DSM
ActiveSummary
DSM has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€109,043) and a net result of €66,658. Equity is shrinking by ~3.4% per year across the filed fiscal years. Its solvency ranks better than 5% of 28184 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+80
Solvency0=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity tight (current ratio 1.43 against 0.74 in 2024; short-term debt: 63% and cash: 22.8% of total assets), and equity is negative.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six 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 · 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-91%
Return on assets
55.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 28184 sector peers (2025).
NBB · sector comparisonPosition among 28184 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
25 d late
2024
25 d late
2023
29 d late
2022
39 d late
2021
29 d late
2020
25 d late
2019
89 d late
← 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 37 days after 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#5 oldest company in Bullange, Construction sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€66,658
2024 · -€14,583
Working capital
€32,475
2024 · -€32,352
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€7,193-€5,737€40,996€21,150▼ 48.4%€73,617▲ 248%
Net result€5,541-€14,110€32,193-€14,583€66,658above the sector's middle half
Equity-€179,201▲ 3.0%-€193,311▼ 7.9%-€161,118▲ 16.7%-€175,701▼ 9.1%-€109,043below the sector's middle half▲ 37.9%
Total assets€286,460▼ 14.7%€246,892▼ 13.8%€297,938▲ 20.7%€102,043▼ 65.8%€119,797within the sector's middle half▲ 17.4%
Debt€465,661▼ 10.6%€440,203▼ 5.5%€459,056▲ 4.3%€277,744▼ 39.5%€228,840▼ 17.6%
Working capital€89,874▲ 35.4%€62,043▼ 31.0%€66,422▲ 7.1%-€32,352€32,475
Solvency-62.6%▼ 7.5pp-78.3%▼ 15.7pp-54.1%▲ 24.2pp-172.2%▼ 118.1pp-91.0%below the sector's middle half▲ 81.2pp
Staff (FTE)1▼ 23.1%10.6▼ 40.0%
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.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 248% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €119,797
Fixed assets
€11,891 ▲ 15.7%
Current assets
€107,906 ▲ 17.6%
Key figures and ratios
EBITDA
€74,324▲
2024 · €21,762
Cash flow
€67,365▲
2024 · -€13,971
Current ratio
1.43▲
2024 · 0.74
Quick ratio
1.26▲
2024 · 0.56
Debt to equity
-2.10▼
2024 · -1.58
ROA
55.6%▲
2024 · -14.3%
Interest coverage
10.68▲
2024 · 2.34
Debt ≤ 1 year
€75,431▼
2024 · €124,119
Debt > 1 year
€153,409▼
2024 · €153,625
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,799 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 91% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.5%
went bankrupt
5.3%
stopped otherwise
91%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% 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 497,058 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% | 1.6% |
| 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 74% 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 3,799 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 | - | €5,900 | €10,635 | - | - | - |
| Remuneration, social security and pensions62 | €51,568 | €51,963 | €32,931 | €36,596 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,530 | €1,404 | €616 | €612 | €707 | ▲ 15.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €73,367 | - | - |
| Other operating charges640/8 | €5,604 | €3,714 | €3,275 | €2,846 | €3,116 | ▲ 9.5% |
| Gross operating margin9900 | €73,895 | €51,344 | €77,819 | €134,570 | €77,440 | ▼ 42.5% |
| Operating profit (loss)9901 | €7,193 | -€5,737 | €40,996 | €21,150 | €73,617 | ▲ 248% |
| Financial income75/76B | €134 | €7 | - | - | - | - |
| Recurring financial income75 | €134 | €7 | - | - | - | - |
| Financial charges65/66B | €1,260 | €7,836 | €8,227 | €35,733 | €6,959 | ▼ 80.5% |
| Recurring financial charges65 | €1,260 | €7,836 | €8,227 | €9,305 | €6,959 | ▼ 25.2% |
| Non-recurring financial charges66B | - | - | - | €26,428 | €6,959 | ▼ 73.7% |
| Profit (loss) for the period before taxes9903 | €6,067 | -€13,566 | €32,769 | -€14,583 | €66,658 | ▲ 557% |
| Income taxes67/77 | €526 | €544 | €576 | - | - | - |
| Profit (loss) for the period9904 | €5,541 | -€14,110 | €32,193 | -€14,583 | €66,658 | ▲ 557% |
| Profit (loss) for the period to be appropriated9905 | €5,541 | -€14,110 | €32,193 | -€14,583 | €66,658 | ▲ 557% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €286,460 | €246,892 | €297,938 | €102,043 | €119,797 | ▲ 17.4% |
| Fixed assets21/28 | €38,060 | €37,931 | €37,315 | €10,276 | €11,891 | ▲ 15.7% |
| Tangible fixed assets22/27 | €11,632 | €11,504 | €10,887 | €10,276 | €11,891 | ▲ 15.7% |
| Land and buildings22 | €10,025 | €9,603 | €9,598 | €9,598 | €9,598 | = |
| Plant, machinery and equipment23 | €441 | - | - | - | €1,951 | - |
| Furniture and vehicles24 | €1,166 | €1,900 | €1,289 | €677 | €342 | ▼ 49.6% |
