NELMAR
ActiveSummary
NELMAR has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €556,062 and a net result of -€13,722. Equity is shrinking by ~4.3% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability35▼-36
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40,000 at 30 days acceptable
Liquidity ample (current ratio 22.49 against 28.92 in 2024; short-term debt: 2.3% and cash: 49.9% of total assets), and 3.1% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
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
96.9%
Return on assets
-2.4%
Age of the figures
9 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 30-08-2026, 30 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
30 d late
2024
6 d early
2023
127 d late
2022
30 d late
2021
1 d late
2020
31 d early
2019
29 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 17 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
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. Usually files around 30 August (4 of the last 5 filed years within 36 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€13,722
2024 · €10,192
Working capital
€279,222▼ 11.7%
2024 · €316,118
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€13,056-€14,060€7,685€13,749▲ 78.9%-€9,929
Net result€11,673▲ 436%-€11,851€5,707€10,192▲ 78.6%-€13,722
Equity€640,737▲ 1.9%€553,885▼ 13.6%€559,592▲ 1.0%€569,784▲ 1.8%€556,062▼ 2.4%
Total assets€733,602▲ 2.0%€643,048▼ 12.3%€573,750▼ 10.8%€587,881▲ 2.5%€573,830▼ 2.4%
Debt€92,866▲ 3.0%€89,163▼ 4.0%€14,159▼ 84.1%€18,098▲ 27.8%€17,768▼ 1.8%
Working capital€377,859▲ 7.6%€313,837▼ 16.9%€284,660▼ 9.3%€316,118▲ 11.1%€279,222▼ 11.7%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €9,929 after €13,749 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €573,830
Fixed assets
€281,613 ▲ 8.1%
Current assets
€292,217 ▼ 10.8%
Equity and liabilities €573,830
Equity
€556,062 ▼ 2.4%
Debt
€17,768 ▼ 1.8%
Debt's share of the balance-sheet total stays at 3.1%.
Key figures and ratios
EBITDA
€10,259▼
2024 · €33,902
Cash flow
€6,466▼
2024 · €30,345
Current ratio
22.49▼
2024 · 28.92
Debt to equity
0.03▲
2024 · 0.03
ROE
-2.5%▼
2024 · 1.8%
ROA
-2.4%▼
2024 · 1.7%
Interest coverage
2.32▼
2024 · 21.60
Debt ≤ 1 year
€12,995▲
2024 · €11,324
Debt > 1 year
€4,773▼
2024 · €6,773
Income taxes
€186▼
2024 · €3,287
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,616 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.2%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 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% | 1.7% |
| 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 75% 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 8,616 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 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €9,945 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,109 | €23,350 | €18,744 | €20,153 | €20,187 | ▲ 0.2% |
| Other operating charges640/8 | €6,029 | €11,972 | €12,604 | €6,103 | €36,680 | ▲ 501% |
| Gross operating margin9900 | €45,194 | €21,262 | €39,034 | €40,005 | €46,938 | ▲ 17.3% |
| Operating profit (loss)9901 | €13,056 | -€14,060 | €7,685 | €13,749 | -€9,929 | ▼ 172% |
| Financial income75/76B | €5,018 | €3,964 | €0 | €1,299 | €812 | ▼ 37.5% |
| Recurring financial income75 | €5,018 | €3,964 | €0 | €1,299 | €812 | ▼ 37.5% |
| Financial charges65/66B | €1,859 | €1,378 | €1,761 | €1,569 | €4,418 | ▲ 182% |
| Recurring financial charges65 | €1,859 | €1,378 | €1,761 | €1,569 | €4,418 | ▲ 182% |
| Profit (loss) for the period before taxes9903 | €16,215 | -€11,474 | €5,925 | €13,479 | -€13,535 | ▼ 200% |
| Income taxes67/77 | €4,542 | €378 | €218 | €3,287 | €186 | ▼ 94.3% |
| Profit (loss) for the period9904 | €11,673 | -€11,851 | €5,707 | €10,192 | -€13,722 | ▼ 235% |
| Profit (loss) for the period to be appropriated9905 | €11,673 | -€11,851 | €5,707 | €10,192 | -€13,722 | ▼ 235% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €733,602 | €643,048 | €573,750 | €587,881 | €573,830 | ▼ 2.4% |
| Fixed assets21/28 | €267,409 | €244,580 | €279,464 | €260,439 | €281,613 | ▲ 8.1% |
| Tangible fixed assets22/27 | €267,409 | €244,580 | €279,464 | €260,439 | €281,613 | ▲ 8.1% |
| Land and buildings22 | €257,678 | €243,797 | €276,781 | €258,809 | €279,378 | ▲ 7.9% |
| Plant, machinery and equipment23 | €293 | - | - | - | - | - |
| Furniture and vehicles24 | €9,439 | €783 | €2,683 | €1,629 | €2,235 | ▲ 37.2% |
