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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Tight liquidity NBB
Cash and receivables cover 64 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 47.9 to 42.9.
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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
SA DELHEZ from Thimister-Clermont, company number BE0419795115, closed financial year 2025 with a result of € 30,596 after tax. For that financial year SA DELHEZ recorded revenue of € 9.2 million and equity of € 4.9 million. Compared with financial year 2024, the result moved from € -32,239 to € 30,596. Profitable, and profit is growing. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on March 30, 2026.
€ 4.9 million
▼ 1% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 30,596
▲ still € 32,239 loss in 2024
Profit after tax over the fiscal year.
€ 730,623
▲ 35% 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 € 3.4 million.
People and assets in 2025
42.9
▼ 2.7 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 2.8 million
▼ 1% vs 2024
€ 65,000 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.
€ 1.5 million
▼ 24% vs 2024
Of which on lease € 1.2 million.
Debts at end 2025
€ 4.5 million
▼ 19% vs 2024
€ 1 million is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 392,450
▼ 63% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 31 days on average.
€ 418,252
▼ 10% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | - | € 9,683,439 | € 9,066,643 | € 9,238,318 | ▲ 2% |
| Gross margin | € 5,989,953 | - | - | - | |
| Profit after taxes | € 1,406,882 | € 741,199 | € -32,239 | € 30,596 | ▲ € 62,835 |
| Equity | € 4,092,589 | € 5,048,632 | € 4,957,448 | € 4,895,846 | ▼ 1% |
| Total debts | € 10,093,741 | € 7,347,422 | € 7,918,282 | € 5,770,972 | ▼ 27% |
| Cash | € 1,275,001 | € 621,902 | € 541,572 | € 730,623 | ▲ 35% |
| Land & buildings | € 4,665,725 | € 4,517,282 | € 4,126,859 | € 3,782,856 | ▼ 8% |
| Retained profit | € 2,462,733 | € 3,255,588 | € 3,275,006 | € 3,357,258 | ▲ 3% |
| Dividend | € 1,479,500 | € 0 | € 0 | € 0 | |
| Bank debt | € 5,993,267 | € 5,571,559 | € 5,543,216 | € 4,502,860 | ▼ 19% |
| Balance sheet total | € 14,257,762 | € 12,430,189 | € 12,875,730 | € 10,666,818 | ▼ 17% |
| Employees (FTE) | 48.3 | 47.9 | 45.6 | 42.9 | ▼ 2.7 |
Key figures of SA DELHEZ, 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 SA DELHEZ?
What happened at SA DELHEZ in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- SHIFT GEAR SRL stepped down as director. NBB
- SOMATAM SRL stepped down as director. NBB
- Marc Delhez stepped down as director. NBB
- MGMT SRL stepped down as director. NBB
- Aveho SRL stepped down as director. NBB
- Delhez Holding SA stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 30,596. Source: NBB ↗
- SHIFT GEAR SRL became a director. NBB
In short
From € 1.4 million profit in 2022 to € 30,596 profit in 2025.
Paid € 351,997 in corporate taxes since 2022.
Best year ever: 2022, with € 1.4 million profit.
On average € 124,000 of value added per employee in 2022.
Management
The stake of DELHEZ HOLDING comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
SA DELHEZThe shares are held by DELHEZ HOLDING (99.9%).
Directors
According to the 2025 annual accounts
Director · represented by Benoit Scheen
Also active at: CE+T TELECOMMUNICATIONS, MOKMA, NEXXCOM, BE IP
since 2024 · until 2030
Managing director · represented by Stephan Delhez
since 2022 · until 2028
Managing director · represented by Christophe Delhez
Also active at: SOCIETE ANONYME DE TRAITEMENTS TEXTILES, TRAITEX INTERNATIONAL, EUROWOOL S.A.
since 2022 · until 2028
since 2023 · until 2028
Director · represented by Stephan Delhez
since 2022 · until 2028
Director · represented by Frédéric Taminiaux
Also active at: IMETAM, THE KITCHEN COMPANY
since 2024 · until 2030
Shareholders
99.9%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Rue Grondal 8
4890 Thimister-Clermont
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0419.795.115
- VAT number
- BE 0419.795.115
- Registered office
- Rue Grondal 8, 4890 Thimister-Clermont
- Names & denominations
- SA DELHEZ
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 1 October 1979
- Peppol
- Not registered
- Activities · NACE
Vervaardiging van metalen constructiewerken en delen daarvan
Vervaardiging van metalen constructiewerken en onderdelen daarvan
Sanitaire werkzaamheden
Overig loodgieterswerk
Dakwerkzaamheden
Detailhandel in ijzerwaren, bouwmaterialen, verf en glas (algemeen assortiment)
Detailhandel in ijzerwaren, verf, bouwmaterialen (inclusief doe-het-zelfzaken) met een verkoopsoppervlakte van minder dan 400 m2
Dakbedekking en bouw van dakconstructies