Equity
Equity fell by 99% in 1 year.
Equity fell by 99% in 1 year.
The micro format states no turnover.
Short-term debts rose from €40,829 to €693,993.
The last four annual accounts were filed 13 to 101 days before the end of the period.
Higher net result than 95% of companies in publishing. Sector median €6,257 · 822 companies.
The dashed line is the sector median: 0.1% across 1,282 companies (NACE 58, micro).
About 1 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 58, micro). It does better than 20% of them on solvency, 39% on liquidity, 81% on profitability and 5% 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, 513 companies had the same profile as NEOGY has now. Each dot stands for 2 companies, two years later.
The bankruptcy probability of NEOGY itself is lower: 0.1% within 12 months. It rests on far more data about NEOGY than the profile alone.
The method was tested on the 497,447 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 513 companies, not a prediction for NEOGY. 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.
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 4 accounts on average 40 days before the deadline. In the sector (NACE 58), the median for financial year 2024 was 7 days before the deadline, and 37% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| NEOGY Namur | €0.7m | €185,499 | 0.7% | - |
| Mantis Robotics Leuven | €0.6m | €201,474 | -91.0% | 10.6 |
| INDY GAMES Oupeye | €0.6m | €173,891 | 10.7% | - |
| Signage & Music Services Europe Hasselt | €0.6m | €203,506 | 49.0% | 1.5 |
| Leap Technologies Ghent | €0.5m | €185,300 | 84.8% | - |
| Intelli-Select Etterbeek | €0.5m | €302,736 | 79.4% | 2.9 |
| TRIGRR La Hulpe | €1.0m | €327,474 | -29.1% | - |
These companies have the same main activity as NEOGY: other software publishing (NACE 58290). They are comparable in size and age: total assets between €475,000 and €1m, founded between 2021 and 2023.
NEOGY files the micro format. That format states no turnover. The gross margin fell from €286,066 in 2022 to €185,499 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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