Dendermonde Solar Energy
ActiveSummary
Dendermonde Solar Energy has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.74M and a net result of €66k. Equity remains stable across the filed fiscal years (±2.3% per year). Its solvency ranks better than 84% of 279 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability82▲+6
Solvency100▲+8
Growth48▲+5
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45k at 30 days acceptable
Liquidity ample (current ratio 2.89 against 2.76 in 2024; short-term debt: 15.1% and cash: 7.6% of total assets), and 25.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 35
Relative position
BE, all sectors
reference
Electricity, gas, steam and air conditioning supply (NACE 35)
about 42% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
74.6%
Return on assets
2.8%
Age of the figures
9 mo
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
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 21-05-2026, 71 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
71 d early
2024
76 d early
2023
21 d early
2022
3 d early
2021
19 d early
2020
80 d late
2019
92 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, abbreviated schema
Turnover
€455k▲ 19.8%
2024 · €380k
2020: €427k
2021: €396k▼ -7.2% vs 2020
2022: €489k▲ +23.3% vs 2021highest in 6 years
2023: €423k▼ -13.4% vs 2022
2024: €380k▼ -10.2% vs 2023lowest in 6 years
2025: €455k▲ +19.8% vs 2024
2020 → 2025
EBIT margin
27.9%▲ 17.0pp
2024 · 10.9%
2020: 38.0%highest in 6 years
2021: 18.6%▼ -51.0% vs 2020
2022: 30.5%▲ +63.8% vs 2021
2023: 17.8%▼ -41.7% vs 2022
2024: 10.9%▼ -38.7% vs 2023lowest in 6 years
2025: 27.9%▲ +156% vs 2024
2020 → 2025
Net result
€66k▲ 190%
2024 · €23k
2018: €96k
2019: €99k▲ +2.9% vs 2018highest in 8 years
2020: €49k▼ -50.8% vs 2019
2021: €21k▼ -57.5% vs 2020
2022: €72k▲ +247% vs 2021
2023: €10k▼ -85.5% vs 2022lowest in 8 years
2024: €23k▲ +118% vs 2023
2025: €66k▲ +190% vs 2024
2018 → 2025
Working capital
€665k▲ 11.8%
2024 · €595k
2018: €-33k
2019: €-65k▼ -99.4% vs 2018lowest in 8 years
2020: €531k▲ +912% vs 2019
2021: €547k▲ +3.1% vs 2020
2022: €553k▲ +1.1% vs 2021
2023: €568k▲ +2.6% vs 2022
2024: €595k▲ +4.7% vs 2023
2025: €665k▲ +11.8% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€396k-€489k▲ 23.3%€423k▼ 13.4%€380k▼ 10.2%€455k▲ 19.8%
2021: €396k
2022: €489k▲ +23.3% vs 2021highest in 5 years
2023: €423k▼ -13.4% vs 2022
2024: €380k▼ -10.2% vs 2023lowest in 5 years
2025: €455k▲ +19.8% vs 2024
Equity€1.64M-€1.64M▲ 0.1%€1.65M▲ 0.6%€1.67M▲ 1.4%€1.74M▲ 4.0%
2021: €1.64Mlowest in 5 years
2022: €1.64M▲ +0.1% vs 2021
2023: €1.65M▲ +0.6% vs 2022
2024: €1.67M▲ +1.4% vs 2023
2025: €1.74M▲ +4.0% vs 2024highest in 5 years
Operating result€74k-€149k▲ 102%€75k▼ 49.5%€41k▼ 44.9%€127k▲ 207%
2021: €74k
2022: €149k▲ +102% vs 2021highest in 5 years
2023: €75k▼ -49.5% vs 2022
2024: €41k▼ -44.9% vs 2023lowest in 5 years
2025: €127k▲ +207% vs 2024
Net result€21k-€72k▲ 247%€10k▼ 85.5%€23k▲ 118%€66k▲ 190%
2021: €21k
2022: €72k▲ +247% vs 2021highest in 5 years
2023: €10k▼ -85.5% vs 2022lowest in 5 years
2024: €23k▲ +118% vs 2023
2025: €66k▲ +190% 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 207% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.33M
Fixed assets
€1.31M ▼ 15.1%
Current assets
€1.02M ▲ 9.0%
Equity and liabilities €2.33M
Equity
€1.74M ▲ 4.0%
Debt
€593k ▼ 26.7%
Debt's share of the balance-sheet total falls from 32.6% to 25.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€361k▲
2024 · €275k
Cash flow
€300k▲
2024 · €257k
Current ratio
2.89▲
2024 · 2.76
Debt to equity
0.34▼
2024 · 0.48
ROE
3.8%▲
2024 · 1.4%
ROA
2.8%▲
2024 · 0.9%
Interest coverage
11.34▲
2024 · 5.28
Debt ≤ 1 year
€352k▲
2024 · €338k
Debt > 1 year
€241k▼
2024 · €470k
Income taxes
€67k▲
2024 · €8k
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 · 42 lines
Balance sheet
Code20242025
Assets
Total assets20/58€2.48M€2.33M▼
Formation expenses20€4k€2k▼
