NOORAAP has a registered holding activity and consists mainly of financial fixed assets; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €1.06M and a net result of €258k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 47% of 920 sector peers (fiscal year 2025). The company has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Holding: general score not applicable
The company has a registered holding activity and financial fixed assets account for more than half of its assets. The general operating-company model is unsuitable for this profile, so we show no financial axes either. Filed figures remain available.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €1.06M
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 06-07-2026, 25 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
25 d early
2024
6 d early
2023
32 d early
2022
24 d early
2021
31 d late
2020
31 d late
2019
11 d late
← before the deadline
after the deadline →
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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€420k▼ 5.8%
2024 · €446k
2024: €446k
2024 → 2025
EBIT margin
76.6%▼ 7.7pp
2024 · 84.3%
2024: 84.3%
2024 → 2025
Net result
€258k▲ 13.6%
2024 · €227k
2018: €13k
2019: €16k
2020: €3k
2021: €35k
2022: €-20k
2023: €131k
2024: €227k
2018 → 2025
Working capital
€-540k▲ 14.1%
2024 · €-629k
2018: €6k
2019: €-55k
2020: €-4k
2021: €-8k
2022: €22k
2023: €-71k
2024: €-629k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€446k€420k▼ 5.8%
Equity€48k-€28k▼ 41.5%€574k▲ 1,939%€801k▲ 39.5%€1.06M▲ 32.2%
Operating result€43k-€-8k€207k€376k▲ 81.7%€322k▼ 14.5%
Net result€35k-€-20k€131k€227k▲ 73.1%€258k▲ 13.6%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 14% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.59M
Fixed assets
€2.35M▼ 0.9%
Current assets
€241k▲ 26.8%
Equity and liabilities €2.59M
Equity
€1.06M▲ 32.2%
Debt
€1.53M▼ 13.0%
The debt ratio falls from 68.7% to 59.1%. Equity is higher and debt is lower.
Key figures and ratios
Solvency
40.9%▲
2024 · 31.3%
ROE
24.4%▼
2024 · 28.3%
ROA
10.0%▲
2024 · 8.9%
Debt
€1.53M▼
2024 · €1.76M
Debt ≤ 1 year
€781k▼
2024 · €819k
Debt > 1 year
€748k▼
2024 · €939k
Income taxes
€78k▼
2024 · €85k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€2.56M€2.59M▲
Fixed assets21/28€2.37M€2.35M▼
Tangible fixed assets22/27€93k€71k▼
Plant, machinery and equipment23€22k€22k▼
Furniture and vehicles24€71k€50k▼
Financial fixed assets28€2.28M€2.28M=
Affiliated companies280/1€2.28M€2.28M=
Participating interests280€2.28M€2.28M=
Other financial fixed assets284/8-€750
Amounts receivable and cash guarantees285/8-€750
Current assets29/58€190k€241k▲
Stocks and contracts in progress3€0€0=
Amounts receivable within one year40/41€136k€174k▲
Trade receivables40€100k€129k▲
Other amounts receivable41€36k€46k▲
Current investments50/53€0-
Other investments51/53€0-
Cash at bank and in hand54/58€52k€65k▲
Deferred charges and accrued income490/1€2k€1k▼
Equity and liabilities
Total equity and liabilities10/49€2.56M€2.59M▲
Equity10/15€801k€1.06M▲
Contributions10/11€434k€434k=
Reserves13€368k€626k▲
Distributable reserves133€368k€626k▲
Profit (loss) carried forward14€0-
Amounts payable17/49€1.76M€1.53M▼
Amounts payable after more than one year17€939k€748k▼
Financial debts170/4€939k€748k▼
Credit institutions173€939k€748k▼
Amounts payable within one year42/48€819k€781k▼
Current portion of amounts payable after more than one year42€183k€191k▲
Trade debts44€1k€69k▲
Suppliers440/4€1k€69k▲
Taxes, remuneration and social security45€115k€63k▼
Taxes450/3€115k€61k▼
Remuneration and social security454/9-€2k
Other amounts payable47/48€519k€458k▼
Income statement
Code20242025
Operating income70/76A€508k€512k▲
Turnover70€446k€420k▼
Other operating income74€62k€92k▲
Non-recurring operating income76A€0-
Operating charges60/66A€132k€190k▲
Services and other goods61€107k€165k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€22k€22k▲
Other operating charges640/8€3k€3k▲
Operating profit (loss)9901€376k€322k▼
Financial income75/76B€372€77k▲
Recurring financial income75€372€77k▲
Income from financial fixed assets750-€75k
Income from current assets751-€2k
Other financial income752/9€372€3▼
Financial charges65/66B€64k€63k▼
Recurring financial charges65€64k€63k▼
Debt charges650€64k€62k▼
Other financial charges652/9€759€657▼
Profit (loss) for the period before taxes9903€312k€336k▲
Income taxes67/77€85k€78k▼
Taxes670/3€85k€78k▼
Tax adjustments and reversals of tax provisions77€0-
Profit (loss) for the period9904€227k€258k▲
Profit (loss) for the period to be appropriated9905€227k€258k▲
Appropriation of the result
Profit (loss) to be appropriated9906€338k€258k▼
Profit (loss) brought forward from the previous period14P€111k€0▼
Transfer to equity691/2€338k€258k▼
To other reserves6921€338k€258k▼
The notes to these accounts (45 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
06-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
30-03
State Gazette act
Incorporation · Founder
Founding capital · Bank account · Frank Desmet
2025
31-12
Financial
Highest result since 2018net €258k ▲13.6%
Net result €258k, the highest in the series.
31-12
Financial
Equity above €1MEq €1.06M ▲32.2%
3 profitable years in a row build equity to €1.06M.
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
29-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €131k
Net result €131k after one loss-making year.
31-12
Financial
Equity above €500kEq €574k ▲1939%
Equity rises from €28k to €574k.
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-20k ▼158%
Net result drops to €-20k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
11-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 11 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Waregem · 1 establishment unit since 2003
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Bessemstraat 928790 WaregemGround area
691 m²
Building footprint
140 m²
Volume, LiDAR
731 m³
Parcel 34452B0035/00X000, Flanders · tallest building 8.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
NOORAAP
since 20032.133.627.143
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34452B0035/00X000 | Flanders | 691 m² | 1 · 140 m² | 8.4 m · 2 fl. |
Linked by address, not proof of ownership
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.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 1,266 EUR awarded| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,266 EUR | 0 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 4,575 companies in sector 82300 we hold annual accounts for 1,669. 717 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded12-05-2003
Fiscal year end31-12
Activities, NACEBEL
64210Activities of holding companies
82300Organisation of conventions and trade shows
64200Holdings
Sources
Crossroads Bank for EnterprisesNational Bank · 22 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.