DSH-IMMO
ActiveFinancials · financial year 2026, micro format
Annual accounts 2026 filed on 10-07-2026 at the NBB all 37 filings
Every figure per financial year
The operating result for 2026 is a loss of €4,470, after a profit of €2.4m in 2025. It is the lowest result since 2019.
- 2025 Net result +9,027% on 2024. The 2025 profit included a one-off income of €2,522,215.
- 2024 Net result -94% on 2023. The 2023 profit included a one-off income of €269,814.
- 2022 Net result +98% on 2021. The 2022 profit included a one-off income of €664,769.
Turnover and EBIT margin are not published. The micro format does not require them.
Investments
| Item | 31-01-2022 | 31-01-2023 | 31-01-2024 | 31-01-2025 | 31-01-2026 |
|---|---|---|---|---|---|
| Financial fixed assets | - | - | - | €23,961 | - |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €0.7m | €0.3m | - | €2.5m | - | - |
| Other operating charges640/8 | - | - | €0.006m | €0.006m | €0.007m | €0.007m | €0.001m | ▼ 92.1% |
| Gross operating margin9900 | €0.05m | €0.06m | €0.7m | €0.3m | €0.05m | €2.4m | -€0.004m | - |
| Operating profit (loss)9901 | €0.05m | €0.05m | €0.7m | €0.3m | €0.04m | €2.4m | -€0.004m | - |
| Financial income75/76B | - | - | €0.1m | €0.1m | - | - | - | - |
| Recurring financial income75 | €0.1m | €0.3m | €0.1m | €0.1m | - | - | - | - |
| Financial charges65/66B | - | - | €66 | €24 | €0.01m | €0.1m | €36 | ▼ 100.0% |
| Recurring financial charges65 | €0.001m | €0.001m | €66 | €24 | €0.01m | €29 | €36 | ▲ 26.3% |
| Non-recurring financial charges66B | - | - | - | - | - | €0.1m | - | - |
| Profit (loss) for the period before taxes9903 | €0.1m | €0.3m | €0.8m | €0.4m | €0.03m | €2.2m | -€0.005m | - |
| Income taxes67/77 | €0.01m | €0.01m | €0.2m | €0.08m | €0.008m | €0.2m | -€12 | - |
| Profit (loss) for the period9904 | €0.1m | €0.3m | €0.6m | €0.4m | €0.02m | €2.1m | -€0.004m | - |
| Profit (loss) for the period to be appropriated9905 | €0.1m | €0.3m | €0.6m | €0.4m | €0.02m | €2.1m | -€0.004m | - |
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.5m | €1.7m | €0.8m | €0.8m | €0.8m | €2.2m | €0.08m | ▼ 96.4% |
| Fixed assets21/28 | €1.4m | €1.4m | €0.6m | €0.6m | €0.6m | €0.02m | - | - |
| Tangible fixed assets22/27 | €0.08m | €0.08m | €0.04m | €0.02m | €0.02m | - | - | - |
| Land and buildings22 | - | - | €0.04m | €0.02m | €0.02m | - | - | - |
| Financial fixed assets28 | €1.4m | €1.4m | €0.6m | €0.6m | €0.6m | €0.02m | - | - |
| Current assets29/58 | €0.06m | €0.3m | €0.2m | €0.2m | €0.1m | €2.2m | €0.08m | ▼ 96.4% |
| Amounts receivable within one year40/41 | €0.04m | €0.2m | €0.1m | €0.2m | €0.1m | €0.3m | €0.07m | ▼ 74.2% |
| Other amounts receivable41 | - | - | €0.1m | €0.2m | €0.1m | €0.3m | €0.07m | ▼ 74.2% |
| Cash at bank and in hand54/58 | €0.02m | €0.1m | €0.04m | €0.03m | €0.04m | €1.9m | €0.01m | ▼ 99.4% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.5m | €1.7m | €0.8m | €0.8m | €0.8m | €2.2m | €0.08m | ▼ 96.4% |
| Equity10/15 | €1.4m | €0.5m | €0.5m | €0.5m | €0.5m | €0.05m | €0.04m | ▼ 9.1% |
| Contributions10/11 | €0.02m | - | - | - | - | - | - | - |
| Revaluation surpluses12 | - | - | €0.5m | €0.5m | €0.5m | - | - | - |
| Reserves13 | €0.5m | €0.01m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Distributable reserves133 | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Profit (loss) carried forward14 | €0.4m | €296 | €118 | €377 | €0.003m | €0.02m | €0.02m | ▼ 22.3% |
| Amounts payable17/49 | €0.1m | €1.2m | €0.3m | €0.4m | €0.3m | €2.2m | €0.03m | ▼ 98.4% |
| Amounts payable within one year42/48 | €0.1m | €1.2m | €0.3m | €0.4m | €0.3m | €2.2m | €0.03m | ▼ 98.4% |
| Trade debts44 | - | - | - | - | - | €0.08m | €0.03m | ▼ 59.8% |
| Suppliers440/4 | - | - | - | - | - | €0.08m | €0.03m | ▼ 59.8% |
| Taxes, remuneration and social security45 | - | - | €0.3m | €0.4m | €0.3m | €0.008m | - | - |
| Taxes450/3 | - | - | €0.002m | €0.002m | €0.008m | €0.008m | - | - |
| Remuneration and social security454/9 | - | - | €0.3m | €0.4m | €0.2m | - | - | - |
| Other amounts payable47/48 | - | - | - | - | - | €2.1m | - | - |
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.1m | €0.3m | €0.6m | €0.4m | €0.02m | €2.1m | -€0.004m | - |
| Operating cash flow (approximation) | €0.1m | €0.3m | €0.6m | €0.4m | €0.02m | €2.1m | -€0.004m | - |
| Investment in fixed assets (approximation) | - | - | €0.8m | €0.02m | €0 | €0.6m | - | - |
| Change in cash | - | - | -€0.06m | -€0.008m | €0.01m | €1.9m | -€1.9m | - |
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, 12,322 companies had the same profile as DSH-IMMO has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DSH-IMMO itself: 0.3% 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 12,322 companies, not a prediction for DSH-IMMO. 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 37 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-01-2026 | micro format | 10-07-2026 | 2026-00308858 | |
| 31-01-2025 | micro format | 22-06-2025 | 2025-00177267 | |
| 31-01-2024 | micro format | 28-09-2024 | 2024-00481525 | |
| 31-01-2023 | micro format | 28-09-2023 | 2023-00462300 | |
| 31-01-2022 | micro format | 30-11-2022 | 2022-20531124 | |
| 31-01-2021 | micro format | 31-07-2021 | 2021-46200010 | |
| 31-10-2019 | micro format | 11-01-2020 | 2020-01400085 | |
| 31-10-2018 | micro format | 31-01-2019 | 2019-03800242 | |
| 31-10-2017 | full format | 20-12-2017 | 2017-72500327 | |
| 31-10-2016 | full format | 30-12-2016 | 2016-72300198 |