NITRACO

Active

Public limited companyfounded 1993active for 33 yearsLammerdries-Oost 29, 2250 Olen, BelgiumKBO/BCE: BE 0450.334.376

Summary

NITRACO has been active since 1993 and the Belgian Official Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €1.9m and a net result of €252,450. Equity remains stable across the filed financial years (±0% per year). Its solvency ranks better than 15% of 42 sector peers (NACE 42, financial year 2026). The computed 12-month bankruptcy probability is 0.5% (very low).

Risk analysisFollow Report Compare

NITRACOActiveChecked score 81/100

Risk analysis Report Compare

Activity

Construction of utility projects for electricity and telecommunications

NACE 42220

Largest company by total assets in Olen, Construction sector1 site

Size

€3.5mturnover 2026

Equity: €1.9m
Profit: €252,450

Financial health

81 Excellent Checked score 2026

Bankruptcy probabilitywithin 12 months: 0.5%

Structure

Parent: Mitsubishi Chemical Holdings Corporation
Board: 4 members

Auditor: EY Bedrijfsrevisoren BV2026 accounts 75 days early4 of 22 deeds summarised

Why 81raises risk1 change of registered office in 24 monthsLiquidity: current ratio 0.44, cash €451,404Equity €1.9m (7.7% of total assets)lowers riskSize: turnover €3.5m, total assets €24.0mShow the evidence

Checked score

Score 2026

81 / 100

Excellent

Probability in this band: under 0.55%

Financially better than 44% of its sector peers (NACE 42, medium-sized)

Every signal that counts is listed under Signals.

Financial strength · tick = 2025

Average

Solvency 33+1

equity 7.7% of total assets

Liquidity 50-1

short-term debt 13.1% · cash 1.9%

Profitability 80=

return on assets 1.0%

Bankruptcy probability, 12 months

0.5% Very low

0%0.5%1.5%4%10%≥ 25%

About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (105 companies, NACE 42, medium-sized)

Last 24 months 11-2024: 0.2% 12-2024: 0.2%● unchanged vs 11-2024 01-2025: 0.2%● unchanged vs 12-2024 02-2025: 0.2%● unchanged vs 01-2025 03-2025: 0.2%● unchanged vs 02-2025 04-2025: 0.2%● unchanged vs 03-2025 05-2025: 0.2%● unchanged vs 04-2025lowest value 06-2025: 0.2%● unchanged vs 05-2025 07-2025: 0.2%● unchanged vs 06-2025 08-2025: 0.2%● unchanged vs 07-2025 09-2025: 0.5%▲ +0.3 percentage points vs 08-2025 10-2025: 0.5%● unchanged vs 09-2025 11-2025: 0.5%● unchanged vs 10-2025 12-2025: 0.5%● unchanged vs 11-2025 01-2026: 0.5%● unchanged vs 12-2025 02-2026: 0.5%● unchanged vs 01-2026 03-2026: 0.5%● unchanged vs 02-2026 04-2026: 0.5%● unchanged vs 03-2026 05-2026: 0.5%● unchanged vs 04-2026 06-2026: 0.5%● unchanged vs 05-2026 07-2026: 0.5%● unchanged vs 06-2026 08-2026: 0.7%▲ +0.2 percentage points vs 07-2026highest value 09-2026: 0.5%▼ -0.2 percentage points vs 08-2026 10-2026: 0.5%● unchanged vs 09-2026

Credit of up to €140,000 on 30-day terms is acceptable

Liquidity insufficient (current ratio 0.44, compared with 0.36 in 2025, below 1; short-term debt: 13.1% and cash: 1.9% of total assets), and 92.3% of the assets are financed with debt and provisions.

How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 42, medium-sized): better than 4% on solvency, 73% on liquidity, 71% on profitability and 28% on growth.

