NCE EXPRESS
ActiveSummary
The computed 12-month bankruptcy probability of NCE EXPRESS is 2.7% (moderate). The 2024 annual accounts show equity of €199k and a net result of €5k. Equity is growing by ~38.2% per year across the filed fiscal years. Its solvency ranks better than 42% of 90 sector peers (fiscal year 2024). The company has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability70▼-8
Solvency52▼-1
Growth78=
Track record100
Bankruptcy probability, 12 months
2.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €10k at 30 days acceptable
Liquidity tight (current ratio 1.13 against 1.19 in 2023; short-term debt: 50.4% and cash: 9% of total assets), and 73.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 53
Relative position
BE, all sectors
reference
Postal and courier activities (NACE 53)
about 277% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 11-07-2025, 20 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
20 d early
2023
21 d early
2022
41 d early
2021
39 d early
2020
50 d early
2019
49 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€199k▲ 2.6%
2023 · €194k
2018: €38klowest in 7 years
2019: €53k▲ +38.9% vs 2018
2020: €71k▲ +33.9% vs 2019
2021: €109k▲ +53.7% vs 2020
2022: €155k▲ +41.6% vs 2021
2023: €194k▲ +25.1% vs 2022
2024: €199k▲ +2.6% vs 2023highest in 7 years
2018 → 2024
Total assets
€748k▲ 7.1%
2023 · €699k
2018: €471k
2019: €441k▼ -6.5% vs 2018
2020: €437k▼ -0.8% vs 2019lowest in 7 years
2021: €507k▲ +15.9% vs 2020
2022: €630k▲ +24.3% vs 2021
2023: €699k▲ +10.9% vs 2022
2024: €748k▲ +7.1% vs 2023highest in 7 years
2018 → 2024
Net result
€5k▼ 89.7%
2023 · €50k
2018: €3klowest in 7 years
2019: €15k▲ +450% vs 2018
2020: €18k▲ +20.8% vs 2019
2021: €38k▲ +112% vs 2020
2022: €65k▲ +69.8% vs 2021highest in 7 years
2023: €50k▼ -23.7% vs 2022
2024: €5k▼ -89.7% vs 2023
2018 → 2024
Working capital
€50k▼ 27.2%
2023 · €69k
2018: €-30klowest in 7 years
2019: €-29k▲ +4.0% vs 2018
2020: €-27k▲ +8.0% vs 2019
2021: €2k▲ +106% vs 2020
2022: €47k▲ +2708% vs 2021
2023: €69k▲ +47.0% vs 2022highest in 7 years
2024: €50k▼ -27.2% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€71k-€109k▲ 53.7%€155k▲ 41.6%€194k▲ 25.1%€199k▲ 2.6%
2020: €71klowest in 5 years
2021: €109k▲ +53.7% vs 2020
2022: €155k▲ +41.6% vs 2021
2023: €194k▲ +25.1% vs 2022
2024: €199k▲ +2.6% vs 2023highest in 5 years
Operating result€33k-€60k▲ 81.7%€96k▲ 59.2%€81k▼ 15.6%€24k▼ 70.7%
2020: €33k
2021: €60k▲ +81.7% vs 2020
2022: €96k▲ +59.2% vs 2021highest in 5 years
2023: €81k▼ -15.6% vs 2022
2024: €24k▼ -70.7% vs 2023lowest in 5 years
Net result€18k-€38k▲ 112%€65k▲ 69.8%€50k▼ 23.7%€5k▼ 89.7%
2020: €18k
2021: €38k▲ +112% vs 2020
2022: €65k▲ +69.8% vs 2021highest in 5 years
2023: €50k▼ -23.7% vs 2022
2024: €5k▼ -89.7% vs 2023lowest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 71% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €748k
Fixed assets
€321k ▲ 19.6%
Current assets
€427k ▼ 0.8%
Equity and liabilities €748k
Equity
€199k ▲ 2.6%
Debt
€549k ▲ 8.8%
Debt's share of the balance-sheet total rises from 72.3% to 73.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€118k▼
2023 · €174k
Cash flow
€99k▼
2023 · €142k
Current ratio
1.13▼
2023 · 1.19
Debt to equity
2.76▲
2023 · 2.61
ROE
2.6%▼
2023 · 25.6%
ROA
0.7%▼
2023 · 7.1%
Interest coverage
7.11▼
2023 · 12.67
Debt ≤ 1 year
€377k▲
2023 · €361k
Debt > 1 year
€173k▲
2023 · €144k
Income taxes
€3k▼
2023 · €19k
Staff costs
€560k▲
2023 · €507k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 55 lines
Balance sheet
Code20232024
Assets
Total assets20/58€699k€748k▲
Fixed assets21/28€268k€321k▲
Tangible fixed assets22/27€267k€319k▲
Land and buildings22€135k€123k▼
Plant, machinery and equipment23€3k€11k▲
Furniture and vehicles24€126k€183k▲
Other tangible fixed assets26€2k€2k▼
Financial fixed assets28€2k€2k▲
Current assets29/58€430k€427k▼
Amounts receivable after more than one year29€35k€31k▼
Other amounts receivable291€35k€31k▼
Amounts receivable within one year40/41€265k€281k▲
Trade receivables40€264k€271k▲
Other amounts receivable41€1k€10k▲
Cash at bank and in hand54/58€113k€67k▼
Deferred charges and accrued income490/1€17k€47k▲
