NIVOLO

Active

Private limited companyfounded 200817 yrs activeMeirestraat(KRU) 9, 9770 Kruisem, BelgiumKBO/BCE: BE 0807.790.561

NIVOLO has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.04M and a net result of €156k. Equity is growing by ~2.7% per year across the filed fiscal years. Its solvency ranks better than 12% of 2025 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).

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Checked score

Score 2025

70 / 100

Healthy▲ +8 vs 2024

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability43▼-14

Solvency27▲+6

Growth59▲+13

Stability100

Bankruptcy probability, 12 months

0.6% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €75k at 30 days acceptable

Liquidity tight (current ratio 1.38 against 1.06 in 2024), and 89.1% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

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

Sector 41

higher

← fewer bankruptcies more bankruptcies →

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

10.9%

Return on assets

1.6%

Age of the figures

8 mo

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 12% of 2025 sector peers (2025).

NBB · sector comparison

Position among 2025 sector peers

Solvency

better than 12%

← weakest strongest →

Filed after the deadline

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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

28 d late

2024

29 d late

2023

8 d early

2022

25 d late

2021

26 d late

2020

8 d early

2019

31 d late

← before the deadline after the deadline →

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 months

Position in the running window

12-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, full schema

Turnover

€18.84M▲ 12.5%

2024 · €16.75M

2021: €12.08M 2022: €13.16M 2023: €15.02M 2024: €16.75M

2021 → 2025

EBIT margin

2.1%▼ 1.5pp

2024 · 3.6%

2021: 10.5% 2022: 7.3% 2023: 5.1% 2024: 3.6%

2021 → 2025

Net result

€156k▼ 62.4%

2024 · €415k

2018: €761k 2019: €587k 2020: €871k 2021: €1.12M 2022: €821k 2023: €494k 2024: €415k

2018 → 2025

Working capital

€1.53M▲ 482%

2024 · €262k

2018: €1.44M 2019: €1.02M 2020: €1.31M 2021: €1.00M 2022: €1.09M 2023: €734k 2024: €262k

2018 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Turnover€12.08M-€13.16M▲ 8.9%€15.02M▲ 14.2%€16.75M▲ 11.5%€18.84M▲ 12.5%

Equity€956k-€1.18M▲ 23.1%€1.42M▲ 20.7%€886k▼ 37.6%€1.04M▲ 17.6%

Operating result€1.27M-€966k▼ 23.8%€764k▼ 20.9%€596k▼ 21.9%€396k▼ 33.6%

Net result€1.12M-€821k▼ 26.5%€494k▼ 39.8%€415k▼ 15.9%€156k▼ 62.4%

Result per fiscal year

Operating resultNet result

The operating result has fallen four years in a row; 2025 is 34% below 2024 and is the lowest year so far.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €9.54M

41.9%

58.1%

Fixed assets €4.00M▲ 64.8%

Current assets €5.54M▲ 26.3%

Equity and liabilities €9.54M

11%

89.1%

Equity €1.04M▲ 17.6%

Debt €8.50M▲ 43.4%

The debt ratio rises from 87.0% to 89.1%: debt grows faster than equity.

