Machinebouw Dewinter
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 18-06-2026 at the NBB all 49 filings
Turnover
≈ €160,000
Estimated: probably between €75,000 and €390,000
Total assets
€286,827▲ 7.0%
2024 · €268,126
Net result
€8,946▼ 54.0%
2024 · €19,447
Working capital
€201,952▼ 5.8%
2024 · €214,425
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€8,868
▼ 54.2%
2025
20182025
Net result
€8,946
▼ 54.0%
2025
middle half of the sector
20182025
Equity
€275,336
▲ 3.4%
2025
highest quarter of the sector
20182025
Total assets
€286,827
▲ 7.0%
2025
middle half of the sector
20182025
Debt
€11,491
▲ 562%
2025
20182025
Working capital
€201,952
▼ 5.8%
2025
highest quarter of the sector
20182025
Solvency
96.0%
▼ 3.4pp
2025
highest quarter of the sector
20182025
Current ratio
18.58
2025
highest quarter of the sector
20182025
Return on assets (ROA)
3.1%
▼ 4.1pp
2025
middle half of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€19,201-€5,287▼ 72.5%€418▼ 92.1%-€103,289-€20,504▲ 80.1%€8,604€19,350▲ 125%€8,868▼ 54.2%
Net result€15,949-€4,123▼ 74.1%€61within the sector's middle half▼ 98.5%-€109,688below the sector's middle half-€21,203below the sector's middle half▲ 80.7%€8,531within the sector's middle half€19,447within the sector's middle half▲ 128%€8,946within the sector's middle half▼ 54.0%
Equity€430,094-€434,217▲ 1.0%€434,279above the sector's middle half=€259,614above the sector's middle half▼ 40.2%€238,411above the sector's middle half▼ 8.2%€246,943above the sector's middle half▲ 3.6%€266,390above the sector's middle half▲ 7.9%€275,336above the sector's middle half▲ 3.4%
Total assets€483,689-€468,276▼ 3.2%€469,839within the sector's middle half▲ 0.3%€354,155within the sector's middle half▼ 24.6%€249,249within the sector's middle half▼ 29.6%€248,925within the sector's middle half▼ 0.1%€268,126within the sector's middle half▲ 7.7%€286,827within the sector's middle half▲ 7.0%
Debt€53,595-€34,059▼ 36.5%€35,560▲ 4.4%€94,540▲ 166%€10,838▼ 88.5%€1,982▼ 81.7%€1,736▼ 12.4%€11,491▲ 562%
Working capital€386,353-€358,364▼ 7.2%€367,185above the sector's middle half▲ 2.5%€201,219above the sector's middle half▼ 45.2%€200,368above the sector's middle half▼ 0.4%€193,224above the sector's middle half▼ 3.6%€214,425above the sector's middle half▲ 11.0%€201,952above the sector's middle half▼ 5.8%
Solvency88.9%-92.7%▲ 3.8pp92.4%above the sector's middle half▼ 0.3pp73.3%above the sector's middle half▼ 19.1pp95.7%above the sector's middle half▲ 22.3pp99.2%above the sector's middle half▲ 3.6pp99.4%above the sector's middle half▲ 0.1pp96.0%above the sector's middle half▼ 3.4pp
Current ratio8.22-11.53▲ 3.3111.33above the sector's middle half▼ 0.203.13within the sector's middle half▼ 8.2019.49above the sector's middle half▲ 16.3698.49above the sector's middle half▲ 79.0018.58above the sector's middle half
Return on assets (ROA)3.3%-0.9%▼ 2.4pp0.0%within the sector's middle half▼ 0.9pp-31.0%below the sector's middle half▼ 31.0pp-8.5%below the sector's middle half▲ 22.5pp3.4%within the sector's middle half▲ 11.9pp7.3%within the sector's middle half▲ 3.8pp3.1%within the sector's middle half▼ 4.1pp
Staff (FTE)2-2=1.4within the sector's middle half▼ 30.0%1▼ 28.6%1=0.3▼ 70.0%
above
within
below
The sector band is the middle half of the companies in Manufacture of machinery and equipment not elsewhere classified (NACE 28). 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 54% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €286,827
Fixed assets
€73,384 ▲ 41.2%
Current assets
€213,443 ▼ 1.3%
Equity and liabilities €286,827
Equity
€275,336 ▲ 3.4%
Debt
€11,491 ▲ 562%
Debt's share of the balance-sheet total rises from 0.6% to 4.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€15,949▼
