NKCS
ActiveSummary
The computed 12-month bankruptcy probability of NKCS is 2.5% (moderate). The 2025 annual accounts show equity of €675,070 and a net result of €173,958. Equity is growing by ~45.7% per year across the filed fiscal years. Its solvency ranks better than 20% of 10485 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability24▼-20
Solvency34▲+1
Growth78=
Track record94
Bankruptcy probability, 12 months
2.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days only on tighter terms
Liquidity short (current ratio 0.6 against 0.43 in 2024; short-term debt: 41.6% and cash: 1.3% of total assets), and 90.6% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
9.4%
Return on assets
2.4%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 10485 sector peers (2025).
NBB · sector comparisonPosition among 10485 sector peers
Solvency
better than 20%
← weakest
strongest →
neutral · 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 · 5 filingsDeviation from the deadline
2025
28 d late
2024
27 d late
2023
27 d late
2022
67 d late
2021
123 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 54 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€675,070▲ 34.7%
2024 · €501,112
Total assets
€7.1m▲ 16.3%
2024 · €6.1m
Net result
€173,958▲ 13.0%
2024 · €153,970
Working capital
-€1.2m▲ 48.3%
2024 · -€2.3m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€5,182-€48,170▲ 829%€189,279▲ 293%€343,927▲ 81.7%-€17,262
Net result€1,760-€32,788▲ 1,763%€109,594▲ 234%€153,970▲ 40.5%€173,958▲ 13.0%
Equity€4,760-€237,548▲ 4,890%€347,142▲ 46.1%€501,112▲ 44.4%€675,070▲ 34.7%
Total assets€101,622-€1.5m▲ 1,417%€2.5m▲ 61.7%€6.1m▲ 147%€7.1m▲ 16.3%
Debt€96,862-€1.3m▲ 1,246%€2.1m▲ 64.5%€5.6m▲ 163%€6.5m▲ 14.7%
Working capital-€7,228--€626,428▼ 8,567%-€1.1m▼ 78.7%-€2.3m▼ 104%-€1.2m▲ 48.3%
Staff (FTE)0
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 €17,262 after €343,927 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.1m
Fixed assets
€5.4m ▲ 20.6%
Current assets
€1.8m ▲ 5.2%
Equity and liabilities €7.1m
Equity
€675,070 ▲ 34.7%
Debt
€6.5m ▲ 14.7%
Debt's share of the balance-sheet total falls from 91.8% to 90.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€42,086▼
2024 · €440,380
Cash flow
€233,305▼
2024 · €250,423
Current ratio
0.60▲
2024 · 0.43
Quick ratio
0.48▲
2024 · 0.43
Debt to equity
9.59▼
2024 · 11.27
ROE
25.8%▼
2024 · 30.7%
ROA
2.4%▼
2024 · 2.5%
Interest coverage
0.27▼
2024 · 2.67
Debt ≤ 1 year
€3.0m▼
2024 · €4.0m
Debt > 1 year
€3.5m▲
2024 · €1.7m
Income taxes
€0▼
2024 · €26,570
Staff costs
€355
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 142 companies that looked in July 2024 the way this one looks now, 1.4% went bankrupt within 24 months and 96% are still going.
