Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
The micro format states no turnover.
In 2025, 7 people joined and 6 left.
The 2020 accounts came latest: 31 days after the end of the period.
Less equity than 94% of companies in retail trade. Sector median €40,976 · 22,967 companies.
Negative equity caps the score at 59.
The dashed line is the sector median: 0.6% across 40,275 companies (NACE 47, micro).
About 5 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 47, micro). It does better than 6% of them on solvency, 52% on liquidity, 75% on profitability and 70% 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 low class on 30-06-2025, 0.8% 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, 2,180 companies had the same profile as DEVTOUR has now. Each dot stands for 6 companies, two years later.
Another 0.7% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of DEVTOUR itself is lower: 0.5% within 12 months. It rests on far more data about DEVTOUR than the profile alone.
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 2,180 companies, not a prediction for DEVTOUR. 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.
Liquidity is insufficient, with a current ratio of 0.54 (0.51 in 2024), below 1. Short-term debt is 186.7% and cash 98.9% of total assets. Equity is negative.
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 10 days after the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| DEVTOUR Estaimpuis | €94,760 | €199,513 | -86.7% | - |
| S.H. BELGIUM La Louvière | €102,689 | €152,603 | 43.3% | - |
| Fashion Republic Retail België Antwerp | €111,864 | €152,241 | -294.8% | - |
| MANIS Schaerbeek | €103,291 | €141,855 | -95.9% | - |
| L & A Fashion Mortsel | €113,151 | €305,797 | 20.9% | - |
| VINTAGE FACTORY Brussels | €125,479 | €150,343 | 50.2% | - |
| Jane-S & CO Lo-Reninge | €122,086 | €304,032 | 25.6% | - |
These companies have the same main activity as DEVTOUR: retail sale of clothing and accessories for women, men, children and babies (general range) (NACE 47716). They are comparable in size and age: total assets between €103,000 and €125,000, founded between 2016 and 2018.
DEVTOUR files the micro format. That format states no turnover. The gross margin rose from €112,477 in 2018 to €199,513 in 2025.
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 ≈ €600,000. Estimated: probably between €420,000 and €1.1m.
Higher than 9% of 22,924 companies in 2025.
Higher than 14% of 22,052 companies in 2025.
Higher than 82% of 22,202 companies in 2025.
Net result: middle half · Equity: bottom quarter · Balance sheet total: middle half · Working capital: bottom quarter
Staff costs divided by the average number of full-time equivalents.
In 2025, 7 people joined and 6 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||
20/58 |
94,760 | 127,932 | 164,778 | 179,743 | 212,715 | 210,877 | 254,298 | 323,437 | |
21/28 |
- | 15,973 | 36,160 | 75,592 | 118,304 | 161,314 | 204,324 | 247,334 | |
21 |
- | - | - | - | 1,942 | 4,060 | 6,178 | 8,296 | |
22/27 |
- | 15,973 | 36,160 | 75,592 | 116,362 | 157,254 | 198,146 | 239,038 | |
22 |
- | - | 36,160 | 75,592 | 115,024 | 154,455 | 193,887 | 233,319 | |
24 |
