DOUX
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 05-06-2026 PDF all 7 filings
Turnover
≈ €550,000
Estimated: probably between €390,000 and €800,000
Total assets
€503,089▼ 7.4%
2024 · €543,389
Net result
€73,242▼ 20.9%
2024 · €92,613
Working capital
-€69,536
2024 · €12,376
In the rankings
#6 company by total assets in Vosselaar, Manufacturing sector
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€102,334
▼ 20.3%
2025
20192025
Net result
€73,242
▼ 20.9%
2025
highest quarter of the sector
20192025
Equity
€65,500
▼ 58.6%
2025
middle half of the sector
20192025
Total assets
€503,089
▼ 7.4%
2025
highest quarter of the sector
20192025
Debt
€437,589
▲ 13.6%
2025
20192025
Working capital
-€69,536
2025
lowest quarter of the sector
20192025
Solvency
13.0%
▼ 16.1pp
2025
middle half of the sector
20192025
Current ratio
0.68
▼ 0.41
2025
middle half of the sector
20192025
Return on assets (ROA)
14.6%
▼ 2.5pp
2025
highest quarter of the sector
20192025
Staff (FTE)
8.2
▲ 7.9%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€62,581-€135,010▲ 116%€130,466▼ 3.4%€89,971▼ 31.0%€166,951▲ 85.6%€128,372▼ 23.1%€102,334▼ 20.3%
Net result€43,620-€98,490above the sector's middle half▲ 126%€102,794above the sector's middle half▲ 4.4%€73,947above the sector's middle half▼ 28.1%€122,793above the sector's middle half▲ 66.1%€92,613above the sector's middle half▼ 24.6%€73,242above the sector's middle half▼ 20.9%
Equity€62,220-€160,710above the sector's middle half▲ 158%€263,503above the sector's middle half▲ 64.0%€123,245above the sector's middle half▼ 53.2%€150,000above the sector's middle half▲ 21.7%€158,113above the sector's middle half▲ 5.4%€65,500within the sector's middle half▼ 58.6%
Total assets€459,081-€510,010above the sector's middle half▲ 11.1%€614,701above the sector's middle half▲ 20.5%€617,620above the sector's middle half▲ 0.5%€655,576above the sector's middle half▲ 6.1%€543,389above the sector's middle half▼ 17.1%€503,089above the sector's middle half▼ 7.4%
Debt€396,861-€349,301▼ 12.0%€351,197▲ 0.5%€494,375▲ 40.8%€505,576▲ 2.3%€385,275▼ 23.8%€437,589▲ 13.6%
Working capital€43,168-€134,404above the sector's middle half▲ 211%€203,048above the sector's middle half▲ 51.1%€38,418within the sector's middle half▼ 81.1%€12,640within the sector's middle half▼ 67.1%€12,376within the sector's middle half▼ 2.1%-€69,536below the sector's middle half
Solvency13.6%-31.5%within the sector's middle half▲ 18.0pp42.9%within the sector's middle half▲ 11.4pp20.0%within the sector's middle half▼ 22.9pp22.9%within the sector's middle half▲ 2.9pp29.1%within the sector's middle half▲ 6.2pp13.0%within the sector's middle half▼ 16.1pp
Current ratio1.36-2.45above the sector's middle half▲ 1.082.72above the sector's middle half▲ 0.281.21within the sector's middle half▼ 1.511.06within the sector's middle half▼ 0.161.09within the sector's middle half▲ 0.040.68within the sector's middle half▼ 0.41
Return on assets (ROA)9.5%-19.3%above the sector's middle half▲ 9.8pp16.7%above the sector's middle half▼ 2.6pp12.0%above the sector's middle half▼ 4.7pp18.7%above the sector's middle half▲ 6.8pp17.0%above the sector's middle half▼ 1.7pp14.6%above the sector's middle half▼ 2.5pp
Staff (FTE)1.9-2.3within the sector's middle half▲ 21.1%8.3▲ 261%7.8▼ 6.0%8.5▲ 9.0%7.6▼ 10.6%8.2▲ 7.9%
above
within
below
The sector band is the middle half of the companies in Manufacture of food products (NACE 10). 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 20% lower than in 2024. It is the second fall in a row.
