Dialix
ActiveFinancials · financial year 2025, full format
2025 annual accounts filed 13 days after the deadline Filed on 13 May 2026, deadline 30 April 2026 (7 months after the close on 30 September 2025, Companies Code art. 3:10). Source: NBB, 2026-00111050.
Annual accounts 2025 filed on 13-05-2026 PDF all 12 filings
Turnover
€432,718▲ 27.4%
2024 · €339,733
EBIT margin
6.2%▼ 2.7pp
2024 · 9.0%
Net result
€20,458▼ 11.4%
2024 · €23,078
Working capital
€69,894▼ 4.1%
2024 · €72,902
Multi-year overview
2019 to 2025, 7 financial yearsTurnover
€432,718
▲ 27.4%
2025
20192025
Operating result
€26,970
▼ 11.4%
2025
20192025
Net result
€20,458
▼ 11.4%
2025
middle half of the sector
20192025
EBIT margin
6.2%
▼ 2.7pp
2025
20192025
Equity
€66,548
=
2025
lowest quarter of the sector
20192025
Total assets
€264,773
▲ 50.6%
2025
lowest quarter of the sector
20192025
Debt
€198,225
▲ 81.4%
2025
20192025
Working capital
€69,894
▼ 4.1%
2025
middle half of the sector
20192025
Solvency
25.1%
▼ 12.7pp
2025
middle half of the sector
20192025
Current ratio
1.36
▼ 0.35
2025
middle half of the sector
20192025
Return on assets (ROA)
7.7%
▼ 5.4pp
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
Turnover€359,115-€333,614▼ 7.1%€245,781▼ 26.3%€313,143€339,733▲ 8.5%€432,718▲ 27.4%
Operating result€6,720-€15,481▲ 130%€730▼ 95.3%€1,149▲ 57.3%€555▼ 51.7%€30,452▲ 55×€26,970▼ 11.4%
Net result€3,817-€15,261within the sector's middle half▲ 300%€576below the sector's middle half▼ 96.2%€257below the sector's middle half▼ 55.4%€377below the sector's middle half▲ 46.4%€23,078within the sector's middle half▲ 61×€20,458within the sector's middle half▼ 11.4%
EBIT margin1.9%-4.6%▲ 2.8pp0.3%▼ 4.3pp0.2%9.0%▲ 8.8pp6.2%▼ 2.7pp
Equity€27,002-€42,262below the sector's middle half▲ 56.5%€42,839below the sector's middle half▲ 1.4%€43,096below the sector's middle half▲ 0.6%€43,472below the sector's middle half▲ 0.9%€66,550below the sector's middle half▲ 53.1%€66,548below the sector's middle half=
Total assets€127,781-€188,556within the sector's middle half▲ 47.6%€117,910below the sector's middle half▼ 37.5%€99,383below the sector's middle half▼ 15.7%€83,194below the sector's middle half▼ 16.3%€175,808below the sector's middle half▲ 111%€264,773below the sector's middle half▲ 50.6%
Debt€100,779-€146,293▲ 45.2%€75,072▼ 48.7%€56,287▼ 25.0%€39,722▼ 29.4%€109,258▲ 175%€198,225▲ 81.4%
Working capital€24,142-€43,951within the sector's middle half▲ 82.1%€49,035within the sector's middle half▲ 11.6%€60,771within the sector's middle half▲ 23.9%€55,261within the sector's middle half▼ 9.1%€72,902within the sector's middle half▲ 31.9%€69,894within the sector's middle half▼ 4.1%
Solvency21.1%-22.4%within the sector's middle half▲ 1.3pp36.3%within the sector's middle half▲ 13.9pp43.4%within the sector's middle half▲ 7.0pp52.3%within the sector's middle half▲ 8.9pp37.9%within the sector's middle half▼ 14.4pp25.1%within the sector's middle half▼ 12.7pp
Current ratio1.41-1.38within the sector's middle half▼ 0.031.91within the sector's middle half▲ 0.532.57above the sector's middle half▲ 0.672.98above the sector's middle half▲ 0.401.71within the sector's middle half▼ 1.271.36within the sector's middle half▼ 0.35
Return on assets (ROA)3.0%-8.1%within the sector's middle half▲ 5.1pp0.5%below the sector's middle half▼ 7.6pp0.3%below the sector's middle half▼ 0.2pp0.5%below the sector's middle half▲ 0.2pp13.1%above the sector's middle half▲ 12.7pp7.7%within the sector's middle half▼ 5.4pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 11% lower than in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €264,773
Equity
€66,548 =
Debt
€198,225 ▲ 81.4%
Debt's share of the balance-sheet total rises from 62.1% to 74.9%. Debt is higher.
