Equity
€1.1m ▲ 1.0%
NOMAG paid out €52,890 in dividends. That is 83% of the 2025 profit.
NOMAG
Lifetime
20 annual accounts with figures on one time axis, 41 filings since 1984peak €454,527 (2013)
€201,301▼ 22.1%
lowest -€16,236 (2010)
€63,404▼ 40.6%
peak €1.1m (2025)
€1.1m▲ 1.0%
€388,199▲ 54.4%
peak 8.7 FTE (2006)
1 FTEunchanged
Board2 names since 2013
1 directorNOËL Gustaaf
Documentsfilings and deeds
30-09-202661 days late
2025financial year
Gross margin from €258,574 to €201,301Result from €106,784 to €63,404Dividend €52,890Debts from €251,373 to €388,199Cash from €220,215 to €292,469
Key points
from the 2025 annual accountsTurnover
≈ €940,000 estimated
The accounts state no turnover.
Debts
€388,199 ▲ 54.4%
Debts rose by €136,826 in 2025. A dividend stands under other debts on the balance sheet date until it is paid.
Staff
1 FTE from 8.7 in 2006
Between 2006 and 2025, 89% of the full-time equivalents disappeared.
Filings
41 annual accounts 61 days
Latest accounts filed late: after the legal deadline.
Position in the sector
73.7%
Higher solvency than 84% of companies in specialised construction. Sector median 42.4% · 2,466 companies.
Checked score
95
Excellent
Financially stronger than 57% of micro companies in specialised construction (NACE 43)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,696 companies (NACE 43, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: < 0.1%▼ -0.1 percentage points vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026lowest value
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: 0.1%▲ +0.1 percentage points vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026highest value
10-2026: 0.1%● unchanged vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Sector: Specialised construction activities (NACE 43)
Last filed accounts filed 61 days late; 1 of the last 3 accounts late
lowers risk
Liquidity: current ratio 2.80, cash €292,469
Founded in 1984
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 43, micro). It does better than 80% of them on solvency, 63% on liquidity, 47% on profitability and 38% on growth.
The bankruptcy probability was computed on 10-11-2026 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 very low class on 30-06-2025, 0.1% 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, 17,041 companies had the same profile as NOMAG has now. Each dot stands for 43 companies, two years later.
94.4%
were still trading
4.9%
stopped another way
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of NOMAG itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,448 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 17,041 companies, not a prediction for NOMAG. 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
Credit of up to €100,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.8 (3.73 in 2024), above the usual 1.5. Short-term debt is 26.3% and cash 19.8% of total assets. 26.3% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 61 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-09-2026, 61 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
61 days late
2024
on the day
2023
24 days late
2022
32 days late
2021
18 days late
2020
31 days late
2019
91 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 37 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% 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 25 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
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0425174853
Purpose change · Amendment of the articles · Resignations & appointments
Reappointment: NOËL Gustaaf (sole director) · Resignation: NOËL Gustaaf (director) · “Alle activiteiten met betrekking tot de landbouw,de tuinbouw,de landbouwnijverheid,de bosbouw,het fokken van…” (deed in Dutch) · General meeting of 29-10-2021 · Gazette deed
1 director appointed, 2 reappointments
Reappointments: Gustaaf NOEL and Luc PEERLINCK · Appointment: Gustaaf NOEL (managing director) · General meeting of 29-05-2019 · Gazette deed
First establishment
NOMAG NV, Marktweg 94, Geraardsbergen
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| NOMAG Geraardsbergen | €1.5m | €201,301 | 73.7% | 1 |
| BOUWSTOFFEN FOSSE Diksmuide | €2.2m | €188,502 | 73.1% | 1 |
| CEILING SYSTEMS Hasselt | €2.2m | €173,183 | 44.1% | 0.8 |
| KOOP PUTBORINGEN Mechelen | €1.4m | €213,051 | 96.9% | 2 |
| JOHN SAEY Merelbeke-Melle | €0.9m | €291,329 | 73.5% | 2 |
| BOUWTEAM SEDIMA Ghent | €1.4m | €176,764 | 57.6% | 0 |
| CHAPEWERKEN VERHULST Wevelgem | €1.1m | €353,540 | 36.6% | 1 |
These companies have the same main activity as NOMAG: other specialised construction activities (NACE 43990). They are comparable in size and age: total assets between €905,000 and €2.2m, founded between 1979 and 1990.
Official details
Source: KBO- Status
- Active since 21-01-1984Normal situation
- Activity
- Other specialised construction activitiesNACE 43990and 1 other
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.024.305.9659500 Geraardsbergen, since 01-12-1997
- Financial year end
- 31 December
- Peppol
- Reachable since 05-11-2025
Insights on NOMAG
The gross margin has fallen every year since 2022. Solvency fell in 2025 from 81.0% to 73.7% because of the dividend and higher debts to suppliers.
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 NOMAG
- What is the company number of NOMAG?
- The company number of NOMAG is 0425.174.853. The VAT number is the same number with BE in front: BE 0425.174.853.
- Where is NOMAG based?
- The registered office is at Marktweg 94, 9500 Geraardsbergen.Company details
- What does NOMAG do?
- According to the KBO register, the main activity is other specialised construction activities (NACE 43990).
- What is the legal form of NOMAG?
- NOMAG is a public limited company (NV).
- When was NOMAG founded?
- NOMAG was founded on 21-01-1984.
- Is NOMAG still active?
- Yes, NOMAG is an active enterprise in the KBO register.
- How many employees does NOMAG have?
- NOMAG had an average of 1 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does NOMAG fall under?
- In its 2025 annual accounts, NOMAG states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of NOMAG?
- The turnover in financial year 2025 is ≈ €940,000. This figure is estimated from the gross margin of €201,301 and 69 comparable companies (NACE 43990). It probably lies between €580,000 and €1.5m.
- Is NOMAG profitable?
- In financial year 2025, NOMAG made a profit of €63,404.
- Where can I find the annual accounts of NOMAG?
- NOMAG filed 41 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of NOMAG due?
- NOMAG must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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