DARCOPACK
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 08-01-2026 PDF all 31 filings
Turnover
€30.4m▼ 0.3%
2024 · €30.5m
EBIT margin
3.2%▼ 0.5pp
2024 · 3.7%
Net result
€633,336▼ 17.9%
2024 · €771,696
Working capital
€7.9m▲ 9.9%
2024 · €7.2m
In the rankings
#8 company by total assets in Wevelgem, Wholesale and retail trade sector#9 company by equity in Wevelgem, Wholesale and retail trade sector
Multi-year overview
2019 to 2025, 7 financial yearsTurnover
€30.4m
▼ 0.3%
2025
20192025
Operating result
€964,177
▼ 14.5%
2025
20192025
Net result
€633,336
▼ 17.9%
2025
highest quarter of the sector
20192025
EBIT margin
3.2%
▼ 0.5pp
2025
20192025
Equity
€8.3m
▲ 11.7%
2025
highest quarter of the sector
20192025
Total assets
€14.0m
▲ 5.9%
2025
highest quarter of the sector
20192025
Debt
€5.7m
▲ 0.2%
2025
20192025
Working capital
€7.9m
▲ 9.9%
2025
highest quarter of the sector
20192025
Solvency
59.1%
▲ 3.1pp
2025
middle half of the sector
20192025
Current ratio
2.39
▲ 0.11
2025
middle half of the sector
20192025
Return on assets (ROA)
4.5%
▼ 1.3pp
2025
middle half of the sector
20192025
Staff (FTE)
19.5
▲ 27.5%
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Turnover€23.4m-€23.9m▲ 2.4%€27.9m▲ 16.7%€39.1m▲ 40.0%€35.8m▼ 8.4%€30.5m▼ 14.7%€30.4m▼ 0.3%
Operating result€0.6m-€0.9m▲ 52.9%€2.2m▲ 151%€1.3m▼ 38.7%€1.1m▼ 21.6%€1.1m▲ 7.1%€1.0m▼ 14.5%
Net result€0.3m-€0.5mabove the sector's middle half▲ 40.9%€1.7mabove the sector's middle half▲ 265%€1.1mabove the sector's middle half▼ 39.1%€0.8mabove the sector's middle half▼ 28.3%€0.8mabove the sector's middle half▲ 1.9%€0.6mabove the sector's middle half▼ 17.9%
EBIT margin2.4%-3.7%▲ 1.2pp7.8%▲ 4.2pp3.4%▼ 4.4pp2.9%▼ 0.5pp3.7%▲ 0.8pp3.2%▼ 0.5pp
Equity€3.4m-€3.9mabove the sector's middle half▲ 13.9%€5.2mabove the sector's middle half▲ 34.1%€6.1mabove the sector's middle half▲ 17.3%€6.8mabove the sector's middle half▲ 10.3%€7.4mabove the sector's middle half▲ 9.6%€8.3mabove the sector's middle half▲ 11.7%
Total assets€9.2m-€8.5mwithin the sector's middle half▼ 7.4%€11.0mwithin the sector's middle half▲ 28.5%€13.2mabove the sector's middle half▲ 20.2%€12.8mabove the sector's middle half▼ 3.3%€13.2mwithin the sector's middle half▲ 3.7%€14.0mabove the sector's middle half▲ 5.9%
Debt€5.8m-€4.6m▼ 19.9%€5.8m▲ 23.8%€7.0m▲ 21.1%€5.9m▼ 15.4%€5.7m▼ 3.1%€5.7m▲ 0.2%
Working capital€3.2m-€3.8mabove the sector's middle half▲ 15.9%€4.8mabove the sector's middle half▲ 28.9%€5.9mabove the sector's middle half▲ 22.7%€6.5mabove the sector's middle half▲ 8.8%€7.2mabove the sector's middle half▲ 11.0%€7.9mabove the sector's middle half▲ 9.9%
Solvency37.1%-45.6%within the sector's middle half▲ 8.5pp47.6%within the sector's middle half▲ 2.0pp46.5%within the sector's middle half▼ 1.2pp53.0%within the sector's middle half▲ 6.5pp56.0%within the sector's middle half▲ 3.0pp59.1%within the sector's middle half▲ 3.1pp
Current ratio1.56-1.81within the sector's middle half▲ 0.251.84within the sector's middle half▲ 0.031.88within the sector's middle half▲ 0.042.13within the sector's middle half▲ 0.252.28within the sector's middle half▲ 0.152.39within the sector's middle half▲ 0.11
