NIRO
ActiveSummary
NIRO has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-2k) and a net result of €-48k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 2198 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-91
Solvency23▼-19
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 2.12 against 1.76 in 2024; short-term debt: 47% and cash: 7.6% of total assets), but equity is negative.
Credit check for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-2.4%
Return on assets
-65.1%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-2k
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 14-07-2026, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 d early
2024
22 d late
2023
34 d early
2022
33 d early
2021
31 d late
2020
31 d early
2019
24 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€-2k
2024 · €46k
2018: €140k
2019: €183k▲ +31.5% vs 2018
2020: €186k▲ +1.6% vs 2019highest in 8 years
2021: €66k▼ -64.6% vs 2020
2022: €16k▼ -75.6% vs 2021
2023: €-49k▼ -403% vs 2022lowest in 8 years
2024: €46k▲ +194% vs 2023
2025: €-2k▼ -104% vs 2024
2018 → 2025
Total assets
€73k▼ 73.3%
2024 · €274k
2018: €998khighest in 8 years
2019: €844k▼ -15.4% vs 2018
2020: €406k▼ -51.9% vs 2019
2021: €233k▼ -42.7% vs 2020
2022: €689k▲ +196% vs 2021
2023: €423k▼ -38.7% vs 2022
2024: €274k▼ -35.2% vs 2023
2025: €73k▼ -73.3% vs 2024lowest in 8 years
2018 → 2025
Net result
€-48k
2024 · €94k
2018: €-4k
2019: €44k▲ +1163% vs 2018
2020: €3k▼ -93.3% vs 2019
2021: €-120k▼ -4200% vs 2020lowest in 8 years
2022: €-50k▲ +58.7% vs 2021
2023: €-65k▼ -29.9% vs 2022
2024: €94k▲ +246% vs 2023highest in 8 years
2025: €-48k▼ -150% vs 2024
2018 → 2025
Working capital
€38k▼ 67.5%
2024 · €118k
2018: €262k
2019: €305k▲ +16.4% vs 2018highest in 8 years
2020: €276k▼ -9.8% vs 2019
2021: €140k▼ -49.1% vs 2020
2022: €81k▼ -42.2% vs 2021
2023: €1k▼ -98.3% vs 2022lowest in 8 years
2024: €118k▲ +8585% vs 2023
2025: €38k▼ -67.5% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€66k-€16k▼ 75.6%€-49k€46k€-2k
2021: €66khighest in 5 years
2022: €16k▼ -75.6% vs 2021
2023: €-49k▼ -403% vs 2022lowest in 5 years
2024: €46k▲ +194% vs 2023
2025: €-2k▼ -104% vs 2024
Operating result€-118k-€-42k▲ 64.9%€-40k▲ 3.7%€118k€-45k
2021: €-118klowest in 5 years
2022: €-42k▲ +64.9% vs 2021
2023: €-40k▲ +3.7% vs 2022
2024: €118k▲ +395% vs 2023highest in 5 years
2025: €-45k▼ -138% vs 2024
Net result€-120k-€-50k▲ 58.7%€-65k▼ 29.9%€94k€-48k
2021: €-120klowest in 5 years
2022: €-50k▲ +58.7% vs 2021
2023: €-65k▼ -29.9% vs 2022
2024: €94k▲ +246% vs 2023highest in 5 years
2025: €-48k▼ -150% vs 2024
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €45k after €118k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €73k
Fixed assets
€206 ▼ 50.4%
Current assets
€73k ▼ 73.4%
Key figures and ratios
EBITDA
€-45k▼
2024 · €119k
Cash flow
€-47k▼
2024 · €95k
Solvency
-2.4%▼
2024 · 16.7%
Current ratio
2.12▲
2024 · 1.76
Quick ratio
1.46▼
2024 · 1.76
Debt to equity
-42.73▼
2024 · 4.98
ROA
-65.1%▼
2024 · 34.5%
Interest coverage
-17.46▼
2024 · 4.98
Debt
€75k▼
2024 · €228k
Debt ≤ 1 year
€34k▼
2024 · €155k
Debt > 1 year
€40k▼
2024 · €73k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 54 lines
Balance sheet
Code20242025
Assets
Total assets20/58€274k€73k▼
Fixed assets21/28€416€206▼
Tangible fixed assets22/27€276€66▼
Plant, machinery and equipment23€276€66▼
Furniture and vehicles24€0€0=
Other tangible fixed assets26-€0
Financial fixed assets28€140€140=
Current assets29/58€273k€73k▼
Stocks and contracts in progress3€0€23k▲
Stocks30/36€0-
Contracts in progress37-€23k
Amounts receivable within one year40/41€6k€45k▲
Trade receivables40€6k€42k▲
Other amounts receivable41€0€2k▲
Cash at bank and in hand54/58€268k€6k▼
Deferred charges and accrued income490/1€86€0▼
Equity and liabilities
