NELEN & DELBEKE

Active

Public limited companyfounded 198343 yrs activeIndustriezone(KRU) 17, 9770 Kruisem, BelgiumKBO/BCE: BE 0424.091.126

Summary

NELEN & DELBEKE has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.50M and a net result of €120k. Equity is growing by ~9.8% per year across the filed fiscal years. Its solvency ranks better than 36% of 231 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).

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Checked score

Score 2024

72 / 100

Healthy

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability72▼-4

Solvency60▲+6

Growth78=

Track record100

Bankruptcy probability, 12 months

0.1% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €100k at 30 days acceptable

Liquidity tight (current ratio 1.19 against 1.18 in 2023; short-term debt: 35.6% and cash: 8.9% of total assets), and 65.2% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Five signals. The signal on the left, the evidence on the right.

−lowers risk○neutral

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 13

Relative position

BE, all sectors

reference

Sector 13

lower

← fewer bankruptcies more bankruptcies →

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

34.8%

Return on assets

2.8%

Age of the figures

21 mo

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 08-07-2025, 23 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

23 d early

2023

71 d late

2022

57 d late

2021

39 d early

2020

17 d early

2019

139 d late

← before the deadline after the deadline →

Checked, nothing found (1)

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

Financials · fiscal year 2024, abbreviated schema

Equity

€1.50M▲ 1.3%

2023 · €1.48M

2018: €793k 2019: €832k 2020: €832k 2021: €1.37M 2022: €1.38M 2023: €1.48M

2018 → 2024

Total assets

€4.33M▼ 14.1%

2023 · €5.04M

2018: €2.70M 2019: €2.80M 2020: €3.26M 2021: €3.53M 2022: €3.76M 2023: €5.04M

2018 → 2024

Net result

€120k▼ 60.3%

2023 · €302k

2018: €75k 2019: €39k 2020: €265k 2021: €726k 2022: €213k 2023: €302k

2018 → 2024

Working capital

€286k▼ 20.8%

2023 · €362k

2018: €639k 2019: €632k 2020: €454k 2021: €974k 2022: €790k 2023: €362k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€832k-€1.37M▲ 64.7%€1.38M▲ 0.9%€1.48M▲ 7.4%€1.50M▲ 1.3%

Operating result€348k-€1.04M▲ 198%€323k▼ 68.9%€363k▲ 12.5%€200k▼ 45.0%

Net result€265k-€726k▲ 174%€213k▼ 70.7%€302k▲ 42.1%€120k▼ 60.3%

Turnover and EBIT margin not published: the abbreviated schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result falls in 2024; 2024 is 45% below 2023 and is the lowest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €4.33M

57.8%

42.2%

Fixed assets €2.50M ▼ 4.6%

Current assets €1.83M ▼ 24.4%

Equity and liabilities €4.33M

34.8%

65.2%

Equity €1.50M ▲ 1.3%

Debt €2.83M ▼ 20.6%

Debt's share of the balance-sheet total falls from 70.6% to 65.2%. Equity is higher and debt is lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€570k▼

2023 · €583k

Cash flow

€490k▼

2023 · €522k

Current ratio

1.19▲

2023 · 1.18

Quick ratio

0.66▼

2023 · 0.83

Debt to equity

1.88▼

2023 · 2.40

ROE

8.0%▼

2023 · 20.3%

ROA

2.8%▼

2023 · 6.0%

Interest coverage

11.61▲

2023 · 10.11

Debt ≤ 1 year

€1.54M▼

2023 · €2.06M

Debt > 1 year

€1.28M▼

2023 · €1.50M

Income taxes

€66k▲

2023 · €24k

Staff costs

€1.23M▲

2023 · €1.19M

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Filed annual accounts As filed with the NBB · 2024 against 2023 · 61 lines

