DIFF
ActiveSummary
DIFF has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.6m and a net result of -€823,089. Equity is growing by ~30.5% per year across the filed fiscal years. Its solvency ranks better than 34% of 4813 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability10▼-60
Solvency40▼-26
Growth35▼-43
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €70,000 at 30 days only on tighter terms
Liquidity tight (current ratio 1.22 against 1.61 in 2023; short-term debt: 66.1% and cash: 6.6% of total assets), and 85.4% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
14.6%
Return on assets
-7.5%
Age of the figures
21 mo
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 06-11-2025, 98 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
98 d late
2023
12 d early
2022
29 d late
2021
31 d late
2020
24 d late
2019
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 34 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
In the rankings
#9 company by total assets in Merchtem, Real estate sector
Turnover
€15.2m▼ 17.7%
2023 · €18.5m
EBIT margin
-3.0%▼ 10.4pp
2023 · 7.4%
Net result
-€823,089
2023 · €771,748
Working capital
€1.6m▼ 46.4%
2023 · €2.9m
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
Line20202021202220232024
Turnover€18.5m€15.2m▼ 17.7%
Operating result€306,852▼ 37.1%€636,165▲ 107%€1.4m▲ 123%€1.4m▼ 3.3%-€456,709
Net result€145,753▼ 52.7%€424,040▲ 191%€795,157▲ 87.5%€771,748▼ 2.9%-€823,089
EBIT margin7.4%-3.0%▼ 10.4pp
Equity€1.9m▲ 39.5%€2.4m▲ 22.0%€3.1m▲ 33.8%€4.0m▲ 27.7%€1.6m▼ 60.3%
Total assets€17.0m▲ 363%€22.8m▲ 34.4%€34.3m▲ 50.5%€9.8m▼ 71.5%€10.9m▲ 11.5%
Debt€15.0m▲ 560%€20.5m▲ 36.0%€31.2m▲ 52.4%€5.8m▼ 81.5%€9.3m▲ 61.6%
Working capital€3.4m▲ 79.1%€2.0m▼ 42.2%€1.9m▼ 1.4%€2.9m▲ 48.6%€1.6m▼ 46.4%
Staff (FTE)1.1▲ 37.5%2.3▲ 109%2.9▲ 26.1%3▲ 3.4%3=
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €456,709 after €1.4m in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €10.9m
Fixed assets
€2.1m ▼ 1.3%
Current assets
€8.8m ▲ 15.2%
Equity and liabilities €10.9m
Equity
€1.6m ▼ 60.3%
Debt
€9.3m ▲ 61.6%
Debt's share of the balance-sheet total rises from 58.9% to 85.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€332,300▼
2023 · €1.5m
Cash flow
-€698,680▼
2023 · €918,212
Current ratio
1.22▼
2023 · 1.61
Quick ratio
0.45▲
2023 · 0.31
Debt to equity
5.84▲
2023 · 1.43
ROE
-51.6%▼
2023 · 19.2%
ROA
-7.5%▼
2023 · 7.9%
Interest coverage
-2.12▼
2023 · 14.35
Debt ≤ 1 year
€7.2m▲
2023 · €4.7m
Debt > 1 year
€2.1m▲
2023 · €1.0m
Income taxes
€6,898▼
2023 · €287,381
Staff costs
€282,467▲
2023 · €280,281
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €21.5m | €14.7m | ▼ 31.9% |
| Turnover70 | - | - | - | €18.5m | €15.2m | ▼ 17.7% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | €3.0m | -€607,948 | ▼ 120% |
| Other operating income74 | - | - | - | €12,900 | €24,342 | ▲ 88.7% |
| Non-recurring operating income76A | - | - | - | - | €4,718 | - |
| Operating charges60/66A | - | - | - | €20.1m | €15.1m | ▼ 25.0% |
| Goods for resale, raw materials and consumables60 | - | - | - | €19.1m | €14.0m | ▼ 26.5% |
| Purchases600/8 | - | - | - | €19.1m | €14.0m | ▼ 26.5% |
| Services and other goods61 | - | - | - | €600,992 | €649,231 | ▲ 8.0% |
| Remuneration, social security and pensions62 | - | €210,553 | €267,981 | €280,281 | €282,467 | ▲ 0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,853 | €92,673 | €143,668 | €146,464 | €124,409 | ▼ 15.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €0 | - | - | - | - |
| Other operating charges640/8 | - | €8,231 | €35,351 | €8,211 | €6,511 | ▼ 20.7% |
| Non-recurring operating charges66A | - | - | - | €16,109 | €5,746 | ▼ 64.3% |
