Active BE 0847.082.786Private limited company (pre-2019)Open bankruptcy

Yves DELFORGE & Co

Rue des Arts 50 ·1400 Nivelles, Belgium· 14 yrs active

Sector: Graphic design and visual communication (74120)

Conclusion Checked

A bankruptcy procedure is open for Yves DELFORGE & Co according to publications in the Belgian State Gazette. The 2024 annual accounts show negative equity (€-33k) and a net result of €-1k.

Based on the State Gazette, CBE and 5 annual accounts.

Key figures

Equity	€-33k
Net result	€-1k
Better than sector	5%
Active	14 yrs

Financial profile 5 of 5 axes measured · computed by Checked

23 / 100

Fragile profile, watch health in particular.

All 5 axes are computed from data Checked has read.

Health 0

Profitability 22

Solvency 33

Growth 58

Stability 0

Bankruptcy probability (12 mo) Checked model v1 · free

Bankruptcy opened

A bankruptcy procedure is already open, a probability score is no longer meaningful. See the insolvency timeline for the state of the procedure.

Risk Assessment rule-based

50 / 100

High riskRegister: open bankruptcy

This score counts publications in the Belgian State Gazette only. The KBO register additionally records legal situation 050 for this company; it does not feed the figure above.

Components

· Open bankruptcy (+50)

Trust signals 2 signals

Register: open bankruptcy

The KBO register records legal situation 050 for this company. This is today's state according to the register itself; the register carries no start date.

Open bankruptcy

Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2024 · computed

0 / 100 Critical

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

No credit

open bankruptcy

Score history

40 2020

7 2021

7 2022

15 2023

8 2024

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 0.26 (< 1.0) -10

Quick ratio Quick ratio 0.10 (< 0.6) -5

Equity Negative equity -25

Profitability ROE 4% +3

Interest coverage Interest coverage 1.4× (< 1.5×) -10

Profit trend Net profit up YoY +5

Bankruptcy Open bankruptcy -60

Computed by Checked from the NBB filing for FY 2024 and an insolvency signal from the Belgian State Gazette. Indicative, not credit advice.

Financial overview12 NBB filings

Annual accounts filed on 29-08-2025 with the NBB · fiscal year 2024 · full schema

Operating resultNet result

Sector comparison

Fiscal year 2024 · NACE 74, Other professional, scientific and technical activities · compared within the same schema type (full schema)

Metric	This company	Sector median	Position in the sector
Solvency	-170.1%	39.7%	better than 5% of 292 sector peers
Net result	€-1k	€17k	better than 30% of 291 sector peers
Equity	€-33k	€128k	better than 9% of 293 sector peers
Gross operating margin	€4k	€97k	better than 21% of 252 sector peers
Total assets	€20k	€609k	better than 5% of 292 sector peers

EBITDA

€4k

- 20-24

Net profit

€-1k

+84.1% 20-24

Cash flow

€862

- 20-24

Total assets

€20k

+19.9% 20-24

Equity

€-33k

-4.5% 20-24

Working capital

€-39k

-6.8% 20-24

Income taxes

€93

-29.3% 20-24

Debt

€53k

+9.7% 20-24

Debt ≤ 1y

€53k

+9.5% 20-24

Debt > 1y

€177

- 20-24

Current ratio

0.26

+7.5% 20-24

Quick ratio

0.10

+356.0% 20-24

Solvency

-170.1%

+12.8% 20-24

Debt / equity

-1.59

-5.0% 20-24

ROE

4.3%

-84.8% 20-24

ROA

-7.3%

+86.8% 20-24

Interest coverage

1.37

- 20-24

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2024	2023	2022	2021	2020
Deposit	full schema	full schema	full schema	full schema	full schema
Revenue	-	-	-	-	-
EBITDA	€4k	€-1k	€-11k	€-10k	€5k
Net profit	€-1k	€-9k	€-20k	€-16k	€-5k
Cash flow	€862	€-4k	€-14k	€-10k	€667
Staff costs	-	-	-	-	-
Income taxes	€93	€132	€120	€-1k	€109
Dividends	-	-	-	-	-
Total assets	€20k	€16k	€25k	€29k	€40k
Equity	€-33k	€-32k	€-23k	€-3k	€14k
Debt	€53k	€48k	€48k	€32k	€26k
of which ≤ 1y	€53k	€48k	€48k	€32k	€23k
of which > 1y	-	-	-	-	€177
Working capital	€-39k	€-36k	€-32k	€-17k	€-119
Employees (FTE)	-	-	-	-	-

Ratios (computed)

	2024	2023	2022	2021	2020
Current ratio	0.26	0.25	0.33	0.46	0.99
Quick ratio	0.10	0.02	0.08	0.19	0.66
Working capital ratio	-198.1%	-222.5%	-128.9%	-58.6%	-0.3%
Solvency	-170.1%	-195.2%	-92.3%	-8.9%	34.4%
Debt / equity	-1.59	-1.51	-2.08	-12.19	0.01
Long-term debt ratio	-	-	-	-	0.01
Interest coverage	1.37	-0.42	-4.42	-6.07	-
Gross margin	-	-	-	-	-
Net margin	-	-	-	-	-
ROA	-7.3%	-55.3%	-81.8%	-55.6%	-12.7%
ROE	4.3%	28.4%	88.5%	622.1%	-36.9%
EBITDA margin	-	-	-	-	-
Days sales outstanding	-	-	-	-	-
Days payable outstanding	-	-	-	-	-
Inventory turnover	-	-	-	-	-
Days inventory (DSI)	-	-	-	-	-

