DALCAS
ActiveSummary
DALCAS has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €538,664 and a net result of €52,008. Equity remains stable across the filed fiscal years (±0.9% per year). Its solvency ranks better than 89% of 10522 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability78▼-4
Solvency100▲+4
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45,000 at 30 days acceptable
Liquidity ample (current ratio 3.77 against 2.52 in 2024; short-term debt: 12.3% and cash: 41% of total assets), and 19.4% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more 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
80.6%
Return on assets
7.8%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-08-2026, 10 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
10 d late
2024
12 d late
2023
on the day
2022
6 d early
2021
19 d early
2020
36 d early
2019
18 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 8 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
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. Usually files around 1 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€538,664▼ 1.8%
2024 · €548,469
Total assets
€668,127▼ 12.9%
2024 · €767,157
Net result
€52,008▼ 34.7%
2024 · €79,690
Working capital
€228,737▼ 12.1%
2024 · €260,282
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€130,187▲ 13.3%€150,200▲ 15.4%€136,940▼ 8.8%€132,859▼ 3.0%€85,727▼ 35.5%
Net result€83,197above the sector's middle half▲ 13.3%€96,781above the sector's middle half▲ 16.3%€85,387above the sector's middle half▼ 11.8%€79,690above the sector's middle half▼ 6.7%€52,008within the sector's middle half▼ 34.7%
Equity€515,327above the sector's middle half▼ 6.7%€546,129above the sector's middle half▲ 6.0%€548,235above the sector's middle half▲ 0.4%€548,469above the sector's middle half=€538,664within the sector's middle half▼ 1.8%
Total assets€730,563above the sector's middle half▼ 4.3%€757,299above the sector's middle half▲ 3.7%€758,468above the sector's middle half▲ 0.2%€767,157above the sector's middle half▲ 1.1%€668,127within the sector's middle half▼ 12.9%
Debt€215,236▲ 1.9%€211,170▼ 1.9%€210,233▼ 0.4%€218,687▲ 4.0%€129,462▼ 40.8%
Working capital€208,828above the sector's middle half▼ 1.3%€247,267above the sector's middle half▲ 18.4%€261,952above the sector's middle half▲ 5.9%€260,282above the sector's middle half▼ 0.6%€228,737within the sector's middle half▼ 12.1%
Solvency70.5%above the sector's middle half▼ 1.8pp72.1%above the sector's middle half▲ 1.6pp72.3%above the sector's middle half▲ 0.2pp71.5%above the sector's middle half▼ 0.8pp80.6%above the sector's middle half▲ 9.1pp
Current ratio2.25within the sector's middle half▼ 0.052.47within the sector's middle half▲ 0.222.60within the sector's middle half▲ 0.132.52within the sector's middle half▼ 0.083.77above the sector's middle half▲ 1.25
Return on assets (ROA)11.4%within the sector's middle half▲ 1.8pp12.8%above the sector's middle half▲ 1.4pp11.3%within the sector's middle half▼ 1.5pp10.4%within the sector's middle half▼ 0.9pp7.8%within the sector's middle half▼ 2.6pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
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 has fallen three years in a row; 2025 is 35% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €668,127
Fixed assets
€356,929 ▲ 6.4%
Current assets
€311,198 ▼ 27.9%
Equity and liabilities €668,127
Equity
€538,664 ▼ 1.8%
Debt
€129,462 ▼ 40.8%
Debt's share of the balance-sheet total falls from 28.5% to 19.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€106,671▼
2024 · €145,002
Cash flow
€72,951▼
2024 · €91,833
Debt to equity
0.24▼
2024 · 0.40
ROE
9.7%▼
2024 · 14.5%
Interest coverage
9.90▲
2024 · 8.90
Debt ≤ 1 year
€82,461▼
2024 · €171,301
Debt > 1 year
€39,139=
2024 · €39,139
Income taxes
€22,945▼
2024 · €36,877
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,134 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 20,134 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €37,050 | €14,861 | €13,136 | €12,143 | €20,944 | ▲ 72.5% |
| Other operating charges640/8 | €22,499 | €21,143 | €27,933 | €32,122 | €28,518 | ▼ 11.2% |
| Gross operating margin9900 | €189,737 | €186,205 | €178,009 | €177,124 | €135,189 | ▼ 23.7% |
| Operating profit (loss)9901 | €130,187 | €150,200 | €136,940 | €132,859 | €85,727 | ▼ 35.5% |
| Financial charges65/66B | €8,329 | €8,428 | €11,655 | €16,292 | €10,775 | ▼ 33.9% |
| Recurring financial charges65 | €8,329 | €8,428 | €11,655 | €16,292 | €10,775 | ▼ 33.9% |
| Profit (loss) for the period before taxes9903 | €121,858 | €141,773 | €125,285 | €116,567 | €74,952 | ▼ 35.7% |
| Income taxes67/77 | €38,660 | €44,992 | €39,897 | €36,877 | €22,945 | ▼ 37.8% |
