DHARMA
ActiveSummary
DHARMA has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €64k and a net result of €18k. Equity remains stable across the filed fiscal years (±1.2% per year). Its solvency ranks better than 42% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability85▲+10
Solvency71▲+9
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days acceptable
Liquidity ample (current ratio 1.51 against 1.17 in 2024; short-term debt: 54.1% and cash: 36.6% of total assets), but 54.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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
45.9%
Return on assets
13.1%
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 €64k
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 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
41 d early
2023
30 d late
2022
30 d late
2021
26 d late
2020
30 d late
2019
7 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€64k▲ 39.9%
2024 · €46k
2018: €44k
2019: €60k▲ +36.3% vs 2018
2020: €43k▼ -28.1% vs 2019
2021: €11k▼ -75.1% vs 2020lowest in 8 years
2022: €14k▲ +26.9% vs 2021
2023: €40k▲ +190% vs 2022
2024: €46k▲ +15.3% vs 2023
2025: €64k▲ +39.9% vs 2024highest in 8 years
2018 → 2025
Total assets
€140k▲ 12.1%
2024 · €125k
2018: €125k
2019: €141k▲ +12.7% vs 2018
2020: €143k▲ +2.0% vs 2019highest in 8 years
2021: €81k▼ -43.7% vs 2020lowest in 8 years
2022: €90k▲ +11.7% vs 2021
2023: €120k▲ +33.3% vs 2022
2024: €125k▲ +3.8% vs 2023
2025: €140k▲ +12.1% vs 2024
2018 → 2025
Net result
€18k▲ 200%
2024 · €6k
2018: €63khighest in 8 years
2019: €18k▼ -71.3% vs 2018
2020: €-17k▼ -194% vs 2019
2021: €-33k▼ -92.0% vs 2020lowest in 8 years
2022: €3k▲ +109% vs 2021
2023: €26k▲ +795% vs 2022
2024: €6k▼ -76.6% vs 2023
2025: €18k▲ +200% vs 2024
2018 → 2025
Working capital
€38k▲ 179%
2024 · €14k
2018: €26k
2019: €33k▲ +24.7% vs 2018
2020: €20k▼ -40.1% vs 2019
2021: €-14k▼ -169% vs 2020
2022: €-18k▼ -34.8% vs 2021lowest in 8 years
2023: €13k▲ +172% vs 2022
2024: €14k▲ +4.5% vs 2023
2025: €38k▲ +179% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€11k-€14k▲ 26.9%€40k▲ 190%€46k▲ 15.3%€64k▲ 39.9%
2021: €11klowest in 5 years
2022: €14k▲ +26.9% vs 2021
2023: €40k▲ +190% vs 2022
2024: €46k▲ +15.3% vs 2023
2025: €64k▲ +39.9% vs 2024highest in 5 years
Operating result€-31k-€4k€30k▲ 623%€12k▼ 61.0%€26k▲ 121%
2021: €-31klowest in 5 years
2022: €4k▲ +113% vs 2021
2023: €30k▲ +623% vs 2022highest in 5 years
2024: €12k▼ -61.0% vs 2023
2025: €26k▲ +121% vs 2024
Net result€-33k-€3k€26k▲ 795%€6k▼ 76.6%€18k▲ 200%
2021: €-33klowest in 5 years
2022: €3k▲ +109% vs 2021
2023: €26k▲ +795% vs 2022highest in 5 years
2024: €6k▼ -76.6% vs 2023
2025: €18k▲ +200% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 121% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €140k
Fixed assets
€26k ▼ 19.5%
Current assets
€114k ▲ 23.1%
Equity and liabilities €140k
Equity
€64k ▲ 39.9%
Debt
€76k ▼ 4.0%
Debt's share of the balance-sheet total falls from 63.2% to 54.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€34k▲
2024 · €18k
Cash flow
€26k▲
2024 · €13k
Current ratio
1.51▲
2024 · 1.17
Debt to equity
1.18▼
2024 · 1.72
ROE
28.5%▲
2024 · 13.3%
ROA
13.1%▲
2024 · 4.9%
Interest coverage
135.95▲
2024 · 39.27
Debt ≤ 1 year
€76k▼
2024 · €79k
Income taxes
€7k▲
2024 · €5k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€125k€140k▲
Fixed assets21/28€32k€26k▼
Tangible fixed assets22/27€32k€26k▼
