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NICDO

Active Public limited companyfounded 2000active for 26 yearsLatemstraat 171, 9830 Sint-Martens-LatemKBO/BCE: BE 0473.107.008 #9 company by equity in Sint-Martens-Latem, Professional and technical services sector
NICDO
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Overview

Lifetime

19 annual accounts with figures on one time axis, 24 filings since 2002
peak €1.3m (2019)
-not published
lowest -€1.1m (2025)
-€1.1m▼ €2.2m
peak €30.7m (2024)
€29.6m▼ 3.5%
€4.8m▲ 12×
peak 1 FTE (2019)
0 FTE 
Board4 names since 2017
2 directorsAlexander Dochy and 1 other
Documentsfilings and deeds
27-07-20264 days before the deadline
2025financial year
Gross margin from €894,262 to €307,721Loss of €1.1mDebts from €398,519 to €4.8mCash from €2.3m to €79,960

Key points

from the 2025 annual accounts

Result

-€1.1m -€1.1m
€1.1m2024-€1.1m2025

From profit to loss in 2025, after a profit of €1.1m in 2024.

Turnover

≈ €470,000 estimated

The accounts state no turnover.

Liquidity

3.96 was 52.03 in 2024

Short-term debts rose from €265,405 to €4.7m.

Filings

24 annual accounts since 2002
AprilJune31 JulyOctober20102020

The last five annual accounts were filed 4 to 42 days before the end of the period.

Group

4 companies controlled

Heads a group.

Position in the sector

-€1.1m

Lower net result than 95% of companies in head offices and management consultancy. Sector median €53,814 · 3,870 companies.

Checked score

92
Excellent
Financially stronger than 36% of medium-sized companies in head offices and management consultancy (NACE 70)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.1% across 801 companies (NACE 70, medium-sized).

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: < 0.1% 01-2025: < 0.1%● unchanged vs 12-2024 02-2025: < 0.1%● unchanged vs 01-2025 03-2025: < 0.1%● unchanged vs 02-2025 04-2025: < 0.1%● unchanged vs 03-2025 05-2025: < 0.1%● unchanged vs 04-2025 06-2025: < 0.1%● unchanged vs 05-2025 07-2025: < 0.1%● unchanged vs 06-2025 08-2025: < 0.1%● unchanged vs 07-2025 09-2025: < 0.1%● unchanged vs 08-2025 10-2025: < 0.1%● unchanged vs 09-2025 11-2025: < 0.1%● unchanged vs 10-2025 12-2025: < 0.1%● unchanged vs 11-2025 01-2026: < 0.1%● unchanged vs 12-2025lowest value 02-2026: < 0.1%● unchanged vs 01-2026 03-2026: < 0.1%● unchanged vs 02-2026 04-2026: < 0.1%● unchanged vs 03-2026 05-2026: < 0.1%● unchanged vs 04-2026 06-2026: < 0.1%● unchanged vs 05-2026 07-2026: < 0.1%● unchanged vs 06-2026 08-2026: 0.1%▲ +0.1 percentage points vs 07-2026highest value 09-2026: 0.1%● unchanged vs 08-2026highest value 10-2026: 0.1%● unchanged vs 09-2026highest value 11-2026: 0.1%● unchanged vs 10-2026highest value

Financial strength
Average

100=equity 85.8% of total assets
48-11short-term debt 13.7% · cash 0.2%
17-13return on assets -3.1%

Score breakdown

raises risk
Liquidity: current ratio 3.96, cash €79,960, halved
Loss of €1.1m (financial year 2025)
lowers risk
Size: total assets €34.5m
Sector: Activities of head offices; management consultancy activities (NACE 70)
Calculation

The band follows from the bankruptcy probability. 10 more points roughly halve it.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 70, medium-sized). It does better than 82% of them on solvency, 36% on liquidity, 7% on profitability and 18% on growth.

The bankruptcy probability was computed on 06-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

The probability rests on the annual accounts with balance sheet date 31-12-2025.

Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.

Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

Comparable companies, two years later

In July 2024, 151 companies had the same profile as NICDO has now. Each dot is one company, two years later.

94.0%
were still trading
4.0%
stopped another way
1.3%
went bankrupt
  • Large
  • 20 years or older
  • solvency 30% or more
  • a small loss

Another 0.7% stopped without a precise date, possibly only after those two years.

The bankruptcy probability of NICDO itself is lower: 0.1% within 12 months. It rests on far more data about NICDO than the profile alone.

Test of the method

The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
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% 0.9%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 151 companies, not a prediction for NICDO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Credit verdict

Credit of up to €2,700,000 on 30-day terms is acceptable

Liquidity is ample, with a current ratio of 3.96 (52.03 in 2024), above the usual 1.5. Short-term debt is 13.7% and cash 0.2% of total assets. 14.2% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Five signals.
lowers riskraises riskneutral
raises risk · Liquidity: current ratio 3.96, cash €79,960, halved
NBB · annual accounts
lowers risk · Size: total assets €34.5m
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
raises risk · Loss of €1.1m (financial year 2025)
NBB · annual accounts
lowers risk · Sector: Activities of head offices; management consultancy activities (NACE 70)
KBO
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-07-2026, 4 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
4 days early
2024
31 days early
2023
14 days early
2022
42 days early
2021
33 days early
2020
31 days early
2019
4 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 23 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 30 June (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
07-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Recent changes

