Equity
Debts exceed assets in financial year 2024.
Debts exceed assets in financial year 2024.
Every financial year from 2022 to 2024 closed with a loss. 2023 was the heaviest.
Of this, €56,364 falls due within a year.
Green is investment, beige is depreciation.
2025 accounts not filed: deadline was 31-07-2026.
Lower solvency than 91% of companies in retail trade. Sector median 32.2% · 25,554 companies.
The dashed line is the sector median: 0.6% across 40,275 companies (NACE 47, micro).
About 7 in 100 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 47, micro). It does better than 6% of them on solvency, 7% on liquidity, 6% on profitability and 15% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2024.
Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 6,008 companies had the same profile as DVE has now. Each dot stands for 16 companies, two years later.
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DVE itself: 7.1% within 12 months.
The method was tested on the 497,447 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 6,008 companies, not a prediction for DVE. 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.
Liquidity is insufficient, with a current ratio of 0.61 (1.02 in 2023), below 1. Short-term debt is 125.4% and cash 3.6% of total assets. Equity is negative.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 3 accounts on average 153 days after the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| DVE Antwerp | €44,959 | -€8,447 | -109.8% | - |
| NB-auctions Lint | €42,965 | -€38,032 | -98.4% | - |
| NEW TUNES Antwerp | €56,658 | -€23,797 | -227.5% | - |
| ELST Rijkevorsel | €36,018 | -€13,073 | -18.2% | - |
| MY MOBELITY MK Leuven | €50,319 | -€3,746 | 85.3% | - |
| Bluebird Brands Beveren-Kruibeke-Zwijndrecht | €39,800 | -€6,601 | -67.2% | - |
| Gassy Cat Aalst | €41,506 | -€7,804 | -84.6% | - |
These companies have the same main activity as DVE: other non-specialised retail sale (NACE 47120). They are comparable in size and age: total assets between €36,000 and €56,700, founded between 2020 and 2021.
DVE files the micro format. That format states no turnover. The gross margin rose from -€11,463 in 2022 to -€8,447 in 2024.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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