DVI
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 31-03-2026 PDF all 13 filings
Turnover
≈ €98,000
Estimated: probably between €74,000 and €140,000
Total assets
€20,315▲ 250%
2024 · €5,811
Net result
€33,433
2024 · -€4,586
Working capital
-€17,793▲ 65.2%
2024 · -€51,074
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€33,843
2025
20192025
Net result
€33,433
2025
middle half of the sector
20192025
Equity
-€17,024
▲ 66.3%
2025
lowest quarter of the sector
20192025
Total assets
€20,315
▲ 250%
2025
lowest quarter of the sector
20192025
Debt
€37,339
▼ 33.6%
2025
20192025
Working capital
-€17,793
▲ 65.2%
2025
lowest quarter of the sector
20192025
Solvency
-83.8%
▲ 784.5pp
2025
lowest quarter of the sector
20192025
Current ratio
0.52
▲ 0.43
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
164.6%
▲ 243.5pp
2025
highest quarter of the sector
20192025
Staff (FTE)
no figure
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€53,380-€3,965-€554-€21,406▼ 3,767%-€10,846▲ 49.3%-€3,812▲ 64.9%€33,843
Net result-€33,595-€3,523within the sector's middle half-€1,191below the sector's middle half-€21,585below the sector's middle half▼ 1,713%-€11,805below the sector's middle half▲ 45.3%-€4,586below the sector's middle half▲ 61.2%€33,433within the sector's middle half
Equity€11,865-€15,388below the sector's middle half▲ 29.7%-€12,483below the sector's middle half-€34,067below the sector's middle half▼ 173%-€45,872below the sector's middle half▼ 34.7%-€50,458below the sector's middle half▼ 10.0%-€17,024below the sector's middle half▲ 66.3%
Total assets€58,685-€62,296below the sector's middle half▲ 6.2%€41,129below the sector's middle half▼ 34.0%€19,827below the sector's middle half▼ 51.8%€16,543below the sector's middle half▼ 16.6%€5,811below the sector's middle half▼ 64.9%€20,315below the sector's middle half▲ 250%
Debt€46,821-€46,908▲ 0.2%€53,611▲ 14.3%€53,894▲ 0.5%€62,415▲ 15.8%€56,269▼ 9.8%€37,339▼ 33.6%
Working capital€31,924-€29,212within the sector's middle half▼ 8.5%-€6,127below the sector's middle half-€35,530below the sector's middle half▼ 480%-€47,160below the sector's middle half▼ 32.7%-€51,074below the sector's middle half▼ 8.3%-€17,793below the sector's middle half▲ 65.2%
Solvency20.2%-24.7%within the sector's middle half▲ 4.5pp-30.4%below the sector's middle half▼ 55.1pp-171.8%below the sector's middle half▼ 141.5pp-277.3%below the sector's middle half▼ 105.5pp-868.3%below the sector's middle half▼ 591.0pp-83.8%below the sector's middle half▲ 784.5pp
Current ratio2.29-1.92within the sector's middle half▼ 0.370.87below the sector's middle half▼ 1.050.33below the sector's middle half▼ 0.530.24below the sector's middle half▼ 0.090.09below the sector's middle half▼ 0.150.52below the sector's middle half▲ 0.43
Return on assets (ROA)-57.2%-5.7%within the sector's middle half▲ 62.9pp-2.9%below the sector's middle half▼ 8.6pp-108.9%below the sector's middle half▼ 106.0pp-71.4%below the sector's middle half▲ 37.5pp-78.9%below the sector's middle half▼ 7.6pp164.6%above the sector's middle half▲ 243.5pp
Staff (FTE)1-1within the sector's middle half=1=1=1=
above
within
below
The sector band is the middle half of the companies in Architectural and engineering activities; technical testing and analysis (NACE 71). 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 €33,843, after a loss of €3,812 in 2024. It is the highest result since 2021.
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 €20,315
Fixed assets
€769 ▲ 24.7%
Current assets
€19,546 ▲ 276%
Equity and liabilities
Equity-€17,024
Debt€37,339
Equity is negative. Debt (€37,339) exceeds the balance-sheet total (€20,315).
