NIGHTHAWK
ActiveSummary
NIGHTHAWK has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4,847 and a net result of €12,119. Equity has been growing by about 128% per year since 2023. Its solvency ranks better than 18% of 11,261 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 22-02-2023 Normal situation
- Registered office
- 44 active companies are registered at this address 1 started in the 12 months before. Source: KBO register, as of 3 November 2026.
- Activity
- Buying and selling of own real estate NACE 68110and 2 others
- Establishment unit
- 2.342.181.004 1050 Elsene, since 22-02-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 21-02-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.2%
- Gross margin
- €65,756
- ▲ 8.3%
- Turnover
- ≈ €170,000
- estimated
- Profit
- €12,119
- ▲ 87.7%
- Equity
- €4,847
- Total assets
- €715,390
- ▼ 2.0%
Score breakdownraises riskEquity €4,847 (0.7% of total assets)lowers riskSize: total assets €715,390Sector: Real estate activities (NACE 68)Figures for financial year 2025 (filed on 30-07-2026)Show the evidence
Checked score
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 68, micro). It does better than 20% of them on solvency, 60% on liquidity, 36% on profitability and 94% on growth.
The bankruptcy probability was computed on 03-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 3 accounts on average 16 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 30-07-2026 at the NBB all 3 filings
Every figure per financial year
The operating result for 2025 is 15% higher than in 2024 and the highest since 2023. It is the second rise in a row.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Securities and guarantees
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Debts secured on the company's own assets | - | €634,043 | - |
| Mortgages, amount registered | - | €335,000 | €335,000 |
| Mortgage mandates | - | €335,000 | €335,000 |
| Carrying value of the mortgaged assets | - | €720,890 | €701,101 |
Source: notes to the 2023 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €768,268 | - | - |
| Depreciation and write-downs of the year | €27,589 | €19,789 | €19,789 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €27,589 | €19,789 | €19,789 | = |
| Other operating charges640/8 | €6,662 | €8,850 | €9,157 | ▲ 3.5% |
| Gross operating margin9900 | €26,712 | €60,715 | €65,756 | ▲ 8.3% |
| Operating profit (loss)9901 | -€7,539 | €32,076 | €36,810 | ▲ 14.8% |
| Financial charges65/66B | €16,190 | €25,620 | €24,691 | ▼ 3.6% |
| Recurring financial charges65 | €16,190 | €25,620 | €24,691 | ▼ 3.6% |
| Profit (loss) for the period before taxes9903 | -€23,729 | €6,457 | €12,119 | ▲ 87.7% |
| Profit (loss) for the period9904 | -€23,729 | €6,457 | €12,119 | ▲ 87.7% |
| Profit (loss) for the period to be appropriated9905 | -€23,729 | €6,457 | €12,119 | ▲ 87.7% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €748,834 | €730,213 | €715,390 | ▼ 2.0% |
| Fixed assets21/28 | €740,678 | €720,890 | €701,101 | ▼ 2.7% |
| Tangible fixed assets22/27 | €740,678 | €720,890 | €701,101 | ▼ 2.7% |
| Land and buildings22 | €740,678 | €720,890 | €701,101 | ▼ 2.7% |
| Current assets29/58 | €8,156 | €9,323 | €14,289 | ▲ 53.3% |
| Cash at bank and in hand54/58 | €8,156 | €9,323 | €14,289 | ▲ 53.3% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €748,834 | €730,213 | €715,390 | ▼ 2.0% |
| Equity10/15 | -€13,729 | -€7,273 | €4,847 | - |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | = |
| Profit (loss) carried forward14 | -€23,729 | -€17,273 | -€5,153 | ▲ 70.2% |
| Amounts payable17/49 | €762,563 | €737,485 | €710,543 | ▼ 3.7% |
| Amounts payable after more than one year17 | €734,043 | €710,149 | €685,294 | ▼ 3.5% |
| Financial debts170/4 | €734,043 | €710,149 | €685,294 | ▼ 3.5% |
| Amounts payable within one year42/48 | €28,520 | €27,336 | €25,250 | ▼ 7.6% |
| Current portion of amounts payable after more than one year42 | €22,970 | €23,894 | €24,855 | ▲ 4.0% |
| Trade debts44 | €5,550 | €3,442 | €394 | ▼ 88.5% |
| Suppliers440/4 | €5,550 | €3,442 | €394 | ▼ 88.5% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€23,729 | €6,457 | €12,119 | ▲ 87.7% |
| + Depreciation and write-downs630 | €27,589 | €19,789 | €19,789 | = |
| Operating cash flow (approximation) | €3,860 | €26,245 | €31,908 | ▲ 21.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - |
| Change in cash | - | €1,167 | €4,966 | ▲ 325% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,514 companies had the same profile as NIGHTHAWK has now. Two years later, 95.7% were still going and 2.4% had gone bankrupt.
