Public limited company · founded 1982 · 44 yrs activeJoseph Cardijnstraat 52, 9420 Erpe-Mere, BelgiumKBO/BCE: BE 0422.571.986
Summary
DELI has been active since 1982 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€113,036) and a net result of -€316,336. Equity is shrinking by ~58.1% per year across the filed fiscal years. Its solvency ranks better than 9% of 446 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
How financially healthy the company is, how likely a bankruptcy is and how much credit is sensible. Start here to know whether you can do business safely.
Score 2025
Checked score
A figure from 0 to 100 for financial health from the latest annual accounts: the higher, the healthier. Without a figure, the card says why. A low score is a reason to look closely at payment terms and security.
Four sides of financial health side by side. You see at a glance where the company is strong and where it is vulnerable.
Profitability35▲+35
Solvency24▲+24
Growth32=
Track record100
Bankruptcy probability, 12 months
Bankruptcy probability
The chance that this company goes bankrupt within twelve months. A low chance is reassuring; with a higher one, agree shorter payment terms or an advance.
0.6%Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 1.81 against 0.33 in 2023; short-term debt: 39.1% and cash: 0.8% of total assets), but equity is negative.
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 70 days before the deadline; 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 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 25 May (5 of the last 5 filed years within 30 days of that day).
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
History
The company's story in a few sentences, from the company register, the Belgian State Gazette and the filed annual accounts. Each number opens the document the sentence rests on.
On 9 April 1982, DELI was incorporated.1The capital was increased 2 times between 2012 and 2025, most recently to EUR 5.5 million.23Of the 3 current board members, L & A BUSINESS CONSULT has served longest, since 2022.4Total assets went from EUR 4.9 million in 2018 to EUR 9.7 million in 2025 and headcount from 41.7 to 37.6 full-time equivalents.5
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 77, Rental and leasing activities, 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
Net result-€1.4mbelow the sector's middle half▼ 237%-€1.8mbelow the sector's middle half▼ 25.3%€486,992above the sector's middle half-€2.0mbelow the sector's middle half-€316,336below the sector's middle half-
Equity€431,308within the sector's middle half▼ 76.7%-€1.3mbelow the sector's middle half-€861,149below the sector's middle half▲ 36.1%-€2.9mbelow the sector's middle half▼ 233%-€113,036below the sector's middle half-
Total assets€5.6mwithin the sector's middle half▲ 7.4%€4.2mwithin the sector's middle half▼ 24.4%€4.9mwithin the sector's middle half▲ 15.2%€4.8mwithin the sector's middle half▼ 1.8%€9.7mwithin the sector's middle half-
Working capital-€1.6mbelow the sector's middle half-€3.1mbelow the sector's middle half▼ 98.2%-€2.9mbelow the sector's middle half▲ 5.3%-€5.1mbelow the sector's middle half▼ 74.4%€3.0mabove the sector's middle half-
Solvency7.7%below the sector's middle half▼ 28.0pp-32.0%below the sector's middle half▼ 39.8pp-17.8%below the sector's middle half▲ 14.3pp-60.1%below the sector's middle half▼ 42.4pp-1.2%below the sector's middle half-
Current ratio0.70below the sector's middle half▼ 0.310.44below the sector's middle half▼ 0.250.49below the sector's middle half▲ 0.040.33below the sector's middle half▼ 0.161.81within the sector's middle half-
Return on assets (ROA)-25.5%below the sector's middle half▼ 17.4pp-42.3%below the sector's middle half▼ 16.8pp10.0%above the sector's middle half▲ 52.3pp-42.0%below the sector's middle half▼ 52.1pp-3.3%below the sector's middle half-
Staff (FTE)42.3above the sector's middle half▼ 5.8%40.7above the sector's middle half▼ 3.8%34.2above the sector's middle half▼ 16.0%36.6above the sector's middle half▲ 7.0%37.6above the sector's middle half-
abovewithinbelowthe middle half (P25 to P75) of NACE 77, Rental and leasing activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result is €135,782 in 2025, compared with -€1.7m in 2023. Comparable figures for the intervening years are unavailable.
