NORDSTAR

Active

Private limited companyfounded 201412 yrs activeAarschotstraat 26, 1030 Schaarbeek, BelgiumKBO/BCE: BE 0548.865.689

NORDSTAR has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3k and a net result of €6k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 27% of 18024 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).

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Checked score

Score 2025

58 / 100

Fair▲ +48 vs 2024

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability68▲+56

Solvency18▼-24

Growth41▼-2

Stability100

Bankruptcy probability, 12 months

1.4% Low

0%0.5%1.5%4%10%≥ 25%

No credit on open account

Liquidity tight (current ratio 1.07 against 0.89 in 2024), and 92.6% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 47

Relative position

BE, all sectors

reference

Sector 47

higher

← fewer bankruptcies more bankruptcies →

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 12-07-2026, 19 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

19 d early

2024

48 d early

2023

111 d early

2022

66 d early

2021

31 d early

2020

214 d late

2019

29 d early

← before the deadline after the deadline →

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 months

Position in the running window

16-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, micro schema

Turnover

€327k▼ 14.2%

2024 · €380k

2018: €551k 2019: €205k 2020: €155k 2021: €302k 2022: €307k 2023: €354k 2024: €380k

2018 → 2025

EBIT margin

2.2%▲ 1.2pp

2024 · 1.0%

2018: -1.4% 2019: 2.0% 2020: -16.1% 2021: 0.7% 2022: 0.9% 2023: 1.8% 2024: 1.0%

2018 → 2025

Net result

€6k▲ 83.2%

2024 · €4k

2018: €-8k 2019: €4k 2020: €-25k 2021: €2k 2022: €3k 2023: €5k 2024: €4k

2018 → 2025

Working capital

€2k

2024 · €-4k

2018: €3k 2019: €8k 2020: €55k 2021: €-17k 2022: €-14k 2023: €-8k 2024: €-4k

2018 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Turnover€302k-€307k▲ 1.6%€354k▲ 15.3%€380k▲ 7.5%€327k▼ 14.2%

Equity€-16k-€-13k▲ 16.2%€-7k▲ 43.4%€-4k▲ 47.2%€3k

Operating result€2k-€3k▲ 20.6%€6k▲ 128%€4k▼ 40.5%€7k▲ 94.7%

Net result€2k-€3k▲ 40.9%€5k▲ 104%€4k▼ 32.5%€6k▲ 83.2%

Result per fiscal year

Operating resultNet result

The operating result recovers in 2025; 2025 is 95% above 2024 and is the highest year so far.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €34k

99.4%

Fixed assets €190=

Current assets €34k▼ 1.0%

Equity and liabilities €34k

92.6%

Equity €3k

Debt €31k

Debt finances 92.6% of the balance-sheet total.

Key figures and ratios

2025 value · change against 2024

Solvency

7.4%▲

2024 · -11.5%

Current ratio

1.07▲

2024 · 0.89

Quick ratio

0.29▲

2024 · 0.29

Debt / equity

12.50▲

2024 · -9.68

ROE

257.0%▲

2024 · -89.3%

ROA

19.0%▲

2024 · 10.3%

Debt

€31k▼

2024 · €38k

Debt ≤ 1 year

€31k▼

2024 · €38k

Income taxes

€615

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€34k€34k▼

Fixed assets21/28€190€190=

Financial fixed assets28€190€190=

Current assets29/58€34k€34k▼

Stocks and contracts in progress3€23k€25k▲

Stocks30/36€23k€25k▲

Amounts receivable within one year40/41€864€1k▲

Other amounts receivable41€864€1k▲

Cash at bank and in hand54/58€10k€8k▼

Equity and liabilities

Total equity and liabilities10/49€34k€34k▼

Equity10/15€-4k€3k▲

Contributions10/11€19k€19k=

Profit (loss) carried forward14€-23k€-16k▲

Amounts payable17/49€38k€31k▼

Amounts payable within one year42/48€38k€31k▼

Trade debts44€2k€3k▲

Suppliers440/4€2k€3k▲

Taxes, remuneration and social security45€1k€2k▲

Taxes450/3€1k€2k▲

Other amounts payable47/48€35k€27k▼

Income statement Code20242025

Turnover70€380k€327k▼

Goods, raw materials, services and sundry goods60/61€376k€318k▼

Remuneration, social security and pensions62€41-

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€500-

Other operating charges640/8€384€1k▲

Gross operating margin9900€5k€9k▲

Operating profit (loss)9901€4k€7k▲

Financial charges65/66B€178€136▼

Recurring financial charges65€178€136▼

Profit (loss) for the period before taxes9903€4k€7k▲

Income taxes67/77-€615

Profit (loss) for the period9904€4k€6k▲

Profit (loss) for the period to be appropriated9905€4k€6k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-23k€-16k▲

Profit (loss) brought forward from the previous period14P€-26k€-23k▲

The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 15Financial 5Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

12-07

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

31-12

Financial Highest result since 2018net €6k ▲83.2%

Operating result €7k, net result €6k, both a record.

13-06

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

11-04

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

26-05

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

30-06

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

02-03

NBB filing Annual accounts filed

fiscal year 2020 · full schema · 214 days late

2021

31-12

Financial Back to profitnet €2k

Net result €2k after one loss-making year.

2020

31-12

Financial Weakest financial yearnet €-25k ▼682%

Net result drops to €-25k, the lowest in the series; recovery starts the following year.

31-12

Financial Liquidity times 7current ratio 7.94

Current ratio from 1.13 to 7.94; short-term debt falls from €58k to €8k.

02-07

NBB filing Annual accounts filed

fiscal year 2019 · full schema

2019

31-12

Financial Back to profitnet €4k

Net result €4k after one loss-making year.

24-06

NBB filing Annual accounts filed

fiscal year 2018 · full schema

2018

22-06

NBB filing Annual accounts filed

fiscal year 2017 · full schema

2017

03-07

NBB filing Annual accounts filed

fiscal year 2016 · full schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

0 of 9 acts read

About the unread acts

We know of 9 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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