NIC CONSTRUCT
ActiveSummary
NIC CONSTRUCT has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €45k and a net result of €-24k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 78% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency94▼-6
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2.5k at 30 days acceptable
Liquidity ample (current ratio 3.28; short-term debt: 30.5% of total assets), and 30.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
69.5%
Return on assets
-37.2%
Age of the figures
12 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 €-24k
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 03-03-2026, 58 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
58 d early
2024
2 d early
2023
22 d early
2022
5 d early
2021
8 d early
2020
3 d early
2019
1 d early
← 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
€45k▼ 34.9%
2024 · €69k
2018: €-31klowest in 8 years
2019: €22k▲ +171% vs 2018
2020: €17k▼ -24.6% vs 2019
2021: €6k▼ -64.0% vs 2020
2022: €59k▲ +881% vs 2021
2023: €84k▲ +42.9% vs 2022highest in 8 years
2024: €69k▼ -18.2% vs 2023
2025: €45k▼ -34.9% vs 2024
2018 → 2025
Total assets
€64k▼ 6.6%
2024 · €69k
2018: €65k
2019: €124k▲ +91.1% vs 2018
2020: €145k▲ +17.0% vs 2019highest in 8 years
2021: €99k▼ -31.5% vs 2020
2022: €125k▲ +26.4% vs 2021
2023: €96k▼ -23.8% vs 2022
2024: €69k▼ -27.8% vs 2023
2025: €64k▼ -6.6% vs 2024lowest in 8 years
2018 → 2025
Net result
€-24k▼ 56.9%
2024 · €-15k
2018: €57k
2019: €68k▲ +19.2% vs 2018highest in 8 years
2020: €-5k▼ -108% vs 2019
2021: €-11k▼ -96.1% vs 2020
2022: €53k▲ +595% vs 2021
2023: €25k▼ -52.2% vs 2022
2024: €-15k▼ -161% vs 2023
2025: €-24k▼ -56.9% vs 2024lowest in 8 years
2018 → 2025
Working capital
€45k▼ 34.7%
2024 · €68k
2018: €51k
2019: €68k▲ +32.8% vs 2018
2020: €58k▼ -15.0% vs 2019
2021: €2k▼ -97.3% vs 2020lowest in 8 years
2022: €57k▲ +3470% vs 2021
2023: €83k▲ +47.1% vs 2022highest in 8 years
2024: €68k▼ -17.8% vs 2023
2025: €45k▼ -34.7% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€6k-€59k▲ 881%€84k▲ 42.9%€69k▼ 18.2%€45k▼ 34.9%
2021: €6klowest in 5 years
2022: €59k▲ +881% vs 2021
2023: €84k▲ +42.9% vs 2022highest in 5 years
2024: €69k▼ -18.2% vs 2023
2025: €45k▼ -34.9% vs 2024
Operating result€-10k-€68k€34k▼ 49.7%€-18k€-25k▼ 40.3%
2021: €-10k
2022: €68k▲ +755% vs 2021highest in 5 years
2023: €34k▼ -49.7% vs 2022
2024: €-18k▼ -151% vs 2023
2025: €-25k▼ -40.3% vs 2024lowest in 5 years
Net result€-11k-€53k€25k▼ 52.2%€-15k€-24k▼ 56.9%
2021: €-11k
2022: €53k▲ +595% vs 2021highest in 5 years
2023: €25k▼ -52.2% vs 2022
2024: €-15k▼ -161% vs 2023
2025: €-24k▼ -56.9% 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 €25k in 2025 against €18k 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
Equity and liabilities €64k
Equity
€45k ▼ 34.9%
Debt
€20k ▲ 6,767%
Debt's share of the balance-sheet total rises from 0.4% to 30.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-25k▼
2024 · €-17k
Cash flow
€-24k▼
2024 · €-15k
Current ratio
3.28
Debt to equity
0.44▲
2024 · 0.00
ROE
-53.5%▼
2024 · -22.2%
ROA
-37.2%▼
2024 · -22.1%
Interest coverage
-18.32▼
2024 · -15.36
Debt ≤ 1 year
€20k▲
2024 · €286
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 · 33 lines
Balance sheet
Code20242025
Assets
Total assets20/58€69k€64k▼
Fixed assets21/28€188-
Tangible fixed assets22/27€188-
Plant, machinery and equipment23€188-
Current assets29/58€69k€64k▼
Amounts receivable within one year40/41€60k€64k▲
Trade receivables40€10k€27k▲
Other amounts receivable41€49k€37k▼
Cash at bank and in hand54/58€9k-
Equity and liabilities
Total equity and liabilities10/49€69k€64k▼
Equity10/15€69k€45k▼
Contributions10/11€20k€20k=
Reserves13€49k€25k▼
Distributable reserves133€49k€25k▼
Amounts payable17/49€286€20k▲
Amounts payable within one year42/48€286€20k▲
Financial debts43-€19k
Credit institutions430/8-€19k
Trade debts44€286€951▲
Suppliers440/4€286€951▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€437€188▼
Other operating charges640/8€752€1k▲
Gross operating margin9900€-17k€-23k▼
Operating profit (loss)9901€-18k€-25k▼
Financial income75/76B€4k€2k▼
Recurring financial income75€4k€2k▼
Financial charges65/66B€1k€1k▲
Recurring financial charges65€1k€1k▲
Profit (loss) for the period before taxes9903€-15k€-24k▼
Profit (loss) for the period9904€-15k€-24k▼
Profit (loss) for the period to be appropriated9905€-15k€-24k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-15k€-24k▼
Transfer from equity791/2€15k€24k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4k | €4k | €1k | €437 | €188 | ▼ 57.0% |
| Other operating charges640/8 | €2k | €591 | €940 | €752 | €1k | ▲ 84.3% |
| Gross operating margin9900 | €-4k | €73k | €37k | €-17k | €-23k | ▼ 40.8% |
| Operating profit (loss)9901 | €-10k | €68k | €34k | €-18k | €-25k | ▼ 40.3% |
