DHAESE
ActiveSummary
DHAESE has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.1m and a net result of €361,483. Equity remains stable across the filed fiscal years (±0.5% per year). Its solvency ranks better than 92% of 8061 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Overview
What they do
Joinery installation
NACE 43320
1 site
How big
€1.2mtotal assets 2025
- Equity
- €1.1m
- Profit
- €361,483
Turnover not published (abridged schema)
Who decides
Accounts 80 d early0 of 6 deeds read
Why 86- Higher-failure-rate sector+ Long track record+ Annual accounts: healthy financial profile+ Growing equityLatest accounts filed on timeShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+52
Solvency100▲+38
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €90,000 at 30 days acceptable
Liquidity ample (current ratio 12.89 against 0.42 in 2024; short-term debt: 6.1% and cash: 1.2% of total assets), and 14.3% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five 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 · 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
85.7%
Return on assets
29.2%
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 €1.1m
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 12-05-2026, 80 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
80 d early
2024
on the day
2023
5 d early
2022
6 d early
2021
3 d early
2020
2 d early
2019
on the day
← 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 14 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 27 July (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
- Annual accounts filedfiscal year 2025 · abbreviated…
- Back to profitnet €361,483
- Liquidity times 31current ratio 12.89
Financials
Fiscal year 2025Total assets €1.2mProfit €361,483Solvency 85.7%Liquidity 12.89
Total assets
€1.2m▼ 33.9%
2018 - 2025
Net result
€361,483
2018 - 2025
Equity
€1.1m▲ 51.8%
2018 - 2025
Solvency
85.7%▲ 48.4pp
2018 - 2025
Financials · fiscal year 2025, abbreviated schema
Trend over the years
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€0.02m▼ 23.3%€0.02m▲ 4.9%€0.02m▼ 25.9%€0.02m▼ 4.6%€0.5m▲ 3,366%
Net result€0.01mwithin the sector's middle half▼ 6.0%-€54below the sector's middle half-€0.005mbelow the sector's middle half▼ 9,275%-€0.006mbelow the sector's middle half▼ 8.5%€0.4mabove the sector's middle half
Equity€0.7mabove the sector's middle half▲ 2.1%€0.7mabove the sector's middle half=€0.7mwithin the sector's middle half▼ 0.7%€0.7mwithin the sector's middle half▼ 0.8%€1.1mabove the sector's middle half▲ 51.8%
Total assets€2.0mabove the sector's middle half▲ 0.5%€2.0mabove the sector's middle half▲ 0.3%€1.9mabove the sector's middle half▼ 2.8%€1.9mabove the sector's middle half▼ 2.9%€1.2mwithin the sector's middle half▼ 33.9%
Debt€1.2m▼ 0.3%€1.2m▲ 0.7%€1.2m▼ 4.0%€1.1m▼ 4.1%€0.2m▼ 84.0%
Working capital-€0.04mbelow the sector's middle half▼ 19.6%-€0.07mbelow the sector's middle half▼ 71.1%-€0.08mbelow the sector's middle half▼ 6.0%-€0.08mbelow the sector's middle half▼ 2.8%€0.9mabove the sector's middle half
Solvency35.9%within the sector's middle half▲ 0.6pp35.8%within the sector's middle half▼ 0.1pp36.5%within the sector's middle half▲ 0.8pp37.3%within the sector's middle half▲ 0.8pp85.7%above the sector's middle half▲ 48.4pp
Current ratio0.61below the sector's middle half▼ 0.040.40below the sector's middle half▼ 0.210.41below the sector's middle half▲ 0.010.42below the sector's middle half▲ 0.0112.89above the sector's middle half▲ 12.47
Return on assets (ROA)0.7%below the sector's middle half=0.0%below the sector's middle half▼ 0.7pp-0.3%below the sector's middle half▼ 0.3pp-0.3%below the sector's middle half=29.2%above the sector's middle half▲ 29.5pp
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 abbreviated schema does not require them.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 3,366% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.2m
Fixed assets
€267,746 ▼ 85.2%
Current assets
€969,508 ▲ 1,550%
Equity and liabilities €1.2m
Equity
€1.1m ▲ 51.8%
Provisions
€0 ▼ 100%
Debt
€177,504 ▼ 84.0%
Debt's share of the balance-sheet total falls from 59.3% to 14.3%. Equity is higher and debt is lower.
