NACPAN
ActiveSummary
The computed 12-month bankruptcy probability of NACPAN is 1.5% (moderate). The 2025 annual accounts show equity of €34,207 and a net result of €13,468. Equity is growing by ~69.2% per year across the filed fiscal years. Its solvency ranks better than 72% of 18626 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability98▲+3
Solvency85▼-3
Growth78=
Track record100
Bankruptcy probability, 12 months
1.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,500 at 30 days acceptable
Liquidity ample (current ratio 2.28 against 2.17 in 2024; short-term debt: 39.6% and cash: 19.3% of total assets), and 39.6% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← 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
60.4%
Return on assets
23.8%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 09-01-2026, 22 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
22 d early
2024
1 d early
2023
3 d late
2022
3 d early
2021
23 d early
2020
3 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 8 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 28 January (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close30-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€34,207▼ 16.0%
2024 · €40,740
Total assets
€56,674▼ 12.3%
2024 · €64,627
Net result
€13,468▼ 2.2%
2024 · €13,777
Working capital
€28,718▲ 15.2%
2024 · €24,937
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€2,247-€4,906€38,412€21,441▼ 44.2%€21,987▲ 2.5%
Net result€638within the sector's middle half-€6,812below the sector's middle half€33,255above the sector's middle half€13,777within the sector's middle half▼ 58.6%€13,468within the sector's middle half▼ 2.2%
Equity-€11,830below the sector's middle half▲ 5.1%-€18,642below the sector's middle half▼ 57.6%€14,613within the sector's middle half€40,740within the sector's middle half▲ 179%€34,207within the sector's middle half▼ 16.0%
Total assets€10,966below the sector's middle half▲ 563%€13,081below the sector's middle half▲ 19.3%€48,216below the sector's middle half▲ 269%€64,627within the sector's middle half▲ 34.0%€56,674below the sector's middle half▼ 12.3%
Debt€22,796▲ 61.4%€31,723▲ 39.2%€33,603▲ 5.9%€23,887▼ 28.9%€22,467▼ 5.9%
Working capital-€12,046below the sector's middle half▲ 7.4%-€22,812below the sector's middle half▼ 89.4%-€5,931within the sector's middle half▲ 74.0%€24,937within the sector's middle half€28,718within the sector's middle half▲ 15.2%
Solvency-107.9%below the sector's middle half-142.5%below the sector's middle half▼ 34.6pp30.3%within the sector's middle half▲ 172.8pp63.0%above the sector's middle half▲ 32.7pp60.4%within the sector's middle half▼ 2.7pp
Current ratio0.47below the sector's middle half0.27below the sector's middle half▼ 0.200.71below the sector's middle half▲ 0.442.17within the sector's middle half▲ 1.462.28within the sector's middle half▲ 0.10
Return on assets (ROA)5.8%within the sector's middle half-52.1%below the sector's middle half▼ 57.9pp69.0%above the sector's middle half▲ 121.0pp21.3%above the sector's middle half▼ 47.7pp23.8%above the sector's middle half▲ 2.4pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 3% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €56,674
Fixed assets
€5,489 ▼ 70.2%
Current assets
€51,185 ▲ 10.8%
Equity and liabilities €56,674
Equity
€34,207 ▼ 16.0%
Debt
€22,467 ▼ 5.9%
Debt's share of the balance-sheet total rises from 37.0% to 39.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€36,658▼
2024 · €36,677
Cash flow
€28,138▼
2024 · €29,013
Debt to equity
0.66▲
2024 · 0.59
ROE
39.4%▲
2024 · 33.8%
Interest coverage
27.08▲
2024 · 13.15
Debt ≤ 1 year
€22,467▲
2024 · €21,255
Debt > 1 year
€0▼
2024 · €2,368
Income taxes
€9,340▲
2024 · €5,529
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,975 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 26,975 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €324 | €1,107 | €11,447 | €15,236 | €14,671 | ▼ 3.7% |
| Other operating charges640/8 | - | €449 | €2,287 | €1,120 | €2,536 | ▲ 126% |
| Gross operating margin9900 | €3,517 | -€3,351 | €52,146 | €37,797 | €39,194 | ▲ 3.7% |
| Operating profit (loss)9901 | €2,247 | -€4,906 | €38,412 | €21,441 | €21,987 | ▲ 2.5% |
| Financial income75/76B | - | - | - | €654 | €2,173 | ▲ 233% |
| Recurring financial income75 | €0 | - | - | €654 | €2,173 | ▲ 233% |
| Financial charges65/66B | - | €1,905 | €2,334 | €2,789 | €1,354 | ▼ 51.5% |
| Recurring financial charges65 | €1,609 | €1,905 | €2,334 | €2,789 | €1,354 | ▼ 51.5% |
| Profit (loss) for the period before taxes9903 | €638 | -€6,812 | €36,079 | €19,305 | €22,807 | ▲ 18.1% |
| Income taxes67/77 | - | - | €2,824 | €5,529 | €9,340 | ▲ 68.9% |
