Financials
- Fiscal year
- 2025
- Turnover
- €163.1m
- Loss
- -€8.1m
- Solvency
- 39.5%
Turnover▲ 8.9%
Net result
20182025
DFDS Belgium
ActiveSummary
The computed 12-month bankruptcy probability of DFDS Belgium is 1.5% (moderate). The 2025 annual accounts show equity of €24.3m and a net result of -€8.1m. Equity is growing by ~14% per year across the filed fiscal years. Its solvency ranks better than 52% of 846 sector peers (fiscal year 2025). The company has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals.
Overview
Activity
Warehousing and support activities for transportation
NACE 52220Telecommunications resale and intermediation services NACE 61200NACE 63111
#5 employer in Ghent, Transport and storage sector4 sites
Size
€163.1mturnover 2025
- Staff
- 247.4 FTE
- Equity
- €24.3m
- Loss
- -€8.1m
Structure
- Parent
- Dfds A/S · 100%
Accounts 49 d early1 of 30 deeds read
Why 62- Loss of €8.1m, the second in a row (FY 2025)- Liquidity: current ratio 1.35, cash €1,750- Sector Warehousing and support activities for transportation (NACE 52)+ Size: turnover €163.1m, 247.4 FTE, total assets €61.6mShow the evidence
Checked score
Score 2025
62
/ 100
Healthy
Probability in this band: 0.55% to 1.5%
Better than 32% of its sector peers (NACE 52, medium-sized)
Performance against the sector, not lower risk
Financial strength · tick = 2024
Weak
Solvency
64-9
equity 39.5% of total assets
Liquidity
20-5
short-term debt 58.8% · cash 0.0%
Profitability
3-10
return on assets -13.2%
Bankruptcy probability, 12 months
1.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.6%
12-2024: 0.6%● 0.0% vs 11-2024
01-2025: 0.6%● 0.0% vs 12-2024
02-2025: 0.6%▼ -3.6% vs 01-2025
03-2025: 0.6%▲ +1.5% vs 02-2025
04-2025: 0.6%▼ -2.4% vs 03-2025lowest value
05-2025: 0.6%▲ +3.0% vs 04-2025
06-2025: 0.6%▲ +2.9% vs 05-2025
07-2025: 0.8%▲ +30.6% vs 06-2025
08-2025: 0.8%● 0.0% vs 07-2025
09-2025: 0.8%● 0.0% vs 08-2025
10-2025: 0.8%● 0.0% vs 09-2025
11-2025: 0.8%● 0.0% vs 10-2025
12-2025: 0.8%● 0.0% vs 11-2025
01-2026: 0.8%● 0.0% vs 12-2025
02-2026: 0.8%▼ -3.5% vs 01-2026
03-2026: 0.8%▲ +1.4% vs 02-2026
04-2026: 0.8%▼ -2.3% vs 03-2026
05-2026: 0.8%▲ +2.9% vs 04-2026
06-2026: 0.8%▲ +2.2% vs 05-2026
07-2026: 1.5%▲ +78.9% vs 06-2026highest value
08-2026: 1.5%● 0.0% vs 07-2026highest value
09-2026: 1.5%● 0.0% vs 08-2026highest value
10-2026: 1.5%● 0.0% vs 09-2026highest value
- Loss of €8.1m, the second in a row (FY 2025) raises the probability
- Liquidity: current ratio 1.35, cash €1,750 raises the probability
- Sector Warehousing and support activities for transportation (NACE 52) raises the probability
- Size: turnover €163.1m, 247.4 FTE, total assets €61.6m lowers the probability for this profile
Credit up to €1,500,000 at 30 days acceptable
Liquidity tight (current ratio 1.35 against 1.59 in 2024; short-term debt: 58.8% and cash: 0% of total assets), and 60.5% of the assets are financed with debt.
How it is calculated
The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.
| 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% |
Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 52, medium-sized). Better than this share of them on solvency 60%, liquidity 23%, profitability 6%, growth against the median 39%. That is performance, not lower risk; the band itself always comes from the probability.
Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.
Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€8.1m
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 12-06-2026, 49 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
49 d early
2024
45 d early
2023
72 d late
2022
25 d early
2021
61 d early
2020
33 d early
2019
32 d early
← 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 25 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 16 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
04-10-2026 today31-12-2026 close31-07-2027 deadline
- Resignation: Torben Carlsen (director)State Gazette act
- Annual accounts filedfiscal year 2025 · full…
- Weakest financial yearnet -€8.1m
Key points
- Caution: Result fell in 2025from -€3.2m to -€8.1m ▼ 158% View
- Caution: Among the weakest 5% on net resultsector median €111,762 · 839 companies -€8.1m View
- Controlled by Dfds A/Sknown shareholders 100% 100% View
- Caution: 2 loss-making years in a rowloss fiscal year 2025 -€8.1m View
- Flemish supportawarded 2023 - 2025 €1.5m View
- A director leftlatest change 17-04-2026 · 0 in office 1 left View
By topic
Board & ownership
- Parent
- Dfds A/S · 100%
- Known shareholders
- 100%
Timeline
- Events
- 15
- Since
- 2017
- Next accounts
- by 31-07-2027
- 23-09-2026Resignation: Torben Carlsen (director)
- 12-06-2026Annual accounts filed
- 31-12-2025Weakest financial year
Company details
- Sites
- 4
- Legal form
- Public limited company
- Activity
- Warehousing and support activities for transportationNACE 52220
- Founded
- 24-01-1991
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
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