Moeyaert David & Sofie
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 17-04-2026 PDF all 13 filings
Turnover
≈ €570,000
Estimated: probably between €480,000 and €780,000
Total assets
€1.6m▲ 3.0%
2024 · €1.6m
Net result
€112,956▼ 36.4%
2024 · €177,483
Working capital
€32,465
2024 · -€75,622
In the rankings
#4 company by equity in Zedelgem, Transport and storage sector#9 company by total assets in Zedelgem, Transport and storage sector
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€201,855
▼ 2.1%
2025
20192025
Net result
€112,956
▼ 36.4%
2025
highest quarter of the sector
20192025
Equity
€992,666
▲ 12.8%
2025
highest quarter of the sector
20192025
Total assets
€1.6m
▲ 3.0%
2025
middle half of the sector
20192025
Debt
€631,352
▼ 9.3%
2025
20192025
Working capital
€32,465
2025
middle half of the sector
20192025
Solvency
61.1%
▲ 5.3pp
2025
middle half of the sector
20192025
Current ratio
1.17
▲ 0.51
2025
middle half of the sector
20192025
Return on assets (ROA)
7.0%
▼ 4.3pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.04m-€0.08m▲ 137%€0.1m▲ 74.2%€0.1m▼ 22.5%€0.3m▲ 172%€0.2m▼ 32.4%€0.2m▼ 2.1%
Net result€0.02m-€0.03mwithin the sector's middle half▲ 86.4%€0.08mwithin the sector's middle half▲ 139%€0.05mwithin the sector's middle half▼ 29.8%€0.2mabove the sector's middle half▲ 235%€0.2mabove the sector's middle half▼ 0.4%€0.1mabove the sector's middle half▼ 36.4%
Equity€0.4m-€0.5mwithin the sector's middle half▲ 7.4%€0.5mwithin the sector's middle half▲ 16.4%€0.6mwithin the sector's middle half▲ 9.9%€0.8mwithin the sector's middle half▲ 30.2%€0.9mwithin the sector's middle half▲ 14.6%€1.0mabove the sector's middle half▲ 12.8%
Total assets€0.7m-€1.4mwithin the sector's middle half▲ 100%€1.4mwithin the sector's middle half▲ 3.0%€1.4mwithin the sector's middle half▼ 1.7%€1.5mwithin the sector's middle half▲ 7.6%€1.6mwithin the sector's middle half▲ 3.0%€1.6mwithin the sector's middle half▲ 3.0%
Debt€0.3m-€0.9m▲ 245%€0.9m▼ 3.5%€0.8m▼ 8.6%€0.8m▼ 8.4%€0.7m▼ 8.7%€0.6m▼ 9.3%
Working capital-€0.01m--€0.09mbelow the sector's middle half▼ 673%-€0.05mbelow the sector's middle half▲ 36.2%-€0.1mbelow the sector's middle half▼ 114%-€0.1mbelow the sector's middle half▼ 14.8%-€0.08mbelow the sector's middle half▲ 43.9%€0.03mwithin the sector's middle half
Solvency61.1%-32.8%within the sector's middle half▼ 28.3pp37.0%within the sector's middle half▲ 4.3pp41.4%within the sector's middle half▲ 4.4pp50.1%within the sector's middle half▲ 8.7pp55.8%within the sector's middle half▲ 5.7pp61.1%within the sector's middle half▲ 5.3pp
Current ratio0.61-0.39below the sector's middle half▼ 0.210.47below the sector's middle half▲ 0.080.24below the sector's middle half▼ 0.240.39below the sector's middle half▲ 0.150.67below the sector's middle half▲ 0.281.17within the sector's middle half▲ 0.51
Return on assets (ROA)2.4%-2.3%within the sector's middle half▼ 0.2pp5.2%within the sector's middle half▲ 3.0pp3.7%within the sector's middle half▼ 1.5pp11.6%above the sector's middle half▲ 7.9pp11.3%above the sector's middle half▼ 0.4pp7.0%within the sector's middle half▼ 4.3pp
above
within
below
The sector band is the middle half of the companies in Land transport and transport via pipelines (NACE 49). 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 2% lower than in 2024 and the lowest since 2022. It is the second fall in a row.
