DS MANAGEMENT
ActiveSummary
DS MANAGEMENT has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.03M and a net result of €80k. Equity is growing by ~8.2% per year across the filed fiscal years. Its solvency ranks better than 50% of 37953 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability74▲+3
Solvency83▲+5
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €80k at 30 days acceptable
Liquidity short (current ratio 0.75 against 0.81 in 2023; short-term debt: 35.5% and cash: 22.5% of total assets), and 41.8% 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○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2024Solvency, return and age of the figures
Solvency
58.2%
Return on assets
4.6%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 19-06-2025, 42 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
42 d early
2023
41 d early
2022
48 d early
2021
45 d early
2020
47 d early
2019
42 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2024, micro schema
Equity
€1.03M▲ 5.7%
2023 · €974k
Total assets
€1.77M▼ 4.5%
2023 · €1.85M
Net result
€80k▼ 3.3%
2023 · €83k
Working capital
€-156k▼ 29.9%
2023 · €-120k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€496k▲ 7.5%€555k▲ 12.0%€278k▼ 50.0%€154k▼ 44.4%€148k▼ 4.2%
Net result€326k▲ 2.4%€388k▲ 19.2%€226k▼ 41.9%€83k▼ 63.1%€80k▼ 3.3%
Equity€752k▲ 20.0%€890k▲ 18.3%€916k▲ 2.9%€974k▲ 6.4%€1.03M▲ 5.7%
Total assets€2.48M▼ 11.0%€2.47M▼ 0.2%€2.41M▼ 2.4%€1.85M▼ 23.3%€1.77M▼ 4.5%
Debt€1.73M▼ 20.0%€1.58M▼ 8.4%€1.50M▼ 5.4%€878k▼ 41.4%€739k▼ 15.8%
Working capital€-458k▲ 21.0%€-140k▲ 69.5%€-170k▼ 21.7%€-120k▲ 29.3%€-156k▼ 29.9%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2024 is 4% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.77M
Fixed assets
€1.30M ▼ 2.5%
Current assets
€472k ▼ 9.5%
Equity and liabilities €1.77M
Equity
€1.03M ▲ 5.7%
Debt
€739k ▼ 15.8%
Debt's share of the balance-sheet total falls from 47.4% to 41.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€264k▼
2023 · €266k
Cash flow
€196k▲
2023 · €195k
Current ratio
0.75▼
2023 · 0.81
Debt to equity
0.72▼
2023 · 0.90
ROE
7.8%▼
2023 · 8.5%
ROA
4.6%▲
2023 · 4.5%
Interest coverage
6.08▲
2023 · 5.65
Debt ≤ 1 year
€628k▼
2023 · €642k
Debt > 1 year
€73k▼
2023 · €197k
Income taxes
€24k▼
2023 · €24k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €314k | €323k | €112k | €112k | €116k | ▲ 3.7% |
| Other operating charges640/8 | - | €29k | €29k | €31k | €34k | ▲ 8.1% |
| Gross operating margin9900 | €838k | €906k | €419k | €298k | €298k | = |
| Operating profit (loss)9901 | €496k | €555k | €278k | €154k | €148k | ▼ 4.2% |
| Financial charges65/66B | - | €37k | €39k | €47k | €43k | ▼ 7.9% |
| Recurring financial charges65 | €45k | €37k | €39k | €47k | €43k | ▼ 7.9% |
| Profit (loss) for the period before taxes9903 | €451k | €518k | €238k | €107k | €105k | ▼ 2.6% |
| Income taxes67/77 | €126k | €130k | €13k | €24k | €24k | ▼ 0.5% |
| Profit (loss) for the period9904 | €326k | €388k | €226k | €83k | €80k | ▼ 3.3% |
| Profit (loss) for the period to be appropriated9905 | €326k | €388k | €226k | €83k | €80k | ▼ 3.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.48M | €2.47M | €2.41M | €1.85M | €1.77M | ▼ 4.5% |
| Fixed assets21/28 | €1.80M | €1.50M | €1.44M | €1.33M | €1.30M | ▼ 2.5% |
| Intangible fixed assets21 | €213k | - | - | - | - | - |
| Tangible fixed assets22/27 | €1.59M | €1.50M | €1.44M | €1.33M | €1.30M | ▼ 2.5% |
| Land and buildings22 | - | €1.41M | €1.33M | €1.24M | €1.15M | ▼ 7.0% |
| Plant, machinery and equipment23 | - | €48k | €51k | €43k | €113k | ▲ 159% |
| Furniture and vehicles24 | - | €40k | €61k | €45k | €29k | ▼ 35.9% |
| Financial fixed assets28 | €84 | €84 | €84 | €84 | €84 | = |
| Current assets29/58 | €676k | €970k | €974k | €522k | €472k | ▼ 9.5% |
