N.A.G.
ActiveN.A.G. has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.35M and a net result of €156k. Equity is growing by ~2.9% per year across the filed fiscal years. Its solvency ranks better than 79% of 679 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability33▲+3
Solvency66▲+2
Growth52=
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €150k at 30 days acceptable
Liquidity short (current ratio 0.46 against 0.36 in 2024), and 38% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
62%
Return on assets
4.1%
Age of the figures
8 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 55
Relative position
BE, all sectors
reference
Sector 55
higher
← fewer bankruptcies
more bankruptcies →
neutral · A punctual record breaks
This company filed 4 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-08-2026, 14 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
14 d late
2024
8 d early
2023
30 d early
2022
24 d early
2021
25 d early
2020
31 d late
2019
28 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
12-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€2.35M▲ 7.1%
2024 · €2.19M
2018: €1.65M
2019: €1.98M
2020: €2.09M
2021: €2.05M
2022: €2.16M
2023: €2.16M
2024: €2.19M
2018 → 2025
Total assets
€3.79M▼ 2.9%
2024 · €3.90M
2018: €4.64M
2019: €4.77M
2020: €4.58M
2021: €4.07M
2022: €4.31M
2023: €4.04M
2024: €3.90M
2018 → 2025
Net result
€156k▲ 17.2%
2024 · €133k
2018: €245k
2019: €328k
2020: €115k
2021: €58k
2022: €118k
2023: €91k
2024: €133k
2018 → 2025
Working capital
€-345k▲ 8.3%
2024 · €-376k
2018: €-319k
2019: €-201k
2020: €-190k
2021: €-288k
2022: €-227k
2023: €-272k
2024: €-376k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€2.05M-€2.16M▲ 5.7%€2.16M▼ 0.2%€2.19M▲ 1.5%€2.35M▲ 7.1%
Operating result€192k-€172k▼ 10.5%€157k▼ 9.1%€194k▲ 23.9%€233k▲ 20.0%
Net result€58k-€118k▲ 101%€91k▼ 23.1%€133k▲ 46.9%€156k▲ 17.2%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 20% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.79M
Fixed assets
€3.50M▼ 5.3%
Current assets
€290k▲ 38.6%
Equity and liabilities €3.79M
Equity
€2.35M▲ 7.1%
Provisions
€86k▼ 5.3%
Debt
€1.35M▼ 16.4%
The debt ratio falls from 41.5% to 35.7%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€446k▲
2024 · €416k
Cash flow
€369k▲
2024 · €355k
Solvency
62.0%▲
2024 · 56.2%
Current ratio
0.46▲
2024 · 0.36
Quick ratio
0.46▲
2024 · 0.36
Debt / equity
0.58▼
2024 · 0.74
ROE
6.6%▲
2024 · 6.1%
ROA
4.1%▲
2024 · 3.4%
Interest coverage
13.46▲
2024 · 11.67
Debt
€1.35M▼
2024 · €1.62M
Debt ≤ 1 year
€635k▲
2024 · €585k
Debt > 1 year
€689k▼
2024 · €975k
Income taxes
€60k▲
2024 · €48k
Staff costs
€156k▲
2024 · €146k
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€3.90M€3.79M▼
Fixed assets21/28€3.69M€3.50M▼
Tangible fixed assets22/27€3.69M€3.50M▼
Land and buildings22€3.69M€3.50M▼
Financial fixed assets28€149€149=
Current assets29/58€209k€290k▲
Amounts receivable within one year40/41€168k€201k▲
Other amounts receivable41€168k€201k▲
Cash at bank and in hand54/58€41k€73k▲
Deferred charges and accrued income490/1€300€16k▲
Equity and liabilities
Total equity and liabilities10/49€3.90M€3.79M▼
Equity10/15€2.19M€2.35M▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Revaluation surpluses12€1€1=
Reserves13€2.13M€2.29M▲
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Tax-exempt reserves132€122k€115k▼
Distributable reserves133€2.00M€2.17M▲
Profit (loss) carried forward14€516€533▲
Provisions and deferred taxes16€91k€86k▼
Provisions for liabilities and charges160/5€50k€48k▼
Major repairs and maintenance162€50k€48k▼
Deferred taxes168€41k€38k▼
Amounts payable17/49€1.62M€1.35M▼
Amounts payable after more than one year17€975k€689k▼
Other amounts payable178/9€975k€689k▼
Amounts payable within one year42/48€585k€635k▲
Current portion of amounts payable after more than one year42€286k€286k=
Trade debts44€6k€20k▲
Suppliers440/4€6k€20k▲
Taxes, remuneration and social security45€28k€83k▲
Taxes450/3€9k€64k▲
