INTERDEKO
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 12-06-2026 PDF all 49 filings
Turnover
€324,795▲ 7.6%
2024 · €301,981
EBIT margin
80.4%▲ 9.2pp
2024 · 71.2%
Net result
€196,781▲ 17.8%
2024 · €167,011
Working capital
€34,936▼ 67.7%
2024 · €108,155
In the rankings
#7 oldest company in Waregem, Real estate sector
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€324,795
▲ 7.6%
2025
20182025
Operating result
€261,210
▲ 21.5%
2025
20182025
Net result
€196,781
▲ 17.8%
2025
highest quarter of the sector
20182025
EBIT margin
80.4%
▲ 9.2pp
2025
20182025
Equity
€164,153
▼ 62.3%
2025
middle half of the sector
20182025
Total assets
€545,156
▼ 24.7%
2025
lowest quarter of the sector
20182025
Debt
€381,003
▲ 32.2%
2025
20182025
Working capital
€34,936
▼ 67.7%
2025
middle half of the sector
20182025
Solvency
30.1%
▼ 30.1pp
2025
middle half of the sector
20182025
Current ratio
1.09
▼ 0.28
2025
middle half of the sector
20182025
Return on assets (ROA)
36.1%
▲ 13.0pp
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0.3m-€0.3m▲ 1.3%€0.3m▲ 0.5%€0.3m▲ 1.2%€0.3m▲ 5.6%€0.4m▲ 9.4%€0.3m▼ 14.6%€0.3m▲ 7.6%
Operating result€0.2m-€0.2m▲ 33.1%€0.2m▼ 10.4%€0.2m▲ 5.0%€0.3m▲ 25.2%€0.3m▲ 5.1%€0.2m▼ 29.4%€0.3m▲ 21.5%
Net result€0.2m-€0.2m▲ 11.8%€0.2mabove the sector's middle half▼ 13.0%€0.2mabove the sector's middle half▲ 10.3%€0.2mabove the sector's middle half▲ 24.1%€0.2mabove the sector's middle half▲ 8.6%€0.2mabove the sector's middle half▼ 27.6%€0.2mabove the sector's middle half▲ 17.8%
EBIT margin62.2%-81.7%▲ 19.6pp72.8%▼ 8.9pp75.6%▲ 2.8pp89.6%▲ 14.1pp86.1%▼ 3.5pp71.2%▼ 14.9pp80.4%▲ 9.2pp
Equity€1.1m-€0.3m▼ 67.4%€0.5mwithin the sector's middle half▲ 44.5%€0.7mwithin the sector's middle half▲ 34.0%€0.9mwithin the sector's middle half▲ 31.5%€0.9mwithin the sector's middle half▲ 0.1%€0.4mwithin the sector's middle half▼ 50.9%€0.2mwithin the sector's middle half▼ 62.3%
Total assets€1.4m-€1.3m▼ 3.9%€0.8mwithin the sector's middle half▼ 40.3%€0.8mwithin the sector's middle half▲ 0.1%€1.0mwithin the sector's middle half▲ 23.2%€1.2mwithin the sector's middle half▲ 23.2%€0.7mbelow the sector's middle half▼ 40.3%€0.5mbelow the sector's middle half▼ 24.7%
Debt€0.3m-€1.0m▲ 209%€0.3m▼ 70.2%€0.1m▼ 57.8%€0.1m▼ 21.9%€0.3m▲ 235%€0.3m▼ 11.4%€0.4m▲ 32.2%
Working capital€0.3m--€0.4m-€0.2mbelow the sector's middle half▲ 40.3%-€0.07mwithin the sector's middle half▲ 70.4%€0.1mwithin the sector's middle half€0.1mwithin the sector's middle half▲ 0.5%€0.1mwithin the sector's middle half▼ 23.4%€0.03mwithin the sector's middle half▼ 67.7%
Solvency77.0%-26.1%▼ 50.9pp63.1%above the sector's middle half▲ 37.0pp84.5%above the sector's middle half▲ 21.4pp90.1%above the sector's middle half▲ 5.7pp73.2%above the sector's middle half▼ 16.9pp60.2%within the sector's middle half▼ 13.0pp30.1%within the sector's middle half▼ 30.1pp
Current ratio2.00-0.59▼ 1.420.17below the sector's middle half▼ 0.410.42below the sector's middle half▲ 0.252.45within the sector's middle half▲ 2.031.43within the sector's middle half▼ 1.011.38within the sector's middle half▼ 0.061.09within the sector's middle half▼ 0.28
Return on assets (ROA)11.5%-13.3%▲ 1.9pp19.4%above the sector's middle half▲ 6.1pp21.4%above the sector's middle half▲ 2.0pp21.6%above the sector's middle half▲ 0.2pp19.0%above the sector's middle half▼ 2.6pp23.1%above the sector's middle half▲ 4.1pp36.1%above the sector's middle half▲ 13.0pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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 22% higher than in 2024. It is a recovery after the fall in 2024.
