Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 26 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
D-ESTATE from Menen, company number BE0828631408, closed financial year 2025 with a result of € 136,453 after tax. For that financial year D-ESTATE recorded revenue of € 2.6 million and equity of € 6.4 million. Compared with financial year 2024, the result moved from € 201,171 to € 136,453. The company is profitable. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on July 14, 2026.
€ 6.4 million
▲ 2% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 136,453
▼ 32% vs 2024
Profit after tax over the fiscal year.
€ 758,629
▲ 10% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 5.7 million.
People and assets in 2025
€ 24,314
▼ 22% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 10.5 million
▼ 4% vs 2024
€ 1.4 million is repaid this year. At this pace the long-term loan is gone in ≈ 7 years.
€ 910,526
▲ 65% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 407 days on average.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 2,766,114 | € 2,548,057 | € 2,497,411 | € 2,583,027 | ▲ 3% |
| Profit after taxes | € 964,544 | € 692,662 | € 201,171 | € 136,453 | ▼ 32% |
| Equity | € 12,132,526 | € 6,025,189 | € 6,226,360 | € 6,362,812 | ▲ 2% |
| Total debts | € 13,472,195 | € 17,670,956 | € 18,037,882 | € 15,184,078 | ▼ 16% |
| Cash | € 5,018,230 | € 417,039 | € 689,629 | € 758,629 | ▲ 10% |
| Land & buildings | € 13,888,374 | € 13,123,454 | € 14,622,368 | € 14,310,430 | ▼ 2% |
| Retained profit | € 11,441,562 | € 5,334,225 | € 5,535,396 | € 5,671,848 | ▲ 2% |
| Dividend | € 1,000,000 | € 6,800,000 | € 0 | € 0 | |
| Bank debt | € 11,829,258 | € 11,019,455 | € 10,871,657 | € 10,450,305 | ▼ 4% |
| Balance sheet total | € 25,918,731 | € 23,969,658 | € 24,497,258 | € 21,734,212 | ▼ 11% |
Key figures of D-ESTATE, 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 D-ESTATE?
What happened at D-ESTATE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Malexis BV stepped down as director. NBB
- The Veneer NV stepped down as director. NBB
- Lurinvest NV stepped down as director. NBB
- Todecom BV stepped down as director. NBB
- BV Dema Invest stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 136,453 (▼ 32% vs 2024). Source: NBB ↗
- Malexis BV became a director. NBB
- The Veneer NV became a director. NBB
In short
From € 964,544 profit in 2022 to € 136,453 profit in 2025.
Paid € 752,025 in corporate taxes since 2022.
Best year ever: 2022, with € 964,544 profit.
Paid out € 7.8 million in dividends to the owners in total.
Management
The stake of The Veneer comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
D-ESTATEThe shares are held by The Veneer (100%). It owns 100% of D-Warehouse itself.
Directors
According to the 2025 annual accounts
Director · represented by Silke Desmet
Also active at: DECOSPAN HOLDING, D-Warehouse, The Veneer, DECOSPAN
since 2025 · until 2031
Managing director · represented by Pieterjan Desmet
Also active at: DECOSPAN HOLDING, D-Warehouse, HEXAGON INVEST II, DECOSPAN
since 2025 · until 2031
Director · represented by Pieter Desmet
Also active at: DECOSPAN HOLDING, D-Warehouse, The Veneer, DECOSPAN
since 2025 · until 2031
Director · represented by Tom Desmet
Also active at: DECOSPAN HOLDING, D-Warehouse, The Veneer, DECOSPAN
since 2025 · until 2031
Director · represented by Marieke Desmet
Also active at: DECOSPAN HOLDING, D-Warehouse, The Veneer, DECOSPAN
since 2025 · until 2031
Shareholders
100%
Participations
100%
Establishments
Establishment units
Physical locations of this company
Lageweg 33
8930 Menen
August De Boeckstraat 56
1785 Merchtem
Active since 3 September 2010
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 6 companies are registered at this address.
All companies at this address →DECOSPAN HOLDING same network
€ 6.6 million revenue · 2025
D-Warehouse same network
€ -3,925 gross margin · 2025
The Veneer same network
€ 1.7 million revenue · 2025
DECOSPAN same network
€ 164.1 million revenue · 2025
decospan groep belgie
+1 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
- 0828.631.408
- VAT number
- BE 0828.631.408
- Registered office
- Lageweg 33, 8930 Menen
- Names & denominations
- D-ESTATE
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 20 August 2010
- Peppol
- Active · Active since 1 Jan 2026
- Activities · NACE
Productie van elektriciteit uit niet-hernieuwbare bronnen