NAROL
ActiveSummary
NAROL has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€49,969) and a net result of -€18,521. Equity is shrinking by ~28.3% per year across the filed fiscal years. Its solvency ranks better than 5% of 1212 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency0▼-12
Growth32=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.66 against 0.86 in 2024; short-term debt: 149.7% and cash: 6% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 81
Relative position
BE, all sectors
reference
Services to buildings and landscape activities (NACE 81)
about 79% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
-62.2%
Return on assets
-23.1%
Age of the figures
9 mo
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 · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€49,969
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 22-07-2026, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
1 d early
2023
6 d early
2022
10 d late
2021
31 d late
2020
31 d late
2019
31 d late
← 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 12 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 43% 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
-€49,969▼ 58.9%
2024 · -€31,448
Total assets
€80,343▼ 66.3%
2024 · €238,603
Net result
-€18,521▲ 63.0%
2024 · -€50,032
Working capital
-€40,815▼ 8.6%
2024 · -€37,574
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
Operating result-€29,315€11,686€12,800▲ 9.5%-€42,340-€12,763▲ 69.9%
Net result-€30,660€9,427€11,647▲ 23.5%-€50,032-€18,521▲ 63.0%
Equity-€33,003▼ 1,309%-€23,576▲ 28.6%€18,584-€31,448-€49,969▼ 58.9%
Total assets€146,224▼ 13.2%€188,481▲ 28.9%€298,047▲ 58.1%€238,603▼ 19.9%€80,343▼ 66.3%
Debt€179,227▲ 4.9%€212,057▲ 18.3%€279,463▲ 31.8%€270,051▼ 3.4%€130,312▼ 51.7%
Working capital-€58,362▼ 120%-€51,693▲ 11.4%-€2,303▲ 95.5%-€37,574▼ 1,531%-€40,815▼ 8.6%
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 stays negative: a loss of €12,763 in 2025 against €42,340 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €80,343
Fixed assets
€869 ▼ 91.2%
Current assets
€79,474 ▼ 65.2%
Key figures and ratios
EBITDA
-€3,710▲
2024 · -€26,369
Cash flow
-€9,468▲
2024 · -€34,062
Solvency
-62.2%▼
2024 · -13.2%
Current ratio
0.66▼
2024 · 0.86
Debt to equity
-2.61▲
2024 · -8.59
ROA
-23.1%▼
2024 · -21.0%
Interest coverage
-0.45▲
2024 · -3.53
Debt ≤ 1 year
€120,289▼
2024 · €266,255
Income taxes
€0▼
2024 · €219
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,206 | €14,307 | €15,285 | €15,970 | €9,053 | ▼ 43.3% |
| Other operating charges640/8 | €1,375 | €717 | €1,193 | €648 | €159 | ▼ 75.5% |
| Non-recurring operating charges66A | - | €650 | €0 | - | - | - |
| Gross operating margin9900 | -€13,734 | €27,361 | €29,279 | -€25,721 | -€3,551 | ▲ 86.2% |
| Operating profit (loss)9901 | -€29,315 | €11,686 | €12,800 | -€42,340 | -€12,763 | ▲ 69.9% |
| Financial income75/76B | - | - | €6,407 | €4 | €2,416 | ▲ 64,495% |
| Recurring financial income75 | - | - | €6,407 | €4 | €2,416 | ▲ 64,495% |
| Financial charges65/66B | €1,164 | €2,004 | €4,750 | €7,478 | €8,174 | ▲ 9.3% |
| Recurring financial charges65 | €1,164 | €2,004 | €4,750 | €7,478 | €8,174 | ▲ 9.3% |
| Profit (loss) for the period before taxes9903 | -€30,480 | €9,683 | €14,457 | -€49,814 | -€18,521 | ▲ 62.8% |
| Income taxes67/77 | €180 | €256 | €2,811 | €219 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | -€30,660 | €9,427 | €11,647 | -€50,032 | -€18,521 | ▲ 63.0% |
| Profit (loss) for the period to be appropriated9905 | -€30,660 | €9,427 | €11,647 | -€50,032 | -€18,521 | ▲ 63.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €146,224 | €188,481 | €298,047 | €238,603 | €80,343 | ▼ 66.3% |
| Fixed assets21/28 | €50,566 | €37,477 | €23,671 | €9,922 | €869 | ▼ 91.2% |
| Tangible fixed assets22/27 | €50,566 | €37,277 | €23,671 | €9,922 | €869 | ▼ 91.2% |
| Plant, machinery and equipment23 | - | €1,567 | €1,011 | €455 | €0 | ▼ 100% |
| Furniture and vehicles24 | €50,566 | €35,710 | €22,660 | €9,467 | €869 | ▼ 90.8% |
| Financial fixed assets28 | - | €200 | €0 | - | - | - |
| Current assets29/58 | €95,658 | €151,005 | €274,376 | €228,681 | €79,474 | ▼ 65.2% |
| Amounts receivable after more than one year29 | €200 | - | - | - | - | - |
| Trade receivables290 | €200 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €67,169 | €84,157 | €240,137 | €223,496 | €72,584 | ▼ 67.5% |
