DSV LOGISTICS
ActiveSummary
DSV LOGISTICS has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.4m and a net result of €1.3m. Equity remains stable across the filed fiscal years (±0.3% per year). Its solvency ranks better than 35% of 724 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability69▼-1
Solvency49▼-3
Growth58▼-13
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €160,000 at 30 days acceptable
Liquidity ample (current ratio 1.77 against 1.88 in 2023; short-term debt: 56.7% and cash: 48.3% of total assets), but 76.4% of the assets are financed with debt.
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Signals
Five 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 52
Relative position
BE, all sectors
reference
Warehousing and support activities for transportation (NACE 52)
about 72% 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
23.6%
Return on assets
12.7%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-06-2025, 37 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
37 d early
2023
21 d early
2022
48 d early
2021
48 d early
2020
66 d early
2019
29 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 42 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
In the rankings
#10 employer in Ghent, Transport and storage sector
Turnover
€20.2m▲ 8.6%
2023 · €18.6m
EBIT margin
8.3%▼ 0.3pp
2023 · 8.6%
Net result
€1.3m▲ 1.2%
2023 · €1.3m
Working capital
€4.5m▼ 2.9%
2023 · €4.6m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 52, Warehousing and support activities for transportation, 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
Line20202021202220232024
Turnover€14.1m▼ 7.5%€14.5m▲ 3.2%€17.4m▲ 19.3%€18.6m▲ 7.0%€20.2m▲ 8.6%
Operating result€954,847▼ 22.5%€932,869▼ 2.3%€1.2m▲ 29.9%€1.6m▲ 31.6%€1.7m▲ 5.3%
Net result€677,281above the sector's middle half▼ 12.7%€592,706within the sector's middle half▼ 12.5%€806,492above the sector's middle half▲ 36.1%€1.3mabove the sector's middle half▲ 60.3%€1.3mabove the sector's middle half▲ 1.2%
EBIT margin6.8%▼ 1.3pp6.4%▼ 0.4pp7.0%▲ 0.6pp8.6%▲ 1.6pp8.3%▼ 0.3pp
Equity€2.8mwithin the sector's middle half▲ 1.0%€2.8mwithin the sector's middle half▼ 0.3%€2.8mwithin the sector's middle half▲ 0.2%€2.6mwithin the sector's middle half▼ 7.3%€2.4mwithin the sector's middle half▼ 7.3%
Total assets€8.4mwithin the sector's middle half▲ 41.7%€8.5mwithin the sector's middle half▲ 0.6%€8.8mwithin the sector's middle half▲ 3.5%€9.8mwithin the sector's middle half▲ 12.0%€10.3mwithin the sector's middle half▲ 5.0%
Debt€5.6m▲ 78.3%€3.8m▼ 31.9%€3.9m▲ 3.6%€5.2m▲ 32.4%€5.9m▲ 12.0%
Working capital€4.8m▲ 72.1%€5.0m▲ 3.5%€4.8m▼ 3.4%€4.6m▼ 4.7%€4.5m▼ 2.9%
Solvency33.7%within the sector's middle half▼ 13.6pp33.4%within the sector's middle half▼ 0.3pp32.3%within the sector's middle half▼ 1.1pp26.7%within the sector's middle half▼ 5.6pp23.6%within the sector's middle half▼ 3.1pp
Staff (FTE)142.7above the sector's middle half▼ 2.9%121.5above the sector's middle half▼ 14.9%123.3above the sector's middle half▲ 1.5%124.8above the sector's middle half▲ 1.2%128.7above the sector's middle half▲ 3.1%
above
within
below
the middle half (P25 to P75) of NACE 52, Warehousing and support activities for transportation, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 5% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Equity and liabilities €10.3m
Equity
€2.4m ▼ 7.3%
Provisions
€2.0m ▲ 3.0%
Debt
€5.9m ▲ 12.0%
Debt's share of the balance-sheet total rises from 53.1% to 56.7%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
1.77▼
2023 · 1.88
Debt to equity
2.40▲
2023 · 1.99
ROE
53.7%▲
2023 · 49.2%
ROA
12.7%▼
2023 · 13.1%
Debt ≤ 1 year
€5.9m▲
2023 · €5.2m
Income taxes
€546,383▲
2023 · €429,601
Staff costs
€8.9m▲
2023 · €8.4m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 379 companies that looked in July 2024 the way this one looks now, 0.3% went bankrupt within 24 months and 97% are still going.
