Nine Engineering
ActiveFinancials · financial year 2026, abbreviated format
Annual accounts 2026 filed on 27-10-2026 at the NBB all 5 filings
Turnover
≈ €99,000
Estimated: probably between €74,000 and €140,000
Total assets
€4.3m▲ 77.1%
2025 · €2.4m
Net result
-€1.1m▼ 1,101%
2025 · -€89,996
Working capital
€1.8m▲ 217%
2025 · €577,551
Multi-year overview
2022 to 2026, 5 financial yearsOperating result
-€1.1m
▼ 1,963%
2026
20222026
Net result
-€1.1m
▼ 1,101%
2026
20222026
Equity
€3.0m
▲ 221%
2026
20222026
Total assets
€4.3m
▲ 77.1%
2026
20222026
Debt
€1.3m
▼ 14.1%
2026
20222026
Working capital
€1.8m
▲ 217%
2026
20222026
Solvency
70.4%
▲ 31.5pp
2026
20222026
Current ratio
4.21
▲ 2.08
2026
20222026
Return on assets (ROA)
-25.3%
▼ 21.6pp
2026
20222026
Staff (FTE)
9
▲ 36.4%
2026
20222026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20222023202420252026
Operating result€0.1m--€0.3m-€0.4m▼ 37.5%-€0.05m▲ 86.4%-€1.1m▼ 1,963%
Net result€0.1mabove the sector's middle half--€0.3mbelow the sector's middle half-€0.4mbelow the sector's middle half▼ 36.9%-€0.09mbelow the sector's middle half▲ 77.5%-€1.1m▼ 1,101%
Equity€0.1mwithin the sector's middle half-€0.3mabove the sector's middle half▲ 168%€1.0mabove the sector's middle half▲ 208%€0.9mabove the sector's middle half▼ 8.8%€3.0m▲ 221%
Total assets€0.5mabove the sector's middle half-€1.0mabove the sector's middle half▲ 106%€2.0mabove the sector's middle half▲ 89.0%€2.4mabove the sector's middle half▲ 22.8%€4.3m▲ 77.1%
Debt€0.4m-€0.7m▲ 85.3%€0.9m▲ 32.7%€1.5m▲ 57.4%€1.3m▼ 14.1%
Working capital€0.2mabove the sector's middle half-€0.2mabove the sector's middle half▼ 8.2%€0.6mabove the sector's middle half▲ 239%€0.6mabove the sector's middle half▼ 0.6%€1.8m▲ 217%
Solvency24.6%below the sector's middle half-32.0%below the sector's middle half▲ 7.5pp52.3%within the sector's middle half▲ 20.2pp38.9%within the sector's middle half▼ 13.4pp70.4%▲ 31.5pp
Current ratio5.43above the sector's middle half-2.04within the sector's middle half▼ 3.392.35within the sector's middle half▲ 0.312.12within the sector's middle half▼ 0.234.21▲ 2.08
Return on assets (ROA)22.6%within the sector's middle half--28.1%below the sector's middle half▼ 50.7pp-20.4%below the sector's middle half▲ 7.7pp-3.7%below the sector's middle half▲ 16.6pp-25.3%▼ 21.6pp
Staff (FTE)1-1=4.5within the sector's middle half▲ 350%6.6within the sector's middle half▲ 46.7%9▲ 36.4%
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 2026 is a loss of €1.1m, larger than the loss of €51,708 in 2025. It is the lowest result since 2022.
Large changes and their cause
- 2024 Equity +208%, Total assets +89% on 2023. Capital increase of €1,092,506 (Official Gazette 12-06-2023).
