NesCon
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 13-04-2026 PDF all 22 filings
Turnover
≈ €170,000
Estimated: probably between €150,000 and €210,000
Total assets
€458,936▲ 1.4%
2024 · €452,569
Net result
€73,979▼ 11.1%
2024 · €83,222
Working capital
€382,073▲ 23.0%
2024 · €310,503
In the rankings
#2 company by equity in Dilsen-Stokkem, Telecoms and IT sector#3 oldest company in Dilsen-Stokkem, Telecoms and IT sector#4 company by total assets in Dilsen-Stokkem, Telecoms and IT sector
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€93,341
▼ 12.4%
2025
20192025
Net result
€73,979
▼ 11.1%
2025
highest quarter of the sector
20192025
Equity
€382,238
▲ 23.7%
2025
highest quarter of the sector
20192025
Total assets
€458,936
▲ 1.4%
2025
highest quarter of the sector
20192025
Debt
€54,114
▼ 55.2%
2025
20192025
Working capital
€382,073
▲ 23.0%
2025
highest quarter of the sector
20192025
Solvency
83.3%
▲ 15.0pp
2025
highest quarter of the sector
20192025
Current ratio
12.33
▲ 7.84
2025
highest quarter of the sector
20192025
Return on assets (ROA)
16.1%
▼ 2.3pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€64,974-€66,755▲ 2.7%€35,534▼ 46.8%€72,106▲ 103%€34,796▼ 51.7%€106,571▲ 206%€93,341▼ 12.4%
Net result€49,425-€52,422above the sector's middle half▲ 6.1%€27,461within the sector's middle half▼ 47.6%€53,990above the sector's middle half▲ 96.6%€30,298within the sector's middle half▼ 43.9%€83,222above the sector's middle half▲ 175%€73,979above the sector's middle half▼ 11.1%
Equity€135,674-€187,297above the sector's middle half▲ 38.0%€213,958above the sector's middle half▲ 14.2%€267,148above the sector's middle half▲ 24.9%€276,180above the sector's middle half▲ 3.4%€309,118above the sector's middle half▲ 11.9%€382,238above the sector's middle half▲ 23.7%
Total assets€232,545-€269,526within the sector's middle half▲ 15.9%€283,808within the sector's middle half▲ 5.3%€339,462above the sector's middle half▲ 19.6%€388,388above the sector's middle half▲ 14.4%€452,569above the sector's middle half▲ 16.5%€458,936above the sector's middle half▲ 1.4%
Debt€74,286-€59,645▼ 19.7%€47,266▼ 20.8%€49,729▲ 5.2%€89,624▲ 80.2%€120,867▲ 34.9%€54,114▼ 55.2%
Working capital€158,797-€207,031above the sector's middle half▲ 30.4%€232,154above the sector's middle half▲ 12.1%€282,419above the sector's middle half▲ 21.7%€278,636above the sector's middle half▼ 1.3%€310,503above the sector's middle half▲ 11.4%€382,073above the sector's middle half▲ 23.0%
Solvency58.3%-69.5%within the sector's middle half▲ 11.1pp75.4%within the sector's middle half▲ 5.9pp78.7%within the sector's middle half▲ 3.3pp71.1%within the sector's middle half▼ 7.6pp68.3%within the sector's middle half▼ 2.8pp83.3%above the sector's middle half▲ 15.0pp
Current ratio6.07-10.96above the sector's middle half▲ 4.8919.67above the sector's middle half▲ 8.7115.83above the sector's middle half▼ 3.847.11above the sector's middle half▼ 8.724.49within the sector's middle half▼ 2.6212.33above the sector's middle half▲ 7.84
Return on assets (ROA)21.3%-19.4%within the sector's middle half▼ 1.8pp9.7%within the sector's middle half▼ 9.8pp15.9%within the sector's middle half▲ 6.2pp7.8%within the sector's middle half▼ 8.1pp18.4%within the sector's middle half▲ 10.6pp16.1%within the sector's middle half▼ 2.3pp
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 12% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €458,936
Fixed assets
€43,138 ▼ 18.9%
Current assets
€415,798 ▲ 4.1%
Equity and liabilities €458,936
Equity
€382,238 ▲ 23.7%
Provisions
€22,585 =
Debt
€54,114 ▼ 55.2%
Debt's share of the balance-sheet total falls from 26.7% to 11.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€104,373▼
