Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
Every financial year from 2022 to 2025 closed with a loss. 2024 was the heaviest.
Lower solvency than 95% of companies in real estate. Sector median 28.9% · 17,190 companies.
Negative equity caps the score at 59.
The dashed line is the sector median: 0.2% across 26,625 companies (NACE 68, micro).
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 5% of them on solvency, 49% on liquidity, 4% on profitability and 32% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 6,619 companies had the same profile as DIVIMO has now. Each dot stands for 17 companies, two years later.
Another 1.0% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of DIVIMO itself is lower: 0.5% within 12 months. It rests on far more data about DIVIMO than the profile alone.
The method was tested on the 497,447 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 6,619 companies, not a prediction for DIVIMO. 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.
The balance sheet total is too small for a liquidity verdict. Equity is negative.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 21 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| DIVIMO Sint-Genesius-Rode | €855 | -€781 | -2505.9% | - |
| de KERCHOVE Schaerbeek | €810 | -€288 | -96.5% | - |
| LIEVAN Boortmeerbeek | €1,270 | -€642 | -8396.7% | - |
| GOWY Brakel | €693 | €1,079 | -2466.9% | - |
| IMMOBILIERE G2 Péruwelz | €1,080 | -€719 | -26.7% | - |
| R&D CONSTRUCT Sint-Truiden | €708 | -€387 | -30210.8% | - |
| Well-Estate Antwerp | €1,185 | €614 | -82.9% | - |
These companies have the same main activity as DIVIMO: real estate agency activities (NACE 68310). They are comparable in size and age: total assets between €693 and €1,270, founded between 2002 and 2011.
DIVIMO files the micro format. That format states no turnover. The gross margin fell from €20,359 in 2006 to -€781 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them.
Lower than 95% of 15,480 companies in 2021.
Higher than 17% of 14,841 companies in 2021.
Higher than 95% of 15,235 companies in 2021.
Net result: middle half · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||||
20/58 |
855 | 285 | 1,621 | 4,089 | 5,248 | 4,173 | 15,258 | 4,783 | 18,299 | 40,597 | 67,717 | 44,753 | 10,818 | 44,340 | 9,717 | 9,967 | 2,783 | 23,745 | 34,270 | 106,253 | |
21/28 |
- | - | - | 1,001 | 1,001 | 1,169 | 1,625 | 2,081 | 10,664 | 18,855 | 26,802 | 34,839 | 1,026 | 1,026 | 1,143 | 4,487 | 1,025 | 1,135 | 1,245 | 1,357 | |
22/27 |
- | - | - | - | - | 169 | 625 | 1,081 | 9,663 | 17,829 | 25,777 | 33,813 | - | - | 264 | 3,462 | - | 110 | 220 | 357 | |
23 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 110 | 220 | 357 | |
24 |
- | - | - | - | - | 169 | 625 | 1,081 | 9,663 | 17,829 | 25,777 | 33,813 | - | - | 264 | 3,462 | - | - | - | - | |
28 |
- | - | - | 1,001 | 1,001 | 1,001 | 1,001 | 1,001 | 1,001 | 1,026 | 1,026 | 1,026 | 1,026 | 1,026 | 879 | 1,025 | 1,025 | 1,025 | 1,025 | 1,000 | |