Return on assets (ROA)3.6%-5.6%within the sector's middle half▲ 1.9pp15.8%above the sector's middle half▲ 10.2pp8.0%within the sector's middle half▼ 7.8pp5.9%within the sector's middle half▼ 2.1pp5.8%within the sector's middle half▼ 0.1pp4.5%within the sector's middle half▼ 1.3pp
Staff (FTE)15.4-20.1within the sector's middle half24.5within the sector's middle half▲ 21.9%19.4within the sector's middle half▼ 20.8%15.3within the sector's middle half▼ 21.1%19.5within the sector's middle half▲ 27.5%
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 15% lower than in 2024 and the lowest since 2021.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €14.0m
Fixed assets
€433,643 ▼ 3.9%
Current assets
€13.6m ▲ 6.2%
Equity and liabilities €14.0m
Equity
€8.3m ▲ 11.7%
Provisions
€0 ▼ 100%
Debt
€5.7m ▲ 0.2%
Debt's share of the balance-sheet total falls from 43.2% to 40.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.2m▼
2024 · €1.3m
Cash flow
€823,559▼
2024 · €941,943
Quick ratio
1.05▲
2024 · 0.90
Debt to equity
0.69▼
2024 · 0.77
ROE
7.6%▼
2024 · 10.4%
Interest coverage
5.41▼
2024 · 6.49
Debt ≤ 1 year
€5.7m▲
2024 · €5.6m
Debt > 1 year
€35,876▼
2024 · €103,859
Income taxes
€200,772▼
2024 · €240,781
Customer credit
37 days▲
2024 · 36 days
Supplier credit
24 days▲
2024 · 22 days
Staff costs
€1.3m▲
2024 · €888,880
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 |
|---|---|---|---|
| Employees at the balance-sheet date | 26 | 17 | 16 |
| full-time | 23 | 16 | 14 |
| part-time | 3 | 1 | 2 |
| in full-time equivalents | 25.5 | 16.8 | 15.6 |
| Average over the year, in full-time equivalents | 24.4 | 19.4 | 15.3 |
| On a permanent contract | 26 | 17 | 16 |
| Joined | 10 | 5 | 4 |
| Left | 6 | 14 | 5 |
| Agency workers, average number | 1.5 | 1.9 | 3.7 |
| Training hours | - | 56 | - |
Source: social balance sheet in the 2022 to 2024 annual accounts
Securities and guarantees
| Item | 30-06-2020 | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €550,000 | €800,000 | €176,193 | - | - |
| Pledge on the business | - | €24,789 | €24,789 | €24,789 | - |
| Mandates to pledge the business | - | €61,973 | €61,973 | €61,973 | - |
Source: notes to the 2020 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-06-2020 | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €52,751 | €232,644 | €228,768 | €35,284 | €271,206 |
| Intangible fixed assets | - | - | - | - | €5,061 |
| Depreciation and write-downs of the year | €94,574 | €115,603 | €150,403 | €170,248 | €190,223 |
Source: notes to the 2020 to 2025 annual accounts (statement of fixed assets)
Auditor
| Item | 30-06-2020 | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|---|
| Fee for the audit | €5,930 | €8,055 | €11,185 | €11,867 | €12,615 |
Source: notes to the 2020 to 2025 annual accounts (relations with the auditor)
Subsidies and aid
Flemish government
2022 to 2025 · 8 entries · €16,279 awarded · €17,383 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €7,396 | €7,573 |
