DRAGOFLAM
ActiveSummary
DRAGOFLAM has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €291,707 and a net result of €87,115. Equity is shrinking by ~11.3% per year across the filed fiscal years. Its solvency ranks better than 61% of 8160 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability89▲+7
Solvency80▲+10
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €22,000 at 30 days acceptable
Liquidity ample (current ratio 2.49 against 2.3 in 2024; short-term debt: 30% and cash: 0% of total assets), and 45.2% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
54.8%
Return on assets
16.4%
Age of the figures
9 mo
raises risk · 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
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €291,707
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 13-07-2026, 18 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
18 d early
2024
36 d early
2023
1 d early
2022
40 d early
2021
18 d early
2020
11 d early
2019
30 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 22 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · 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. Usually files around 13 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€291,707▲ 42.6%
2024 · €204,592
Total assets
€531,944▲ 17.0%
2024 · €454,671
Net result
€87,115▲ 77.0%
2024 · €49,223
Working capital
€237,135▲ 43.5%
2024 · €165,204
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€67,046▼ 34.3%€50,867▼ 24.1%€71,409▲ 40.4%€88,102▲ 23.4%€145,892▲ 65.6%
Net result€30,333above the sector's middle half▼ 47.1%€16,370within the sector's middle half▼ 46.0%€32,142within the sector's middle half▲ 96.3%€49,223within the sector's middle half▲ 53.1%€87,115within the sector's middle half▲ 77.0%
Equity€246,685above the sector's middle half▼ 45.5%€179,857above the sector's middle half▼ 27.1%€155,369within the sector's middle half▼ 13.6%€204,592within the sector's middle half▲ 31.7%€291,707within the sector's middle half▲ 42.6%
Total assets€768,687above the sector's middle half▼ 2.2%€561,624above the sector's middle half▼ 26.9%€458,343below the sector's middle half▼ 18.4%€454,671below the sector's middle half▼ 0.8%€531,944within the sector's middle half▲ 17.0%
Debt€522,002▲ 56.7%€381,767▼ 26.9%€302,973▼ 20.6%€250,079▼ 17.5%€240,237▼ 3.9%
Working capital€216,435above the sector's middle half▼ 48.6%€142,277above the sector's middle half▼ 34.3%€117,613within the sector's middle half▼ 17.3%€165,204within the sector's middle half▲ 40.5%€237,135within the sector's middle half▲ 43.5%
Solvency32.1%within the sector's middle half▼ 25.5pp32.0%within the sector's middle half▼ 0.1pp33.9%within the sector's middle half▲ 1.9pp45.0%within the sector's middle half▲ 11.1pp54.8%within the sector's middle half▲ 9.8pp
Current ratio1.69within the sector's middle half▼ 3.561.68within the sector's middle half▼ 0.011.75within the sector's middle half▲ 0.072.30within the sector's middle half▲ 0.552.49within the sector's middle half▲ 0.19
Return on assets (ROA)3.9%within the sector's middle half▼ 3.4pp2.9%within the sector's middle half▼ 1.0pp7.0%within the sector's middle half▲ 4.1pp10.8%above the sector's middle half▲ 3.8pp16.4%above the sector's middle half▲ 5.6pp
Staff (FTE)3.33within the sector's middle half▼ 9.1%2within the sector's middle half▼ 33.3%2within the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 66% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €531,944
Fixed assets
€135,423 ▼ 16.7%
Current assets
€396,520 ▲ 35.8%
Equity and liabilities €531,944
Equity
€291,707 ▲ 42.6%
Debt
€240,237 ▼ 3.9%