Turnover and EBIT margin are not published. The abbreviated 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 €1.6m
Fixed assets
€1.4m ▼ 1.4%
Current assets
€219,309 ▲ 44.6%
Equity and liabilities €1.6m
Equity
€992,666 ▲ 12.8%
Debt
€631,352 ▼ 9.3%
Debt's share of the balance-sheet total falls from 44.2% to 38.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€221,439▼
2024 · €225,862
Cash flow
€132,540▼
2024 · €197,067
Debt to equity
0.64▼
2024 · 0.79
ROE
11.4%▼
2024 · 20.2%
Interest coverage
6.51▲
2024 · 5.32
Debt ≤ 1 year
€186,844▼
2024 · €227,315
Debt > 1 year
€415,613▼
2024 · €433,537
Income taxes
€54,860▼
2024 · €60,309
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €92,990 | - | - | - |
| Mortgages, amount registered | €200,000 | - | - | - |
| Carrying value of the mortgaged assets | €681,000 | - | - | - |
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 | - | €97,920 | - | - |
| Depreciation and write-downs of the year | €11,872 | €3,264 | €19,584 | €19,584 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,900 | €3,900 | €10,883 | €11,872 | €3,264 | €19,584 | €19,584 | = |
| Other operating charges640/8 | - | - | - | €1,035 | €5,649 | €4,050 | €3,554 | ▼ 12.2% |
| Non-recurring operating charges66A | - | - | - | - | €5,605 | €3,426 | - | - |
| Gross operating margin9900 | €40,366 | €87,959 | €156,116 | €124,912 | €319,646 | €233,338 | €224,993 | ▼ 3.6% |
| Operating profit (loss)9901 | €35,005 | €82,980 | €144,523 | €112,006 | €305,129 | €206,278 | €201,855 | ▼ 2.1% |
| Financial income75/76B | - | - | - | - | - | €74,000 | - | - |
| Recurring financial income75 | €0 | €0 | - | - | - | €74,000 | - | - |
| Financial charges65/66B | - | - | - | €32,444 | €41,963 | €42,486 | €34,040 | ▼ 19.9% |
| Recurring financial charges65 | €10,658 | €30,927 | €33,988 | €32,444 | €41,963 | €42,486 | €34,040 | ▼ 19.9% |
| Profit (loss) for the period before taxes9903 | €24,347 | €52,053 | €110,535 | €79,561 | €263,165 | €237,792 | €167,815 | ▼ 29.4% |
| Income taxes67/77 | €7,350 | €20,377 | €34,833 | €26,394 | €84,988 | €60,309 | €54,860 | ▼ 9.0% |
| Profit (loss) for the period9904 | €16,997 | €31,676 | €75,702 | €53,168 | €178,178 | €177,483 | €112,956 | ▼ 36.4% |
| Profit (loss) for the period to be appropriated9905 | €16,997 | €31,676 | €75,702 | €53,168 | €178,178 | €177,483 | €112,956 | ▼ 36.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.7m | €1.4m | €1.4m | €1.4m | €1.5m | €1.6m | €1.6m | ▲ 3.0% |
| Fixed assets21/28 | €0.7m | €1.3m | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | ▼ 1.4% |
| Tangible fixed assets22/27 | €0.7m | €0.7m | €0.7m | €0.7m | €0.8m | €0.8m | €0.7m | ▼ 2.6% |
| Land and buildings22 | - | - | - | €0.7m | €0.7m | €0.7m | €0.7m | = |
| Furniture and vehicles24 | - | - | - | €0.04m | - | - | - | - |
| Leasing and similar rights25 | - | - | - | - | €0.09m | €0.08m | €0.06m | ▼ 26.1% |
| Financial fixed assets28 | - | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | = |
| Current assets29/58 | €0.02m | €0.06m | €0.05m | €0.04m | €0.09m | €0.2m | €0.2m | ▲ 44.6% |
| Amounts receivable within one year40/41 | - | €0.03m | €0.03m | €0.004m | €0.03m | €0.03m | €0.03m | ▲ 1.9% |
| Trade receivables40 | - | - | - | - | €0.03m | €0.03m | €0.03m | ▼ 0.2% |
| Other amounts receivable41 | - | - | - | €0.004m | - | €0.001m | €0.002m | ▲ 47.4% |