- Small
- 2 to 5 years old
- solvency under 10%
- a profit under 5% of the balance sheet
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of NIGHTHAWK itself is lower: 0.2% within 12 months. It rests on far more data about NIGHTHAWK than the profile alone.
Test of the method
The method was tested on the 497,446 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 1,514 companies, not a prediction for NIGHTHAWK. 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.
Board & ownership
Directors
Owners and capital
Shareholders
- DE RICK Willem 1,600 shares (16%)
- LORENZ Christophe 1,600 shares (16%)
- PIPPELART Annick Madeleine Huberte Denise 1,600 shares (16%)
- VAES Annelies Henriette 1,600 shares (16%)
- DEURINCK Arnout 1,600 shares (16%)
- GAILLARD Gilles Georges Félix 1,000 shares (10%)
- GAENS Kris Godfried Paul 1,000 shares (10%)
Capital transactions
- 24-02-2023 Incorporation · €10,000 · 10,000 shares
Articles of association
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Alle machten genoemd in artikel 2:87 van het Wetboek van vennootschappen en verenigingen zonder bijzondere machtiging, desgevallend één of…”
Articles of association, deed of 24-02-2023 (in Dutch)
Network & group
NIGHTHAWK shares no director with another company.
Companies at the same address
43 other companies- SEVENSIDES Registered office · since 2026 1038284733
- CO-HOMING Registered office · since 2025 1022904392
- ALGORILA Registered office · since 2022 0789429154
- S-MOBILE Registered office · since 2022 0679763825
- SONDR Registered office · since 2020 0755614063
- AGATA CALI Establishment · since 2020 0884284662
- SOCOMFIN Establishment · since 2020 0878503066
- SECURIMED Establishment · since 2019 0426724675
- international finance and leasing association Registered office · since 2018 0694739833
- FUNDAK EUROPE Registered office · since 2018 0694663025
Connections & network
1 current directorThe network starts from the directors of NIGHTHAWK. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
24-02
Gazette deed
IncorporationStarting capital €10,000 · Appointment: DE RICK Willem (director) · Founder14 points ▸
- Founder, DE RICK Willem
- Founder, LORENZ Christophe
- Founder, PIPPELART Annick Madeleine Huberte Denise
- Founder, VAES Annelies Henriette
- Founder, DEURINCK Arnout
- Founder, GAILLARD Gilles Georges Félix
- Founder, GAENS Kris Godfried Paul
- Incorporation, 21-02-2023
- Founding capital, €10,000
- Bank account, “voorafgaandelijke deponering inbrengen in geld, bijzondere rekening” (deed in Dutch)
- Director appointment, DE RICK Willem (director)
- Pre-incorporation commitments, “takeover, alle verbintenissen alsook alle daaruit voortvloeiende verplichtingen en alle handelingen gesteld door de oprichter in naam en voor rekening van de ve…” (deed in Dutch)
- The act holds 2 more points.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21807G0060/00Z002 | Brussels | 711 m² | 1 · 256 m² | 37.5 m · 10 |