Equity and liabilities
Total equity and liabilities10/49€699k€748k▲
Equity10/15€194k€199k▲
Contributions10/11€6k€6k=
Reserves13€187k€192k▲
Distributable reserves133€187k€192k▲
Amounts payable17/49€505k€549k▲
Amounts payable after more than one year17€144k€173k▲
Financial debts170/4€144k€173k▲
Amounts payable within one year42/48€361k€377k▲
Current portion of amounts payable after more than one year42€86k€112k▲
Trade debts44€133k€165k▲
Suppliers440/4€133k€165k▲
Advances received on contracts in progress46€65€424▲
Taxes, remuneration and social security45€128k€99k▼
Taxes450/3€69k€35k▼
Remuneration and social security454/9€59k€64k▲
Other amounts payable47/48€14k€813▼
Income statement
Code20232024
Non-recurring operating income76A€6k€2k▼
Remuneration, social security and pensions62€507k€560k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€93k€94k▲
Other operating charges640/8€19k€24k▲
Non-recurring operating charges66A€2k€3k▲
Gross operating margin9900€702k€705k▲
Operating profit (loss)9901€81k€24k▼
Financial income75/76B€902€460▼
Recurring financial income75€902€460▼
Financial charges65/66B€14k€17k▲
Recurring financial charges65€14k€17k▲
Profit (loss) for the period before taxes9903€68k€8k▼
Income taxes67/77€19k€3k▼
Profit (loss) for the period9904€50k€5k▼
Profit (loss) for the period to be appropriated9905€50k€5k▼
Appropriation of the result
Profit (loss) to be appropriated9906€50k€5k▼
Transfer from equity791/2€13k-
Transfer to equity691/2€51k€5k▼
To other reserves6921€51k€5k▼
Profit to be distributed694/7€11k-
Return on contributions (dividend)694€11k-
Social balance
Average headcount (FTE)90879.910.9▲
The notes to these accounts (23 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €3k | €7k | €6k | €2k | ▼ 75.5% |
| Remuneration, social security and pensions62 | - | €259k | €347k | €507k | €560k | ▲ 10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €42k | €50k | €60k | €93k | €94k | ▲ 1.2% |
| Other operating charges640/8 | - | €15k | €16k | €19k | €24k | ▲ 25.0% |
| Non-recurring operating charges66A | - | - | - | €2k | €3k | ▲ 64.7% |
| Gross operating margin9900 | €310k | €384k | €518k | €702k | €705k | ▲ 0.4% |
| Operating profit (loss)9901 | €33k | €60k | €96k | €81k | €24k | ▼ 70.7% |
| Financial income75/76B | - | €33 | €882 | €902 | €460 | ▼ 49.1% |
| Recurring financial income75 | €84 | €33 | €882 | €902 | €460 | ▼ 49.1% |
| Financial charges65/66B | - | €8k | €12k | €14k | €17k | ▲ 20.4% |
| Recurring financial charges65 | €8k | €8k | €12k | €14k | €17k | ▲ 20.4% |
| Profit (loss) for the period before taxes9903 | €25k | €52k | €85k | €68k | €8k | ▼ 88.8% |
| Income taxes67/77 | €7k | €14k | €20k | €19k | €3k | ▼ 86.2% |
| Profit (loss) for the period9904 | €18k | €38k | €65k | €50k | €5k | ▼ 89.7% |
| Profit (loss) for the period to be appropriated9905 | €18k | €38k | €65k | €50k | €5k | ▼ 89.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €437k | €507k | €630k | €699k | €748k | ▲ 7.1% |
| Fixed assets21/28 | €219k | €231k | €294k | €268k | €321k | ▲ 19.6% |
| Intangible fixed assets21 | €2k | €1k | €365 | - | - | - |
| Tangible fixed assets22/27 | €214k | €227k | €292k | €267k | €319k | ▲ 19.5% |
| Land and buildings22 | - | €159k | €147k | €135k | €123k | ▼ 8.8% |
| Plant, machinery and equipment23 | - | €95 | - | €3k | €11k | ▲ 219% |
| Furniture and vehicles24 | - | €67k | €143k | €126k | €183k | ▲ 45.2% |
| Other tangible fixed assets26 | - | - | €2k | €2k | €2k | ▼ 22.2% |
| Financial fixed assets28 | €3k | €3k | €2k | €2k | €2k | ▲ 42.7% |
| Current assets29/58 | €219k | €275k | €336k | €430k | €427k | ▼ 0.8% |
| Amounts receivable after more than one year29 | - | €51k | €51k | €35k | €31k | ▼ 11.4% |
| Other amounts receivable291 | - | €51k | €51k | €35k | €31k | ▼ 11.4% |
| Amounts receivable within one year40/41 | €182k | €202k | €248k | €265k | €281k | ▲ 6.2% |
| Trade receivables40 | - | €201k | €248k | €264k | €271k | ▲ 2.8% |
| Other amounts receivable41 | - | €897 | €22 | €1k | €10k | ▲ 758% |
| Cash at bank and in hand54/58 | €10k | €12k | €24k | €113k | €67k | ▼ 40.8% |
