DSC
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 30 days after the deadline Filed on 30 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00454713.
Annual accounts 2025 filed on 30-08-2026 at the NBB all 16 filings
Equity
€1,061▼ 91.1%
2024 · €11,970
Total assets
€35,968▼ 16.8%
2024 · €43,252
Net result
-€10,909
2024 · €4,466
Working capital
-€20,455
2024 · €31,659
In the rankings
#9 oldest company in Mortsel, Telecoms and IT sector
Multi-year overview
2018 to 2025, 7 financial yearsOperating result
-€8,907
2025
20182025
Net result
-€10,909
2025
lowest quarter of the sector
20182025
Equity
€1,061
▼ 91.1%
2025
lowest quarter of the sector
20182025
Total assets
€35,968
▼ 16.8%
2025
lowest quarter of the sector
20182025
Debt
€34,907
▲ 11.6%
2025
20182025
Working capital
-€20,455
2025
lowest quarter of the sector
20182025
Solvency
3.0%
▼ 24.7pp
2025
lowest quarter of the sector
20182025
Current ratio
0.36
▼ 3.37
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-30.3%
▼ 40.7pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220242025
Operating result€27,859--€12,975-€23,712▼ 82.8%€23,482€38,659▲ 64.6%€17,980--€8,907
Net result€22,804--€15,482-€36,086below the sector's middle half▼ 133%€17,711within the sector's middle half€36,491within the sector's middle half▲ 106%€4,466below the sector's middle half--€10,909below the sector's middle half
Equity-€17,025--€32,507▼ 90.9%-€68,593below the sector's middle half▼ 111%-€50,882below the sector's middle half▲ 25.8%-€14,391below the sector's middle half▲ 71.7%€11,970below the sector's middle half-€1,061below the sector's middle half▼ 91.1%
Total assets€86,396-€92,197▲ 6.7%€2,792below the sector's middle half▼ 97.0%€3,541below the sector's middle half▲ 26.8%€1,479below the sector's middle half▼ 58.2%€43,252below the sector's middle half-€35,968below the sector's middle half▼ 16.8%
Debt€103,421-€124,704▲ 20.6%€71,384▼ 42.8%€54,423▼ 23.8%€15,869▼ 70.8%€31,283-€34,907▲ 11.6%
Working capital-€42,761--€32,843▲ 23.2%-€69,237below the sector's middle half▼ 111%-€51,269below the sector's middle half▲ 26.0%-€14,475below the sector's middle half▲ 71.8%€31,659within the sector's middle half--€20,455below the sector's middle half
Solvency-19.7%--35.3%▼ 15.6pp27.7%below the sector's middle half-3.0%below the sector's middle half▼ 24.7pp
Current ratio0.59-0.74▲ 0.153.73within the sector's middle half-0.36below the sector's middle half▼ 3.37
Return on assets (ROA)26.4%--16.8%▼ 43.2pp10.3%within the sector's middle half--30.3%below the sector's middle half▼ 40.7pp
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 a loss of €8,907, after a profit of €17,980 in 2024. It is the lowest result since 2020.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €35,968
Fixed assets
€24,368
Current assets
€11,600
Equity and liabilities €35,968
Equity
€1,061 ▼ 91.1%
Debt
€34,907 ▲ 11.6%
Debt's share of the balance-sheet total rises from 72.3% to 97.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€5,567
Cash flow
-€7,569
Debt to equity
32.90▲
2024 · 2.61
Interest coverage
-2.97
Debt ≤ 1 year
€32,055▲
2024 · €11,593
Debt > 1 year
€2,852▼
2024 · €19,689
Income taxes
€195▼
2024 · €13,117
A ratio outside any meaningful range has been withheld (balance sheet total €35,968, equity €1,061).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €27,708 |
| Depreciation and write-downs of the year | €258 | €303 | - | €3,340 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €400 | €400 | €560 | €258 | €303 | - | €3,340 | - |
| Other operating charges640/8 | - | - | - | €3,594 | €57 | - | €670 | - |
| Gross operating margin9900 | €29,234 | -€11,680 | -€22,462 | €27,333 | €39,018 | €17,980 | -€4,897 | - |
| Operating profit (loss)9901 | €27,859 | -€12,975 | -€23,712 | €23,482 | €38,659 | €17,980 | -€8,907 | - |
| Financial income75/76B | - | - | - | - | - | €1,728 | €69 | ▼ 96.0% |
| Recurring financial income75 | - | €40 | €5 | - | - | €1,728 | €69 | ▼ 96.0% |
| Financial charges65/66B | - | - | - | €5,771 | €2,168 | €2,125 | €1,877 | ▼ 11.7% |
| Recurring financial charges65 | €5,055 | €2,547 | €12,378 | €5,771 | €2,168 | €2,125 | €1,877 | ▼ 11.7% |
| Profit (loss) for the period before taxes9903 | €22,804 | -€15,482 | -€36,086 | €17,711 | €36,491 | €17,583 | -€10,714 | - |
| Income taxes67/77 | - | - | - | - | - | €13,117 | €195 | ▼ 98.5% |
| Profit (loss) for the period9904 | €22,804 | -€15,482 | -€36,086 | €17,711 | €36,491 | €4,466 | -€10,909 | - |
