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DELHER

Active
Public limited companyfounded 20233 yrs activePlace de St Symphorien 24, 7030 Mons, BelgiumKBO/BCE: BE 0805.647.653
Summary

The computed 12-month bankruptcy probability of DELHER is 2.7% (moderate). The 2025 annual accounts show negative equity (-€9,998) and a net result of -€2,220. Its solvency ranks better than 9% of 663 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.

Checked score

Score 2025
Axes · tick = 2024
Profitability48▲+39
Solvency24=
Growth58
Track record94
Bankruptcy probability, 12 months
2.7% Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.22 against 0.34 in 2024; short-term debt: 41.6% and cash: 1.2% of total assets), and equity is negative.
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Signals

Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 3 years 0 10 y
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 10
Relative position
BE, all sectors
reference
Manufacture of food products (NACE 10)
about 60% more bankruptcies
← 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 2025
Solvency, return and age of the figures
Solvency
-1.3%
Return on assets
-0.3%
Age of the figures
9 mo
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025
Equity per financial year
2425
2024 to 2025 · latest year -€9,998
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 14-07-2026, 17 days ahead of the deadline.
NBB · 2 filings
Deviation from the deadline
2025
17 d early
2024
on the day
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 2 accounts on average 9 days before the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% of the sector filed late.

Checked, nothing found (2)
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 months
Position in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 8 September 2023, DELHER was incorporated as a Public limited company.1 The company has filed 2 sets of annual accounts, the latest for fiscal year 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2025

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Financials · fiscal year 2025, full schema

Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€2,220▲ 96.8%
2024 · -€69,278
Working capital
-€253,289▼ 9.3%
2024 · -€231,724
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 10, Manufacture of food products, 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
Line20242025
Operating result-€50,844-€25,354
Net result-€69,278below the sector's middle half--€2,220below the sector's middle half▲ 96.8%
Equity-€7,778below the sector's middle half--€9,998below the sector's middle half▼ 28.5%
Total assets€892,975below the sector's middle half-€777,416below the sector's middle half▼ 12.9%
Debt€900,753-€787,414▼ 12.6%
Working capital-€231,724below the sector's middle half--€253,289below the sector's middle half▼ 9.3%
Solvency-0.9%below the sector's middle half--1.3%below the sector's middle half▼ 0.4pp
Current ratio0.34below the sector's middle half-0.22below the sector's middle half▼ 0.13
Return on assets (ROA)-7.8%below the sector's middle half--0.3%below the sector's middle half▲ 7.5pp
Staff (FTE)3.6below the sector's middle half-9.2below the sector's middle half▲ 156%
above within below the middle half (P25 to P75) of NACE 10, Manufacture of food products, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
-€75,000-€50,000-€25,000€0€25,000Operating result 2024: -€50,844-€50,844Net result 2024: -€69,278-€69,278Operating result 2025: €25,354€25,354Net result 2025: -€2,220-€2,22020242025-€75,000-€50,000-€25,000€0€25,000Operating result 2024: -€50,844-€50,800Net result 2024: -€69,278-€69,300Operating result 2025: €25,354€25,400Net result 2025: -€2,220-€2,22020242025
The operating result returns to profit in 2025: €25,354 after a loss of €50,844 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €760,777
Fixed assets €690,923 ▼ 7.8%
Current assets €69,854 ▼ 42.7%
Key figures and ratios
2025 value · change against 2024
EBITDA
€101,682▲
2024 · -€17,416
Cash flow
€74,109▲
2024 · -€35,850
Quick ratio
0.17▼
2024 · 0.32
Debt to equity
-78.76
Interest coverage
3.59▲
2024 · -1.23
Debt ≤ 1 year
€323,143▼
2024 · €353,643
Debt > 1 year
€459,973▼
2024 · €546,479
Income taxes
-€750▼
2024 · €5,000
Staff costs
€329,729▲
2024 · €145,173
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 1,554 companies that looked in July 2024 the way this one looks now, 4.1% went bankrupt within 24 months and 91% are still going.

  • Micro
  • 2 to 5 years old
  • negative equity
  • a small loss
4.1% went bankrupt
3.5% stopped otherwise
91% still going

A further 1.0% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 2.7% 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%.