| Cash at bank and in hand54/58 | €0.01m | €0.03m | €0.02m | €0.03m | €0.05m | €0.1m | €0.2m | ▲ 58.3% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0.003m | €0.004m | €0.004m | ▼ 11.8% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.7m | €1.4m | €1.4m | €1.4m | €1.5m | €1.6m | €1.6m | ▲ 3.0% |
| Equity10/15 | €0.4m | €0.5m | €0.5m | €0.6m | €0.8m | €0.9m | €1.0m | ▲ 12.8% |
| Contributions10/11 | €0.4m | - | - | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Reserves13 | €0.07m | €0.1m | €0.2m | €0.2m | €0.4m | €0.5m | €0.6m | ▲ 21.8% |
| Distributable reserves133 | - | - | - | €0.2m | €0.4m | €0.5m | €0.6m | ▲ 21.8% |
| Amounts payable17/49 | €0.3m | €0.9m | €0.9m | €0.8m | €0.8m | €0.7m | €0.6m | ▼ 9.3% |
| Amounts payable after more than one year17 | €0.2m | €0.8m | €0.8m | €0.7m | €0.5m | €0.4m | €0.4m | ▼ 4.1% |
| Financial debts170/4 | - | - | - | €0.7m | €0.5m | €0.4m | €0.4m | ▼ 4.1% |
| Amounts payable within one year42/48 | €0.03m | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 17.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.03m | €0.01m | €0.02m | €0.02m | ▲ 4.9% |
| Trade debts44 | €0.002m | €0.009m | €462 | €0.007m | €0.004m | €0.003m | €0.003m | ▼ 16.5% |
| Suppliers440/4 | - | - | - | €0.007m | €0.004m | €0.003m | €0.003m | ▼ 16.5% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.05m | €0.03m | €0.03m | ▼ 15.3% |
| Taxes450/3 | - | - | - | €0.01m | €0.05m | €0.02m | €0.02m | ▼ 19.3% |
| Remuneration and social security454/9 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Other amounts payable47/48 | - | - | - | €0.1m | €0.2m | €0.2m | €0.1m | ▼ 20.3% |
| Accrued charges and deferred income492/3 | - | - | - | €0.03m | €0.04m | €0.04m | €0.03m | ▼ 18.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16,997 | €31,676 | €75,702 | €53,168 | €178,178 | €177,483 | €112,956 | ▼ 36.4% |
| + Depreciation and write-downs630 | €3,900 | €3,900 | €10,883 | €11,872 | €3,264 | €19,584 | €19,584 | = |
| Operating cash flow (approximation) | €20,897 | €35,576 | €86,585 | €65,039 | €181,442 | €197,067 | €132,540 | ▼ 32.7% |
| Investment in fixed assets (approximation) | - | -€668,220 | -€59,360 | €0 | -€61,315 | €0 | €0 | - |
| Change in cash | - | €13,441 | -€10,700 | €12,781 | €22,709 | €62,614 | €67,529 | ▲ 7.9% |
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, 17,811 companies had the same profile as Moeyaert David & Sofie has now. Two years later, 96.5% were still going and 0.3% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
96.5%
was still going
3.1%
stopped otherwise
0.3%
went bankrupt
That fits the bankruptcy probability of Moeyaert David & Sofie 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 17,811 companies, not a prediction for Moeyaert David & Sofie. 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 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 17-04-2026 | 2026-00081745 | |
| 30-09-2024 | abbreviated format | 12-12-2024 | 2024-00614959 | |
| 30-09-2023 | abbreviated format | 05-01-2024 | 2024-00543725 | |
| 30-09-2022 | abbreviated format | 06-01-2023 | 2023-20554180 | |
| 30-09-2021 | abbreviated format | 18-01-2022 | 2022-01100525 | |
| 30-09-2020 | abbreviated format | 25-03-2021 | 2021-08400592 | |
| 30-09-2019 | abbreviated format | 20-04-2020 | 2020-09400315 | |
| 30-09-2018 | abbreviated format | 17-04-2019 | 2019-10200012 | |
| 30-09-2017 | abbreviated format | 26-03-2018 | 2018-07800324 | |
| 30-09-2016 | abbreviated format | 27-03-2017 | 2017-07400146 |