NAERO
ActiveSummary
NAERO has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €45k and a net result of €142k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 15% of 2284 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability77▲+65
Solvency27▲+16
Growth78▲+20
Track record94
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2.5k at 30 days acceptable
Liquidity tight (current ratio 1.15 against 0.2 in 2024; short-term debt: 15.4% and cash: 0% of total assets), and 97.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer 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
2.2%
Return on assets
6.8%
Age of the figures
15 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 2284 sector peers (2025).
NBB · sector comparisonPosition among 2284 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 09-02-2026, 9 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 · 4 filingsDeviation from the deadline
2025
9 d late
2024
on the day
2023
on the day
2022
1 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 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€45k
2024 · €-97k
2022: €-48k
2023: €-59k▼ -24.7% vs 2022
2024: €-97k▼ -62.8% vs 2023lowest in 4 years
2025: €45k▲ +146% vs 2024highest in 4 years
2022 → 2025
Total assets
€2.08M▲ 197%
2024 · €699k
2022: €155klowest in 4 years
2023: €666k▲ +329% vs 2022
2024: €699k▲ +5.0% vs 2023
2025: €2.08M▲ +197% vs 2024highest in 4 years
2022 → 2025
Net result
€142k
2024 · €-37k
2022: €-50klowest in 4 years
2023: €-12k▲ +76.3% vs 2022
2024: €-37k▼ -217% vs 2023
2025: €142k▲ +479% vs 2024highest in 4 years
2022 → 2025
Working capital
€48k
2024 · €-52k
2022: €-190klowest in 4 years
2023: €143k▲ +176% vs 2022highest in 4 years
2024: €-52k▼ -136% vs 2023
2025: €48k▲ +192% vs 2024
2022 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€-48k-€-59k▼ 24.7%€-97k▼ 62.8%€45k
2022: €-48k
2023: €-59k▼ -24.7% vs 2022
2024: €-97k▼ -62.8% vs 2023lowest in 4 years
2025: €45k▲ +146% vs 2024highest in 4 years
Operating result€-48k-€-3k▲ 93.0%€-27k▼ 727%€179k
2022: €-48klowest in 4 years
2023: €-3k▲ +93.0% vs 2022
2024: €-27k▼ -727% vs 2023
2025: €179k▲ +753% vs 2024highest in 4 years
Net result€-50k-€-12k▲ 76.3%€-37k▼ 217%€142k
2022: €-50klowest in 4 years
2023: €-12k▲ +76.3% vs 2022
2024: €-37k▼ -217% vs 2023
2025: €142k▲ +479% vs 2024highest in 4 years
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €179k after a loss of €27k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.08M
Fixed assets
€1.71M ▲ 149%
Current assets
€367k ▲ 2,773%
Equity and liabilities €2.08M
Equity
€45k
Debt
€2.03M
Debt finances 97.8% of the balance-sheet total.
