NORIK
ActiveSummary
NORIK has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €357,825 and a net result of €72,875. Equity is shrinking by ~3.4% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability84▲+14
Solvency85▼-15
Growth58▼-20
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity tight (current ratio 1.04 against 20.84 in 2024; short-term debt: 34.1% and cash: 35.5% of total assets), and 40.2% of the assets are financed with debt.
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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
59.8%
Return on assets
12.2%
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 21-04-2026, 101 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
101 d early
2024
35 d early
2023
34 d early
2022
32 d early
2021
23 d early
2020
44 d early
2019
39 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 44 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€357,825▼ 26.2%
2024 · €484,950
Total assets
€598,686▲ 13.8%
2024 · €526,159
Net result
€72,875▲ 6.4%
2024 · €68,507
Working capital
€8,415▼ 90.9%
2024 · €92,065
Trend over the years
In euros
In euros
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€105,833▼ 6.9%€62,279▼ 41.2%€87,219▲ 40.0%€91,343▲ 4.7%€97,174▲ 6.4%
Net result€77,553▼ 4.7%€46,330▼ 40.3%€65,407▲ 41.2%€68,507▲ 4.7%€72,875▲ 6.4%
Equity€654,706▲ 13.4%€501,036▼ 23.5%€416,443▼ 16.9%€484,950▲ 16.5%€357,825▼ 26.2%
Total assets€710,592▲ 8.5%€769,510▲ 8.3%€603,218▼ 21.6%€526,159▼ 12.8%€598,686▲ 13.8%
Debt€55,886▼ 28.0%€268,474▲ 380%€186,776▼ 30.4%€41,208▼ 77.9%€240,861▲ 484%
Working capital€251,704▲ 79.0%€16,244▼ 93.5%-€21,514€92,065€8,415▼ 90.9%
Turnover and EBIT margin not published: the abbreviated or micro 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 6% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €598,686
Fixed assets
€385,978 ▼ 10.1%
Current assets
€212,708 ▲ 120%
Equity and liabilities €598,686
Equity
€357,825 ▼ 26.2%
Debt
€240,861 ▲ 484%
Debt's share of the balance-sheet total rises from 7.8% to 40.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€140,649▲
2024 · €134,818
Cash flow
€116,349▲
2024 · €111,982
Current ratio
1.04▼
2024 · 20.84
Debt to equity
0.67▲
2024 · 0.08
ROE
20.4%▲
2024 · 14.1%
ROA
12.2%▼
2024 · 13.0%
Interest coverage
23441.50
Debt ≤ 1 year
€204,294▲
2024 · €4,641
Income taxes
€24,294▲
2024 · €22,836
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,134 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 20,134 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €33,330 | €39,814 | €43,475 | €43,475 | €43,475 | = |
| Other operating charges640/8 | €4,496 | €4,382 | €4,547 | €4,351 | €4,482 | ▲ 3.0% |
| Gross operating margin9900 | €143,659 | €106,474 | €135,240 | €139,169 | €145,131 | ▲ 4.3% |
| Operating profit (loss)9901 | €105,833 | €62,279 | €87,219 | €91,343 | €97,174 | ▲ 6.4% |
| Financial income75/76B | - | - | €1 | €0 | - | - |
| Recurring financial income75 | - | - | €1 | €0 | - | - |
| Financial charges65/66B | €118 | €505 | - | - | €6 | - |
| Recurring financial charges65 | €118 | €505 | - | - | €6 | - |
| Profit (loss) for the period before taxes9903 | €105,715 | €61,774 | €87,220 | €91,343 | €97,168 | ▲ 6.4% |
| Income taxes67/77 | €28,162 | €15,443 | €21,813 | €22,836 | €24,294 | ▲ 6.4% |
| Profit (loss) for the period9904 | €77,553 | €46,330 | €65,407 | €68,507 | €72,875 | ▲ 6.4% |
| Profit (loss) for the period to be appropriated9905 | €77,553 | €46,330 | €65,407 | €68,507 | €72,875 | ▲ 6.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €710,592 | €769,510 | €603,218 | €526,159 | €598,686 | ▲ 13.8% |
