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DFH MARKET

Active
Public limited companyfounded 20233 yrs activeBoulevard Gustave-Kleyer 3, 4000 Liège, BelgiumKBO/BCE: BE 0805.989.232
Summary

The computed 12-month bankruptcy probability of DFH MARKET is 1.6% (moderate). The 2025 annual accounts show equity of €240,256 and a net result of €90,959. Its solvency ranks better than 16% of 4238 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.

Checked score

Score 2025
Axes · tick = 2024
Profitability53▲+21
Solvency30▲+2
Growth78
Track record94
Bankruptcy probability, 12 months
1.6% Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €12,000 at 30 days acceptable
Liquidity short (current ratio 0.94 against 0.71 in 2024; short-term debt: 43.9% and cash: 20.1% of total assets), and 94.9% of the assets are financed with debt.
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Signals

Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 3 years 0 10 y
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 →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
5.1%
Return on assets
1.9%
Age of the figures
9 mo
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 4238 sector peers (2025).
NBB · sector comparison
Position among 4238 sector peers
Solvency
better than 16%
← weakest strongest →
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 24-07-2026, 7 days ahead of the deadline.
NBB · 2 filings
Deviation from the deadline
2025
7 d early
2024
5 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 2 accounts on average 6 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% 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.
Companies Code · seven months
Position in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 19 September 2023, DFH MARKET was incorporated as a Public limited company.1 The company has filed 2 sets of annual accounts, the latest for fiscal year 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2025

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Financials · fiscal year 2025, full schema

Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€90,959
2024 · -€80,702
Working capital
-€124,794▲ 76.5%
2024 · -€530,445
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.

Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).

Every figure with its change against the fiscal year before
favourable unfavourable
Line20242025
Operating result€38,979-€267,995▲ 588%
Net result-€80,702below the sector's middle half-€90,959within the sector's middle half
Equity€149,298within the sector's middle half-€240,256within the sector's middle half▲ 60.9%
Total assets€4.4mabove the sector's middle half-€4.7mabove the sector's middle half▲ 7.9%
Debt€4.2m-€4.5m▲ 6.0%
Working capital-€530,445below the sector's middle half--€124,794below the sector's middle half▲ 76.5%
Solvency3.4%below the sector's middle half-5.1%below the sector's middle half▲ 1.7pp
Current ratio0.71below the sector's middle half-0.94below the sector's middle half▲ 0.23
Return on assets (ROA)-1.8%below the sector's middle half-1.9%within the sector's middle half▲ 3.8pp
Staff (FTE)23above the sector's middle half-30.9above the sector's middle half▲ 34.3%
above within below the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
-€100,000€0€100,000€200,000€300,000Operating result 2024: €38,979€38,979Net result 2024: -€80,702-€80,702Operating result 2025: €267,995€267,995Net result 2025: €90,959€90,95920242025-€100,000€0€100,000€200,000€300,000Operating result 2024: €38,979€39,000Net result 2024: -€80,702-€80,700Operating result 2025: €267,995€268,000Net result 2025: €90,959€91,00020242025
The operating result rises in 2025; 2025 is 588% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.7m
Fixed assets €2.8m ▼ 9.5%
Current assets €2.0m ▲ 48.9%
Equity and liabilities €4.7m
Equity €240,256 ▲ 60.9%
Debt €4.5m ▲ 6.0%
Debt's share of the balance-sheet total falls from 96.6% to 94.9%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€670,662▲
2024 · €256,497
Cash flow
€493,625▲
2024 · €136,816
Quick ratio
0.65▲
2024 · 0.46
Debt to equity
18.67▼
2024 · 28.34
ROE
37.9%▲
2024 · -54.1%
Interest coverage
3.86▲
2024 · 1.92
Debt ≤ 1 year
€2.1m▲
2024 · €1.8m
Debt > 1 year
€2.4m▼
2024 · €2.4m
Income taxes
€20,637▲
2024 · €293
Staff costs
€1.0m▼
2024 · €1.3m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 1,514 companies that looked in July 2024 the way this one looks now, 2.4% went bankrupt within 24 months and 96% are still going.

  • Small
  • 2 to 5 years old
  • solvency under 10%
  • a profit under 5% of the balance sheet
2.4% went bankrupt
1.5% stopped otherwise
96% still going

A further 0.2% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 1.6% over twelve months; the group does not contradict it.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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% 1.0%
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%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.

An observation about 1,514 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 53 lines
Balance sheet Code20242025
Assets
Total assets20/58€4.4m€4.7m▲
Formation expenses20€15,806€12,020▼
Fixed assets21/28€3.1m€2.8m▼
Intangible fixed assets21€816,961€724,355▼
Tangible fixed assets22/27€2.2m€2.0m▼
Plant, machinery and equipment23€653,683€572,864▼
Furniture and vehicles24€305,830€259,445▼
Other tangible fixed assets26€1.3m€1.2m▼
Current assets29/58€1.3m€2.0m▲
Stocks and contracts in progress3€464,364€591,889▲
Stocks30/36€464,364€591,889▲
Amounts receivable within one year40/41€123,376€187,559▲
Trade receivables40€13,871€133,610▲
Other amounts receivable41€109,505€53,949▼
Cash at bank and in hand54/58€567,228€950,933▲
Deferred charges and accrued income490/1€156,109€221,484▲
Equity and liabilities
Total equity and liabilities10/49€4.4m€4.7m▲
Equity10/15€149,298€240,256▲
Contributions10/11€230,000€230,000=
Capital10€230,000€230,000=
Issued capital100€230,000€230,000=
Profit (loss) carried forward14-€80,702€10,256▲
Amounts payable17/49€4.2m€4.5m▲
Amounts payable after more than one year17€2.4m€2.4m▼
Financial debts170/4€2.4m€2.4m▼
Other amounts payable178/9€3,800€3,800=
Amounts payable within one year42/48€1.8m€2.1m▲
Current portion of amounts payable after more than one year42€162,769€337,573▲
Trade debts44€1.3m€1.3m▼
Suppliers440/4€1.3m€1.3m▼
Taxes, remuneration and social security45€127,309€218,660▲
Taxes450/3€11,529€38,886▲
Remuneration and social security454/9€115,780€179,774▲
Other amounts payable47/48€229,713€224,874▼
Accrued charges and deferred income492/3€24,338€52,426▲
Income statement Code20242025
Non-recurring operating income76A-€94,334
Remuneration, social security and pensions62€1.3m€1.0m▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€217,518€402,666▲
Other operating charges640/8€69,227€38,466▼
Non-recurring operating charges66A€450€1,933▲
Gross operating margin9900€1.6m€1.7m▲
Operating profit (loss)9901€38,979€267,995▲
Financial income75/76B€14,378€17,565▲
Recurring financial income75€14,378€17,565▲
Financial charges65/66B€133,767€173,965▲
Recurring financial charges65€133,767€173,965▲
Profit (loss) for the period before taxes9903-€80,410€111,596▲
Income taxes67/77€293€20,637▲
Profit (loss) for the period9904-€80,702€90,959▲
Profit (loss) for the period to be appropriated9905-€80,702€90,959▲
Appropriation of the result
Profit (loss) to be appropriated9906-€80,702€10,256▲
Profit (loss) brought forward from the previous period14P--€80,702
Social balance
Average headcount (FTE)908723.030.9▲

The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20242025Change
Non-recurring operating income76A-€94,334-
Remuneration, social security and pensions62€1.3m€1.0m▼ 23.4%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€217,518€402,666▲ 85.1%
Other operating charges640/8€69,227€38,466▼ 44.4%
Non-recurring operating charges66A€450€1,933▲ 330%
Gross operating margin9900€1.6m€1.7m▲ 4.8%
Operating profit (loss)9901€38,979€267,995▲ 588%
Financial income75/76B€14,378€17,565▲ 22.2%
Recurring financial income75€14,378€17,565▲ 22.2%
Financial charges65/66B€133,767€173,965▲ 30.1%
Recurring financial charges65€133,767€173,965▲ 30.1%
Profit (loss) for the period before taxes9903-€80,410€111,596▲ 239%
Income taxes67/77€293€20,637▲ 6,947%
Profit (loss) for the period9904-€80,702€90,959▲ 213%
Profit (loss) for the period to be appropriated9905-€80,702€90,959▲ 213%
Line20242025Change
Assets
Total assets20/58€4.4m€4.7m▲ 7.9%
Formation expenses20€15,806€12,020▼ 24.0%
Fixed assets21/28€3.1m€2.8m▼ 9.5%
Intangible fixed assets21€816,961€724,355▼ 11.3%
Tangible fixed assets22/27€2.2m€2.0m▼ 8.9%
Plant, machinery and equipment23€653,683€572,864▼ 12.4%
Furniture and vehicles24€305,830€259,445▼ 15.2%
Other tangible fixed assets26€1.3m€1.2m▼ 5.6%
Current assets29/58€1.3m€2.0m▲ 48.9%
Stocks and contracts in progress3€464,364€591,889▲ 27.5%
Stocks30/36€464,364€591,889▲ 27.5%
Amounts receivable within one year40/41€123,376€187,559▲ 52.0%
Trade receivables40€13,871€133,610▲ 863%
Other amounts receivable41€109,505€53,949▼ 50.7%
Cash at bank and in hand54/58€567,228€950,933▲ 67.6%
Deferred charges and accrued income490/1€156,109€221,484▲ 41.9%
Equity and liabilities
Total equity and liabilities10/49€4.4m€4.7m▲ 7.9%
Equity10/15€149,298€240,256▲ 60.9%
Contributions10/11€230,000€230,000=
Capital10€230,000€230,000=
Issued capital100€230,000€230,000=
Profit (loss) carried forward14-€80,702€10,256▲ 113%
Amounts payable17/49€4.2m€4.5m▲ 6.0%
Amounts payable after more than one year17€2.4m€2.4m▼ 0.3%
Financial debts170/4€2.4m€2.4m▼ 0.3%
Other amounts payable178/9€3,800€3,800=
Amounts payable within one year42/48€1.8m€2.1m▲ 12.8%
Current portion of amounts payable after more than one year42€162,769€337,573▲ 107%
Trade debts44€1.3m€1.3m▼ 2.0%
Suppliers440/4€1.3m€1.3m▼ 2.0%
Taxes, remuneration and social security45€127,309€218,660▲ 71.8%
Taxes450/3€11,529€38,886▲ 237%
Remuneration and social security454/9€115,780€179,774▲ 55.3%
Other amounts payable47/48€229,713€224,874▼ 2.1%
Accrued charges and deferred income492/3€24,338€52,426▲ 115%
Line20242025Change
Profit (loss) for the period9904-€80,702€90,959▲ 213%
+ Depreciation and write-downs630€217,518€402,666▲ 85.1%
Operating cash flow (approximation)€136,816€493,625▲ 261%
Investment in fixed assets (approximation)--€111,801-
Change in cash-€383,705-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
24-07
NBB filing Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial Back to profitnet €90,959
Net result €90,959 after one loss-making year.
31-12
Financial Equity above €200,000Eq €240,256 ▲60.9%
Equity rises from €149,298 to €240,256.
26-07
NBB filing Annual accounts filed
fiscal year 2024 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts

We know of 3 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
No directors read yet: 0 of 3 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Liège · 1 establishment unit since 2023
seat establishment The establishment unit on the map
Ground area
6,918 m²
Building footprint
1,948 m²
Volume, LiDAR
10,949 m³
Parcel 62804D0297/00L000, Wallonia · tallest building 19.1 m, ±2 floors. Linked by address, not a title deed.
2 companies at this address See who is registered here
1 establishment unit
Boulevard Gustave-Kleyer 3, 4000 Liège
Supermarkets
since 20232.350.223.490
1 parcel
Wallonia 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
62804D0297/00L000 Wallonia 6,918 m² 1 · 1,948 m² 19.1 m · 2 fl.
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.

Recognitions · licences · registrations

Food safety, FASFC

1 site
Liège2.350.223.490
4 permissions
Toelating · Viswinkel · since 29-10-2024
Toelating · Vleeswinkel · since 15-12-2023
Toelating · Bakkerij · since 30-10-2023
and 1 more

Similar companies · same sector, comparable size

Of 10,504 companies in this sector we hold annual accounts for 5,855. 4,023 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Company details

Identification
Legal formPublic limited company
Founded19-09-2023
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
E-invoicing
Reachable via Peppol
Peppol ID 0208:0805989232
Registered 12-12-2025

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 30 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.