NACO
InactiveFinancials · financial year 2024, abbreviated format
2024 annual accounts filed 29 days after the deadline Filed on 29 August 2025, deadline 31 July 2025 (7 months after the close on 31 December 2024, Companies Code art. 3:10). Source: NBB, 2025-00431233.
Annual accounts 2024 filed on 29-08-2025 PDF all 48 filings
Turnover
€1.9m▼ 7.7%
2022 · €2.1m
EBIT margin
10.6%▲ 5.7pp
2022 · 4.9%
Net result
€220,571▲ 38.7%
2023 · €159,027
Working capital
€1.5m▲ 13.5%
2023 · €1.3m
Multi-year overview
2018 to 2024, 7 financial yearsTurnover
no figure
2024
20182024
Operating result
€249,745
▲ 22.5%
2024
20182024
Net result
€220,571
▲ 38.7%
2024
20182024
EBIT margin
no figure
2024
20182024
Equity
€1.7m
▲ 15.0%
2024
20182024
Total assets
€1.9m
▲ 8.8%
2024
20182024
Debt
€208,705
▼ 24.3%
2024
20182024
Working capital
€1.5m
▲ 13.5%
2024
20182024
Staff (FTE)
5.9
▼ 6.3%
2024
20182024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Turnover€3.4m-€3.5m▲ 4.6%€1.5m▼ 58.2%€1.3m▼ 15.3%€2.1m▲ 66.4%€1.9m▼ 7.7%
Operating result€0.3m-€0.8m▲ 133%-€0.08m-€0.1m▼ 39.9%€0.1m€0.2m▲ 99.1%€0.2m▲ 22.5%
Net result€0.2m-€0.5m▲ 133%-€0.09m-€0.1m▼ 41.7%€0.09m€0.2m▲ 73.8%€0.2m▲ 38.7%
EBIT margin9.6%-21.4%▲ 11.8pp-5.7%▼ 27.1pp-9.4%▼ 3.7pp4.9%▲ 14.3pp10.6%▲ 5.7pp
Equity€0.9m-€1.4m▲ 57.2%€1.4m▼ 6.5%€1.2m▼ 9.8%€1.3m▲ 7.5%€1.5m▲ 12.1%€1.7m▲ 15.0%
Total assets€3.8m-€2.1m▼ 45.8%€1.7m▼ 16.1%€1.6m▼ 9.7%€1.6m▲ 0.3%€1.8m▲ 10.9%€1.9m▲ 8.8%
Debt€2.9m-€0.6m▼ 78.3%€0.4m▼ 38.1%€0.3m▼ 10.4%€0.3m▼ 24.9%€0.3m▲ 5.2%€0.2m▼ 24.3%
Working capital€0.2m-€0.6m▲ 247%€0.8m▲ 37.9%€1.0m▲ 17.5%€1.2m▲ 21.9%€1.3m▲ 15.1%€1.5m▲ 13.5%
Staff (FTE)11.5-10.4▼ 9.6%9.5▼ 8.7%9.6▲ 1.1%8.1▼ 15.6%6.3▼ 22.2%5.9▼ 6.3%
The operating result for 2024 is 23% higher than in 2023 and the highest since 2020. It is the third rise in a row, after the fall in 2021.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.9m
Fixed assets
€166,420 ▲ 2.0%
Current assets
€1.7m ▲ 9.5%
Equity and liabilities €1.9m
Equity
€1.7m ▲ 15.0%
Provisions
€4,278 =
Debt
€208,705 ▼ 24.3%
Debt's share of the balance-sheet total falls from 15.7% to 11.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€295,067▲
2023 · €269,680
Cash flow
€265,894▲
2023 · €224,877
Current ratio
8.33▲
2023 · 6.61
Debt to equity
0.12▼
2023 · 0.19
ROE
13.0%▲
2023 · 10.8%
ROA
11.6%▲
2023 · 9.1%
Interest coverage
20.21▼
2023 · 36.84
Debt ≤ 1 year
€208,705▼
2023 · €240,371
Income taxes
€17,835▼
2023 · €35,015
Staff costs
€616,128▼
2023 · €694,930
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 10 | 8 | 6 | 6 |
| full-time | 9 | 6 | 6 | 5 |
| part-time | 1 | 2 | - | 1 |
| in full-time equivalents | 9.6 | 7.4 | 6 | 5.8 |
| Average over the year, in full-time equivalents | 9.6 | 8.1 | 6.3 | 5.9 |
| On a permanent contract | 10 | 8 | 6 | 6 |
| Joined | - | 0 | 0 | - |
| Left | - | 2 | 2 | - |
Source: social balance sheet in the 2021 to 2024 annual accounts
Overdue debts
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Overdue social security (RSZ) debts | €107,819 | €83,710 | - | - |
Source: notes to the 2021 to 2024 annual accounts (statement of debts)
Investments
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Tangible fixed assets | €750 | - | €500 | €25,480 |
| Intangible fixed assets | €105,169 | €76,300 | €29,814 | €30,824 |
| Depreciation and write-downs of the year | €356,776 | €178,251 | €65,850 | €45,322 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Auditor
