Dicall Efficiency
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 08-06-2026 PDF all 17 filings
Turnover
≈ €270,000
Estimated: probably between €130,000 and €680,000
Total assets
€140,711▼ 35.6%
2024 · €218,428
Net result
€12,985▲ 32.5%
2024 · €9,797
Working capital
€41,411▼ 10.8%
2024 · €46,426
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€21,279
▲ 29.4%
2025
20182025
Net result
€12,985
▲ 32.5%
2025
middle half of the sector
20182025
Equity
€101,411
▲ 14.7%
2025
middle half of the sector
20182025
Total assets
€140,711
▼ 35.6%
2025
middle half of the sector
20182025
Debt
€39,300
▼ 69.8%
2025
20182025
Working capital
€41,411
▼ 10.8%
2025
middle half of the sector
20182025
Solvency
72.1%
▲ 31.6pp
2025
highest quarter of the sector
20182025
Current ratio
2.05
▲ 0.64
2025
middle half of the sector
20182025
Return on assets (ROA)
9.2%
▲ 4.7pp
2025
middle half of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€12,385-€21,614▲ 74.5%€40,123▲ 85.6%€1,391▼ 96.5%€8,175▲ 488%€2,013▼ 75.4%€16,441▲ 717%€21,279▲ 29.4%
Net result€11,703-€20,825▲ 77.9%€33,740above the sector's middle half▲ 62.0%€354within the sector's middle half▼ 99.0%€4,701within the sector's middle half▲ 13×€291within the sector's middle half▼ 93.8%€9,797within the sector's middle half▲ 34×€12,985within the sector's middle half▲ 32.5%
Equity€18,718-€39,543▲ 111%€73,283within the sector's middle half▲ 85.3%€73,637within the sector's middle half▲ 0.5%€78,338within the sector's middle half▲ 6.4%€78,629within the sector's middle half▲ 0.4%€88,426within the sector's middle half▲ 12.5%€101,411within the sector's middle half▲ 14.7%
Total assets€22,711-€79,849▲ 252%€89,899within the sector's middle half▲ 12.6%€95,295within the sector's middle half▲ 6.0%€91,164within the sector's middle half▼ 4.3%€90,453within the sector's middle half▼ 0.8%€218,428within the sector's middle half▲ 141%€140,711within the sector's middle half▼ 35.6%
Debt€3,992-€40,306▲ 910%€16,616▼ 58.8%€21,658▲ 30.3%€12,827▼ 40.8%€11,824▼ 7.8%€130,002▲ 999%€39,300▼ 69.8%
Working capital€18,718-€39,543▲ 111%€73,318within the sector's middle half▲ 85.4%€73,637within the sector's middle half▲ 0.4%€18,338within the sector's middle half▼ 75.1%€24,629within the sector's middle half▲ 34.3%€46,426within the sector's middle half▲ 88.5%€41,411within the sector's middle half▼ 10.8%
Solvency82.4%-49.5%▼ 32.9pp81.5%above the sector's middle half▲ 32.0pp77.3%above the sector's middle half▼ 4.2pp85.9%above the sector's middle half▲ 8.7pp86.9%above the sector's middle half▲ 1.0pp40.5%within the sector's middle half▼ 46.4pp72.1%above the sector's middle half▲ 31.6pp
Current ratio5.69-1.98▼ 3.715.42above the sector's middle half▲ 3.444.40above the sector's middle half▼ 1.022.43within the sector's middle half▼ 1.975.23above the sector's middle half▲ 2.801.41within the sector's middle half▼ 3.812.05within the sector's middle half▲ 0.64
Return on assets (ROA)51.5%-26.1%▼ 25.5pp37.5%above the sector's middle half▲ 11.5pp0.4%within the sector's middle half▼ 37.2pp5.2%within the sector's middle half▲ 4.8pp0.3%within the sector's middle half▼ 4.8pp4.5%within the sector's middle half▲ 4.2pp9.2%within the sector's middle half▲ 4.7pp
Staff (FTE)0.91within the sector's middle half▲ 11.1%1=1=
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 29% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The micro 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 €140,711
Fixed assets
€60,000 =
Current assets
€80,711 ▼ 49.1%
Equity and liabilities €140,711
Equity
€101,411 ▲ 14.7%
Debt
€39,300 ▼ 69.8%
Debt's share of the balance-sheet total falls from 59.5% to 27.9%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.39▼
2024 · 1.47
ROE
12.8%▲
2024 · 11.1%
Debt ≤ 1 year
€39,300▼
2024 · €112,002
Income taxes
€7,113▲
2024 · €5,300
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 |
|---|---|---|
| Employees at the balance-sheet date | 1 | 1 |
| full-time | 1 | 1 |
| in full-time equivalents | 1 | 1 |
| Average over the year, in full-time equivalents | 1 | 1 |
| On a permanent contract | 1 | 1 |
Source: social balance sheet in the 2021 to 2022 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Intangible fixed assets | - | €60,000 | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €160 | - | - | €18,135 | - |
| Remuneration, social security and pensions62 | - | - | - | €36,254 | €32,948 | €4,100 | €25 | - | - |
| Other operating charges640/8 | - | - | - | €403 | €7,819 | €506 | €387 | €400 | ▲ 3.2% |
| Non-recurring operating charges66A | - | - | - | - | €68 | - | - | - | - |
| Gross operating margin9900 | €16,008 | €54,714 | €72,521 | €38,047 | €49,009 | €6,619 | €16,853 | €21,678 | ▲ 28.6% |
| Operating profit (loss)9901 | €12,385 | €21,614 | €40,123 | €1,391 | €8,175 | €2,013 | €16,441 | €21,279 | ▲ 29.4% |
| Financial income75/76B | - | - | - | - | - | - | €104 | - | - |
| Recurring financial income75 | - | - | - | - | - | - | €104 | - | - |
| Financial charges65/66B | - | - | - | €764 | €1,195 | €1,625 | €1,447 | €1,180 | ▼ 18.5% |
| Recurring financial charges65 | €455 | €789 | €506 | €764 | €1,195 | €1,625 | €1,447 | €1,180 | ▼ 18.5% |
| Profit (loss) for the period before taxes9903 | €11,703 | €20,825 | €39,617 | €627 | €6,980 | €388 | €15,098 | €20,098 | ▲ 33.1% |
| Income taxes67/77 | - | - | €5,877 | €273 | €2,280 | €97 | €5,300 | €7,113 | ▲ 34.2% |
| Profit (loss) for the period9904 | €11,703 | €20,825 | €33,740 | €354 | €4,701 | €291 | €9,797 | €12,985 | ▲ 32.5% |
| Profit (loss) for the period to be appropriated9905 | €11,703 | €20,825 | €33,740 | €354 | €4,701 | €291 | €9,797 | €12,985 | ▲ 32.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €22,711 | €79,849 | €89,899 | €95,295 | €91,164 | €90,453 | €218,428 | €140,711 | ▼ 35.6% |
| Fixed assets21/28 | - | - | - | - | €60,000 | €60,000 | €60,000 | €60,000 | = |
| Intangible fixed assets21 | - | - | - | - | €60,000 | - | - | - | - |
| Tangible fixed assets22/27 | - | - | - | - | - | €60,000 | €60,000 | €60,000 | = |
| Land and buildings22 | - | - | - | - | - | €60,000 | €60,000 | €60,000 | = |
| Current assets29/58 | €22,711 | €79,849 | €89,899 | €95,295 | €31,164 | €30,453 | €158,428 | €80,711 | ▼ 49.1% |
| Stocks and contracts in progress3 | €8,003 | - | - | €20,393 | €1,895 | €12,199 | €5,124 | - | - |
| Stocks30/36 | - | - | - | - | - | €1,825 | €5,124 | - | - |
| Contracts in progress37 | - | - | - | €20,393 | €1,895 | €10,374 | - | - | - |
| Amounts receivable within one year40/41 | €1,896 | €78,436 | €34,649 | €10,395 | €4,878 | €12,516 | €38,743 | €33,170 | ▼ 14.4% |
| Trade receivables40 | - | - | - | €5,919 | €523 | €11,097 | €30,108 | €26,260 | ▼ 12.8% |
| Other amounts receivable41 | - | - | - | €4,476 | €4,355 | €1,419 | €8,635 | €6,910 | ▼ 20.0% |
| Cash at bank and in hand54/58 | €12,811 | €1,414 | €54,563 | €64,507 | €23,923 | €5,142 | €114,099 | €47,240 | ▼ 58.6% |
| Deferred charges and accrued income490/1 | - | - | - | - | €468 | €596 | €462 | €301 | ▼ 34.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €22,711 | €79,849 | €89,899 | €95,295 | €91,164 | €90,453 | €218,428 | €140,711 | ▼ 35.6% |
| Equity10/15 | €18,718 | €39,543 | €73,283 | €73,637 | €78,338 | €78,629 | €88,426 | €101,411 | ▲ 14.7% |
| Contributions10/11 | €61,500 | €61,500 | - | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | €1,750 | €1,750 | €1,750 | €1,750 | €1,750 | €1,750 | €9,950 | €22,935 | ▲ 130% |
| Non-distributable reserves130/1 | - | - | - | €1,750 | €1,750 | €1,750 | €1,750 | €1,750 | = |
| Reserves not available under the articles1311 | - | - | - | €1,750 | €1,750 | €1,750 | €1,750 | €1,750 | = |
| Distributable reserves133 | - | - | - | - | - | - | €8,200 | €21,185 | ▲ 158% |
| Profit (loss) carried forward14 | -€44,532 | -€23,707 | €10,033 | €10,387 | €15,087 | €15,378 | €16,976 | €16,976 | = |
| Amounts payable17/49 | €3,992 | €40,306 | €16,616 | €21,658 | €12,827 | €11,824 | €130,002 | €39,300 | ▼ 69.8% |
| Amounts payable within one year42/48 | €3,992 | €40,306 | €16,581 | €21,658 | €12,827 | €5,824 | €112,002 | €39,300 | ▼ 64.9% |
| Financial debts43 | - | - | - | €400 | - | - | - | - | - |
| Credit institutions430/8 | - | - | - | €400 | - | - | - | - | - |
| Trade debts44 | €3,992 | €12,339 | €10,704 | €15,108 | €10,371 | €3,808 | €106,390 | €26,710 | ▼ 74.9% |
| Suppliers440/4 | - | - | - | €15,108 | €10,371 | €3,808 | €106,390 | €26,710 | ▼ 74.9% |
| Taxes, remuneration and social security45 | - | - | - | €6,149 | €2,455 | €2,016 | €5,477 | €12,590 | ▲ 130% |
| Taxes450/3 | - | - | - | €6,149 | €2,248 | €2,016 | €5,477 | €12,590 | ▲ 130% |
| Remuneration and social security454/9 | - | - | - | - | €208 | - | - | - | - |
| Other amounts payable47/48 | - | - | - | - | - | - | €135 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €6,000 | €18,000 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,703 | €20,825 | €33,740 | €354 | €4,701 | €291 | €9,797 | €12,985 | ▲ 32.5% |
| Operating cash flow (approximation) | €11,703 | €20,825 | €33,740 | €354 | €4,701 | €291 | €9,797 | €12,985 | ▲ 32.5% |
| Investment in fixed assets (approximation) | - | - | - | - | - | €0 | €0 | €0 | - |
| Change in cash | - | -€11,398 | €53,150 | €9,944 | -€40,584 | -€18,781 | €108,957 | -€66,860 | - |
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, 34,693 companies had the same profile as Dicall Efficiency has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of Dicall Efficiency itself: 0.1% 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 34,693 companies, not a prediction for Dicall Efficiency. 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 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 08-06-2026 | 2026-00151739 | |
| 31-12-2024 | micro format | 11-07-2025 | 2025-00265764 | |
| 31-12-2023 | micro format | 11-06-2024 | 2024-00125022 | |
| 31-12-2022 | micro format | 13-06-2023 | 2023-00127022 | |
| 31-12-2021 | micro format | 23-06-2022 | 2022-20097552 | |
| 31-12-2020 | micro format | 01-07-2021 | 2021-28900116 | |
| 31-12-2019 | micro format | 23-07-2020 | 2020-33000188 | |
| 31-12-2018 | micro format | 08-07-2019 | 2019-30000105 | |
| 31-12-2017 | micro format | 20-08-2018 | 2018-46900307 | |
| 31-12-2016 | micro format | 25-08-2017 | 2017-47800179 |