DELBOR
ActiveSummary
DELBOR has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €108,559 and a net result of €40,426. Equity is shrinking by ~11.2% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2029. Its solvency ranks better than 26% of 59 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2026
Axes · tick = 2025
Profitability52▼-25
Solvency40▲+4
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity tight (current ratio 1.18 against 1.12 in 2025; short-term debt: 84.9% and cash: 0.4% of total assets), and 84.9% 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○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← 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 2026Solvency, return and age of the figures
Solvency
15.1%
Return on assets
5.6%
Age of the figures
8 mo
lowers risk · Growing equity
Reported equity is higher than in 2024 and did not fall compared with 2025. These amounts do not establish the cause of the change.
NBB · annual accounts 2026Equity per financial year
1920212223242526
2019 to 2026 · latest year €108,559
neutral · Latest accounts filed on time
The financial year that closed on 31-01-2026 was due by 31-08-2026 and was filed on 17-07-2026, 45 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
45 d early
2025
45 d early
2024
11 d early
2023
55 d early
2022
47 d early
2021
49 d early
2020
49 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 43 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-01-2027 and is due by 31-08-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-01-2027 close31-08-2027 deadline
History
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Financials · fiscal year 2026, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€40,426▼ 6.0%
2025 · €43,027
Working capital
€108,559▲ 59.3%
2025 · €68,133
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20222023202420252026
Operating result€46,333▲ 26.0%€52,449▲ 13.2%€62,441▲ 19.1%€66,070▲ 5.8%€77,723▲ 17.6%
Net result€23,312▲ 30.6%€38,969▲ 67.2%€34,143▼ 12.4%€43,027▲ 26.0%€40,426▼ 6.0%
Equity€435,328▲ 5.7%€474,296▲ 9.0%€65,106▼ 86.3%€68,133▲ 4.6%€108,559▲ 59.3%
Total assets€812,011▲ 7.2%€935,657▲ 15.2%€923,675▼ 1.3%€636,062▼ 31.1%€719,767▲ 13.2%
Debt€361,704▲ 4.6%€461,361▲ 27.6%€858,569▲ 86.1%€567,929▼ 33.9%€611,208▲ 7.6%
Working capital€54,258▲ 1,509%€97,581▲ 79.8%€65,106▼ 33.3%€68,133▲ 4.6%€108,559▲ 59.3%
Staff (FTE)31.2▲ 11.0%32.4▲ 3.8%33.8▲ 4.3%34.9▲ 3.3%36.9▲ 5.7%
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2026 is 18% above 2025 and is the highest result in the available series.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Equity and liabilities €719,767
Equity
€108,559 ▲ 59.3%
Debt
€611,208 ▲ 7.6%
Debt's share of the balance-sheet total falls from 89.3% to 84.9%. Equity and debt are higher.
Key figures and ratios
Current ratio
1.18▲
2025 · 1.12
Debt to equity
5.63▼
2025 · 8.34
ROE
37.2%▼
2025 · 63.2%
ROA
5.6%▼
2025 · 6.8%
Debt ≤ 1 year
€611,208▲
2025 · €567,929
Income taxes
€37,119▲
2025 · €22,862
Staff costs
€2.9m▲
2025 · €2.6m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €1.8m | €2.1m | €2.4m | €2.6m | €2.9m | ▲ 12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24,374 | €24,374 | €12,187 | €0 | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €14,979 | -€14,979 | €0 | - | - | - |
| Other operating charges640/8 | €4,044 | €3,767 | €4,133 | €387 | €998 | ▲ 158% |
| Gross operating margin9900 | €1.9m | €2.1m | €2.5m | €2.6m | €3.0m | ▲ 12.7% |
| Operating profit (loss)9901 | €46,333 | €52,449 | €62,441 | €66,070 | €77,723 | ▲ 17.6% |
| Financial charges65/66B | €839 | €480 | €134 | €181 | €178 | ▼ 1.9% |
| Recurring financial charges65 | €839 | €480 | €134 | €181 | €178 | ▼ 1.9% |
| Profit (loss) for the period before taxes9903 | €45,493 | €51,969 | €62,308 | €65,889 | €77,545 | ▲ 17.7% |
| Income taxes67/77 | €22,182 | €13,000 | €28,164 | €22,862 | €37,119 | ▲ 62.4% |
| Profit (loss) for the period9904 | €23,312 | €38,969 | €34,143 | €43,027 | €40,426 | ▼ 6.0% |
| Transfer from tax-exempt reserves789 | €5,441 | €0 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €28,753 | €38,969 | €34,143 | €43,027 | €40,426 | ▼ 6.0% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €812,011 | €935,657 | €923,675 | €636,062 | €719,767 | ▲ 13.2% |
| Fixed assets21/28 | €402,290 | €377,916 | €0 | - | - | - |
| Tangible fixed assets22/27 | €402,290 | €377,916 | €0 | - | - | - |
| Land and buildings22 | €402,290 | €377,916 | €0 | - | - | - |
| Current assets29/58 | €409,721 | €557,741 | €923,675 | €636,062 | €719,767 | ▲ 13.2% |
| Amounts receivable within one year40/41 | €407,562 | €556,512 | €920,325 | €632,840 | €715,433 | ▲ 13.1% |
