Danfoss

Active

Public limited companyfounded 1967active for 59 yearsAlfons Gossetlaan 54, 1702 Dilbeek, Belgium11 active companies are registered at this addressKBO/BCE: BE 0402.904.445

Summary

Danfoss has been active since 1967 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.1m and a net result of €1.2m. Equity is shrinking by about 3% per year across the filed financial years. Its solvency ranks better than 20% of 172 sector peers (NACE 26, financial year 2025). The computed 12-month bankruptcy probability is 0.8% (low).

Risk analysisFollow Report Compare

DanfossActiveChecked score 67/100

Risk analysis Report Compare

Activity

Manufacture of computer, electronic and optical products

NACE 26510Wholesale of other machinery and equipment NACE 46649

5th largest employer in Flemish Brabant, Computer and electronic products sector1 site

Size

€29.4mturnover 2025

Staff: 33 FTE
Equity: €1.1m
Profit: €1.2m

Financial health

67 Healthy Checked score 2025

Bankruptcy probabilitywithin 12 months: 0.8%

Structure

Parent: DANFOSS A/S

STAHLSCHMIDT AndersDirector
LUNDQVIST AndreasDirector

Auditor: Pwc Bedrijfsrevisoren2025 accounts 35 days early

Why 67raises riskLiquidity: current ratio 1.23Equity €1.1m (14.6% of total assets)1 change of registered office in 24 monthslowers riskSize: turnover €29.4m, 33 FTE, total assets €7.8mShow the evidence

Checked score

Score 2025

67 / 100

Healthy

Probability in this band: 0.55% to 1.5%

Financially better than 30% of its sector peers (NACE 26, small)

Every signal that counts is listed under Signals.

Financial strength · tick = 2024

Weak

Solvency 40-2

equity 14.6% of total assets

Liquidity 12-35

short-term debt 80.5%

Profitability 75-1

return on assets 15.6%

Bankruptcy probability, 12 months

0.8% Low

0%0.5%1.5%4%10%≥ 25%

About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.1% (115 companies, NACE 26, small)

Last 24 months 11-2024: 0.3% 12-2024: 0.3%● unchanged vs 11-2024 01-2025: 0.3%● unchanged vs 12-2024 02-2025: 0.3%● unchanged vs 01-2025 03-2025: 0.3%● unchanged vs 02-2025 04-2025: 0.4%▲ +0.1 percentage points vs 03-2025 05-2025: 0.4%● unchanged vs 04-2025 06-2025: 0.4%● unchanged vs 05-2025 07-2025: 0.4%● unchanged vs 06-2025 08-2025: 0.3%▼ -0.1 percentage points vs 07-2025 09-2025: 0.3%● unchanged vs 08-2025 10-2025: 0.3%● unchanged vs 09-2025 11-2025: 0.3%● unchanged vs 10-2025 12-2025: 0.3%● unchanged vs 11-2025 01-2026: 0.3%● unchanged vs 12-2025 02-2026: 0.3%● unchanged vs 01-2026lowest value 03-2026: 0.3%● unchanged vs 02-2026 04-2026: 0.3%● unchanged vs 03-2026 05-2026: 0.3%● unchanged vs 04-2026 06-2026: 0.6%▲ +0.3 percentage points vs 05-2026 07-2026: 0.6%● unchanged vs 06-2026 08-2026: 0.8%▲ +0.2 percentage points vs 07-2026 09-2026: 1.0%▲ +0.2 percentage points vs 08-2026highest value 10-2026: 0.8%▼ -0.2 percentage points vs 09-2026

Credit of up to €75,000 on 30-day terms is acceptable

Liquidity tight (current ratio 1.23, compared with 1.89 in 2024, below the usual 1.5; short-term debt: 80.5% of total assets), and 85.4% of the assets are financed with debt and provisions.

How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 26, small): better than 18% on solvency, 8% on liquidity, 66% on profitability and 26% on growth.

The bankruptcy probability was computed on 28-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

Credit check for your own amount and term

Show the recommended maximum and see how the verdict changes with amount, term and advance.

Signals

Six signals.

lowers riskraises riskneutral

Liquidity: current ratio 1.23

NBB · annual accounts

Equity €1.1m (14.6% of total assets)

NBB · annual accounts

1 change of registered office in 24 months

Belgian Official Gazette

Size: turnover €29.4m, 33 FTE, total assets €7.8m

Companies of this size fail less often; how much that weighs depends on the rest of its profile.

NBB · annual accounts

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 172 sector peers (2025).

NBB · sector comparison

Position among 172 sector peers

Solvency

better than 20%

← weakest strongest →

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-06-2026, 35 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

35 days early

2024

35 days early

2023

33 days early

2022

56 days early

2021

38 days early

2020

18 days early

2019

39 days 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 36 days before the deadline; the sector median (NACE 26) for financial year 2024 is 8 days before the deadline, and 34% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 26 June (5 of the last 5 filed years within 30 days of that day).

