Result
From profit to loss in 2025, after a profit of €168,437 in 2024.
From profit to loss in 2025, after a profit of €168,437 in 2024.
Of this, €831,829 falls due within a year.
Green is investment, beige is depreciation.
Short-term debts rose from €97,458 to €831,829.
Seven of the last ten came late. The 2019 accounts came latest: 47 days after the end of the period.
Lower net result than 95% of companies in retail trade. Sector median €5,048 · 22,907 companies.
The dashed line is the sector median: 0.4% across 3,698 companies (NACE 47, small).
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 47, small). It does better than 22% of them on solvency, 65% on liquidity, 12% on profitability and 14% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 1,037 companies had the same profile as NDB DIFFUSION has now. Each dot stands for 3 companies, two years later.
Another 0.4% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of NDB DIFFUSION itself is lower: 0.4% within 12 months. It rests on far more data about NDB DIFFUSION than the profile alone.
The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,037 companies, not a prediction for NDB DIFFUSION. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is insufficient, with a current ratio of 0.86 (4.62 in 2024), below 1. Short-term debt is 30.6% and cash 11% of total assets. 90.4% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 5 days after the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| NDB DIFFUSION Namur | €2.7m | €170,249 | 9.6% | - |
| VANDEN MEERSSCHE RETAIL Dilbeek | €3.1m | €181,940 | 42.3% | - |
| V & V Vending Real Estate Berlaar | €2.4m | €143,158 | 26.0% | - |
| BHADAR INTERNATIONAL BUSINESS Brussels | €1.9m | €148,988 | 6.2% | 4.3 |
| Biedronka Genk Genk | €2.6m | €237,129 | 8.9% | - |
| RG FOOD Braine-le-Château | €4.1m | €213,719 | -0.6% | 0 |
| O'LIFE NATURAL Zaventem | €3.0m | €163,972 | 45.6% | - |
These companies have the same main activity as NDB DIFFUSION: non-specialised retail sale with food, beverages or tobacco predominating (NACE 47110). They are comparable in size and age: total assets between €1.9m and €4.1m, founded between 2011 and 2017.
NDB DIFFUSION files the micro format. That format states no turnover. The gross margin rose from €9,215 in 2014 to €170,249 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €1.4m. Estimated: probably between €970,000 and €1.8m.
Higher than 29% of 22,924 companies in 2025.
Higher than 25% of 22,052 companies in 2025.
Higher than 25% of 22,202 companies in 2025.
Net result: bottom quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: bottom quarter
Staff costs divided by the average number of full-time equivalents.
In 2025, 15 people joined and 4 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||
20/58 |
2.7m | 456,989 | 262,774 | 186,819 | 153,086 | 104,637 | 81,875 | 74,361 | 80,052 | 85,553 | 58,873 | 51,409 | |
21/28 |
2.0m | 6,996 | 28,034 | 38,004 | 23,881 | 9,034 | 12,616 | 20,165 | 18,938 | 19,592 | 8,037 | 6,778 | |
21 |
1.9m | - | 1,235 | - | - | - | - | - | - | - | - | - | |
