Active BE 0886.280.288Public limited company

DVH

Rosstraat (BAA) 206 ·9200 Dendermonde, Belgium· 19 yrs active

Sector: Renting and operating of own or leased non-residential real estate, excluding land (68203)

Conclusion Checked

DVH has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €452k and a net result of €44k. Equity is growing by ~10.5% per year across the filed fiscal years. Its solvency ranks better than 68% of 13549 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Based on the State Gazette, CBE and 4 annual accounts.

Key figures

Equity	€452k
Net result	€44k
Better than sector	68%
Active	19 yrs

Financial profile 5 of 5 axes measured · computed by Checked

71 / 100

Strong profile, led by stability.

All 5 axes are computed from data Checked has read.

Health 81

Profitability 49

Solvency 75

Growth 52

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.2% Very low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Established

Founded in 2007, 19 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2025 · computed

81 / 100 Excellent

050100

Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€35k

estimate, not credit advice

Score history

45 2022

53 2023

46 2024

81 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 1.05 (≥ 1.0) +5

Quick ratio Quick ratio 1.05 (≥ 1.0) +5

Leverage Debt/equity 0.86 (< 1.0) +10

Profitability ROE 10% +3

Profit trend Net profit up YoY +5

Equity growth Equity growing YoY +3

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview18 NBB filings

Annual accounts filed on 08-01-2026 with the NBB · fiscal year 2025 · micro schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~10.5%/year over 4 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 68, Real estate activities · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	53.9%	29.9%	better than 68% of 13549 sector peers
Net result	€44k	€6k	better than 80% of 13550 sector peers
Equity	€452k	€79k	better than 82% of 13565 sector peers
Gross operating margin	€84k	€41k	better than 69% of 13533 sector peers
Total assets	€838k	€416k	better than 70% of 13553 sector peers

Net profit

€44k

+17.7% 22-25

Total assets

€838k

-10.2% 22-25

Equity

€452k

+10.8% 22-25

Working capital

€17k

- 22-25

Income taxes

€22k

+26.1% 22-25

Debt

€386k

-26.4% 22-25

Debt ≤ 1y

€362k

-31.0% 22-25

Current ratio

1.05

+16.8% 22-25

Quick ratio

1.05

+16.8% 22-25

Solvency

53.9%

+23.3% 22-25

Debt / equity

0.86

-33.6% 22-25

ROE

9.7%

+6.2% 22-25

ROA

5.2%

+31.0% 22-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023	2022
Deposit	micro schema	micro schema	micro schema	micro schema
Revenue	-	-	-	-
EBITDA	-	-	-	-
Net profit	€44k	€37k	€42k	€130k
Cash flow	-	-	-	-
Staff costs	-	-	-	-
Income taxes	€22k	€17k	€20k	€32k
Dividends	-	-	-	-
Total assets	€838k	€933k	€955k	€1.04M
Equity	€452k	€408k	€370k	€329k
Debt	€386k	€525k	€584k	€714k
of which ≤ 1y	€362k	€525k	€584k	€714k
of which > 1y	-	-	-	-
Working capital	€17k	€-54k	€-92k	€-138k
Employees (FTE)	-	-	-	-

Ratios (computed)

	2025	2024	2023	2022
Current ratio	1.05	0.90	0.84	0.81
Quick ratio	1.05	0.90	0.62	0.26
Working capital ratio	2.0%	-5.8%	-9.6%	-13.3%
Solvency	53.9%	43.7%	38.8%	31.5%
Debt / equity	0.86	1.29	1.58	2.17
Long-term debt ratio	-	-	-	-
Interest coverage	-	-	-	-
Gross margin	-	-	-	-
Net margin	-	-	-	-
ROA	5.2%	4.0%	4.4%	12.5%
ROE	9.7%	9.2%	11.3%	39.6%
EBITDA margin	-	-	-	-
Days sales outstanding	-	-	-	-
Days payable outstanding	-	-	-	-
Inventory turnover	-	-	-	-
Days inventory (DSI)	-	-	-	-

Balance-sheet composition 2025

Assets

Fixed assets €459k · 54.7% Current assets €379k · 45.3%

Equity & liabilities

Equity €452k · 53.9% Debt €386k · 46.1%

Full annual accounts (22 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022
Balance sheet, Assets
TOTAL ASSETS	20/58	€838k	€933k	€955k	€1.04M
Fixed assets	21/28	€459k	€462k	€462k	€467k
Financial fixed assets	28	€459k	€462k	€462k	€467k
Current assets	29/58	€379k	€471k	€492k	€576k
Stocks & contracts in progress	3	-	-	€133k	€393k
Amounts receivable within one year	40/41	€414	€9k	€400	€27k
Cash & bank	54/58	€379k	€462k	€359k	€155k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€838k	€933k	€955k	€1.04M
Equity	10/15	€452k	€408k	€370k	€329k
Contributions / capital	10/11	€260k	€260k	€260k	€260k
Reserves	13	€192k	€148k	€110k	€69k
Amounts payable	17/49	€386k	€525k	€584k	€714k
Amounts payable within one year	42/48	€362k	€525k	€584k	€714k
Trade debts payable within one year	44	€152	€1k	€66k	€198k
Income statement
Gross operating margin	9900	€84k	€50k	€63k	€167k
Operating result	9901	€83k	€49k	€62k	€166k
Financial income	75	€8k	€6k	-	-
Financial charges	65	€26k	€516	€360	€4k
Result before taxes	9903	€66k	€55k	€62k	€162k
Income taxes	67/77	€22k	€17k	€20k	€32k
Net result for the period	9904	€44k	€37k	€42k	€130k
Result to be appropriated	9905	€44k	€37k	€42k	€130k

Directors & mandates 3 directors

Directors derived from a single State Gazette act, under verification

All 3 current directors first appear in the same act (24328070). Founders or capital subscribers may have been counted as directors here; the real board composition is being verified.

