JOHAN NICOLAI
ActiveJOHAN NICOLAI has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €124k and a net result of €49k. Equity is shrinking by ~34.8% per year across the filed fiscal years. Its solvency ranks better than 9% of 479 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
53
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability51▲+6
Solvency27▲+1
Growth32=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity tight (current ratio 1.08 against 1.09 in 2024; short-term debt: 79% and cash: 2.9% of total assets), and 98.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 01
Relative position
BE, all sectors
reference
Sector 01
lower
← fewer bankruptcies
more bankruptcies →
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
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
1.8%
Return on assets
0.7%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 479 sector peers (2025).
NBB · sector comparisonPosition among 479 sector peers
Solvency
better than 9%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €124k
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 24-07-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
8 d early
2023
23 d early
2022
42 d early
2021
27 d early
2020
12 d early
2019
31 d early
← before the deadline
after the deadline →
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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€49k▲ 977%
2024 · €5k
2018: €52k
2019: €151k
2020: €87k
2021: €-302k
2022: €-228k
2023: €-204k
2024: €5k
2018 → 2025
Working capital
€416k▲ 7.0%
2024 · €389k
2018: €2.09M
2019: €1.56M
2020: €1.34M
2021: €1.07M
2022: €723k
2023: €372k
2024: €389k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€502k-€274k▼ 45.3%€70k▼ 74.5%€75k▲ 6.6%€124k▲ 66.2%
Operating result€-241k-€-154k▲ 36.0%€-130k▲ 16.0%€116k€159k▲ 37.5%
Net result€-302k-€-228k▲ 24.7%€-204k▲ 10.2%€5k€49k▲ 977%
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 37% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.71M
Fixed assets
€994k▼ 0.3%
Current assets
€5.72M▲ 18.6%
Equity and liabilities €6.71M
Equity
€124k▲ 66.2%
Debt
€6.59M▲ 14.7%
The debt ratio falls from 98.7% to 98.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€412k▲
2024 · €357k
Cash flow
€302k▲
2024 · €246k
Solvency
1.8%▲
2024 · 1.3%
Current ratio
1.08▼
2024 · 1.09
Quick ratio
0.54▲
2024 · 0.46
Debt / equity
53.18▼
2024 · 77.06
ROE
39.8%▲
2024 · 6.1%
ROA
0.7%▲
2024 · 0.1%
Interest coverage
3.72▲
2024 · 3.17
Debt
€6.59M▲
2024 · €5.75M
Debt ≤ 1 year
€5.30M▲
2024 · €4.43M
Debt > 1 year
€1.23M▼
2024 · €1.26M
Income taxes
€418▼
2024 · €967
Staff costs
€1.35M▲
2024 · €1.24M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€5.82M€6.71M▲
Fixed assets21/28€997k€994k▼
Tangible fixed assets22/27€997k€994k▼
Land and buildings22€671k€555k▼
Plant, machinery and equipment23€244k€350k▲
Furniture and vehicles24€67k€75k▲
Leasing and similar rights25€11k€5k▼
Other tangible fixed assets26€4k€10k▲
Current assets29/58€4.82M€5.72M▲
Stocks and contracts in progress3€2.80M€2.86M▲
Stocks30/36€2.80M€2.86M▲
Amounts receivable within one year40/41€1.84M€2.64M▲
Trade receivables40€1.80M€2.62M▲
Other amounts receivable41€36k€16k▼
Cash at bank and in hand54/58€177k€197k▲
Deferred charges and accrued income490/1€10k€26k▲
Equity and liabilities
Total equity and liabilities10/49€5.82M€6.71M▲
Equity10/15€75k€124k▲
Contributions10/11€188k€188k=
Capital10€188k€188k=
Issued capital100€188k€188k=
Reserves13€314k€314k=
Non-distributable reserves130/1€139k€139k=
Legal reserve130€139k€139k=
Distributable reserves133€175k€175k=
Profit (loss) carried forward14€-427k€-378k▲
Amounts payable17/49€5.75M€6.59M▲
Amounts payable after more than one year17€1.26M€1.23M▼
Financial debts170/4€1.26M€1.23M▼
Amounts payable within one year42/48€4.43M€5.30M▲
Current portion of amounts payable after more than one year42€210k€213k▲
