Active BE 0841.936.541Private limited company

DIRMAR

Heuvelstraat(Moe) 100 ·9500 Geraardsbergen, Belgium· 14 yrs active

Sector: General construction of residential buildings (41001)

Conclusion Checked

DIRMAR has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €92k and a net result of €25k. Equity is growing by ~29.6% per year across the filed fiscal years. Its solvency ranks better than 62% of 7107 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).

Based on the State Gazette, CBE and 6 annual accounts.

Key figures

Equity	€92k
Net result	€25k
Better than sector	62%
Active	14 yrs

Financial profile 5 of 5 axes measured · computed by Checked

91 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 96

Profitability 100

Solvency 83

Growth 78

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.7% Low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Established

Founded in 2011, 14 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2025 · computed

96 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€9k

estimate, not credit advice

Score history

45 2020

43 2021

48 2022

89 2023

61 2024

96 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 1.38 (≥ 1.0) +5

Quick ratio Quick ratio 1.27 (≥ 1.0) +5

Leverage Debt/equity 0.81 (< 1.0) +10

Profitability ROE 27% (≥ 10%) +10

Interest coverage Interest coverage 612.6× (≥ 3×) +8

Profit trend Net profit up YoY +5

Equity growth Equity growing YoY +3

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview14 NBB filings

Annual accounts filed on 31-07-2026 with the NBB · fiscal year 2025 · micro schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~29.6%/year over 6 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 41, Construction of residential and non-residential buildings · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	55.3%	43.8%	better than 62% of 7107 sector peers
Net result	€25k	€8k	better than 74% of 7101 sector peers
Equity	€92k	€48k	better than 68% of 7112 sector peers
Gross operating margin	€61k	€32k	better than 67% of 7097 sector peers
Staff costs	€1k	€34k	higher than 22% of 2357 sector peers

EBITDA

€58k

+36.0% 20-25

Net profit

€25k

+235.0% 20-25

Cash flow

€49k

+26.6% 20-25

Total assets

€166k

+18.6% 20-25

Equity

€92k

+37.9% 20-25

Working capital

€28k

- 20-25

Staff costs

€1k

+19.3% 20-25

Income taxes

€9k

+258.8% 20-25

Debt

€74k

+1.1% 20-25

Debt ≤ 1y

€74k

+1.1% 20-25

Debt > 1y

€7k

-69.4% 20-25

Current ratio

1.38

+53.3% 20-25

Quick ratio

1.27

+83.2% 20-25

Solvency

55.3%

+16.3% 20-25

Debt / equity

0.81

-26.7% 20-25

ROE

27.5%

+142.9% 20-25

ROA

15.2%

+182.4% 20-25

Interest coverage

612.63

+1824.5% 20-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023	2022	2021
Deposit	micro schema	micro schema	micro schema	micro schema	micro schema
Revenue	-	-	-	-	-
EBITDA	€58k	€42k	€60k	€40k	€57k
Net profit	€25k	€8k	€22k	€5k	€7k
Cash flow	€49k	€39k	€53k	€38k	€51k
Staff costs	€1k	-	€1k	€2k	€949
Income taxes	€9k	€2k	€6k	€2k	€5k
Dividends	-	-	-	-	-
Total assets	€166k	€140k	€137k	€158k	€233k
Equity	€92k	€67k	€59k	€37k	€32k
Debt	€74k	€74k	€78k	€121k	€200k
of which ≤ 1y	€74k	€74k	€70k	€97k	€160k
of which > 1y	-	-	€7k	€23k	€40k
Working capital	€28k	€-7k	€21k	€-31k	€-78k
Employees (FTE)	-	-	-	-	-

Ratios (computed)

	2025	2024	2023	2022	2021
Current ratio	1.38	0.90	1.30	0.68	0.51
Quick ratio	1.27	0.69	1.25	0.64	0.46
Working capital ratio	17.0%	-5.2%	15.6%	-19.6%	-33.4%
Solvency	55.3%	47.5%	43.2%	23.7%	14.0%
Debt / equity	0.81	1.10	1.31	3.22	6.17
Long-term debt ratio	-	-	0.12	0.63	1.23
Interest coverage	612.63	31.83	99.76	669.15	40.11
Gross margin	-	-	-	-	-
Net margin	-	-	-	-	-
ROA	15.2%	5.4%	15.9%	3.1%	3.1%
ROE	27.5%	11.3%	36.8%	13.2%	22.4%
EBITDA margin	-	-	-	-	-
Days sales outstanding	-	-	-	-	-
Days payable outstanding	-	-	-	-	-
Inventory turnover	-	-	-	-	-
Days inventory (DSI)	-	-	-	-	-