| Gross operating margin9900 | €432,162 | €947,623 | €1.9m | - | - | - |
| Operating profit (loss)9901 | €306,852 | €636,165 | €1.4m | €1.4m | -€456,709 | ▼ 133% |
| Financial income75/76B | - | €2,372 | €6,239 | €3,740 | €450 | ▼ 88.0% |
| Recurring financial income75 | €7,044 | €2,372 | €6,239 | €3,740 | €450 | ▼ 88.0% |
| Income from current assets751 | - | - | - | €4 | €16 | ▲ 335% |
| Other financial income752/9 | - | - | - | €3,736 | €433 | ▼ 88.4% |
| Financial charges65/66B | - | €213,274 | €321,805 | €317,317 | €359,932 | ▲ 13.4% |
| Recurring financial charges65 | €109,407 | €213,274 | €321,805 | €317,317 | €359,932 | ▲ 13.4% |
| Debt charges650 | - | - | - | €105,877 | €156,777 | ▲ 48.1% |
| Other financial charges652/9 | - | - | - | €211,440 | €203,155 | ▼ 3.9% |
| Profit (loss) for the period before taxes9903 | €204,489 | €425,263 | €1.1m | €1.1m | -€816,192 | ▼ 177% |
| Income taxes67/77 | €58,737 | €1,222 | €308,873 | €287,381 | €6,898 | ▼ 97.6% |
| Taxes670/3 | - | - | - | €299,275 | €6,921 | ▼ 97.7% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €11,893 | €23 | ▼ 99.8% |
| Profit (loss) for the period9904 | €145,753 | €424,040 | €795,157 | €771,748 | -€823,089 | ▼ 207% |
| Transfer to tax-exempt reserves689 | - | - | - | - | €210,500 | - |
| Profit (loss) for the period to be appropriated9905 | €145,753 | €424,040 | €795,157 | €771,748 | -€1.0m | ▼ 234% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €17.0m | €22.8m | €34.3m | €9.8m | €10.9m | ▲ 11.5% |
| Fixed assets21/28 | €89,174 | €2.4m | €2.3m | €2.2m | €2.1m | ▼ 1.3% |
| Intangible fixed assets21 | €13,196 | €9,161 | €5,126 | €5,007 | €18,077 | ▲ 261% |
| Tangible fixed assets22/27 | €7,723 | €2.3m | €2.3m | €2.2m | €2.1m | ▼ 1.9% |
| Land and buildings22 | - | €2.3m | €2.2m | €2.1m | €2.0m | ▼ 4.4% |
| Plant, machinery and equipment23 | - | €18,654 | €23,880 | €16,169 | €8,769 | ▼ 45.8% |
| Furniture and vehicles24 | - | €54,221 | €88,454 | €62,650 | €122,062 | ▲ 94.8% |
| Other tangible fixed assets26 | - | €3,512 | €3,512 | €3,512 | €3,512 | = |
| Financial fixed assets28 | €68,255 | €805 | €805 | €805 | €805 | = |
| Other financial fixed assets284/8 | - | - | - | €805 | €805 | = |
| Amounts receivable and cash guarantees285/8 | - | - | - | €805 | €805 | = |
| Current assets29/58 | €16.9m | €20.4m | €32.0m | €7.6m | €8.8m | ▲ 15.2% |
| Stocks and contracts in progress3 | €15.1m | €16.6m | €28.7m | €6.1m | €5.5m | ▼ 9.9% |
| Contracts in progress37 | - | €16.6m | €28.7m | €6.1m | €5.5m | ▼ 9.9% |
| Amounts receivable within one year40/41 | €1.5m | €2.4m | €794,091 | €255,652 | €2.4m | ▲ 852% |
| Trade receivables40 | - | €2.4m | €792,583 | €254,145 | €2.3m | ▲ 798% |
| Other amounts receivable41 | - | €5,408 | €1,507 | €1,507 | €151,671 | ▲ 9,961% |
| Cash at bank and in hand54/58 | €258,950 | €1.5m | €2.5m | €1.2m | €720,185 | ▼ 40.4% |
| Deferred charges and accrued income490/1 | - | €5,322 | €14,686 | €11,759 | €88,034 | ▲ 649% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €17.0m | €22.8m | €34.3m | €9.8m | €10.9m | ▲ 11.5% |
| Equity10/15 | €1.9m | €2.4m | €3.1m | €4.0m | €1.6m | ▼ 60.3% |
| Contributions10/11 | - | €1.2m | €1.2m | €1.3m | €1.3m | = |
| Reserves13 | €304,782 | €1.2m | €2.0m | €2.7m | €326,612 | ▼ 88.1% |
| Non-distributable reserves130/1 | - | €13,000 | €13,000 | €13,000 | €13,000 | = |
| Reserves not available under the articles1311 | - | €13,000 | €13,000 | €13,000 | €13,000 | = |
| Tax-exempt reserves132 | - | - | - | - | €210,500 | - |
| Distributable reserves133 | - | €1.2m | €2.0m | €2.7m | €103,112 | ▼ 96.2% |
| Profit (loss) carried forward14 | €453,974 | €0 | - | - | - | - |