- Medium-sized
- 5 to 10 years old
- solvency under 10%
- a profit under 5% of the balance sheet
1.4%
went bankrupt
2.1%
stopped otherwise
96%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 2.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 142 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €1,261 | - |
| Remuneration, social security and pensions62 | - | - | - | - | €355 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,899 | €139,312 | €43,558 | €96,453 | €59,348 | ▼ 38.5% |
| Other operating charges640/8 | €2,973 | €2,665 | €379 | €7,509 | €76,021 | ▲ 912% |
| Non-recurring operating charges66A | - | €70 | - | €475 | €3,160 | ▲ 565% |
| Gross operating margin9900 | €16,054 | €190,217 | €233,216 | €448,364 | €121,622 | ▼ 72.9% |
| Operating profit (loss)9901 | €5,182 | €48,170 | €189,279 | €343,927 | -€17,262 | ▼ 105% |
| Financial income75/76B | - | €173 | €54 | €1,714 | €349,106 | ▲ 20,269% |
| Recurring financial income75 | - | €173 | €54 | €1,714 | €349,106 | ▲ 20,269% |
| Financial charges65/66B | €341 | €4,367 | €64,617 | €165,100 | €157,887 | ▼ 4.4% |
| Recurring financial charges65 | €341 | €4,367 | €64,617 | €165,100 | €157,887 | ▼ 4.4% |
| Profit (loss) for the period before taxes9903 | €4,842 | €43,976 | €124,715 | €180,540 | €173,958 | ▼ 3.6% |
| Income taxes67/77 | €3,082 | €11,188 | €15,121 | €26,570 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €1,760 | €32,788 | €109,594 | €153,970 | €173,958 | ▲ 13.0% |
| Profit (loss) for the period to be appropriated9905 | €1,760 | €32,788 | €109,594 | €153,970 | €173,958 | ▲ 13.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €101,622 | €1.5m | €2.5m | €6.1m | €7.1m | ▲ 16.3% |
| Fixed assets21/28 | €56,205 | €874,742 | €1.7m | €4.4m | €5.4m | ▲ 20.6% |
| Tangible fixed assets22/27 | €31,205 | €849,742 | €1.5m | €3.0m | €2.2m | ▼ 25.4% |
| Land and buildings22 | - | €823,323 | €1.5m | €3.0m | €2.2m | ▼ 25.7% |
| Furniture and vehicles24 | €27,071 | €22,285 | €17,412 | €18,785 | €12,534 | ▼ 33.3% |
| Leasing and similar rights25 | - | - | - | - | €11,818 | - |
| Other tangible fixed assets26 | €4,134 | €4,134 | €4,134 | €4,134 | €4,134 | = |
| Financial fixed assets28 | €25,000 | €25,000 | €139,667 | €1.5m | €3.1m | ▲ 115% |
| Current assets29/58 | €45,417 | €666,423 | €812,414 | €1.7m | €1.8m | ▲ 5.2% |
| Stocks and contracts in progress3 | - | €430,117 | €381,332 | - | €366,192 | - |
| Stocks30/36 | - | €430,117 | €381,332 | - | €366,192 | - |
| Amounts receivable within one year40/41 | €45,417 | €233,086 | €430,854 | €490,023 | €1.3m | ▲ 172% |
| Trade receivables40 | €45,375 | €2,832 | €9,338 | €135,755 | €664,306 | ▲ 389% |
| Other amounts receivable41 | €42 | €230,254 | €421,516 | €354,269 | €669,844 | ▲ 89.1% |
| Cash at bank and in hand54/58 | - | €3,210 | €228 | €1.2m | €90,560 | ▼ 92.5% |
| Deferred charges and accrued income490/1 | - | €9 | - | €320 | €2,091 | ▲ 554% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €101,622 | €1.5m | €2.5m | €6.1m | €7.1m | ▲ 16.3% |
| Equity10/15 | €4,760 | €237,548 | €347,142 | €501,112 | €675,070 | ▲ 34.7% |
| Contributions10/11 | €3,000 | €203,000 | €203,000 | €203,000 | €203,000 | = |
| Profit (loss) carried forward14 | €1,760 | €34,548 | €144,142 | €298,112 | €472,070 | ▲ 58.4% |
| Amounts payable17/49 | €96,862 | €1.3m | €2.1m | €5.6m | €6.5m | ▲ 14.7% |
| Amounts payable after more than one year17 | €44,217 | €10,766 | €212,692 | €1.7m | €3.5m | ▲ 111% |
| Financial debts170/4 | €44,217 | €8,700 | €627 | €1.4m | €3.2m | ▲ 120% |
| Other amounts payable178/9 | - | €2,066 | €212,066 | €212,066 | €322,066 | ▲ 51.9% |
| Amounts payable within one year42/48 | €52,645 | €1.3m | €1.9m | €4.0m | €3.0m | ▼ 25.4% |
| Current portion of amounts payable after more than one year42 | €7,228 | €7,337 | €8,074 | €50,518 | €138,595 | ▲ 174% |