| Trade receivables40 | €66,926 | €72,427 | €240,137 | €207,914 | €67,003 | ▼ 67.8% |
| Other amounts receivable41 | €244 | €11,730 | €0 | €15,582 | €5,581 | ▼ 64.2% |
| Current investments50/53 | €1 | €1 | €0 | - | - | - |
| Cash at bank and in hand54/58 | €27,891 | €66,847 | €31,424 | €4,707 | €4,839 | ▲ 2.8% |
| Deferred charges and accrued income490/1 | €396 | €0 | €2,815 | €478 | €2,051 | ▲ 329% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €146,224 | €188,481 | €298,047 | €238,603 | €80,343 | ▼ 66.3% |
| Equity10/15 | -€33,003 | -€23,576 | €18,584 | -€31,448 | -€49,969 | ▼ 58.9% |
| Contributions10/11 | €30,987 | €30,987 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | €30,987 | €30,987 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | €30,987 | €30,987 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | €81 | €81 | €1,245 | €1,245 | €1,245 | = |
| Non-distributable reserves130/1 | €81 | €81 | €1,245 | €1,245 | €1,245 | = |
| Legal reserve130 | €81 | €81 | €1,245 | €1,245 | €1,245 | = |
| Profit (loss) carried forward14 | -€64,070 | -€54,643 | -€44,161 | -€94,193 | -€112,714 | ▼ 19.7% |
| Amounts payable17/49 | €179,227 | €212,057 | €279,463 | €270,051 | €130,312 | ▼ 51.7% |
| Amounts payable after more than one year17 | €25,207 | €9,359 | €0 | - | - | - |
| Financial debts170/4 | €25,207 | €9,359 | €0 | - | - | - |
| Amounts payable within one year42/48 | €154,020 | €202,698 | €276,679 | €266,255 | €120,289 | ▼ 54.8% |
| Current portion of amounts payable after more than one year42 | €15,602 | €15,848 | €9,359 | €0 | - | - |
| Financial debts43 | - | - | €54 | €0 | - | - |
| Credit institutions430/8 | - | - | €54 | €0 | - | - |
| Trade debts44 | €14,446 | €1,446 | €19,390 | €11,941 | €10,153 | ▼ 15.0% |
| Suppliers440/4 | €14,446 | €1,446 | €19,390 | €11,941 | €10,153 | ▼ 15.0% |
| Taxes, remuneration and social security45 | €6,365 | €436 | €8,261 | €16,983 | €3,266 | ▼ 80.8% |
| Taxes450/3 | €6,365 | €436 | €8,261 | €16,793 | €3,266 | ▼ 80.6% |
| Remuneration and social security454/9 | - | - | - | €190 | - | - |
| Other amounts payable47/48 | €117,607 | €184,967 | €239,615 | €237,331 | €106,871 | ▼ 55.0% |
| Accrued charges and deferred income492/3 | - | - | €2,784 | €3,796 | €10,023 | ▲ 164% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€30,660 | €9,427 | €11,647 | -€50,032 | -€18,521 | ▲ 63.0% |
| + Depreciation and write-downs630 | €14,206 | €14,307 | €15,285 | €15,970 | €9,053 | ▼ 43.3% |
| Operating cash flow (approximation) | -€16,454 | €23,734 | €26,932 | -€34,062 | -€9,468 | ▲ 72.2% |
| Investment in fixed assets (approximation) | - | -€1,217 | -€1,480 | -€2,221 | €0 | ▲ 100% |
| Change in cash | - | €38,955 | -€35,422 | -€26,717 | €131 | ▲ 100% |
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
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€50,032
Net result drops to -€50,032, the lowest in the series; recovery starts the following year.
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €11,647 ▲23.5%
Operating result €12,800, net result €11,647, both a record.
10-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 10 days late
2022
31-12
Financial
Back to profitnet €9,427
Net result €9,427 after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Back to profitnet €556
Net result €556 after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
21-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 113 days late
2018
25-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 56 days late
2017
28-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 59 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Knokke-Heist · 1 establishment unit since 1992
Ground area
638 m²
Building footprint
166 m²
Volume, LiDAR
1,177 m³
Parcel 31332F0212/00A000, Flanders · tallest building 11.1 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
patrick demeestere
since 19922.058.918.535
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31332F0212/00A000 | Flanders | 638 m² | 1 · 166 m² | 11.1 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.
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Of 1,279 companies in sector 81100 we hold annual accounts for 678. 265 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
Founded19-08-1992
Fiscal year end31-12
Activities, NACEBEL 2025
81100Combined facilities support activities
Scores and ratios are computed by Checked and are not a credit decision.