DSW +
ActiveSummary
DSW + has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €419k and a net result of €86k. Equity is growing by ~33.6% per year across the filed fiscal years. Its solvency ranks better than 51% of 37953 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability84▼-1
Solvency84▲+10
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity ample (current ratio 1.98 against 1.32 in 2023; short-term debt: 22.1% and cash: 0.1% of total assets), and 41% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
61 d late
2023
1 d early
2022
11 d early
2021
26 d early
2020
6 d late
2019
6 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2024, micro schema
Equity
€419k▲ 25.8%
2023 · €333k
Total assets
€710k▲ 4.1%
2023 · €682k
Net result
€86k▼ 4.4%
2023 · €90k
Working capital
€154k▲ 159%
2023 · €59k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€112k€82k▼ 27.4%€64k▼ 21.1%€130k▲ 102%€121k▼ 6.9%
Net result€82k€53k▼ 35.0%€57k▲ 6.3%€90k▲ 58.4%€86k▼ 4.4%
Equity€133k▲ 162%€186k▲ 40.2%€243k▲ 30.5%€333k▲ 37.0%€419k▲ 25.8%
Total assets€761k▼ 3.6%€677k▼ 11.0%€652k▼ 3.7%€682k▲ 4.6%€710k▲ 4.1%
Debt€628k▼ 15.0%€491k▼ 21.9%€409k▼ 16.7%€349k▼ 14.7%€291k▼ 16.6%
Working capital€-142k▲ 37.3%€-97k▲ 31.5%€-39k▲ 60.3%€59k€154k▲ 159%
Staff (FTE)1.6▲ 60.0%2.1▲ 31.3%3.6▲ 71.4%2.8▼ 22.2%1.4▼ 50.0%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 7% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €710k
Fixed assets
€399k ▼ 9.0%
Current assets
€311k ▲ 27.8%
Equity and liabilities €710k
Equity
€419k ▲ 25.8%
Debt
€291k ▼ 16.6%
Debt's share of the balance-sheet total falls from 51.2% to 41.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€164k▼
2023 · €174k
Cash flow
€129k▼
2023 · €133k
Current ratio
1.98▲
2023 · 1.32
Debt to equity
0.69▼
2023 · 1.05
ROE
20.5%▼
2023 · 27.0%
ROA
12.1%▼
2023 · 13.2%
Interest coverage
24.64▲
2023 · 18.06
Debt ≤ 1 year
€157k▼
2023 · €184k
Debt > 1 year
€134k▼
2023 · €165k
Income taxes
€41k▲
2023 · €39k
Staff costs
€40k▼
2023 · €56k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €100k | €159k | €56k | €40k | ▼ 29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €43k | €39k | €43k | €43k | €43k | ▼ 1.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €74k | - | €-49k | €0 | ▲ 100% |
| Other operating charges640/8 | - | €3k | €51k | €3k | €3k | ▼ 12.8% |
| Non-recurring operating charges66A | - | - | - | €5k | €0 | ▼ 100% |
| Gross operating margin9900 | €244k | €298k | €317k | €190k | €207k | ▲ 9.0% |
| Operating profit (loss)9901 | €112k | €82k | €64k | €130k | €121k | ▼ 6.9% |
| Financial income75/76B | - | €9k | €86k | €8k | €12k | ▲ 44.9% |
| Recurring financial income75 | €8k | €9k | €10k | €8k | €12k | ▲ 44.9% |
| Non-recurring financial income76B | - | - | €76k | - | - | - |
| Financial charges65/66B | - | €14k | €18k | €10k | €7k | ▼ 30.8% |
| Recurring financial charges65 | €8k | €8k | €18k | €10k | €7k | ▼ 30.8% |
| Non-recurring financial charges66B | - | €6k | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €111k | €77k | €132k | €129k | €127k | ▼ 1.8% |
| Income taxes67/77 | €29k | €23k | €75k | €39k | €41k | ▲ 4.1% |
| Profit (loss) for the period9904 | €82k | €53k | €57k | €90k | €86k | ▼ 4.4% |
| Profit (loss) for the period to be appropriated9905 | €82k | €53k | €57k | €90k | €86k | ▼ 4.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €761k | €677k | €652k | €682k | €710k | ▲ 4.1% |
| Fixed assets21/28 | €526k | €520k | €481k | €439k | €399k | ▼ 9.0% |
| Tangible fixed assets22/27 | €521k | €518k | €479k | €437k | €395k | ▼ 9.6% |
| Land and buildings22 | - | €465k | €438k | €407k | €377k | ▼ 7.4% |
| Plant, machinery and equipment23 | - | €4k | €3k | €2k | €1k | ▼ 39.9% |
| Furniture and vehicles24 | - | €50k | €39k | €29k | €17k | ▼ 39.3% |
| Financial fixed assets28 | €6k | €2k | €2k | €2k | €4k | ▲ 170% |
| Current assets29/58 | €235k | €158k | €171k | €243k | €311k | ▲ 27.8% |
| Stocks and contracts in progress3 | €11k | €2k | €2k | - | - | - |
| Stocks30/36 | - | €2k | €2k | - | - | - |
| Amounts receivable within one year40/41 | €178k | €129k | €154k | €220k | €300k | ▲ 36.3% |
| Trade receivables40 | - | €28k | €33k | €35k | €22k | ▼ 36.4% |
| Other amounts receivable41 | - | €102k | €121k | €186k | €278k | ▲ 49.9% |
| Cash at bank and in hand54/58 | €45k | €25k | €14k | €22k | €716 | ▼ 96.8% |
| Deferred charges and accrued income490/1 | - | €500 | €604 | €606 | €10k | ▲ 1,531% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €761k | €677k | €652k | €682k | €710k | ▲ 4.1% |