| Deferred charges and accrued income490/1 | - | €11k | €13k | €17k | €47k | ▲ 180% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €437k | €507k | €630k | €699k | €748k | ▲ 7.1% |
| Equity10/15 | €71k | €109k | €155k | €194k | €199k | ▲ 2.6% |
| Contributions10/11 | - | €6k | €6k | €6k | €6k | = |
| Reserves13 | €65k | €103k | €149k | €187k | €192k | ▲ 2.7% |
| Non-distributable reserves130/1 | - | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | - | - | - |
| Distributable reserves133 | - | €101k | €147k | €187k | €192k | ▲ 2.7% |
| Amounts payable17/49 | €366k | €398k | €475k | €505k | €549k | ▲ 8.8% |
| Amounts payable after more than one year17 | €121k | €124k | €162k | €144k | €173k | ▲ 20.0% |
| Financial debts170/4 | - | €124k | €162k | €144k | €173k | ▲ 20.0% |
| Amounts payable within one year42/48 | €245k | €274k | €289k | €361k | €377k | ▲ 4.3% |
| Current portion of amounts payable after more than one year42 | - | €57k | €78k | €86k | €112k | ▲ 29.1% |
| Financial debts43 | - | €15k | - | - | - | - |
| Credit institutions430/8 | - | €15k | - | - | - | - |
| Trade debts44 | €94k | €134k | €121k | €133k | €165k | ▲ 23.9% |
| Suppliers440/4 | - | €134k | €121k | €133k | €165k | ▲ 23.9% |
| Advances received on contracts in progress46 | - | - | - | €65 | €424 | ▲ 557% |
| Taxes, remuneration and social security45 | - | €68k | €90k | €128k | €99k | ▼ 22.4% |
| Taxes450/3 | - | €41k | €60k | €69k | €35k | ▼ 49.8% |
| Remuneration and social security454/9 | - | €27k | €30k | €59k | €64k | ▲ 10.1% |
| Other amounts payable47/48 | - | €750 | - | €14k | €813 | ▼ 94.1% |
| Accrued charges and deferred income492/3 | - | - | €24k | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18k | €38k | €65k | €50k | €5k | ▼ 89.7% |
| + Depreciation and write-downs630 | €42k | €50k | €60k | €93k | €94k | ▲ 1.2% |
| Operating cash flow (approximation) | €60k | €88k | €125k | €142k | €99k | ▼ 30.5% |
| Investment in fixed assets (approximation) | - | €-62k | €-123k | €-67k | €-146k | ▼ 118% |
| Change in cash | - | €2k | €12k | €89k | €-46k | ▼ 152% |
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
2025
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €65k ▲69.8%
Operating result €96k, net result €65k, both a record.
31-12
Financial
Equity above €150kEq €155k ▲41.6%
5 profitable years in a row build equity to €155k.
22-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €100kEq €109k ▲53.7%
4 profitable years in a row build equity to €109k.
11-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
12-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
26-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 29 days late
2016
30-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
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, Dendermonde · 2 establishment units since 2013
Ground area
2,988 m²
Building footprint
333 m²
Volume, LiDAR
1,128 m³
2 parcels, Flanders · tallest building 11.7 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
NCE EXPRESS
since 20132.220.187.270
NCE EXPRESS
since 20242.360.691.671
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42021B0169/00B002 | Flanders | 1,676 m² | 1 · 117 m² | 11.7 m · 3 fl. |
| 42021C0248/00D003 | Flanders | 1,312 m² | 1 · 215 m² | 1.4 m |
Linked by address, not proof of ownership
Good to know
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
2025 · 1 entry · 53 EUR awarded · 53 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 53 EUR | 53 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Parcel delivery
Notified to the BIPT
Similar companies · same sector, comparable size
SAMEX TRADE
BE 0831.297.324
Kortrijk · Eq €199k
ASMA
BE 0849.731.876
Antwerpen · Eq €198k
B.R. TRANSPORTS
BE 0474.139.859
Waterloo · Eq €200k
WEKT
BE 0731.660.508
Courcelles · Eq €201k
C TRANS
BE 0806.565.193
Genk · Eq €196k
Of 4,906 companies in sector 53200 we hold annual accounts for 1,322. 910 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded20-06-2013
Fiscal year end31-12
Activities, NACEBEL 2025
53200Other postal and courier activities
49410Freight transport by road
74201Photography, excluding press photography
Scores and ratios are computed by Checked and are not a credit decision.