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Delicolor

Active
Private limited companyfounded 2021active for 5 yearsSteenweg op Ravels 43, 2360 Oud-Turnhout, BelgiumKBO/BCE: BE 0765.994.449

Financials · financial year 2025, abbreviated format

Annual accounts 2025 filed on 30-06-2026 at the NBB all 5 filings

Turnover
≈ €220,000
Estimated: probably between €170,000 and €360,000
Total assets
€114,627▲ 12.5%
2024 · €101,849
Net result
€25,285▲ 37.1%
2024 · €18,446
Working capital
€70,051▲ 54.9%
2024 · €45,227
Multi-year overview
2021 to 2025, 5 financial years
Operating result
€34,836
▲ 33.8% 2025
20212025
Net result
€25,285
▲ 37.1% 2025
middle half of the sector
20212025
Equity
€77,263
▲ 48.6% 2025
middle half of the sector
20212025
Total assets
€114,627
▲ 12.5% 2025
lowest quarter of the sector
20212025
Debt
€37,364
▼ 25.1% 2025
20212025
Working capital
€70,051
▲ 54.9% 2025
middle half of the sector
20212025
Solvency
67.4%
▲ 16.4pp 2025
highest quarter of the sector
20212025
Current ratio
2.92
▲ 1.01 2025
highest quarter of the sector
20212025
Return on assets (ROA)
22.1%
▲ 3.9pp 2025
highest quarter of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable unfavourable
Line20212022202320242025
Operating result€3,383-€13,788▲ 308%€18,084▲ 31.2%€26,036▲ 44.0%€34,836▲ 33.8%
Net result€2,229below the sector's middle half-€8,450within the sector's middle half▲ 279%€12,854within the sector's middle half▲ 52.1%€18,446within the sector's middle half▲ 43.5%€25,285within the sector's middle half▲ 37.1%
Equity€12,229below the sector's middle half-€20,679below the sector's middle half▲ 69.1%€33,532below the sector's middle half▲ 62.2%€51,978below the sector's middle half▲ 55.0%€77,263within the sector's middle half▲ 48.6%
Total assets€103,311below the sector's middle half-€121,671below the sector's middle half▲ 17.8%€114,020below the sector's middle half▼ 6.3%€101,849below the sector's middle half▼ 10.7%€114,627below the sector's middle half▲ 12.5%
Debt€91,082-€100,992▲ 10.9%€80,488▼ 20.3%€49,871▼ 38.0%€37,364▼ 25.1%
Working capital-€12,218below the sector's middle half-€139below the sector's middle half€32,636within the sector's middle half▲ 236×€45,227within the sector's middle half▲ 38.6%€70,051within the sector's middle half▲ 54.9%
Solvency11.8%below the sector's middle half-17.0%within the sector's middle half▲ 5.2pp29.4%within the sector's middle half▲ 12.4pp51.0%within the sector's middle half▲ 21.6pp67.4%above the sector's middle half▲ 16.4pp
Current ratio0.87below the sector's middle half-1.00below the sector's middle half▲ 0.141.44within the sector's middle half▲ 0.441.91within the sector's middle half▲ 0.462.92above the sector's middle half▲ 1.01
Return on assets (ROA)2.2%within the sector's middle half-6.9%within the sector's middle half▲ 4.8pp11.3%above the sector's middle half▲ 4.3pp18.1%above the sector's middle half▲ 6.8pp22.1%above the sector's middle half▲ 3.9pp
above within below The sector band is the middle half of the companies in Retail trade (NACE 47). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.

The operating result for 2025 is 34% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.

Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.

Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €114,627
Fixed assets €8,025 ▲ 18.6%
Current assets €106,602 ▲ 12.1%
Equity and liabilities €114,627
Equity €77,263 ▲ 48.6%
Debt €37,364 ▼ 25.1%
Debt's share of the balance-sheet total falls from 49.0% to 32.6%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€37,075▲
2024 · €28,789
Cash flow
€27,524▲
2024 · €21,199
Quick ratio
1.95▲
2024 · 1.22
Debt to equity
0.48▼
2024 · 0.96
ROE
32.7%▼
2024 · 35.5%
Interest coverage
38.44▲
2024 · 26.90
Debt ≤ 1 year
€36,551▼
2024 · €49,859
Income taxes
€8,640▲
2024 · €6,530
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€25,432€1,532€3,000€1,750€3,500
Intangible fixed assets€1,500----
Depreciation and write-downs of the year€1,938€5,985€2,761€2,753€2,239

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 42 lines
Balance sheet Code20242025
Assets
Total assets20/58€101,849€114,627▲
Fixed assets21/28€6,764€8,025▲
Intangible fixed assets21€985€835▼
Tangible fixed assets22/27€5,779€7,190▲
Plant, machinery and equipment23€5,779€7,190▲
Current assets29/58€95,085€106,602▲
Stocks and contracts in progress3€34,450€35,200▲
Stocks30/36€34,450€35,200▲
Amounts receivable within one year40/41€35,420€38,411▲
Trade receivables40€35,369€36,899▲
Other amounts receivable41€51€1,513▲
Cash at bank and in hand54/58€23,630€31,306▲
Deferred charges and accrued income490/1€1,586€1,684▲
Equity and liabilities
Total equity and liabilities10/49€101,849€114,627▲
Equity10/15€51,978€77,263▲
Contributions10/11€10,000€10,000=
Reserves13€41,978€67,263▲
Distributable reserves133€41,978€67,263▲
Amounts payable17/49€49,871€37,364▼
Amounts payable within one year42/48€49,859€36,551▼
Trade debts44€5,869€11,921▲
Suppliers440/4€5,869€11,921▲
Taxes, remuneration and social security45€2,327€3,170▲
Taxes450/3€2,327€3,170▲
Other amounts payable47/48€41,663€21,459▼
Accrued charges and deferred income492/3€13€813▲
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2,753€2,239▼
Other operating charges640/8€705€671▼
Non-recurring operating charges66A-€1,834
Gross operating margin9900€29,494€39,580▲
Operating profit (loss)9901€26,036€34,836▲
Financial income75/76B€10€54▲
Recurring financial income75€10€54▲
Financial charges65/66B€1,070€964▼
Recurring financial charges65€1,070€964▼
Profit (loss) for the period before taxes9903€24,976€33,925▲
Income taxes67/77€6,530€8,640▲
Profit (loss) for the period9904€18,446€25,285▲
Profit (loss) for the period to be appropriated9905€18,446€25,285▲
Appropriation of the result
Profit (loss) to be appropriated9906€18,446€25,285▲
Transfer to equity691/2€18,446€25,285▲
To other reserves6921€18,446€25,285▲

The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 30-06-2026.