| Equity10/15 | €133k | €186k | €243k | €333k | €419k | ▲ 25.8% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €315k | ▲ 16,812% |
| Non-distributable reserves130/1 | - | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | - | - | - |
| Distributable reserves133 | - | - | - | €2k | €315k | ▲ 16,812% |
| Profit (loss) carried forward14 | €113k | €166k | €223k | €313k | €86k | ▼ 72.5% |
| Amounts payable17/49 | €628k | €491k | €409k | €349k | €291k | ▼ 16.6% |
| Amounts payable after more than one year17 | €251k | €236k | €199k | €165k | €134k | ▼ 18.8% |
| Financial debts170/4 | - | €236k | €199k | €165k | €134k | ▼ 18.8% |
| Amounts payable within one year42/48 | €377k | €255k | €210k | €184k | €157k | ▼ 14.7% |
| Current portion of amounts payable after more than one year42 | - | €52k | €37k | €38k | €32k | ▼ 16.2% |
| Trade debts44 | €113k | €46k | €49k | €65k | €24k | ▼ 62.5% |
| Suppliers440/4 | - | €46k | €49k | €65k | €24k | ▼ 62.5% |
| Taxes, remuneration and social security45 | - | €27k | €117k | €70k | €96k | ▲ 36.5% |
| Taxes450/3 | - | €23k | €109k | €63k | €92k | ▲ 45.8% |
| Remuneration and social security454/9 | - | €4k | €9k | €7k | €4k | ▼ 43.6% |
| Other amounts payable47/48 | - | €129k | €6k | €11k | €5k | ▼ 54.1% |
| Accrued charges and deferred income492/3 | - | - | - | - | €62 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €82k | €53k | €57k | €90k | €86k | ▼ 4.4% |
| + Depreciation and write-downs630 | €43k | €39k | €43k | €43k | €43k | ▼ 1.7% |
| Operating cash flow (approximation) | €125k | €93k | €100k | €133k | €129k | ▼ 3.5% |
| Investment in fixed assets (approximation) | - | €-33k | €-4k | €-1k | €-3k | ▼ 166% |
| Change in cash | - | €-20k | €-11k | €8k | €-22k | ▼ 367% |
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
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €90k ▲58.4%
Operating result €130k, net result €90k, both a record.
20-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €200kEq €243k ▲30.5%
3 profitable years in a row build equity to €243k.
05-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €150kEq €186k ▲40.2%
2 profitable years in a row build equity to €186k.
06-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 6 days late
2020
31-12
Financial
Back to profitnet €82k
Net result €82k after one loss-making year.
31-12
Financial
Equity above €100kEq €133k ▲162%
Equity rises from €51k to €133k.
06-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 6 days late
2019
31-12
Financial
Weakest financial yearnet €-27k
Net result drops to €-27k, the lowest in the series; recovery starts the following year.
Show earlier events
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
25-02
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 209 days late
2017
03-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 64 days late
2016
14-07
NBB filing
Annual accounts filed
fiscal year 2015 · 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, Mol · 1 establishment unit since 2011
Ground area
1,982 m²
Building footprint
226 m²
Volume, LiDAR
1,357 m³
Parcel 13434F0344/00M000, Flanders · tallest building 8.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
DSW+ BVBA
since 20112.196.789.682
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13434F0344/00M000 | Flanders | 1,982 m² | 1 · 226 m² | 8.1 m · 2 fl. |
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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 6 entries · 35,370 EUR awarded · 35,370 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 20,132 EUR | 20,132 EUR |
| 2023 | 3 | 4,498 EUR | 4,498 EUR |
| 2022 | 1 | 10,740 EUR | 10,740 EUR |
Schemes
Individueel Maatwerk
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Stagebonus (stopgezet)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 siteMol2.196.789.682
Dual-learning approval
1 live approval · 2 endedDakwerker duaal (so)
Show 2 ended approvals
Dakafdichter (so)
Dakdekker leien en pannen (so)
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Of 5,710 companies in sector 70100 we hold annual accounts for 3,502. 2,255 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
Founded28-01-2011
Fiscal year end31-12
Activities, NACEBEL 2025
43410Roofing work
70100Activities of head offices
70200Business and other management consultancy
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.