Total equity and liabilities10/49€274k€73k▼
Equity10/15€46k€-2k▼
Contributions10/11€63k€63k=
Capital10€63k€63k=
Issued capital100€63k€63k=
Reserves13€6k€6k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Profit (loss) carried forward14€-23k€-71k▼
Amounts payable17/49€228k€75k▼
Amounts payable after more than one year17€73k€40k▼
Financial debts170/4€0-
Other amounts payable178/9€73k€40k▼
Amounts payable within one year42/48€155k€34k▼
Current portion of amounts payable after more than one year42€0-
Financial debts43€0€5▲
Credit institutions430/8€0€5▲
Trade debts44€45k€33k▼
Suppliers440/4€45k€33k▼
Taxes, remuneration and social security45€110k€0▼
Taxes450/3€91k€0▼
Remuneration and social security454/9€18k€0▼
Other amounts payable47/48-€1k
Accrued charges and deferred income492/3€502€486▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€297€210▼
Other operating charges640/8€2k€1k▼
Non-recurring operating charges66A€525-
Gross operating margin9900€121k€-44k▼
Operating profit (loss)9901€118k€-45k▼
Financial income75/76B€43€171▲
Recurring financial income75€43€171▲
Financial charges65/66B€24k€3k▼
Recurring financial charges65€24k€3k▼
Profit (loss) for the period before taxes9903€94k€-48k▼
Profit (loss) for the period9904€94k€-48k▼
Profit (loss) for the period to be appropriated9905€94k€-48k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-23k€-71k▼
Profit (loss) brought forward from the previous period14P€-117k€-23k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €37 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12k | €7k | €848 | €297 | €210 | ▼ 29.4% |
| Other operating charges640/8 | €1k | €1k | €2k | €2k | €1k | ▼ 29.2% |
| Non-recurring operating charges66A | - | - | - | €525 | - | - |
| Gross operating margin9900 | €-106k | €-33k | €-37k | €121k | €-44k | ▼ 136% |
| Operating profit (loss)9901 | €-118k | €-42k | €-40k | €118k | €-45k | ▼ 138% |
| Financial income75/76B | €342 | €3k | €1k | €43 | €171 | ▲ 293% |
| Recurring financial income75 | €342 | €3k | €1k | €43 | €171 | ▲ 293% |
| Financial charges65/66B | €2k | €10k | €25k | €24k | €3k | ▼ 89.2% |
| Recurring financial charges65 | €2k | €10k | €25k | €24k | €3k | ▼ 89.2% |
| Profit (loss) for the period before taxes9903 | €-120k | €-49k | €-64k | €94k | €-48k | ▼ 150% |
| Income taxes67/77 | €495 | €502 | €519 | - | - | - |
| Profit (loss) for the period9904 | €-120k | €-50k | €-65k | €94k | €-48k | ▼ 150% |
| Profit (loss) for the period to be appropriated9905 | €-120k | €-50k | €-65k | €94k | €-48k | ▼ 150% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €233k | €689k | €423k | €274k | €73k | ▼ 73.3% |
| Fixed assets21/28 | €9k | €2k | €713 | €416 | €206 | ▼ 50.4% |
| Tangible fixed assets22/27 | €9k | €1k | €573 | €276 | €66 | ▼ 76.0% |
| Plant, machinery and equipment23 | €1k | €696 | €486 | €276 | €66 | ▼ 76.0% |
| Furniture and vehicles24 | €8k | €725 | €87 | €0 | €0 | - |
| Other tangible fixed assets26 | - | - | - | - | €0 | - |
| Financial fixed assets28 | €140 | €140 | €140 | €140 | €140 | = |
| Current assets29/58 | €224k | €688k | €422k | €273k | €73k | ▼ 73.4% |
| Stocks and contracts in progress3 | €76k | €581k | €172k | €0 | €23k | - |
| Stocks30/36 | €76k | €581k | €172k | €0 | - | - |
| Contracts in progress37 | - | - | - | - | €23k | - |
| Amounts receivable within one year40/41 | €50k | €98k | €243k | €6k | €45k | ▲ 711% |
| Trade receivables40 | €45k | €56k | €237k | €6k | €42k | ▲ 671% |
| Other amounts receivable41 | €6k | €43k | €7k | €0 | €2k | - |
| Cash at bank and in hand54/58 | €97k | €8k | €7k | €268k | €6k | ▼ 97.9% |
| Deferred charges and accrued income490/1 | - | - | - | €86 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €233k | €689k | €423k | €274k | €73k | ▼ 73.3% |
| Equity10/15 | €66k | €16k | €-49k | €46k | €-2k | ▼ 104% |
| Contributions10/11 | €63k | €63k | €63k | €63k | €63k | = |
| Capital10 | €63k | €63k | €63k | €63k | €63k | = |
| Issued capital100 | €63k | €63k | €63k | €63k | €63k | = |
| Reserves13 | €6k | €6k | €6k | €6k | €6k | = |
| Non-distributable reserves130/1 | €6k | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | €6k | €6k | €6k | €6k | €6k | = |
| Profit (loss) carried forward14 | €-3k | €-53k | €-117k | €-23k | €-71k | ▼ 207% |
| Amounts payable17/49 | €167k | €673k | €471k | €228k | €75k | ▼ 67.2% |
| Amounts payable after more than one year17 | €83k | €67k | €51k | €73k | €40k | ▼ 44.9% |
| Financial debts170/4 | €47k | €31k | €15k | €0 | - | - |
| Other amounts payable178/9 | €36k | €35k | €36k | €73k | €40k | ▼ 44.9% |
| Amounts payable within one year42/48 | €83k | €607k | €421k | €155k | €34k | ▼ 77.8% |
| Current portion of amounts payable after more than one year42 | €21k | €16k | €16k | €0 | - | - |
| Financial debts43 | - | €525k | €150k | €0 | €5 | - |
| Credit institutions430/8 | - | €525k | €150k | €0 | €5 | - |
| Trade debts44 | €55k | €63k | €158k | €45k | €33k | ▼ 27.0% |
| Suppliers440/4 | €55k | €63k | €158k | €45k | €33k | ▼ 27.0% |
| Taxes, remuneration and social security45 | €7k | €3k | €97k | €110k | €0 | ▼ 100% |
| Taxes450/3 | €3k | €502 | €86k | €91k | €0 | ▼ 100% |
| Remuneration and social security454/9 | €5k | €2k | €11k | €18k | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | - | €1k | - |
| Accrued charges and deferred income492/3 | - | - | - | €502 | €486 | ▼ 3.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-120k | €-50k | €-65k | €94k | €-48k | ▼ 150% |
| + Depreciation and write-downs630 | €12k | €7k | €848 | €297 | €210 | ▼ 29.4% |
| Operating cash flow (approximation) | €-109k | €-43k | €-64k | €95k | €-47k | ▼ 150% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €-89k | €-1k | €261k | €-262k | ▼ 201% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
22-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 22 days late
2024
31-12
Financial
Back to profitnet €94k
Net result €94k after 3 loss-making years.
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Weakest financial yearnet €-120k
Net result drops to €-120k, the lowest in the series; recovery starts the following year.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Liquidity doublescurrent ratio 3.44
Current ratio from 1.60 to 3.44; short-term debt falls from €510k to €113k.
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €44k
Net result €44k after one loss-making year.
31-12
Financial
Equity above €150kEq €183k ▲31.5%
Equity rises from €140k to €183k.
Show earlier events
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
25-04
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
8 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, Sprimont · 1 establishment unit since 1994
Ground area
621 m²
Building footprint
92 m²
Volume, LiDAR
708 m³
Parcel 62067B0841/00P002, Wallonia · tallest building 9.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
RESTAURANT ITALIA
since 19942.069.020.292
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62067B0841/00P002 | Wallonia | 621 m² | 1 · 92 m² | 9.9 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
ALPHI GROUP
BE 0846.223.050
Genk · Eq €45,793
MAXO
BE 0783.760.592
Ninove · Eq €45,781
ACS Construct
BE 0760.604.516
Brussel · Eq €45,803
JRD PROJECTS
BE 0778.919.007
Zedelgem · Eq €45,806
LN CONSTRUCT
BE 0792.385.575
Vilvoorde · Eq €45,813
Of 29,779 companies in sector 41001 we hold annual accounts for 16,044. 13,008 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded11-05-1994
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
Scores and ratios are computed by Checked and are not a credit decision.