DHCare Belgium
ActiveSummary
DHCare Belgium has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.34M and a net result of €225k. Equity is shrinking by ~6.2% per year across the filed fiscal years. Its solvency ranks better than 54% of 8048 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability79=
Solvency73▲+1
Growth46▲+17
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €95k at 30 days acceptable
Liquidity ample (current ratio 2.05 against 2.03 in 2024; short-term debt: 48.5% and cash: 8.5% of total assets), but 52.3% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
47.7%
Return on assets
8%
Age of the figures
10 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €1.34M
neutral · Latest accounts filed on time
The financial year that closed on 30-11-2025 was due by 30-06-2026 and was filed on 26-05-2026, 35 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
35 d early
2024
7 d early
2023
17 d early
2022
3 d early
2021
1 d early
2020
12 d early
2019
12 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-11-2026 and is due by 30-06-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-11-2026 close30-06-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€1.89M▼ 7.3%
2019 · €2.04M
EBIT margin
13.2%▼ 4.1pp
2019 · 17.3%
Net result
€225k▲ 11.0%
2024 · €202k
Working capital
€1.43M▲ 18.6%
2024 · €1.20M
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover
Operating result€349k▲ 39.5%€247k▼ 29.3%€282k▲ 14.3%€259k▼ 8.1%€287k▲ 10.8%
Net result€244k▲ 45.5%€195k▼ 20.1%€242k▲ 24.0%€202k▼ 16.5%€225k▲ 11.0%
EBIT margin
Equity€1.47M▼ 25.5%€1.67M▲ 13.3%€911k▼ 45.4%€1.11M▲ 22.2%€1.34M▲ 20.2%
Total assets€2.75M▼ 8.5%€3.23M▲ 17.7%€2.33M▼ 27.9%€2.39M▲ 2.4%€2.81M▲ 17.4%
Debt€1.28M▲ 24.4%€1.57M▲ 22.8%€1.42M▼ 9.3%€1.28M▼ 10.2%€1.47M▲ 15.0%
Working capital€1.57M▼ 26.0%€1.78M▲ 13.2%€1.01M▼ 43.0%€1.20M▲ 18.7%€1.43M▲ 18.6%
Staff (FTE)14.2▼ 7.2%12.8▼ 9.9%9.7▼ 24.2%8.9▼ 8.2%9.4▲ 5.6%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 11% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.81M
Fixed assets
€19k ▲ 2.6%
Current assets
€2.79M ▲ 17.5%
Equity and liabilities €2.81M
Equity
€1.34M ▲ 20.2%
Debt
€1.47M ▲ 15.0%
Debt's share of the balance-sheet total falls from 53.4% to 52.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€290k▲
2024 · €262k
Cash flow
€228k▲
2024 · €206k
Current ratio
2.05▲
2024 · 2.03
Debt to equity
1.10▼
2024 · 1.15
ROE
16.8%▼
2024 · 18.2%
ROA
8.0%▼
2024 · 8.5%
Interest coverage
17.85▼
2024 · 26.37
Debt ≤ 1 year
€1.36M▲
2024 · €1.17M
Income taxes
€89k▲
2024 · €76k
Staff costs
€918k▲
2024 · €834k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €913k | €873k | €893k | €834k | €918k | ▲ 10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6k | €4k | €3k | €3k | €3k | ▼ 0.2% |
| Other operating charges640/8 | €176 | €177 | €180 | €130 | €374 | ▲ 188% |
| Gross operating margin9900 | €1.27M | €1.12M | €1.18M | €1.10M | €1.21M | ▲ 10.2% |
| Operating profit (loss)9901 | €349k | €247k | €282k | €259k | €287k | ▲ 10.8% |
| Financial income75/76B | €16k | €40k | €71k | €29k | €43k | ▲ 48.1% |
| Recurring financial income75 | €16k | €40k | €71k | €29k | €43k | ▲ 48.1% |
| Financial charges65/66B | €16k | €15k | €11k | €10k | €16k | ▲ 63.4% |
| Recurring financial charges65 | €16k | €15k | €11k | €10k | €16k | ▲ 63.4% |
| Profit (loss) for the period before taxes9903 | €349k | €272k | €342k | €278k | €313k | ▲ 12.7% |
| Income taxes67/77 | €104k | €76k | €99k | €76k | €89k | ▲ 17.3% |
| Profit (loss) for the period9904 | €244k | €195k | €242k | €202k | €225k | ▲ 11.0% |
| Profit (loss) for the period to be appropriated9905 | €244k | €195k | €242k | €202k | €225k | ▲ 11.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.75M | €3.23M | €2.33M | €2.39M | €2.81M | ▲ 17.4% |
| Fixed assets21/28 | €15k | €11k | €14k | €19k | €19k | ▲ 2.6% |
| Intangible fixed assets21 | - | - | - | €3k | €2k | ▼ 32.7% |
| Tangible fixed assets22/27 | €8k | €4k | €6k | €4k | €5k | ▲ 35.6% |
| Plant, machinery and equipment23 | €4k | €2k | €1k | €1k | €3k | ▲ 179% |
| Furniture and vehicles24 | €560 | €187 | €4k | €3k | €2k | ▼ 23.6% |
| Other tangible fixed assets26 | €3k | €1k | €664 | - | - | - |
| Financial fixed assets28 | €8k | €8k | €8k | €12k | €12k | ▲ 0.7% |
| Current assets29/58 | €2.73M | €3.22M | €2.32M | €2.37M | €2.79M | ▲ 17.5% |
| Amounts receivable within one year40/41 | €2.63M | €2.97M | €2.01M | €2.00M | €2.49M | ▲ 24.5% |
| Trade receivables40 | €1.24M | €1.51M | €1.37M | €1.41M | €1.34M | ▼ 5.0% |
| Other amounts receivable41 | €1.39M | €1.46M | €640k | €594k | €1.15M | ▲ 94.2% |
| Cash at bank and in hand54/58 | €17k | €189k | €220k | €306k | €239k | ▼ 21.9% |
| Deferred charges and accrued income490/1 | €82k | €65k | €87k | €63k | €56k | ▼ 11.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.75M | €3.23M | €2.33M | €2.39M | €2.81M | ▲ 17.4% |