The companies in ten equal groups, from lowest to highest expected share.
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 1,554 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 52 lines
Balance sheet Code20242025
Assets
Total assets20/58€892,975€777,416▼
Formation expenses20€21,367€16,639▼
Fixed assets21/28€749,689€690,923▼
Tangible fixed assets22/27€749,689€690,923▼
Plant, machinery and equipment23€224,648€190,377▼
Furniture and vehicles24€4,002€6,650▲
Other tangible fixed assets26€519,839€493,896▼
Assets under construction and advance payments27€1,200€0▼
Current assets29/58€121,918€69,854▼
Stocks and contracts in progress3€10,265€16,200▲
Stocks30/36€10,265€16,200▲
Amounts receivable within one year40/41€100,080€36,073▼
Trade receivables40€16,545€27,102▲
Other amounts receivable41€83,535€8,971▼
Cash at bank and in hand54/58€6,178€9,046▲
Deferred charges and accrued income490/1€5,395€8,535▲
Equity and liabilities
Total equity and liabilities10/49€892,975€777,416▼
Equity10/15-€7,778-€9,998▼
Contributions10/11€61,500€61,500=
Capital10€61,500€61,500=
Issued capital100€61,500€61,500=
Profit (loss) carried forward14-€69,278-€71,498▼
Amounts payable17/49€900,753€787,414▼
Amounts payable after more than one year17€546,479€459,973▼
Financial debts170/4€546,479€459,973▼
Amounts payable within one year42/48€353,643€323,143▼
Current portion of amounts payable after more than one year42€83,216€86,506▲
Trade debts44€81,404€62,066▼
Suppliers440/4€81,404€62,066▼
Taxes, remuneration and social security45€16,990€46,930▲
Taxes450/3-€2,178
Remuneration and social security454/9€16,990€44,753▲
Other amounts payable47/48€172,033€127,641▼
Accrued charges and deferred income492/3€631€4,298▲
Income statement Code20242025
Non-recurring operating income76A€8,605€20▼
Remuneration, social security and pensions62€145,173€329,729▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€33,428€76,328▲
Other operating charges640/8€583€3,023▲
Non-recurring operating charges66A€8,087€13,515▲
Gross operating margin9900€136,427€447,949▲
Operating profit (loss)9901-€50,844€25,354▲
Financial income75/76B€705€0▼
Recurring financial income75€705€0▼
Financial charges65/66B€14,139€28,323▲
Recurring financial charges65€14,139€28,323▲
Profit (loss) for the period before taxes9903-€64,278-€2,970▲
Income taxes67/77€5,000-€750▼
Profit (loss) for the period9904-€69,278-€2,220▲
Profit (loss) for the period to be appropriated9905-€69,278-€2,220▲
Appropriation of the result
Profit (loss) to be appropriated9906-€69,278-€71,498▼
Profit (loss) brought forward from the previous period14P--€69,278
Social balance
Average headcount (FTE)90873.69.2▲