Financial debts43€350k€250k▼
Credit institutions430/8€350k€250k▼
Trade debts44€622k€1.32M▲
Suppliers440/4€622k€1.32M▲
Advances received on contracts in progress46€207k€358k▲
Taxes, remuneration and social security45€113k€92k▼
Taxes450/3€19k€20k▲
Remuneration and social security454/9€94k€72k▼
Other amounts payable47/48€2.93M€3.07M▲
Accrued charges and deferred income492/3€47k€55k▲
Income statement
Code20242025
Non-recurring operating income76A€29k-
Remuneration, social security and pensions62€1.24M€1.35M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€241k€253k▲
Other operating charges640/8€32k€35k▲
Non-recurring operating charges66A€8k€3k▼
Gross operating margin9900€1.64M€1.80M▲
Operating profit (loss)9901€116k€159k▲
Financial income75/76B€3k€1k▼
Recurring financial income75€3k€1k▼
Financial charges65/66B€113k€111k▼
Recurring financial charges65€112k€111k▼
Non-recurring financial charges66B€917-
Profit (loss) for the period before taxes9903€6k€50k▲
Income taxes67/77€967€418▼
Profit (loss) for the period9904€5k€49k▲
Profit (loss) for the period to be appropriated9905€5k€49k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-427k€-378k▲
Profit (loss) brought forward from the previous period14P€-432k€-427k▲
Social balance
Average headcount (FTE)908725.024.0▼
The notes to these accounts (18 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
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Equity above €100kEq €124k ▲66.2%
2 profitable years in a row build equity to €124k.
23-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €5k
Net result €5k after 3 loss-making years.
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
04-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet €-302k ▼449%
Net result drops to €-302k, the lowest in the series; recovery starts the following year.
19-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Highest result since 2018net €151k ▲192%
Operating result €240k, net result €151k, both a record.
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 27 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
8 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, Sint-Truiden · 1 establishment unit since 1994
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.
Lichtenberglaan 20503800 Sint-TruidenGround area
1.4 ha
Building footprint
3,642 m²
Volume, LiDAR
6,232 m³
Parcel 71353E0501/00H000, Flanders · tallest building 9.9 m. Linked by address, not a title deed.
1 establishment unit
Lichtenberglaan 2050, 3800 Sint-Truiden
since 19942.065.140.589
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71353E0501/00H000 | Flanders | 1.4 ha | 1 · 3,642 m² | 9.9 m |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel 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 to 2025 · 4 entries · 1,715 EUR awarded · 1,715 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,397 EUR | 1,397 EUR |
| 2024 | 1 | 170 EUR | 170 EUR |
| 2023 | 1 | 89 EUR | 89 EUR |
| 2022 | 1 | 59 EUR | 59 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 siteSint-Truiden2.065.140.589
Similar companies · same sector, comparable size
BOOMKWEKERIJ GEERTS
BE 0841.803.810
Berlaar · Eq €123k
PEPINIERES DE LOUVEIGNE
BE 0761.829.387
Sprimont · Eq €123k
BOOM- EN HANDELSKWEKERIJ TIELEMANS
BE 0461.327.941
Sint-Pieters-Leeuw · Eq €122k
WILLY DE NYS
BE 0452.292.786
Wetteren · Eq €122k
HORTITEL
BE 0426.357.461
Tellin · Eq €121k
Of 641 companies in sector 01301 we hold annual accounts for 297. 213 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded03-01-1994
Fiscal year end31-12
Activities, NACEBEL
01123
01301Crop and animal production, hunting and related service activities
01410Raising of dairy cattle
81300Landscape service activities
Sources
Crossroads Bank for EnterprisesNational Bank · 30 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.