DELFRA
ActiveSummary
DELFRA has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €170,918 and a net result of €8,546. Equity remains stable across the filed fiscal years (±0.1% per year). Its solvency ranks better than 41% of 11502 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability48▲+17
Solvency55▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12,000 at 30 days acceptable
short-term debt: 0.4% and cash: 40% of total assets, and 69.9% of the assets are financed with debt.
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Signals
Four 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
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
30.1%
Return on assets
1.5%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
on the day
2022
30 d late
2021
4 d late
2020
4 d early
2019
31 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 on the deadline day; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€170,918▲ 5.3%
2024 · €162,372
Total assets
€568,459▲ 1.2%
2024 · €561,773
Net result
€8,546▲ 856%
2024 · €894
Working capital
€243,224▲ 3.9%
2024 · €234,087
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€12,298-€22,984▼ 86.9%€4,205€4,015▼ 4.5%€11,601▲ 189%
Net result-€14,171below the sector's middle half-€28,413below the sector's middle half▼ 101%€10within the sector's middle half€894within the sector's middle half▲ 9,201%€8,546within the sector's middle half▲ 856%
Equity€189,882above the sector's middle half▼ 6.9%€161,469above the sector's middle half▼ 15.0%€161,479within the sector's middle half=€162,372within the sector's middle half▲ 0.6%€170,918within the sector's middle half▲ 5.3%
Total assets€585,790above the sector's middle half▼ 9.8%€563,229above the sector's middle half▼ 3.9%€562,230above the sector's middle half▼ 0.2%€561,773above the sector's middle half▼ 0.1%€568,459above the sector's middle half▲ 1.2%
Debt€395,908▼ 11.1%€401,760▲ 1.5%€400,752▼ 0.3%€399,400▼ 0.3%€397,540▼ 0.5%
Working capital€218,082above the sector's middle half▼ 6.8%€229,167above the sector's middle half▲ 5.1%€231,291above the sector's middle half▲ 0.9%€234,087above the sector's middle half▲ 1.2%€243,224above the sector's middle half▲ 3.9%
Solvency32.4%within the sector's middle half▲ 1.0pp28.7%within the sector's middle half▼ 3.7pp28.7%within the sector's middle half▲ 0.1pp28.9%within the sector's middle half▲ 0.2pp30.1%within the sector's middle half▲ 1.2pp
Current ratio49.28above the sector's middle half▲ 36.2644.33above the sector's middle half▼ 4.9643.36above the sector's middle half▼ 0.9755.80above the sector's middle half▲ 12.44
Return on assets (ROA)-2.4%below the sector's middle half▼ 7.0pp-5.0%below the sector's middle half▼ 2.6pp0.0%within the sector's middle half▲ 5.0pp0.2%within the sector's middle half▲ 0.2pp1.5%within the sector's middle half▲ 1.3pp
Staff (FTE)0.3▲ 200%1▲ 233%1=
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 189% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €568,459
Fixed assets
€322,799 ▼ 0.2%
Current assets
€245,660 ▲ 3.1%
Equity and liabilities €568,459
Equity
€170,918 ▲ 5.3%
Debt
€397,540 ▼ 0.5%
Debt's share of the balance-sheet total falls from 71.1% to 69.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€13,506▲
2024 · €5,875
Cash flow
€10,451▲
2024 · €2,754
Debt to equity
2.33▼
2024 · 2.46
ROE
5.0%▲
2024 · 0.6%
Interest coverage
3.24▲
2024 · 1.40
Debt ≤ 1 year
€2,435▼
2024 · €4,272
Debt > 1 year
€389,374=
2024 · €389,374
Income taxes
€164▲
2024 · €159
A ratio outside any meaningful range has been withheld (balance sheet total €568,459, equity €170,918).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,733 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 14,733 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
