Summary
NELNO is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €500 and a net result of €83,892. Equity is shrinking by ~10.6% per year across the filed fiscal years. Its solvency ranks better than 9% of 8091 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 8091 sector peers (2025).
NBB · sector comparisonPosition among 8091 sector peers
Solvency
better than 9%
← 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 10-06-2026, 51 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
51 d early
2024
43 d early
2023
35 d early
2022
47 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 44 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed 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 16 June (4 of the last 4 filed years within 30 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, micro schema
Equity
€500▼ 99.0%
2024 · €50,092
Net result
€83,892▼ 7.3%
2024 · €90,500
Total assets
€202,313▼ 19.2%
2024 · €250,512
Solvency
0.2%▼ 19.7pp
2024 · 20.0%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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
Line2022202320242025
Operating result€91,933-€51,465▼ 44.0%€118,297▲ 130%€107,937▼ 8.8%
Net result€72,439within the sector's middle half-€39,618within the sector's middle half▼ 45.3%€90,500above the sector's middle half▲ 128%€83,892above the sector's middle half▼ 7.3%
Equity€36,939below the sector's middle half-€40,843within the sector's middle half▲ 10.6%€50,092within the sector's middle half▲ 22.6%€500below the sector's middle half▼ 99.0%
Total assets€106,777below the sector's middle half-€166,481within the sector's middle half▲ 55.9%€250,512within the sector's middle half▲ 50.5%€202,313within the sector's middle half▼ 19.2%
Debt€69,838-€125,639▲ 79.9%€200,420▲ 59.5%€201,813▲ 0.7%
Working capital€21,435within the sector's middle half-€24,720within the sector's middle half▲ 15.3%€80,857within the sector's middle half▲ 227%€31,473within the sector's middle half▼ 61.1%
Solvency34.6%within the sector's middle half-24.5%within the sector's middle half▼ 10.1pp20.0%below the sector's middle half▼ 4.5pp0.2%below the sector's middle half▼ 19.7pp
Current ratio1.31within the sector's middle half-1.33within the sector's middle half▲ 0.021.69within the sector's middle half▲ 0.361.24within the sector's middle half▼ 0.45
Return on assets (ROA)67.8%above the sector's middle half-23.8%within the sector's middle half▼ 44.0pp36.1%above the sector's middle half▲ 12.3pp41.5%above the sector's middle half▲ 5.3pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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 falls in 2025; 2025 is 9% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €202,313
Fixed assets
€39,641 ▼ 24.1%
Current assets
€162,671 ▼ 18.0%
Equity and liabilities €202,313
Equity
€500 ▼ 99.0%
Debt
€201,813 ▲ 0.7%
Debt's share of the balance-sheet total rises from 80.0% to 99.8%. Equity is lower and debt is higher.
Key figures and ratios
Debt ≤ 1 year
€131,198▲
2024 · €117,456
Debt > 1 year
€70,485▼
2024 · €82,963
Income taxes
€23,134▼
2024 · €25,306
Equity ratios withheld: equity of €500 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,982 | €2,812 | €13,835 | €13,905 | ▲ 0.5% |
| Other operating charges640/8 | €78 | €1,080 | €777 | €6,319 | ▲ 714% |
| Non-recurring operating charges66A | - | €1,140 | €0 | - | - |
| Gross operating margin9900 | €94,994 | €56,497 | €132,909 | €128,161 | ▼ 3.6% |
| Operating profit (loss)9901 | €91,933 | €51,465 | €118,297 | €107,937 | ▼ 8.8% |
| Financial income75/76B | - | €33 | €179 | €2,590 | ▲ 1,347% |
| Recurring financial income75 | - | €33 | €179 | €2,590 | ▲ 1,347% |
| Financial charges65/66B | €63 | €432 | €2,670 | €3,502 | ▲ 31.1% |
| Recurring financial charges65 | €63 | €432 | €2,670 | €3,502 | ▲ 31.1% |
| Profit (loss) for the period before taxes9903 | €91,870 | €51,065 | €115,806 | €107,025 | ▼ 7.6% |
| Income taxes67/77 | €19,430 | €11,448 | €25,306 | €23,134 | ▼ 8.6% |
| Profit (loss) for the period9904 | €72,439 | €39,618 | €90,500 | €83,892 | ▼ 7.3% |
| Profit (loss) for the period to be appropriated9905 | €72,439 | €39,618 | €90,500 | €83,892 | ▼ 7.3% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €106,777 | €166,481 | €250,512 | €202,313 | ▼ 19.2% |
