NICO
ActiveSummary
NICO has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €169k and a net result of €89k. Equity is growing by ~5.2% per year across the filed fiscal years. Its solvency ranks better than 68% of 10407 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency81▲+28
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14k at 30 days acceptable
Liquidity ample (current ratio 2.18 against 1.32 in 2024; short-term debt: 44.1% and cash: 32.6% of total assets), and 44.3% 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+raises risk○neutral
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 →
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
55.7%
Return on assets
29.4%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 06-08-2026, 6 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
6 d late
2024
19 d late
2023
27 d early
2022
2 d early
2021
32 d early
2020
29 d late
2019
25 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€169k▲ 112%
2024 · €80k
2018: €51k
2019: €51k▲ +0.1% vs 2018
2020: €54k▲ +5.8% vs 2019
2021: €57k▲ +5.0% vs 2020
2022: €58k▲ +1.8% vs 2021
2023: €36k▼ -36.7% vs 2022lowest in 8 years
2024: €80k▲ +119% vs 2023
2025: €169k▲ +112% vs 2024highest in 8 years
2018 → 2025
Total assets
€303k▲ 6.0%
2024 · €286k
2018: €251k
2019: €204k▼ -18.4% vs 2018
2020: €311k▲ +52.3% vs 2019highest in 8 years
2021: €260k▼ -16.4% vs 2020
2022: €204k▼ -21.7% vs 2021lowest in 8 years
2023: €237k▲ +16.2% vs 2022
2024: €286k▲ +20.6% vs 2023
2025: €303k▲ +6.0% vs 2024
2018 → 2025
Net result
€89k▼ 4.4%
2024 · €93k
2018: €17k
2019: €40k▲ +130% vs 2018
2020: €89k▲ +122% vs 2019
2021: €43k▼ -52.0% vs 2020
2022: €17k▼ -60.1% vs 2021lowest in 8 years
2023: €63k▲ +269% vs 2022
2024: €93k▲ +48.4% vs 2023highest in 8 years
2025: €89k▼ -4.4% vs 2024
2018 → 2025
Working capital
€158k▲ 143%
2024 · €65k
2018: €48k
2019: €51k▲ +5.8% vs 2018
2020: €31k▼ -38.7% vs 2019
2021: €22k▼ -29.2% vs 2020
2022: €30k▲ +37.6% vs 2021
2023: €16k▼ -46.3% vs 2022lowest in 8 years
2024: €65k▲ +298% vs 2023
2025: €158k▲ +143% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€57k-€58k▲ 1.8%€36k▼ 36.7%€80k▲ 119%€169k▲ 112%
2021: €57k
2022: €58k▲ +1.8% vs 2021
2023: €36k▼ -36.7% vs 2022lowest in 5 years
2024: €80k▲ +119% vs 2023
2025: €169k▲ +112% vs 2024highest in 5 years
Operating result€54k-€25k▼ 52.9%€82k▲ 225%€123k▲ 49.2%€123k▲ 0.4%
2021: €54k
2022: €25k▼ -52.9% vs 2021lowest in 5 years
2023: €82k▲ +225% vs 2022
2024: €123k▲ +49.2% vs 2023
2025: €123k▲ +0.4% vs 2024highest in 5 years
Net result€43k-€17k▼ 60.1%€63k▲ 269%€93k▲ 48.4%€89k▼ 4.4%
2021: €43k
2022: €17k▼ -60.1% vs 2021lowest in 5 years
2023: €63k▲ +269% vs 2022
2024: €93k▲ +48.4% vs 2023highest in 5 years
2025: €89k▼ -4.4% vs 2024
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 0% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €303k
Fixed assets
€12k ▼ 22.7%
Current assets
€291k ▲ 7.7%
Equity and liabilities €303k
Equity
€169k ▲ 112%
Debt
€134k ▼ 34.9%
Debt's share of the balance-sheet total falls from 72.1% to 44.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€127k▼
2024 · €130k
Cash flow
€93k▼
2024 · €101k
Current ratio
2.18▲
2024 · 1.32
Quick ratio
1.93▲
2024 · 1.18
Debt to equity
0.80▼
2024 · 2.59
ROE
52.8%▼
2024 · 117.0%
ROA
29.4%▼
2024 · 32.6%
Interest coverage
380.58▼
2024 · 417.73
Debt ≤ 1 year
€134k▼
2024 · €206k
Income taxes
€38k▲
2024 · €33k
Staff costs
€130k▼
2024 · €131k
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 · 53 lines
Balance sheet
Code20242025
Assets
Total assets20/58€286k€303k▲
Fixed assets21/28€15k€12k▼
Intangible fixed assets21€1k€0▼
Tangible fixed assets22/27€14k€12k▼
Plant, machinery and equipment23€14k€12k▼
Current assets29/58€271k€291k▲
Stocks and contracts in progress3€28k€34k▲
Stocks30/36€28k€34k▲
Amounts receivable within one year40/41€56k€34k▼