| Profit (loss) for the period9904 | €83,197 | €96,781 | €85,387 | €79,690 | €52,008 | ▼ 34.7% |
| Profit (loss) for the period to be appropriated9905 | €83,197 | €96,781 | €85,387 | €79,690 | €52,008 | ▼ 34.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €730,563 | €757,299 | €758,468 | €767,157 | €668,127 | ▼ 12.9% |
| Fixed assets21/28 | €355,036 | €342,245 | €332,983 | €335,574 | €356,929 | ▲ 6.4% |
| Tangible fixed assets22/27 | €355,036 | €342,245 | €332,983 | €335,574 | €356,929 | ▲ 6.4% |
| Land and buildings22 | €343,296 | €335,488 | €327,681 | €319,873 | €311,987 | ▼ 2.5% |
| Plant, machinery and equipment23 | €11,741 | €6,757 | €2,059 | €6,044 | €37,650 | ▲ 523% |
| Other tangible fixed assets26 | - | - | €3,244 | €9,657 | €7,292 | ▼ 24.5% |
| Current assets29/58 | €375,527 | €415,053 | €425,485 | €431,583 | €311,198 | ▼ 27.9% |
| Amounts receivable within one year40/41 | €2,275 | - | €2,299 | €5,123 | €34,903 | ▲ 581% |
| Trade receivables40 | - | - | - | - | €10,845 | - |
| Other amounts receivable41 | €2,275 | - | €2,299 | €5,123 | €24,057 | ▲ 370% |
| Cash at bank and in hand54/58 | €369,654 | €414,952 | €417,976 | €419,230 | €274,014 | ▼ 34.6% |
| Deferred charges and accrued income490/1 | €3,598 | €101 | €5,209 | €7,230 | €2,282 | ▼ 68.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €730,563 | €757,299 | €758,468 | €767,157 | €668,127 | ▼ 12.9% |
| Equity10/15 | €515,327 | €546,129 | €548,235 | €548,469 | €538,664 | ▼ 1.8% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €453,327 | €484,129 | €486,235 | €486,469 | €476,664 | ▼ 2.0% |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | €447,127 | €477,929 | €480,035 | €480,269 | €470,464 | ▼ 2.0% |
| Amounts payable17/49 | €215,236 | €211,170 | €210,233 | €218,687 | €129,462 | ▼ 40.8% |
| Amounts payable after more than one year17 | €39,139 | €39,139 | €39,139 | €39,139 | €39,139 | = |
| Financial debts170/4 | €39,139 | €39,139 | €39,139 | €39,139 | €39,139 | = |
| Amounts payable within one year42/48 | €166,699 | €167,786 | €163,532 | €171,301 | €82,461 | ▼ 51.9% |
| Trade debts44 | - | - | €138 | €4,493 | - | - |
| Suppliers440/4 | - | - | €138 | €4,493 | - | - |
| Taxes, remuneration and social security45 | €4,239 | €5,326 | €935 | €4,348 | €1,232 | ▼ 71.7% |
| Taxes450/3 | €4,239 | €5,326 | €935 | €4,348 | €1,232 | ▼ 71.7% |
| Other amounts payable47/48 | €162,460 | €162,460 | €162,460 | €162,460 | €81,230 | ▼ 50.0% |
| Accrued charges and deferred income492/3 | €9,398 | €4,245 | €7,562 | €8,248 | €7,862 | ▼ 4.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €83,197 | €96,781 | €85,387 | €79,690 | €52,008 | ▼ 34.7% |
| + Depreciation and write-downs630 | €37,050 | €14,861 | €13,136 | €12,143 | €20,944 | ▲ 72.5% |
| Operating cash flow (approximation) | €120,247 | €111,642 | €98,523 | €91,833 | €72,951 | ▼ 20.6% |
| Investment in fixed assets (approximation) | - | -€2,070 | -€3,874 | -€14,733 | -€42,299 | ▼ 187% |
| Change in cash | - | €45,298 | €3,024 | €1,254 | -€145,216 | ▼ 11,681% |
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
10-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 10 days late
2025
31-12
Financial
Weakest financial yearnet €52,008 ▼34.7%
Net result drops to €52,008, the lowest in the series.
12-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 12 days late
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €96,781 ▲16.3%
Operating result €150,200, net result €96,781, both a record.
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
13-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Equity above €500,000Eq €526,119 ▲13.3%
2 profitable years in a row build equity to €526,119.
09-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
01-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Sint-Lambrechts-Woluwe · 1 establishment unit since 1990
Ground area
1,072 m²
Building footprint
383 m²
Volume, LiDAR
4,739 m³
Parcel 21673D0078/00T000, Brussels · tallest building 19.1 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
DALCAS
since 19902.049.504.387
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21673D0078/00T000 | Brussels | 1,072 m² | 1 · 383 m² | 19.1 m · 5 fl. |
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.
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Of 12,951 companies in sector 47120 we hold annual accounts for 2,192. 1,080 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded01-08-1990
Fiscal year end31-12
Activities, NACEBEL 2025
47120Other non-specialised retail sale
E-invoicing
Reachable via Peppol
Peppol ID
0208:0441224195
Also
9925:BE0441224195
Registered
03-04-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.