| Equity10/15 | €1.47M | €1.67M | €911k | €1.11M | €1.34M | ▲ 20.2% |
| Contributions10/11 | €200k | €200k | €200k | €200k | €200k | = |
| Capital10 | €200k | €200k | €200k | €200k | €200k | = |
| Issued capital100 | €200k | €200k | €200k | €200k | €200k | = |
| Reserves13 | €20k | €20k | €20k | €20k | €20k | = |
| Non-distributable reserves130/1 | €20k | €20k | €20k | €20k | €20k | = |
| Legal reserve130 | €20k | €20k | €20k | €20k | €20k | = |
| Profit (loss) carried forward14 | €1.25M | €1.45M | €691k | €893k | €1.12M | ▲ 25.2% |
| Amounts payable17/49 | €1.28M | €1.57M | €1.42M | €1.28M | €1.47M | ▲ 15.0% |
| Amounts payable within one year42/48 | €1.16M | €1.45M | €1.31M | €1.17M | €1.36M | ▲ 16.4% |
| Trade debts44 | €74k | €75k | €86k | €31k | €24k | ▼ 22.8% |
| Suppliers440/4 | €74k | €75k | €86k | €31k | €24k | ▼ 22.8% |
| Taxes, remuneration and social security45 | €250k | €244k | €252k | €242k | €278k | ▲ 15.1% |
| Taxes450/3 | €85k | €75k | €84k | €64k | €70k | ▲ 9.6% |
| Remuneration and social security454/9 | €166k | €169k | €168k | €178k | €209k | ▲ 17.0% |
| Other amounts payable47/48 | €839k | €1.13M | €967k | €895k | €1.06M | ▲ 18.1% |
| Accrued charges and deferred income492/3 | €112k | €120k | €116k | €107k | €107k | ▼ 0.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €244k | €195k | €242k | €202k | €225k | ▲ 11.0% |
| + Depreciation and write-downs630 | €6k | €4k | €3k | €3k | €3k | ▼ 0.2% |
| Operating cash flow (approximation) | €251k | €199k | €245k | €206k | €228k | ▲ 10.9% |
| Investment in fixed assets (approximation) | - | €0 | €-5k | €-8k | €-4k | ▲ 53.9% |
| Change in cash | - | €172k | €31k | €85k | €-67k | ▼ 179% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
09-09
State Gazette act
Resignation: S. Vercaemer (director)Appointment: A. R. Hollyhead (director) · Director discharge · Power of attorney7 facts ▸
State Gazette act
Resignation: S. Vercaemer (director)
Appointment: A. R. Hollyhead (director) · Director discharge · Power of attorney7 facts ▸
- General meeting, 29-06-2026
- Director resignation, S. Vercaemer (director)
- Director discharge, S. Vercaemer (director)
- Director appointment, A. R. Hollyhead (director)
- Board meeting, 29-06-2026
- Power of attorney, A. R. Hollyhead
- Power of attorney, E.A. Teeuwen
26-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-11
Financial
Equity above €1MEq €1.11M ▲22.2%
7 profitable years in a row build equity to €1.11M.
13-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-11
Financial
Highest result since 2018net €244k ▲45.5%
Net result €244k, the highest in the series.
18-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
30-11
Financial
Weakest financial yearnet €168k ▼26.2%
Net result drops to €168k, the lowest in the series; recovery starts the following year.
18-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
21-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
22-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
04-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 4 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 17 acts read
About the unread acts
Of the 17 Belgian State Gazette acts we know for this company, 1 has been read. The other 16 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
A. R. Hollyhead
CurrentDirector · since 29-06-2026
29-06-2026
A. R. Hollyhead: Appointed as Director
29-06-2026
S. Vercaemer: Resigned as Director
Not every act has been read: a resignation may be missing here
16 of this company's 17 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Zedelgem · 1 establishment unit since 2002
Ground area
577 m²
Parcel 31017B0048/00W002, Flanders. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
DHCare Belgium
since 20022.113.551.806
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31017B0048/00W002 | Flanders | 577 m² | - | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Articles of association
Other provisions of the articles (1)
- Other statement
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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Public money · subsidies and aid
Flemish government
2025 · 1 entry · 586 EUR awarded · 586 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 586 EUR | 586 EUR |
Schemes
Vlaams opleidingsverlof (VOV)
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Of 1,902 companies in sector 46460 we hold annual accounts for 1,116. 740 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded24-06-1996
Fiscal year end30-11
Legal name NL
INVACARE
Activities, NACEBEL 2025
46460Wholesale of pharmaceutical and medical goods
46180Agents specialised in the wholesale of other particular products
Scores and ratios are computed by Checked and are not a credit decision.