NDM Group
ActiveSummary
The computed 12-month bankruptcy probability of NDM Group is 2.3% (moderate). The 2024 annual accounts show equity of €150,778 and a net result of €72,171. Equity is growing by ~62.9% per year across the filed fiscal years. Its solvency ranks better than 51% of 36380 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability97▲+17
Solvency73▼-6
Growth78=
Track record94
Bankruptcy probability, 12 months
2.3%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity ample (current ratio 2.12 against 7.38 in 2023; short-term debt: 42.9% and cash: 40.8% of total assets), but 52.1% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 30-07-2025, 1 day ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
not confirmed
2024
1 d early
2023
17 d early
2022
13 d early
2021
22 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 13 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
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Financials · fiscal year 2024, micro schema
Turnover
€348,320
EBIT margin
0.6%
Net result
€72,171▲ 467%
2023 · €12,718
Working capital
€151,632▲ 44.6%
2023 · €104,895
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2021202220232024
Turnover€348,320-
Operating result€1,926-€79,521▲ 4,029%€19,439▼ 75.6%€97,848▲ 403%
Net result€1,273within the sector's middle half-€60,616above the sector's middle half▲ 4,662%€12,718within the sector's middle half▼ 79.0%€72,171above the sector's middle half▲ 467%
EBIT margin0.6%-
Equity€5,273below the sector's middle half-€65,889within the sector's middle half▲ 1,150%€78,607within the sector's middle half▲ 19.3%€150,778above the sector's middle half▲ 91.8%
Total assets€37,329below the sector's middle half-€259,488within the sector's middle half▲ 595%€145,569within the sector's middle half▼ 43.9%€314,878above the sector's middle half▲ 116%
Debt€32,056-€193,600▲ 504%€66,962▼ 65.4%€164,101▲ 145%
Working capital€16,007-€104,492▲ 553%€104,895▲ 0.4%€151,632▲ 44.6%
Solvency14.1%below the sector's middle half-25.4%within the sector's middle half▲ 11.3pp54.0%within the sector's middle half▲ 28.6pp47.9%within the sector's middle half▼ 6.1pp
Staff (FTE)1.2-1.2=2.4▲ 100%3▲ 25.0%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 403% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €314,878
Fixed assets
€28,145 ▲ 16.2%
Current assets
€286,733 ▲ 136%
Equity and liabilities €314,878
Equity
€150,778 ▲ 91.8%
Debt
€164,101 ▲ 145%
Debt's share of the balance-sheet total rises from 46.0% to 52.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€105,437▲
2023 · €24,365
Cash flow
€79,760▲
2023 · €17,644
Current ratio
2.12▼
2023 · 7.38
Quick ratio
2.05▼
2023 · 6.19
Debt to equity
1.09▲
2023 · 0.85
ROE
47.9%▲
2023 · 16.2%
ROA
22.9%▲
2023 · 8.7%
Interest coverage
23.02▲
2023 · 11.52
Debt ≤ 1 year
€135,101▲
2023 · €16,452
Debt > 1 year
€29,000▼
2023 · €50,510
Income taxes
€21,618▲
2023 · €4,699
Staff costs
€141,631▲
2023 · €108,124
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,964 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 2.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 26,964 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Turnover70 | €348,320 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €322,497 | - | - | - | - |
| Remuneration, social security and pensions62 | €17,554 | €24,219 | €108,124 | €141,631 | ▲ 31.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,831 | €4,670 | €4,926 | €7,589 | ▲ 54.1% |
| Other operating charges640/8 | €1,408 | €2,726 | €6,315 | €4,120 | ▼ 34.8% |
| Gross operating margin9900 | €26,719 | €111,136 | €138,805 | €251,188 | ▲ 81.0% |
| Operating profit (loss)9901 | €1,926 | €79,521 | €19,439 | €97,848 | ▲ 403% |
| Financial income75/76B | €135 | €60 | €94 | €520 | ▲ 452% |
| Recurring financial income75 | €135 | €60 | €94 | €520 | ▲ 452% |
| Financial charges65/66B | €789 | €2,965 | €2,116 | €4,580 | ▲ 116% |
| Recurring financial charges65 | €789 | €2,965 | €2,116 | €4,580 | ▲ 116% |
| Profit (loss) for the period before taxes9903 | €1,273 | €76,616 | €17,417 | €93,788 | ▲ 438% |
