DUCOMAT
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 20-01-2026 PDF all 20 filings
Turnover
≈ €3.9m
Estimated: probably between €2.5m and €6.6m
EBIT margin
Not included in this filing
Net result
€233,532▼ 30.7%
2024 · €337,174
Working capital
€1.3m▲ 20.5%
2024 · €1.1m
In the rankings
#2 company by equity in Baelen, Wholesale and retail trade sector#4 company by total assets in Baelen, Wholesale and retail trade sector
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€384,391
▼ 24.5%
2025
20192025
Net result
€233,532
▼ 30.7%
2025
middle half of the sector
20192025
Equity
€1.4m
▲ 20.3%
2025
middle half of the sector
20192025
Total assets
€1.8m
▼ 15.7%
2025
middle half of the sector
20192025
Debt
€399,580
▼ 58.6%
2025
20192025
Working capital
€1.3m
▲ 20.5%
2025
middle half of the sector
20192025
Solvency
77.6%
▲ 23.3pp
2025
highest quarter of the sector
20192025
Current ratio
4.75
▲ 2.56
2025
highest quarter of the sector
20192025
Return on assets (ROA)
13.1%
▼ 2.8pp
2025
highest quarter of the sector
20192025
Staff (FTE)
5.9
▲ 9.3%
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.04m-€0.08m▲ 102%€0.2m▲ 110%€0.5m▲ 183%€0.4m▼ 15.3%€0.5m▲ 19.8%€0.4m▼ 24.5%
Net result€0.01m-€0.04mwithin the sector's middle half▲ 204%€0.1mwithin the sector's middle half▲ 211%€0.4mwithin the sector's middle half▲ 214%€0.3mwithin the sector's middle half▼ 17.4%€0.3mwithin the sector's middle half▲ 15.2%€0.2mwithin the sector's middle half▼ 30.7%
Equity€0.2m-€0.2mwithin the sector's middle half▲ 21.9%€0.3mwithin the sector's middle half▲ 55.8%€0.7mwithin the sector's middle half▲ 112%€0.8mwithin the sector's middle half▲ 21.3%€1.1mwithin the sector's middle half▲ 41.5%€1.4mwithin the sector's middle half▲ 20.3%
Total assets€0.8m-€0.8mwithin the sector's middle half▼ 5.2%€0.9mwithin the sector's middle half▲ 10.8%€1.4mwithin the sector's middle half▲ 57.6%€1.7mwithin the sector's middle half▲ 24.4%€2.1mwithin the sector's middle half▲ 21.8%€1.8mwithin the sector's middle half▼ 15.7%
Debt€0.7m-€0.6m▼ 11.8%€0.6m▼ 4.5%€0.7m▲ 27.3%€0.9m▲ 27.3%€1.0m▲ 4.5%€0.4m▼ 58.6%
Working capital€0.1m-€0.2mwithin the sector's middle half▲ 25.0%€0.3mwithin the sector's middle half▲ 67.5%€0.6mwithin the sector's middle half▲ 120%€0.7mwithin the sector's middle half▲ 25.4%€1.1mwithin the sector's middle half▲ 49.9%€1.3mwithin the sector's middle half▲ 20.5%
Solvency19.7%-25.3%within the sector's middle half▲ 5.6pp35.6%within the sector's middle half▲ 10.3pp48.0%within the sector's middle half▲ 12.4pp46.8%within the sector's middle half▼ 1.2pp54.3%within the sector's middle half▲ 7.6pp77.6%above the sector's middle half▲ 23.3pp
Current ratio1.18-1.26within the sector's middle half▲ 0.081.48within the sector's middle half▲ 0.221.87within the sector's middle half▲ 0.391.82within the sector's middle half▼ 0.052.18within the sector's middle half▲ 0.364.75above the sector's middle half▲ 2.56
Return on assets (ROA)1.4%-4.5%within the sector's middle half▲ 3.1pp12.7%above the sector's middle half▲ 8.2pp25.4%above the sector's middle half▲ 12.6pp16.9%above the sector's middle half▼ 8.5pp15.9%above the sector's middle half▼ 0.9pp13.1%above the sector's middle half▼ 2.8pp
Staff (FTE)4.1-3.5within the sector's middle half▼ 14.6%3.8within the sector's middle half▲ 8.6%1.5below the sector's middle half▼ 60.5%4.9within the sector's middle half▲ 227%5.4within the sector's middle half▲ 10.2%5.9within the sector's middle half▲ 9.3%
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 24% lower than in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.8m
Fixed assets
€134,563 ▲ 8.0%
Current assets
€1.6m ▼ 17.2%
Equity and liabilities €1.8m
Equity
€1.4m ▲ 20.3%
Debt
€399,580 ▼ 58.6%
Debt's share of the balance-sheet total falls from 45.7% to 22.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€437,492▼
2024 · €552,448
Cash flow
€286,633▼
2024 · €380,603
Quick ratio
2.53▲
2024 · 1.28
Debt to equity
0.29▼
2024 · 0.84
