Nordicconstruct
ActiveSummary
The computed 12-month bankruptcy probability of Nordicconstruct is 1.5% (moderate). The 2025 annual accounts show equity of €337k and a net result of €174k. Equity is growing by ~30.9% per year across the filed fiscal years. Its solvency ranks better than 36% of 2198 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability85▲+5
Solvency50▼-1
Growth78=
Track record100
Bankruptcy probability, 12 months
1.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €22k at 30 days acceptable
Liquidity ample (current ratio 2.14 against 2.36 in 2024; short-term debt: 46.7% and cash: 81.7% of total assets), but 75% 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
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
25%
Return on assets
13%
Age of the figures
9 mo
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 06-05-2026, 86 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
86 d early
2024
22 d early
2023
22 d early
2022
30 d late
2021
97 d early
← 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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€337k▼ 7.2%
2024 · €362k
2021: €140klowest in 5 years
2022: €186k▲ +33.0% vs 2021
2023: €243k▲ +30.2% vs 2022
2024: €362k▲ +49.5% vs 2023highest in 5 years
2025: €337k▼ -7.2% vs 2024
2021 → 2025
Total assets
€1.34M▼ 3.1%
2024 · €1.39M
2021: €498klowest in 5 years
2022: €806k▲ +61.9% vs 2021
2023: €1.14M▲ +41.0% vs 2022
2024: €1.39M▲ +22.1% vs 2023highest in 5 years
2025: €1.34M▼ -3.1% vs 2024
2021 → 2025
Net result
€174k▲ 45.1%
2024 · €120k
2021: €82k
2022: €46k▼ -43.8% vs 2021lowest in 5 years
2023: €56k▲ +21.6% vs 2022
2024: €120k▲ +113% vs 2023
2025: €174k▲ +45.1% vs 2024highest in 5 years
2021 → 2025
Working capital
€716k▼ 9.3%
2024 · €789k
2021: €229klowest in 5 years
2022: €272k▲ +18.4% vs 2021
2023: €690k▲ +154% vs 2022
2024: €789k▲ +14.4% vs 2023highest in 5 years
2025: €716k▼ -9.3% vs 2024
2021 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€140k-€186k▲ 33.0%€243k▲ 30.2%€362k▲ 49.5%€337k▼ 7.2%
2021: €140klowest in 5 years
2022: €186k▲ +33.0% vs 2021
2023: €243k▲ +30.2% vs 2022
2024: €362k▲ +49.5% vs 2023highest in 5 years
2025: €337k▼ -7.2% vs 2024
Operating result€104k-€65k▼ 37.4%€78k▲ 20.1%€168k▲ 115%€233k▲ 38.9%
2021: €104k
2022: €65k▼ -37.4% vs 2021lowest in 5 years
2023: €78k▲ +20.1% vs 2022
2024: €168k▲ +115% vs 2023
2025: €233k▲ +38.9% vs 2024highest in 5 years
Net result€82k-€46k▼ 43.8%€56k▲ 21.6%€120k▲ 113%€174k▲ 45.1%
2021: €82k
2022: €46k▼ -43.8% vs 2021lowest in 5 years
2023: €56k▲ +21.6% vs 2022
2024: €120k▲ +113% vs 2023
2025: €174k▲ +45.1% vs 2024highest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 39% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.34M
Fixed assets
€325 ▼ 98.3%
Current assets
€1.34M ▼ 1.8%
Equity and liabilities €1.34M
Equity
€337k ▼ 7.2%
Debt
€1.01M ▼ 1.7%
Debt's share of the balance-sheet total rises from 73.9% to 75.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€240k▲
2024 · €175k
Cash flow
€181k▲
2024 · €127k
Current ratio
2.14▼
2024 · 2.36
Quick ratio
1.94▼
2024 · 2.21
Debt to equity
2.99▲
2024 · 2.83
ROE
51.7%▲
2024 · 33.1%
ROA
13.0%▲
2024 · 8.6%
Interest coverage
111.21▲
2024 · 43.29
Debt ≤ 1 year
€628k▲
2024 · €579k
Income taxes
€61k▲
2024 · €44k
Staff costs
€19k
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 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.39M€1.34M▼
Fixed assets21/28€19k€325▼
Tangible fixed assets22/27€19k€325▼
Plant, machinery and equipment23€17k€325▼
Furniture and vehicles24€3k€0▼
Leasing and similar rights25€0-
Current assets29/58€1.37M€1.34M▼
Stocks and contracts in progress3€86k€124k▲
Stocks30/36€66k€74k▲
Contracts in progress37€20k€50k▲
Amounts receivable within one year40/41€404k€120k▼
