ACTIVE

DOLFIN

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Financial year 2025 · closed on 30/06/2025

Net result

257,8 k €

+15.5% YoY

Gross margin

2,9 M €

+6.9% YoY

Equity

3 M €

+6.2% YoY

Workforce

33,2 ETP

-0.6% YoY

What does DOLFIN do?

DOLFIN is a Public limited company incorporated in 1989. Its main activity is: Manufacture of cocoa, chocolate and sugar confectionery. Its registered office is in Nivelles. It employs on average 33,2 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0437.332.220

Incorporation

20/04/1989

Legal form

Public limited company

Registered office

Avenue Robert Schuman 172
1401 Nivelles · WallonieSee on map

Contributed capital

250 000,00 €

Latest accounts

30/06/2025

Average workforce

33,2 ETP

Activities (NACE)

10820Manufacture of cocoa, chocolate and sugar confectionery· main 10820Manufacture of cocoa, chocolate and sugar confectionery 15840Manufacture of leather and related products

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	2,9 M €	+6.9%	2,7 M €	+5.7%	2,6 M €	+10.2%	2,3 M €	+24.3%	1,9 M €	+5.6%	1,8 M €	-9.9%	2 M €	-3.8%	2 M €	+14.5%	1,8 M €	-6.6%	1,9 M €	+15.0%	1,7 M €	+8.5%	1,5 M €	+6.5%	1,4 M €	+22.7%	1,2 M €	+11.3%	1,1 M €	-8.6%	1,2 M €	-7.4%	1,2 M €	-12.2%	1,4 M €	+4.4%	1,4 M €
EBITDA	857,3 k €	+6.7%	803,1 k €	+14.5%	701,2 k €	+15.6%	606,7 k €	+6.5%	569,6 k €	+86.2%	306 k €	-41.7%	525 k €	-22.2%	674,7 k €	+32.2%	510,5 k €	-24.0%	671,4 k €	+17.3%	572,3 k €	+21.4%	471,2 k €	+14.5%	411,5 k €	+46.1%	281,6 k €	+15.3%	244,2 k €	+8.8%	224,5 k €	-40.4%	377 k €	-47.0%	711 k €	+2.7%	692,6 k €
Operating result	432,2 k €	+12.8%	383,1 k €	+26.5%	302,9 k €	+26.4%	239,7 k €	+78.4%	134,3 k €	+166%	-204,9 k €	-588%	42 k €	-83.6%	256,3 k €	-21.4%	326 k €	-39.9%	542,6 k €	+12.7%	481,3 k €	+30.6%	368,5 k €	+19.9%	307,4 k €	+101%	153,2 k €	+32.1%	116 k €	-44.0%	207,2 k €	+4.5%	198,3 k €	-68.9%	637,1 k €	+0.2%	635,5 k €
Net result	257,8 k €	+15.5%	223,2 k €	+3.9%	214,8 k €	-8.6%	235 k €	+78.0%	132 k €	+279%	-73,8 k €	-202%	-24,4 k €	-112%	203,8 k €	+4.1%	195,8 k €	-44.6%	353,4 k €	+17.0%	302,2 k €	+31.5%	229,8 k €	+21.2%	189,6 k €	+98.7%	95,5 k €	+92.4%	49,6 k €	-60.7%	126,2 k €	+2302%	5,3 k €	-98.8%	429,2 k €	+0.5%	427,2 k €
Balance sheet
Equity	3 M €	+6.2%	2,9 M €	+1.0%	2,8 M €	+7.6%	2,6 M €	+6.6%	2,5 M €	+0.9%	2,4 M €	+19.5%	2 M €	-1.2%	2,1 M €	+11.0%	1,9 M €	+3.7%	1,8 M €	+12.2%	1,6 M €	+8.3%	1,5 M €	+6.4%	1,4 M €	+6.3%	1,3 M €	+3.9%	1,3 M €	-1.0%	1,3 M €	+11.0%	1,1 M €	+0.5%	1,1 M €	+32.5%	858,5 k €
Total assets	8 M €	+10.4%	7,2 M €	-5.6%	7,6 M €	-1.8%	7,8 M €	+2.1%	7,6 M €	-0.4%	7,7 M €	-5.8%	8,1 M €	+10.2%	7,4 M €	+137%	3,1 M €	-2.2%	3,2 M €	+19.1%	2,7 M €	+6.5%	2,5 M €	+5.1%	2,4 M €	+4.4%	2,3 M €	-4.7%	2,4 M €	-1.1%	2,4 M €	-1.0%	2,5 M €	-14.2%	2,9 M €	+21.8%	2,3 M €
Cash	671,3 k €	+84.3%	364,3 k €	-39.9%	606,2 k €	+11.4%	544 k €	-5.6%	576,2 k €	-16.7%	691,8 k €	+33.6%	517,9 k €	-24.7%	687,5 k €	+168%	256,4 k €	-51.8%	531,3 k €	+217%	167,4 k €	+99.3%	84 k €	-51.8%	174,4 k €	-49.3%	344 k €	+3.4%	332,7 k €	+1.7%	327,1 k €	+49.5%	218,8 k €	-43.1%	384,3 k €	+105%	187,8 k €
Debts	4,9 M €	+13.2%	4,3 M €	-9.6%	4,8 M €	-6.7%	5,1 M €	+0.1%	5,1 M €	-1.1%	5,2 M €	-14.5%	6,1 M €	+15.0%	5,3 M €	+323%	1,3 M €	-8.1%	1,4 M €	+28.7%	1,1 M €	+4.5%	1 M €	+3.6%	976,6 k €	+1.1%	965,6 k €	-13.7%	1,1 M €	-2.1%	1,1 M €	-11.7%	1,3 M €	-22.5%	1,7 M €	+20.8%	1,4 M €
Other
Workforce	33,2 ETP	-0.6%	33,4 ETP	+3.7%	32,2 ETP	-6.7%	34,5 ETP	+5.2%	32,8 ETP	+6.1%	30,9 ETP	+2.3%	30,2 ETP	+17.1%	25,8 ETP	-2.6%	26,5 ETP	+8.6%	24,4 ETP	+8.9%	22,4 ETP	+4.2%	21,5 ETP	-0.5%	21,6 ETP	+9.1%	19,8 ETP	-2.0%	20,2 ETP	+6.9%	18,9 ETP	-20.6%	23,8 ETP	+16.1%	20,5 ETP	+5.7%	19,4 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2025 · 3 active · 23 ended

