DnFNot
ActiveSummary
DnFNot has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €22k and a net result of €75. Equity remains stable across the filed fiscal years (±0.9% per year). Its solvency ranks better than 13% of 12738 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability35▼-34
Solvency34▼-6
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity tight (current ratio 1.08 against 1.13 in 2024; short-term debt: 90.8% and cash: 39.9% of total assets), and 90.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
9.2%
Return on assets
0%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 12738 sector peers (2025).
NBB · sector comparisonPosition among 12738 sector peers
Solvency
better than 13%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-07-2026, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
13 d early
2023
27 d early
2022
40 d early
2021
3 d early
2020
29 d early
2019
31 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€22k▲ 0.3%
2024 · €22k
2018: €21k
2019: €21k▲ +1.7% vs 2018
2020: €21k● 0.0% vs 2019
2021: €21k▼ -1.8% vs 2020
2022: €20k▼ -1.3% vs 2021lowest in 8 years
2023: €22k▲ +8.0% vs 2022
2024: €22k▼ -0.3% vs 2023
2025: €22k▲ +0.3% vs 2024highest in 8 years
2018 → 2025
Total assets
€241k▲ 63.3%
2024 · €147k
2018: €112klowest in 8 years
2019: €115k▲ +2.4% vs 2018
2020: €144k▲ +25.8% vs 2019
2021: €158k▲ +9.7% vs 2020
2022: €146k▼ -7.6% vs 2021
2023: €179k▲ +22.1% vs 2022
2024: €147k▼ -17.4% vs 2023
2025: €241k▲ +63.3% vs 2024highest in 8 years
2018 → 2025
Net result
€75▲ 236%
2024 · €22
2018: €68khighest in 8 years
2019: €56k▼ -17.5% vs 2018
2020: €15k▼ -73.2% vs 2019
2021: €9k▼ -42.8% vs 2020
2022: €7k▼ -20.8% vs 2021
2023: €2k▼ -76.1% vs 2022
2024: €22▼ -98.6% vs 2023lowest in 8 years
2025: €75▲ +236% vs 2024
2018 → 2025
Working capital
€17k▲ 7.6%
2024 · €16k
2018: €20k
2019: €25k▲ +25.4% vs 2018
2020: €20k▼ -21.0% vs 2019
2021: €87k▲ +340% vs 2020highest in 8 years
2022: €16k▼ -81.4% vs 2021
2023: €14k▼ -16.0% vs 2022lowest in 8 years
2024: €16k▲ +18.8% vs 2023
2025: €17k▲ +7.6% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€21k-€20k▼ 1.3%€22k▲ 8.0%€22k▼ 0.3%€22k▲ 0.3%
2021: €21k
2022: €20k▼ -1.3% vs 2021lowest in 5 years
2023: €22k▲ +8.0% vs 2022
2024: €22k▼ -0.3% vs 2023
2025: €22k▲ +0.3% vs 2024highest in 5 years
Operating result€13k-€13k▼ 2.5%€9k▼ 33.2%€4k▼ 54.1%€11k▲ 188%
2021: €13khighest in 5 years
2022: €13k▼ -2.5% vs 2021
2023: €9k▼ -33.2% vs 2022
2024: €4k▼ -54.1% vs 2023lowest in 5 years
2025: €11k▲ +188% vs 2024
Net result€9k-€7k▼ 20.8%€2k▼ 76.1%€22▼ 98.6%€75▲ 236%
2021: €9khighest in 5 years
2022: €7k▼ -20.8% vs 2021
2023: €2k▼ -76.1% vs 2022
2024: €22▼ -98.6% vs 2023lowest in 5 years
2025: €75▲ +236% vs 2024
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 188% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €241k
Fixed assets
€5k ▼ 19.4%
Current assets
€236k ▲ 66.8%
Equity and liabilities €241k
Equity
€22k ▲ 0.3%
Debt
€219k ▲ 74.4%
Debt's share of the balance-sheet total rises from 85.1% to 90.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€14k▲
2024 · €7k
Cash flow
€2k▼
2024 · €3k
Current ratio
1.08▼
2024 · 1.13
Debt to equity
9.90▲
2024 · 5.69
ROE
0.3%▲
2024 · 0.1%
ROA
0.0%▲
2024 · 0.0%
Interest coverage
1.95▼
2024 · 13.72
Debt ≤ 1 year
€219k▲
2024 · €125k
Income taxes
€4k▲
2024 · €3k
Staff costs
€358k▲
2024 · €250k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€147k€241k▲
Fixed assets21/28€6k€5k▼
Tangible fixed assets22/27€6k€5k▼
Furniture and vehicles24€6k€5k▼
Current assets29/58€142k€236k▲
Amounts receivable within one year40/41€84k€140k▲
Trade receivables40€83k€139k▲
Other amounts receivable41€1k€958▼
Cash at bank and in hand54/58€57k€96k▲
Deferred charges and accrued income490/1€677€0▼
Equity and liabilities
Total equity and liabilities10/49€147k€241k▲
