Equity
€11.2m from €76.9m in 2020
Equity fell by 85% in 5 years.
Niko Belgium
Lifetime
18 annual accounts with figures on one time axis, 34 filings since 1992peak €154.2m (2022)
€146.3m▲ 1.6%
peak €189.0m (2023)
€5.1m▲ 13.9%
peak €76.9m (2020)
€11.2m▼ 30.9%
€38.8m▼ 8.6%
peak 29.5 FTE (2024)
27.5 FTE▼ 6.8%
Board16 names since 2007all names
3 directorsJozef De Backer and 2 others
Owners3 names in the annual accounts
99.95%ANDHERS and 1 other
Documentsfilings and deeds
08-06-202653 days before the deadline
2025financial year
Powers of attorney: Daniël Sturtewagen, Regado BV and Jo Scho… 13-05New day-to-day manager 08-04Dividend €10.1mEquity from €16.2m to €11.2m
Key points
from the 2025 annual accountsDebts
€38.8m 78% of the balance sheet
Suppliers 72%Taxes and wages 2%Other 26%
Staff
27 employees on 31-12-2025
In 2025, 1 person joined and 4 left.
Filings
34 annual accounts since 1992
The last five annual accounts were filed 48 to 62 days before the end of the period.
Board
1 joined
New director. Latest change 24-03-2026 · 3 in office.
Position in the sector
€5.1m
Higher net result than 95% of companies in wholesale trade. Sector median €110,270 · 6,125 companies.
Checked score
81
Excellent
Financially stronger than 28% of small companies in wholesale trade (NACE 46)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.4% 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 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025lowest value
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.2%▲ +0.1 percentage points 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: 0.4%▲ +0.2 percentage points vs 06-2026highest value
08-2026: 0.4%● unchanged vs 07-2026highest value
09-2026: 0.4%● unchanged vs 08-2026highest value
10-2026: 0.4%● unchanged vs 09-2026highest value
11-2026: 0.4%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
Liquidity: current ratio 1.29, cash €18,064
Equity €11.2m (22.4% of total assets)
lowers risk
Size: turnover €146.3m, 27.5 FTE, total assets €50.0m
Founded in 1992
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 25% of them on solvency, 7% on liquidity, 49% on profitability and 31% on growth.
The bankruptcy probability was computed on 09-11-2026 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 31-12-2025.
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, 2,613 companies had the same profile as Niko Belgium has now. Each dot stands for 7 companies, two years later.
97.3%
were still trading
2.0%
stopped another way
0.7%
went bankrupt
That fits the bankruptcy probability of Niko Belgium itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,447 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 2,613 companies, not a prediction for Niko Belgium. 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 €900,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.29 (1.38 in 2024), below the usual 1.5. Short-term debt is 77.6% and cash 0% of total assets. 77.6% 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
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 25% of 6192 sector peers (2025).
NBB · sector comparisonPosition among 6192 sector peers
Solvency
better than 25%
← weakest
strongest →
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 days early
2024
50 days early
2023
48 days early
2022
55 days early
2021
62 days early
2020
45 days early
2019
44 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 51 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 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 8 June (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
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- ANDHERS 99.95%equity €417.4m (2025) · annual accounts 2025
- Niko 0.05%score 92equity €85.4m (2025) · annual accounts 2025
Shares in 1 company, Niko Slovakia, spol. s.r.o.
Board & ownershipRecent changes
New statutory auditor
PwC Bedrijfsrevisoren BV appointed, EY Bedrijfsrevisoren BV resigned · Permanent representatives: Paul Eelen and Peter D'hondt · General meeting of 18-05-2026 · Gazette deed
Resignation: Violès BV (director)
Appointment: Ycon Consulting BV (director) · Board meeting of 18-02-2026 · Gazette deed
New day-to-day manager
Casmati BV appointed, Daniël Sturtewagen resigned · Board meeting of 10-03-2025 · Gazette deed
1 director appointed, 2 reappointments
Reappointments: Jozef De Backer (chair and managing director) and Violès BV · Permanent representatives: Patrick Van Steelandt and Wim Vandenberghe · Appointment: Violès BV (day-to-day manager) · Board meeting of 20-06-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Niko Belgium Sint-Niklaas | €146.3m | 3.5% | 22.4% | 27.5 |
| Energizer Belgium Tessenderlo-Ham | €168.3m | -1.0% | -0.5% | 25.7 |
| WEG BENELUX S.A. Nivelles | €69.5m | 6.3% | 67.6% | 51.2 |
| Kappa Data Nazareth-De Pinte | €56.5m | 3.0% | 20.6% | 18.8 |
| B - CABLES Lokeren | €46.7m | 10.7% | 75.5% | 14.3 |
| Eltra Temse | €78.8m | -0.8% | 37.2% | 81 |
| A & C SYSTEMS Hoegaarden | €295.1m | 2.4% | 33.9% | 89.4 |
Grey: the largest companies of the sector (wholesale trade (NACE 46)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as Niko Belgium: wholesale of electrical equipment, including installation materials (NACE 46643). They are comparable in size and age: total assets between €21m and €76m, founded between 1968 and 1998.
Official details
Source: KBO- Status
- Active since 04-11-1992Normal situation
- Activity
- Wholesale of electrical equipment, including installation materialsNACE 46643
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.059.573.5819100 Sint-Niklaas, since 18-11-1992
- Financial year end
- 31 December
- Peppol
- Reachable
Annual accounts 2025
- €50.0m▼ 14.7%
- Employeeson 31-12-2025
- 27▼ 10.0%
- Filing
- Filed on 08-06-2026, 53 days before the end of the filing period
Insights on Niko Belgium
Niko Belgium has existed since 1992. Turnover grew from €90.5m in 2008 to €146.3m in 2025 and staff from 20.8 to 27.5 full-time equivalents.
Solvency fell in 2025 from 27.6% to 22.4% because of the dividend.
ANDHERS holds all the shares. In August 2024, the Official Gazette published the appointment of Jozef De Backer as managing director.
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 Niko Belgium
- What is the company number of Niko Belgium?
- The company number of Niko Belgium is 0448.615.694. The VAT number is the same number with BE in front: BE 0448.615.694.
- Where is Niko Belgium based?
- The registered office is at Industriepark-West 40, 9100 Sint-Niklaas.Company details
- What does Niko Belgium do?
- According to the KBO register, the main activity is wholesale of electrical equipment, including installation materials (NACE 46643).
- What is the legal form of Niko Belgium?
- Niko Belgium is a public limited company (NV).
- When was Niko Belgium founded?
- Niko Belgium was founded on 04-11-1992.
- Is Niko Belgium still active?
- Yes, Niko Belgium is an active enterprise in the KBO register.
- How many employees does Niko Belgium have?
- Niko Belgium had an average of 27.5 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does Niko Belgium fall under?
- In its 2025 annual accounts, Niko Belgium states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of Niko Belgium?
- The turnover of Niko Belgium was €146.3m in financial year 2025, according to the filed annual accounts.
- Is Niko Belgium profitable?
- In financial year 2025, Niko Belgium made a profit of €5.1m.
- Where can I find the annual accounts of Niko Belgium?
- Niko Belgium filed 34 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Niko Belgium due?
- Niko Belgium must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence See whether the workforce is growing and whether people stay.Employer check Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check See the other companies in the same group.ANDHERS · 15 companies
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