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
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.
More with these figures Sector benchmark What changed Value indication
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 5,848. 1,763 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.