NEPEC
ActiveSummary
NEPEC has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€90,491) and a net result of -€59,095. The figures fluctuate too strongly year-on-year for a reliable trend projection. The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability14▼-17
Solvency15▼-7
Growth78=
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.14 against 0.19 in 2024; short-term debt: 66.6% and cash: 1.4% of total assets), and equity is negative.
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Signals
Seven 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-10.2%
Return on assets
-6.7%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€90,491
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 19-08-2026, 19 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
19 d late
2024
13 d late
2023
12 d late
2022
26 d early
2021
2 d early
2020
2 d early
2019
53 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 10 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.
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, abbreviated schema
Equity
-€90,491▼ 188%
2024 · -€31,396
Total assets
€885,156▼ 5.2%
2024 · €934,167
Net result
-€59,095▼ 79.0%
2024 · -€33,018
Working capital
-€505,691▼ 8.4%
2024 · -€466,611
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-€16,221▲ 49.5%€159,961-€29,908-€16,168▲ 45.9%-€45,994▼ 184%
Net result€152,427€132,452▼ 13.1%-€55,406-€33,018▲ 40.4%-€59,095▼ 79.0%
Equity-€75,424▲ 66.9%€57,028€1,622▼ 97.2%-€31,396-€90,491▼ 188%
Total assets€1.1m▲ 1.1%€1.1m▲ 0.1%€989,364▼ 13.6%€934,167▼ 5.6%€885,156▼ 5.2%
Debt€1.2m▲ 5.1%€1.1m▼ 10.9%€967,821▼ 9.4%€946,082▼ 2.2%€956,605▲ 1.1%
Working capital-€263,369▼ 506%-€232,049▲ 11.9%-€395,522▼ 70.4%-€466,611▼ 18.0%-€505,691▼ 8.4%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €45,994 in 2025 against €16,168 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €885,156
Fixed assets
€801,271 ▼ 3.0%
Current assets
€83,885 ▼ 22.7%
Key figures and ratios
EBITDA
€6,204▼
2024 · €35,114
Cash flow
-€6,897▼
2024 · €18,264
Solvency
-10.2%▼
2024 · -3.4%
Current ratio
0.14▼
2024 · 0.19
Quick ratio
0.10▼
2024 · 0.15
Debt to equity
-10.57▲
2024 · -30.13
ROA
-6.7%▼
2024 · -3.5%
Interest coverage
0.46▼
2024 · 2.03
Debt ≤ 1 year
€589,576▲
2024 · €575,094
Debt > 1 year
€326,014▼
2024 · €334,801
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,242 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 93% are still going.
- Small
- 20 years or older
- negative equity
- a small loss
1.6%
went bankrupt
3.8%
stopped otherwise
93%
still going
A further 1.9% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.4% 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 1,242 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 | €15,000 | €180,000 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €61,550 | €56,544 | €54,365 | €51,282 | €52,198 | ▲ 1.8% |
| Other operating charges640/8 | €6,086 | €3,729 | €7,901 | €8,565 | €5,323 | ▼ 37.9% |
| Non-recurring operating charges66A | - | - | - | - | €16,630 | - |
| Gross operating margin9900 | €51,415 | €220,234 | €32,358 | €43,679 | €28,158 | ▼ 35.5% |
| Operating profit (loss)9901 | -€16,221 | €159,961 | -€29,908 | -€16,168 | -€45,994 | ▼ 184% |
| Financial income75/76B | - | €121 | €402 | - | - | - |
| Recurring financial income75 | - | €121 | €402 | - | - | - |
| Financial charges65/66B | €29,984 | €28,069 | €26,339 | €17,289 | €13,541 | ▼ 21.7% |
| Recurring financial charges65 | €29,984 | €28,069 | €26,339 | €17,289 | €13,541 | ▼ 21.7% |
| Profit (loss) for the period before taxes9903 | -€46,205 | €132,013 | -€55,845 | -€33,457 | -€59,535 | ▼ 77.9% |
| Transfer from deferred taxes780 | €198,632 | €439 | €439 | €439 | €439 | = |
| Profit (loss) for the period9904 | €152,427 | €132,452 | -€55,406 | -€33,018 | -€59,095 | ▼ 79.0% |
| Transfer from tax-exempt reserves789 | €102,861 | €1,757 | €1,757 | €1,757 | €1,757 | = |
| Profit (loss) for the period to be appropriated9905 | €255,288 | €134,210 | -€53,648 | -€31,260 | -€57,338 | ▼ 83.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.1m | €1.1m | €989,364 | €934,167 | €885,156 | ▼ 5.2% |
| Fixed assets21/28 | €978,896 | €922,351 | €871,453 | €825,684 | €801,271 | ▼ 3.0% |
| Tangible fixed assets22/27 | €978,896 | €922,351 | €871,453 | €825,684 | €801,271 | ▼ 3.0% |
| Land and buildings22 | €907,387 | €859,705 | €815,667 | €774,194 | €726,462 | ▼ 6.2% |
| Plant, machinery and equipment23 | - | - | - | - | €25,153 | - |
| Furniture and vehicles24 | €49,365 | €49,365 | €49,365 | €49,365 | €49,365 | = |
| Other tangible fixed assets26 | €22,143 | €13,282 | €6,421 | €2,124 | €290 | ▼ 86.3% |