Remuneration and social security454/9€19k€20k▲
Other amounts payable47/48€266k€245k▼
Accrued charges and deferred income492/3€57k€29k▼
Income statement
Code20242025
Non-recurring operating income76A€2k€1k▼
Remuneration, social security and pensions62€146k€156k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€222k€213k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€-2k€-2k▼
Other operating charges640/8€59k€60k▲
Gross operating margin9900€619k€660k▲
Operating profit (loss)9901€194k€233k▲
Financial income75/76B€20k€13k▼
Recurring financial income75€20k€13k▼
Financial charges65/66B€36k€33k▼
Recurring financial charges65€36k€33k▼
Profit (loss) for the period before taxes9903€178k€213k▲
Transfer from deferred taxes780€2k€2k=
Income taxes67/77€48k€60k▲
Profit (loss) for the period9904€133k€156k▲
Transfer from tax-exempt reserves789€7k€7k=
Profit (loss) for the period to be appropriated9905€140k€163k▲
Appropriation of the result
Profit (loss) to be appropriated9906€141k€164k▲
Profit (loss) brought forward from the previous period14P€348€516▲
Transfer to equity691/2€40k€163k▲
To other reserves6921€40k€163k▲
Profit to be distributed694/7€100k-
Return on contributions (dividend)694€100k-
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
14-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 14 days late
2025
23-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €58k ▼49.2%
Net result drops to €58k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Equity above €2MEq €2.09M ▲5.7%
3 profitable years in a row build equity to €2.09M.
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €328k ▲33.7%
Operating result €461k, net result €328k, both a record.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
17-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 17 days late
2017
18-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
under verification, no change since 2023
This board is reconstructed from a single act (23483567). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
LEJOLY Jacqueline
CurrentDirector · since 28-12-2023
NACHSEM Daniel
CurrentManaging director · since 28-12-2023
NACHSEM Emile
CurrentDirector · since 28-12-2023
NACHSEM Frank
CurrentManaging director · since 28-12-2023
28-12-2023
LEJOLY Jacqueline: Resigned as Director
28-12-2023
LEJOLY Jacqueline: Appointed as Director
28-12-2023
LEJOLY Jacqueline: Appointed as Director (executive)
28-12-2023
NACHSEM Daniel: Resigned as Director
28-12-2023
NACHSEM Daniel: Appointed as Managing director
28-12-2023
NACHSEM Daniel: Appointed as Director (executive)
28-12-2023
NACHSEM Emile: Resigned as Director
28-12-2023
NACHSEM Emile: Appointed as Director
28-12-2023
NACHSEM Emile: Appointed as Director (executive)
28-12-2023
NACHSEM Frank: Resigned as Director
28-12-2023
NACHSEM Frank: Appointed as Managing director
28-12-2023
NACHSEM Frank: Appointed as Director (executive)
Location & real-estate footprint
Registered office, Malmedy · 1 establishment unit since 1992
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.
Baugnez-Route de Waimes 944960 Malmedy1 establishment unit
Baugnez-Route de Waimes 94, 4960 Malmedy
since 19922.057.772.351
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Of 2,995 companies in sector 55203 we hold annual accounts for 687. 223 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded18-05-1992
Fiscal year end31-12
Activities, NACEBEL
55203Holiday cottages, homes and apartments
69202Legal and accounting activities
69209Other tax advisory services
74121
74131
68121Development of residential building projects
70111
73200Market research and public opinion polling
74501
74851
78100Employment placement agencies
82100Office administrative and support services
82190Office administrative, office support and other business support activities
Sources
Crossroads Bank for EnterprisesNational Bank · 33 filings
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.