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €1,000 | - | - | - | - | - |
| Remuneration, social security and pensions62 | €16,051 | €16,496 | €13,531 | €623 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €34,682 | €35,261 | €4,691 | €1,860 | €1,905 | ▲ 2.4% |
| Other operating charges640/8 | €7,137 | €6,306 | €7,369 | €8,132 | €7,946 | ▼ 2.3% |
| Non-recurring operating charges66A | €4,467 | €330 | - | - | - | - |
| Gross operating margin9900 | €50,038 | €35,409 | €29,796 | €14,631 | €21,452 | ▲ 46.6% |
| Operating profit (loss)9901 | -€12,298 | -€22,984 | €4,205 | €4,015 | €11,601 | ▲ 189% |
| Financial income75/76B | €2,400 | €99 | €54 | €1,221 | €1,282 | ▲ 5.0% |
| Recurring financial income75 | €2,400 | €99 | €54 | €1,221 | €1,282 | ▲ 5.0% |
| Financial charges65/66B | €4,165 | €5,380 | €4,089 | €4,183 | €4,173 | ▼ 0.2% |
| Recurring financial charges65 | €4,165 | €5,380 | €4,089 | €4,183 | €4,173 | ▼ 0.2% |
| Profit (loss) for the period before taxes9903 | -€14,063 | -€28,264 | €170 | €1,052 | €8,710 | ▲ 728% |
| Income taxes67/77 | €108 | €149 | €161 | €159 | €164 | ▲ 3.2% |
| Profit (loss) for the period9904 | -€14,171 | -€28,413 | €10 | €894 | €8,546 | ▲ 856% |
| Profit (loss) for the period to be appropriated9905 | -€14,171 | -€28,413 | €10 | €894 | €8,546 | ▲ 856% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €585,790 | €563,229 | €562,230 | €561,773 | €568,459 | ▲ 1.2% |
| Fixed assets21/28 | €363,192 | €328,773 | €325,479 | €323,414 | €322,799 | ▼ 0.2% |
| Intangible fixed assets21 | €3,362 | €2,642 | €1,922 | €1,202 | €482 | ▼ 59.9% |
| Tangible fixed assets22/27 | €358,774 | €325,255 | €322,682 | €321,542 | €321,647 | = |
| Land and buildings22 | €352,969 | €319,323 | €316,481 | €316,481 | €316,481 | = |
| Plant, machinery and equipment23 | €1,115 | €836 | €1,826 | €1,407 | €2,233 | ▲ 58.7% |
| Furniture and vehicles24 | €4,690 | €5,096 | €4,375 | €3,654 | €2,933 | ▼ 19.7% |
| Financial fixed assets28 | €1,055 | €875 | €875 | €670 | €670 | = |
| Current assets29/58 | €222,599 | €234,456 | €236,751 | €238,359 | €245,660 | ▲ 3.1% |
| Stocks and contracts in progress3 | €25,338 | €19,302 | - | - | - | - |
| Stocks30/36 | €25,338 | €19,302 | - | - | - | - |
| Amounts receivable within one year40/41 | €22,593 | €17,427 | €22,662 | €9,578 | €15,962 | ▲ 66.7% |
| Trade receivables40 | €18,293 | €17,352 | €13,825 | €9,398 | €7,620 | ▼ 18.9% |
| Other amounts receivable41 | €4,300 | €75 | €8,837 | €180 | €8,343 | ▲ 4,546% |
| Cash at bank and in hand54/58 | €169,359 | €192,220 | €210,902 | €226,561 | €227,107 | ▲ 0.2% |
| Deferred charges and accrued income490/1 | €5,309 | €5,507 | €3,187 | €2,220 | €2,591 | ▲ 16.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €585,790 | €563,229 | €562,230 | €561,773 | €568,459 | ▲ 1.2% |
| Equity10/15 | €189,882 | €161,469 | €161,479 | €162,372 | €170,918 | ▲ 5.3% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €169,882 | €148,579 | €148,579 | €148,579 | €150,918 | ▲ 1.6% |
| Non-distributable reserves130/1 | €3,718 | €3,718 | €3,718 | - | - | - |
| Reserves not available under the articles1311 | €3,718 | €3,718 | €3,718 | - | - | - |
| Tax-exempt reserves132 | €42,072 | €42,072 | €42,072 | €42,072 | €42,072 | = |
| Distributable reserves133 | €124,091 | €102,788 | €102,788 | €106,507 | €108,846 | ▲ 2.2% |
| Profit (loss) carried forward14 | - | -€7,110 | -€7,100 | -€6,207 | - | - |
| Amounts payable17/49 | €395,908 | €401,760 | €400,752 | €399,400 | €397,540 | ▼ 0.5% |
| Amounts payable after more than one year17 | €389,374 | €389,374 | €389,374 | €389,374 | €389,374 | = |
| Financial debts170/4 | €389,374 | €389,374 | €389,374 | €389,374 | €389,374 | = |
| Amounts payable within one year42/48 | €4,517 | €5,289 | €5,460 | €4,272 | €2,435 | ▼ 43.0% |
