DIVINE GRACE

Active

Public limited companyfounded 200124 yrs activeBerkenlaan 9, 2610 Antwerpen, BelgiumKBO/BCE: BE 0476.307.810

DIVINE GRACE has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of USD 5.02M and a net result of USD 127k. The computed 12-month bankruptcy probability is 0.4% (very low).

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Checked score

Score 2024

66 / 100

Healthy

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability61▲+14

Solvency57▲+12

Growth-

Track record100

Bankruptcy probability, 12 months

0.4% Very low

0%0.5%1.5%4%10%≥ 25%

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 46

Relative position

BE, all sectors

reference

Sector 46

higher

← fewer bankruptcies more bankruptcies →

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

32.1%

Return on assets

0.8%

Age of the figures

21 mo

Filed after the deadline

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.

NBB · 10 filings

Deviation from the deadline

2025

25 d late

2024

2 d early

2023

26 d early

2022

28 d late

2021

11 d late

2020

11 d early

2019

3 d early

← before the deadline after the deadline →

The next deadline is still running

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.

Companies Code · seven months

Position in the running window

22-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, abbreviated schema

Amounts retain their source currency, without conversion. Different currencies are not compared or combined in one chart; mixed amounts within a fiscal year are withheld.

Turnover

USD 2.39M▼ 50.9%

2023 · USD 4.86M

EBIT margin

6.0%▲ 3.9pp

2023 · 2.1%

2018: 3.0% 2019: 3.5% 2020: 0.5% 2023: 2.1%

2018 → 2024

Net result

USD 127k▲ 148%

2023 · USD 51k

Working capital

USD 15.30M▲ 1.2%

2023 · USD 15.11M

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20182019202020232024Trend

Turnover€17.34M-€13.10M▼ 24.4%€9.45M▼ 27.9%USD 4.86MUSD 2.39M▼ 50.9%

Equity€3.87M-€3.93M▲ 1.5%€3.93M=USD 4.89MUSD 5.02M▲ 2.6%

Operating result€514k-€460k▼ 10.4%€47k▼ 89.8%USD 100kUSD 143k▲ 42.7%

Net result€19k-€58k▲ 198%€2k▼ 96.6%USD 51kUSD 127k▲ 148%

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets USD 15.62M

100.0%

Fixed assets USD 366▼ 70.2%

Current assets USD 15.62M▼ 36.5%

Equity and liabilities USD 15.62M

32.1%

67.9%

Equity USD 5.02M▲ 2.6%

Debt USD 10.60M▼ 46.2%

The debt ratio falls from 80.1% to 67.9%. Equity is higher and debt is lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

USD 144k▲

2023 · USD 101k

Cash flow

USD 128k▲

2023 · USD 52k

Solvency

32.1%▲

2023 · 19.9%

Current ratio

48.42▲

2023 · 2.59

Quick ratio

0.01▼

2023 · 0.72

Debt / equity

2.11▼

2023 · 4.03

ROE

2.5%▲

2023 · 1.0%

ROA

0.8%▲

2023 · 0.2%

Interest coverage

28.05▲

2023 · 4.57

Debt

USD 10.60M▼

2023 · USD 19.71M

Debt ≤ 1 year

USD 323k▼

2023 · USD 9.49M

Debt > 1 year

USD 10.14M▲

2023 · USD 10.09M

Income taxes

USD 13k▼

2023 · USD 29k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58USD 24.60MUSD 15.62M▼