22/27 |
27,659 | 6,971 | 26,774 | 37,979 | 23,856 | 9,009 | 12,591 | 20,140 | 18,913 | 19,567 | 8,012 | 6,753 | |
23 |
26,696 | - | 853 | 940 | 1,027 | 1,600 | 2,245 | 3,207 | 4,274 | 2,927 | 3,173 | 2,424 | |
24 |
962 | 4,647 | 21,871 | 31,869 | 18,418 | 3,961 | 6,303 | 12,293 | 11,422 | 14,560 | 4,047 | 4,329 | |
26 |
- | 2,324 | 4,050 | 5,170 | 4,412 | 3,448 | 4,043 | 4,639 | 3,217 | 2,081 | 791 | - | |
28 |
50,000 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | |
29/58 |
718,252 | 449,993 | 234,740 | 148,815 | 129,205 | 95,603 | 69,259 | 54,196 | 61,114 | 65,961 | 50,837 | 44,631 | |
29 |
40,033 | - | - | - | - | - | - | - | - | - | - | - | |
291 |
40,033 | - | - | - | - | - | - | - | - | - | - | - | |
3 |
237,123 | - | 56,223 | 59,051 | 37,984 | 33,144 | 6,853 | 16,119 | 16,348 | 16,348 | 17,180 | 17,619 | |
30/36 |
237,123 | - | 56,223 | 59,051 | 37,984 | 33,144 | 6,853 | 16,119 | 16,348 | 16,348 | 17,180 | 17,619 | |
40/41 |
98,673 | 30,774 | 28,495 | 19,868 | 30,547 | 25,978 | 19,234 | 13,191 | 22,355 | 34,970 | 20,267 | 15,585 | |
40 |
16,619 | 4,050 | 16,444 | 15,302 | 16,832 | 18,857 | 9,299 | 6,064 | 10,189 | 21,825 | 3,506 | 15,585 | |
41 |
82,054 | 26,723 | 12,051 | 4,566 | 13,714 | 7,120 | 9,935 | 7,127 | 12,166 | 13,145 | 16,762 | - | |
50/53 |
- | - | 5,000 | - | - | - | - | - | - | - | - | - | |
54/58 |
299,815 | 406,078 | 138,476 | 48,017 | 58,887 | 33,685 | 41,959 | 22,799 | 20,352 | 13,265 | 12,476 | 10,997 | |
490/1 |
42,609 | 13,141 | 6,546 | 21,879 | 1,788 | 2,797 | 1,213 | 2,087 | 2,060 | 1,378 | 913 | 430 | |
| Balance sheet: equity and liabilities | |||||||||||||
10/49 |
2.7m | 456,989 | 262,774 | 186,819 | 153,086 | 104,637 | 81,875 | 74,361 | 80,052 | 85,553 | 58,873 | 51,409 | |
10/15 |
262,179 | 354,198 | 185,761 | 108,485 | 77,253 | 46,922 | 16,837 | 9,827 | 16,374 | 11,793 | 11,689 | 9,016 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
13 |
167,161 | 167,161 | 167,161 | 89,885 | 71,053 | 40,722 | 10,637 | 4,533 | 4,533 | 4,533 | 4,533 | 1,860 | |
130/1 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | |
133 |
165,301 | 165,301 | 165,301 | 88,025 | 69,193 | 38,862 | 8,777 | 2,673 | 2,673 | 2,673 | 2,673 | - | |
14 |
76,417 | 168,437 | - | - | - | - | - | -906 | 5,641 | 1,060 | 956 | 956 | |
17/49 |
2.5m | 102,791 | 77,013 | 78,334 | 75,834 | 57,715 | 65,038 | 64,534 | 63,678 | 73,760 | 47,184 | 42,393 | |
17 |
1.6m | - | 14,600 | 12,167 | 24,250 | 23,000 | 34,000 | 9,000 | 9,000 | 9,000 | 9,000 | - | |
170/4 |
1.6m | - | - | 567 | 2,250 | - | - | - | - | - | - | - | |
178/9 |
- | - | 14,600 | 11,600 | 22,000 | 23,000 | 34,000 | 9,000 | 9,000 | 9,000 | 9,000 | - | |
42/48 |
831,829 | 97,458 | 57,666 | 62,167 | 48,267 | 32,314 | 29,823 | 54,544 | 53,913 | 64,204 | 37,629 | 42,368 | |
42 |
169,435 | - | 567 | 1,683 | 1,658 | - | - | - | - | - | - | - | |
43 |
100,000 | - | - | - | - | - | - | - | - | - | - | - | |
430/8 |
100,000 | - | - | - | - | - | - | - | - | - | - | - | |
44 |
476,101 | 2,587 | 7,051 | 16,882 | 4,365 | 20,943 | 21,270 | 20,953 | 16,774 | 14,158 | 3,580 | 10,788 | |
