NG²
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 20-07-2026 at the NBB all 16 filings
Turnover
≈ €130,000
Estimated: probably between €96,000 and €180,000
Total assets
€109,749▲ 24.6%
2024 · €88,104
Net result
€25,265▼ 14.7%
2024 · €29,611
Working capital
€95,926▲ 38.6%
2024 · €69,211
In the rankings
#9 oldest company in Wervik, Health and social work sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€38,943
▼ 10.9%
2025
20182025
Net result
€25,265
▼ 14.7%
2025
middle half of the sector
20182025
Equity
€93,319
▲ 37.1%
2025
middle half of the sector
20182025
Total assets
€109,749
▲ 24.6%
2025
lowest quarter of the sector
20182025
Debt
€16,430
▼ 18.1%
2025
20182025
Working capital
€95,926
▲ 38.6%
2025
middle half of the sector
20182025
Solvency
85.0%
▲ 7.8pp
2025
highest quarter of the sector
20182025
Current ratio
8.14
▲ 3.08
2025
highest quarter of the sector
20182025
Return on assets (ROA)
23.0%
▼ 10.6pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€13,132-€2,736▼ 79.2%€10,675▲ 290%€13,126▲ 23.0%€7,864▼ 40.1%€16,541▲ 110%€43,689▲ 164%€38,943▼ 10.9%
Net result€12,750-€1,345▼ 89.4%€7,211below the sector's middle half▲ 436%€10,643below the sector's middle half▲ 47.6%€4,915below the sector's middle half▼ 53.8%€9,551below the sector's middle half▲ 94.3%€29,611within the sector's middle half▲ 210%€25,265within the sector's middle half▼ 14.7%
Equity€3,477-€6,122▲ 76.1%€13,334below the sector's middle half▲ 118%€23,977below the sector's middle half▲ 79.8%€28,891below the sector's middle half▲ 20.5%€38,443below the sector's middle half▲ 33.1%€68,053within the sector's middle half▲ 77.0%€93,319within the sector's middle half▲ 37.1%
Total assets€38,231-€34,294▼ 10.3%€42,041below the sector's middle half▲ 22.6%€54,982below the sector's middle half▲ 30.8%€63,809below the sector's middle half▲ 16.1%€51,263below the sector's middle half▼ 19.7%€88,104below the sector's middle half▲ 71.9%€109,749below the sector's middle half▲ 24.6%
Debt€34,754-€28,172▼ 18.9%€28,707▲ 1.9%€31,006▲ 8.0%€34,917▲ 12.6%€12,821▼ 63.3%€20,051▲ 56.4%€16,430▼ 18.1%
Working capital€2,349-€5,233▲ 123%€12,945below the sector's middle half▲ 147%€20,203below the sector's middle half▲ 56.1%€26,675within the sector's middle half▲ 32.0%€37,048within the sector's middle half▲ 38.9%€69,211within the sector's middle half▲ 86.8%€95,926within the sector's middle half▲ 38.6%
Solvency9.1%-17.9%▲ 8.8pp31.7%below the sector's middle half▲ 13.9pp43.6%within the sector's middle half▲ 11.9pp45.3%within the sector's middle half▲ 1.7pp75.0%within the sector's middle half▲ 29.7pp77.2%within the sector's middle half▲ 2.3pp85.0%above the sector's middle half▲ 7.8pp
Current ratio1.07-1.19▲ 0.121.45within the sector's middle half▲ 0.271.65within the sector's middle half▲ 0.201.80within the sector's middle half▲ 0.154.50within the sector's middle half▲ 2.695.06within the sector's middle half▲ 0.568.14above the sector's middle half▲ 3.08
Return on assets (ROA)33.3%-3.9%▼ 29.4pp17.2%within the sector's middle half▲ 13.2pp19.4%within the sector's middle half▲ 2.2pp7.7%below the sector's middle half▼ 11.7pp18.6%within the sector's middle half▲ 10.9pp33.6%within the sector's middle half▲ 15.0pp23.0%within the sector's middle half▼ 10.6pp
above
within
below