Companies Code · seven months

Where today falls in the filing period

29-10-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

26-06-2026 Annual accounts filedfinancial year 2025 · full…
26-05-2026 Appointments: STAHLSCHMIDT Anders (director) and LUNDQVIST…Registered-office move · Power of…
26-06-2025 Annual accounts filedfinancial year 2024 · full…

Financials · financial year 2025, full format

In the rankings #5 employer in Flemish Brabant, Computer and electronic products sector #5 oldest company in Flemish Brabant, Computer and electronic products sector #9 company by total assets in Flemish Brabant, Computer and electronic products sector

Turnover

€29.4m▼ 8.0%

2024 · €32.0m

EBIT margin

6.9%▲ 0.7pp

2024 · 6.2%

Net result

€1.2m▼ 10.4%

2024 · €1.4m

Working capital

€1.4m▼ 58.4%

2024 · €3.5m

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €7.8m

98.9%

Fixed assets €88,536 ▲ 48.9%

Current assets €7.7m ▲ 5.3%

Equity and liabilities €7.8m

14.6%

83.8%

Equity €1.1m ▼ 10.2%

Provisions €119,823 ▲ 371%

Debt €6.6m ▲ 7.4%

Debt's share of the balance-sheet total rises from 82.4% to 83.8%. Equity is lower and debt is higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€2.1m▲

2024 · €2.0m

Cash flow

€1.2m▼

2024 · €1.4m

Quick ratio

1.15▼

2024 · 1.86

Debt to equity

5.72▲

2024 · 4.78

ROE

106.6%▼

2024 · 106.8%

Interest coverage

15.72▼

2024 · 18.15

Debt ≤ 1 year

€6.3m▲

2024 · €3.9m

Income taxes

€600,843▲

2024 · €424,362

Staff costs

€5.5m▲

2024 · €5.2m

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 2,613 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 97.3% are still going.

Small
20 years or older
solvency 10 to 30%
a profit of 5% of the balance sheet or more

0.7% went bankrupt

2.0% stopped otherwise

97.3% still going

For this company itself Checked computes a bankruptcy probability of 0.8% 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 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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%	0.9%
6	1.3%	1.5%
7	1.6%	1.8%
8	1.8%	1.8%
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 74.5% 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 2,613 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

OverviewIncome statement Balance sheet Cash flow

Last 5 years All years

Filed annual accounts As filed with the NBB · 2025 against 2024 · 77 lines

Balance sheet Code20242025

Assets

Total assets20/58€7.4m€7.8m▲

Fixed assets21/28€0.06m€0.09m▲

Tangible fixed assets22/27€0.06m€0.09m▲

Plant, machinery and equipment23€95€28▼

Furniture and vehicles24€0.02m€0.02m▲

Assets under construction and advance payments27€0.04m€0.07m▲

Financial fixed assets28€0.004m-

Other financial fixed assets284/8€0.004m-

Amounts receivable and cash guarantees285/8€0.004m-

Current assets29/58€7.4m€7.7m▲

Stocks and contracts in progress3€0.09m€0.5m▲

Stocks30/36€0.09m€0.5m▲

Work in progress32€0.003m€0.02m▲

Goods purchased for resale34€0.09m€0.5m▲

Amounts receivable within one year40/41€7.3m€7.2m▼

Trade receivables40€6.5m€4.9m▼

Other amounts receivable41€0.8m€2.3m▲

Deferred charges and accrued income490/1€0.01m€0.05m▲

Equity and liabilities

Total equity and liabilities10/49€7.4m€7.8m▲

Equity10/15€1.3m€1.1m▼

Contributions10/11€0.3m€0.3m=

Capital10€0.3m€0.3m=

Issued capital100€0.3m€0.3m=

Reserves13€0.07m€0.07m=

Non-distributable reserves130/1€0.04m€0.04m=

Legal reserve130€0.03m€0.03m=

Reserves not available under the articles1311€0.004m€0.004m=

Tax-exempt reserves132€0.03m€0.03m=

Profit (loss) carried forward14€0.9m€0.8m▼

Provisions and deferred taxes16€0.03m€0.1m▲

Provisions for liabilities and charges160/5€0.03m€0.1m▲

Other liabilities and charges164/5€0.03m€0.1m▲

Amounts payable17/49€6.1m€6.6m▲

Amounts payable after more than one year17€2.0m-

Other amounts payable178/9€2.0m-

Amounts payable within one year42/48€3.9m€6.3m▲

Current portion of amounts payable after more than one year42-€2.0m

Trade debts44€1.2m€0.8m▼

Suppliers440/4€1.2m€0.8m▼

Taxes, remuneration and social security45€1.6m€2.2m▲

Taxes450/3€0.7m€0.6m▼

Remuneration and social security454/9€0.9m€1.6m▲

Other amounts payable47/48€1.1m€1.4m▲

Accrued charges and deferred income492/3€0.2m€0.3m▲

Income statement Code20242025

Operating income70/76A€34.6m€31.7m▼

Turnover70€32.0m€29.4m▼

Change in stocks of work in progress, finished goods and contracts in progress71-€0.06m€0.01m▲

Other operating income74€2.6m€2.3m▼

Operating charges60/66A€32.6m€29.7m▼

Goods for resale, raw materials and consumables60€24.7m€21.4m▼

Purchases600/8€24.4m€21.8m▼

Change in stocks: decrease (increase)609€0.2m-€0.4m▼

Services and other goods61€1.2m€1.2m▲

Remuneration, social security and pensions62€5.2m€5.5m▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.02m€0.02m▼

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€0.05m€0.01m▲

Provisions for liabilities and charges: additions (uses and reversals)635/8-€0.05m€0.09m▲

