DHL GLOBAL FORWARDING (BELGIUM)
ActiveSummary
DHL GLOBAL FORWARDING (BELGIUM) has been active since 1963 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €29.57M and a net result of €-3.57M. Equity is growing by ~43.2% per year across the filed fiscal years. Its solvency ranks better than 44% of 866 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
47
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability15▼-46
Solvency59▼-7
Growth47▼-19
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.35M at 30 days acceptable
Liquidity ample (current ratio 1.52 against 1.69 in 2024; short-term debt: 63.2% and cash: 28.5% of total assets), but 65.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 49
Relative position
BE, all sectors
reference
Sector 49
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
34.1%
Return on assets
-4.1%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-06-2026, 53 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
53 d early
2024
34 d early
2023
57 d early
2022
55 d early
2021
59 d early
2020
54 d early
2019
52 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€444.89M▼ 8.9%
2024 · €488.60M
2018: €408.65M
2019: €399.40M
2020: €442.84M
2021: €655.48M
2022: €829.95M
2023: €567.14M
2024: €488.60M
2018 → 2025
EBIT margin
-0.9%▼ 2.6pp
2024 · 1.7%
2018: -0.4%
2019: 0.5%
2020: 0.6%
2021: 1.5%
2022: 2.9%
2023: 1.8%
2024: 1.7%
2018 → 2025
Net result
€-3.57M
2024 · €6.81M
2018: €-1.92M
2019: €1.76M
2020: €2.11M
2021: €6.87M
2022: €17.83M
2023: €7.31M
2024: €6.81M
2018 → 2025
Working capital
€28.61M▼ 25.6%
2024 · €38.45M
2018: €1.91M
2019: €4.20M
2020: €6.62M
2021: €14.34M
2022: €30.63M
2023: €37.90M
2024: €38.45M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€655.48M-€829.95M▲ 26.6%€567.14M▼ 31.7%€488.60M▼ 13.8%€444.89M▼ 8.9%
Equity€14.99M-€32.82M▲ 119%€40.13M▲ 22.3%€39.94M▼ 0.5%€29.57M▼ 26.0%
Operating result€9.93M-€24.33M▲ 145%€10.46M▼ 57.0%€8.33M▼ 20.4%€-3.93M
Net result€6.87M-€17.83M▲ 160%€7.31M▼ 59.0%€6.81M▼ 6.9%€-3.57M
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €3.93M after €8.33M in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €86.71M
Fixed assets
€3.33M ▼ 11.3%
Current assets
€83.39M ▼ 11.3%
Equity and liabilities €86.71M
Equity
€29.57M ▼ 26.0%
Provisions
€2.36M ▲ 4.6%
Debt
€54.78M ▼ 1.5%
Debt's share of the balance-sheet total rises from 56.8% to 63.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-3.10M▼
2024 · €9.18M
Cash flow
€-2.73M▼
2024 · €7.66M
Current ratio
1.52▼
2024 · 1.69
Debt to equity
1.85▲
2024 · 1.39
ROE
-12.1%▼
2024 · 17.0%
ROA
-4.1%▼
2024 · 7.0%
Interest coverage
-468.36▼
2024 · 1373.37
Debt ≤ 1 year
€54.78M▼
2024 · €55.59M
Income taxes
€4k▼
2024 · €2.68M
Staff costs
€53.09M▲
2024 · €51.10M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 66 lines
Balance sheet
Code20242025
Assets
Total assets20/58€97.79M€86.71M▼
Fixed assets21/28€3.75M€3.33M▼
Tangible fixed assets22/27€3.75M€3.33M▼
Plant, machinery and equipment23€1.03M€1.08M▲
Furniture and vehicles24€1.84M€1.52M▼
Other tangible fixed assets26€875k€691k▼
Assets under construction and advance payments27-€41k
Current assets29/58€94.04M€83.39M▼
Amounts receivable within one year40/41€66.67M€54.89M▼
Trade receivables40€65.48M€54.04M▼
Other amounts receivable41€1.20M€842k▼
Cash at bank and in hand54/58€22.69M€24.74M▲
Deferred charges and accrued income490/1€4.68M€3.76M▼
Equity and liabilities
Total equity and liabilities10/49€97.79M€86.71M▼
Equity10/15€39.94M€29.57M▼
Contributions10/11€5.06M€5.06M=
Capital10€5.06M€5.06M=
Issued capital100€5.06M€5.06M=
Reserves13€1.12M€1.12M=
Non-distributable reserves130/1€1.04M€1.04M=
Legal reserve130€1.04M€1.04M=