| 2024 | 2 | €2,705 | €2,481 |
| 2023 | 2 | €5,042 | €6,193 |
| 2022 | 2 | €1,136 | €1,136 |
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | €24.5m | - | €39.9m | €36.6m | €31.1m | €31.1m | ▼ 0.1% |
| Turnover70 | €23.4m | €23.9m | €27.9m | €39.1m | €35.8m | €30.5m | €30.4m | ▼ 0.3% |
| Other operating income74 | - | €0.6m | - | €0.8m | €0.8m | €0.6m | €0.6m | ▲ 10.7% |
| Non-recurring operating income76A | - | - | - | €0 | €0.01m | €0 | - | - |
| Operating charges60/66A | - | €23.6m | - | €38.6m | €35.5m | €30.0m | €30.1m | ▲ 0.5% |
| Goods for resale, raw materials and consumables60 | - | €20.4m | - | €31.9m | €29.6m | €24.5m | €24.6m | ▲ 0.4% |
| Purchases600/8 | - | €20.6m | - | €33.5m | €29.0m | €25.3m | €23.8m | ▼ 5.7% |
| Change in stocks: decrease (increase)609 | - | -€0.2m | - | -€1.6m | €0.6m | -€0.8m | €0.7m | - |
| Services and other goods61 | - | €2.0m | - | €4.5m | €4.0m | €3.8m | €3.7m | ▼ 2.6% |
| Remuneration, social security and pensions62 | - | €0.8m | - | €1.4m | €1.2m | €0.9m | €1.3m | ▲ 44.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.1m | €0.09m | €0.09m | €0.1m | €0.2m | €0.2m | €0.2m | ▲ 11.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €0.03m | - | -€0.09m | -€0.08m | -€0.1m | €256 | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €0.1m | €0 | - | -€0.1m | - |
| Other operating charges640/8 | - | €0.3m | - | €0.6m | €0.7m | €0.6m | €0.4m | ▼ 30.3% |
| Non-recurring operating charges66A | - | €0.05m | - | €0 | - | €0.1m | €0.01m | ▼ 88.0% |
| Operating profit (loss)9901 | €0.6m | €0.9m | €2.2m | €1.3m | €1.1m | €1.1m | €1.0m | ▼ 14.5% |
| Financial income75/76B | - | €0.1m | - | €0.2m | €0.3m | €0.2m | €0.2m | ▼ 3.6% |
| Recurring financial income75 | €0.1m | €0.1m | €0.1m | €0.2m | €0.3m | €0.2m | €0.2m | ▼ 3.6% |
| Income from current assets751 | - | - | - | €60 | €9 | €0.003m | €0 | ▼ 100% |
| Other financial income752/9 | - | €0.1m | - | €0.2m | €0.3m | €0.2m | €0.2m | ▼ 1.9% |
| Non-recurring financial income76B | - | - | - | €0 | - | - | - | - |
| Financial charges65/66B | - | €0.3m | - | €0.2m | €0.3m | €0.3m | €0.3m | ▲ 2.9% |
| Recurring financial charges65 | €0.2m | €0.3m | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | ▲ 2.9% |
| Debt charges650 | €0.1m | €0.2m | €0.08m | €0.07m | €0.2m | €0.2m | €0.2m | ▲ 6.8% |
| Other financial charges652/9 | - | €0.08m | - | €0.09m | €0.1m | €0.09m | €0.08m | ▼ 5.6% |
| Non-recurring financial charges66B | - | €0.01m | - | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €0.5m | €0.7m | €2.2m | €1.4m | €1.0m | €1.0m | €0.8m | ▼ 17.6% |
| Income taxes67/77 | €0.1m | €0.2m | €0.5m | €0.3m | €0.2m | €0.2m | €0.2m | ▼ 16.6% |
| Taxes670/3 | - | €0.2m | - | €0.3m | €0.2m | €0.2m | €0.2m | ▼ 16.6% |
| Profit (loss) for the period9904 | €0.3m | €0.5m | €1.7m | €1.1m | €0.8m | €0.8m | €0.6m | ▼ 17.9% |
| Profit (loss) for the period to be appropriated9905 | €0.3m | €0.5m | €1.7m | €1.1m | €0.8m | €0.8m | €0.6m | ▼ 17.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €9.2m | €8.5m | €11.0m | €13.2m | €12.8m | €13.2m | €14.0m | ▲ 5.9% |
