DEVWARE
ActiveSummary
The computed 12-month bankruptcy probability of DEVWARE is 1.5% (moderate). The 2025 annual accounts show equity of €103,374 and a net result of €31,167. Equity remains stable across the filed fiscal years (±0.5% per year). Its solvency ranks better than 20% of 28806 sector peers (fiscal year 2025). The company has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability75▼-18
Solvency43▼-24
Growth78=
Track record100
Bankruptcy probability, 12 months
1.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity tight (current ratio 1.07 against 1.57 in 2024; short-term debt: 30.6% and cash: 4.3% of total assets), and 82.3% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
17.7%
Return on assets
5.3%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 28806 sector peers (2025).
NBB · sector comparisonPosition among 28806 sector peers
Solvency
better than 20%
← weakest
strongest →
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 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
41 d early
2023
37 d early
2022
28 d early
2021
51 d early
2020
4 d late
2019
20 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 19 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 25 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€103,374▼ 3.5%
2024 · €107,137
Total assets
€584,135▲ 130%
2024 · €254,139
Net result
€31,167▼ 37.3%
2024 · €49,709
Working capital
€13,394▼ 44.6%
2024 · €24,176
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€19,819▼ 3.3%€18,706▼ 5.6%€23,035▲ 23.1%€73,779▲ 220%€47,977▼ 35.0%
Net result€12,507within the sector's middle half▼ 4.3%€9,356within the sector's middle half▼ 25.2%€12,338within the sector's middle half▲ 31.9%€49,709above the sector's middle half▲ 303%€31,167above the sector's middle half▼ 37.3%
Equity€98,356within the sector's middle half▼ 3.4%€92,712within the sector's middle half▼ 5.7%€81,550within the sector's middle half▼ 12.0%€107,137within the sector's middle half▲ 31.4%€103,374within the sector's middle half▼ 3.5%
Total assets€246,824within the sector's middle half▲ 91.4%€240,365within the sector's middle half▼ 2.6%€225,826within the sector's middle half▼ 6.0%€254,139within the sector's middle half▲ 12.5%€584,135above the sector's middle half▲ 130%
Debt€148,469▲ 448%€147,653▼ 0.5%€144,276▼ 2.3%€147,003▲ 1.9%€480,762▲ 227%
Working capital€33,249within the sector's middle half▼ 65.5%€17,590within the sector's middle half▼ 47.1%€11,235within the sector's middle half▼ 36.1%€24,176within the sector's middle half▲ 115%€13,394within the sector's middle half▼ 44.6%
Solvency39.8%within the sector's middle half▼ 39.1pp38.6%within the sector's middle half▼ 1.3pp36.1%within the sector's middle half▼ 2.5pp42.2%within the sector's middle half▲ 6.0pp17.7%below the sector's middle half▼ 24.5pp
Current ratio2.16within the sector's middle half▼ 2.401.54within the sector's middle half▼ 0.631.33within the sector's middle half▼ 0.211.57within the sector's middle half▲ 0.241.07below the sector's middle half▼ 0.49
Return on assets (ROA)5.1%within the sector's middle half▼ 5.1pp3.9%within the sector's middle half▼ 1.2pp5.5%within the sector's middle half▲ 1.6pp19.6%above the sector's middle half▲ 14.1pp5.3%within the sector's middle half▼ 14.2pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 35% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €584,135
Fixed assets
€391,889 ▲ 109%
Current assets
€192,247 ▲ 188%
Equity and liabilities €584,135
Equity
€103,374 ▼ 3.5%
Debt
€480,762 ▲ 227%
Debt's share of the balance-sheet total rises from 57.8% to 82.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€94,371▲
2024 · €85,284
Cash flow
€77,561▲
2024 · €61,214
Debt to equity
4.65▲
2024 · 1.37
ROE
30.1%▼
2024 · 46.4%
Interest coverage
18.59▼
2024 · 22.57
Debt ≤ 1 year
€178,853▲
2024 · €42,502
Debt > 1 year
€301,909▲
2024 · €104,501
Income taxes
€13,899▼
2024 · €20,970
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,609 companies that looked in July 2024 the way this one looks now, 1.0% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.0%
went bankrupt
2.1%
stopped otherwise
97%
still going
For this company itself Checked computes a higher bankruptcy probability: 1.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,609 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €1,737 | - | - | - | €3,262 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,510 | €10,329 | €11,414 | €11,505 | €46,394 | ▲ 303% |
| Other operating charges640/8 | €447 | €1,298 | €1,114 | €1,697 | €1,691 | ▼ 0.4% |
| Non-recurring operating charges66A | - | - | €48 | - | - | - |
| Gross operating margin9900 | €22,776 | €30,333 | €35,612 | €86,982 | €96,062 | ▲ 10.4% |
| Operating profit (loss)9901 | €19,819 | €18,706 | €23,035 | €73,779 | €47,977 | ▼ 35.0% |
| Financial income75/76B | €1,570 | €1,305 | €790 | €678 | €2,166 | ▲ 219% |
| Recurring financial income75 | €1,198 | €1,305 | €790 | €678 | €2,166 | ▲ 219% |
| Non-recurring financial income76B | €372 | - | - | - | - | - |
| Financial charges65/66B | €2,001 | €4,772 | €4,467 | €3,779 | €5,077 | ▲ 34.4% |
| Recurring financial charges65 | €2,001 | €4,772 | €4,467 | €3,779 | €5,077 | ▲ 34.4% |
| Profit (loss) for the period before taxes9903 | €19,388 | €15,239 | €19,359 | €70,679 | €45,065 | ▼ 36.2% |
