NEVER
ActiveSummary
NEVER has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.3m and a net result of -€172,065. Equity is growing by ~12.2% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability65▼-1
Solvency91▼-9
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €300,000 at 30 days acceptable
Liquidity short (current ratio 0.05 against 4.64 in 2024; short-term debt: 15.6% and cash: 0.6% of total assets), and 34.4% of the assets are financed with debt.
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Signals
Six 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
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
65.6%
Return on assets
-2.6%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€172,065
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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
28 d late
2024
11 d late
2023
75 d late
2022
60 d late
2021
12 d late
2020
40 d late
2019
9 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 31 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. Usually files around 28 August (4 of the last 5 filed years within 32 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, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€172,065▼ 38.3%
2024 · -€124,454
Working capital
-€972,494
2024 · €377,597
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€5.2m-€120,990-€47,878▲ 60.4%-€171,222▼ 258%-€214,490▼ 25.3%
Net result€3.9m-€95,007-€4,346▲ 95.4%-€124,454▼ 2,764%-€172,065▼ 38.3%
Equity€4.7m▲ 463%€4.6m▼ 2.0%€4.6m▼ 0.1%€4.5m▼ 2.7%€4.3m▼ 3.8%
Total assets€6.0m▲ 595%€5.9m▼ 1.8%€5.9m=€5.9m▼ 0.9%€6.6m▲ 12.0%
Debt€168▼ 99.4%€150▼ 11.0%€5,322▲ 3,455%€103,975▲ 1,854%€1.0m▲ 882%
Working capital€5.5m▲ 1,123%€5.3m▼ 4.4%€1.9m▼ 64.5%€377,597▼ 79.8%-€972,494
Staff (FTE)0
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €214,490 in 2025 against €171,222 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 €6.6m
Fixed assets
€6.5m ▲ 21.2%
Current assets
€48,653 ▼ 89.9%
Equity and liabilities €6.6m
Equity
€4.3m ▼ 3.8%
Provisions
€1.2m ▼ 3.1%
Debt
€1.0m ▲ 882%
Debt's share of the balance-sheet total rises from 1.8% to 15.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€13,804▲
2024 · €10,158
Cash flow
€56,230▼
2024 · €56,926
Current ratio
0.05▼
2024 · 4.64
Debt to equity
0.24▲
2024 · 0.02
ROE
-4.0%▼
2024 · -2.8%
ROA
-2.6%▼
2024 · -2.1%
Interest coverage
15.01▲
2024 · 9.61
Debt ≤ 1 year
€1.0m▲
2024 · €103,744
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 825 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 96% are still going.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a small loss
0.6%
went bankrupt
2.8%
stopped otherwise
96%
still going
A further 0.1% 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 825 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 | €5.3m | - | €32,583 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23,770 | €54,624 | €74,877 | €181,380 | €228,295 | ▲ 25.9% |
| Other operating charges640/8 | €29,504 | €48,322 | €5,819 | €12,227 | €15,953 | ▲ 30.5% |
| Gross operating margin9900 | €5.2m | -€18,045 | €32,818 | €22,385 | €29,757 | ▲ 32.9% |
| Operating profit (loss)9901 | €5.2m | -€120,990 | -€47,878 | -€171,222 | -€214,490 | ▼ 25.3% |
| Financial income75/76B | €17,539 | €28,266 | €46,201 | €20,761 | €3,373 | ▼ 83.8% |
| Recurring financial income75 | €17,539 | €28,266 | €46,201 | €20,761 | €3,373 | ▼ 83.8% |
| Financial charges65/66B | €6,898 | €14,632 | €5,647 | €1,057 | €919 | ▼ 13.0% |
| Recurring financial charges65 | €6,898 | €14,632 | €5,647 | €1,057 | €919 | ▼ 13.0% |
| Profit (loss) for the period before taxes9903 | €5.2m | -€107,356 | -€7,323 | -€151,517 | -€212,037 | ▼ 39.9% |
| Transfer from deferred taxes780 | €2,398 | €12,344 | €2,977 | €27,064 | €39,972 | ▲ 47.7% |
| Transfer to deferred taxes680 | €1.3m | - | - | - | - | - |
| Income taxes67/77 | €5 | -€5 | - | - | - | - |
| Profit (loss) for the period9904 | €3.9m | -€95,007 | -€4,346 | -€124,454 | -€172,065 | ▼ 38.3% |
| Transfer from tax-exempt reserves789 | €7,194 | €31,284 | €8,932 | €81,191 | €119,915 | ▲ 47.7% |
| Transfer to tax-exempt reserves689 | €3.9m | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€73,015 | -€63,724 | €4,586 | -€43,263 | -€52,150 | ▼ 20.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €6.0m | €5.9m | €5.9m | €5.9m | €6.6m | ▲ 12.0% |
| Fixed assets21/28 | €523,402 | €655,525 | €4.0m | €5.4m | €6.5m | ▲ 21.2% |
| Tangible fixed assets22/27 | €521,762 | €653,885 | €4.0m | €5.4m | €6.5m | ▲ 21.2% |
| Land and buildings22 | €520,760 | €648,548 | €4.0m | €5.3m | €6.4m | ▲ 21.8% |
