Delwa
ActiveSummary
Delwa has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.55M and a net result of €1.40M. Equity is growing by ~58.3% per year across the filed fiscal years. Its solvency ranks better than 31% of 9624 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability94▲+58
Solvency48▲+21
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €90k at 30 days only on tighter terms
Liquidity short (current ratio 0.71 against 0.4 in 2023; short-term debt: 50.5% and cash: 10.9% of total assets), and 77.4% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts not filed
The financial year that closed on 29-09-2025 was due at the National Bank by 29-04-2026. Nothing is on record, 149 days later.
NBB · 6 filingsPosition against the passed deadline
29-09-2025 close29-04-2026 deadline25-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 29-09-2024 was due by 29-04-2025 and was filed on 30-04-2025, 1 day later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 6 filingsDeviation from the deadline
2025
not filed
2024
1 d late
2023
6 d early
2021
4 d early
2020
1 d early
2019
30 d early
2018
34 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2024, abbreviated schema
Equity
€1.55M▲ 1,040%
2023 · €136k
Total assets
€6.84M▲ 5.0%
2023 · €6.52M
Net result
€1.40M
2023 · €-456k
Working capital
€-999k▲ 61.4%
2023 · €-2.59M
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20192020202120232024
Operating result€52k€325k▲ 523%€175k▼ 46.1%€-363k-€1.43M
Net result€22k€283k▲ 1,194%€121k▼ 57.2%€-456k-€1.40M
Equity€104k▲ 26.5%€387k▲ 271%€508k▲ 31.3%€136k-€1.55M▲ 1,040%
Total assets€1.75M▼ 6.9%€1.76M▲ 0.2%€2.02M▲ 15.1%€6.52M-€6.84M▲ 5.0%
Debt€1.65M▼ 8.5%€1.37M▼ 16.9%€1.51M▲ 10.6%€6.38M-€5.29M▼ 17.1%
Working capital€-200k▲ 48.1%€-352k▼ 76.6%€-77k▲ 78.2%€-2.59M-€-999k▲ 61.4%
Staff (FTE)23.5▲ 3.1%25.5▲ 8.5%26▲ 2.0%35.8-47▲ 31.3%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €1.43M after a loss of €363k in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €6.74M
Fixed assets
€4.29M ▼ 8.0%
Current assets
€2.45M ▲ 42.5%
Equity and liabilities €6.84M
Equity
€1.55M ▲ 1,040%
Debt
€5.29M ▼ 17.1%
Debt's share of the balance-sheet total falls from 97.9% to 77.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.93M▲
2023 · €365k
Cash flow
€1.89M▲
2023 · €272k
Current ratio
0.71▲
2023 · 0.40
Quick ratio
0.47▲
2023 · 0.21
Debt to equity
3.42▼
2023 · 47.04
ROE
90.2%▲
2023 · -336.2%
ROA
20.4%▲
2023 · -7.0%
Interest coverage
34.63▲
2023 · 3.09
Debt ≤ 1 year
€3.45M▼
2023 · €4.31M
Debt > 1 year
€1.83M▼
2023 · €2.05M
Income taxes
€339▲
2023 · €165
Staff costs
€1.81M▼
2023 · €2.72M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €921k | €2.72M | €1.81M | ▼ 33.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €184k | €176k | €183k | €728k | €496k | ▼ 31.9% |
| Other operating charges640/8 | - | - | €2k | €6k | €5k | ▼ 24.7% |
| Operating charges capitalised as restructuring costs649 | - | - | - | €-169k | €0 | ▲ 100% |
| Non-recurring operating charges66A | - | - | - | €169k | €0 | ▼ 100% |
| Gross operating margin9900 | €1.11M | €1.39M | €1.28M | €3.09M | €3.74M | ▲ 21.1% |
| Operating profit (loss)9901 | €52k | €325k | €175k | €-363k | €1.43M | ▲ 494% |
| Financial income75/76B | - | - | €17k | €25k | €21k | ▼ 16.3% |
| Recurring financial income75 | €117 | €2k | €17k | €25k | €21k | ▼ 16.3% |