| Financial income75/76B | €1k | €3k | €3k | €4k | €2k | ▼ 36.9% |
| Recurring financial income75 | €1k | €3k | €3k | €4k | €2k | ▼ 36.9% |
| Financial charges65/66B | €2k | €2k | €1k | €1k | €1k | ▲ 19.7% |
| Recurring financial charges65 | €2k | €2k | €1k | €1k | €1k | ▲ 19.7% |
| Profit (loss) for the period before taxes9903 | €-11k | €70k | €36k | €-15k | €-24k | ▼ 56.9% |
| Income taxes67/77 | - | €18k | €11k | - | - | - |
| Profit (loss) for the period9904 | €-11k | €53k | €25k | €-15k | €-24k | ▼ 56.9% |
| Profit (loss) for the period to be appropriated9905 | €-11k | €53k | €25k | €-15k | €-24k | ▼ 56.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €99k | €125k | €96k | €69k | €64k | ▼ 6.6% |
| Fixed assets21/28 | €4k | €2k | €625 | €188 | - | - |
| Tangible fixed assets22/27 | €4k | €2k | €625 | €188 | - | - |
| Plant, machinery and equipment23 | €2k | €1k | €625 | €188 | - | - |
| Furniture and vehicles24 | €2k | €1k | - | - | - | - |
| Current assets29/58 | €95k | €123k | €95k | €69k | €64k | ▼ 6.4% |
| Amounts receivable within one year40/41 | €33k | €121k | €94k | €60k | €64k | ▲ 8.1% |
| Trade receivables40 | €6k | €71k | €23k | €10k | €27k | ▲ 166% |
| Other amounts receivable41 | €28k | €50k | €72k | €49k | €37k | ▼ 25.0% |
| Cash at bank and in hand54/58 | €61k | €2k | €440 | €9k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €99k | €125k | €96k | €69k | €64k | ▼ 6.6% |
| Equity10/15 | €6k | €59k | €84k | €69k | €45k | ▼ 34.9% |
| Contributions10/11 | €20k | €20k | €20k | €20k | €20k | = |
| Reserves13 | €2k | €39k | €64k | €49k | €25k | ▼ 49.2% |
| Non-distributable reserves130/1 | €1k | €1k | €1k | - | - | - |
| Reserves not available under the articles1311 | €1k | €1k | €1k | - | - | - |
| Distributable reserves133 | €1k | €38k | €63k | €49k | €25k | ▼ 49.2% |
| Profit (loss) carried forward14 | €-16k | - | - | - | - | - |
| Amounts payable17/49 | €93k | €67k | €12k | €286 | €20k | ▲ 6,767% |
| Amounts payable within one year42/48 | €93k | €67k | €12k | €286 | €20k | ▲ 6,767% |
| Financial debts43 | - | - | - | - | €19k | - |
| Credit institutions430/8 | - | - | - | - | €19k | - |
| Trade debts44 | €23k | €6k | €315 | €286 | €951 | ▲ 232% |
| Suppliers440/4 | €23k | €6k | €315 | €286 | €951 | ▲ 232% |
| Advances received on contracts in progress46 | - | €43k | - | - | - | - |
| Taxes, remuneration and social security45 | €692 | €18k | €11k | - | - | - |
| Taxes450/3 | €692 | €18k | €11k | - | - | - |
| Other amounts payable47/48 | €70k | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-11k | €53k | €25k | €-15k | €-24k | ▼ 56.9% |
| + Depreciation and write-downs630 | €4k | €4k | €1k | €437 | €188 | ▼ 57.0% |
| Operating cash flow (approximation) | €-7k | €56k | €27k | €-15k | €-24k | ▼ 60.3% |
| Investment in fixed assets (approximation) | - | €-1k | €0 | €0 | - | - |
| Change in cash | - | €-59k | €-2k | €9k | - | - |
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
03-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Weakest financial yearnet €-24k
Net result drops to €-24k, the lowest in the series.
28-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Liquidity times 29current ratio 240.44
Current ratio from 8.18 to 240.44; short-term debt falls from €12k to €286.
08-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Liquidity quadruplescurrent ratio 8.18
Current ratio from 1.85 to 8.18; short-term debt falls from €67k to €12k.
25-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Back to profitnet €53k
Net result €53k after 2 loss-making years.
22-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
27-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
29-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Highest result since 2018net €68k ▲19.2%
Net result €68k, the highest in the series.
Show earlier events
02-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Oudenaarde · 1 establishment unit since 2008
Ground area
292 m²
Building footprint
175 m²
Volume, LiDAR
1,139 m³
Parcel 45035B0003/02R030, Flanders · tallest building 11.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
NIC CONSTRUCT
since 20082.170.176.050
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45035B0003/02R030 | Flanders | 292 m² | 1 · 175 m² | 11.2 m · 2 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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Of 9,693 companies in sector 68121 we hold annual accounts for 7,385. 4,924 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded18-02-2008
Fiscal year end30-09
Activities, NACEBEL 2025
68121Development of residential building projects
16230Manufacture of other builders' carpentry and joinery
Scores and ratios are computed by Checked and are not a credit decision.