Trade receivables40€143k€78k▼
Other amounts receivable41€262k€42k▼
Cash at bank and in hand54/58€876k€1.10M▲
Deferred charges and accrued income490/1€1k€1k▲
Equity and liabilities
Total equity and liabilities10/49€1.39M€1.34M▼
Equity10/15€362k€337k▼
Contributions10/11€100€100=
Reserves13€362k€336k▼
Distributable reserves133€362k€336k▼
Profit (loss) carried forward14-€0
Amounts payable17/49€1.02M€1.01M▼
Amounts payable within one year42/48€579k€628k▲
Current portion of amounts payable after more than one year42€0-
Trade debts44€276k€338k▲
Suppliers440/4€276k€338k▲
Taxes, remuneration and social security45€57k€35k▼
Taxes450/3€57k€35k▼
Other amounts payable47/48€246k€254k▲
Accrued charges and deferred income492/3€446k€379k▼
Income statement
Code20242025
Remuneration, social security and pensions62-€19k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€7k▼
Other operating charges640/8€4k€5k▲
Non-recurring operating charges66A€12k-
Gross operating margin9900€191k€264k▲
Operating profit (loss)9901€168k€233k▲
Financial income75/76B€0€4k▲
Recurring financial income75€0€4k▲
Financial charges65/66B€4k€2k▼
Recurring financial charges65€4k€2k▼
Profit (loss) for the period before taxes9903€164k€235k▲
Income taxes67/77€44k€61k▲
Profit (loss) for the period9904€120k€174k▲
Profit (loss) for the period to be appropriated9905€120k€174k▲
Appropriation of the result
Profit (loss) to be appropriated9906€120k€174k▲
Transfer from equity791/2-€200k
Transfer to equity691/2€120k€174k▲
To other reserves6921€120k€174k▲
Profit to be distributed694/7-€200k
Return on contributions (dividend)694-€200k
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €525 | - | - | - | - | - |
| Remuneration, social security and pensions62 | €22k | €1k | €0 | - | €19k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22k | €26k | €18k | €7k | €7k | ▼ 9.8% |
| Other operating charges640/8 | €2k | €11k | €8k | €4k | €5k | ▲ 29.7% |
| Non-recurring operating charges66A | - | €43k | €0 | €12k | - | - |
| Gross operating margin9900 | €150k | €146k | €103k | €191k | €264k | ▲ 38.3% |
| Operating profit (loss)9901 | €104k | €65k | €78k | €168k | €233k | ▲ 38.9% |
| Financial income75/76B | €385 | €7 | €4k | €0 | €4k | - |
| Recurring financial income75 | €385 | €7 | €4k | €0 | €4k | - |
| Financial charges65/66B | €888 | €5k | €5k | €4k | €2k | ▼ 46.7% |
| Recurring financial charges65 | €888 | €5k | €5k | €4k | €2k | ▼ 46.7% |
| Profit (loss) for the period before taxes9903 | €103k | €60k | €77k | €164k | €235k | ▲ 43.5% |
| Income taxes67/77 | €21k | €13k | €21k | €44k | €61k | ▲ 39.1% |
| Profit (loss) for the period9904 | €82k | €46k | €56k | €120k | €174k | ▲ 45.1% |
| Profit (loss) for the period to be appropriated9905 | €82k | €46k | €56k | €120k | €174k | ▲ 45.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €498k | €806k | €1.14M | €1.39M | €1.34M | ▼ 3.1% |
| Fixed assets21/28 | €93k | €117k | €33k | €19k | €325 | ▼ 98.3% |
| Tangible fixed assets22/27 | €93k | €117k | €33k | €19k | €325 | ▼ 98.3% |
| Plant, machinery and equipment23 | €28k | €33k | €21k | €17k | €325 | ▼ 98.1% |
| Furniture and vehicles24 | €28k | €24k | €568 | €3k | €0 | ▼ 100% |
| Leasing and similar rights25 | - | - | €12k | €0 | - | - |
| Other tangible fixed assets26 | €38k | €59k | - | - | - | - |
| Current assets29/58 | €404k | €689k | €1.10M | €1.37M | €1.34M | ▼ 1.8% |
| Stocks and contracts in progress3 | €22k | €34k | €49k | €86k | €124k | ▲ 44.3% |
| Stocks30/36 | €9k | €19k | €49k | €66k | €74k | ▲ 12.3% |
| Contracts in progress37 | €13k | €15k | €0 | €20k | €50k | ▲ 150% |
| Amounts receivable within one year40/41 | €296k | €196k | €222k | €404k | €120k | ▼ 70.3% |