29/58 |
855 | 285 | 1,621 | 3,088 | 4,247 | 3,004 | 13,633 | 2,702 | 7,635 | 21,743 | 40,914 | 9,914 | 9,792 | 43,315 | 8,574 | 5,480 | 1,758 | 22,610 | 33,025 | 104,896 | |
40/41 |
219 | 219 | 219 | 219 | 1,203 | 1,375 | 1,176 | 401 | 3,142 | 6,379 | 17,346 | 524 | 8,070 | 31,525 | 5,638 | 1,883 | 809 | 6,210 | 8,128 | 7,642 | |
40 |
- | - | - | - | 129 | 302 | 488 | - | 2,247 | - | 16,911 | - | 4,571 | 31,525 | 5,638 | 1,883 | 493 | 5,830 | 4,983 | 1,812 | |
41 |
219 | 219 | 219 | 219 | 1,073 | 1,073 | 688 | 401 | 895 | 6,379 | 435 | 524 | 3,498 | - | - | - | 316 | 380 | 3,145 | 5,830 | |
50/53 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 22,409 | 80,943 | |
54/58 |
636 | 66 | 1,402 | 2,869 | 3,045 | 1,281 | 11,932 | 1,908 | 4,004 | 13,313 | 21,652 | 6,831 | 581 | 10,536 | 996 | 1,845 | 949 | 16,400 | 2,488 | 16,311 | |
490/1 |
- | - | - | - | - | 348 | 525 | 392 | 489 | 2,050 | 1,917 | 2,560 | 1,142 | 1,253 | 1,940 | 1,751 | - | - | - | - | |
| Balance sheet: equity and liabilities | |||||||||||||||||||||
10/49 |
855 | 285 | 1,621 | 4,089 | 5,248 | 4,173 | 15,258 | 4,783 | 18,299 | 40,597 | 67,717 | 44,753 | 10,818 | 44,340 | 9,717 | 9,967 | 2,783 | 23,745 | 34,270 | 106,253 | |
10/15 |
-21,428 | -20,096 | -17,160 | -15,836 | -14,707 | -23,861 | -20,427 | -17,776 | 1,256 | 28,325 | 22,045 | -1,115 | 8,522 | 21,110 | -12,866 | -588 | -1,779 | 19,600 | 32,148 | 71,967 | |
10/11 |
8,060 | 8,060 | 8,060 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
13 |
- | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 39,360 | 39,360 | |
130/1 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
132 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 37,500 | 37,500 | |
14 |
-29,488 | -28,156 | -25,220 | -23,896 | -22,767 | -31,921 | -28,487 | -25,836 | -6,804 | 20,265 | 13,985 | -9,175 | 462 | 13,050 | -20,926 | -8,648 | -9,839 | 11,540 | -13,412 | 26,407 | |
17/49 |
22,283 | 20,382 | 18,782 | 19,925 | 19,955 | 28,034 | 35,685 | 22,559 | 17,043 | 12,272 | 45,672 | 45,868 | 2,296 | 23,230 | 22,582 | 10,555 | 4,562 | 4,145 | 2,122 | 34,286 | |
17 |
- | - | - | - | - | - | - | - | - | 2,679 | 10,640 | 18,483 | - | - | - | - | - | - | - | - | |
170/4 |
- | - | - | - | - | - | - | - | - | 2,679 | 10,640 | 18,483 | - | - | - | - | - | - | - | - | |
42/48 |
22,283 | 20,382 | 18,782 | 19,925 | 19,955 | 28,034 | 35,685 | 22,559 | 17,043 | 9,593 | 35,032 | 27,385 | 2,296 | 23,230 | 22,582 | 10,555 | 4,562 | 4,145 | 2,122 | 34,286 | |
42 |
- | - | - | - | - | - | - | - | 2,679 | 7,960 | 8,492 | 7,728 | - | - | - | - | - | - | - | - | |
44 |
492 | - | - | - | 113 | 291 | 764 | 227 | 121 | 115 | 20,604 | 2,390 | 948 | 190 | 1,262 | 1,130 | 3,240 | 1,196 | 487 | 2,442 | |
440/4 |
492 | - | - | - | 113 | 291 | 764 | 227 | 121 | 115 | 20,604 | 2,390 | 948 | 190 | 1,262 | 1,130 | 3,240 | 1,196 | 487 | 2,442 | |
45 |
- | - | - | - | 377 | 436 | 427 | 225 | 287 | 1,518 | - | - | 1,349 | 10,132 | 686 | 1,468 | - | 2,517 | 286 | 13,299 | |
