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NOELS

Active
Private limited companyfounded 200026 yrs activeOude straat 2, 3540 Herk-de-Stad, BelgiumKBO/BCE: BE 0471.576.485
Summary

NOELS has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €48,759 and a net result of -€9,700. Equity is growing by ~7.2% per year across the filed fiscal years. Its solvency ranks better than 87% of 4272 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).

Risk analysisWatch ReportCompare
NOELSActiveChecked score 64/100
Risk analysis ReportCompare

Overview

Activity
Photography, excluding press photography
NACE 74201NACE 74811
1 site
Size
€56,531total assets 2025
Equity
€48,759
Loss
-€9,700
Turnover not published (abridged schema)
Financial health
64 Healthy Checked score 2025
Bankruptcy chance 12 m
1.3%
Structure
Accounts on time0 of 3 deeds read
Why 64- 1 change of registered office in 24 months- Liquidity: current ratio 6.75, cash €108, halved- Loss of €9,700 (FY 2025)+ Sector Other professional, scientific and technical activities (NACE 74)Show the evidence

Checked score

Score 2025
64 / 100
Healthy
Probability in this band: 0.55% to 1.5%
Better than 38% of its sector peers (NACE 74, micro)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Weak
Solvency 100=
equity 86.3% of total assets
Liquidity 48-17
short-term debt 13.7% · cash 0.2%
Profitability 0-49
return on assets -17.2%
Bankruptcy probability, 12 months
1.3% Low
0%0.5%1.5%4%10%≥ 25%

About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (5,407 companies)
Last 24 months 11-2024: < 0.1%lowest value 12-2024: < 0.1%● 0.0% vs 11-2024lowest value 01-2025: 0.1%▲ +2.0% vs 12-2024 02-2025: 0.1%▲ +9.8% vs 01-2025 03-2025: 0.1%▼ -1.8% vs 02-2025 04-2025: 0.1%▲ +40.0% vs 03-2025 05-2025: 0.1%▲ +75.3% vs 04-2025 06-2025: 0.3%▲ +139% vs 05-2025 07-2025: 0.3%● 0.0% vs 06-2025 08-2025: 0.3%● 0.0% vs 07-2025 09-2025: 0.3%● 0.0% vs 08-2025 10-2025: 0.3%▼ -0.6% vs 09-2025 11-2025: 0.3%● 0.0% vs 10-2025 12-2025: 0.3%● 0.0% vs 11-2025 01-2026: 0.3%▲ +4.4% vs 12-2025 02-2026: 0.4%▲ +11.6% vs 01-2026 03-2026: 0.4%▼ -0.5% vs 02-2026 04-2026: 0.5%▲ +23.9% vs 03-2026 05-2026: 0.7%▲ +52.3% vs 04-2026 06-2026: 1.3%▲ +92.3% vs 05-2026highest value 07-2026: 1.3%● 0.0% vs 06-2026highest value 08-2026: 1.3%● 0.0% vs 07-2026highest value 09-2026: 1.3%● 0.0% vs 08-2026highest value 10-2026: 1.3%● 0.0% vs 09-2026highest value
  • 1 change of registered office in 24 months raises the probability
  • Liquidity: current ratio 6.75, cash €108, halved raises the probability
  • Loss of €9,700 (FY 2025) raises the probability
  • Sector Other professional, scientific and technical activities (NACE 74) lowers the probability
Credit up to €3,000 at 30 days acceptable
Liquidity ample (current ratio 6.75 against 26.8 in 2024; short-term debt: 13.7% and cash: 0.2% of total assets), and 13.7% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 74, micro). Better than this share of them on solvency 88%, liquidity 31%, profitability 7%, growth against the median 26%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 06-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · 1 change of registered office in 24 months
In the bankruptcy model this factor raises the probability.
Belgian State Gazette
raises risk · Liquidity: current ratio 6.75, cash €108, halved
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Loss of €9,700 (FY 2025)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
lowers risk · Sector Other professional, scientific and technical activities (NACE 74)
In the bankruptcy model this factor lowers the probability.
KBO
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
on the day
2024
1 d early
2023
33 d early
2022
30 d early
2021
1 d early
2020
on the day
2019
on the day
← 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 9 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% of the sector filed late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 29 April (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
30-09-2026 close07-10-2026 today30-04-2027 deadline
neutral · 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
  1. Annual accounts filedfiscal year 2025 · micro…
  2. Annual accounts filedfiscal year 2024 · micro…
  3. Annual accounts filedfiscal year 2023 · micro…

Key points

  • Caution: Among the weakest 14% on net resultsector median €9,174 · 4,269 companies -€9,700 View
  • Positive: Always filed on timeaccounts within the deadline every year 8 years View
  • Active since 2000founded 31-03-2000 26 years View

By topic

Financials

Fiscal year
2025
Total assets
€56,531
Loss
-€9,700
Solvency
86.3%
Total assets▼ 6.9%
Net result
20192025
Go to Financials

Timeline

Events
14
Since
2017
Next accounts
by 30-04-2027
  1. 30-04-2026Annual accounts filed
  2. 29-04-2025Annual accounts filed
  3. 28-03-2024Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Private limited company
Activity
Photography, excluding press photographyNACE 74201
Founded
31-03-2000
Year ends
30-09
Peppol
Reachable for e-invoices
Go to Company details

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