DSJ
ActiveSummary
DSJ has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €117,632 and a net result of €1,713. Equity is growing by ~2.9% per year across the filed fiscal years. Its solvency ranks better than 69% of 28184 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability70▲+4
Solvency90▲+7
Growth52=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity tight (current ratio 1.4 against 1.12 in 2024; short-term debt: 35.2% and cash: 2.3% of total assets), and 35.2% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
64.8%
Return on assets
0.9%
Age of the figures
12 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 08-04-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 d early
2024
30 d early
2023
26 d early
2022
34 d early
2021
33 d early
2020
32 d early
2019
31 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 30 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€117,632▲ 1.5%
2024 · €115,919
Total assets
€181,461▼ 8.6%
2024 · €198,588
Net result
€1,713
2024 · -€3,940
Working capital
€25,597▲ 168%
2024 · €9,534
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€19,728▼ 7.8%€8,010▼ 59.4%-€17,484-€2,557▲ 85.4%€4,472
Net result€13,648within the sector's middle half▼ 44.6%€5,894within the sector's middle half▼ 56.8%-€19,108below the sector's middle half-€3,940below the sector's middle half▲ 79.4%€1,713within the sector's middle half
Equity€133,072above the sector's middle half▲ 11.4%€138,966above the sector's middle half▲ 4.4%€119,859within the sector's middle half▼ 13.7%€115,919within the sector's middle half▼ 3.3%€117,632within the sector's middle half▲ 1.5%
Total assets€281,351within the sector's middle half▲ 16.4%€275,448within the sector's middle half▼ 2.1%€198,730within the sector's middle half▼ 27.9%€198,588within the sector's middle half▼ 0.1%€181,461within the sector's middle half▼ 8.6%
Debt€148,279▲ 21.2%€136,482▼ 8.0%€78,871▼ 42.2%€82,670▲ 4.8%€63,830▼ 22.8%
Working capital€14,690▲ 424%€5,453▼ 62.9%-€1,796€9,534€25,597▲ 168%
Solvency47.3%within the sector's middle half▼ 2.1pp50.5%within the sector's middle half▲ 3.2pp60.3%within the sector's middle half▲ 9.9pp58.4%within the sector's middle half▼ 1.9pp64.8%within the sector's middle half▲ 6.5pp
Staff (FTE)1.9▼ 36.7%1.8▼ 5.3%1.8=1.8=1.8=
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €4,472 after a loss of €2,557 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €181,461
Fixed assets
€92,034 ▼ 17.3%
Current assets
€89,427 ▲ 2.4%
Equity and liabilities €181,461
Equity
€117,632 ▲ 1.5%
Debt
€63,830 ▼ 22.8%
Debt's share of the balance-sheet total falls from 41.6% to 35.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€24,706▲
2024 · €21,610
Cash flow
€21,947▲
2024 · €20,227
Current ratio
1.40▲
2024 · 1.12
Quick ratio
0.92▲
2024 · 0.70
Debt to equity
0.54▼
2024 · 0.71
ROE
1.5%▲
2024 · -3.4%
ROA
0.9%▲
2024 · -2.0%
Interest coverage
13.75▲
2024 · 13.67
Debt ≤ 1 year
€63,830▼
2024 · €77,809
Income taxes
€1,411
Staff costs
€75,013▼
2024 · €98,823
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 10,905 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.6%
went bankrupt
4.0%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 10,905 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €2,645 | - | - | - | - |
| Remuneration, social security and pensions62 | - | €84,853 | €82,064 | €98,823 | €75,013 | ▼ 24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,800 | €20,354 | €24,289 | €24,167 | €20,234 | ▼ 16.3% |
| Other operating charges640/8 | - | €1,000 | €958 | €1,420 | €728 | ▼ 48.7% |
| Gross operating margin9900 | €118,862 | €114,216 | €89,827 | €121,853 | €100,447 | ▼ 17.6% |
| Operating profit (loss)9901 | €19,728 | €8,010 | -€17,484 | -€2,557 | €4,472 | ▲ 275% |
| Financial income75/76B | - | €226 | €737 | €198 | €449 | ▲ 127% |
| Recurring financial income75 | €612 | €226 | €737 | €198 | €449 | ▲ 127% |
| Financial charges65/66B | - | €2,342 | €2,360 | €1,581 | €1,797 | ▲ 13.7% |
| Recurring financial charges65 | €4,904 | €2,342 | €2,360 | €1,581 | €1,797 | ▲ 13.7% |
| Profit (loss) for the period before taxes9903 | €15,436 | €5,894 | -€19,108 | -€3,940 | €3,124 | ▲ 179% |
| Income taxes67/77 | €1,787 | - | - | - | €1,411 | - |
| Profit (loss) for the period9904 | €13,648 | €5,894 | -€19,108 | -€3,940 | €1,713 | ▲ 143% |
| Profit (loss) for the period to be appropriated9905 | €13,648 | €5,894 | -€19,108 | -€3,940 | €1,713 | ▲ 143% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €281,351 | €275,448 | €198,730 | €198,588 | €181,461 | ▼ 8.6% |
| Fixed assets21/28 | €128,996 | €159,024 | €134,735 | €111,245 | €92,034 | ▼ 17.3% |
| Tangible fixed assets22/27 | €128,996 | €159,024 | €134,735 | €111,245 | €92,034 | ▼ 17.3% |