450/3 |
- | - | - | - | 377 | 436 | 427 | 225 | 287 | 1,518 | - | - | 1,349 | 10,132 | 686 | 1,468 | - | 2,517 | 286 | 13,299 | |
47/48 |
21,790 | 20,382 | 18,782 | 19,925 | 19,466 | 27,307 | 34,494 | 22,108 | 13,956 | - | 5,937 | 17,267 | - | 12,908 | 20,635 | 7,957 | 1,322 | 432 | 1,349 | 18,545 | |
| Income statement | |||||||||||||||||||||
9900 |
-781 | -2,414 | -819 | -662 | 10,293 | -2,621 | -1,196 | -8,803 | -16,780 | 16,051 | 32,651 | 2,510 | -12,263 | 35,082 | -8,119 | 5,224 | -19,864 | -11,102 | -27,809 | 20,359 | |
630 |
- | - | - | - | - | 456 | 456 | 8,909 | 9,009 | 8,840 | 8,662 | 8,453 | - | 264 | 3,198 | 3,198 | 110 | 110 | 467 | 358 | |
640/8 |
400 | 387 | 384 | 348 | 864 | 0 | 670 | 872 | 758 | 752 | 437 | 3,373 | 830 | 727 | 901 | 710 | 803 | 2,029 | 1,815 | 2,466 | |
9901 |
-1,181 | -2,801 | -1,204 | -1,010 | 9,429 | -3,077 | -2,322 | -18,585 | -26,547 | 6,459 | 23,552 | -9,317 | -13,094 | 34,091 | -12,218 | 1,315 | -20,776 | -13,241 | -30,091 | 17,535 | |
75/76B |
- | - | - | - | - | - | - | - | - | 229 | 3 | 3 | 671 | - | 1 | 9 | 4 | 733 | 1,802 | 2,096 | |
75 |
- | - | - | - | - | - | - | - | - | 229 | 3 | 3 | 671 | - | 1 | 9 | 4 | 733 | 1,802 | 2,096 | |
65/66B |
150 | 135 | 120 | 120 | 132 | 123 | 127 | 223 | 247 | 408 | 394 | 322 | 165 | 115 | 60 | 134 | 606 | 40 | 12,359 | 1,131 | |
65 |
150 | 135 | 120 | 120 | 132 | 123 | 127 | 223 | 247 | 408 | 394 | 322 | 165 | 115 | 60 | 134 | 606 | 40 | 12,359 | 1,131 | |
9903 |
-1,331 | -2,936 | -1,324 | -1,130 | 9,297 | -3,200 | -2,449 | -18,808 | -26,794 | 6,280 | 23,161 | -9,636 | -12,588 | 33,976 | -12,277 | 1,191 | -21,379 | -12,548 | -40,648 | 18,500 | |
67/77 |
- | - | - | - | 143 | 233 | 202 | 225 | 274 | - | 1 | 1 | 0 | - | 0 | - | 1 | - | -829 | 297 | |
9904 |
-1,331 | -2,936 | -1,324 | -1,130 | 9,154 | -3,433 | -2,651 | -19,033 | -27,069 | 6,280 | 23,160 | -9,637 | -12,589 | 33,976 | -12,277 | 1,191 | -21,379 | -12,548 | -39,819 | 18,203 | |
789 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 37,500 | - | - | |
9905 |
-1,331 | -2,936 | -1,324 | -1,130 | 9,154 | -3,433 | -2,651 | -19,033 | -27,069 | 6,280 | 23,160 | -9,637 | -12,589 | 33,976 | -12,277 | 1,191 | -21,379 | 24,952 | -39,819 | 18,203 | |
| Appropriation of the result | |||||||||||||||||||||
9906 |
-29,488 | -28,156 | -25,220 | -23,896 | -22,767 | -31,921 | -28,487 | -25,836 | -6,804 | 20,265 | 13,985 | -9,175 | 462 | 13,050 | -20,926 | -8,648 | -9,839 | 11,540 | -13,412 | 44,407 | |
14P |
-28,156 | -25,220 | -23,896 | -22,767 | -31,921 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
694/7 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 18,000 | |
695 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 18,000 | |
| Document | |||||||||||||||||||||
The accounts for financial year 2005 were filed as a document without figures as data, a scan for example.
The notes to these accounts have 1 item. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 21-08-2026.
