Equity
Odegas has made a profit in every financial year since 2021.
Odegas has made a profit in every financial year since 2021.
The result rose in 2025 from €329,278 to €2.0m.
The abbreviated format states no turnover.
Green is investment, beige is depreciation.
Short-term debts fell from €219,063 to €184,533.
Higher net result than 95% of companies in legal and accounting. Sector median €95,106 · 4,118 companies.
The dashed line is the sector median: < 0.1% across 1,476 companies (NACE 69, small).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 69, small). It does better than 86% of them on solvency, 99% on liquidity, 94% on profitability and 95% on growth.
The bankruptcy probability was computed on 06-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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).
In July 2024, 6,782 companies had the same profile as Odegas has now. Each dot stands for 17 companies, two years later.
That fits the bankruptcy probability of Odegas itself: < 0.1% within 12 months.
The method was tested on the 497,447 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 6,782 companies, not a prediction for Odegas. 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.
Liquidity is ample, with a current ratio of 19.82 (4.65 in 2024), above the usual 1.5. Short-term debt is 3.9% and cash 64.5% of total assets. 20.3% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 5 accounts on average 135 days before the deadline. In the sector (NACE 69), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| Odegas Wortegem-Petegem | €4.7m | €228,154 | 79.7% | 0 |
| Holding AS Ghent | €3.1m | €196,263 | 29.5% | 0 |
| IBA Holding Westerlo | €5.3m | €273,403 | 27.8% | 0 |
| IMALI Brasschaat | €4.0m | €197,986 | 40.1% | 0 |
| 1713 Sint-Niklaas | €2.7m | €194,721 | 75.3% | 0 |
| MirFinances Chaumont-Gistoux | €4.6m | €293,631 | 36.6% | 0 |
| DRV HOLDING Namur | €2.5m | €421,291 | 37.7% | 0 |
These companies have the same main activity as Odegas: certified accountants and tax accountants (NACE 69201). They are comparable in size and age: total assets between €2.5m and €5.3m, founded between 2013 and 2023.
Odegas files the abbreviated format. That format states no turnover. The gross margin rose from €202,887 in 2021 to €228,154 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €430,000. Estimated: probably between €350,000 and €520,000.
Higher than 82% of 4,130 companies in 2025.
Higher than 95% of 4,066 companies in 2025.
Higher than 91% of 4,101 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter · Staff: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
4.7m | 2.8m | 2.5m | 1.2m | 1.1m | |
21/28 |
1.0m | 1.8m | 2.4m | 693,493 | 730,291 | |
22/27 |
181,124 | 1,486 | 2,659 | - | 36,797 | |
23 |
- | 0 | 46 | - | - | |
24 |
130,419 | - | - | - | 36,797 | |
26 |
706 | 1,486 | 2,613 | - | - | |
27 |
50,000 | - | - | - | - | |
28 |
867,166 | 1.8m | 2.4m | 693,493 | 693,493 | |
29/58 |
3.7m | 1.0m | 162,044 | 479,971 | 344,938 | |
29 |
519,200 | - | 0 | 345,852 | 305,344 | |
291 |
519,200 | - | 0 | 345,852 | 305,344 | |
40/41 |
97,556 | 54,875 | 51,985 | 44,536 | 21,841 | |
40 |
25,544 | 21,875 | 51,985 | 44,536 | 21,841 | |
41 |
72,012 | 33,000 | - | - | - | |
50/53 |
0 | 925,000 | - | - | - | |
54/58 |
3.0m | 30,988 | 106,564 | 85,766 | 14,742 | |
490/1 |
4,669 | 8,524 | 3,495 | 3,816 | 3,011 | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
4.7m | 2.8m | 2.5m | 1.2m | 1.1m | |
10/15 |
3.7m | 1.7m | 1.4m | 310,998 | 192,947 | |
10/11 |
95,000 | 95,000 | 95,000 | 75,000 | 75,000 | |
10 |
95,000 | 95,000 | 95,000 | 75,000 | - | |
100 |
95,000 | 95,000 | 95,000 | 75,000 | 75,000 | |
13 |
3.7m | 1.7m | 1.3m | 235,998 | 117,947 | |
130/1 |
9,500 | 9,500 | 9,500 | 7,500 | 7,500 | |
130 |
9,500 | 9,500 | 9,500 | 7,500 | 7,500 | |
133 |
3.6m | 1.6m | 1.3m | 228,498 | 110,447 | |
14 |
0 | - | - | - | - | |
17/49 |
957,035 | 1.1m | 1.1m | 862,466 | 882,281 | |
17 |
771,481 | 843,336 | 930,081 | 664,385 | 745,477 | |
170/4 |
736,497 | 830,062 | 930,081 | 664,385 | 745,477 | |
178/9 |
34,984 | 13,274 | - | - | - | |
42/48 |
184,533 | 219,063 | 179,682 | 190,286 | 135,784 | |
42 |
146,036 | 128,125 | 108,648 | 72,536 | 72,425 | |
43 |
0 | 13,502 | - | - | - | |
430/8 |