| Fixed assets21/28 | €0.2m | €0.1m | €0.4m | €0.5m | €0.6m | €0.5m | €0.4m | ▼ 3.9% |
| Intangible fixed assets21 | €0.004m | €0.001m | €234 | €0 | - | - | - | - |
| Tangible fixed assets22/27 | €0.2m | €0.1m | €0.4m | €0.5m | €0.6m | €0.5m | €0.4m | ▼ 4.0% |
| Plant, machinery and equipment23 | - | €0.05m | - | €0.3m | €0.3m | €0.2m | €0.1m | ▼ 37.6% |
| Furniture and vehicles24 | - | €0.05m | - | €0.1m | €0.2m | €0.1m | €0.2m | ▲ 48.7% |
| Other tangible fixed assets26 | - | €0.04m | - | €0.1m | €0.1m | €0.09m | €0.08m | ▼ 11.9% |
| Financial fixed assets28 | €0.01m | €0 | - | - | - | - | €135 | - |
| Other financial fixed assets284/8 | - | €0 | - | - | - | - | €135 | - |
| Amounts receivable and cash guarantees285/8 | - | €0 | - | - | - | - | €135 | - |
| Current assets29/58 | €9.0m | €8.4m | €10.6m | €12.7m | €12.2m | €12.8m | €13.6m | ▲ 6.2% |
| Stocks and contracts in progress3 | €4.5m | €4.7m | €5.3m | €7.0m | €7.0m | €7.7m | €7.6m | ▼ 1.8% |
| Stocks30/36 | - | €4.7m | - | €7.0m | €7.0m | €7.7m | €7.6m | ▼ 1.8% |
| Goods purchased for resale34 | - | €4.7m | - | €7.0m | €6.4m | €7.2m | €6.5m | ▼ 10.2% |
| Advance payments36 | - | - | - | - | €0.6m | €0.5m | €1.1m | ▲ 113% |
| Amounts receivable within one year40/41 | €4.0m | €2.4m | €4.1m | €4.6m | €4.0m | €3.1m | €3.2m | ▲ 3.6% |
| Trade receivables40 | - | €2.3m | - | €4.5m | €3.9m | €3.0m | €3.1m | ▲ 2.3% |
| Other amounts receivable41 | - | €0.1m | - | €0.09m | €0.1m | €0.06m | €0.1m | ▲ 74.2% |
| Current investments50/53 | €0.01m | €0 | - | - | - | - | - | - |
| Other investments51/53 | - | €0 | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.5m | €1.3m | €1.2m | €1.0m | €1.2m | €2.0m | €2.7m | ▲ 39.5% |
| Deferred charges and accrued income490/1 | - | €0.006m | - | €0.08m | €0.02m | €0.01m | €0.07m | ▲ 335% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €9.2m | €8.5m | €11.0m | €13.2m | €12.8m | €13.2m | €14.0m | ▲ 5.9% |
| Equity10/15 | €3.4m | €3.9m | €5.2m | €6.1m | €6.8m | €7.4m | €8.3m | ▲ 11.7% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.1m | ▲ 64.5% |
| Capital10 | - | €0.06m | - | €0.06m | €0.06m | €0.06m | €0.1m | ▲ 64.5% |
| Issued capital100 | - | €0.06m | - | €0.06m | €0.06m | €0.06m | €0.1m | ▲ 64.5% |
| Reserves13 | €3.4m | €3.8m | €5.2m | €6.1m | €6.7m | €7.4m | €8.2m | ▲ 11.2% |
| Non-distributable reserves130/1 | - | €0.006m | - | €0.006m | €0.006m | €0.006m | €0.01m | ▲ 64.5% |
| Legal reserve130 | - | €0.006m | - | €0.006m | €0.006m | €0.006m | €0.01m | ▲ 64.5% |
| Distributable reserves133 | - | €3.8m | - | €6.1m | €6.7m | €7.3m | €8.2m | ▲ 11.2% |
| Profit (loss) carried forward14 | - | - | - | - | - | - | €0.001m | - |
| Provisions and deferred taxes16 | - | - | - | €0.1m | €0.1m | €0.1m | €0 | ▼ 100% |
| Provisions for liabilities and charges160/5 | - | - | - | €0.1m | €0.1m | €0.1m | €0 | ▼ 100% |
| Other liabilities and charges164/5 | - | - | - | €0.1m | €0.1m | €0.1m | €0 | ▼ 100% |
| Amounts payable17/49 | €5.8m | €4.6m | €5.8m | €7.0m | €5.9m | €5.7m | €5.7m | ▲ 0.2% |
