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DELIVERECT

Active
Public limited companyfounded 2018active for 8 yearsForeestelaan 82, 9000 Gent, BelgiumKBO/BCE: BE 0692.623.253
Summary

DELIVERECT has been active since 2018 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €57.3m and a net result of -€17.8m. Equity is growing by about 20% per year across the filed financial years. Its solvency ranks better than 85% of 1,674 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Overview

Activity
Computer programming
NACE 62100
6th largest company by equity in Ghent, Telecoms and IT sector1 site
Size
€41.2mturnover 2025
Staff
75.7 FTE
Equity
€57.3m
Loss
-€17.8m
Standalone figures, without subsidiaries
Financial health
95 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.1%
Structure
Holdings
13
  • Ouzia BVDirector · permanent representative Alexander van de Rostyne
  • Saar PikarDirector
Auditor: BV PwC BedrijfsrevisorenAccounts 15 days early15 of 38 deeds read
Why 95raises riskLoss of €17.8m, the second in a row (financial year 2025)lowers riskLiquidity: current ratio 3.57, cash €25.3mSector: Computer programming, consultancy and related activities (NACE 62)Equity €57.3m (75.6% of total assets)Show the evidence

Checked score

Score 2025
95 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 60% of its sector peers (NACE 62, medium-sized)
Financial strength · tick = 2024
Strong
Solvency 100=
equity 75.6% of total assets
Liquidity 87+15
short-term debt 17.6% · cash 33.4%
Profitability 0=
return on assets -23.5%
Bankruptcy probability, 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.1% (207 companies, NACE 62, medium-sized)
Last 24 months 11-2024: 0.2% 12-2024: 0.2%● unchanged vs 11-2024 01-2025: 0.2%● unchanged vs 12-2024 02-2025: 0.2%● unchanged vs 01-2025 03-2025: 0.2%● unchanged vs 02-2025 04-2025: 0.2%● unchanged vs 03-2025 05-2025: 0.2%● unchanged vs 04-2025 06-2025: 0.2%● unchanged vs 05-2025highest value 07-2025: 0.1%▼ -0.1 percentage points vs 06-2025 08-2025: 0.1%● unchanged vs 07-2025 09-2025: 0.1%● unchanged vs 08-2025 10-2025: 0.1%● unchanged vs 09-2025 11-2025: 0.1%● unchanged vs 10-2025 12-2025: 0.1%● unchanged vs 11-2025 01-2026: 0.1%● unchanged vs 12-2025 02-2026: 0.1%● unchanged vs 01-2026 03-2026: 0.1%● unchanged vs 02-2026 04-2026: 0.1%● unchanged vs 03-2026 05-2026: 0.1%● unchanged vs 04-2026 06-2026: 0.1%● unchanged vs 05-2026 07-2026: 0.1%● unchanged vs 06-2026 08-2026: 0.1%● unchanged vs 07-2026lowest value 09-2026: 0.1%● unchanged vs 08-2026lowest value 10-2026: 0.1%● unchanged vs 09-2026lowest value
Credit of up to €4,100,000 on 30-day terms is acceptable
Liquidity ample (current ratio 3.57, compared with 5.54 in 2024, above the usual 1.5; short-term debt: 17.6% and cash: 33.4% of total assets), and 24.4% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 62, medium-sized): better than 95% on solvency, 96% on liquidity, 2% on profitability and 48% on growth.

The bankruptcy probability was computed on 19-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Six signals.
lowers riskraises riskneutral
raises risk · Loss of €17.8m, the second in a row (financial year 2025)
NBB · annual accounts
lowers risk · Liquidity: current ratio 3.57, cash €25.3m
NBB · annual accounts
lowers risk · Sector: Computer programming, consultancy and related activities (NACE 62)
KBO
lowers risk · Equity €57.3m (75.6% of total assets)
NBB · annual accounts
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025
Net result per financial year
1919202122232425
2019 to 2025 · latest year -€17.8m
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 16-07-2026, 15 days ahead of the deadline.
NBB · 8 filings
Deviation from the deadline
2025
15 days early
2024
42 days early
2023
47 days early
2022
39 days late
2021
31 days late
2020
5 days late
2019
33 days late
← 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 1 day after the deadline; the sector median (NACE 62) for financial year 2024 is 9 days before the deadline, and 33% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 16 July (4 of the last 5 filed years within 46 days of that day).
Companies Code · seven months
Where today falls in the filing period
20-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Capital & sharesFinancial instrument · Capital increase…
  2. Capital & sharesCorrection · Capital increase ·…
  3. MiscellaneousFinancial instrument · Capital increase…

Key points

  • Risk: 8 loss-making years in a rowloss financial year 2025 -€17.8m View
  • Caution: Among the weakest 5% on net resultsector median €36,848 · 1,676 companies -€17.8m View
  • Heads a groupcompanies controlled 13 View
  • Board changedlatest change 31-01-2026 · 2 in office 1 joined · 1 left View
  • Flemish supportawarded from 2023 to 2025 €487,491 View

By topic

Financials

Financial year
2025
Turnover
€41.2m
Loss
-€17.8m
Solvency
75.6%
Turnover▲ 21.9%
Net result
20222025
Go to Financials

Board & ownership

Board
2 members
Auditor
BV PwC Bedrijfsrevisoren
  • Ouzia BVDirector
  • Saar PikarDirector
Go to Board & ownership

Timeline

Events
29
Since
2019
Next accounts
by 31-07-2027
  1. 16-07-2026Annual accounts filed
  2. 16-07-2026Annual accounts filed
  3. 04-03-2026Capital & shares
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Computer programmingNACE 62100
Founded
15-03-2018
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Articles of association

Provisions read
16
Annual meeting
Last Friday of May
Purpose
“Het ontwerpen, ontwikkelen, analyseren, programmeren en uitgeven van computerprogramma's…” (deed in Dutch)
Go to Articles of association

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