Equity
-€57,380
Debts exceed assets in financial year 2025.
NOEL A.
Lifetime
20 annual accounts with figures on one time axis, 32 filings since 1994peak €91,061 (2008)
€30,419▼ 14.4%
lowest -€283,869 (2018)
€27,130▲ 3.1%
peak €124,508 (2012)
-€57,380▲ €27,130
€124,420▼ 8.0%
peak 3.1 FTE (2009)
-not published
Board1 name since 2003
1 directorNOËL Adrien Henri Joseph
Owners2 names in the annual accounts
Documentsfilings and deeds
31-07-2026on the last day
2025micro format
Gross margin from €35,556 to €30,419Equity from -€84,510 to -€57,380Cash from €14,027 to €22,690
Key points
from the 2025 annual accountsProfit
5 years
5 profitable years in a row. Profit 2025: €27,130.
Turnover
≈ €120,000 estimated
The accounts state no turnover.
Debts
€124,420 186% of the balance sheet
Suppliers 1%Taxes and wages 94%Other 5%
Filings
32 annual accounts since 1994
Seven of the last ten came late. The 2022 accounts came latest: 72 days after the end of the period.
Position in the sector
-85.6%
Lower solvency than 95% of companies in fabricated metal products. Sector median 44.2% · 2,341 companies.
Checked score
56
Fair
Financially stronger than 52% of micro companies in fabricated metal products (NACE 25)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
0.8% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.5% across 3,710 companies (NACE 25, micro).
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.4%
01-2025: 1.4%● unchanged vs 12-2024
02-2025: 1.4%● unchanged vs 01-2025
03-2025: 1.3%▼ -0.1 percentage points vs 02-2025
04-2025: 1.3%● unchanged vs 03-2025
05-2025: 1.4%▲ +0.1 percentage points vs 04-2025
06-2025: 1.3%▼ -0.1 percentage points vs 05-2025
07-2025: 1.7%▲ +0.4 percentage points vs 06-2025
08-2025: 2.2%▲ +0.5 percentage points vs 07-2025highest value
09-2025: 1.0%▼ -1.2 percentage points vs 08-2025
10-2025: 1.0%● unchanged vs 09-2025
11-2025: 1.0%● unchanged vs 10-2025
12-2025: 1.0%● unchanged vs 11-2025
01-2026: 1.0%● unchanged vs 12-2025
02-2026: 1.0%● unchanged vs 01-2026
03-2026: 1.0%● unchanged vs 02-2026
04-2026: 1.0%● unchanged vs 03-2026
05-2026: 1.0%● unchanged vs 04-2026
06-2026: 0.9%▼ -0.1 percentage points vs 05-2026
07-2026: 1.1%▲ +0.2 percentage points vs 06-2026
08-2026: 0.8%▼ -0.3 percentage points vs 07-2026lowest value
09-2026: 0.8%● unchanged vs 08-2026lowest value
10-2026: 0.8%● unchanged vs 09-2026lowest value
11-2026: 0.8%● unchanged vs 10-2026lowest value
Financial strengthAverage
Score breakdown
raises risk
Capped at 59: negative equity
Negative equity -€57,380
Sector: Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
lowers risk
Size: total assets €67,040
Founded in 1993
Calculation
The band follows from the bankruptcy probability. 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 25, micro). It does better than 3% of them on solvency, 31% on liquidity, 94% on profitability and 80% on growth.
The bankruptcy probability was computed on 07-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 3,794 companies had the same profile as NOEL A. has now. Each dot stands for 10 companies, two years later.
91.5%
were still trading
5.3%
stopped another way
2.7%
went bankrupt
Another 0.6% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of NOEL A. itself: 0.8% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,794 companies, not a prediction for NOEL A.. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.52 (0.35 in 2024), below 1. Short-term debt is 185.6% and cash 33.8% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 2341 sector peers (2025).