Active mandates

Bernard de Gruben

Director · since 08 novembre 2023 · until 14 novembre 2029

Active

GENERAL CHOCOLATES COMPANY

Managing director · since 08 novembre 2023 · until 14 novembre 2029 · 0879.274.118

Represented by Jean-Jacques de Gruben

Active

YA-K

Director · since 08 novembre 2023 · until 14 novembre 2029 · 0476.051.353

Represented by Gilles van der Meerschen

Active

Ended mandates

Bernard de Gruben

Director · since 08 novembre 2017 · until 08 novembre 2023

Ended

GENERAL CHOCOLATES COMPANY

Managing director · since 08 novembre 2017 · until 08 novembre 2023 · 0879.274.118

Represented by Jean-Jacques de Gruben

Ended

GENERAL CHOCOLATES COMPANY

Managing director · since 08 novembre 2017 · until 08 novembre 2023 · 0879.274.118

Represented by Jean-Jacques DE GRUBEN

Ended

YA-K

Director · since 08 novembre 2017 · until 08 novembre 2023 · 0476.051.353

Represented by Gilles VAN DER MEERSCHEN

Ended

At this address

Other companies at this address

Company	CBE no.
BRAINE PRINTING● Active	0437.677.163
GENERAL CHOCOLATES COMPANY● Active	0879.274.118

