Summary
DUCAJU is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €5.2m and a net result of -€160,147. Equity remains stable across the filed financial years (±0.3% per year). Its solvency ranks better than 46% of 3,010 sector peers (NACE 64, financial year 2025). The company has been active since 1999 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, full format
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€5.2m▼ 3.0%
2024 · €5.4m
Net result
-€160,147
2024 · €55,665
Total assets
€9.1m▼ 4.4%
2024 · €9.5m
Solvency
57.3%▲ 0.8pp
2024 · 56.5%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 2% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€0.1m
2025
Net result-€0.2m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€9.1m
2025
Equity€5.2m
2025
Debt€3.8m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€3.5m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-1.8%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency57.3%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.07
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)1
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€0.05m-€0.08m€0.09m▲ 13.6%€0.04m▼ 50.6%€0.08m▲ 89.5%€0.08m▼ 2.6%€0.1m▲ 27.7%€0.1m▲ 1.8%
Net result€0.2m-€0.1m▼ 16.3%€0.1m=-€0.004mbelow the sector's middle half€0.05mwithin the sector's middle half€0.1mwithin the sector's middle half▲ 135%€0.06mwithin the sector's middle half▼ 50.8%-€0.2mbelow the sector's middle half
Equity€5.9m-€5.1m▼ 12.4%€5.2m▲ 0.7%€5.2mabove the sector's middle half▼ 0.1%€5.2mabove the sector's middle half▲ 0.9%€5.3mabove the sector's middle half▲ 2.2%€5.4mabove the sector's middle half▲ 1.0%€5.2mwithin the sector's middle half▼ 3.0%
Total assets€7.3m-€10.4m▲ 42.0%€10.9m▲ 5.3%€10.9mabove the sector's middle half▼ 0.4%€10.8mabove the sector's middle half▼ 0.5%€10.7mabove the sector's middle half▼ 1.1%€9.5mabove the sector's middle half▼ 10.9%€9.1mwithin the sector's middle half▼ 4.4%
Debt€1.4m-€5.0m▲ 251%€5.6m▲ 10.4%€5.5m▼ 0.5%€5.4m▼ 1.8%€5.2m▼ 4.0%€4.0m▼ 23.2%€3.8m▼ 6.1%
Working capital€2.2m--€0.7m-€1.9m▼ 186%-€2.3mbelow the sector's middle half▼ 22.6%-€2.2mbelow the sector's middle half▲ 3.7%-€3.2mbelow the sector's middle half▼ 41.6%-€3.7mbelow the sector's middle half▼ 17.9%-€3.5mbelow the sector's middle half▲ 5.6%
Solvency80.4%-49.5%▼ 30.8pp47.4%▼ 2.2pp47.5%within the sector's middle half▲ 0.1pp48.2%within the sector's middle half▲ 0.7pp49.8%within the sector's middle half▲ 1.6pp56.5%within the sector's middle half▲ 6.7pp57.3%within the sector's middle half▲ 0.8pp
Current ratio4.95-0.74▼ 4.210.49▼ 0.240.37within the sector's middle half▼ 0.120.38within the sector's middle half▲ 0.010.30below the sector's middle half▼ 0.080.07below the sector's middle half▼ 0.230.07below the sector's middle half▼ 0.01
Return on assets (ROA)2.3%-1.4%▼ 0.9pp1.3%▼ 0.1pp0.0%below the sector's middle half▼ 1.3pp0.4%within the sector's middle half▲ 0.5pp1.1%within the sector's middle half▲ 0.6pp0.6%within the sector's middle half▼ 0.5pp-1.8%below the sector's middle half▼ 2.3pp
Staff (FTE)1.3-1▼ 23.1%1=1within the sector's middle half=1within the sector's middle half=1within the sector's middle half=1within the sector's middle half=1within the sector's middle half=
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9.1m
Fixed assets
€8.9m ▼ 4.1%
Current assets
€257,759 ▼ 13.2%
Equity and liabilities €9.1m
Equity
€5.2m ▼ 3.0%
Provisions
€126,105 ▼ 6.4%
Debt
€3.8m ▼ 6.1%
Debt's share of the balance-sheet total falls from 42.1% to 41.3%. Equity and debt are lower.