Key figures and ratios
EBITDA
€1.31M▲
2024 · €-3k
Cash flow
€1.27M▲
2024 · €-13k
Current ratio
1.15▲
2024 · 0.20
Debt to equity
45.46▲
2024 · -8.22
ROE
316.8%
ROA
6.8%▲
2024 · -5.3%
Interest coverage
35.23▲
2024 · -0.26
Debt ≤ 1 year
€319k▲
2024 · €65k
Debt > 1 year
€1.71M▲
2024 · €732k
Income taxes
€124▲
2024 · €110
Staff costs
€44k▲
2024 · €38k
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 · 53 lines
Balance sheet
Code20242025
Assets
Total assets20/58€699k€2.08M▲
Fixed assets21/28€687k€1.71M▲
Tangible fixed assets22/27€393k€1.41M▲
Land and buildings22€247k-
Plant, machinery and equipment23€68k€58k▼
Furniture and vehicles24€78k€58k▼
Leasing and similar rights25-€1.30M
Financial fixed assets28€294k€294k=
Current assets29/58€13k€367k▲
Amounts receivable within one year40/41€1k€346k▲
Trade receivables40-€325k
Other amounts receivable41€1k€20k▲
Cash at bank and in hand54/58€7k€876▼
Deferred charges and accrued income490/1€5k€20k▲
Equity and liabilities
Total equity and liabilities10/49€699k€2.08M▲
Equity10/15€-97k€45k▲
Contributions10/11€2k€2k=
Reserves13-€43k
Distributable reserves133-€43k
Profit (loss) carried forward14€-99k-
Amounts payable17/49€796k€2.03M▲
Amounts payable after more than one year17€732k€1.71M▲
Financial debts170/4€357k€1.32M▲
Other amounts payable178/9€374k€388k▲
Amounts payable within one year42/48€65k€319k▲
Current portion of amounts payable after more than one year42€29k€92k▲
Financial debts43-€306
Credit institutions430/8-€306
Trade debts44€5k€27k▲
Suppliers440/4€5k€27k▲
Taxes, remuneration and social security45€24k€200k▲
Taxes450/3€6k€196k▲
Remuneration and social security454/9€18k€4k▼
Other amounts payable47/48€8k-
Income statement
Code20242025
Remuneration, social security and pensions62€38k€44k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€25k€1.13M▲
Other operating charges640/8€5k€6k▲
Non-recurring operating charges66A€14k-
Gross operating margin9900€55k€1.36M▲
Operating profit (loss)9901€-27k€179k▲
Financial income75/76B€0€0▼
Recurring financial income75€0€0▼
Financial charges65/66B€10k€37k▲
Recurring financial charges65€10k€37k▲
Profit (loss) for the period before taxes9903€-37k€142k▲
Income taxes67/77€110€124▲
Profit (loss) for the period9904€-37k€142k▲
Profit (loss) for the period to be appropriated9905€-37k€142k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-99k€43k▲
Profit (loss) brought forward from the previous period14P€-61k€-99k▼
Transfer to equity691/2-€43k
To other reserves6921-€43k
Social balance
Average headcount (FTE)90871.01.0=
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | €9k | €66k | - | - | - |
| Remuneration, social security and pensions62 | - | €7k | €38k | €44k | ▲ 16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14k | €19k | €25k | €1.13M | ▲ 4,455% |
| Other operating charges640/8 | €2k | €3k | €5k | €6k | ▲ 16.9% |
| Non-recurring operating charges66A | - | €2k | €14k | - | - |
| Gross operating margin9900 | €-31k | €28k | €55k | €1.36M | ▲ 2,385% |
| Operating profit (loss)9901 | €-48k | €-3k | €-27k | €179k | ▲ 753% |
| Financial income75/76B | €0 | €0 | €0 | €0 | ▼ 50.0% |
| Recurring financial income75 | €0 | €0 | €0 | €0 | ▼ 50.0% |
| Financial charges65/66B | €2k | €8k | €10k | €37k | ▲ 275% |
| Recurring financial charges65 | €2k | €8k | €10k | €37k | ▲ 275% |
| Profit (loss) for the period before taxes9903 | €-49k | €-12k | €-37k | €142k | ▲ 480% |
| Income taxes67/77 | €506 | €140 | €110 | €124 | ▲ 12.9% |
| Profit (loss) for the period9904 | €-50k | €-12k | €-37k | €142k | ▲ 479% |
| Profit (loss) for the period to be appropriated9905 | €-50k | €-12k | €-37k | €142k | ▲ 479% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €155k | €666k | €699k | €2.08M | ▲ 197% |
| Fixed assets21/28 | €142k | €473k | €687k | €1.71M | ▲ 149% |
| Tangible fixed assets22/27 | €142k | €182k | €393k | €1.41M | ▲ 260% |
| Land and buildings22 | - | - | €247k | - | - |
| Plant, machinery and equipment23 | €97k | €76k | €68k | €58k | ▼ 14.3% |
