NIKY
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 11-06-2026 PDF all 29 filings
Turnover
≈ €1.6m
Estimated: probably between €1.1m and €2.5m
Total assets
€1.9m▼ 0.8%
2024 · €2.0m
Net result
€50,704▼ 51.5%
2024 · €104,538
Working capital
€280,916▲ 13.5%
2024 · €247,583
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€122,096
▼ 33.9%
2025
20182025
Net result
€50,704
▼ 51.5%
2025
middle half of the sector
20182025
Equity
€646,186
▲ 8.5%
2025
highest quarter of the sector
20182025
Total assets
€1.9m
▼ 0.8%
2025
highest quarter of the sector
20182025
Debt
€1.3m
▼ 4.3%
2025
20182025
Working capital
€280,916
▲ 13.5%
2025
middle half of the sector
20182025
Solvency
33.2%
▲ 2.8pp
2025
middle half of the sector
20182025
Current ratio
1.92
▲ 0.10
2025
middle half of the sector
20182025
Return on assets (ROA)
2.6%
▼ 2.7pp
2025
middle half of the sector
20182025
Staff (FTE)
4.9
▲ 4.3%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.08m-€0.05m▼ 30.7%€0.09m▲ 77.6%€0.2m▲ 68.2%€0.1m▼ 37.8%€0.07m▼ 25.3%€0.2m▲ 152%€0.1m▼ 33.9%
Net result€0.06m-€0.04m▼ 37.0%€0.07mwithin the sector's middle half▲ 99.8%€0.1mabove the sector's middle half▲ 62.0%€0.08mwithin the sector's middle half▼ 35.7%€0.05mwithin the sector's middle half▼ 32.5%€0.1mwithin the sector's middle half▲ 104%€0.05mwithin the sector's middle half▼ 51.5%
Equity€0.1m-€0.2m▲ 26.9%€0.2mwithin the sector's middle half▲ 42.4%€0.4mwithin the sector's middle half▲ 48.2%€0.4mwithin the sector's middle half▲ 20.9%€0.5mwithin the sector's middle half▲ 11.7%€0.6mwithin the sector's middle half▲ 21.3%€0.6mabove the sector's middle half▲ 8.5%
Total assets€0.4m-€0.4m▲ 2.3%€0.5mwithin the sector's middle half▲ 29.1%€0.6mwithin the sector's middle half▲ 26.3%€0.7mwithin the sector's middle half▲ 17.8%€2.0mabove the sector's middle half▲ 176%€2.0mabove the sector's middle half▲ 0.6%€1.9mabove the sector's middle half▼ 0.8%
Debt€0.2m-€0.2m▼ 12.7%€0.2m▲ 17.4%€0.2m▲ 3.1%€0.3m▲ 13.0%€1.4m▲ 425%€1.4m▼ 3.4%€1.3m▼ 4.3%
Working capital€0.04m-€0.09m▲ 125%€0.2mwithin the sector's middle half▲ 124%€0.3mwithin the sector's middle half▲ 61.3%€0.4mwithin the sector's middle half▲ 21.5%€0.4mwithin the sector's middle half▼ 5.7%€0.2mwithin the sector's middle half▼ 31.7%€0.3mwithin the sector's middle half▲ 13.5%
Solvency37.7%-46.8%▲ 9.1pp51.6%within the sector's middle half▲ 4.8pp60.5%above the sector's middle half▲ 8.9pp62.1%above the sector's middle half▲ 1.6pp25.2%within the sector's middle half▼ 37.0pp30.3%within the sector's middle half▲ 5.2pp33.2%within the sector's middle half▲ 2.8pp
Current ratio1.17-1.48▲ 0.301.98within the sector's middle half▲ 0.512.75within the sector's middle half▲ 0.772.59within the sector's middle half▼ 0.163.86above the sector's middle half▲ 1.271.81within the sector's middle half▼ 2.051.92within the sector's middle half▲ 0.10
Return on assets (ROA)16.1%-9.9%▼ 6.2pp15.4%above the sector's middle half▲ 5.4pp19.7%above the sector's middle half▲ 4.3pp10.7%within the sector's middle half▼ 8.9pp2.6%within the sector's middle half▼ 8.1pp5.3%within the sector's middle half▲ 2.7pp2.6%within the sector's middle half▼ 2.7pp
Staff (FTE)4.1-3.3▼ 19.5%4.1within the sector's middle half▲ 24.2%3.6within the sector's middle half▼ 12.2%4.2within the sector's middle half▲ 16.7%4.3within the sector's middle half▲ 2.4%4.7within the sector's middle half▲ 9.3%4.9within the sector's middle half▲ 4.3%
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 34% lower than in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.9m
Fixed assets
€1.4m ▼ 3.6%
Current assets
€587,238 ▲ 6.4%
Equity and liabilities €1.9m
Equity
€646,186 ▲ 8.5%
Provisions
€0 ▼ 100%
Debt
€1.3m ▼ 4.3%
Debt's share of the balance-sheet total falls from 69.2% to 66.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€173,540▼
2024 · €236,107
Cash flow
€102,149▼
2024 · €155,899
Quick ratio
1.24▲
2024 · 1.09
Debt to equity
2.01▼
2024 · 2.28
ROE
7.8%▼
2024 · 17.6%
Interest coverage
3.42▼
2024 · 4.53
Debt ≤ 1 year
€306,322▲
2024 · €304,503