Key figures and ratios

2025 value · change against 2024

EBITDA

€991k▼

2024 · €1.11M

Cash flow

€751k▼

2024 · €930k

Solvency

10.9%▼

2024 · 13.0%

Current ratio

1.38▲

2024 · 1.06

Quick ratio

1.32▲

2024 · 0.97

Debt / equity

8.16▲

2024 · 6.69

ROE

15.0%▼

2024 · 46.9%

ROA

1.6%▼

2024 · 6.1%

Interest coverage

7.71▼

2024 · 7.77

Debt

€8.50M▲

2024 · €5.93M

Debt ≤ 1 year

€4.01M▼

2024 · €4.12M

Debt > 1 year

€4.04M▲

2024 · €1.81M

Income taxes

€80k▲

2024 · €42k

Staff costs

€2.13M▼

2024 · €2.20M

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€6.81M€9.54M▲

Fixed assets21/28€2.43M€4.00M▲

Intangible fixed assets21€185k€442k▲

Tangible fixed assets22/27€2.22M€3.54M▲

Land and buildings22€1.05M€1.05M▲

Plant, machinery and equipment23€163k€224k▲

Furniture and vehicles24€930k€1.74M▲

Leasing and similar rights25€71k€488k▲

Other tangible fixed assets26€12k€35k▲

Financial fixed assets28€20k€20k=

Other financial fixed assets284/8€20k€20k=

Shares284€2k€2k=

Amounts receivable and cash guarantees285/8€18k€18k=

Current assets29/58€4.38M€5.54M▲

Stocks and contracts in progress3€395k€247k▼

Stocks30/36€395k€247k▼

Goods purchased for resale34€395k€247k▼

Amounts receivable within one year40/41€3.78M€4.03M▲

Trade receivables40€2.58M€2.60M▲

Other amounts receivable41€1.20M€1.43M▲

Current investments50/53€12k€3k▼

Other investments51/53€12k€3k▼

Cash at bank and in hand54/58€154k€607k▲

Deferred charges and accrued income490/1€43k€653k▲

Equity and liabilities

Total equity and liabilities10/49€6.81M€9.54M▲

Equity10/15€886k€1.04M▲

Contributions10/11€39k€39k=

Reserves13€847k€1.00M▲

Tax-exempt reserves132€0-

Distributable reserves133€847k€1.00M▲

Amounts payable17/49€5.93M€8.50M▲

Amounts payable after more than one year17€1.81M€4.04M▲

Financial debts170/4€1.41M€2.24M▲

Leasing and similar obligations172€53k€359k▲

Credit institutions173€1.35M€1.88M▲

Other amounts payable178/9€400k€1.80M▲

Amounts payable within one year42/48€4.12M€4.01M▼

Current portion of amounts payable after more than one year42€435k€782k▲

Financial debts43€1.18M€34k▼

Credit institutions430/8€1.15M€0▼

Other loans439€25k€34k▲

Trade debts44€1.71M€2.78M▲

Suppliers440/4€1.71M€2.78M▲

Taxes, remuneration and social security45€206k€156k▼

Taxes450/3€32k€17k▼

Remuneration and social security454/9€174k€139k▼

Other amounts payable47/48€600k€260k▼

Accrued charges and deferred income492/3€0€443k▲

Income statement Code20242025

Operating income70/76A€16.96M€18.94M▲

Turnover70€16.75M€18.84M▲

Other operating income74€200k€79k▼

Non-recurring operating income76A€4k€17k▲

Operating charges60/66A€16.36M€18.54M▲

Goods for resale, raw materials and consumables60€9.64M€11.35M▲

Purchases600/8€9.90M€11.20M▲

Change in stocks: decrease (increase)609€-262k€148k▲

Services and other goods61€3.69M€4.29M▲

Remuneration, social security and pensions62€2.20M€2.13M▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€515k€595k▲

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€269k€81k▼

Other operating charges640/8€31k€51k▲

Non-recurring operating charges66A€19k€49k▲

Operating profit (loss)9901€596k€396k▼

Financial income75/76B€57k€49k▼

Recurring financial income75€57k€49k▼

Income from current assets751€35k€43k▲

Other financial income752/9€22k€5k▼

Financial charges65/66B€197k€209k▲

Recurring financial charges65€197k€209k▲

Debt charges650€143k€129k▼

Other financial charges652/9€54k€81k▲

Profit (loss) for the period before taxes9903€457k€236k▼

Income taxes67/77€42k€80k▲

Taxes670/3€42k€80k▲

Profit (loss) for the period9904€415k€156k▼

Transfer from tax-exempt reserves789€180k€0▼

Profit (loss) for the period to be appropriated9905€595k€156k▼

Appropriation of the result

Profit (loss) to be appropriated9906€595k€156k▼

Transfer from equity791/2€550k€0▼

From reserves792€550k€0▼

Transfer to equity691/2€195k€156k▼

To other reserves6921€195k€156k▼

Profit to be distributed694/7€950k€0▼

Return on contributions (dividend)694€550k€0▼

Directors or managers695€400k€0▼

Social balance

Average headcount (FTE)908735.532.4▼

The notes to these accounts (94 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 16Financial 5Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

03-09

State Gazette act Resignations & appointments · Miscellaneous

General meeting · Auditor appointment2 facts ▸

General meeting, 2024-06-24
Auditor appointment, VRC Bedrijfsrevisoren BV

28-08

NBB filing Annual accounts filed

fiscal year 2025 · full schema · 28 days late

2025

31-12

Financial Weakest financial yearnet €156k ▼62.4%

Net result drops to €156k, the lowest in the series.

31-12

Financial Equity above €1MEq €1.04M ▲17.6%

8 profitable years in a row build equity to €1.04M.

29-08

NBB filing Annual accounts filed

fiscal year 2024 · full schema · 29 days late

2024

23-07

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

25-08

NBB filing Annual accounts filed

fiscal year 2022 · full schema · 25 days late

2022

31-12

Financial Equity above €1MEq €1.18M ▲23.1%

5 profitable years in a row build equity to €1.18M.

26-08

NBB filing Annual accounts filed

fiscal year 2021 · full schema · 26 days late

2021

31-12

Financial Highest result since 2018net €1.12M ▲28.1%

Operating result €1.27M, net result €1.12M, both a record.

23-07

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2020

31-12

Financial Equity above €1MEq €1.12M ▲45.9%

3 profitable years in a row build equity to €1.12M.

31-08

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema · 31 days late

2019

20-05

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2018

19-06

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2017

17-08

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema · 17 days late

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

Location & real-estate footprint

Registered office, Kruisem · 1 establishment unit since 2008

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.

Meirestraat(KRU) 99770 Kruisem

Ground area

2.0 ha

Building footprint

2,967 m²

Volume, LiDAR

1,626 m³

Parcel 45017C0880/00F000, Flanders · tallest building 12.8 m. Linked by address, not a title deed.