Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 2.4 to 1.3.
Financials
Financial year 2025
Delbaere & De Pau from Zulte, company number BE0405596293, closed financial year 2025 with a result of € 225,156 after tax. For that financial year Delbaere & De Pau recorded a gross margin of € 416,070 and equity of € 1.4 million. Compared with financial year 2024, the result moved from € 203,946 to € 225,156. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 29, 2026.
€ 1.4 million
▲ 20% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 225,156
▲ 10% vs 2024
Profit after tax over the fiscal year.
€ 409,555
▲ 2% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 1.3 million.
People and assets in 2025
1.3
▼ 0.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 22,936
▼ 46% vs 2024
€ 17,600 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 18,583
▼ 75% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 3,326
▲ 15% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 82,870
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 471,562 | € 378,818 | € 394,667 | € 416,070 | ▲ 5% |
| Profit after taxes | € 228,069 | € 150,698 | € 203,946 | € 225,156 | ▲ 10% |
| Equity | € 802,017 | € 952,715 | € 1,124,850 | € 1,350,006 | ▲ 20% |
| Total debts | € 1,057,549 | € 465,914 | € 434,290 | € 384,817 | ▼ 11% |
| Cash | € 955,388 | € 693,574 | € 400,690 | € 409,555 | ▲ 2% |
| Retained profit | € 702,017 | € 852,715 | € 1,024,850 | € 1,250,006 | ▲ 22% |
| Dividend | € 0 | € 0 | € 31,811 | € 0 | ▼ 100% |
| Bank debt | € 576,186 | € 0 | € 0 | € 0 | |
| Balance sheet total | € 1,859,566 | € 1,418,629 | € 1,559,140 | € 1,734,822 | ▲ 11% |
| Employees (FTE) | 2.4 | 2.4 | 1.6 | 1.3 | ▼ 0.3 |
Key figures of Delbaere & De Pau, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Delbaere & De Pau?
What happened at Delbaere & De Pau in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Carine De Pau stepped down as director. NBB
- Eddy De Pau stepped down as director. NBB
- Freddy De Pau stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 225,156 (▲ 10% vs 2024). Source: NBB ↗
- Carine De Pau became a director. NBB
- Eddy De Pau became a director. NBB
- Freddy De Pau became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 228,069 profit in 2022 to € 225,156 profit in 2025.
Paid € 334,876 in corporate taxes since 2022.
Best year ever: 2022, with € 228,069 profit.
On average € 320,100 of value added per employee in 2025.
Management
Directors
According to the 2025 annual accounts
Carine De Pau
Director
since 2025 · until 2031
Eddy De Pau
Managing director
since 2025 · until 2031
Freddy De Pau
Managing director
since 2025 · until 2031
Establishments
Establishment units
Physical locations of this company
Petegemstraat 81
9870 Zulte
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0405.596.293
- VAT number
- BE 0405.596.293
- Registered office
- Petegemstraat 81, 9870 Zulte
- Names & denominations
- Delbaere & De Pau
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 1 January 1968
- Peppol
- Active · Active since 21 Oct 2026
- Activities · NACE
Groothandel in hout