DELFAN
ActiveDELFAN has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €31k and a net result of €-74k. Equity is growing by ~32.6% per year across the filed fiscal years. Its solvency ranks better than 15% of 7930 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
2
/ 100
Critical▼ -31 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-100
Solvency12▼-11
Growth32▼-46
Stability100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.83 against 0.97 in 2024), and 92.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
7.7%
Return on assets
-18.3%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 7930 sector peers (2025).
NBB · sector comparisonPosition among 7930 sector peers
Solvency
better than 15%
← weakest
strongest →
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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
28 d late
2023
30 d late
2022
31 d late
2021
31 d late
2020
16 d early
2019
27 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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€31k▼ 70.5%
2024 · €105k
2018: €33k
2019: €6k
2020: €6k
2021: €40k
2022: €59k
2023: €75k
2024: €105k
2018 → 2025
Total assets
€404k▼ 26.5%
2024 · €550k
2018: €603k
2019: €580k
2020: €668k
2021: €623k
2022: €634k
2023: €559k
2024: €550k
2018 → 2025
Net result
€-74k
2024 · €30k
2018: €19k
2019: €-27k
2020: €324
2021: €33k
2022: €19k
2023: €17k
2024: €30k
2018 → 2025
Working capital
€-63k▼ 389%
2024 · €-13k
2018: €-14k
2019: €-44k
2020: €-40k
2021: €-73k
2022: €-75k
2023: €-45k
2024: €-13k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€40k-€59k▲ 48.4%€75k▲ 28.1%€105k▲ 39.5%€31k▼ 70.5%
Operating result€-12k-€-104k▼ 738%€-136k▼ 30.9%€-102k▲ 25.1%€-165k▼ 61.7%
Net result€33k-€19k▼ 42.5%€17k▼ 13.8%€30k▲ 79.9%€-74k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €165k in 2025 against €102k in 2024; the loss grows and 2025 is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €404k
Fixed assets
€107k▼ 25.5%
Current assets
€298k▼ 26.8%
Equity and liabilities €404k
Equity
€31k▼ 70.5%
Debt
€373k▼ 16.1%
The debt ratio rises from 80.9% to 92.3%: equity shrinks faster than debt is paid down.
Key figures and ratios
EBITDA
€-118k▼
2024 · €-57k
Cash flow
€-28k▼
2024 · €74k
Solvency
7.7%▼
2024 · 19.1%
Current ratio
0.83▼
2024 · 0.97
Quick ratio
0.34▼
2024 · 0.47
Debt / equity
12.04▲
2024 · 4.23
ROE
-239.1%▼
2024 · 28.3%
ROA
-18.3%▼
2024 · 5.4%
Interest coverage
-50.88▼
2024 · -20.91
Debt
€373k▼
2024 · €445k
Debt ≤ 1 year
€361k▼
2024 · €420k
Debt > 1 year
€13k▼
2024 · €25k
Income taxes
€754▼
2024 · €16k
Staff costs
€239k▲
2024 · €226k
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€550k€404k▼
Fixed assets21/28€143k€107k▼
Tangible fixed assets22/27€143k€107k▼
Land and buildings22€31k€31k=
Plant, machinery and equipment23€55k€41k▼
Furniture and vehicles24€9k€2k▼
Leasing and similar rights25€48k€32k▼
Current assets29/58€407k€298k▼
Amounts receivable after more than one year29€6k€0▼
Other amounts receivable291€6k€0▼
Stocks and contracts in progress3€212k€177k▼
Stocks30/36€212k€177k▼
Amounts receivable within one year40/41€112k€114k▲
Trade receivables40€110k€98k▼
Other amounts receivable41€2k€16k▲
Cash at bank and in hand54/58€75k€5k▼
Deferred charges and accrued income490/1€3k€2k▼
Equity and liabilities
Total equity and liabilities10/49€550k€404k▼
Equity10/15€105k€31k▼
Contributions10/11€19k€19k=
Reserves13€87k€30k▼
Distributable reserves133€87k€30k▼
Profit (loss) carried forward14-€-17k
Amounts payable17/49€445k€373k▼
Amounts payable after more than one year17€25k€13k▼
Financial debts170/4€25k€13k▼
Amounts payable within one year42/48€420k€361k▼
Current portion of amounts payable after more than one year42€14k€12k▼
Financial debts43€9k€10k▲
Credit institutions430/8€9k€10k▲
Trade debts44€322k€257k▼
Suppliers440/4€322k€257k▼
Taxes, remuneration and social security45€70k€71k▲
Taxes450/3€31k€26k▼
Remuneration and social security454/9€39k€45k▲
Other amounts payable47/48€5k€10k▲
Income statement
Code20242025
Remuneration, social security and pensions62€226k€239k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€44k€46k▲
Other operating charges640/8€6k€5k▼
Gross operating margin9900€175k€126k▼
Operating profit (loss)9901€-102k€-165k▼
Financial income75/76B€150k€93k▼
Recurring financial income75€150k€93k▼
Financial charges65/66B€3k€2k▼
Recurring financial charges65€3k€2k▼
Profit (loss) for the period before taxes9903€46k€-73k▼
Income taxes67/77€16k€754▼
Profit (loss) for the period9904€30k€-74k▼
Profit (loss) for the period to be appropriated9905€30k€-74k▼
Appropriation of the result
Profit (loss) to be appropriated9906€30k€-74k▼
Transfer from equity791/2-€57k
Transfer to equity691/2€30k€0▼
To other reserves6921€30k€0▼
Social balance
Average headcount (FTE)90872.72.8▲
The notes to these accounts (12 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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €-74k ▼349%
Net result drops to €-74k, the lowest in the series.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 28 days late
2024
31-12
Financial
Equity above €100kEq €105k ▲39.5%
5 profitable years in a row build equity to €105k.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Highest result since 2018net €33k ▲10196%
Net result €33k, the highest in the series.
15-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €324
Net result €324 after one loss-making year.
27-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 27 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 28 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
2017
10-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Moorslede · 1 establishment unit since 2003
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.
Kortrijksestraat 968890 MoorsledeGround area
517 m²
Building footprint
306 m²
Volume, LiDAR
1,591 m³
Parcel 36003B0234/00R004, Flanders · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Delfan
since 20032.125.822.009
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36003B0234/00R004 | Flanders | 517 m² | 1 · 306 m² | 9.0 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
549300JSUV1NPTEQS483
Similar companies · same sector, comparable size
VIRGO
BE 0867.843.162
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HAUTE FASHION CONSULTANCY
BE 0865.151.314
Kalmthout · Eq €31k
Jane-S & CO
BE 0707.945.788
Lo-Reninge · Eq €31k
SO GLAM
BE 0600.958.352
Putte · Eq €30k
DEPECO
BE 0758.464.675
Zulte · Eq €30k
Of 1,268 companies in sector 46160 we hold annual accounts for 682. 488 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded10-11-1997
Fiscal year end31-12
Activities, NACEBEL
46160Agents in the wholesale of textiles, clothing, fur, footwear and leather goods
46421Wholesale trade
51421
46422Wholesale trade
46424Wholesale trade
46425Wholesale trade
46499Wholesale of other household goods
47519Retail trade
Sources
Crossroads Bank for EnterprisesNational Bank · 28 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.