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Fee for the audit | €16,000 | €16,000 | €14,852 | - |
Source: notes to the 2021 to 2024 annual accounts (relations with the auditor)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €1.5m | €2.3m | €2.1m | - | - |
| Turnover70 | €3.4m | €3.5m | €1.5m | €1.3m | €2.1m | €1.9m | - | - |
| Other operating income74 | - | - | - | €0.2m | €0.2m | €0.2m | - | - |
| Non-recurring operating income76A | - | - | - | €0.02m | €0.009m | €0.005m | €0.02m | ▲ 260% |
| Operating charges60/66A | - | - | - | €1.6m | €2.2m | €1.9m | - | - |
| Services and other goods61 | - | - | - | €0.2m | €0.3m | €0.3m | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0.5m | €0.8m | €0.7m | €0.6m | ▼ 11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.5m | €0.4m | €0.4m | €0.4m | €0.2m | €0.07m | €0.05m | ▼ 31.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.02m | -€0.04m | €0.02m | -€0.1m | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €0.004m | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.5m | €1.0m | €0.9m | €0.7m | ▼ 14.2% |
| Non-recurring operating charges66A | - | - | - | €0.001m | €0.02m | €0.03m | €0.008m | ▼ 71.0% |
| Gross operating margin9900 | - | - | - | - | - | - | €1.5m | - |
| Operating profit (loss)9901 | €0.3m | €0.8m | -€0.08m | -€0.1m | €0.1m | €0.2m | €0.2m | ▲ 22.5% |
| Financial income75/76B | - | - | - | €59 | €14 | €49 | €0.003m | ▲ 67× |
| Recurring financial income75 | €0.01m | €52 | €65 | €59 | €14 | €49 | €0.003m | ▲ 67× |
| Other financial income752/9 | - | - | - | €59 | €14 | €49 | - | - |
| Financial charges65/66B | - | - | - | €0.01m | €0.009m | €0.01m | €0.01m | ▲ 48.4% |
| Recurring financial charges65 | €0.008m | €0.003m | €0.008m | €0.01m | €0.009m | €0.01m | €0.01m | ▲ 48.4% |
| Debt charges650 | €0.005m | €0.003m | €0.007m | €0.01m | €0.008m | €0.007m | - | - |
| Other financial charges652/9 | - | - | - | €177 | €0.001m | €0.003m | - | - |
| Profit (loss) for the period before taxes9903 | €0.3m | €0.8m | -€0.09m | -€0.1m | €0.09m | €0.2m | €0.2m | ▲ 22.9% |
| Income taxes67/77 | €0.1m | €0.2m | €0.002m | €0.003m | €0.002m | €0.04m | €0.02m | ▼ 49.1% |
| Taxes670/3 | - | - | - | €0.003m | €0.002m | €0.04m | - | - |
| Tax adjustments and reversals of tax provisions77 | - | - | - | - | €151 | - | - | - |
| Profit (loss) for the period9904 | €0.2m | €0.5m | -€0.09m | -€0.1m | €0.09m | €0.2m | €0.2m | ▲ 38.7% |
| Profit (loss) for the period to be appropriated9905 | €0.2m | €0.5m | -€0.09m | -€0.1m | €0.09m | €0.2m | €0.2m | ▲ 38.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €3.8m | €2.1m | €1.7m | €1.6m | €1.6m | €1.8m | €1.9m | ▲ 8.8% |
| Fixed assets21/28 | €0.9m | €0.9m | €0.6m | €0.4m | €0.2m | €0.2m | €0.2m | ▲ 2.0% |
| Intangible fixed assets21 | €0.3m | €0.3m | €0.3m | €0.2m | €0.1m | €0.08m | €0.07m | ▼ 13.0% |
| Tangible fixed assets22/27 | €0.5m | €0.5m | €0.3m | €0.1m | €0.02m | €0.01m | €0.02m | ▲ 121% |
| Plant, machinery and equipment23 | - | - | - | €0.09m | €0.007m | €0.001m | €0.02m | ▲ 45× |
| Furniture and vehicles24 | - | - | - | - | - | €0 | - | - |
| Other tangible fixed assets26 | - | - | - | €0.02m | €0.02m | €0.01m | €0 | ▼ 100% |
| Financial fixed assets28 | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Other financial fixed assets284/8 | - | - | - | €0.08m | €0.08m | €0.08m | - | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.08m | €0.08m | €0.08m | - | - |
