Equity
€1.28bn ▲ 1.3%
Nirmana Retail has made a profit without a break since 2012.
Nirmana Retail
Lifetime
17 annual accounts with figures on one time axis, 49 filings since 1977peak €290.5m (2026)
€290.5m▲ 6.8%
lowest -€1.8m (2011)
€17.2m▼ 65.7%
peak €1.28bn (2026)
€1.28bn▲ 1.3%
€518.4m▲ 0.4%
peak 31.8 FTE (2020)
26.8 FTE▲ 2.3%
Board16 names since 2003all names
5 directorsJef Colruyt and 4 others
Owners5 names in the annual accounts
99.97%Colruyt Group and 1 other
Documentsfilings and deeds
30-09-202631 days before the deadline
2026financial year
Result from €50.2m to €17.2mDemerger: COLIM splits off to NIRMANA 09-11Demerger: COLIM splits off to NIRMANA 09-11Demerger: COLIM splits off to Nirmana Offices 09-11Demerger: COLIM splits off to NIRMANA OFFICES 09-11Cash from €374 to €3.0m
Key points
from the 2026 annual accountsResult
€17.2m ▼ 65.7%
The result fell in 2026: merger with DELDEN.
Payment terms
94 days to suppliers
Nirmana Retail pays its suppliers 34 days earlier than in 2025. Customers pay 4 days later.
Filings
49 annual accounts since 1977
The 2019 accounts came 26 days late. The other nine of the last ten were filed on time.
At the same address
74 companies
Restructuring
10
10 restructurings since 2024. Latest: branch transferred to Bavingsveld.
Checked score
91
Excellent
Financially stronger than 70% of small companies in wholesale trade (NACE 46)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 4,374 companies (NACE 46, small).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025lowest value
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025
08-2025: 0.2%● unchanged vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: 0.2%● unchanged vs 07-2026
09-2026: 0.2%● unchanged vs 08-2026highest value
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Liquidity: current ratio 0.50, cash €3.0m
lowers risk
Founded in 1960
Size: turnover €290.5m, 26.8 FTE, total assets €1.81bn
Equity €1.28bn (70.6% of total assets)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, small). It does better than 80% of them on solvency, 62% on liquidity, 81% on profitability and 55% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-03-2026.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 14,766 companies had the same profile as Nirmana Retail has now. Each dot stands for 37 companies, two years later.
96.2%
were still trading
3.5%
stopped another way
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Nirmana Retail itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 14,766 companies, not a prediction for Nirmana Retail. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €29,050,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.5 (0.54 in 2025), below 1. Short-term debt is 7.7% and cash 0.2% of total assets. 29.4% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 30-09-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
31 days early
2025
38 days early
2024
14 days early
2023
36 days early
2022
25 days early
2021
38 days early
2020
36 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 31 days before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today. The company usually files around 30 September (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-03-2027 year end31-10-2027 deadline
Board and ownership
- Nirmana 100%deed of 09-11-2026
- Colruyt Group 99.97%score 93equity €6.32bn (2026) · annual accounts 31-03-2026
- Colruyt Group NV consolidatesannual accounts 31-03-2026
Shares in 17 companies, including Avellana and BANDEN DEPROOST
Board & ownershipRecent changes
Demerger: COLIM splits off to Nirmana Offices
Company renamed from COLIM to Nirmana Retail · Capital from €1,281,292,419.40 to €1,213,587,450.74 · Capital from €1,213,587,450.74 to €914,889,353.28 · General meeting of 01-10-2026 · Gazette deed
Resignation: Stefaan Vandamme (director)
Appointment: Michael Hamelryck (director) · General meeting of 15-09-2026 · Gazette deed
Environmental permit granted
Nieuwbouw van bijgebouwen, niet-overdekte lage constructies en andere handelingen · Izegem
Capital decrease of €803,542.90 to €914,362,584.80
Capital from €915,166,127.70 to €914,362,584.80 · Resignation: Stefaan Vandamme (director) · Appointment: Michael Hamelryck (director) · General meeting of 21-08-2026 · Gazette deed
Comparable companies
same main activity, the nearest in size| Company | ||||
|---|---|---|---|---|
| Nirmana Retail Halle | €290.5m | 40.3% | 70.6% | 26.8 |
| EUROPEAN OWENS CORNING FIBERGLAS Watermael-Boitsfort | €372.7m | 4.2% | 43.3% | 34.8 |
Grey: the largest companies of the sector (wholesale trade (NACE 46)), without their names. Blue: the sector peers from the table.
