NINA GROUP

Active

Private limited companyfounded 20187 yrs activeRue Saint-Gangulphe 21, 4000 Liège, BelgiumKBO/BCE: BE 0716.822.080

The computed 12-month bankruptcy probability of NINA GROUP is 2.4% (moderate). The 2025 annual accounts show equity of €117k and a net result of €49k. Equity is growing by ~28.4% per year across the filed fiscal years. Its solvency ranks better than 93% of 10242 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2025

100 / 100

Excellent▲ +15 vs 2024

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability78▲+20

Solvency100=

Growth85=

Stability100

Bankruptcy probability, 12 months

2.4% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €12k at 30 days acceptable

Liquidity ample (current ratio 6.56 against 2.74 in 2024), and 13.9% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Eight signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

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

Sector 47

higher

← fewer bankruptcies more bankruptcies →

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

86.1%

Return on assets

35.7%

Age of the figures

9 mo

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Filed after the deadline

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 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 · 7 filings

Deviation from the deadline

2025

25 d late

2024

on the day

2023

1 d early

2022

6 d late

2021

7 d late

2020

27 d late

2019

27 d late

← before the deadline after the deadline →

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 months

Position in the running window

16-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, abbreviated schema

Turnover

€527k▲ 17.8%

2024 · €448k

2019: €152k 2020: €205k 2021: €282k 2022: €374k 2023: €365k 2024: €448k

2019 → 2025

EBIT margin

12.3%▲ 7.8pp

2024 · 4.5%

2019: 5.9% 2020: 4.9% 2021: 1.0% 2022: 3.6% 2023: 3.0% 2024: 4.5%

2019 → 2025

Net result

€49k▲ 358%

2024 · €11k

2019: €9k 2020: €10k 2021: €3k 2022: €13k 2023: €11k 2024: €11k

2019 → 2025

Working capital

€106k▲ 72.9%

2024 · €61k

2019: €21k 2020: €31k 2021: €26k 2022: €40k 2023: €51k 2024: €61k

2019 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Turnover€282k-€374k▲ 32.9%€365k▼ 2.5%€448k▲ 22.6%€527k▲ 17.8%

Equity€34k-€47k▲ 38.9%€58k▲ 22.8%€69k▲ 18.4%€117k▲ 71.1%

Operating result€3k-€13k▲ 355%€11k▼ 18.4%€20k▲ 85.2%€65k▲ 219%

Net result€3k-€13k▲ 378%€11k▼ 18.5%€11k▼ 1.3%€49k▲ 358%

Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.

Result per fiscal year

Operating resultNet result

After the dip in 2023 the operating result has climbed two years in a row; 2025 is 219% above 2024 and is the highest year so far.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €136k

91.4%

Fixed assets €12k▲ 55.8%

Current assets €125k▲ 29.5%

Equity and liabilities €136k

86.1%

13.9%

Equity €117k▲ 71.1%

Debt €19k▼ 46.0%

The debt ratio falls from 33.9% to 13.9%: equity grows while debt is paid down.

Key figures and ratios

2025 value · change against 2024

EBITDA

€65k

Cash flow

€49k

Solvency

86.1%▲

2024 · 66.1%

Current ratio

6.56▲

2024 · 2.74

Quick ratio

6.18▲

2024 · 2.50

Debt / equity

0.16▼

2024 · 0.51

ROE

41.5%▲

2024 · 15.5%

ROA

35.7%▲

2024 · 10.2%

Interest coverage

166.48

Debt

€19k▼

2024 · €35k

Debt ≤ 1 year

€19k▼

2024 · €35k

Income taxes

€16k▲

2024 · €9k

Staff costs

€37k▼

2024 · €73k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2025 against 2024