Balance-sheet composition 2025

Assets

Fixed assets €64k · 38.3% Current assets €103k · 61.7%

Equity & liabilities

Equity €92k · 55.3% Debt €74k · 44.7%

Full annual accounts (25 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022	2021
Balance sheet, Assets
TOTAL ASSETS	20/58	€166k	€140k	€137k	€158k	€233k
Fixed assets	21/28	€64k	€74k	€45k	€92k	€150k
Tangible fixed assets	22/27	€64k	€74k	€45k	€92k	€150k
Financial fixed assets	28	€200	€200	-	-	-
Current assets	29/58	€103k	€66k	€92k	€66k	€82k
Stocks & contracts in progress	3	€8k	€15k	€4k	€4k	€9k
Amounts receivable within one year	40/41	€58k	€26k	€29k	€6k	€46k
Cash & bank	54/58	€35k	€23k	€58k	€55k	€27k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€166k	€140k	€137k	€158k	€233k
Equity	10/15	€92k	€67k	€59k	€37k	€32k
Contributions / capital	10/11	€6k	€6k	€6k	€6k	€6k
Reserves	13	€2k	€2k	€2k	€2k	€2k
Accumulated profits (losses)	14	€84k	€59k	€51k	€29k	€24k
Amounts payable	17/49	€74k	€74k	€78k	€121k	€200k
Amounts payable after one year	17	-	-	€7k	€23k	€40k
Amounts payable within one year	42/48	€74k	€74k	€70k	€97k	€160k
Trade debts payable within one year	44	€2k	€15k	€9k	€865	€25k
Income statement
Gross operating margin	9900	€61k	€44k	€62k	€43k	€60k
Operating result	9901	€34k	€11k	€28k	€7k	€14k
Financial income	75	€0	€0	-	-	-
Financial charges	65	€94	€1k	€597	€60	€1k
Result before taxes	9903	€34k	€10k	€28k	€7k	€12k
Income taxes	67/77	€9k	€2k	€6k	€2k	€5k
Net result for the period	9904	€25k	€8k	€22k	€5k	€7k
Result to be appropriated	9905	€25k	€8k	€22k	€5k	€7k

Directors & mandates 2 directors

Current directors & mandates

Dirk D’HOE
Director
State Gazette act 24374181 (08-03-2024)

Current
08-03-2024 → present
2 events
- 08-03-2024 Resigned· Director
- 08-03-2024 Appointed· Director
Glenn D’HOE
Director
State Gazette act 24374181 (08-03-2024)

Current
08-03-2024 → present
2 events
- 08-03-2024 Resigned· Director
- 08-03-2024 Appointed· Director

Legal Structure

NACE primary	General construction of residential buildings(41001)
Legal form	Private limited company(610)
Incorporation	19-12-2011
Status	Active
Postal code	9500

Establishment units 1 location

DIRMAR

Heuvelstraat(Moe) 100, 9500 GeraardsbergenManufacture of electrical equipment

since 20112.205.400.809

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
41041A0350/00C003	Flanders	2,412 m²	1 · 180 m²	10.2 m · 2 fl.

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 11 events

All 13Financial 2Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

31-07

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

31-12

Financial Highest result since 2020net €25k ▲235%

Operating result €34k, net result €25k, both a record.

28-08

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 28 days late

2024

17-07

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

08-03

State Gazette act Director changes

Paul De Man

2023

30-08

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 30 days late

2022

31-12

Financial Weakest financial yearnet €5k ▼32%

Net result drops to €5k, the lowest in the series; recovery starts the following year.

16-08

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 16 days late

2021

23-08

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 23 days late

2020

24-07

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2019

05-07

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

2018

29-06

NBB filing Annual accounts filed

fiscal year 2017 · micro schema

2017

30-06

NBB filing Annual accounts filed

fiscal year 2016 · micro schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 3 acts read

We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 2 years ago

2024

08-03-2024 2 directors appointed, 2 resigning Director changes·Paul De Man

Dirk D’HOE, Bestuurder
Glenn D’HOE, Bestuurder
Dirk D’HOE, Bestuurder
Glenn D’HOE, Bestuurder

Notary: Paul De Man · Geraardsbergen

Original publication ↗

Technical details

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Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

General construction of residential buildings41001Other personal services96999

Names & trade names

Legal nameNL

DIRMAR

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