NORAH
ActiveNORAH has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €87k and a net result of €3k. Equity remains stable across the filed fiscal years (±1.1% per year). Its solvency ranks better than 65% of 1305 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
71
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability71▼-29
Solvency84▼-16
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity ample (current ratio 3.13 against 3.97 in 2024; short-term debt: 24.8% and cash: 3.4% of total assets), and 41% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 33
Relative position
BE, all sectors
reference
Sector 33
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
59%
Return on assets
1.8%
Age of the figures
15 mo
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
19202122232425
2019 to 2025 · latest year €87k
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 26-02-2026, 26 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
26 d late
2024
105 d late
2023
29 d late
2022
41 d late
2021
26 d late
2020
3 d early
2019
50 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close21-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€87k▲ 3.2%
2024 · €84k
2019: €89k
2020: €90k
2021: €77k
2022: €60k
2023: €46k
2024: €84k
2019 → 2025
Total assets
€147k▲ 32.4%
2024 · €111k
2019: €165k
2020: €96k
2021: €138k
2022: €154k
2023: €107k
2024: €111k
2019 → 2025
Net result
€3k▼ 93.1%
2024 · €38k
2019: €17k
2020: €1k
2021: €-13k
2022: €-17k
2023: €-14k
2024: €38k
2019 → 2025
Working capital
€78k▼ 3.2%
2024 · €80k
2019: €71k
2020: €86k
2021: €93k
2022: €76k
2023: €45k
2024: €80k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€77k-€60k▼ 21.9%€46k▼ 24.0%€84k▲ 84.1%€87k▲ 3.2%
Operating result€-12k-€-14k▼ 17.0%€-11k▲ 25.0%€40k€4k▼ 90.5%
Net result€-13k-€-17k▼ 32.9%€-14k▲ 14.6%€38k€3k▼ 93.1%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 90% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €147k
Fixed assets
€33k▲ 770%
Current assets
€114k▲ 6.5%
Equity and liabilities €147k
Equity
€87k▲ 3.2%
Debt
€60k▲ 124%
The debt ratio rises from 24.3% to 41.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€7k▼
2024 · €40k
Cash flow
€6k▼
2024 · €39k
Solvency
59.0%▼
2024 · 75.7%
Current ratio
3.13▼
2024 · 3.97
Quick ratio
3.13▼
2024 · 3.97
Debt / equity
0.70▲
2024 · 0.32
ROE
3.1%▼
2024 · 45.7%
ROA
1.8%▼
2024 · 34.6%
Interest coverage
6.21▼
2024 · 32.87
Debt
€60k▲
2024 · €27k
Debt ≤ 1 year
€37k▲
2024 · €27k
Debt > 1 year
€24k
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€111k€147k▲
Fixed assets21/28€4k€33k▲
Tangible fixed assets22/27€384€29k▲
Furniture and vehicles24€384€29k▲
Financial fixed assets28€3k€3k=
Current assets29/58€107k€114k▲
Amounts receivable within one year40/41€98k€108k▲
Trade receivables40€38k€57k▲
Other amounts receivable41€60k€50k▼
Cash at bank and in hand54/58€9k€5k▼
Deferred charges and accrued income490/1-€2k
Equity and liabilities
Total equity and liabilities10/49€111k€147k▲
Equity10/15€84k€87k▲
Contributions10/11€25k€25k=
Outside capital11€25k-
Other1109/19€25k-
Reserves13€63k€63k=
Non-distributable reserves130/1€3k€3k=
Reserves not available under the articles1311€3k€3k=
Tax-exempt reserves132€51k€51k=
Distributable reserves133€10k€10k=
Profit (loss) carried forward14€-4k€-2k▲
Amounts payable17/49€27k€60k▲
Amounts payable after more than one year17-€24k
Financial debts170/4-€24k
Amounts payable within one year42/48€27k€37k▲
Current portion of amounts payable after more than one year42€4k€6k▲
Trade debts44€21k€30k▲
Suppliers440/4€21k€30k▲
Taxes, remuneration and social security45€2k€847▼
Taxes450/3€2k€847▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€234€3k▲
Other operating charges640/8€936€2k▲
Gross operating margin9900€41k€9k▼
Operating profit (loss)9901€40k€4k▼
Financial income75/76B€3€1▼
Recurring financial income75€3€1▼
Financial charges65/66B€1k€1k▼
Recurring financial charges65€1k€1k▼
Profit (loss) for the period before taxes9903€39k€3k▼
Income taxes67/77€197-
Profit (loss) for the period9904€38k€3k▼
Profit (loss) for the period to be appropriated9905€38k€3k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-4k€-2k▲
Profit (loss) brought forward from the previous period14P€-43k€-4k▲
The notes to these accounts (7 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
26-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 26 days late
2025
16-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 105 days late
2024
30-06
Financial
Back to profitnet €38k
Net result €38k after 3 loss-making years.
30-06
Financial
Liquidity doublescurrent ratio 3.97
Current ratio from 1.78 to 3.97; short-term debt falls from €58k to €27k.
29-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
13-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 41 days late
2022
30-06
Financial
Weakest financial yearnet €-17k
Net result drops to €-17k, the lowest in the series; recovery starts the following year.
26-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
28-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-06
Financial
Liquidity times 7current ratio 14.13
Current ratio from 1.99 to 14.13; short-term debt falls from €72k to €7k.
2019
12-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
21-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
22-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
12-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB 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, Menen · 1 establishment unit since 2005
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.
Lauwbergstraat 1458930 MenenGround area
235 m²
Building footprint
62 m²
Volume, LiDAR
365 m³
Parcel 34024A0531/00V007, Flanders · tallest building 8.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
NORAH
since 20052.146.268.817
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34024A0531/00V007 | Flanders | 235 m² | 1 · 62 m² | 8.6 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.
Similar companies · same sector, comparable size
NAUTIC INVEST SPRL
BE 0470.927.476
Raeren · Eq €87k
MECON SERVICES
BE 0757.833.185
Zele · Eq €87k
AFA GROUP
BE 0731.622.005
Wommelgem · Eq €87k
Jovele
BE 0784.820.565
Brecht · Eq €87k
Dabekaussen Machines
BE 0793.260.951
Kinrooi · Eq €86k
Of 3,713 companies in sector 33120 we hold annual accounts for 1,342. 1,113 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded01-04-2005
Fiscal year end30-06
Activities, NACEBEL
33120Repair and maintenance of machinery
47783Retail trade
47784Retail trade
Sources
Crossroads Bank for EnterprisesNational Bank · 20 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.