Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
Financials
Financial year 2025
Etablissements François Cardona & Deltenre from Nivelles, company number BE0405621138, closed financial year 2025 with a result of € -257,712 after tax. For that financial year Etablissements François Cardona & Deltenre recorded revenue of € 18.4 million and equity of € 15.1 million. Compared with financial year 2024, the result moved from € -438,041 to € -257,712. The company made a loss. 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 30, 2026.
€ 15.1 million
▲ 153% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -257,712
▲ 41 % less loss than in 2024
Profit after tax over the fiscal year.
€ 678
▼ 13% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 10 million.
People and assets in 2025
171
▲ 55.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 10.3 million
▲ 63% vs 2024
€ 60,300 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.
€ 9.9 million
▲ 117% vs 2024
Of which on lease € 7.7 million.
Debts at end 2025
€ 7.5 million
▲ 96% vs 2024
€ 1.6 million is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 765,096
▲ 146% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 40 days on average.
€ 1.9 million
▲ 104% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 9,896,755 | € 10,734,730 | € 11,522,451 | € 18,372,435 | ▲ 59% |
| Profit after taxes | € -790,510 | € -754,333 | € -438,041 | € -257,712 | ▲ € 180,329 |
| Equity | € 813,409 | € 59,076 | € 5,957,909 | € 15,068,519 | ▲ 153% |
| Total debts | € 6,141,053 | € 6,553,584 | € 5,082,975 | € 10,196,574 | ▲ 101% |
| Cash | € 2,641 | € 2,097 | € 779 | € 678 | ▼ 13% |
| Land & buildings | € 100,461 | € 83,732 | € 73,197 | € 2,411,287 | ▲ € 2.3 million |
| Retained profit | € -1,751,591 | € -2,505,924 | € 957,909 | € 10,006,519 | ▲ € 9 million |
| Bank debt | € 3,038,113 | € 2,977,098 | € 3,830,312 | € 7,506,885 | ▲ 96% |
| Balance sheet total | € 6,954,463 | € 6,612,660 | € 11,040,884 | € 25,265,093 | ▲ 129% |
| Employees (FTE) | 105.2 | 114.5 | 115.5 | 171 | ▲ 55.5 |
Key figures of Etablissements François Cardona & Deltenre, 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 Etablissements François Cardona & Deltenre?
What happened at Etablissements François Cardona & Deltenre in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Philippe DOCX stepped down as director. NBB
- Pierre DENIS stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 257,712. Source: NBB ↗
- Alexandre WAUTHELET stepped down as director. NBB
- Pierre DENIS became a director. NBB
- Philippe DOCX became a director. NBB
- Alexandre WAUTHELET became a director. NBB
- New establishment in Braine-le-Comte. KBO
In short
From € 790,510 loss in 2022 to € 257,712 loss in 2025.
Paid € 2,972 in corporate taxes since 2022.
Pays suppliers within 40 days on average.
Management
The stake of Eurobus Holding comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Etablissements François Cardona & DeltenreThe shares are held by Eurobus Holding (100%).
Directors
According to the 2025 annual accounts
since 2023 · until 2026
Philippe DOCX
Director
Also active at: Cintra, ETABLISSEMENTS GEORGES LIENARD ET COMPAGNIE, SATRACOM, Société anomyme des autobus régionaux, Transports Penning, Les Voyages François Lenoir, EUROBUSSING WALLONIE, SOPHIBUS +1 more
since 2024 · until 2027
Pierre DENIS
Managing director
Also active at: Cintra, ETABLISSEMENTS GEORGES LIENARD ET COMPAGNIE, Garage du Perron, T.C.M. Cars, SATRACOM, Keolis Travel, Compagnie des Autobus liégeois, Van Rompaye +15 more
since 2024 · until 2027
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Rue du Travail 3A
1400 Nivelles
Rue du Travail 3 box A
1400 Nivelles
Active since 1 December 1946
Chemin du Pont 1
7090 Braine-le-Comte
Active since 1 October 2014
De Béjarlaan 5
1120 Brussel
Active since 1 January 2014
Avenue Eiffel 4
1300 Wavre
Active since 1 October 2014
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0405.621.138
- VAT number
- BE 0405.621.138
- Registered office
- Rue du Travail 3A, 1400 Nivelles
- Names & denominations
- Etablissements François Cardona & Deltenre
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 1 January 1968
- Peppol
- Active · Active since 29 Dec 2023
- Activities · NACE
Personenvervoer over de weg volgens dienstregeling
Overig personenvervoer volgens een dienstregeling
Stedelijk en voorstedelijk personenvervoer
Algemeen onderhoud en reparatie van auto's en lichte bestelwagens (<= 3,5 ton)
Detailhandel in auto's en lichte bestelwagens (<= 3,5 ton)
Detailhandel in motorvoertuigen
Onderhoud en reparatie van auto's
Detailhandel in auto's en lichte bestelwagens (= 3,5 ton)
+1