Balance-sheet composition 2024

Assets

Fixed assets €6k · 28.6% Current assets €14k · 71.4%

Full annual accounts (26 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024	2023	2022	2021	2020
Balance sheet, Assets
TOTAL ASSETS	20/58	€20k	€16k	€25k	€29k	€40k
Fixed assets	21/28	€6k	€4k	€9k	€15k	€17k
Intangible fixed assets	21	-	-	-	€254	€763
Tangible fixed assets	22/27	€6k	€4k	€9k	€14k	€17k
Financial fixed assets	28	€38	€38	€38	€38	€38
Current assets	29/58	€14k	€12k	€16k	€15k	€22k
Stocks & contracts in progress	3	€9k	€11k	€12k	€9k	€7k
Amounts receivable within one year	40/41	€2k	€599	€2k	€3k	€3k
Cash & bank	54/58	€4k	€468	€2k	€3k	€12k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€20k	€16k	€25k	€29k	€40k
Equity	10/15	€-33k	€-32k	€-23k	€-3k	€14k
Contributions / capital	10/11	€19k	€19k	€19k	€19k	€19k
Reserves	13	€158	€158	€158	€158	€158
Accumulated profits (losses)	14	€-52k	€-51k	€-42k	€-21k	€-5k
Amounts payable	17/49	€53k	€48k	€48k	€32k	€26k
Amounts payable after one year	17	-	-	-	-	€177
Amounts payable within one year	42/48	€53k	€48k	€48k	€32k	€23k
Trade debts payable within one year	44	€22k	€15k	€16k	€10k	€5k
Income statement
Gross operating margin	9900	€4k	€-1k	€-11k	€-10k	€5k
Operating result	9901	€1k	€-6k	€-18k	€-16k	€-781
Financial income	75	-	€5	-	-	-
Financial charges	65	€3k	€3k	€3k	€2k	€1k
Result before taxes	9903	€-1k	€-9k	€-20k	€-18k	€-2k
Income taxes	67/77	€93	€132	€120	€-1k	€109
Net result for the period	9904	€-1k	€-9k	€-20k	€-16k	€-2k
Result to be appropriated	9905	€-1k	€-9k	€-20k	€-16k	€-2k

Directors & mandates1 person

Role	Name	Tenure
Curator	LAURENCE ROOSEN AVENUE DES IRIS 101, 1341 CEROUX-MOUSTY ↔ Also on 60 other cases	04-12-2025 → present

Legal Structure

NACE primary	Graphic design and visual communication(74120)
Legal form	Private limited company (pre-2019)(015)
Incorporation	02-07-2012
Status	Active
Postal code	1400
First insolvency signal	10-12-2025
Latest insolvency signal	10-12-2025

Establishment units 1 location

Rue du Géant 6, 1400 Nivelles

Other printing

since 20122.210.496.277

Real-estate footprint Source: CBE × cadastre

Wallonia 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
25782D0593/00W000	Wallonia	1,704 m²	1 · 678 m²	19.8 m · 5 fl.
25072B0290/00C013	Wallonia	127 m²	1 · 159 m²	8.1 m · 2 fl.

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 11 events

All 12Signals 1Financial 1Filings 10

2025

10-12

Bankruptcy Opening

Tribunal de l’entreprise du Brabant wallon · YVES DELFORGE & CO SPRL RUE DES ARTS 50, 1400 NIVELLES · event 04-12-2025

29-08

NBB filing Annual accounts filed

fiscal year 2024 · full schema · 29 days late

2024

02-07

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

31-08

NBB filing Annual accounts filed

fiscal year 2022 · full schema · 31 days late

2022

31-12

Financial Weakest financial yearnet €-20k

Net result drops to €-20k, the lowest in the series; recovery starts the following year.

22-07

NBB filing Annual accounts filed

fiscal year 2021 · full schema

2021

27-08

NBB filing Annual accounts filed

fiscal year 2020 · full schema · 27 days late

2020

24-08

NBB filing Annual accounts filed

fiscal year 2019 · full schema · 24 days late

2019

28-08

NBB filing Annual accounts filed

fiscal year 2018 · full schema · 28 days late

2018

27-08

NBB filing Annual accounts filed

fiscal year 2017 · full schema · 27 days late

2017

28-08

NBB filing Annual accounts filed

fiscal year 2016 · full schema · 28 days late

2016

30-08

NBB filing Annual accounts filed

fiscal year 2015 · full schema · 30 days late

SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Lifecycle & Insolvency Signals1 events

10-12-2025

Bankruptcy Opening

Date: 04-12-2025 · Tribunal de l’entreprise du Brabant wallon · YVES DELFORGE & CO SPRL RUE DES ARTS 50, 1400 NIVELLES · Publications in State Gazette ↗

Time machine, BS events + macro context 2021, 2026

Macro context

2020-Q2/Q3 COVID lockdown

2022 energy crisis

2023-2024 ECB rate hikes

Legend

Bankruptcy

Interim / reorg

KBO event

Belgian State Gazette reading coverage 0 of 1 acts read

We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.

Credit advice verdict per customer and amount

No credit: a bankruptcy procedure is open.

Company registry (CBE) Crossroads Bank

Activities

Other professional, scientific and technical activities74103Graphic design and visual communication74120

Names & trade names

Legal nameFR

Yves DELFORGE & Co

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