Current directors & mandates

Hubert DE VLIEGER
Director
State Gazette act 24328070 (16-01-2024)

Current
29-06-2023 → present
3 events
- 29-06-2023 Appointed· Director
- 29-06-2023 Appointed· Chair
- 29-06-2023 Appointed· Managing director
Lynn DE VLIEGER
Director
State Gazette act 24328070 (16-01-2024)

Current
29-06-2023 → present
Nick DE VLIEGER
Director
State Gazette act 24328070 (16-01-2024)

Current
29-06-2023 → present

Legal Structure

NACE primary	Renting and operating of own or leased non-residential real estate, excluding land(68203)
Legal form	Public limited company(014)
Incorporation	10-01-2007
Status	Active
Postal code	9200

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
42002B0887/00A002	Flanders	692 m²	1 · 151 m²	7.1 m · 1 fl.

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 11 events

All 12Financial 1Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 31-01-2027

2026

08-01

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

03-01

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

30-06

Financial Weakest financial yearnet €37k ▼10.4%

Net result drops to €37k, the lowest in the series; recovery starts the following year.

16-01

State Gazette act Director changes

Marianda Moyson

2023

22-12

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

04-01

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2021

23-12

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

25-01

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

08-01

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2018

19-12

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

2017

20-07

NBB filing Annual accounts filed

fiscal year 2016 · micro schema

2016

29-07

NBB filing Annual accounts filed

fiscal year 2015 · abbreviated schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 3 acts read

We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 2 years ago

2024

16-01-2024 5 directors appointed Director changes·Marianda Moyson

Hubert DE VLIEGER, Bestuurder
Nick DE VLIEGER, Bestuurder
Lynn DE VLIEGER, Bestuurder
Hubert DE VLIEGER, Voorzitter
Hubert DE VLIEGER, Gedelegeerd bestuurder

Notary: Marianda Moyson · Kapelle-op-den-BosFirm: Notariskantoor Moyson en Prodan

Original publication ↗

Technical details

{
  "events": [
    {
      "kind": "director_in",
      "role": "bestuurder",
      "person": {
        "rrn": null,
        "name": "Hubert DE VLIEGER",
        "address": null,
        "birth_date": "1959-05-09",
        "profession": null,
        "birth_place": null
      },
      "reason": null,
      "subkind": "renewal",
      "via_org": null,
      "statutory": "statutair",
      "compensated": null,
      "effective_date": "2023-06-29",
      "evidence_quote": "",
      "decharge_status": null,
      "mandate_duration": {
        "kind": "n_years",
        "value": "6"
      },
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    },
    {
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        "profession": null,
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      },
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      "compensated": null,
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      "evidence_quote": "",
      "decharge_status": null,
      "mandate_duration": {
        "kind": "n_years",
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      },
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": null
    },
    {
      "kind": "director_in",
      "role": "bestuurder",
      "person": {
        "rrn": null,
        "name": "Lynn DE VLIEGER",
        "address": null,
        "birth_date": "1986-08-25",
        "profession": null,
        "birth_place": null
      },
      "reason": null,
      "subkind": "renewal",
      "via_org": null,
      "statutory": "statutair",
      "compensated": null,
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      "evidence_quote": "",
      "decharge_status": null,
      "mandate_duration": {
        "kind": "n_years",
        "value": "6"
      },
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": null
    },
    {
      "kind": "director_in",
      "role": "voorzitter",
      "person": {
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        "profession": null,
        "birth_place": null
      },
      "reason": null,
      "subkind": "renewal",
      "via_org": null,
      "statutory": "statutair",
      "compensated": null,
      "effective_date": "2023-06-29",
      "evidence_quote": "",
      "decharge_status": null,
      "mandate_duration": null,
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": null
    },
    {
      "kind": "director_in",
      "role": "gedelegeerd_bestuurder",
      "person": {
        "rrn": null,
        "name": "Hubert DE VLIEGER",
        "address": null,
        "birth_date": "1959-05-09",
        "profession": null,
        "birth_place": null
      },
      "reason": null,
      "subkind": "renewal",
      "via_org": null,
      "statutory": "statutair",
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      "evidence_quote": "",
      "decharge_status": null,
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      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": null
    }
  ],
  "notary": {
    "name": "Marianda Moyson",
    "firm_city": null,
    "firm_name": "Notariskantoor Moyson en Prodan",
    "office_city": "Kapelle-op-den-Bos",
    "is_associated": true
  },
  "act_meta": {
    "language": "nl",
    "pub_date": "2024-01-16",
    "filing_date": "2024-01-12",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decisions": [
    {
      "body": "algemene_vergadering",
      "date": "2023-06-29",
      "unanimous": null
    }
  ],
  "is_correction": false,
  "subject_company": {
    "kbo": "0886.280.288",
    "name_full": "DVH",
    "legal_form": "NV"
  },
  "publication_proxy": {
    "kind": "org",
    "org_kbo": null,
    "org_name": "VAN HERREWEGHE \u0026 PARTNERS",
    "person_name": null,
    "org_rep_person_name": null,
    "person_role_at_subject": null
  },
  "co_filed_documents": [
    "afschrift akte met bijlagen - co\u00F6rdinatie der statuten"
  ],
  "corrected_publication_numac": null
}

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Renting and operating of own or leased non-residential real estate, excluding land68203Renting and operating of own or leased residential real estate, excluding social housing68201Real estate activities68202

Names & trade names

Legal nameNL

DVH

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