NORENCA
ActiveSummary
NORENCA has been active since 1974 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.91M and a net result of €203k. Equity is growing by ~8.3% per year across the filed fiscal years. Its solvency ranks better than 33% of 4867 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
57
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability46▲+13
Solvency55=
Growth53▲+1
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €220k at 30 days acceptable
Liquidity tight (current ratio 1.43 against 1.4 in 2024; short-term debt: 69.9% and cash: 0% of total assets), and 69.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
30.1%
Return on assets
1.6%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
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 07-07-2026, 24 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
24 d early
2024
30 d early
2023
27 d early
2022
4 d early
2021
17 d early
2020
25 d early
2019
53 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, full schema
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
€43.61M▲ 6.8%
2024 · €40.85M
2018: €80.91M
2019: €70.53M
2020: €66.86M
2021: €64.12M
2022: €67.47M
2023: €42.79M
2024: €40.85M
2018 → 2025
EBIT margin
0.5%▲ 0.2pp
2024 · 0.3%
2018: -1.5%
2019: 0.7%
2020: 2.5%
2021: 0.9%
2022: 0.3%
2023: -1.0%
2024: 0.3%
2018 → 2025
Net result
€203k▲ 886%
2024 · €21k
2018: €-1.32M
2019: €367k
2020: €1.44M
2021: €429k
2022: €191k
2023: €-459k
2024: €21k
2018 → 2025
Working capital
€3.91M▲ 15.2%
2024 · €3.39M
2018: €1.84M
2019: €2.18M
2020: €3.58M
2021: €3.93M
2022: €4.05M
2023: €3.49M
2024: €3.39M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€64.12M-€67.47M▲ 5.2%€42.79M▼ 36.6%€40.85M▼ 4.5%€43.61M▲ 6.8%
Equity€3.96M-€4.15M▲ 4.8%€3.69M▼ 11.1%€3.71M▲ 0.6%€3.91M▲ 5.5%
Operating result€605k-€218k▼ 64.0%€-421k€114k€203k▲ 77.6%
Net result€429k-€191k▼ 55.6%€-459k€21k€203k▲ 886%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 78% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €13.00M
Fixed assets
€6k ▼ 98.0%
Current assets
€13.00M ▲ 9.0%
Equity and liabilities €13.00M
Equity
€3.91M ▲ 5.5%
Debt
€9.09M ▲ 6.5%
Debt's share of the balance-sheet total rises from 69.7% to 69.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€515k▲
2024 · €426k
Cash flow
€515k▲
2024 · €332k
Current ratio
1.43▲
2024 · 1.40
Quick ratio
1.08▼
2024 · 1.09
Debt to equity
2.32▲
2024 · 2.30
ROE
5.2%▲
2024 · 0.6%
ROA
1.6%▲
2024 · 0.2%
Interest coverage
4.39▲
2024 · 2.18
Debt ≤ 1 year
€9.09M▲
2024 · €8.53M
Staff costs
€2.67M▲
2024 · €2.23M
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 · 69 lines
Balance sheet
Code20242025
Assets
Total assets20/58€12.24M€13.00M▲
Fixed assets21/28€318k€6k▼
Tangible fixed assets22/27€312k-
Leasing and similar rights25€312k-
Financial fixed assets28€6k€6k=
Other financial fixed assets284/8€6k€6k=
Shares284€6k€6k=
Current assets29/58€11.93M€13.00M▲
Stocks and contracts in progress3€2.66M€3.20M▲
Stocks30/36€2.66M€3.20M▲
Raw materials and consumables30/31€2.48M€2.73M▲
Finished goods33€180k€233k▲
Goods purchased for resale34-€241k
Amounts receivable within one year40/41€9.25M€9.75M▲
Trade receivables40€5.33M€5.75M▲
Other amounts receivable41€3.91M€4.00M▲
Cash at bank and in hand54/58-€687
Deferred charges and accrued income490/1€22k€46k▲
Equity and liabilities
Total equity and liabilities10/49€12.24M€13.00M▲
Equity10/15€3.71M€3.91M▲
Contributions10/11€700k€700k=
Capital10€700k€700k=
Issued capital100€700k€700k=
Reserves13€1.40M€1.40M=
Non-distributable reserves130/1€70k€70k=
Legal reserve130€70k€70k=
Tax-exempt reserves132€166k€166k=
Distributable reserves133€1.17M€1.17M=
Profit (loss) carried forward14€1.61M€1.81M▲
Amounts payable17/49€8.53M€9.09M▲
Amounts payable within one year42/48€8.53M€9.09M▲
Current portion of amounts payable after more than one year42€429k-
Financial debts43€3.26M€2.38M▼
Credit institutions430/8€3.26M€2.38M▼
Trade debts44€3.84M€6.02M▲
Suppliers440/4€3.84M€6.02M▲
Taxes, remuneration and social security45€714k€679k▼
Taxes450/3€264k€241k▼
Remuneration and social security454/9€450k€439k▼
Other amounts payable47/48€293k€1k▼
Income statement
Code20242025
