Robert Diffels
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 27-07-2026 at the NBB all 36 filings
Turnover
≈ €3.1m
Estimated: probably between €2.1m and €5.1m
EBIT margin
Not included in this filing
Net result
€24,294▼ 80.7%
2024 · €125,909
Working capital
€268,204▲ 714%
2024 · €32,965
In the rankings
#1 company by total assets in Gouvy, Agriculture, forestry and fishing sector#2 oldest company in Gouvy, Agriculture, forestry and fishing sector#7 employer in the province of Luxembourg, Forestry sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€67,035
▼ 70.5%
2025
20182025
Net result
€24,294
▼ 80.7%
2025
middle half of the sector
20182025
Equity
€1.3m
▲ 1.6%
2025
middle half of the sector
20182025
Total assets
€3.3m
▼ 11.1%
2025
highest quarter of the sector
20182025
Debt
€2.0m
▼ 18.0%
2025
20182025
Working capital
€268,204
▲ 714%
2025
middle half of the sector
20182025
Solvency
40.1%
▲ 5.0pp
2025
middle half of the sector
20182025
Current ratio
1.34
▲ 0.30
2025
middle half of the sector
20182025
Return on assets (ROA)
0.7%
▼ 2.7pp
2025
middle half of the sector
20182025
Staff (FTE)
13.8
▲ 5.3%
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
Operating result€0.06m-€0.3m▲ 368%€0.3m▼ 1.0%€0.2m▼ 24.7%€0.1m▼ 50.6%€0.2m▲ 70.0%€0.2m▲ 19.8%€0.07m▼ 70.5%
Net result€0.06m-€0.3m▲ 401%€0.3mabove the sector's middle half▼ 1.3%€0.3mabove the sector's middle half▼ 14.6%€0.1mwithin the sector's middle half▼ 55.5%€0.1mabove the sector's middle half▲ 12.6%€0.1mabove the sector's middle half▼ 1.7%€0.02mwithin the sector's middle half▼ 80.7%
Equity€0.1m-€0.4m▲ 260%€0.7mwithin the sector's middle half▲ 76.6%€0.9mwithin the sector's middle half▲ 34.4%€1.1mwithin the sector's middle half▲ 11.6%€1.2mwithin the sector's middle half▲ 12.5%€1.3mwithin the sector's middle half▲ 10.0%€1.3mwithin the sector's middle half▲ 1.6%
Total assets€1.0m-€2.6m▲ 164%€2.9mabove the sector's middle half▲ 9.4%€3.5mabove the sector's middle half▲ 21.6%€3.1mwithin the sector's middle half▼ 10.8%€4.1mabove the sector's middle half▲ 32.2%€3.7mabove the sector's middle half▼ 9.9%€3.3mabove the sector's middle half▼ 11.1%
Debt€0.9m-€2.2m▲ 152%€2.2m▼ 2.6%€2.5m▲ 17.5%€2.1m▼ 19.1%€2.9m▲ 42.4%€2.4m▼ 17.9%€2.0m▼ 18.0%
Working capital€0.02m-€0.04m▲ 71.8%€0.1mwithin the sector's middle half▲ 268%-€0.3mbelow the sector's middle half-€0.1mbelow the sector's middle half▲ 63.2%-€0.2mbelow the sector's middle half▼ 127%€0.03mwithin the sector's middle half€0.3mwithin the sector's middle half▲ 714%
Solvency11.1%-15.1%▲ 4.0pp24.5%within the sector's middle half▲ 9.3pp27.0%within the sector's middle half▲ 2.6pp33.8%within the sector's middle half▲ 6.8pp28.8%within the sector's middle half▼ 5.1pp35.1%within the sector's middle half▲ 6.3pp40.1%within the sector's middle half▲ 5.0pp
Current ratio1.06-1.04▼ 0.031.17within the sector's middle half▲ 0.130.72below the sector's middle half▼ 0.440.89below the sector's middle half▲ 0.160.75below the sector's middle half▼ 0.141.04within the sector's middle half▲ 0.291.34within the sector's middle half▲ 0.30
Return on assets (ROA)6.1%-11.5%▲ 5.5pp10.4%above the sector's middle half▼ 1.1pp7.3%within the sector's middle half▼ 3.1pp3.7%within the sector's middle half▼ 3.7pp3.1%within the sector's middle half▼ 0.5pp3.4%within the sector's middle half▲ 0.3pp0.7%within the sector's middle half▼ 2.7pp
Staff (FTE)3.4-5.2▲ 52.9%5.8within the sector's middle half▲ 11.5%9.2above the sector's middle half▲ 58.6%10.8above the sector's middle half▲ 17.4%12.1above the sector's middle half▲ 12.0%13.1above the sector's middle half▲ 8.3%13.8above the sector's middle half▲ 5.3%
above
within
below
The sector band is the middle half of the companies in Forestry and logging (NACE 02). 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 71% lower than in 2024 and the lowest since 2021.