Large changes and their cause
- 2025 Equity -62% on 2024. Partial demerger to Beaulieu Real Estate, effective 06-11-2025.
- 2024 Equity -51% on 2023. Demerger with IDEAL Floorcoverings Wielsbeke, proposed with effect from 16-05-2024. Capital reduction of €118,029 (Official Gazette 06-08-2024).
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €545,156
Fixed assets
€129,217 ▼ 60.5%
Current assets
€415,939 ▲ 5.0%
Equity and liabilities €545,156
Equity
€164,153 ▼ 62.3%
Debt
€381,003 ▲ 32.2%
Debt's share of the balance-sheet total rises from 39.8% to 69.9%. Equity is lower and debt is higher.
Key figures and ratios
Debt to equity
2.32▲
2024 · 0.66
ROE
119.9%▲
2024 · 38.3%
Debt ≤ 1 year
€381,003▲
2024 · €288,107
Income taxes
€71,629▲
2024 · €62,561
Customer credit
57 days▼
2024 · 172 days
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Auditor
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | €2,475 | €2,867 | €2,903 | €3,138 | €4,052 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €361,948 | €380,277 | €419,605 | €363,348 | €386,516 | ▲ 6.4% |
| Turnover70 | €297,460 | €301,179 | €302,713 | €306,245 | €323,259 | €353,537 | €301,981 | €324,795 | ▲ 7.6% |
| Other operating income74 | - | - | - | €55,703 | €57,017 | €66,068 | €61,367 | €61,721 | ▲ 0.6% |
| Operating charges60/66A | - | - | - | €130,485 | €90,517 | €115,087 | €148,368 | €125,305 | ▼ 15.5% |
| Services and other goods61 | - | - | - | €76,805 | €30,867 | €48,021 | €78,068 | €60,663 | ▼ 22.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,056 | €2,056 | €1,882 | - | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €53,680 | €59,649 | €67,066 | €70,299 | €64,642 | ▼ 8.0% |
| Operating profit (loss)9901 | €184,876 | €246,111 | €220,428 | €231,463 | €289,760 | €304,518 | €214,980 | €261,210 | ▲ 21.5% |
| Financial income75/76B | - | - | - | - | €208 | €10,424 | €14,592 | €7,251 | ▼ 50.3% |
| Recurring financial income75 | €3,665 | €4,776 | - | - | €208 | €10,424 | €14,592 | €7,251 | ▼ 50.3% |
| Income from current assets751 | - | - | - | - | €208 | €10,424 | €14,592 | €7,251 | ▼ 50.3% |
| Financial charges65/66B | - | - | - | €709 | €222 | €270 | €0 | €51 | ▲ 125× |
| Recurring financial charges65 | €113 | €116 | €652 | €709 | €222 | €270 | €0 | €51 | ▲ 125× |
| Debt charges650 | - | - | €499 | €661 | €126 | - | €0 | - | - |
| Other financial charges652/9 | - | - | - | €48 | €96 | €270 | - | €51 | - |
| Profit (loss) for the period before taxes9903 | €188,428 | €250,772 | €219,776 | €230,755 | €289,747 | €314,672 | €229,572 | €268,410 | ▲ 16.9% |
| Income taxes67/77 | €28,954 | €72,448 | €64,647 | €59,570 | €77,326 | €83,978 | €62,561 | €71,629 | ▲ 14.5% |
| Taxes670/3 | - | - | - | €59,570 | €77,326 | €83,978 | €62,561 | €71,629 | ▲ 14.5% |
| Profit (loss) for the period9904 | €159,475 | €178,324 | €155,129 | €171,185 | €212,421 | €230,694 | €167,011 | €196,781 | ▲ 17.8% |
| Profit (loss) for the period to be appropriated9905 | €159,475 | €178,324 | €155,129 | €171,185 | €212,421 | €230,694 | €167,011 | €196,781 | ▲ 17.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.4m | €1.3m | €0.8m | €0.8m | €1.0m | €1.2m | €0.7m | €0.5m | ▼ 24.7% |
| Fixed assets21/28 | €0.8m | €0.8m | €0.7m | €0.7m | €0.7m | €0.7m | €0.3m | €0.1m | ▼ 60.5% |
| Intangible fixed assets21 | - | - | - | - | - | €0 | - | - | - |
| Tangible fixed assets22/27 | €0.8m | €0.8m | €0.7m | €0.7m | €0.7m | €0.7m | €0.3m | €0.1m | ▼ 60.5% |
| Land and buildings22 | - | - | - | €0.7m | €0.7m | €0.7m | €0.3m | €0.1m | ▼ 60.5% |
| Financial fixed assets28 | - | - | €248 | - | - | - | - | - | - |
| Current assets29/58 | €0.6m | €0.6m | €0.05m | €0.05m | €0.2m | €0.5m | €0.4m | €0.4m | ▲ 5.0% |
| Amounts receivable within one year40/41 | €0.05m | €0.05m | €0.05m | €0.05m | €0.1m | €0.06m | €0.1m | €0.05m | ▼ 64.6% |
