Equity
FIETSEN DEVOS has made a profit in every financial year since 2016.
FIETSEN DEVOS has made a profit in every financial year since 2016.
The 2023 accounts came latest: 68 days after the end of the period.
More equity than 95% of companies in retail trade. Sector median €40,976 · 22,967 companies.
The dashed line is the sector median: 0.4% across 3,697 companies (NACE 47, small).
About 9 in 1,000 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, small). It does better than 50% of them on solvency, 44% on liquidity, 39% on profitability and 55% 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 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% 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, 10,904 companies had the same profile as FIETSEN DEVOS has now. Each dot stands for 28 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of FIETSEN DEVOS itself is higher: 0.9% within 12 months. It rests on far more data about FIETSEN DEVOS than the profile alone.
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 10,904 companies, not a prediction for FIETSEN DEVOS. 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 ample, with a current ratio of 2.11 (2.46 in 2024), above the usual 1.5. Short-term debt is 26.5% and cash 0% of total assets. However, 69.6% of the assets are financed with debt and provisions.
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 7 accounts on average 23 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 | ||||
|---|---|---|---|---|
| FIETSEN DEVOS Waregem | €2.1m | €319,382 | 30.4% | - |
| Feys Middelkerke | €2.1m | €341,405 | 18.8% | 2.6 |
| BIKELIFE Beersel | €2.2m | €303,131 | 6.6% | 4 |
| VF BIKE Arlon | €2.0m | €309,875 | 17.8% | 3.1 |
| CONCEPT & CO Kortrijk | €1.7m | €347,905 | 46.2% | 1.4 |
| Fietsen Haverbeke Ingelmunster | €2.0m | €224,803 | 22.5% | 3 |
| Velektro Pelt | €2.1m | €395,124 | 9.6% | 4.9 |
These companies have the same main activity as FIETSEN DEVOS: retail sale of bicycles (NACE 47632). They are comparable in size and age: total assets between €1.7m and €2.2m, founded between 2015 and 2017.
FIETSEN DEVOS files the micro format. That format states no turnover. The gross margin rose from €55,480 in 2016 to €319,382 in 2025.
The balance sheet grew most from 2019 to 2021 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
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.
Turnover ≈ €1.3m. Estimated: probably between €720,000 and €1.9m.
Higher than 48% of 22,924 companies in 2025.
Higher than 65% of 22,052 companies in 2025.
Higher than 41% of 22,202 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
20/58 |
2.1m | 2.0m | 2.1m | 2.1m | 1.9m | 1.6m | 995,892 | 422,383 | 414,626 | 345,667 | |
21/28 |
935,805 | 973,674 | 994,457 | 1.0m | 1.0m | 1.0m | 520,438 | 66,098 | 71,493 | 78,053 | |
21 |
8,686 | 0 | 0 | 714 | 1,428 | 2,142 | 2,856 | - | - | - | |
22/27 |
926,994 | 973,549 | 994,332 | 1.0m | 1.0m | 1.0m | 517,457 | 65,973 | 71,368 | 78,053 | |
22 |
