Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 15 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 66.1 to 49.2.
Financials
Financial year 2025
DIRESCO from Oudsbergen, company number BE0422798650, closed financial year 2025 with a result of € -2 million after tax. For that financial year DIRESCO recorded revenue of € 9.1 million and equity of € 1.6 million. Compared with financial year 2024, the result moved from € -4 million to € -2 million. The company made a loss. The buffer shrank hard: equity is 57 % below last year. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 29, 2026.
€ 1.6 million
▼ 57% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -2 million
▲ 49 % less loss than in 2024
Profit after tax over the fiscal year.
€ 382,088
▼ 85% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -4.4 million.
People and assets in 2025
49.2
▼ 5.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 2.9 million
▼ 9% vs 2024
€ 58,600 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 62,685
▼ 54% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 8.2 million
▼ 2% vs 2024
€ 256,669 is repaid this year. At this pace the long-term loan is gone in ≈ 13 years.
€ 1.2 million
▼ 41% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 62 days on average.
€ 555,732
▼ 15% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 20,560,518 | € 14,523,040 | € 10,908,309 | € 9,124,488 | ▼ 16% |
| Profit after taxes | € 1,740,575 | € 2,724 | € -3,955,305 | € -2,003,288 | ▲ € 2 million |
| Equity | € 7,331,011 | € 7,226,397 | € 3,613,772 | € 1,559,138 | ▼ 57% |
| Total debts | € 9,662,529 | € 9,190,931 | € 12,644,449 | € 11,386,848 | ▼ 10% |
| Cash | € 1,396,711 | € 1,092,347 | € 2,582,905 | € 382,088 | ▼ 85% |
| Land & buildings | € 1,472,677 | € 1,201,013 | € 935,583 | € 721,818 | ▼ 23% |
| Retained profit | € 1,617,369 | € 1,520,093 | € -2,435,212 | € -4,438,500 | ▼ € 2 million |
| Dividend | € 2,350,000 | € 100,000 | € 0 | € 0 | |
| Bank debt | € 3,526,473 | € 5,011,881 | € 8,349,037 | € 8,206,801 | ▼ 2% |
| Balance sheet total | € 16,993,873 | € 16,417,328 | € 16,258,221 | € 12,945,985 | ▼ 20% |
| Employees (FTE) | 75.8 | 66.1 | 54.7 | 49.2 | ▼ 5.5 |
Key figures of DIRESCO, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to DIRESCO?
What happened at DIRESCO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Quartz Holding NV stepped down as director. NBB
- DIRINVEST NV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 2 million. Source: NBB ↗
- Ruth De Wulf stepped down as director. NBB
- CREAFUND NV stepped down as director. NBB
- CREAFUND ASSET MANAGEMENT NV stepped down as director. NBB
- Quartz Holding NV became a director. NBB
- Ruth De Wulf became a director. NBB
In short
From € 1.7 million profit in 2022 to € 2 million loss in 2025.
Paid € 534,108 in corporate taxes since 2022.
Best year ever: 2022, with € 1.7 million profit.
Paid out € 2.5 million in dividends to the owners in total.
Management
The shares are held by Quartz Holding NV (100%).
Directors
According to the 2025 annual accounts
Director · represented by Joke Segers
since 2023 · until 2029
Ruth De Wulf
Director
Also active at: Beddeleem, COEMAN PACKAGING, Purna Pharmaceuticals, SOFICS, Cu.be Solutions, MOBILE LOCKER, CREAFUND ASSET MANAGEMENT, Quartz Holding +9 more
since 2023 · until 2025
Director · represented by Herman Wielfaert
Also active at: COEMAN PACKAGING, CREALOAN, SOFICS, Cu.be Solutions, JOVEGI, MOBILE LOCKER, SOLFAR, Pulse +11 more
since 2023 · until 2025
Director · represented by Kenneth Depuydt
Also active at: Beddeleem, Purna Pharmaceuticals, CREALOAN, Cu.be Solutions, JOVEGI, MOBILE LOCKER, Quartz Holding, CARE INVESTCO +2 more
since 2023 · until 2025
Director · represented by Dirk Schelfhout
Owns 12.2% via Quartz Holding NV
Also active at: Quartz Holding
since 2023 · until 2029
Shareholders
Quartz Holding NV · holding of DIRINVEST NV
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Industrieweg-Noord 1134
3660 Oudsbergen
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0422.798.650
- VAT number
- BE 0422.798.650
- Registered office
- Industrieweg-Noord 1134, 3660 Oudsbergen
- Names & denominations
- DIRESCO
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 12 June 1982
- Peppol
- Active · Active since 23 Dec 2025
- Activities · NACE
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