Key figures and ratios
Debt to equity
2.98▲
2024 · 1.64
ROE
30.7%▼
2024 · 34.7%
Debt ≤ 1 year
€194,879▲
2024 · €102,907
Debt > 1 year
€3,346▼
2024 · €6,351
Income taxes
€6,473▼
2024 · €8,214
Customer credit
206 days▲
2024 · 116 days
Supplier credit
133 days▲
2024 · 111 days
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | €359,115 | €333,614 | €245,781 | - | €313,143 | €339,733 | €432,718 | ▲ 27.4% |
| Non-recurring operating income76A | - | - | €247,032 | €292,751 | €760 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €229,375 | €278,225 | €311,851 | €308,288 | €405,237 | ▲ 31.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,886 | €14,886 | €14,886 | €14,886 | - | - | - | - |
| Other operating charges640/8 | - | - | €1,464 | €128 | €1,498 | €993 | €512 | ▼ 48.5% |
| Gross operating margin9900 | €22,125 | €31,776 | €17,080 | €16,163 | €2,052 | €31,445 | €27,482 | ▼ 12.6% |
| Operating profit (loss)9901 | €6,720 | €15,481 | €730 | €1,149 | €555 | €30,452 | €26,970 | ▼ 11.4% |
| Financial income75/76B | - | - | - | - | €1,050 | €1,182 | - | - |
| Recurring financial income75 | - | - | - | - | €1,050 | €1,182 | - | - |
| Financial charges65/66B | - | - | €154 | €631 | €598 | €342 | €39 | ▼ 88.5% |
| Recurring financial charges65 | €629 | €221 | €154 | €631 | €598 | €342 | €39 | ▼ 88.5% |
| Profit (loss) for the period before taxes9903 | €6,090 | €15,261 | €576 | €517 | €1,006 | €31,292 | €26,931 | ▼ 13.9% |
| Income taxes67/77 | €2,273 | - | - | €260 | €630 | €8,214 | €6,473 | ▼ 21.2% |
| Profit (loss) for the period9904 | €3,817 | €15,261 | €576 | €257 | €377 | €23,078 | €20,458 | ▼ 11.4% |
| Profit (loss) for the period to be appropriated9905 | €3,817 | €15,261 | €576 | €257 | €377 | €23,078 | €20,458 | ▼ 11.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €127,781 | €188,556 | €117,910 | €99,383 | €83,194 | €175,808 | €264,773 | ▲ 50.6% |
| Fixed assets21/28 | €44,657 | €29,772 | €14,886 | - | - | - | - | - |
| Tangible fixed assets22/27 | €44,657 | €29,772 | €14,886 | - | - | - | - | - |
| Furniture and vehicles24 | - | - | €14,886 | - | - | - | - | - |
| Current assets29/58 | €83,124 | €158,784 | €103,024 | €99,383 | €83,194 | €175,808 | €264,773 | ▲ 50.6% |
| Amounts receivable within one year40/41 | €10,863 | €43,459 | €43,060 | €74,513 | €40,831 | €146,520 | €246,991 | ▲ 68.6% |
| Trade receivables40 | - | - | €30,264 | €11,731 | €12,032 | €107,507 | €243,743 | ▲ 127% |
| Other amounts receivable41 | - | - | €12,796 | €62,782 | €28,798 | €39,013 | €3,248 | ▼ 91.7% |
| Cash at bank and in hand54/58 | €72,261 | €115,325 | €59,964 | €24,870 | €42,364 | €29,289 | €17,782 | ▼ 39.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €127,781 | €188,556 | €117,910 | €99,383 | €83,194 | €175,808 | €264,773 | ▲ 50.6% |
| Equity10/15 | €27,002 | €42,262 | €42,839 | €43,096 | €43,472 | €66,550 | €66,548 | = |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | - | - |
| Capital10 | - | - | €18,600 | €18,600 | €18,600 | €18,600 | - | - |