926,146 | 971,978 | 992,039 | 989,404 | 1.0m | 1.0m | 515,316 | 60,334 | - | - | |
23 |
96 | 546 | 996 | 19,749 | 2,720 | 1,368 | 730 | 1,199 | 949 | 1,275 | |
24 |
752 | 1,024 | 1,297 | - | 349 | 699 | 1,411 | 4,440 | 6,518 | 9,312 | |
26 |
- | - | - | - | - | - | - | - | 63,900 | 67,467 | |
28 |
125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | - | |
29/58 |
1.2m | 1.1m | 1.1m | 1.1m | 838,438 | 562,279 | 475,454 | 356,285 | 343,133 | 267,614 | |
3 |
1.2m | 1.1m | 1.1m | 1.1m | 832,702 | 539,528 | 380,623 | 323,625 | 323,359 | 252,128 | |
30/36 |
1.2m | 1.1m | 1.1m | 1.1m | 832,702 | 539,528 | 380,623 | 323,625 | 323,359 | 252,128 | |
40/41 |
24,063 | 0 | 24,938 | 3,402 | 5,736 | - | 51,333 | 13,726 | 5,770 | 7,444 | |
40 |
24,063 | 0 | 24,938 | 3,402 | 5,736 | - | 41,333 | 13,726 | 867 | 3,490 | |
41 |
0 | 0 | 0 | - | - | - | 10,000 | - | 4,904 | 3,953 | |
54/58 |
0 | 0 | 0 | 28,263 | - | 22,751 | 43,498 | 18,934 | 13,799 | 7,148 | |
490/1 |
- | - | 3,645 | - | - | - | - | - | 205 | 894 | |
| Balance sheet: equity and liabilities | |||||||||||
10/49 |
2.1m | 2.0m | 2.1m | 2.1m | 1.9m | 1.6m | 995,892 | 422,383 | 414,626 | 345,667 | |
10/15 |
646,090 | 615,915 | 615,692 | 538,998 | 396,017 | 214,184 | 144,929 | 95,473 | 61,887 | 25,731 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 6,200 | 6,200 | 6,200 | 6,200 | |
13 |
87,769 | 87,769 | 87,769 | 49,487 | 49,487 | 49,487 | 49,487 | 49,487 | 49,487 | 13,331 | |
130/1 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | |
132 |
38,282 | 38,282 | - | - | - | - | - | - | - | - | |
133 |
49,487 | 49,487 | 87,769 | 47,627 | 47,627 | 47,627 | 47,627 | 47,627 | 47,627 | 11,471 | |
14 |
539,722 | 509,546 | 509,323 | 470,912 | 334,130 | 152,297 | 83,042 | 33,586 | - | - | |
16 |
- | - | - | - | - | - | - | 10,785 | 10,785 | 13,663 | |
160/5 |
- | - | - | - | - | - | - | 10,785 | 10,785 | 13,663 | |
160 |
- | - | - | - | - | - | - | - | 10,785 | 13,663 | |
161 |
- | - | - | - | - | - | - | 10,785 | - | - | |
17/49 |
1.5m | 1.4m | 1.5m | 1.6m | 1.5m | 1.4m | 850,963 | 316,125 | 341,954 | 306,273 | |
17 |
915,663 | 993,947 | 1.1m | 1.1m | 1.1m | 1.0m | 464,192 | 727 | 727 | 11,556 | |
170/4 |
915,663 | 993,947 | 1.1m | 1.1m | 1.1m | 1.0m | 464,192 | 727 | 727 | 11,556 | |
42/48 |
563,098 | 434,997 | 415,641 | 501,201 | 383,785 | 319,730 | 383,425 | 312,065 | 341,227 | 294,717 | |
42 |
93,284 | 88,736 | 86,244 | 58,625 | 56,959 | 38,497 | 9,838 | - | 10,829 | 15,043 | |
43 |
197,501 | - | 147,251 | 235,800 | 122,288 | 30,000 | 30,000 | 20,000 | 15,000 | 30,000 | |
430/8 |
197,501 | - | 147,251 | 235,800 | 122,288 | 30,000 | 30,000 | 20,000 | 15,000 | 30,000 | |
44 |
200,890 | 82,747 | 113,500 | 131,111 | 139,425 | 107,398 | 102,127 | 50,401 | 81,435 | 59,598 | |
440/4 |
200,890 | 82,747 | 113,500 | 131,111 | 139,425 | 107,398 | 102,127 | 50,401 | 81,435 | 59,598 | |
46 |
- | 10,643 | - | - | - | - | - | - | - | - | |
45 |
57,026 | 43,246 | 50,633 | 54,164 | 43,612 | 114,530 | 18,303 | 241,664 | 19,556 | 7,175 | |
