NESTAR
ActiveSummary
NESTAR has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €58,939 and a net result of €20,306. Equity is growing by ~19.2% per year across the filed fiscal years. Its solvency ranks better than 56% of 9537 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability95=
Solvency85▼-5
Growth78=
Track record94
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity ample (current ratio 2.41 against 2.68 in 2024; short-term debt: 39.6% and cash: 76.9% of total assets), and 39.6% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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
60.4%
Return on assets
20.8%
Age of the figures
9 mo
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 01-06-2026, 60 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
60 d early
2024
28 d early
2023
30 d early
2022
28 d early
2021
25 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 34 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
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Financials · fiscal year 2025, micro schema
Equity
€58,939▼ 14.1%
2024 · €68,634
Total assets
€97,614▼ 7.8%
2024 · €105,872
Net result
€20,306▼ 8.8%
2024 · €22,255
Working capital
€54,601▼ 12.6%
2024 · €62,442
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, 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
Line20212022202320242025
Operating result€19,853-€33,866▲ 70.6%€22,992▼ 32.1%€29,951▲ 30.3%€27,360▼ 8.7%
Net result€15,088within the sector's middle half-€25,817within the sector's middle half▲ 71.1%€17,474within the sector's middle half▼ 32.3%€22,255within the sector's middle half▲ 27.4%€20,306within the sector's middle half▼ 8.8%
Equity€18,088below the sector's middle half-€43,905within the sector's middle half▲ 143%€61,379within the sector's middle half▲ 39.8%€68,634within the sector's middle half▲ 11.8%€58,939within the sector's middle half▼ 14.1%
Total assets€35,084below the sector's middle half-€64,895below the sector's middle half▲ 85.0%€82,549within the sector's middle half▲ 27.2%€105,872within the sector's middle half▲ 28.3%€97,614within the sector's middle half▼ 7.8%
Debt€16,996-€20,990▲ 23.5%€21,171▲ 0.9%€37,238▲ 75.9%€38,675▲ 3.9%
Working capital€17,190-€43,324▲ 152%€57,759▲ 33.3%€62,442▲ 8.1%€54,601▼ 12.6%
Solvency51.6%within the sector's middle half-67.7%within the sector's middle half▲ 16.1pp74.4%within the sector's middle half▲ 6.7pp64.8%within the sector's middle half▼ 9.5pp60.4%within the sector's middle half▼ 4.4pp
above
within
below
the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, 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 €97,614
Fixed assets
€4,338 ▼ 29.9%
Current assets
€93,276 ▼ 6.4%
Equity and liabilities €97,614
Equity
€58,939 ▼ 14.1%
Debt
€38,675 ▲ 3.9%
Debt's share of the balance-sheet total rises from 35.2% to 39.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€29,213▼
2024 · €31,395
Cash flow
€22,159▼
2024 · €23,698
Current ratio
2.41▼
2024 · 2.68
Debt to equity
0.66▲
2024 · 0.54
ROE
34.5%▲
2024 · 32.4%
ROA
20.8%▼
2024 · 21.0%
Interest coverage
723.09▲
2024 · 367.36
Debt ≤ 1 year
€38,675▲
2024 · €37,238
Income taxes
€7,014▼
2024 · €7,611
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
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 0.5% 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 26,970 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,731 | €317 | €401 | €1,444 | €1,853 | ▲ 28.3% |
| Other operating charges640/8 | €695 | €569 | €384 | €795 | €144 | ▼ 81.9% |
| Gross operating margin9900 | €22,279 | €34,752 | €23,777 | €32,189 | €29,357 | ▼ 8.8% |
| Operating profit (loss)9901 | €19,853 | €33,866 | €22,992 | €29,951 | €27,360 | ▼ 8.7% |
| Financial charges65/66B | €55 | €39 | €86 | €85 | €40 | ▼ 52.7% |
| Recurring financial charges65 | €55 | €39 | €86 | €85 | €40 | ▼ 52.7% |
| Profit (loss) for the period before taxes9903 | €19,798 | €33,827 | €22,906 | €29,865 | €27,319 | ▼ 8.5% |
