Druet Engineering
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 01-07-2026 at the NBB all 20 filings
Turnover
≈ €180,000
Estimated: probably between €140,000 and €250,000
Total assets
€65,201▼ 30.3%
2024 · €93,547
Net result
€4,656▼ 88.9%
2024 · €41,933
Working capital
€30,738▼ 18.6%
2024 · €37,750
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€9,114
▼ 84.1%
2025
20182025
Net result
€4,656
▼ 88.9%
2025
middle half of the sector
20182025
Equity
€33,465
▼ 16.8%
2025
middle half of the sector
20182025
Total assets
€65,201
▼ 30.3%
2025
middle half of the sector
20182025
Debt
€31,736
▼ 40.5%
2025
20182025
Working capital
€30,738
▼ 18.6%
2025
middle half of the sector
20182025
Solvency
51.3%
▲ 8.3pp
2025
middle half of the sector
20182025
Current ratio
1.97
▲ 0.26
2025
middle half of the sector
20182025
Return on assets (ROA)
7.1%
▼ 37.7pp
2025
middle half of the sector
20182025
Staff (FTE)
1
=
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€2,812-€5,352▲ 90.3%€4,673▼ 12.7%€2,261▼ 51.6%-€63€54,590€57,429▲ 5.2%€9,114▼ 84.1%
Net result€1,931-€3,435▲ 77.9%€3,783within the sector's middle half▲ 10.1%€2,863within the sector's middle half▼ 24.3%-€379below the sector's middle half€39,379within the sector's middle half€41,933within the sector's middle half▲ 6.5%€4,656within the sector's middle half▼ 88.9%
Equity€33,153-€36,588▲ 10.4%€30,371within the sector's middle half▼ 17.0%€21,234below the sector's middle half▼ 30.1%€8,855below the sector's middle half▼ 58.3%€19,734below the sector's middle half▲ 123%€40,238within the sector's middle half▲ 104%€33,465within the sector's middle half▼ 16.8%
Total assets€34,366-€39,803▲ 15.8%€43,668below the sector's middle half▲ 9.7%€39,250below the sector's middle half▼ 10.1%€36,003below the sector's middle half▼ 8.3%€91,024within the sector's middle half▲ 153%€93,547within the sector's middle half▲ 2.8%€65,201within the sector's middle half▼ 30.3%
Debt€1,213-€3,215▲ 165%€13,297▲ 314%€18,016▲ 35.5%€27,148▲ 50.7%€71,291▲ 163%€53,309▼ 25.2%€31,736▼ 40.5%
Working capital€33,153-€36,588▲ 10.4%€30,371within the sector's middle half▼ 17.0%€21,234within the sector's middle half▼ 30.1%€8,248within the sector's middle half▼ 61.2%€17,885within the sector's middle half▲ 117%€37,750within the sector's middle half▲ 111%€30,738within the sector's middle half▼ 18.6%
Solvency96.5%-91.9%▼ 4.5pp69.5%within the sector's middle half▼ 22.4pp54.1%within the sector's middle half▼ 15.5pp24.6%below the sector's middle half▼ 29.5pp21.7%below the sector's middle half▼ 2.9pp43.0%within the sector's middle half▲ 21.3pp51.3%within the sector's middle half▲ 8.3pp
Current ratio28.33-12.38▼ 15.953.28within the sector's middle half▼ 9.102.18within the sector's middle half▼ 1.111.30within the sector's middle half▼ 0.871.25within the sector's middle half▼ 0.051.71within the sector's middle half▲ 0.461.97within the sector's middle half▲ 0.26
Return on assets (ROA)5.6%-8.6%▲ 3.0pp8.7%within the sector's middle half=7.3%within the sector's middle half▼ 1.4pp-1.1%below the sector's middle half▼ 8.3pp43.3%above the sector's middle half▲ 44.3pp44.8%above the sector's middle half▲ 1.6pp7.1%within the sector's middle half▼ 37.7pp
Staff (FTE)0.81▲ 25.0%1=1=
above
within
below
The sector band is the middle half of the companies in Architectural and engineering activities; technical testing and analysis (NACE 71). 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 84% lower than in 2024.
