DISTIMMO
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 29-01-2026 PDF all 48 filings
Turnover
≈ €910,000
Estimated: probably between €700,000 and €1.5m
Total assets
€17.6m▲ 190%
2024 · €6.1m
Net result
-€84,230▲ 31.8%
2024 · -€123,435
Working capital
-€3.2m▼ 6.6%
2024 · -€3.0m
In the rankings
#4 oldest company in Ostend, Real estate sector
Multi-year overview
2018 to 2025, 7 financial yearsOperating result
€30,206
2025
20182025
Net result
-€84,230
▲ 31.8%
2025
lowest quarter of the sector
20182025
Equity
€7.7m
▲ 847%
2025
highest quarter of the sector
20182025
Total assets
€17.6m
▲ 190%
2025
highest quarter of the sector
20182025
Debt
€9.9m
▲ 88.5%
2025
20182025
Working capital
-€3.2m
▼ 6.6%
2025
lowest quarter of the sector
20182025
Solvency
43.8%
▲ 30.4pp
2025
middle half of the sector
20182025
Current ratio
0.46
▲ 0.40
2025
middle half of the sector
20182025
Return on assets (ROA)
-0.5%
▲ 1.5pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202320242025
Operating result-€0.005m-€0.3m€0.1m▼ 55.5%€0.06m▼ 50.5%€0.1m--€0.003m€0.03m
Net result-€0.04m-€0.2m€0.05mwithin the sector's middle half▼ 73.6%-€0.002mwithin the sector's middle half€0.02mwithin the sector's middle half--€0.1mbelow the sector's middle half-€0.08mbelow the sector's middle half▲ 31.8%
Equity€0.7m-€0.9m▲ 27.9%€0.9mwithin the sector's middle half▲ 5.8%€0.9mabove the sector's middle half▼ 0.2%€0.9mabove the sector's middle half-€0.8mabove the sector's middle half▼ 13.1%€7.7mabove the sector's middle half▲ 847%
Total assets€4.4m-€4.2m▼ 4.5%€4.0mwithin the sector's middle half▼ 5.0%€5.0mabove the sector's middle half▲ 24.2%€5.5mabove the sector's middle half-€6.1mabove the sector's middle half▲ 9.8%€17.6mabove the sector's middle half▲ 190%
Debt€3.7m-€3.3m▼ 11.5%€3.0m▼ 7.9%€4.0m▲ 32.1%€4.6m-€5.2m▲ 14.6%€9.9m▲ 88.5%
Working capital-€0.5m--€0.3m▲ 48.2%-€0.3mbelow the sector's middle half▼ 0.5%-€1.1mbelow the sector's middle half▼ 298%-€1.6mbelow the sector's middle half--€3.0mbelow the sector's middle half▼ 87.0%-€3.2mbelow the sector's middle half▼ 6.6%
Solvency15.5%-20.8%▲ 5.3pp23.1%within the sector's middle half▲ 2.4pp18.6%within the sector's middle half▼ 4.6pp16.9%within the sector's middle half-13.4%within the sector's middle half▼ 3.5pp43.8%within the sector's middle half▲ 30.4pp
Current ratio0.37-0.55▲ 0.180.54within the sector's middle half▼ 0.010.32below the sector's middle half▼ 0.220.26below the sector's middle half-0.05below the sector's middle half▼ 0.200.46within the sector's middle half▲ 0.40
Return on assets (ROA)-0.9%-4.5%▲ 5.4pp1.3%within the sector's middle half▼ 3.3pp0.0%within the sector's middle half▼ 1.3pp0.3%within the sector's middle half--2.0%within the sector's middle half▼ 2.3pp-0.5%within the sector's middle half▲ 1.5pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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 a profit of €30,206, after a loss of €3,239 in 2024.
Large changes and their cause
- 2025 Equity +847%, Total assets +190% on 2024. Capital increase of €6,990,735 (Official Gazette 09-01-2025).