Turnover and EBIT margin are not published. The 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 €503,089
Fixed assets
€353,127 ▼ 10.7%
Current assets
€149,962 ▲ 1.2%
Equity and liabilities €503,089
Equity
€65,500 ▼ 58.6%
Debt
€437,589 ▲ 13.6%
Debt's share of the balance-sheet total rises from 70.9% to 87.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€155,799▼
2024 · €180,124
Cash flow
€126,707▼
2024 · €144,365
Quick ratio
0.61▼
2024 · 0.97
Debt to equity
6.68▲
2024 · 2.44
ROE
111.8%▲
2024 · 58.6%
Interest coverage
13.80▼
2024 · 14.35
Debt ≤ 1 year
€219,499▲
2024 · €135,758
Debt > 1 year
€214,314▼
2024 · €245,310
Income taxes
€18,185▼
2024 · €24,445
Staff costs
€115,777▲
2024 · €114,682
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 | 8 | 9 | 9 | 11 | 10 |
| full-time | 1 | 1 | 1 | 2 | 2 |
| part-time | 7 | 8 | 8 | 9 | 8 |
| in full-time equivalents | 3.1 | 3.7 | 3.8 | 4.2 | 4.1 |
| Average over the year, in full-time equivalents | 2.5 | 2.6 | 3.2 | 3.1 | 2.8 |
| On a permanent contract | 2 | 3 | 3 | 2 | 2 |
| Joined | 104 | 166 | - | 220 | 191 |
| Left | 104 | 165 | - | 218 | 192 |
| Training hours | 41 | 55 | - | - | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €66,379 | €143,712 | €67,173 | €36,090 | €13,263 |
| Depreciation and write-downs of the year | €55,141 | €40,034 | €39,588 | €51,752 | €53,465 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2023 · 2 entries · €4,000 awarded · €4,000 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 1 | €2,000 | €2,000 |
| 2022 | 1 | €2,000 | €2,000 |
Schemes
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €3,375 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | - | €71,964 | €94,676 | €104,302 | €114,682 | €115,777 | ▲ 1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €130,025 | €45,913 | €55,141 | €40,034 | €39,588 | €51,752 | €53,465 | ▲ 3.3% |
| Other operating charges640/8 | - | - | €2,927 | €2,659 | €2,790 | €2,610 | €2,709 | ▲ 3.8% |
| Non-recurring operating charges66A | - | - | - | - | €4,116 | €0 | €1,453 | - |
| Gross operating margin9900 | €296,071 | €248,775 | €260,498 | €227,340 | €317,747 | €297,415 | €275,738 | ▼ 7.3% |
| Operating profit (loss)9901 | €62,581 | €135,010 | €130,466 | €89,971 | €166,951 | €128,372 | €102,334 | ▼ 20.3% |
| Financial income75/76B | - | - | €46 | €0 | - | €1,236 | €380 | ▼ 69.2% |
| Recurring financial income75 | - | €0 | €46 | €0 | - | €1,236 | €380 | ▼ 69.2% |
| Financial charges65/66B | - | - | €5,635 | €6,494 | €10,875 | €12,550 | €11,287 | ▼ 10.1% |
| Recurring financial charges65 | €8,370 | €6,650 | €5,635 | €6,494 | €10,875 | €12,550 | €11,287 | ▼ 10.1% |
| Profit (loss) for the period before taxes9903 | €54,211 | €128,360 | €124,877 | €83,477 | €156,076 | €117,058 | €91,427 | ▼ 21.9% |
| Income taxes67/77 | €10,591 | €29,870 | €22,083 | €9,530 | €33,282 | €24,445 | €18,185 | ▼ 25.6% |
| Profit (loss) for the period9904 | €43,620 | €98,490 | €102,794 | €73,947 | €122,793 | €92,613 | €73,242 | ▼ 20.9% |
| Profit (loss) for the period to be appropriated9905 | €43,620 | €98,490 | €102,794 | €73,947 | €122,793 | €92,613 | €73,242 | ▼ 20.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €459,081 | €510,010 | €614,701 | €617,620 | €655,576 | €543,389 | €503,089 | ▼ 7.4% |
| Fixed assets21/28 | €296,383 | €282,598 | €293,836 | €397,513 | €417,872 | €395,254 | €353,127 | ▼ 10.7% |
| Tangible fixed assets22/27 | €296,383 | €282,598 | €293,836 | €397,513 | €417,872 | €395,254 | €353,127 | ▼ 10.7% |
| Land and buildings22 | - | - | €246,032 | €240,923 | €241,551 | €224,417 | €207,177 | ▼ 7.7% |
| Plant, machinery and equipment23 | - | - | €24,928 | €139,203 | €134,798 | €115,241 | €104,322 | ▼ 9.5% |
| Furniture and vehicles24 | - | - | €22,876 | €17,387 | €41,523 | €55,596 | €41,628 | ▼ 25.1% |
| Current assets29/58 | €162,697 | €227,412 | €320,864 | €220,107 | €237,704 | €148,134 | €149,962 | ▲ 1.2% |
