NAGA
ActiveSummary
NAGA has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €28,558 and a net result of -€20,187. Equity is shrinking by ~9.2% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-13
Solvency60▼-13
Growth55▼-17
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days only on tighter terms
Liquidity short (current ratio 0.49 against 0.84 in 2024; short-term debt: 65.1% and cash: 0.4% of total assets), and 65.1% of the assets are financed with debt.
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Signals
Seven 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 · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
34.9%
Return on assets
-24.7%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€20,187
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
5 d late
2023
27 d late
2022
29 d late
2021
31 d late
2020
31 d late
2019
88 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 35 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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. Usually files around 29 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€0▼ 100%
2021 · €12,000
EBIT margin
75.5%▲ 118.4pp
2020 · -42.9%
Net result
-€20,187▼ 300%
2024 · -€5,051
Working capital
-€27,096▼ 210%
2024 · -€8,744
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€12,000▲ 116%€0
Operating result€9,061-€18,972-€7,196▲ 62.1%-€3,976▲ 44.7%-€19,905▼ 401%
Net result€9,015-€19,128-€7,356▲ 61.5%-€5,051▲ 31.3%-€20,187▼ 300%
EBIT margin75.5%▲ 118.4pp
Equity€80,279▲ 12.7%€61,151▼ 23.8%€53,795▼ 12.0%€48,744▼ 9.4%€28,558▼ 41.4%
Total assets€83,274▲ 11.1%€78,012▼ 6.3%€113,381▲ 45.3%€101,867▼ 10.2%€81,792▼ 19.7%
Debt€2,994▼ 19.1%€16,861▲ 463%€59,585▲ 253%€53,122▼ 10.8%€53,234▲ 0.2%
Working capital€75,220▲ 16.6%€74,028▼ 1.6%-€7,214-€8,744▼ 21.2%-€27,096▼ 210%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €19,905 in 2025 against €3,976 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €81,792
Fixed assets
€55,654 ▼ 3.2%
Current assets
€26,138 ▼ 41.1%
Equity and liabilities €81,792
Equity
€28,558 ▼ 41.4%
Debt
€53,234 ▲ 0.2%
Debt's share of the balance-sheet total rises from 52.1% to 65.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€18,070▼
2024 · -€455
Cash flow
-€18,352▼
2024 · -€1,530
Current ratio
0.49▼
2024 · 0.84
Debt to equity
1.86▲
2024 · 1.09
ROE
-70.7%▼
2024 · -10.4%
ROA
-24.7%▼
2024 · -5.0%
Interest coverage
-64.17▼
2024 · -0.42
Debt ≤ 1 year
€53,234▲
2024 · €53,122
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,836 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
1.5%
went bankrupt
13%
stopped otherwise
84%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.4% 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 497,662 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% | 1.7% |
| 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 75% 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 5,836 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €12,000 | - | - | €0 | - | - |
| Goods, raw materials, services and sundry goods60/61 | €813 | €17,286 | €3,675 | €370 | €1,540 | ▲ 316% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,686 | €1,686 | €3,521 | €3,521 | €1,835 | ▼ 47.9% |
| Other operating charges640/8 | €440 | - | - | €85 | €596 | ▲ 601% |
| Non-recurring operating charges66A | - | - | - | - | €15,934 | - |
| Gross operating margin9900 | €11,187 | -€17,286 | -€3,675 | -€370 | -€1,540 | ▼ 316% |
| Operating profit (loss)9901 | €9,061 | -€18,972 | -€7,196 | -€3,976 | -€19,905 | ▼ 401% |
| Financial charges65/66B | €46 | €155 | €160 | €1,075 | €282 | ▼ 73.8% |
| Recurring financial charges65 | €46 | €155 | €160 | €1,075 | €282 | ▼ 73.8% |
| Profit (loss) for the period before taxes9903 | €9,015 | -€19,128 | -€7,356 | -€5,051 | -€20,187 | ▼ 300% |
| Profit (loss) for the period9904 | €9,015 | -€19,128 | -€7,356 | -€5,051 | -€20,187 | ▼ 300% |
| Profit (loss) for the period to be appropriated9905 | €9,015 | -€19,128 | -€7,356 | -€5,051 | -€20,187 | ▼ 300% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €83,274 | €78,012 | €113,381 | €101,867 | €81,792 | ▼ 19.7% |
