DMC
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 14-07-2026 at the NBB all 19 filings
Turnover
≈ €250,000
Estimated: probably between €150,000 and €490,000
Total assets
€749,714▲ 73.6%
2024 · €431,843
Net result
€399▼ 97.8%
2024 · €17,984
Working capital
€215,121▼ 19.4%
2024 · €266,931
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€10,282
▼ 52.5%
2025
20182025
Net result
€399
▼ 97.8%
2025
middle half of the sector
20182025
Equity
€323,135
▲ 0.1%
2025
middle half of the sector
20182025
Total assets
€749,714
▲ 73.6%
2025
middle half of the sector
20182025
Debt
€426,579
▲ 291%
2025
20182025
Working capital
€215,121
▼ 19.4%
2025
middle half of the sector
20182025
Solvency
43.1%
▼ 31.6pp
2025
middle half of the sector
20182025
Current ratio
2.70
▼ 0.74
2025
middle half of the sector
20182025
Return on assets (ROA)
0.1%
▼ 4.1pp
2025
middle half of the sector
20182025
Staff (FTE)
0.2
=
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€6,000-€31,535▲ 426%€132,098▲ 319%€67,774▼ 48.7%€59,991▼ 11.5%€67,561▲ 12.6%€21,664▼ 67.9%€10,282▼ 52.5%
Net result€4,031-€24,721▲ 513%€107,778above the sector's middle half▲ 336%€49,685above the sector's middle half▼ 53.9%€47,119above the sector's middle half▼ 5.2%€51,856within the sector's middle half▲ 10.1%€17,984within the sector's middle half▼ 65.3%€399within the sector's middle half▼ 97.8%
Equity€43,592-€68,313▲ 56.7%€156,091above the sector's middle half▲ 128%€205,777above the sector's middle half▲ 31.8%€252,896above the sector's middle half▲ 22.9%€304,752within the sector's middle half▲ 20.5%€322,736within the sector's middle half▲ 5.9%€323,135within the sector's middle half▲ 0.1%
Total assets€229,727-€246,891▲ 7.5%€310,810within the sector's middle half▲ 25.9%€356,819within the sector's middle half▲ 14.8%€409,886above the sector's middle half▲ 14.9%€397,990below the sector's middle half▼ 2.9%€431,843below the sector's middle half▲ 8.5%€749,714within the sector's middle half▲ 73.6%
Debt€186,135-€178,578▼ 4.1%€154,719▼ 13.4%€151,043▼ 2.4%€156,990▲ 3.9%€93,239▼ 40.6%€109,107▲ 17.0%€426,579▲ 291%
Working capital€55,427-€72,942▲ 31.6%€142,871above the sector's middle half▲ 95.9%€155,867above the sector's middle half▲ 9.1%€209,750above the sector's middle half▲ 34.6%€262,545within the sector's middle half▲ 25.2%€266,931within the sector's middle half▲ 1.7%€215,121within the sector's middle half▼ 19.4%
Solvency19.0%-27.7%▲ 8.7pp50.2%within the sector's middle half▲ 22.6pp57.7%within the sector's middle half▲ 7.4pp61.7%within the sector's middle half▲ 4.0pp76.6%above the sector's middle half▲ 14.9pp74.7%above the sector's middle half▼ 1.8pp43.1%within the sector's middle half▼ 31.6pp
Current ratio1.37-1.57▲ 0.202.30within the sector's middle half▲ 0.732.19within the sector's middle half▼ 0.112.42within the sector's middle half▲ 0.223.90above the sector's middle half▲ 1.483.45above the sector's middle half▼ 0.452.70within the sector's middle half▼ 0.74
Return on assets (ROA)1.8%-10.0%▲ 8.3pp34.7%above the sector's middle half▲ 24.7pp13.9%within the sector's middle half▼ 20.8pp11.5%within the sector's middle half▼ 2.4pp13.0%above the sector's middle half▲ 1.5pp4.2%within the sector's middle half▼ 8.9pp0.1%within the sector's middle half▼ 4.1pp
Staff (FTE)0.80.3▼ 62.5%0.2below the sector's middle half▼ 33.3%0.2below the sector's middle half=0.2below the sector's middle half=
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 53% lower than in 2024 and the lowest since 2021. It is the second fall in a row.
