NAMOR
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 13-07-2026 at the NBB all 2 filings
Every figure per financial year
The operating result for 2025 is over 3 times that of 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €14,106 | €910 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | €253 | €349 | ▲ 37.9% |
| Other operating charges640/8 | €1,923 | €208 | ▼ 89.2% |
| Gross operating margin9900 | €5,317 | €10,133 | ▲ 90.6% |
| Operating profit (loss)9901 | €3,141 | €9,576 | ▲ 205% |
| Financial charges65/66B | €1,041 | €2,349 | ▲ 126% |
| Recurring financial charges65 | €1,041 | €2,349 | ▲ 126% |
| Profit (loss) for the period before taxes9903 | €2,100 | €7,227 | ▲ 244% |
| Profit (loss) for the period9904 | €2,100 | €7,227 | ▲ 244% |
| Profit (loss) for the period to be appropriated9905 | €2,100 | €7,227 | ▲ 244% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €217,181 | €210,722 | ▼ 3.0% |
| Fixed assets21/28 | €14,106 | €15,016 | ▲ 6.5% |
| Tangible fixed assets22/27 | €14,106 | €15,016 | ▲ 6.5% |
| Plant, machinery and equipment23 | €13,266 | €14,176 | ▲ 6.9% |
| Furniture and vehicles24 | €840 | €840 | = |
| Current assets29/58 | €203,075 | €195,706 | ▼ 3.6% |
| Stocks and contracts in progress3 | €202,451 | €187,000 | ▼ 7.6% |
| Stocks30/36 | €202,451 | €187,000 | ▼ 7.6% |
| Amounts receivable within one year40/41 | €283 | €5,707 | ▲ 20× |
| Trade receivables40 | €283 | - | - |
| Other amounts receivable41 | - | €5,707 | - |
| Cash at bank and in hand54/58 | €341 | €2,999 | ▲ 779% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €217,181 | €210,722 | ▼ 3.0% |
| Equity10/15 | €72,100 | €79,327 | ▲ 10.0% |
| Contributions10/11 | €70,000 | €70,000 | = |
| Profit (loss) carried forward14 | €2,100 | €9,327 | ▲ 344% |
| Amounts payable17/49 | €145,081 | €131,395 | ▼ 9.4% |
| Amounts payable within one year42/48 | €145,081 | €131,395 | ▼ 9.4% |
| Trade debts44 | €95,412 | €60,311 | ▼ 36.8% |
| Suppliers440/4 | €95,412 | €60,311 | ▼ 36.8% |
| Taxes, remuneration and social security45 | €5,447 | €26,863 | ▲ 393% |
| Taxes450/3 | €5,447 | €15,685 | ▲ 188% |
| Remuneration and social security454/9 | - | €11,178 | - |
| Other amounts payable47/48 | €44,222 | €44,221 | = |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €2,100 | €7,227 | ▲ 244% |
| Operating cash flow (approximation) | €2,100 | €7,227 | ▲ 244% |
| Investment in fixed assets (approximation) | - | -€910 | - |
| Change in cash | - | €2,658 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 2,546 companies had the same profile as NAMOR has now. Two years later, 94.3% were still going and 2.3% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of NAMOR itself: 1.9% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,546 companies, not a prediction for NAMOR. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.