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 51 % of short-term debt in 2025; threshold 65 %.
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Figures corrected NBB
Corrected annual account filed for 2023.
Financials
Financial year 2025
DELY WAFELS from Estaimpuis, company number BE0898051041, closed financial year 2025 with a result of € 1.2 million after tax. For that financial year DELY WAFELS recorded revenue of € 19.7 million and equity of € 3.2 million. Compared with financial year 2024, the result moved from € 972,175 to € 1.2 million. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on July 13, 2026.
€ 3.2 million
▲ 53% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.2 million
▲ 19% vs 2024
Profit after tax over the fiscal year.
€ 560,651
▼ 33% 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 € 231,526.
People and assets in 2025
56.2
▲ 6.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 3.4 million
▲ 14% vs 2024
€ 59,700 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.
€ 632,461
▼ 24% vs 2024
Of which on lease € 555,016.
Debts at end 2025
€ 11.7 million
▼ 11% vs 2024
€ 1.4 million is repaid this year. At this pace the long-term loan is gone in ≈ 8 years.
€ 3.2 million
▲ 12% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 89 days on average.
€ 458,647
▼ 16% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | - | - | € 17,163,203 | € 19,728,369 | ▲ 15% |
| Gross margin | € 1,329,385 | € 1,800,344 | - | - | |
| Profit after taxes | € -2,311,976 | € -1,940,789 | € 972,175 | € 1,154,016 | ▲ 19% |
| Equity | € 2,948,107 | € 641,025 | € 2,066,384 | € 3,152,836 | ▲ 53% |
| Total debts | € 15,633,697 | € 17,941,314 | € 16,624,363 | € 15,397,677 | ▼ 7% |
| Cash | € 429,590 | € 485,106 | € 836,844 | € 560,651 | ▼ 33% |
| Land & buildings | € 9,016,385 | € 8,500,400 | € 8,113,311 | € 8,577,693 | ▲ 6% |
| Retained profit | € 46,124 | € -1,894,665 | € -922,490 | € 231,526 | ▲ € 1.2 million |
| Bank debt | € 13,873,685 | € 14,436,602 | € 13,143,132 | € 11,669,167 | ▼ 11% |
| Balance sheet total | € 19,395,757 | € 19,347,939 | € 19,407,993 | € 19,219,406 | ▼ 1% |
| Employees (FTE) | 33 | 34 | 49.9 | 56.2 | ▲ 6.3 |
Key figures of DELY WAFELS, 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 DELY WAFELS?
What happened at DELY WAFELS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 1.2 million (▲ 19% vs 2024). Source: NBB ↗
- LA PAXYDE SRL became a director. NBB
- WAPINVEST SA became a director. NBB
- DAVID NAESSENS stepped down as director. NBB
- DAVID NAESSENS became a director. NBB
- OPMC SRL became a director. NBB
- SPARAXIS SA became a director. NBB
- DAVY VAN POUCKE became a director. NBB
In short
From € 2.3 million loss in 2022 to € 1.2 million profit in 2025.
Paid € 820 in corporate taxes since 2022.
Best year ever: 2025, with € 1.2 million profit.
On average € 53,000 of value added per employee in 2023.
Management
The stake of SOCARIS, MAC & JB comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
DELY WAFELSBehind DELY WAFELS are LA PAXYDE SRL, SPARAXIS SA, DAVY VAN POUCKE, ELLEN TOURNOIS, OPMC SRL and WAPINVEST SA. The shares are held by SOCARIS (16.5%) and MAC & JB (10%). It owns 99.9% of Dely Waffles India Private Limited and 0.7% of MH Panty Limited itself.
Directors
According to the 2025 annual accounts
Director · represented by Thibault Lacroix
since 2025
Director · represented by Isabelle Devos
Also active at: C.P. Bourg, A.M.B., Jean Goldschmidt International, Ateliers Pierre Cerfontaine, Floridienne, Fonderies J. Marichal Ketin et Cie, JUNGLING, MEBF +224 more
since 2020
DAVY VAN POUCKE
Director
since 2020
ELLEN TOURNOIS
Director
since 2020
Director · represented by Alain Daniëls
since 2023
Director · represented by David Naessens
Also active at: LABOTOUR, DIVERSIFICATION ET COMMUNICATION, Care4Water, ESCAUT INDUSTRIE, REMIND WALLONIA
since 2025
Director · represented by Marc Antoine Cajot
Also active at: DIGICLOUD COMMUNICATION, CIKISI
since 2020
DAVID NAESSENS
Director
since 2024 · until 2025
Participations
Dely Waffles India Private Limited
99.9%
MH Panty Limited
0.7%
Establishments
Establishment units
Physical locations of this company
Porte des Bâtisseurs(EST) 166
7730 Estaimpuis
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0898.051.041
- VAT number
- BE 0898.051.041
- Registered office
- Porte des Bâtisseurs(EST) 166, 7730 Estaimpuis
- Names & denominations
- DELY WAFELS
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 21 May 2008
- Peppol
- Active · Active since 20 Nov 2020
- Activities · NACE
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Handelsbemiddeling in de groothandel in voedings- en genotmiddelen