Trade receivables40€41k€31k▼
Other amounts receivable41€15k€3k▼
Current investments50/53€100k€125k▲
Cash at bank and in hand54/58€86k€99k▲
Deferred charges and accrued income490/1€131€24▼
Equity and liabilities
Total equity and liabilities10/49€286k€303k▲
Equity10/15€80k€169k▲
Contributions10/11€6k€6k=
Reserves13€73k€162k▲
Non-distributable reserves130/1€2k€0▼
Reserves not available under the articles1311€2k€0▼
Distributable reserves133€71k€162k▲
Profit (loss) carried forward14€664€879▲
Amounts payable17/49€206k€134k▼
Amounts payable within one year42/48€206k€134k▼
Trade debts44€138k€111k▼
Suppliers440/4€138k€111k▼
Taxes, remuneration and social security45€18k€22k▲
Taxes450/3€4k€8k▲
Remuneration and social security454/9€14k€14k▲
Other amounts payable47/48€50k€0▼
Accrued charges and deferred income492/3€650€700▲
Income statement
Code20242025
Non-recurring operating income76A-€500
Remuneration, social security and pensions62€131k€130k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€3k▼
Other operating charges640/8€1k€3k▲
Gross operating margin9900€262k€260k▼
Operating profit (loss)9901€123k€123k▲
Financial income75/76B€4k€4k▲
Recurring financial income75€4k€4k▲
Financial charges65/66B€311€332▲
Recurring financial charges65€311€332▲
Profit (loss) for the period before taxes9903€126k€127k▲
Income taxes67/77€33k€38k▲
Profit (loss) for the period9904€93k€89k▼
Profit (loss) for the period to be appropriated9905€93k€89k▼
Appropriation of the result
Profit (loss) to be appropriated9906€94k€90k▼
Profit (loss) brought forward from the previous period14P€355€664▲
Transfer from equity791/2€0-
Transfer to equity691/2€43k€89k▲
To other reserves6921€43k€89k▲
Profit to be distributed694/7€50k€0▼
Return on contributions (dividend)694€50k€0▼
Social balance
Average headcount (FTE)90873.53.5=
The notes to these accounts (10 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €500 | - |
| Remuneration, social security and pensions62 | €148k | €119k | €124k | €131k | €130k | ▼ 0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7k | €7k | €7k | €7k | €3k | ▼ 52.7% |
| Other operating charges640/8 | €1k | €1k | €1k | €1k | €3k | ▲ 146% |
| Gross operating margin9900 | €210k | €153k | €214k | €262k | €260k | ▼ 0.9% |
| Operating profit (loss)9901 | €54k | €25k | €82k | €123k | €123k | ▲ 0.4% |
| Financial income75/76B | €418 | €0 | €247 | €4k | €4k | ▲ 0.8% |
| Recurring financial income75 | €418 | €0 | €247 | €4k | €4k | ▲ 0.8% |
| Financial charges65/66B | €45 | €45 | €126 | €311 | €332 | ▲ 6.9% |
| Recurring financial charges65 | €45 | €45 | €126 | €311 | €332 | ▲ 6.9% |
| Profit (loss) for the period before taxes9903 | €54k | €25k | €82k | €126k | €127k | ▲ 0.4% |
| Income taxes67/77 | €11k | €8k | €19k | €33k | €38k | ▲ 13.8% |
| Profit (loss) for the period9904 | €43k | €17k | €63k | €93k | €89k | ▼ 4.4% |
| Profit (loss) for the period to be appropriated9905 | €43k | €17k | €63k | €93k | €89k | ▼ 4.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €260k | €204k | €237k | €286k | €303k | ▲ 6.0% |
| Fixed assets21/28 | €35k | €28k | €21k | €15k | €12k | ▼ 22.7% |
| Intangible fixed assets21 | €16k | €11k | €6k | €1k | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €19k | €17k | €15k | €14k | €12k | ▼ 17.1% |
| Plant, machinery and equipment23 | €19k | €17k | €15k | €14k | €12k | ▼ 17.1% |
| Current assets29/58 | €225k | €176k | €216k | €271k | €291k | ▲ 7.7% |
| Stocks and contracts in progress3 | €35k | €37k | €25k | €28k | €34k | ▲ 20.4% |
| Stocks30/36 | €35k | €37k | €25k | €28k | €34k | ▲ 20.4% |
| Amounts receivable within one year40/41 | €79k | €66k | €53k | €56k | €34k | ▼ 39.9% |
| Trade receivables40 | €55k | €41k | €51k | €41k | €31k | ▼ 24.9% |
| Other amounts receivable41 | €24k | €25k | €3k | €15k | €3k | ▼ 82.4% |
| Current investments50/53 | - | - | €75k | €100k | €125k | ▲ 25.0% |