2025 annual accounts filed 21 days after the deadline. Filed on 21 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00413448.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 21-08-2026 | 2026-00413448 | |
| 31-12-2024 | micro format | 19-08-2025 | 2025-00384081 | |
| 31-12-2023 | micro format | 19-08-2024 | 2024-00349307 | |
| 31-12-2022 | micro format | 21-08-2023 | 2023-00337043 | |
| 31-12-2021 | micro format | 30-08-2022 | 2022-20344095 | |
| 31-12-2020 | micro format | 19-08-2021 | 2021-50300472 | |
| 31-12-2019 | micro format | 21-08-2020 | 2020-42800356 | |
| 31-12-2018 | micro format | 22-08-2019 | 2019-49400558 | |
| 31-12-2017 | micro format | 03-08-2018 | 2018-42600486 | |
| 31-12-2016 | micro format | 29-08-2017 | 2017-49100479 | |
| 31-12-2015 | full format | 22-08-2016 | 2016-44200257 | |
| 31-12-2014 | full format | 23-07-2015 | 2015-32800270 | |
| 31-12-2013 | full format | 12-08-2014 | 2014-41000381 | |
| 31-12-2012 | full format | 19-08-2013 | 2013-42700461 | |
| 31-12-2011 | full format | 24-08-2012 | 2012-43800563 | |
| 31-12-2010 | full format | 31-08-2011 | 2011-47400311 | |
| 31-12-2009 | full format | 19-08-2010 | 2010-41900417 | |
| 31-12-2008 | full format | 18-05-2009 | 2009-14800096 | |
| 31-12-2007 | full format | 22-08-2008 | 2008-58800379 | |
| 31-12-2006 | full format | 25-07-2007 | 2007-45200191 | |
| 31-12-2005 | full format | 02-08-2006 | 2006-59000030 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| - | - | - | - | - | -2,621 | -1,866 | -9,676 | -17,538 | 15,299 | 32,214 | -864 | - | 34,355 | -9,020 | 4,513 | -20,667 | -13,131 | -29,624 | 17,893 | ||
| - | - | - | - | - | -2,977 | -2,195 | -10,123 | -18,060 | 15,121 | 31,822 | -1,184 | - | 34,240 | -9,080 | 4,389 | -21,269 | -12,438 | -39,352 | 18,561 | ||
| - | - | - | - | - | 0 | 0 | 326 | 843 | 893 | 625 | 42,267 | - | 147 | 151 | 6,660 | -0 | 0 | 355 | 1,000 | ||
| 570 | -1,336 | -1,467 | -176 | 1,764 | -10,652 | 10,025 | -2,096 | -9,309 | -8,339 | 14,821 | 6,250 | -9,955 | 9,540 | -850 | 897 | -15,451 | 13,912 | -13,823 | - | ||
| -21,428 | -20,096 | -17,160 | -16,837 | -15,707 | -25,030 | -22,052 | -19,858 | -9,408 | 12,150 | 5,882 | -17,471 | 7,496 | 20,085 | -14,008 | -5,075 | -2,804 | 18,465 | 30,903 | 70,610 | ||
| - | - | - | - | -280.2% | - | -133.9% | - | 6.9% | 69.8% | 32.6% | -2.5% | 78.8% | 47.6% | -132.4% | -5.9% | - | 82.5% | 93.8% | 67.7% | ||
| - | - | - | - | 0.21 | - | 0.38 | - | 0.45 | 2.27 | 1.17 | 0.36 | 4.26 | 1.86 | 0.38 | 0.52 | - | 5.45 | 15.56 | 3.06 | ||
| - | - | - | - | - | - | - | - | 13.57 | 0.43 | 2.07 | - | 0.27 | 1.10 | - | - | - | 0.21 | 0.07 | 0.48 | ||
| - | - | - | - | - | - | - | - | - | 22.2% | 105.1% | - | -147.7% | 160.9% | - | - | - | -64.0% | -123.9% | 25.3% | ||
| - | - | - | - | 174.4% | - | -17.4% | - | -147.9% | 15.5% | 34.2% | -21.5% | -116.4% | 76.6% | -126.4% | 11.9% | - | -52.8% | -116.2% | 17.1% |
The ratios are withheld because a balance sheet total of €855 is too small for a meaningful ratio.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
The operating result for 2025 is a loss of €1,181, smaller than the loss of €2,801 in 2024.
Equity is negative. Debt (€22,283) exceeds the balance-sheet total (€855).
DIVIMO has no parent and no holdings in its annual accounts. Patrick MOREL de WESTGAVER is the only director.
| NALO DIFFUSION
registered office since 25-07-2006 · negative equity (2026) |
founded in 2006 0882.695.941 |
The board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
On 31 March 2005, DIVIMO was incorporated.1 In 2024 the registered office moved to Sint-Genesius-Rode.2 Patrick MOREL de WESTGAVER has served as director since 2005.3 Total assets went from €4,783 in 2018 to €1,621 in 2023.4
| Establishment | Since | Unit number |
|---|---|---|
| Sylvianelaan 3 registered office 1640 Sint-Genesius-Rode | ||
| DIVIMO SPRL Waterloosesteenweg 1362, 1180 Uccle | 24-03-2005 | 2.146.529.727 |
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 22552F0004/00L031 | Flanders | 1,238 m² | 1 · 131 m² | 10.9 m · 2 |
| 21614H0010/00Y009 | Brussels | 222 m² | 1 · 94 m² | 15.7 m · 4 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0872.842.919
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