2024 · €21,103
Cash flow
€16,027▼
2024 · €21,200
Quick ratio
14.22▼
2024 · 72.68
Debt to equity
0.04▲
2024 · 0.01
ROE
3.2%▼
2024 · 7.3%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€11,491▲
2024 · €1,736
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | - |
| full-time | 1 | 1 | - |
| in full-time equivalents | 1 | 1 | - |
| Average over the year, in full-time equivalents | 1 | 1 | 0.3 |
| On a permanent contract | 1 | 1 | - |
| Joined | - | - | 0 |
| Left | - | - | 1 |
Source: social balance sheet in the 2021 to 2023 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Pledge on the business | €49,579 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,212 | - | €16,480 | - | €28,500 |
| Depreciation and write-downs of the year | €9,160 | €33 | €805 | €1,753 | €7,081 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €916 | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €19,782 | €17,606 | €8,234 | €463 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,698 | €13,193 | €8,760 | €9,160 | €33 | €805 | €1,753 | €7,081 | ▲ 304% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €97,550 | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €5,088 | €16,354 | €4,870 | €5,226 | €5,365 | ▲ 2.7% |
| Non-recurring operating charges66A | - | - | - | €763 | - | - | - | - | - |
| Gross operating margin9900 | €110,151 | €67,703 | €39,598 | €29,054 | €13,489 | €22,512 | €26,792 | €21,314 | ▼ 20.4% |
| Operating profit (loss)9901 | €19,201 | €5,287 | €418 | -€103,289 | -€20,504 | €8,604 | €19,350 | €8,868 | ▼ 54.2% |
| Financial income75/76B | - | - | - | €878 | €37 | €106 | €186 | €187 | ▲ 0.8% |
| Recurring financial income75 | €885 | €909 | €784 | €878 | €37 | €106 | €186 | €187 | ▲ 0.8% |
| Financial charges65/66B | - | - | - | €740 | €623 | €179 | €89 | €109 | ▲ 22.8% |
| Recurring financial charges65 | €448 | €585 | €520 | €740 | €623 | €179 | €89 | €109 | ▲ 22.8% |
| Profit (loss) for the period before taxes9903 | €19,639 | €5,611 | €682 | -€103,151 | -€21,090 | €8,531 | €19,447 | €8,946 | ▼ 54.0% |
| Income taxes67/77 | €3,690 | €1,487 | €621 | €6,537 | €113 | - | - | - | - |
| Profit (loss) for the period9904 | €15,949 | €4,123 | €61 | -€109,688 | -€21,203 | €8,531 | €19,447 | €8,946 | ▼ 54.0% |
| Transfer from tax-exempt reserves789 | - | - | - | €42,553 | - | €545 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €15,949 | €4,123 | €61 | -€67,135 | -€21,203 | €9,077 | €19,447 | €8,946 | ▼ 54.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €483,689 | €468,276 | €469,839 | €354,155 | €249,249 | €248,925 | €268,126 | €286,827 | ▲ 7.0% |
| Fixed assets21/28 | €43,791 | €75,866 | €67,107 | €58,395 | €38,043 | €53,718 | €51,966 | €73,384 | ▲ 41.2% |
| Tangible fixed assets22/27 | €43,746 | €75,822 | €67,062 | €58,350 | €37,999 | €53,674 | €51,921 | €73,340 | ▲ 41.3% |
| Land and buildings22 | - | - | - | €37,999 | €37,999 | €52,649 | €51,106 | €49,562 | ▼ 3.0% |
| Plant, machinery and equipment23 | - | - | - | €1,374 | - | €1,025 | €815 | €23,777 | ▲ 29× |
| Furniture and vehicles24 | - | - | - | €18,978 | - | - | - | - | - |
| Financial fixed assets28 | €45 | €45 | €45 | €45 | €45 | €45 | €45 | €45 | = |
| Current assets29/58 | €439,898 | €392,410 | €402,732 | €295,760 | €211,205 | €195,206 | €216,160 | €213,443 | ▼ 1.3% |
| Stocks and contracts in progress3 | €215,476 | €206,850 | €225,222 | €116,580 | €116,580 | €116,580 | €90,000 | €50,000 | ▼ 44.4% |
| Stocks30/36 | - | - | - | €116,580 | €116,580 | €116,580 | €90,000 | €50,000 | ▼ 44.4% |
| Amounts receivable within one year40/41 | €51,652 | €71,100 | €40,799 | €33,578 | €18,703 | €28,843 | €20,617 | €67,926 | ▲ 229% |
