NCS SHIPPING
ActiveNCS SHIPPING has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.48M and a net result of €26k. Equity is growing by ~9.6% per year across the filed fiscal years. Its solvency ranks better than 66% of 649 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
76
/ 100
Excellent▼ -18 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability9=
Solvency97▼-1
Growth78=
Stability100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110k at 30 days acceptable
Liquidity ample (current ratio 2.2 against 2.48 in 2024), and 46.1% of the assets are financed with debt.
Credit advice for your own amount and term
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 52
Relative position
BE, all sectors
reference
Sector 52
higher
← fewer bankruptcies
more bankruptcies →
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
53.9%
Return on assets
0.9%
Age of the figures
8 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
31 d late
2023
30 d late
2022
61 d late
2021
29 d late
2020
30 d late
2019
1 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
14-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€26k▲ 2.3%
2024 · €25k
2018: €20k
2019: €112k
2020: €-14k
2021: €96k
2022: €448k
2023: €25k
2024: €25k
2018 → 2025
Working capital
€1.45M▼ 8.7%
2024 · €1.59M
2018: €423k
2019: €483k
2020: €402k
2021: €436k
2022: €800k
2023: €967k
2024: €1.59M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€958k-€1.41M▲ 46.8%€1.43M▲ 1.7%€1.46M▲ 1.7%€1.48M▲ 1.8%
Operating result€224k-€643k▲ 188%€127k▼ 80.3%€47k▼ 63.2%€166k▲ 256%
Net result€96k-€448k▲ 367%€25k▼ 94.5%€25k▲ 2.0%€26k▲ 2.3%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 256% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.75M
Fixed assets
€92k▲ 51.9%
Current assets
€2.66M▼ 0.4%
Equity and liabilities €2.75M
Equity
€1.48M▲ 1.8%
Provisions
€60k▼ 67.4%
Debt
€1.21M▲ 10.9%
The debt ratio rises from 39.9% to 44.0%: debt grows faster than equity.
Key figures and ratios
EBITDA
€191k▲
2024 · €75k
Cash flow
€50k▼
2024 · €53k
Solvency
53.9%▲
2024 · 53.3%
Current ratio
2.20▼
2024 · 2.48
Quick ratio
2.20▼
2024 · 2.48
Debt / equity
0.82▲
2024 · 0.75
ROE
1.7%▲
2024 · 1.7%
ROA
0.9%▲
2024 · 0.9%
Interest coverage
1.01▼
2024 · 8.03
Debt
€1.21M▲
2024 · €1.09M
Debt ≤ 1 year
€1.21M▲
2024 · €1.08M
Debt > 1 year
€0▼
2024 · €11k
Income taxes
€2k▼
2024 · €33k
Staff costs
€1.93M▲
2024 · €1.39M
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€2.73M€2.75M▲
Fixed assets21/28€61k€92k▲
Intangible fixed assets21€6k€14k▲
Tangible fixed assets22/27€55k€78k▲
Land and buildings22€1k€759▼
Plant, machinery and equipment23€50k€61k▲
Furniture and vehicles24€4k€17k▲
Leasing and similar rights25€0-
Current assets29/58€2.67M€2.66M▼
Amounts receivable within one year40/41€1.73M€2.16M▲
Trade receivables40€1.02M€1.24M▲
Other amounts receivable41€714k€914k▲
Current investments50/53€750k€0▼
Cash at bank and in hand54/58€164k€480k▲
Deferred charges and accrued income490/1€21k€23k▲
Equity and liabilities
Total equity and liabilities10/49€2.73M€2.75M▲
Equity10/15€1.46M€1.48M▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€1.39M€1.42M▲
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Distributable reserves133€1.39M€1.41M▲
Provisions and deferred taxes16€184k€60k▼
Provisions for liabilities and charges160/5€184k€60k▼
Other liabilities and charges164/5€184k€60k▼
Amounts payable17/49€1.09M€1.21M▲
Amounts payable after more than one year17€11k€0▼
Financial debts170/4€11k€0▼
Amounts payable within one year42/48€1.08M€1.21M▲
Current portion of amounts payable after more than one year42€11k€11k▲
Trade debts44€913k€1.02M▲
Suppliers440/4€913k€1.02M▲
Taxes, remuneration and social security45€154k€171k▲
Taxes450/3€0€4k▲
Remuneration and social security454/9€154k€168k▲
Accrued charges and deferred income492/3-€3k
Income statement
Code20242025
Non-recurring operating income76A€4k€0▼
Remuneration, social security and pensions62€1.39M€1.93M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€28k€25k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€13k€-124k▼
Other operating charges640/8€4k€5k▲
Gross operating margin9900€1.48M€2.00M▲
Operating profit (loss)9901€47k€166k▲
Financial income75/76B€21k€50k▲
Recurring financial income75€21k€50k▲
Financial charges65/66B€9k€188k▲
Recurring financial charges65€9k€188k▲
Profit (loss) for the period before taxes9903€58k€28k▼
Income taxes67/77€33k€2k▼
Profit (loss) for the period9904€25k€26k▲
Profit (loss) for the period to be appropriated9905€25k€26k▲
Appropriation of the result
Profit (loss) to be appropriated9906€25k€26k▲
Transfer to equity691/2€25k€26k▲
To other reserves6921€25k€26k▲
Social balance
Average headcount (FTE)90870.015.9▲
The notes to these accounts (21 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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 31 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 61 days late
2022
31-12
Financial
Highest result since 2018net €448k ▲367%
Operating result €643k, net result €448k, both a record.
31-12
Financial
Equity above €1MEq €1.41M ▲46.8%
2 profitable years in a row build equity to €1.41M.
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 29 days late
2021
31-12
Financial
Back to profitnet €96k
Net result €96k after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
31-12
Financial
Weakest financial yearnet €-14k ▼113%
Net result drops to €-14k, the lowest in the series; recovery starts the following year.
30-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
11-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
13-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 23 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Brugge · 1 establishment unit since 2016
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.
Koggenstraat 308380 BruggeGround area
3,010 m²
Building footprint
291 m²
Volume, LiDAR
2,098 m³
Parcel 31016D0154/00K000, Flanders · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
NCS Shipping
since 20162.255.253.166
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31016D0154/00K000 | Flanders | 3,010 m² | 1 · 291 m² | 8.9 m · 2 fl. |
Linked by address, not proof of ownership
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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 20,054 EUR awarded · 17,515 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 7,475 EUR | 5,333 EUR |
| 2024 | 1 | 6,606 EUR | 9,033 EUR |
| 2023 | 1 | 4,197 EUR | 1,469 EUR |
| 2022 | 1 | 1,776 EUR | 1,680 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Similar companies · same sector, comparable size
La Buena Vida
BE 0453.270.805
Oud-Turnhout · Eq €1.48M
DKM
BE 0880.384.371
Antwerpen · Eq €1.49M
BIERHALLE
BE 0422.231.201
Merelbeke-Melle · Eq €1.47M
KATOEN NATIE WAASLAND
BE 0429.284.881
Beveren-Kruibeke-Zwijndrecht · Eq €1.47M
Transport Kantoor C. Dasbach
BE 0406.696.749
Antwerpen · Eq €1.50M
Of 3,176 companies in sector 52250 we hold annual accounts for 1,944. 1,102 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded13-07-2016
Fiscal year end31-12
Activities, NACEBEL
52250Logistics services
52290Warehousing and support activities for transportation
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesE-mail:koen.ceuterick@ncs-shipping.com
Phone:050/55.88.13