Equity10/15€22k€22k▲
Contributions10/11€19k€19k=
Reserves13€3k€4k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€2k€2k▲
Amounts payable17/49€125k€219k▲
Amounts payable within one year42/48€125k€219k▲
Trade debts44€94k€181k▲
Suppliers440/4€94k€181k▲
Taxes, remuneration and social security45€31k€37k▲
Taxes450/3€3k€4k▲
Remuneration and social security454/9€28k€33k▲
Income statement
Code20242025
Non-recurring operating income76A€8k€0▼
Remuneration, social security and pensions62€250k€358k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€2k▼
Other operating charges640/8€505€520▲
Non-recurring operating charges66A€9k€551▼
Gross operating margin9900€266k€372k▲
Operating profit (loss)9901€4k€11k▲
Financial income75/76B-€0
Recurring financial income75-€0
Financial charges65/66B€479€7k▲
Recurring financial charges65€479€7k▲
Profit (loss) for the period before taxes9903€3k€4k▲
Income taxes67/77€3k€4k▲
Profit (loss) for the period9904€22€75▲
Profit (loss) for the period to be appropriated9905€22€75▲
Appropriation of the result
Profit (loss) to be appropriated9906€22€75▲
Transfer from equity791/2-€2k
Transfer to equity691/2€22€2k▲
To other reserves6921€22€2k▲
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €8k | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | €98k | €106k | €160k | €250k | €358k | ▲ 42.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €488 | €1k | €2k | €3k | €2k | ▼ 9.2% |
| Other operating charges640/8 | €1k | €752 | €906 | €505 | €520 | ▲ 2.8% |
| Non-recurring operating charges66A | - | - | - | €9k | €551 | ▼ 93.7% |
| Gross operating margin9900 | €113k | €121k | €171k | €266k | €372k | ▲ 39.9% |
| Operating profit (loss)9901 | €13k | €13k | €9k | €4k | €11k | ▲ 188% |
| Financial income75/76B | €0 | - | - | - | €0 | - |
| Recurring financial income75 | €0 | - | - | - | €0 | - |
| Financial charges65/66B | €723 | €1k | €1k | €479 | €7k | ▲ 1,372% |
| Recurring financial charges65 | €723 | €1k | €1k | €479 | €7k | ▲ 1,372% |
| Profit (loss) for the period before taxes9903 | €12k | €12k | €8k | €3k | €4k | ▲ 24.6% |
| Income taxes67/77 | €4k | €5k | €6k | €3k | €4k | ▲ 23.3% |
| Profit (loss) for the period9904 | €9k | €7k | €2k | €22 | €75 | ▲ 236% |
| Profit (loss) for the period to be appropriated9905 | €9k | €7k | €2k | €22 | €75 | ▲ 236% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €158k | €146k | €179k | €147k | €241k | ▲ 63.3% |
| Fixed assets21/28 | €916 | €4k | €9k | €6k | €5k | ▼ 19.4% |
| Tangible fixed assets22/27 | €916 | €4k | €9k | €6k | €5k | ▼ 19.4% |
| Furniture and vehicles24 | €916 | €4k | €9k | €6k | €5k | ▼ 19.4% |
| Current assets29/58 | €157k | €142k | €170k | €142k | €236k | ▲ 66.8% |
| Amounts receivable within one year40/41 | €75k | €79k | €60k | €84k | €140k | ▲ 66.6% |
| Trade receivables40 | €51k | €72k | €58k | €83k | €139k | ▲ 68.3% |
| Other amounts receivable41 | €24k | €7k | €2k | €1k | €958 | ▼ 31.8% |
| Cash at bank and in hand54/58 | €83k | €63k | €110k | €57k | €96k | ▲ 69.1% |
| Deferred charges and accrued income490/1 | €122 | €0 | - | €677 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €158k | €146k | €179k | €147k | €241k | ▲ 63.3% |
| Equity10/15 | €21k | €20k | €22k | €22k | €22k | ▲ 0.3% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2k | €2k | €3k | €3k | €4k | ▲ 2.2% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €0 | - | €2k | €2k | €2k | ▲ 4.8% |
| Profit (loss) carried forward14 | €273 | €0 | €85 | - | - | - |
| Amounts payable17/49 | €138k | €126k | €156k | €125k | €219k | ▲ 74.4% |
| Amounts payable within one year42/48 | €71k | €126k | €156k | €125k | €219k | ▲ 74.4% |
| Financial debts43 | €14k | €0 | - | - | - | - |
| Credit institutions430/8 | €14k | €0 | - | - | - | - |
| Trade debts44 | €33k | €105k | €133k | €94k | €181k | ▲ 92.2% |