Key figures and ratios
Key figures and ratios
EBITDA
€558,298▲
2024 · €80,641
Cash flow
€383,497▲
2024 · €59,623
Debt to equity
0.17▼
2024 · 1.59
ROE
34.1%▲
2024 · -0.8%
Interest coverage
34.17▲
2024 · 3.51
Debt ≤ 1 year
€75,223▼
2024 · €139,160
Debt > 1 year
€95,741▼
2024 · €949,174
Income taxes
€223,385▲
2024 · €207
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,134 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
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 20,134 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.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €50,299 | €62,062 | €62,416 | €65,168 | €22,015 | ▼ 66.2% |
| Other operating charges640/8 | €20,205 | €18,930 | €22,031 | €20,566 | €21,152 | ▲ 2.9% |
| Gross operating margin9900 | €91,387 | €102,889 | €100,666 | €101,207 | €579,451 | ▲ 473% |
| Operating profit (loss)9901 | €20,883 | €21,896 | €16,219 | €15,473 | €536,284 | ▲ 3,366% |
| Financial income75/76B | €10,590 | €308 | €89 | €161 | €680 | ▲ 321% |
| Recurring financial income75 | €10,590 | €308 | €89 | €161 | €680 | ▲ 321% |
| Financial charges65/66B | €18,903 | €23,609 | €23,155 | €22,958 | €16,340 | ▼ 28.8% |
| Recurring financial charges65 | €18,903 | €23,609 | €23,155 | €22,958 | €16,340 | ▼ 28.8% |
| Profit (loss) for the period before taxes9903 | €12,570 | -€1,406 | -€6,848 | -€7,324 | €520,624 | ▲ 7,208% |
| Transfer from deferred taxes780 | €1,986 | €1,986 | €1,986 | €1,986 | €64,244 | ▲ 3,135% |
| Income taxes67/77 | €276 | €635 | €247 | €207 | €223,385 | ▲ 107,691% |
| Profit (loss) for the period9904 | €14,280 | -€54 | -€5,109 | -€5,545 | €361,483 | ▲ 6,619% |
| Transfer from tax-exempt reserves789 | €3,972 | €3,972 | €3,972 | €3,972 | €137,199 | ▲ 3,354% |
| Profit (loss) for the period to be appropriated9905 | €18,253 | €3,918 | -€1,136 | -€1,573 | €498,682 | ▲ 31,807% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.0m | €2.0m | €1.9m | €1.9m | €1.2m | ▼ 33.9% |
| Fixed assets21/28 | €1.9m | €1.9m | €1.9m | €1.8m | €0.3m | ▼ 85.2% |
| Tangible fixed assets22/27 | €1.9m | €1.9m | €1.9m | €1.8m | €0.3m | ▼ 85.2% |
| Land and buildings22 | €1.9m | €1.9m | €1.8m | €1.8m | €0.2m | ▼ 86.8% |
| Plant, machinery and equipment23 | €0.003m | €0.004m | €0.003m | €0.005m | €0.008m | ▲ 44.0% |
| Furniture and vehicles24 | €0.002m | €0.06m | €0.05m | €0.04m | €0.03m | ▼ 32.8% |
| Current assets29/58 | €0.07m | €0.05m | €0.05m | €0.06m | €1.0m | ▲ 1,550% |
| Amounts receivable within one year40/41 | €0.009m | €0.01m | €0.009m | €0.006m | €0.4m | ▲ 7,328% |
| Trade receivables40 | €0.007m | €0.005m | €0.005m | €0.006m | €0.005m | ▼ 5.9% |
| Other amounts receivable41 | €0.002m | €0.004m | €0.004m | €182 | €0.4m | ▲ 237,949% |
| Current investments50/53 | €0.04m | €0.02m | €0.03m | €0.03m | €0.5m | ▲ 1,859% |
| Cash at bank and in hand54/58 | €0.02m | €0.01m | €0.02m | €0.02m | €0.02m | ▼ 37.6% |
| Deferred charges and accrued income490/1 | €0.003m | €0.005m | €0.003m | €0.002m | €0.002m | ▼ 28.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.0m | €2.0m | €1.9m | €1.9m | €1.2m | ▼ 33.9% |
| Equity10/15 | €0.7m | €0.7m | €0.7m | €0.7m | €1.1m | ▲ 51.8% |
| Contributions10/11 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Reserves13 | €0.4m | €0.4m | €0.4m | €0.4m | €0.8m | ▲ 84.2% |
| Non-distributable reserves130/1 | €0.02m | €0.02m | €0.02m | €0 | - | - |
| Reserves not available under the articles1311 | €0.02m | €0.02m | €0.02m | €0 | - | - |
| Tax-exempt reserves132 | €0.1m | €0.1m | €0.1m | €0.1m | €0 | ▼ 100% |
| Distributable reserves133 | €0.3m | €0.3m | €0.3m | €0.3m | €0.8m | ▲ 171% |
| Profit (loss) carried forward14 | -€55 | €0 | -€0.001m | -€0.001m | €0 | ▲ 100% |
| Provisions and deferred taxes16 | €0.07m | €0.07m | €0.07m | €0.06m | €0 | ▼ 100% |
| Deferred taxes168 | €0.07m | €0.07m | €0.07m | €0.06m | €0 | ▼ 100% |
| Amounts payable17/49 | €1.2m | €1.2m | €1.2m | €1.1m | €0.2m | ▼ 84.0% |