| Fixed assets21/28 | €430,723 | €516,402 | €472,927 | €429,452 | €385,978 | ▼ 10.1% |
| Tangible fixed assets22/27 | €430,723 | €516,402 | €472,927 | €429,452 | €385,978 | ▼ 10.1% |
| Land and buildings22 | €430,723 | €516,402 | €472,927 | €429,452 | €385,978 | ▼ 10.1% |
| Current assets29/58 | €279,869 | €253,108 | €130,291 | €96,706 | €212,708 | ▲ 120% |
| Stocks and contracts in progress3 | €71,063 | - | - | - | - | - |
| Stocks30/36 | €71,063 | - | - | - | - | - |
| Amounts receivable within one year40/41 | - | €14,557 | - | €1,148 | €0 | ▼ 100% |
| Trade receivables40 | - | - | - | €1,148 | €0 | ▼ 100% |
| Other amounts receivable41 | - | €14,557 | - | - | - | - |
| Cash at bank and in hand54/58 | €208,806 | €238,551 | €130,291 | €95,558 | €212,708 | ▲ 123% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €710,592 | €769,510 | €603,218 | €526,159 | €598,686 | ▲ 13.8% |
| Equity10/15 | €654,706 | €501,036 | €416,443 | €484,950 | €357,825 | ▼ 26.2% |
| Contributions10/11 | €175,000 | €175,000 | €175,000 | €175,000 | €175,000 | = |
| Capital10 | €175,000 | €175,000 | €175,000 | €175,000 | €175,000 | = |
| Issued capital100 | €175,000 | €175,000 | €175,000 | €175,000 | €175,000 | = |
| Reserves13 | €479,706 | €326,036 | €241,443 | €309,950 | €182,825 | ▼ 41.0% |
| Non-distributable reserves130/1 | €17,500 | €17,500 | €17,500 | €17,500 | €17,500 | = |
| Legal reserve130 | €17,500 | €17,500 | €17,500 | €17,500 | €17,500 | = |
| Distributable reserves133 | €462,206 | €308,536 | €223,943 | €292,450 | €165,325 | ▼ 43.5% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €55,886 | €268,474 | €186,776 | €41,208 | €240,861 | ▲ 484% |
| Amounts payable within one year42/48 | €28,165 | €236,864 | €151,805 | €4,641 | €204,294 | ▲ 4,302% |
| Trade debts44 | - | €8,699 | - | - | - | - |
| Suppliers440/4 | - | €8,699 | - | - | - | - |
| Taxes, remuneration and social security45 | €28,165 | €28,165 | €1,805 | €4,641 | €4,294 | ▼ 7.5% |
| Taxes450/3 | €28,165 | €28,165 | €1,805 | €4,641 | €4,294 | ▼ 7.5% |
| Other amounts payable47/48 | - | €200,000 | €150,000 | €0 | €200,000 | - |
| Accrued charges and deferred income492/3 | €27,721 | €31,610 | €34,971 | €36,568 | €36,568 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €77,553 | €46,330 | €65,407 | €68,507 | €72,875 | ▲ 6.4% |
| + Depreciation and write-downs630 | €33,330 | €39,814 | €43,475 | €43,475 | €43,475 | = |
| Operating cash flow (approximation) | €110,883 | €86,144 | €108,882 | €111,982 | €116,349 | ▲ 3.9% |
| Investment in fixed assets (approximation) | - | -€125,493 | €0 | €0 | €0 | - |
| Change in cash | - | €29,745 | -€108,260 | -€34,734 | €117,151 | ▲ 437% |
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
28-05
State Gazette act
Reappointments: RVM INVEST NV (non-statutory director) and VERO BV (non-statutory director)Permanent representatives: Roeland VANMAERCKE, Veroniek VANMAERCKE and Koen ALLY · Appointment: KA MANAGEMENT BV (non-statutory director)11 facts ▸
State Gazette act
Reappointments: RVM INVEST NV (non-statutory director) and VERO BV (non-statutory director)
Permanent representatives: Roeland VANMAERCKE, Veroniek VANMAERCKE and Koen ALLY · Appointment: KA MANAGEMENT BV (non-statutory director)11 facts ▸
- General meeting, 20-04-2026
- Director reappointment, RVM INVEST NV (non-statutory director)
- Director reappointment, VERO BV (non-statutory director)
- Permanent representative, Roeland VANMAERCKE (permanent representative)
- Permanent representative, Veroniek VANMAERCKE (permanent representative)
- Director appointment, KA MANAGEMENT BV (non-statutory director)