| Income taxes67/77 | - | €16,000 | €4,699 | €21,618 | ▲ 360% |
| Profit (loss) for the period9904 | €1,273 | €60,616 | €12,718 | €72,171 | ▲ 467% |
| Profit (loss) for the period to be appropriated9905 | €1,273 | €60,616 | €12,718 | €72,171 | ▲ 467% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €37,329 | €259,488 | €145,569 | €314,878 | ▲ 116% |
| Fixed assets21/28 | €17,518 | €12,848 | €24,222 | €28,145 | ▲ 16.2% |
| Tangible fixed assets22/27 | €17,518 | €12,848 | €18,222 | €22,145 | ▲ 21.5% |
| Plant, machinery and equipment23 | - | - | €5,684 | €4,484 | ▼ 21.1% |
| Furniture and vehicles24 | €17,518 | €12,848 | €12,538 | €17,661 | ▲ 40.9% |
| Financial fixed assets28 | - | - | €6,000 | €6,000 | = |
| Current assets29/58 | €19,811 | €246,640 | €121,347 | €286,733 | ▲ 136% |
| Stocks and contracts in progress3 | - | - | €19,445 | €10,000 | ▼ 48.6% |
| Stocks30/36 | - | - | €19,445 | €10,000 | ▼ 48.6% |
| Amounts receivable within one year40/41 | €18,814 | €168,830 | €60,709 | €148,324 | ▲ 144% |
| Trade receivables40 | €15,221 | €163,227 | €57,025 | €145,254 | ▲ 155% |
| Other amounts receivable41 | €3,593 | €5,603 | €3,685 | €3,070 | ▼ 16.7% |
| Cash at bank and in hand54/58 | €997 | €77,810 | €41,193 | €128,409 | ▲ 212% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €37,329 | €259,488 | €145,569 | €314,878 | ▲ 116% |
| Equity10/15 | €5,273 | €65,889 | €78,607 | €150,778 | ▲ 91.8% |
| Contributions10/11 | €4,000 | €4,000 | €4,000 | €4,000 | = |
| Profit (loss) carried forward14 | €1,273 | €61,889 | €74,607 | €146,778 | ▲ 96.7% |
| Amounts payable17/49 | €32,056 | €193,600 | €66,962 | €164,101 | ▲ 145% |
| Amounts payable after more than one year17 | €28,252 | €51,452 | €50,510 | €29,000 | ▼ 42.6% |
| Financial debts170/4 | €28,252 | €51,452 | €50,510 | €29,000 | ▼ 42.6% |
| Amounts payable within one year42/48 | €3,804 | €142,148 | €16,452 | €135,101 | ▲ 721% |
| Trade debts44 | €2 | €53,194 | €10,861 | €84,680 | ▲ 680% |
| Suppliers440/4 | €2 | €53,194 | €10,861 | €84,680 | ▲ 680% |
| Taxes, remuneration and social security45 | - | €20,494 | €5,591 | €27,326 | ▲ 389% |
| Taxes450/3 | - | €16,000 | €4,300 | €21,000 | ▲ 388% |
| Remuneration and social security454/9 | - | €4,494 | €1,291 | €6,326 | ▲ 390% |
| Other amounts payable47/48 | €3,803 | €68,459 | - | €23,095 | - |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,273 | €60,616 | €12,718 | €72,171 | ▲ 467% |
| + Depreciation and write-downs630 | €5,831 | €4,670 | €4,926 | €7,589 | ▲ 54.1% |
| Operating cash flow (approximation) | €7,104 | €65,285 | €17,644 | €79,760 | ▲ 352% |
| Investment in fixed assets (approximation) | - | €0 | -€16,300 | -€11,513 | ▲ 29.4% |
| Change in cash | - | €76,813 | -€36,617 | €87,216 | ▲ 338% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2021net €72,171 ▲467%
Operating result €97,848, net result €72,171, both a record.
31-12
Financial
Equity above €150,000Eq €150,778 ▲91.8%
4 profitable years in a row build equity to €150,778.
14-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity quadruplescurrent ratio 7.38
Current ratio from 1.74 to 7.38; short-term debt falls from €142,148 to €16,452.
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
09-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Antwerpen · 1 establishment unit since 2020
Ground area
208 m²
Building footprint
208 m²
Volume, LiDAR
1,249 m³
Parcel 11343A0612/00M006, Flanders · tallest building 11.5 m, ±1 floor. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
NDM Bouwwerken
since 20202.309.385.403
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11343A0612/00M006 | Flanders | 208 m² | 1 · 208 m² | 11.5 m · 1 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 20,025 companies in sector 43320 we hold annual accounts for 9,134. 7,622 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
Founded26-10-2020
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0756983446
Also
9925:BE0756983446
Registered
04-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.