NiCADco
ActiveSummary
NiCADco has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €204k and a net result of €32k. Equity is growing by ~14.1% per year across the filed fiscal years. Its solvency ranks better than 90% of 9494 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability86▼-10
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €17k at 30 days acceptable
Liquidity ample (current ratio 8.15 against 8.56 in 2024; short-term debt: 10.4% and cash: 24.4% of total assets), and 10.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
89.6%
Return on assets
13.9%
Age of the figures
12 mo
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
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 28-04-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
2 d early
2023
on the day
2022
8 d late
2021
31 d early
2020
2 d early
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
€204k▲ 7.0%
2024 · €190k
2018: €80klowest in 8 years
2019: €99k▲ +22.7% vs 2018
2020: €107k▲ +8.5% vs 2019
2021: €118k▲ +9.8% vs 2020
2022: €126k▲ +6.9% vs 2021
2023: €163k▲ +29.8% vs 2022
2024: €190k▲ +16.7% vs 2023
2025: €204k▲ +7.0% vs 2024highest in 8 years
2018 → 2025
Total assets
€227k▲ 6.2%
2024 · €214k
2018: €94klowest in 8 years
2019: €110k▲ +16.5% vs 2018
2020: €129k▲ +18.1% vs 2019
2021: €124k▼ -4.2% vs 2020
2022: €137k▲ +10.6% vs 2021
2023: €169k▲ +23.1% vs 2022
2024: €214k▲ +26.7% vs 2023
2025: €227k▲ +6.2% vs 2024highest in 8 years
2018 → 2025
Net result
€32k▼ 32.4%
2024 · €47k
2018: €20k
2019: €18k▼ -6.8% vs 2018
2020: €23k▲ +23.4% vs 2019
2021: €11k▼ -53.2% vs 2020lowest in 8 years
2022: €28k▲ +168% vs 2021
2023: €37k▲ +32.7% vs 2022
2024: €47k▲ +24.8% vs 2023highest in 8 years
2025: €32k▼ -32.4% vs 2024
2018 → 2025
Working capital
€169k▼ 6.0%
2024 · €179k
2018: €74klowest in 8 years
2019: €93k▲ +26.3% vs 2018
2020: €101k▲ +8.0% vs 2019
2021: €114k▲ +13.0% vs 2020
2022: €118k▲ +3.8% vs 2021
2023: €151k▲ +28.0% vs 2022
2024: €179k▲ +18.7% vs 2023highest in 8 years
2025: €169k▼ -6.0% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€118k-€126k▲ 6.9%€163k▲ 29.8%€190k▲ 16.7%€204k▲ 7.0%
2021: €118klowest in 5 years
2022: €126k▲ +6.9% vs 2021
2023: €163k▲ +29.8% vs 2022
2024: €190k▲ +16.7% vs 2023
2025: €204k▲ +7.0% vs 2024highest in 5 years
Operating result€17k-€41k▲ 148%€54k▲ 29.9%€65k▲ 20.8%€43k▼ 33.8%
2021: €17klowest in 5 years
2022: €41k▲ +148% vs 2021
2023: €54k▲ +29.9% vs 2022
2024: €65k▲ +20.8% vs 2023highest in 5 years
2025: €43k▼ -33.8% vs 2024
Net result€11k-€28k▲ 168%€37k▲ 32.7%€47k▲ 24.8%€32k▼ 32.4%
2021: €11klowest in 5 years
2022: €28k▲ +168% vs 2021
2023: €37k▲ +32.7% vs 2022
2024: €47k▲ +24.8% vs 2023highest in 5 years
2025: €32k▼ -32.4% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 34% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €227k
Fixed assets
€35k ▲ 216%
Current assets
€192k ▼ 5.4%
Equity and liabilities €227k
Equity
€204k ▲ 7.0%
Debt
€24k ▼ 0.7%
Debt's share of the balance-sheet total falls from 11.1% to 10.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€50k▼
2024 · €66k
Cash flow
€38k▼
2024 · €48k
Current ratio
8.15▼
2024 · 8.56
Debt to equity
0.12▼
2024 · 0.12
ROE
15.5%▼
2024 · 24.6%
ROA
13.9%▼
2024 · 21.8%
Interest coverage
63.60▼
2024 · 179.20
Debt ≤ 1 year
€24k▼
2024 · €24k
Income taxes
€12k▼
2024 · €18k
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 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€214k€227k▲
Fixed assets21/28€11k€35k▲
Intangible fixed assets21-€0
Tangible fixed assets22/27€11k€35k▲
Land and buildings22-€5k
Plant, machinery and equipment23€7k€6k▼
Furniture and vehicles24-€20k
Other tangible fixed assets26€4k€4k=
Current assets29/58€203k€192k▼
Amounts receivable within one year40/41€35k€31k▼
Trade receivables40€32k€25k▼
Other amounts receivable41€3k€5k▲
Current investments50/53€100k€100k=
Cash at bank and in hand54/58€64k€56k▼
Deferred charges and accrued income490/1€4k€6k▲
Equity and liabilities
Total equity and liabilities10/49€214k€227k▲
Equity10/15€190k€204k▲
Contributions10/11€6k€6k=
Reserves13€184k€198k▲
Distributable reserves133€184k€198k▲
Amounts payable17/49€24k€24k▼
Amounts payable within one year42/48€24k€24k▼
Trade debts44€3k€12k▲
Suppliers440/4€3k€12k▲
Taxes, remuneration and social security45€9k-
Taxes450/3€6k-
Remuneration and social security454/9€3k-
Other amounts payable47/48€12k€11k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€7k▲
Other operating charges640/8€387-
Gross operating margin9900€66k€50k▼
Operating profit (loss)9901€65k€43k▼
Financial income75/76B€314€1k▲
Recurring financial income75€314€1k▲
Financial charges65/66B€368€780▲
Recurring financial charges65€368€780▲
Profit (loss) for the period before taxes9903€65k€43k▼
Income taxes67/77€18k€12k▼
Profit (loss) for the period9904€47k€32k▼
Profit (loss) for the period to be appropriated9905€47k€32k▼
Appropriation of the result
Profit (loss) to be appropriated9906€47k€32k▼
Transfer from equity791/2€20k€18k▼
Transfer to equity691/2€47k€32k▼
To other reserves6921€47k€32k▼
Profit to be distributed694/7€20k€18k▼
Return on contributions (dividend)694€20k€18k▼
The notes to these accounts (9 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 | €2k | €1k | €752 | €1k | €7k | ▲ 539% |
| Other operating charges640/8 | - | €348 | €384 | €387 | - | - |
| Gross operating margin9900 | €19k | €43k | €55k | €66k | €50k | ▼ 25.3% |
| Operating profit (loss)9901 | €17k | €41k | €54k | €65k | €43k | ▼ 33.8% |
| Financial income75/76B | - | €0 | - | €314 | €1k | ▲ 248% |
| Recurring financial income75 | €80 | €0 | - | €314 | €1k | ▲ 248% |
| Financial charges65/66B | - | €1k | €992 | €368 | €780 | ▲ 112% |
| Recurring financial charges65 | €1k | €1k | €992 | €368 | €780 | ▲ 112% |
| Profit (loss) for the period before taxes9903 | €15k | €40k | €53k | €65k | €43k | ▼ 33.3% |
| Income taxes67/77 | €5k | €12k | €15k | €18k | €12k | ▼ 35.6% |
| Profit (loss) for the period9904 | €11k | €28k | €37k | €47k | €32k | ▼ 32.4% |
| Profit (loss) for the period to be appropriated9905 | €11k | €28k | €37k | €47k | €32k | ▼ 32.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €124k | €137k | €169k | €214k | €227k | ▲ 6.2% |
| Fixed assets21/28 | €5k | €8k | €12k | €11k | €35k | ▲ 216% |
| Intangible fixed assets21 | - | - | - | - | €0 | - |
| Tangible fixed assets22/27 | €5k | €8k | €12k | €11k | €35k | ▲ 216% |
| Land and buildings22 | - | - | - | - | €5k | - |
| Plant, machinery and equipment23 | - | €4k | €8k | €7k | €6k | ▼ 15.0% |
| Furniture and vehicles24 | - | - | - | - | €20k | - |
| Other tangible fixed assets26 | - | €4k | €4k | €4k | €4k | = |
| Current assets29/58 | €120k | €130k | €157k | €203k | €192k | ▼ 5.4% |
| Amounts receivable within one year40/41 | €25k | €17k | €32k | €35k | €31k | ▼ 13.0% |
| Trade receivables40 | - | €17k | €32k | €32k | €25k | ▼ 20.3% |
| Other amounts receivable41 | - | €219 | - | €3k | €5k | ▲ 55.6% |
| Current investments50/53 | €25k | €25k | €25k | €100k | €100k | = |
| Cash at bank and in hand54/58 | €61k | €78k | €95k | €64k | €56k | ▼ 12.9% |
| Deferred charges and accrued income490/1 | - | €9k | €5k | €4k | €6k | ▲ 47.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €124k | €137k | €169k | €214k | €227k | ▲ 6.2% |