Tax-exempt reserves132€86k€86k=
Profit (loss) carried forward14€33.76M€23.39M▼
Provisions and deferred taxes16€2.26M€2.36M▲
Provisions for liabilities and charges160/5€2.26M€2.36M▲
Pensions and similar obligations160€156k€248k▲
Other liabilities and charges164/5€2.11M€2.12M▲
Amounts payable17/49€55.59M€54.78M▼
Amounts payable within one year42/48€55.59M€54.78M▼
Trade debts44€41.73M€38.78M▼
Suppliers440/4€41.73M€38.78M▼
Taxes, remuneration and social security45€10.81M€12.83M▲
Taxes450/3€1.36M€2.11M▲
Remuneration and social security454/9€9.44M€10.71M▲
Other amounts payable47/48€3.06M€3.18M▲
Income statement
Code20242025
Operating income70/76A€499.74M€457.03M▼
Turnover70€488.60M€444.89M▼
Other operating income74€11.13M€12.14M▲
Non-recurring operating income76A€13k€3k▼
Operating charges60/66A€491.41M€460.97M▼
Services and other goods61€438.89M€406.38M▼
Remuneration, social security and pensions62€51.10M€53.09M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€853k€837k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-150k€-38k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€96k€103k▲
Other operating charges640/8€625k€595k▼
Operating profit (loss)9901€8.33M€-3.93M▼
Financial income75/76B€1.40M€1.82M▲
Recurring financial income75€1.40M€1.82M▲
Income from current assets751€1.20M€733k▼
Other financial income752/9€202k€1.09M▲
Financial charges65/66B€247k€1.46M▲
Recurring financial charges65€247k€1.46M▲
Debt charges650€7k€7k▼
Other financial charges652/9€240k€1.45M▲
Profit (loss) for the period before taxes9903€9.48M€-3.57M▼
Income taxes67/77€2.68M€4k▼
Taxes670/3€2.74M€27k▼
Tax adjustments and reversals of tax provisions77€63k€23k▼
Profit (loss) for the period9904€6.81M€-3.57M▼
Profit (loss) for the period to be appropriated9905€6.81M€-3.57M▼
Appropriation of the result
Profit (loss) to be appropriated9906€40.76M€30.19M▼
Profit (loss) brought forward from the previous period14P€33.95M€33.76M▼
Profit to be distributed694/7€7.00M€6.80M▼
Return on contributions (dividend)694€7.00M€6.80M▼
Social balance
Average headcount (FTE)9087603.7596.3▼
The notes to these accounts (58 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
06-08
State Gazette act
Reappointments: Luc Jacobs (director) and Karel Stassart (director)Appointments: Luc Jacobs (managing director) and Deloitte Bedrijfsrevisoren B.V. (statutory auditor)6 facts ▸
State Gazette act
Reappointments: Luc Jacobs (director) and Karel Stassart (director)
Appointments: Luc Jacobs (managing director) and Deloitte Bedrijfsrevisoren B.V. (statutory auditor)6 facts ▸
- General meeting, 28/05/2026
- Board meeting, 20/04/2026
- Director reappointment, Luc Jacobs (director)
- Director reappointment, Karel Stassart (director)
- Director appointment, Luc Jacobs (managing director)
- Auditor appointment, Deloitte Bedrijfsrevisoren B.V. (statutory auditor)
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €-3.57M ▼152%
Net result drops to €-3.57M, the lowest in the series.
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
04-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
06-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €17.83M ▲160%
Operating result €24.33M, net result €17.83M, both a record.
31-12
Financial
Equity above €25MEq €32.82M ▲119%
4 profitable years in a row build equity to €32.82M.
02-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €10MEq €14.99M ▲84.5%
3 profitable years in a row build equity to €14.99M.
07-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
09-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Show earlier events
2019
31-12
Financial
Back to profitnet €1.76M
Net result €1.76M after one loss-making year.
31-12
Financial
Equity above €5MEq €6.02M ▲41.3%
Equity rises from €4.26M to €6.02M.
06-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
05-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
26-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 directors, no change since 2026
Karel Stassart
CurrentDirector · since 28-05-2026
Luc Jacobs
CurrentDirector · since 20-04-2026
28-05-2026
Karel Stassart: Mandate renewed as Director
28-05-2026
Luc Jacobs: Mandate renewed as Director
20-04-2026
Luc Jacobs: Appointed as Managing director
Location & real-estate footprint
Registered office, Machelen (Brab.) · 7 establishment units since 1963
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Bedrijvenzone Machelen-Cargo 8301830 Machelen (Brab.)Ground area
19.4 ha
Building footprint
8.7 ha
Volume, LiDAR
666,950 m³
7 parcels, Flanders, Wallonia · tallest building 27.6 m, ±8 floors. Linked by address, not a title deed.
7 establishment units
DHL GLOBAL FORWARDING (Belgium) NV/SA
since 19632.004.787.486
DHL GLOBAL FORWARDING (Belgium) NV/SA
since 20042.143.881.033
DHL GLOBAL FORWARDING (Belgium) NV/SA
since 20042.143.881.429
DHL GLOBAL FORWARDING (Belgium) NV/SA
since 20072.167.642.568
DHL Global Forwarding (Belgium) NV/SA
since 20152.243.544.870
DHL Global Forwarding (Belgium) NV/SA
since 20162.259.838.989
Show 1 more locations
DHL GLOBAL FORWARDING (Belgium) NV/SA
since 20222.327.654.461
7 parcels
Flanders
6
(85.7%)
Wallonia
1
(14.3%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46010A0294/00V000 | Flanders | 7.4 ha | 1 · 3.3 ha | 12.7 m |
| 23015A0212/00F000 | Flanders | 4.9 ha | 1 · 2.4 ha | 20.7 m · 4 fl. |
| 62016B0333/00A000 | Wallonia | 3.0 ha | 1 · 6,299 m² | 16.4 m · 5 fl. |
| 23047A0539/00E006 | Flanders | 1.4 ha | 1 · 6,134 m² | 14.8 m · 3 fl. |
| 23047A0428/00P000 | Flanders | 1.3 ha | 1 · 1.2 ha | 14.4 m · 3 fl. |
| 23051A0086/00R000 | Flanders | 7,962 m² | 1 · 3,955 m² | 16.1 m · 3 fl. |
| 11810K2172/00D004 | Flanders | 5,401 m² | 1 · 2,130 m² | 27.6 m · 8 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 6
7 of 7 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Statutory auditor
1 auditor| B.V. Deloitte BedrijfsrevisorenCurrent Statutory auditor | 06-08-2026 → present |
Structure & network
Connections & network
2 connected companiesLinked via shared directors
via Luc Jacobs · Managing director
→
via Luc Jacobs · Director
former→
Public money · subsidies and aid
Flemish government
2022 to 2025 · 5 entries · 71,992 EUR awarded · 71,992 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 8,816 EUR | 8,816 EUR |
| 2024 | 1 | 20,851 EUR | 20,851 EUR |
| 2023 | 2 | 30,687 EUR | 30,687 EUR |
| 2022 | 1 | 11,638 EUR | 11,638 EUR |
Schemes
Vlaams opleidingsverlof (VOV)
European research
2 projects · 259,631 EUR EU contributionProgrammes
Seventh Framework Programme
Horizon 2020
Projects
INTERMODAL GLOBAL DOOR-TO-DOOR CONTAINER SUPPLY CHAIN VISIBILITY
Open network of hyper connected logistics clusters towards Physical Internet
Recognitions · licences · registrations
Food safety, FASFC
1 siteZAVENTEM2.004.787.486
Legal Entity Identifier
549300F1LQO7N60PC961
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Of 12,604 companies in sector 49410 we hold annual accounts for 8,202. 353 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded15-07-1963
Fiscal year end31-12
Activities, NACEBEL 2025
49410Freight transport by road
52249Warehousing and support activities for transportation
52241Warehousing and support activities for transportation
Sources
Crossroads Bank for EnterprisesNational Bank · 49 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.