| Trade receivables40 | €403,905 | €543,949 | €920,000 | €630,800 | €713,251 | ▲ 13.1% |
| Other amounts receivable41 | €3,657 | €12,564 | €325 | €2,040 | €2,182 | ▲ 7.0% |
| Cash at bank and in hand54/58 | €1,626 | €599 | €2,843 | €2,697 | €2,801 | ▲ 3.9% |
| Deferred charges and accrued income490/1 | €533 | €629 | €507 | €525 | €1,533 | ▲ 192% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €812,011 | €935,657 | €923,675 | €636,062 | €719,767 | ▲ 13.2% |
| Equity10/15 | €435,328 | €474,296 | €65,106 | €68,133 | €108,559 | ▲ 59.3% |
| Contributions10/11 | €6,205 | €6,205 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | - | - | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | - | - | €61,500 | €61,500 | €61,500 | = |
| Outside capital11 | - | - | €0 | - | - | - |
| Other1109/19 | - | - | €0 | - | - | - |
| Reserves13 | €429,122 | €468,091 | €3,606 | €6,633 | €47,059 | ▲ 609% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €2,219 | €4,419 | €6,150 | ▲ 39.2% |
| Legal reserve130 | - | - | €2,219 | €4,419 | €6,150 | ▲ 39.2% |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €0 | - | - | - |
| Tax-exempt reserves132 | €0 | - | - | - | - | - |
| Distributable reserves133 | €427,262 | €466,231 | €1,387 | €2,214 | €40,909 | ▲ 1,748% |
| Profit (loss) carried forward14 | - | - | €0 | €0 | €0 | - |
| Provisions and deferred taxes16 | €14,979 | €0 | - | - | - | - |
| Provisions for liabilities and charges160/5 | €14,979 | €0 | - | - | - | - |
| Pensions and similar obligations160 | €14,979 | €0 | - | - | - | - |
| Amounts payable17/49 | €361,704 | €461,361 | €858,569 | €567,929 | €611,208 | ▲ 7.6% |
| Amounts payable after more than one year17 | €4,641 | €0 | - | - | - | - |
| Financial debts170/4 | €4,641 | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €355,463 | €460,161 | €858,569 | €567,929 | €611,208 | ▲ 7.6% |
| Current portion of amounts payable after more than one year42 | €11,000 | €4,641 | €0 | - | - | - |
| Trade debts44 | €10,081 | €34,031 | €280,173 | €25,541 | €29,023 | ▲ 13.6% |
| Suppliers440/4 | €10,081 | €34,031 | €280,173 | €25,541 | €29,023 | ▲ 13.6% |
| Taxes, remuneration and social security45 | €334,382 | €421,488 | €488,397 | €502,387 | €582,186 | ▲ 15.9% |
| Taxes450/3 | €29,225 | €32,023 | €25,805 | €32,247 | €43,552 | ▲ 35.1% |
| Remuneration and social security454/9 | €305,157 | €389,465 | €462,592 | €470,141 | €538,634 | ▲ 14.6% |
| Other amounts payable47/48 | - | - | €90,000 | €40,000 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | €1,600 | €1,200 | €0 | - | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,312 | €38,969 | €34,143 | €43,027 | €40,426 | ▼ 6.0% |
| + Depreciation and write-downs630 | €24,374 | €24,374 | €12,187 | €0 | - | - |
| Operating cash flow (approximation) | €47,686 | €63,343 | €46,331 | €43,027 | €40,426 | ▼ 6.0% |
| Investment in fixed assets (approximation) | - | €0 | €365,728 | - | - | - |
| Change in cash | - | -€1,027 | €2,244 | -€146 | €104 | ▲ 171% |
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 2027, expected by
2026
17-07
NBB filing
Annual accounts filed
fiscal year 2026 · full schema
31-01
Financial
Equity above €100,000Eq €108,559 ▲59.3%
8 profitable years in a row build equity to €108,559.
2025
17-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-01
Financial
Highest result since 2019net €43,027 ▲26%
Net result €43,027, the highest in the series.
2024
20-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
07-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
15-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
13-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
18-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
10-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
13-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Deerlijk · 1 establishment unit since 1994
Ground area
3.2 ha
Building footprint
1.8 ha
Volume, LiDAR
128,464 m³
Parcel 34392C0592/00F002, Flanders · tallest building 12.2 m, ±2 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
PODIUM
since 19942.065.471.181
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34392C0592/00F002 | Flanders | 3.2 ha | 1 · 1.8 ha | 12.2 m · 2 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 12,042 companies in sector 68203 we hold annual accounts for 5,993. 3,838 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
Founded19-01-1994
Fiscal year end31-01
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
82100Office administrative and support services
Scores and ratios are computed by Checked and are not a credit decision.