ROE
16.9%▼
2024 · 29.3%
Interest coverage
10.33▼
2024 · 10.86
Debt ≤ 1 year
€346,963▼
2024 · €911,145
Debt > 1 year
€40,407▼
2024 · €43,073
Income taxes
€114,702▼
2024 · €144,628
Staff costs
€284,351▲
2024 · €258,192
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 5 | 6 | 7 | 6 |
| full-time | 4 | 4 | 5 | 5 |
| part-time | 1 | 2 | 2 | 1 |
| in full-time equivalents | 4.9 | 5.1 | 6.1 | 5.9 |
| Average over the year, in full-time equivalents | 1.5 | 4.9 | 5.4 | 5.9 |
| On a permanent contract | 5 | 3 | 5 | 5 |
| Joined | 3 | 6 | 3 | 1 |
| Left | 4 | 5 | 3 | 2 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Securities and guarantees
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Pledge on the business | €150,000 | €100,000 | €100,000 | €100,000 |
| Mandates to pledge the business | - | €50,000 | €50,000 | €50,000 |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €110,406 | €95,604 | €27,750 | €116,298 |
| Intangible fixed assets | €26,520 | - | - | €23,006 |
| Financial fixed assets | - | €50 | - | - |
| Depreciation and write-downs of the year | €41,795 | €43,676 | €43,429 | €53,100 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €222,218 | €246,053 | €258,192 | €284,351 | ▲ 10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,636 | €17,268 | €23,484 | €41,795 | €43,676 | €43,429 | €53,100 | ▲ 22.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0 | €6,388 | €0 | - | - |
| Other operating charges640/8 | - | - | - | €16,813 | €24,483 | €12,254 | €39,892 | ▲ 226% |
| Gross operating margin9900 | €240,728 | €360,835 | €392,106 | €782,148 | €745,369 | €822,894 | €761,735 | ▼ 7.4% |
| Operating profit (loss)9901 | €41,858 | €84,462 | €177,033 | €501,322 | €424,770 | €509,019 | €384,391 | ▼ 24.5% |
| Financial income75/76B | - | - | - | €8,991 | €3,325 | €23,672 | €6,184 | ▼ 73.9% |
| Recurring financial income75 | €5,866 | €917 | €999 | €8,991 | €3,325 | €23,672 | €6,184 | ▼ 73.9% |
| Financial charges65/66B | - | - | - | €28,974 | €37,430 | €50,889 | €42,340 | ▼ 16.8% |
| Recurring financial charges65 | €26,152 | €25,202 | €27,107 | €28,974 | €37,430 | €50,889 | €42,340 | ▼ 16.8% |
| Profit (loss) for the period before taxes9903 | €21,572 | €60,177 | €150,925 | €481,339 | €390,665 | €481,801 | €348,235 | ▼ 27.7% |
| Income taxes67/77 | €9,626 | €23,856 | €38,049 | €127,053 | €97,947 | €144,628 | €114,702 | ▼ 20.7% |
| Profit (loss) for the period9904 | €11,946 | €36,321 | €112,876 | €354,286 | €292,718 | €337,174 | €233,532 | ▼ 30.7% |
| Transfer to tax-exempt reserves689 | - | - | - | - | €84,200 | €84,200 | €0 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | €11,946 | €36,321 | €112,876 | €354,286 | €208,518 | €252,974 | €233,532 | ▼ 7.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.8m | €0.8m | €0.9m | €1.4m | €1.7m | €2.1m | €1.8m | ▼ 15.7% |
| Fixed assets21/28 | €0.04m | €0.05m | €0.08m | €0.2m | €0.1m | €0.1m | €0.1m | ▲ 8.0% |
| Intangible fixed assets21 | €0.03m | €0.03m | €0.03m | €0.04m | €0.03m | €0.02m | €0.03m | ▲ 63.0% |
| Tangible fixed assets22/27 | €0.01m | €0.02m | €0.05m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 1.2% |
| Plant, machinery and equipment23 | - | - | - | €0.09m | €0.1m | €0.1m | €0.1m | ▼ 6.3% |
| Furniture and vehicles24 | - | - | - | €0.03m | €0.004m | €0.002m | €0.007m | ▲ 292% |
| Financial fixed assets28 | €105 | €105 | €105 | €105 | €155 | €155 | €155 | = |
| Current assets29/58 | €0.8m | €0.8m | €0.8m | €1.2m | €1.6m | €2.0m | €1.6m | ▼ 17.2% |
| Amounts receivable after more than one year29 | - | - | - | - | €0.004m | €0.004m | €0.004m | = |
| Trade receivables290 | - | - | - | - | €0.004m | €0.004m | €0.004m | = |
| Stocks and contracts in progress3 | €0.4m | €0.4m | €0.5m | €0.6m | €0.9m | €0.8m | €0.8m | ▼ 6.6% |
| Stocks30/36 | - | - | - | €0.6m | €0.9m | €0.8m | €0.8m | ▼ 6.6% |
| Amounts receivable within one year40/41 | €0.4m | €0.3m | €0.3m | €0.4m | €0.4m | €0.6m | €0.4m | ▼ 41.4% |
