DS DISTRIBUTION · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of DS DISTRIBUTION is 0.8% (low). The 2025 annual accounts show equity of €1k and a net result of €366. Equity is growing by ~26.9% per year across the filed fiscal years. Its solvency ranks better than 25% of 242 sector peers (fiscal year 2025). The company has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 7 annual accounts.

Signals

1 signal · with evidence

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 25% of 242 sector peers (2025).

View the sector comparison

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Filed after the deadline

The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 30-11-2025, 30 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.

The next deadline is still running

The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.

How we compute the deadline

The year end is derived from 10 filed financial years, each closing on 31-03. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-03-2025, that is 31-10-2025.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-03-2025	31-10-2025	30-11-2025	30 d late	2025-00573201
31-03-2024	31-10-2024	30-11-2024	30 d late	2024-00607219
31-03-2023	31-10-2023	30-11-2023	30 d late	2023-00519201
31-03-2022	31-10-2022	30-11-2022	30 d late	2022-20528332
31-03-2021	31-10-2021	03-11-2021	3 d late	2021-76500130
31-03-2020	31-10-2020	30-11-2020	30 d late	2020-73500058
31-03-2019	31-10-2019	29-11-2019	29 d late	2019-74900050
31-03-2018	31-10-2018	30-11-2018	30 d late	2018-73500271
31-03-2017	31-10-2017	30-11-2017	30 d late	2017-70900476
31-03-2016	31-10-2016	30-11-2016	30 d late	2016-69100217

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

Established

Founded in 2011, 15 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

0.8% Low

0%0,5%1,5%4%10%≥25%

Higher-failure-rate sector +Long track record −Higher-failure-rate region +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€366

Working capital€-80k-6.3%

CSV export

Annual accounts & ratios

Source: NBB · 2025

Annual accounts filed on 30-11-2025 with the NBB · fiscal year 2025 · volledig

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~26.9%/year over 7 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 47, Retail trade · compared within the same schema type (full schema)

Metric	This company	Sector median	Position in the sector
Solvency	0.5%	13.8%	better than 25% of 242 sector peers
Net result	€366	€19k	better than 37% of 242 sector peers
Equity	€1k	€94k	better than 25% of 242 sector peers
Gross operating margin	€195k	€319k	better than 34% of 214 sector peers
Staff costs	€153k	€279k	higher than 30% of 214 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P25

Stable position over 2020-2025 · n=242-866

Net result P37

Weakening position over 2020-2025 · n=242-867

Equity P25

Stable position over 2020-2025 · n=242-868

Gross operating margin P34

Weakening position over 2020-2025 · n=214-794

Describes the position versus peers, not a forecast.

EBITDA

€40k

+308.1% 19-25

Net profit

€366

- 19-25

Cash flow

€24k

- 19-25

Total assets

€310k

-11.3% 19-25

Equity

€1k

+33.7% 19-25

Working capital

€-80k

-6.3% 19-25

Employees (FTE)

7

+34.6% 19-25

Staff costs

€153k

-0.4% 19-25

Income taxes

€451

+45.5% 19-25

Debt

€308k

-11.4% 19-25

Debt ≤ 1y

€277k

-3.9% 19-25

Debt > 1y

€31k

-47.6% 19-25

Current ratio

0.71

-3.8% 19-25

Quick ratio

0.30

-11.0% 19-25

Solvency

0.5%

+50.7% 19-25

Debt / equity

212.02

-33.7% 19-25

ROE

25.2%

- 19-25

ROA

0.1%

- 19-25

Interest coverage

2.26

+207.9% 19-25

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Deposit	volledig
Revenue	-
EBITDA	€40k
Net profit	€366
Cash flow	€24k
Staff costs	€153k
Income taxes	€451
Dividends	-
Total assets	€310k
Equity	€1k
Debt	€308k
of which ≤ 1y	€277k
of which > 1y	€31k
Working capital	€-80k
Employees (FTE)	7.0

Ratios (computed)

	2025
Current ratio	0.71
Quick ratio	0.30
Working capital ratio	-25.9%
Solvency	0.5%
Debt / equity	212.02
Long-term debt ratio	21.48
Interest coverage	2.26
Gross margin	-
Net margin	-
ROA	0.1%
ROE	25.2%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €113k · 36.5% Current assets €197k · 63.5%

Equity & liabilities

Equity €1k · 0.5% Debt €308k · 99.5%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€310k
Fixed assets	21/28	€113k
Tangible fixed assets	22/27	€108k
Financial fixed assets	28	€5k
Current assets	29/58	€197k
Stocks & contracts in progress	3	€115k
Amounts receivable within one year	40/41	€24k
Investments	50/53	€3
Cash & bank	54/58	€29k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€310k
Equity	10/15	€1k
Contributions / capital	10/11	€20k
Reserves	13	€27k
Accumulated profits (losses)	14	€-46k
Amounts payable	17/49	€308k
Amounts payable after one year	17	€31k
Amounts payable within one year	42/48	€277k
Trade debts payable within one year	44	€227k
Income statement
Gross operating margin	9900	€195k
Operating result	9901	€17k
Financial income	75	€2k
Financial charges	65	€18k
Result before taxes	9903	€817
Income taxes	67/77	€451
Net result for the period	9904	€366
Result to be appropriated	9905	€366

You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2025 · computed

46 / 100 Fair

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

from the Crossroads Bank

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Rue Laschet 164852 Plombières

Establishment units

1 location

Carrefour Express Bastogne (DS Distribution)

Rue du Vivier 48, 6600 BastogneDetailhandel in niet-gespecialiseerde winkels waarbij voedings- en genotmiddelen overheersen (verkoopsoppervlakte tussen 400 m² en minder dan 2500 m²)

since 20112.197.252.413

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels2

Ground area1,508 m²

Buildings2

Building footprint293 m²

Volume (LiDAR)2,676 m³

Tallest building17.7 m · ±4 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Wallonia 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
63037A0916/00W000	Wallonia	1,029 m²	1 · 132 m²	8.7 m · 2 fl.
82302B1010/00D000	Wallonia	478 m²	1 · 160 m²	17.7 m · 4 fl.

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgian State Gazette · acts

No structured acts for this company yet

That means one of two things: the company has published no company deeds, or its deeds are still queued for reading. The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.

Analysis

Snowflake analysis

financial profile on 5 axes

66 / 100

Strong profile, led by profitability.

All 5 axes are computed from data Checked has read.

Health 46

Profitability 100

Solvency 5

Growth 78

Stability 100

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Credit advice

verdict per customer and amount

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We hold annual accounts for 1,627 of the 10,430 companies in this sector. 468 of them are within a factor 10 of this company's equity.

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Company registry

Company registry (CBE)

Crossroads Bank

Activities

Niet-gespecialiseerde detailhandel waarbij voedings- en genotmiddelen overheersen47110Detailhandel in niet-gespecialiseerde winkels waarbij voedings- en genotmiddelen overheersen (verkoopsoppervlakte tussen 100 m² en minder dan 400 m²)47113

Primary activity highlighted.

Names & trade names

Legal nameFR

DS DISTRIBUTION

Registered office

Rue Laschet 16

4852 Plombières, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.