DL MANAGEMENT
ActiveSummary
DL MANAGEMENT has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€44,222) and a net result of €71,975. Equity is shrinking by ~11.4% per year across the filed fiscal years. Its solvency ranks better than 7% of 31958 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+19
Solvency7▲+7
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.29 against 0.25 in 2024; short-term debt: 95.4% and cash: 15.2% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-18.2%
Return on assets
29.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 7% of 31958 sector peers (2025).
NBB · sector comparisonPosition among 31958 sector peers
Solvency
better than 7%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-09-2026, 55 days 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 · 10 filingsDeviation from the deadline
2025
55 d late
2024
7 d early
2023
30 d late
2022
31 d late
2021
31 d late
2020
31 d early
2019
31 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 11 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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 31 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€44,222▲ 61.9%
2024 · -€116,197
Total assets
€243,128▼ 13.1%
2024 · €279,739
Net result
€71,975▲ 168%
2024 · €26,835
Working capital
-€163,788▲ 30.0%
2024 · -€233,825
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€5,950▲ 71.1%€30,148-€28,997€36,719€83,396▲ 127%
Net result-€16,212below the sector's middle half▲ 40.5%-€4,370below the sector's middle half▲ 73.0%-€40,891below the sector's middle half▼ 836%€26,835within the sector's middle half€71,975above the sector's middle half▲ 168%
Equity-€97,772below the sector's middle half▼ 19.9%-€102,141below the sector's middle half▼ 4.5%-€143,032below the sector's middle half▼ 40.0%-€116,197below the sector's middle half▲ 18.8%-€44,222below the sector's middle half▲ 61.9%
Total assets€332,970within the sector's middle half▼ 6.0%€271,643below the sector's middle half▼ 18.4%€248,251below the sector's middle half▼ 8.6%€279,739below the sector's middle half▲ 12.7%€243,128within the sector's middle half▼ 13.1%
Debt€416,974▼ 0.8%€361,546▼ 13.3%€380,575▲ 5.3%€386,757▲ 1.6%€279,701▼ 27.7%
Working capital-€197,551below the sector's middle half▼ 7.3%-€198,723below the sector's middle half▼ 0.6%-€237,220below the sector's middle half▼ 19.4%-€233,825below the sector's middle half▲ 1.4%-€163,788below the sector's middle half▲ 30.0%
Solvency-29.4%below the sector's middle half▼ 6.3pp-37.6%below the sector's middle half▼ 8.2pp-57.6%below the sector's middle half▼ 20.0pp-41.5%below the sector's middle half▲ 16.1pp-18.2%below the sector's middle half▲ 23.3pp
Current ratio0.14below the sector's middle half▲ 0.080.06below the sector's middle half▼ 0.090.11below the sector's middle half▲ 0.050.25below the sector's middle half▲ 0.140.29below the sector's middle half▲ 0.05
Return on assets (ROA)-4.9%below the sector's middle half▲ 2.8pp-1.6%below the sector's middle half▲ 3.3pp-16.5%below the sector's middle half▼ 14.9pp9.6%within the sector's middle half▲ 26.1pp29.6%within the sector's middle half▲ 20.0pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 127% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €243,128
Fixed assets
€174,928 ▼ 14.0%
Current assets
€68,200 ▼ 10.5%
Key figures and ratios
EBITDA
€120,034▲
2024 · €65,992
Cash flow
€108,613▲
2024 · €56,108
Debt to equity
-6.32▼
2024 · -3.33
Interest coverage
30.08▲
2024 · 10.74
Debt ≤ 1 year
€231,988▼
2024 · €310,053
