NAEST
ActiveSummary
NAEST has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.4m and a net result of €133,113. Equity is growing by ~5.5% per year across the filed fiscal years. Its solvency ranks better than 75% of 10485 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▲+1
Solvency88▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100,000 at 30 days acceptable
Liquidity short (current ratio 0.15 against 0.1 in 2024; short-term debt: 33.2% and cash: 0.1% of total assets), and 37.2% of the assets are financed with debt.
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Signals
Six 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
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
62.8%
Return on assets
6%
Age of the figures
9 mo
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
18 d early
2023
21 d early
2022
26 d early
2021
11 d early
2020
53 d early
2019
29 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 24 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€1.4m▲ 10.5%
2024 · €1.3m
Total assets
€2.2m▼ 2.4%
2024 · €2.3m
Net result
€133,113▲ 7.6%
2024 · €123,676
Working capital
-€629,175▲ 15.9%
2024 · -€747,901
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€14,089€37,242▲ 164%€62,762▲ 68.5%€79,046▲ 25.9%€74,141▼ 6.2%
Net result-€781below the sector's middle half€61,646within the sector's middle half€114,370within the sector's middle half▲ 85.5%€123,676above the sector's middle half▲ 8.1%€133,113above the sector's middle half▲ 7.6%
Equity€970,318above the sector's middle half▼ 0.9%€1.0mabove the sector's middle half▲ 6.4%€1.1mabove the sector's middle half▲ 11.1%€1.3mabove the sector's middle half▲ 10.8%€1.4mabove the sector's middle half▲ 10.5%
Total assets€2.4mabove the sector's middle half▼ 7.7%€2.3mabove the sector's middle half▼ 3.4%€2.3mabove the sector's middle half▼ 0.7%€2.3mabove the sector's middle half▼ 0.8%€2.2mabove the sector's middle half▼ 2.4%
Debt€1.4m▼ 11.7%€1.3m▼ 9.9%€1.2m▼ 10.1%€1.0m▼ 12.3%€832,253▼ 18.5%
Working capital-€956,459▼ 0.5%-€928,971▲ 2.9%-€829,214▲ 10.7%-€747,901▲ 9.8%-€629,175▲ 15.9%
Solvency40.3%within the sector's middle half▲ 2.8pp44.3%within the sector's middle half▲ 4.1pp49.6%within the sector's middle half▲ 5.3pp55.4%within the sector's middle half▲ 5.8pp62.8%above the sector's middle half▲ 7.3pp
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 abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 6% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.2m
Fixed assets
€2.1m ▼ 3.9%
Current assets
€113,240 ▲ 36.1%
Equity and liabilities €2.2m
Equity
€1.4m ▲ 10.5%
Debt
€832,253 ▼ 18.5%
Debt's share of the balance-sheet total falls from 44.6% to 37.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€160,187▼
2024 · €167,057
Cash flow
€219,159▲
2024 · €211,687
Current ratio
0.15▲
2024 · 0.10
Debt to equity
0.59▼
2024 · 0.80
ROE
9.5%▼
2024 · 9.7%
ROA
6.0%▲
2024 · 5.4%
Interest coverage
14.05▲
2024 · 11.79
Debt ≤ 1 year
€742,416▼
2024 · €831,083
Debt > 1 year
€89,838▼
2024 · €188,771
Income taxes
€29,696▲
2024 · €21,246
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,082 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 20,082 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 | €114,641 | €85,282 | €83,920 | €88,011 | €86,046 | ▼ 2.2% |
| Other operating charges640/8 | €6,976 | €28,771 | €6,399 | €8,593 | €9,208 | ▲ 7.2% |
| Gross operating margin9900 | €135,706 | €151,295 | €153,081 | €175,650 | €169,395 | ▼ 3.6% |
| Operating profit (loss)9901 | €14,089 | €37,242 | €62,762 | €79,046 | €74,141 | ▼ 6.2% |
| Financial income75/76B | €13 | €50,012 | €80,055 | €80,043 | €100,065 | ▲ 25.0% |
| Recurring financial income75 | €13 | €50,012 | €80,055 | €80,043 | €100,065 | ▲ 25.0% |
| Financial charges65/66B | €22,856 | €18,708 | €16,447 | €14,168 | €11,397 | ▼ 19.6% |
| Recurring financial charges65 | €22,856 | €18,708 | €16,447 | €14,168 | €11,397 | ▼ 19.6% |
| Profit (loss) for the period before taxes9903 | -€8,754 | €68,546 | €126,370 | €144,921 | €162,809 | ▲ 12.3% |
| Transfer from deferred taxes780 | €7,973 | - | - | - | - | - |
| Income taxes67/77 | - | €6,900 | €12,000 | €21,246 | €29,696 | ▲ 39.8% |
| Profit (loss) for the period9904 | -€781 | €61,646 | €114,370 | €123,676 | €133,113 | ▲ 7.6% |
| Transfer from tax-exempt reserves789 | - | €7,973 | €7,973 | €7,973 | €7,973 | = |
| Profit (loss) for the period to be appropriated9905 | -€781 | €69,620 | €122,344 | €131,649 | €141,087 | ▲ 7.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.4m | €2.3m | €2.3m | €2.3m | €2.2m | ▼ 2.4% |
| Fixed assets21/28 | €2.4m | €2.3m | €2.3m | €2.2m | €2.1m | ▼ 3.9% |
| Tangible fixed assets22/27 | €1.3m | €1.2m | €1.2m | €1.1m | €1.0m | ▼ 7.7% |
| Land and buildings22 | €891,347 | €858,716 | €826,084 | €793,453 | €760,821 | ▼ 4.1% |
