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NORIN

Active
Public limited companyfounded 198937 yrs activeLouizalaan 188, 1050 Brussel, BelgiumKBO/BCE: BE 0437.131.191
Summary

NORIN has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.6m and a net result of €99,406. Equity remains stable across the filed fiscal years (±0.9% per year). The computed 12-month bankruptcy probability is 0.2% (very low).

Risk analysisWatch ReportCompare
NORINActiveChecked score 92/100
Risk analysis ReportCompare

Overview

What they do
Activity not known1 site
How big
€4.9mtotal assets 2025
Equity
€4.6m
Profit
€99,406
Financially healthy?
92 Excellent Checked score 2025
Bankruptcy chance 12 m
0.2%
Who decides
Board
3 members
Holdings
3
Accounts filed 9 d late1 of 7 deeds read
Why 92- Liquidity: current ratio 0.08, cash €1,724, halved+ Size: total assets €4.9m+ Founded in 1989+ Equity €4.6m (93.0% of total assets)Show the evidence

Checked score

Score 2025
92 / 100
Excellent
Probability in this band: under 0.55%
Better than 58% of its sector peers (no NACE code, small)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Strong
Solvency 100=
equity 93.0% of total assets
Liquidity 50=
short-term debt 7.0% · cash 0.0%
Profitability 43+6
return on assets 2.0%
Bankruptcy probability, 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%

About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 11-2024: 0.2% 12-2024: 0.2%▼ -3.2% vs 11-2024 01-2025: 0.2%▲ +1.3% vs 12-2024 02-2025: 0.2%● 0.0% vs 01-2025 03-2025: 0.2%▲ +12.3% vs 02-2025 04-2025: 0.2%▲ +21.3% vs 03-2025 05-2025: 0.3%▲ +18.5% vs 04-2025 06-2025: 0.3%▲ +15.6% vs 05-2025 07-2025: 0.3%▲ +5.5% vs 06-2025 08-2025: 0.3%● 0.0% vs 07-2025 09-2025: 0.3%● 0.0% vs 08-2025 10-2025: 0.3%● 0.0% vs 09-2025 11-2025: 0.3%● 0.0% vs 10-2025 12-2025: 0.3%● 0.0% vs 11-2025 01-2026: 0.3%● 0.0% vs 12-2025 02-2026: 0.3%● 0.0% vs 01-2026 03-2026: 0.3%▲ +3.9% vs 02-2026highest value 04-2026: 0.1%▼ -74.4% vs 03-2026 05-2026: 0.1%▼ -4.9% vs 04-2026lowest value 06-2026: 0.1%▲ +57.1% vs 05-2026 07-2026: 0.2%▲ +93.4% vs 06-2026 08-2026: 0.2%▼ -34.2% vs 07-2026 09-2026: 0.2%● 0.0% vs 08-2026 10-2026: 0.2%● 0.0% vs 09-2026
  • Liquidity: current ratio 0.08, cash €1,724, halved raises the probability
  • Size: total assets €4.9m lowers the probability for this profile
  • Founded in 1989 lowers the probability for this profile
  • Equity €4.6m (93.0% of total assets) lowers the probability
Credit up to €420,000 at 30 days acceptable
Liquidity short (current ratio 0.08 against 0.08 in 2024; short-term debt: 7% and cash: 0% of total assets), and 7% 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 (no NACE code, small). Better than this share of them on solvency 82%, liquidity 45%, profitability 47%, growth against the median 59%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610020317, computed on 02-10-2026. 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.

Credit check for your own amount and term

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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Liquidity: current ratio 0.08, cash €1,724, halved
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
lowers risk · Size: total assets €4.9m
In the bankruptcy model this factor lowers the probability for this profile.
NBB · annual accounts
lowers risk · Founded in 1989
In the bankruptcy model this factor lowers the probability for this profile.
KBO
lowers risk · Equity €4.6m (93.0% of total assets)
In the bankruptcy model this factor lowers the probability.
NBB · annual accounts
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 30-11-2025 was due by 30-06-2026 and was filed on 09-07-2026, 9 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
9 d late
2024
20 d early
2023
26 d early
2022
4 d early
2021
25 d late
2020
54 d late
2019
42 d late
← before the deadline after the deadline →
tick = median of all Belgian filings

This company filed its last 7 accounts on average 11 days after 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 30-11-2026 and is due by 30-06-2027. Nothing is late today. Usually files around 26 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
02-10-2026 today30-11-2026 close30-06-2027 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. Appointments: Olivier Reynders, Audrey Reynders and…Power of attorney
  2. Annual accounts filedfiscal year 2025 · full…
  3. Back to profitnet €99,406

Key points

  • Positive: Back in profit in 2025after -€6,269 in 2024 €99,406 View
  • New directorslatest change 13-05-2026 · 3 in office 3 joined View
  • Heads a groupcompanies controlled 3 View

By topic

Financials

Fiscal year
2025
Total assets
€4.9m
Profit
€99,406
Solvency
93.0%
Total assets▼ 0.2%
Net result
20182025
Go to Financials

Timeline

Events
16
Since
2017
Next accounts
by 30-06-2027
  1. 21-09-2026Appointments: Olivier Reynders, Audrey Reynders and Julien…
  2. 09-07-2026Annual accounts filed
  3. 30-11-2025Back to profit
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Founded
23-03-1989
Year ends
30-11
Peppol
Reachable for e-invoices
Go to Company details

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