Other operating charges640/8€1.6m€1.4m▼

Operating profit (loss)9901€2.0m€2.0m▲

Financial income75/76B€0.002m€0.004m▲

Recurring financial income75€0.002m€0.004m▲

Other financial income752/9€0.002m€0.004m▲

Financial charges65/66B€0.2m€0.2m▲

Recurring financial charges65€0.2m€0.2m▲

Debt charges650€0.1m€0.1m▲

Other financial charges652/9€0.09m€0.09m▼

Profit (loss) for the period before taxes9903€1.8m€1.8m▲

Income taxes67/77€0.4m€0.6m▲

Taxes670/3€0.4m€0.6m▲

Tax adjustments and reversals of tax provisions77€0.02m-

Profit (loss) for the period9904€1.4m€1.2m▼

Profit (loss) for the period to be appropriated9905€1.4m€1.2m▼

Appropriation of the result

Profit (loss) to be appropriated9906€2.0m€2.1m▲

Profit (loss) brought forward from the previous period14P€0.6m€0.9m▲

Profit to be distributed694/7€1.1m€1.4m▲

Return on contributions (dividend)694€1.1m€1.4m▲

Social balance sheet

Average headcount (FTE)908735.733.0▼

The notes to these accounts (39 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line	2018	2019	2020	2021	2022	2023	2024	2025	Change
Operating income70/76A	€28.8m	-	-	€28.3m	€33.3m	€35.0m	€34.6m	€31.7m	▼ 8.3%
Turnover70	€26.2m	€28.8m	€25.5m	€26.8m	€31.6m	€32.3m	€32.0m	€29.4m	▼ 8.0%
Change in stocks of work in progress, finished goods and contracts in progress71	-	-	-	€0.004m	€0.06m	-€0.02m	-€0.06m	€0.01m	-
Other operating income74	€2.6m	-	-	€1.5m	€1.6m	€2.7m	€2.6m	€2.3m	▼ 13.6%
Operating charges60/66A	€27.3m	-	-	€27.8m	€31.7m	€34.1m	€32.6m	€29.7m	▼ 9.0%
Goods for resale, raw materials and consumables60	€20.0m	-	-	€20.7m	€24.0m	€24.3m	€24.7m	€21.4m	▼ 13.1%
Purchases600/8	€20.0m	-	-	€20.9m	€24.1m	€24.3m	€24.4m	€21.8m	▼ 10.7%
Change in stocks: decrease (increase)609	€0.02m	-	-	-€0.1m	-€0.06m	€0.003m	€0.2m	-€0.4m	-
Services and other goods61	€2.8m	-	-	€2.4m	€1.2m	€1.4m	€1.2m	€1.2m	▲ 2.5%
Remuneration, social security and pensions62	€4.4m	-	-	€4.6m	€4.7m	€6.6m	€5.2m	€5.5m	▲ 5.2%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€0.03m	€0.03m	€0.04m	€0.03m	€0.03m	€0.02m	€0.02m	€0.02m	▼ 20.0%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4	-€0.04m	-	-	-€0.07m	€0.02m	€0.01m	-€0.05m	€0.01m	-
Provisions for liabilities and charges: additions (uses and reversals)635/8	€0.04m	-	-	-€0.002m	-€0.01m	€0.07m	-€0.05m	€0.09m	-
Other operating charges640/8	€0.1m	-	-	€0.05m	€1.6m	€1.8m	€1.6m	€1.4m	▼ 12.5%
Operating profit (loss)9901	€1.5m	€0.6m	€1.0m	€0.6m	€1.6m	€0.9m	€2.0m	€2.0m	▲ 2.7%
Financial income75/76B	-	-	-	-	-	€308	€0.002m	€0.004m	▲ 126%
Recurring financial income75	-	-	-	-	-	€308	€0.002m	€0.004m	▲ 126%
Other financial income752/9	-	-	-	-	-	€308	€0.002m	€0.004m	▲ 126%
Financial charges65/66B	€0.1m	-	-	€0.09m	€0.2m	€0.2m	€0.2m	€0.2m	▲ 9.8%
Recurring financial charges65	€0.1m	€0.1m	€0.1m	€0.09m	€0.2m	€0.2m	€0.2m	€0.2m	▲ 9.8%
Debt charges650	€0.02m	€0.01m	€0.03m	€0.009m	€0.05m	€0.1m	€0.1m	€0.1m	▲ 18.2%
Other financial charges652/9	€0.08m	-	-	€0.08m	€0.1m	€0.1m	€0.09m	€0.09m	▼ 0.2%
Profit (loss) for the period before taxes9903	€1.4m	€0.5m	€0.9m	€0.5m	€1.4m	€0.7m	€1.8m	€1.8m	▲ 2.0%
Income taxes67/77	€0.5m	€0.2m	€0.2m	€0.2m	€0.4m	€0.2m	€0.4m	€0.6m	▲ 41.6%
Taxes670/3	€0.5m	-	-	€0.2m	€0.4m	€0.2m	€0.4m	€0.6m	▲ 35.7%
Tax adjustments and reversals of tax provisions77	-	-	-	-	-	-	€0.02m	-	-
Profit (loss) for the period9904	€0.9m	€0.3m	€0.6m	€0.3m	€1.0m	€0.4m	€1.4m	€1.2m	▼ 10.4%
Profit (loss) for the period to be appropriated9905	€0.9m	€0.3m	€0.6m	€0.3m	€1.0m	€0.4m	€1.4m	€1.2m	▼ 10.4%