Balance sheet Code20232024

Assets

Total assets20/58€5.04M€4.33M▼

Fixed assets21/28€2.62M€2.50M▼

Intangible fixed assets21€13k€8k▼

Tangible fixed assets22/27€2.61M€2.49M▼

Plant, machinery and equipment23€175k€94k▼

Furniture and vehicles24€367k€320k▼

Leasing and similar rights25€377k€291k▼

Other tangible fixed assets26€1.69M€1.79M▲

Current assets29/58€2.42M€1.83M▼

Stocks and contracts in progress3€716k€812k▲

Stocks30/36€716k€812k▲

Amounts receivable within one year40/41€1.47M€560k▼

Trade receivables40€1.13M€555k▼

Other amounts receivable41€343k€5k▼

Current investments50/53€543€547▲

Cash at bank and in hand54/58€219k€386k▲

Deferred charges and accrued income490/1€8k€68k▲

Equity and liabilities

Total equity and liabilities10/49€5.04M€4.33M▼

Equity10/15€1.48M€1.50M▲

Contributions10/11€254k€254k=

Capital10€254k€254k=

Issued capital100€254k€254k=

Reserves13€438k€438k=

Non-distributable reserves130/1€25k€25k=

Legal reserve130€25k€25k=

Distributable reserves133€413k€413k=

Profit (loss) carried forward14€792k€812k▲

Amounts payable17/49€3.56M€2.83M▼

Amounts payable after more than one year17€1.50M€1.28M▼

Financial debts170/4€1.50M€1.28M▼

Amounts payable within one year42/48€2.06M€1.54M▼

Current portion of amounts payable after more than one year42€287k€222k▼

Financial debts43€38k-

Credit institutions430/8€38k-

Trade debts44€1.23M€855k▼

Suppliers440/4€1.23M€855k▼

Taxes, remuneration and social security45€161k€163k▲

Taxes450/3€62k€46k▼

Remuneration and social security454/9€99k€117k▲

Other amounts payable47/48€342k€300k▼

Accrued charges and deferred income492/3€2k-

Income statement Code20232024

Non-recurring operating income76A€58k€14k▼

Remuneration, social security and pensions62€1.19M€1.23M▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€220k€370k▲

Other operating charges640/8€34k€49k▲

Non-recurring operating charges66A-€37k

Gross operating margin9900€1.81M€1.89M▲

Operating profit (loss)9901€363k€200k▼

Financial income75/76B€21k€35k▲

Recurring financial income75€21k€35k▲

Financial charges65/66B€58k€49k▼

Recurring financial charges65€58k€49k▼

Profit (loss) for the period before taxes9903€326k€186k▼

Income taxes67/77€24k€66k▲

Profit (loss) for the period9904€302k€120k▼

Profit (loss) for the period to be appropriated9905€302k€120k▼

Appropriation of the result

Profit (loss) to be appropriated9906€992k€912k▼

Profit (loss) brought forward from the previous period14P€690k€792k▲

Profit to be distributed694/7€200k€100k▼

Return on contributions (dividend)694€200k€100k▼

Social balance

Average headcount (FTE)908719.417.9▼

The notes to these accounts (21 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 13Financial 3Filings 10

2025

08-07

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

10-10

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema · 71 days late

2023

26-09

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema · 57 days late

2022

22-06

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

2021

31-12

Financial Highest result since 2018net €726k ▲174%

Operating result €1.04M, net result €726k, both a record.

31-12

Financial Equity above €1MEq €1.37M ▲64.7%

4 profitable years in a row build equity to €1.37M.

14-07

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2020

17-12

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema · 139 days late

2019

31-12

Financial Weakest financial yearnet €39k ▼48.4%

Net result drops to €39k, the lowest in the series; recovery starts the following year.

13-09

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema · 44 days late

2018

31-08

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema · 31 days late

2017

07-07

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

2016

30-06

NBB filing Annual accounts filed

fiscal year 2015 · abbreviated schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

12 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, Kruisem · 1 establishment unit since 1983

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Industriezone(KRU) 179770 Kruisem

Ground area

7,083 m²

Building footprint

4,882 m²

Volume, LiDAR

29,814 m³

Parcel 45017C0764/00F000, Flanders · tallest building 8.7 m, ±2 floors. Linked by address, not a title deed.

1 establishment unit

Industriezone(KRU) 17, 9770 Kruisem

NACE 1740201

since 19832.022.463.757

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
45017C0764/00F000	Flanders	7,083 m²	1 · 4,882 m²	8.7 m · 2 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1

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 · 5 entries · 38,113 EUR awarded · 38,113 EUR paid

Year	Entries	awarded	paid
2025	1	228 EUR	228 EUR
2023	2	30,872 EUR	30,872 EUR
2022	2	7,013 EUR	7,013 EUR

Schemes

Subsidies voor internationaal ondernemen

1 entry · 30,000 EUR · 30,000 EUR paid · Vlaams Agentschap voor Internationaal Ondernemen

Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)

3 entries · 5,450 EUR · 5,450 EUR paid · Fonds voor Innoveren en Ondernemen

Vlaams opleidingsverlof (VOV)

1 entry · 2,663 EUR · 2,663 EUR paid · Departement Werk en Sociale Economie

Similar companies · same sector, comparable size

Hamont-Achel · Eq €1.37M

Of 138 companies in sector 13960 we hold annual accounts for 84. 61 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Company data · Crossroads Bank

Identification

Legal formPublic limited company

Founded25-05-1983

Fiscal year end31-12

Activities, NACEBEL 2025

13930Manufacture of textiles

13960Manufacture of textiles

46160Agents in the wholesale of textiles, clothing, fur, footwear and leather goods

47512Retail sale of household textiles and bedding

Sources

Crossroads Bank for EnterprisesNational Bank · 41 filingsAddress and cadastre registers

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