| Amounts payable after more than one year17 | €1.1m | €1.1m | €1.0m | €0.9m | €0.1m | ▼ 89.9% |
| Financial debts170/4 | €1.1m | €1.1m | €1.0m | €0.9m | €0.1m | ▼ 89.9% |
| Amounts payable within one year42/48 | €0.1m | €0.1m | €0.1m | €0.1m | €0.08m | ▼ 45.9% |
| Current portion of amounts payable after more than one year42 | €0.05m | €0.06m | €0.06m | €0.06m | €0.02m | ▼ 59.2% |
| Trade debts44 | €0.008m | €0.004m | €0.001m | €0.001m | €209 | ▼ 71.7% |
| Suppliers440/4 | €0.008m | €0.004m | €0.001m | €0.001m | €209 | ▼ 71.7% |
| Taxes, remuneration and social security45 | €0.004m | €0.003m | €0.006m | €0.002m | €0.05m | ▲ 2,962% |
| Taxes450/3 | €0.004m | €0.003m | €0.006m | €0.002m | €0.05m | ▲ 2,962% |
| Other amounts payable47/48 | €0.05m | €0.06m | €0.07m | €0.08m | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | €0.01m | €0.02m | €0.02m | €0.02m | €0.007m | ▼ 69.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.01m | -€54 | -€0.005m | -€0.006m | €0.4m | ▲ 6,619% |
| + Depreciation and write-downs630 | €0.05m | €0.06m | €0.06m | €0.07m | €0.02m | ▼ 66.2% |
| Operating cash flow (approximation) | €0.06m | €0.06m | €0.06m | €0.06m | €0.4m | ▲ 543% |
| Investment in fixed assets (approximation) | - | -€0.09m | -€0.002m | -€0.006m | €1.5m | ▲ 26,781% |
| Change in cash | - | -€0.01m | €0.006m | €0.008m | -€0.009m | ▼ 212% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Comparable companies
Similar companies · same sector, comparable size
BOUWCENTER
BE 0417.302.314
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AZUR CONFORT BL & CO
BE 0877.144.472
Assesse · Eq €1,058,382
INTERIEURBOUW WILS
BE 0501.697.460
Balen · Eq €1,057,547
IMPROVE IT
BE 0859.643.593
Herentals · Eq €1,062,453
METAMIX
BE 0417.893.321
Merchtem · Eq €1,056,921
Of 20,017 companies in this sector we hold annual accounts for 9,142. 4,247 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Timeline
14 eventsLatest 12-05-2026Next filing 31-07-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
12-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €361,483
Net result €361,483 after 3 loss-making years.
31-12
Financial
Liquidity times 31current ratio 12.89
Current ratio from 0.42 to 12.89; short-term debt falls from €139,160 to €75,223.
31-12
Financial
Equity above €1mEq €1.1m ▲51.8%
Equity rises from €698,268 to €1.1m.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
26-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €15,193
Net result €15,193 after 2 loss-making years.
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
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We know of 6 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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Company details
Private limited company · founded 20-02-1995Year ends 31-12Peppol reachable1 site
Register details
Identification
Legal formPrivate limited company
Founded20-02-1995
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
31009Manufacture of furniture
46130Agents in the wholesale of timber and building materials
52210Service activities incidental to land transportation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0454602970
Also
9925:BE0454602970
Registered
02-09-2025
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.
Sites & property
Location & real-estate footprint
Registered office, Aalter · 1 establishment unit since 1995
Ground area
3,058 m²
Building footprint
267 m²
Volume, LiDAR
2,290 m³
Parcel 44502C0749/02K003, Flanders · tallest building 22.3 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
DHAESE
since 1995unit no. 2.070.635.739
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44502C0749/02K003 | Flanders | 3,058 m² | 1 · 267 m² | 22.3 m · 3 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.
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
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