| Trade receivables40 | €206k | €179k | €179k | €143k | €78k | ▼ 45.4% |
| Other amounts receivable41 | €90k | €17k | €43k | €262k | €42k | ▼ 83.9% |
| Cash at bank and in hand54/58 | €83k | €443k | €831k | €876k | €1.10M | ▲ 25.3% |
| Deferred charges and accrued income490/1 | €3k | €15k | €1k | €1k | €1k | ▲ 24.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €498k | €806k | €1.14M | €1.39M | €1.34M | ▼ 3.1% |
| Equity10/15 | €140k | €186k | €243k | €362k | €337k | ▼ 7.2% |
| Contributions10/11 | €100 | €100 | €100 | €100 | €100 | = |
| Reserves13 | €140k | €186k | €242k | €362k | €336k | ▼ 7.2% |
| Distributable reserves133 | €140k | €186k | €242k | €362k | €336k | ▼ 7.2% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | - |
| Amounts payable17/49 | €358k | €619k | €894k | €1.02M | €1.01M | ▼ 1.7% |
| Amounts payable after more than one year17 | €18k | €32k | €0 | - | - | - |
| Financial debts170/4 | €18k | €32k | €0 | - | - | - |
| Amounts payable within one year42/48 | €175k | €417k | €413k | €579k | €628k | ▲ 8.4% |
| Current portion of amounts payable after more than one year42 | €10k | €13k | €8k | €0 | - | - |
| Trade debts44 | €43k | €118k | €141k | €276k | €338k | ▲ 22.3% |
| Suppliers440/4 | €43k | €118k | €141k | €276k | €338k | ▲ 22.3% |
| Taxes, remuneration and social security45 | €61k | €12k | €23k | €57k | €35k | ▼ 38.4% |
| Taxes450/3 | €57k | €12k | €23k | €57k | €35k | ▼ 38.4% |
| Remuneration and social security454/9 | €4k | - | - | - | - | - |
| Other amounts payable47/48 | €61k | €273k | €241k | €246k | €254k | ▲ 3.7% |
| Accrued charges and deferred income492/3 | €165k | €170k | €480k | €446k | €379k | ▼ 14.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €82k | €46k | €56k | €120k | €174k | ▲ 45.1% |
| + Depreciation and write-downs630 | €22k | €26k | €18k | €7k | €7k | ▼ 9.8% |
| Operating cash flow (approximation) | €104k | €72k | €74k | €127k | €181k | ▲ 42.0% |
| Investment in fixed assets (approximation) | - | €-49k | €66k | €7k | €13k | ▲ 90.2% |
| Change in cash | - | €360k | €388k | €45k | €222k | ▲ 389% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
06-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2021net €174k ▲45.1%
Operating result €233k, net result €174k, both a record.
09-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
09-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €200kEq €243k ▲30.2%
3 profitable years in a row build equity to €243k.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 30 days late
2022
31-12
Financial
Weakest financial yearnet €46k ▼43.8%
Net result drops to €46k, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €150kEq €186k ▲33%
2 profitable years in a row build equity to €186k.
25-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Aarschot · 1 establishment unit since 2019
Ground area
1,371 m²
Building footprint
616 m²
Volume, LiDAR
2,303 m³
Parcel 24001C0004/00F003, Flanders · tallest building 7.0 m, ±1 floor. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Nordicconstruct
since 20192.285.542.308
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24001C0004/00F003 | Flanders | 1,371 m² | 1 · 616 m² | 7.0 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
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 · 525 EUR awarded| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 525 EUR | 0 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,036. 10,627 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded12-02-2019
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
43221Plumbing work
43222Installation of electric heating, air conditioning, cooling and ventilation
43230Insulation installation
Scores and ratios are computed by Checked and are not a credit decision.