Equity
-€1.7m
Debts exceed assets in financial year 2025.
NORM
Part of the group
36 companies in 6 countries
Lifetime
20 annual accounts with figures on one time axis, 42 filings since 1984peak €7.3m (2009)
€3.1m▼ 7.8%
lowest -€2.0m (2020)
-€23,362▼ €326,917
peak €681,225 (2012)
-€1.7m▼ €23,362
€3.3m▲ 6.4%
peak 45.5 FTE (2009)
19.4 FTE▲ 1.0%
Board11 names since 2001
4 directors and 3 others
Owners8 names in the annual accountsall names
100% and 1 other
Documentsfilings and deeds
13-08-202613 days late
2025financial year
Loss of €23,362Cash from €10,041 to €61,587
Key points
from the 2025 annual accountsResult
-€23,362 -€23,362
From profit to loss in 2025, after a profit of €303,554 in 2024.
Debts
€3.3m 205% of the balance sheet
Financial debts 27%Suppliers 12%Taxes and wages 4%Other 56%
Of this, €3.1m falls due within a year.
Staff
19.4 FTE from 45.5 in 2009
Between 2009 and 2025, 57% of the full-time equivalents disappeared.
Payment terms
73 days to suppliers
NORM pays its suppliers 84 days earlier than in 2024. Customers pay 16 days later.
Position in the sector
-104.6%
Lower solvency than 95% of companies in furniture. Sector median 42.6% · 66 companies.
2025 accounts filed 13 days after the deadline
Checked score
Bankruptcy probability within 12 months
Financial strength
Score breakdown
Comparable companies, two years later
In July 2024, 1,240 companies had the same profile as NORM has now. Each dot stands for 4 companies, two years later.
92.7%
were still trading
4.0%
stopped another way
1.9%
went bankrupt
Another 1.4% stopped without a precise date, possibly only after those two years.
Test of the method
The method was tested on the 497,331 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,240 companies, not a prediction for NORM. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
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Signals
Board and ownership
Chair,
Director, , since 01-06-2001
Director, , since 01-06-2001
Director, , since 01-01-2026
Auditor
- 100%score equity €6.5m (2025) · 2025 annual accounts of
Recent changes
1 director appointed, 1 resignation
Resignation: · Appointment: · Permanent representative: · General meeting of 23-12-2025 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0425288481
Registered office moved within Kortrijk
New registered office: Brugsesteenweg 163, 8500 KORTRIJK · Previous registered office: Lijnwaadstraat 37, 8500 Kortrijk, België · Board meeting of 28-06-2024 · Gazette deed
Reappointment: (director)
Permanent representative: · General meeting of 28-06-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| NORM Kortrijk | €3.1m | 1.3% | -104.6% | 19.4 |
| EXTREMIS Poperinge | €10.9m | 3.3% | 64.9% | 24.8 |
| NV VAN HOOF Opwijk | - | - | 85.6% | 13.5 |
| ACTUAL RENOV Binche | - | - | 57.2% | 12.8 |
| ACTUAL PRODUCT Thimister-Clermont | - | - | 48.1% | 7.5 |
| Ambrosia Design Kapellen | - | - | 10.7% | - |
| SPILCO Izegem | - | - | 48.7% | - |
Grey: the largest companies of the sector (furniture (NACE 31)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as NORM: manufacture of furniture (NACE 31009). They are comparable in size and age: total assets between €575,000 and €6.1m, founded between 1978 and 2005.
Official details
Source: KBO- Status
- Active since 23-12-1983Normal situation
- Activity
- Manufacture of furnitureNACE 31009and 1 other
- Joint committee
- 126Furnishing and woodworking · annual accounts 2025
- Establishment unit
- 2.023.808.8898500 Kortrijk, since 23-12-1983
- Financial year end
- 31 December
- Peppol
- Reachable since 19-12-2025
Companies linked to NORM
Parent and group
Insights on NORM
NORM has existed since 1983. Turnover fell from €5.7m in 2006 to €3.1m in 2025 and staff from 42.1 to 19.4 full-time equivalents.
Solvency rose in 2025 from -115.8% to -104.6%.
holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about NORM
- What is the company number of NORM?
- The company number of NORM is 0425.288.481. The VAT number is the same number with BE in front: BE 0425.288.481.
- Where is NORM based?
- The registered office is at Brugsesteenweg 163, 8500 Kortrijk.Company details
- What does NORM do?
- According to the KBO register, the main activity is manufacture of furniture (NACE 31009).
- What is the legal form of NORM?
- NORM is a public limited company (NV).
- When was NORM founded?
- NORM was founded on 23-12-1983.
- Is NORM still active?
- Yes, NORM is an active enterprise in the KBO register.
- How many employees does NORM have?
- NORM had an average of 19.4 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does NORM fall under?
- In its 2025 annual accounts, NORM states joint committee 126 (Furnishing and woodworking).
- What is the turnover of NORM?
- The turnover of NORM was €3.1m in financial year 2025, according to the filed annual accounts.
- Is NORM profitable?
- In financial year 2025, NORM made a loss of €23,362.
- Where can I find the annual accounts of NORM?
- NORM filed 42 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of NORM due?
- NORM must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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