DELIXIR
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 26-06-2026 at the NBB all 13 filings
Turnover
€27,955
EBIT margin
5.8%
Net result
€2,313
2024 · -€222
Working capital
€11,977▲ 23.9%
2024 · €9,664
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
€3,223
▲ 354×
2025
20182025
Net result
€2,313
2025
middle half of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
€11,977
▲ 23.9%
2025
lowest quarter of the sector
20182025
Total assets
€14,206
▼ 37.2%
2025
lowest quarter of the sector
20182025
Debt
€2,229
▼ 82.8%
2025
20182025
Working capital
€11,977
▲ 23.9%
2025
middle half of the sector
20182025
Solvency
84.3%
▲ 41.6pp
2025
highest quarter of the sector
20182025
Current ratio
6.37
▲ 4.63
2025
highest quarter of the sector
20182025
Return on assets (ROA)
16.3%
▲ 17.3pp
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€27,955
Operating result€5,860--€16,113€1,628€8,331▲ 412%€3,497▼ 58.0%€4,678▲ 33.8%€9▼ 99.8%€3,223▲ 354×
Net result€280--€15,453€1,249within the sector's middle half€5,685within the sector's middle half▲ 355%€1,578within the sector's middle half▼ 72.2%€2,916within the sector's middle half▲ 84.8%-€222below the sector's middle half€2,313within the sector's middle half
EBIT margin5.8%
Equity€13,911--€1,542-€293below the sector's middle half▲ 81.0%€5,392below the sector's middle half€6,970below the sector's middle half▲ 29.3%€9,886below the sector's middle half▲ 41.8%€9,664below the sector's middle half▼ 2.2%€11,977below the sector's middle half▲ 23.9%
Total assets€16,061-€2,758▼ 82.8%€5,419below the sector's middle half▲ 96.5%€14,646below the sector's middle half▲ 170%€23,730below the sector's middle half▲ 62.0%€18,147below the sector's middle half▼ 23.5%€22,619below the sector's middle half▲ 24.6%€14,206below the sector's middle half▼ 37.2%
Debt€2,150-€4,300▲ 100.0%€5,712▲ 32.8%€9,254▲ 62.0%€16,761▲ 81.1%€8,261▼ 50.7%€12,955▲ 56.8%€2,229▼ 82.8%
Working capital€13,911--€1,542-€293within the sector's middle half▲ 81.0%€5,392within the sector's middle half€6,970within the sector's middle half▲ 29.3%€9,886within the sector's middle half▲ 41.8%€9,664within the sector's middle half▼ 2.2%€11,977within the sector's middle half▲ 23.9%
Solvency86.6%--5.4%below the sector's middle half36.8%within the sector's middle half▲ 42.2pp29.4%within the sector's middle half▼ 7.4pp54.5%within the sector's middle half▲ 25.1pp42.7%within the sector's middle half▼ 11.8pp84.3%above the sector's middle half▲ 41.6pp
Current ratio7.47-0.95within the sector's middle half1.58within the sector's middle half▲ 0.631.42within the sector's middle half▼ 0.172.20above the sector's middle half▲ 0.781.75within the sector's middle half▼ 0.456.37above the sector's middle half▲ 4.63
Return on assets (ROA)1.7%-23.0%above the sector's middle half38.8%above the sector's middle half▲ 15.8pp6.6%within the sector's middle half▼ 32.2pp16.1%above the sector's middle half▲ 9.4pp-1.0%below the sector's middle half▼ 17.0pp16.3%above the sector's middle half▲ 17.3pp
above
within
below
The sector band is the middle half of the companies in Manufacture of food products (NACE 10). 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 354 times that of 2024. It is a recovery after the fall in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €14,206
Equity
€11,977 ▲ 23.9%
Debt
€2,229 ▼ 82.8%
Debt's share of the balance-sheet total falls from 57.3% to 15.7%. Equity is higher and debt is lower.