2024 · €117,543
Cash flow
€85,011▼
2024 · €94,194
Debt to equity
0.14▼
2024 · 0.39
ROE
19.4%▼
2024 · 26.9%
Interest coverage
62.57▲
2024 · 59.02
Debt ≤ 1 year
€33,726▼
2024 · €88,889
Debt > 1 year
€19,776▼
2024 · €31,978
Income taxes
€30,426▼
2024 · €34,976
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €790 | €36,223 | - | €993 |
| Financial fixed assets | - | - | €336 | - | - |
| Depreciation and write-downs of the year | €2,494 | €2,014 | €10,239 | €10,972 | €11,032 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €4,000 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,026 | €2,105 | €2,494 | €2,014 | €10,239 | €10,972 | €11,032 | ▲ 0.5% |
| Other operating charges640/8 | - | - | €1,143 | €3,803 | €4,654 | €6,557 | €6,504 | ▼ 0.8% |
| Non-recurring operating charges66A | - | - | - | - | €166 | €0 | - | - |
| Gross operating margin9900 | €68,698 | €69,987 | €39,171 | €77,922 | €49,855 | €124,100 | €110,877 | ▼ 10.7% |
| Operating profit (loss)9901 | €64,974 | €66,755 | €35,534 | €72,106 | €34,796 | €106,571 | €93,341 | ▼ 12.4% |
| Financial income75/76B | - | - | €5,003 | €7,489 | €11,046 | €13,618 | €12,732 | ▼ 6.5% |
| Recurring financial income75 | €6,474 | €8,356 | €5,003 | €7,489 | €11,046 | €13,618 | €12,732 | ▼ 6.5% |
| Financial charges65/66B | - | - | €2,221 | €1,862 | €2,173 | €1,991 | €1,668 | ▼ 16.2% |
| Recurring financial charges65 | €2,743 | €2,201 | €2,221 | €1,862 | €2,173 | €1,991 | €1,668 | ▼ 16.2% |
| Profit (loss) for the period before taxes9903 | €68,705 | €72,910 | €38,316 | €77,732 | €43,669 | €118,197 | €104,405 | ▼ 11.7% |
| Income taxes67/77 | €19,280 | €20,487 | €10,855 | €23,742 | €13,371 | €34,976 | €30,426 | ▼ 13.0% |
| Profit (loss) for the period9904 | €49,425 | €52,422 | €27,461 | €53,990 | €30,298 | €83,222 | €73,979 | ▼ 11.1% |
| Transfer from tax-exempt reserves789 | - | - | - | €8,221 | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €49,425 | €52,422 | €27,461 | €62,211 | €30,298 | €83,222 | €73,979 | ▼ 11.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €232,545 | €269,526 | €283,808 | €339,462 | €388,388 | €452,569 | €458,936 | ▲ 1.4% |
| Fixed assets21/28 | €42,417 | €41,714 | €39,220 | €37,996 | €64,150 | €53,177 | €43,138 | ▼ 18.9% |
| Tangible fixed assets22/27 | €42,417 | €41,714 | €39,220 | €37,996 | €63,814 | €52,841 | €42,802 | ▼ 19.0% |
| Land and buildings22 | - | - | €38,364 | €36,818 | €35,273 | €33,727 | €32,182 | ▼ 4.6% |
| Furniture and vehicles24 | - | - | €856 | €1,178 | €28,541 | €19,114 | €10,620 | ▼ 44.4% |
| Financial fixed assets28 | - | - | - | - | €336 | €336 | €336 | = |
| Current assets29/58 | €190,129 | €227,813 | €244,589 | €301,465 | €324,238 | €399,391 | €415,798 | ▲ 4.1% |
| Amounts receivable within one year40/41 | €161,307 | €191,847 | €206,115 | €222,674 | €242,114 | €251,835 | €233,424 | ▼ 7.3% |
| Trade receivables40 | - | - | €17,491 | €20,074 | €9,716 | €18,461 | €18,679 | ▲ 1.2% |
| Other amounts receivable41 | - | - | €188,625 | €202,600 | €232,397 | €233,374 | €214,745 | ▼ 8.0% |
| Cash at bank and in hand54/58 | €27,723 | €35,027 | €35,753 | €77,080 | €81,011 | €146,432 | €181,941 | ▲ 24.2% |
| Deferred charges and accrued income490/1 | - | - | €2,720 | €1,712 | €1,114 | €1,125 | €434 | ▼ 61.4% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €232,545 | €269,526 | €283,808 | €339,462 | €388,388 | €452,569 | €458,936 | ▲ 1.4% |
| Equity10/15 | €135,674 | €187,297 | €213,958 | €267,148 | €276,180 | €309,118 | €382,238 | ▲ 23.7% |
| Contributions10/11 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €79,967 | €132,389 | €159,851 | €213,841 | €223,672 | €257,470 | €331,449 | ▲ 28.7% |
