NARVIFLEX
ActiveNARVIFLEX has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €9.82M and a net result of €1.22M. Equity is growing by ~8.2% per year across the filed fiscal years. Its solvency ranks better than 35% of 309 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
75
/ 100
Excellent▼ -8 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability48▼-10
Solvency52▼-1
Growth53=
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €750k at 30 days acceptable
Liquidity tight (current ratio 1.23 against 1.29 in 2024), and 69.8% of the assets are financed with debt.
Credit advice for your own amount and term
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
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
30.2%
Return on assets
3.8%
Age of the figures
8 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 11-06-2026, 50 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
50 d early
2024
20 d early
2023
27 d early
2022
32 d early
2021
47 d early
2020
24 d early
2019
50 d early
← before the deadline
after the deadline →
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
13-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€36.57M▲ 6.0%
2024 · €34.51M
2018: €24.46M
2019: €25.73M
2020: €25.74M
2021: €27.68M
2022: €32.19M
2023: €32.84M
2024: €34.51M
2018 → 2025
EBIT margin
5.9%▼ 1.4pp
2024 · 7.4%
2018: 8.1%
2019: 10.9%
2020: 9.7%
2021: 10.3%
2022: 10.9%
2023: 6.1%
2024: 7.4%
2018 → 2025
Net result
€1.22M▼ 17.0%
2024 · €1.47M
2018: €1.59M
2019: €1.93M
2020: €1.79M
2021: €2.11M
2022: €2.40M
2023: €1.14M
2024: €1.47M
2018 → 2025
Working capital
€2.78M▼ 9.5%
2024 · €3.08M
2018: €4.34M
2019: €5.50M
2020: €3.03M
2021: €5.36M
2022: €2.82M
2023: €4.69M
2024: €3.08M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€27.68M-€32.19M▲ 16.3%€32.84M▲ 2.0%€34.51M▲ 5.1%€36.57M▲ 6.0%
Equity€6.78M-€6.88M▲ 1.4%€7.72M▲ 12.3%€8.90M▲ 15.2%€9.82M▲ 10.4%
Operating result€2.84M-€3.49M▲ 22.9%€2.02M▼ 42.2%€2.54M▲ 25.7%€2.17M▼ 14.6%
Net result€2.11M-€2.40M▲ 13.6%€1.14M▼ 52.3%€1.47M▲ 28.8%€1.22M▼ 17.0%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 15% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €32.56M
Fixed assets
€17.41M▲ 4.7%
Current assets
€15.15M▲ 12.2%
Equity and liabilities €32.56M
Equity
€9.82M▲ 10.4%
Provisions
€100k
Debt
€22.64M▲ 6.6%
The debt ratio falls from 70.5% to 69.5%: equity grows faster than debt.
Key figures and ratios
EBITDA
€2.82M▼
2024 · €3.15M
Cash flow
€1.88M▼
2024 · €2.08M
Solvency
30.2%▲
2024 · 29.5%
Current ratio
1.23▼
2024 · 1.29
Quick ratio
0.86▼
2024 · 0.89
Debt / equity
2.31▼
2024 · 2.39
ROE
12.4%▼
2024 · 16.6%
ROA
3.8%▼
2024 · 4.9%
Interest coverage
4.44▲
2024 · 3.59
Debt
€22.64M▲
2024 · €21.23M
Debt ≤ 1 year
€12.36M▲
2024 · €10.43M
Debt > 1 year
€10.20M▼
2024 · €10.67M
Income taxes
€328k▼
2024 · €411k
Staff costs
€11.59M▲
2024 · €10.89M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€30.13M€32.56M▲
Fixed assets21/28€16.63M€17.41M▲
Tangible fixed assets22/27€1.49M€1.35M▼
Land and buildings22€272k€226k▼
Plant, machinery and equipment23€311k€270k▼
Furniture and vehicles24€116k€166k▲
Leasing and similar rights25€617k€550k▼
Other tangible fixed assets26€175k€139k▼
Financial fixed assets28€15.13M€16.06M▲
Affiliated companies280/1€15.12M€16.05M▲
Participating interests280€14.37M€15.37M▲
Amounts receivable281€750k€680k▼
Other financial fixed assets284/8€10k€10k=
Amounts receivable and cash guarantees285/8€10k€10k=
Current assets29/58€13.51M€15.15M▲
Stocks and contracts in progress3€4.22M€4.51M▲
Stocks30/36€4.22M€4.51M▲
Goods purchased for resale34€4.22M€4.51M▲
Amounts receivable within one year40/41€8.64M€7.76M▼
Trade receivables40€8.22M€6.74M▼
Other amounts receivable41€430k€1.01M▲
Cash at bank and in hand54/58€529k€2.76M▲
Deferred charges and accrued income490/1€109k€128k▲
Equity and liabilities
Total equity and liabilities10/49€30.13M€32.56M▲
Equity10/15€8.90M€9.82M▲
Contributions10/11€124k€124k=
Capital10€124k€124k=
Issued capital100€124k€124k=
Reserves13€8.77M€9.70M▲
Non-distributable reserves130/1€12k€12k=
Legal reserve130€12k€12k=
Distributable reserves133€8.76M€9.68M▲
Provisions and deferred taxes16-€100k
Provisions for liabilities and charges160/5-€100k
Other liabilities and charges164/5-€100k
Amounts payable17/49€21.23M€22.64M▲
Amounts payable after more than one year17€10.67M€10.20M▼
Financial debts170/4€10.67M€10.20M▼
Subordinated loans170-€1.03M
Leasing and similar obligations172€380k€249k▼
