NICAPHIS
ActiveSummary
NICAPHIS has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €53.27M and a net result of €6.39M. Equity is growing by ~4.6% per year across the filed fiscal years. Its solvency ranks better than 83% of 709 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
77
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability62▼-18
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2M at 30 days acceptable
Liquidity ample (current ratio 8.64 against 8.27 in 2024; short-term debt: 4.9% and cash: 2.2% of total assets), and 17.5% 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 · 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
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
82.5%
Return on assets
9.9%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 23-12-2025, 39 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
39 d early
2024
43 d early
2023
9 d early
2022
42 d early
2021
10 d early
2020
19 d early
2019
21 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 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close24-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€6.39M▲ 26.0%
2024 · €5.07M
2019: €2.74M
2020: €5.21M
2021: €1.79M
2022: €2.28M
2023: €4.25M
2024: €5.07M
2019 → 2025
Working capital
€24.33M▲ 16.6%
2024 · €20.87M
2019: €12.74M
2020: €19.48M
2021: €12.69M
2022: €14.27M
2023: €14.77M
2024: €20.87M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€42.70M-€44.29M▲ 3.7%€45.17M▲ 2.0%€48.89M▲ 8.2%€53.27M▲ 9.0%
Operating result€-408k-€481k€612k▲ 27.3%€2.94M▲ 380%€-396k
Net result€1.79M-€2.28M▲ 27.2%€4.25M▲ 86.7%€5.07M▲ 19.4%€6.39M▲ 26.0%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €396k after €2.94M in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €64.61M
Fixed assets
€37.09M ▲ 13.5%
Current assets
€27.51M ▲ 15.9%
Equity and liabilities €64.61M
Equity
€53.27M ▲ 9.0%
Provisions
€1.83M ▼ 5.1%
Debt
€9.51M ▲ 69.6%
Debt's share of the balance-sheet total rises from 9.9% to 14.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€903k▼
2024 · €3.61M
Cash flow
€7.69M▲
2024 · €5.74M
Current ratio
8.64▲
2024 · 8.27
Debt to equity
0.18▲
2024 · 0.11
ROE
12.0%▲
2024 · 10.4%
ROA
9.9%▲
2024 · 9.0%
Interest coverage
-213.28▼
2024 · 41.19
Debt ≤ 1 year
€3.18M▲
2024 · €2.87M
Debt > 1 year
€6.28M▲
2024 · €2.69M
Income taxes
€926k▲
2024 · €778k
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 · 67 lines
Balance sheet
Code20242025
Assets
Total assets20/58€56.42M€64.61M▲
Fixed assets21/28€32.67M€37.09M▲
Tangible fixed assets22/27€11.59M€15.89M▲
Land and buildings22€11.18M€14.77M▲
Furniture and vehicles24€27k€11k▼
Leasing and similar rights25€362k€274k▼
Other tangible fixed assets26€25k€25k=
Assets under construction and advance payments27-€810k
Financial fixed assets28€21.08M€21.21M▲
Current assets29/58€23.75M€27.51M▲
Amounts receivable after more than one year29€11.28M€12.35M▲
Other amounts receivable291€11.28M€12.35M▲
Amounts receivable within one year40/41€42k€240k▲
Trade receivables40€7k€120k▲
Other amounts receivable41€35k€119k▲
Current investments50/53€11.10M€13.29M▲
Cash at bank and in hand54/58€1.13M€1.40M▲
Deferred charges and accrued income490/1€198k€231k▲
Equity and liabilities
Total equity and liabilities10/49€56.42M€64.61M▲
Equity10/15€48.89M€53.27M▲
Contributions10/11€6.50M€6.50M=
Capital10€6.50M€6.50M=
Issued capital100€6.50M€6.50M=
Reserves13€22.44M€26.82M▲
Non-distributable reserves130/1€1.01M€1.01M=
Legal reserve130€1.01M€1.01M=
Tax-exempt reserves132€7.51M€7.21M▼
Distributable reserves133€13.93M€18.60M▲
Profit (loss) carried forward14€19.96M€19.96M=
Provisions and deferred taxes16€1.92M€1.83M▼
Deferred taxes168€1.92M€1.83M▼
Amounts payable17/49€5.61M€9.51M▲
Amounts payable after more than one year17€2.69M€6.28M▲
Financial debts170/4€2.69M€6.28M▲
Amounts payable within one year42/48€2.87M€3.18M▲
Current portion of amounts payable after more than one year42€244k€407k▲