Debt > 1 year
€40,310▼
2024 · €76,704
Income taxes
€8,961▲
2024 · €5,272
Staff costs
€67
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,795 companies that looked in July 2024 the way this one looks now, 2.7% went bankrupt within 24 months and 92% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.7%
went bankrupt
5.3%
stopped otherwise
92%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.9% |
| 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 3,795 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
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €67 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €48,536 | €40,271 | €45,255 | €29,273 | €36,638 | ▲ 25.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €24,000 | - |
| Other operating charges640/8 | €7,051 | €7,436 | €10,148 | €4,986 | €4,765 | ▼ 4.4% |
| Gross operating margin9900 | €49,637 | €77,854 | €26,406 | €70,978 | €148,866 | ▲ 110% |
| Operating profit (loss)9901 | -€5,950 | €30,148 | -€28,997 | €36,719 | €83,396 | ▲ 127% |
| Financial income75/76B | - | €68 | €0 | - | €0 | - |
| Recurring financial income75 | - | €68 | €0 | - | €0 | - |
| Financial charges65/66B | €7,077 | €7,508 | €7,058 | €6,142 | €3,990 | ▼ 35.0% |
| Recurring financial charges65 | €7,077 | €7,508 | €7,058 | €6,142 | €3,990 | ▼ 35.0% |
| Profit (loss) for the period before taxes9903 | -€13,027 | €22,708 | -€36,055 | €30,578 | €79,406 | ▲ 160% |
| Transfer from deferred taxes780 | €1,530 | €1,530 | €1,530 | €1,530 | €1,530 | = |
| Income taxes67/77 | €4,715 | €28,607 | €6,365 | €5,272 | €8,961 | ▲ 70.0% |
| Profit (loss) for the period9904 | -€16,212 | -€4,370 | -€40,891 | €26,835 | €71,975 | ▲ 168% |
| Transfer from tax-exempt reserves789 | €3,569 | €3,569 | €3,569 | €3,569 | €3,569 | = |
| Profit (loss) for the period to be appropriated9905 | -€12,643 | -€800 | -€37,321 | €30,405 | €75,544 | ▲ 148% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €332,970 | €271,643 | €248,251 | €279,739 | €243,128 | ▼ 13.1% |
| Fixed assets21/28 | €300,228 | €259,958 | €219,391 | €203,511 | €174,928 | ▼ 14.0% |
| Tangible fixed assets22/27 | €300,228 | €259,958 | €219,391 | €203,511 | €174,928 | ▼ 14.0% |
| Land and buildings22 | €11,549 | €11,107 | €10,665 | €10,222 | €9,780 | ▼ 4.3% |
| Plant, machinery and equipment23 | €3,600 | €2,261 | €1,127 | €489 | €37 | ▼ 92.5% |
| Furniture and vehicles24 | €57,415 | €41,192 | €28,724 | €14,764 | €18,739 | ▲ 26.9% |
| Other tangible fixed assets26 | €227,664 | €205,398 | €178,875 | €178,036 | €146,373 | ▼ 17.8% |
| Current assets29/58 | €32,742 | €11,685 | €28,860 | €76,228 | €68,200 | ▼ 10.5% |
| Amounts receivable within one year40/41 | €16,722 | €2,260 | €28,750 | €44,968 | €30,806 | ▼ 31.5% |
| Trade receivables40 | €16,722 | €2,260 | €26,260 | €44,259 | €25,057 | ▼ 43.4% |
| Other amounts receivable41 | - | - | €2,490 | €710 | €5,750 | ▲ 710% |
| Cash at bank and in hand54/58 | €11,540 | €3,118 | €111 | €30,268 | €36,980 | ▲ 22.2% |
| Deferred charges and accrued income490/1 | €4,480 | €6,308 | €0 | €992 | €414 | ▼ 58.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €332,970 | €271,643 | €248,251 | €279,739 | €243,128 | ▼ 13.1% |
| Equity10/15 | -€97,772 | -€102,141 | -€143,032 | -€116,197 | -€44,222 | ▲ 61.9% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €33,984 | €30,415 | €26,845 | €23,276 | €19,706 | ▼ 15.3% |
| Tax-exempt reserves132 | €32,125 | €28,555 | €24,986 | €21,417 | €17,847 | ▼ 16.7% |