Key figures and ratios
EBITDA
€34,235▲
2024 · -€3,141
Cash flow
€33,826▲
2024 · -€3,915
Interest coverage
over 100▲
2024 · -6.77
Debt ≤ 1 year
€37,339▼
2024 · €56,269
Income taxes
€250▼
2024 · €359
Staff costs
€251▲
2024 · €166
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.
Staff
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | - |
| full-time | 1 | 1 | - |
| in full-time equivalents | 1 | 1 | - |
| Average over the year, in full-time equivalents | 1 | - | 1 |
| On a permanent contract | 1 | 1 | - |
| Joined | - | - | 0 |
| Left | - | - | 1 |
Source: social balance sheet in the 2021 to 2023 annual accounts
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,545 | €1,389 | - | - | €545 |
| Depreciation and write-downs of the year | €1,064 | €889 | €793 | €671 | €392 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €26,477 | €33,623 | €47,693 | €166 | €251 | ▲ 51.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,061 | €1,217 | €1,064 | €889 | €793 | €671 | €392 | ▼ 41.6% |
| Other operating charges640/8 | - | - | €321 | €275 | €251 | €314 | €292 | ▼ 7.1% |
| Gross operating margin9900 | -€16,009 | €40,925 | €27,309 | €13,381 | €37,891 | -€2,661 | €34,778 | - |
| Operating profit (loss)9901 | -€53,380 | €3,965 | -€554 | -€21,406 | -€10,846 | -€3,812 | €33,843 | - |
| Financial income75/76B | - | - | €720 | €420 | - | €50 | €6 | ▼ 88.9% |
| Recurring financial income75 | €903 | €720 | €720 | €420 | - | €50 | €6 | ▼ 88.9% |
| Financial charges65/66B | - | - | €768 | €758 | €548 | €464 | €165 | ▼ 64.4% |
| Recurring financial charges65 | €1,484 | €1,021 | €768 | €758 | €548 | €464 | €165 | ▼ 64.4% |
| Profit (loss) for the period before taxes9903 | -€33,596 | €3,665 | -€601 | -€21,744 | -€11,393 | -€4,227 | €33,683 | - |
| Income taxes67/77 | -€1 | €142 | €590 | -€159 | €412 | €359 | €250 | ▼ 30.5% |
| Profit (loss) for the period9904 | -€33,595 | €3,523 | -€1,191 | -€21,585 | -€11,805 | -€4,586 | €33,433 | - |
| Profit (loss) for the period to be appropriated9905 | -€33,595 | €3,523 | -€1,191 | -€21,585 | -€11,805 | -€4,586 | €33,433 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €58,685 | €62,296 | €41,129 | €19,827 | €16,543 | €5,811 | €20,315 | ▲ 250% |
| Fixed assets21/28 | €2,007 | €1,260 | €1,580 | €2,080 | €1,288 | €616 | €769 | ▲ 24.7% |
| Intangible fixed assets21 | €1,246 | €623 | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €601 | €476 | €1,580 | €2,080 | €1,288 | €616 | €769 | ▲ 24.7% |
| Plant, machinery and equipment23 | - | - | €1,580 | €2,080 | €1,288 | €616 | €769 | ▲ 24.7% |
| Financial fixed assets28 | €160 | €160 | - | - | - | - | - | - |
| Current assets29/58 | €56,679 | €61,037 | €39,549 | €17,747 | €15,255 | €5,195 | €19,546 | ▲ 276% |
| Amounts receivable after more than one year29 | - | - | €15,200 | - | - | - | - | - |
| Other amounts receivable291 | - | - | €15,200 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €7,611 | €21,528 | €9,401 | €11,485 | €10,652 | €2,801 | €16,938 | ▲ 505% |
| Trade receivables40 | - | - | €9,281 | €11,365 | €10,521 | €2,668 | €16,808 | ▲ 530% |
| Other amounts receivable41 | - | - | €120 | €120 | €131 | €133 | €130 | ▼ 2.0% |
| Cash at bank and in hand54/58 | €19,068 | €14,309 | €14,948 | €6,262 | €891 | €2,394 | €2,608 | ▲ 8.9% |
| Deferred charges and accrued income490/1 | - | - | - | - | €3,712 | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €58,685 | €62,296 | €41,129 | €19,827 | €16,543 | €5,811 | €20,315 | ▲ 250% |