| Formation expenses20 | €0 | €0 | €0 | €0 | €0 | - |
| Fixed assets21/28 | €5,059 | €3,373 | €61,010 | €57,489 | €55,654 | ▼ 3.2% |
| Intangible fixed assets21 | €0 | €0 | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €5,059 | €3,373 | €61,010 | €57,489 | €55,654 | ▼ 3.2% |
| Land and buildings22 | - | - | €59,323 | €57,489 | €55,654 | ▼ 3.2% |
| Plant, machinery and equipment23 | €5,059 | €3,373 | €1,686 | €0 | €0 | - |
| Current assets29/58 | €78,214 | €74,639 | €52,371 | €44,378 | €26,138 | ▼ 41.1% |
| Amounts receivable within one year40/41 | €53,207 | €51,707 | €41,743 | €41,707 | €25,773 | ▼ 38.2% |
| Trade receivables40 | €49,409 | €47,909 | €37,909 | €37,909 | €25,773 | ▼ 32.0% |
| Other amounts receivable41 | €3,798 | €3,798 | €3,834 | €3,798 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €25,007 | €22,932 | €10,628 | €2,671 | €365 | ▼ 86.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €83,274 | €78,012 | €113,381 | €101,867 | €81,792 | ▼ 19.7% |
| Equity10/15 | €80,279 | €61,151 | €53,795 | €48,744 | €28,558 | ▼ 41.4% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Profit (loss) carried forward14 | €60,279 | €41,151 | €33,795 | €28,744 | €8,558 | ▼ 70.2% |
| Amounts payable17/49 | €2,994 | €16,861 | €59,585 | €53,122 | €53,234 | ▲ 0.2% |
| Amounts payable within one year42/48 | €2,994 | €611 | €59,585 | €53,122 | €53,234 | ▲ 0.2% |
| Financial debts43 | - | - | - | - | €46 | - |
| Credit institutions430/8 | - | - | - | - | €46 | - |
| Trade debts44 | €2,238 | €0 | €412 | €0 | €108 | - |
| Suppliers440/4 | €2,238 | €0 | €412 | €0 | €108 | - |
| Taxes, remuneration and social security45 | €756 | €404 | €0 | €564 | €522 | ▼ 7.5% |
| Taxes450/3 | €756 | €404 | €0 | €564 | €522 | ▼ 7.5% |
| Other amounts payable47/48 | €0 | €207 | €59,173 | €52,558 | €52,558 | = |
| Accrued charges and deferred income492/3 | - | €16,249 | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,015 | -€19,128 | -€7,356 | -€5,051 | -€20,187 | ▼ 300% |
| + Depreciation and write-downs630 | €1,686 | €1,686 | €3,521 | €3,521 | €1,835 | ▼ 47.9% |
| Operating cash flow (approximation) | €10,702 | -€17,441 | -€3,835 | -€1,530 | -€18,352 | ▼ 1,100% |
| Investment in fixed assets (approximation) | - | €0 | -€61,158 | €0 | €0 | - |
| Change in cash | - | -€2,075 | -€12,305 | -€7,957 | -€2,306 | ▲ 71.0% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet -€20,187
Net result drops to -€20,187, the lowest in the series.
05-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 5 days late
2024
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 27 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
31-12
Financial
Liquidity times 5current ratio 122.07
Current ratio from 26.12 to 122.07; short-term debt falls from €2,994 to €611.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Back to profitnet €9,015
Net result €9,015 after 3 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Liquidity times 7current ratio 18.42
Current ratio from 2.57 to 18.42; short-term debt falls from €41,607 to €3,703.
27-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 88 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
21-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 82 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Liège · 2 establishment units since 1997
Ground area
438 m²
Building footprint
176 m²
Volume, LiDAR
1,808 m³
3 parcels, Brussels, Wallonia · tallest building 17.5 m, ±5 floors. Linked by address, not a title deed.
2 establishment units
Opaallaan 80, 1030 Schaarbeek
since 19972.082.491.119
Rue d'Houffalize 56, 6670 Gouvy
since 20132.219.187.279
3 parcels
Wallonia
2
(66.7%)
Brussels
1
(33.3%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62020B0124/00H004 | Wallonia | 243 m² | 1 · 37 m² | 10.4 m · 3 fl. |
| 21905C0089/00H008 | Brussels | 138 m² | 1 · 103 m² | 17.5 m · 5 fl. |
| 82015A0932/00K000 | Wallonia | 57 m² | 1 · 37 m² | - |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded03-04-1997
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0460352397
Registered
21-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.