DEL'OR
ActiveDEL'OR has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €880k and a net result of €152k. Equity is growing by ~11.3% per year across the filed fiscal years. Its solvency ranks better than 37% of 267 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
72
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability77▲+3
Solvency65▲+12
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60k at 30 days acceptable
Liquidity short (current ratio 0.84 against 0.69 in 2024; short-term debt: 27.2% and cash: 2.7% of total assets), and 60.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 20
Relative position
BE, all sectors
reference
Sector 20
lower
← fewer bankruptcies
more bankruptcies →
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
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
39.6%
Return on assets
6.8%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
28 d early
2023
51 d early
2022
60 d early
2021
83 d early
2020
81 d early
2019
31 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
20-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€691k
EBIT margin
14.1%
Net result
€152k▲ 33.0%
2024 · €114k
2018: €57k
2020: €37k
2021: €44k
2022: €-263k
2023: €104k
2024: €114k
2018 → 2025
Working capital
€-95k▲ 69.5%
2024 · €-310k
2018: €-108k
2020: €-244k
2021: €-346k
2022: €-646k
2023: €-405k
2024: €-310k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€772k-€509k▼ 34.1%€613k▲ 20.5%€728k▲ 18.7%€880k▲ 20.9%
Operating result€97k-€-227k€141k€160k▲ 13.8%€226k▲ 41.0%
Net result€44k-€-263k€104k€114k▲ 9.8%€152k▲ 33.0%
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 41% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.22M
Fixed assets
€1.71M▼ 12.1%
Current assets
€511k▼ 25.4%
Equity and liabilities €2.22M
Equity
€880k▲ 20.9%
Debt
€1.34M▼ 29.5%
The debt ratio falls from 72.4% to 60.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€462k▲
2024 · €406k
Cash flow
€388k▲
2024 · €359k
Solvency
39.6%▲
2024 · 27.6%
Current ratio
0.84▲
2024 · 0.69
Quick ratio
0.83▲
2024 · 0.68
Debt / equity
1.53▼
2024 · 2.62
ROE
17.3%▲
2024 · 15.7%
ROA
6.8%▲
2024 · 4.3%
Interest coverage
13.30▲
2024 · 8.86
Debt
€1.34M▼
2024 · €1.91M
Debt ≤ 1 year
€606k▼
2024 · €995k
Debt > 1 year
€452k▼
2024 · €589k
Income taxes
€39k▲
2024 · €305
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€2.63M€2.22M▼
Fixed assets21/28€1.95M€1.71M▼
Intangible fixed assets21€21k€17k▼
Tangible fixed assets22/27€1.93M€1.70M▼
Land and buildings22€1.62M€1.49M▼
Plant, machinery and equipment23€268k€181k▼
Leasing and similar rights25€37k€26k▼
Current assets29/58€685k€511k▼
Stocks and contracts in progress3€6k€8k▲
Stocks30/36€6k€8k▲
Amounts receivable within one year40/41€638k€435k▼
Trade receivables40€638k€435k▼
Cash at bank and in hand54/58€32k€59k▲
Deferred charges and accrued income490/1€8k€9k▲
Equity and liabilities
Total equity and liabilities10/49€2.63M€2.22M▼
Equity10/15€728k€880k▲
Contributions10/11€169k€169k=
Capital10€169k€169k=
Issued capital100€169k€169k=
Reserves13€557k€707k▲
Non-distributable reserves130/1€17k€17k=
Legal reserve130€17k€17k=
Distributable reserves133€540k€690k▲
Profit (loss) carried forward14€2k€4k▲
Amounts payable17/49€1.91M€1.34M▼
Amounts payable after more than one year17€589k€452k▼
Financial debts170/4€589k€452k▼
Amounts payable within one year42/48€995k€606k▼
Current portion of amounts payable after more than one year42€157k€137k▼
Trade debts44€141k€125k▼
Suppliers440/4€141k€125k▼
Taxes, remuneration and social security45€59k€68k▲
Taxes450/3€54k€68k▲
Remuneration and social security454/9€5k€0▼
Other amounts payable47/48€637k€276k▼
Accrued charges and deferred income492/3€321k€286k▼
Income statement
Code20242025
Non-recurring operating income76A€2k€5k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€245k€235k▼
Other operating charges640/8€17k€17k▲
Gross operating margin9900€423k€479k▲
Operating profit (loss)9901€160k€226k▲
Financial income75/76B€13€4▼
Recurring financial income75€13€4▼
Financial charges65/66B€46k€35k▼
Recurring financial charges65€46k€35k▼
Profit (loss) for the period before taxes9903€115k€192k▲
Income taxes67/77€305€39k▲
Profit (loss) for the period9904€114k€152k▲
Profit (loss) for the period to be appropriated9905€114k€152k▲
Appropriation of the result
Profit (loss) to be appropriated9906€117k€154k▲
Profit (loss) brought forward from the previous period14P€3k€2k▼
Transfer to equity691/2€115k€150k▲
To other reserves6921€115k€150k▲
Social balance
Average headcount (FTE)90870.00.0=
The notes to these accounts (20 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2018net €152k ▲33%
Operating result €226k, net result €152k, both a record.
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
10-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €104k
Net result €104k after one loss-making year.
01-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet €-263k ▼694%
Net result drops to €-263k, the lowest in the series; recovery starts the following year.
09-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
11-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €500kEq €728k ▲103%
2 profitable years in a row build equity to €728k.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 31 days late
2019
22-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 22 days late
2018
20-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 20 days late
2017
21-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 21 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2019
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
13-05-2019
Arne Leuridan: Resigned as Director
13-05-2019
Paul Ghekiere: Resigned as Director
Location & real-estate footprint
Registered office, Waregem · 2 establishment units since 2006
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Emiel Clausstraat 238793 WaregemGround area
4.4 ha
Building footprint
2,617 m²
Volume, LiDAR
8,542 m³
3 parcels, Flanders · tallest building 9.3 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
Del'Or
since 20062.151.345.281
Del'Or
since 20192.296.496.180
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38022A0845/00B000 | Flanders | 1.8 ha | 1 · 1,280 m² | 9.3 m · 1 fl. |
| 34035A0042/00W000 | Flanders | 1.5 ha | 1 · 484 m² | 7.5 m · 2 fl. |
| 35001B0408/00C003 | Flanders | 1.1 ha | 1 · 853 m² | 4.3 m |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 2
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 5,123 EUR awarded · 5,123 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 5,123 EUR | 5,123 EUR |
Schemes
Energiesteun 2 (stopgezet)
Recognitions · licences · registrations
Food safety, FASFC
1 siteAlveringem2.151.345.281
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Of 76 companies in sector 20150 we hold annual accounts for 63. 40 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded23-01-2006
Fiscal year end31-12
Activities, NACEBEL
20150Manufacture of chemicals and chemical products
24151
Sources
Crossroads Bank for EnterprisesNational Bank · 20 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.