Large changes and their cause
- 2025 Net result -81% on 2024. The accounts now follow the abbreviated format, last year the full format.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.3m
Fixed assets
€2.2m ▼ 19.7%
Current assets
€1.1m ▲ 15.0%
Equity and liabilities €3.3m
Equity
€1.3m ▲ 1.6%
Debt
€2.0m ▼ 18.0%
Debt's share of the balance-sheet total falls from 64.9% to 59.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€941,371▼
2024 · €1.1m
Cash flow
€898,631▼
2024 · €1.0m
Quick ratio
0.87▼
2024 · 0.93
Debt to equity
1.49▼
2024 · 1.85
ROE
1.8%▼
2024 · 9.7%
Interest coverage
15.59▲
2024 · 15.33
Debt ≤ 1 year
€789,641▼
2024 · €886,948
Debt > 1 year
€1.2m▼
2024 · €1.5m
Income taxes
€2,170▼
2024 · €37,578
Staff costs
€842,079▲
2024 · €742,120
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 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 11 | 12 | 12 | 13 | 15 |
| full-time | 10 | 11 | 11 | 12 | 14 |
| part-time | 1 | 1 | 1 | 1 | 1 |
| in full-time equivalents | 10.4 | 11.4 | 11.4 | 12.4 | 14.4 |
| Average over the year, in full-time equivalents | 9.2 | 10.8 | 12.1 | 13.1 | 13.8 |
| On a permanent contract | 11 | 10 | 10 | 11 | 12 |
| Joined | 8 | 3 | 6 | 8 | 4 |
| Left | 4 | 2 | 6 | 7 | 2 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €2.0m | - | €2.7m | €2.2m | €1.7m |
| Carrying value of the other pledged assets | - | - | €3.1m | €2.5m | €2.0m |
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 | €1.4m | €300,763 | €1.9m | €355,957 | €322,322 |
| Financial fixed assets | - | - | - | - | €3,000 |
| Depreciation and write-downs of the year | €596,482 | €668,024 | €786,641 | €900,387 | €874,337 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €0.5m | €0.6m | €0.7m | €0.7m | €0.8m | ▲ 13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.3m | €0.4m | €0.4m | €0.6m | €0.7m | €0.8m | €0.9m | €0.9m | ▼ 2.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €0.01m | -€0.01m | €0 | - |
| Other operating charges640/8 | - | - | - | €0.008m | €0.007m | €0.008m | €0.02m | €0.02m | ▲ 12.2% |
| Non-recurring operating charges66A | - | - | - | €0.04m | €0.02m | €0.008m | €0.002m | €0 | ▼ 100% |
| Gross operating margin9900 | €0.5m | €1.0m | €1.1m | €1.3m | €1.4m | €1.7m | €1.9m | €1.8m | ▼ 4.0% |
| Operating profit (loss)9901 | €0.06m | €0.3m | €0.3m | €0.2m | €0.1m | €0.2m | €0.2m | €0.07m | ▼ 70.5% |
| Financial income75/76B | - | - | - | €0.07m | €0.07m | €0.02m | €0.01m | €0.02m | ▲ 105% |
| Recurring financial income75 | €0.02m | €0.02m | €0.01m | €0.02m | €0.006m | €0.02m | €0.01m | €0.02m | ▲ 105% |
| Non-recurring financial income76B | - | - | - | €0.05m | €0.06m | €0 | - | - | - |
| Financial charges65/66B | - | - | - | €0.03m | €0.03m | €0.07m | €0.07m | €0.06m | ▼ 17.9% |
| Recurring financial charges65 | €0.02m | €0.02m | €0.03m | €0.03m | €0.03m | €0.07m | €0.07m | €0.06m | ▼ 17.9% |