Line	2018	2019	2020	2021	2022	2023	2024	2025	Change
Assets
Total assets20/58	€6.2m	€7.2m	€5.3m	€6.2m	€7.9m	€7.7m	€7.4m	€7.8m	▲ 5.6%
Fixed assets21/28	€0.06m	€0.05m	€0.05m	€0.03m	€0.04m	€0.04m	€0.06m	€0.09m	▲ 48.9%
Tangible fixed assets22/27	€0.05m	€0.05m	€0.05m	€0.03m	€0.04m	€0.04m	€0.06m	€0.09m	▲ 59.6%
Land and buildings22	€0.02m	-	-	-	-	-	-	-	-
Plant, machinery and equipment23	€497	-	-	€296	€229	€162	€95	€28	▼ 70.5%
Furniture and vehicles24	€0.03m	-	-	€0.03m	€0.04m	€0.04m	€0.02m	€0.02m	▲ 0.2%
Assets under construction and advance payments27	-	-	-	-	-	-	€0.04m	€0.07m	▲ 94.3%
Financial fixed assets28	€0.004m	€0.004m	-	-	€0.004m	€0.004m	€0.004m	-	-
Other financial fixed assets284/8	€0.004m	-	-	-	€0.004m	€0.004m	€0.004m	-	-
Amounts receivable and cash guarantees285/8	€0.004m	-	-	-	€0.004m	€0.004m	€0.004m	-	-
Current assets29/58	€6.1m	€7.2m	€5.2m	€6.2m	€7.9m	€7.7m	€7.4m	€7.7m	▲ 5.3%
Stocks and contracts in progress3	€0.2m	€0.1m	€0.1m	€0.3m	€0.4m	€0.4m	€0.09m	€0.5m	▲ 419%
Stocks30/36	€0.2m	-	-	€0.3m	€0.4m	€0.4m	€0.09m	€0.5m	▲ 419%
Work in progress32	-	-	-	€0.01m	€0.07m	€0.06m	€0.003m	€0.02m	▲ 564%
Goods purchased for resale34	€0.2m	-	-	€0.3m	€0.3m	€0.3m	€0.09m	€0.5m	▲ 414%
Amounts receivable within one year40/41	€5.9m	€7.0m	€5.1m	€5.8m	€7.4m	€7.2m	€7.3m	€7.2m	▼ 0.5%
Trade receivables40	€5.7m	-	-	€5.7m	€7.4m	€5.6m	€6.5m	€4.9m	▼ 23.4%
Other amounts receivable41	€0.2m	-	-	€0.1m	€0.002m	€1.7m	€0.8m	€2.3m	▲ 185%
Deferred charges and accrued income490/1	€0.04m	-	-	€0.08m	€0.07m	€0.03m	€0.01m	€0.05m	▲ 311%
Equity and liabilities
Total equity and liabilities10/49	€6.2m	€7.2m	€5.3m	€6.2m	€7.9m	€7.7m	€7.4m	€7.8m	▲ 5.6%
Equity10/15	€1.3m	€1.6m	€2.2m	€1.2m	€2.2m	€1.0m	€1.3m	€1.1m	▼ 10.2%
Contributions10/11	€0.3m	€0.3m	€0.3m	€0.3m	€0.3m	€0.3m	€0.3m	€0.3m	=
Capital10	€0.3m	-	-	€0.3m	€0.3m	€0.3m	€0.3m	€0.3m	=
Issued capital100	€0.3m	-	-	€0.3m	€0.3m	€0.3m	€0.3m	€0.3m	=
Reserves13	€0.07m	€0.07m	€0.07m	€0.07m	€0.07m	€0.07m	€0.07m	€0.07m	=
Non-distributable reserves130/1	-	-	-	€0.04m	€0.04m	€0.04m	€0.04m	€0.04m	=
Legal reserve130	€0.03m	-	-	€0.03m	€0.03m	€0.03m	€0.03m	€0.03m	=
Reserves not available under the articles1311	€0.004m	-	-	-	-	€0.004m	€0.004m	€0.004m	=
Other1319	-	-	-	€0.004m	€0.004m	€0	-	-	-
Tax-exempt reserves132	€0.03m	-	-	€0.03m	€0.03m	€0.03m	€0.03m	€0.03m	=
Profit (loss) carried forward14	€0.9m	€1.2m	€1.8m	€0.8m	€1.8m	€0.6m	€0.9m	€0.8m	▼ 14.8%
Provisions and deferred taxes16	€0.2m	€0.03m	€0.02m	€0.02m	€0.008m	€0.07m	€0.03m	€0.1m	▲ 371%
Provisions for liabilities and charges160/5	€0.2m	-	-	€0.02m	€0.008m	€0.07m	€0.03m	€0.1m	▲ 371%
Other liabilities and charges164/5	€0.2m	-	-	€0.02m	€0.008m	€0.07m	€0.03m	€0.1m	▲ 371%
Amounts payable17/49	€4.7m	€5.6m	€3.1m	€5.0m	€5.7m	€6.6m	€6.1m	€6.6m	▲ 7.4%
Amounts payable after more than one year17	€0.8m	-	-	-	-	€2.0m	€2.0m	-	-
Other amounts payable178/9	€0.8m	-	-	-	-	€2.0m	€2.0m	-	-
Amounts payable within one year42/48	€3.9m	€5.4m	€3.0m	€4.9m	€5.4m	€4.4m	€3.9m	€6.3m	▲ 61.7%
Current portion of amounts payable after more than one year42	-	-	-	-	-	-	-	€2.0m	-
Trade debts44	€1.6m	€0.6m	€0.7m	€0.9m	€0.7m	€1.0m	€1.2m	€0.8m	▼ 38.2%
Suppliers440/4	€1.6m	-	-	€0.9m	€0.7m	€1.0m	€1.2m	€0.8m	▼ 38.2%
Taxes, remuneration and social security45	€1.3m	-	-	€1.4m	€2.0m	€1.8m	€1.6m	€2.2m	▲ 40.9%
Taxes450/3	€0.4m	-	-	€0.6m	€0.8m	€0.3m	€0.7m	€0.6m	▼ 2.7%
Remuneration and social security454/9	€0.9m	-	-	€0.8m	€1.1m	€1.5m	€0.9m	€1.6m	▲ 72.6%
Other amounts payable47/48	€1.0m	-	-	€2.5m	€2.7m	€1.6m	€1.1m	€1.4m	▲ 21.6%
Accrued charges and deferred income492/3	€0.07m	-	-	€0.1m	€0.3m	€0.2m	€0.2m	€0.3m	▲ 22.4%

