NEFICO
ActiveSummary
NEFICO has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €22k and a net result of €70k. Equity is shrinking by ~16.8% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 14% of 12738 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+11
Solvency35▼-27
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity short (current ratio 0.78 against 1.38 in 2024; short-term debt: 89.6% and cash: 27.8% of total assets), and 89.6% 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← 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
10.4%
Return on assets
33.7%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 12738 sector peers (2025).
NBB · sector comparisonPosition among 12738 sector peers
Solvency
better than 14%
← weakest
strongest →
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 19-07-2026, 12 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
12 d early
2024
30 d late
2023
31 d late
2022
69 d late
2021
92 d late
2020
61 d late
2019
69 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€22k▼ 74.9%
2024 · €87k
2018: €131k
2019: €149k▲ +14.0% vs 2018
2020: €210k▲ +41.3% vs 2019
2021: €271k▲ +28.8% vs 2020highest in 8 years
2022: €159k▼ -41.3% vs 2021
2023: €114k▼ -28.5% vs 2022
2024: €87k▼ -24.0% vs 2023
2025: €22k▼ -74.9% vs 2024lowest in 8 years
2018 → 2025
Total assets
€208k▼ 11.8%
2024 · €236k
2018: €216k
2019: €210k▼ -2.8% vs 2018
2020: €274k▲ +30.5% vs 2019
2021: €330k▲ +20.3% vs 2020
2022: €342k▲ +3.9% vs 2021highest in 8 years
2023: €244k▼ -28.8% vs 2022
2024: €236k▼ -3.2% vs 2023
2025: €208k▼ -11.8% vs 2024lowest in 8 years
2018 → 2025
Net result
€70k▲ 86.1%
2024 · €38k
2018: €70k
2019: €18k▼ -73.6% vs 2018
2020: €62k▲ +236% vs 2019
2021: €61k▼ -1.6% vs 2020
2022: €13k▼ -78.2% vs 2021lowest in 8 years
2023: €35k▲ +163% vs 2022
2024: €38k▲ +8.7% vs 2023
2025: €70k▲ +86.1% vs 2024highest in 8 years
2018 → 2025
Working capital
€-42k
2024 · €57k
2018: €112k
2019: €138k▲ +23.1% vs 2018
2020: €205k▲ +48.9% vs 2019
2021: €268k▲ +30.8% vs 2020highest in 8 years
2022: €157k▼ -41.5% vs 2021
2023: €76k▼ -51.7% vs 2022
2024: €57k▼ -24.4% vs 2023
2025: €-42k▼ -173% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€271k-€159k▼ 41.3%€114k▼ 28.5%€87k▼ 24.0%€22k▼ 74.9%
2021: €271khighest in 5 years
2022: €159k▼ -41.3% vs 2021
2023: €114k▼ -28.5% vs 2022
2024: €87k▼ -24.0% vs 2023
2025: €22k▼ -74.9% vs 2024lowest in 5 years
Operating result€75k-€19k▼ 74.7%€46k▲ 141%€50k▲ 8.8%€87k▲ 75.6%
2021: €75k
2022: €19k▼ -74.7% vs 2021lowest in 5 years
2023: €46k▲ +141% vs 2022
2024: €50k▲ +8.8% vs 2023
2025: €87k▲ +75.6% vs 2024highest in 5 years
Net result€61k-€13k▼ 78.2%€35k▲ 163%€38k▲ 8.7%€70k▲ 86.1%
2021: €61k
2022: €13k▼ -78.2% vs 2021lowest in 5 years
2023: €35k▲ +163% vs 2022
2024: €38k▲ +8.7% vs 2023
2025: €70k▲ +86.1% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 76% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €208k
Fixed assets
€63k ▲ 117%
Current assets
€145k ▼ 30.0%
Equity and liabilities €208k
Equity
€22k ▼ 74.9%
Debt
€187k ▲ 24.7%
Debt's share of the balance-sheet total rises from 63.3% to 89.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€100k▲
2024 · €58k
Cash flow
€83k▲
2024 · €47k
Current ratio
0.78▼
2024 · 1.38
Debt to equity
8.59▲
2024 · 1.73
ROE
323.1%▲
2024 · 43.6%
ROA
33.7%▲
2024 · 16.0%
Interest coverage
127.52▼
2024 · 168.33
Debt ≤ 1 year
€187k▲
2024 · €150k
Income taxes
€20k▲
2024 · €11k
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 · 2025 against 2024 · 47 lines