| Cash at bank and in hand54/58 | €112k | €74k | €63k | €86k | €99k | ▲ 14.3% |
| Deferred charges and accrued income490/1 | €31 | €31 | €31 | €131 | €24 | ▼ 81.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €260k | €204k | €237k | €286k | €303k | ▲ 6.0% |
| Equity10/15 | €57k | €58k | €36k | €80k | €169k | ▲ 112% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €44k | €44k | €30k | €73k | €162k | ▲ 122% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €0 | ▼ 100% |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €0 | ▼ 100% |
| Distributable reserves133 | €42k | €42k | €28k | €71k | €162k | ▲ 128% |
| Profit (loss) carried forward14 | €6k | €7k | €355 | €664 | €879 | ▲ 32.4% |
| Amounts payable17/49 | €204k | €146k | €201k | €206k | €134k | ▼ 34.9% |
| Amounts payable within one year42/48 | €203k | €146k | €200k | €206k | €134k | ▼ 35.0% |
| Trade debts44 | €153k | €129k | €118k | €138k | €111k | ▼ 19.3% |
| Suppliers440/4 | €153k | €129k | €118k | €138k | €111k | ▼ 19.3% |
| Taxes, remuneration and social security45 | €11k | €16k | €24k | €18k | €22k | ▲ 26.5% |
| Taxes450/3 | €2k | €4k | €9k | €4k | €8k | ▲ 113% |
| Remuneration and social security454/9 | €9k | €12k | €15k | €14k | €14k | ▲ 2.9% |
| Other amounts payable47/48 | €40k | €0 | €58k | €50k | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | €650 | €650 | €650 | €650 | €700 | ▲ 7.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €43k | €17k | €63k | €93k | €89k | ▼ 4.4% |
| + Depreciation and write-downs630 | €7k | €7k | €7k | €7k | €3k | ▼ 52.7% |
| Operating cash flow (approximation) | €50k | €24k | €70k | €101k | €93k | ▼ 7.9% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €-2k | €0 | ▲ 100% |
| Change in cash | - | €-38k | €-11k | €24k | €12k | ▼ 47.2% |
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
06-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 6 days late
2025
31-12
Financial
Equity above €150kEq €169k ▲112%
8 profitable years in a row build equity to €169k.
19-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 19 days late
2024
31-12
Financial
Highest result since 2018net €93k ▲48.4%
Net result €93k, the highest in the series.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
29-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet €17k ▼60.1%
Net result drops to €17k, the lowest in the series; recovery starts the following year.
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
29-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 29 days late
2020
25-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 25 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 28 days late
2018
03-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
11-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 42 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Ingelmunster · 1 establishment unit since 2008
Ground area
5,450 m²
Building footprint
365 m²
Volume, LiDAR
2,137 m³
2 parcels, Flanders · tallest building 11.1 m, ±2 floors. Linked by address, not a title deed.
9
companies at this address
See who is registered here
1 establishment unit
AD Delhaize
since 20082.176.574.585
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37015K0055/00K000 | Flanders | 3,401 m² | 1 · 209 m² | 7.1 m · 2 fl. |
| 36007B0950/00C004 | Flanders | 2,049 m² | 1 · 156 m² | 11.1 m · 2 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteTielt2.176.574.585
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Of 3,043 companies in sector 47221 we hold annual accounts for 1,564. 1,311 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
Founded24-05-2007
Fiscal year end31-12
Activities, NACEBEL 2025
47221Retail sale of meat and meat products, excluding game and poultry
Scores and ratios are computed by Checked and are not a credit decision.