| Plant, machinery and equipment23 | €1,001 | - | - | - | - | - |
| Furniture and vehicles24 | - | €5,337 | €4,102 | €100,729 | €89,494 | ▼ 11.2% |
| Financial fixed assets28 | €1,640 | €1,640 | €1,640 | €1,640 | €1,640 | = |
| Current assets29/58 | €5.5m | €5.3m | €1.9m | €481,341 | €48,653 | ▼ 89.9% |
| Amounts receivable within one year40/41 | €259,746 | €532,019 | €705,243 | €10,148 | €1,012 | ▼ 90.0% |
| Trade receivables40 | - | - | €4,329 | €70 | €0 | ▼ 100% |
| Other amounts receivable41 | €259,746 | €532,019 | €700,914 | €10,078 | €1,012 | ▼ 90.0% |
| Cash at bank and in hand54/58 | €5.1m | €4.5m | €925,085 | €228,979 | €39,191 | ▼ 82.9% |
| Deferred charges and accrued income490/1 | €175,949 | €204,484 | €240,347 | €242,214 | €8,450 | ▼ 96.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €6.0m | €5.9m | €5.9m | €5.9m | €6.6m | ▲ 12.0% |
| Equity10/15 | €4.7m | €4.6m | €4.6m | €4.5m | €4.3m | ▼ 3.8% |
| Contributions10/11 | €327,219 | €327,219 | €327,219 | €327,219 | €327,219 | = |
| Capital10 | €327,219 | €327,219 | €327,219 | €327,219 | €327,219 | = |
| Issued capital100 | €327,219 | €327,219 | €327,219 | €327,219 | €327,219 | = |
| Reserves13 | €4.5m | €4.4m | €4.4m | €4.3m | €4.2m | ▼ 2.8% |
| Non-distributable reserves130/1 | €32,722 | €32,722 | €32,722 | €32,722 | €32,722 | = |
| Legal reserve130 | €32,722 | €32,722 | €32,722 | €32,722 | €32,722 | = |
| Tax-exempt reserves132 | €3.9m | €3.9m | €3.9m | €3.8m | €3.7m | ▼ 3.1% |
| Distributable reserves133 | €483,855 | €483,855 | €483,855 | €483,022 | €483,022 | = |
| Profit (loss) carried forward14 | -€88,413 | -€152,137 | -€147,551 | -€190,813 | -€242,963 | ▼ 27.3% |
| Provisions and deferred taxes16 | €1.3m | €1.3m | €1.3m | €1.3m | €1.2m | ▼ 3.1% |
| Deferred taxes168 | €1.3m | €1.3m | €1.3m | €1.3m | €1.2m | ▼ 3.1% |
| Amounts payable17/49 | €168 | €150 | €5,322 | €103,975 | €1.0m | ▲ 882% |
| Amounts payable within one year42/48 | €168 | €150 | €5,322 | €103,744 | €1.0m | ▲ 884% |
| Trade debts44 | €168 | €150 | €5,322 | €39 | €3,811 | ▲ 9,607% |
| Suppliers440/4 | €168 | €150 | €5,322 | €39 | €3,811 | ▲ 9,607% |
| Taxes, remuneration and social security45 | - | - | - | €250 | €0 | ▼ 100% |
| Taxes450/3 | - | - | - | €250 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €103,455 | €1.0m | ▲ 883% |
| Accrued charges and deferred income492/3 | - | - | - | €231 | €30 | ▼ 86.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3.9m | -€95,007 | -€4,346 | -€124,454 | -€172,065 | ▼ 38.3% |
| + Depreciation and write-downs630 | €23,770 | €54,624 | €74,877 | €181,380 | €228,295 | ▲ 25.9% |
| Operating cash flow (approximation) | €3.9m | -€40,384 | €70,531 | €56,926 | €56,230 | ▼ 1.2% |
| Investment in fixed assets (approximation) | - | -€186,747 | -€3.5m | -€1.5m | -€1.4m | ▲ 9.9% |
| Change in cash | - | -€540,302 | -€3.6m | -€696,106 | -€189,788 | ▲ 72.7% |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 28 days late
2025
31-12
Financial
Weakest financial yearnet -€172,065
Net result drops to -€172,065, the lowest in the series.
11-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 11 days late
2024
14-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 75 days late
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
2022
12-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 12 days late
2021
31-12
Financial
Back to profitnet €3.9m
Net result €3.9m after one loss-making year.
31-12
Financial
Liquidity times 1791current ratio 32695.75
Current ratio from 18.26 to 32695.75; short-term debt falls from €26,044 to €168.
31-12
Financial
Equity above €2mEq €4.7m ▲463%
Equity rises from €835,406 to €4.7m.
09-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 40 days late
2020
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
17-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
25-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
10-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Affligem
Ground area
946 m²
Building footprint
192 m²
Volume, LiDAR
1,550 m³
Parcel 23030C0168/00R003, Flanders · tallest building 12.0 m, ±3 floors. Linked by address, not a title deed.
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23030C0168/00R003 | Flanders | 946 m² | 1 · 192 m² | 12.0 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.
Identification & contact
Identification
Legal formPublic limited company
Founded30-04-1987
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0431070374
Also
9925:BE0431070374
Registered
22-09-2025
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.