| Stocks and contracts in progress3 | €10,558 | €11,782 | €12,162 | €14,179 | €14,782 | €15,922 | €15,713 | ▼ 1.3% |
| Stocks30/36 | - | - | €12,162 | €14,179 | €14,782 | €15,922 | €15,713 | ▼ 1.3% |
| Amounts receivable within one year40/41 | €10,619 | €236 | €0 | €20,261 | €1,329 | €840 | €6,929 | ▲ 725% |
| Other amounts receivable41 | - | - | €0 | €20,261 | €1,329 | €840 | €6,929 | ▲ 725% |
| Cash at bank and in hand54/58 | €141,520 | €214,403 | €307,218 | €174,138 | €218,313 | €127,990 | €123,778 | ▼ 3.3% |
| Deferred charges and accrued income490/1 | - | - | €1,485 | €11,529 | €3,280 | €3,382 | €3,543 | ▲ 4.8% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €459,081 | €510,010 | €614,701 | €617,620 | €655,576 | €543,389 | €503,089 | ▼ 7.4% |
| Equity10/15 | €62,220 | €160,710 | €263,503 | €123,245 | €150,000 | €158,113 | €65,500 | ▼ 58.6% |
| Contributions10/11 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €43,620 | €142,110 | €244,903 | €104,645 | €131,400 | €139,513 | €46,900 | ▼ 66.4% |
| Distributable reserves133 | - | - | €244,903 | €104,645 | €131,400 | €139,513 | €46,900 | ▼ 66.4% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €396,861 | €349,301 | €351,197 | €494,375 | €505,576 | €385,275 | €437,589 | ▲ 13.6% |
| Amounts payable after more than one year17 | €277,331 | €255,453 | €233,138 | €311,390 | €278,790 | €245,310 | €214,314 | ▼ 12.6% |
| Financial debts170/4 | - | - | €233,138 | €311,390 | €278,790 | €245,310 | €214,314 | ▼ 12.6% |
| Amounts payable within one year42/48 | €119,530 | €93,008 | €117,817 | €181,689 | €225,064 | €135,758 | €219,499 | ▲ 61.7% |
| Current portion of amounts payable after more than one year42 | - | - | €22,315 | €32,876 | €33,728 | €33,479 | €30,997 | ▼ 7.4% |
| Trade debts44 | €29,157 | €18,528 | €47,246 | €33,093 | €9,028 | €8,493 | €25,981 | ▲ 206% |
| Suppliers440/4 | - | - | €47,246 | €33,093 | €9,028 | €8,493 | €25,981 | ▲ 206% |
| Taxes, remuneration and social security45 | - | - | €42,615 | €20,706 | €25,829 | €28,542 | €27,055 | ▼ 5.2% |
| Taxes450/3 | - | - | €24,535 | €27 | €27 | €3,566 | €3,549 | ▼ 0.5% |
| Remuneration and social security454/9 | - | - | €18,080 | €20,679 | €25,802 | €24,976 | €23,506 | ▼ 5.9% |
| Other amounts payable47/48 | - | - | €5,640 | €95,014 | €156,478 | €65,244 | €135,466 | ▲ 108% |
| Accrued charges and deferred income492/3 | - | - | €243 | €1,296 | €1,723 | €4,207 | €3,777 | ▼ 10.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €43,620 | €98,490 | €102,794 | €73,947 | €122,793 | €92,613 | €73,242 | ▼ 20.9% |
| + Depreciation and write-downs630 | €130,025 | €45,913 | €55,141 | €40,034 | €39,588 | €51,752 | €53,465 | ▲ 3.3% |
| Operating cash flow (approximation) | €173,645 | €144,403 | €157,935 | €113,982 | €162,381 | €144,365 | €126,707 | ▼ 12.2% |
| Investment in fixed assets (approximation) | - | -€32,128 | -€66,379 | -€143,712 | -€59,947 | -€29,134 | -€11,338 | ▲ 61.1% |
| Change in cash | - | €72,883 | €92,815 | -€133,080 | €44,175 | -€90,323 | -€4,212 | ▲ 95.3% |
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, 6,713 companies had the same profile as DOUX has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
95.8%
was still going
2.2%
stopped otherwise
1.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DOUX itself: 0.6% 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 6,713 companies, not a prediction for DOUX. 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.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 05-06-2026 | 2026-00139407 | |
| 31-12-2024 | micro format | 06-03-2025 | 2025-00044125 | |
| 31-12-2023 | micro format | 30-04-2024 | 2024-00074067 | |
| 31-12-2022 | micro format | 08-05-2023 | 2023-00082026 | |
| 31-12-2021 | micro format | 05-04-2022 | 2022-20000408 | |
| 31-12-2020 | micro format | 18-03-2021 | 2021-07700069 | |
| 31-12-2019 | micro format | 18-06-2020 | 2020-17600480 |