Line	2018	2019	2020	2021	2022	2023	2024	2025	Change
Profit (loss) for the period9904	€0.9m	€0.3m	€0.6m	€0.3m	€1.0m	€0.4m	€1.4m	€1.2m	▼ 10.4%
+ Depreciation and write-downs630	€0.03m	€0.03m	€0.04m	€0.03m	€0.03m	€0.02m	€0.02m	€0.02m	▼ 20.0%
Operating cash flow (approximation)	€0.9m	€0.3m	€0.6m	€0.3m	€1.1m	€0.5m	€1.4m	€1.2m	▼ 10.5%
Investment in fixed assets (approximation)	-	-€0.03m	-€0.03m	-€0.003m	-€0.04m	-€0.02m	-€0.04m	-€0.05m	▼ 15.2%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Latest 10 of 48 filings with the National Bank

Financial year	Type	Filed	Reference
31-12-2025	full format	26-06-2026	2026-00217183
31-12-2024	full format	26-06-2025	2025-00204046
31-12-2023	full format	28-06-2024	2024-00199126
31-12-2022	full format	05-06-2023	2023-00113025
31-12-2021	full format	23-06-2022	2022-20128469
31-12-2020	full format	13-07-2021	2021-35500038
31-12-2019	full format	22-06-2020	2020-20300122
31-12-2018	full format	16-07-2019	2019-34100139
31-12-2017	full format	27-06-2018	2018-24900240
31-12-2016	full format	27-06-2017	2017-23300268

Show all 48 filings

Similar companies · same sector, comparable size

POWER LIMIT

BE 0428.090.791

Seraing · equity €1,186,241

BELGIAN ADVANCED TECHNOLOGY SYSTEMS

BE 0426.492.865

Liège · equity €1,202,074

STEEN METROLOGY SYSTEMS

BE 0423.402.426

Chaudfontaine · equity €1,061,661

BIOPTIS

BE 0892.450.478

Vielsalm · equity €1,055,052

CALIMET

BE 1032.015.959

Brugge · equity €1,253,429

Of the 211 active companies whose main activity is manufacture of computer, electronic and optical products (NACE 26510), figures are known for 170. 112 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector

Subsidies and aid

Flemish government

2022 to 2023 · 2 entries · €9,180 awarded · €9,180 paid

Year	Entries	Awarded	Paid
2023	1	€0	€9,180
2022	1	€9,180	€0

Schemes

Werkbaarheidscheque (stopgezet)

2 entries · €9,180 · €9,180 paid · Departement Werk en Sociale Economie

Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.

Directors

2 directors, 1 in day-to-day management, no change since 2025

Board 2

STAHLSCHMIDT Anders

Director · since 30-05-2016

Current

LUNDQVIST Andreas

Director · since 30-05-2025

Current

3 not recently confirmed

Still in office according to the deeds, but no deed of the last six years confirms the mandate. Mandates like this have often ended since, in a deed we have not read yet.

Kim Kirk Christensen

Director · since 22-06-2015

Not recently confirmed

Torben Christensen

Director · since 19-10-2017

Not recently confirmed

Ole Steen Andersen

Director

Not recently confirmed

Day-to-day management 1

Stefaan Corneillie

Day-to-day manager · since 01-03-2025

Current

1 not recently confirmed

Still in office according to the deeds, but no deed of the last six years confirms the mandate. Mandates like this have often ended since, in a deed we have not read yet.

Daniel Cohn

Algemeen directeur en general manager (head of administration) · since 01-09-2019

Not recently confirmed

Statutory auditor 1

Pwc Bedrijfsrevisoren

Statutory auditor · since 17-04-2013 · permanent representative: Brecht Lokere

Current

Other functions 2

Henk Vandorp

Wettelijk vertegenwoordiger · since 22-09-2005

Not recently confirmed

Daniel Cohn

Algemeen directeur en general manager (head of administration) · since 01-09-2019

Not recently confirmed

Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ. See the directors and other office holders in the KBO →

Mandate history

16 people since 2004, 9 in office

All 16 In office 9 Ended 7

Board
Day-to-day management
Statutory auditor
Other function
not recently confirmed
began earlier

Mandates per person, with start and end dates
Name	Functions and periods
STAHLSCHMIDT Anders	Director, from before 20-09-2010 to 06-11-2015 Director, since before 30-05-2016
LUNDQVIST Andreas	Director, from 30-05-2025 to date
Stefaan Corneillie	Day-to-day manager, from 01-03-2025 to date
Pwc Bedrijfsrevisoren	Statutory auditor, from 17-04-2013 to date
Ole Steen Andersen	Director, from before 27-02-2006 not ended, last confirmed 27-02-2006
Kim Kirk Christensen	Director, from 22-06-2015 not ended, last confirmed 19-07-2016
Torben Christensen	Director, from 19-10-2017 not ended, last confirmed 25-05-2020
Daniel Cohn	Algemeen directeur en general manager (head of administration), from 01-09-2019 not ended, last confirmed 06-11-2019 Algemeen directeur en general manager (head of administration), from 01-09-2019 not ended, last confirmed 06-11-2019
Henk Vandorp	Wettelijk vertegenwoordiger, from 22-09-2005 not ended, last confirmed 27-02-2006
Serge Vermeulen	Day-to-day manager, from 02-07-2018 to 15-11-2021
Ronny Brisaert	Director, from before 27-02-2006 to 06-11-2015 Managing director, from 26-03-2010 to 01-09-2019 Director, from before 30-05-2016 to 19-10-2017 Algemeen directeur en general manager (head of administration), until 01-09-2019
Kim Christensen	Director, until 30-09-2017
Kjeld Staerk	Director, from 01-10-2010 to 22-06-2015
KPMG Bedrijfsrevisoren	Auditor, from 28-05-2004 to 17-04-2013
Roland Fritsch	Director, from before 27-02-2006 to 01-10-2010
Virgile Nijs	Wettelijk vertegenwoordiger, until 22-09-2005

Show all 16 people Show the first 12See the board, name and registered office on a given date →

Owners and capital

Owners

1 owner

Chain of control

DANFOSS A/SDK consolidates
Danfoss

Highest known parent: DANFOSS A/S (Denmark). The sources do not say who stands above it.