Balance sheet Code20242025

Assets

Total assets20/58€104k€136k▲

Fixed assets21/28€8k€12k▲

Tangible fixed assets22/27-€4k

Furniture and vehicles24-€4k

Financial fixed assets28€8k€8k=

Current assets29/58€96k€125k▲

Stocks and contracts in progress3€8k€7k▼

Stocks30/36€8k€7k▼

Amounts receivable within one year40/41€57€1k▲

Trade receivables40€57€57=

Other amounts receivable41€0€1k▲

Cash at bank and in hand54/58€84k€112k▲

Deferred charges and accrued income490/1€4k€4k=

Equity and liabilities

Total equity and liabilities10/49€104k€136k▲

Equity10/15€69k€117k▲

Contributions10/11€12k€12k=

Capital10€12k€12k=

Issued capital100€19k€19k=

Uncalled capital101€6k€6k=

Reserves13€446€446=

Non-distributable reserves130/1€446€446=

Legal reserve130€446€446=

Profit (loss) carried forward14€56k€105k▲

Amounts payable17/49€35k€19k▼

Amounts payable within one year42/48€35k€19k▼

Current portion of amounts payable after more than one year42€0€0=

Trade debts44€18k€10k▼

Suppliers440/4€18k€10k▼

Taxes, remuneration and social security45€18k€9k▼

Taxes450/3€2k€7k▲

Remuneration and social security454/9€16k€2k▼

Income statement Code20242025

Turnover70€448k€527k▲

Goods, raw materials, services and sundry goods60/61€354k€425k▲

Remuneration, social security and pensions62€73k€37k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€355

Other operating charges640/8€710€233▼

Gross operating margin9900€94k€103k▲

Operating profit (loss)9901€20k€65k▲

Financial charges65/66B€254€391▲

Recurring financial charges65€254€391▲

Profit (loss) for the period before taxes9903€20k€64k▲

Income taxes67/77€9k€16k▲

Profit (loss) for the period9904€11k€49k▲

Profit (loss) for the period to be appropriated9905€11k€49k▲

Appropriation of the result

Profit (loss) to be appropriated9906€56k€105k▲

Profit (loss) brought forward from the previous period14P€45k€56k▲

The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 11Financial 4Filings 7

Next filing, fiscal year 2026, expected by 31-07-2027

2026

25-08

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema · 25 days late

2025

31-12

Financial Highest result since 2019net €49k ▲358%

Operating result €65k, net result €49k, both a record.

31-12

Financial Liquidity doublescurrent ratio 6.56

Current ratio from 2.74 to 6.56; short-term debt falls from €35k to €19k.

31-12

Financial Equity above €100kEq €117k ▲71.1%

7 profitable years in a row build equity to €117k.

31-07

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

30-07

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

06-08

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 6 days late

2022

07-08

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 7 days late

2021

31-12

Financial Weakest financial yearnet €3k ▼72%

Net result drops to €3k, the lowest in the series; recovery starts the following year.

27-08

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 27 days late

2020

27-08

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 27 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

6 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, Liège · 3 establishment units since 2019

establishment All 3 establishment units on the map

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.

Rue Saint-Gangulphe 214000 Liège

Ground area

467 m²

Building footprint

239 m²

Volume, LiDAR

3,565 m³

3 parcels, Wallonia · tallest building 18.6 m, ±6 floors. Linked by address, not a title deed.

3 establishment units

ICON STORE

Rue Saint-Gangulphe 21, 4000 LiègeWholesale trade

since 20192.284.027.722

ICON STORE

Rue Grétry 83, 4020 LiègeWholesale trade

since 20212.325.662.003

DUBAÏ STORE

Rue Grétry 73, 4020 LiègeWholesale trade

since 20242.357.544.022

3 parcels

Wallonia 3 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
62817B0730/00D002	Wallonia	204 m²	1 · 72 m²	16.6 m · 5 fl.
62817B0729/00Z000	Wallonia	180 m²	1 · 98 m²	18.6 m · 6 fl.
62063A0158/00F000	Wallonia	82 m²	1 · 69 m²	16.2 m · 5 fl.