DRONGEN E40
ActiveSummary
DRONGEN E40 has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.75M and a net result of €62k. Equity remains stable across the filed fiscal years (±2.3% per year). Its solvency ranks better than 94% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability71=
Solvency100=
Growth52=
Track record94
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €200k at 30 days acceptable
Liquidity ample (current ratio 17.08 against 7.69 in 2024; short-term debt: 0.4% and cash: 1.8% of total assets), and 4.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
95.8%
Return on assets
2.2%
Age of the figures
9 mo
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 15-07-2026, 16 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
16 d early
2024
17 d early
2023
16 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€2.75M▲ 2.3%
2024 · €2.69M
2023: €2.63Mlowest in 3 years
2024: €2.69M▲ +2.3% vs 2023
2025: €2.75M▲ +2.3% vs 2024highest in 3 years
2023 → 2025
Total assets
€2.87M▲ 1.8%
2024 · €2.82M
2023: €2.86M
2024: €2.82M▼ -1.2% vs 2023lowest in 3 years
2025: €2.87M▲ +1.8% vs 2024highest in 3 years
2023 → 2025
Net result
€62k▲ 2.5%
2024 · €61k
2023: €65khighest in 3 years
2024: €61k▼ -6.2% vs 2023lowest in 3 years
2025: €62k▲ +2.5% vs 2024
2023 → 2025
Working capital
€201k▲ 88.4%
2024 · €107k
2023: €14klowest in 3 years
2024: €107k▲ +668% vs 2023
2025: €201k▲ +88.4% vs 2024highest in 3 years
2023 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€2.63M-€2.69M▲ 2.3%€2.75M▲ 2.3%
2023: €2.63Mlowest in 3 years
2024: €2.69M▲ +2.3% vs 2023
2025: €2.75M▲ +2.3% vs 2024highest in 3 years
Operating result€58k-€79k▲ 36.5%€82k▲ 3.8%
2023: €58klowest in 3 years
2024: €79k▲ +36.5% vs 2023
2025: €82k▲ +3.8% vs 2024highest in 3 years
Net result€65k-€61k▼ 6.2%€62k▲ 2.5%
2023: €65khighest in 3 years
2024: €61k▼ -6.2% vs 2023lowest in 3 years
2025: €62k▲ +2.5% vs 2024
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2025 is 4% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.87M
Fixed assets
€2.66M ▼ 1.5%
Current assets
€214k ▲ 74.1%
Equity and liabilities €2.87M
Equity
€2.75M ▲ 2.3%
Provisions
€108k ▼ 6.5%
Debt
€13k ▼ 21.6%
Debt's share of the balance-sheet total falls from 0.6% to 0.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€122k▲
2024 · €119k
Cash flow
€102k▲
2024 · €100k
Current ratio
17.08▲
2024 · 7.69
Debt to equity
0.00▼
2024 · 0.01
ROE
2.3%▲
2024 · 2.2%
ROA
2.2%▲
2024 · 2.1%
Interest coverage
675.44▼
2024 · 2320.33
Debt ≤ 1 year
€13k▼
2024 · €16k
Income taxes
€28k▲
2024 · €28k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€2.82M€2.87M▲
Fixed assets21/28€2.70M€2.66M▼
Tangible fixed assets22/27€2.70M€2.66M▼
Land and buildings22€2.70M€2.66M▼
Current assets29/58€123k€214k▲
Amounts receivable within one year40/41€77k€162k▲
Trade receivables40€17k€11k▼
Other amounts receivable41€60k€150k▲
Cash at bank and in hand54/58€46k€52k▲
Equity and liabilities
Total equity and liabilities10/49€2.82M€2.87M▲
Equity10/15€2.69M€2.75M▲
Contributions10/11€2.14M€2.14M=
Reserves13€552k€614k▲
Non-distributable reserves130/1€17k€17k=
Other1319€17k€17k=
Tax-exempt reserves132€230k€208k▼
Distributable reserves133€306k€390k▲
Provisions and deferred taxes16€116k€108k▼
Deferred taxes168€116k€108k▼
Amounts payable17/49€16k€13k▼
Amounts payable within one year42/48€16k€13k▼
Trade debts44€5k€4k▼
Suppliers440/4€5k€4k▼
Advances received on contracts in progress46€10k-
Taxes, remuneration and social security45€718€8k▲
Taxes450/3€718€8k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€40k€40k=
Other operating charges640/8€15k€16k▲
Gross operating margin9900€134k€138k▲
Operating profit (loss)9901€79k€82k▲
Financial income75/76B€2k€737▼
Recurring financial income75€2k€737▼
Financial charges65/66B€51€181▲
Recurring financial charges65€51€181▲
Profit (loss) for the period before taxes9903€81k€83k▲
Transfer from deferred taxes780€7k€7k=
Income taxes67/77€28k€28k▲
Profit (loss) for the period9904€61k€62k▲
Transfer from tax-exempt reserves789€22k€22k=
Profit (loss) for the period to be appropriated9905€83k€85k▲
Appropriation of the result
Profit (loss) to be appropriated9906€83k€85k▲
Transfer to equity691/2€83k€85k▲
To other reserves6921€83k€85k▲
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €40k | €40k | €40k | = |
| Other operating charges640/8 | €543 | €15k | €16k | ▲ 5.7% |
| Gross operating margin9900 | €99k | €134k | €138k | ▲ 2.9% |
| Operating profit (loss)9901 | €58k | €79k | €82k | ▲ 3.8% |
| Financial income75/76B | - | €2k | €737 | ▼ 53.8% |