| Trade debts44 | €1,579 | €383 | €958 | €1,542 | €488 | ▼ 68.4% |
| Suppliers440/4 | €1,579 | €383 | €958 | €1,542 | €488 | ▼ 68.4% |
| Taxes, remuneration and social security45 | €2,351 | €4,332 | €3,928 | €2,154 | €1,948 | ▼ 9.6% |
| Taxes450/3 | €146 | €1,823 | €1,534 | €653 | €1,948 | ▲ 198% |
| Remuneration and social security454/9 | €2,205 | €2,508 | €2,394 | €1,501 | - | - |
| Other amounts payable47/48 | €587 | €575 | €575 | €575 | - | - |
| Accrued charges and deferred income492/3 | €2,017 | €7,097 | €5,917 | €5,754 | €5,731 | ▼ 0.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€14,171 | -€28,413 | €10 | €894 | €8,546 | ▲ 856% |
| + Depreciation and write-downs630 | €34,682 | €35,261 | €4,691 | €1,860 | €1,905 | ▲ 2.4% |
| Operating cash flow (approximation) | €20,512 | €6,849 | €4,701 | €2,754 | €10,451 | ▲ 279% |
| Investment in fixed assets (approximation) | - | -€842 | -€1,398 | €205 | -€1,290 | ▼ 729% |
| Change in cash | - | €22,862 | €18,682 | €15,659 | €546 | ▼ 96.5% |
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 2026, expected by
2026
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Back to profitnet €10
Net result €10 after 2 loss-making years.
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
04-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 4 days late
2021
30-09
Financial
Liquidity quadruplescurrent ratio 49.28
Current ratio from 13.02 to 49.28; short-term debt falls from €19,464 to €4,517.
26-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Highest result since 2018net €29,911 ▲56.6%
Operating result €34,313, net result €29,911, both a record.
30-09
Financial
Equity above €200,000Eq €204,053 ▲17.2%
2 profitable years in a row build equity to €204,053.
30-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Back to profitnet €19,101
Net result €19,101 after one loss-making year.
Show earlier events
30-09
Financial
Liquidity triplescurrent ratio 17.30
Current ratio from 6.57 to 17.30; short-term debt falls from €28,686 to €11,011.
20-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 20 days late
2018
09-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-04
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.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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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, Lede · 1 establishment unit since 1998
Ground area
6,912 m²
Building footprint
1,388 m²
Volume, LiDAR
9,601 m³
2 parcels, Flanders · tallest building 10.5 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
DELFRA BVBA
since 19982.086.486.133
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41034C0778/00B000 | Flanders | 5,221 m² | 1 · 1,152 m² | 10.5 m · 3 fl. |
| 41034C0804/00A000 | Flanders | 1,692 m² | 1 · 236 m² | 10.4 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 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
2022 to 2024 · 3 entries · 4,544 EUR awarded · 4,544 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 248 EUR | 248 EUR |
| 2023 | 1 | 1,990 EUR | 1,990 EUR |
| 2022 | 1 | 2,306 EUR | 2,306 EUR |
Recognitions · licences · registrations
Food safety, FASFC
1 siteLede2.086.486.133
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Of 69 companies in sector 46332 we hold annual accounts for 28. 16 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded21-04-1998
Fiscal year end30-09
Activities, NACEBEL 2025
46332Wholesale trade
52241Warehousing and support activities for transportation
52249Warehousing and support activities for transportation
Contact
E-mail
delfrabvba@skynet.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0463176384
Also
9925:BE0463176384
Registered
28-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.