfants splits off to DEVRAYFounding capital of €517,170.19, 1,000 shares · Appointment: INVESTEEL (director) · Permanent representative: DEVRAY, Gauthier Walther Bernard9 points ▸
- Incorporation, 19-12-2023
- Founding capital, €517,170.19, 1,000 shares
- Power of attorney, DEVRAY, Gauthier Walther Bernard, mentioned twice in the deed
- Accounting effect, 30-09-2023, mentioned 3 times in the deed
- Founding capital, €517,170.19
- Registered office clause, Quai Donat Casterman 65A, 7500 TOURNAI
- Board rule, 1
- Director appointment, INVESTEEL (director (not named in the articles))
- Permanent representative, DEVRAY, Gauthier Walther Bernard
- The deed holds 19 more points.
2023
Incorporation1,000 shares · published on 08-01-20241 point ▸
- 1,000 shares
- The deed holds 2 more points.
First establishment Quai Donat Casterman 65, Tournai
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Identity
- Enterprise number
- 1003.934.657
- VAT number
- BE 1003.934.657
- Peppol ID
- 0208:1003934657
- Other Peppol ID
- 9925:BE1003934657
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 27-12-2023
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Last Monday of April at 11:00deed of 17-07-2024 (in French)
- Peppol
- Reachable since 23-09-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- Devray in French
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 17-07-2024 (in French)
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Région Wallonne”deed of 17-07-2024 (in French)
Activities
NACEBEL 2025VAT activities
25110
Manufacture of metal structures and parts of structures main activity
Social security (RSZ) activities
25530
Machining of metals main activity
Joint committees annual accounts 2025
JC 111
Metal, mechanical and electrical engineering
JC 209
White-collar workers in metal manufacturing
Codes under NACEBEL 2008
VAT activities
25110
Manufacture of metal structures and parts of structures main activity
25120
Manufacture of fabricated metal products, except machinery and equipment
25999
Manufacture of fabricated metal products, except machinery and equipment
28130
Manufacture of machinery and equipment not elsewhere classified
33110
Repair, maintenance and installation of machinery and equipment
Social security (RSZ) activities
25620
Manufacture of fabricated metal products, except machinery and equipment main activity
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “De matériel mécanique, en métal, bois, plastique ou autres matières; De tout ce qui se rattache à la construction métallique; D'installation…”deed of 17-07-2024 (in French)
3 activities
- De matériel mécanique, en métal, bois, plastique ou autres matières
- De tout ce qui se rattache à la construction métallique
- D'installation électrique, hydraulique et pneumatique
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Quai Donat Casterman 65 registered office 7500 Tournai | 19-12-2023 | 2.354.686.480 |
Buildings and parcels at the address
- Ground area
- 3,537 m²
- Buildings
- 2,342 m²
- Volume, LiDAR
- 20,852 m³
- Tallest building
- 14.0 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 57463L0145/00K002 | 3,537 m² | 1 · 2,342 m² | 14.0 m · 3 |