| Amounts payable17/49 | €15.0m | €20.5m | €31.2m | €5.8m | €9.3m | ▲ 61.6% |
| Amounts payable after more than one year17 | €1.6m | €2.0m | €1.1m | €1.0m | €2.1m | ▲ 102% |
| Financial debts170/4 | - | €2.0m | €1.1m | €1.0m | €2.1m | ▲ 102% |
| Credit institutions173 | - | - | - | €1.0m | €2.1m | ▲ 102% |
| Amounts payable within one year42/48 | €13.5m | €18.5m | €30.0m | €4.7m | €7.2m | ▲ 53.1% |
| Current portion of amounts payable after more than one year42 | - | €72,341 | €73,424 | €74,522 | €267,431 | ▲ 259% |
| Financial debts43 | - | €0 | €200,000 | €0 | €2.0m | - |
| Credit institutions430/8 | - | €0 | €200,000 | €0 | €2.0m | - |
| Trade debts44 | €811,378 | €1.9m | €1.7m | €1.6m | €2.4m | ▲ 50.4% |
| Suppliers440/4 | - | €1.9m | €1.7m | €1.6m | €2.4m | ▲ 50.4% |
| Advances received on contracts in progress46 | - | €14.3m | €25.5m | €0 | - | - |
| Taxes, remuneration and social security45 | - | €542,528 | €903,030 | €1.0m | €75,071 | ▼ 92.6% |
| Taxes450/3 | - | €533,617 | €873,429 | €977,729 | €40,801 | ▼ 95.8% |
| Remuneration and social security454/9 | - | €8,911 | €29,601 | €35,748 | €34,270 | ▼ 4.1% |
| Other amounts payable47/48 | - | €1.7m | €1.6m | €2.0m | €2.4m | ▲ 21.4% |
| Accrued charges and deferred income492/3 | - | €18,067 | €29,591 | €32,549 | €43,494 | ▲ 33.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €145,753 | €424,040 | €795,157 | €771,748 | -€823,089 | ▼ 207% |
| + Depreciation and write-downs630 | €3,853 | €92,673 | €143,668 | €146,464 | €124,409 | ▼ 15.1% |
| Operating cash flow (approximation) | €149,606 | €516,713 | €938,824 | €918,212 | -€698,680 | ▼ 176% |
| Investment in fixed assets (approximation) | - | -€2.4m | -€111,703 | €112 | -€97,139 | ▼ 87,080% |
| Change in cash | - | €1.2m | €1.0m | -€1.3m | -€489,158 | ▲ 61.9% |
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
2025
06-11
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 98 days late
2024
31-12
Financial
Weakest financial yearnet -€823,089
Net result drops to -€823,089, the lowest in the series.
19-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 29 days late
2022
31-12
Financial
Highest result since 2018net €795,157 ▲87.5%
Operating result €1.4m, net result €795,157, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Equity above €2mEq €2.4m ▲22%
4 profitable years in a row build equity to €2.4m.
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 24 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 31 days late
2019
31-12
Financial
Equity above €1mEq €1.4m ▲58.2%
2 profitable years in a row build equity to €1.4m.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 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
9 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, Merchtem · 1 establishment unit since 2010
Ground area
1,631 m²
Building footprint
100 m²
Volume, LiDAR
750 m³
Parcel 23602K0143/00M002, Flanders · tallest building 11.0 m, ±3 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
DIFF
since 20102.193.199.692
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23602K0143/00M002 | Flanders | 1,631 m² | 1 · 100 m² | 10.9 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.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 150 EUR awarded · 150 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 150 EUR | 150 EUR |
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Of 9,698 companies in sector 68121 we hold annual accounts for 7,385. 3,295 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
Founded21-09-2010
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
Contact
Website
www.diff.be
E-mail
info@diff.be
Scores and ratios are computed by Checked and are not a credit decision.