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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Negative equity NBB
More debt than assets in 3 of the last 4 fiscal years.
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Tight liquidity NBB
Cash and receivables cover 6 % of short-term debt in 2024; threshold 65 %.
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Figures corrected NBB
Corrected annual account filed for 2021.
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Late annual account NBB
Fiscal year 2024 was filed 202 days after the legal deadline.
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Busy address KBO
10 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2024
DEM GROUP from Waterloo, company number BE0443271489, closed financial year 2024 with a result of € 621,876 after tax. Compared with financial year 2023, the result moved from € -3 million to € 621,876. Profitable, and profit is growing. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on February 18, 2026.
€ -14.3 million
▲ € 621,876 vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 621,876
▲ still € 3 million loss in 2023
Profit after tax over the fiscal year.
€ 326,865
▲ € 272,675 vs 2023
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2024. Retained profit grew to € -40.7 million.
People and assets in 2024
€ 1,713
▼ 99% vs 2023
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
Debts at end 2024
None
No bank loans on the last day of the fiscal year.
€ 602,897
▼ 51% vs 2023
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 327 days on average.
€ 3,100
▼ 98% vs 2023
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2021 | 2022 | 2023 | 2024 | Change 2023 → 2024 | |
|---|---|---|---|---|---|
| Revenue | € 64,218,641 | € 52,417,025 | € 1,005,962 | - | |
| Profit after taxes | € -19,463,560 | € -20,254,169 | € -2,984,471 | € 621,876 | ▲ € 3.6 million |
| Equity | € 2,165,783 | € -11,917,829 | € -14,902,300 | € -14,280,423 | ▲ € 621,876 |
| Total debts | € 81,459,522 | € 27,513,771 | € 18,209,009 | € 15,400,554 | ▼ 15% |
| Cash | € 2,863,997 | € 396,363 | € 54,190 | € 326,865 | ▲ € 272,675 |
| Land & buildings | - | € 1,117,488 | € 0 | - | |
| Retained profit | € -19,541,918 | € -38,318,611 | € -41,303,081 | € -40,681,205 | ▲ € 621,876 |
| Bank debt | € 7,803,062 | € 2,516,451 | € 0 | € 0 | |
| Balance sheet total | € 83,625,305 | € 15,850,703 | € 4,261,471 | € 1,370,130 | ▼ 68% |
| Employees (FTE) | 30.3 | 16.1 | 2 | - |
Key figures of DEM GROUP, fiscal years 2021 to 2024, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2025 has not been filed yet; it was expected before 31 July 2026.
What happened to DEM GROUP?
What happened at DEM GROUP in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Harold Wouters stepped down as director. NBB
- Benoît Philippart de Foy stepped down as director. NBB
- Philippe de Moerloose stepped down as director. NBB
- New annual accounts for financial year 2024: profit of € 621,876. filed late Source: NBB ↗
- Harold Wouters became a director. NBB
- Benoît Philippart de Foy became a director. NBB
- Philippe de Moerloose became a director. NBB
- New establishment in Waterloo. KBO
In short
From € 19.5 million loss in 2021 to € 621,876 profit in 2024.
Paid € 37,192 in corporate taxes since 2021.
Best year ever: 2024, with € 621,876 profit.
Management
It owns 100% of DEM Cameroun SARLU, 100% of DEM Guinée SARLU, 100% of DEM Equipment Ghana Ltd, 100% of DEM Côte d'Ivoire SARLU, 100% of DEM Congo SARL and 100% of DEM Equipment Mauritius Ltd itself.
Directors
According to the 2024 annual accounts
Harold Wouters
Director
since 2023 · until 2027
Philippe de Moerloose
Director
since 2021 · until 2027
Benoît Philippart de Foy
Director
Also active at: COMEXAS AIRFREIGHT, COMEXAS SEAFREIGHT, BENOIT PHILIPPART de FOY
since 2023 · until 2027
Establishments
Establishment units
Physical locations of this company
Drève Richelle 161 box 79
1410 Waterloo
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 10 companies are registered at this address.
All companies at this address →BELAIRBUS
B- FINANCES
€ -13,888 gross margin · 2025
BATIMELEC
€ 15,076 gross margin · 2024
INTERNATIONAL MONTAGE MAINTENANCE
€ 11.5 million revenue · 2025
H.A.B.S.
€ -18,903 gross margin · 2026
+5 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0443.271.489
- VAT number
- BE 0443.271.489
- Registered office
- Drève Richelle 161 bus 79, 1410 Waterloo
- Names & denominations
- DEM GROUP
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 8 March 1991
- Peppol
- Active · Active since 16 Dec 2025
- Activities · NACE
Groothandel in machines voor de mijnbouw, de bouwnijverheid en de weg- en waterbouw
Groothandel in motorvoertuigen
Groothandel in auto's en lichte bestelwagens (<= 3,5 ton)
Groothandel in andere machines en werktuigen, neg
Groothandel in auto's en lichte bestelwagens (= 3,5 ton)
Groothandel in andere machines en werktuigen, n.e.g.