| Trade receivables40 | - | - | - | €0.4m | €0.4m | €0.6m | €0.2m | ▼ 62.9% |
| Other amounts receivable41 | - | - | - | €0.001m | €316 | €0.002m | €0.1m | ▲ 75× |
| Cash at bank and in hand54/58 | €0.05m | €0.07m | €0.07m | €0.3m | €0.4m | €0.5m | €0.4m | ▼ 22.3% |
| Deferred charges and accrued income490/1 | - | - | - | €0.006m | €0.009m | €0.02m | €0.1m | ▲ 465% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.8m | €0.8m | €0.9m | €1.4m | €1.7m | €2.1m | €1.8m | ▼ 15.7% |
| Equity10/15 | €0.2m | €0.2m | €0.3m | €0.7m | €0.8m | €1.1m | €1.4m | ▲ 20.3% |
| Contributions10/11 | €0.03m | €0.03m | - | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Reserves13 | €0.003m | €0.003m | €0.003m | €0.003m | €0.09m | €0.4m | €0.7m | ▲ 55.0% |
| Non-distributable reserves130/1 | - | - | - | €0.003m | €0.003m | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.003m | €0.003m | €0 | - | - |
| Tax-exempt reserves132 | - | - | - | - | €0.08m | €0.2m | €0.2m | = |
| Distributable reserves133 | - | - | - | - | - | €0.3m | €0.5m | ▲ 91.3% |
| Profit (loss) carried forward14 | €0.1m | €0.2m | €0.3m | €0.6m | €0.7m | €0.7m | €0.7m | = |
| Amounts payable17/49 | €0.7m | €0.6m | €0.6m | €0.7m | €0.9m | €1.0m | €0.4m | ▼ 58.6% |
| Amounts payable after more than one year17 | - | - | €0.01m | €0.06m | €0.04m | €0.04m | €0.04m | ▼ 6.2% |
| Financial debts170/4 | - | - | - | €0.06m | €0.04m | €0.04m | €0.04m | ▼ 6.2% |
| Amounts payable within one year42/48 | €0.7m | €0.6m | €0.5m | €0.7m | €0.9m | €0.9m | €0.3m | ▼ 61.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.02m | €0.08m | €0.02m | €0.03m | ▲ 25.7% |
| Financial debts43 | - | - | - | €0.3m | €0.3m | €0.4m | €0.06m | ▼ 83.7% |
| Credit institutions430/8 | - | - | - | €0.3m | €0.3m | €0.4m | €0.06m | ▼ 83.7% |
| Trade debts44 | €0.3m | €0.2m | €0.1m | €0.2m | €0.3m | €0.4m | €0.1m | ▼ 70.8% |
| Suppliers440/4 | - | - | - | €0.2m | €0.3m | €0.4m | €0.1m | ▼ 70.8% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.04m | €0.07m | €0.08m | ▲ 11.9% |
| Taxes450/3 | - | - | - | €0.07m | €0.003m | €0.04m | €0.05m | ▲ 23.6% |
| Remuneration and social security454/9 | - | - | - | €0.03m | €0.03m | €0.04m | €0.04m | = |
| Other amounts payable47/48 | - | - | - | €0.03m | €0.2m | €0.07m | €0.07m | ▲ 0.1% |
| Accrued charges and deferred income492/3 | - | - | - | €0.007m | €0.01m | €0.01m | €0.01m | ▲ 2.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,946 | €36,321 | €112,876 | €354,286 | €292,718 | €337,174 | €233,532 | ▼ 30.7% |
| + Depreciation and write-downs630 | €19,636 | €17,268 | €23,484 | €41,795 | €43,676 | €43,429 | €53,100 | ▲ 22.3% |
| Operating cash flow (approximation) | €31,582 | €53,588 | €136,361 | €396,081 | €336,395 | €380,603 | €286,633 | ▼ 24.7% |
| Investment in fixed assets (approximation) | - | -€24,222 | -€52,926 | -€125,652 | -€22,692 | -€27,750 | -€63,033 | ▼ 127% |
| Change in cash | - | €22,627 | €1,528 | €237,983 | €49,910 | €161,766 | -€116,558 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 31,368 companies had the same profile as DUCOMAT has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DUCOMAT itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 31,368 companies, not a prediction for DUCOMAT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 20 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | full format | 20-01-2026 | 2026-00010491 | |
| 30-06-2024 | full format | 18-12-2024 | 2024-00620618 | |
| 30-06-2023 | full format | 10-01-2024 | 2024-00000939 | |
| 30-06-2022 | full format | 30-01-2023 | 2023-00025182 | |
| 30-06-2021 | full format | 16-12-2021 | 2021-80700102 | |
| 30-06-2020 | full format | 22-01-2021 | 2021-01600556 | |
| 30-06-2019 | full format | 27-01-2020 | 2020-02500433 | |
| 30-06-2018 | full format | 31-01-2019 | 2019-04200112 | |
| 30-06-2017 | full format | 26-01-2018 | 2018-03500407 | |
| 30-06-2016 | full format | 24-02-2017 | 2017-05200071 |