Balance-sheet composition
2025 in colour, 2023 as the grey bar beneath
Assets €9.7m
29.4%
70.6%
Fixed assets€2.8m ▲ 23.3%
Current assets€6.8m ▲ 177%
Key figures and ratios
2025 value · change against 2023
EBITDA
€1.0m▲
2023 · -€942,640
Cash flow
€568,789▲
2023 · -€1.2m
Debt to equity
-86.46▼
2023 · -2.66
Interest coverage
2.48▲
2023 · -3.95
Debt ≤ 1 year
€3.8m▼
2023 · €7.6m
Debt > 1 year
€6.0m▲
2023 · €250
Income taxes
€15,377▼
2023 · €29,116
Staff costs
€3.6m▲
2023 · €3.3m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observation
Peer companies
What happened to companies that once looked just like this one does now. It describes the group, not this company: the figures are counted, not predicted.
Of the 1,241 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 93% are still going.
Small
20 years or older
negative equity
a small loss
1.8%went bankrupt
4.0%stopped otherwise
93%still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
The companies in ten equal groups, from lowest to highest expected share.
Group
Expected
Actual
1
0.2%
0.2%
2
0.3%
0.5%
3
0.5%
0.6%
4
0.7%
0.8%
5
0.9%
1.0%
6
1.3%
1.5%
7
1.6%
1.8%
8
1.8%
1.9%
9
3.0%
3.1%
10
5.6%
6.2%
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 1,241 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 accountsAs filed with the NBB · 2025 against 2023 · 68 lines
Balance sheetCode20232025
Assets
Total assets20/58€4.8m€9.7m▲
Fixed assets21/28€2.3m€2.8m▲
Tangible fixed assets22/27€2.3m€2.8m▲
Land and buildings22€3,250€1,346▼
Other tangible fixed assets26€2.3m€2.8m▲
Financial fixed assets28€2,847€2,847=
Other financial fixed assets284/8€2,847€2,847=
Amounts receivable and cash guarantees285/8€2,847€2,847=
Current assets29/58€2.5m€6.8m▲
Amounts receivable within one year40/41€2.3m€6.6m▲
Trade receivables40€2.3m€3.8m▲
Other amounts receivable41€48,048€2.8m▲
Cash at bank and in hand54/58€1,508€81,513▲
Deferred charges and accrued income490/1€140,224€133,506▼
Equity and liabilities
Total equity and liabilities10/49€4.8m€9.7m▲
Equity10/15-€2.9m-€113,036▲
Contributions10/11€767,000€5.5m▲
Capital10€767,000€5.5m▲
Issued capital100€767,000€5.5m▲
Reserves13€233,557€233,556=
Non-distributable reserves130/1€76,701€76,700=
Legal reserve130€76,701€76,700=
Tax-exempt reserves132€8,595€8,595=
Distributable reserves133€148,261€148,261=
Profit (loss) carried forward14-€3.9m-€5.9m▼
Amounts payable17/49€7.6m€9.8m▲
Amounts payable after more than one year17€250€6.0m▲
Financial debts170/4-€6.0m
Other loans174-€6.0m
Other amounts payable178/9€250€250=
Amounts payable within one year42/48€7.6m€3.8m▼
Trade debts44€2.5m€2.6m▲
Suppliers440/4€2.5m€2.6m▲
Taxes, remuneration and social security45€917,371€1.1m▲
Taxes450/3€100,435€285,030▲
Remuneration and social security454/9€816,936€838,064▲
Net result drops to -€2.0m, the lowest in the series; recovery starts the following year.
23-05
State Gazette actResignations: Shauri BV (director) and LLBG NV (managing director)
Appointment: Shauri BV (director) · Permanent representatives: Marc Vanherpe and Guido Vanherpe · Reappointment: LLBG NV (managing director)8 facts ▸
General meeting, 27-04-2023
Director resignation, Shauri BV (director)
Director appointment, Shauri BV (director)
Permanent representative, Marc Vanherpe
Board meeting, 27-04-2023
Director resignation, LLBG NV (managing director)
Director reappointment, LLBG NV (managing director)
Permanent representative, Guido Vanherpe
16-05
NBB filingAnnual accounts filed
fiscal year 2022 · full schema
20-04
State Gazette actStatutes amendment
Capital4 facts ▸
General meeting, 31-03-2023
Statutes amendment
Statutes amendment
Capital, €767.000
2022
31-12
FinancialBack to profitnet €486,992
Net result €486,992 after 3 loss-making years.
