Niagara
ActiveSummary
Niagara has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-20k) and a net result of €-2k. Equity is shrinking by ~7.6% per year across the filed fiscal years. Its solvency ranks better than 5% of 394 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability7▼-17
Solvency0=
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.45 against 0.53 in 2024; short-term debt: 223.2% and cash: 17.3% of total assets), and equity is negative.
Credit check for your own amount and term
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-123.2%
Return on assets
-12.3%
Age of the figures
12 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-20k
neutral · Filed after the deadline
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 27-05-2026, 27 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
27 d late
2024
16 d late
2023
29 d late
2022
30 d late
2021
4 d early
2020
31 d late
2019
on the day
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-20k▼ 11.0%
2024 · €-18k
2018: €-11khighest in 8 years
2019: €-12k▼ -7.1% vs 2018
2020: €-13k▼ -7.9% vs 2019
2021: €-14k▼ -11.8% vs 2020
2022: €-15k▼ -6.2% vs 2021
2023: €-16k▼ -7.6% vs 2022
2024: €-18k▼ -6.6% vs 2023
2025: €-20k▼ -11.0% vs 2024lowest in 8 years
2018 → 2025
Total assets
€16k▼ 20.3%
2024 · €20k
2018: €18k
2019: €18k▼ -2.8% vs 2018
2020: €16k▼ -7.6% vs 2019
2021: €18k▲ +10.0% vs 2020
2022: €17k▼ -2.7% vs 2021
2023: €15k▼ -12.1% vs 2022lowest in 8 years
2024: €20k▲ +29.4% vs 2023highest in 8 years
2025: €16k▼ -20.3% vs 2024
2018 → 2025
Net result
€-2k▼ 79.3%
2024 · €-1k
2018: €-1k
2019: €-794▲ +32.8% vs 2018highest in 8 years
2020: €-947▼ -19.2% vs 2019
2021: €-2k▼ -61.5% vs 2020
2022: €-897▲ +41.3% vs 2021
2023: €-1k▼ -30.0% vs 2022
2024: €-1k▲ +7.2% vs 2023
2025: €-2k▼ -79.3% vs 2024lowest in 8 years
2018 → 2025
Working capital
€-20k▼ 11.0%
2024 · €-18k
2018: €-11khighest in 8 years
2019: €-12k▼ -7.1% vs 2018
2020: €-13k▼ -7.9% vs 2019
2021: €-14k▼ -11.8% vs 2020
2022: €-15k▼ -2.9% vs 2021
2023: €-16k▼ -11.1% vs 2022
2024: €-18k▼ -6.6% vs 2023
2025: €-20k▼ -11.0% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-14k-€-15k▼ 6.2%€-16k▼ 7.6%€-18k▼ 6.6%€-20k▼ 11.0%
2021: €-14khighest in 5 years
2022: €-15k▼ -6.2% vs 2021
2023: €-16k▼ -7.6% vs 2022
2024: €-18k▼ -6.6% vs 2023
2025: €-20k▼ -11.0% vs 2024lowest in 5 years
Operating result€-1k-€-852▲ 42.5%€-1k▼ 32.3%€-1k▲ 7.4%€-2k▼ 81.8%
2021: €-1k
2022: €-852▲ +42.5% vs 2021highest in 5 years
2023: €-1k▼ -32.3% vs 2022
2024: €-1k▲ +7.4% vs 2023
2025: €-2k▼ -81.8% vs 2024lowest in 5 years
Net result€-2k-€-897▲ 41.3%€-1k▼ 30.0%€-1k▲ 7.2%€-2k▼ 79.3%
2021: €-2k
2022: €-897▲ +41.3% vs 2021highest in 5 years
2023: €-1k▼ -30.0% vs 2022
2024: €-1k▲ +7.2% vs 2023
2025: €-2k▼ -79.3% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €2k in 2025 against €1k in 2024; the loss grows and 2025 has the lowest result in the available series.