0 | 13,502 | - | - | - | |
44 |
2,559 | 550 | 818 | 917 | 4,984 | |
440/4 |
2,559 | 550 | 818 | 917 | 4,984 | |
45 |
26,520 | 71,424 | 60,239 | 112,026 | 58,375 | |
450/3 |
26,520 | 71,424 | 60,239 | 112,026 | 58,375 | |
47/48 |
9,418 | 5,462 | 9,977 | 4,808 | - | |
492/3 |
1,021 | 1,021 | 1,062 | 7,795 | 1,021 | |
| Income statement | ||||||
76A |
- | - | 0 | 9,578 | - | |
9900 |
228,154 | 215,852 | 174,760 | 182,782 | 202,887 | |
630 |
17,579 | 1,173 | 1,293 | 13,875 | 18,703 | |
640/8 |
2,075 | 2,168 | 2,920 | 1,401 | 4,460 | |
66A |
- | 0 | 311 | - | - | |
9901 |
208,500 | 212,511 | 170,236 | 167,506 | 179,724 | |
75/76B |
1.9m | 191,976 | 877,198 | 4,858 | 3,845 | |
75 |
1.8m | 77,568 | 7,820 | 4,858 | 3,845 | |
76B |
33,173 | 114,408 | 869,378 | - | - | |
65/66B |
17,201 | 16,907 | 22,898 | 12,984 | 18,724 | |
65 |
17,201 | 16,907 | 22,898 | 12,984 | 18,724 | |
9903 |
2.1m | 387,580 | 1.0m | 159,381 | 164,845 | |
67/77 |
64,614 | 58,302 | 41,693 | 41,329 | 46,898 | |
9904 |
2.0m | 329,278 | 982,842 | 118,051 | 117,947 | |
9905 |
2.0m | 329,278 | 982,842 | 118,051 | 117,947 | |
| Appropriation of the result | ||||||
9906 |
2.0m | 329,278 | 982,842 | 118,051 | 117,947 | |
691/2 |
2.0m | 329,278 | 982,842 | 118,051 | 117,947 | |
6920 |
- | - | - | - | 7,500 | |
6921 |
2.0m | 329,278 | 982,842 | 118,051 | 110,447 | |
694/7 |
9,000 | - | - | - | - | |
695 |
9,000 | - | - | - | - | |
| Social balance sheet | ||||||
9087 |
0 | 0 | 0 | - | - | |
| Document | ||||||
The notes to these accounts have 18 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 09-05-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 09-05-2026 | 2026-00106861 | |
| 31-12-2024 | abbreviated format | 17-01-2025 | 2025-00006083 | |
| 31-12-2023 | abbreviated format | 04-04-2024 | 2024-00057068 | |
| 31-12-2022 | abbreviated format | 03-04-2023 | 2023-00051791 | |
| 31-12-2021 | abbreviated format | 19-02-2022 | 2022-06000121 |
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €113 | €113 |
| 2024 | 1 | €375 | €375 |
| 2023 | 1 | €339 | €339 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| 226,079 | 213,684 | 171,529 | 181,381 | 198,427 | ||
| 2.0m | 330,451 | 984,135 | 131,926 | 136,650 | ||
| 203,258 | 14,508 | 2.1m | -22,922 | 748,993 | ||
| 3.0m | -75,576 | 20,798 | 71,024 | - | ||
| 3.5m | 800,323 | -17,638 | 289,684 | 209,154 | ||
| 79.7% | 62.2% | 56.1% | 26.5% | 17.9% | ||
| 19.82 | 4.65 | 0.90 | 2.52 | 2.54 | ||
| 0.26 | 0.61 | 0.78 | 2.77 | 4.57 | ||
| 53.6% | 18.8% | 69.3% | 38.0% | 61.1% | ||
| 42.7% | 11.7% | 38.8% | 10.1% | 11.0% | ||
| 13.14 | 12.64 | 7.49 | 13.97 | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | €197,217 | - | - | - |
| Financial fixed assets | €6,041 | €14,508 | €2.1m | - |
| €17,579 | €1,173 | €1,293 | €13,875 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 2% lower than in 2024.
Debt's share of the balance-sheet total falls from 37.8% to 20.3%. Equity is higher and debt is lower.
Source: list of holdings in its own 2025 accounts. Every holding stands with its own latest accounts.
| Name | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| CRYSTAPHARM | 25% | 25.91% | |||
| COMPAGNIE DU PARC | 18.06% | 9.03% | |||
| WARFID | 19% | ||||
Source: list of holdings in its own accounts
The connected companies are in the list below.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
On 22 July 2020, Odegas was incorporated as a public limited company.1 A capital increase in 2023 brought the capital to €95,000.2 VANDEM was merged into the company in 2023.2 Demaître Sébastien is director of the company according to the 2025 annual accounts.3 Total assets went from €2.5m in 2023 to €4.7m in 2025.4
“Werkzaamheden van accountant en van belastingconsulent uit te oefenen,zoals omschreven in de artikelen 34 en 38 van de wet van 22 april 1999 betreffende de boekhoudkundige en fiscale beroepen,evenals het uitoefenen van alle hiermee verenigbare activiteiten”
| Establishment | Since | Unit number |
|---|---|---|
| ODE registered office Oudenaardseweg (W.-M.) 3A, 9790 Wortegem-Petegem | 22-07-2020 | 2.305.507.579 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 45055B0438/00K002 | 1,379 m² | 1 · 304 m² | 8.3 m · 2 |
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