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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Shrinking team NBB
FTE fell two years in a row, from 131.2 to 105.4.
Financials
Financial year 2025
Dovre from Ravels, company number BE0437960542, closed financial year 2025 with a result of € -2.4 million after tax. For that financial year Dovre recorded revenue of € 17.7 million and equity of € 9.3 million. Compared with financial year 2024, the result moved from € -2.3 million to € -2.4 million. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on December 22, 2025.
€ 9.3 million
▼ 21% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -2.4 million
▼ 5 % more loss than in 2024
Profit after tax over the fiscal year.
€ 381,262
▼ 2% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -5.1 million.
People and assets in 2025
105.4
▼ 19.6 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 6.3 million
▼ 18% vs 2024
€ 60,000 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.
€ 1.5 million
▼ 1% vs 2024
Of which on lease € 1.4 million.
Debts at end 2025
€ 7.4 million
▲ 113% vs 2024
€ 1.3 million is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 3 million
▲ 23% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 70 days on average.
€ 1.1 million
▲ 10% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 39,165,680 | € 53,492,294 | € 27,897,993 | € 17,690,827 | ▼ 37% |
| Profit after taxes | € 820,752 | € 7,260,482 | € -2,304,549 | € -2,412,720 | ▼ € 108,171 |
| Equity | € 6,736,714 | € 13,997,196 | € 11,692,647 | € 9,289,701 | ▼ 21% |
| Total debts | € 15,273,935 | € 12,721,961 | € 8,264,401 | € 12,978,587 | ▲ 57% |
| Cash | € 1,107,884 | € 1,721,386 | € 387,147 | € 381,262 | ▼ 2% |
| Land & buildings | € 1,106,139 | € 1,187,040 | € 1,686,771 | € 1,683,957 | |
| Retained profit | € -7,601,668 | € -341,186 | € -2,645,735 | € -5,058,455 | ▼ € 2.4 million |
| Bank debt | € 9,126,749 | € 3,880,820 | € 3,469,680 | € 7,403,673 | ▲ 113% |
| Balance sheet total | € 22,019,589 | € 26,719,157 | € 19,957,047 | € 22,507,427 | ▲ 13% |
| Employees (FTE) | 130.3 | 131.2 | 125 | 105.4 | ▼ 19.6 |
Key figures of Dovre, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 January 2027.
What happened to Dovre?
What happened at Dovre in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 2.4 million. Source: NBB ↗
- TGMAN BV stepped down as director. NBB
- TGMAN BV became a director. NBB
- New establishment in Ravels. KBO
- Start of the company according to the CBE. KBO
In short
From € 820,752 profit in 2022 to € 2.4 million loss in 2025.
Paid € 507,798 in corporate taxes since 2022.
Best year ever: 2023, with € 7.3 million profit.
Pays suppliers within 70 days on average.
Management
The stake of TGMAN comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
DovreThe shares are held by TGMAN (5.5%). It owns 99% of DHT itself.
Directors
According to the 2025 annual accounts
since 2019 · until 2025
Shareholders
5.5%
Participations
DHT
99%
Establishments
Establishment units
Physical locations of this company
Nijverheidsstraat 18
2381 Ravels
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 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.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
COMBELL-AS, BE
Website info
Features
Security
Details
- Company number
- 0437.960.542
- VAT number
- BE 0437.960.542
- Registered office
- Nijverheidsstraat 18, 2381 Ravels
- Names & denominations
- Dovre
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 13 July 1989
- Peppol
- Active · Active since 30 Dec 2025
- Contact
- dovre.be [email protected] 014659191
- Activities · NACE
Gieten van ijzer
Vervaardiging van ijzer en staal en van ferrolegeringen