Debt > 1 year
€986,181▼
2024 · €1.1m
Income taxes
€23,028▼
2024 · €30,935
Staff costs
€186,440▲
2024 · €163,567
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 4 | 4 | 4 | 5 | 5 |
| full-time | 4 | 4 | 4 | 4 | 5 |
| part-time | - | - | - | 1 | - |
| in full-time equivalents | 4 | 4 | 4 | 4.8 | 5 |
| Average over the year, in full-time equivalents | 3.6 | 4.2 | 4.3 | 4.7 | 4.9 |
| On a permanent contract | 3 | 4 | 4 | 5 | 5 |
| Joined | 6 | 4 | 3 | 2 | - |
| Left | 5 | 4 | 3 | 1 | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | - | - | €1.2m | €1.1m | €1.1m |
| Mortgages, amount registered | - | - | - | €27,500 | €27,500 |
| Carrying value of the mortgaged assets | - | - | - | €1.4m | €1.3m |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €45,802 | €1,376 | €1.4m | - | €1,000 |
| Depreciation and write-downs of the year | €21,841 | €23,744 | €64,959 | €51,361 | €51,444 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 to 2025 · 2 entries · €4,000 awarded · €4,000 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €2,000 | €2,000 |
| 2023 | 1 | €2,000 | €2,000 |
Schemes
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €113,730 | €147,491 | €141,140 | €163,567 | €186,440 | ▲ 14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,358 | €16,149 | €16,149 | €21,841 | €23,744 | €64,959 | €51,361 | €51,444 | ▲ 0.2% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | - | €45,777 | -€45,460 | -€8,149 | ▲ 82.1% |
| Other operating charges640/8 | - | - | - | €1,525 | €1,344 | €1,649 | €57,682 | €16,730 | ▼ 71.0% |
| Gross operating margin9900 | €210,687 | €169,881 | €233,033 | €295,013 | €270,774 | €326,871 | €411,896 | €368,561 | ▼ 10.5% |
| Operating profit (loss)9901 | €76,261 | €52,871 | €93,888 | €157,918 | €98,195 | €73,346 | €184,745 | €122,096 | ▼ 33.9% |
| Financial income75/76B | - | - | - | €695 | €2,207 | €508 | €2,871 | €2,446 | ▼ 14.8% |
| Recurring financial income75 | €975 | €2 | €2,153 | €695 | €2,207 | €508 | €2,871 | €2,446 | ▼ 14.8% |
| Financial charges65/66B | - | - | - | €3,151 | €2,802 | €3,575 | €52,144 | €50,809 | ▼ 2.6% |
| Recurring financial charges65 | - | - | €3,033 | €1,906 | €2,802 | €3,575 | €52,144 | €50,809 | ▼ 2.6% |
| Non-recurring financial charges66B | - | - | - | €1,245 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €74,077 | €51,739 | €93,008 | €155,462 | €97,600 | €70,279 | €135,473 | €73,732 | ▼ 45.6% |
| Income taxes67/77 | €16,101 | €15,195 | €20,006 | €37,191 | €21,574 | €18,995 | €30,935 | €23,028 | ▼ 25.6% |
| Profit (loss) for the period9904 | €57,977 | €36,544 | €73,001 | €118,271 | €76,026 | €51,284 | €104,538 | €50,704 | ▼ 51.5% |
| Profit (loss) for the period to be appropriated9905 | €57,977 | €36,544 | €73,001 | €118,271 | €76,026 | €51,284 | €104,538 | €50,704 | ▼ 51.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.4m | €0.4m | €0.5m | €0.6m | €0.7m | €2.0m | €2.0m | €1.9m | ▼ 0.8% |
| Fixed assets21/28 | €0.1m | €0.1m | €0.08m | €0.1m | €0.08m | €1.5m | €1.4m | €1.4m | ▼ 3.6% |
| Intangible fixed assets21 | €0.07m | €0.06m | €0.05m | €0.04m | €0.03m | €0.02m | €0.01m | - | - |
| Tangible fixed assets22/27 | €0.03m | €0.04m | €0.03m | €0.06m | €0.05m | €1.4m | €1.4m | €1.4m | ▼ 2.9% |
| Land and buildings22 | - | - | - | - | - | €1.4m | €1.4m | €1.3m | ▼ 2.4% |
| Furniture and vehicles24 | - | - | - | €0.03m | €0.03m | €0.02m | €0.02m | €0.01m | ▼ 27.9% |
| Other tangible fixed assets26 | - | - | - | €0.03m | €0.02m | €0.02m | €0.01m | €0.01m | ▼ 25.9% |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €0.3m | €0.3m | €0.4m | €0.5m | €0.6m | €0.5m | €0.6m | €0.6m | ▲ 6.4% |
| Stocks and contracts in progress3 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 6.1% |
| Stocks30/36 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 6.1% |
| Amounts receivable within one year40/41 | - | - | - | - | - | €0.009m | - | €0.006m | - |
| Trade receivables40 | - | - | - | - | - | €0.009m | - | - | - |
| Other amounts receivable41 | - | - | - | - | - | - | - | €0.006m | - |