Registered in the Peppol Directory Reachable for e-invoices through 0208:0473107008
Reappointments: Alexander Dochy (managing director) and Nicolas Dochy (director) Gazette deed
Environmental permit granted Slopen van niet vrijstaande gebouwen of constructies · Sint-Pieters-Leeuw
Registered office moved from Dilbeek to Sint-Martens-Latem New registered office: Latemstraat 171, 9830 Sint-Martens-Latem · Previous registered office: Molenberg 21, 1702 Dilbeek (Groot-Bijgaarden) · Resignation: Dochy Maxime (director) · Board meeting of 19-04-2021 · Gazette deed
All 37 events

Comparable companies

same main activity, similar in size and age
Company
NICDO Sint-Martens-Latem €34.5m €307,721 85.8% 0
ESCOFIN Sint-Martens-Latem €37.3m €263,630 79.7% 0
SAKKA Stabroek €30.0m €279,811 59.9% 0
ARSA Lokeren €48.9m €362,115 58.5% 0
@vice Beveren-Kruibeke-Zwijndrecht €45.7m €486,686 96.1% 0
FINPARCO Antwerp €27.5m €251,667 47.9% 0
XVENT Kortrijk €24.9m €288,491 56.5% 0

These companies have the same main activity as NICDO: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €25m and €49m, founded between 1999 and 2003.

Official details

Source: KBO
Status
Active since 24-10-2000Normal situation
Registered office
10 active companies are registered at this addressSource: KBO register, as of 7 November 2026.
Activity
Business and other management consultancyNACE 70200
Establishment unit
2.100.569.1479830 Sint-Martens-Latem, since 07-05-2002
Financial year end
31 December
Peppol
Reachable since 07-01-2026
Company details

Annual accounts 2025

€307,721▼ 65.6%
€1.1m
€29.6m▼ 3.5%
€34.5m▲ 10.7%
Filing
Filed on 27-07-2026, 4 days before the end of the filing period
Financials

Companies linked to NICDO

Insights on NICDO

NICDO has existed since 2000. In 2019 turnover rose from €476,385 to €1.3m and staff from 0.6 to 1 full-time equivalents. This financial year ran 21 months, the previous one 12.

Solvency fell in 2025 from 98.3% to 85.8% because of the loss.

In November 2023, the Official Gazette published the appointment of Alexander Dochy as managing director.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

full format, filed on 27-07-2026, 4 days before the deadline
€307,721
▼ 65.6%
€68,791
▼ 89.4%
€291,460
▼ 66.8%
-€839,264
▼ €2.2m
85.8%
▼ 12.5 percentage points
3.96
▼ 48.07
In the rankings #9 company by equity in Sint-Martens-Latem, Professional and technical services sector

Money flows

no detail for 2025

Balance sheet

balance sheet total €34.5m on 31-12-2025
What the company ownsHow it is paid for

in €m

in €m

Position in the sector

Compare with sector

85.8%

Higher than 80% of 3,871 companies in 2025.

3.96

Higher than 77% of 3,725 companies in 2025.

-3.1%

Higher than 14% of 3,847 companies in 2025.

NICDO Middle half of the sector 80% of the sector Full accounts in head offices and management consultancy (NACE 70)

Net result: bottom quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter · Staff: bottom quarter

Staff

Staff costs divided by the average number of full-time equivalents.