| Plant, machinery and equipment23 | €404,045 | €354,391 | €358,911 | €331,084 | €277,670 | ▼ 16.1% |
| Furniture and vehicles24 | €3,385 | €389 | - | - | - | - |
| Financial fixed assets28 | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | = |
| Current assets29/58 | €25,688 | €29,798 | €42,159 | €83,183 | €113,240 | ▲ 36.1% |
| Amounts receivable within one year40/41 | - | - | - | - | €319 | - |
| Other amounts receivable41 | - | - | - | - | €319 | - |
| Current investments50/53 | €11,500 | €12,000 | €3,250 | €13,519 | €24,034 | ▲ 77.8% |
| Cash at bank and in hand54/58 | €523 | €2,281 | €5,034 | €3,429 | €1,570 | ▼ 54.2% |
| Deferred charges and accrued income490/1 | €13,665 | €15,518 | €33,875 | €66,235 | €87,318 | ▲ 31.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.4m | €2.3m | €2.3m | €2.3m | €2.2m | ▼ 2.4% |
| Equity10/15 | €970,318 | €1.0m | €1.1m | €1.3m | €1.4m | ▲ 10.5% |
| Contributions10/11 | €232,500 | €232,500 | €232,500 | €232,500 | €232,500 | = |
| Capital10 | €232,500 | €232,500 | €232,500 | €232,500 | €232,500 | = |
| Issued capital100 | €232,500 | €232,500 | €232,500 | €232,500 | €232,500 | = |
| Reserves13 | €373,323 | €434,349 | €546,376 | €668,402 | €780,429 | ▲ 16.8% |
| Non-distributable reserves130/1 | €27,750 | €27,750 | €27,750 | €27,750 | €27,750 | = |
| Legal reserve130 | €27,750 | €27,750 | €27,750 | €27,750 | €27,750 | = |
| Tax-exempt reserves132 | €178,073 | €170,099 | €162,126 | €154,152 | €146,179 | ▼ 5.2% |
| Distributable reserves133 | €167,500 | €236,500 | €356,500 | €486,500 | €606,500 | ▲ 24.7% |
| Profit (loss) carried forward14 | €364,495 | €365,115 | €367,458 | €369,107 | €390,194 | ▲ 5.7% |
| Amounts payable17/49 | €1.4m | €1.3m | €1.2m | €1.0m | €832,253 | ▼ 18.5% |
| Amounts payable after more than one year17 | €450,423 | €334,125 | €292,974 | €188,771 | €89,838 | ▼ 52.4% |
| Financial debts170/4 | €450,423 | €334,125 | €292,974 | €188,771 | €89,838 | ▼ 52.4% |
| Amounts payable within one year42/48 | €982,147 | €958,769 | €871,372 | €831,083 | €742,416 | ▼ 10.7% |
| Current portion of amounts payable after more than one year42 | €111,756 | €116,067 | €106,516 | €118,751 | €99,183 | ▼ 16.5% |
| Trade debts44 | €391 | €23,301 | €17,869 | €13,095 | €8,232 | ▼ 37.1% |
| Suppliers440/4 | €391 | €23,301 | €17,869 | €13,095 | €8,232 | ▼ 37.1% |
| Taxes, remuneration and social security45 | - | €6,900 | €11,987 | €9,237 | - | - |
| Taxes450/3 | - | €6,900 | €11,987 | €9,237 | - | - |
| Other amounts payable47/48 | €870,000 | €812,500 | €735,000 | €690,000 | €635,000 | ▼ 8.0% |
| Accrued charges and deferred income492/3 | €5,223 | €2,081 | €118 | €1,500 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€781 | €61,646 | €114,370 | €123,676 | €133,113 | ▲ 7.6% |
| + Depreciation and write-downs630 | €114,641 | €85,282 | €83,920 | €88,011 | €86,046 | ▼ 2.2% |
| Operating cash flow (approximation) | €113,860 | €146,928 | €198,290 | €211,687 | €219,159 | ▲ 3.5% |
| Investment in fixed assets (approximation) | - | €0 | -€55,420 | -€27,553 | €0 | ▲ 100% |
| Change in cash | - | €1,758 | €2,753 | -€1,605 | -€1,859 | ▼ 15.8% |
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
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €133,113 ▲7.6%
Net result €133,113, the highest in the series.
13-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €61,646
Net result €61,646 after one loss-making year.
31-12
Financial
Equity above €1mEq €1.0m ▲6.4%
Equity rises from €970,318 to €1.0m.
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
08-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €22,605
Net result €22,605 after 2 loss-making years.
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
09-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Brussel · 1 establishment unit since 1987
Ground area
231 m²
Building footprint
233 m²
Volume, LiDAR
2,594 m³
Parcel 21811M0606/00D000, Brussels · tallest building 20.8 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
NAEST
since 19872.031.004.014
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21811M0606/00D000 | Brussels | 231 m² | 1 · 233 m² | 20.8 m · 3 fl. |
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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2021 list no shareholders, and no other source names one.
Holdings 1
-
99%
According to the 2021 annual accounts of NAEST and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 6,495 companies in sector 47716 we hold annual accounts for 2,439. 940 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded09-09-1987
Fiscal year end31-12
Activities, NACEBEL 2025
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
Contact
E-mail
admin@stijl.be
Phone
+32 477 27 50 27
E-invoicing
Reachable via Peppol
Peppol ID
0208:0431991973
Also
9925:BE0431991973
Registered
31-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.