Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 2 of the last 4 fiscal years.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
Financials
Financial year 2025
Delvaux Design Coordination et Finance from Etterbeek, company number BE0448178305, closed financial year 2025 with a result of € -1.9 million after tax. Compared with financial year 2024, the result moved from € -39.9 million to € -1.9 million. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on October 8, 2025.
€ -34.1 million
▼ € 1.9 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -1.9 million
▲ 95 % less loss than in 2024
Profit after tax over the fiscal year.
€ 131,614
▼ 95% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -79.4 million.
People and assets in 2025
64.9
▲ 0.4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 8.5 million
▼ 3% vs 2024
€ 131,100 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.
Debts at end 2025
€ 104.2 million
Loans from banks and other lenders, long and short.
€ 619,754
▲ 65% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 88 days on average.
€ 1.6 million
▼ 31% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Profit after taxes | € -1,512,286 | € -26,096,197 | € -39,875,542 | € -1,881,761 | ▲ € 38 million |
| Equity | € 4,025,260 | € 7,668,543 | € -32,206,999 | € -34,088,760 | ▼ € 1.9 million |
| Total debts | € 96,373,698 | € 106,976,210 | € 110,490,833 | € 107,430,422 | ▼ 3% |
| Cash | € 2,380,906 | € 24,243,190 | € 2,557,793 | € 131,614 | ▼ 95% |
| Retained profit | € -11,539,055 | € -37,635,252 | € -77,510,795 | € -79,392,556 | ▼ € 1.9 million |
| Bank debt | € 88,269,552 | € 100,611,442 | € 104,234,081 | € 104,234,081 | |
| Balance sheet total | € 100,938,938 | € 114,694,754 | € 78,283,834 | € 73,341,662 | ▼ 6% |
| Employees (FTE) | 52.8 | 56.6 | 64.5 | 64.9 | ▲ 0.4 |
Key figures of Delvaux Design Coordination et Finance, 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 October 2026.
What happened to Delvaux Design Coordination et Finance?
What happened at Delvaux Design Coordination et Finance in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Thomas Loest stepped down as director. NBB
- Jean-Marc Loubier stepped down as director. NBB
- Grégoire Bedoret stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 1.9 million. Source: NBB ↗
- Thomas Loest became a director. NBB
- Jean-Marc Loubier became a director. NBB
- Grégoire Bedoret became a director. NBB
- New establishment in Etterbeek. KBO
In short
From € 1.5 million loss in 2022 to € 1.9 million loss in 2025.
Paid € 18,183 in corporate taxes since 2022.
Pays suppliers within 88 days on average.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The shares are held by DLX Holdings (100%), Maroquinerie Delvaux Belgium (0%) and Delvaux Créateur (0%). It owns 100% of Delvaux Honk Kong Limited, 100% of DELVAUX CREATEUR, 100% of DELVAUX C.D.L., 99.9% of MAROQUINERIE DELVAUX BELGIUM, 50% of MDA SAS and 33.5% of MAROQUINERIE DE BOURG ARGENTAL itself.
Directors
According to the 2025 annual accounts
Thomas Loest
Director
Also active at: DELVAUX CREATEUR, MAROQUINERIE DELVAUX BELGIUM, DELVAUX - LA COMPAGNIE DES LINGES, IMMODEL, DLX Holdings
since 2023 · until 2029
Jean-Marc Loubier
Director
since 2023 · until 2029
Grégoire Bedoret
Director
since 2023 · until 2029
Shareholders
Participations
Delvaux Honk Kong Limited
100%
100%
100%
MDA SAS
50%
MAROQUINERIE DE BOURG ARGENTAL
33.5%
12.5%
Establishments
Establishment units
Physical locations of this company
Louis Schmidtlaan 7
1040 Etterbeek
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 9 companies are registered at this address.
All companies at this address →DELVAUX CREATEUR same network
€ 98.9 million revenue · 2025
MAROQUINERIE DELVAUX BELGIUM same network
€ 2.3 million revenue · 2025
DELVAUX RETAIL same network
Beroepskamer van de Fabrikanten van Marokijnwerk, Zadelmakerij en Reisartikelen
ANCIEN COMPTOIR DE TEXTILE ET D'AMEUBLEMENT
+4 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Self-hosted
Hosting
COMBELL-AS, BE
Domain
Domain
delvaux.com
Registered
1998-12-28
Registrar
Nom-iq Ltd. dba COM LAUDE
Expires
2026-12-28
Website info
Features
Security
Details
- Company number
- 0448.178.305
- VAT number
- BE 0448.178.305
- Registered office
- Louis Schmidtlaan 7, 1040 Etterbeek
- Names & denominations
- Delvaux Design Coordination et Finance · D.D.C.F Delvaux D.C.F.
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 4 September 1992
- Peppol
- Active · Active since 19 Dec 2025
- Contact
- delvaux.com
- Activities · NACE
Vervaardiging van koffers, tassen, zadel- en tuigmakerswerk van ongeacht welk materiaal
Activiteiten van holdings
Managementactiviteiten van holdings
Holdings