Owners 1

DANFOSS A/SDKconsolidating parent
Sourceparent in own accounts 2024

consolidates

Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.

Capital and shareholders

Capital over the years

24-02-2021 Capital stated in the deed · €327,147.40 · 12,201 shares
20-11-2017 Capital increase of €65,000 · to €327,147.40 · 1,626 new shares
31-03-2017 Capital stated in the deed · €262,147 · 10,575 shares
27-06-2006 Capital stated in the deed · €262,147.40 · 10,575 shares

Group and network

Connections & network

2 current directors

Depth

The network starts from this company’s directors. Other companies they run appear here as nodes.

This company Company Director Shareholding +N: links not shown yet

Acquisitions and mergers

2 transactions

Took over:Vacon Benelux NV/SA

merger by absorption · Gazette deed of 20-11-2017 · effective 30-10-2017

Took over:Vacon Benelux NV

merger by absorption · proposal · Gazette deed of 31-03-2017

History

On 16 February 1967, Danfoss was incorporated.¹ In 2003 the registered office moved to Groot-Bijgaarden.² The name was changed to Danfoss NV/SA in 2006.³ A capital increase in 2017 brought the capital to €327,147.⁴ Vacon Benelux NV/SA was merged into the company in 2017.⁴ Of the 2 current board members, STAHLSCHMIDT Anders has served longest, since 2016.⁵ Turnover went from €26.2m in 2018 to €29.4m in 2025 and headcount from 39.3 to 33 full-time equivalents.⁶

Acts, filings and financial milestones

All 41Financial 4Gazette 27Filings 10

Next filing, financial year 2026, expected by 31-07-2027

2026

26-06

NBB filing Annual accounts filed

financial year 2025 · full format

26-05

Gazette deed Appointments: STAHLSCHMIDT Anders (director) and LUNDQVIST Andreas (director)

Registered-office move · Power of attorney9 facts ▸

General meeting, 08-05-2026
Registered-office move, Alfons Gossetlaan 54,1702 Groot-Bijgaarden
Director appointment, STAHLSCHMIDT Anders (director)
Director appointment, LUNDQVIST Andreas (director)
Board composition, STAHLSCHMIDT Anders (director)
Board composition, LUNDQVIST Andreas (director)
Other provision, “bekrachtiging bestuurshandelingen, voor zover als mogelijk en voor zover als nodig” (deed in Dutch)
Other provision, “Volmacht voor de coördinatie, VIERDE BESLISSING” (deed in Dutch)
Power of attorney

2025

26-06

NBB filing Annual accounts filed

financial year 2024 · full format

03-04

Gazette deed Appointment: Stefaan Corneillie (day-to-day manager)

2 facts ▸

Board meeting, 24-03-2025
Director appointment, Stefaan Corneillie (day-to-day manager)

2024

31-12

Financial Highest result from 2018 to 2025net €1.4m ▲216%

Net result €1.4m, the highest in the series.

28-06

NBB filing Annual accounts filed

financial year 2023 · full format

23-02

Gazette deed Reappointment: PwC Bedrijfsrevisoren (statutory auditor)

2 facts ▸

General meeting, 26-05-2023
Auditor reappointment, PwC Bedrijfsrevisoren (statutory auditor)

2023

05-06

NBB filing Annual accounts filed

financial year 2022 · full format

2022

31-12

Financial Equity above €2mequity €2.2m ▲84.6%

A profit in every financial year since 2018 builds equity to €2.2m.

23-06

NBB filing Annual accounts filed

financial year 2021 · full format

2021

31-12

Financial Weakest financial yearnet €279,680 ▼53.8%

Net result drops to €279,680, the lowest in the series; recovery starts the following year.

18-11

Gazette deed Resignation: Serge Vermeulen (director)

2 facts ▸

Board meeting, 28-10-2021
Director resignation, Serge Vermeulen (director (executive))

Show earlier events

13-07

NBB filing Annual accounts filed

financial year 2020 · full format

24-02

Gazette deed Amendment of the articles

Capital · Power of attorney · Shares5 facts ▸

General meeting, 04-12-2020
Amendment of the articles
Capital, €327,147.40
Power of attorney, Elke bestuurder
Shares, “uitsluitend op naam” (deed in Dutch)

2020

31-12

Financial Equity above €2mequity €2.2m ▲38.5%

A profit in every financial year since 2018 builds equity to €2.2m.

25-09

Gazette deed Reappointment: PricewaterhouseCoopers Bedrijfsrevisoren BV (statutory auditor)

Permanent representative: Brecht Lokere · Power of attorney4 facts ▸

General meeting, 29-05-2020
Auditor reappointment, PricewaterhouseCoopers Bedrijfsrevisoren BV (statutory auditor)
Permanent representative, Brecht Lokere
Power of attorney, AD-Ministerie BV

22-06

NBB filing Annual accounts filed

financial year 2019 · full format

25-05

Gazette deed Reappointments: Anders Stahlschmidt (director) and Torben Christensen (director)

Mandate compensation5 facts ▸

General meeting, 06-06-2019
Director reappointment, Anders Stahlschmidt (director)
Mandate compensation, Anders Stahlschmidt
Director reappointment, Torben Christensen (director)
Mandate compensation, Torben Christensen

20-01

Gazette deed Permanent representative: Brecht Lokere

1 fact ▸

Permanent representative, Brecht Lokere

2019

06-11

Gazette deed Resignation: Ronny Brisaert (algemeen directeur en general manager)