Debt's share of the balance-sheet total falls from 55.0% to 45.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€175,704▲
2024 · €116,974
Cash flow
€116,928▲
2024 · €78,094
Debt to equity
0.82▼
2024 · 1.22
ROE
29.9%▲
2024 · 24.1%
Interest coverage
12.38▲
2024 · 8.62
Debt ≤ 1 year
€159,385▲
2024 · €126,807
Debt > 1 year
€80,852▼
2024 · €113,472
Income taxes
€44,581▲
2024 · €25,532
Staff costs
€243,523▼
2024 · €247,374
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,349 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,349 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €270,626 | €275,915 | €321,674 | €247,374 | €243,523 | ▼ 1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,370 | €28,487 | €28,673 | €28,871 | €29,813 | ▲ 3.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €6,004 | €0 | ▼ 100% |
| Other operating charges640/8 | €1,183 | €2,681 | €2,637 | €2,568 | €2,633 | ▲ 2.5% |
| Gross operating margin9900 | €368,225 | €357,951 | €424,393 | €372,920 | €421,860 | ▲ 13.1% |
| Operating profit (loss)9901 | €67,046 | €50,867 | €71,409 | €88,102 | €145,892 | ▲ 65.6% |
| Financial income75/76B | €159 | €114 | €237 | €220 | €0 | ▼ 100.0% |
| Recurring financial income75 | €159 | €114 | €237 | €220 | €0 | ▼ 100.0% |
| Financial charges65/66B | €18,717 | €19,985 | €16,338 | €13,568 | €14,196 | ▲ 4.6% |
| Recurring financial charges65 | €18,717 | €19,985 | €16,338 | €13,568 | €14,196 | ▲ 4.6% |
| Profit (loss) for the period before taxes9903 | €48,487 | €30,997 | €55,308 | €74,754 | €131,696 | ▲ 76.2% |
| Income taxes67/77 | €18,154 | €14,626 | €23,167 | €25,532 | €44,581 | ▲ 74.6% |
| Profit (loss) for the period9904 | €30,333 | €16,370 | €32,142 | €49,223 | €87,115 | ▲ 77.0% |
| Profit (loss) for the period to be appropriated9905 | €30,333 | €16,370 | €32,142 | €49,223 | €87,115 | ▲ 77.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €768,687 | €561,624 | €458,343 | €454,671 | €531,944 | ▲ 17.0% |
| Fixed assets21/28 | €238,513 | €210,778 | €183,837 | €162,660 | €135,423 | ▼ 16.7% |
| Tangible fixed assets22/27 | €238,513 | €210,778 | €183,837 | €162,660 | €135,423 | ▼ 16.7% |
| Land and buildings22 | €200,001 | €177,774 | €155,547 | €133,320 | €111,093 | ▼ 16.7% |
| Plant, machinery and equipment23 | €5,546 | €4,023 | €3,139 | €4,424 | €4,320 | ▼ 2.4% |
| Furniture and vehicles24 | €530 | €187 | €0 | €3,407 | €2,145 | ▼ 37.0% |
| Other tangible fixed assets26 | €32,438 | €28,795 | €25,151 | €21,508 | €17,865 | ▼ 16.9% |
| Current assets29/58 | €530,174 | €350,846 | €274,506 | €292,011 | €396,520 | ▲ 35.8% |
| Stocks and contracts in progress3 | €5,206 | €5,906 | €6,004 | €0 | - | - |
| Stocks30/36 | €5,206 | €5,906 | €6,004 | €0 | - | - |
| Amounts receivable within one year40/41 | €518,330 | €335,090 | €259,363 | €288,404 | €395,946 | ▲ 37.3% |
| Trade receivables40 | €20,680 | €5,934 | €14,040 | €16,925 | €12,454 | ▼ 26.4% |
| Other amounts receivable41 | €497,650 | €329,156 | €245,322 | €271,479 | €383,492 | ▲ 41.3% |
| Cash at bank and in hand54/58 | €1,261 | €1,807 | €9,139 | €41 | €119 | ▲ 188% |
| Deferred charges and accrued income490/1 | €5,378 | €8,043 | €0 | €3,566 | €455 | ▼ 87.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €768,687 | €561,624 | €458,343 | €454,671 | €531,944 | ▲ 17.0% |
| Equity10/15 | €246,685 | €179,857 | €155,369 | €204,592 | €291,707 | ▲ 42.6% |
| Contributions10/11 | €14,255 | €14,255 | €14,255 | €14,255 | €14,255 | = |
| Reserves13 | €232,430 | €165,602 | €141,114 | €190,337 | €277,452 | ▲ 45.8% |
| Non-distributable reserves130/1 | €1,859 | €1,859 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,859 | €1,859 | €0 | - | - | - |