| Financial charges65/66B | - | - | €31k | €118k | €56k | ▼ 52.9% |
| Recurring financial charges65 | €30k | €31k | €31k | €118k | €56k | ▼ 52.9% |
| Profit (loss) for the period before taxes9903 | €22k | €295k | €161k | €-456k | €1.40M | ▲ 406% |
| Income taxes67/77 | €152 | €12k | €40k | €165 | €339 | ▲ 105% |
| Profit (loss) for the period9904 | €22k | €283k | €121k | €-456k | €1.40M | ▲ 406% |
| Profit (loss) for the period to be appropriated9905 | €22k | €283k | €121k | €-456k | €1.40M | ▲ 406% |
| Line | 2019 | 2020 | 2021 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.75M | €1.76M | €2.02M | €6.52M | €6.84M | ▲ 5.0% |
| Formation expenses20 | €608 | €407 | €207 | €129k | €96k | ▼ 26.1% |
| Fixed assets21/28 | €877k | €746k | €594k | €4.67M | €4.29M | ▼ 8.0% |
| Intangible fixed assets21 | €342k | €294k | €247k | €152k | €104k | ▼ 31.3% |
| Tangible fixed assets22/27 | €529k | €446k | €341k | €4.51M | €4.18M | ▼ 7.3% |
| Plant, machinery and equipment23 | - | - | €308k | €2.91M | €2.71M | ▼ 7.0% |
| Furniture and vehicles24 | - | - | €13k | €119k | €99k | ▼ 17.0% |
| Other tangible fixed assets26 | - | - | €20k | €1.48M | €1.37M | ▼ 7.0% |
| Financial fixed assets28 | €6k | €6k | €6k | €6k | €6k | = |
| Current assets29/58 | €876k | €1.01M | €1.43M | €1.72M | €2.45M | ▲ 42.5% |
| Amounts receivable after more than one year29 | - | - | €67k | €31k | €13k | ▼ 57.8% |
| Other amounts receivable291 | - | - | €67k | €31k | €13k | ▼ 57.8% |
| Stocks and contracts in progress3 | €539k | €535k | €551k | €801k | €845k | ▲ 5.5% |
| Stocks30/36 | - | - | €551k | €801k | €845k | ▲ 5.5% |
| Amounts receivable within one year40/41 | €83k | €144k | €320k | €363k | €690k | ▲ 90.1% |
| Trade receivables40 | - | - | €204k | €151k | €650k | ▲ 331% |
| Other amounts receivable41 | - | - | €116k | €212k | €40k | ▼ 81.4% |
| Cash at bank and in hand54/58 | €142k | €284k | €475k | €362k | €747k | ▲ 106% |
| Deferred charges and accrued income490/1 | - | - | €16k | €165k | €159k | ▼ 3.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.75M | €1.76M | €2.02M | €6.52M | €6.84M | ▲ 5.0% |
| Equity10/15 | €104k | €387k | €508k | €136k | €1.55M | ▲ 1,040% |
| Contributions10/11 | €400k | - | €400k | €400k | €400k | = |
| Reserves13 | - | - | €108k | €108k | €1.05M | ▲ 872% |
| Distributable reserves133 | - | - | €108k | €108k | €1.05M | ▲ 872% |
| Profit (loss) carried forward14 | €-296k | €-13k | €0 | €-456k | €0 | ▲ 100% |
| Investment grants15 | - | - | - | €84k | €99k | ▲ 18.2% |
| Amounts payable17/49 | €1.65M | €1.37M | €1.51M | €6.38M | €5.29M | ▼ 17.1% |
| Amounts payable after more than one year17 | €562k | €0 | - | €2.05M | €1.83M | ▼ 10.9% |
| Financial debts170/4 | - | - | - | €2.05M | €1.83M | ▼ 10.9% |
| Amounts payable within one year42/48 | €1.08M | €1.36M | €1.51M | €4.31M | €3.45M | ▼ 19.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €242k | €243k | ▲ 0.5% |
| Trade debts44 | €930k | €778k | €836k | €2.48M | €2.78M | ▲ 12.1% |
| Suppliers440/4 | - | - | €836k | €2.48M | €2.78M | ▲ 12.1% |
| Advances received on contracts in progress46 | - | - | €10k | €3k | €6k | ▲ 93.7% |
| Taxes, remuneration and social security45 | - | - | €158k | €221k | €329k | ▲ 49.0% |
| Taxes450/3 | - | - | €41k | €8k | €45k | ▲ 474% |
| Remuneration and social security454/9 | - | - | €117k | €213k | €284k | ▲ 33.4% |