Trade debts44€90k€46k▼
Suppliers440/4€90k€46k▼
Taxes, remuneration and social security45€785k€720k▼
Taxes450/3€785k€720k▼
Other amounts payable47/48€1.75M€2.01M▲
Accrued charges and deferred income492/3€42k€48k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€670k€1.30M▲
Other operating charges640/8€321k€304k▼
Gross operating margin9900€3.93M€1.21M▼
Operating profit (loss)9901€2.94M€-396k▼
Financial income75/76B€3.45M€7.61M▲
Recurring financial income75€3.45M€7.54M▲
Non-recurring financial income76B-€71k
Financial charges65/66B€88k€-4k▼
Recurring financial charges65€88k€-4k▼
Profit (loss) for the period before taxes9903€6.30M€7.22M▲
Transfer from deferred taxes780€87k€98k▲
Transfer to deferred taxes680€538k€0▼
Income taxes67/77€778k€926k▲
Profit (loss) for the period9904€5.07M€6.39M▲
Transfer from tax-exempt reserves789€707k€715k▲
Transfer to tax-exempt reserves689€2.35M€421k▼
Profit (loss) for the period to be appropriated9905€3.43M€6.69M▲
Appropriation of the result
Profit (loss) to be appropriated9906€24.73M€26.64M▲
Profit (loss) brought forward from the previous period14P€21.31M€19.96M▼
Transfer from equity791/2-€2.01M
Transfer to equity691/2€3.43M€6.69M▲
To other reserves6921€3.43M€6.69M▲
Profit to be distributed694/7€1.35M€2.01M▲
Return on contributions (dividend)694€1.35M€2.01M▲
Social balance
Average headcount (FTE)9087-0.0
The notes to these accounts (25 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
23-12
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
30-06
Financial
Highest result since 2019net €6.39M ▲26%
Net result €6.39M, the highest in the series.
30-06
Financial
Equity above €50MEq €53.27M ▲9%
7 profitable years in a row build equity to €53.27M.
2024
19-12
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
22-01
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2022
20-12
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
30-06
Financial
Liquidity doublescurrent ratio 7.60
Current ratio from 3.79 to 7.60; short-term debt falls from €4.55M to €2.16M.
21-01
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
30-06
Financial
Weakest financial yearnet €1.79M ▼65.7%
Net result drops to €1.79M, the lowest in the series; recovery starts the following year.
12-01
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
07-02
State Gazette act
General meeting · Merger
Capital increase · Share issue · Paul MASELIS
10-01
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Show earlier events
2019
28-01
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
11-01
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
23-12
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 13 acts read
About the unread acts
We know of 13 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
13 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 1988
Ground area
505 m²
Building footprint
394 m²
Volume, LiDAR
4,735 m³
2 parcels, Brussels · tallest building 17.7 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
NICAPHIS SA
since 19882.038.918.917
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21822R0226/00C010 | Brussels | 311 m² | 1 · 200 m² | 17.7 m · 5 fl. |
| 21811M0470/00K000 | Brussels | 194 m² | 1 · 194 m² | 13.4 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels 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 (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Recognitions · licences · registrations
Legal Entity Identifier
967600Z3UTJJ13YJHD44
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Of 2,713 companies in sector 73200 we hold annual accounts for 1,783. 99 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded09-12-1987
Fiscal year end30-06
Activities, NACEBEL 2025
73200Market research and public opinion polling
46643Wholesale of electrical equipment, including installation materials
Sources
Crossroads Bank for EnterprisesNational Bank · 38 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.