| Furniture and vehicles24 | €45k | €105k | €78k | €58k | ▼ 25.9% |
| Leasing and similar rights25 | - | - | - | €1.30M | - |
| Financial fixed assets28 | - | €291k | €294k | €294k | = |
| Current assets29/58 | €13k | €193k | €13k | €367k | ▲ 2,773% |
| Amounts receivable within one year40/41 | €9k | €179k | €1k | €346k | ▲ 25,483% |
| Trade receivables40 | €8k | - | - | €325k | - |
| Other amounts receivable41 | €1k | €179k | €1k | €20k | ▲ 1,404% |
| Cash at bank and in hand54/58 | €3k | €10k | €7k | €876 | ▼ 87.2% |
| Deferred charges and accrued income490/1 | €540 | €4k | €5k | €20k | ▲ 346% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €155k | €666k | €699k | €2.08M | ▲ 197% |
| Equity10/15 | €-48k | €-59k | €-97k | €45k | ▲ 146% |
| Contributions10/11 | €2k | €2k | €2k | €2k | = |
| Reserves13 | - | - | - | €43k | - |
| Distributable reserves133 | - | - | - | €43k | - |
| Profit (loss) carried forward14 | €-50k | €-61k | €-99k | - | - |
| Amounts payable17/49 | €203k | €726k | €796k | €2.03M | ▲ 155% |
| Amounts payable after more than one year17 | - | €676k | €732k | €1.71M | ▲ 134% |
| Financial debts170/4 | - | €342k | €357k | €1.32M | ▲ 270% |
| Other amounts payable178/9 | - | €333k | €374k | €388k | ▲ 3.7% |
| Amounts payable within one year42/48 | €203k | €50k | €65k | €319k | ▲ 393% |
| Current portion of amounts payable after more than one year42 | - | €21k | €29k | €92k | ▲ 221% |
| Financial debts43 | - | - | - | €306 | - |
| Credit institutions430/8 | - | - | - | €306 | - |
| Trade debts44 | €10k | €4k | €5k | €27k | ▲ 482% |
| Suppliers440/4 | €10k | €4k | €5k | €27k | ▲ 482% |
| Taxes, remuneration and social security45 | €4k | €25k | €24k | €200k | ▲ 743% |
| Taxes450/3 | €4k | €2k | €6k | €196k | ▲ 3,338% |
| Remuneration and social security454/9 | - | €22k | €18k | €4k | ▼ 78.2% |
| Other amounts payable47/48 | €188k | - | €8k | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-50k | €-12k | €-37k | €142k | ▲ 479% |
| + Depreciation and write-downs630 | €14k | €19k | €25k | €1.13M | ▲ 4,455% |
| Operating cash flow (approximation) | €-35k | €7k | €-13k | €1.27M | ▲ 10,157% |
| Investment in fixed assets (approximation) | - | €-350k | €-239k | €-2.15M | ▼ 800% |
| Change in cash | - | €7k | €-3k | €-6k | ▼ 75.2% |
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
04-08
State Gazette act
Registered officeRegistered-office move2 facts ▸
State Gazette act
Registered office
Registered-office move2 facts ▸
- General meeting, 01/04/2026
- Registered-office move, 8430 Middelkerke, De Middelpolder 38
09-02
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 9 days late
2025
30-06
Financial
Back to profitnet €142k
Net result €142k after 3 loss-making years.
30-06
Financial
Liquidity times 6current ratio 1.15
Current ratio from 0.20 to 1.15.
31-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-06
Financial
Liquidity times 59current ratio 3.87
Current ratio from 0.07 to 3.87; short-term debt falls from €203k to €50k.
30-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 2 acts read
About the unread acts
Of the 2 Belgian State Gazette acts we know for this company, 1 has been read. The other one has not 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 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Middelkerke · 1 establishment unit since 2021
Ground area
2,037 m²
Building footprint
772 m²
Parcel 35011A0528/00A000, Flanders. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
NAERO
since 20212.319.653.842
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35011A0528/00A000 | Flanders | 2,037 m² | 1 · 772 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 24,497 companies in sector 82990 we hold annual accounts for 9,406. 6,818 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
Founded12-07-2021
Fiscal year end30-06
Activities, NACEBEL 2025
64210Activities of holding companies
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.