Balance sheet
Code20242025
Assets
Total assets20/58€236k€208k▼
Fixed assets21/28€29k€63k▲
Tangible fixed assets22/27€29k€63k▲
Plant, machinery and equipment23€2k€2k▼
Furniture and vehicles24€26k€61k▲
Other tangible fixed assets26€820€690▼
Current assets29/58€207k€145k▼
Amounts receivable within one year40/41€36k€86k▲
Trade receivables40€20k€83k▲
Other amounts receivable41€16k€2k▼
Cash at bank and in hand54/58€170k€58k▼
Deferred charges and accrued income490/1€1k€1k=
Equity and liabilities
Total equity and liabilities10/49€236k€208k▼
Equity10/15€87k€22k▼
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k-
Reserves not available under the articles1311€2k-
Distributable reserves133-€2k
Profit (loss) carried forward14€66k€1k▼
Amounts payable17/49€150k€187k▲
Amounts payable within one year42/48€150k€187k▲
Trade debts44€11k€248▼
Suppliers440/4€11k€248▼
Taxes, remuneration and social security45€19k€22k▲
Taxes450/3€16k€22k▲
Remuneration and social security454/9€2k-
Other amounts payable47/48€120k€165k▲
Income statement
Code20242025
Non-recurring operating income76A-€9k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9k€13k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-2k€-2k▼
Other operating charges640/8€1k€699▼
Non-recurring operating charges66A€349-
Gross operating margin9900€59k€98k▲
Operating profit (loss)9901€50k€87k▲
Financial income75/76B-€3k
Recurring financial income75-€3k
Financial charges65/66B€347€782▲
Recurring financial charges65€347€782▲
Profit (loss) for the period before taxes9903€49k€90k▲
Income taxes67/77€11k€20k▲
Profit (loss) for the period9904€38k€70k▲
Profit (loss) for the period to be appropriated9905€38k€70k▲
Appropriation of the result
Profit (loss) to be appropriated9906€131k€136k▲
Profit (loss) brought forward from the previous period14P€93k€66k▼
Profit to be distributed694/7€65k€135k▲
Return on contributions (dividend)694€65k€135k▲
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €70 | - | - | - | €9k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3k | €462 | €7k | €9k | €13k | ▲ 44.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €-2k | €-2k | ▼ 44.3% |
| Other operating charges640/8 | €1k | €933 | €1k | €1k | €699 | ▼ 52.1% |
| Non-recurring operating charges66A | - | - | €365 | €349 | - | - |
| Gross operating margin9900 | €78k | €20k | €54k | €59k | €98k | ▲ 67.5% |
| Operating profit (loss)9901 | €75k | €19k | €46k | €50k | €87k | ▲ 75.6% |
| Financial income75/76B | €482 | - | €86 | - | €3k | - |
| Recurring financial income75 | €482 | - | €86 | - | €3k | - |
| Financial charges65/66B | - | €56 | €140 | €347 | €782 | ▲ 126% |
| Recurring financial charges65 | - | €56 | €140 | €347 | €782 | ▲ 126% |
| Profit (loss) for the period before taxes9903 | €75k | €19k | €45k | €49k | €90k | ▲ 82.3% |
| Income taxes67/77 | €14k | €6k | €11k | €11k | €20k | ▲ 70.0% |
| Profit (loss) for the period9904 | €61k | €13k | €35k | €38k | €70k | ▲ 86.1% |
| Profit (loss) for the period to be appropriated9905 | €61k | €13k | €35k | €38k | €70k | ▲ 86.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €330k | €342k | €244k | €236k | €208k | ▼ 11.8% |
| Fixed assets21/28 | €3k | €2k | €38k | €29k | €63k | ▲ 117% |
| Tangible fixed assets22/27 | €3k | €2k | €38k | €29k | €63k | ▲ 117% |
| Plant, machinery and equipment23 | - | - | €3k | €2k | €2k | ▼ 11.6% |
| Furniture and vehicles24 | €1k | €1k | €35k | €26k | €61k | ▲ 132% |
| Other tangible fixed assets26 | €1k | €1k | €951 | €820 | €690 | ▼ 15.9% |