| Non-distributable reserves130/1 | - | - | €1,855 | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Reserves not available under the articles1311 | - | - | €1,855 | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Tax-exempt reserves132 | - | - | €8,221 | €0 | - | - | - | - |
| Distributable reserves133 | - | - | €149,775 | €211,986 | €221,817 | €255,615 | €329,594 | ▲ 28.9% |
| Profit (loss) carried forward14 | €43,307 | €42,507 | €41,707 | €40,907 | €40,107 | €39,248 | €38,389 | ▼ 2.2% |
| Provisions and deferred taxes16 | €22,585 | €22,585 | €22,585 | €22,585 | €22,585 | €22,585 | €22,585 | = |
| Provisions for liabilities and charges160/5 | - | - | €22,585 | €22,585 | €22,585 | €22,585 | €22,585 | = |
| Pensions and similar obligations160 | - | - | €22,585 | €22,585 | €22,585 | €22,585 | €22,585 | = |
| Amounts payable17/49 | €74,286 | €59,645 | €47,266 | €49,729 | €89,624 | €120,867 | €54,114 | ▼ 55.2% |
| Amounts payable after more than one year17 | €42,955 | €38,864 | €34,773 | €30,682 | €44,022 | €31,978 | €19,776 | ▼ 38.2% |
| Financial debts170/4 | - | - | €34,773 | €30,682 | €44,022 | €31,978 | €19,776 | ▼ 38.2% |
| Amounts payable within one year42/48 | €31,332 | €20,782 | €12,435 | €19,047 | €45,602 | €88,889 | €33,726 | ▼ 62.1% |
| Current portion of amounts payable after more than one year42 | - | - | €4,091 | €4,091 | €11,888 | €12,044 | €12,202 | ▲ 1.3% |
| Financial debts43 | - | - | €0 | - | €720 | €0 | - | - |
| Credit institutions430/8 | - | - | €0 | - | €720 | €0 | - | - |
| Trade debts44 | €1,204 | €1,644 | €673 | €1,060 | €3,240 | €2,050 | €660 | ▼ 67.8% |
| Suppliers440/4 | - | - | €673 | €1,060 | €3,240 | €2,050 | €660 | ▼ 67.8% |
| Taxes, remuneration and social security45 | - | - | €6,871 | €13,096 | €8,486 | €24,511 | €20,005 | ▼ 18.4% |
| Taxes450/3 | - | - | €6,871 | €13,096 | €8,486 | €24,511 | €20,005 | ▼ 18.4% |
| Other amounts payable47/48 | - | - | €800 | €800 | €21,267 | €50,284 | €859 | ▼ 98.3% |
| Accrued charges and deferred income492/3 | - | - | €58 | €0 | - | - | €612 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €49,425 | €52,422 | €27,461 | €53,990 | €30,298 | €83,222 | €73,979 | ▼ 11.1% |
| + Depreciation and write-downs630 | €2,026 | €2,105 | €2,494 | €2,014 | €10,239 | €10,972 | €11,032 | ▲ 0.5% |
| Operating cash flow (approximation) | €51,451 | €54,527 | €29,955 | €56,004 | €40,537 | €94,194 | €85,011 | ▼ 9.7% |
| Investment in fixed assets (approximation) | - | -€1,402 | €0 | -€790 | -€36,392 | €0 | -€993 | - |
| Change in cash | - | €7,304 | €726 | €41,326 | €3,931 | €65,421 | €35,509 | ▼ 45.7% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 20,136 companies had the same profile as NesCon has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
That fits the bankruptcy probability of NesCon itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 20,136 companies, not a prediction for NesCon. 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.
Latest 10 of 22 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 13-04-2026 | 2026-00079300 | |
| 30-09-2024 | micro format | 23-04-2025 | 2025-00074973 | |
| 30-09-2023 | micro format | 25-03-2024 | 2024-00049889 | |
| 30-09-2022 | micro format | 20-03-2023 | 2023-00042923 | |
| 30-09-2021 | micro format | 04-04-2022 | 2022-20000615 | |
| 30-09-2020 | micro format | 22-04-2021 | 2021-11000306 | |
| 30-09-2019 | micro format | 24-03-2020 | 2020-07500401 | |
| 30-09-2018 | micro format | 19-04-2019 | 2019-10400128 | |
| 30-09-2017 | micro format | 27-04-2018 | 2018-11600497 | |
| 30-09-2016 | abbreviated format | 27-04-2017 | 2017-10000525 |