Checked.be
Active
BE 0459.914.711Private limited company
NARDI
Rue de la Spinette, Boig. 35 ·5140 Sombreffe, Belgium· 29 yrs active
Sector: Manufacture of other non-metallic mineral products
(23630)
Conclusion
NARDI has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €155k and a net result of €16k. Equity is growing by ~23.2% per year across the filed fiscal years. Its solvency ranks better than 63% of 334 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €155k |
| Net result | €16k |
| Better than sector | 63% |
| Active | 29 yrs |
Financial profile
78
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
90
Profitability
50
Solvency
97
Growth
52
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1997, 29 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
90
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€14k
estimate, not credit advice
Score history
56
2021
100
2022
93
2023
100
2024
90
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.93 (≥ 1.5)
+10
Quick ratio
Quick ratio 1.93 (≥ 1.0)
+5
Leverage
Debt/equity 0.60 (< 1.0)
+10
Profitability
ROE 10% (≥ 10%)
+10
Interest coverage
Interest coverage 67.9× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 31-08-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~23.2%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 23, Manufacture of other non-metallic mineral products · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 62.7% | 48.8% | |
| Net result | €16k | €6k | |
| Equity | €155k | €77k | |
| Gross operating margin | €41k | €40k | |
| Total assets | €247k | €214k |
€38k
-48.8%
21-25
€16k
-51.2%
21-25
€32k
-50.3%
21-25
€247k
+0.3%
21-25
€155k
-4.7%
21-25
€83k
0.0%
21-25
€5k
-44.7%
21-25
€20k
-
21-25
€92k
+10.1%
21-25
€89k
+39.0%
21-25
€3k
-83.2%
21-25
1.93
-15.8%
21-25
1.93
-15.8%
21-25
62.7%
-5.0%
21-25
0.60
+15.6%
21-25
10.1%
-48.8%
21-25
6.3%
-51.3%
21-25
67.85
-95.3%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | full schema | full schema | full schema | full schema |
| Revenue | - | - | - | - | - |
| EBITDA | €38k | €74k | €71k | €82k | €46k |
| Net profit | €16k | €32k | €30k | €32k | €20k |
| Cash flow | €32k | €64k | €58k | €71k | €39k |
| Staff costs | - | - | - | - | - |
| Income taxes | €5k | €10k | €13k | €11k | €7k |
| Dividends | - | - | - | - | €20k |
| Total assets | €247k | €247k | €201k | €175k | €161k |
| Equity | €155k | €163k | €131k | €101k | €69k |
| Debt | €92k | €84k | €70k | €74k | €92k |
| of which ≤ 1y | €89k | €64k | €50k | €54k | €72k |
| of which > 1y | €3k | €20k | €20k | €20k | €20k |
| Working capital | €83k | €83k | €48k | €32k | €-35k |
| Employees (FTE) | - | - | - | - | - |
Note: these years are not on the same basis. The filed schemas differ (micro schema, full schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 1.93 | 2.29 | 1.95 | 1.59 | 0.52 |
| Quick ratio | 1.93 | 2.29 | 1.95 | 1.59 | 0.52 |
| Working capital ratio | 33.4% | 33.6% | 23.8% | 18.3% | -21.7% |
| Solvency | 62.7% | 66.0% | 65.0% | 57.8% | 42.8% |
| Debt / equity | 0.60 | 0.52 | 0.54 | 0.73 | 1.33 |
| Long-term debt ratio | 0.02 | 0.12 | 0.15 | 0.20 | 0.29 |
| Interest coverage | 67.85 | 1430.37 | 1422.61 | 411.15 | 146.57 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 6.3% | 13.0% | 14.8% | 18.4% | 12.7% |
| ROE | 10.1% | 19.7% | 22.7% | 31.8% | 29.7% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (25 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €247k | €247k | €201k | €175k | €161k |
| Fixed assets | 21/28 | €76k | €109k | €103k | €89k | €124k |
| Tangible fixed assets | 22/27 | €73k | €106k | €100k | €86k | €121k |
| Financial fixed assets | 28 | €3k | €3k | €3k | €3k | €3k |
| Current assets | 29/58 | €172k | €147k | €98k | €86k | €37k |
| Amounts receivable within one year | 40/41 | €157k | €137k | €83k | €67k | €19k |
| Investments | 50/53 | €15k | - | - | - | - |
| Cash & bank | 54/58 | - | €10k | €15k | €19k | €18k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €247k | €247k | €201k | €175k | €161k |
| Equity | 10/15 | €155k | €163k | €131k | €101k | €69k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k | €19k |
| Reserves | 13 | €15k | €15k | €15k | €15k | €15k |
| Accumulated profits (losses) | 14 | €122k | €129k | €97k | €68k | €35k |
| Amounts payable | 17/49 | €92k | €84k | €70k | €74k | €92k |
| Amounts payable after one year | 17 | €3k | €20k | €20k | €20k | €20k |
| Amounts payable within one year | 42/48 | €89k | €64k | €50k | €54k | €72k |
| Trade debts payable within one year | 44 | €3k | €11k | €622 | €41 | €128 |
| Income statement | ||||||
| Gross operating margin | 9900 | €41k | €78k | €78k | €87k | €50k |
| Operating result | 9901 | €22k | €42k | €43k | €43k | €27k |
| Financial income | 75 | - | - | - | - | €302 |
| Financial charges | 65 | €556 | €52 | €50 | €198 | €312 |
| Result before taxes | 9903 | €21k | €42k | €43k | €43k | €27k |
| Income taxes | 67/77 | €5k | €10k | €13k | €11k | €7k |
| Net result for the period | 9904 | €16k | €32k | €30k | €32k | €20k |
| Result to be appropriated | 9905 | €16k | €32k | €30k | €32k | €20k |
Legal Structure
| NACE primary | Manufacture of other non-metallic mineral products(23630) |
| Legal form | Private limited company(610) |
| Incorporation | 29-01-1997 |
| Status | Active |
| Postal code | 5140 |
Establishment units
NARDI
since 19972.080.466.886
Real-estate footprint
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92313D0113/00X002 | Wallonia | 2,500 m² | 1 · 719 m² | - |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
17-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €16k ▼51.2%
Net result drops to €16k, the lowest in the series.
25-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Equity above €150kEq €163k ▲24.5%
4 profitable years in a row build equity to €163k.
23-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 23 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 28 days late
2022
31-12
Financial
Highest result since 2021net €32k ▲56.9%
Net result €32k, the highest in the series.
31-12
Financial
Liquidity triplescurrent ratio 1.59
Current ratio from 0.52 to 1.59; short-term debt falls from €72k to €54k.
31-12
Financial
Equity above €100kEq €101k ▲46.6%
2 profitable years in a row build equity to €101k.
17-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
12-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
14-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 14 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
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.
Credit advice
Company registry (CBE)
Activities
Manufacture of other non-metallic mineral products23630Cutting, shaping and finishing of stone2370026700Other specialised construction activities43990Specialised construction activities43999Wholesale trade46839Retail trade4752952461
Names & trade names
| Legal nameFR | NARDI |
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