| Fixed assets21/28 | €15,504 | €66,034 | €52,199 | €39,641 | ▼ 24.1% |
| Tangible fixed assets22/27 | €15,504 | €66,034 | €52,199 | €39,641 | ▼ 24.1% |
| Land and buildings22 | €1,816 | €1,616 | €1,416 | €1,216 | ▼ 14.1% |
| Furniture and vehicles24 | €13,687 | €64,418 | €50,783 | €38,425 | ▼ 24.3% |
| Current assets29/58 | €91,273 | €100,447 | €198,313 | €162,671 | ▼ 18.0% |
| Amounts receivable within one year40/41 | €18,288 | €586 | €91,504 | €95,387 | ▲ 4.2% |
| Trade receivables40 | €17,545 | €0 | - | €1,210 | - |
| Other amounts receivable41 | €743 | €586 | €91,504 | €94,177 | ▲ 2.9% |
| Cash at bank and in hand54/58 | €71,455 | €98,409 | €105,149 | €64,438 | ▼ 38.7% |
| Deferred charges and accrued income490/1 | €1,531 | €1,452 | €1,661 | €2,846 | ▲ 71.3% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €106,777 | €166,481 | €250,512 | €202,313 | ▼ 19.2% |
| Equity10/15 | €36,939 | €40,843 | €50,092 | €500 | ▼ 99.0% |
| Contributions10/11 | €500 | €500 | €500 | €500 | = |
| Reserves13 | €36,439 | €40,343 | €49,592 | €0 | ▼ 100% |
| Distributable reserves133 | €36,439 | €40,343 | €49,592 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €69,838 | €125,639 | €200,420 | €201,813 | ▲ 0.7% |
| Amounts payable after more than one year17 | - | €49,911 | €82,963 | €70,485 | ▼ 15.0% |
| Financial debts170/4 | - | €49,911 | €82,963 | €70,485 | ▼ 15.0% |
| Amounts payable within one year42/48 | €69,838 | €75,727 | €117,456 | €131,198 | ▲ 11.7% |
| Current portion of amounts payable after more than one year42 | - | €11,440 | €11,948 | €12,478 | ▲ 4.4% |
| Trade debts44 | €2,480 | €9,470 | €5,314 | €2,469 | ▼ 53.5% |
| Suppliers440/4 | €2,480 | €9,470 | €5,314 | €2,469 | ▼ 53.5% |
| Taxes, remuneration and social security45 | €31,358 | €19,103 | €50,195 | €36,723 | ▼ 26.8% |
| Taxes450/3 | €28,364 | €19,103 | €50,195 | €36,723 | ▼ 26.8% |
| Remuneration and social security454/9 | €2,994 | €0 | - | - | - |
| Other amounts payable47/48 | €36,000 | €35,714 | €50,000 | €79,528 | ▲ 59.1% |
| Accrued charges and deferred income492/3 | - | - | - | €129 | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €72,439 | €39,618 | €90,500 | €83,892 | ▼ 7.3% |
| + Depreciation and write-downs630 | €2,982 | €2,812 | €13,835 | €13,905 | ▲ 0.5% |
| Operating cash flow (approximation) | €75,422 | €42,430 | €104,335 | €97,797 | ▼ 6.3% |
| Investment in fixed assets (approximation) | - | -€53,343 | €0 | -€1,347 | - |
| Change in cash | - | €26,954 | €6,740 | -€40,711 | ▼ 704% |
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
03-09
State Gazette act
General meeting · Director appointment
Permanent representative · Other statement
10-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
18-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2022net €90,500 ▲128%
Operating result €118,297, net result €90,500, both a record.
26-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €39,618 ▼45.3%
Net result drops to €39,618, the lowest in the series; recovery starts the following year.
14-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneState Gazette actNBB 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, Kortrijk · 1 establishment unit since 2022
Ground area
969 m²
Building footprint
121 m²
Volume, LiDAR
1,170 m³
Parcel 34022E0547/00G012, Flanders · tallest building 14.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
NELNO
since 20222.326.758.794
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34022E0547/00G012 | Flanders | 969 m² | 1 · 121 m² | 14.0 m · 3 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.
Public money · subsidies and aid
Flemish government
2024 to 2025 · 2 entries · 3,147 EUR awarded · 5,089 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 3,147 EUR | 3,147 EUR |
| 2024 | 1 | 0 EUR | 1,942 EUR |
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,800. 595 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
Founded24-01-2022
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
70200Business and other management consultancy
73300Public relations and communication consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0780785167
Also
9925:BE0780785167
Registered
30-01-2025
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.