| Financial debts43 | €388 | €1.1m | €1.5m | €2.0m | €516,889 | ▼ 74.7% |
| Credit institutions430/8 | €388 | €1.1m | €1.5m | €2.0m | €516,889 | ▼ 74.7% |
| Trade debts44 | €8,715 | €141,927 | €297,503 | €649,394 | €983,539 | ▲ 51.5% |
| Suppliers440/4 | €8,715 | €141,927 | €297,503 | €649,394 | €983,539 | ▲ 51.5% |
| Advances received on contracts in progress46 | - | €4,448 | - | - | - | - |
| Taxes, remuneration and social security45 | €9,813 | €29,807 | €37,768 | €64,003 | €33,471 | ▼ 47.7% |
| Taxes450/3 | €9,813 | €29,807 | €37,768 | €64,003 | €33,471 | ▼ 47.7% |
| Other amounts payable47/48 | €26,500 | €22,801 | €48,841 | €1.2m | €1.3m | ▲ 10.5% |
| Accrued charges and deferred income492/3 | - | - | - | €2,700 | €3,000 | ▲ 11.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,760 | €32,788 | €109,594 | €153,970 | €173,958 | ▲ 13.0% |
| + Depreciation and write-downs630 | €7,899 | €139,312 | €43,558 | €96,453 | €59,348 | ▼ 38.5% |
| Operating cash flow (approximation) | €9,659 | €172,100 | €153,152 | €250,423 | €233,305 | ▼ 6.8% |
| Investment in fixed assets (approximation) | - | -€957,849 | -€848,121 | -€2.9m | -€972,907 | ▲ 66.0% |
| Change in cash | - | - | -€2,983 | €1.2m | -€1.1m | ▼ 193% |
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
18-09
State Gazette act
Board meeting · Director in officeRegistered-office move · Power of attorney5 facts ▸
State Gazette act
Board meeting · Director in office
Registered-office move · Power of attorney5 facts ▸
- Board meeting, 22-07-2026
- Director in office, Nicolas Kunkera (director)
- Director in office, Claire Sallets (director)
- Registered-office move, Chaussée de Boondael 365A à 1050 Ixelles
- Power of attorney, Guiaux Robert
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 28 days late
2025
31-12
Financial
Highest result since 2021net €173,958 ▲13%
Net result €173,958, the highest in the series.
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-12
Financial
Equity above €500,000Eq €501,112 ▲44.4%
4 profitable years in a row build equity to €501,112.
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 27 days late
2023
06-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 67 days late
2022
31-12
Financial
Equity above €200,000Eq €237,548 ▲4,890%
2 profitable years in a row build equity to €237,548.
01-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 123 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 3 acts read
About the unread acts
Of the 3 Belgian State Gazette acts we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Elsene · 1 establishment unit since 2020
Ground area
257 m²
Building footprint
130 m²
Volume, LiDAR
1,495 m³
Parcel 21445C0264/00B010, Brussels · tallest building 15.6 m, ±4 floors. Linked by address, not a title deed.
38
companies at this address
See who is registered here
1 establishment unit
NKCS
since 20202.312.068.244
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21445C0264/00B010 | Brussels | 257 m² | 1 · 130 m² | 15.6 m · 4 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.
Structure & network
Owners and holdings
3 holdingsOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 3
-
100%
-
50%
-
25%
According to the 2024 annual accounts of NKCS and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 75 companies in sector 47524 we hold annual accounts for 47. 25 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded14-12-2020
Fiscal year end31-12
Activities, NACEBEL 2025
47524Retail trade
41001General construction of residential buildings
41002Construction of residential and non-residential buildings
41003General construction of other non-residential buildings
43332Laying of wooden floor and wall coverings
Contact
E-mail
nicolas@nkcs.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0759767544
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.