| Current assets29/58 | €327k | €340k | €206k | €207k | €145k | ▼ 30.0% |
| Amounts receivable within one year40/41 | €152k | €136k | €125k | €36k | €86k | ▲ 137% |
| Trade receivables40 | €129k | €129k | €118k | €20k | €83k | ▲ 308% |
| Other amounts receivable41 | €22k | €7k | €7k | €16k | €2k | ▼ 84.4% |
| Cash at bank and in hand54/58 | €175k | €203k | €79k | €170k | €58k | ▼ 65.9% |
| Deferred charges and accrued income490/1 | €580 | €910 | €1k | €1k | €1k | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €330k | €342k | €244k | €236k | €208k | ▼ 11.8% |
| Equity10/15 | €271k | €159k | €114k | €87k | €22k | ▼ 74.9% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | - | - |
| Distributable reserves133 | - | - | - | - | €2k | - |
| Profit (loss) carried forward14 | €251k | €139k | €93k | €66k | €1k | ▼ 98.0% |
| Amounts payable17/49 | €59k | €183k | €130k | €150k | €187k | ▲ 24.7% |
| Amounts payable within one year42/48 | €59k | €183k | €130k | €150k | €187k | ▲ 24.7% |
| Trade debts44 | €11k | €11k | €13k | €11k | €248 | ▼ 97.7% |
| Suppliers440/4 | €11k | €11k | €13k | €11k | €248 | ▼ 97.7% |
| Taxes, remuneration and social security45 | €16k | €16k | €17k | €19k | €22k | ▲ 16.0% |
| Taxes450/3 | €16k | €14k | €17k | €16k | €22k | ▲ 33.1% |
| Remuneration and social security454/9 | - | €2k | - | €2k | - | - |
| Other amounts payable47/48 | €31k | €156k | €100k | €120k | €165k | ▲ 37.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €61k | €13k | €35k | €38k | €70k | ▲ 86.1% |
| + Depreciation and write-downs630 | €3k | €462 | €7k | €9k | €13k | ▲ 44.0% |
| Operating cash flow (approximation) | €63k | €14k | €42k | €47k | €83k | ▲ 78.1% |
| Investment in fixed assets (approximation) | - | €0 | €-43k | €0 | €-47k | - |
| Change in cash | - | €28k | €-124k | €90k | €-112k | ▼ 224% |
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
Next filing, fiscal year 2026, expected by
2026
19-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €70k ▲86.1%
Net result €70k, the highest in the series.
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
08-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 69 days late
2022
31-12
Financial
Weakest financial yearnet €13k ▼78.2%
Net result drops to €13k, the lowest in the series; recovery starts the following year.
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 92 days late
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 61 days late
2020
31-12
Financial
Equity above €200kEq €210k ▲41.3%
3 profitable years in a row build equity to €210k.
08-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 69 days late
2019
27-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 61 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Hasselt · 1 establishment unit since 2016
Ground area
1,224 m²
Building footprint
185 m²
Volume, LiDAR
1,028 m³
Parcel 73020A0466/00X000, Flanders · tallest building 8.4 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
NEFICO
since 20162.253.621.487
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73020A0466/00X000 | Flanders | 1,224 m² | 1 · 185 m² | 8.4 m · 2 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 12,173 companies in sector 69201 we hold annual accounts for 7,638. 4,566 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
Founded24-03-2016
Fiscal year end31-12
Activities, NACEBEL 2025
69201Certified accountants and tax accountants
Scores and ratios are computed by Checked and are not a credit decision.