| Income taxes67/77 | €6,881 | €5,883 | €7,021 | €20,970 | €13,899 | ▼ 33.7% |
| Profit (loss) for the period9904 | €12,507 | €9,356 | €12,338 | €49,709 | €31,167 | ▼ 37.3% |
| Profit (loss) for the period to be appropriated9905 | €12,507 | €9,356 | €12,338 | €49,709 | €31,167 | ▼ 37.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €246,824 | €240,365 | €225,826 | €254,139 | €584,135 | ▲ 130% |
| Fixed assets21/28 | €185,015 | €190,014 | €180,072 | €187,461 | €391,889 | ▲ 109% |
| Tangible fixed assets22/27 | €185,015 | €190,014 | €180,072 | €187,461 | €391,889 | ▲ 109% |
| Furniture and vehicles24 | €4,395 | €15,108 | €10,879 | €22,500 | €13,834 | ▼ 38.5% |
| Other tangible fixed assets26 | €180,620 | €174,906 | €169,193 | €164,962 | €378,054 | ▲ 129% |
| Current assets29/58 | €61,809 | €50,351 | €45,754 | €66,678 | €192,247 | ▲ 188% |
| Amounts receivable within one year40/41 | €37,069 | €38,908 | €37,657 | €37,685 | €164,686 | ▲ 337% |
| Trade receivables40 | €16,785 | €22,869 | €22,869 | €28,750 | €29,621 | ▲ 3.0% |
| Other amounts receivable41 | €20,284 | €16,039 | €14,788 | €8,936 | €135,065 | ▲ 1,412% |
| Cash at bank and in hand54/58 | €14,835 | €5,519 | €5,309 | €27,263 | €25,165 | ▼ 7.7% |
| Deferred charges and accrued income490/1 | €9,905 | €5,924 | €2,788 | €1,729 | €2,396 | ▲ 38.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €246,824 | €240,365 | €225,826 | €254,139 | €584,135 | ▲ 130% |
| Equity10/15 | €98,356 | €92,712 | €81,550 | €107,137 | €103,374 | ▼ 3.5% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €90,056 | €84,412 | €73,250 | €98,836 | €95,074 | ▼ 3.8% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | €88,196 | €82,552 | €73,250 | €98,836 | €95,074 | ▼ 3.8% |
| Profit (loss) carried forward14 | €2,100 | €2,100 | €2,100 | €2,100 | €2,100 | = |
| Amounts payable17/49 | €148,469 | €147,653 | €144,276 | €147,003 | €480,762 | ▲ 227% |
| Amounts payable after more than one year17 | €119,909 | €114,892 | €109,757 | €104,501 | €301,909 | ▲ 189% |
| Financial debts170/4 | €119,909 | €114,892 | €109,757 | €104,501 | €301,909 | ▲ 189% |
| Amounts payable within one year42/48 | €28,560 | €32,761 | €34,519 | €42,502 | €178,853 | ▲ 321% |
| Current portion of amounts payable after more than one year42 | €4,091 | €5,016 | €5,135 | €5,257 | €132,970 | ▲ 2,430% |
| Trade debts44 | €3,864 | €7,274 | €11 | €2,077 | €2,706 | ▲ 30.3% |
| Suppliers440/4 | €3,864 | €7,274 | €11 | €2,077 | €2,706 | ▲ 30.3% |
| Taxes, remuneration and social security45 | €4,605 | €5,470 | €5,873 | €11,047 | €8,247 | ▼ 25.3% |
| Taxes450/3 | €4,605 | €5,470 | €5,873 | €11,047 | €8,247 | ▼ 25.3% |
| Other amounts payable47/48 | €16,000 | €15,000 | €23,500 | €24,122 | €34,929 | ▲ 44.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12,507 | €9,356 | €12,338 | €49,709 | €31,167 | ▼ 37.3% |
| + Depreciation and write-downs630 | €2,510 | €10,329 | €11,414 | €11,505 | €46,394 | ▲ 303% |
| Operating cash flow (approximation) | €15,017 | €19,685 | €23,753 | €61,214 | €77,561 | ▲ 26.7% |
| Investment in fixed assets (approximation) | - | -€15,328 | -€1,473 | -€18,894 | -€250,821 | ▼ 1,228% |
| Change in cash | - | -€9,315 | -€211 | €21,954 | -€2,098 | ▼ 110% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €49,709 ▲303%
Operating result €73,779, net result €49,709, both a record.
31-12
Financial
Equity above €100,000Eq €107,137 ▲31.4%
7 profitable years in a row build equity to €107,137.
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €9,356 ▼25.2%
Net result drops to €9,356, the lowest in the series; recovery starts the following year.
10-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
04-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 4 days late
2020
20-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 20 days late
2019
31-12
Financial
Equity above €100,000Eq €103,782 ▲15.8%
2 profitable years in a row build equity to €103,782.
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
12-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
27-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 0 of 4 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Etterbeek · 1 establishment unit since 2013
Ground area
147 m²
Building footprint
71 m²
Volume, LiDAR
815 m³
Parcel 21364B0129/00F002, Brussels · tallest building 14.5 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
DEVWARE
since 2013unit no. 2.218.825.807
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21364B0129/00F002 | Brussels | 147 m² | 1 · 71 m² | 14.5 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 4,265 companies in this sector we hold annual accounts for 1,241. 1,049 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded30-04-2013
Fiscal year end31-12
Activities, NACEBEL 2025
43230Insulation installation
62100Computer programming
62200Computer consultancy and computer facilities management
74202Other professional, scientific and technical activities
85599Other education
95100Repair and maintenance of computers and communication equipment
E-invoicing
Reachable via Peppol
Peppol ID
0208:0533788426
Also
9925:BE0533788426
Registered
10-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.