| Profit (loss) for the period9904 | €638 | -€6,812 | €33,255 | €13,777 | €13,468 | ▼ 2.2% |
| Profit (loss) for the period to be appropriated9905 | €638 | -€6,812 | €33,255 | €13,777 | €13,468 | ▼ 2.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €10,966 | €13,081 | €48,216 | €64,627 | €56,674 | ▼ 12.3% |
| Fixed assets21/28 | €216 | €4,497 | €33,371 | €18,435 | €5,489 | ▼ 70.2% |
| Tangible fixed assets22/27 | €216 | €4,497 | €33,371 | €18,135 | €5,189 | ▼ 71.4% |
| Plant, machinery and equipment23 | - | €4,497 | €2,701 | €905 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | €0 | €2,647 | €1,501 | €1,754 | ▲ 16.9% |
| Leasing and similar rights25 | - | - | €28,022 | €15,729 | €3,435 | ▼ 78.2% |
| Financial fixed assets28 | - | - | - | €300 | €300 | = |
| Current assets29/58 | €10,750 | €8,584 | €14,845 | €46,192 | €51,185 | ▲ 10.8% |
| Stocks and contracts in progress3 | €3,330 | €2,525 | €0 | - | - | - |
| Stocks30/36 | - | €2,525 | €0 | - | - | - |
| Amounts receivable within one year40/41 | €6,059 | €6,014 | €14,800 | €45,071 | €38,086 | ▼ 15.5% |
| Trade receivables40 | - | €6,014 | €14,800 | €10,540 | €15,004 | ▲ 42.4% |
| Other amounts receivable41 | - | - | - | €34,531 | €23,082 | ▼ 33.2% |
| Cash at bank and in hand54/58 | €45 | €45 | €45 | €467 | €10,926 | ▲ 2,238% |
| Deferred charges and accrued income490/1 | - | €0 | - | €654 | €2,173 | ▲ 233% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €10,966 | €13,081 | €48,216 | €64,627 | €56,674 | ▼ 12.3% |
| Equity10/15 | -€11,830 | -€18,642 | €14,613 | €40,740 | €34,207 | ▼ 16.0% |
| Contributions10/11 | - | €6,200 | €6,200 | €18,550 | €18,550 | = |
| Profit (loss) carried forward14 | -€18,030 | -€24,842 | €8,413 | €22,190 | €15,657 | ▼ 29.4% |
| Amounts payable17/49 | €22,796 | €31,723 | €33,603 | €23,887 | €22,467 | ▼ 5.9% |
| Amounts payable after more than one year17 | - | - | €11,879 | €2,368 | €0 | ▼ 100% |
| Financial debts170/4 | - | - | €11,579 | €2,368 | €0 | ▼ 100% |
| Other amounts payable178/9 | - | - | €300 | €0 | - | - |
| Amounts payable within one year42/48 | €22,796 | €31,396 | €20,777 | €21,255 | €22,467 | ▲ 5.7% |
| Current portion of amounts payable after more than one year42 | - | - | €8,803 | €9,210 | €2,368 | ▼ 74.3% |
| Financial debts43 | - | €9,033 | €1,309 | €0 | - | - |
| Credit institutions430/8 | - | €9,033 | €1,309 | €0 | - | - |
| Trade debts44 | €1,388 | €1,412 | €1,217 | €4,662 | €2,022 | ▼ 56.6% |
| Suppliers440/4 | - | €1,412 | €1,217 | €4,662 | €2,022 | ▼ 56.6% |
| Taxes, remuneration and social security45 | - | €1,781 | €7,505 | €7,383 | €18,076 | ▲ 145% |
| Taxes450/3 | - | €1,781 | €7,505 | €5,090 | €18,076 | ▲ 255% |
| Remuneration and social security454/9 | - | - | - | €2,292 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €19,170 | €1,943 | €0 | - | - |
| Accrued charges and deferred income492/3 | - | €327 | €947 | €264 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €638 | -€6,812 | €33,255 | €13,777 | €13,468 | ▼ 2.2% |
| + Depreciation and write-downs630 | €324 | €1,107 | €11,447 | €15,236 | €14,671 | ▼ 3.7% |
| Operating cash flow (approximation) | €962 | -€5,705 | €44,702 | €29,013 | €28,138 | ▼ 3.0% |
| Investment in fixed assets (approximation) | - | -€5,388 | -€40,320 | -€300 | -€1,725 | ▼ 475% |
| Change in cash | - | €0 | €0 | €422 | €10,458 | ▲ 2,377% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
09-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-06
Financial
Liquidity triplescurrent ratio 2.17
Current ratio from 0.71 to 2.17.
03-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 3 days late
2023
30-06
Financial
Back to profitnet €33,255
Net result €33,255 after one loss-making year.
28-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
08-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Back to profitnet €638
Net result €638 after one loss-making year.
28-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 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, Antwerpen · 1 establishment unit since 2018
Ground area
243 m²
Building footprint
80 m²
Parcel 11346B0980/00S000, Flanders. Linked by address, not a title deed.
1 establishment unit
NACPAN
since 20182.283.557.073
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11346B0980/00S000 | Flanders | 243 m² | 1 · 80 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 12,951 companies in sector 47120 we hold annual accounts for 2,192. 1,477 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded18-12-2018
Fiscal year end30-06
Activities, NACEBEL 2025
47120Other non-specialised retail sale
E-invoicing
Reachable via Peppol
Peppol ID
0208:0715957493
Registered
20-11-2020
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.