NBB · sector comparisonPosition among 2341 sector peers
Solvency
better than 5%
← weakest
strongest →
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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
4 days late
2023
31 days late
2022
72 days late
2021
26 days late
2020
10 days late
2019
46 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 27 days after the deadline. In the sector (NACE 25), the median for financial year 2024 was 7 days before the deadline, and 35% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 26 August (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
08-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- Adrien NOEL 50%annual accounts 2016
- Alain VAN DE VELDE 50%annual accounts 2016
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0451217571
Change of role: NOËL Adrien Henri Joseph, from statutory manager to statutory director
Director discharge: NOËL Adrien Henri Joseph · General meeting of 04-07-2023 · Gazette deed
First establishment
NOEL A SPRL, Rue Fiotte 11 B, Charleroi
Incorporation
published on 19-11-1993 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| NOEL A. Charleroi | €67,040 | €30,419 | -85.6% | - |
| R.O.D.B. Laswerken en Metaalconstructies Lint | €73,452 | €33,459 | 90.5% | - |
| H.C.P. Heusden-Zolder | €57,612 | €26,882 | 93.5% | - |
| DOT Gerpinnes | €53,237 | €20,168 | -35.2% | - |
| BNFT Charleroi | €56,014 | €32,513 | -64.2% | - |
| BFD-MONTAGE Heusden-Zolder | €80,378 | €28,055 | 65.3% | - |
| METAAL- EN SIERSMEEDWERKEN VANDEVOORDT LUCIEN Kortenaken | €85,584 | €35,974 | 77.0% | - |
These companies have the same main activity as NOEL A.: manufacture of metal structures and parts of structures (NACE 25110). They are comparable in size and age: total assets between €53,200 and €85,600, founded between 1990 and 2002.
Official details
Source: KBO- Status
- Active since 22-10-1993Normal situation
- Activity
- Manufacture of metal structures and parts of structuresNACE 25110and 1 other
- Joint committee
- 111Metal, mechanical and electrical engineering · annual accounts 2021
- Establishment unit
- 2.064.697.1616060 Charleroi, since 21-12-1993
- Financial year end
- 31 December
- Peppol
- Reachable since 16-02-2026
Annual accounts 2025
- €67,040▲ 32.2%
- Filing
- Filed on 31-07-2026, on the last day of the filing period
Insights on NOEL A.
NOEL A. files the micro format. That format states no turnover. The gross margin fell from €82,278 in 2006 to €30,419 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about NOEL A.
- What is the company number of NOEL A.?
- The company number of NOEL A. is 0451.217.571. The VAT number is the same number with BE in front: BE 0451.217.571.
- Where is NOEL A. based?
- The registered office is at Rue Joseph Wauters 88, 6043 Charleroi.Company details
- What does NOEL A. do?
- According to the KBO register, the main activity is manufacture of metal structures and parts of structures (NACE 25110).
- What is the legal form of NOEL A.?
- NOEL A. is a private limited company (BV).
- When was NOEL A. founded?
- NOEL A. was founded on 22-10-1993.
- Is NOEL A. still active?
- Yes, NOEL A. is an active enterprise in the KBO register.
- How many employees does NOEL A. have?
- NOEL A. had an average of 0.8 full-time equivalents in financial year 2022, according to the filed annual accounts.Financials
- Which joint committee does NOEL A. fall under?
- In its 2021 annual accounts, NOEL A. states joint committee 111 (Metal, mechanical and electrical engineering).
- What is the turnover of NOEL A.?
- The turnover in financial year 2025 is ≈ €120,000. This figure is estimated from the gross margin of €30,419 and 2,940 comparable companies of the same size. It probably lies between €73,000 and €220,000. It is a rough estimate. In financial year 2019 turnover was €0.
- Is NOEL A. profitable?
- In financial year 2025, NOEL A. made a profit of €27,130.
- Where can I find the annual accounts of NOEL A.?
- NOEL A. filed 32 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of NOEL A. due?
- NOEL A. must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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