Key figures and ratios
ROE
-3.1%▼
2024 · 1.0%
Debt ≤ 1 year
€3.8m▼
2024 · €4.0m
Income taxes
€36,989▲
2024 · €18,472
Staff costs
€60,988▲
2024 · €58,972
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €4,222 | - | - | €280 | - | - | - | - |
| Remuneration, social security and pensions62 | - | €47,631 | - | €49,601 | €50,863 | €57,971 | €58,972 | €60,988 | ▲ 3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,281 | €142,828 | €144,343 | €141,552 | €137,230 | €123,898 | €125,086 | €126,054 | ▲ 0.8% |
| Other operating charges640/8 | - | €29,632 | - | €21,020 | €32,217 | €29,579 | €31,112 | €32,484 | ▲ 4.4% |
| Non-recurring operating charges66A | - | - | - | - | €3,149 | €0 | - | €545 | - |
| Gross operating margin9900 | €13,367 | €295,894 | €298,958 | €254,675 | €304,008 | €289,933 | €315,404 | €322,094 | ▲ 2.1% |
| Operating profit (loss)9901 | -€48,691 | €75,803 | €86,088 | €42,503 | €80,549 | €78,484 | €100,234 | €102,023 | ▲ 1.8% |
| Financial income75/76B | - | €220,352 | - | €75,840 | €84,959 | €110,163 | €10,563 | €72,159 | ▲ 583% |
| Recurring financial income75 | €299,727 | €220,352 | €220,352 | €75,840 | €84,959 | €109,618 | €10,563 | €71,269 | ▲ 575% |
| Non-recurring financial income76B | - | - | - | - | - | €545 | €0 | €890 | - |
| Financial charges65/66B | - | €166,468 | - | €126,991 | €81,045 | €48,775 | €45,326 | €306,005 | ▲ 575% |
| Recurring financial charges65 | €64,552 | €166,468 | €166,468 | €126,991 | €81,045 | €48,775 | €45,326 | €56,005 | ▲ 23.6% |
| Non-recurring financial charges66B | - | - | - | - | - | - | - | €250,000 | - |
| Profit (loss) for the period before taxes9903 | €184,549 | €129,687 | €129,687 | -€8,648 | €84,463 | €139,872 | €65,471 | -€131,823 | ▼ 301% |
| Transfer from deferred taxes780 | - | €10,789 | - | €10,354 | €10,354 | €8,666 | €8,666 | €8,666 | = |
| Income taxes67/77 | €16,777 | - | €14,592 | €5,773 | €46,579 | €35,360 | €18,472 | €36,989 | ▲ 100% |
| Profit (loss) for the period9904 | €167,772 | €140,476 | €140,477 | -€4,067 | €48,238 | €113,178 | €55,665 | -€160,147 | ▼ 388% |
| Transfer from tax-exempt reserves789 | - | €20,953 | - | €20,108 | €20,108 | €16,849 | €16,849 | €16,849 | = |
| Transfer to tax-exempt reserves689 | - | €122,715 | - | - | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €167,772 | €38,714 | €55,623 | €16,040 | €68,345 | €130,027 | €72,514 | -€143,298 | ▼ 298% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €7.3m | €10.4m | €10.9m | €10.9m | €10.8m | €10.7m | €9.5m | €9.1m | ▼ 4.4% |
| Formation expenses20 | €0 | - | €0 | - | - | - | - | - | - |
| Fixed assets21/28 | €4.5m | €8.5m | €9.6m | €9.5m | €9.4m | €9.3m | €9.2m | €8.9m | ▼ 4.1% |
| Intangible fixed assets21 | €0 | - | €0 | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €0.2m | €3.7m | €3.7m | €3.5m | €3.4m | €3.3m | €3.2m | €3.1m | ▼ 3.9% |
| Land and buildings22 | - | €3.7m | - | €3.5m | €3.4m | €3.3m | €3.2m | €3.1m | ▼ 3.7% |
| Plant, machinery and equipment23 | - | €0.004m | - | €0.003m | €0.003m | €0.008m | €0.01m | €0.008m | ▼ 23.7% |
| Other tangible fixed assets26 | - | - | - | €0.05m | €0.05m | €0.05m | €0.04m | €0.03m | ▼ 14.9% |
| Financial fixed assets28 | €4.3m | €4.9m | €6.0m | €6.0m | €6.0m | €6.0m | €6.0m | €5.8m | ▼ 4.2% |
| Current assets29/58 | €2.8m | €1.8m | €1.8m | €1.4m | €1.4m | €1.4m | €0.3m | €0.3m | ▼ 13.2% |
| Amounts receivable after more than one year29 | - | - | - | - | - | €1.2m | €0 | - | - |
| Other amounts receivable291 | - | - | - | - | - | €1.2m | €0 | - | - |
| Stocks and contracts in progress3 | €0 | - | €0 | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €1.9m | €1.2m | €1.2m | €1.2m | €1.2m | €0.01m | €0.002m | €0.003m | ▲ 44.7% |