| Recurring financial income75 | - | €2k | €737 | ▼ 53.8% |
| Financial charges65/66B | €355 | €51 | €181 | ▲ 252% |
| Recurring financial charges65 | €355 | €51 | €181 | ▲ 252% |
| Profit (loss) for the period before taxes9903 | €58k | €81k | €83k | ▲ 2.5% |
| Transfer from deferred taxes780 | €7k | €7k | €7k | = |
| Income taxes67/77 | €718 | €28k | €28k | ▲ 1.9% |
| Profit (loss) for the period9904 | €65k | €61k | €62k | ▲ 2.5% |
| Transfer from tax-exempt reserves789 | €22k | €22k | €22k | = |
| Profit (loss) for the period to be appropriated9905 | €87k | €83k | €85k | ▲ 1.8% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €2.86M | €2.82M | €2.87M | ▲ 1.8% |
| Fixed assets21/28 | €2.74M | €2.70M | €2.66M | ▼ 1.5% |
| Tangible fixed assets22/27 | €2.74M | €2.70M | €2.66M | ▼ 1.5% |
| Land and buildings22 | €2.74M | €2.70M | €2.66M | ▼ 1.5% |
| Current assets29/58 | €117k | €123k | €214k | ▲ 74.1% |
| Amounts receivable within one year40/41 | €117k | €77k | €162k | ▲ 109% |
| Trade receivables40 | - | €17k | €11k | ▼ 33.2% |
| Other amounts receivable41 | €117k | €60k | €150k | ▲ 149% |
| Cash at bank and in hand54/58 | €167 | €46k | €52k | ▲ 14.7% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €2.86M | €2.82M | €2.87M | ▲ 1.8% |
| Equity10/15 | €2.63M | €2.69M | €2.75M | ▲ 2.3% |
| Contributions10/11 | €2.14M | €2.14M | €2.14M | = |
| Reserves13 | €492k | €552k | €614k | ▲ 11.2% |
| Non-distributable reserves130/1 | €17k | €17k | €17k | = |
| Reserves not available under the articles1311 | €17k | - | - | - |
| Other1319 | - | €17k | €17k | = |
| Tax-exempt reserves132 | €252k | €230k | €208k | ▼ 9.8% |
| Distributable reserves133 | €223k | €306k | €390k | ▲ 27.6% |
| Provisions and deferred taxes16 | €123k | €116k | €108k | ▼ 6.5% |
| Deferred taxes168 | €123k | €116k | €108k | ▼ 6.5% |
| Amounts payable17/49 | €103k | €16k | €13k | ▼ 21.6% |
| Amounts payable within one year42/48 | €103k | €16k | €13k | ▼ 21.6% |
| Trade debts44 | €16k | €5k | €4k | ▼ 19.7% |
| Suppliers440/4 | €16k | €5k | €4k | ▼ 19.7% |
| Advances received on contracts in progress46 | - | €10k | - | - |
| Taxes, remuneration and social security45 | €718 | €718 | €8k | ▲ 1,057% |
| Taxes450/3 | €718 | €718 | €8k | ▲ 1,057% |
| Other amounts payable47/48 | €86k | - | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €65k | €61k | €62k | ▲ 2.5% |
| + Depreciation and write-downs630 | €40k | €40k | €40k | = |
| Operating cash flow (approximation) | €104k | €100k | €102k | ▲ 1.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - |
| Change in cash | - | €45k | €7k | ▼ 85.2% |
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
11-09
State Gazette act
Appointment: NV Callens Vandelanotte (statutory auditor)Power of attorney3 facts ▸
State Gazette act
Appointment: NV Callens Vandelanotte (statutory auditor)
Power of attorney3 facts ▸
- General meeting, 26-06-2026
- Auditor appointment, NV Callens Vandelanotte (statutory auditor)
- Power of attorney, Dries Devroe
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Liquidity doublescurrent ratio 17.08
Current ratio from 7.69 to 17.08; short-term debt falls from €16k to €13k.
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €61k ▼6.2%
Net result drops to €61k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 7current ratio 7.69
Current ratio from 1.14 to 7.69; short-term debt falls from €103k to €16k.
15-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 5 acts read
About the unread acts
Of the 5 Belgian State Gazette acts we know for this company, 1 has been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
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.
Location & real-estate footprint
Registered office, Oostende
Ground area
4.1 ha
Building footprint
3,356 m²
Volume, LiDAR
19,427 m³
Parcel 35026A0050/00S002, Flanders · tallest building 7.2 m, ±2 floors. Linked by address, not a title deed.
21
companies at this address
See who is registered here
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35026A0050/00S002 | Flanders | 4.1 ha | 1 · 3,356 m² | 7.2 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Statutory auditor
1 auditor| NV Callens VandelanotteCurrent Statutory auditor | 11-09-2026 → present |
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Of 12,020 companies in sector 68203 we hold annual accounts for 5,986. 3,321 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
Founded25-10-2022
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
Scores and ratios are computed by Checked and are not a credit decision.