DEWICO
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 29-07-2026 at the NBB all 31 filings
Turnover
≈ €950,000
Estimated: probably between €760,000 and €1.1m
Total assets
€1.4m▼ 2.3%
2024 · €1.4m
Net result
€261,574▼ 42.3%
2024 · €453,360
Working capital
€766,813▲ 65.1%
2024 · €464,341
In the rankings
#2 oldest company in Beerse, Arts, sports and recreation sector#3 company by equity in Beerse, Arts, sports and recreation sector#5 company by total assets in Beerse, Arts, sports and recreation sector
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€314,670
▼ 44.2%
2025
20192025
Net result
€261,574
▼ 42.3%
2025
highest quarter of the sector
20192025
Equity
€798,485
▲ 25.4%
2025
highest quarter of the sector
20192025
Total assets
€1.4m
▼ 2.3%
2025
middle half of the sector
20192025
Debt
€569,376
▼ 25.4%
2025
20192025
Working capital
€766,813
▲ 65.1%
2025
highest quarter of the sector
20192025
Solvency
58.4%
▲ 12.9pp
2025
middle half of the sector
20192025
Current ratio
2.94
▲ 1.02
2025
highest quarter of the sector
20192025
Return on assets (ROA)
19.1%
▼ 13.3pp
2025
highest quarter of the sector
20192025
Staff (FTE)
1.9
▲ 90.0%
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.2m-€0.04m▼ 80.9%-€0.4m€0.3m€0.3m▲ 21.8%€0.6m▲ 85.0%€0.3m▼ 44.2%
Net result€0.2m-€0.02mwithin the sector's middle half▼ 87.4%-€0.4mbelow the sector's middle half€0.2mabove the sector's middle half€0.3mabove the sector's middle half▲ 23.5%€0.5mabove the sector's middle half▲ 54.9%€0.3mabove the sector's middle half▼ 42.3%
Equity€0.2m-€0.3mwithin the sector's middle half▲ 7.9%-€0.1mbelow the sector's middle half€0.09mwithin the sector's middle half€0.3mwithin the sector's middle half▲ 212%€0.6mwithin the sector's middle half▲ 125%€0.8mabove the sector's middle half▲ 25.4%
Total assets€2.0m-€1.8mwithin the sector's middle half▼ 11.0%€1.0mwithin the sector's middle half▼ 43.9%€1.2mwithin the sector's middle half▲ 22.8%€1.3mwithin the sector's middle half▲ 3.8%€1.4mwithin the sector's middle half▲ 10.4%€1.4mwithin the sector's middle half▼ 2.3%
Debt€1.7m-€1.5m▼ 13.6%€1.1m▼ 24.3%€1.1m▼ 0.9%€1.0m▼ 13.0%€0.8m▼ 22.5%€0.6m▼ 25.4%
Working capital-€0.3m--€0.2mbelow the sector's middle half▲ 18.8%-€0.2mbelow the sector's middle half▲ 15.3%-€0.04mwithin the sector's middle half▲ 77.0%€0.1mwithin the sector's middle half€0.5mabove the sector's middle half▲ 329%€0.8mabove the sector's middle half▲ 65.1%
Solvency12.4%-15.0%within the sector's middle half▲ 2.6pp-14.7%below the sector's middle half▼ 29.7pp7.4%below the sector's middle half▲ 22.1pp22.4%within the sector's middle half▲ 14.9pp45.5%within the sector's middle half▲ 23.1pp58.4%within the sector's middle half▲ 12.9pp
Current ratio0.73-0.68within the sector's middle half▼ 0.050.67within the sector's middle half=0.93within the sector's middle half▲ 0.251.19within the sector's middle half▲ 0.271.93within the sector's middle half▲ 0.742.94above the sector's middle half▲ 1.02