Appointment: Daniel Cohn (algemeen directeur en general manager) · Mandate compensation4 facts ▸

Board meeting, 10-10-2019
Director resignation, Ronny Brisaert (algemeen directeur en general manager (head of administration))
Director appointment, Daniel Cohn (algemeen directeur en general manager (head of administration))
Mandate compensation, Daniel Cohn

16-07

NBB filing Annual accounts filed

financial year 2018 · full format

2018

31-07

Gazette deed Appointment: Serge Vermeulen (day-to-day manager)

Power of attorney5 facts ▸

Board meeting, 02-07-2018
Director appointment, Serge Vermeulen (day-to-day manager)
Board composition, Serge Vermeulen (day-to-day manager)
Board composition, Ronny Brisaert (day-to-day manager)
Power of attorney, NautaDutilh

27-06

NBB filing Annual accounts filed

financial year 2017 · full format

27-04

Gazette deed Appointment: PricewaterhouseCoopers Bedrijfsrevisoren (statutory auditor)

Permanent representative: Koen Hens · Power of attorney4 facts ▸

General meeting
Auditor appointment, PricewaterhouseCoopers Bedrijfsrevisoren
Permanent representative, Koen Hens
Power of attorney, NautaDutilh

2017

20-11

Gazette deed Capital & shares · Restructuring

Merger · Accounting effect · Capital increase12 facts ▸

General meeting, 30-10-2017
Merger, “absorption”, 30-10-2017 (deed in Dutch)
Accounting effect, 01-04-2017
Capital increase, €65,000
Share issue, “volgestorte nieuw uit te geven aandelen op naam”, 1626 (deed in Dutch)
Share issue, “Toekenning van nieuwe aandelen in ruil voor aandelen van de overgenomen vennootschap”, 876 (deed in Dutch)
Share issue, “Toekenning van nieuwe aandelen in ruil voor aandelen van de overgenomen vennootschap”, 750 (deed in Dutch)
Amendment of the articles
Capital, €327,147.40
Auditor report, 27-10-2017
Merger proposal, “bestuursorganen van Vacon Benelux NV/SA”, 16-03-2017 (deed in Dutch)
Merger proposal deposit, 20-03-2017

17-11

Gazette deed Resignations: Kim Christensen (director) and Ronny Brisaert (director)

Appointment: Torben Christensen (director) · Mandate compensation · Power of attorney9 facts ▸

Board meeting, 19-10-2017
General meeting, 20-10-2017
Director resignation, Kim Christensen (director)
Director resignation, Ronny Brisaert (director)
Director appointment, Torben Christensen (director) (2 times)
Mandate compensation, Torben Christensen
Board composition, Torben Christensen (director)
Board composition, Anders Stahischmidt (director)
Power of attorney, NautaDutilh

13-07

Gazette deed Reappointment: BCVBA PwC Bedrijfsrevisoren (statutory auditor)

Permanent representative: Koen Hens3 facts ▸

General meeting, 26-05-2017
Auditor reappointment, BCVBA PwC Bedrijfsrevisoren (statutory auditor)
Permanent representative, Koen Hens

27-06

NBB filing Annual accounts filed

financial year 2016 · full format

31-03

Gazette deed Restructuring

Merger · Accounting effect · Capital10 facts ▸

Board meeting, 16-03-2017
Merger, “absorption, 7,59 nieuwe aandelen van Danfoss voor één bestaand aandeel van Vacon” (deed in Dutch)
Accounting effect, 01-01-2017
Capital, €262,147
Capital, €65,000
Share issue, 349, “fusion exchange” (deed in Dutch)
Share issue, 410, “fusion exchange” (deed in Dutch)
Amendment of the articles
Egm deadline, 01-05-2017
Consideration, “no cash compensation; consideration consists solely of Danfoss shares” (deed in Dutch)

2016

19-07

Gazette deed Appointment: Ronny Brisaert (managing director)

Mandate compensation3 facts ▸

Board meeting, 29-04-2016
Director appointment, Ronny Brisaert (managing director)
Mandate compensation, Ronny Brisaert

19-07

Gazette deed Reappointments: Anders Stahlschmidt, Kim Kirk Christensen and Ronny Brisaert

Mandate term · Mandate compensation6 facts ▸

General meeting, 30-05-2016
Director reappointment, Anders Stahlschmidt (director)
Director reappointment, Kim Kirk Christensen (director)
Director reappointment, Ronny Brisaert (director)
Mandate term, 6 years, “ending at the ordinary general meeting in 2019” (deed in Dutch)
Mandate compensation, DANFOSS NV/SA

2015

01-12

Gazette deed Resignations: Kjeld Staerk, Anders Stahlschmidt and Ronny Brisaert

Appointments: Kim Kirk Christensen (director) and PwC Bedrijfsrevisoren BCVBA (statutory auditor) · Reappointments: Anders Stahlschmidt (director) and Ronny Brisaert (director) · Permanent representative: Koen Hens15 facts ▸

General meeting, 06-11-2015
Director resignation, Kjeld Staerk (director)
Director appointment, Kim Kirk Christensen (director)
Mandate compensation, Kim Kirk Christensen
Director reappointment, Anders Stahlschmidt (director)
Director reappointment, Ronny Brisaert (director)
Director resignation, Anders Stahlschmidt (director)
Director resignation, Ronny Brisaert (director)
Mandate compensation, Anders Stahlschmidt
Mandate compensation, Ronny Brisaert
Board composition, Anders Stahlschmidt (director)
Board composition, Ronny Brisaert (director)
+3 further facts in this act

2011

02-09

Gazette deed Appointment: Ronny Brisaert (managing director)

