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Nitro Software Belgium

Active
Public limited companyfounded 199926 years activeWapenstraat 14, 2000 Antwerpen, BelgiumKBO/BCE: BE 0467.046.486
Summary

Nitro Software Belgium has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10.6m and a net result of €3.2m. Equity is growing by ~28.1% per year across the filed fiscal years. Its solvency ranks better than 58% of 1,671 sector peers (NACE 62, fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Overview

Activity
Computer programming
NACE 62100Computer consultancy and computer facilities management NACE 62200
#8 company by equity in Antwerp, Telecoms and IT sector1 site
Size
€22.5mtotal assets 2025
Staff
24.1 FTE
Equity
€10.6m
Profit
€3.2m
Financial health
90 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.2%
Structure
Parent
Nitro Software Limited
Holdings
1
Auditor: Finvision Bedrijfsrevisoren Antwerpen BVAccounts filed 31 days late41 of 42 deeds read
Why 90- Liquidity: current ratio 2.70, cash €436,508- Latest accounts 31 days late; 3 of the last 3 late+ Profit of €3.2m (FY 2025)+ Size: 24.1 FTE, total assets €22.5mShow the evidence

Checked score

Score 2025
90 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 64% of its sector peers (NACE 62, small)
Financial strength · tick = 2024
Strong
Solvency 72+3
equity 46.9% of total assets
Liquidity 39-1
short-term debt 31.8% · cash 1.9%
Profitability 87-11
return on assets 14.2%
Bankruptcy probability, 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%

About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (1,157 companies)
Last 24 months 11-2024: 0.7% 12-2024: 0.7%● unchanged vs 11-2024 01-2025: 0.7%● unchanged vs 12-2024 02-2025: 0.7%● unchanged vs 01-2025 03-2025: 0.7%● unchanged vs 02-2025 04-2025: 0.7%● unchanged vs 03-2025 05-2025: 0.7%● unchanged vs 04-2025 06-2025: 0.7%● unchanged vs 05-2025 07-2025: 0.8%▲ +0.1 percentage points vs 06-2025 08-2025: 1.0%▲ +0.2 percentage points vs 07-2025 09-2025: 1.1%▲ +0.1 percentage points vs 08-2025 10-2025: 1.5%▲ +0.4 percentage points vs 09-2025 11-2025: 1.5%● unchanged vs 10-2025 12-2025: 1.8%▲ +0.3 percentage points vs 11-2025 01-2026: 2.8%▲ +1.0 percentage point vs 12-2025highest value 02-2026: 2.8%● unchanged vs 01-2026highest value 03-2026: 0.6%▼ -2.2 percentage points vs 02-2026 04-2026: 0.6%● unchanged vs 03-2026 05-2026: 0.6%● unchanged vs 04-2026 06-2026: 0.6%● unchanged vs 05-2026 07-2026: 0.6%● unchanged vs 06-2026 08-2026: 0.9%▲ +0.3 percentage points vs 07-2026 09-2026: 0.2%▼ -0.7 percentage points vs 08-2026lowest value 10-2026: 0.2%● unchanged vs 09-2026lowest value
Credit up to €950,000 at 30 days acceptable
Liquidity ample (current ratio 2.7 against 2.2 in 2024; short-term debt: 31.8% and cash: 1.9% of total assets), but 53.1% of the assets are financed with debt.
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 62, small): better than 58% on solvency, 37% on liquidity, 81% on profitability and 80% on growth.

The bankruptcy probability was computed on 07-10-2026 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

Five signals.
−lowers risk+raises risk○neutral
raises risk · Liquidity: current ratio 2.70, cash €436,508
NBB · annual accounts
raises risk · Latest accounts 31 days late; 3 of the last 3 late
NBB · filings
lowers risk · Profit of €3.2m (FY 2025)
NBB · annual accounts
lowers risk · Size: 24.1 FTE, total assets €22.5m
The company's size counts in the probability; how much depends on the rest of its profile.
NBB · annual accounts
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 10 filings
Deviation from the deadline
2025
31 days late
2024
211 days late
2023
72 days late
2022
5 days early
2021
40 days early
2020
52 days early
2019
36 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 26 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 33% of the sector filed late.

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. Usually files around 31 August (4 of the last 5 filed years within 71 days of that day).
Companies Code · seven months
Position in the running window
07-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Checked from 2021 on.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · full…
  2. Annual accounts filedfiscal year 2024 · abbreviated…
  3. Equity above €10mEq €10.6m ▲43.5%

Key points

  • Positive: Among the best 5% on net resultsector median €36,848 · 1,672 companies €3.2m View
  • Controlled by Nitro Software Limiteditself parent of 1 companies parent View
  • Positive: Equity rose in 2025from €7.4m to €10.6m ▲ 43.5% View

By topic

Financials

Fiscal year
2025
Total assets
€22.5m
Profit
€3.2m
Solvency
46.9%
Total assets▲ 33.5%
Net result
20182025
Go to Financials

Board & ownership

Board
3 members
Parent
Nitro Software Limited
Auditor
Finvision Bedrijfsrevisoren Antwerpen BV
  • Yana KiziryanDirector
  • Cormac WhelanDaily manager
  • David AndreassonDaily manager
Go to Board & ownership

Timeline

Events
56
Since
2005
Next accounts
by 31-07-2027
  1. 03-11-2025Resignations & appointments
  2. 31-12-2024Back to profit
  3. 31-12-2024Equity above €5m
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Computer programmingNACE 62100
Founded
12-10-1999
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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