450/3 |
32,365 | 19,277 | 33,995 | 47,546 | 28,863 | 105,822 | 16,832 | 18,507 | 19,556 | 7,175 | |
454/9 |
24,661 | 23,969 | 16,638 | 6,618 | 14,749 | 8,708 | 1,471 | 223,157 | - | - | |
47/48 |
14,396 | 209,626 | 18,014 | 21,501 | 21,501 | 29,305 | 223,157 | - | 214,406 | 182,900 | |
492/3 |
47 | 47 | - | - | - | - | 3,346 | 3,333 | - | - | |
| Income statement | |||||||||||
76A |
12,231 | - | - | - | - | - | - | - | - | - | |
9900 |
319,382 | 190,552 | 233,256 | 343,143 | 336,921 | 169,408 | 70,118 | 56,568 | 74,876 | 55,480 | |
62 |
91,061 | 88,633 | 62,582 | 53,675 | 66,390 | 44,189 | 2,419 | - | - | - | |
630 |
51,643 | 46,909 | 60,091 | 76,811 | 67,283 | 44,135 | 22,196 | 8,187 | 8,277 | 11,299 | |
631/4 |
34,342 | - | - | 14,451 | - | - | - | - | - | - | |
635/8 |
- | - | - | - | - | - | -10,784 | - | -2,878 | 1,413 | |
640/8 |
51,732 | 211 | 1,222 | 1,026 | 247 | 109 | 1,943 | 1,570 | 1,763 | 2,645 | |
9901 |
90,604 | 54,799 | 109,362 | 197,181 | 203,002 | 80,975 | 54,344 | 46,811 | 67,714 | 40,122 | |
75/76B |
1,940 | 2,025 | 941 | 6,053 | - | 4,896 | 5,600 | 11 | 1,990 | 3,736 | |
75 |
1,940 | 2,025 | 941 | 6,053 | - | 4,896 | 5,600 | 11 | 1,990 | 3,736 | |
65/66B |
31,699 | 36,636 | 34,415 | 26,453 | 20,141 | 16,859 | 10,033 | 3,236 | 3,667 | 12,852 | |
65 |
31,699 | 36,636 | 34,415 | 26,453 | 20,141 | 16,859 | 10,033 | 3,236 | 3,667 | 12,852 | |
9903 |
60,845 | 20,188 | 75,888 | 176,781 | 182,861 | 69,012 | 49,911 | 43,586 | 66,037 | 31,006 | |
67/77 |
30,669 | 19,965 | 37,476 | 40,000 | 1,028 | -243 | 455 | 10,000 | 14,881 | 4,675 | |
9904 |
30,176 | 223 | 38,412 | 136,781 | 181,834 | 69,255 | 49,456 | 33,586 | 51,156 | 26,331 | |
9905 |
30,176 | 223 | 38,412 | 136,781 | 181,834 | 69,255 | 49,456 | 33,586 | 51,156 | 26,331 | |
| Appropriation of the result | |||||||||||
9906 |
539,722 | 509,546 | 509,323 | 470,912 | 334,130 | 152,297 | 83,042 | 33,586 | 51,156 | 26,331 | |
14P |
509,546 | 509,323 | 470,912 | 334,130 | 152,297 | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | 36,156 | 13,331 | |
6920 |
- | - | - | - | - | - | - | - | - | 1,860 | |
6921 |
- | - | - | - | - | - | - | - | 36,156 | 11,471 | |
694/7 |
- | - | - | - | - | - | - | - | 15,000 | 13,000 | |
695 |
- | - | - | - | - | - | - | - | 15,000 | 13,000 | |
| Social balance sheet | |||||||||||
9087 |
1.9 | 1.9 | 1.2 | 1.4 | 1.9 | 1.4 | - | - | - | - | |
Hours worked1013 |
3,357 | 3,333 | 2,134 | 2,156 | 3,065 | 2,270 | 104 | - | - | - | |
| Document | |||||||||||
The notes to these accounts have 14 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 30-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-07-2026 | 2026-00354424 | |
| 31-12-2024 | abbreviated format | 21-08-2025 | 2025-00400486 | |
| 31-12-2023 | abbreviated format | 07-10-2024 | 2024-00496453 | |
| 31-12-2022 | abbreviated format | 25-08-2023 | 2023-00351604 | |
| 31-12-2021 | micro format | 24-08-2022 | 2022-20309296 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-62400301 | |