| Income taxes67/77 | €4,710 | €8,010 | €5,432 | €7,611 | €7,014 | ▼ 7.8% |
| Profit (loss) for the period9904 | €15,088 | €25,817 | €17,474 | €22,255 | €20,306 | ▼ 8.8% |
| Profit (loss) for the period to be appropriated9905 | €15,088 | €25,817 | €17,474 | €22,255 | €20,306 | ▼ 8.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €35,084 | €64,895 | €82,549 | €105,872 | €97,614 | ▼ 7.8% |
| Fixed assets21/28 | €898 | €581 | €3,620 | €6,191 | €4,338 | ▼ 29.9% |
| Tangible fixed assets22/27 | €898 | €581 | €3,620 | €6,191 | €4,338 | ▼ 29.9% |
| Land and buildings22 | - | - | €1,701 | €1,528 | €1,355 | ▼ 11.3% |
| Plant, machinery and equipment23 | €898 | €581 | €265 | €3,350 | €2,012 | ▼ 39.9% |
| Furniture and vehicles24 | - | - | €1,655 | €1,313 | €971 | ▼ 26.0% |
| Current assets29/58 | €34,186 | €64,314 | €78,929 | €99,680 | €93,276 | ▼ 6.4% |
| Amounts receivable within one year40/41 | €8,504 | €18,631 | €18,790 | €21,250 | €17,738 | ▼ 16.5% |
| Trade receivables40 | €8,504 | €18,626 | €18,790 | €21,244 | €12,752 | ▼ 40.0% |
| Other amounts receivable41 | - | €5 | - | €6 | €4,986 | ▲ 76,846% |
| Cash at bank and in hand54/58 | €24,852 | €45,065 | €59,583 | €77,936 | €75,105 | ▼ 3.6% |
| Deferred charges and accrued income490/1 | €830 | €618 | €556 | €494 | €432 | ▼ 12.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €35,084 | €64,895 | €82,549 | €105,872 | €97,614 | ▼ 7.8% |
| Equity10/15 | €18,088 | €43,905 | €61,379 | €68,634 | €58,939 | ▼ 14.1% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | €7,500 | €19,750 | €28,500 | €39,500 | €55,000 | ▲ 39.2% |
| Distributable reserves133 | €7,500 | €19,750 | €28,500 | €39,500 | €55,000 | ▲ 39.2% |
| Profit (loss) carried forward14 | €7,588 | €21,155 | €29,879 | €26,134 | €939 | ▼ 96.4% |
| Amounts payable17/49 | €16,996 | €20,990 | €21,171 | €37,238 | €38,675 | ▲ 3.9% |
| Amounts payable within one year42/48 | €16,996 | €20,990 | €21,171 | €37,238 | €38,675 | ▲ 3.9% |
| Trade debts44 | €48 | €402 | €56 | €233 | €87 | ▼ 62.8% |
| Suppliers440/4 | €48 | €402 | €56 | €233 | €87 | ▼ 62.8% |
| Taxes, remuneration and social security45 | €16,748 | €20,389 | €20,915 | €21,806 | €8,468 | ▼ 61.2% |
| Taxes450/3 | €11,410 | €15,031 | €18,171 | €19,046 | €8,468 | ▼ 55.5% |
| Remuneration and social security454/9 | €5,338 | €5,358 | €2,744 | €2,760 | €0 | ▼ 100% |
| Other amounts payable47/48 | €199 | €199 | €199 | €15,199 | €30,121 | ▲ 98.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,088 | €25,817 | €17,474 | €22,255 | €20,306 | ▼ 8.8% |
| + Depreciation and write-downs630 | €1,731 | €317 | €401 | €1,444 | €1,853 | ▲ 28.3% |
| Operating cash flow (approximation) | €16,819 | €26,133 | €17,875 | €23,698 | €22,159 | ▼ 6.5% |
| Investment in fixed assets (approximation) | - | €0 | -€3,440 | -€4,015 | €0 | ▲ 100% |
| Change in cash | - | €20,213 | €14,518 | €18,353 | -€2,831 | ▼ 115% |
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
01-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2021net €25,817 ▲71.1%
Operating result €33,866, net result €25,817, both a record.
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Gent · 1 establishment unit since 2020
Ground area
663 m²
Building footprint
104 m²
Parcel 44432C0524/00N004, Flanders. Linked by address, not a title deed.
1 establishment unit
NESTAR
since 20202.308.827.949
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44432C0524/00N004 | Flanders | 663 m² | 1 · 104 m² | - |
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.
Similar companies · same sector, comparable size
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Of 18,250 companies in sector 71111 we hold annual accounts for 6,321. 5,423 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
Founded16-10-2020
Fiscal year end31-12
Activities, NACEBEL 2025
71111Activities of building architects
E-invoicing
Reachable via Peppol
Peppol ID
0208:0756660178
Also
9925:BE0756660178
Registered
15-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.