| Land and buildings22 | - | €87,542 | €82,711 | €77,881 | €73,050 | ▼ 6.2% |
| Plant, machinery and equipment23 | - | €12,834 | €9,686 | €7,110 | €3,828 | ▼ 46.2% |
| Furniture and vehicles24 | - | €45,229 | €32,465 | €19,930 | €12,380 | ▼ 37.9% |
| Other tangible fixed assets26 | - | €13,420 | €9,872 | €6,324 | €2,777 | ▼ 56.1% |
| Current assets29/58 | €152,355 | €116,424 | €63,995 | €87,343 | €89,427 | ▲ 2.4% |
| Stocks and contracts in progress3 | €5,000 | €30,500 | €32,500 | €32,500 | €31,000 | ▼ 4.6% |
| Stocks30/36 | - | €6,500 | €7,750 | €7,750 | €7,000 | ▼ 9.7% |
| Contracts in progress37 | - | €24,000 | €24,750 | €24,750 | €24,000 | ▼ 3.0% |
| Amounts receivable within one year40/41 | €113,941 | €63,136 | €26,089 | €47,163 | €54,283 | ▲ 15.1% |
| Trade receivables40 | - | €46,738 | €16,326 | €34,540 | €41,775 | ▲ 20.9% |
| Other amounts receivable41 | - | €16,398 | €9,764 | €12,623 | €12,508 | ▼ 0.9% |
| Cash at bank and in hand54/58 | €10,915 | €22,063 | €5,177 | €7,680 | €4,144 | ▼ 46.0% |
| Deferred charges and accrued income490/1 | - | €725 | €228 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €281,351 | €275,448 | €198,730 | €198,588 | €181,461 | ▼ 8.6% |
| Equity10/15 | €133,072 | €138,966 | €119,859 | €115,919 | €117,632 | ▲ 1.5% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €114,472 | €120,366 | €101,259 | €97,319 | €99,032 | ▲ 1.8% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | €118,506 | €99,399 | €97,319 | €99,032 | ▲ 1.8% |
| Amounts payable17/49 | €148,279 | €136,482 | €78,871 | €82,670 | €63,830 | ▼ 22.8% |
| Amounts payable after more than one year17 | €9,844 | €25,511 | €13,080 | €4,861 | - | - |
| Financial debts170/4 | - | €25,511 | €13,080 | €4,861 | - | - |
| Amounts payable within one year42/48 | €137,666 | €110,971 | €65,791 | €77,809 | €63,830 | ▼ 18.0% |
| Current portion of amounts payable after more than one year42 | - | €13,431 | €12,431 | €8,219 | €4,861 | ▼ 40.9% |
| Trade debts44 | €80,022 | €66,478 | €19,226 | €33,385 | €18,933 | ▼ 43.3% |
| Suppliers440/4 | - | €66,478 | €19,226 | €33,385 | €18,933 | ▼ 43.3% |
| Taxes, remuneration and social security45 | - | €5,980 | €6,649 | €9,561 | €5,365 | ▼ 43.9% |
| Taxes450/3 | - | €3,151 | €3,151 | €5,040 | €2,520 | ▼ 50.0% |
| Remuneration and social security454/9 | - | €2,829 | €3,498 | €4,521 | €2,845 | ▼ 37.1% |
| Other amounts payable47/48 | - | €25,083 | €27,486 | €26,644 | €34,670 | ▲ 30.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,648 | €5,894 | -€19,108 | -€3,940 | €1,713 | ▲ 143% |
| + Depreciation and write-downs630 | €17,800 | €20,354 | €24,289 | €24,167 | €20,234 | ▼ 16.3% |
| Operating cash flow (approximation) | €31,448 | €26,248 | €5,182 | €20,227 | €21,947 | ▲ 8.5% |
| Investment in fixed assets (approximation) | - | -€50,382 | €0 | -€677 | -€1,023 | ▼ 51.2% |
| Change in cash | - | €11,148 | -€16,885 | €2,503 | -€3,536 | ▼ 241% |
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
Next filing, fiscal year 2026, expected by
2026
08-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Back to profitnet €1,713
Net result €1,713 after 2 loss-making years.
31-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
04-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Weakest financial yearnet -€19,108
Net result drops to -€19,108, the lowest in the series; recovery starts the following year.
27-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
28-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Highest result since 2018net €24,632 ▲63,829%
Operating result €21,391, net result €24,632, both a record.
30-09
Financial
Equity above €100,000Eq €119,424 ▲26%
3 profitable years in a row build equity to €119,424.
30-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
02-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
03-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
05-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Herzele · 1 establishment unit since 2012
Ground area
1,821 m²
Building footprint
918 m²
Volume, LiDAR
1,224 m³
Parcel 41008A0615/00K000, Flanders · tallest building 40.7 m. Linked by address, not a title deed.
1 establishment unit
DSJ
since 20122.207.172.741
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41008A0615/00K000 | Flanders | 1,821 m² | 1 · 918 m² | 40.7 m |
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 4,269 companies in sector 43230 we hold annual accounts for 1,239. 1,038 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded15-02-2012
Fiscal year end30-09
Activities, NACEBEL 2025
43230Insulation installation
43910Bricklaying and masonry work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0843688380
Also
9925:BE0843688380
Registered
01-11-2023
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.