DFG
ActiveSummary
DFG has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €99,525 and a net result of €8,509. Equity is shrinking by ~2.9% per year across the filed fiscal years. Its solvency ranks better than 47% of 3494 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▼-7
Solvency72▼-4
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity ample (current ratio 1.64 against 1.77 in 2024; short-term debt: 43.7% and cash: 62.6% of total assets), but 52.7% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 74
Relative position
BE, all sectors
reference
Other professional, scientific and technical activities (NACE 74)
about 48% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
47.3%
Return on assets
4%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €99,525
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 16-06-2026, 45 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
45 d early
2024
42 d early
2023
40 d early
2022
25 d late
2021
25 d late
2020
25 d late
2019
24 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 4 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% 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.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€99,525▲ 8.4%
2024 · €91,816
Total assets
€210,298▲ 17.6%
2024 · €178,797
Net result
€8,509▼ 51.9%
2024 · €17,680
Working capital
€59,197▼ 8.6%
2024 · €64,753
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€21,134€4,707▼ 77.7%€16,364▲ 248%€28,793▲ 76.0%€16,423▼ 43.0%
Net result€18,512€3,084▼ 83.3%€9,803▲ 218%€17,680▲ 80.4%€8,509▼ 51.9%
Equity€93,118▼ 11.1%€82,878▼ 11.0%€84,559▲ 2.0%€91,816▲ 8.6%€99,525▲ 8.4%
Total assets€162,428▲ 3.2%€141,758▼ 12.7%€148,828▲ 5.0%€178,797▲ 20.1%€210,298▲ 17.6%
Debt€69,311▲ 31.8%€58,881▼ 15.0%€64,269▲ 9.2%€86,981▲ 35.3%€110,773▲ 27.4%
Working capital€42,020▼ 20.1%€38,168▼ 9.2%€50,028▲ 31.1%€64,753▲ 29.4%€59,197▼ 8.6%
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 43% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €210,298
Fixed assets
€59,303 ▲ 96.4%
Current assets
€150,996 ▲ 1.6%
Equity and liabilities €210,298
Equity
€99,525 ▲ 8.4%
Debt
€110,773 ▲ 27.4%
Debt's share of the balance-sheet total rises from 48.6% to 52.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€30,869▼
2024 · €41,934
Cash flow
€22,955▼
2024 · €30,821
Current ratio
1.64▼
2024 · 1.77
Quick ratio
1.55▼
2024 · 1.66
Debt to equity
1.11▲
2024 · 0.95
ROE
8.5%▼
2024 · 19.3%
ROA
4.0%▼
2024 · 9.9%
Interest coverage
7.28▼
2024 · 12.61
Debt ≤ 1 year
€91,799▲
2024 · €83,844
Debt > 1 year
€15,272
Income taxes
€4,727▼
2024 · €8,401
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,287 | €20,532 | €14,013 | €13,141 | €14,446 | ▲ 9.9% |
| Other operating charges640/8 | €2,574 | €2,583 | €2,540 | €3,381 | €2,790 | ▼ 17.5% |
| Gross operating margin9900 | €44,994 | €27,821 | €32,917 | €45,315 | €33,659 | ▼ 25.7% |
| Operating profit (loss)9901 | €21,134 | €4,707 | €16,364 | €28,793 | €16,423 | ▼ 43.0% |
| Financial income75/76B | €69 | €97 | €390 | €614 | €1,051 | ▲ 71.1% |
| Recurring financial income75 | €69 | €97 | €390 | €614 | €1,051 | ▲ 71.1% |
| Financial charges65/66B | €1,366 | €159 | €2,225 | €3,326 | €4,238 | ▲ 27.4% |
| Recurring financial charges65 | €1,366 | €159 | €2,225 | €3,326 | €4,238 | ▲ 27.4% |
| Profit (loss) for the period before taxes9903 | €19,836 | €4,645 | €14,529 | €26,081 | €13,236 | ▼ 49.3% |
| Income taxes67/77 | €1,325 | €1,560 | €4,726 | €8,401 | €4,727 | ▼ 43.7% |
| Profit (loss) for the period9904 | €18,512 | €3,084 | €9,803 | €17,680 | €8,509 | ▼ 51.9% |
| Profit (loss) for the period to be appropriated9905 | €18,512 | €3,084 | €9,803 | €17,680 | €8,509 | ▼ 51.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €162,428 | €141,758 | €148,828 | €178,797 | €210,298 | ▲ 17.6% |
| Fixed assets21/28 | €51,098 | €44,710 | €36,763 | €30,200 | €59,303 | ▲ 96.4% |
| Tangible fixed assets22/27 | €51,098 | €44,710 | €36,763 | €30,200 | €59,303 | ▲ 96.4% |
| Land and buildings22 | €23,277 | €17,233 | €13,094 | €8,672 | €4,628 | ▼ 46.6% |
| Plant, machinery and equipment23 | €25,031 | €20,370 | €13,929 | €13,755 | €13,772 | ▲ 0.1% |
| Furniture and vehicles24 | €2,790 | €7,106 | €9,739 | €7,773 | €40,903 | ▲ 426% |
| Current assets29/58 | €111,330 | €97,049 | €112,065 | €148,597 | €150,996 | ▲ 1.6% |
| Stocks and contracts in progress3 | €9,194 | €9,169 | €10,346 | €9,179 | €8,522 | ▼ 7.2% |
| Stocks30/36 | €9,194 | €9,169 | €10,346 | €9,179 | €8,522 | ▼ 7.2% |