| Current assets29/58 | €3.0m | €1.2m | €1.1m | €1.2m | €1.4m | €1.6m | €1.7m | ▲ 9.5% |
| Amounts receivable within one year40/41 | €2.8m | €0.9m | €1.1m | €1.2m | €1.3m | €1.4m | €1.6m | ▲ 16.5% |
| Trade receivables40 | - | - | - | €0.04m | €0.06m | €0.01m | €0.2m | ▲ 15× |
| Other amounts receivable41 | - | - | - | €1.1m | €1.2m | €1.4m | €1.4m | ▲ 3.1% |
| Cash at bank and in hand54/58 | €0.002m | €0.002m | - | €50 | €0.004m | €0.09m | €0.1m | ▲ 36.7% |
| Deferred charges and accrued income490/1 | - | - | - | €0.05m | €0.09m | €0.1m | €0.008m | ▼ 93.0% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €3.8m | €2.1m | €1.7m | €1.6m | €1.6m | €1.8m | €1.9m | ▲ 8.8% |
| Equity10/15 | €0.9m | €1.4m | €1.4m | €1.2m | €1.3m | €1.5m | €1.7m | ▲ 15.0% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Tax-exempt reserves132 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Distributable reserves133 | - | - | - | €0.8m | €0.8m | €0.8m | €0.8m | = |
| Profit (loss) carried forward14 | - | €0.5m | €0.4m | €0.3m | €0.4m | €0.6m | €0.8m | ▲ 40.0% |
| Provisions and deferred taxes16 | €0.009m | - | - | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Provisions for liabilities and charges160/5 | - | - | - | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Pensions and similar obligations160 | - | - | - | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Amounts payable17/49 | €2.9m | €0.6m | €0.4m | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 24.3% |
| Amounts payable within one year42/48 | €2.8m | €0.6m | €0.3m | €0.3m | €0.2m | €0.2m | €0.2m | ▼ 13.2% |
| Trade debts44 | €0.8m | €0.3m | €0.1m | €0.1m | €0.06m | €0.1m | €0.06m | ▼ 37.1% |
| Suppliers440/4 | - | - | - | €0.1m | €0.06m | €0.1m | €0.06m | ▼ 37.1% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 4.0% |
| Taxes450/3 | - | - | - | €0.02m | €0.03m | €0.05m | €0.07m | ▲ 28.5% |
| Remuneration and social security454/9 | - | - | - | €0.1m | €0.08m | €0.09m | €0.08m | ▼ 11.8% |
| Other amounts payable47/48 | - | - | - | - | €0.006m | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.09m | €0.08m | €0.04m | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €225,748 | €526,309 | -€93,355 | -€132,287 | €91,518 | €159,027 | €220,571 | ▲ 38.7% |
| + Depreciation and write-downs630 | €500,961 | €381,196 | €357,779 | €356,776 | €178,251 | €65,850 | €45,322 | ▼ 31.2% |
| Operating cash flow (approximation) | €726,709 | €907,505 | €264,423 | €224,490 | €269,769 | €224,877 | €265,894 | ▲ 18.2% |
| Investment in fixed assets (approximation) | - | -€443,072 | -€50,590 | -€101,134 | -€53,225 | -€1,091 | -€48,627 | ▼ 4,356% |
| Change in cash | - | €2 | - | - | €3,894 | €89,927 | €34,435 | ▼ 61.7% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 48 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | abbreviated format | 29-08-2025 | 2025-00431233 | |
| 31-12-2023 | full format | 27-09-2024 | 2024-00483595 | |
| 31-12-2022 | full format | 18-09-2023 | 2023-00449891 | |
| 31-12-2021 | full format | 22-06-2022 | 2022-20087151 | |
| 31-12-2020 | full format | 30-06-2021 | 2021-28500018 | |
| 31-12-2019 | full format | 11-06-2020 | 2020-16300368 | |
| 31-12-2018 | full format | 25-06-2019 | 2019-25200292 | |
| 31-12-2017 | full format | 22-06-2018 | 2018-22000317 | |
| 31-12-2016 | full format | 27-07-2017 | 2017-37400228 | |
| 31-12-2015 | full format | 05-08-2016 | 2016-40900091 |