| Other amounts receivable41 | - | €1.2m | - | €1.2m | €1.2m | €0.01m | €0.002m | €0.003m | ▲ 44.7% |
| Current investments50/53 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €0.8m | €0.5m | €0.5m | €0.06m | €0.06m | €0.04m | €0.1m | €0.3m | ▲ 91.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €7.3m | €10.4m | €10.9m | €10.9m | €10.8m | €10.7m | €9.5m | €9.1m | ▼ 4.4% |
| Equity10/15 | €5.9m | €5.1m | €5.2m | €5.2m | €5.2m | €5.3m | €5.4m | €5.2m | ▼ 3.0% |
| Contributions10/11 | €5.3m | €4.1m | €4.1m | €4.1m | €4.1m | €4.1m | €4.1m | €4.1m | = |
| Capital10 | - | €4.1m | - | €4.1m | €4.1m | €4.1m | €4.1m | €4.1m | = |
| Issued capital100 | - | €4.1m | - | €4.1m | €4.1m | €4.1m | €4.1m | €4.1m | = |
| Reserves13 | €0.4m | €1.0m | €1.0m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | ▼ 1.9% |
| Non-distributable reserves130/1 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Legal reserve130 | - | €0.2m | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Tax-exempt reserves132 | - | €0.4m | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 6.4% |
| Distributable reserves133 | - | €0.4m | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Profit (loss) carried forward14 | €0.2m | €0.05m | €0.2m | €0.1m | €0.2m | €0.3m | €0.4m | €0.2m | ▼ 38.4% |
| Provisions and deferred taxes16 | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | €0.1m | ▼ 6.4% |
| Deferred taxes168 | - | €0.2m | - | €0.2m | €0.2m | €0.1m | €0.1m | €0.1m | ▼ 6.4% |
| Amounts payable17/49 | €1.4m | €5.0m | €5.6m | €5.5m | €5.4m | €5.2m | €4.0m | €3.8m | ▼ 6.1% |
| Amounts payable after more than one year17 | €0.9m | €2.6m | €2.6m | €1.9m | €1.9m | €0.7m | €0 | - | - |
| Financial debts170/4 | - | €2.6m | - | €1.9m | €1.9m | €0.7m | €0 | - | - |
| Amounts payable within one year42/48 | €0.6m | €2.5m | €3.7m | €3.7m | €3.6m | €4.5m | €4.0m | €3.8m | ▼ 6.1% |
| Trade debts44 | €0.008m | €0.06m | €0.06m | €0.08m | €0.1m | €0.08m | €0.07m | €0.1m | ▲ 67.7% |
| Suppliers440/4 | - | €0.06m | - | €0.08m | €0.1m | €0.08m | €0.07m | €0.1m | ▲ 67.7% |
| Taxes, remuneration and social security45 | - | €0.04m | - | €0.04m | €0.06m | €0.04m | €0.05m | €0.03m | ▼ 37.6% |
| Taxes450/3 | - | - | - | €0.01m | €0.04m | €0.03m | €0.04m | €0.03m | ▼ 43.9% |
| Remuneration and social security454/9 | - | €0.04m | - | €0.03m | €0.02m | €0.007m | €0.007m | €0.007m | ▲ 3.6% |
| Other amounts payable47/48 | - | €2.4m | - | €3.6m | €3.4m | €4.4m | €3.9m | €3.6m | ▼ 7.1% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €0.003m | €0 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.2m | €0.1m | €0.1m | -€0.004m | €0.05m | €0.1m | €0.06m | -€0.2m | ▼ 388% |
| + Depreciation and write-downs630 | €0.01m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 0.8% |
| Operating cash flow (approximation) | €0.2m | €0.3m | €0.3m | €0.1m | €0.2m | €0.2m | €0.2m | -€0.03m | ▼ 119% |
| Investment in fixed assets (approximation) | - | -€4.2m | -€1.2m | -€0.07m | -€0.09m | -€0.02m | -€0.02m | €0.3m | ▲ 1,724% |
| Change in cash | - | -€0.3m | €0 | -€0.4m | €0.002m | -€0.02m | €0.09m | €0.1m | ▲ 30.3% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Similar companies · same sector, comparable size
REMAKO INVEST
BE 0888.087.854
Sint-Niklaas · equity €5,221,562
GROEP ANDRIES
BE 0839.915.674
Aalter · equity €5,225,968
Axin Capital Holding
BE 0886.141.124
Tielt · equity €5,226,000
DROPSOLID INTERNATIONAL HOLDING
BE 1002.715.229
Gent · equity €5,226,911
PGMS
BE 0439.491.756
Sint-Martens-Latem · equity €5,227,145
Of the 24,714 companies in this sector, figures are known for 20,185. 8,107 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector