NICAM STORE
ActiveSummary
The computed 12-month bankruptcy probability of NICAM STORE is 4.2% (elevated). The 2026 annual accounts show negative equity (-€43,091) and a net result of -€67,886. Equity is shrinking by ~118% per year across the filed fiscal years. Its solvency ranks better than 16% of 244 sector peers (fiscal year 2026). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2026
Axes · tick = 2025
Profitability0▼-72
Solvency14▼-17
Growth32▼-46
Track record94
Bankruptcy probability, 12 months
4.2%
Elevated
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.79 against 0.92 in 2025; short-term debt: 102.7% and cash: 6.9% of total assets), and equity is negative.
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Signals
Seven signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2026Solvency, return and age of the figures
Solvency
-11.3%
Return on assets
-17.7%
Age of the figures
8 mo
raises risk · Negative equity
The 2026 annual accounts show negative equity and a net loss.
NBB · annual accounts 2026Equity per financial year
242526
2024 to 2026 · latest year -€43,091
neutral · Latest accounts filed on time
The financial year that closed on 31-01-2026 was due by 31-08-2026 and was filed on 30-06-2026, 62 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2026
62 d early
2025
37 d early
2024
61 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 53 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-01-2027 and is due by 31-08-2027. Nothing is late today. Usually files around 2 July (3 of the last 3 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-01-2027 close31-08-2027 deadline
History
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Financials · fiscal year 2026, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€67,886
2025 · €9,364
Working capital
-€82,480▼ 208%
2025 · -€26,783
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
favourable
unfavourable
Line202420252026
Operating result-€707-€18,206-€65,662
Net result-€4,569below the sector's middle half-€9,364within the sector's middle half-€67,886
Equity€15,431below the sector's middle half-€24,795below the sector's middle half▲ 60.7%-€43,091
Total assets€296,215below the sector's middle half-€392,252below the sector's middle half▲ 32.4%€382,812▼ 2.4%
Debt€280,784-€367,457▲ 30.9%€425,903▲ 15.9%
Working capital-€34,171below the sector's middle half--€26,783below the sector's middle half▲ 21.6%-€82,480▼ 208%
Solvency5.2%below the sector's middle half-6.3%below the sector's middle half▲ 1.1pp-11.3%▼ 17.6pp
Current ratio0.85below the sector's middle half-0.92below the sector's middle half▲ 0.070.79▼ 0.13
Return on assets (ROA)-1.5%below the sector's middle half-2.4%within the sector's middle half▲ 3.9pp-17.7%▼ 20.1pp
Staff (FTE)1.5below the sector's middle half-2.8below the sector's middle half▲ 86.7%3.5▲ 25.0%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2026: a loss of €65,662 after €18,206 in 2025, the lowest result in the available series.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €382,812
Fixed assets
€72,224 ▼ 23.7%
Current assets
€310,588 ▲ 4.4%
Key figures and ratios
EBITDA
-€43,271▼
2025 · €39,954
Cash flow
-€45,495▼
2025 · €31,112
Quick ratio
0.11▼
2025 · 0.13
Debt to equity
-9.88▼
2025 · 14.82
Interest coverage
-9.09▼
2025 · 6.57
Debt ≤ 1 year
€393,068▲
2025 · €324,420
Debt > 1 year
€27,186▼
2025 · €42,406
Staff costs
€123,058▲
2025 · €90,508
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 7,638 companies that looked in July 2024 the way this one looks now, 8.9% went bankrupt within 24 months and 85% are still going.
- Micro
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
8.9%
went bankrupt
5.6%
stopped otherwise
85%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 4.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 7,638 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €38,996 | €90,508 | €123,058 | ▲ 36.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,555 | €21,748 | €22,391 | ▲ 3.0% |
| Other operating charges640/8 | €450 | €2,145 | €3,899 | ▲ 81.8% |
| Gross operating margin9900 | €57,294 | €132,607 | €83,686 | ▼ 36.9% |
| Operating profit (loss)9901 | -€707 | €18,206 | -€65,662 | ▼ 461% |
| Financial income75/76B | €368 | €854 | €2,535 | ▲ 197% |
| Recurring financial income75 | €368 | €854 | €2,535 | ▲ 197% |
| Financial charges65/66B | €3,999 | €6,079 | €4,759 | ▼ 21.7% |
| Recurring financial charges65 | €3,999 | €6,079 | €4,759 | ▼ 21.7% |
| Profit (loss) for the period before taxes9903 | -€4,338 | €12,981 | -€67,886 | ▼ 623% |
| Income taxes67/77 | €231 | €3,617 | - | - |
| Profit (loss) for the period9904 | -€4,569 | €9,364 | -€67,886 | ▼ 825% |
| Profit (loss) for the period to be appropriated9905 | -€4,569 | €9,364 | -€67,886 | ▼ 825% |
| Line | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €296,215 | €392,252 | €382,812 | ▼ 2.4% |
| Fixed assets21/28 | €107,770 | €94,615 | €72,224 | ▼ 23.7% |
| Tangible fixed assets22/27 | €107,770 | €94,615 | €72,224 | ▼ 23.7% |
| Land and buildings22 | €105,330 | €92,776 | €70,986 | ▼ 23.5% |
| Plant, machinery and equipment23 | €1,240 | €939 | €638 | ▼ 32.1% |
| Furniture and vehicles24 | €1,200 | €900 | €600 | ▼ 33.3% |
| Current assets29/58 | €188,445 | €297,637 | €310,588 | ▲ 4.4% |
| Stocks and contracts in progress3 | €164,263 | €255,153 | €268,130 | ▲ 5.1% |
| Stocks30/36 | €164,263 | €255,153 | €268,130 | ▲ 5.1% |
| Amounts receivable within one year40/41 | €382 | €1,982 | €4,512 | ▲ 128% |
| Trade receivables40 | €382 | €1,982 | €4,512 | ▲ 128% |
| Cash at bank and in hand54/58 | €14,823 | €22,453 | €26,383 | ▲ 17.5% |
| Deferred charges and accrued income490/1 | €8,977 | €18,049 | €11,563 | ▼ 35.9% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €296,215 | €392,252 | €382,812 | ▼ 2.4% |
| Equity10/15 | €15,431 | €24,795 | -€43,091 | ▼ 274% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | = |
| Profit (loss) carried forward14 | -€4,569 | €4,795 | -€63,091 | ▼ 1,416% |
| Amounts payable17/49 | €280,784 | €367,457 | €425,903 | ▲ 15.9% |
| Amounts payable after more than one year17 | €56,858 | €42,406 | €27,186 | ▼ 35.9% |
| Financial debts170/4 | €56,858 | €42,406 | €27,186 | ▼ 35.9% |
| Amounts payable within one year42/48 | €222,616 | €324,420 | €393,068 | ▲ 21.2% |
| Current portion of amounts payable after more than one year42 | €14,835 | €15,623 | €16,454 | ▲ 5.3% |
| Trade debts44 | €106,881 | €147,002 | €144,557 | ▼ 1.7% |
| Suppliers440/4 | €106,881 | €147,002 | €144,557 | ▼ 1.7% |
| Taxes, remuneration and social security45 | €19,144 | €24,267 | €28,616 | ▲ 17.9% |
| Taxes450/3 | €11,787 | €14,195 | €7,813 | ▼ 45.0% |
| Remuneration and social security454/9 | €7,357 | €10,072 | €20,803 | ▲ 107% |
| Other amounts payable47/48 | €81,756 | €137,528 | €203,441 | ▲ 47.9% |
| Accrued charges and deferred income492/3 | €1,310 | €631 | €5,649 | ▲ 795% |
| Line | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,569 | €9,364 | -€67,886 | ▼ 825% |
| + Depreciation and write-downs630 | €18,555 | €21,748 | €22,391 | ▲ 3.0% |
| Operating cash flow (approximation) | €13,986 | €31,112 | -€45,495 | ▼ 246% |
| Investment in fixed assets (approximation) | - | -€8,593 | €0 | ▲ 100% |
| Change in cash | - | €7,630 | €3,930 | ▼ 48.5% |
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 2027, expected by
2026
30-06
NBB filing
Annual accounts filed
fiscal year 2026 · abbreviated schema
31-01
Financial
Weakest financial yearnet -€67,886
Net result drops to -€67,886, the lowest in the series.
2025
25-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
31-01
Financial
Back to profitnet €9,364
Net result €9,364 after one loss-making year.
2024
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Ath · 2 establishment units since 2023
Ground area
2.7 ha
Building footprint
863 m²
Volume, LiDAR
3,041 m³
2 parcels, Wallonia · tallest building 5.7 m, ±1 floor. Linked by address, not a title deed.
2 establishment units
IKONE
since 20232.341.992.546
Nicam Store
since 20242.362.862.788
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 51004B3328/00A000 | Wallonia | 2.3 ha | 1 · 111 m² | - |
| 51004B0683/00X000 | Wallonia | 3,889 m² | 1 · 752 m² | 5.7 m · 1 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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Of 6,495 companies in sector 47716 we hold annual accounts for 2,440. 1,650 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
Founded08-02-2023
Fiscal year end31-01
Activities, NACEBEL 2025
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
47715Retail trade
47722Retail trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0798229232
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.