| Current assets29/58 | €466,193 | €398,469 | €294,287 | €327,442 | €292,217 | ▼ 10.8% |
| Amounts receivable after more than one year29 | - | - | - | - | €627 | - |
| Other amounts receivable291 | - | - | - | - | €627 | - |
| Amounts receivable within one year40/41 | €79,356 | €52,527 | €570 | €570 | - | - |
| Trade receivables40 | €1,500 | - | - | - | - | - |
| Other amounts receivable41 | €77,856 | €52,527 | €570 | €570 | - | - |
| Cash at bank and in hand54/58 | €385,866 | €331,887 | €283,538 | €321,800 | €286,220 | ▼ 11.1% |
| Deferred charges and accrued income490/1 | €971 | €14,054 | €10,179 | €5,072 | €5,370 | ▲ 5.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €733,602 | €643,048 | €573,750 | €587,881 | €573,830 | ▼ 2.4% |
| Equity10/15 | €640,737 | €553,885 | €559,592 | €569,784 | €556,062 | ▼ 2.4% |
| Contributions10/11 | €504,000 | €504,000 | €504,000 | €504,000 | €504,000 | = |
| Capital10 | €504,000 | €504,000 | €504,000 | €504,000 | €504,000 | = |
| Issued capital100 | €504,000 | €504,000 | €504,000 | €504,000 | €504,000 | = |
| Reserves13 | €136,737 | €49,885 | €55,592 | €65,784 | €52,062 | ▼ 20.9% |
| Non-distributable reserves130/1 | €26,562 | €26,562 | €26,562 | €26,562 | €26,562 | = |
| Legal reserve130 | €26,562 | €26,562 | €26,562 | €26,562 | €26,562 | = |
| Tax-exempt reserves132 | €3,035 | €3,035 | €3,035 | €3,035 | €3,035 | = |
| Distributable reserves133 | €107,140 | €20,289 | €25,995 | €36,187 | €22,466 | ▼ 37.9% |
| Amounts payable17/49 | €92,866 | €89,163 | €14,159 | €18,098 | €17,768 | ▼ 1.8% |
| Amounts payable after more than one year17 | €4,532 | €4,532 | €4,532 | €6,773 | €4,773 | ▼ 29.5% |
| Other amounts payable178/9 | €4,532 | €4,532 | €4,532 | €6,773 | €4,773 | ▼ 29.5% |
| Amounts payable within one year42/48 | €88,334 | €84,631 | €9,627 | €11,324 | €12,995 | ▲ 14.8% |
| Trade debts44 | €1,781 | €2,781 | €1,654 | €128 | €2,251 | ▲ 1,661% |
| Suppliers440/4 | €1,781 | €2,781 | €1,654 | €128 | - | - |
| Bills of exchange payable441 | - | - | - | - | €2,251 | - |
| Taxes, remuneration and social security45 | €11,553 | €6,851 | €3,065 | €6,593 | €6,851 | ▲ 3.9% |
| Taxes450/3 | €8,053 | €6,851 | €3,065 | €6,593 | €6,851 | ▲ 3.9% |
| Remuneration and social security454/9 | €3,500 | - | - | - | - | - |
| Other amounts payable47/48 | €75,000 | €75,000 | €4,908 | €4,603 | €3,893 | ▼ 15.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,673 | -€11,851 | €5,707 | €10,192 | -€13,722 | ▼ 235% |
| + Depreciation and write-downs630 | €26,109 | €23,350 | €18,744 | €20,153 | €20,187 | ▲ 0.2% |
| Operating cash flow (approximation) | €37,782 | €11,498 | €24,451 | €30,345 | €6,466 | ▼ 78.7% |
| Investment in fixed assets (approximation) | - | -€520 | -€53,629 | -€1,128 | -€41,362 | ▼ 3,568% |
| Change in cash | - | -€53,979 | -€48,350 | €38,262 | -€35,580 | ▼ 193% |
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
30-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 30 days late
2025
31-12
Financial
Weakest financial yearnet -€13,722
Net result drops to -€13,722, the lowest in the series.
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
05-12
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 127 days late
2023
31-12
Financial
Back to profitnet €5,707
Net result €5,707 after one loss-making year.
31-12
Financial
Liquidity times 6current ratio 30.57
Current ratio from 4.71 to 30.57; short-term debt falls from €84,631 to €9,627.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 30 days late
2022
01-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 1 day late
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
27-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Tienen · 1 establishment unit since 1993
Ground area
1,747 m²
Building footprint
324 m²
Volume, LiDAR
1,932 m³
Parcel 24107A0214/00E002, Flanders · tallest building 16.3 m, ±1 floor. Linked by address, not a title deed.
9
companies at this address
See who is registered here
1 establishment unit
Leuvenselaan 473, 3300 Tienen
since 19932.062.572.861
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24107A0214/00E002 | Flanders | 1,747 m² | 1 · 324 m² | 16.3 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.
Identification & contact
Identification
Legal formPublic limited company
Founded28-05-1993
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0450240940
Registered
29-07-2024
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.