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 €749,714
Fixed assets
€408,182 ▲ 631%
Current assets
€341,532 ▼ 9.2%
Equity and liabilities €749,714
Equity
€323,135 ▲ 0.1%
Debt
€426,579 ▲ 291%
Debt's share of the balance-sheet total rises from 25.3% to 56.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€31,965▼
2024 · €32,165
Cash flow
€22,082▼
2024 · €28,485
Quick ratio
0.34▲
2024 · 0.32
Debt to equity
1.32▲
2024 · 0.34
ROE
0.1%▼
2024 · 5.6%
Interest coverage
3.27▼
2024 · 7.09
Debt ≤ 1 year
€126,411▲
2024 · €109,107
Debt > 1 year
€300,169
Income taxes
€3,120▼
2024 · €4,681
Staff costs
€6,134▼
2024 · €8,585
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | - | - | - | - |
| part-time | 1 | - | - | - | - |
| in full-time equivalents | 0.6 | - | - | - | - |
| Average over the year, in full-time equivalents | 0.5 | 0.3 | 0.2 | 0.2 | 0.2 |
| On a permanent contract | 1 | - | - | - | - |
| Joined | 1 | 0 | 1 | 2 | 1 |
| Left | 0 | 1 | 1 | 2 | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €36,085 | €17,820 | €13,682 | €31,963 | €380,415 |
| Depreciation and write-downs of the year | €24,089 | €16,524 | €18,111 | €10,501 | €21,683 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 · 1 entry · €1,372 awarded · €1,372 paidSchemes
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €6,253 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €13,617 | €5,954 | €3,413 | €8,585 | €6,134 | ▼ 28.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,034 | €14,241 | €14,187 | €24,089 | €16,524 | €18,111 | €10,501 | €21,683 | ▲ 106% |
| Other operating charges640/8 | - | - | - | €4,947 | €5,454 | €6,273 | €6,422 | €8,831 | ▲ 37.5% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €4,159 | - | - |
| Gross operating margin9900 | €26,853 | €54,275 | €155,471 | €110,426 | €87,922 | €95,358 | €51,331 | €46,930 | ▼ 8.6% |
| Operating profit (loss)9901 | €6,000 | €31,535 | €132,098 | €67,774 | €59,991 | €67,561 | €21,664 | €10,282 | ▼ 52.5% |
| Financial income75/76B | - | - | - | €1,902 | €2,347 | €3,957 | €5,536 | €3,015 | ▼ 45.5% |
| Recurring financial income75 | €1,938 | €1,479 | €2,470 | €1,902 | €2,347 | €3,957 | €5,536 | €3,015 | ▼ 45.5% |
| Financial charges65/66B | - | - | - | €2,570 | €4,024 | €4,573 | €4,535 | €9,779 | ▲ 116% |
| Recurring financial charges65 | €2,846 | €3,860 | €3,378 | €2,570 | €4,024 | €4,573 | €4,535 | €9,779 | ▲ 116% |
| Profit (loss) for the period before taxes9903 | €5,093 | €29,153 | €131,190 | €67,105 | €58,314 | €66,945 | €22,665 | €3,519 | ▼ 84.5% |
| Income taxes67/77 | €1,061 | €4,433 | €23,411 | €17,420 | €11,195 | €15,089 | €4,681 | €3,120 | ▼ 33.4% |
| Profit (loss) for the period9904 | €4,031 | €24,721 | €107,778 | €49,685 | €47,119 | €51,856 | €17,984 | €399 | ▼ 97.8% |
| Profit (loss) for the period to be appropriated9905 | €4,031 | €24,721 | €107,778 | €49,685 | €47,119 | €51,856 | €17,984 | €399 | ▼ 97.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €229,727 | €246,891 | €310,810 | €356,819 | €409,886 | €397,990 | €431,843 | €749,714 | ▲ 73.6% |
| Fixed assets21/28 | €24,020 | €45,884 | €58,118 | €70,115 | €51,999 | €44,841 | €55,805 | €408,182 | ▲ 631% |
| Tangible fixed assets22/27 | €22,320 | €45,884 | €58,118 | €70,115 | €51,999 | €44,841 | €55,805 | €408,182 | ▲ 631% |
| Land and buildings22 | - | - | - | - | - | - | - | €371,195 | - |
| Plant, machinery and equipment23 | - | - | - | €32,726 | €41,516 | €42,334 | €54,110 | €35,867 | ▼ 33.7% |
| Furniture and vehicles24 | - | - | - | €32,658 | €7,479 | €267 | €15 | - | - |
| Other tangible fixed assets26 | - | - | - | €4,731 | €3,004 | €2,240 | €1,680 | €1,120 | ▼ 33.3% |
| Financial fixed assets28 | €1,700 | - | - | - | - | - | - | - | - |
| Current assets29/58 | €205,707 | €201,007 | €252,692 | €286,705 | €357,887 | €353,150 | €376,038 | €341,532 | ▼ 9.2% |
| Stocks and contracts in progress3 | €190,886 | €181,860 | €212,186 | €278,796 | €320,571 | €332,347 | €340,902 | €298,417 | ▼ 12.5% |
| Stocks30/36 | - | - | - | €278,796 | €320,571 | €332,347 | €340,902 | €298,417 | ▼ 12.5% |
| Amounts receivable within one year40/41 | €12,071 | €16,784 | €15,417 | €7,113 | €9,417 | €8,826 | €30,845 | €35,002 | ▲ 13.5% |
