NINAPA
ActiveNINAPA has been active since 1981 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.11M and a net result of €16k. Equity remains stable across the filed fiscal years (±1.3% per year). Its solvency ranks better than 31% of 4123 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
61
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability41▼-8
Solvency46▲+2
Growth35=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €65k at 30 days acceptable
Liquidity ample (current ratio 1.61 against 2.14 in 2024; short-term debt: 9.6% and cash: 2.3% of total assets), but 79.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
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
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
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
20.7%
Return on assets
0.3%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €1.11M
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-07-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 d early
2024
27 d early
2023
28 d early
2022
22 d late
2021
60 d late
2020
90 d late
2019
54 d late
← before the deadline
after the deadline →
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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€404k▼ 63.3%
2022 · €1.10M
2018: €14.61M
2019: €12.70M
2020: €10.12M
2021: €10.56M
2022: €1.10M
2018 → 2023
EBIT margin
58.0%▲ 42.9pp
2022 · 15.0%
2018: 18.0%
2019: 0.8%
2020: 1.5%
2021: -3.8%
2022: 15.0%
2018 → 2023
Net result
€16k▼ 84.2%
2024 · €99k
2018: €1.85M
2019: €32k
2020: €112k
2021: €-458k
2022: €133k
2023: €160k
2024: €99k
2018 → 2025
Working capital
€313k▼ 44.7%
2024 · €566k
2018: €3.02M
2019: €3.12M
2020: €2.27M
2021: €1.48M
2022: €883k
2023: €822k
2024: €566k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€10.56M-€1.10M▼ 89.6%€404k▼ 63.3%
Equity€707k-€840k▲ 18.8%€1,000k▲ 19.1%€1.10M▲ 9.9%€1.11M▲ 1.4%
Operating result€-401k-€166k€234k▲ 41.4%€154k▼ 34.3%€55k▼ 64.5%
Net result€-458k-€133k€160k▲ 20.6%€99k▼ 38.0%€16k▼ 84.2%
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 64% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.38M
Fixed assets
€4.56M▼ 3.5%
Current assets
€829k▼ 22.0%
Equity and liabilities €5.38M
Equity
€1.11M▲ 1.4%
Provisions
€569k▼ 11.6%
Debt
€3.70M▼ 8.4%
The debt ratio falls from 69.9% to 68.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€220k▼
2024 · €320k
Cash flow
€181k▼
2024 · €265k
Solvency
20.7%▲
2024 · 19.0%
Current ratio
1.61▼
2024 · 2.14
Quick ratio
1.56▼
2024 · 2.08
Debt / equity
3.32▼
2024 · 3.68
ROE
1.4%▼
2024 · 9.0%
ROA
0.3%▼
2024 · 1.7%
Interest coverage
2.67▼
2024 · 3.42
Debt
€3.70M▼
2024 · €4.04M
Debt ≤ 1 year
€516k▲
2024 · €497k
Debt > 1 year
€3.18M▼
2024 · €3.54M
Income taxes
€314▼
2024 · €324
Staff costs
€162k▲
2024 · €157k
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€5.78M€5.38M▼
Fixed assets21/28€4.72M€4.56M▼
Tangible fixed assets22/27€4.72M€4.56M▼
Land and buildings22€4.67M€4.51M▼
Plant, machinery and equipment23€48k€42k▼
Current assets29/58€1.06M€829k▼
Stocks and contracts in progress3€31k€25k▼
Stocks30/36€31k€25k▼
Amounts receivable within one year40/41€721k€628k▼
Trade receivables40€396k€396k▲
Other amounts receivable41€326k€232k▼
Cash at bank and in hand54/58€283k€123k▼
Deferred charges and accrued income490/1€27k€53k▲
Equity and liabilities
Total equity and liabilities10/49€5.78M€5.38M▼
Equity10/15€1.10M€1.11M▲
Contributions10/11€112k€112k=
Capital10€112k€112k=
Issued capital100€112k€112k=
Reserves13€2.51M€2.43M▼
Non-distributable reserves130/1€11k€11k=
Legal reserve130€11k€11k=
Tax-exempt reserves132€1.79M€1.71M▼
Distributable reserves133€715k€715k=
Profit (loss) carried forward14€-1.53M€-1.43M▲
Provisions and deferred taxes16€643k€569k▼
Provisions for liabilities and charges160/5€47k€0▼