- | 15,973 | - | - | 1,339 | 2,799 | 4,259 | 5,719 | |
29/58 |
94,760 | 111,959 | 128,618 | 104,151 | 94,411 | 49,563 | 49,974 | 76,103 | |
40/41 |
1,000 | 64 | 2,251 | 4,947 | 4,060 | 16,978 | 3,760 | 32,750 | |
40 |
- | 64 | 7 | 939 | 109 | 10,130 | 87 | 28,000 | |
41 |
1,000 | - | 2,244 | 4,008 | 3,951 | 6,849 | 3,673 | 4,750 | |
54/58 |
93,760 | 111,895 | 126,368 | 99,204 | 90,351 | 32,585 | 46,213 | 43,353 | |
| Balance sheet: equity and liabilities | |||||||||
10/49 |
94,760 | 127,932 | 164,778 | 179,743 | 212,715 | 210,877 | 254,298 | 323,437 | |
10/15 |
-82,148 | -99,020 | -101,061 | -102,975 | -100,996 | -96,461 | -20,776 | 8,051 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | |
14 |
-100,748 | -117,620 | -119,661 | -121,575 | -119,596 | -115,061 | -39,376 | -10,549 | |
17/49 |
176,908 | 226,951 | 265,839 | 282,718 | 313,710 | 307,338 | 275,073 | 315,386 | |
17 |
- | 7,842 | 38,664 | 68,630 | 97,765 | 126,091 | 139,958 | 167,113 | |
170/4 |
- | 7,842 | 38,664 | 68,630 | 97,765 | 126,091 | 139,958 | 167,113 | |
42/48 |
176,908 | 219,109 | 227,176 | 214,088 | 215,946 | 181,247 | 135,116 | 148,273 | |
42 |
7,842 | 30,822 | 29,966 | 29,135 | 28,326 | 27,540 | 27,155 | 26,402 | |
44 |
17,532 | 33,435 | 57,590 | 44,354 | 82,910 | 56,209 | 17,587 | 29,789 | |
440/4 |
17,532 | 33,435 | 57,590 | 44,354 | 82,910 | 56,209 | 17,587 | 29,789 | |
45 |
45,736 | 45,948 | 27,606 | 36,992 | 28,267 | 24,100 | 17,034 | 18,823 | |
450/3 |
36,611 | 36,063 | 18,496 | 28,837 | 9,271 | 10,467 | 8,772 | 10,255 | |
454/9 |
9,125 | 9,885 | 9,110 | 8,154 | 18,996 | 13,633 | 8,262 | 8,568 | |
47/48 |
105,798 | 108,905 | 112,013 | 103,607 | 76,443 | 73,399 | 73,339 | 73,260 | |
| Income statement | |||||||||
9900 |
199,513 | 195,328 | 184,386 | 213,648 | 147,110 | 47,944 | 130,015 | 112,477 | |
62 |
152,593 | 142,308 | 135,282 | 150,769 | 92,239 | 70,359 | 106,057 | 67,964 | |
630 |
- | 36,616 | 39,432 | 42,712 | 43,010 | 43,010 | 43,010 | 46,580 | |
640/8 |
9,750 | 9,389 | 1,209 | 15,324 | 8,162 | 8,129 | 1,133 | 1,309 | |
66A |
15,973 | - | - | - | - | - | - | - | |
9901 |
21,197 | 7,015 | 8,464 | 4,843 | 3,699 | -73,554 | -20,185 | -3,376 | |
75/76B |
1,332 | 0 | 273 | 335 | 123 | 5,238 | - | 1 | |
75 |
1,332 | 0 | 273 | 335 | 123 | 5,238 | - | 1 | |
65/66B |
5,522 | 4,970 | 6,822 | 7,157 | 8,357 | 7,370 | 8,641 | 7,174 | |
65 |
5,522 | 4,970 | 6,822 | 7,157 | 8,357 | 7,370 | 8,641 | 7,174 | |
9903 |
17,007 | 2,045 | 1,914 | -1,980 | -4,534 | -75,686 | -28,826 | -10,549 | |
67/77 |
136 | 3 | - | - | - | - | - | - | |
9904 |
16,871 | 2,041 | 1,914 | -1,980 | -4,534 | -75,686 | -28,826 | -10,549 | |
9905 |
16,871 | 2,041 | 1,914 | -1,980 | -4,534 | -75,686 | -28,826 | -10,549 | |
| Appropriation of the result | |||||||||
9906 |
-100,748 | -117,620 | -119,661 | -121,575 | -119,596 | -115,061 | -39,376 | -10,549 | |
14P |
-117,620 | -119,661 | -121,575 | -119,596 | -115,061 | - | - | - | |
| Social balance sheet | |||||||||
9087 |
5.1 | 3.9 | 4.6 | 3.6 | 3.3 | 3.3 | 3 | 2.2 | |
Hours worked1013 |
5,144 | 5,486 | 5,490 | 5,531 | 4,696 | 3,825 | 5,163 | 3,689 | |
| Document | |||||||||
The notes to these accounts have 6 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 28-08-2026.