| Profit (loss) for the period to be appropriated9905 | €22,804 | -€15,482 | -€36,086 | €17,711 | €36,491 | €4,466 | -€10,909 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €86,396 | €92,197 | €2,792 | €3,541 | €1,479 | €43,252 | €35,968 | ▼ 16.8% |
| Fixed assets21/28 | €25,736 | €336 | €644 | €387 | €84 | €0 | €24,368 | - |
| Intangible fixed assets21 | - | - | - | - | - | €0 | €0 | - |
| Tangible fixed assets22/27 | €736 | €336 | €644 | €387 | €84 | €0 | €24,368 | - |
| Plant, machinery and equipment23 | - | - | - | €219 | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €168 | €84 | €0 | €24,368 | - |
| Financial fixed assets28 | €25,000 | - | - | - | - | - | - | - |
| Current assets29/58 | €60,660 | €91,861 | €2,147 | €3,154 | €1,395 | €43,252 | €11,600 | ▼ 73.2% |
| Amounts receivable within one year40/41 | €60,561 | €91,253 | €1,113 | €2,541 | €336 | €42,501 | €7,804 | ▼ 81.6% |
| Trade receivables40 | - | - | - | €2,541 | €336 | €13,097 | €7,480 | ▼ 42.9% |
| Other amounts receivable41 | - | - | - | - | - | €29,405 | €323 | ▼ 98.9% |
| Cash at bank and in hand54/58 | €99 | €579 | €984 | €613 | €1,058 | €751 | €3,796 | ▲ 405% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €86,396 | €92,197 | €2,792 | €3,541 | €1,479 | €43,252 | €35,968 | ▼ 16.8% |
| Equity10/15 | -€17,025 | -€32,507 | -€68,593 | -€50,882 | -€14,391 | €11,970 | €1,061 | ▼ 91.1% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | €18,600 | - | - | - | - |
| Issued capital100 | - | - | - | €18,600 | - | - | - | - |
| Contributions outside capital11 | - | - | - | - | €18,600 | - | - | - |
| Other1109/19 | - | - | - | - | €18,600 | - | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - |
| Legal reserve130 | - | - | - | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | -€37,485 | -€52,967 | -€89,053 | -€71,342 | -€34,851 | -€8,490 | -€19,399 | ▼ 128% |
| Amounts payable17/49 | €103,421 | €124,704 | €71,384 | €54,423 | €15,869 | €31,283 | €34,907 | ▲ 11.6% |
| Amounts payable after more than one year17 | - | - | - | - | - | €19,689 | €2,852 | ▼ 85.5% |
| Financial debts170/4 | - | - | - | - | - | €19,689 | €2,852 | ▼ 85.5% |
| Amounts payable within one year42/48 | €103,421 | €124,704 | €71,384 | €54,423 | €15,869 | €11,593 | €32,055 | ▲ 176% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | €4,070 | - |
| Trade debts44 | €7,334 | €30,488 | €16,840 | €605 | €1,829 | €3,389 | €6,187 | ▲ 82.6% |
| Suppliers440/4 | - | - | - | €605 | €1,829 | €3,389 | €6,187 | ▲ 82.6% |
| Advances received on contracts in progress46 | - | - | - | €7,800 | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €3,906 | €11,888 | €8,205 | €885 | ▼ 89.2% |
| Taxes450/3 | - | - | - | €3,906 | €11,888 | €8,205 | €885 | ▼ 89.2% |
| Other amounts payable47/48 | - | - | - | €42,113 | €2,152 | - | €20,913 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €22,804 | -€15,482 | -€36,086 | €17,711 | €36,491 | €4,466 | -€10,909 | - |
| + Depreciation and write-downs630 | €400 | €400 | €560 | €258 | €303 | - | €3,340 | - |
| Operating cash flow (approximation) | €23,204 | -€15,082 | -€35,526 | €17,968 | €36,794 | €4,466 | -€7,569 | - |
| Investment in fixed assets (approximation) | - | €25,000 | -€868 | €0 | €0 | - | -€27,708 | - |
| Change in cash | - | €479 | €406 | -€371 | €445 | - | €3,045 | - |
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, 642 companies had the same profile as DSC has now. Two years later, 89.9% were still going and 3.6% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency under 10%
- a loss of 10% of the balance sheet or more
89.9%
was still going
5.5%
stopped otherwise
3.6%
went bankrupt
Another 1.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of DSC itself is lower: 0.6% within 12 months. It rests on far more data about DSC than the profile alone.
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 642 companies, not a prediction for DSC. 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 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-08-2026 | 2026-00454713 | |
| 31-12-2024 | micro format | 29-09-2025 | 2025-00510494 | |
| 31-12-2022 | micro format | 17-11-2023 | 2023-00512687 | |
| 31-12-2021 | micro format | 01-11-2022 | 2022-20480039 | |
| 31-12-2020 | micro format | 31-10-2021 | 2021-76200278 | |
| 31-12-2019 | micro format | 02-07-2021 | 2021-29900255 | |
| 31-12-2018 | micro format | 22-12-2020 | 2020-76700353 | |
| 31-12-2016 | micro format | 16-03-2018 | 2018-07100176 | |
| 31-12-2015 | abbreviated format | 26-10-2016 | 2016-66200500 | |
| 31-12-2014 | abbreviated format | 18-09-2015 | 2015-59000183 |