Mandate compensation3 facts ▸

Board meeting, 25-03-2011
Director appointment, Ronny Brisaert (managing director)
Mandate compensation, Ronny Brisaert

02-09

Gazette deed Reappointments: Kjeld Staerk, Anders Stahlschmidt and Ronny Brisaert

Mandate compensation5 facts ▸

General meeting, 27-05-2011
Director reappointment, Kjeld Staerk (director)
Director reappointment, Anders Stahlschmidt (director)
Director reappointment, Ronny Brisaert (director)
Mandate compensation, DANFOSS

2010

12-11

Gazette deed Resignation: Roland Fritsch (director)

Appointment: Kjeld Staerk (director)3 facts ▸

General meeting, 30-09-2010
Director resignation, Roland Fritsch (director)
Director appointment, Kjeld Staerk (director)

20-09

Gazette deed Reappointments: Roland Fritsch, Anders Stahlschmidt and Ronny Brisaert

Mandate compensation5 facts ▸

General meeting, 28-05-2010
Director reappointment, Roland Fritsch (director)
Director reappointment, Anders Stahlschmidt (director)
Director reappointment, Ronny Brisaert (director)
Mandate compensation, DANFOSS

20-09

Gazette deed Appointment: Ronny Brisaert (managing director)

Mandate compensation3 facts ▸

Board meeting, 26-03-2010
Director appointment, Ronny Brisaert (managing director)
Mandate compensation, Ronny Brisaert

2006

27-06

Gazette deed Capital & shares · Amendment of the articles

Name change · Capital4 facts ▸

General meeting, 08-06-2006
Name change, Danfoss NV/SA
Capital, €262,147.40
Amendment of the articles

27-02

Gazette deed Reappointments: Roland Fritsch, Ole Steen Andersen and 2 others

Resignation: Virgile Nijs (wettelijk vertegenwoordiger) · Appointment: Henk Vandorp (wettelijk vertegenwoordiger) · Mandate term8 facts ▸

General meeting, 27-03-2005
Director reappointment, Roland Fritsch (director)
Director reappointment, Ole Steen Andersen (director)
Director reappointment, Ronny Brisaert (director)
Mandate term, “einde mandaat op de algemene vergadering van de aandeelhouders in 2006” (deed in Dutch) (3 times)
Auditor reappointment, KPMG Bedrijfsrevisoren
Director resignation, Virgile Nijs (wettelijk vertegenwoordiger)
Director appointment, Henk Vandorp (wettelijk vertegenwoordiger)

27-02

Gazette deed Reappointments: Roland Fritsch, Ole Steen Andersen and 2 others

5 facts ▸

General meeting, 28-05-2004
Director reappointment, Roland Fritsch (director)
Director reappointment, Ole Steen Andersen (director)
Director reappointment, Ronny Brisaert (director)
Auditor reappointment, KPMG Bedrijfsrevisoren

2003

29-09

Gazette deed Registered office

Registered-office move2 facts ▸

Board meeting, 05-08-2003
Registered-office move, A Gossetlaan 28 1702 Groot-Bijgaarden

Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.Of the 48 annual accounts filed, the latest 10 are here; all 48 are under Financials.

27 of 27 deeds read

Register details

Identification

Legal formPublic limited company

Founded16-02-1967

Financial year end31-12

Activities, NACEBEL 2025

26510Manufacture of computer, electronic and optical products

46649Wholesale of other machinery and equipment

46643Wholesale of electrical equipment, including installation materials

E-invoicing

Reachable via Peppol

Peppol ID 0208:0402904445

Registered 20-11-2020

If you follow this company, Checked tells you the day it leaves the Peppol register.

Scores and ratios are computed by Checked and are not a credit decision.

Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.

Sites & property

Location & real-estate footprint

Registered office, Dilbeek · 1 establishment unit since 1967

registered office establishment The establishment unit on the map

Ground area

1.4 ha

Building footprint

4,402 m²

Building volume

64,934 m³

2 parcels, Flanders · tallest building 21.8 m. Linked by address, not a title deed.

11 companies at this address See who is registered here

1 establishment unit

Alfons Gossetlaan 28, 1702 Dilbeek

Wholesale of electrical equipment, including installation materials

since 1967unit no. 2.000.225.221

2 parcels

Flanders 2 (100%)

Cadastral parcel	Region	Area	Buildings	Height / floors
23026A0129/00W000	Flanders	7,586 m²	1 · 2,290 m²	21.4 m · 5
23026A0119/00W000	Flanders	6,039 m²	1 · 2,112 m²	21.8 m · 5

How the parcels are linked

Good to know

Both parcels match the address exactly.

Articles of association

Purpose: “Alle mogelijke activiteiten van burgerlijke, commerciële, administratieve, industriële, of technische aard, in rechtstreeks of…” (deed in Dutch)
Text of the purpose (deed in Dutch)
“Alle mogelijke activiteiten van burgerlijke, commerciële, administratieve, industriële, of technische aard, in rechtstreeks of onrechtstreeks verband met de creatie, de productie, de fabricatie, de aankoop, de verkoop, de verbetering, de invoer, de uitvoer, en in het algemeen de nijverheid en de handel onder welke vorm ook, voor eigen rekening of als agent, vertegenwoordiger of tussenpersoon, van alle apparaten, materialen, hulpstukken en onderdelen in het bijzonder bestemd voor koeling, verwarmingsinstallaties, branders en verwarmingsketels, elektrische en hydraulische installaties en de industrie in het algemeen...”
The full purpose is in the deed
deed of 24-02-2021
Board rule: “13, 3” (deed in Dutch)
1 more provision on this in the deed
deed of 26-05-2026

Read from the deeds: 3 provisions, deed of 26-05-2026