Return on assets (ROA)7.8%-1.1%within the sector's middle half▼ 6.7pp-41.4%below the sector's middle half▼ 42.5pp19.4%above the sector's middle half▲ 60.8pp23.1%above the sector's middle half▲ 3.7pp32.4%above the sector's middle half▲ 9.3pp19.1%above the sector's middle half▼ 13.3pp
Staff (FTE)1.1-1.1below the sector's middle half=1below the sector's middle half▼ 9.1%1.5below the sector's middle half▲ 50.0%2.1within the sector's middle half▲ 40.0%1below the sector's middle half▼ 52.4%1.9within the sector's middle half▲ 90.0%
above
within
below
The sector band is the middle half of the companies in Sports, amusement and recreation activities (NACE 93). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 44% lower than in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.4m
Fixed assets
€206,718 ▼ 52.6%
Current assets
€1.2m ▲ 20.4%
Equity and liabilities €1.4m
Equity
€798,485 ▲ 25.4%
Debt
€569,376 ▼ 25.4%
Debt's share of the balance-sheet total falls from 54.5% to 41.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€414,963▼
2024 · €657,575
Cash flow
€361,867▼
2024 · €547,383
Quick ratio
1.92▲
2024 · 1.07
Debt to equity
0.71▼
2024 · 1.20
ROE
32.8%▼
2024 · 71.2%
Interest coverage
30.47▼
2024 · 39.84
Debt ≤ 1 year
€394,330▼
2024 · €499,797
Debt > 1 year
€175,046▼
2024 · €257,759
Income taxes
€59,845▼
2024 · €99,815
Staff costs
€106,279▲
2024 · €67,283
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 2 | 1 | 2 | 2 |
| full-time | 1 | 2 | 1 | 2 | 2 |
| part-time | 0 | 0 | 0 | 0 | 0 |
| in full-time equivalents | 1 | 2 | 1 | 2 | 2 |
| Average over the year, in full-time equivalents | 1 | 1.5 | 2.1 | 1 | 1.9 |
| On a permanent contract | 1 | 2 | 1 | 1 | 1 |
| Joined | - | 2 | 1 | 4 | - |
| Left | - | 1 | 2 | 3 | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €441,459 | €149,954 | €44,593 | €122,905 | €132,709 |
| Intangible fixed assets | €0 | - | - | - | - |
| Financial fixed assets | €0 | - | - | - | €0 |
| Depreciation and write-downs of the year | €67,196 | €74,191 | €80,750 | €94,023 | €100,293 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 · 1 entry · €18,104 awarded · €18,104 paidAnnual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €6,654 | €0 | - | - | - |
| Remuneration, social security and pensions62 | - | - | €37,627 | €76,463 | €106,500 | €67,283 | €106,279 | ▲ 58.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €78,165 | €92,526 | €67,196 | €74,191 | €80,750 | €94,023 | €100,293 | ▲ 6.7% |
| Other operating charges640/8 | - | - | €74,283 | €3,707 | €3,296 | €8,999 | €15,185 | ▲ 68.7% |
| Non-recurring operating charges66A | - | - | €215,508 | €0 | €48,482 | €180 | €0 | ▼ 100% |
| Gross operating margin9900 | €357,153 | €195,160 | €18,297 | €404,419 | €543,702 | €734,037 | €536,426 | ▼ 26.9% |
| Operating profit (loss)9901 | €201,131 | €38,417 | -€376,317 | €250,058 | €304,674 | €563,552 | €314,670 | ▼ 44.2% |
| Financial income75/76B | - | - | €5,511 | €0 | - | €6,131 | €20,367 | ▲ 232% |