| Trade receivables40 | - | - | - | €8,578 | €14,734 | €24,799 | €20,557 | €67,768 | ▲ 230% |
| Other amounts receivable41 | - | - | - | €25,000 | €3,969 | €4,044 | €60 | €158 | ▲ 162% |
| Current investments50/53 | €152,123 | €97,123 | €112,123 | €132,623 | €30,895 | €30,969 | €31,100 | €31,230 | ▲ 0.4% |
| Cash at bank and in hand54/58 | €14,348 | €10,749 | €18,563 | €7,884 | €41,703 | €14,999 | €73,602 | €63,403 | ▼ 13.9% |
| Deferred charges and accrued income490/1 | - | - | - | €5,094 | €3,324 | €3,815 | €841 | €884 | ▲ 5.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €483,689 | €468,276 | €469,839 | €354,155 | €249,249 | €248,925 | €268,126 | €286,827 | ▲ 7.0% |
| Equity10/15 | €430,094 | €434,217 | €434,279 | €259,614 | €238,411 | €246,943 | €266,390 | €275,336 | ▲ 3.4% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €411,494 | €415,617 | €415,679 | €241,014 | €219,811 | €228,343 | €228,343 | €228,343 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | - | - | €545 | €545 | - | - | - | - |
| Distributable reserves133 | - | - | - | €238,609 | €217,406 | €226,483 | €226,483 | €226,483 | = |
| Profit (loss) carried forward14 | - | - | - | - | - | - | €19,447 | €28,394 | ▲ 46.0% |
| Amounts payable17/49 | €53,595 | €34,059 | €35,560 | €94,540 | €10,838 | €1,982 | €1,736 | €11,491 | ▲ 562% |
| Amounts payable within one year42/48 | €53,546 | €34,046 | €35,547 | €94,540 | €10,838 | €1,982 | €1,736 | €11,491 | ▲ 562% |
| Financial debts43 | - | - | - | €1,337 | €1,336 | - | - | - | - |
| Credit institutions430/8 | - | - | - | €1,337 | - | - | - | - | - |
| Other loans439 | - | - | - | - | €1,336 | - | - | - | - |
| Trade debts44 | €30,193 | €3,899 | €9,990 | €3,144 | €3,203 | €1,776 | €554 | €565 | ▲ 1.9% |
| Suppliers440/4 | - | - | - | €3,144 | €3,203 | €1,776 | €554 | €565 | ▲ 1.9% |
| Taxes, remuneration and social security45 | - | - | - | €12,187 | €6,298 | €206 | €750 | €10,926 | ▲ 15× |
| Taxes450/3 | - | - | - | €7,853 | €5,501 | €206 | €750 | €10,926 | ▲ 15× |
| Remuneration and social security454/9 | - | - | - | €4,334 | €797 | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €77,872 | - | - | €431 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,949 | €4,123 | €61 | -€109,688 | -€21,203 | €8,531 | €19,447 | €8,946 | ▼ 54.0% |
| + Depreciation and write-downs630 | €19,698 | €13,193 | €8,760 | €9,160 | €33 | €805 | €1,753 | €7,081 | ▲ 304% |
| Operating cash flow (approximation) | €35,647 | €17,316 | €8,821 | -€100,528 | -€21,170 | €9,337 | €21,200 | €16,027 | ▼ 24.4% |
| Investment in fixed assets (approximation) | - | -€45,268 | €0 | -€448 | €20,318 | -€16,480 | €0 | -€28,500 | - |
| Change in cash | - | -€3,599 | €7,814 | -€10,679 | €33,819 | -€26,704 | €58,603 | -€10,200 | - |
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, 17,041 companies had the same profile as Machinebouw Dewinter has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Machinebouw Dewinter 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 17,041 companies, not a prediction for Machinebouw Dewinter. 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 | micro format | 18-06-2026 | 2026-00177991 | |
| 31-12-2024 | micro format | 25-07-2025 | 2025-00325594 | |
| 31-12-2023 | micro format | 22-07-2024 | 2024-00290891 | |
| 31-12-2022 | micro format | 12-10-2023 | 2023-00484263 | |
| 31-12-2021 | micro format | 29-08-2022 | 2022-20336512 | |
| 31-12-2020 | micro format | 20-07-2021 | 2021-37500319 | |
| 31-12-2019 | micro format | 20-07-2020 | 2020-31800253 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-59500326 | |
| 31-12-2017 | micro format | 11-07-2018 | 2018-31900086 | |
| 31-12-2016 | micro format | 17-07-2017 | 2017-32300195 |