| Distributable reserves133 | €230,571 | €163,743 | €141,114 | €190,337 | €277,452 | ▲ 45.8% |
| Profit (loss) carried forward14 | - | - | €0 | €0 | - | - |
| Amounts payable17/49 | €522,002 | €381,767 | €302,973 | €250,079 | €240,237 | ▼ 3.9% |
| Amounts payable after more than one year17 | €201,638 | €173,198 | €144,218 | €113,472 | €80,852 | ▼ 28.7% |
| Financial debts170/4 | €201,638 | €173,198 | €144,218 | €113,472 | €80,852 | ▼ 28.7% |
| Amounts payable within one year42/48 | €313,739 | €208,569 | €156,892 | €126,807 | €159,385 | ▲ 25.7% |
| Current portion of amounts payable after more than one year42 | €30,646 | €28,440 | €28,980 | €30,746 | €32,620 | ▲ 6.1% |
| Financial debts43 | €35,257 | €26,445 | €0 | €22,040 | €30,506 | ▲ 38.4% |
| Credit institutions430/8 | €35,257 | €26,445 | €0 | €22,040 | €30,506 | ▲ 38.4% |
| Trade debts44 | €46,318 | €23,896 | €16,405 | €15,421 | €32,843 | ▲ 113% |
| Suppliers440/4 | €46,318 | €23,896 | €16,405 | €15,421 | €32,843 | ▲ 113% |
| Taxes, remuneration and social security45 | €67,135 | €63,272 | €57,676 | €58,596 | €63,412 | ▲ 8.2% |
| Taxes450/3 | €30,547 | €30,144 | €20,689 | €29,211 | €44,290 | ▲ 51.6% |
| Remuneration and social security454/9 | €36,588 | €33,128 | €36,987 | €29,385 | €19,122 | ▼ 34.9% |
| Other amounts payable47/48 | €134,383 | €66,515 | €53,831 | €4 | €4 | = |
| Accrued charges and deferred income492/3 | €6,625 | - | €1,863 | €9,800 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €30,333 | €16,370 | €32,142 | €49,223 | €87,115 | ▲ 77.0% |
| + Depreciation and write-downs630 | €29,370 | €28,487 | €28,673 | €28,871 | €29,813 | ▲ 3.3% |
| Operating cash flow (approximation) | €59,703 | €44,858 | €60,815 | €78,094 | €116,928 | ▲ 49.7% |
| Investment in fixed assets (approximation) | - | -€752 | -€1,732 | -€7,694 | -€2,576 | ▲ 66.5% |
| Change in cash | - | €546 | €7,332 | -€9,098 | €78 | ▲ 101% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
13-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €87,115 ▲77%
Operating result €145,892, net result €87,115, both a record.
25-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Equity above €200,000Eq €204,592 ▲31.7%
7 profitable years in a row build equity to €204,592.
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
01-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet €3,056 ▼94.6%
Net result drops to €3,056, the lowest in the series; recovery starts the following year.
18-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
17-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
27-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Tienen · 1 establishment unit since 1998
Ground area
2,952 m²
Building footprint
287 m²
Volume, LiDAR
2,166 m³
2 parcels, Flanders, Wallonia · tallest building 11.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Rue Saint-Job, Neerh. 44, 1357 Hélécine
since 19982.088.217.681
2 parcels
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24031C0381/00L000 | Flanders | 2,001 m² | 1 · 211 m² | 11.9 m · 3 fl. |
| 25069A0809/00G000 | Wallonia | 951 m² | 1 · 75 m² | 9.2 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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AIRMASTER
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Of 473 companies in sector 46842 we hold annual accounts for 347. 260 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded20-08-1998
Fiscal year end31-12
Activities, NACEBEL 2025
46842Wholesale trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0463973863
Also
9925:BE0463973863
Registered
18-12-2024
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.