Result
-€1.1m -€1.1m
From profit to loss in 2025, after a profit of €1.1m in 2024.
NICDO
Lifetime
19 annual accounts with figures on one time axis, 24 filings since 2002peak €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 accountsTurnover
≈ €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
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 · 3,872 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 803 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 strengthAverage
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 19% on growth.
The bankruptcy probability was computed on 09-11-2026 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
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.
| 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.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 filingsDeviation 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 monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
Shares in 8 companies, including IMMOBILIERE DE LA GRAND PLACE and P.L.S.'97
Board & ownershipRecent 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
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 10 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
Annual accounts 2025
- €34.5m▲ 10.7%
- Filing
- Filed on 27-07-2026, 4 days before the end of the filing period
Companies linked to NICDO
Subsidiaries and holdings
- TRIANGLE99.88%
- BRUSSELS SIGHTSEEING90%
- PORTA AGATHA20%
- Porta Agatha Construct20%
- SMARTFLATS10.8%
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. Click a figure with a dotted line for the item and the filing.
Key facts about NICDO
- What is the company number of NICDO?
- The company number of NICDO is 0473.107.008. The VAT number is the same number with BE in front: BE 0473.107.008.
- Where is NICDO based?
- The registered office is at Latemstraat 171, 9830 Sint-Martens-Latem.Company details
- What does NICDO do?
- According to the KBO register, the main activity is business and other management consultancy (NACE 70200).
- What is the legal form of NICDO?
- NICDO is a public limited company (NV).
- When was NICDO founded?
- NICDO was founded on 24-10-2000.
- Is NICDO still active?
- Yes, NICDO is an active enterprise in the KBO register.
- How many employees does NICDO have?
- NICDO had an average of 0.2 full-time equivalents in financial year 2022, according to the filed annual accounts.Financials
- What is the turnover of NICDO?
- The turnover in financial year 2025 is ≈ €470,000. This figure is estimated from the gross margin of €307,721 and 74 comparable companies (NACE 70200). It probably lies between €360,000 and €850,000. In financial year 2021 turnover was €492,128.
- Is NICDO profitable?
- In financial year 2025, NICDO made a loss of €1.1m.
- Where can I find the annual accounts of NICDO?
- NICDO filed 24 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of NICDO due?
- NICDO must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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