DV POOLS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 22-07-2026 at the NBB all 5 filings
Turnover
≈ €190,000
Estimated: probably between €100,000 and €380,000
Total assets
€47,906▼ 28.6%
2024 · €67,092
Net result
€1,091
2024 · -€2,499
Working capital
-€29,036▼ 34.5%
2024 · -€21,587
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€2,761
2025
20212025
Net result
€1,091
2025
middle half of the sector
20212025
Equity
-€9,356
▲ 10.4%
2025
lowest quarter of the sector
20212025
Total assets
€47,906
▼ 28.6%
2025
lowest quarter of the sector
20212025
Debt
€57,262
▼ 26.2%
2025
20212025
Working capital
-€29,036
▼ 34.5%
2025
lowest quarter of the sector
20212025
Solvency
-19.5%
▼ 4.0pp
2025
lowest quarter of the sector
20212025
Current ratio
0.30
▼ 0.31
2025
lowest quarter of the sector
20212025
Return on assets (ROA)
2.3%
▲ 6.0pp
2025
middle half of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result-€38,639-€6,135€12,731▲ 108%-€966€2,761
Net result-€38,670below the sector's middle half-€6,059within the sector's middle half€12,663within the sector's middle half▲ 109%-€2,499below the sector's middle half€1,091within the sector's middle half
Equity-€26,670below the sector's middle half--€20,611below the sector's middle half▲ 22.7%-€7,948below the sector's middle half▲ 61.4%-€10,447below the sector's middle half▼ 31.4%-€9,356below the sector's middle half▲ 10.4%
Total assets€12,679below the sector's middle half-€12,151below the sector's middle half▼ 4.2%€38,135below the sector's middle half▲ 214%€67,092within the sector's middle half▲ 75.9%€47,906below the sector's middle half▼ 28.6%
Debt€39,350-€32,763▼ 16.7%€46,083▲ 40.7%€77,539▲ 68.3%€57,262▼ 26.2%
Working capital-€28,981below the sector's middle half--€22,089below the sector's middle half▲ 23.8%-€8,592below the sector's middle half▲ 61.1%-€21,587below the sector's middle half▼ 151%-€29,036below the sector's middle half▼ 34.5%
Solvency-210.3%below the sector's middle half--169.6%below the sector's middle half▲ 40.7pp-20.8%below the sector's middle half▲ 148.8pp-15.6%below the sector's middle half▲ 5.3pp-19.5%below the sector's middle half▼ 4.0pp
Current ratio0.26below the sector's middle half-0.33below the sector's middle half▲ 0.060.81below the sector's middle half▲ 0.490.61below the sector's middle half▼ 0.200.30below the sector's middle half▼ 0.31
Return on assets (ROA)-305.0%below the sector's middle half-49.9%above the sector's middle half▲ 354.9pp33.2%above the sector's middle half▼ 16.7pp-3.7%below the sector's middle half▼ 36.9pp2.3%within the sector's middle half▲ 6.0pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 a profit of €2,761, after a loss of €966 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €47,906
Fixed assets
€35,275 ▲ 7.0%
Current assets
€12,631 ▼ 63.0%
Equity and liabilities
Equity-€9,356
Debt€57,262
Equity is negative. Debt (€57,262) exceeds the balance-sheet total (€47,906).