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	20/01/2026	31/01/2025	30/12/2023	26/01/2023	07/01/2022	29/01/2021
General meeting	12/11/2025	13/11/2024	08/11/2023	09/11/2022	10/11/2021	12/11/2020
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/06/2025	12/11/2025	20/01/2026	French	PDF
Abridged model	30/06/2024	13/11/2024	31/01/2025	French	PDF
Abridged model	30/06/2023	08/11/2023	30/12/2023	French	PDF
Abridged model	30/06/2022	09/11/2022	26/01/2023	French	PDF
Abridged model	30/06/2021	10/11/2021	07/01/2022	French	PDF
Abridged model	30/06/2020	12/11/2020	29/01/2021	French	PDF
Abridged model	30/06/2019	13/11/2019	23/01/2020	French	PDF
Abridged model	30/06/2018	14/11/2018	21/12/2018	French	PDF
Abridged model	30/06/2017	08/11/2017	29/12/2017	French	PDF
Abridged model	30/06/2016	09/11/2016	30/11/2016	French	PDF
Abridged model	30/06/2015	12/11/2015	01/12/2015	French	PDF
Abridged model	30/06/2014	12/11/2014	19/12/2014	French	PDF
Abridged model	30/06/2013	13/11/2013	06/12/2013	French	PDF
Abridged model	30/06/2012	14/11/2012	24/11/2012	French	PDF
Abridged model	30/06/2011	19/01/2012	15/02/2012	French	PDF
Abridged model	30/06/2010	10/11/2010	20/12/2010	French	PDF
Abridged model	30/06/2009	12/11/2009	24/12/2009	French	PDF
Abridged model	30/06/2008	12/11/2008	29/12/2008	French	PDF
Abridged model	30/06/2007	14/11/2007	14/01/2008	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 30/06/2025 · 3 active · 23 ended

Active mandates

Bernard de Gruben

Director · since 08 novembre 2023 · until 14 novembre 2029

Active

GENERAL CHOCOLATES COMPANY

Managing director · since 08 novembre 2023 · until 14 novembre 2029 · 0879.274.118

Represented by Jean-Jacques de Gruben

Active

YA-K

Director · since 08 novembre 2023 · until 14 novembre 2029 · 0476.051.353

Represented by Gilles van der Meerschen

Active

Ended mandates

Bernard de Gruben

Director · since 08 novembre 2017 · until 08 novembre 2023

Ended

GENERAL CHOCOLATES COMPANY

Managing director · since 08 novembre 2017 · until 08 novembre 2023 · 0879.274.118

Represented by Jean-Jacques de Gruben

Ended

GENERAL CHOCOLATES COMPANY

Managing director · since 08 novembre 2017 · until 08 novembre 2023 · 0879.274.118

Represented by Jean-Jacques DE GRUBEN

Ended

YA-K

Director · since 08 novembre 2017 · until 08 novembre 2023 · 0476.051.353

Represented by Gilles VAN DER MEERSCHEN

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates30/12/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates12/03/2019
DEMISSIONS, NOMINATIONS
PDF
Registered office20/09/2018
SIEGE SOCIAL
PDF
Mandates15/10/2012
DEMISSIONS, NOMINATIONS
PDF
Mandates06/11/2007
DEMISSIONS, NOMINATIONS
PDF
Mandates14/03/2006
DEMISSIONS, NOMINATIONS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025257,8 k €↑
2024
Annual accounts 2024223,2 k €↑
2023
Annual accounts 2023214,8 k €↓
2022
Annual accounts 2022235 k €↑
2021
Annual accounts 2021132 k €↑
2020
Annual accounts 2020-73,8 k €↓
2019
Annual accounts 2019-24,4 k €↓
2018
Annual accounts 2018203,8 k €↑
2017
Annual accounts 2017195,8 k €↓
2016
Annual accounts 2016353,4 k €↑
2015
Annual accounts 2015302,2 k €↑
2014
Annual accounts 2014229,8 k €↑
2013
Annual accounts 2013189,6 k €↑
2012
Annual accounts 201295,5 k €↑
2011
Annual accounts 201149,6 k €↓
2010
Annual accounts 2010126,2 k €↑
2009
Annual accounts 20095,3 k €↓
2008
Annual accounts 2008429,2 k €↑
2007
Annual accounts 2007427,2 k €
20/04/1989
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

DOLFIN

Overview

What does DOLFIN do?

Trend over 19 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline