Public limited company · founded 2015 · 11 yrs activeKorte Keppestraat 23, 9320 Aalst, BelgiumKBO/BCE: BE 0627.761.927
Summary
NGG has a registered holding activity and consists mainly of financial fixed assets; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show negative equity (-€17.2m) and a net result of -€258,661. Equity is shrinking by ~50.3% per year across the filed fiscal years. Its solvency ranks better than 9% of 4613 sector peers (fiscal year 2025). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
How financially healthy the company is, how likely a bankruptcy is and how much credit is sensible. Start here to know whether you can do business safely.
Outside the general model
Checked score
A figure from 0 to 100 for financial health from the latest annual accounts: the higher, the healthier. Without a figure, the card says why. A low score is a reason to look closely at payment terms and security.
Holding: general score not applicable
The company has a registered holding activity and financial fixed assets account for more than half of its assets. The general operating-company model is unsuitable for this profile, so we show no financial axes either. Filed figures remain available.
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 39 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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. Usually files around 29 June (5 of the last 5 filed years within 30 days of that day).
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
History
History
The company's story in a few sentences, from the company register, the Belgian State Gazette and the filed annual accounts. Each number opens the document the sentence rests on.
NGG was incorporated on 31 March 2015 by Betco B.V., with a starting capital of EUR 62,000.12The registered office moved to Haaltert in 2015 and to Erembodegem in 2016.34In 2015 the capital was increased by EUR 17 million to EUR 17 million.3The board currently has 4 members; Cristian Mircea Radu has served longest, since 2021.5Total assets rose from EUR 122 million in 2018 to EUR 166 million in 2025 and headcount from 7.2 to 26.7 full-time equivalents.6
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, 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
Net result-€8.4mbelow the sector's middle half▼ 36.1%-€4.2mbelow the sector's middle half▲ 49.3%-€6.1mbelow the sector's middle half▼ 42.7%-€7.4mbelow the sector's middle half▼ 22.3%-€258,661below the sector's middle half▲ 96.5%
Equity€742,866within the sector's middle half▼ 91.9%-€3.5mbelow the sector's middle half-€9.6mbelow the sector's middle half▼ 173%-€17.0mbelow the sector's middle half▼ 77.5%-€17.2mbelow the sector's middle half▼ 1.5%
Total assets€125.7mabove the sector's middle half▲ 6.1%€119.5mabove the sector's middle half▼ 4.9%€144.7mabove the sector's middle half▲ 21.1%€136.3mabove the sector's middle half▼ 5.8%€165.7mabove the sector's middle half▲ 21.5%
Working capital-€29.8mbelow the sector's middle half-€33.6mbelow the sector's middle half▼ 13.0%-€60.4mbelow the sector's middle half▼ 79.6%-€116.6mbelow the sector's middle half▼ 93.0%-€116.4mbelow the sector's middle half▲ 0.2%
Solvency0.6%below the sector's middle half▼ 7.1pp-2.9%below the sector's middle half▼ 3.5pp-6.6%below the sector's middle half▼ 3.7pp-12.5%below the sector's middle half▼ 5.8pp-10.4%below the sector's middle half▲ 2.1pp
Current ratio0.48below the sector's middle half▼ 1.770.39below the sector's middle half▼ 0.090.43below the sector's middle half▲ 0.050.24below the sector's middle half▼ 0.190.36below the sector's middle half▲ 0.12
Return on assets (ROA)-6.7%below the sector's middle half▼ 1.5pp-3.6%below the sector's middle half▲ 3.1pp-4.2%below the sector's middle half▼ 0.6pp-5.4%below the sector's middle half▼ 1.2pp-0.2%within the sector's middle half▲ 5.3pp
Staff (FTE)20.9above the sector's middle half▲ 27.4%18.4above the sector's middle half▼ 12.0%23.5above the sector's middle half▲ 27.7%22.3above the sector's middle half▼ 5.1%26.7above the sector's middle half▲ 19.7%
abovewithinbelowthe middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €2.1m after a loss of €2.5m in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €165.7m
60.0%
40.0%
Fixed assets€99.3m ▼ 0.3%
Current assets€66.3m ▲ 80.9%
Key figures and ratios
2025 value · change against 2024
Debt ≤ 1 year
€182.7m▲
2024 · €153.3m
Income taxes
€6,606▲
2024 · €5,677
Staff costs
€2.3m▼
2024 · €6.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
Filed annual accountsAs filed with the NBB · 2025 against 2024 · 68 lines
Balance sheetCode20242025
Assets
Total assets20/58€136.3m€165.7m▲
Fixed assets21/28€99.6m€99.3m▼
Intangible fixed assets21€448,698€270,379▼
Tangible fixed assets22/27€709,144€720,028▲
Plant, machinery and equipment23€40,146€159,716▲
Furniture and vehicles24€236,763€138,553▼
Other tangible fixed assets26€432,236€421,760▼
Financial fixed assets28€98.5m€98.4m▼
Affiliated companies280/1€98.3m€98.2m▼
Participating interests280€98.3m€98.2m▼
Other financial fixed assets284/8€183,615€183,615=
Amounts receivable and cash guarantees285/8€183,615€183,615=
Current assets29/58€36.7m€66.3m▲
Amounts receivable after more than one year29-€25.1m
Other amounts receivable291-€25.1m
Amounts receivable within one year40/41€30.5m€36.7m▲
Trade receivables40€4.2m€2.5m▼
Other amounts receivable41€26.3m€34.2m▲
Cash at bank and in hand54/58€6.0m€4.4m▼
Deferred charges and accrued income490/1€109,019€130,637▲
Equity and liabilities
Total equity and liabilities10/49€136.3m€165.7m▲
Equity10/15-€17.0m-€17.2m▼
Contributions10/11€17.2m€17.2m=
Capital10€17.2m€17.2m=
Issued capital100€17.2m€17.2m=
Reserves13€21.9m€21.9m=
Non-distributable reserves130/1€21.9m€21.9m=
Other1319€21.9m€21.9m=
Profit (loss) carried forward14-€56.1m-€56.3m▼
Provisions and deferred taxes16-€160,600
Provisions for liabilities and charges160/5-€160,600
Other liabilities and charges164/5-€160,600
Amounts payable17/49€153.3m€182.7m▲
Amounts payable within one year42/48€153.3m€182.7m▲
Trade debts44€2.4m€1.0m▼
Suppliers440/4€2.4m€1.0m▼
Taxes, remuneration and social security45€4.4m€3.4m▼
Taxes450/3€737,419€522,832▼
Remuneration and social security454/9€3.6m€2.8m▼
Other amounts payable47/48€146.5m€178.4m▲
Income statementCode20242025
Operating income70/76A€14.0m€10.1m▼
Other operating income74€13.6m€8.8m▼
Non-recurring operating income76A€447,431€1.3m▲
Operating charges60/66A€16.5m€8.0m▼
Services and other goods61€3.3m€2.4m▼
Remuneration, social security and pensions62€6.1m€2.3m▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€564,194€436,925▼
Provisions for liabilities and charges: additions (uses and reversals)635/8-€160,600
Director appointment, Eamonn O'Loughlin (director)
Mandate compensation, Eamonn O'Loughlin
29-06
NBB filingAnnual accounts filed
fiscal year 2021 · full schema
2021
31-12
FinancialWeakest financial yearnet -€8.4m
Net result drops to -€8.4m, the lowest in the series; recovery starts the following year.
20-09
State Gazette actStatutes amendment
Capital4 facts ▸
General meeting, 02-09-2021
Statutes amendment
Statutes amendment
Capital, €17.223.851
17-09
State Gazette actResignation: Betco BV (director)
Appointment: Cristian Mircea Radu (director) · Director discharge · Mandate compensation9 facts ▸
General meeting, 02-09-2021
Director resignation, Betco BV (director)
Director discharge, Betco BV
Director discharge, Rated Hit BV
Director discharge, Odds & Overlay BV
Director appointment, Cristian Mircea Radu (director)
Director appointment, Cristian Mircea Radu (class A director)
Mandate compensation, Cristian Mircea Radu
Power of attorney, CMS Belgium
26-08
State Gazette actResignations: EY Bedrijfsrevisoren BV (statutory auditor) and Tim De Borie (director)
Appointments: Rated Hit BV (director) and KPMG Bedrijfsrevisoren BV/SRL (statutory auditor) · Permanent representatives: Tim De Borie, Filip De Bock and Steven Veyt · Approval17 facts ▸
General meeting, 03-06-2021
Approval, 03-06-2021
Director resignation, EY Bedrijfsrevisoren BV (statutory auditor)
Director discharge, Betco B.V. (director)
Director discharge, Tim De Borie (director)
Director discharge, Tom De Clercq (director)
Director discharge, Odds & Overlay BV (director)
Director discharge, EY Bedrijfsrevisoren BV (statutory auditor)
Director resignation, Tim De Borie (director)
Director appointment, Rated Hit BV (director)
Permanent representative, Tim De Borie
Director appointment, Rated Hit BV (ceo online)
+5 further facts in this act
17-06
NBB filingAnnual accounts filed
fiscal year 2020 · full schema
02-04
State Gazette actResignation: Tim De Borle (director)
Appointment: Rated Hit BV (director) · Director discharge · Power of attorney5 facts ▸
Board meeting, 16-12-2020
Director resignation, Tim De Borle (director)
Director discharge, Tim De Borle
Director appointment, Rated Hit BV (director)
Power of attorney, Rated Hit BV
2020
14-05
State Gazette actResignations & appointments
Power of attorney2 facts ▸
Board meeting, 29-01-2020
Power of attorney, Francesco Postiglione
16-04
State Gazette actResignation: Tom De Clercq (director)
Permanent representative: Cédric van Cauwenberghe3 facts ▸
Board meeting, 19-12-2019
Director resignation, Tom De Clercq (director)
Permanent representative, Cédric van Cauwenberghe
2018
12-11
State Gazette actPermanent representatives: Cédric Van Cauwenberghe, WPEF V Holding Cooperatief W.A. and Waterland Private Equity Investments B.V.
