Glaswerken Devos
ActiveSummary
Glaswerken Devos has been active since 2019 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €711 and a net result of €10,423. Equity fluctuates too strongly from year to year to read a trend from it. Its solvency ranks better than 8% of 9,883 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 1.5% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 04-12-2019 Normal situation
- Activity
- Specialised construction activities NACE 43343and 7 others
- Establishment unit
- 2.296.481.235 8700 Tielt, since 04-12-2019
- Financial year end
- 30 September
- Peppol
- Reachable since 24-11-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.5%
- Gross margin
- €42,894
- ▲ 11.9%
- Turnover
- ≈ €200,000
- estimated
- Profit
- €10,423
- Equity
- €711
- Total assets
- €221,825
- ▼ 6.2%
Score breakdownraises riskSector: Specialised construction activities (NACE 43)Founded in 2019Equity €711 (0.3% of total assets)lowers riskSize: total assets €221,825Show the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
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 43, micro). It does better than 8% of them on solvency, 26% on liquidity, 48% on profitability and 92% on growth.
The bankruptcy probability was computed on 01-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 6 accounts on average 9 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 30-04-2026 PDF all 6 filings
2021 to 2025, 5 financial years 2020 to 2025, 6 financial years
The operating result for 2025 is over 3.3 times that of 2024 and the highest since 2021. It is a recovery after the fall in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Securities and guarantees
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | - | - | - | €140,166 |
| Mortgage mandates | - | - | - | €231,000 |
| Carrying value of the mortgaged assets | - | - | - | €197,222 |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €456 | €7,401 | €608 | - |
| Depreciation and write-downs of the year | €27,790 | €28,034 | €28,642 | €18,895 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Comparable companies
These companies have the same main activity as Glaswerken Devos: specialised construction activities (NACE 43343). They are comparable in size and age: total assets between €111,000 and €207,000, founded between 2019 and 2022.
| Company | Founded | Total assets | Equity | Gross margin | Net result | Financial year |
|---|---|---|---|---|---|---|
| Glaswerken Devos Wingene | 2019 | €221,825 | €711 | €42,894 | €10,423 | 2025 |
| GLASSWORK@HOME Haaltert | 2019 | €186,317 | €71,041 | €32,493 | €8,947 | 2025 |
| CoPa4Life Hamont-Achel | 2021 | €207,437 | €65,497 | €51,800 | €18,193 | 2025 |
| AYNOBA Veurne | 2022 | €151,702 | €88,003 | €69,941 | €41,704 | 2025 |
| VENTAMAX Pelt | 2021 | €117,990 | €46,592 | €38,212 | -€15,286 | 2025 |
| LUDO VITRES Huy | 2019 | €125,636 | €92,506 | €65,417 | €19,446 | 2025 |
| Jimmy Châssis Brussel | 2021 | €110,532 | €83,185 | €31,673 | €14,417 | 2025 |
They were chosen from the 280 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 1,251 companies had the same profile as Glaswerken Devos has now. Two years later, 2.6% had gone bankrupt and 94.4% were still going.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit under 5% of the balance sheet
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Glaswerken Devos itself: 1.5% within 12 months.
Test of the method
The method was tested on the 497,445 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 1,251 companies, not a prediction for Glaswerken 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.
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23,147 | €25,647 | €27,790 | €28,034 | €28,642 | €18,895 | ▼ 34.0% |
| Other operating charges640/8 | - | - | €1,211 | €1,706 | €2,821 | €1,331 | ▼ 52.8% |
| Non-recurring operating charges66A | - | - | - | - | €48 | - | - |
| Gross operating margin9900 | €6,683 | €39,478 | €27,543 | €45,805 | €38,327 | €42,894 | ▲ 11.9% |
| Operating profit (loss)9901 | -€17,645 | €12,685 | -€1,458 | €16,065 | €6,815 | €22,668 | ▲ 233% |
| Financial income75/76B | - | - | €423 | €186 | €8 | €392 | ▲ 50× |
| Recurring financial income75 | €0 | €334 | €423 | €186 | €8 | €392 | ▲ 50× |
| Financial charges65/66B | - | - | €6,387 | €6,039 | €4,735 | €6,646 | ▲ 40.4% |
| Recurring financial charges65 | €2,621 | €5,322 | €6,387 | €6,039 | €4,735 | €6,646 | ▲ 40.4% |
| Profit (loss) for the period before taxes9903 | -€20,267 | €7,697 | -€7,421 | €10,212 | €2,088 | €16,414 | ▲ 686% |
