NICOVAN
ActiveSummary
NICOVAN has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €111k and a net result of €19k. Equity is growing by ~20.8% per year across the filed fiscal years. Its solvency ranks better than 39% of 36375 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2024
66
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability77▼-4
Solvency62▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7k at 30 days acceptable
Liquidity tight (current ratio 1.3 against 1.4 in 2023; short-term debt: 26.7% and cash: 6.8% of total assets), and 62.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
+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 43
Relative position
BE, all sectors
reference
Sector 43
higher
← 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 2024Solvency, return and age of the figures
Solvency
37.2%
Return on assets
6.4%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 03-07-2025, 28 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
not confirmed
2024
28 d early
2023
7 d early
2022
6 d early
2021
37 d early
2020
4 d early
2019
3 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Turnover
€304k
EBIT margin
5.4%
Net result
€19k▼ 30.9%
2023 · €27k
2018: €11k
2019: €3k
2020: €8k
2021: €9k
2022: €11k
2023: €27k
2018 → 2024
Working capital
€24k▼ 14.2%
2023 · €28k
2018: €17k
2019: €31k
2020: €16k
2021: €1k
2022: €2k
2023: €28k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€44k-€53k▲ 19.4%€64k▲ 21.3%€92k▲ 42.8%€111k▲ 20.7%
Operating result€11k-€12k▲ 12.0%€15k▲ 23.4%€38k▲ 160%€31k▼ 18.3%
Net result€8k-€9k▲ 14.1%€11k▲ 31.4%€27k▲ 143%€19k▼ 30.9%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 18% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €297k
Fixed assets
€194k ▲ 2.6%
Current assets
€103k ▲ 5.1%
Equity and liabilities €297k
Equity
€111k ▲ 20.7%
Debt
€187k ▼ 4.6%
Debt's share of the balance-sheet total falls from 68.1% to 62.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€50k▼
2023 · €55k
Cash flow
€38k▼
2023 · €44k
Current ratio
1.30▼
2023 · 1.40
Quick ratio
1.26▲
2023 · 0.82
Debt to equity
1.69▼
2023 · 2.14
ROE
17.2%▼
2023 · 30.0%
ROA
6.4%▼
2023 · 9.6%
Interest coverage
11.47▼
2023 · 14.40
Debt ≤ 1 year
€79k▲
2023 · €70k
Debt > 1 year
€107k▼
2023 · €125k
Income taxes
€8k▲
2023 · €7k
Staff costs
€62k▲
2023 · €61k
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 · 2024 against 2023 · 49 lines
Balance sheet
Code20232024
Assets
Total assets20/58€287k€297k▲
Fixed assets21/28€189k€194k▲
Tangible fixed assets22/27€189k€194k▲
Land and buildings22€168k€160k▼
Plant, machinery and equipment23€553€187▼
Furniture and vehicles24€20k€34k▲
Current assets29/58€98k€103k▲
Stocks and contracts in progress3€41k€3k▼
Stocks30/36€3k€2k▼
Contracts in progress37€38k€2k▼
Amounts receivable within one year40/41€44k€75k▲
Trade receivables40€43k€73k▲
Other amounts receivable41€2k€3k▲
Cash at bank and in hand54/58€9k€20k▲
Deferred charges and accrued income490/1€4k€4k▲
Equity and liabilities
Total equity and liabilities10/49€287k€297k▲
Equity10/15€92k€111k▲
Contributions10/11€19k€19k=
Reserves13€73k€92k▲
Distributable reserves133€73k€92k▲
Amounts payable17/49€196k€187k▼
Amounts payable after more than one year17€125k€107k▼
Financial debts170/4€125k€107k▼
Amounts payable within one year42/48€70k€79k▲
Current portion of amounts payable after more than one year42€18k€18k▲
Trade debts44€12k€17k▲
Suppliers440/4€12k€17k▲
Taxes, remuneration and social security45€15k€18k▲
Taxes450/3€9k€16k▲
Remuneration and social security454/9€6k€2k▼
Other amounts payable47/48€26k€27k▲
Accrued charges and deferred income492/3€334-
Income statement
Code20232024
Non-recurring operating income76A€9k€83▼
Remuneration, social security and pensions62€61k€62k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€16k€19k▲
Other operating charges640/8€2k€2k▼
Gross operating margin9900€117k€114k▼
Operating profit (loss)9901€38k€31k▼
Financial income75/76B€63€63▲
Recurring financial income75€63€63▲
Financial charges65/66B€4k€4k▲
Recurring financial charges65€4k€4k▲
Profit (loss) for the period before taxes9903€35k€27k▼
Income taxes67/77€7k€8k▲
Profit (loss) for the period9904€27k€19k▼
Profit (loss) for the period to be appropriated9905€27k€19k▼
Appropriation of the result
Profit (loss) to be appropriated9906€27k€19k▼
Transfer to equity691/2€27k€19k▼
To other reserves6921€27k€19k▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €100kEq €111k ▲20.7%
7 profitable years in a row build equity to €111k.
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €27k ▲143%
Operating result €38k, net result €27k, both a record.
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
03-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 3 days late
2019
31-12
Financial
Weakest financial yearnet €3k ▼74%
Net result drops to €3k, the lowest in the series; recovery starts the following year.
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
29-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Tielt · 1 establishment unit since 2015
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Ter Booye 328700 TieltGround area
7,551 m²
Building footprint
680 m²
Volume, LiDAR
657 m³
2 parcels, Flanders · tallest building 23.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
NICOVAN
since 20152.243.697.496
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37322B0743/00E000 | Flanders | 6,887 m² | 1 · 572 m² | 23.6 m |
| 37303I0137/00C000 | Flanders | 664 m² | 1 · 107 m² | 7.8 m · 2 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.
Recognitions · licences · registrations
Dual-learning approval
1 endedPlaatser interieurelementen (so)
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MORTIER SCHRIJNWERKERIJ
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Of 20,024 companies in sector 43320 we hold annual accounts for 9,135. 7,714 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 formPrivate limited company
Founded08-07-2015
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
43240Other construction installation
Sources
Crossroads Bank for EnterprisesNational Bank · 9 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.