Pensions and similar obligations160€47k€0▼
Deferred taxes168€596k€569k▼
Amounts payable17/49€4.04M€3.70M▼
Amounts payable after more than one year17€3.54M€3.18M▼
Financial debts170/4€3.54M€3.18M▼
Amounts payable within one year42/48€497k€516k▲
Current portion of amounts payable after more than one year42€420k€263k▼
Financial debts43€0€97k▲
Credit institutions430/8€0€97k▲
Trade debts44€54k€136k▲
Suppliers440/4€54k€136k▲
Taxes, remuneration and social security45€23k€21k▼
Taxes450/3€5k€2k▼
Remuneration and social security454/9€18k€18k▲
Income statement
Code20242025
Remuneration, social security and pensions62€157k€162k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€166k€166k=
Other operating charges640/8€40k€57k▲
Gross operating margin9900€516k€440k▼
Operating profit (loss)9901€154k€55k▼
Financial income75/76B€12k€17k▲
Recurring financial income75€12k€17k▲
Financial charges65/66B€93k€82k▼
Recurring financial charges65€93k€82k▼
Profit (loss) for the period before taxes9903€72k€-11k▼
Transfer from deferred taxes780€27k€27k▼
Income taxes67/77€324€314▼
Profit (loss) for the period9904€99k€16k▼
Transfer from tax-exempt reserves789€82k€82k▼
Profit (loss) for the period to be appropriated9905€181k€97k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-1.53M€-1.43M▲
Profit (loss) brought forward from the previous period14P€-1.71M€-1.53M▲
Social balance
Average headcount (FTE)90872.42.0▼
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Equity above €1MEq €1.10M ▲9.9%
3 profitable years in a row build equity to €1.10M.
03-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
22-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 22 days late
2022
31-12
Financial
Back to profitnet €133k
Net result €133k after one loss-making year.
29-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 60 days late
2021
31-12
Financial
Weakest financial yearnet €-458k ▼507%
Net result drops to €-458k, the lowest in the series; recovery starts the following year.
29-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 90 days late
2020
23-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 54 days late
2019
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 28 days late
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 22 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
11 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, Wavre · 1 establishment unit since 1981
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 d'Angoussart 401301 WavreGround area
1.0 ha
Building footprint
3,311 m²
Volume, LiDAR
21,569 m³
2 parcels, Flanders, Wallonia · tallest building 10.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Brusselsesteenweg 3, 3020 Herent
since 19812.018.736.284
2 parcels
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25006B0222/00C000 | Wallonia | 5,260 m² | 1 · 269 m² | 8.6 m · 2 fl. |
| 24127E0024/00E004 | Flanders | 4,911 m² | 1 · 3,042 m² | 10.7 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
2 live approvals · 3 endedAutotechnieken duaal (so)
Polyvalent mecanicien personenwagens en lichte bedrijfsvoertuigen duaal (so)
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BOLLAND FILS
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STEMAR UTILITIES
BE 0524.905.503
Linkebeek · Eq €1.11M
TOYOTA DIEST
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Diest · Eq €1.11M
DONNAY
BE 0477.041.545
Visé · Eq €1.12M
Of 10,679 companies in sector 47811 we hold annual accounts for 5,225. 2,870 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded10-04-1981
Fiscal year end31-12
Activities, NACEBEL
47811Retail sale of cars and light vans (up to 3.5 tonnes)
50103
Sources
Crossroads Bank for EnterprisesNational Bank · 46 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.