| Amounts payable after more than one year17 | €0.01m | €0 | - | €0.2m | €0.2m | €0.1m | €0.04m | ▼ 65.5% |
| Financial debts170/4 | - | €0 | - | €0.2m | €0.2m | €0.1m | €0.04m | ▼ 65.5% |
| Credit institutions173 | - | €0 | - | €0.2m | €0.2m | €0.1m | €0.04m | ▼ 65.5% |
| Amounts payable within one year42/48 | €5.8m | €4.6m | €5.8m | €6.8m | €5.7m | €5.6m | €5.7m | ▲ 1.6% |
| Current portion of amounts payable after more than one year42 | - | €0.01m | - | €0.06m | €0.1m | €0.07m | €0.07m | ▲ 0.3% |
| Financial debts43 | - | €1.7m | - | €1.7m | €1.4m | €0.9m | €0.5m | ▼ 42.9% |
| Credit institutions430/8 | - | €1.7m | - | €1.7m | €1.4m | €0.9m | €0.5m | ▼ 42.9% |
| Trade debts44 | €1.4m | €0.7m | €2.0m | €2.2m | €1.1m | €1.4m | €1.6m | ▲ 9.5% |
| Suppliers440/4 | - | €0.7m | - | €2.2m | €1.1m | €1.4m | €1.6m | ▲ 9.5% |
| Advances received on contracts in progress46 | - | - | - | - | €0.3m | €0.6m | €0.09m | ▼ 86.3% |
| Taxes, remuneration and social security45 | - | €0.5m | - | €0.5m | €0.4m | €0.4m | €0.4m | ▲ 4.9% |
| Taxes450/3 | - | €0.3m | - | €0.3m | €0.3m | €0.2m | €0.2m | ▼ 7.2% |
| Remuneration and social security454/9 | - | €0.1m | - | €0.2m | €0.1m | €0.1m | €0.2m | ▲ 30.1% |
| Other amounts payable47/48 | - | €1.8m | - | €2.3m | €2.4m | €2.2m | €3.1m | ▲ 37.9% |
| Accrued charges and deferred income492/3 | - | €0.003m | - | €0.001m | €0.02m | €0.01m | €0.005m | ▼ 54.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.3m | €0.5m | €1.7m | €1.1m | €0.8m | €0.8m | €0.6m | ▼ 17.9% |
| + Depreciation and write-downs630 | €0.1m | €0.09m | €0.09m | €0.1m | €0.2m | €0.2m | €0.2m | ▲ 11.7% |
| Operating cash flow (approximation) | €0.5m | €0.6m | €1.8m | €1.2m | €0.9m | €0.9m | €0.8m | ▼ 12.6% |
| Investment in fixed assets (approximation) | - | -€0.04m | -€0.3m | -€0.2m | -€0.2m | -€0.04m | -€0.2m | ▼ 389% |
| Change in cash | - | €0.8m | -€0.1m | -€0.2m | €0.2m | €0.7m | €0.8m | ▲ 8.4% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 14,766 companies had the same profile as DARCOPACK has now. Two years later, 96.2% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
96.2%
was still going
3.5%
stopped otherwise
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DARCOPACK itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 14,766 companies, not a prediction for DARCOPACK. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 31 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | full format | 08-01-2026 | 2026-00004374 | |
| 30-06-2024 | full format | 31-01-2025 | 2025-00021944 | |
| 30-06-2023 | full format | 31-01-2024 | 2024-00017941 | |
| 30-06-2022 | full format | 03-01-2023 | 2023-20551810 | |
| 30-06-2021 | full format | 03-01-2022 | 2022-00100191 | |
| 30-06-2020 | full format | 06-01-2021 | 2021-00400295 | |
| 30-06-2019 | full format | 20-12-2019 | 2019-76800342 | |
| 30-06-2018 | full format | 07-12-2018 | 2018-73900384 | |
| 30-06-2017 | full format | 25-12-2017 | 2017-73600584 | |
| 30-06-2016 | full format | 29-12-2016 | 2016-72300078 |