Credit institutions173€8.51M€7.52M▼
Other loans174€1.78M€1.40M▼
Amounts payable within one year42/48€10.43M€12.36M▲
Current portion of amounts payable after more than one year42€1.92M€1.31M▼
Financial debts43€2.20M€1.19M▼
Credit institutions430/8€2.20M€1.19M▼
Trade debts44€2.86M€3.47M▲
Suppliers440/4€2.86M€3.47M▲
Taxes, remuneration and social security45€2.54M€2.51M▼
Taxes450/3€790k€654k▼
Remuneration and social security454/9€1.75M€1.86M▲
Other amounts payable47/48€916k€3.89M▲
Accrued charges and deferred income492/3€130k€81k▼
Income statement
Code20242025
Operating income70/76A€35.42M€37.43M▲
Turnover70€34.51M€36.57M▲
Other operating income74€898k€826k▼
Non-recurring operating income76A€16k€35k▲
Operating charges60/66A€32.88M€35.26M▲
Goods for resale, raw materials and consumables60€14.44M€15.37M▲
Purchases600/8€14.13M€15.65M▲
Change in stocks: decrease (increase)609€316k€-283k▼
Services and other goods61€6.86M€7.39M▲
Remuneration, social security and pensions62€10.89M€11.59M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€610k€653k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€56k€-2k▼
Other operating charges640/8€25k€116k▲
Non-recurring operating charges66A€739€135k▲
Operating profit (loss)9901€2.54M€2.17M▼
Financial income75/76B€266k€136k▼
Recurring financial income75€266k€136k▼
Income from financial fixed assets750€175k€38▼
Income from current assets751€58k€33k▼
Other financial income752/9€32k€104k▲
Financial charges65/66B€920k€753k▼
Recurring financial charges65€920k€753k▼
Debt charges650€876k€635k▼
Other financial charges652/9€44k€117k▲
Profit (loss) for the period before taxes9903€1.88M€1.55M▼
Income taxes67/77€411k€328k▼
Taxes670/3€438k€363k▼
Tax adjustments and reversals of tax provisions77€26k€35k▲
Profit (loss) for the period9904€1.47M€1.22M▼
Profit (loss) for the period to be appropriated9905€1.47M€1.22M▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.47M€1.22M▼
Transfer to equity691/2€1.17M€923k▼
To other reserves6921€1.17M€923k▼
Profit to be distributed694/7€300k€300k=
Directors or managers695€300k€300k=
Social balance
Average headcount (FTE)9087127.4131.0▲
The notes to these accounts (94 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
11-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet €1.14M ▼52.3%
Net result drops to €1.14M, the lowest in the series; recovery starts the following year.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €2.40M ▲13.6%
Operating result €3.49M, net result €2.40M, both a record.
14-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €5MEq €6.78M ▲36.4%
4 profitable years in a row build equity to €6.78M.
07-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
11-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
19-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
13-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
13-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2021
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
13-03-2021
Resigned as Director
13-03-2021
Resigned as Managing director
Location & real-estate footprint
Registered office, Geel · 2 establishment units since 1994
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Liesdonk 72440 GeelGround area
1.3 ha
Building footprint
3,412 m²
Volume, LiDAR
28,373 m³
2 parcels, Flanders · tallest building 24.9 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
NARVIFLEX
since 19942.069.554.881
Narviflex
since 20102.192.800.212
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44813B0120/02B000 | Flanders | 9,660 m² | 1 · 1,876 m² | 24.9 m · 3 fl. |
| 13375M0014/00B000 | Flanders | 3,564 m² | 1 · 1,536 m² | 9.3 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 6 entries · 25,756 EUR awarded · 24,945 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,183 EUR | 2,183 EUR |
| 2024 | 2 | 3,749 EUR | 3,962 EUR |
| 2023 | 1 | 6,383 EUR | 5,871 EUR |
| 2022 | 2 | 13,441 EUR | 12,929 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Vlaams opleidingsverlof (VOV)
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Of 268 companies in sector 28220 we hold annual accounts for 231. 92 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded21-12-1994
Fiscal year end31-12
Activities, NACEBEL
28220Manufacture of machinery and equipment not elsewhere classified
51872
46649Wholesale of other machinery and equipment
Sources
Crossroads Bank for EnterprisesNational Bank · 31 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.