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend2025202420232022202120202019201820172016201520142013201220112010200920082007
Balance sheet: assets
20/58 34.5m31.2m30.0m29.7m29.7m29.9m29.9m10.1m9.4m6.1m5.9m6.0m6.1m5.8m5.2m5.0m3.8m3.3m3.2m
21/28 15.8m17.4m17.1m17.3m12.5m10.2m10.3m8.6m8.3m5.5m5.3m5.7m5.7m5.6m4.9m4.8m3.7m3.0m3.1m
22/27 6.1m6.2m6.8m7.0m7.2m4.9m5.0m2.1m1.9m2.0m2.0m2.3m2.4m2.3m1.6m1.7m1.7m1.1m1.1m
22 5.8m5.9m6.6m6.7m6.9m4.6m4.8m1.8m1.9m2.0m2.0m2.3m2.4m2.3m1.6m1.7m1.7m1.1m1.1m
23 -----02191,6062,4653,324432548-------
24 276,571252,936254,366255,869253,181251,401252,189255,4162,5915,4789,28813,72716,88521,885--4,9049,90414,904
28 9.7m11.2m10.2m10.3m5.3m5.3m5.3m6.5m6.4m3.5m3.3m3.4m3.3m3.3m3.3m3.1m2.0m2.0m1.9m
280/1 ----5.3m5.3m5.3m6.5m6.4m3.5m3.3m3.4m3.3m3.3m3.3m3.1m2.0m2.0m1.9m
280 ----5.3m5.3m5.3m6.5m6.4m3.5m3.3m3.4m3.3m3.3m3.3m3.1m2.0m2.0m1.9m
282/3 ----9,5000-------------
282 ----9,500--------------
29/58 18.7m13.8m13.0m12.4m17.2m19.7m19.6m1.5m1.1m582,297622,110394,334465,470159,279317,723206,684162,023216,981119,046
29 2.8m2.7m2.6m2.6m7.5m7.7m8.2m160,000-----------
291 2.8m2.7m2.6m2.6m7.5m7.7m8.2m160,000-----------
3 ----00-------------
40/41 1.3m1.1m3.1m2.9m4.3m5.6m4.2m1.3m846,126543,243574,097359,635438,298131,092293,287200,929151,494204,37686,996
40 73,42440,30330,10927,02392,72475,98276,93722,308103,71717,30058,429108,885114,40016,300151,25075,020143,990197,23080,667
41 1.2m1.1m3.1m2.9m4.2m5.5m4.1m1.3m742,409525,943515,668250,750323,898114,792142,037125,9097,5047,1466,329
50/53 14.6m7.8m6.6m3.7m3.0m2.1m-------------
51/53 ----3.0m2.1m-------------
54/58 79,9602.3m633,7973.2m2.3m4.4m7.2m33,690250,40120,87527,76613,73211,37214,15713,2414,36410,53012,60531,409
490/1 3,9853,8925,1534,7294,3323,8963,97020,07620,20318,17920,24720,96715,80014,03011,1951,390--642
Balance sheet: equity and liabilities
10/49 34.5m31.2m30.0m29.7m29.7m29.9m29.9m10.1m9.4m6.1m5.9m6.0m6.1m5.8m5.2m5.0m3.8m3.3m3.2m
10/15 29.6m30.7m29.5m29.1m28.9m28.7m28.5m5.5m5.0m3.6m2.7m2.4m1.5m1.5m1.2m1.1m936,362787,162591,271
10/11 1.3m1.3m1.3m1.3m1.3m1.3m1.3m1.3m1.3m1.3m1.3m1.3m125,000125,000125,000125,000125,000125,000125,000
10 1.3m1.3m1.3m1.3m1.3m--------------
100 1.3m1.3m1.3m1.3m1.3m1.3m1.3m1.3m1.3m1.3m1.3m1.3m125,000125,000125,000125,000125,000125,000125,000
13 28.3m29.4m28.2m27.8m27.6m27.4m27.2m4.2m3.7m2.3m1.4m1.1m1.4m1.3m1.1m949,560811,362662,162466,271
130/1 131,300131,300131,300131,300131,300131,300-------------
130 131,300131,300131,300131,300131,300131,300131,300131,300131,300131,300131,300131,30012,50012,50012,50012,50012,50012,50012,500
132 499,866522,655-----------------
133 27.7m28.7m28.1m27.7m27.4m27.3m27.1m4.0m3.6m2.2m1.3m926,0991.4m1.3m1.1m937,060798,862649,662453,771
16 124,966130,664-----------------
168 124,966130,664-----------------
17/49 4.8m398,519498,496622,885797,0011.2m1.3m4.6m4.4m2.5m3.2m3.7m4.6m4.3m4.0m3.9m2.9m2.5m2.6m
17 0133,114277,106421,098565,090709,082853,0741.2m1.4m730,802997,7441.4m1.7m2.0m1.8m1.9m1.5m1.0m1.2m
170/4 0133,114277,106421,098565,090709,082853,0741.2m1.4m730,802974,5661.4m1.6m1.9m1.6m1.8m1.3m860,965980,131
170 -----------149,996149,996149,996273,943273,943273,943273,943273,943
173 ----565,090709,082853,0741.2m1.4m730,802974,5661.2m1.5m1.8m1.4m1.5m1.0m587,022706,188
178/9 ----------23,17846,35669,53492,712115,890139,068162,246185,424208,602
42/48 4.7m265,405221,390201,787231,911469,994462,8503.5m2.9m1.7m2.2m2.2m2.9m2.3m2.2m2.0m1.4m1.4m1.4m
42 133,114143,992143,992143,992143,992143,992164,335264,643273,204243,764270,551260,553256,764253,158229,369235,567143,612119,167114,406
43 -------8271,108-2,64316,78114,20017,49025,75280,000160,000240,000320,000
430/8 ---------------80,000160,000240,000320,000
439 -------8271,108-2,64316,78114,20017,49025,752----
44 95317,56018,6645,28912,5735,98917,06314,9527,9818,71824,7455,7687,2505,3822,29647,60110,62512,2838,205
440/4 95317,56018,6645,28912,5735,98917,06314,9527,9818,71824,7455,7687,2505,3822,29647,60110,62512,2838,205
46 031,940-----------------
45 8,18540,3267,71110,30610,374237,443242,679233,963104,337118,34167,75671,36668,20578,01146,93416,29968,63674,60610,547
450/3 8,18540,3267,71110,3068,952235,178237,220230,746104,337118,34167,75671,36668,20578,01146,93416,29968,63674,60610,047
454/9 ---01,4212,2655,4593,217----------500
47/48 4.6m31,58751,02442,20064,97382,56938,7743.0m2.6m1.4m1.8m1.9m2.5m1.9m1.9m1.6m1.0m957,981911,107
492/3 66,053------8,7566,5435,6077,76219,86125,29422,04719,62129,87219,76825,40126,849
Income statement
70/76A ----512,868506,4791.4m880,980910,317915,670859,518746,676759,451869,633654,242554,699588,566550,605454,404
70 ----492,128479,3661.3m476,385478,107484,025452,332472,330485,690454,000354,242253,485438,566456,605454,404
74 ----20,740--------------
76A ----04,15390,000--171,716-890,666---440---
9900 307,721894,262251,073309,205---------------
60/66A ----543,142443,4701.0m261,548312,745306,340496,089386,293329,111239,550186,529213,623262,594162,816168,058
60 ----31,18729,703839------------
600/8 ----31,18729,703839------------
61 ----232,992224,870490,599137,535206,548195,711212,421261,227218,798152,088128,433121,858124,666116,729121,515
62 -0757,25814,56517,39578,69721,933-----------
630 222,669230,077238,672239,627248,173160,297424,62892,53296,334101,055273,833115,561102,15180,68752,09256,183133,62242,10139,986
640/8 16,26115,17815,32711,45516,22511,20550,9619,5479,8649,5749,8349,5058,1626,7756,00435,5824,3063,9866,557
66A ----------90,000--------
9901 68,791649,007-3,00150,865-30,27463,010392,188619,433597,572609,331363,429360,383430,340630,084467,713341,076325,972387,789286,346
75/76B 396,4971.9m619,474241,040245,000201,64323.0m106,6521.1m520,152367,05214,10912,2365,6726,4362,77150,301186124,735
75 396,4971.9m619,474241,040245,000201,64322.9m106,6521.1m520,152367,05214,10912,2365,6726,4362,77150,301186124,735
750 -------74,9281.1m511,787349,533--------
751 ----242,439201,170336,59031,72412,3448,36517,51914,10912,2365,6726,4362,77150,301185124,735
752/9 ----2,56147322.5m----------0-
76B -----090,000------------
65/66B 1.5m1.1m83,95022,10526,03223,07166,85877,39666,23579,24690,181164,035193,139192,171182,731113,06281,99385,502120,113
65 1.5m1.1m33,95022,10526,03223,07166,85877,39666,23579,24690,181164,035193,139192,171182,731113,06281,99385,502120,113
650 ----17,07220,84863,86675,71865,60278,68389,549163,499192,533192,171182,731113,06281,85885,284120,113
652/9 ----8,9612,2232,9921,678634562632536607---135218-
66B -050,000----------------
9903 -1.0m1.4m532,523269,800188,694241,58323.3m648,6881.7m1.2m550,2991.1m249,438443,585291,418231,225294,280302,472290,969
780 5,6975,489-----------------
680 0136,153-----------------
67/77 18,872103,44993,67135,49347,69165,274230,337200,878169,916158,43471,64142,14145,090126,32974,46673,02761,880106,58158,677
670/3 ----47,69165,274230,380200,878169,916158,43471,64142,14145,090126,32974,46673,02761,880106,62258,677
77 -----043-----0----40-
9904 -1.1m1.1m438,852234,307141,003176,30923.1m447,8101.5m1.1m478,6581.1m204,348317,256216,952158,198232,400195,891232,292
789 22,78921,956-----------------
689 0544,611-----------------
9905 -1.0m625,156438,852234,307141,003176,30923.1m447,8101.5m1.1m478,6581.1m204,348317,256216,952158,198232,400195,891232,292
Appropriation of the result
9906 -1.0m625,156438,852234,307141,003176,30923.1m447,8101.5m1.1m478,6581.1m204,348317,256216,952158,198232,400195,891337,697
791/2 1.0m--------80,000-1.3m-------
792 ---------80,000-1.3m-------
691/2 0625,156438,852234,307141,003176,30923.1m447,8101.4m963,518378,658958,98384,648242,256141,952138,198149,200195,891337,697
6920 -----------118,800-------
6921 0625,156438,852234,307141,003176,30923.1m447,8101.4m963,518378,658840,18384,648242,256141,952138,198149,200195,891337,697
694/7 --------100,000180,000100,0001.4m119,70075,00075,00020,00083,200--
694 ---------80,000-1.3m-------
695 --------100,000100,000100,000100,000119,70075,00075,00020,00083,200--
Social balance sheet
9087 0000.20.6110.6-----------
Women (FTE)1003 ----0.6110.6-----------
Hours worked1013 ---3422394033,091942-----------
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The accounts for 5 older financial years (2002-2006) were filed as documents without figures as data, scans for example.

The notes to these accounts have 18 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 27-07-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2025 full format 27-07-2026 2026-00336397 PDF
31-12-2024 abbreviated format 30-06-2025 2025-00224243 PDF
31-12-2023 abbreviated format 17-07-2024 2024-00270130 PDF
31-12-2022 abbreviated format 19-06-2023 2023-00159527 PDF
31-12-2021 full format 28-06-2022 2022-20132511 PDF
31-12-2020 full format 30-06-2021 2021-28600448 PDF
31-12-2019 full format 27-07-2020 2020-34400215 PDF
31-03-2018 full format 26-10-2018 2018-70400252 PDF
31-03-2017 full format 09-10-2017 2017-67100458 PDF
31-03-2016 full format 27-10-2016 2016-66700276 PDF
31-03-2015 full format 30-09-2015 2015-62800500 PDF
31-03-2014 full format 02-10-2014 2014-63900038 PDF
31-03-2013 full format 30-10-2013 2013-64400423 PDF
31-03-2012 full format 30-10-2012 2012-62300023 PDF
31-03-2011 full format 28-10-2011 2011-58800580 PDF
31-03-2010 full format 29-10-2010 2010-59200056 PDF
31-03-2009 full format 29-10-2009 2009-82900109 PDF
31-03-2008 full format 28-11-2008 2008-82700266 PDF
31-03-2007 full format 28-09-2007 2007-74300066 PDF
31-03-2006 full format 29-09-2006 2006-82401333 PDF
31-03-2005 full format 28-10-2005 2005-83801297 PDF
31-03-2004 abbreviated format 11-10-2004 2004-72702476 PDF
31-03-2003 abbreviated format 01-10-2003 2003-71705003 PDF
31-03-2002 abbreviated format 18-10-2002 2002-67005207 PDF