Turnover and EBIT margin are not published. The abbreviated or 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 €17.6m
Fixed assets
€15.0m ▲ 153%
Current assets
€2.7m ▲ 16×
Equity and liabilities €17.6m
Equity
€7.7m ▲ 847%
Provisions
€29,147 ▼ 6.9%
Debt
€9.9m ▲ 88.5%
Debt's share of the balance-sheet total falls from 86.1% to 56.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€497,123▲
2024 · €237,889
Cash flow
€382,687▲
2024 · €117,693
Quick ratio
0.45▲
2024 · 0.04
Debt to equity
1.28▼
2024 · 6.43
ROE
-1.1%▲
2024 · -15.1%
Interest coverage
3.34▲
2024 · 1.61
Debt ≤ 1 year
€5.8m▲
2024 · €3.1m
Debt > 1 year
€4.1m▲
2024 · €2.1m
Income taxes
€2,160▲
2024 · €0
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €558,933 | €868,321 | €978,859 | €9.5m |
| Financial fixed assets | €375,026 | - | €374,974 | - |
| Depreciation and write-downs of the year | €171,866 | €293,624 | €241,128 | €466,918 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0 | - | - | €71,197 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €125,619 | €155,735 | €155,186 | €171,866 | €293,624 | €241,128 | €466,918 | ▲ 93.6% |
| Other operating charges640/8 | - | - | - | €995 | €11,533 | €25,100 | €21,204 | ▼ 15.5% |
| Gross operating margin9900 | €133,565 | €451,014 | €286,751 | €237,439 | €423,851 | €262,990 | €518,327 | ▲ 97.1% |
| Operating profit (loss)9901 | -€4,726 | €293,639 | €130,572 | €64,578 | €118,694 | -€3,239 | €30,206 | - |
| Financial income75/76B | - | - | - | €6,958 | €33,782 | €25,461 | €34,189 | ▲ 34.3% |
| Recurring financial income75 | €0 | €432 | €40 | €6,958 | €33,782 | €25,461 | €34,189 | ▲ 34.3% |
| Financial charges65/66B | - | - | - | €69,447 | €130,788 | €147,817 | €148,624 | ▲ 0.5% |
| Recurring financial charges65 | €23,898 | €52,179 | €61,464 | €69,447 | €130,788 | €147,817 | €148,624 | ▲ 0.5% |
| Profit (loss) for the period before taxes9903 | -€28,624 | €241,892 | €69,148 | €2,089 | €21,688 | -€125,594 | -€84,230 | ▲ 32.9% |
| Transfer from deferred taxes780 | - | - | - | €2,159 | €3,038 | €2,159 | €2,159 | = |
| Income taxes67/77 | €10,000 | €9,387 | €21,864 | €6,175 | €8,459 | €0 | €2,160 | - |
| Profit (loss) for the period9904 | -€38,624 | €190,718 | €50,408 | -€1,927 | €16,266 | -€123,435 | -€84,230 | ▲ 31.8% |
| Transfer from tax-exempt reserves789 | - | - | - | €41,417 | €9,112 | €6,477 | €6,477 | = |
| Profit (loss) for the period to be appropriated9905 | -€38,624 | €65,061 | €60,080 | €39,490 | €25,378 | -€116,958 | -€77,753 | ▲ 33.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €4.4m | €4.2m | €4.0m | €5.0m | €5.5m | €6.1m | €17.6m | ▲ 190% |
| Formation expenses20 | - | - | - | - | - | - | €0.003m | - |
| Fixed assets21/28 | €4.1m | €3.9m | €3.7m | €4.4m | €5.0m | €5.9m | €15.0m | ▲ 153% |
| Tangible fixed assets22/27 | €4.1m | €3.9m | €3.7m | €4.1m | €4.6m | €5.2m | €14.2m | ▲ 175% |
| Land and buildings22 | - | - | - | €3.9m | €4.5m | €5.1m | €14.1m | ▲ 177% |
| Plant, machinery and equipment23 | - | - | - | €0.1m | €0.09m | €0.08m | €0.1m | ▲ 58.8% |
| Financial fixed assets28 | - | - | - | €0.4m | €0.4m | €0.8m | €0.8m | = |
| Current assets29/58 | €0.3m | €0.3m | €0.3m | €0.5m | €0.5m | €0.2m | €2.7m | ▲ 16× |
| Amounts receivable after more than one year29 | - | - | - | €0.4m | €0.4m | €0 | - | - |
| Other amounts receivable291 | - | - | - | €0.4m | €0.4m | €0 | - | - |
| Stocks and contracts in progress3 | €0.3m | €0.3m | €0.3m | €0.07m | €0.05m | €0.05m | €0.05m | = |
| Stocks30/36 | - | - | - | €0.07m | €0.05m | €0.05m | €0.05m | = |
| Amounts receivable within one year40/41 | - | €0.03m | €0.02m | €0.08m | €0.1m | €0.1m | €0.06m | ▼ 36.9% |
| Trade receivables40 | - | - | - | €0 | €0.02m | €0.04m | €0.06m | ▲ 38.6% |
| Other amounts receivable41 | - | - | - | €0.08m | €0.08m | €0.06m | €0.006m | ▼ 90.1% |
| Current investments50/53 | - | - | - | - | - | - | €2.5m | - |
| Cash at bank and in hand54/58 | €223 | €0.001m | €0.001m | €0.002m | €0.002m | €0.003m | €0.04m | ▲ 14× |
