DWS
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 6 days after the deadline Filed on 6 May 2026, deadline 30 April 2026 (7 months after the close on 30 September 2025, Companies Code art. 3:10). Source: NBB, 2026-00104125.
Annual accounts 2025 filed on 06-05-2026 PDF all 11 filings
Every figure per financial year
The operating result for 2025 is a profit of €178,872, after a loss of €14,084 in 2024.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €26,000 | €260,000 | €0 |
| Depreciation and write-downs of the year | €36,758 | €6,758 | €16,393 | €11,561 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €237,214 | - | €171,181 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €36,758 | €36,758 | €36,758 | €36,758 | €6,758 | €16,393 | €11,561 | ▼ 29.5% |
| Other operating charges640/8 | - | - | - | €4,250 | €4,785 | €3,634 | €1,180 | ▼ 67.5% |
| Gross operating margin9900 | €40,361 | €44,338 | €42,755 | €45,681 | €258,850 | €5,943 | €191,614 | ▲ 32× |
| Operating profit (loss)9901 | -€416 | €3,661 | €1,565 | €4,673 | €247,307 | -€14,084 | €178,872 | - |
| Financial income75/76B | - | - | - | - | - | - | €1 | - |
| Recurring financial income75 | - | - | €37 | - | - | - | €1 | - |
| Financial charges65/66B | - | - | - | €9,622 | €8,557 | €43,717 | €9,002 | ▼ 79.4% |
| Recurring financial charges65 | €11,433 | €10,857 | €10,204 | €9,622 | €8,557 | €43,717 | €9,002 | ▼ 79.4% |
| Profit (loss) for the period before taxes9903 | -€11,849 | -€7,196 | -€8,602 | -€4,949 | €238,750 | -€57,801 | €169,871 | - |
| Transfer from deferred taxes780 | - | - | - | - | - | - | €3,628 | - |
| Transfer to deferred taxes680 | - | - | - | - | - | - | €41,508 | - |
| Income taxes67/77 | - | - | - | - | €11,310 | €1 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | -€11,849 | -€7,196 | -€8,602 | -€4,949 | €227,440 | -€57,802 | €131,991 | - |
| Transfer from tax-exempt reserves789 | - | - | - | - | - | - | €10,884 | - |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | - | €129,659 | - |
| Profit (loss) for the period to be appropriated9905 | -€11,849 | -€7,196 | -€8,602 | -€4,949 | €227,440 | -€57,802 | €13,215 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €385,709 | €357,640 | €328,354 | €300,506 | €228,185 | €359,656 | €326,405 | ▼ 9.2% |
| Fixed assets21/28 | €365,124 | €329,366 | €292,607 | €255,849 | €112,591 | €330,198 | €239,804 | ▼ 27.4% |
| Tangible fixed assets22/27 | €365,124 | €328,366 | €291,607 | €254,849 | €111,591 | €329,198 | €238,804 | ▼ 27.5% |
| Land and buildings22 | - | - | - | €254,849 | €111,591 | €329,198 | €238,804 | ▼ 27.5% |
| Financial fixed assets28 | - | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Current assets29/58 | €20,585 | €28,274 | €35,747 | €44,657 | €115,594 | €29,458 | €86,601 | ▲ 194% |
| Amounts receivable within one year40/41 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Trade receivables40 | - | - | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Cash at bank and in hand54/58 | €18,585 | €26,274 | €33,747 | €42,657 | €113,594 | €27,458 | €84,601 | ▲ 208% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €385,709 | €357,640 | €328,354 | €300,506 | €228,185 | €359,656 | €326,405 | ▼ 9.2% |
| Equity10/15 | -€169,422 | -€176,619 | -€185,220 | -€190,170 | €37,270 | -€20,532 | €111,459 | - |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | - | - | - | €6,200 | €6,200 | €6,200 | - | - |
| Issued capital100 | - | - | - | €18,550 | €18,550 | €18,550 | - | - |
| Uncalled capital101 | - | - | - | €12,350 | €12,350 | €12,350 | - | - |
| Reserves13 | - | - | - | - | €31,070 | €31,070 | €149,846 | ▲ 382% |
| Tax-exempt reserves132 | - | - | - | - | - | - | €118,775 | - |
| Distributable reserves133 | - | - | - | - | €31,070 | €31,070 | €31,070 | = |
| Profit (loss) carried forward14 | -€175,622 | -€182,819 | -€191,420 | -€196,370 | - | -€57,802 | -€44,587 | ▲ 22.9% |
| Provisions and deferred taxes16 | - | - | - | - | - | - | €37,880 | - |
| Deferred taxes168 | - | - | - | - | - | - | €37,880 | - |
| Amounts payable17/49 | €555,131 | €534,258 | €513,575 | €490,676 | €190,915 | €380,188 | €177,066 | ▼ 53.4% |
| Amounts payable after more than one year17 | €355,080 | €333,208 | €311,096 | €288,323 | - | €190,353 | €0 | ▼ 100% |
| Financial debts170/4 | - | - | - | €288,323 | - | €190,353 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €200,052 | €201,050 | €202,479 | €202,353 | €190,915 | €189,835 | €177,066 | ▼ 6.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €28,981 | €6,208 | €16,463 | €6,208 | ▼ 62.3% |
| Trade debts44 | - | - | €787 | - | €25 | €1 | €124 | ▲ 124× |
| Suppliers440/4 | - | - | - | - | €25 | €1 | €124 | ▲ 124× |
| Taxes, remuneration and social security45 | - | - | - | - | €11,310 | - | - | - |
| Taxes450/3 | - | - | - | - | €11,310 | - | - | - |
| Other amounts payable47/48 | - | - | - | €173,372 | €173,372 | €173,371 | €170,734 | ▼ 1.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€11,849 | -€7,196 | -€8,602 | -€4,949 | €227,440 | -€57,802 | €131,991 | - |
| + Depreciation and write-downs630 | €36,758 | €36,758 | €36,758 | €36,758 | €6,758 | €16,393 | €11,561 | ▼ 29.5% |
| Operating cash flow (approximation) | €24,909 | €29,562 | €28,157 | €31,809 | €234,198 | -€41,409 | €143,552 | - |
| Investment in fixed assets (approximation) | - | -€1,000 | €0 | €0 | €136,500 | -€234,000 | €78,832 | - |
| Change in cash | - | €7,689 | €7,473 | €8,910 | €70,937 | -€86,136 | €57,143 | - |
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, 34,693 companies had the same profile as DWS has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of DWS itself: 0.1% 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 34,693 companies, not a prediction for DWS. 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 11 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 06-05-2026 | 2026-00104125 | |
| 30-09-2024 | abbreviated format | 10-03-2025 | 2025-00045880 | |
| 30-09-2023 | abbreviated format | 23-02-2024 | 2024-00036103 | |
| 30-09-2022 | abbreviated format | 16-02-2023 | 2023-00030197 | |
| 30-09-2021 | abbreviated format | 24-02-2022 | 2022-06700103 | |
| 30-09-2020 | abbreviated format | 19-02-2021 | 2021-06200166 | |
| 30-09-2019 | abbreviated format | 17-02-2020 | 2020-05300543 | |
| 30-09-2018 | abbreviated format | 25-02-2019 | 2019-05800205 | |
| 30-09-2017 | abbreviated format | 20-02-2018 | 2018-05500370 | |
| 30-09-2016 | abbreviated format | 14-02-2017 | 2017-04500084 |