Fixed assets21/28€1.54M€1.31M▼
Tangible fixed assets22/27€1.54M€1.31M▼
Plant, machinery and equipment23€1.54M€1.31M▼
Current assets29/58€933k€1.02M▲
Amounts receivable within one year40/41€886k€840k▼
Trade receivables40€22k€23k▲
Other amounts receivable41€865k€816k▼
Cash at bank and in hand54/58€47k€178k▲
Equity and liabilities
Total equity and liabilities10/49€2.48M€2.33M▼
Equity10/15€1.67M€1.74M▲
Contributions10/11€640k€640k=
Revaluation surpluses12€522k€447k▼
Reserves13€407k€481k▲
Distributable reserves133€407k€481k▲
Profit (loss) carried forward14€102k€168k▲
Amounts payable17/49€809k€593k▼
Amounts payable after more than one year17€470k€241k▼
Financial debts170/4€470k€241k▼
Amounts payable within one year42/48€338k€352k▲
Current portion of amounts payable after more than one year42€230k€230k=
Trade debts44€83k€94k▲
Suppliers440/4€83k€94k▲
Taxes, remuneration and social security45€26k€29k▲
Taxes450/3€26k€29k▲
Income statement
Code20242025
Turnover70€380k€455k▲
Goods, raw materials, services and sundry goods60/61€103k€92k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€234k€234k=
Other operating charges640/8€2k€2k▲
Gross operating margin9900€277k€363k▲
Operating profit (loss)9901€41k€127k▲
Financial income75/76B€41k€38k▼
Recurring financial income75€41k€38k▼
Financial charges65/66B€52k€32k▼
Recurring financial charges65€52k€32k▼
Profit (loss) for the period before taxes9903€30k€133k▲
Income taxes67/77€8k€67k▲
Profit (loss) for the period9904€23k€66k▲
Profit (loss) for the period to be appropriated9905€23k€66k▲
Appropriation of the result
Profit (loss) to be appropriated9906€102k€168k▲
Profit (loss) brought forward from the previous period14P€79k€102k▲
The notes to these accounts (15 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €396k | €489k | €423k | €380k | €455k | ▲ 19.8% |
| Goods, raw materials, services and sundry goods60/61 | €81k | €98k | €106k | €103k | €92k | ▼ 10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €234k | €234k | €234k | €234k | €234k | = |
| Other operating charges640/8 | €8k | €8k | €8k | €2k | €2k | ▲ 0.9% |
| Gross operating margin9900 | €315k | €391k | €317k | €277k | €363k | ▲ 30.9% |
| Operating profit (loss)9901 | €74k | €149k | €75k | €41k | €127k | ▲ 207% |
| Financial income75/76B | €29k | €31k | €31k | €41k | €38k | ▼ 7.2% |
| Recurring financial income75 | €29k | €31k | €31k | €41k | €38k | ▼ 7.2% |
| Financial charges65/66B | €51k | €56k | €65k | €52k | €32k | ▼ 39.0% |
| Recurring financial charges65 | €51k | €56k | €65k | €52k | €32k | ▼ 39.0% |
| Profit (loss) for the period before taxes9903 | €52k | €124k | €41k | €30k | €133k | ▲ 340% |
| Income taxes67/77 | €32k | €52k | €30k | €8k | €67k | ▲ 788% |
| Profit (loss) for the period9904 | €21k | €72k | €10k | €23k | €66k | ▲ 190% |
| Profit (loss) for the period to be appropriated9905 | €21k | €72k | €10k | €23k | €66k | ▲ 190% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.17M | €2.93M | €2.69M | €2.48M | €2.33M | ▼ 6.0% |
| Formation expenses20 | €9k | €7k | €6k | €4k | €2k | ▼ 39.7% |
| Fixed assets21/28 | €2.24M | €2.01M | €1.77M | €1.54M | €1.31M | ▼ 15.1% |
| Tangible fixed assets22/27 | €2.24M | €2.01M | €1.77M | €1.54M | €1.31M | ▼ 15.1% |
| Plant, machinery and equipment23 | €2.24M | €2.01M | €1.77M | €1.54M | €1.31M | ▼ 15.1% |
| Current assets29/58 | €927k | €912k | €915k | €933k | €1.02M | ▲ 9.0% |
| Amounts receivable within one year40/41 | €927k | €862k | €900k | €886k | €840k | ▼ 5.3% |
| Trade receivables40 | €118k | €22k | €29k | €22k | €23k | ▲ 5.9% |
| Other amounts receivable41 | €809k | €840k | €871k | €865k | €816k | ▼ 5.6% |
| Cash at bank and in hand54/58 | - | €51k | €15k | €47k | €178k | ▲ 279% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.17M | €2.93M | €2.69M | €2.48M | €2.33M | ▼ 6.0% |
| Equity10/15 | €1.64M | €1.64M | €1.65M | €1.67M | €1.74M | ▲ 4.0% |
