Active BE 0755.394.527Private limited company

NOFRA ENGINEERING

Anglo 22 ·9870 Zulte, Belgium· 5 yrs active

Sector: Activities of holding companies (64210)

Conclusion Checked

NOFRA ENGINEERING is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €452k and a net result of €111k. Equity is growing by ~37.1% per year across the filed fiscal years. Its solvency ranks better than 92% of 514 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 5 annual accounts.

Key figures

Equity	€452k
Net result	€111k
Better than sector	92%
Active	5 yrs

Financial profile 4 of 5 axes measured · computed by Checked

93 / 100

Strong profile, led by profitability.

Computed on 4 of 5 axes. Not measured: health. An unmeasured axis is not a zero: no data was read for it.

Health -

Profitability 100

Solvency 100

Growth 78

Stability 94

Bankruptcy probability (12 mo) Checked model v1 · free

This is a financial institution (bank, insurer or financial holding). Our bankruptcy model is trained on ordinary trading and manufacturing companies; a bank balance sheet falls outside that scope. We therefore show no bankruptcy probability rather than a misleading figure.

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

More than 3 years active

Founded in 2020, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score

Model not applicable to financial institutions

The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here.

Financial overview5 NBB filings

Annual accounts filed on 20-08-2026 with the NBB · fiscal year 2025 · abbreviated schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Net result: growth of ~16.7%/year over 5 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 64, Financial service activities, except insurance and pension funding · compared within the same schema type (abbreviated schema)

Metric	This company	Sector median	Position in the sector
Solvency	95.1%	43.7%	better than 92% of 514 sector peers
Net result	€111k	€67k	better than 61% of 514 sector peers
Equity	€452k	€506k	better than 47% of 514 sector peers
Gross operating margin	€153k	€81k	better than 70% of 513 sector peers
Staff costs	€85	€72k	higher than 5% of 62 sector peers

Net profit

€111k

+16.0% 21-25

Total assets

€476k

+18.5% 21-25

Equity

€452k

+32.5% 21-25

Staff costs

€85

-78.0% 21-25

Income taxes

€30k

-19.7% 21-25

Debt

€23k

-61.2% 21-25

Debt ≤ 1y

€23k

-61.2% 21-25

Solvency

95.1%

+11.8% 21-25

ROE

24.5%

-12.4% 21-25

ROA

23.3%

-2.1% 21-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023	2022	2021
Deposit	abbreviated schema	micro schema	micro schema	micro schema	micro schema
Revenue	n/a	n/a	n/a	n/a	n/a
EBITDA	n/a	n/a	n/a	n/a	n/a
Net profit	€111k	€96k	€82k	€86k	€58k
Cash flow	n/a	n/a	n/a	n/a	n/a
Staff costs	€85	-	€385	€838	-
Income taxes	€30k	€38k	€32k	€34k	€22k
Dividends	-	-	-	-	-
Total assets	€476k	€401k	€306k	€233k	€115k
Equity	€452k	€341k	€246k	€164k	€78k
Debt	€23k	€60k	€60k	€69k	€36k
of which ≤ 1y	€23k	€60k	€60k	€69k	€36k
of which > 1y	-	-	-	-	-
Working capital	n/a	n/a	n/a	n/a	n/a
Employees (FTE)	-	-	-	-	-

Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, micro schema), so the columns are not directly comparable.

Ratios (computed)