Line20212022202320242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1,938€5,985€2,761€2,753€2,239▼ 18.7%
Other operating charges640/8€944€1,068€634€705€671▼ 4.9%
Non-recurring operating charges66A--€1,941-€1,834-
Gross operating margin9900€6,266€20,841€23,419€29,494€39,580▲ 34.2%
Operating profit (loss)9901€3,383€13,788€18,084€26,036€34,836▲ 33.8%
Financial income75/76B€1€12€1,080€10€54▲ 447%
Recurring financial income75€1€12€1,080€10€54▲ 447%
Financial charges65/66B€30€58€57€1,070€964▼ 9.9%
Recurring financial charges65€30€58€57€1,070€964▼ 9.9%
Profit (loss) for the period before taxes9903€3,354€13,743€19,107€24,976€33,925▲ 35.8%
Income taxes67/77€1,126€5,293€6,253€6,530€8,640▲ 32.3%
Profit (loss) for the period9904€2,229€8,450€12,854€18,446€25,285▲ 37.1%
Profit (loss) for the period to be appropriated9905€2,229€8,450€12,854€18,446€25,285▲ 37.1%
Line20212022202320242025Change
Assets
Total assets20/58€103,311€121,671€114,020€101,849€114,627▲ 12.5%
Fixed assets21/28€24,993€20,540€7,767€6,764€8,025▲ 18.6%
Intangible fixed assets21€1,435€1,285€1,135€985€835▼ 15.2%
Tangible fixed assets22/27€23,558€19,255€6,632€5,779€7,190▲ 24.4%
Plant, machinery and equipment23€5,260€5,137€6,231€5,779€7,190▲ 24.4%
Furniture and vehicles24€18,298€14,118€401---
Current assets29/58€78,317€101,131€106,253€95,085€106,602▲ 12.1%
Stocks and contracts in progress3€32,837€34,422€31,248€34,450€35,200▲ 2.2%
Stocks30/36€32,837€34,422€31,248€34,450€35,200▲ 2.2%
Amounts receivable within one year40/41€28,674€38,980€38,630€35,420€38,411▲ 8.4%
Trade receivables40€28,674€38,362€38,579€35,369€36,899▲ 4.3%
Other amounts receivable41-€618€51€51€1,513▲ 30×
Cash at bank and in hand54/58€16,479€27,131€35,061€23,630€31,306▲ 32.5%
Deferred charges and accrued income490/1€328€599€1,314€1,586€1,684▲ 6.2%
Equity and liabilities
Total equity and liabilities10/49€103,311€121,671€114,020€101,849€114,627▲ 12.5%
Equity10/15€12,229€20,679€33,532€51,978€77,263▲ 48.6%
Contributions10/11€10,000€10,000€10,000€10,000€10,000=
Reserves13€2,229€10,679€23,532€41,978€67,263▲ 60.2%
Distributable reserves133€2,229€10,679€23,532€41,978€67,263▲ 60.2%
Amounts payable17/49€91,082€100,992€80,488€49,871€37,364▼ 25.1%
Amounts payable within one year42/48€90,536€100,992€73,618€49,859€36,551▼ 26.7%
Trade debts44€11,384€21,324€4,584€5,869€11,921▲ 103%
Suppliers440/4€11,384€21,324€4,584€5,869€11,921▲ 103%
Taxes, remuneration and social security45€4,415€6,418€7,675€2,327€3,170▲ 36.3%
Taxes450/3€4,415€6,418€7,675€2,327€3,170▲ 36.3%
Other amounts payable47/48€74,737€73,250€61,359€41,663€21,459▼ 48.5%
Accrued charges and deferred income492/3€547-€6,870€13€813▲ 63×
Line20212022202320242025Change
Profit (loss) for the period9904€2,229€8,450€12,854€18,446€25,285▲ 37.1%
+ Depreciation and write-downs630€1,938€5,985€2,761€2,753€2,239▼ 18.7%
Operating cash flow (approximation)€4,167€14,435€15,615€21,199€27,524▲ 29.8%
Investment in fixed assets (approximation)--€1,532€10,012-€1,750-€3,500▼ 100%
Change in cash-€10,652€7,931-€11,431€7,677-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Historical observation

In July 2024, 26,972 companies had the same profile as Delicolor has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.

  • Micro
  • 5 to 10 years old
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more
94.9% was still going
3.4% stopped otherwise
1.6% went bankrupt

Another 0.1% stopped without a precise date, possibly only after those two years.

That fits the bankruptcy probability of Delicolor itself: 0.3% within 12 months.

Test of the method

The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the 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% 0.9%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 26,972 companies, not a prediction for Delicolor. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Filings with the National Bank (5)
Financial year Type Filed Reference Document
31-12-2025 abbreviated format 30-06-2026 2026-00238802 PDF
31-12-2024 abbreviated format 27-06-2025 2025-00200837 PDF
31-12-2023 abbreviated format 28-06-2024 2024-00191148 PDF
31-12-2022 abbreviated format 30-06-2023 2023-00182551 PDF
31-12-2021 abbreviated format 26-07-2022 2022-20231664 PDF

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