Key figures and ratios
Quick ratio
4.39▲
2024 · 1.20
Debt to equity
0.19▼
2024 · 1.34
ROE
19.3%▲
2024 · -2.3%
Debt ≤ 1 year
€2,229▼
2024 · €12,955
Income taxes
€703
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | €27,955 | - | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €353 | €348 | €384 | €387 | - | - |
| Gross operating margin9900 | €5,860 | €2,916 | €1,987 | €8,685 | €3,845 | €5,062 | €396 | €3,223 | ▲ 713% |
| Operating profit (loss)9901 | €5,860 | -€16,113 | €1,628 | €8,331 | €3,497 | €4,678 | €9 | €3,223 | ▲ 354× |
| Financial income75/76B | - | - | - | €5 | - | - | - | €28 | - |
| Recurring financial income75 | €0 | €938 | - | €5 | - | - | - | €28 | - |
| Financial charges65/66B | - | - | - | €141 | €154 | €180 | €231 | €235 | ▲ 1.7% |
| Recurring financial charges65 | €5,422 | €270 | €243 | €141 | €154 | €180 | €231 | €235 | ▲ 1.7% |
| Profit (loss) for the period before taxes9903 | €438 | -€15,445 | €1,385 | €8,195 | €3,343 | €4,498 | -€222 | €3,016 | - |
| Income taxes67/77 | €159 | €8 | €136 | €2,510 | €1,765 | €1,582 | - | €703 | - |
| Profit (loss) for the period9904 | €280 | -€15,453 | €1,249 | €5,685 | €1,578 | €2,916 | -€222 | €2,313 | - |
| Profit (loss) for the period to be appropriated9905 | €280 | -€15,453 | €1,249 | €5,685 | €1,578 | €2,916 | -€222 | €2,313 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €16,061 | €2,758 | €5,419 | €14,646 | €23,730 | €18,147 | €22,619 | €14,206 | ▼ 37.2% |
| Current assets29/58 | €16,061 | €2,758 | €5,419 | €14,646 | €23,730 | €18,147 | €22,619 | €14,206 | ▼ 37.2% |
| Stocks and contracts in progress3 | €967 | - | - | - | - | - | €7,094 | €4,420 | ▼ 37.7% |
| Stocks30/36 | - | - | - | - | - | - | €7,094 | €4,420 | ▼ 37.7% |
| Amounts receivable within one year40/41 | €13,474 | €1,158 | €3,851 | €7,166 | €13,144 | €14,187 | €9,871 | €9,372 | ▼ 5.1% |
| Trade receivables40 | - | - | - | €6,514 | €9,731 | €10,121 | €4,489 | €6,760 | ▲ 50.6% |
| Other amounts receivable41 | - | - | - | €652 | €3,413 | €4,066 | €5,382 | €2,612 | ▼ 51.5% |
| Cash at bank and in hand54/58 | €1,606 | €1,599 | €1,568 | €7,480 | €10,484 | €3,960 | €5,654 | €14 | ▼ 99.8% |
| Deferred charges and accrued income490/1 | - | - | - | - | €103 | - | - | €400 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €16,061 | €2,758 | €5,419 | €14,646 | €23,730 | €18,147 | €22,619 | €14,206 | ▼ 37.2% |
| Equity10/15 | €13,911 | -€1,542 | -€293 | €5,392 | €6,970 | €9,886 | €9,664 | €11,977 | ▲ 23.9% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€4,689 | -€20,142 | -€18,893 | -€13,208 | -€11,630 | -€8,714 | -€8,936 | -€6,623 | ▲ 25.9% |
| Amounts payable17/49 | €2,150 | €4,300 | €5,712 | €9,254 | €16,761 | €8,261 | €12,955 | €2,229 | ▼ 82.8% |
| Amounts payable within one year42/48 | €2,150 | €4,300 | €5,712 | €9,254 | €16,761 | €8,261 | €12,955 | €2,229 | ▼ 82.8% |
| Trade debts44 | €1,485 | €4,300 | €5,356 | €6,800 | €13,277 | €6,168 | €11,186 | €531 | ▼ 95.3% |
| Suppliers440/4 | - | - | - | €6,800 | €13,277 | €6,168 | €11,186 | €531 | ▼ 95.3% |
| Taxes, remuneration and social security45 | - | - | - | €2,454 | €3,484 | €2,093 | €1,769 | €703 | ▼ 60.3% |
| Taxes450/3 | - | - | - | €2,454 | €3,484 | €2,093 | €1,769 | €703 | ▼ 60.3% |
| Other amounts payable47/48 | - | - | - | - | - | - | - | €995 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €280 | -€15,453 | €1,249 | €5,685 | €1,578 | €2,916 | -€222 | €2,313 | - |
| Operating cash flow (approximation) | €280 | -€15,453 | €1,249 | €5,685 | €1,578 | €2,916 | -€222 | €2,313 | - |
| Change in cash | - | -€7 | -€31 | €5,912 | €3,004 | -€6,524 | €1,693 | -€5,640 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 34,693 companies had the same profile as DELIXIR has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of DELIXIR itself: 0.6% 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.
| 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 34,693 companies, not a prediction for DELIXIR. 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.
Latest 10 of 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 26-06-2026 | 2026-00207356 | |
| 31-12-2024 | full format | 27-06-2025 | 2025-00187594 | |
| 31-12-2023 | full format | 05-06-2024 | 2024-00111893 | |
| 31-12-2022 | full format | 15-07-2023 | 2023-00240736 | |
| 31-12-2021 | full format | 30-08-2022 | 2022-20345543 | |
| 31-12-2020 | micro format | 29-07-2021 | 2021-46000129 | |
| 31-12-2019 | micro format | 14-11-2020 | 2020-70800156 | |
| 31-12-2018 | micro format | 31-07-2019 | 2019-42200432 | |
| 31-12-2017 | micro format | 30-08-2018 | 2018-56200488 | |
| 31-12-2016 | full format | 04-07-2017 | 2017-26900448 |