- Medium-sized
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
0.3%
went bankrupt
2.6%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.5% 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 379 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €16.2m | €17.7m | €18.7m | €20.2m | ▲ 8.2% |
| Turnover70 | €14.1m | €14.5m | €17.4m | €18.6m | €20.2m | ▲ 8.6% |
| Other operating income74 | - | €1.7m | €377,188 | €96,941 | €30,495 | ▼ 68.5% |
| Operating charges60/66A | - | €15.3m | €16.5m | €17.1m | €18.5m | ▲ 8.5% |
| Services and other goods61 | - | €6.3m | €8.7m | €8.7m | €9.6m | ▲ 10.2% |
| Remuneration, social security and pensions62 | - | €7.1m | €7.7m | €8.4m | €8.9m | ▲ 5.8% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €1.8m | €155,720 | -€19,457 | €59,847 | ▲ 408% |
| Operating profit (loss)9901 | €954,847 | €932,869 | €1.2m | €1.6m | €1.7m | ▲ 5.3% |
| Financial income75/76B | - | €414 | €5,860 | €129,628 | €177,825 | ▲ 37.2% |
| Recurring financial income75 | €1,195 | €414 | €5,860 | €129,628 | €177,825 | ▲ 37.2% |
| Income from current assets751 | - | - | €5,477 | €129,470 | €177,754 | ▲ 37.3% |
| Other financial income752/9 | - | €414 | €383 | €158 | €71 | ▼ 55.0% |
| Financial charges65/66B | - | €657 | €1,595 | €890 | €455 | ▼ 48.9% |
| Recurring financial charges65 | €651 | €657 | €1,595 | €890 | €455 | ▼ 48.9% |
| Debt charges650 | - | €10 | - | - | - | - |
| Other financial charges652/9 | - | €647 | €1,595 | €890 | €455 | ▼ 48.9% |
| Profit (loss) for the period before taxes9903 | €955,390 | €932,626 | €1.2m | €1.7m | €1.9m | ▲ 7.7% |
| Income taxes67/77 | €278,109 | €339,920 | €409,247 | €429,601 | €546,383 | ▲ 27.2% |
| Taxes670/3 | - | €339,920 | €409,247 | €513,072 | €546,383 | ▲ 6.5% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €83,472 | - | - |
| Profit (loss) for the period9904 | €677,281 | €592,706 | €806,492 | €1.3m | €1.3m | ▲ 1.2% |
| Profit (loss) for the period to be appropriated9905 | €677,281 | €592,706 | €806,492 | €1.3m | €1.3m | ▲ 1.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €8.4m | €8.5m | €8.8m | €9.8m | €10.3m | ▲ 5.0% |
| Current assets29/58 | €8.4m | €8.5m | €8.8m | €9.8m | €10.3m | ▲ 5.0% |
| Amounts receivable within one year40/41 | €3.8m | €2.5m | €4.4m | €4.7m | €5.3m | ▲ 14.4% |
| Trade receivables40 | - | €2.5m | €4.4m | €4.7m | €5.3m | ▲ 14.4% |
| Other amounts receivable41 | - | €8,392 | - | - | - | - |
| Cash at bank and in hand54/58 | €4.6m | €6.0m | €4.4m | €5.2m | €5.0m | ▼ 3.7% |
| Deferred charges and accrued income490/1 | - | €11,378 | €11,350 | - | €17,943 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €8.4m | €8.5m | €8.8m | €9.8m | €10.3m | ▲ 5.0% |
| Equity10/15 | €2.8m | €2.8m | €2.8m | €2.6m | €2.4m | ▼ 7.3% |
| Contributions10/11 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Capital10 | - | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Issued capital100 | - | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Reserves13 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Non-distributable reserves130/1 | - | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Legal reserve130 | - | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Profit (loss) carried forward14 | €2.7m | €2.7m | €2.7m | €2.5m | €2.3m | ▼ 7.6% |
| Provisions and deferred taxes16 | - | €1.8m | €2.0m | €2.0m | €2.0m | ▲ 3.0% |
| Provisions for liabilities and charges160/5 | - | €1.8m | €2.0m | €2.0m | €2.0m | ▲ 3.0% |
| Other liabilities and charges164/5 | - | €1.8m | €2.0m | €2.0m | €2.0m | ▲ 3.0% |
| Amounts payable17/49 | €5.6m | €3.8m | €3.9m | €5.2m | €5.9m | ▲ 12.0% |
| Amounts payable within one year42/48 | €3.6m | €3.5m | €3.9m | €5.2m | €5.9m | ▲ 12.0% |
| Trade debts44 | €1.2m | €1.3m | €1.6m | €1.6m | €2.0m | ▲ 24.4% |
| Suppliers440/4 | - | €1.3m | €1.6m | €1.6m | €2.0m | ▲ 24.4% |