| Other amounts payable47/48 | - | - | €502k | €1.36M | €95k | ▼ 93.0% |
| Accrued charges and deferred income492/3 | - | - | €10k | €22k | €11k | ▼ 49.3% |
| Line | 2019 | 2020 | 2021 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €22k | €283k | €121k | €-456k | €1.40M | ▲ 406% |
| + Depreciation and write-downs630 | €184k | €176k | €183k | €728k | €496k | ▼ 31.9% |
| Operating cash flow (approximation) | €206k | €459k | €304k | €272k | €1.89M | ▲ 596% |
| Investment in fixed assets (approximation) | - | €-46k | €-31k | - | €-121k | - |
| Change in cash | - | €142k | €191k | - | €385k | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 1 day late
2024
29-09
Financial
Back to profitnet €1.40M
Net result €1.40M after one loss-making year.
29-09
Financial
Equity above €1MEq €1.55M ▲1,040%
Equity rises from €136k to €1.55M.
23-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
29-09
Financial
Weakest financial yearnet €-456k
Net result drops to €-456k, the lowest in the series; recovery starts the following year.
2022
26-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Equity above €500kEq €508k ▲31.3%
3 profitable years in a row build equity to €508k.
29-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-09
Financial
Equity above €200kEq €387k ▲271%
2 profitable years in a row build equity to €387k.
31-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-09
Financial
Back to profitnet €22k
Net result €22k after one loss-making year.
30-09
Financial
Equity above €100kEq €104k ▲26.5%
Equity rises from €82k to €104k.
27-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Waregem · 1 establishment unit since 2017
Ground area
1.5 ha
Building footprint
5,603 m²
Volume, LiDAR
14,900 m³
Parcel 34035B0029/00D003, Flanders · tallest building 14.8 m. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
Delwa
since 20172.264.731.749
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34035B0029/00D003 | Flanders | 1.5 ha | 1 · 5,603 m² | 14.8 m |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 13 entries · 93,345 EUR awarded · 70,961 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 5 | 11,363 EUR | 11,363 EUR |
| 2024 | 4 | 16,662 EUR | 39,046 EUR |
| 2023 | 2 | 60,635 EUR | 15,867 EUR |
| 2022 | 2 | 4,685 EUR | 4,685 EUR |
Schemes
GREEN-investeringssteun (Groener en Efficiënter Energieverbruik)
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Aanwervingsincentive voor langdurig werkzoekenden (AWI) - Stopgezet
Premie kwalificerend werkplekleren
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Show 1 more
Ecologiepremie+
Recognitions · licences · registrations
Food safety, FASFC
1 siteWaregem2.264.731.749
Dual-learning approval
8 live approvalsMedewerker fastfood (vwo)
Medewerker fastfood duaal (so)
Medewerker slagerij (vwo)
Medewerker slagerij duaal (so)
Onthaal, organisatie en sales duaal (so)
Slagerij duaal (so)
Show 2 more
Winkelmedewerker (vwo)
Winkelmedewerker duaal (so)
Legal Entity Identifier
6488P61T0D2YQ751ZH07
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Of 10,506 companies in sector 47110 we hold annual accounts for 5,849. 1,765 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded22-03-2017
Fiscal year end29-09
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
Scores and ratios are computed by Checked and are not a credit decision.