| Equity10/15 | €11,865 | €15,388 | -€12,483 | -€34,067 | -€45,872 | -€50,458 | -€17,024 | ▲ 66.3% |
| Contributions10/11 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €76,807 | €76,807 | €50,127 | €50,127 | €50,127 | €48,267 | €48,267 | = |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | €48,267 | €48,267 | €48,267 | €48,267 | €48,267 | = |
| Profit (loss) carried forward14 | -€71,142 | -€67,619 | -€68,810 | -€90,394 | -€102,199 | -€104,925 | -€71,491 | ▲ 31.9% |
| Amounts payable17/49 | €46,821 | €46,908 | €53,611 | €53,894 | €62,415 | €56,269 | €37,339 | ▼ 33.6% |
| Amounts payable after more than one year17 | €22,066 | €15,084 | €7,936 | €617 | - | - | - | - |
| Financial debts170/4 | - | - | €7,936 | €617 | - | - | - | - |
| Amounts payable within one year42/48 | €24,754 | €31,824 | €45,676 | €53,277 | €62,415 | €56,269 | €37,339 | ▼ 33.6% |
| Current portion of amounts payable after more than one year42 | - | - | €7,148 | €7,318 | €617 | - | - | - |
| Trade debts44 | €7,611 | €2,819 | €1,883 | €5,181 | €16,071 | €6,247 | €6,608 | ▲ 5.8% |
| Suppliers440/4 | - | - | €1,883 | €5,181 | €16,071 | €6,247 | €6,608 | ▲ 5.8% |
| Taxes, remuneration and social security45 | - | - | €5,502 | €8,048 | €9,884 | €1,262 | €2,124 | ▲ 68.4% |
| Taxes450/3 | - | - | €1,536 | €3,154 | €4,099 | €1,262 | €2,124 | ▲ 68.4% |
| Remuneration and social security454/9 | - | - | €3,967 | €4,895 | €5,785 | - | - | - |
| Other amounts payable47/48 | - | - | €31,142 | €32,729 | €35,842 | €48,760 | €28,607 | ▼ 41.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€33,595 | €3,523 | -€1,191 | -€21,585 | -€11,805 | -€4,586 | €33,433 | - |
| + Depreciation and write-downs630 | €1,061 | €1,217 | €1,064 | €889 | €793 | €671 | €392 | ▼ 41.6% |
| Operating cash flow (approximation) | -€32,534 | €4,741 | -€127 | -€20,696 | -€11,012 | -€3,915 | €33,826 | - |
| Investment in fixed assets (approximation) | - | -€470 | -€1,385 | -€1,389 | €0 | €0 | -€545 | - |
| Change in cash | - | -€4,759 | €639 | -€8,686 | -€5,371 | €1,503 | €214 | ▼ 85.8% |
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, 3,632 companies had the same profile as DVI has now. Two years later, 91.9% were still going and 2.9% had gone bankrupt.
- Micro
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
91.9%
was still going
4.8%
stopped otherwise
2.9%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of DVI itself is lower: 0.2% within 12 months. It rests on far more data about DVI than the profile alone.
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 3,632 companies, not a prediction for DVI. 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 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 31-03-2026 | 2026-00068490 | |
| 30-09-2024 | micro format | 22-04-2025 | 2025-00073563 | |
| 30-09-2023 | micro format | 29-04-2024 | 2024-00080173 | |
| 30-09-2022 | micro format | 28-04-2023 | 2023-00077216 | |
| 30-09-2021 | micro format | 28-04-2022 | 2022-20018093 | |
| 30-09-2020 | micro format | 30-03-2021 | 2021-09100482 | |
| 30-09-2019 | micro format | 07-04-2020 | 2020-09000056 | |
| 30-09-2018 | micro format | 10-04-2019 | 2019-09700542 | |
| 30-09-2017 | micro format | 27-04-2018 | 2018-11200435 | |
| 30-09-2016 | abbreviated format | 26-04-2017 | 2017-10300585 |