Show earlier events
27-06
State Gazette actAppointments: Ernst & Young Bedrijfsrevisoren BV (statutory auditor) and L&A Business Consult BV (director)
Resignation: L&A Business Consult BV (director) · Permanent representative: Luc Verhasselt · Power of attorney7 facts ▸
General meeting, 21-04-2022
Auditor appointment, Ernst & Young Bedrijfsrevisoren BV (statutory auditor)
Director resignation, L&A Business Consult BV (director)
Director appointment, L&A Business Consult BV (director)
Permanent representative, Luc Verhasselt
Power of attorney, Pieter Bax
Power of attorney, Jan Devriendt
25-05
NBB filingAnnual accounts filed
fiscal year 2021 · full schema
2021
18-05
NBB filingAnnual accounts filed
fiscal year 2020 · full schema
2020
15-10
State Gazette actPermanent representative: Francis Boelens
Power of attorney4 facts ▸
Board meeting, 01-10-2020
Permanent representative, Francis Boelens
Power of attorney, Pieter Bax
Power of attorney, Jan Devriendt
20-05
NBB filingAnnual accounts filed
fiscal year 2019 · full schema
16-01
State Gazette actPermanent representative: Guido Vanherpe
2 facts ▸
Board meeting, 19-12-2019
Permanent representative, Guido Vanherpe
2019
22-05
NBB filingAnnual accounts filed
fiscal year 2018 · full schema
20-05
State Gazette actAppointment: Ernst & Young Bedrijfsrevisoren BV CVBA (statutory auditor)
2 facts ▸
General meeting, 25/04/2019
Auditor appointment, Ernst & Young Bedrijfsrevisoren BV CVBA
2018
11-07
State Gazette actAppointment: LLBG (managing director)
Permanent representative: Guido Vanherpe · Director resignation · Power of attorney7 facts ▸
Board meeting, 28-04-2018
Director resignation, managing director
Director appointment, LLBG (managing director)
Permanent representative, Guido Vanherpe
Power of attorney, Pieter Bax
Power of attorney, Jan Devriendt
Representation, vertegenwoordiging van NV LLBG in haar hoedanigheid van gedelegeerde bestuurder van DELI
29-05
State Gazette actResignations: LLBG NV (director) and Shauri BVBA (director)
Appointments: LLBG NV (director) and Shauri BVBA (director) · Permanent representatives: Guido Vanherpe and Marc Vanherpe · Representation8 facts ▸
General meeting, 26-04-2018
Director resignation, LLBG NV (director)
Director resignation, Shauri BVBA (director)
Director appointment, LLBG NV (director)
Permanent representative, Guido Vanherpe
Director appointment, Shauri BVBA (director)
Permanent representative, Marc Vanherpe
Representation, Guido Vanherpe BVBA
24-05
NBB filingAnnual accounts filed
fiscal year 2017 · full schema
2017
18-05
NBB filingAnnual accounts filed
fiscal year 2016 · full schema
07-04
State Gazette actResignation: BVBA Vantmar (director and managing director)
Appointment: BVBA L&A Business Consult (bijkomende bestuurder) · Permanent representatives: Luc Verhasselt and Anthony Vanherpe · Director discharge6 facts ▸
General meeting, 15-03-2017
Director resignation, BVBA Vantmar (director and managing director)
Director discharge, BVBA Vantmar
Director appointment, BVBA L&A Business Consult (bijkomende bestuurder)
Permanent representative, Luc Verhasselt
Permanent representative, Anthony Vanherpe
2016
12-05
State Gazette actAppointment: Ernst & Young Bedrijfsrevisoren BV CVBA (statutory auditor)
2 facts ▸
General meeting, 21-04-2016
Auditor appointment, Ernst & Young Bedrijfsrevisoren BV CVBA
2014
21-05
State Gazette actAppointment: Ernst & Young Bedrijfsrevisoren BCVBA (statutory auditor)
Power of attorney3 facts ▸
General meeting, 24-06-2013
Auditor appointment, Ernst & Young Bedrijfsrevisoren BCVBA (statutory auditor)
Power of attorney, Marnix Van Dooren
2013
18-10
State Gazette actReappointments: Johan Vanherpe, Vanobake NV and 3 others
Appointment: Ernst & Young (statutory auditor) · Permanent representative: Marnix Van Dooren8 facts ▸
General meeting, 24-06-2013
Director reappointment, Johan Vanherpe (director)
Director reappointment, Vanobake NV (managing director)
Director reappointment, Guido Vanherpe bvba (director)
Director reappointment, Shauri bvba (director)
Director reappointment, M&A cva (managing director)