Plant, machinery and equipment23€17k€12k▼
Furniture and vehicles24€13k€12k▼
Other tangible fixed assets26€2k€2k▼
Current assets29/58€93k€114k▲
Amounts receivable within one year40/41€17k€61k▲
Trade receivables40€14k€61k▲
Other amounts receivable41€3k€600▼
Cash at bank and in hand54/58€70k€51k▼
Deferred charges and accrued income490/1€5k€2k▼
Equity and liabilities
Total equity and liabilities10/49€125k€140k▲
Equity10/15€46k€64k▲
Contributions10/11€6k€6k=
Reserves13€66k€66k=
Non-distributable reserves130/1€2k-
Reserves not available under the articles1311€2k-
Tax-exempt reserves132€14k€14k=
Distributable reserves133€50k€51k▲
Profit (loss) carried forward14€-26k€-8k▲
Amounts payable17/49€79k€76k▼
Amounts payable within one year42/48€79k€76k▼
Financial debts43€4k€216▼
Credit institutions430/8€4k€216▼
Trade debts44€3k€2k▼
Suppliers440/4€3k€2k▼
Taxes, remuneration and social security45€8k€14k▲
Taxes450/3€8k€14k▲
Other amounts payable47/48€64k€59k▼
Accrued charges and deferred income492/3€23€77▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€8k▲
Other operating charges640/8€903€1k▲
Gross operating margin9900€19k€35k▲
Operating profit (loss)9901€12k€26k▲
Financial charges65/66B€462€249▼
Recurring financial charges65€462€249▼
Profit (loss) for the period before taxes9903€11k€26k▲
Income taxes67/77€5k€7k▲
Profit (loss) for the period9904€6k€18k▲
Profit (loss) for the period to be appropriated9905€6k€18k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-26k€-8k▲
Profit (loss) brought forward from the previous period14P€-32k€-26k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5k | €6k | €6k | €6k | €8k | ▲ 23.3% |
| Other operating charges640/8 | €2k | €2k | €1k | €903 | €1k | ▲ 38.1% |
| Non-recurring operating charges66A | €26k | - | - | - | - | - |
| Gross operating margin9900 | €1k | €12k | €38k | €19k | €35k | ▲ 84.2% |
| Operating profit (loss)9901 | €-31k | €4k | €30k | €12k | €26k | ▲ 121% |
| Financial income75/76B | - | €18 | €0 | - | - | - |
| Recurring financial income75 | - | €18 | €0 | - | - | - |
| Financial charges65/66B | €1k | €1k | €763 | €462 | €249 | ▼ 46.1% |
| Recurring financial charges65 | €1k | €1k | €763 | €462 | €249 | ▼ 46.1% |
| Profit (loss) for the period before taxes9903 | €-32k | €3k | €29k | €11k | €26k | ▲ 128% |
| Income taxes67/77 | €143 | €169 | €3k | €5k | €7k | ▲ 42.9% |
| Profit (loss) for the period9904 | €-33k | €3k | €26k | €6k | €18k | ▲ 200% |
| Profit (loss) for the period to be appropriated9905 | €-33k | €3k | €26k | €6k | €18k | ▲ 200% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €81k | €90k | €120k | €125k | €140k | ▲ 12.1% |
| Fixed assets21/28 | €24k | €33k | €27k | €32k | €26k | ▼ 19.5% |
| Tangible fixed assets22/27 | €24k | €33k | €27k | €32k | €26k | ▼ 19.5% |
| Plant, machinery and equipment23 | €19k | €25k | €21k | €17k | €12k | ▼ 25.0% |
| Furniture and vehicles24 | €3k | €5k | €4k | €13k | €12k | ▼ 13.4% |
| Other tangible fixed assets26 | €3k | €3k | €3k | €2k | €2k | ▼ 15.2% |
| Current assets29/58 | €56k | €57k | €93k | €93k | €114k | ▲ 23.1% |
| Amounts receivable within one year40/41 | €13k | €14k | €40k | €17k | €61k | ▲ 265% |
| Trade receivables40 | €12k | €14k | €40k | €14k | €61k | ▲ 336% |
| Other amounts receivable41 | €364 | - | - | €3k | €600 | ▼ 78.9% |
| Cash at bank and in hand54/58 | €43k | €41k | €51k | €70k | €51k | ▼ 27.3% |