- Permanent representative, Koen ALLY (permanent representative)
- Board meeting, 03-04-2026
- Director reappointment, RVM INVEST NV (managing director)
- Director reappointment, VERO BV (managing director)
- Director appointment, KA MANAGEMENT BV (managing director)
21-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
26-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Liquidity times 24current ratio 20.84
Current ratio from 0.86 to 20.84; short-term debt falls from €151,805 to €4,641.
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
08-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity triplescurrent ratio 9.94
Current ratio from 3.81 to 9.94; short-term debt falls from €50,133 to €28,165.
17-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €81,413 ▲81.1%
Operating result €113,691, net result €81,413, both a record.
31-12
Financial
Liquidity triplescurrent ratio 3.81
Current ratio from 1.10 to 3.81; short-term debt falls from €252,188 to €50,133.
31-12
Financial
Equity above €500,000Eq €577,152 ▲16.4%
3 profitable years in a row build equity to €577,152.
Show earlier events
22-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
22-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 7 acts read
About the unread acts
Of the 7 Belgian State Gazette acts we know for this company, 1 has been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
under verification, last change in 2026
This board is reconstructed from a single act (26068531). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Board 3
KA Management BV
CurrentNon-statutory director · since 20-04-2026 · Legal entity · perm. rep.: Koen ALLY
NV RVM Invest
CurrentNon-statutory director · since 20-04-2026 · Legal entity · perm. rep.: Roeland VANMAERCKE
VERO BV
CurrentNon-statutory director · since 20-04-2026 · Legal entity · perm. rep.: Veroniek VANMAERCKE
Day-to-day management 3
KA Management BV
CurrentManaging director · since 20-04-2026 · Legal entity · perm. rep.: Koen ALLY
NV RVM Invest
CurrentManaging director · since 20-04-2026 · Legal entity · perm. rep.: Roeland VANMAERCKE
VERO BV
CurrentManaging director · since 20-04-2026 · Legal entity · perm. rep.: Veroniek VANMAERCKE
Permanent representatives 3
Koen ALLY
CurrentPermanent representative · since 20-04-2026 · for KA Management BV
Roeland VANMAERCKE
CurrentPermanent representative · since 20-04-2026 · for NV RVM Invest
Veroniek VANMAERCKE
CurrentPermanent representative · since 20-04-2026 · for VERO BV
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
6 of this company's 7 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Oudenaarde · 1 establishment unit since 1995
Ground area
4.1 ha
Building footprint
1.6 ha
Parcel 45508A0129/00N000, Flanders. Linked by address, not a title deed.
16
companies at this address
See who is registered here
1 establishment unit
Westerring 13, 9700 Oudenaarde
since 19952.070.516.963
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45508A0129/00N000 | Flanders | 4.1 ha | 1 · 1.6 ha | - |
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.
Mandate history
3 people since 2026, 3 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| KA Management BV |
|
| NV RVM Invest |
|
| VERO BV |
|
Structure & network
Connections & network
3 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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Identification & contact
Identification
Legal formPublic limited company
Founded11-08-1994
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0453261402
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.