| 31-12-2019 | micro format | 23-07-2020 | 2020-34000147 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-61300105 | |
| 31-12-2017 | micro format | 29-06-2018 | 2018-26100190 | |
| 31-12-2016 | abbreviated format | 05-07-2017 | 2017-27700238 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 142,247 | 101,708 | 169,452 | 273,991 | 270,285 | 125,110 | 76,540 | 54,998 | 75,991 | 51,421 | ||
| 81,818 | 47,131 | 98,502 | 213,592 | 249,116 | 113,390 | 71,652 | 41,773 | 59,433 | 37,630 | ||
| 13,774 | 26,126 | 10,829 | 54,061 | 86,123 | 537,598 | 476,537 | 2,792 | 1,717 | 89,352 | ||
| 0 | 0 | -28,263 | - | - | -20,747 | 24,564 | 5,135 | 6,650 | - | ||
| 625,996 | 636,236 | 703,918 | 581,381 | 454,653 | 242,549 | 92,029 | 44,220 | 1,906 | -27,103 | ||
| 30.4% | 30.1% | 29.1% | 25.8% | 21.2% | 13.6% | 14.6% | 22.6% | 14.9% | 7.4% | ||
| 2.11 | 2.46 | 2.69 | 2.16 | 2.18 | 1.76 | 1.24 | 1.14 | 1.01 | 0.91 | ||
| 0.04 | 0.00 | 0.07 | 0.06 | 0.01 | 0.07 | 0.25 | 0.10 | 0.06 | 0.05 | ||
| 2.29 | 2.32 | 2.43 | 2.88 | 3.72 | 6.36 | 5.87 | 3.31 | 5.53 | 11.90 | ||
| 4.7% | 0.0% | 6.2% | 25.4% | 45.9% | 32.3% | 34.1% | 35.2% | 82.7% | 102.3% | ||
| 1.4% | 0.0% | 1.8% | 6.5% | 9.7% | 4.4% | 5.0% | 8.0% | 12.3% | 7.6% | ||
| 4.49 | 2.78 | 4.92 | 10.36 | 13.42 | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 2 | 2 | 2 | 2 | 2 |
| full-time | 1 | 1 | 1 | 1 | 1 |
| part-time | 1 | 1 | 1 | 1 | 1 |
| in full-time equivalents | 1.9 | 1.9 | 1.8 | 1.3 | 1.8 |
| 1.9 | 1.9 | 1.2 | 1.4 | 1.9 | |
| On a permanent contract | 2 | 2 | 2 | 1 | 2 |
| Joined | - | - | 1 | 11 | 4 |
| Left | - | - | 1 | 13 | 4 |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,934 | €26,126 | €10,829 | €54,061 | €86,123 |
| Intangible fixed assets | €9,840 | - | - | - | - |
| €51,643 | €46,909 | €60,091 | €76,811 | €67,283 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 65% higher than in 2024. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total falls from 69.9% to 69.6%. Equity and debt are higher.
FIETSEN DEVOS has no parent and no holdings in its annual accounts. Tony Devos is the only director. FIETSEN DEVOS shares no director with another company.
| vzw Cyclingteam Fietsen Devos
registered office since 05-03-2012 |
founded in 2012 0846.511.179 |
| Walgraeve, Annelies (sole trader)
establishment since 01-10-2009 |
founded in 2009 0818.751.462 |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Posterijstraat 11 registered office 8793 Waregem | 11-12-2015 | 2.248.911.247 |
| 06-06-2019 | Granted | Nieuwbouw van bijgebouwen en niet overdekte lage constructie; Slopen van niet vrijstaande gebouwen of constructies; Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden submitted 18-03-2019 · project 2019034924 | Waregem |
Source: Omgevingsloket Vlaanderen.
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 34035A0164/00K007 | 1,161 m² | 1 · 426 m² | 10.4 m · 2 |
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