| Recurring financial income75 | €13,133 | - | €5,511 | €0 | - | €6,131 | €20,367 | ▲ 232% |
| Financial charges65/66B | - | - | €39,565 | €11,670 | €10,762 | €16,507 | €13,617 | ▼ 17.5% |
| Recurring financial charges65 | €15,582 | €17,280 | €39,565 | €11,670 | €10,762 | €16,507 | €13,617 | ▼ 17.5% |
| Profit (loss) for the period before taxes9903 | €188,559 | €21,138 | -€410,371 | €238,389 | €293,912 | €553,175 | €321,419 | ▼ 41.9% |
| Income taxes67/77 | €33,548 | €1,567 | €1,686 | €1,365 | €1,272 | €99,815 | €59,845 | ▼ 40.0% |
| Profit (loss) for the period9904 | €155,011 | €19,571 | -€412,057 | €237,024 | €292,640 | €453,360 | €261,574 | ▼ 42.3% |
| Profit (loss) for the period to be appropriated9905 | €155,011 | €19,571 | -€412,057 | €237,024 | €292,640 | €453,360 | €261,574 | ▼ 42.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €2.0m | €1.8m | €1.0m | €1.2m | €1.3m | €1.4m | €1.4m | ▼ 2.3% |
| Fixed assets21/28 | €1.3m | €1.3m | €0.6m | €0.7m | €0.6m | €0.4m | €0.2m | ▼ 52.6% |
| Tangible fixed assets22/27 | €1.3m | €1.3m | €0.6m | €0.7m | €0.6m | €0.4m | €0.2m | ▼ 53.1% |
| Land and buildings22 | - | - | €0.5m | €0.5m | €0.5m | €0.3m | €0 | ▼ 100% |
| Plant, machinery and equipment23 | - | - | €0.05m | €0.2m | €0.1m | €0.2m | €0.2m | ▲ 14.5% |
| Furniture and vehicles24 | - | - | €0.05m | €0.04m | €0.02m | €0.009m | €0.01m | ▲ 6.8% |
| Financial fixed assets28 | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Current assets29/58 | €0.7m | €0.5m | €0.4m | €0.5m | €0.7m | €1.0m | €1.2m | ▲ 20.4% |
| Amounts receivable after more than one year29 | - | - | - | - | - | €0.3m | €0.2m | ▼ 30.9% |
| Other amounts receivable291 | - | - | - | - | - | €0.3m | €0.2m | ▼ 30.9% |
| Stocks and contracts in progress3 | €0.3m | €0.3m | €0.2m | €0.1m | €0.3m | €0.4m | €0.4m | ▼ 6.1% |
| Stocks30/36 | - | - | €0.2m | €0.1m | €0.3m | €0.4m | €0.4m | ▼ 6.1% |
| Amounts receivable within one year40/41 | €0.3m | €0.1m | €0.1m | €0.2m | €0.1m | €0.2m | €0.4m | ▲ 158% |
| Trade receivables40 | - | - | €0.08m | €0.2m | €0.1m | €0.1m | €0.1m | ▲ 49.2% |
| Other amounts receivable41 | - | - | €0.02m | €0.007m | €0.005m | €0.07m | €0.3m | ▲ 302% |
| Cash at bank and in hand54/58 | €0.1m | €0.03m | €0.07m | €0.2m | €0.2m | €0.05m | €0.09m | ▲ 63.2% |
| Deferred charges and accrued income490/1 | - | - | €0.02m | €0.005m | €0.009m | €0.005m | €0.02m | ▲ 259% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €2.0m | €1.8m | €1.0m | €1.2m | €1.3m | €1.4m | €1.4m | ▼ 2.3% |
| Equity10/15 | €0.2m | €0.3m | -€0.1m | €0.09m | €0.3m | €0.6m | €0.8m | ▲ 25.4% |
| Contributions10/11 | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | €0.6m | €0.8m | ▲ 26.2% |
| Non-distributable reserves130/1 | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Distributable reserves133 | - | - | €0.2m | €0.2m | €0.3m | €0.6m | €0.8m | ▲ 26.2% |
| Profit (loss) carried forward14 | - | - | -€0.4m | -€0.2m | €0 | €0 | €0 | - |