Auditor appointment, Ernst & Young (statutory auditor)
Permanent representative, Marnix Van Dooren
2012
11-01
State Gazette actCapital & shares · Statutes amendment · Restructuring
Demerger · Capital decrease · Accounting effect12 facts ▸
General meeting, 20-12-2011
Demerger, Partiële splitsing door inbreng van activa- en passivabestanddelen verbonden aan de juridische eigendom van de merken "Panos", "Deliway" en "Coffeeclub"
Capital decrease, €8.174,3
Accounting effect, 01-07-2011
Capital increase, €174,3
Capital, €767.000
Statutes amendment
Power of attorney, Raad van bestuur DELI
Demerger, Gecoördineerde partiële splitsing van vier vennootschappen: Deli NV, Brood- en Banketbakkerijen La Lorraine NV, Panesco Europe NV en Vanelor NV
Demerger, VANOBAKE is eigenares van alle aandelen van de partieel te splitsen vennootschappen, artikel 740§2, 1° Wetboek van vennootschappen
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
21 of 21 acts read
Directors · office · real estate
Directors and office
Who runs the company and where it is based. It tells you who you are talking to and whether the address checks out.
Directors
Directors
Who runs the company today and since when, grouped the way the CBE groups its function holders. Many recent board changes are a reason to keep a close eye.
4 directors, 1 in day-to-day management, no change since 2024
"From a recent act": read from a Gazette act not yet processed into our list of directors.
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Location & real-estate footprint
Location & real estate
Where the company is based and which parcels are linked to its addresses. An address shared by many companies is often a registered-office service.
Joseph Cardijnstraat 52, 9420 Erpe-MereNACE 1562008
since 19932.109.664.975
Stationsstraat(HA) 162A, 9450 Haaltert
Artisanal bread and fresh pastry making
since 20252.371.129.663
2 parcels
Flanders2(100%)
Parcel (capakey)
Region
Area
Buildings
Height / fl.
41054A0045/00D000
Flanders
3.0 ha
1 · 8,799 m²
-
41024B0264/00R000
Flanders
3,680 m²
1 · 2,279 m²
10.6 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.
Mandate history
Mandate history
Who held which function and when, per person: one bar per period, from appointment to resignation or to today. An open left edge means the mandate began before the oldest act we hold.
Alle activiteiten zoals fabricatie, aankoop en verkoop, import en export, en handel in het algemeen, die direct of indirect verband houden met de bakkerij, de banketbakkerij, met…
Full purpose
Alle activiteiten zoals fabricatie, aankoop en verkoop, import en export, en handel in het algemeen, die direct of indirect verband houden met de bakkerij, de banketbakkerij, met beschuiten, koekjes, snoepgoed, versnaperingen en met alle voedingswaren in de ruimste zin van het woord. De vennootschap heeft bovendien tot voorwerp het uitbaten van restaurants en snackbars en alle activiteiten die ermee verband houden.
Who owns the company and which companies it holds shares in, as the companies file it in their annual accounts. It shows which group it belongs to and who ultimately stands behind it.
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
Connections & network
Which other companies are linked to this one through directors or shares. Look especially for linked companies in trouble.
6 connected companies
Depth
Shared directors
This companyCompanyDirectorShareholding+N: links not shown yetClick a node to look further, drag to arrange, scroll to zoom.
Of 421 companies in sector 77400 we hold annual accounts for 152. 82 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Company details
The company's official details: legal form, status, activities and founding date. Useful to draw up an invoice or contract correctly.
Identification
Legal formPublic limited company
Founded09-04-1982
Fiscal year end31-12
Activities, NACEBEL 2025
77400Rental and leasing activities
E-invoicing
Reachable via Peppol
Peppol ID0208:0422571986
Also9925:BE0422571986
Registered20-11-2020
If you follow this company, Checked tells you the day it leaves the Peppol register.