Fixed assets21/28USD 1kUSD 366▼

Tangible fixed assets22/27USD 1kUSD 366▼

Furniture and vehicles24USD 1kUSD 366▼

Current assets29/58USD 24.60MUSD 15.62M▼

Stocks and contracts in progress3USD 17.76MUSD 15.61M▼

Stocks30/36USD 17.76MUSD 15.61M▼

Amounts receivable within one year40/41USD 6.82MUSD 1k▼

Trade receivables40USD 6.82M-

Other amounts receivable41USD 2kUSD 1k▼

Cash at bank and in hand54/58USD 14kUSD 3k▼

Deferred charges and accrued income490/1USD 331-

Equity and liabilities

Total equity and liabilities10/49USD 24.60MUSD 15.62M▼

Equity10/15USD 4.89MUSD 5.02M▲

Contributions10/11USD 3.88MUSD 3.88M=

Capital10USD 3.88MUSD 3.88M=

Issued capital100USD 3.88MUSD 3.88M=

Reserves13USD 1.01MUSD 1.14M▲

Non-distributable reserves130/1USD 388kUSD 388k=

Legal reserve130USD 388kUSD 388k=

Distributable reserves133USD 621kUSD 748k▲

Amounts payable17/49USD 19.71MUSD 10.60M▼

Amounts payable after more than one year17USD 10.09MUSD 10.14M▲

Financial debts170/4USD 10.09MUSD 10.14M▲

Amounts payable within one year42/48USD 9.49MUSD 323k▼

Trade debts44USD 9.37MUSD 159k▼

Suppliers440/4USD 9.37MUSD 159k▼

Advances received on contracts in progress46-USD 15k

Taxes, remuneration and social security45USD 74kUSD 80k▲

Taxes450/3USD 40kUSD 40k▲

Remuneration and social security454/9USD 34kUSD 40k▲

Other amounts payable47/48USD 47kUSD 69k▲

Accrued charges and deferred income492/3USD 138kUSD 136k▼

Income statement Code20232024

Turnover70USD 4.86MUSD 2.39M▼

Goods, raw materials, services and sundry goods60/61USD 4.78MUSD 2.24M▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630USD 837USD 860▲

Other operating charges640/8USD 5kUSD 128▼

Gross operating margin9900USD 106kUSD 144k▲

Operating profit (loss)9901USD 100kUSD 143k▲

Financial income75/76BUSD 2kUSD 1k▼

Recurring financial income75USD 2kUSD 1k▼

Financial charges65/66BUSD 22kUSD 5k▼

Recurring financial charges65USD 22kUSD 5k▼

Profit (loss) for the period before taxes9903USD 80kUSD 140k▲

Income taxes67/77USD 29kUSD 13k▼

Profit (loss) for the period9904USD 51kUSD 127k▲

Profit (loss) for the period to be appropriated9905USD 51kUSD 127k▲

Appropriation of the result

Profit (loss) to be appropriated9906USD 51kUSD 127k▲

Transfer to equity691/2USD 51kUSD 127k▲

To other reserves6921USD 51kUSD 127k▲

The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 14Financial 4Filings 10

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

2026

25-08

NBB filing Annual accounts filed

fiscal year 2025 · full schema · 25 days late

2025

29-07

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

31-12

Financial Highest result since 2018net €127k ▲148%

Net result €127k, the highest in the series.

31-12

Financial Liquidity times 19current ratio 48.42

Current ratio from 2.59 to 48.42; short-term debt falls from €9.49M to €323k.

31-12

Financial Equity above €5MEq €5.02M ▲2.6%

5 profitable years in a row build equity to €5.02M.

05-07

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2023

28-08

NBB filing Annual accounts filed

fiscal year 2022 · full schema · 28 days late

2022

11-08

NBB filing Annual accounts filed

fiscal year 2021 · full schema · 11 days late

2021

20-07

NBB filing Annual accounts filed

fiscal year 2020 · full schema

2020

31-12

Financial Weakest financial yearnet €2k ▼96.6%

Net result drops to €2k, the lowest in the series; recovery starts the following year.

28-07

NBB filing Annual accounts filed

fiscal year 2019 · full schema

2019

03-07

NBB filing Annual accounts filed

fiscal year 2018 · full schema

2018

11-07

NBB filing Annual accounts filed

fiscal year 2017 · full schema

2017

12-07

NBB filing Annual accounts filed

fiscal year 2016 · full schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

no sitting director, no change since 2024

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

14-10-2024 Ramesh Patel: Resigned as Director

14-10-2024 Ramesh Patel: Resigned as Managing director

14-10-2024 Saroj Patel: Resigned as Director

10-12-2010 PATEL Jagdish: Resigned as Director

Location & real-estate footprint

Registered office, Antwerpen · 1 establishment unit since 2002

establishment approximate The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Berkenlaan 92610 Antwerpen

Ground area

1,569 m²