440/4 |
476,101 | 2,587 | 7,051 | 16,882 | 4,365 | 20,943 | 21,270 | 20,953 | 16,774 | 14,158 | 3,580 | 10,788 | |
46 |
- | - | 14,117 | 39,416 | 39,656 | 6,097 | - | - | - | 7,941 | - | 1,500 | |
45 |
86,293 | 92,722 | 35,904 | 3,264 | 1,945 | 4,969 | 4,364 | 2,208 | 5,650 | 2,144 | 3,607 | 3,468 | |
450/3 |
59,867 | 92,722 | 35,904 | 3,264 | 1,945 | 4,969 | 4,364 | 2,208 | 5,650 | 2,144 | 3,607 | 3,468 | |
454/9 |
26,427 | - | - | - | - | - | - | - | - | - | - | - | |
47/48 |
- | 2,150 | 28 | 922 | 643 | 306 | 4,189 | 31,383 | 31,489 | 39,961 | 30,442 | 26,612 | |
492/3 |
34,053 | 5,332 | 4,747 | 4,000 | 3,316 | 2,401 | 1,215 | 990 | 765 | 556 | 555 | 25 | |
| Income statement | |||||||||||||
9900 |
170,249 | 236,961 | 124,702 | 38,574 | 50,844 | 51,300 | 19,016 | 3,827 | 13,951 | 7,576 | 9,447 | 9,215 | |
62 |
147,214 | - | - | - | - | - | - | - | - | - | - | - | |
630 |
71,849 | 6,688 | 11,255 | 9,231 | 4,882 | 7,646 | 7,549 | 7,656 | 5,548 | 4,999 | 3,788 | 3,699 | |
640/8 |
10,448 | 4,032 | 2,019 | 1,298 | 1,214 | 968 | 910 | 1,198 | 887 | 877 | 348 | 695 | |
9901 |
-59,262 | 226,241 | 111,428 | 28,045 | 44,747 | 42,686 | 10,557 | -5,027 | 7,516 | 1,700 | 5,311 | 4,821 | |
75/76B |
3,318 | 7,417 | 52 | 30 | 49 | 821 | 2 | 500 | 111 | - | 35 | 67 | |
75 |
3,318 | 7,417 | 52 | 30 | 49 | 821 | 2 | 500 | 111 | - | 35 | 67 | |
65/66B |
35,811 | 6,208 | 1,560 | 1,314 | 2,517 | 1,590 | 1,526 | 1,792 | 1,067 | 1,422 | 879 | 366 | |
65 |
35,811 | 6,208 | 1,560 | 1,314 | 1,659 | 1,590 | 1,526 | 1,792 | 1,067 | 1,422 | 879 | 366 | |
66B |
- | - | - | - | 858 | - | - | - | - | - | - | - | |
9903 |
-91,755 | 227,451 | 109,920 | 26,761 | 42,279 | 41,917 | 9,034 | -6,319 | 6,560 | 278 | 4,467 | 4,522 | |
67/77 |
264 | 59,014 | 32,643 | 7,929 | 11,948 | 11,833 | 2,023 | 228 | 1,980 | 174 | 1,793 | 1,706 | |
9904 |
-92,019 | 168,437 | 77,277 | 18,832 | 30,331 | 30,085 | 7,010 | -6,547 | 4,580 | 104 | 2,673 | 2,816 | |
9905 |
-92,019 | 168,437 | 77,277 | 18,832 | 30,331 | 30,085 | 7,010 | -6,547 | 4,580 | 104 | 2,673 | 2,816 | |
| Appropriation of the result | |||||||||||||
9906 |
76,417 | 168,437 | 77,277 | 18,832 | 30,331 | 30,085 | 6,104 | -906 | 5,641 | 1,060 | 3,629 | 2,816 | |
14P |
168,437 | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | 77,277 | 18,832 | 30,331 | 30,085 | 6,104 | - | - | - | 2,673 | 1,860 | |
6920 |
- | - | 77,277 | 18,832 | 30,331 | - | - | - | - | - | - | 1,860 | |
6921 |
- | - | - | - | - | 30,085 | 6,104 | - | - | - | 2,673 | - | |
| Social balance sheet | |||||||||||||
9087 |
3.4 | - | - | - | - | - | - | - | - | - | - | - | |
Hours worked1013 |
5,015 | - | - | - | - | - | - | - | - | - | - | - | |
| Document | |||||||||||||
The notes to these accounts have 18 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 08-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 08-07-2026 | 2026-00268868 | |
| 31-12-2024 | micro format | 23-06-2025 | 2025-00164146 | |
| 31-12-2023 | micro format | 16-07-2024 | 2024-00262662 | |
| 31-12-2022 | micro format | 08-08-2023 | 2023-00317821 | |