| Amounts receivable within one year40/41 | €8,297 | €14,576 | €19,179 | €12,198 | €7,678 | ▼ 37.1% |
| Trade receivables40 | €8,238 | €6,137 | €14,307 | €10,465 | €4,968 | ▼ 52.5% |
| Other amounts receivable41 | €59 | €8,440 | €4,872 | €1,734 | €2,709 | ▲ 56.3% |
| Cash at bank and in hand54/58 | €92,254 | €71,572 | €79,512 | €123,858 | €131,614 | ▲ 6.3% |
| Deferred charges and accrued income490/1 | €1,586 | €1,732 | €3,029 | €3,361 | €3,182 | ▼ 5.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €162,428 | €141,758 | €148,828 | €178,797 | €210,298 | ▲ 17.6% |
| Equity10/15 | €93,118 | €82,878 | €84,559 | €91,816 | €99,525 | ▲ 8.4% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €74,518 | €64,278 | €65,959 | €73,216 | €80,925 | ▲ 10.5% |
| Non-distributable reserves130/1 | €8,149 | €8,149 | - | - | - | - |
| Reserves not available under the articles1311 | €8,149 | €8,149 | - | - | - | - |
| Tax-exempt reserves132 | €10,661 | €10,661 | €10,661 | €10,661 | €10,661 | = |
| Distributable reserves133 | €55,708 | €45,469 | €55,298 | €62,555 | €70,264 | ▲ 12.3% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €69,311 | €58,881 | €64,269 | €86,981 | €110,773 | ▲ 27.4% |
| Amounts payable after more than one year17 | - | - | - | - | €15,272 | - |
| Financial debts170/4 | - | - | - | - | €15,272 | - |
| Amounts payable within one year42/48 | €69,311 | €58,881 | €62,037 | €83,844 | €91,799 | ▲ 9.5% |
| Current portion of amounts payable after more than one year42 | €7,663 | - | - | - | €3,796 | - |
| Trade debts44 | €3,913 | €5,241 | €6,732 | €7,565 | €4,589 | ▼ 39.3% |
| Suppliers440/4 | €3,913 | €5,241 | €6,732 | €7,565 | €4,589 | ▼ 39.3% |
| Advances received on contracts in progress46 | €7,135 | €9,270 | €7,065 | €10,313 | €10,785 | ▲ 4.6% |
| Taxes, remuneration and social security45 | €3,537 | €3,955 | €4,686 | €4,307 | €4,955 | ▲ 15.0% |
| Taxes450/3 | €3,537 | €3,955 | €4,686 | €4,307 | €4,955 | ▲ 15.0% |
| Other amounts payable47/48 | €47,062 | €40,415 | €43,554 | €61,660 | €67,674 | ▲ 9.8% |
| Accrued charges and deferred income492/3 | - | - | €2,232 | €3,136 | €3,702 | ▲ 18.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,512 | €3,084 | €9,803 | €17,680 | €8,509 | ▼ 51.9% |
| + Depreciation and write-downs630 | €21,287 | €20,532 | €14,013 | €13,141 | €14,446 | ▲ 9.9% |
| Operating cash flow (approximation) | €39,799 | €23,616 | €23,816 | €30,821 | €22,955 | ▼ 25.5% |
| Investment in fixed assets (approximation) | - | -€14,144 | -€6,066 | -€6,578 | -€43,549 | ▼ 562% |
| Change in cash | - | -€20,682 | €7,940 | €44,346 | €7,756 | ▼ 82.5% |
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
16-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
19-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 25 days late
2022
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 25 days late
2021
31-12
Financial
Back to profitnet €18,512
Net result €18,512 after one loss-making year.
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
2020
31-12
Financial
Weakest financial yearnet -€8,053
Net result drops to -€8,053, the lowest in the series; recovery starts the following year.
24-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 24 days late
2019
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
10-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 11 days late
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
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Ternat · 1 establishment unit since 1994
Ground area
404 m²
Building footprint
381 m²
Volume, LiDAR
2,333 m³
Parcel 23086A0360/00P002, Flanders · tallest building 10.9 m, ±1 floor. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
de fotograaf
since 19942.065.234.720
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23086A0360/00P002 | Flanders | 404 m² | 1 · 381 m² | 10.9 m · 1 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.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 729 EUR awarded · 729 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 729 EUR | 729 EUR |
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Of 14,138 companies in sector 74201 we hold annual accounts for 2,611. 2,183 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded28-12-1993
Fiscal year end31-12
Activities, NACEBEL 2025
74201Photography, excluding press photography
47120Other non-specialised retail sale
47742Retail sale of prescription glasses, lenses and sunglasses
74209Other photographic activities
Scores and ratios are computed by Checked and are not a credit decision.