NG Development
ActiveSummary
NG Development has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3,000 and a net result of -€11,627. Equity has been shrinking by about 17% per year since 2022. Its solvency ranks better than 23% of 17,145 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 22-04-2022 Normal situation
- Activity
- Real estate agency activities NACE 68310and 1 other
- Establishment unit
- 2.330.724.116 1390 Grez-Doiceau, since 22-04-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 24-11-2025
Board and ownership
- GODTS Nicolas Anthony ChristopheDirector · since 22-04-2022
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.6%
- Gross margin
- €20,777
- ▼ 57.1%
- Turnover
- ≈ €89,000
- estimated
- Loss
- €11,627
- Equity
- €3,000
- ▼ 97.6%
- Total assets
- €157,731
- ▼ 12.5%
Score breakdownraises riskFounded in 2022Equity €3,000 (1.9% of total assets)lowers riskSector: Real estate activities (NACE 68)Size: total assets €157,731Show the evidence
Checked score
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 22% of them on solvency, 13% on liquidity, 18% on profitability and 6% on growth.
The bankruptcy probability was computed on 01-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 4 accounts on average 18 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 29-06-2026 at the NBB all 4 filings
2022 to 2025, 4 financial years
The operating result for 2025 is 44% lower than in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €5,785 | €40,331 | €6,948 | €15,932 |
| Depreciation and write-downs of the year | €206 | €2,218 | €5,827 | €7,841 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €206 | €2,218 | €5,827 | €7,841 | ▲ 34.6% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | €23,800 | €2,200 | ▼ 90.8% |
| Other operating charges640/8 | €348 | €384 | €387 | €400 | ▲ 3.2% |
| Gross operating margin9900 | €148,362 | €1,182 | €48,470 | €20,777 | ▼ 57.1% |
| Operating profit (loss)9901 | €147,809 | -€1,420 | €18,456 | €10,336 | ▼ 44.0% |
| Financial income75/76B | - | €0 | €943 | €1,665 | ▲ 76.6% |
| Recurring financial income75 | - | €0 | €943 | €1,665 | ▲ 76.6% |
| Financial charges65/66B | €143 | €167 | €49 | €23,424 | ▲ 479× |
| Recurring financial charges65 | €143 | €167 | €49 | €23,424 | ▲ 479× |
| Profit (loss) for the period before taxes9903 | €147,666 | -€1,586 | €19,350 | -€11,423 | - |
| Income taxes67/77 | €31,916 | €197 | €10,390 | €204 | ▼ 98.0% |
| Profit (loss) for the period9904 | €115,749 | -€1,783 | €8,960 | -€11,627 | - |
| Profit (loss) for the period to be appropriated9905 | €115,749 | -€1,783 | €8,960 | -€11,627 | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €159,630 | €128,745 | €180,325 | €157,731 | ▼ 12.5% |
| Fixed assets21/28 | €5,579 | €43,693 | €44,814 | €52,906 | ▲ 18.1% |
| Tangible fixed assets22/27 | €5,579 | €43,693 | €44,814 | €52,906 | ▲ 18.1% |
| Furniture and vehicles24 | €5,579 | €4,422 | €6,189 | €3,862 | ▼ 37.6% |
| Other tangible fixed assets26 | - | €39,271 | €38,625 | €49,044 | ▲ 27.0% |
| Current assets29/58 | €154,051 | €85,052 | €135,510 | €104,825 | ▼ 22.6% |
| Amounts receivable within one year40/41 | €12,224 | €34,228 | €119,013 | €94,227 | ▼ 20.8% |
| Trade receivables40 | €12,224 | €34,228 | €30,083 | €12,965 | ▼ 56.9% |
| Other amounts receivable41 | - | - | €88,930 | €81,262 | ▼ 8.6% |
| Cash at bank and in hand54/58 | €141,827 | €50,646 | €16,252 | €10,415 | ▼ 35.9% |
| Deferred charges and accrued income490/1 | - | €178 | €245 | €183 | ▼ 25.4% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €159,630 | €128,745 | €180,325 | €157,731 | ▼ 12.5% |
| Equity10/15 | €118,749 | €116,966 | €125,926 | €3,000 | ▼ 97.6% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Profit (loss) carried forward14 | €115,749 | €113,966 | €122,926 | - | - |
| Provisions and deferred taxes16 | - | - | €23,800 | €26,000 | ▲ 9.2% |
| Provisions for liabilities and charges160/5 | - | - | €23,800 | €26,000 | ▲ 9.2% |
| Other liabilities and charges164/5 | - | - | €23,800 | €26,000 | ▲ 9.2% |
| Amounts payable17/49 | €40,881 | €11,779 | €30,598 | €128,731 | ▲ 321% |
| Amounts payable within one year42/48 | €40,881 | €11,779 | €30,598 | €128,731 | ▲ 321% |
| Trade debts44 | - | - | €3,268 | €948 | ▼ 71.0% |
| Suppliers440/4 | - | - | €3,268 | €948 | ▼ 71.0% |
| Taxes, remuneration and social security45 | €40,722 | €8,937 | €18,597 | €24,757 | ▲ 33.1% |
| Taxes450/3 | €40,722 | €8,937 | €18,597 | €24,757 | ▲ 33.1% |
| Other amounts payable47/48 | €159 | €2,841 | €8,733 | €103,026 | ▲ 12× |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €115,749 | -€1,783 | €8,960 | -€11,627 | - |
| + Depreciation and write-downs630 | €206 | €2,218 | €5,827 | €7,841 | ▲ 34.6% |
| Operating cash flow (approximation) | €115,955 | €434 | €14,787 | -€3,787 | - |
| Investment in fixed assets (approximation) | - | -€40,331 | -€6,948 | -€15,932 | ▼ 129% |
| Change in cash | - | -€91,181 | -€34,394 | -€5,837 | ▲ 83.0% |
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, 1,301 companies had the same profile as NG Development has now. Two years later, 5.5% had gone bankrupt and 92.6% were still going.