Operating income70/76A€46.67M€50.10M▲
Turnover70€40.85M€43.61M▲
Change in stocks of work in progress, finished goods and contracts in progress71€1k€54k▲
Other operating income74€5.82M€6.43M▲
Non-recurring operating income76A-€811
Operating charges60/66A€46.55M€49.89M▲
Goods for resale, raw materials and consumables60€27.79M€30.40M▲
Purchases600/8€27.78M€30.90M▲
Change in stocks: decrease (increase)609€9k€-501k▼
Services and other goods61€16.17M€16.45M▲
Remuneration, social security and pensions62€2.23M€2.67M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€312k€312k=
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€17k€-11k▼
Other operating charges640/8€28k€75k▲
Operating profit (loss)9901€114k€203k▲
Financial income75/76B€105k€120k▲
Recurring financial income75€105k€120k▲
Income from current assets751€104k€111k▲
Other financial income752/9€314€10k▲
Financial charges65/66B€198k€121k▼
Recurring financial charges65€198k€121k▼
Debt charges650€196k€117k▼
Other financial charges652/9€3k€3k▲
Profit (loss) for the period before taxes9903€21k€203k▲
Profit (loss) for the period9904€21k€203k▲
Profit (loss) for the period to be appropriated9905€21k€203k▲
Appropriation of the result
Profit (loss) to be appropriated9906€1.61M€1.81M▲
Profit (loss) brought forward from the previous period14P€1.59M€1.61M▲
Social balance
Average headcount (FTE)908741.749.4▲
The notes to these accounts (52 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
19-08
State Gazette act
Reappointment: L&S Bedrijfsrevisoren BV (statutory auditor)Resignation: Maria Otten (permanent representative) · Permanent representatives: Maxim Oeyen and Willy Oeyen6 facts ▸
State Gazette act
Reappointment: L&S Bedrijfsrevisoren BV (statutory auditor)
Resignation: Maria Otten (permanent representative) · Permanent representatives: Maxim Oeyen and Willy Oeyen6 facts ▸
- General meeting, 24-06-2026
- Auditor reappointment, L&S Bedrijfsrevisoren BV
- Board meeting, 01-07-2026
- Director resignation, Maria Otten (permanent representative)
- Permanent representative, Maxim Oeyen
- Permanent representative, Willy Oeyen
07-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €21k
Net result €21k after one loss-making year.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
14-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
06-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Highest result since 2018net €1.44M ▲292%
Operating result €1.69M, net result €1.44M, both a record.
22-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 53 days late
2019
31-12
Financial
Back to profitnet €367k
Net result €367k after one loss-making year.
31-12
Financial
Equity above €2MEq €2.09M ▲21.2%
Equity rises from €1.73M to €2.09M.
Show earlier events
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
13-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
11-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Geel · 1 establishment unit since 1974
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.
Winkelom 582440 GeelGround area
2,060 m²
Parcel 13373K0328/00Y000, Flanders. Linked by address, not a title deed.
1 establishment unit
NORENCA
since 19742.010.425.067
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13373K0328/00Y000 | Flanders | 2,060 m² | - | - |
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.
Statutory auditor
1 auditor| L&S Réviseurs d'Entreprises, L&S Bedrijfsrevisoren, L&S Registered AuditorsCurrent Auditor | 24-06-2026 → present |
Recognitions · licences · registrations
Food safety, FASFC
1 siteGeel2.010.425.067
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Of 946 companies in sector 46231 we hold annual accounts for 422. 156 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 formPublic limited company
Founded31-10-1974
Fiscal year end31-12
Activities, NACEBEL 2025
46231Wholesale of live animals
46321Wholesale of meat and meat products, excluding game and poultry
10130Manufacture of food products
46322Wholesale trade
47221Retail sale of meat and meat products, excluding game and poultry
Sources
Crossroads Bank for EnterprisesNational Bank · 47 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.