| Suppliers440/4 | €33k | €105k | €133k | €94k | €181k | ▲ 92.2% |
| Taxes, remuneration and social security45 | €15k | €14k | €23k | €31k | €37k | ▲ 20.2% |
| Taxes450/3 | €2k | €793 | €4k | €3k | €4k | ▲ 38.9% |
| Remuneration and social security454/9 | €12k | €13k | €19k | €28k | €33k | ▲ 18.2% |
| Other amounts payable47/48 | €9k | €7k | €0 | - | - | - |
| Accrued charges and deferred income492/3 | €67k | €0 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9k | €7k | €2k | €22 | €75 | ▲ 236% |
| + Depreciation and write-downs630 | €488 | €1k | €2k | €3k | €2k | ▼ 9.2% |
| Operating cash flow (approximation) | €9k | €8k | €4k | €3k | €2k | ▼ 7.1% |
| Investment in fixed assets (approximation) | - | €-4k | €-6k | €0 | €-1k | - |
| Change in cash | - | €-20k | €48k | €-54k | €39k | ▲ 173% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
17-09
State Gazette act
Appointment: MINERVA GROEP (director)Permanent representatives: Alexander Verleysen and Ludovic Mertens · Resignation: DNF GROUP (director)5 facts ▸
State Gazette act
Appointment: MINERVA GROEP (director)
Permanent representatives: Alexander Verleysen and Ludovic Mertens · Resignation: DNF GROUP (director)5 facts ▸
- General meeting, 30-06-2026
- Director appointment, MINERVA GROEP (director)
- Permanent representative, Alexander Verleysen (permanent representative)
- Director resignation, DNF GROUP (director)
- Permanent representative, Ludovic Mertens (permanent representative)
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €22 ▼98.6%
Net result drops to €22, the lowest in the series; recovery starts the following year.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
02-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
16-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
06-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
05-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 10 acts read
About the unread acts
Of the 10 Belgian State Gazette acts we know for this company, 1 has been read. The other 9 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
MINERVA GROEP
CurrentDirector · since 30-06-2026 · Private limited company · perm. rep.: Alexander Verleysen
30-06-2026
MINERVA GROEP: Appointed as Director
30-06-2026
DNF GROUP: Resigned as Director
Not every act has been read: a resignation may be missing here
9 of this company's 10 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, Antwerpen · 1 establishment unit since 2011
Ground area
3,873 m²
Building footprint
1,078 m²
Volume, LiDAR
17,712 m³
Parcel 11810K0015/00B003, Flanders · tallest building 21.7 m, ±6 floors. Linked by address, not a title deed.
11
companies at this address
See who is registered here
1 establishment unit
DnFNOT
since 20112.203.380.734
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11810K0015/00B003 | Flanders | 3,873 m² | 1 · 1,078 m² | 21.7 m · 6 fl. |
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.
Structure & network
Connections & network
3 connected companiesThis company
Company
Director
Shareholding
Click a node to look further, drag to arrange, scroll to zoom.
Linked via shared directors
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Public money · subsidies and aid
Flemish government
2023 to 2025 · 3 entries · 1,440 EUR awarded · 1,080 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 360 EUR | 0 EUR |
| 2024 | 1 | 825 EUR | 1,080 EUR |
| 2023 | 1 | 255 EUR | 0 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 12,173 companies in sector 69201 we hold annual accounts for 7,638. 4,593 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded04-10-2011
Fiscal year end31-12
Activities, NACEBEL 2025
69201Certified accountants and tax accountants
Scores and ratios are computed by Checked and are not a credit decision.