| Income taxes67/77 | - | €98 | €394 | €3,061 | €3,467 | €5,991 | ▲ 72.8% |
| Profit (loss) for the period9904 | -€20,267 | €7,599 | -€7,815 | €7,150 | -€1,379 | €10,423 | - |
| Profit (loss) for the period to be appropriated9905 | -€20,267 | €7,599 | -€7,815 | €7,150 | -€1,379 | €10,423 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €315,084 | €326,446 | €299,291 | €264,718 | €236,590 | €221,825 | ▼ 6.2% |
| Fixed assets21/28 | €291,220 | €295,639 | €268,305 | €247,671 | €219,385 | €200,490 | ▼ 8.6% |
| Tangible fixed assets22/27 | €291,220 | €295,387 | €268,053 | €247,419 | €219,385 | €200,490 | ▼ 8.6% |
| Land and buildings22 | - | - | €239,047 | €227,175 | €212,199 | €197,222 | ▼ 7.1% |
| Plant, machinery and equipment23 | - | - | €8,613 | €7,963 | €3,047 | €2,073 | ▼ 32.0% |
| Furniture and vehicles24 | - | - | €20,392 | €12,281 | €4,139 | €1,194 | ▼ 71.1% |
| Financial fixed assets28 | - | €252 | €252 | €252 | €0 | - | - |
| Current assets29/58 | €23,865 | €30,807 | €30,986 | €17,047 | €17,205 | €21,335 | ▲ 24.0% |
| Stocks and contracts in progress3 | €2,000 | €998 | €2,704 | €0 | - | - | - |
| Stocks30/36 | - | - | €1,021 | €0 | - | - | - |
| Contracts in progress37 | - | - | €1,683 | €0 | - | - | - |
| Amounts receivable within one year40/41 | €10,024 | €23,852 | €22,089 | €12,399 | €17,120 | €17,776 | ▲ 3.8% |
| Trade receivables40 | - | - | €21,130 | €9,343 | €14,413 | €11,961 | ▼ 17.0% |
| Other amounts receivable41 | - | - | €959 | €3,055 | €2,707 | €5,815 | ▲ 115% |
| Cash at bank and in hand54/58 | - | €2,958 | €5,344 | €4,649 | €85 | €2,905 | ▲ 34× |
| Deferred charges and accrued income490/1 | - | - | €849 | €0 | - | €654 | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €315,084 | €326,446 | €299,291 | €264,718 | €236,590 | €221,825 | ▼ 6.2% |
| Equity10/15 | -€15,267 | -€7,668 | -€15,483 | -€8,333 | -€9,712 | €711 | - |
| Contributions10/11 | - | - | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | -€20,267 | -€12,668 | -€20,483 | -€13,333 | -€14,712 | -€4,289 | ▲ 70.8% |
| Amounts payable17/49 | €330,351 | €334,114 | €314,774 | €273,051 | €246,302 | €221,114 | ▼ 10.2% |
| Amounts payable after more than one year17 | €214,384 | €195,490 | €187,151 | €163,975 | €144,583 | €147,966 | ▲ 2.3% |
| Financial debts170/4 | - | - | €187,151 | €163,975 | €144,583 | €147,966 | ▲ 2.3% |
| Amounts payable within one year42/48 | €115,967 | €138,625 | €127,622 | €109,076 | €101,718 | €73,148 | ▼ 28.1% |
| Current portion of amounts payable after more than one year42 | - | - | €22,755 | €23,176 | €19,392 | €15,504 | ▼ 20.1% |
| Financial debts43 | - | - | €14,052 | €19,634 | €19,708 | €19,845 | ▲ 0.7% |
| Credit institutions430/8 | - | - | €14,052 | €19,634 | €19,708 | €19,845 | ▲ 0.7% |
| Trade debts44 | €37,846 | €27,291 | €41,809 | €28,134 | €27,831 | €26,819 | ▼ 3.6% |
| Suppliers440/4 | - | - | €41,809 | €28,134 | €27,831 | €26,819 | ▼ 3.6% |
| Taxes, remuneration and social security45 | - | - | €1,618 | €9,168 | €4,571 | €7,083 | ▲ 55.0% |
| Taxes450/3 | - | - | €1,618 | €4,523 | €4,571 | €7,083 | ▲ 55.0% |
| Remuneration and social security454/9 | - | - | - | €4,645 | €0 | - | - |
| Other amounts payable47/48 | - | - | €47,388 | €28,964 | €30,218 | €3,897 | ▼ 87.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€20,267 | €7,599 | -€7,815 | €7,150 | -€1,379 | €10,423 | - |
| + Depreciation and write-downs630 | €23,147 | €25,647 | €27,790 | €28,034 | €28,642 | €18,895 | ▼ 34.0% |
| Operating cash flow (approximation) | €2,880 | €33,246 | €19,975 | €35,184 | €27,263 | €29,318 | ▲ 7.5% |
| Investment in fixed assets (approximation) | - | -€30,067 | -€456 | -€7,401 | -€356 | €0 | - |
| Change in cash | - | - | €2,386 | -€695 | -€4,564 | €2,820 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 30-04-2026 | 2026-00097633 | |
| 30-09-2024 | micro format | 29-04-2025 | 2025-00091929 | |
| 30-09-2023 | micro format | 22-04-2024 | 2024-00067960 | |
| 30-09-2022 | micro format | 25-04-2023 | 2023-00072139 | |
| 30-09-2021 | micro format | 24-03-2022 | 2022-08500548 | |
| 30-09-2020 | micro format | 26-04-2021 | 2021-11500254 |
Board & ownership
Directors
Owners and capital
Owners
Network & group
Glaswerken Devos shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of Glaswerken Devos. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0738.720.128
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 37012F0117/00E000 | Flanders | 2,336 m² | 1 · 140 m² | 7.0 m · 2 |
| 37303G0271/00M000 | Flanders | 626 m² | 1 · 102 m² | 7.8 m · 2 |