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 €65,201
Fixed assets
€2,727 ▲ 9.6%
Current assets
€62,474 ▼ 31.4%
Equity and liabilities €65,201
Equity
€33,465 ▼ 16.8%
Debt
€31,736 ▼ 40.5%
Debt's share of the balance-sheet total falls from 57.0% to 48.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€10,419▼
2024 · €58,705
Cash flow
€5,961▼
2024 · €43,208
Debt to equity
0.95▼
2024 · 1.32
ROE
13.9%▼
2024 · 104.2%
Interest coverage
12.41▼
2024 · over 100
Debt ≤ 1 year
€31,736▼
2024 · €53,309
Income taxes
€3,618▼
2024 · €15,378
Staff costs
€72,972▲
2024 · €70,613
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 |
| full-time | 1 | 1 | 1 | 1 |
| in full-time equivalents | 1 | 1 | 1 | 1 |
| Average over the year, in full-time equivalents | 0.8 | 1 | 1 | 1 |
| On a permanent contract | 1 | 1 | 1 | 1 |
| Joined | 1 | - | - | - |
| Left | 0 | - | - | - |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €654 | €1,687 | €1,915 | €1,543 |
| Financial fixed assets | - | €180 | - | - | - |
| Depreciation and write-downs of the year | - | €170 | €503 | €1,276 | €1,305 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €50,518 | €70,923 | €70,613 | €72,972 | ▲ 3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €170 | €503 | €1,276 | €1,305 | ▲ 2.3% |
| Other operating charges640/8 | - | - | - | €348 | €348 | €384 | €387 | €500 | ▲ 29.0% |
| Gross operating margin9900 | €2,983 | €6,047 | €5,021 | €2,608 | €50,973 | €126,400 | €129,706 | €83,890 | ▼ 35.3% |
| Operating profit (loss)9901 | €2,812 | €5,352 | €4,673 | €2,261 | -€63 | €54,590 | €57,429 | €9,114 | ▼ 84.1% |
| Financial income75/76B | - | - | - | €1,785 | €636 | €517 | €268 | - | - |
| Recurring financial income75 | - | - | €484 | €1,785 | €636 | €517 | €268 | - | - |
| Financial charges65/66B | - | - | - | €141 | €348 | €383 | €387 | €840 | ▲ 117% |
| Recurring financial charges65 | - | - | - | €141 | €348 | €383 | €387 | €840 | ▲ 117% |
| Non-recurring financial charges66B | - | - | - | €141 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €2,812 | €5,011 | €5,157 | €3,905 | €225 | €54,723 | €57,311 | €8,274 | ▼ 85.6% |
| Income taxes67/77 | €881 | €1,576 | €1,374 | €1,042 | €604 | €15,344 | €15,378 | €3,618 | ▼ 76.5% |
| Profit (loss) for the period9904 | €1,931 | €3,435 | €3,783 | €2,863 | -€379 | €39,379 | €41,933 | €4,656 | ▼ 88.9% |
| Profit (loss) for the period to be appropriated9905 | €1,931 | €3,435 | €3,783 | €2,863 | -€379 | €39,379 | €41,933 | €4,656 | ▼ 88.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €34,366 | €39,803 | €43,668 | €39,250 | €36,003 | €91,024 | €93,547 | €65,201 | ▼ 30.3% |
| Fixed assets21/28 | - | - | - | - | €664 | €1,849 | €2,488 | €2,727 | ▲ 9.6% |
| Tangible fixed assets22/27 | - | - | - | - | €484 | €1,669 | €2,308 | €2,547 | ▲ 10.3% |
| Furniture and vehicles24 | - | - | - | - | €484 | €1,669 | €2,308 | €1,059 | ▼ 54.1% |
| Other tangible fixed assets26 | - | - | - | - | - | - | - | €1,488 | - |
| Financial fixed assets28 | - | - | - | - | €180 | €180 | €180 | €180 | = |
| Current assets29/58 | €34,366 | €39,803 | €43,668 | €39,250 | €35,339 | €89,176 | €91,059 | €62,474 | ▼ 31.4% |
| Amounts receivable after more than one year29 | - | - | - | €34,366 | €22,466 | €14,066 | - | - | - |
| Other amounts receivable291 | - | - | - | €34,366 | €22,466 | €14,066 | - | - | - |
| Amounts receivable within one year40/41 | €34,366 | €39,072 | €8,203 | €3,075 | €9,618 | €40,701 | €12,733 | €5,549 | ▼ 56.4% |