The sector band is the middle half of the companies in Human health activities (NACE 86). 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 11% 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 €109,749
Fixed assets
€393 ▼ 78.7%
Current assets
€109,356 ▲ 26.8%
Equity and liabilities €109,749
Equity
€93,319 ▲ 37.1%
Debt
€16,430 ▼ 18.1%
Debt's share of the balance-sheet total falls from 22.8% to 15.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€40,392▼
2024 · €45,466
Cash flow
€26,715▼
2024 · €31,387
Debt to equity
0.18▼
2024 · 0.29
ROE
27.1%▼
2024 · 43.5%
Interest coverage
17.50▼
2024 · 34.48
Debt ≤ 1 year
€13,430▼
2024 · €17,051
Income taxes
€11,473▼
2024 · €12,807
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €10,678 | €1,441 | €1,338 | - | €10,403 |
| Depreciation and write-downs of the year | €864 | €1,249 | €1,686 | €1,776 | €1,449 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €1,335 awarded · €1,335 paidAnnual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €7,571 | - | - | - | €4,597 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €833 | €739 | €500 | €864 | €1,249 | €1,686 | €1,776 | €1,449 | ▼ 18.4% |
| Other operating charges640/8 | - | - | - | €1,168 | €875 | €1,024 | €1,474 | €1,169 | ▼ 20.7% |
| Gross operating margin9900 | €14,421 | €4,250 | €11,795 | €15,158 | €9,988 | €19,251 | €46,940 | €41,562 | ▼ 11.5% |
| Operating profit (loss)9901 | €13,132 | €2,736 | €10,675 | €13,126 | €7,864 | €16,541 | €43,689 | €38,943 | ▼ 10.9% |
| Financial income75/76B | - | - | - | - | - | €3 | €47 | €104 | ▲ 120% |
| Recurring financial income75 | - | - | - | - | - | €3 | €47 | €104 | ▲ 120% |
| Financial charges65/66B | - | - | - | €119 | €329 | €1,715 | €1,319 | €2,308 | ▲ 75.0% |
| Recurring financial charges65 | €61 | €155 | €89 | €119 | €329 | €1,715 | €1,319 | €2,308 | ▲ 75.0% |
| Profit (loss) for the period before taxes9903 | €13,071 | €2,581 | €10,586 | €13,006 | €7,535 | €14,830 | €42,418 | €36,739 | ▼ 13.4% |
| Income taxes67/77 | €321 | €1,236 | €3,374 | €2,364 | €2,620 | €5,278 | €12,807 | €11,473 | ▼ 10.4% |
| Profit (loss) for the period9904 | €12,750 | €1,345 | €7,211 | €10,643 | €4,915 | €9,551 | €29,611 | €25,265 | ▼ 14.7% |
| Profit (loss) for the period to be appropriated9905 | €12,750 | €1,345 | €7,211 | €10,643 | €4,915 | €9,551 | €29,611 | €25,265 | ▼ 14.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €38,231 | €34,294 | €42,041 | €54,982 | €63,809 | €51,263 | €88,104 | €109,749 | ▲ 24.6% |
| Fixed assets21/28 | €1,177 | €889 | €389 | €3,774 | €3,966 | €3,618 | €1,842 | €393 | ▼ 78.7% |
| Tangible fixed assets22/27 | €1,177 | €889 | €389 | €3,774 | €3,966 | €3,618 | €1,842 | €393 | ▼ 78.7% |
| Plant, machinery and equipment23 | - | - | - | €3,701 | €2,852 | €2,002 | €1,152 | €302 | ▼ 73.8% |
| Furniture and vehicles24 | - | - | - | €72 | €1,114 | €1,616 | €690 | €90 | ▼ 86.9% |
| Current assets29/58 | €37,054 | €33,405 | €41,652 | €51,209 | €59,843 | €47,645 | €86,262 | €109,356 | ▲ 26.8% |
| Amounts receivable within one year40/41 | €33,482 | €28,744 | €28,554 | €27,158 | €30,476 | €12,601 | €13,222 | €41,949 | ▲ 217% |
| Trade receivables40 | - | - | - | €27,022 | €30,096 | €11,035 | €12,026 | €39,437 | ▲ 228% |
| Other amounts receivable41 | - | - | - | €136 | €380 | €1,566 | €1,196 | €2,512 | ▲ 110% |
| Cash at bank and in hand54/58 | €3,571 | €4,486 | €12,922 | €23,019 | €26,140 | €33,722 | €69,932 | €65,132 | ▼ 6.9% |