| Amounts payable17/49 | €1.7m | €1.5m | €1.1m | €1.1m | €1.0m | €0.8m | €0.6m | ▼ 25.4% |
| Amounts payable after more than one year17 | €0.7m | €0.8m | €0.6m | €0.5m | €0.4m | €0.3m | €0.2m | ▼ 32.1% |
| Financial debts170/4 | - | - | €0.3m | €0.2m | €0.2m | €0.1m | €0.2m | ▲ 17.8% |
| Other amounts payable178/9 | - | - | €0.3m | €0.4m | €0.3m | €0.1m | - | - |
| Amounts payable within one year42/48 | €1.0m | €0.7m | €0.6m | €0.6m | €0.6m | €0.5m | €0.4m | ▼ 21.1% |
| Current portion of amounts payable after more than one year42 | - | - | €0.2m | €0.09m | €0.09m | €0.05m | €0.07m | ▲ 36.8% |
| Financial debts43 | - | - | €0 | - | - | - | - | - |
| Credit institutions430/8 | - | - | €0 | - | - | - | - | - |
| Trade debts44 | €0.6m | €0.4m | €0.4m | €0.4m | €0.3m | €0.3m | €0.2m | ▼ 39.3% |
| Suppliers440/4 | - | - | €0.4m | €0.4m | €0.3m | €0.3m | €0.2m | ▼ 39.3% |
| Taxes, remuneration and social security45 | - | - | €0.01m | €0.06m | €0.02m | €0.03m | €0.03m | ▲ 6.4% |
| Taxes450/3 | - | - | €0.008m | €0.05m | €0.02m | €0.02m | €0.02m | ▲ 7.6% |
| Remuneration and social security454/9 | - | - | €0.003m | €0.008m | €0.007m | €0.008m | €0.008m | ▲ 3.3% |
| Other amounts payable47/48 | - | - | €0 | €0.007m | €0.1m | €0.1m | €0.1m | = |
| Accrued charges and deferred income492/3 | - | - | €0.006m | €0.008m | €0 | €0.006m | €0 | ▼ 100% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €155,011 | €19,571 | -€412,057 | €237,024 | €292,640 | €453,360 | €261,574 | ▼ 42.3% |
| + Depreciation and write-downs630 | €78,165 | €92,526 | €67,196 | €74,191 | €80,750 | €94,023 | €100,293 | ▲ 6.7% |
| Operating cash flow (approximation) | €233,176 | €112,096 | -€344,862 | €311,214 | €373,390 | €547,383 | €361,867 | ▼ 33.9% |
| Investment in fixed assets (approximation) | - | -€133,138 | €636,940 | -€149,954 | €3,889 | €66,081 | €129,020 | ▲ 95.2% |
| Change in cash | - | -€69,172 | €36,279 | €127,390 | €36,515 | -€178,233 | €34,196 | - |
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, 31,368 companies had the same profile as DEWICO has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DEWICO itself: 0.3% 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 31,368 companies, not a prediction for DEWICO. 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 31 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 29-07-2026 | 2026-00345702 | |
| 31-12-2024 | abbreviated format | 01-07-2025 | 2025-00226257 | |
| 31-12-2023 | abbreviated format | 07-06-2024 | 2024-00114821 | |
| 31-12-2022 | abbreviated format | 04-07-2023 | 2023-00195566 | |
| 31-12-2021 | abbreviated format | 05-07-2022 | 2022-20132226 | |
| 30-06-2020 | abbreviated format | 14-12-2020 | 2020-75300177 | |
| 30-06-2019 | abbreviated format | 31-12-2019 | 2019-77600567 | |
| 30-06-2018 | abbreviated format | 28-12-2018 | 2018-75700580 | |
| 30-06-2017 | abbreviated format | 09-01-2018 | 2018-00500083 | |
| 30-06-2016 | abbreviated format | 30-01-2017 | 2017-02400197 |