| Trade receivables40 | - | - | - | €3,075 | €8,946 | €40,701 | €12,733 | €5,549 | ▼ 56.4% |
| Other amounts receivable41 | - | - | - | - | €672 | - | - | - | - |
| Cash at bank and in hand54/58 | - | €731 | €1,099 | €24 | €3,003 | €31,762 | €77,604 | €43,857 | ▼ 43.5% |
| Deferred charges and accrued income490/1 | - | - | - | €1,785 | €252 | €2,646 | €722 | €13,068 | ▲ 18× |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €34,366 | €39,803 | €43,668 | €39,250 | €36,003 | €91,024 | €93,547 | €65,201 | ▼ 30.3% |
| Equity10/15 | €33,153 | €36,588 | €30,371 | €21,234 | €8,855 | €19,734 | €40,238 | €33,465 | ▼ 16.8% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €6,516 | ▲ 250% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | - | - | - | €1,860 | €6,516 | ▲ 250% |
| Profit (loss) carried forward14 | €25,093 | €28,528 | €22,311 | €13,174 | €795 | €11,674 | €32,178 | €20,749 | ▼ 35.5% |
| Amounts payable17/49 | €1,213 | €3,215 | €13,297 | €18,016 | €27,148 | €71,291 | €53,309 | €31,736 | ▼ 40.5% |
| Amounts payable within one year42/48 | €1,213 | €3,215 | €13,297 | €18,016 | €27,091 | €71,291 | €53,309 | €31,736 | ▼ 40.5% |
| Trade debts44 | - | €758 | €348 | €412 | €4,706 | €5,542 | €3,711 | €3,613 | ▼ 2.6% |
| Suppliers440/4 | - | - | - | €412 | €1,631 | €2,467 | €3,711 | €3,613 | ▼ 2.6% |
| Bills of exchange payable441 | - | - | - | - | €3,075 | €3,075 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €2,411 | €9,861 | €36,724 | €25,831 | €12,792 | ▼ 50.5% |
| Taxes450/3 | - | - | - | €2,411 | €3,281 | €27,180 | €16,152 | €2,905 | ▼ 82.0% |
| Remuneration and social security454/9 | - | - | - | - | €6,580 | €9,544 | €9,679 | €9,887 | ▲ 2.1% |
| Other amounts payable47/48 | - | - | - | €15,193 | €12,525 | €29,025 | €23,768 | €15,332 | ▼ 35.5% |
| Accrued charges and deferred income492/3 | - | - | - | - | €57 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,931 | €3,435 | €3,783 | €2,863 | -€379 | €39,379 | €41,933 | €4,656 | ▼ 88.9% |
| + Depreciation and write-downs630 | - | - | - | - | €170 | €503 | €1,276 | €1,305 | ▲ 2.3% |
| Operating cash flow (approximation) | €1,931 | €3,435 | €3,783 | €2,863 | -€209 | €39,882 | €43,208 | €5,961 | ▼ 86.2% |
| Investment in fixed assets (approximation) | - | - | - | - | - | -€1,687 | -€1,915 | -€1,543 | ▲ 19.4% |
| Change in cash | - | - | €368 | -€1,075 | €2,979 | €28,759 | €45,842 | -€33,747 | - |
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, 31,368 companies had the same profile as Druet Engineering has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Druet Engineering itself: < 0.1% 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 31,368 companies, not a prediction for Druet Engineering. 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 20 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 01-07-2026 | 2026-00244612 | |
| 31-12-2024 | micro format | 29-08-2025 | 2025-00443759 | |
| 31-12-2023 | micro format | 29-08-2024 | 2024-00412027 | |
| 31-12-2022 | micro format | 30-08-2023 | 2023-00401811 | |
| 31-12-2021 | micro format | 12-08-2022 | 2022-20289700 | |
| 31-12-2020 | micro format | 05-08-2021 | 2021-46500245 | |
| 31-12-2019 | micro format | 03-09-2020 | 2020-50500150 | |
| 31-12-2018 | micro format | 21-08-2019 | 2019-48300036 | |
| 31-12-2017 | micro format | 01-08-2018 | 2018-42500223 | |
| 31-12-2016 | micro format | 18-08-2017 | 2017-44400105 |