| Issued capital100 | - | - | €18,600 | €18,600 | €18,600 | €18,600 | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | - | - |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | €1,860 | - | - |
| Legal reserve130 | - | - | €1,860 | €1,860 | €1,860 | €1,860 | - | - |
| Profit (loss) carried forward14 | €6,542 | €21,802 | €22,379 | €22,636 | €23,012 | €46,090 | €66,548 | ▲ 44.4% |
| Amounts payable17/49 | €100,779 | €146,293 | €75,072 | €56,287 | €39,722 | €109,258 | €198,225 | ▲ 81.4% |
| Amounts payable after more than one year17 | €41,798 | €31,461 | €21,082 | €17,675 | €11,789 | €6,351 | €3,346 | ▼ 47.3% |
| Financial debts170/4 | - | - | €21,082 | €17,675 | €11,789 | €6,351 | €3,346 | ▼ 47.3% |
| Amounts payable within one year42/48 | €58,982 | €114,833 | €53,990 | €38,611 | €27,933 | €102,907 | €194,879 | ▲ 89.4% |
| Current portion of amounts payable after more than one year42 | - | - | €10,379 | €3,925 | €2,603 | €1,809 | - | - |
| Trade debts44 | €3,241 | €42,270 | €31,641 | €28,362 | €24,096 | €94,121 | €147,757 | ▲ 57.0% |
| Suppliers440/4 | - | - | €4,525 | €1,739 | €566 | €3,702 | €147,757 | ▲ 40× |
| Bills of exchange payable441 | - | - | €27,116 | €26,622 | €23,530 | €90,420 | - | - |
| Taxes, remuneration and social security45 | - | - | €5,280 | €865 | €1,234 | €6,976 | €6,473 | ▼ 7.2% |
| Taxes450/3 | - | - | €5,280 | €865 | €1,234 | €6,976 | €6,473 | ▼ 7.2% |
| Other amounts payable47/48 | - | - | €6,691 | €5,460 | - | - | €40,649 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,817 | €15,261 | €576 | €257 | €377 | €23,078 | €20,458 | ▼ 11.4% |
| + Depreciation and write-downs630 | €14,886 | €14,886 | €14,886 | €14,886 | - | - | - | - |
| Operating cash flow (approximation) | €18,703 | €30,146 | €15,462 | €15,143 | €377 | €23,078 | €20,458 | ▼ 11.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - | - | - | - | - |
| Change in cash | - | €43,064 | -€55,360 | -€35,095 | €17,494 | -€13,075 | -€11,506 | ▲ 12.0% |
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, 5,053 companies had the same profile as Dialix has now. Two years later, 95.9% were still going and 1.6% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
95.9%
was still going
2.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Dialix itself: 1.4% 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 5,053 companies, not a prediction for Dialix. 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 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | full format | 13-05-2026 | 2026-00111050 | |
| 30-09-2024 | full format | 07-05-2025 | 2025-00093336 | |
| 30-09-2023 | full format | 29-05-2024 | 2024-00099800 | |
| 30-09-2022 | full format | 12-05-2023 | 2023-00089655 | |
| 30-09-2021 | full format | 28-04-2022 | 2022-20015065 | |
| 30-09-2020 | full format | 06-05-2021 | 2021-13700119 | |
| 30-09-2019 | full format | 30-04-2020 | 2020-11200008 | |
| 30-09-2018 | full format | 26-04-2019 | 2019-11300403 | |
| 30-09-2017 | full format | 30-04-2018 | 2018-11700501 | |
| 30-09-2016 | full format | 27-03-2017 | 2017-07800367 |