Norbert KELLER
ActiveSummary
Norbert KELLER has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €715k and a net result of €-42k. Equity is shrinking by ~4.4% per year across the filed fiscal years. Its solvency ranks better than 56% of 14079 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
50
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability18▲+4
Solvency62▼-38
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity short (current ratio 0.03 against 0.68 in 2024; short-term debt: 62.7% and cash: 0% of total assets), and 62.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← 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
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-42k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 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
25 d late
2024
30 d early
2023
13 d late
2022
30 d late
2021
19 d late
2020
30 d late
2019
66 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€715k▼ 44.4%
2024 · €1.29M
2018: €1.55M
2019: €1.47M
2020: €1.44M
2021: €1.34M
2022: €1.28M
2023: €1.35M
2024: €1.29M
2018 → 2025
Total assets
€1.92M▲ 12.4%
2024 · €1.71M
2018: €4.13M
2019: €3.26M
2020: €3.21M
2021: €2.08M
2022: €1.94M
2023: €1.61M
2024: €1.71M
2018 → 2025
Net result
€-42k▲ 27.4%
2024 · €-58k
2018: €-19k
2019: €-78k
2020: €-31k
2021: €-96k
2022: €-58k
2023: €62k
2024: €-58k
2018 → 2025
Working capital
€-1.17M▼ 766%
2024 · €-136k
2018: €-1.35M
2019: €-1.24M
2020: €-1.20M
2021: €38k
2022: €45k
2023: €220k
2024: €-136k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.34M-€1.28M▼ 4.3%€1.35M▲ 4.9%€1.29M▼ 4.3%€715k▼ 44.4%
Operating result€-55k-€-59k▼ 7.5%€63k€-47k€-18k▲ 61.5%
Net result€-96k-€-58k▲ 40.1%€62k€-58k€-42k▲ 27.4%
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 stays negative: a loss of €18k in 2025 against €47k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.92M
Fixed assets
€1.89M ▲ 32.9%
Current assets
€32k ▼ 88.8%
Equity and liabilities €1.92M
Equity
€715k ▼ 44.4%
Debt
€1.21M ▲ 185%
Debt's share of the balance-sheet total rises from 24.8% to 62.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€7k▲
2024 · €-23k
Cash flow
€-18k▲
2024 · €-34k
Current ratio
0.03▼
2024 · 0.68
Debt to equity
1.69▲
2024 · 0.33
ROE
-5.9%▼
2024 · -4.5%
ROA
-2.2%▲
2024 · -3.4%
Interest coverage
0.25▲
2024 · -1.06
Debt ≤ 1 year
€1.21M▲
2024 · €424k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 48 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.71M€1.92M▲
Fixed assets21/28€1.42M€1.89M▲
Tangible fixed assets22/27€1.42M€1.89M▲
Land and buildings22€845k€782k▼
Furniture and vehicles24€6k€4k▼
Assets under construction and advance payments27€572k€1.10M▲
Current assets29/58€288k€32k▼
Amounts receivable within one year40/41€31k€31k▲
Trade receivables40-€368
Other amounts receivable41€31k€31k▼
Cash at bank and in hand54/58€256k€171▼
Deferred charges and accrued income490/1€578€600▲
Equity and liabilities
Total equity and liabilities10/49€1.71M€1.92M▲
Equity10/15€1.29M€715k▼
Contributions10/11€69k€69k=
Reserves13€548k€19k▼
Tax-exempt reserves132€19k€19k=
Distributable reserves133€529k-
Profit (loss) carried forward14€670k€628k▼
Amounts payable17/49€424k€1.21M▲
Amounts payable within one year42/48€424k€1.21M▲
Financial debts43-€200k
Credit institutions430/8-€200k
Trade debts44€767€4k▲
Suppliers440/4€767€4k▲
Taxes, remuneration and social security45€2k€7k▲
Taxes450/3€2k€7k▲
Other amounts payable47/48€421k€995k▲
Accrued charges and deferred income492/3-€1k
Income statement
Code20242025
Non-recurring operating income76A-€32k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€25k€25k▲
Other operating charges640/8€5k€5k▲
Non-recurring operating charges66A-€462
Gross operating margin9900€-18k€12k▲
Operating profit (loss)9901€-47k€-18k▲
Financial income75/76B€10k€2k▼
Recurring financial income75€10k€2k▼
Financial charges65/66B€21k€26k▲
Recurring financial charges65€21k€26k▲
Profit (loss) for the period before taxes9903€-58k€-42k▲
Income taxes67/77€32-
Profit (loss) for the period9904€-58k€-42k▲
Profit (loss) for the period to be appropriated9905€-58k€-42k▲
Appropriation of the result
Profit (loss) to be appropriated9906€670k€628k▼
Profit (loss) brought forward from the previous period14P€729k€670k▼
Transfer from equity791/2-€529k
Profit to be distributed694/7-€529k
Return on contributions (dividend)694-€529k
The notes to these accounts (8 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
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 25 days late
2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
13-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 13 days late
2023
31-12
Financial
Back to profitnet €62k
Net result €62k after 5 loss-making years.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 30 days late
2022
19-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 19 days late
2021
31-12
Financial
Weakest financial yearnet €-96k
Net result drops to €-96k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 7current ratio 1.09
Current ratio from 0.15 to 1.09; short-term debt falls from €1.41M to €408k.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
05-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 66 days late
2019
22-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 22 days late
2018
19-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
11-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
5 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, Knokke-Heist · 1 establishment unit since 1989
Ground area
221 m²
Building footprint
221 m²
Volume, LiDAR
2,691 m³
Parcel 31334B0229/00_000, Flanders · tallest building 23.3 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Norbert KELLER
since 19892.045.773.748
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31334B0229/00_000 | Flanders | 221 m² | 1 · 221 m² | 23.3 m · 3 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.
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BE 0819.585.959
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Of 12,022 companies in sector 68203 we hold annual accounts for 5,986. 4,300 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded31-10-1989
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
68110Buying and selling of own real estate
Sources
Crossroads Bank for EnterprisesNational Bank · 36 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.