The bankruptcy probability was computed on 24-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Six signals.

lowers riskraises riskneutral

1 change of registered office in 24 months

Belgian Official Gazette

Size: turnover €3.5m, total assets €24.0m

Companies of this size fail less often; how much that weighs depends on the rest of its profile.

NBB · annual accounts

Liquidity: current ratio 0.44, cash €451,404

NBB · annual accounts

Equity €1.9m (7.7% of total assets)

NBB · annual accounts

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 42 sector peers (2026).

NBB · sector comparison

Position among 42 sector peers

Solvency

better than 15%

← weakest strongest →

Latest accounts filed on time

The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 17-08-2026, 75 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2026

75 days early

2025

81 days early

2024

80 days early

2023

64 days early

2022

34 days early

2021

68 days early

2020

57 days early

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 66 days before the deadline; the sector median (NACE 42) for financial year 2024 is 2 days before the deadline, and 41% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today. The company usually files around 17 August (4 of the last 5 filed years within 30 days of that day).

Companies Code · seven months

Where today falls in the filing period

25-10-2026 today31-03-2027 year end31-10-2027 deadline

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

17-08-2026 Annual accounts filedfinancial year 2026 · full…
01-06-2026 Reappointment: EY Bedrijfsrevisoren BV (statutory auditor)Permanent representative: Koen De Nijs
19-11-2025 Resignation: Hakim Boutkabout (director)Appointment: Rob Wattelé (director)

Key points

Positive: Largest company by total assets in Olen, Construction sectorin the Checked rankings No. 1 View
Positive: 6 years of growth in a rowturnover 2026: €3.5m 6 years View
Positive: Filed on time since financial year 2019accounts within the deadline every year 8 years View
Controlled by Mitsubishi Chemical Holdings Corporationknown shareholders 100% parent View

By topic

Financials

Financial year: 2026
Turnover: €3.5m
Profit: €252,450
Solvency: 7.7%

Turnover▲ 1.7%

Net result

20192026

Go to Financials

Board & ownership

Board: 4 members
Parent: Mitsubishi Chemical Holdings Corporation
Known shareholders: 100%
Auditor: EY Bedrijfsrevisoren BV

Johan DesmetDirector
Koen StevensDirector
Joren MaetensDirector
Rob WatteléDirector

Go to Board & ownership

Network & group

Group: Nippon Sanso Euroholding
Connected companies: 3

Go to Network & group

Timeline

Events: 37
Since: 1994
Next accounts: by 31-10-2027

11-08-2025Annual accounts filed
01-08-2025Resignations: Michel Leyseele (director) and Gert Van…
12-08-2024Annual accounts filed

Go to Timeline

Company details

Sites: 1

Legal form: Public limited company
Activity: Construction of utility projects for electricity and telecommunicationsNACE 42220
Founded: 14-06-1993
Year ends: 31-03
Peppol: Reachable for e-invoices

Go to Company details

Articles of association

Provisions read: 2

See the provisions in the deeds

Go to Articles of association

Key facts about NITRACO

What is the company number of NITRACO?: 0450.334.376. In Belgium the VAT number is the company number with BE in front: BE 0450.334.376.
Where is NITRACO based?: The registered office is at Lammerdries-Oost 29, 2250 Olen.Company details
What does NITRACO do?: According to the KBO register, the main activity is construction of utility projects for electricity and telecommunications (NACE 42220).
What is the legal form of NITRACO?: Public limited company (NV).
When was NITRACO founded?: On 14-06-1993.
Is NITRACO still active?: Yes, NITRACO is an active enterprise in the KBO register.
What is the turnover of NITRACO?: €3.5m in financial year 2026, according to the filed annual accounts.Financials
Is NITRACO profitable?: In financial year 2026, NITRACO made a profit of €252,450.
Where can I find the annual accounts of NITRACO?: NITRACO filed 33 annual accounts with the National Bank of Belgium, the latest for financial year 2026.
When are the next annual accounts of NITRACO due?: By 31-10-2027, for financial year 2027.Timeline