Subsidies and aid

Flemish government 2022 to 2024, 3 entries, €891 awarded, €891 paid

Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
€891
Year Entries AwardedPaid
2024 1 €297€297
2023 1 €297€297
2022 1 €297€297

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend2025202420232022202120202019201820172016201520142013201220112010200920082007
291,460879,084235,671290,492217,900223,306816,816711,965693,905710,385637,262475,944532,491710,771519,805397,259459,594429,889326,332
-839,2641.4m677,524473,934389,176336,60623.5m540,3421.6m1.2m752,4921.2m306,498397,943269,044214,382366,022237,992272,277
264,0361.1m57,6445.1m2.6m4,4214.0m387,1962.9m325,58416,105138,913163,138799,461131,4391.3m762,30536,0366,937
-2.2m1.6m-2.6m903,391-2.1m-2.8m7.1m-216,710229,526-6,89114,0342,360-2,7859168,878-6,166-2,075-18,804-
14.0m13.5m12.8m12.2m16.9m19.3m19.1m-1.9m-1.8m-1.2m-1.6m-1.8m-2.4m-2.1m-1.9m-1.8m-1.2m-1.2m-1.2m
-----6.2%13.1%31.3%---80.3%76.3%88.6%---74.3%84.9%63.0%
85.8%98.3%98.3%97.9%97.3%96.1%95.6%54.1%53.5%59.4%46.4%39.2%25.1%25.3%23.3%21.4%24.4%24.1%18.6%
3.9652.0358.6461.6374.0842.0242.250.440.380.330.290.180.160.070.140.100.120.150.09
0.160.010.020.020.030.040.050.850.870.681.161.552.982.963.283.673.103.154.36
-3.6%3.7%1.5%0.8%0.5%0.6%80.8%8.2%29.8%29.3%17.4%44.7%13.2%21.7%17.8%14.7%24.8%24.9%39.3%
-3.1%3.7%1.5%0.8%0.5%0.6%77.2%4.4%15.9%17.4%8.1%17.5%3.3%5.5%4.2%3.2%6.1%6.0%7.3%
0.190.786.9413.1412.7610.7112.799.4010.589.037.122.912.773.702.843.515.615.042.72
----69 days58 days22 days17 days79 days13 days47 days84 days86 days13 days156 days108 days120 days158 days65 days
----17 days9 days13 days40 days14 days16 days43 days8 days12 days13 days7 days143 days31 days38 days25 days

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Social balance sheet

Item31-12-202231-12-2021
Employees at the balance-sheet date11
full-time00
part-time11
in full-time equivalents0.20.2
0.20.6
On a permanent contract11

Source: social balance sheet in the 2021 to 2022 annual accounts

Securities and guarantees

on own assets and for others
Item20252024202320222021
Debts secured on the company's own assets€133,114€277,106€421,098€565,090€709,082
Mortgages, amount registered€660,000€660,000€660,000€660,000€660,000
Carrying value of the mortgaged assets€385,189€220,703€207,212€179,861€204,926
Pledge on other assets, amount secured€1.0m€1.0m€1.0m€1.0m€1.0m
Carrying value of the other pledged assets€2.4m€2.4m€2.4m€2.4m€2.4m

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets€264,036€70,394€57,644€55,104€2.6m
Financial fixed assets-€980,162-€5.0m€9,500
€222,669€230,077€238,672€239,627€248,173

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on NICDO

The operating result for 2025 is 89% lower than in 2024.

Debt's share of the balance-sheet total rises from 1.3% to 13.9%. Equity is lower and debt is higher.

Board & ownership

Board

2 directors, 1 in day-to-day management, last change in 2023
Alexander Dochy
Director and managing director
director since 05-06-2023 managing director in office according to the deed of 10-11-2023 6-year term from 2023
listed in the 2025 annual accounts, filed on 27-07-2026
Dochy Nicholas
Director
current term since 05-06-2023 term until 05-06-2029
listed in the 2025 annual accounts, filed on 27-07-2026
Alexander Dochy

Office holders in the KBO →

Mandates through the years

4 names, the dashed line is today
Alexander Dochy
Director, Managing director
Dochy Nicholas
Director
Nicolas Dochy
Director
Dochy Maxime
Director
LeadershipBoardEarlierRest of the termmandate already running before its first mentionend not dated
Mandates as a list
  • Alexander Dochy
    • Director, from 06-09-2017 to date
    • Managing director, since before 05-06-2023
  • Dochy Nicholas
    • Director, appointed by deed of 19-07-2021, still in office
  • Nicolas Dochy
    • Director, from before 05-06-2023, no longer listed in the 2025 annual accounts
  • Dochy Maxime
    • Director, until 19-04-2021

See the board, name and registered office on a given date →

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Capital
€1,313,000
Shares
125
Contribution per share
€10,504
Equity per share
€236,993 in 2025
Source
deed of 10-11-2023

Articles of association

deed of 10-11-2023 (in Dutch)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Board ruleThese rules set how the board is made up, meets and takes decisions.
At least 3 directors
At most 6 directors
“6 jaar”

Network & group

Holdings

own 2025 accounts, the bar shows equity in euros
This companyNICDO8 holdings, 2 countries 2025 accounts

Belgium 7 Year Equity Result

Europe 1 Year Equity Result

  • FR CSP50% 2024€242,456 result -€16,071 (2024)

Source: list of holdings in its own 2025 accounts. Holdings that file themselves stand with their latest accounts, the others with the amounts of that list, in their own currency.

Heads the group NICDO Group, risk and exposure
The LEI register names no parent.

At the same address

Latemstraat 171, 9830 Sint-Martens-Latem · 9 other companies
HYco
registered office since 15-02-1993 · founded in 1992
 total assets €2.3m (2025)
0446.899.685
P.L.S.'97
registered office since 15-09-1997 · founded in 1997 · group NICDO
 total assets €1.8m (2025)
0461.444.539
TRIANGLE
registered office since 08-08-2005 · founded in 2004 · group NICDO
 total assets €1.3m (2025)
0870.078.023
JoPaVa
registered office since 21-10-2015 · founded in 2015 · negative equity (2024)
 total assets €21,738 (2024)
0641.752.988
Trinity
registered office since 16-12-2024
 founded in 2024
1017.702.917
Paradise
registered office since 15-12-2023
 founded in 2023
1007.325.303
CAM-unity
registered office since 01-11-2018
 founded in 2018
0723.877.148
VERENIGING VAN MEDE-EIGENAARS VAN DE RESIDENTIE RYDER CUP, TE 9830 SINT-MARTENS-LATEM, LATEMSTRAAT 171
registered office since 30-09-2008
 founded in 2008
0890.504.045
Mignon, Geert (sole trader)
establishment since 26-02-1997
 founded in 1991
0712.330.287

Holdings and subsidiaries

8 holdings

Holdings 8

Share, source and own figures per holding (8)

Source for every holding own accounts 2025

  • IMMOBILIERE DE LA GRAND PLACEsubsidiary
    Equity €6.7m Profit of €298,429 in 2025 (profit of €697,475 in 2024) Checked score 95
    99.92%
  • P.L.S.'97subsidiary
    Equity €1.7m Profit of €113,231 in 2025 (profit of €32,814 in 2024) Checked score 97
    99.89%
  • TRIANGLEsubsidiary
    Equity €1.2m Profit of €112,183 in 2025 (profit of €105,845 in 2024) Checked score 96
    99.88%
  • BRUSSELS SIGHTSEEINGsubsidiary
    Equity -€108,277 Loss of €356,648 in 2025 (loss of €406,870 in 2024) Checked score 49
    90%
  • CSPFR
    Equity €242,456Result -€16,071
    50%
  • PORTA AGATHA
    Equity -€701,513 Loss of €454,164 in 2025 (loss of €551,168 in 2024)
    20%
  • Porta Agatha Construct
    Equity -€260,958 Loss of €77,005 in 2025 (loss of €76,083 in 2024) Checked score 53
    20%
  • SMARTFLATS
    Equity €260,472 Loss of €7.9m in 2024 (loss of €204,436 in 2023) Checked score 4
    10.8%
Holdings through the years 2007 to 2025
Holdings through the years
Name2007200820092010201120122013201420152016201720182019202020212022202320242025
IMMOBILIERE DE LA GRAND PLACE 99.92%
P.L.S.'97 99.99%99.89%
TRIANGLE 99.9%99.88%
BRUSSELS SIGHTSEEING 90%
CSPFR 50%
PORTA AGATHA 20%
Porta Agatha Construct 20%
SMARTFLATS 26.07%33.49%10.8%12.56%10.8%
Modern Toerisme 99.99%
CIRCLE 99.9%
ZUUN - CARS 99.87%
NICE TRAVELLING 89.77%
OPEN TOURS - LES VOYAGES BELGES 68.24%
GEGA GAUFRE 98.92%
AMSTERDAM SIGHTSEEINGNL 100%66.67%
BRUSSELS CITY TOURS 50%

Source: list of holdings in its own accounts

Board mandates elsewhere

3 board mandates
Board mandates of NICDONICDO sits on their board3
SMARTFLATS
Director · 50 locations · open bankruptcy
Founded in 2012 · 23 FTE (2024)
BRUSSELS SIGHTSEEING
Director
Founded in 2006 · total assets €1.2m (2025) · negative equity · group NICDO
TRIANGLE
Managing director
Founded in 2004 · total assets €1.3m (2025) · group NICDO

Connections & network

2 current directors
Depth

The board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, zoom with the mouse wheel.

Timeline

Timeline

37 events since 2000

Deadline for the 2026 accounts: 31-07-2027

2026
Annual accounts 2025 filed NBBfull format · 4 days before the deadline
Registered in the Peppol Directory Reachable for e-invoices through 0208:0473107008
2025
Weakest financial year net -€1.1m The net result drops to -€1.1m, the lowest from 2007 to 2025.
Annual accounts 2024 filed PDFabbreviated format · 31 days before the deadline
2024
Annual accounts 2023 filed PDFabbreviated format · 14 days before the deadline
2023
Reappointments: Alexander Dochy (managing director) and Nicolas Dochy (director)7 points ▸
  • Director reappointment, Alexander Dochy
  • Director reappointment, Nicolas Dochy
  • Director reappointment, Alexander Dochy (managing director)
  • Registered office clause, Latemstraat 171, 9830 Sint-Martens-Latem
  • Power of attorney, Titeca Accountancy
  • Power of attorney, Annelies Ghesquière
  • Capital, €1,313,000, 125 shares
  • The deed holds 2 more points.

Open the deed in the Belgian Official Gazette

Environmental permit granted OmgevingsloketSlopen van niet vrijstaande gebouwen of constructies · Sint-Pieters-Leeuw
Annual accounts 2022 filed PDFabbreviated format · 42 days before the deadline
2022
Annual accounts 2021 filed PDFfull format · 33 days before the deadline
2021
Registered office moved from Dilbeek to Sint-Martens-LatemNew registered office: Latemstraat 171, 9830 Sint-Martens-Latem · Previous registered office: Molenberg 21, 1702 Dilbeek (Groot-Bijgaarden) · Resignation: Dochy Maxime (director) · Board meeting of 19-04-20214 points ▸
  • Board meeting, 19-04-2021
  • Registered-office move, Latemstraat 171, 9830 Sint-Martens-Latem
  • Director resignation, Dochy Maxime
  • Director appointment, Dochy Nicholas
  • The deed holds 1 more point.

Open the deed in the Belgian Official Gazette

Annual accounts 2020 filed PDFfull format · 31 days before the deadline
2020
Annual accounts 2019 filed PDFfull format · 4 days before the deadline
2019
Highest result from 2007 to 2025 net €23.1m ▲5,052% The net result of €23.1m is the highest of those years.
Liquidity more than 95 times current ratio 42.25 The current ratio rises from 0.44 to 42.25. Short-term debt falls from €3.5m to €462,850.
Equity above €25m equity €28.5m ▲421% With a profit in every financial year since 2007, equity grows to €28.5m.
2018
Annual accounts 2018 filed PDFfull format · 5 days before the deadline
2017
Annual accounts 2017 filed PDFfull format · 22 days before the deadline
Equity above €5m equity €5.0m ▲38.5% With a profit in every financial year since 2007, equity grows to €5.0m.
2016
Annual accounts 2016 filed PDFfull format · 4 days before the deadline
2015
Annual accounts 2015 filed PDFfull format · 31 days before the deadline
2014
Annual accounts 2014 filed PDFfull format · 29 days before the deadline
Equity above €2m equity €2.4m ▲53.6% With a profit in every financial year since 2007, equity grows to €2.4m.
2013
Annual accounts 2013 filed PDFfull format · 1 day before the deadline
2012
Annual accounts 2012 filed PDFfull format · 1 day before the deadline
2011
Annual accounts 2011 filed PDFfull format · 3 days before the deadline
2010
Annual accounts 2010 filed PDFfull format · 2 days before the deadline
Equity above €1m equity €1.1m ▲14.8% With a profit in every financial year since 2007, equity grows to €1.1m.
2009
Annual accounts 2009 filed PDFfull format · 2 days before the deadline
2008
Annual accounts 2008 filed PDFfull format · 28 days late
2007
Annual accounts 2007 filed PDFfull format · 33 days before the deadline
2006
Annual accounts 2006 filed PDFfull format · 32 days before the deadline
2005
Annual accounts 2005 filed PDFfull format
2004
Annual accounts 2004 filed PDFabbreviated format
2003
Annual accounts 2003 filed PDFabbreviated format
2002
Annual accounts 2002 filed PDFabbreviated format
First establishment Latemstraat 171, Sint-Martens-Latem
2000
Incorporation published on 31-10-2000

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

On 24 October 2000, NICDO was incorporated.1 In 2021 the registered office moved to Sint-Martens-Latem.2 Turnover went from €1.3m in 2019 to €492,128 in 2021 and headcount from 1 full-time equivalents in 2019 to 0.2 in 2022.3

  1. 1KBO register
  2. 2Belgian Official Gazette, 19-07-2021
  3. 3National Bank, annual accounts 2019, 2021 and 2022

Company details

Identity

Enterprise number
0473.107.008
VAT number
BE 0473.107.008
Peppol ID
0208:0473107008
Other Peppol ID
9925:BE0473107008
LEI code
875500RCJRRPHDL34Z17 live in the LEI register
Legal form
Public limited company
Status
Active, normal situation
Founded
24-10-2000
Financial year
ends on 31 December
Peppol
Reachable since 07-01-2026Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
NICDO in Dutch
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 10-11-2023 (in Dutch)
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest”
deed of 10-11-2023 (in Dutch)

Activities

NACEBEL 2025
70200 Business and other management consultancy main activity
Codes under NACEBEL 2008
70220 Business consulting main activity
Codes under NACEBEL 2003
74142 main activity
PurposeThe purpose describes the activities the company may carry out under its articles.
“Het verstrekken van operationeel en intellectueel advies betreffende de commerciële organisatie en uitbating van productiebedrijven of…”
23 activities
  1. Het verstrekken van operationeel en intellectueel advies betreffende de commerciële organisatie en uitbating van productiebedrijven of dienstverlenende ondernemingen;
  2. Het optreden als tussenpersoon in de handel,dit in de ruimste zin van het woord;
  3. Het verlenen van commercieel advies betreffende de marketing van producten van productie of dienstverlenende ondernemingen;
  4. Het verlenen van administratief,financieel en managementadvies betreffende het bestuur van diverse ondernemingen in de meest ruime zin van het woord;
  5. Het bestuur waarnemen van andere vennootschappen of ondernemingen en daarvoor vergoedingen ontvangen;
  6. Het opzetten,het besturen,het promoten en het uitvoeren van alle projecten in verband met informatica en bureautica en aanverwante toepassingen;
  7. Het uitvoeren van studies,het programmeren en opstarten van organisatiesystemen en publiciteitsverkoop;
  8. Het beheren van een onroerend patrimonium en het valoriseren van dit patrimonium door het stellen van alle bestuursdaden onder meer aankoop,verkoop,verhuren,in huur nemen,ruilen,oprichting,laten uitvoeren van bouwwerken,dit alles in de ruimste zin;
  9. Het beheren van bedrijfsruimtes en het valoriseren ervan door het stellen van alle bestuursdaden onder meer,oprichting,aankoop,verkoop,ruilen,laten uitvoeren van bouwwerken en het ter beschikking stellen ervan;dit alles in de ruimste zin;
  10. Het beheren van een roerend patrimonium inzonderheid het verwerven en verhandelen van effecten,de participatie in andere vennootschappen en/of ondernemingen,het stellen van zakelijke of persoonlijke waarborgen in het voordeel van derden;
  11. Het verwerven en beheren van een kunstpatrimonium en dat in de meest ruime zin;de aankoop,verkoop,het verhuren,het tentoonstellen tegen vergoeding van kunstwerken en in het algemeen handel in de kunst;
  12. Het verwerven van licenties,brevetten en octrooien,alle rechten op knowhow en ontwikkelde procedés;
  13. De vennootschap mag zich borgstellen of zakelijke zekerheden verstrekken ten voordele van derden of ondernemingen of vennootschappen waarin zij belangen bezit als mede-eigenaar,vennoot,schuldeiser of op andere wijze;
  14. Zij mag op welke wijze ook betrokken zijn in zaken,ondernemingen of vennootschappen die hetzelfde,een soortgelijk,een gelijkaardig of samenhangend voorwerp hebben of die de ontwikkeling van haar onderneming kunnen bevorderen;
  15. De groot- en kleinhandel van souvenirs en reisartikelen in de meest ruime zin van het woord;
  16. Het verstrekken van financieel en operationeel advies over machines,software,computergestuurde machines,alsmede de begeleiding bij de aan- en verkoop van voormelde machines;
  17. Het uitbaten van autobuslijnen;
  18. Het beheren en uitbaten van een toerisme-activiteit,zowel voor eigen rekening als voor rekening van derden;Hieronder dient verstaan te worden:Het beheren en uitbaten van reisburelen,Het beheren en uitbaten van autocars,De aan- en verkoop van trein-,boot-,en vliegtuigtickets,Het charteren van vliegtuigen,Het huren en verhuren van vakantiewoningen,Alle hotelreservaties,Het organiseren van evenementen,Het organiseren van sightseeing,Het verkopen van georganiseerde reizen,dagtrips,weekendtrips,Het verhuren en inhuren van gidsen,Deze opsomming geldt enkel als aanduiding en is in generlei mate beperkend.
  19. Het huren en verhuren van alle mogelijke voertuigen,zoals personenwagens,minibussen,autobussen,autocars,caravans,limousines,taxi’s en van vaartuigen,telkens zowel met als zonder chauffeur;
  20. Het ondernemen,het beheren,het organiseren en het uitvoeren van elke vorm van transport,zowel in België als in het buitenland,zowel voor eigen rekening als voor rekening van derden;
  21. Alle immobiliaire operaties of ermee verband houdende verrichtingen met name:de aankoop,verkoop,ruiling,het bouwen,het laten bouwen,het huren,verhuren,ter beschikking stellen van gebouwen en gronden,de omvorming of ombouwing en valorisatie van onroerende goederen,in voorkomend geval door middel van lotissering,verkaveling,nieuwbouw,heropbouw of verbouwing,alle activiteiten van makelaar in onroerende goederen;
  22. Alle verrichtingen in verband met private en openbare bouwwerken die dit voorwerp kunnen bevorderen of ermee verwant zijn en dit zowel in België als in het buitenland,hetzij voor eigen rekening als voor rekening van derden;
  23. Het uitbaten van een restaurant,traiteur,frituur,snackbar.
deed of 10-11-2023 (in Dutch)

Registered office and establishments

1 establishment
Establishment Since Unit number
Latemstraat 171 registered office 9830 Sint-Martens-Latem 07-05-2002 2.100.569.147
1 former office
  • Molenberg 21, 1702 Dilbeek(Groot-Bijgaarden) until 19-04-2021 · deed of 19-07-2021

Buildings and parcels at the address

Ground area
5,506 m²
Buildings
549 m²
Volume, LiDAR
5,297 m³
Tallest building
14.0 m
Buildings to scale, each on its own parcel
549 m², 13.9 m 549 m², 13.9 m

Environmental permits

1 application in Flanders since 2023 · 1 granted
09-10-2023 Granted Slopen van niet vrijstaande gebouwen of constructies submitted 26-06-2023 · project 2023084202 Sint-Pieters-Leeuw

Source: Omgevingsloket Vlaanderen.

Location

registered office establishment The establishment unit on the map
10 companies at this address See who is registered here

Parcels

Cadastral parcelArea Buildings Height / floors
44064B0002/00W0005,506 m² 1 · 549 m² 13.9 m · 3

Notices of general meetings

General meeting
on 07-09-2011 at 19:00 · at the registered office · published on 18-08-2011
Jaarverslag. Goedkeuring jaarrekening. Bestemming resul- taat. Kwijting bestuurders. (Her)Benoemingen. Bezoldiging. Divers. (AOPC-1-11-03749/ 18.08)

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