DRLW
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 15-07-2026 at the NBB all 3 filings
Every figure per financial year
The operating result for 2025 is 47% higher than in 2024 and the highest since 2023. It is the second rise 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.
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €20,455 | €15,500 | €7,776 |
| Financial fixed assets | - | - | €0 |
| Depreciation and write-downs of the year | €3,892 | €3,713 | €4,670 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,892 | €3,713 | €4,670 | ▲ 25.8% |
| Other operating charges640/8 | €669 | €586 | €501 | ▼ 14.6% |
| Non-recurring operating charges66A | - | €2,059 | €0 | ▼ 100% |
| Gross operating margin9900 | €36,122 | €67,978 | €95,686 | ▲ 40.8% |
| Operating profit (loss)9901 | €31,561 | €61,619 | €90,516 | ▲ 46.9% |
| Financial income75/76B | - | €3 | €0 | ▼ 100% |
| Recurring financial income75 | - | €3 | €0 | ▼ 100% |
| Financial charges65/66B | €33 | €1,811 | €1,339 | ▼ 26.1% |
| Recurring financial charges65 | €33 | €1,811 | €1,339 | ▼ 26.1% |
| Profit (loss) for the period before taxes9903 | €31,528 | €59,811 | €89,177 | ▲ 49.1% |
| Income taxes67/77 | €6,958 | €12,399 | €18,257 | ▲ 47.2% |
| Profit (loss) for the period9904 | €24,570 | €47,412 | €70,920 | ▲ 49.6% |
| Profit (loss) for the period to be appropriated9905 | €24,570 | €47,412 | €70,920 | ▲ 49.6% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €49,640 | €111,650 | €185,972 | ▲ 66.6% |
| Fixed assets21/28 | €17,863 | €12,774 | €15,880 | ▲ 24.3% |
| Tangible fixed assets22/27 | €17,863 | €12,774 | €15,880 | ▲ 24.3% |
| Furniture and vehicles24 | €17,863 | €12,774 | €8,616 | ▼ 32.5% |
| Other tangible fixed assets26 | - | - | €7,264 | - |
| Current assets29/58 | €31,777 | €98,876 | €170,091 | ▲ 72.0% |
| Amounts receivable within one year40/41 | €1,337 | €0 | - | - |
| Trade receivables40 | €1,337 | €0 | - | - |
| Cash at bank and in hand54/58 | €28,646 | €94,747 | €167,753 | ▲ 77.1% |
| Deferred charges and accrued income490/1 | €1,794 | €4,129 | €2,339 | ▼ 43.4% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €49,640 | €111,650 | €185,972 | ▲ 66.6% |
| Equity10/15 | €28,070 | €75,482 | €146,402 | ▲ 94.0% |
| Contributions10/11 | €3,500 | €3,500 | €3,500 | = |
| Profit (loss) carried forward14 | €24,570 | €71,982 | €142,902 | ▲ 98.5% |
| Amounts payable17/49 | €21,570 | €36,168 | €39,570 | ▲ 9.4% |
| Amounts payable after more than one year17 | - | €8,682 | €4,762 | ▼ 45.2% |
| Financial debts170/4 | - | €8,682 | €4,762 | ▼ 45.2% |
| Amounts payable within one year42/48 | €21,570 | €27,487 | €34,808 | ▲ 26.6% |
| Current portion of amounts payable after more than one year42 | - | €3,776 | €3,920 | ▲ 3.8% |
| Trade debts44 | €357 | €0 | - | - |
| Suppliers440/4 | €357 | €0 | - | - |
| Taxes, remuneration and social security45 | €6,958 | €12,399 | €30,656 | ▲ 147% |
| Taxes450/3 | €6,958 | €12,399 | €30,656 | ▲ 147% |
| Other amounts payable47/48 | €14,255 | €11,311 | €232 | ▼ 97.9% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,570 | €47,412 | €70,920 | ▲ 49.6% |
| + Depreciation and write-downs630 | €3,892 | €3,713 | €4,670 | ▲ 25.8% |
| Operating cash flow (approximation) | €28,462 | €51,125 | €75,590 | ▲ 47.9% |
| Investment in fixed assets (approximation) | - | €1,376 | -€7,776 | - |
| Change in cash | - | €66,100 | €73,006 | ▲ 10.4% |
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, 39,278 companies had the same profile as DRLW has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DRLW 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 39,278 companies, not a prediction for DRLW. 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.