Key figures and ratios
EBITDA
€13,150▲
2024 · €6,770
Cash flow
€11,479▲
2024 · €5,237
Interest coverage
7.85▲
2024 · 4.41
Debt ≤ 1 year
€41,667▼
2024 · €55,716
Debt > 1 year
€15,595▼
2024 · €21,823
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €2,500 | - | - | €40,054 | €12,700 |
| Depreciation and write-downs of the year | €189 | €833 | €833 | €7,736 | €10,388 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €189 | €833 | €833 | €7,736 | €10,388 | ▲ 34.3% |
| Other operating charges640/8 | €509 | €410 | €1,321 | €698 | €967 | ▲ 38.5% |
| Gross operating margin9900 | -€37,941 | €7,378 | €14,886 | €7,468 | €14,117 | ▲ 89.0% |
| Operating profit (loss)9901 | -€38,639 | €6,135 | €12,731 | -€966 | €2,761 | - |
| Financial income75/76B | €3 | - | €2 | €1 | €5 | ▲ 435% |
| Recurring financial income75 | €3 | - | €2 | €1 | €5 | ▲ 435% |
| Financial charges65/66B | €35 | €76 | €70 | €1,534 | €1,676 | ▲ 9.2% |
| Recurring financial charges65 | €35 | €76 | €70 | €1,534 | €1,676 | ▲ 9.2% |
| Profit (loss) for the period before taxes9903 | -€38,670 | €6,059 | €12,663 | -€2,499 | €1,091 | - |
| Profit (loss) for the period9904 | -€38,670 | €6,059 | €12,663 | -€2,499 | €1,091 | - |
| Profit (loss) for the period to be appropriated9905 | -€38,670 | €6,059 | €12,663 | -€2,499 | €1,091 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €12,679 | €12,151 | €38,135 | €67,092 | €47,906 | ▼ 28.6% |
| Fixed assets21/28 | €2,311 | €1,477 | €644 | €32,963 | €35,275 | ▲ 7.0% |
| Tangible fixed assets22/27 | €2,311 | €1,477 | €644 | €32,963 | €35,275 | ▲ 7.0% |
| Furniture and vehicles24 | €2,311 | €1,477 | €644 | - | €10,323 | - |
| Leasing and similar rights25 | - | - | - | €32,963 | €24,952 | ▼ 24.3% |
| Current assets29/58 | €10,369 | €10,674 | €37,491 | €34,129 | €12,631 | ▼ 63.0% |
| Amounts receivable within one year40/41 | €1,144 | €5,028 | €15,575 | €25,863 | €11,093 | ▼ 57.1% |
| Trade receivables40 | €831 | €4,123 | €15,575 | €24,353 | €11,093 | ▼ 54.4% |
| Other amounts receivable41 | €313 | €905 | - | €1,510 | - | - |
| Cash at bank and in hand54/58 | €9,225 | €5,646 | €21,916 | €8,236 | €1,023 | ▼ 87.6% |
| Deferred charges and accrued income490/1 | - | - | - | €30 | €515 | ▲ 17× |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €12,679 | €12,151 | €38,135 | €67,092 | €47,906 | ▼ 28.6% |
| Equity10/15 | -€26,670 | -€20,611 | -€7,948 | -€10,447 | -€9,356 | ▲ 10.4% |
| Contributions10/11 | €12,000 | €12,000 | €12,000 | €12,000 | €12,000 | = |
| Profit (loss) carried forward14 | -€38,670 | -€32,611 | -€19,948 | -€22,447 | -€21,356 | ▲ 4.9% |
| Amounts payable17/49 | €39,350 | €32,763 | €46,083 | €77,539 | €57,262 | ▼ 26.2% |
| Amounts payable after more than one year17 | - | - | - | €21,823 | €15,595 | ▼ 28.5% |
| Financial debts170/4 | - | - | - | €21,823 | €15,595 | ▼ 28.5% |
| Amounts payable within one year42/48 | €39,350 | €32,763 | €46,083 | €55,716 | €41,667 | ▼ 25.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €5,833 | €6,227 | ▲ 6.8% |
| Trade debts44 | €8,556 | €719 | €11,980 | €15,650 | €439 | ▼ 97.2% |
| Suppliers440/4 | €8,556 | €719 | €11,980 | €15,650 | €439 | ▼ 97.2% |
| Taxes, remuneration and social security45 | - | - | €2,236 | €2,571 | €3,039 | ▲ 18.2% |
| Taxes450/3 | - | - | €736 | €2,571 | €3,039 | ▲ 18.2% |
| Remuneration and social security454/9 | - | - | €1,500 | - | - | - |
| Other amounts payable47/48 | €30,794 | €32,044 | €31,867 | €31,662 | €31,962 | ▲ 0.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€38,670 | €6,059 | €12,663 | -€2,499 | €1,091 | - |
| + Depreciation and write-downs630 | €189 | €833 | €833 | €7,736 | €10,388 | ▲ 34.3% |
| Operating cash flow (approximation) | -€38,481 | €6,892 | €13,497 | €5,237 | €11,479 | ▲ 119% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€40,054 | -€12,700 | ▲ 68.3% |
| Change in cash | - | -€3,579 | €16,270 | -€13,680 | -€7,212 | ▲ 47.3% |
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, 906 companies had the same profile as DV POOLS has now. Two years later, 89.4% were still going and 6.1% had gone bankrupt.
- Micro
- 5 to 10 years old
- negative equity
- a profit under 5% of the balance sheet
89.4%
was still going
4.1%
stopped otherwise
6.1%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DV POOLS itself: 1.9% 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 906 companies, not a prediction for DV POOLS. 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.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 22-07-2026 | 2026-00330430 | |
| 31-12-2024 | micro format | 03-07-2025 | 2025-00230108 | |
| 31-12-2023 | micro format | 26-07-2024 | 2024-00288213 | |
| 31-12-2022 | micro format | 24-07-2023 | 2023-00265492 | |
| 31-12-2021 | micro format | 01-07-2022 | 2022-20155339 |