This company has the same main activity as Nirmana Retail: agents specialised in the wholesale of other particular products (NACE 46180). It is smaller than Nirmana Retail: total assets of €674m, founded in 1984.
Official details
Source: KBO- Status
- Active since 17-10-1960Normal situation
- Registered office
- 75 active companies are registered at this address13 started in the 12 months before. Source: KBO register, as of 11 November 2026.
- Activity
- Agents specialised in the wholesale of other particular productsNACE 46180and 1 other
- Joint committee
- 323Building management, estate agents and domestic staff · annual accounts 31-03-2026
- Establishment units
- 2.009.217.9131500 Halle, since 17-10-1960
- 2.319.374.9187866 Lessines, since 01-01-2022
- Financial year end
- 31 March
- Peppol
- Reachable since 09-10-2023
Annual accounts to 31-03-2026
- €1.81bn▲ 1.2%
- Employeeson 31-03-2026
- 27▼ 6.9%
- Filing
- Filed on 30-09-2026, 31 days before the end of the filing period
Companies linked to Nirmana Retail
Parent and group
Shareholders
- BIO-PLANET0.03%
Subsidiaries and holdings
- DISFRAIS100%
- EW 738/740100%
- GERLI Erasmus100%
- Holding De Prins100%
- Izock100%
- Supermarkt De Belie100%
- TERDECO100%
- USIMEX - INVEST100%
Insights on Nirmana Retail
Nirmana Retail has existed since 1960. In 2012 turnover rose from €23.5m to €74.2m. On 1 December 2010 Nirmana Retail received a branch of activity from BIO-PLANET.
Turnover has grown every year since 2023.
Nirmana holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Nirmana Retail
- What is the company number of Nirmana Retail?
- The company number of Nirmana Retail is 0400.374.725. The VAT number is the same number with BE in front: BE 0400.374.725.
- Where is Nirmana Retail based?
- The registered office is at Edingensesteenweg 196, 1500 Halle.Company details
- What does Nirmana Retail do?
- According to the KBO register, the main activity is agents specialised in the wholesale of other particular products (NACE 46180).
- What is the legal form of Nirmana Retail?
- Nirmana Retail is a public limited company (NV).
- When was Nirmana Retail founded?
- Nirmana Retail was founded on 17-10-1960.
- Is Nirmana Retail still active?
- Yes, Nirmana Retail is an active enterprise in the KBO register.
- How many employees does Nirmana Retail have?
- Nirmana Retail had an average of 26.8 full-time equivalents in financial year 2026, according to the filed annual accounts.Financials
- Which joint committee does Nirmana Retail fall under?
- In its 31-03-2026 annual accounts, Nirmana Retail states joint committee 323 (Building management, estate agents and domestic staff).
- What is the turnover of Nirmana Retail?
- The turnover of Nirmana Retail was €290.5m in financial year 2026, according to the filed annual accounts.
- Is Nirmana Retail profitable?
- In financial year 2026, Nirmana Retail made a profit of €17.2m.
- Where can I find the annual accounts of Nirmana Retail?
- Nirmana Retail filed 49 annual accounts with the National Bank of Belgium, the latest for financial year 2026.
- When are the next annual accounts of Nirmana Retail due?
- Nirmana Retail must file the annual accounts for financial year 2027 by 31-10-2027.Timeline
Next steps
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