| Trade receivables40 | - | - | - | €0.05m | €0.06m | €0.06m | €0.1m | €0.05m | ▼ 64.5% |
| Other amounts receivable41 | - | - | - | €260 | €0.05m | €374 | €444 | - | - |
| Cash at bank and in hand54/58 | €0.6m | €0.5m | - | - | €0.1m | €0.4m | €0.3m | €0.4m | ▲ 44.3% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €0 | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.4m | €1.3m | €0.8m | €0.8m | €1.0m | €1.2m | €0.7m | €0.5m | ▼ 24.7% |
| Equity10/15 | €1.1m | €0.3m | €0.5m | €0.7m | €0.9m | €0.9m | €0.4m | €0.2m | ▼ 62.3% |
| Contributions10/11 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.1m | €0.09m | ▼ 33.6% |
| Capital10 | - | - | - | €0.3m | €0.3m | €0.3m | €0.1m | €0.09m | ▼ 33.6% |
| Issued capital100 | - | - | - | €0.3m | €0.3m | €0.3m | €0.1m | €0.09m | ▼ 33.6% |
| Reserves13 | €0.8m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.05m | €0.03m | ▼ 33.6% |
| Non-distributable reserves130/1 | - | - | - | €0.03m | €0.03m | €0.03m | €0.01m | €0.009m | ▼ 33.6% |
| Legal reserve130 | - | - | - | €0.03m | €0.03m | €0.03m | €0.01m | €0.009m | ▼ 33.6% |
| Tax-exempt reserves132 | - | - | - | €0.04m | €0.04m | €0.04m | €0.02m | €0.01m | ▼ 33.6% |
| Distributable reserves133 | - | - | - | €0.04m | €0.04m | €0.04m | €0.02m | €0.01m | ▼ 33.6% |
| Profit (loss) carried forward14 | €0.02m | - | €0.2m | €0.3m | €0.5m | €0.5m | €0.3m | €0.04m | ▼ 83.3% |
| Amounts payable17/49 | €0.3m | €1.0m | €0.3m | €0.1m | €0.1m | €0.3m | €0.3m | €0.4m | ▲ 32.2% |
| Amounts payable within one year42/48 | €0.3m | €1.0m | €0.3m | €0.1m | €0.1m | €0.3m | €0.3m | €0.4m | ▲ 32.2% |
| Financial debts43 | - | - | - | €0.09m | - | - | - | - | - |
| Credit institutions430/8 | - | - | - | €0.09m | - | - | - | - | - |
| Trade debts44 | €0.003m | €0.01m | €0.02m | €0.03m | €0.01m | €0.01m | €0.03m | €0.01m | ▼ 47.0% |
| Suppliers440/4 | - | - | - | €0.03m | €0.01m | €0.01m | €0.03m | €0.01m | ▼ 47.0% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.01m | - | - | €0.001m | - |
| Taxes450/3 | - | - | - | €0.01m | €0.01m | - | - | €0.001m | - |
| Other amounts payable47/48 | - | - | - | - | €0.08m | €0.3m | €0.3m | €0.4m | ▲ 39.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €159,475 | €178,324 | €155,129 | €171,185 | €212,421 | €230,694 | €167,011 | €196,781 | ▲ 17.8% |
| + Depreciation and write-downs630 | €2,056 | €2,056 | €1,882 | - | - | - | - | - | - |
| Operating cash flow (approximation) | €161,530 | €180,380 | €157,011 | €171,185 | €212,421 | €230,694 | €167,011 | €196,781 | ▲ 17.8% |
| Investment in fixed assets (approximation) | - | €0 | €7,293 | €248 | €0 | €0 | €419,166 | €198,315 | ▼ 52.7% |
| Change in cash | - | -€52,734 | - | - | - | €275,180 | -€153,097 | €112,171 | - |
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, 20,136 companies had the same profile as INTERDEKO has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
That fits the bankruptcy probability of INTERDEKO 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 20,136 companies, not a prediction for INTERDEKO. 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 49 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 12-06-2026 | 2026-00170227 | |
| 31-12-2024 | full format | 30-05-2025 | 2025-00118355 | |
| 31-12-2023 | full format | 06-06-2024 | 2024-00125066 | |
| 31-12-2022 | full format | 08-06-2023 | 2023-00126825 | |
| 31-12-2021 | full format | 02-06-2022 | 2022-20051765 | |
| 31-12-2020 | full format | 08-06-2021 | 2021-18600128 | |
| 31-12-2019 | full format | 05-06-2020 | 2020-15300429 | |
| 31-12-2018 | full format | 07-06-2019 | 2019-17300509 | |
| 31-12-2017 | full format | 06-06-2018 | 2018-17000091 | |
| 31-12-2016 | full format | 13-06-2017 | 2017-17600462 |