| Taxes, remuneration and social security45 | - | €1.6m | €1.6m | €2.1m | €2.3m | ▲ 11.1% |
| Taxes450/3 | - | €339,013 | €248,910 | €776,377 | €799,957 | ▲ 3.0% |
| Remuneration and social security454/9 | - | €1.2m | €1.3m | €1.3m | €1.5m | ▲ 15.8% |
| Other amounts payable47/48 | - | €600,000 | €800,000 | €1.5m | €1.5m | = |
| Accrued charges and deferred income492/3 | - | €333,333 | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €677,281 | €592,706 | €806,492 | €1.3m | €1.3m | ▲ 1.2% |
| Operating cash flow (approximation) | €677,281 | €592,706 | €806,492 | €1.3m | €1.3m | ▲ 1.2% |
| Change in cash | - | €1.3m | -€1.6m | €808,495 | -€190,867 | ▼ 124% |
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
2026
16-07
State Gazette act
Resignation: Aaron Scott (director)Appointment: Pieter van der Maas (vicevoorzitter) · Director discharge4 facts ▸
State Gazette act
Resignation: Aaron Scott (director)
Appointment: Pieter van der Maas (vicevoorzitter) · Director discharge4 facts ▸
- Director resignation, Aaron Scott (director)
- Director discharge, Aaron Scott
- Director resignation, Aaron Scott (vicevoorzitter)
- Director appointment, Pieter van der Maas (vicevoorzitter)
2025
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €1.3m ▲1.2%
Operating result €1.7m, net result €1.3m, both a record.
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
13-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Weakest financial yearnet €592,706 ▼12.5%
Net result drops to €592,706, the lowest in the series; recovery starts the following year.
26-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
28-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
08-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
22-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
03-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 31 acts read
About the unread acts
Of the 31 Belgian State Gazette acts we know for this company, 1 has been read. The other 30 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Pieter van der Maas
CurrentVicevoorzitter · since 01-01-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
30 of this company's 31 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Gent · 1 establishment unit since 2002
Ground area
20.7 ha
Building footprint
6.5 ha
Volume, LiDAR
324,534 m³
2 parcels, Flanders, Wallonia · tallest building 14.6 m, ±4 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Rue de Courrière 12, 7181 Seneffe
since 20022.095.832.775
2 parcels
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52017A0044/00F000 | Wallonia | 17.4 ha | 1 · 3.3 ha | - |
| 44813B0120/00K004 | Flanders | 3.3 ha | 1 · 3.2 ha | 14.6 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
2 people since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Pieter van der Maas |
|
| Aaron Scott |
|
Structure & network
Owners and holdings
1 ownerChain of control
- DSV Solutions Holding A/SDK
- DSV LOGISTICS
Highest known parent: DSV Solutions Holding A/S (Denmark). The sources do not say who stands above it.
Owners 1
- DSV Solutions Holding A/SDKparentSourceown accounts 2024100%
Holdings 0
The accounts to 31-12-2024 list no holdings, and no other source names one.
According to the 2024 annual accounts of DSV LOGISTICS and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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Of 355 companies in sector 52249 we hold annual accounts for 266. 156 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded19-03-2002
Fiscal year end31-12
Activities, NACEBEL 2025
52100Warehousing and storage
52249Warehousing and support activities for transportation
52250Logistics services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0477115185
Registered
08-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.