| Profit (loss) for the period before taxes9903 | €0.06m | €0.3m | €0.3m | €0.3m | €0.1m | €0.1m | €0.2m | €0.03m | ▼ 83.8% |
| Income taxes67/77 | €7 | - | €0.02m | €0.009m | €0.03m | €0.01m | €0.04m | €0.002m | ▼ 94.2% |
| Profit (loss) for the period9904 | €0.06m | €0.3m | €0.3m | €0.3m | €0.1m | €0.1m | €0.1m | €0.02m | ▼ 80.7% |
| Profit (loss) for the period to be appropriated9905 | €0.06m | €0.3m | €0.3m | €0.3m | €0.1m | €0.1m | €0.1m | €0.02m | ▼ 80.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.0m | €2.6m | €2.9m | €3.5m | €3.1m | €4.1m | €3.7m | €3.3m | ▼ 11.1% |
| Fixed assets21/28 | €0.6m | €1.6m | €1.9m | €2.8m | €2.3m | €3.4m | €2.8m | €2.2m | ▼ 19.7% |
| Tangible fixed assets22/27 | €0.6m | €1.1m | €1.4m | €2.3m | €1.8m | €2.9m | €2.3m | €1.7m | ▼ 24.1% |
| Plant, machinery and equipment23 | - | - | - | €1.1m | €0.7m | €0.9m | €0.5m | €0.3m | ▼ 50.4% |
| Furniture and vehicles24 | - | - | - | €0.4m | €0.5m | €0.4m | €0.5m | €0.4m | ▼ 25.8% |
| Leasing and similar rights25 | - | - | - | €0.7m | €0.6m | €1.6m | €1.2m | €1.1m | ▼ 13.6% |
| Other tangible fixed assets26 | - | - | - | - | - | - | €0.06m | €0.06m | ▲ 13.9% |
| Financial fixed assets28 | €0.002m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | ▲ 0.6% |
| Current assets29/58 | €0.4m | €1.0m | €0.9m | €0.7m | €0.8m | €0.7m | €0.9m | €1.1m | ▲ 15.0% |
| Stocks and contracts in progress3 | - | €0.3m | €0.02m | €0.1m | €0.007m | €0.09m | €0.09m | €0.4m | ▲ 289% |
| Contracts in progress37 | - | - | - | €0.1m | €0.007m | €0.09m | €0.09m | €0.4m | ▲ 289% |
| Amounts receivable within one year40/41 | €0.3m | €0.6m | €0.7m | €0.4m | €0.6m | €0.5m | €0.7m | €0.5m | ▼ 26.7% |
| Trade receivables40 | - | - | - | €0.3m | €0.6m | €0.3m | €0.6m | €0.4m | ▼ 34.6% |
| Other amounts receivable41 | - | - | - | €0.09m | €0.009m | €0.2m | €0.006m | €0.06m | ▲ 803% |
| Cash at bank and in hand54/58 | €0.04m | €0.2m | €0.2m | €0.1m | €0.2m | €0.1m | €0.1m | €0.2m | ▲ 25.6% |
| Deferred charges and accrued income490/1 | - | - | - | €0.06m | €0.03m | €0.04m | €0.04m | €0.05m | ▲ 16.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.0m | €2.6m | €2.9m | €3.5m | €3.1m | €4.1m | €3.7m | €3.3m | ▼ 11.1% |
| Equity10/15 | €0.1m | €0.4m | €0.7m | €0.9m | €1.1m | €1.2m | €1.3m | €1.3m | ▲ 1.6% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.1m | €0.1m | €0.5m | €0.8m | €1.0m | €1.1m | €1.3m | €1.3m | ▲ 4.0% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €0.8m | €1.0m | €1.1m | €1.3m | €1.3m | ▲ 4.0% |
| Profit (loss) carried forward14 | -€0.06m | €0.2m | €0.2m | €0.2m | €0.01m | €0.03m | €0.03m | €0 | ▼ 100% |
| Investment grants15 | - | - | - | €0.01m | €0.008m | €0.01m | €0.003m | €83 | ▼ 97.4% |
| Amounts payable17/49 | €0.9m | €2.2m | €2.2m | €2.5m | €2.1m | €2.9m | €2.4m | €2.0m | ▼ 18.0% |
| Amounts payable after more than one year17 | €0.6m | €1.2m | €1.4m | €1.5m | €1.1m | €2.0m | €1.5m | €1.2m | ▼ 22.5% |