| Deferred charges and accrued income490/1 | - | - | - | €1,032 | €3,227 | €1,322 | €3,108 | €2,275 | ▼ 26.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €38,231 | €34,294 | €42,041 | €54,982 | €63,809 | €51,263 | €88,104 | €109,749 | ▲ 24.6% |
| Equity10/15 | €3,477 | €6,122 | €13,334 | €23,977 | €28,891 | €38,443 | €68,053 | €93,319 | ▲ 37.1% |
| Contributions10/11 | €15,000 | €16,300 | - | €16,300 | €16,300 | €16,300 | €16,300 | €16,300 | = |
| Reserves13 | €16,000 | €1,500 | €1,500 | €7,677 | €12,591 | €22,143 | €51,753 | €77,019 | ▲ 48.8% |
| Non-distributable reserves130/1 | - | - | - | €1,500 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,500 | - | - | - | - | - |
| Distributable reserves133 | - | - | - | €6,177 | €12,591 | €22,143 | €51,753 | €77,019 | ▲ 48.8% |
| Profit (loss) carried forward14 | -€27,523 | -€11,678 | -€4,466 | - | - | - | - | - | - |
| Amounts payable17/49 | €34,754 | €28,172 | €28,707 | €31,006 | €34,917 | €12,821 | €20,051 | €16,430 | ▼ 18.1% |
| Amounts payable within one year42/48 | €34,705 | €28,172 | €28,707 | €31,006 | €33,167 | €10,596 | €17,051 | €13,430 | ▼ 21.2% |
| Trade debts44 | €2,618 | €5,521 | €4,591 | €3,285 | €5,047 | €7,025 | €5,334 | €2,075 | ▼ 61.1% |
| Suppliers440/4 | - | - | - | €3,285 | €5,047 | €7,025 | €5,334 | €2,075 | ▼ 61.1% |
| Taxes, remuneration and social security45 | - | - | - | €5,443 | €3,690 | €3,572 | €11,717 | €11,355 | ▼ 3.1% |
| Taxes450/3 | - | - | - | €5,443 | €3,690 | €3,572 | €5,087 | €11,355 | ▲ 123% |
| Remuneration and social security454/9 | - | - | - | - | - | - | €6,630 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €22,278 | €24,431 | €0 | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €1,750 | €2,224 | €3,000 | €3,000 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12,750 | €1,345 | €7,211 | €10,643 | €4,915 | €9,551 | €29,611 | €25,265 | ▼ 14.7% |
| + Depreciation and write-downs630 | €833 | €739 | €500 | €864 | €1,249 | €1,686 | €1,776 | €1,449 | ▼ 18.4% |
| Operating cash flow (approximation) | €13,583 | €2,084 | €7,711 | €11,507 | €6,164 | €11,237 | €31,387 | €26,715 | ▼ 14.9% |
| Investment in fixed assets (approximation) | - | -€451 | €0 | -€4,249 | -€1,441 | -€1,338 | €0 | €0 | - |
| Change in cash | - | €915 | €8,436 | €10,096 | €3,121 | €7,583 | €36,210 | -€4,800 | - |
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, 34,693 companies had the same profile as NG² has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of NG² 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 34,693 companies, not a prediction for NG². 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 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 20-07-2026 | 2026-00310232 | |
| 31-12-2024 | micro format | 10-07-2025 | 2025-00252384 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00410141 | |
| 31-12-2022 | micro format | 17-07-2023 | 2023-00239629 | |
| 31-12-2021 | micro format | 28-06-2022 | 2022-20098369 | |
| 31-12-2020 | micro format | 28-06-2021 | 2021-24900250 | |
| 31-12-2019 | micro format | 03-07-2020 | 2020-25200165 | |
| 31-12-2018 | micro format | 24-06-2019 | 2019-20500173 | |
| 31-12-2017 | micro format | 11-07-2018 | 2018-31900107 | |
| 31-12-2016 | micro format | 29-06-2017 | 2017-22700224 |