| Amounts receivable within one year40/41 | €73k | €82k | €51k | €14k | €63k | ▲ 349% |
| Trade receivables40 | - | €82k | €51k | €14k | €63k | ▲ 349% |
| Cash at bank and in hand54/58 | €596k | €882k | €913k | €498k | €398k | ▼ 19.9% |
| Deferred charges and accrued income490/1 | - | €6k | €10k | €10k | €11k | ▲ 3.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.48M | €2.47M | €2.41M | €1.85M | €1.77M | ▼ 4.5% |
| Equity10/15 | €752k | €890k | €916k | €974k | €1.03M | ▲ 5.7% |
| Contributions10/11 | €200k | €200k | €200k | €200k | €200k | = |
| Capital10 | - | €200k | €200k | €200k | €200k | = |
| Issued capital100 | - | €200k | €200k | €200k | €200k | = |
| Reserves13 | €552k | €690k | €716k | €774k | €829k | ▲ 7.2% |
| Non-distributable reserves130/1 | - | €20k | €20k | €20k | €20k | = |
| Legal reserve130 | - | €20k | €20k | €20k | €20k | = |
| Distributable reserves133 | - | €670k | €696k | €754k | €809k | ▲ 7.4% |
| Amounts payable17/49 | €1.73M | €1.58M | €1.50M | €878k | €739k | ▼ 15.8% |
| Amounts payable after more than one year17 | €563k | €442k | €320k | €197k | €73k | ▼ 63.0% |
| Financial debts170/4 | - | €442k | €320k | €197k | €73k | ▼ 63.0% |
| Amounts payable within one year42/48 | €1.13M | €1.11M | €1.14M | €642k | €628k | ▼ 2.2% |
| Current portion of amounts payable after more than one year42 | - | €121k | €122k | €123k | €124k | ▲ 0.9% |
| Trade debts44 | €9k | €9k | €7k | €7k | €27k | ▲ 312% |
| Suppliers440/4 | - | €9k | €7k | €7k | €27k | ▲ 312% |
| Taxes, remuneration and social security45 | - | €21k | €31k | €39k | €49k | ▲ 26.2% |
| Taxes450/3 | - | €21k | €31k | €39k | €49k | ▲ 26.2% |
| Other amounts payable47/48 | - | €959k | €984k | €474k | €428k | ▼ 9.6% |
| Accrued charges and deferred income492/3 | - | €31k | €34k | €39k | €38k | ▼ 2.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €326k | €388k | €226k | €83k | €80k | ▼ 3.3% |
| + Depreciation and write-downs630 | €314k | €323k | €112k | €112k | €116k | ▲ 3.7% |
| Operating cash flow (approximation) | €640k | €711k | €337k | €195k | €196k | ▲ 0.7% |
| Investment in fixed assets (approximation) | - | €-22k | €-49k | €-2k | €-82k | ▼ 4,521% |
| Change in cash | - | €285k | €31k | €-415k | €-99k | ▲ 76.1% |
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
2025
19-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €80k ▼3.3%
Net result drops to €80k, the lowest in the series.
31-12
Financial
Equity above €1MEq €1.03M ▲5.7%
7 profitable years in a row build equity to €1.03M.
20-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
16-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €388k ▲19.2%
Operating result €555k, net result €388k, both a record.
14-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
19-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
18-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
22-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
15-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
20-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Merchtem · 1 establishment unit since 2011
Ground area
1.5 ha
Building footprint
3,340 m²
Volume, LiDAR
17,830 m³
Parcel 23012A0160/00Z000, Flanders · tallest building 8.1 m, ±2 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
Brusselsesteenweg 220, 1785 Merchtem
since 20112.203.204.352
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23012A0160/00Z000 | Flanders | 1.5 ha | 1 · 3,340 m² | 8.1 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.
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Of 82,632 companies in sector 70200 we hold annual accounts for 52,587. 27,524 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded13-07-2011
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
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.