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NOREL

Active
Private limited companyfounded 198145 yrs activeCarembergstraat(P.E.) 66, 7850 Enghien, BelgiumKBO/BCE: BE 0421.149.056
Summary

NOREL has been active since 1981 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €233,374 and a net result of €13,826. Equity is growing by ~6.6% per year across the filed fiscal years. Its solvency ranks better than 69% of 1920 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).

Risk analysisWatch ReportCompare
NORELActiveChecked score 85/100
Risk analysis ReportCompare

Overview

Activity
Advertising agencies
NACE 73110Manufacture of rubber and plastic products NACE 22260NACE 22290
#2 oldest company in Enghien, Professional and technical services sector1 site
Size
€355,083total assets 2025
Staff
3.3 FTE
Equity
€233,374
Profit
€13,826
Financial health
85 Excellent Checked score 2025
Bankruptcy chance 12 m
0.3%
Structure
Accounts filed 45 d late0 of 5 deeds read
Why 85- 1 change of registered office in 24 months- Latest accounts 45 days late; 1 of the last 3 late+ Liquidity: current ratio 3.36, cash €49,094, halved+ Founded in 1981Show the evidence

Checked score

Score 2025
85 / 100
Excellent
Probability in this band: under 0.55%
Better than 46% of its sector peers (NACE 73, micro)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Strong
Solvency 91-6
equity 65.7% of total assets
Liquidity 59-22
short-term debt 22.8% · cash 13.8%
Profitability 74+4
return on assets 3.9%
Bankruptcy probability, 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%

About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (11,123 companies)
Last 24 months 11-2024: 0.1%lowest value 12-2024: 0.1%● 0.0% vs 11-2024lowest value 01-2025: 0.1%● 0.0% vs 12-2024lowest value 02-2025: 0.1%● 0.0% vs 01-2025lowest value 03-2025: 0.1%● 0.0% vs 02-2025lowest value 04-2025: 0.1%▲ +7.3% vs 03-2025 05-2025: 0.2%▲ +246% vs 04-2025 06-2025: 0.1%▼ -39.7% vs 05-2025 07-2025: 0.1%● 0.0% vs 06-2025 08-2025: 0.1%● 0.0% vs 07-2025 09-2025: 0.1%● 0.0% vs 08-2025 10-2025: 0.1%● 0.0% vs 09-2025 11-2025: 0.1%● 0.0% vs 10-2025 12-2025: 0.1%● 0.0% vs 11-2025 01-2026: 0.1%● 0.0% vs 12-2025 02-2026: 0.1%● 0.0% vs 01-2026 03-2026: 0.1%● 0.0% vs 02-2026 04-2026: 0.1%▲ +6.5% vs 03-2026 05-2026: 0.1%▲ +1.5% vs 04-2026 06-2026: 0.1%▲ +9.8% vs 05-2026 07-2026: 0.2%▲ +4.8% vs 06-2026 08-2026: 0.3%▲ +86.9% vs 07-2026 09-2026: 0.4%▲ +25.9% vs 08-2026highest value 10-2026: 0.3%▼ -12.8% vs 09-2026
  • 1 change of registered office in 24 months raises the probability
  • Liquidity: current ratio 3.36, cash €49,094, halved lowers the probability
  • Latest accounts 45 days late; 1 of the last 3 late raises the probability
  • Founded in 1981 lowers the probability for this profile
Credit up to €19,000 at 30 days acceptable
Liquidity ample (current ratio 3.36 against 3.33 in 2024; short-term debt: 22.8% and cash: 13.8% of total assets), and 34.3% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 73, micro). Better than this share of them on solvency 63%, liquidity 51%, profitability 45%, growth against the median 23%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · 1 change of registered office in 24 months
In the bankruptcy model this factor raises the probability.
Belgian State Gazette
lowers risk · Liquidity: current ratio 3.36, cash €49,094, halved
In the bankruptcy model this factor lowers the probability.
NBB · annual accounts
raises risk · Latest accounts 45 days late; 1 of the last 3 late
In the bankruptcy model this factor raises the probability.
NBB · filings
lowers risk · Founded in 1981
In the bankruptcy model this factor lowers the probability for this profile.
KBO
neutral · A punctual record breaks
This company filed 5 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-09-2026, 45 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filings
Deviation from the deadline
2025
45 d late
2024
62 d early
2023
2 d early
2022
33 d early
2021
65 d early
2020
19 d early
2019
66 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 10 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.

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. Usually files around 28 June (4 of the last 5 filed years within 32 days of that day).
Companies Code · seven months
Position in the running window
03-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · 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
  1. Annual accounts filedfiscal year 2025 · abbreviated…
  2. Annual accounts filedfiscal year 2024 · full…
  3. Annual accounts filedfiscal year 2023 · full…

Key points

  • Positive: Oldest company in Enghien, Professional and technical services…in the Checked rankings #2 View
  • Positive: 7 profitable years in a rowprofit 2025: €13,826 7 years View
  • Active since 1981founded 13-01-1981 45 years View

By topic

Financials

Fiscal year
2025
Total assets
€355,083
Profit
€13,826
Solvency
65.7%
Total assets▼ 13.7%
Net result
20182025
Go to Financials

Timeline

Events
14
Since
2017
Next accounts
by 31-07-2027
  1. 14-09-2026Annual accounts filed
  2. 30-05-2025Annual accounts filed
  3. 29-07-2024Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Private limited company
Activity
Advertising agenciesNACE 73110
Founded
13-01-1981
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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