| Trade receivables40 | - | - | - | €7,113 | €9,417 | €8,826 | €5,657 | €136 | ▼ 97.6% |
| Other amounts receivable41 | - | - | - | - | - | - | €25,188 | €34,866 | ▲ 38.4% |
| Cash at bank and in hand54/58 | €204 | €749 | €24,298 | €150 | €24,115 | €7,843 | €2,073 | €561 | ▼ 73.0% |
| Deferred charges and accrued income490/1 | - | - | - | €645 | €3,784 | €4,133 | €2,219 | €7,552 | ▲ 240% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €229,727 | €246,891 | €310,810 | €356,819 | €409,886 | €397,990 | €431,843 | €749,714 | ▲ 73.6% |
| Equity10/15 | €43,592 | €68,313 | €156,091 | €205,777 | €252,896 | €304,752 | €322,736 | €323,135 | ▲ 0.1% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €20,961 | €24,992 | €137,491 | €137,491 | €137,491 | €286,152 | €286,152 | €286,152 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €135,631 | €135,631 | €286,152 | €286,152 | €286,152 | = |
| Profit (loss) carried forward14 | €4,031 | €24,721 | - | €49,685 | €96,805 | - | €17,984 | €18,383 | ▲ 2.2% |
| Amounts payable17/49 | €186,135 | €178,578 | €154,719 | €151,043 | €156,990 | €93,239 | €109,107 | €426,579 | ▲ 291% |
| Amounts payable after more than one year17 | €35,855 | €50,513 | €44,898 | €20,206 | €8,854 | €2,634 | - | €300,169 | - |
| Financial debts170/4 | - | - | - | €20,206 | €8,854 | €2,634 | - | €300,169 | - |
| Amounts payable within one year42/48 | €150,280 | €128,065 | €109,820 | €130,837 | €148,137 | €90,605 | €109,107 | €126,411 | ▲ 15.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €24,693 | €11,352 | €6,220 | €2,634 | €22,511 | ▲ 755% |
| Financial debts43 | - | - | - | €13,069 | €25,935 | €28,458 | €57,793 | €42,339 | ▼ 26.7% |
| Credit institutions430/8 | - | - | - | €13,069 | €25,935 | €28,458 | €57,793 | €42,339 | ▼ 26.7% |
| Trade debts44 | €88,962 | €52,499 | €14,057 | €19,044 | €49,172 | €16,979 | €45,842 | €49,394 | ▲ 7.7% |
| Suppliers440/4 | - | - | - | €19,044 | €49,172 | €16,979 | €45,842 | €49,394 | ▲ 7.7% |
| Advances received on contracts in progress46 | - | - | - | - | - | €4,731 | €120 | €6,787 | ▲ 57× |
| Taxes, remuneration and social security45 | - | - | - | €33,932 | €18,624 | €14,481 | €2,009 | €4,672 | ▲ 132% |
| Taxes450/3 | - | - | - | €31,328 | €18,624 | €14,459 | €1,984 | €4,672 | ▲ 135% |
| Remuneration and social security454/9 | - | - | - | €2,604 | - | €21 | €25 | - | - |
| Other amounts payable47/48 | - | - | - | €40,100 | €43,054 | €19,737 | €708 | €708 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,031 | €24,721 | €107,778 | €49,685 | €47,119 | €51,856 | €17,984 | €399 | ▼ 97.8% |
| + Depreciation and write-downs630 | €15,034 | €14,241 | €14,187 | €24,089 | €16,524 | €18,111 | €10,501 | €21,683 | ▲ 106% |
| Operating cash flow (approximation) | €19,066 | €38,962 | €121,965 | €73,774 | €63,644 | €69,967 | €28,485 | €22,082 | ▼ 22.5% |
| Investment in fixed assets (approximation) | - | -€36,105 | -€26,421 | -€36,085 | €1,591 | -€10,952 | -€21,465 | -€374,060 | ▼ 1,643% |
| Change in cash | - | €545 | €23,549 | -€24,148 | €23,964 | -€16,272 | -€5,770 | -€1,512 | ▲ 73.8% |
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, 10,904 companies had the same profile as DMC has now. Two years later, 95.1% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
95.1%
was still going
4.0%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of DMC itself: 0.4% 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 10,904 companies, not a prediction for DMC. 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 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 14-07-2026 | 2026-00297014 | |
| 31-12-2024 | abbreviated format | 27-06-2025 | 2025-00191258 | |
| 31-12-2023 | abbreviated format | 13-06-2024 | 2024-00130592 | |
| 31-12-2022 | micro format | 30-06-2023 | 2023-00199372 | |
| 31-12-2021 | micro format | 09-08-2022 | 2022-20287952 | |
| 31-12-2020 | micro format | 30-08-2021 | 2021-61900141 | |
| 31-12-2019 | micro format | 07-08-2020 | 2020-39900015 | |
| 31-12-2018 | micro format | 24-07-2019 | 2019-37100280 | |
| 31-12-2017 | micro format | 12-06-2018 | 2018-17900175 | |
| 31-12-2016 | micro format | 30-06-2017 | 2017-24500579 |