Checked.be
Active
BE 0633.852.438Private limited company
DELSPAN
Joseph Stevensstraat 7 ·1000 Brussel, Belgium· 11 yrs active
Conclusion
DELSPAN has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.36M and a net result of €317k. Equity is shrinking by ~4.9% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.5% (low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €2.36M |
| Net result | €317k |
| Active | 11 yrs |
Financial profile
84
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
93
Profitability
67
Solvency
100
Growth
58
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2015, 11 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
93
/ 100
Excellent
Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€220k
estimate, not credit advice
Score history
78
2022
62
2023
86
2024
93
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 8.03 (≥ 1.5)
+10
Quick ratio
Quick ratio 8.03 (≥ 1.0)
+5
Leverage
Debt/equity 0.05 (< 1.0)
+10
Profitability
ROE 13% (≥ 10%)
+10
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 29-04-2026 with the NBB · fiscal year 2025 · full schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Equity: declining trend of ~4.9%/year over 4 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
€317k
+2808.9%
22-25
€2.47M
+20.8%
22-25
€2.36M
+15.5%
22-25
€769k
+69.9%
22-25
€115k
+3559.2%
22-25
€109k
+8138.9%
22-25
€109k
+23708.4%
22-25
8.03
-99.2%
22-25
8.03
-99.2%
22-25
95.6%
-4.4%
22-25
0.05
+7031.1%
22-25
13.4%
+2417.7%
22-25
12.9%
+2307.7%
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | full schema | full schema | full schema | full schema |
| Revenue | - | - | - | - |
| EBITDA | - | - | - | - |
| Net profit | €317k | €11k | €-1.20M | €124k |
| Cash flow | - | - | - | - |
| Staff costs | - | - | - | - |
| Income taxes | €115k | €3k | €-10 | €45k |
| Dividends | - | - | - | - |
| Total assets | €2.47M | €2.04M | €2.08M | €3.28M |
| Equity | €2.36M | €2.04M | €2.03M | €3.23M |
| Debt | €109k | €1k | €47k | €45k |
| of which ≤ 1y | €109k | €459 | €45k | €45k |
| of which > 1y | - | - | - | - |
| Working capital | €769k | €452k | €441k | €435k |
| Employees (FTE) | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 8.03 | 986.06 | 10.78 | 10.66 |
| Quick ratio | 8.03 | 986.06 | 10.78 | 10.66 |
| Working capital ratio | 31.2% | 22.2% | 21.2% | 13.3% |
| Solvency | 95.6% | 99.9% | 97.8% | 98.6% |
| Debt / equity | 0.05 | 0.00 | 0.02 | 0.01 |
| Long-term debt ratio | - | - | - | - |
| Interest coverage | - | - | - | - |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | 12.9% | 0.5% | -57.9% | 3.8% |
| ROE | 13.4% | 0.5% | -59.2% | 3.8% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (22 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €2.47M | €2.04M | €2.08M | €3.28M |
| Fixed assets | 21/28 | €1.59M | €1.59M | €1.59M | €2.80M |
| Financial fixed assets | 28 | €1.59M | €1.59M | €1.59M | €2.80M |
| Current assets | 29/58 | €878k | €453k | €486k | €480k |
| Amounts receivable within one year | 40/41 | - | €7k | €2k | - |
| Investments | 50/53 | €800k | €400k | €450k | - |
| Cash & bank | 54/58 | €78k | €43k | €29k | €480k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €2.47M | €2.04M | €2.08M | €3.28M |
| Equity | 10/15 | €2.36M | €2.04M | €2.03M | €3.23M |
| Contributions / capital | 10/11 | €3.03M | €3.03M | €3.03M | €3.03M |
| Accumulated profits (losses) | 14 | €-673k | €-990k | €-1.00M | €201k |
| Amounts payable | 17/49 | €109k | €1k | €47k | €45k |
| Amounts payable within one year | 42/48 | €109k | €459 | €45k | €45k |
| Trade debts payable within one year | 44 | - | €459 | - | - |
| Income statement | |||||
| Gross operating margin | 9900 | €-4k | €-4k | €-4k | €-4k |
| Operating result | 9901 | €-4k | €-4k | €-4k | €-4k |
| Financial income | 75 | €436k | €19k | €5k | €173k |
| Financial charges | 65 | €505 | €416 | €3k | €416 |
| Result before taxes | 9903 | €432k | €14k | €-1.20M | €169k |
| Income taxes | 67/77 | €115k | €3k | €-10 | €45k |
| Net result for the period | 9904 | €317k | €11k | €-1.20M | €124k |
| Result to be appropriated | 9905 | €317k | €11k | €-1.20M | €124k |
Legal Structure
| NACE primary | - |
| Legal form | Private limited company(610) |
| Incorporation | 15-07-2015 |
| Status | Active |
| Postal code | 1000 |
Real-estate footprint
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21808H1372/00K000 | Brussels | 2,159 m² | 1 · 2,113 m² | 88.8 m · 7 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
29-04
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2022net €317k ▲2809%
Net result €317k, the highest in the series.
07-02
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €11k
Net result €11k after one loss-making year.
31-12
Financial
Liquidity times 91current ratio 986.06
Current ratio from 10.78 to 986.06; short-term debt falls from €45k to €459.
18-04
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet €-1.20M ▼1070%
Net result drops to €-1.20M, the lowest in the series; recovery starts the following year.
07-03
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
05-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
27-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
24-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
03-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
19-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
12-01
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 165 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Names & trade names
| Legal nameFR | DELSPAN |