| Current assets29/58 | €165,483 | €223,274 | €117,910 | €108,483 | €83,885 | ▼ 22.7% |
| Stocks and contracts in progress3 | €23,210 | €23,210 | €23,210 | €23,210 | €23,210 | = |
| Stocks30/36 | €23,210 | €23,210 | €23,210 | €23,210 | €23,210 | = |
| Amounts receivable within one year40/41 | €136,420 | €120,434 | €75,785 | €75,785 | €44,785 | ▼ 40.9% |
| Other amounts receivable41 | €136,420 | €120,434 | €75,785 | €75,785 | €44,785 | ▼ 40.9% |
| Cash at bank and in hand54/58 | €2,544 | €71,596 | €10,518 | €1,848 | €12,581 | ▲ 581% |
| Deferred charges and accrued income490/1 | €3,310 | €8,034 | €8,398 | €7,640 | €3,310 | ▼ 56.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.1m | €1.1m | €989,364 | €934,167 | €885,156 | ▼ 5.2% |
| Equity10/15 | -€75,424 | €57,028 | €1,622 | -€31,396 | -€90,491 | ▼ 188% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €46,592 | €44,835 | €43,078 | €41,320 | €39,563 | ▼ 4.3% |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €6,200 | - |
| Tax-exempt reserves132 | €40,392 | €38,635 | €36,878 | €35,120 | €33,363 | ▼ 5.0% |
| Profit (loss) carried forward14 | -€184,017 | -€49,807 | -€103,455 | -€134,716 | -€192,054 | ▼ 42.6% |
| Provisions and deferred taxes16 | €20,799 | €20,360 | €19,920 | €19,481 | €19,042 | ▼ 2.3% |
| Deferred taxes168 | €20,799 | €20,360 | €19,920 | €19,481 | €19,042 | ▼ 2.3% |
| Amounts payable17/49 | €1.2m | €1.1m | €967,821 | €946,082 | €956,605 | ▲ 1.1% |
| Amounts payable after more than one year17 | €756,851 | €592,184 | €423,672 | €334,801 | €326,014 | ▼ 2.6% |
| Financial debts170/4 | €756,851 | €592,184 | €423,672 | €334,801 | €326,014 | ▼ 2.6% |
| Amounts payable within one year42/48 | €428,853 | €455,323 | €513,433 | €575,094 | €589,576 | ▲ 2.5% |
| Current portion of amounts payable after more than one year42 | €161,336 | €169,955 | €173,948 | €14,269 | €14,532 | ▲ 1.8% |
| Financial debts43 | €3,880 | €3,880 | €1,500 | €1,500 | €1,500 | = |
| Credit institutions430/8 | €3,880 | €3,880 | €1,500 | €1,500 | €1,500 | = |
| Trade debts44 | €27,082 | €45,149 | €38,575 | €43,675 | €26,614 | ▼ 39.1% |
| Suppliers440/4 | €27,082 | €45,149 | €38,575 | €43,675 | €26,614 | ▼ 39.1% |
| Other amounts payable47/48 | €236,554 | €236,338 | €299,410 | €515,651 | €546,931 | ▲ 6.1% |
| Accrued charges and deferred income492/3 | €13,301 | €20,731 | €30,716 | €36,186 | €41,015 | ▲ 13.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €152,427 | €132,452 | -€55,406 | -€33,018 | -€59,095 | ▼ 79.0% |
| + Depreciation and write-downs630 | €61,550 | €56,544 | €54,365 | €51,282 | €52,198 | ▲ 1.8% |
| Operating cash flow (approximation) | €213,978 | €188,996 | -€1,041 | €18,264 | -€6,897 | ▼ 138% |
| Investment in fixed assets (approximation) | - | €0 | -€3,467 | -€5,512 | -€27,785 | ▼ 404% |
| Change in cash | - | €69,052 | -€61,079 | -€8,669 | €10,732 | ▲ 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
19-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 19 days late
2025
13-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 13 days late
2024
12-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 12 days late
2023
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €152,427
Net result €152,427 after 3 loss-making years.
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
22-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 53 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
11-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
26-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 57 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Brussel · 1 establishment unit since 1985
Ground area
216 m²
Building footprint
177 m²
Volume, LiDAR
3,342 m³
Parcel 21812N1439/00K000, Brussels · tallest building 21.0 m, ±7 floors. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
Antwerpselaan 38, 1000 Brussel
since 19852.102.497.170
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21812N1439/00K000 | Brussels | 216 m² | 1 · 177 m² | 21.0 m · 7 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Identification & contact
Identification
Legal formPublic limited company
Founded07-02-1985
Fiscal year end31-12
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
What can you do?
Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.
If the customer is not ready yet, you may send the invoice another way, for example as a PDF; if electronically, with their agreement on a secure alternative. That invoice is valid; the customer risks a penalty. FPS Finance
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.