| Current investments50/53 | - | - | - | - | €0.1m | €0.1m | €0.2m | €0.3m | ▲ 25.0% |
| Cash at bank and in hand54/58 | €0.08m | €0.09m | €0.2m | €0.3m | €0.3m | €0.1m | €0.1m | €0.1m | ▼ 6.7% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €481 | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.4m | €0.4m | €0.5m | €0.6m | €0.7m | €2.0m | €2.0m | €1.9m | ▼ 0.8% |
| Equity10/15 | €0.1m | €0.2m | €0.2m | €0.4m | €0.4m | €0.5m | €0.6m | €0.6m | ▲ 8.5% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | - | - | - | - |
| Other1319 | - | - | - | - | - | €0.002m | - | - | - |
| Distributable reserves133 | - | - | - | - | - | - | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | €0.1m | €0.2m | €0.2m | €0.3m | €0.4m | €0.5m | €0.6m | €0.6m | ▲ 8.8% |
| Provisions and deferred taxes16 | - | - | - | - | - | €0.05m | €0.008m | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | - | €0.05m | €0.008m | - | - |
| Other liabilities and charges164/5 | - | - | - | - | - | €0.05m | €0.008m | - | - |
| Amounts payable17/49 | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | €1.4m | €1.4m | €1.3m | ▼ 4.3% |
| Amounts payable after more than one year17 | - | €0.01m | €0.01m | €0.03m | €0.03m | €1.1m | €1.1m | €1.0m | ▼ 6.3% |
| Financial debts170/4 | - | - | - | €0.03m | €0.03m | €1.1m | €1.1m | €1.0m | ▼ 6.3% |
| Amounts payable within one year42/48 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0.3m | €0.3m | ▲ 0.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.007m | €0.008m | €0.07m | €0.06m | €0.07m | ▲ 4.2% |
| Financial debts43 | - | - | - | - | - | - | €0.003m | €0.007m | ▲ 99.5% |
| Credit institutions430/8 | - | - | - | - | - | - | €0.003m | €0.007m | ▲ 99.5% |
| Trade debts44 | €0.2m | €0.1m | €0.2m | €0.1m | €0.2m | - | €0.2m | €0.2m | ▼ 5.1% |
| Suppliers440/4 | - | - | - | €0.1m | €0.2m | - | €0.2m | €0.2m | ▼ 5.1% |
| Taxes, remuneration and social security45 | - | - | - | €0.04m | €0.06m | €0.05m | €0.06m | €0.07m | ▲ 7.1% |
| Taxes450/3 | - | - | - | €0.02m | €0.03m | €0.02m | €0.03m | €0.02m | ▼ 2.1% |
| Remuneration and social security454/9 | - | - | - | €0.03m | €0.03m | €0.03m | €0.04m | €0.04m | ▲ 13.2% |
| Other amounts payable47/48 | - | - | - | €0.006m | €0.007m | €0.009m | €0.006m | €0.006m | ▼ 3.4% |
| Accrued charges and deferred income492/3 | - | - | - | €0.02m | - | €0.2m | €0.002m | €0.008m | ▲ 405% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.06m | €0.04m | €0.07m | €0.1m | €0.08m | €0.05m | €0.1m | €0.05m | ▼ 51.5% |
| + Depreciation and write-downs630 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.06m | €0.05m | €0.05m | ▲ 0.2% |
| Operating cash flow (approximation) | €0.07m | €0.05m | €0.09m | €0.1m | €0.1m | €0.1m | €0.2m | €0.1m | ▼ 34.5% |
| Investment in fixed assets (approximation) | - | -€0.02m | €0 | -€0.05m | -€0.001m | -€1.4m | €0 | -€0.001m | - |
| Change in cash | - | €0.02m | €0.1m | €0.1m | €0.02m | -€0.2m | €0.01m | -€0.009m | - |
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, 17,041 companies had the same profile as NIKY has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of NIKY itself: 0.2% within 12 months.
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 17,041 companies, not a prediction for NIKY. 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.
Latest 10 of 29 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 11-06-2026 | 2026-00161956 | |
| 31-12-2024 | abbreviated format | 14-07-2025 | 2025-00272216 | |
| 31-12-2023 | abbreviated format | 31-07-2024 | 2024-00324235 | |
| 31-12-2022 | abbreviated format | 28-08-2023 | 2023-00409454 | |
| 31-12-2021 | abbreviated format | 11-08-2022 | 2022-20290199 | |
| 31-12-2020 | abbreviated format | 07-07-2021 | 2021-32500439 | |
| 31-12-2019 | abbreviated format | 04-09-2020 | 2020-51000552 | |
| 31-12-2018 | abbreviated format | 17-07-2019 | 2019-34100325 | |
| 31-12-2017 | abbreviated format | 18-07-2018 | 2018-34300371 | |
| 31-12-2016 | abbreviated format | 26-07-2017 | 2017-36400573 |