| Deferred charges and accrued income490/1 | €334 | €2k | €2k | €5k | €2k | ▼ 70.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €81k | €90k | €120k | €125k | €140k | ▲ 12.1% |
| Equity10/15 | €11k | €14k | €40k | €46k | €64k | ▲ 39.9% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €66k | €66k | €66k | €66k | €66k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | - | - |
| Tax-exempt reserves132 | €14k | €14k | €14k | €14k | €14k | = |
| Distributable reserves133 | €50k | €50k | €50k | €50k | €51k | ▲ 3.7% |
| Profit (loss) carried forward14 | €-61k | €-58k | €-32k | €-26k | €-8k | ▲ 69.5% |
| Amounts payable17/49 | €70k | €76k | €80k | €79k | €76k | ▼ 4.0% |
| Amounts payable within one year42/48 | €70k | €76k | €80k | €79k | €76k | ▼ 4.1% |
| Financial debts43 | - | - | - | €4k | €216 | ▼ 94.3% |
| Credit institutions430/8 | - | - | - | €4k | €216 | ▼ 94.3% |
| Trade debts44 | €947 | €953 | €2k | €3k | €2k | ▼ 29.6% |
| Suppliers440/4 | €947 | €953 | €2k | €3k | €2k | ▼ 29.6% |
| Taxes, remuneration and social security45 | €10k | €7k | €10k | €8k | €14k | ▲ 75.5% |
| Taxes450/3 | €1k | €7k | €10k | €8k | €14k | ▲ 75.5% |
| Remuneration and social security454/9 | €9k | - | - | - | - | - |
| Other amounts payable47/48 | €59k | €68k | €68k | €64k | €59k | ▼ 7.4% |
| Accrued charges and deferred income492/3 | - | €673 | €712 | €23 | €77 | ▲ 237% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-33k | €3k | €26k | €6k | €18k | ▲ 200% |
| + Depreciation and write-downs630 | €5k | €6k | €6k | €6k | €8k | ▲ 23.3% |
| Operating cash flow (approximation) | €-28k | €9k | €33k | €13k | €26k | ▲ 109% |
| Investment in fixed assets (approximation) | - | €-14k | €-1k | €-11k | €-2k | ▲ 85.1% |
| Change in cash | - | €-2k | €10k | €20k | €-19k | ▼ 198% |
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
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-12
Financial
Back to profitnet €3k
Net result €3k after 2 loss-making years.
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
31-12
Financial
Weakest financial yearnet €-33k
Net result drops to €-33k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
07-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 7 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
07-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 7 days late
2017
28-07
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 8 acts read
About the unread acts
We know of 8 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
8 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, Court-Saint-Etienne · 1 establishment unit since 2015
Ground area
559 m²
Building footprint
125 m²
Volume, LiDAR
1,255 m³
Parcel 25023F0627/00K000, Wallonia · tallest building 12.2 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
KOVACO
since 20152.243.215.664
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25023F0627/00K000 | Wallonia | 559 m² | 1 · 125 m² | 12.2 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.
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Of 82,632 companies in sector 70200 we hold annual accounts for 52,575. 39,284 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
Founded13-03-2002
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
68121Development of residential building projects
46190Agents in non-specialised wholesale trade
Scores and ratios are computed by Checked and are not a credit decision.