| Financial fixed assets28 | €26,428 | €26,428 | €26,428 | - | - | - |
| Current assets29/58 | €248,400 | €208,960 | €260,623 | €91,767 | €107,906 | ▲ 17.6% |
| Stocks and contracts in progress3 | €47,500 | €39,450 | €35,750 | €22,500 | €12,500 | ▼ 44.4% |
| Stocks30/36 | €47,500 | €39,450 | €35,750 | €22,500 | €12,500 | ▼ 44.4% |
| Amounts receivable within one year40/41 | €182,409 | €154,572 | €212,879 | €52,758 | €61,395 | ▲ 16.4% |
| Trade receivables40 | €182,409 | €149,848 | €205,958 | €51,937 | €54,064 | ▲ 4.1% |
| Other amounts receivable41 | - | €4,724 | €6,922 | €821 | €7,331 | ▲ 793% |
| Cash at bank and in hand54/58 | €8,044 | €6,516 | €5,430 | €9,048 | €27,366 | ▲ 202% |
| Deferred charges and accrued income490/1 | €10,447 | €8,422 | €6,564 | €7,462 | €6,645 | ▼ 10.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €286,460 | €246,892 | €297,938 | €102,043 | €119,797 | ▲ 17.4% |
| Equity10/15 | -€179,201 | -€193,311 | -€161,118 | -€175,701 | -€109,043 | ▲ 37.9% |
| Contributions10/11 | €30,987 | €30,987 | €30,987 | €30,987 | €30,987 | = |
| Reserves13 | €3,099 | €3,099 | €3,099 | €3,099 | €3,099 | = |
| Non-distributable reserves130/1 | €3,099 | €3,099 | €3,099 | €3,099 | €3,099 | = |
| Reserves not available under the articles1311 | €3,099 | €3,099 | €3,099 | €3,099 | €3,099 | = |
| Profit (loss) carried forward14 | -€213,287 | -€227,397 | -€195,204 | -€209,787 | -€143,129 | ▲ 31.8% |
| Amounts payable17/49 | €465,661 | €440,203 | €459,056 | €277,744 | €228,840 | ▼ 17.6% |
| Amounts payable after more than one year17 | €307,135 | €293,286 | €264,856 | €153,625 | €153,409 | ▼ 0.1% |
| Other amounts payable178/9 | €307,135 | €293,286 | €264,856 | €153,625 | €153,409 | ▼ 0.1% |
| Amounts payable within one year42/48 | €158,526 | €146,917 | €194,200 | €124,119 | €75,431 | ▼ 39.2% |
| Financial debts43 | €150,000 | €125,000 | €125,000 | €100,000 | €70,000 | ▼ 30.0% |
| Credit institutions430/8 | €150,000 | €125,000 | €125,000 | €100,000 | €70,000 | ▼ 30.0% |
| Trade debts44 | €3,605 | €20,150 | €60,997 | €16,549 | €5,393 | ▼ 67.4% |
| Suppliers440/4 | €3,605 | €20,150 | €60,997 | €16,549 | €5,393 | ▼ 67.4% |
| Taxes, remuneration and social security45 | €4,921 | €1,767 | €8,203 | €7,570 | €37 | ▼ 99.5% |
| Taxes450/3 | €3,623 | €1,762 | €2,628 | €7,570 | €37 | ▼ 99.5% |
| Remuneration and social security454/9 | €1,298 | €5 | €5,576 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,541 | -€14,110 | €32,193 | -€14,583 | €66,658 | ▲ 557% |
| + Depreciation and write-downs630 | €9,530 | €1,404 | €616 | €612 | €707 | ▲ 15.6% |
| Operating cash flow (approximation) | €15,071 | -€12,707 | €32,809 | -€13,971 | €67,365 | ▲ 582% |
| Investment in fixed assets (approximation) | - | -€1,275 | €0 | €26,428 | -€2,322 | ▼ 109% |
| Change in cash | - | -€1,528 | -€1,086 | €3,618 | €18,318 | ▲ 406% |
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
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 25 days late
2025
31-12
Financial
Back to profitnet €66,658
Net result €66,658 after one loss-making year.
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · unclassified schema · 25 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · unclassified schema · 29 days late
2023
31-12
Financial
Back to profitnet €32,193
Net result €32,193 after one loss-making year.
08-09
NBB filing
Annual accounts filed
fiscal year 2022 · unclassified schema · 39 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · unclassified schema · 29 days late
2021
31-12
Financial
Back to profitnet €5,541
Net result €5,541 after 3 loss-making years.
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 25 days late
2020
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 89 days late
2019
31-12
Financial
Weakest financial yearnet -€65,715
Net result drops to -€65,715, the lowest in the series; recovery starts the following year.
24-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 24 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 29 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Büllingen · 1 establishment unit since 1993
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rocherath,Liesengasse 64761 Büllingen1 establishment unit
Rocherath,Liesengasse 6, 4761 Büllingen
since 19932.061.913.063
Recognitions · licences · registrations
Recognised contractor
5 categoriesDSM PgmbH22302
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Clavier
This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 20,025 companies in sector 43320 we hold annual accounts for 9,138. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded01-03-1993
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
43221Plumbing work
43410Roofing work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0449535810
Registered
20-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.