Games - Nazareth
ActiveSummary
Games - Nazareth has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.13M and a net result of €212k. Equity is growing by ~27.6% per year across the filed fiscal years. Its solvency ranks better than 60% of 65 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
80
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability87▼-6
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €90k at 30 days acceptable
Liquidity ample (current ratio 2.97 against 3.95 in 2024; short-term debt: 23.5% and cash: 6.9% of total assets), and 23.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 92
Relative position
BE, all sectors
reference
Sector 92
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
76.5%
Return on assets
14.3%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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 09-06-2026, 52 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
52 d early
2024
55 d early
2023
40 d early
2022
287 d late
2021
652 d late
2020
43 d early
2019
43 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€447k▼ 47.2%
2019 · €847k
2019: €847k
2019 → 2020
EBIT margin
-19.1%▼ 11.7pp
2019 · -7.5%
2019: -7.5%
2019 → 2020
Net result
€212k▼ 5.8%
2024 · €225k
2019: €-61k
2020: €-86k
2021: €278k
2022: €156k
2023: €79k
2024: €225k
2019 → 2025
Working capital
€682k▲ 4.2%
2024 · €655k
2019: €51k
2020: €-15k
2021: €242k
2022: €434k
2023: €543k
2024: €655k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€460k-€616k▲ 33.9%€695k▲ 12.9%€920k▲ 32.4%€1.13M▲ 23.0%
Operating result€308k-€210k▼ 31.9%€115k▼ 45.1%€366k▲ 218%€367k▲ 0.2%
Net result€278k-€156k▼ 44.0%€79k▼ 49.2%€225k▲ 184%€212k▼ 5.8%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 0% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.48M
Fixed assets
€450k ▲ 60.6%
Current assets
€1.03M ▲ 17.3%
Equity and liabilities €1.48M
Equity
€1.13M ▲ 23.0%
Provisions
€0 ▼ 100%
Debt
€347k ▲ 56.1%
Debt's share of the balance-sheet total rises from 19.2% to 23.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€425k▲
2024 · €417k
Cash flow
€270k▼
2024 · €276k
Current ratio
2.97▼
2024 · 3.95
Debt to equity
0.31▲
2024 · 0.24
ROE
18.7%▼
2024 · 24.5%
ROA
14.3%▼
2024 · 19.4%
Interest coverage
86.96▼
2024 · 105.19
Debt ≤ 1 year
€347k▲
2024 · €222k
Income taxes
€166k▲
2024 · €158k
Staff costs
€235k▲
2024 · €216k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 48 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.16M€1.48M▲
Fixed assets21/28€280k€450k▲
Tangible fixed assets22/27€205k€375k▲
Plant, machinery and equipment23€137k€312k▲
Other tangible fixed assets26€68k€63k▼
Financial fixed assets28€75k€75k=
Current assets29/58€878k€1.03M▲
Amounts receivable within one year40/41€784k€927k▲
Trade receivables40€2k-
Other amounts receivable41€782k€927k▲
Cash at bank and in hand54/58€93k€102k▲
Deferred charges and accrued income490/1€232€742▲
Equity and liabilities
Total equity and liabilities10/49€1.16M€1.48M▲
Equity10/15€920k€1.13M▲
Contributions10/11€10k€10k=
Reserves13€351k€351k=
Non-distributable reserves130/1€33k€33k=
Other1319€33k€33k=
Distributable reserves133€318k€318k=
Profit (loss) carried forward14€559k€770k▲
Provisions and deferred taxes16€15k-
Provisions for liabilities and charges160/5€15k-
Other liabilities and charges164/5€15k-
Amounts payable17/49€222k€347k▲
Amounts payable within one year42/48€222k€347k▲
Trade debts44€98k€244k▲
Suppliers440/4€98k€244k▲
Taxes, remuneration and social security45€96k€85k▼
Taxes450/3€69k€52k▼
Remuneration and social security454/9€27k€33k▲
Other amounts payable47/48€28k€19k▼
Income statement
Code20242025
Remuneration, social security and pensions62€216k€235k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€51k€58k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€15k€-15k▼
Other operating charges640/8€411k€402k▼
Gross operating margin9900€1.06M€1.05M▼
Operating profit (loss)9901€366k€367k▲
Financial income75/76B€21k€16k▼
Recurring financial income75€21k€16k▼
Financial charges65/66B€4k€5k▲
Recurring financial charges65€4k€5k▲
Profit (loss) for the period before taxes9903€383k€378k▼
Income taxes67/77€158k€166k▲
Profit (loss) for the period9904€225k€212k▼
Profit (loss) for the period to be appropriated9905€225k€212k▼
Appropriation of the result
Profit (loss) to be appropriated9906€559k€770k▲
Profit (loss) brought forward from the previous period14P€333k€559k▲
Social balance
Average headcount (FTE)90874.34.0▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
09-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Equity above €1MEq €1.13M ▲23%
5 profitable years in a row build equity to €1.13M.
06-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
13-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 287 days late
13-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 652 days late
2022
31-12
Financial
Liquidity doublescurrent ratio 4.43
Current ratio from 2.02 to 4.43; short-term debt falls from €238k to €126k.
31-12
Financial
Equity above €500kEq €616k ▲33.9%
2 profitable years in a row build equity to €616k.
2021
31-12
Financial
Back to profitnet €278k
Net result €278k after 2 loss-making years.
31-12
Financial
Liquidity triplescurrent ratio 2.02
Current ratio from 0.78 to 2.02.
31-12
Financial
Equity above €200kEq €460k ▲153%
Equity rises from €182k to €460k.
18-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
Show earlier events
2020
31-12
Financial
Weakest financial yearnet €-86k
Net result drops to €-86k, the lowest in the series; recovery starts the following year.
18-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
19-12
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
02-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 2 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
15 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Aalst · 1 establishment unit since 2005
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Korte Keppestraat 239320 AalstGround area
2.1 ha
Building footprint
2,416 m²
Volume, LiDAR
47,085 m³
2 parcels, Flanders · tallest building 58.8 m, ±9 floors. Linked by address, not a title deed.
1 establishment unit
Napoleon Games
since 20052.137.806.259
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41342B0932/00D000 | Flanders | 1.7 ha | 1 · 2,128 m² | 58.8 m · 9 fl. |
| 44048A0357/00P000 | Flanders | 3,743 m² | 1 · 287 m² | 9.3 m · 1 fl. |
Linked by address, not proof of ownership
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.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 6,390 EUR awarded · 6,390 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 6,390 EUR | 6,390 EUR |
Schemes
Vlaams beschermingsmechanisme 12 (stopgezet)
Recognitions · licences · registrations
Food safety, FASFC
1 siteNazareth-De Pinte2.137.806.259
Similar companies · same sector, comparable size
S T E S A
BE 0861.417.309
Grimbergen · Eq €1.11M
ALEACSYS
BE 0432.889.719
Haaltert · Eq €1.16M
Power Gaming
BE 0515.983.679
Brugge · Eq €1.18M
BRUSSELS GAMING
BE 0829.299.124
Braine-l'Alleud · Eq €1.03M
PLAYGAMES
BE 0439.614.985
Sint-Lambrechts-Woluwe · Eq €1.02M
Of 506 companies in sector 92000 we hold annual accounts for 303. 199 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded29-06-2004
Fiscal year end31-12
Activities, NACEBEL 2025
92000Gambling and betting activities
56301Cafés and bars
Sources
Crossroads Bank for EnterprisesNational Bank · 21 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.