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BOYD Nivelles

Active
Public limited companyfounded 196858 yrs activeRue du Commerce 14, 1400 Nivelles, BelgiumKBO/BCE: BE 0403.066.771
Summary

BOYD Nivelles has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.8m and a net result of €2.2m. Equity is growing by ~11.6% per year across the filed fiscal years. Its solvency ranks better than 63% of 210 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).

Risk analysisWatch ReportCompare
BOYD NivellesActiveChecked score 97/100
Risk analysis ReportCompare

Overview

Activity
Manufacture of rubber and plastic products
NACE 22120NACE 22190Manufacture of other non-metallic mineral products NACE 23120
1 site
Size
€13.9mturnover 2025
Staff
40 FTE
Equity
€5.8m
Profit
€2.2m
Financial health
97 Excellent Checked score 2025
Bankruptcy chance 12 m
< 0.1%
Structure
Parent
MASSIN · 100%
Holdings
1
Accounts 51 d early1 of 15 deeds read
Why 97+ Liquidity: current ratio 2.04, cash €2.4m+ Founded in 1968+ Equity €5.8m (63.1% of total assets)+ Profit of €2.2m (FY 2025)Show the evidence

Checked score

Score 2025
97 / 100
Excellent
Probability in this band: under 0.55%
Better than 74% of its sector peers (NACE 22, small)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Strong
Solvency 88+5
equity 63.1% of total assets
Liquidity 66+17
short-term debt 35.6% · cash 25.5%
Profitability 99+5
return on assets 24.0%
Bankruptcy probability, 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (162 companies)
Last 24 months 11-2024: 0.1%highest value 12-2024: 0.1%● 0.0% vs 11-2024highest value 01-2025: 0.1%● 0.0% vs 12-2024highest value 02-2025: 0.1%▼ -3.7% vs 01-2025 03-2025: 0.1%▼ -1.3% vs 02-2025 04-2025: 0.1%▼ -3.9% vs 03-2025 05-2025: 0.1%▲ +4.1% vs 04-2025 06-2025: < 0.1%▼ -36.4% vs 05-2025 07-2025: < 0.1%● 0.0% vs 06-2025 08-2025: < 0.1%● 0.0% vs 07-2025 09-2025: < 0.1%● 0.0% vs 08-2025 10-2025: < 0.1%● 0.0% vs 09-2025 11-2025: < 0.1%● 0.0% vs 10-2025 12-2025: < 0.1%● 0.0% vs 11-2025 01-2026: < 0.1%● 0.0% vs 12-2025 02-2026: < 0.1%▼ -2.0% vs 01-2026 03-2026: < 0.1%● 0.0% vs 02-2026 04-2026: < 0.1%▼ -2.1% vs 03-2026 05-2026: < 0.1%▲ +2.1% vs 04-2026 06-2026: < 0.1%▼ -2.1% vs 05-2026 07-2026: < 0.1%▼ -23.4% vs 06-2026lowest value 08-2026: < 0.1%● 0.0% vs 07-2026lowest value 09-2026: < 0.1%● 0.0% vs 08-2026lowest value 10-2026: < 0.1%● 0.0% vs 09-2026lowest value
  • Liquidity: current ratio 2.04, cash €2.4m lowers the probability
  • Founded in 1968 lowers the probability for this profile
  • Equity €5.8m (63.1% of total assets) lowers the probability
  • Profit of €2.2m (FY 2025) lowers the probability
Credit up to €550,000 at 30 days acceptable
Liquidity ample (current ratio 2.04 against 1.83 in 2024; short-term debt: 35.6% and cash: 25.5% of total assets), and 36.9% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 22, small). Better than this share of them on solvency 67%, liquidity 83%, profitability 96%, growth against the median 49%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 02-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Liquidity: current ratio 2.04, cash €2.4m
In the bankruptcy model this factor lowers the probability.
NBB · annual accounts
lowers risk · Founded in 1968
In the bankruptcy model this factor lowers the probability for this profile.
KBO
lowers risk · Equity €5.8m (63.1% of total assets)
In the bankruptcy model this factor lowers the probability.
NBB · annual accounts
lowers risk · Profit of €2.2m (FY 2025)
In the bankruptcy model this factor lowers the probability.
NBB · annual accounts
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 10-06-2026, 51 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
51 d early
2024
72 d early
2023
34 d early
2022
282 d late
2021
16 d late
2020
67 d early
2019
81 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 22 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 34% of the sector filed late.

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. Usually files around 28 June (4 of the last 5 filed years within 49 days of that day).
Companies Code · seven months
Position in the running window
03-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · full…
  2. Resignation: Johannes Ruijgrok (director)State Gazette act
  3. Highest result since 2018net €2.2m ▲20.2%

Key points

  • Positive: Among the best 19% on net resultsector median €160,612 · 210 companies €2.2m View
  • Positive: 8 profitable years in a rowprofit 2025: €2.2m 8 years View
  • Controlled by MASSINultimately: Grando-Massin Holding 100% View
  • A director leftlatest change 01-03-2026 · 0 in office 1 left View
  • Active since 1968founded 01-01-1968 58 years View

By topic

Financials

Fiscal year
2025
Turnover
€13.9m
Profit
€2.2m
Solvency
63.1%
Turnover▲ 1.8%
Net result
20212025
Go to Financials

Timeline

Events
14
Since
2017
Next accounts
by 31-07-2027
  1. 10-06-2026Annual accounts filed
  2. 27-03-2026Resignation: Johannes Ruijgrok (director)
  3. 31-12-2025Highest result since 2018
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Manufacture of rubber and plastic productsNACE 22120
Founded
01-01-1968
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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