| Distributable reserves133 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Profit (loss) carried forward14 | -€150,348 | -€151,148 | -€188,469 | -€158,064 | -€82,520 | ▲ 47.8% |
| Provisions and deferred taxes16 | €13,768 | €12,238 | €10,708 | €9,179 | €7,649 | ▼ 16.7% |
| Deferred taxes168 | €13,768 | €12,238 | €10,708 | €9,179 | €7,649 | ▼ 16.7% |
| Amounts payable17/49 | €416,974 | €361,546 | €380,575 | €386,757 | €279,701 | ▼ 27.7% |
| Amounts payable after more than one year17 | €186,681 | €151,138 | €114,494 | €76,704 | €40,310 | ▼ 47.4% |
| Financial debts170/4 | €186,681 | €151,138 | €114,494 | €76,704 | €40,310 | ▼ 47.4% |
| Amounts payable within one year42/48 | €230,292 | €210,408 | €266,081 | €310,053 | €231,988 | ▼ 25.2% |
| Current portion of amounts payable after more than one year42 | €34,485 | €36,250 | €36,644 | €40,179 | €36,394 | ▼ 9.4% |
| Financial debts43 | - | €1,231 | €722 | €0 | - | - |
| Credit institutions430/8 | - | €1,231 | €722 | €0 | - | - |
| Trade debts44 | €105,322 | €38,299 | €11,071 | €34,295 | €19,918 | ▼ 41.9% |
| Suppliers440/4 | €105,322 | €38,299 | €11,071 | €34,295 | €19,918 | ▼ 41.9% |
| Taxes, remuneration and social security45 | €11,324 | €17,519 | €17,998 | €24,606 | €17,632 | ▼ 28.3% |
| Taxes450/3 | €11,324 | €17,519 | €17,998 | €24,606 | €17,632 | ▼ 28.3% |
| Other amounts payable47/48 | €79,162 | €117,108 | €199,646 | €210,973 | €158,045 | ▼ 25.1% |
| Accrued charges and deferred income492/3 | - | - | - | - | €7,403 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€16,212 | -€4,370 | -€40,891 | €26,835 | €71,975 | ▲ 168% |
| + Depreciation and write-downs630 | €48,536 | €40,271 | €45,255 | €29,273 | €36,638 | ▲ 25.2% |
| Operating cash flow (approximation) | €32,324 | €35,901 | €4,364 | €56,108 | €108,613 | ▲ 93.6% |
| Investment in fixed assets (approximation) | - | €0 | -€4,688 | -€13,393 | -€8,054 | ▲ 39.9% |
| Change in cash | - | -€8,422 | -€3,007 | €30,157 | €6,712 | ▼ 77.7% |
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
Next filing, fiscal year 2026, expected by
2026
24-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 55 days late
2025
31-12
Financial
Highest result since 2018net €71,975 ▲168%
Operating result €83,396, net result €71,975, both a record.
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €26,835
Net result €26,835 after 4 loss-making years.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
31-12
Financial
Weakest financial yearnet -€40,891
Net result drops to -€40,891, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €945
Net result €945 after one loss-making year.
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Blankenberge · 1 establishment unit since 2011
Ground area
2,077 m²
Building footprint
536 m²
Volume, LiDAR
8,099 m³
Parcel 31602B0158/00R000, Flanders · tallest building 18.4 m, ±5 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
DL Management
since 20112.203.672.922
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31602B0158/00R000 | Flanders | 2,077 m² | 1 · 536 m² | 18.4 m · 5 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.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 82,646 companies in sector 70200 we hold annual accounts for 52,627. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded01-01-1989
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
56112Limited-service restaurants, excluding mobile food services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0436877211
Also
9925:BE0436877211
Registered
04-09-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.