| Contributions10/11 | €640k | €640k | €640k | €640k | €640k | = |
| Revaluation surpluses12 | €746k | €671k | €597k | €522k | €447k | ▼ 14.3% |
| Reserves13 | €183k | €258k | €332k | €407k | €481k | ▲ 18.3% |
| Non-distributable reserves130/1 | €34k | €34k | - | - | - | - |
| Reserves not available under the articles1311 | €34k | €34k | - | - | - | - |
| Distributable reserves133 | €149k | €224k | €332k | €407k | €481k | ▲ 18.3% |
| Profit (loss) carried forward14 | €67k | €68k | €79k | €102k | €168k | ▲ 64.9% |
| Amounts payable17/49 | €1.54M | €1.29M | €1.05M | €809k | €593k | ▼ 26.7% |
| Amounts payable after more than one year17 | €1.16M | €930k | €700k | €470k | €241k | ▼ 48.8% |
| Financial debts170/4 | €1.16M | €930k | €700k | €470k | €241k | ▼ 48.8% |
| Amounts payable within one year42/48 | €380k | €359k | €347k | €338k | €352k | ▲ 4.1% |
| Current portion of amounts payable after more than one year42 | €230k | €230k | €230k | €230k | €230k | = |
| Financial debts43 | €35k | - | - | - | - | - |
| Credit institutions430/8 | €35k | - | - | - | - | - |
| Trade debts44 | €76k | €54k | €89k | €83k | €94k | ▲ 13.0% |
| Suppliers440/4 | €76k | €54k | €89k | €83k | €94k | ▲ 13.0% |
| Taxes, remuneration and social security45 | €40k | €5k | €24k | €26k | €29k | ▲ 11.4% |
| Taxes450/3 | €40k | €5k | €24k | €26k | €29k | ▲ 11.4% |
| Other amounts payable47/48 | - | €70k | €4k | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21k | €72k | €10k | €23k | €66k | ▲ 190% |
| + Depreciation and write-downs630 | €234k | €234k | €234k | €234k | €234k | = |
| Operating cash flow (approximation) | €254k | €306k | €244k | €257k | €300k | ▲ 16.8% |
| Investment in fixed assets (approximation) | - | €-2k | €-2k | €-2k | €-2k | = |
| Change in cash | - | - | €-36k | €32k | €131k | ▲ 311% |
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
21-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
16-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €10k ▼85.5%
Net result drops to €10k, the lowest in the series; recovery starts the following year.
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
19-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 80 days late
2020
31-12
Financial
Liquidity triplescurrent ratio 2.37
Current ratio from 0.84 to 2.37; short-term debt falls from €397k to €387k.
31-12
Financial
Equity above €1MEq €1.61M ▲141%
3 profitable years in a row build equity to €1.61M.
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €99k ▲2.9%
Operating result €215k, net result €99k, both a record.
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
19-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
29-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
9 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Heusden-Zolder · 1 establishment unit since 2011
Ground area
3,741 m²
Building footprint
1,634 m²
Parcel 71065B1051/00M000, Flanders. Linked by address, not a title deed.
1 establishment unit
Dendermonde Solar Energy
since 20112.204.815.740
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71065B1051/00M000 | Flanders | 3,741 m² | 1 · 1,634 m² | - |
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
Ownership & control
1 parent companyControl over this companyparent company per the LEI register1
Brussel
controls
Dendermonde Solar EnergyBE 0837.014.285
Recognitions · licences · registrations
Legal Entity Identifier
5299008XMVG8Y3CKZS50
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Of 814 companies in sector 35110 we hold annual accounts for 630. 408 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
Founded16-06-2011
Fiscal year end31-12
Abbreviation NL
DMD SE
Activities, NACEBEL 2025
35110Production of electricity from non-renewable sources
35130Electricity, gas, steam and air conditioning supply
35150Electricity, gas, steam and air conditioning supply
Scores and ratios are computed by Checked and are not a credit decision.