	2025	2024	2023	2022	2021
Current ratio	n/a	n/a	n/a	n/a	n/a
Quick ratio	n/a	n/a	n/a	n/a	n/a
Working capital ratio	n/a	n/a	n/a	n/a	n/a
Solvency	95.1%	85.1%	80.3%	70.2%	68.3%
Debt / equity	n/a	n/a	n/a	n/a	n/a
Long-term debt ratio	n/a	n/a	n/a	n/a	n/a
Interest coverage	n/a	n/a	n/a	n/a	n/a
Gross margin	n/a	n/a	n/a	n/a	n/a
Net margin	n/a	n/a	n/a	n/a	n/a
ROA	23.3%	23.8%	26.7%	36.7%	50.9%
ROE	24.5%	28.0%	33.3%	52.3%	74.4%
EBITDA margin	n/a	n/a	n/a	n/a	n/a
Days sales outstanding	n/a	n/a	n/a	n/a	n/a
Days payable outstanding	n/a	n/a	n/a	n/a	n/a
Inventory turnover	n/a	n/a	n/a	n/a	n/a
Days inventory (DSI)	n/a	n/a	n/a	n/a	n/a

Balance-sheet composition 2025

Assets

Fixed assets €34k · 7.1% Current assets €442k · 92.9%

Equity & liabilities

Equity €452k · 95.1% Debt €23k · 4.9%

Full annual accounts (22 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022	2021
Balance sheet, Assets
TOTAL ASSETS	20/58	€476k	€401k	€306k	€233k	€115k
Fixed assets	21/28	€34k	€42k	€48k	€25k	€34k
Tangible fixed assets	22/27	€34k	€42k	€48k	€25k	€34k
Current assets	29/58	€442k	€359k	€258k	€209k	€81k
Amounts receivable within one year	40/41	€2k	€17k	€9k	€11k	€17k
Investments	50/53	€220k	€220k	-	-	-
Cash & bank	54/58	€219k	€122k	€250k	€198k	€64k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€476k	€401k	€306k	€233k	€115k
Equity	10/15	€452k	€341k	€246k	€164k	€78k
Contributions / capital	10/11	€20k	€20k	€20k	€20k	€20k
Reserves	13	€432k	€321k	€226k	€144k	€58k
Amounts payable	17/49	€23k	€60k	€60k	€69k	€36k
Amounts payable within one year	42/48	€23k	€60k	€60k	€69k	€36k
Trade debts payable within one year	44	€2k	€2k	€31k	€11k	€2k
Income statement
Gross operating margin	9900	€153k	€150k	€127k	€130k	€86k
Operating result	9901	€141k	€133k	€114k	€120k	€80k
Financial income	75	€664	€3	€142	€0	-
Financial charges	65	€72	€144	€72	€92	€94
Result before taxes	9903	€141k	€133k	€114k	€119k	€80k
Income taxes	67/77	€30k	€38k	€32k	€34k	€22k
Net result for the period	9904	€111k	€96k	€82k	€86k	€58k
Result to be appropriated	9905	€111k	€96k	€82k	€86k	€58k

Legal Structure

NACE primary	Activities of holding companies(64210)
Legal form	Private limited company(610)
Incorporation	29-09-2020
Status	Active
Postal code	9870

Establishment units 1 location

NOFRA ENGINEERING

Anglo 22, 9870 ZulteFinancial service activities, except insurance and pension funding

since 20212.308.682.845

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
44081C0067/00C003	Flanders	630 m²	1 · 132 m²	9.2 m · 2 fl.

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 5 events

All 9Financial 4Filings 5

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

2026

20-08

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema · 20 days late

2025

31-12

Financial Highest result since 2021net €111k ▲16%

Operating result €141k, net result €111k, both a record.

31-12

Financial Liquidity triplescurrent ratio 19.01

Current ratio from 5.99 to 19.01; short-term debt falls from €60k to €23k.

18-08

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 18 days late

2024

24-07

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

31-12

Financial Equity above €200kEq €246k ▲49.9%

3 profitable years in a row build equity to €246k.

26-07

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

31-12

Financial Equity above €150kEq €164k ▲109%

2 profitable years in a row build equity to €164k.

22-08

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 22 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 1 acts read

We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Holdings64200Activities of holding companies64210Business and other management consultancy70200Activities of head offices; management consultancy activities70210Business consulting70220Public relations and communication consultancy73300Office administrative and support services82100Office administrative, office support and other business support activities82110

Names & trade names

Legal nameNL

NOFRA ENGINEERING

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