The notes to these accounts (21 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20242025Change
Non-recurring operating income76A€8,605€20▼ 99.8%
Remuneration, social security and pensions62€145,173€329,729▲ 127%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€33,428€76,328▲ 128%
Other operating charges640/8€583€3,023▲ 419%
Non-recurring operating charges66A€8,087€13,515▲ 67.1%
Gross operating margin9900€136,427€447,949▲ 228%
Operating profit (loss)9901-€50,844€25,354▲ 150%
Financial income75/76B€705€0▼ 100%
Recurring financial income75€705€0▼ 100%
Financial charges65/66B€14,139€28,323▲ 100%
Recurring financial charges65€14,139€28,323▲ 100%
Profit (loss) for the period before taxes9903-€64,278-€2,970▲ 95.4%
Income taxes67/77€5,000-€750▼ 115%
Profit (loss) for the period9904-€69,278-€2,220▲ 96.8%
Profit (loss) for the period to be appropriated9905-€69,278-€2,220▲ 96.8%
Line20242025Change
Assets
Total assets20/58€892,975€777,416▼ 12.9%
Formation expenses20€21,367€16,639▼ 22.1%
Fixed assets21/28€749,689€690,923▼ 7.8%
Tangible fixed assets22/27€749,689€690,923▼ 7.8%
Plant, machinery and equipment23€224,648€190,377▼ 15.3%
Furniture and vehicles24€4,002€6,650▲ 66.2%
Other tangible fixed assets26€519,839€493,896▼ 5.0%
Assets under construction and advance payments27€1,200€0▼ 100%
Current assets29/58€121,918€69,854▼ 42.7%
Stocks and contracts in progress3€10,265€16,200▲ 57.8%
Stocks30/36€10,265€16,200▲ 57.8%
Amounts receivable within one year40/41€100,080€36,073▼ 64.0%
Trade receivables40€16,545€27,102▲ 63.8%
Other amounts receivable41€83,535€8,971▼ 89.3%
Cash at bank and in hand54/58€6,178€9,046▲ 46.4%
Deferred charges and accrued income490/1€5,395€8,535▲ 58.2%
Equity and liabilities
Total equity and liabilities10/49€892,975€777,416▼ 12.9%
Equity10/15-€7,778-€9,998▼ 28.5%
Contributions10/11€61,500€61,500=
Capital10€61,500€61,500=
Issued capital100€61,500€61,500=
Profit (loss) carried forward14-€69,278-€71,498▼ 3.2%
Amounts payable17/49€900,753€787,414▼ 12.6%
Amounts payable after more than one year17€546,479€459,973▼ 15.8%
Financial debts170/4€546,479€459,973▼ 15.8%
Amounts payable within one year42/48€353,643€323,143▼ 8.6%
Current portion of amounts payable after more than one year42€83,216€86,506▲ 4.0%
Trade debts44€81,404€62,066▼ 23.8%
Suppliers440/4€81,404€62,066▼ 23.8%
Taxes, remuneration and social security45€16,990€46,930▲ 176%
Taxes450/3-€2,178-
Remuneration and social security454/9€16,990€44,753▲ 163%
Other amounts payable47/48€172,033€127,641▼ 25.8%
Accrued charges and deferred income492/3€631€4,298▲ 581%
Line20242025Change
Profit (loss) for the period9904-€69,278-€2,220▲ 96.8%
+ Depreciation and write-downs630€33,428€76,328▲ 128%
Operating cash flow (approximation)-€35,850€74,109▲ 307%
Investment in fixed assets (approximation)--€17,562-
Change in cash-€2,868-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
14-07
NBB filing Annual accounts filed
fiscal year 2025 · full schema
2025
31-07
NBB filing Annual accounts filed
fiscal year 2024 · full schema
NBB filing
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, Mons · 1 establishment unit since 2023
establishment approximate The establishment unit on the map
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.

Place de St Symphorien 247030 Mons
Ground area
275 m²
Building footprint
83 m²
Parcel 62051C0419/00L015, Wallonia. Linked by address, not a title deed.
1 establishment unit
Boulangerie Louise
Rue Arnold Delsupexhe 44, 4040 HerstalArtisanal bread and fresh pastry making
since 20232.350.729.474
1 parcel
Wallonia 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
62051C0419/00L015 Wallonia 275 m² 1 · 83 m² -
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.

Structure & network

Part of the group TRADITIONAL BREAD BELGIUM 32 companies Group, risk and exposure

Owners and holdings

1 owner

Chain of control

  1. TRADITIONAL BREAD BELGIUM 100%
  2. DELHER

Highest known parent: TRADITIONAL BREAD BELGIUM. The sources do not say who stands above it.

Owners 1

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

No current directors or connected companies found in the register.

Recognitions · licences · registrations

Food safety, FASFC

1 site · 1 with a smiley
Herstal2.350.729.474
2 permissions · smiley 2028FR00099 valid until 08-05-2028
Toelating · Bakkerij · since 26-06-2024
Toelating · Eetgelegenheid · since 26-06-2024

Similar companies · same sector, comparable size

Of 4,228 companies in sector 10712 we hold annual accounts for 1,874. 540 are within a factor 10 of this headcount. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification
Legal formPublic limited company
Founded08-09-2023
Fiscal year end31-12
Activities, NACEBEL 2025
10712Artisanal bread and fresh pastry making
47241Retail sale of bread and pastry (bakery outlets)
56112Limited-service restaurants, excluding mobile food services
E-invoicing
Reachable via Peppol
Peppol ID 0208:0805647653
Registered 15-12-2025

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 28 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.