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €4.3m
Fixed assets
€1.9m ▲ 41.8%
Current assets
€2.4m ▲ 120%
Equity and liabilities €4.3m
Equity
€3.0m ▲ 221%
Debt
€1.3m ▼ 14.1%
Debt's share of the balance-sheet total falls from 61.1% to 29.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
-€703,460▼
2025 · €187,067
Cash flow
-€717,335▼
2025 · €148,779
Debt to equity
0.42▼
2025 · 1.57
ROE
-36.0%▼
2025 · -9.6%
Interest coverage
-20.70▼
2025 · 4.61
Debt ≤ 1 year
€570,328▲
2025 · €515,117
Debt > 1 year
€418,124▼
2025 · €659,408
Income taxes
€337▲
2025 · €296
Staff costs
€730,389▲
2025 · €416,195
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 2 | 9 | 6 | 12 |
| full-time | 1 | 2 | 8 | 4 | 11 |
| part-time | - | - | 1 | 2 | 1 |
| in full-time equivalents | 1 | 2 | 8.2 | 4.6 | 11.9 |
| Average over the year, in full-time equivalents | 1 | 1 | 4.5 | 6.6 | 9 |
| On a permanent contract | 1 | 2 | 8 | 4 | 12 |
| Joined | 1 | 2 | 10 | 4 | 12 |
| Left | 0 | 1 | 3 | 7 | 6 |
| Training hours | - | - | - | 48 | - |
Source: social balance sheet in the 2022 to 2026 annual accounts
Securities and guarantees
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Pledge on the business | €275,000 | - | - | - | - |
Source: notes to the 2022 to 2026 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,711 | €17,456 | €22,288 | €2,703 | €30,591 |
| Intangible fixed assets | €272,752 | €479,265 | €384,722 | €601,680 | €876,461 |
| Financial fixed assets | - | €7,878 | - | - | €6,416 |
| Depreciation and write-downs of the year | €685 | €79,204 | €158,420 | €238,775 | €363,137 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 13 entries · €438,637 awarded · €263,368 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 4 | €6,809 | €181,809 |
| 2024 | 3 | €356,216 | €9,188 |
| 2023 | 2 | €2,972 | €31,173 |
| 2022 | 4 | €72,640 | €41,198 |
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €0.03m | €0.05m | €0.2m | €0.4m | €0.7m | ▲ 75.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.001m | €0.08m | €0.2m | €0.2m | €0.4m | ▲ 52.1% |
| Other operating charges640/8 | - | €122 | €412 | €0.001m | €0.002m | ▲ 307% |
| Gross operating margin9900 | €0.2m | -€0.1m | €0.002m | €0.6m | €0.03m | ▼ 95.2% |
| Operating profit (loss)9901 | €0.1m | -€0.3m | -€0.4m | -€0.05m | -€1.1m | ▼ 1,963% |
| Financial income75/76B | €29 | €37 | €0.001m | €0.003m | €0.02m | ▲ 691% |
| Recurring financial income75 | €29 | €37 | €0.001m | €0.003m | €0.02m | ▲ 691% |
| Financial charges65/66B | €0.007m | €0.01m | €0.02m | €0.04m | €0.03m | ▼ 16.2% |
| Recurring financial charges65 | €0.007m | €0.01m | €0.02m | €0.04m | €0.03m | ▼ 16.2% |
| Profit (loss) for the period before taxes9903 | €0.1m | -€0.3m | -€0.4m | -€0.09m | -€1.1m | ▼ 1,104% |
| Income taxes67/77 | - | €77 | €315 | €296 | €337 | ▲ 13.5% |
| Profit (loss) for the period9904 | €0.1m | -€0.3m | -€0.4m | -€0.09m | -€1.1m | ▼ 1,101% |
| Profit (loss) for the period to be appropriated9905 | €0.1m | -€0.3m | -€0.4m | -€0.09m | -€1.1m | ▼ 1,101% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €0.5m | €1.0m | €2.0m | €2.4m | €4.3m | ▲ 77.1% |
| Fixed assets21/28 | €0.3m | €0.7m | €0.9m | €1.3m | €1.9m | ▲ 41.8% |
| Intangible fixed assets21 | €0.3m | €0.7m | €0.9m | €1.3m | €1.8m | ▲ 41.2% |
| Tangible fixed assets22/27 | €0.003m | €0.02m | €0.03m | €0.02m | €0.04m | ▲ 66.0% |
| Plant, machinery and equipment23 | €0.002m | €0.005m | €0.003m | €0.002m | €0.001m | ▼ 44.4% |
| Furniture and vehicles24 | €0.001m | €0.009m | €0.02m | €0.02m | €0.03m | ▲ 102% |
| Other tangible fixed assets26 | - | €0.003m | €0.006m | €0.004m | €0.003m | ▼ 33.7% |
| Financial fixed assets28 | - | €0.008m | €0.008m | €0.008m | €0.01m | ▲ 81.4% |
| Current assets29/58 | €0.2m | €0.3m | €1.0m | €1.1m | €2.4m | ▲ 120% |
| Amounts receivable within one year40/41 | €0.06m | €0.1m | €0.3m | €0.4m | €0.4m | ▲ 10.3% |
| Trade receivables40 | €0.05m | €0.08m | €0.3m | €0.4m | €0.4m | ▲ 6.9% |
| Other amounts receivable41 | €0.02m | €0.02m | €0.001m | €0.003m | €0.02m | ▲ 400% |
| Current investments50/53 | - | - | - | €0.006m | €0.006m | = |
| Cash at bank and in hand54/58 | €0.2m | €0.2m | €0.7m | €0.7m | €2.0m | ▲ 179% |
| Deferred charges and accrued income490/1 | €0.003m | €0.01m | €0.02m | €0.02m | €0.02m | ▲ 40.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €0.5m | €1.0m | €2.0m | €2.4m | €4.3m | ▲ 77.1% |
| Equity10/15 | €0.1m | €0.3m | €1.0m | €0.9m | €3.0m | ▲ 221% |
| Contributions10/11 | €0.01m | €0.5m | €1.6m | €1.6m | €4.7m | ▲ 196% |
| Reserves13 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Distributable reserves133 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Profit (loss) carried forward14 | - | -€0.3m | -€0.7m | -€0.8m | -€1.9m | ▼ 138% |
| Amounts payable17/49 | €0.4m | €0.7m | €0.9m | €1.5m | €1.3m | ▼ 14.1% |
| Amounts payable after more than one year17 | €0.3m | €0.5m | €0.3m | €0.7m | €0.4m | ▼ 36.6% |
| Financial debts170/4 | €0.3m | €0.4m | €0.3m | €0.6m | €0.3m | ▼ 41.2% |
| Other amounts payable178/9 | €0.06m | €0.06m | €0.07m | €0.07m | €0.07m | ▲ 3.5% |
| Amounts payable within one year42/48 | €0.04m | €0.2m | €0.4m | €0.5m | €0.6m | ▲ 10.7% |
| Current portion of amounts payable after more than one year42 | - | €0.07m | €0.1m | €0.2m | €0.2m | ▲ 39.5% |
| Financial debts43 | €0.001m | - | €21 | - | - | - |
| Credit institutions430/8 | €0.001m | - | €21 | - | - | - |
| Trade debts44 | €0.04m | €0.09m | €0.2m | €0.3m | €0.2m | ▼ 31.3% |
| Suppliers440/4 | €0.04m | €0.09m | €0.2m | €0.3m | €0.2m | ▼ 31.3% |
| Taxes, remuneration and social security45 | €0.005m | €0.006m | €0.09m | €0.04m | €0.1m | ▲ 182% |
| Taxes450/3 | - | €474 | €0.02m | €0.007m | - | - |
| Remuneration and social security454/9 | €0.005m | €0.006m | €0.06m | €0.04m | €0.1m | ▲ 233% |
| Other amounts payable47/48 | €92 | €92 | - | - | - | - |
| Accrued charges and deferred income492/3 | €0.03m | €0.05m | €0.2m | €0.3m | €0.3m | ▼ 7.4% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.1m | -€0.3m | -€0.4m | -€0.09m | -€1.1m | ▼ 1,101% |
| + Depreciation and write-downs630 | €0.001m | €0.08m | €0.2m | €0.2m | €0.4m | ▲ 52.1% |
| Operating cash flow (approximation) | €0.1m | -€0.2m | -€0.2m | €0.1m | -€0.7m | - |
| Investment in fixed assets (approximation) | - | -€0.5m | -€0.4m | -€0.6m | -€0.9m | ▼ 51.1% |
| Change in cash | - | €0.06m | €0.4m | €0.03m | €1.3m | ▲ 46× |
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, 3,591 companies had the same profile as Nine Engineering has now. Two years later, 87.4% were still going and 3.0% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
87.4%
was still going
9.4%
stopped otherwise
3.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Nine Engineering itself is lower: 0.3% within 12 months. It rests on far more data about Nine Engineering 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 3,591 companies, not a prediction for Nine Engineering. 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.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | abbreviated format | 27-10-2026 | 2026-00571871 | |
| 31-03-2025 | abbreviated format | 23-10-2025 | 2025-00549863 | |
| 31-03-2024 | abbreviated format | 22-10-2024 | 2024-00511104 | |
| 31-03-2023 | micro format | 24-10-2023 | 2023-00490843 | |
| 31-03-2022 | micro format | 24-11-2022 | 2022-20524510 |