- Micro
- 2 to 5 years old
- solvency under 10%
- a small loss
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of NG Development itself is lower: 0.6% within 12 months. It rests on far more data about NG Development than the profile alone.
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 1,301 companies, not a prediction for NG Development. 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.
Board & ownership
Directors
Owners and capital
Shareholders
- GODTS Nicolas Anthony Christophe 30,000 shares (100%) · €3,000 in cash
Capital transactions
- 26-04-2022 Converted to unavailable equity · €1,000
- 26-04-2022 Incorporation · €3,000 · 30,000 shares
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Fixe ou proportionnelle, assemblée générale majorité absolue voix ou actionnaire unique”
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one.
- No statutory auditor
Articles of association, deed of 26-04-2022 (in French)
Network & group
NG Development shares no director with another company.
Companies at the same address
2 other companiesConnections & network
1 current directorThe network starts from the directors of NG Development. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
26-04
Gazette deed
IncorporationStarting capital €3,000 · Appointment: GODTS Nicolas Anthony Christophe (statutory director) · Founder · Power of attorney12 points ▸
- Incorporation, “NG Development” (deed in French)
- Founder, GODTS Nicolas Anthony Christophe
- Power of attorney, Catherine Vandamme (collaboratrice du notaire soussigné)
- Other provision, 20-04-2022
- Other provision, “avertissement sur responsabilité des fondateurs, faillite dans les trois ans de la constitution” (deed in French)
- Bank account, “BNP Paribas Fortis”, 3000 (deed in French)
- Other provision, “attestation de dépôt et disponibilité”, 3000 (deed in French)
- Capital conversion, “compte de capitaux propres indisponible” (deed in French)
- Director appointment, GODTS Nicolas Anthony Christophe (statutory director)
- Founding capital, €3,000
- Pre-incorporation commitments, “takeover, engagements obligations activités au nom et pour compte société en formation” (deed in French)
- Other provision, “autorisations préalables accès profession, obtenir autorisations licences ou remplir conditions selon règlements” (deed in French)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
12 activities
- Conseils et prestations pour compte de tiers en matière immobilière et de développement immobilier
- Gestion pour compte propre et de tiers de biens immeubles
- Développement de projets immobiliers résidentiels,de projets de construction et de rénovation de maisons individuelles,d’immeubles d’appartements et de bureaux,de surfaces commerciales,de tous projets immobiliers ou assimilés sans rapport avec l’immobilier résidentiel
- Construction générale d’immeubles résidentiels,de bureau,commerciaux,et en général non-résidentiels
- Mise en vente et en location d’immeubles lui appartenant en propre,meublés ou non
- Mise en location d’immeubles résidentiels,sociaux ou non,d’immeubles de bureaux,de surfaces commerciales ou non,etc
- Intermédiation dans la vente,la location,la mise à disposition de tous biens immeubles de quelque nature que ce soit
- Gestion d’immeubles pour compte des propriétaires de tous services liés aux immeubles
- Conseils et prestations en matière d’assistance commerciale et administrative et de Management
- L'achat,la vente de toutes valeurs mobilières et plus principalement d'actions,obligations ou titres généralement quelconques,côtés ou non en bourse,et la prise de participation financière dans des sociétés de droit belge ou étrangère
- L'achat,la vente,l'échange,la construction,la reconstruction,la démolition,la transformation,l'exploitation,la location et la gérance de tous immeubles bâtis,meublés ou non
- L'achat,la vente,l'échange,la mise en valeur,le lotissement,l'exploitation,la location et l'affermage de tous immeubles non bâtis
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 25037A0072/04F000 | Wallonia | 1,215 m² | 1 · 106 m² | - |