| 31-12-2021 | micro format | 25-08-2022 | 2022-20334289 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-63200355 | |
| 31-12-2019 | micro format | 16-09-2020 | 2020-53200444 | |
| 31-12-2018 | micro format | 12-09-2019 | 2019-64500028 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-60900530 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-57700103 | |
| 31-12-2015 | abbreviated format | 26-08-2016 | 2016-48600056 | |
| 31-12-2014 | abbreviated format | 25-08-2015 | 2015-46900369 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12,587 | 232,929 | 122,682 | 37,276 | 49,629 | 50,332 | 18,106 | 2,629 | 13,064 | 6,699 | 9,099 | 8,520 | ||
| -20,170 | 175,125 | 88,531 | 28,063 | 35,213 | 37,731 | 14,559 | 1,108 | 10,129 | 5,104 | 6,461 | 6,515 | ||
| 2.1m | 8,566 | 1,285 | 23,354 | 59,587 | 4,064 | 0 | 8,883 | 4,893 | 16,555 | 5,047 | 10,477 | ||
| -106,263 | 267,602 | 90,459 | -10,870 | 25,202 | -8,275 | 19,160 | 2,447 | 7,087 | 789 | 1,479 | - | ||
| -113,577 | 352,534 | 177,074 | 86,648 | 80,938 | 63,289 | 39,436 | -348 | 7,201 | 1,757 | 13,208 | 2,263 | ||
| 9.6% | 77.5% | 70.7% | 58.1% | 50.5% | 44.8% | 20.6% | 13.2% | 20.5% | 13.8% | 19.9% | 17.5% | ||
| 0.86 | 4.62 | 4.07 | 2.39 | 2.68 | 2.96 | 2.32 | 0.99 | 1.13 | 1.03 | 1.35 | 1.05 | ||
| 0.58 | 4.62 | 3.10 | 1.44 | 1.89 | 1.93 | 2.09 | 0.70 | 0.83 | 0.77 | 0.89 | 0.64 | ||
| 9.36 | 0.29 | 0.41 | 0.72 | 0.98 | 1.23 | 3.86 | 6.57 | 3.89 | 6.25 | 4.04 | 4.70 | ||
| -35.1% | 47.6% | 41.6% | 17.4% | 39.3% | 64.1% | 41.6% | -66.6% | 28.0% | 0.9% | 22.9% | 31.2% | ||
| -3.4% | 36.9% | 29.4% | 10.1% | 19.8% | 28.8% | 8.6% | -8.8% | 5.7% | 0.1% | 4.5% | 5.5% | ||
| 0.35 | 37.52 | 78.64 | 28.37 | 29.91 | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 |
|---|---|
| Employees at the balance-sheet date | 11 |
| full-time | 6 |
| part-time | 5 |
| in full-time equivalents | 9.6 |
| 3.4 | |
| On a permanent contract | 9 |
| Joined | 15 |
| Left | 4 |
Source: social balance sheet in the 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €28,998 | €8,566 | - | €23,354 | €59,587 |
| Intangible fixed assets | €2.0m | - | €1,285 | - | - |
| Financial fixed assets | €50,000 | - | - | - | - |
| €71,849 | €6,688 | €11,255 | €9,231 | €4,882 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €59,262, after a profit of €226,241 in 2024. It is the lowest result since 2014.
Debt's share of the balance-sheet total rises from 22.5% to 90.4%. Equity is lower and debt is higher.
Source: list of holdings in its own 2025 accounts. Every holding stands with its own latest accounts.
The network starts from the directors of NDB DIFFUSION. Every other company they run is a node.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number | FASFC approval |
|---|---|---|---|
| Rue des Echasseurs 1 registered office 5000 Namur | 01-12-2013 | 2.224.704.007 | Butcher's shop Retail trade |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 92094C0821/00B000 | 1,637 m² | 1 · 1,677 m² | 29.5 m · 7 |
If something looks wrong or is missing, please tell us.