Key figures and ratios
Solvency
-123.2%▼
2024 · -88.5%
Current ratio
0.45▼
2024 · 0.53
Quick ratio
0.09▼
2024 · 0.20
Debt to equity
-1.81▲
2024 · -2.13
ROA
-12.3%▼
2024 · -5.4%
Debt
€35k▼
2024 · €37k
Debt ≤ 1 year
€35k▼
2024 · €37k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 32 lines
Balance sheet
Code20242025
Assets
Total assets20/58€20k€16k▼
Current assets29/58€20k€16k▼
Stocks and contracts in progress3€13k€13k=
Stocks30/36€13k€13k=
Amounts receivable within one year40/41€3k€561▼
Trade receivables40€2k-
Other amounts receivable41€546€561▲
Cash at bank and in hand54/58€4k€3k▼
Equity and liabilities
Total equity and liabilities10/49€20k€16k▼
Equity10/15€-18k€-20k▼
Contributions10/11€744k€744k=
Capital10€744k€744k=
Issued capital100€744k€744k=
Reserves13€34k€34k=
Non-distributable reserves130/1€34k€34k=
Legal reserve130€34k€34k=
Profit (loss) carried forward14€-795k€-797k▼
Amounts payable17/49€37k€35k▼
Amounts payable within one year42/48€37k€35k▼
Trade debts44€15k€15k▲
Suppliers440/4€15k€15k▲
Other amounts payable47/48€23k€21k▼
Income statement
Code20242025
Other operating charges640/8€384€387▲
Gross operating margin9900€-659€-2k▼
Operating profit (loss)9901€-1k€-2k▼
Financial charges65/66B€40€45▲
Recurring financial charges65€40€45▲
Profit (loss) for the period before taxes9903€-1k€-2k▼
Profit (loss) for the period9904€-1k€-2k▼
Profit (loss) for the period to be appropriated9905€-1k€-2k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-795k€-797k▼
Profit (loss) brought forward from the previous period14P€-794k€-795k▼
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €17 | - | €358 | €384 | €387 | ▲ 0.8% |
| Gross operating margin9900 | €-1k | €-852 | €-768 | €-659 | €-2k | ▼ 129% |
| Operating profit (loss)9901 | €-1k | €-852 | €-1k | €-1k | €-2k | ▼ 81.8% |
| Financial charges65/66B | €47 | €45 | €39 | €40 | €45 | ▲ 13.7% |
| Recurring financial charges65 | €47 | €45 | €39 | €40 | €45 | ▲ 13.7% |
| Profit (loss) for the period before taxes9903 | €-2k | €-897 | €-1k | €-1k | €-2k | ▼ 79.3% |
| Profit (loss) for the period9904 | €-2k | €-897 | €-1k | €-1k | €-2k | ▼ 79.3% |
| Profit (loss) for the period to be appropriated9905 | €-2k | €-897 | €-1k | €-1k | €-2k | ▼ 79.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €18k | €17k | €15k | €20k | €16k | ▼ 20.3% |
| Current assets29/58 | €18k | €17k | €15k | €20k | €16k | ▼ 20.3% |
| Stocks and contracts in progress3 | €13k | €13k | €13k | €13k | €13k | = |
| Stocks30/36 | €13k | €13k | €13k | €13k | €13k | = |
| Amounts receivable within one year40/41 | €3k | €3k | €3k | €3k | €561 | ▼ 80.3% |
| Trade receivables40 | €2k | €2k | €2k | €2k | - | - |
| Other amounts receivable41 | €352 | €352 | €487 | €546 | €561 | ▲ 2.7% |
| Cash at bank and in hand54/58 | €2k | €2k | €154 | €4k | €3k | ▼ 38.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €18k | €17k | €15k | €20k | €16k | ▼ 20.3% |
| Equity10/15 | €-14k | €-15k | €-16k | €-18k | €-20k | ▼ 11.0% |
| Contributions10/11 | €744k | €744k | €744k | €744k | €744k | = |
| Capital10 | €744k | €744k | €744k | €744k | €744k | = |
| Issued capital100 | €744k | €744k | €744k | €744k | €744k | = |
| Reserves13 | €34k | €34k | €34k | €34k | €34k | = |
| Non-distributable reserves130/1 | €34k | €34k | €34k | €34k | €34k | = |
| Legal reserve130 | €34k | €34k | €34k | €34k | €34k | = |
| Profit (loss) carried forward14 | €-792k | €-793k | €-794k | €-795k | €-797k | ▼ 0.2% |
| Amounts payable17/49 | €32k | €33k | €32k | €37k | €35k | ▼ 5.6% |
| Amounts payable within one year42/48 | €32k | €32k | €32k | €37k | €35k | ▼ 5.6% |
| Trade debts44 | €14k | €14k | €14k | €15k | €15k | ▲ 2.0% |
| Suppliers440/4 | €14k | €14k | €14k | €15k | €15k | ▲ 2.0% |
| Other amounts payable47/48 | €18k | €18k | €17k | €23k | €21k | ▼ 10.4% |
| Accrued charges and deferred income492/3 | - | €480 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-2k | €-897 | €-1k | €-1k | €-2k | ▼ 79.3% |
| Operating cash flow (approximation) | €-2k | €-897 | €-1k | €-1k | €-2k | ▼ 79.3% |
| Change in cash | - | €-483 | €-2k | €4k | €-2k | ▼ 140% |
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
27-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
30-09
Financial
Weakest financial yearnet €-2k
Net result drops to €-2k, the lowest in the series.
16-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 16 days late
2024
29-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
26-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
30-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Elsene · 1 establishment unit since 2003
Ground area
7,228 m²
Building footprint
3,025 m²
Volume, LiDAR
22,940 m³
2 parcels, Brussels, Flanders · tallest building 24.9 m, ±7 floors. Linked by address, not a title deed.
94
companies at this address
See who is registered here
1 establishment unit
Paul Gilsonlaan 86, 1601 Sint-Pieters-Leeuw
since 20032.123.792.531
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23069A0398/00B000 | Flanders | 6,000 m² | 1 · 2,496 m² | 7.9 m · 2 fl. |
| 21807G0218/00E016 | Brussels | 1,228 m² | 1 · 529 m² | 24.9 m · 7 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 263 companies in sector 28300 we hold annual accounts for 197. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded01-01-1968
Fiscal year end30-09
Activities, NACEBEL 2025
28300Manufacture of machinery and equipment not elsewhere classified
Scores and ratios are computed by Checked and are not a credit decision.