| Financial debts170/4 | - | - | - | €1.4m | €1.1m | €2.0m | €1.5m | €1.2m | ▼ 22.9% |
| Other amounts payable178/9 | - | - | - | €0.07m | €0.04m | €0.02m | €0.02m | €0.02m | ▲ 6.9% |
| Amounts payable within one year42/48 | €0.3m | €1.0m | €0.8m | €1.0m | €0.9m | €0.9m | €0.9m | €0.8m | ▼ 11.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.6m | €0.5m | €0.7m | €0.7m | €0.6m | ▼ 14.1% |
| Financial debts43 | - | - | - | €0.1m | €0.1m | €0 | - | - | - |
| Credit institutions430/8 | - | - | - | €0.1m | €0.1m | €0 | - | - | - |
| Trade debts44 | €0.1m | €0.4m | €0.2m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 8.7% |
| Suppliers440/4 | - | - | - | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 8.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.06m | €0.09m | €0.05m | €0.07m | €0.05m | ▼ 24.2% |
| Taxes450/3 | - | - | - | €275 | €0.02m | €0.005m | €400 | €368 | ▼ 7.9% |
| Remuneration and social security454/9 | - | - | - | €0.06m | €0.07m | €0.05m | €0.07m | €0.05m | ▼ 24.3% |
| Other amounts payable47/48 | - | - | - | €0.001m | €486 | €341 | €0.001m | €0.001m | ▼ 8.0% |
| Accrued charges and deferred income492/3 | - | - | - | €0.01m | €0.01m | €0.02m | €0.002m | €0.009m | ▲ 358% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.06m | €0.3m | €0.3m | €0.3m | €0.1m | €0.1m | €0.1m | €0.02m | ▼ 80.7% |
| + Depreciation and write-downs630 | €0.3m | €0.4m | €0.4m | €0.6m | €0.7m | €0.8m | €0.9m | €0.9m | ▼ 2.9% |
| Operating cash flow (approximation) | €0.4m | €0.7m | €0.7m | €0.9m | €0.8m | €0.9m | €1.0m | €0.9m | ▼ 12.4% |
| Investment in fixed assets (approximation) | - | -€1.4m | -€0.8m | -€1.4m | -€0.2m | -€1.9m | -€0.3m | -€0.3m | ▼ 15.9% |
| Change in cash | - | €0.1m | €0.02m | -€0.1m | €0.1m | -€0.1m | €0.01m | €0.03m | ▲ 164% |
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, 14,766 companies had the same profile as Robert Diffels has now. Two years later, 96.2% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
96.2%
was still going
3.5%
stopped otherwise
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Robert Diffels itself: 0.4% 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 14,766 companies, not a prediction for Robert Diffels. 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 36 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 27-07-2026 | 2026-00352162 | |
| 31-12-2024 | full format | 23-07-2025 | 2025-00311679 | |
| 31-12-2023 | full format | 17-07-2024 | 2024-00264381 | |
| 31-12-2022 | full format | 07-07-2023 | 2023-00222111 | |
| 31-12-2021 | full format | 23-06-2022 | 2022-20097232 | |
| 31-12-2020 | full format | 27-07-2021 | 2021-41000303 | |
| 31-12-2019 | full format | 09-07-2020 | 2020-28300327 | |
| 31-12-2018 | full format | 19-07-2019 | 2019-35300584 | |
| 31-12-2017 | full format | 28-08-2018 | 2018-53600270 | |
| 31-12-2016 | full format | 28-08-2017 | 2017-49800215 |