| Equity10/15 | €118k | €126k | €163k | €190k | €204k | ▲ 7.0% |
| Contributions10/11 | - | €6k | €6k | €6k | €6k | = |
| Reserves13 | €111k | €120k | €157k | €184k | €198k | ▲ 7.3% |
| Distributable reserves133 | - | €120k | €157k | €184k | €198k | ▲ 7.3% |
| Amounts payable17/49 | €6k | €11k | €6k | €24k | €24k | ▼ 0.7% |
| Amounts payable within one year42/48 | €6k | €11k | €6k | €24k | €24k | ▼ 0.7% |
| Trade debts44 | €372 | €1k | €1k | €3k | €12k | ▲ 346% |
| Suppliers440/4 | - | €1k | €1k | €3k | €12k | ▲ 346% |
| Taxes, remuneration and social security45 | - | €5k | €737 | €9k | - | - |
| Taxes450/3 | - | €5k | €737 | €6k | - | - |
| Remuneration and social security454/9 | - | - | - | €3k | - | - |
| Other amounts payable47/48 | - | €6k | €4k | €12k | €11k | ▼ 10.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11k | €28k | €37k | €47k | €32k | ▼ 32.4% |
| + Depreciation and write-downs630 | €2k | €1k | €752 | €1k | €7k | ▲ 539% |
| Operating cash flow (approximation) | €13k | €29k | €38k | €48k | €38k | ▼ 20.0% |
| Investment in fixed assets (approximation) | - | €-4k | €-5k | €0 | €-31k | - |
| Change in cash | - | €17k | €16k | €-31k | €-8k | ▲ 73.4% |
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
28-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Equity above €200kEq €204k ▲7%
8 profitable years in a row build equity to €204k.
28-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Highest result since 2018net €47k ▲24.8%
Operating result €65k, net result €47k, both a record.
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Liquidity doublescurrent ratio 27.32
Current ratio from 11.29 to 27.32; short-term debt falls from €11k to €6k.
30-09
Financial
Equity above €150kEq €163k ▲29.8%
6 profitable years in a row build equity to €163k.
08-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 8 days late
2022
30-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Weakest financial yearnet €11k ▼53.2%
Net result drops to €11k, the lowest in the series; recovery starts the following year.
30-09
Financial
Liquidity quadruplescurrent ratio 20.53
Current ratio from 5.61 to 20.53; short-term debt falls from €22k to €6k.
28-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Show earlier events
2020
30-09
Financial
Equity above €100kEq €107k ▲8.5%
3 profitable years in a row build equity to €107k.
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
29-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
15-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 15 days late
2017
29-03
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 2 acts read
About the unread acts
We know of 2 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
2 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, Oosterzele · 1 establishment unit since 2011
Ground area
1,172 m²
Building footprint
218 m²
Volume, LiDAR
1,643 m³
Parcel 44052A0643/00K000, Flanders · tallest building 10.9 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
NiCADco
since 20112.201.893.664
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44052A0643/00K000 | Flanders | 1,171 m² | 1 · 217 m² | 10.9 m · 3 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.
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Of 11,546 companies in sector 71121 we hold annual accounts for 6,561. 5,111 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
Founded26-08-2011
Fiscal year end30-09
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
Scores and ratios are computed by Checked and are not a credit decision.