2025 annual accounts filed 28 days after the deadline. Filed on 28 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00479809.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 28-08-2026 | 2026-00479809 | |
| 31-12-2024 | micro format | 30-07-2025 | 2025-00345686 | |
| 31-12-2023 | micro format | 27-08-2024 | 2024-00378910 | |
| 31-12-2022 | micro format | 28-07-2023 | 2023-00302621 | |
| 31-12-2021 | micro format | 28-07-2022 | 2022-20236903 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-64300052 | |
| 31-12-2019 | micro format | 21-07-2020 | 2020-32200337 | |
| 31-12-2018 | micro format | 15-07-2019 | 2019-32700115 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| - | 43,631 | 47,895 | 47,555 | 46,710 | -30,544 | 22,825 | 43,204 | ||
| - | 38,657 | 41,346 | 40,732 | 38,476 | -32,675 | 14,184 | 36,031 | ||
| - | 16,429 | 0 | 0 | 0 | 0 | 0 | 293,915 | ||
| -18,135 | -14,473 | 27,164 | 8,853 | 57,766 | -13,629 | 2,860 | - | ||
| -82,148 | -107,151 | -98,557 | -109,937 | -121,535 | -131,684 | -85,142 | -72,170 | ||
| -86.7% | -77.4% | -61.3% | -57.3% | -47.5% | -45.7% | -8.2% | 2.5% | ||
| 0.54 | 0.51 | 0.57 | 0.49 | 0.44 | 0.27 | 0.37 | 0.51 | ||
| - | - | - | - | - | - | - | 39.18 | ||
| - | - | - | - | - | - | - | -131.0% | ||
| 17.8% | 1.6% | 1.2% | -1.1% | -2.1% | -35.9% | -11.3% | -3.3% | ||
| - | 8.78 | 7.02 | 6.64 | 5.59 | - | - | - |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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 | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 6 | 5 | 5 | 5 | 5 |
| full-time | - | - | 1 | 1 | 1 |
| part-time | 6 | 5 | 4 | 4 | 4 |
| in full-time equivalents | 4.2 | 3.6 | 4.2 | 3.9 | 4.6 |
| 3.2 | 3.2 | 3.5 | 3.4 | 3.3 | |
| On a permanent contract | 1 | 2 | 3 | 3 | 2 |
| Joined | 7 | 7 | 11 | 5 | 4 |
| Left | 6 | 10 | 14 | 9 | 6 |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €16,429 | - | - | - |
| - | €36,616 | €39,432 | €42,712 | €43,010 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is over 3 times that of 2024 and the highest since 2018. It is a recovery after the fall in 2024.
Equity is negative. Debt (€176,908) exceeds the balance-sheet total (€94,760).
DEVTOUR has no parent and no holdings in its annual accounts. MATHON Fabien, Bernard, Yves is the only director.
The connected companies are in the list below.
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
On 14 December 2017, DEVTOUR was incorporated.1 MATHON Fabien, Bernard, Yves is manager of the company, appointed by deed of 29-12-2017.2 Total assets went from €323,437 in 2018 to €94,760 in 2025 and headcount from 2.2 to 5.1 full-time equivalents.3
| Establishment | Since | Unit number |
|---|---|---|
| Rue Reine Astrid 193 registered office 7730 Estaimpuis | ||
| DEVTOUR SPRL Boulevard Walter de Marvis 22, 7500 Tournai | 10-04-2018 | 2.272.113.647 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 57462B0160/00Y003 | 6.2 ha | 1 · 3.8 ha | 15.8 m · 3 |
| 57058A0032/00B000 | 5,511 m² | 1 · 213 m² | 8.2 m · 2 |
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