Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2025 and 2026.
Financials
Financial year 2026
Delvaux Design Coordination et Finance from Etterbeek, company number BE0448178305, closed financial year 2026 with a result of € -26.1 million after tax. Compared with financial year 2025, the result moved from € -1.9 million to € -26.1 million. 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 October 15, 2026.
€ 40.4 million
▲ € 74.5 million vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -26.1 million
▼ 1287 % more loss than in 2025
Profit after tax over the fiscal year.
€ 1.1 million
▲ € 921,289 vs 2025
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -105.5 million.
People and assets in 2026
63.7
▼ 1.2 vs 2025
Average over the fiscal year, from the social balance sheet.
€ 8.6 million
▲ 1% vs 2025
€ 134,200 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 2026
€ 442
▼ € 104.2 million vs 2025
Loans from banks and other lenders, long and short.
€ 827,721
▲ 34% vs 2025
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 121 days on average.
€ 2 million
▲ 29% vs 2025
Taxes, VAT and social contributions still to pay.
| 2023 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Profit after taxes | € -26,096,197 | € -39,875,542 | € -1,881,761 | € -26,097,097 | ▼ € 24.2 million |
| Equity | € 7,668,543 | € -32,206,999 | € -34,088,760 | € 40,425,143 | ▲ € 74.5 million |
| Total debts | € 106,976,210 | € 110,490,833 | € 107,430,422 | € 6,356,689 | ▼ 94% |
| Cash | € 24,243,190 | € 2,557,793 | € 131,614 | € 1,052,903 | ▲ € 921,289 |
| Retained profit | € -37,635,252 | € -77,510,795 | € -79,392,556 | € -105,489,653 | ▼ € 26.1 million |
| Bank debt | € 100,611,442 | € 104,234,081 | € 104,234,081 | € 442 | ▼ € 104.2 million |
| Balance sheet total | € 114,694,754 | € 78,283,834 | € 73,341,662 | € 46,781,832 | ▼ 36% |
| Employees (FTE) | 56.6 | 64.5 | 64.9 | 63.7 | ▼ 1.2 |
Key figures of Delvaux Design Coordination et Finance, fiscal years 2023 to 2026, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2027) expected before 31 October 2027.
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:
- Karine Willame stepped down as director. NBB
- Jean-Marc Loubier stepped down as director. NBB
- Axel Meyer stepped down as director. NBB
- New annual accounts for financial year 2026: loss of € 26.1 million. Source: NBB ↗
- Karine Willame became a director. NBB
- Grégoire Bedoret stepped down as director. NBB
- Thomas Loest stepped down as director. NBB
- Axel Meyer became a director. NBB
In short
From € 26.1 million loss in 2023 to € 26.1 million loss in 2026.
Paid € 230,238 in corporate taxes since 2023.
Pays suppliers within 121 days on average.
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 Retail , 99.9% of MAROQUINERIE DELVAUX BELGIUM, 50% of MDA SAS and 33.5% of MAROQUINERIE DE BOURG ARGENTAL itself.
Directors
According to the 2026 annual accounts
Karine Willame
Director
Also active at: DELVAUX CREATEUR, MAROQUINERIE DELVAUX BELGIUM, DELVAUX RETAIL, IMMODEL, DLX Holdings
since 2026 · until 2029
Thomas Loest
Director
Also active at: DELVAUX CREATEUR, MAROQUINERIE DELVAUX BELGIUM, DELVAUX - LA COMPAGNIE DES LINGES, IMMODEL, DLX Holdings
since 2023 · until 2025
Jean-Marc Loubier
Director
since 2023 · until 2029
Grégoire Bedoret
Director
since 2023 · until 2026
since 2025 · 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
€ 40.7 million revenue · 2026
MAROQUINERIE DELVAUX BELGIUM same network
€ 2.3 million revenue · 2026
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