| Deferred charges and accrued income490/1 | - | - | - | €0.005m | €0.006m | €0.01m | €0.008m | ▼ 45.0% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €4.4m | €4.2m | €4.0m | €5.0m | €5.5m | €6.1m | €17.6m | ▲ 190% |
| Equity10/15 | €0.7m | €0.9m | €0.9m | €0.9m | €0.9m | €0.8m | €7.7m | ▲ 847% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €7.1m | ▲ 112× |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €7.1m | ▲ 112× |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €7.1m | ▲ 112× |
| Reserves13 | €0.7m | €0.8m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | ▼ 0.7% |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Legal reserve130 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Tax-exempt reserves132 | - | - | - | €0.1m | €0.1m | €0.09m | €0.09m | ▼ 6.9% |
| Distributable reserves133 | - | - | - | €0.7m | €0.8m | €0.8m | €0.8m | = |
| Profit (loss) carried forward14 | -€0.04m | - | - | - | - | -€0.1m | -€0.2m | ▼ 66.5% |
| Provisions and deferred taxes16 | - | €0.04m | €0.04m | €0.04m | €0.03m | €0.03m | €0.03m | ▼ 6.9% |
| Deferred taxes168 | - | - | - | €0.04m | €0.03m | €0.03m | €0.03m | ▼ 6.9% |
| Amounts payable17/49 | €3.7m | €3.3m | €3.0m | €4.0m | €4.6m | €5.2m | €9.9m | ▲ 88.5% |
| Amounts payable after more than one year17 | €2.8m | €2.7m | €2.4m | €2.3m | €2.4m | €2.1m | €4.1m | ▲ 93.0% |
| Financial debts170/4 | - | - | - | €2.3m | €2.4m | €2.1m | €4.1m | ▲ 93.0% |
| Amounts payable within one year42/48 | €0.9m | €0.6m | €0.6m | €1.7m | €2.1m | €3.1m | €5.8m | ▲ 85.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.3m | €0.3m | €0.3m | €0.5m | ▲ 63.1% |
| Financial debts43 | - | - | - | €0.006m | €0 | - | - | - |
| Credit institutions430/8 | - | - | - | €0.006m | €0 | - | - | - |
| Trade debts44 | €0.01m | €0.001m | €0.02m | €0.03m | €0.06m | €0.1m | €0.1m | ▼ 7.0% |
| Suppliers440/4 | - | - | - | €0.03m | €0.06m | €0.1m | €0.1m | ▼ 7.0% |
| Advances received on contracts in progress46 | - | - | - | - | - | €0.001m | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.01m | €0 | €0.001m | - |
| Taxes450/3 | - | - | - | €0.02m | €0.01m | €0 | €0.001m | - |
| Other amounts payable47/48 | - | - | - | €1.3m | €1.7m | €2.7m | €5.1m | ▲ 93.8% |
| Accrued charges and deferred income492/3 | - | - | - | €0.009m | €0.01m | €0.01m | €0.009m | ▼ 14.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.04m | €0.2m | €0.05m | -€0.002m | €0.02m | -€0.1m | -€0.08m | ▲ 31.8% |
| + Depreciation and write-downs630 | €0.1m | €0.2m | €0.2m | €0.2m | €0.3m | €0.2m | €0.5m | ▲ 93.6% |
| Operating cash flow (approximation) | €0.09m | €0.3m | €0.2m | €0.2m | €0.3m | €0.1m | €0.4m | ▲ 225% |
| Investment in fixed assets (approximation) | - | €0.06m | €0.04m | -€0.9m | - | -€1.2m | -€9.5m | ▼ 721% |
| Change in cash | - | €0.001m | €361 | €372 | - | €0.001m | €0.04m | ▲ 61× |
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, 830 companies had the same profile as DISTIMMO has now. Two years later, 96.5% were still going and 0.6% had gone bankrupt.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a small loss
96.5%
was still going
2.9%
stopped otherwise
0.6%
went bankrupt
That fits the bankruptcy probability of DISTIMMO itself: 0.3% 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 830 companies, not a prediction for DISTIMMO. 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 48 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 29-01-2026 | 2026-00023040 | |
| 30-06-2024 | micro format | 07-01-2025 | 2025-00003024 | |
| 30-06-2023 | micro format | 29-01-2024 | 2024-00017767 | |
| 31-12-2021 | micro format | 25-07-2022 | 2022-20224061 | |
| 31-12-2020 | abbreviated format | 26-07-2021 | 2021-39700478 | |
| 31-12-2019 | abbreviated format | 31-07-2020 | 2020-38200030 | |
| 31-12-2018 | abbreviated format | 09-07-2019 | 2019-30400448 | |
| 31-12-2017 | abbreviated format | 31-07-2018 | 2018-41100470 | |
| 31-12-2016 | abbreviated format | 31-07-2017 | 2017-39400311 | |
| 31-12-2015 | abbreviated format | 29-07-2016 | 2016-37600103 |