DSIB PROJECTS
ActiveSummary
DSIB PROJECTS has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€125,192) and a net result of -€47,860. Equity has been shrinking by about 92% per year since 2022. Its solvency ranks better than 11% of 17,162 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 12-08-2022 Normal situation
- Activity
- Development of residential building projects NACE 68121and 5 others
- Establishment unit
- 2.335.211.553 2860 Sint-Katelijne-Waver, since 12-08-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 08-06-2026
Board and ownership
- Ingmar BEULLENSDirector
- BEULLENS Ingmar Hans Johan50 sharesdeed of 17-08-2022
- STOYOV David50 sharesdeed of 17-08-2022
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.4%
- Gross margin
- €9,650
- Turnover
- ≈ €40,000
- estimated
- Loss
- €47,860
- ▼ 16.3%
- Equity
- -€125,192
- ▼ 61.9%
- Total assets
- €841,361
- ▼ 5.4%
- Negative equity on 31-12-2025
Score breakdownraises riskCapped at 59: negative equityNegative equity -€125,192Loss of €47,860, the second in a row (financial year 2025)lowers riskSize: total assets €841,361Sector: Real estate activities (NACE 68)Show the evidence
Checked score
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 11% of them on solvency, 59% on liquidity, 14% on profitability and 10% on growth.
The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 4 accounts on average 2 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 26-07-2026 at the NBB all 4 filings
Every figure per financial year
The operating result for 2025 is a loss of €47,680, larger than the loss of €37,165 in 2024. It is the lowest result since 2022.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €8,992 | €833,051 | - |
| Intangible fixed assets | €1,087 | - | - | - |
| Depreciation and write-downs of the year | €1,087 | €325 | €27,042 | €27,042 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €330 awarded · €330 paid| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,087 | €325 | €27,042 | €27,042 | = |
| Other operating charges640/8 | €93 | €1,671 | €3,660 | €30,288 | ▲ 728% |
| Gross operating margin9900 | -€1,878 | -€6,705 | -€6,462 | €9,650 | - |
| Operating profit (loss)9901 | -€3,057 | -€8,701 | -€37,165 | -€47,680 | ▼ 28.3% |
| Financial income75/76B | - | - | €20 | - | - |
| Recurring financial income75 | - | - | €20 | - | - |
| Financial charges65/66B | €954 | €12,469 | €20,005 | €180 | ▼ 99.1% |
| Recurring financial charges65 | €954 | €12,469 | €20,005 | €180 | ▼ 99.1% |
| Profit (loss) for the period before taxes9903 | -€4,011 | -€21,170 | -€57,150 | -€47,860 | ▲ 16.3% |
| Profit (loss) for the period9904 | -€4,011 | -€21,170 | -€57,150 | -€47,860 | ▲ 16.3% |
| Profit (loss) for the period to be appropriated9905 | -€4,011 | -€21,170 | -€57,150 | -€47,860 | ▲ 16.3% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €380,871 | €757,221 | €889,449 | €841,361 | ▼ 5.4% |
| Fixed assets21/28 | - | €8,667 | €814,675 | €787,633 | ▼ 3.3% |
| Intangible fixed assets21 | €0 | - | - | - | - |
| Tangible fixed assets22/27 | - | €8,667 | €814,675 | €787,633 | ▼ 3.3% |
| Land and buildings22 | - | - | €807,807 | €782,563 | ▼ 3.1% |
| Furniture and vehicles24 | - | €8,667 | €6,869 | €5,070 | ▼ 26.2% |
| Current assets29/58 | €380,871 | €748,554 | €74,774 | €53,728 | ▼ 28.1% |
| Stocks and contracts in progress3 | €373,769 | €699,919 | - | - | - |
| Stocks30/36 | €373,769 | €699,919 | - | - | - |
| Amounts receivable within one year40/41 | €1,250 | €42,354 | €40,518 | €39,273 | ▼ 3.1% |
| Other amounts receivable41 | €1,250 | €42,354 | €40,518 | €39,273 | ▼ 3.1% |
| Cash at bank and in hand54/58 | €5,852 | €6,068 | €33,951 | €14,085 | ▼ 58.5% |
| Deferred charges and accrued income490/1 | - | €213 | €305 | €370 | ▲ 21.6% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €380,871 | €757,221 | €889,449 | €841,361 | ▼ 5.4% |
| Equity10/15 | €989 | -€20,181 | -€77,332 | -€125,192 | ▼ 61.9% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | -€4,011 | -€25,181 | -€82,332 | -€130,192 | ▼ 58.1% |
| Amounts payable17/49 | €379,883 | €777,402 | €966,781 | €966,553 | = |
| Amounts payable after more than one year17 | €379,871 | €776,959 | €958,521 | €958,521 | = |
| Financial debts170/4 | €229,871 | €427,159 | - | - | - |
| Other amounts payable178/9 | €150,000 | €349,800 | €958,521 | €958,521 | = |
| Amounts payable within one year42/48 | €12 | €444 | €8,260 | €8,032 | ▼ 2.8% |
| Trade debts44 | €12 | €326 | €8,143 | €7,914 | ▼ 2.8% |
| Suppliers440/4 | €12 | €326 | €8,143 | €7,914 | ▼ 2.8% |
| Other amounts payable47/48 | - | €118 | €118 | €118 | = |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,011 | -€21,170 | -€57,150 | -€47,860 | ▲ 16.3% |
| + Depreciation and write-downs630 | €1,087 | €325 | €27,042 | €27,042 | = |
| Operating cash flow (approximation) | -€2,924 | -€20,845 | -€30,108 | -€20,818 | ▲ 30.9% |
| Investment in fixed assets (approximation) | - | - | -€833,051 | €0 | - |
| Change in cash | - | €216 | €27,883 | -€19,867 | - |
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, 1,251 companies had the same profile as DSIB PROJECTS has now. Two years later, 96.6% were still going and 1.0% had gone bankrupt.
- Small
- 2 to 5 years old
- negative equity
- a small loss
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DSIB PROJECTS itself: 0.4% 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 1,251 companies, not a prediction for DSIB PROJECTS. 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.
Board & ownership
Directors
Owners and capital
Shareholders
- BEULLENS Ingmar Hans Johan 50 shares (50%) · €2,500
- STOYOV David 50 shares (50%) · €2,500
Capital transactions
- 17-08-2022 Incorporation · €5,000 · 100 shares
Mandate history
- Board
- mandate already running before its first mention
| Name | Functions and periods |
|---|---|
| Ingmar BEULLENS |
|
| David STOYOV |
|
Network & group
Connections & network
See the function holders in the KBO register.
Timeline
Deeds, filings and financial milestones
13-11
Gazette deed
Resignation: David STOYOV (director)3 points ▸
- General meeting, 20-10-2023
- Director resignation, David STOYOV
- Director in office, Ingmar BEULLENS
17-08
Gazette deed
IncorporationFounding capital of €5,000, 100 shares · Founders: BEULLENS Ingmar Hans Johan and STOYOV David · Founder: BEULLENS Ingmar Hans Johan5 points ▸
- Power of attorney, Denitsa Georgieva (gemachtigde van de vennootschap)
- Incorporation, 05-08-2022
- Founder, BEULLENS Ingmar Hans Johan
- Founder, STOYOV David
- Founding capital, euro 5.000, 100 shares
- The deed holds 3 more points.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0789.630.874
Financial year and general meeting
Accounts at the NBBEnvironmental permits
Source: Omgevingsloket Vlaanderen.
Sites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 12422C0313/00V003 | Flanders | 1,006 m² | 1 · 222 m² | 9.3 m · 2 |