4 facts ▸
Board meeting
Permanent representative, Cédric Van Cauwenberghe
Permanent representative, WPEF V Holding Cooperatief W.A.
State Gazette actAppointment: Odds & Overlay BVBA (gedelegeerde tot het dagelijks bestuur)
Permanent representative: Tom De Clercq · Power of attorney5 facts ▸
General meeting, 28-07-2015
Director appointment, Odds & Overlay BVBA (gedelegeerde tot het dagelijks bestuur)
Permanent representative, Tom De Clercq
Power of attorney, Allen & Overy LLP
Power of attorney, elke bestuurder van de Vennootschap
21-08
State Gazette actResignations: Betco B.V. (director) and MarGates BVBA (director)
Appointments: Mieke Michiels, Tom De Ciercq and Napoleon Games NV · Permanent representatives: Tom De Clercq and WPEF V Holding! Coöperatief W.A. · Director discharge10 facts ▸
General meeting, 30-06-2015
Director resignation, Betco B.V. (director)
Director resignation, MarGates BVBA (director)
Director discharge, Betco B.V.
Director discharge, MarGates BVBA
Director appointment, Mieke Michiels (director)
Director appointment, Tom De Ciercq (director)
Director appointment, Napoleon Games NV (director)
Permanent representative, Tom De Clercq
Permanent representative, WPEF V Holding! Coöperatief W.A.
29-07
State Gazette actRegistered office · Capital & shares · Statutes amendment
Approval · Capital increase · Share issue12 facts ▸
General meeting, 01-07-2015
Approval, 01-07-2015
Capital increase, €17.161.851
Share issue, aandelen zonder vermelding van nominale waarde, 17161851
Representation, in rechte en ten aanzien van derden, één Bestuurder en één vertegenwoordiger van Betco B.V., samen handelend
Profit certificate rights, voorrang op elke dividendbetaling aan een Aandeelhouder, niet overdraagbaar, uitgezonderd (i) gelijktijdige overdracht van de relevante Klasse van Aandelen of (…
17-07
State Gazette actMiscellaneous
General meeting1 fact ▸
General meeting, 30-06-2015
02-04
State Gazette actIncorporation
Appointments: Betco B.V. (director) and MARGATES (director) · Permanent representatives: WPEF V HOLDING COÖPERATIEF W.A., Waterland Private Equity Investments B.V. and 2 others · Founder15 facts ▸
Incorporation, 30-03-2015
Founder, Betco B.V.
Founding capital, €62.000
Bank account, Belfius bank
Director appointment, Betco B.V. (director)
Director appointment, MARGATES (director)
Mandate compensation, Betco B.V.
Mandate compensation, MARGATES
Permanent representative, WPEF V HOLDING COÖPERATIEF W.A.
Permanent representative, VAN CAUWENBERGHE Cédric Guillaume Prosper Martin
+3 further facts in this act
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
23 of 23 acts read
Directors · office · real estate
Directors and office
Who runs the company and where it is based. It tells you who you are talking to and whether the address checks out.
Directors
Directors
Who runs the company today and since when, grouped the way the CBE groups its function holders. Many recent board changes are a reason to keep a close eye.
3 directors, 1 in day-to-day management, no change since 2025
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Location & real-estate footprint
Location & real estate
Where the company is based and which parcels are linked to its addresses. An address shared by many companies is often a registered-office service.
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
Mandate history
Who held which function and when, per person: one bar per period, from appointment to resignation or to today. An open left edge means the mandate began before the oldest act we hold.
1. het oprichten van, het deelnemen in publieke of private inrichtingen, vennootschappen of ondernemingen... 2. het voeren van beheer over... 3. het aankopen, het verkopen... 4.…
Full purpose
1. het oprichten van, het deelnemen in publieke of private inrichtingen, vennootschappen of ondernemingen... 2. het voeren van beheer over... 3. het aankopen, het verkopen... 4. het uitvoeren van alle financiële verrichtingen...
Who owns the company and which companies it holds shares in, as the companies file it in their annual accounts. It shows which group it belongs to and who ultimately stands behind it.
1 owner · 6 holdings · 30 subsidiaries in the tree
According to the 2025 annual accounts of NGG and those of the other companies, the acts in the Belgian Gazette and the LEI register.
The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
Connections & network
Which other companies are linked to this one through directors or shares. Look especially for linked companies in trouble.
25 connected companies
Depth
Shared directorsBundled connections
This companyCompanyDirectorShareholding+N: links not shown yetClick a node to look further, drag to arrange, scroll to zoom.
Of 7,326 companies in sector 68110 we hold annual accounts for 5,390. 3,452 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Company details
The company's official details: legal form, status, activities and founding date. Useful to draw up an invoice or contract correctly.
Identification
Legal formPublic limited company
Founded31-03-2015
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID0208:0627761927
Registered01-08-2021
If you follow this company, Checked tells you the day it leaves the Peppol register.