NORMELEC SECURITY
ActiveSummary
NORMELEC SECURITY has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €77,342 and a net result of €49,842. Equity is growing by ~5.7% per year across the filed fiscal years. Its solvency ranks better than 64% of 28184 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency85▲+44
Growth52▲+20
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity ample (current ratio 2.37 against 1.16 in 2024; short-term debt: 40% and cash: 38.8% of total assets), and 40% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
60%
Return on assets
38.7%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-09-2026, 49 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
49 d late
2024
18 d late
2023
30 d late
2022
27 d early
2021
17 d late
2020
30 d late
2019
27 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 21 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€49,842▼ 29.7%
2024 · €70,930
Working capital
€70,382▲ 200%
2024 · €23,463
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€51,734▼ 24.9%€26,255▼ 49.3%€62,925▲ 140%€72,904▲ 15.9%€68,396▼ 6.2%
Net result€33,695▼ 50.6%€33,714▲ 0.1%€62,702▲ 86.0%€70,930▲ 13.1%€49,842▼ 29.7%
Equity€64,051▲ 1.1%€71,766▲ 12.0%€74,467▲ 3.8%€27,500▼ 63.1%€77,342▲ 181%
Total assets€201,853▼ 4.5%€161,052▼ 20.2%€169,419▲ 5.2%€176,593▲ 4.2%€128,868▼ 27.0%
Debt€137,802▼ 6.9%€89,286▼ 35.2%€94,951▲ 6.3%€149,093▲ 57.0%€51,525▼ 65.4%
Working capital€54,838▲ 0.5%€64,967▲ 18.5%€71,249▲ 9.7%€23,463▼ 67.1%€70,382▲ 200%
Staff (FTE)3.1▲ 10.7%2.8▼ 9.7%1.8▼ 35.7%1.8=1.3▼ 27.8%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 6% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €128,868
Fixed assets
€6,960 ▲ 72.4%
Current assets
€121,907 ▼ 29.4%
Equity and liabilities €128,868
Equity
€77,342 ▲ 181%
Debt
€51,525 ▼ 65.4%
Debt's share of the balance-sheet total falls from 84.4% to 40.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€69,972▼
2024 · €76,638
Cash flow
€51,419▼
2024 · €74,664
Current ratio
2.37▲
2024 · 1.16
Quick ratio
2.07▲
2024 · 1.03
Debt to equity
0.67▼
2024 · 5.42
ROE
64.4%▼
2024 · 257.9%
ROA
38.7%▼
2024 · 40.2%
Interest coverage
85.84▲
2024 · 62.13
Debt ≤ 1 year
€51,525▼
2024 · €149,093
Income taxes
€18,351▲
2024 · €1,169
Staff costs
€80,880▲
2024 · €77,110
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.7% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 31,324 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €138,317 | €113,129 | €71,990 | €77,110 | €80,880 | ▲ 4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,636 | €3,862 | €3,581 | €3,734 | €1,577 | ▼ 57.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | -€12,935 | -€603 | - | -€576 | €2,613 | ▲ 554% |
| Other operating charges640/8 | €2,423 | €3,925 | €1,302 | €1,695 | €1,830 | ▲ 7.9% |
| Gross operating margin9900 | €183,176 | €146,568 | €139,797 | €154,868 | €155,295 | ▲ 0.3% |
| Operating profit (loss)9901 | €51,734 | €26,255 | €62,925 | €72,904 | €68,396 | ▼ 6.2% |
| Financial income75/76B | €1,138 | €1,994 | €2,665 | €429 | €613 | ▲ 42.8% |
| Recurring financial income75 | €1,138 | €1,994 | €2,665 | €429 | €613 | ▲ 42.8% |
| Financial charges65/66B | €6,159 | €1,171 | €976 | €1,234 | €815 | ▼ 33.9% |
| Recurring financial charges65 | €6,159 | €1,171 | €976 | €1,234 | €815 | ▼ 33.9% |
| Profit (loss) for the period before taxes9903 | €46,714 | €27,077 | €64,613 | €72,100 | €68,193 | ▼ 5.4% |
| Income taxes67/77 | €13,019 | -€6,637 | €1,911 | €1,169 | €18,351 | ▲ 1,469% |
| Profit (loss) for the period9904 | €33,695 | €33,714 | €62,702 | €70,930 | €49,842 | ▼ 29.7% |
| Profit (loss) for the period to be appropriated9905 | €33,695 | €33,714 | €62,702 | €70,930 | €49,842 | ▼ 29.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €201,853 | €161,052 | €169,419 | €176,593 | €128,868 | ▼ 27.0% |
| Fixed assets21/28 | €9,835 | €6,799 | €3,218 | €4,037 | €6,960 | ▲ 72.4% |
| Intangible fixed assets21 | - | - | - | - | €4,389 | - |
| Tangible fixed assets22/27 | €9,635 | €6,599 | €3,018 | €3,837 | €2,371 | ▼ 38.2% |
| Plant, machinery and equipment23 | - | - | - | €1,013 | €807 | ▼ 20.4% |
| Furniture and vehicles24 | €9,635 | €6,599 | €3,018 | €2,824 | €1,565 | ▼ 44.6% |
| Financial fixed assets28 | €200 | €200 | €200 | €200 | €200 | = |
| Current assets29/58 | €192,018 | €154,253 | €166,200 | €172,556 | €121,907 | ▼ 29.4% |
| Stocks and contracts in progress3 | €32,776 | €23,011 | €21,959 | €18,956 | €15,193 | ▼ 19.9% |
| Stocks30/36 | €32,776 | €23,011 | €21,959 | €18,956 | €15,193 | ▼ 19.9% |
| Amounts receivable within one year40/41 | €69,672 | €59,838 | €68,378 | €68,783 | €54,481 | ▼ 20.8% |
| Trade receivables40 | €47,533 | €48,963 | €55,743 | €55,718 | €46,568 | ▼ 16.4% |
| Other amounts receivable41 | €22,139 | €10,875 | €12,635 | €13,065 | €7,913 | ▼ 39.4% |
| Cash at bank and in hand54/58 | €89,570 | €69,524 | €74,118 | €82,176 | €49,969 | ▼ 39.2% |
| Deferred charges and accrued income490/1 | - | €1,880 | €1,745 | €2,641 | €2,264 | ▼ 14.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €201,853 | €161,052 | €169,419 | €176,593 | €128,868 | ▼ 27.0% |
| Equity10/15 | €64,051 | €71,766 | €74,467 | €27,500 | €77,342 | ▲ 181% |
| Contributions10/11 | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Reserves13 | €2,500 | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Non-distributable reserves130/1 | €2,500 | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Reserves not available under the articles1311 | €2,500 | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Profit (loss) carried forward14 | €36,551 | €44,266 | €46,967 | - | €49,842 | - |
| Amounts payable17/49 | €137,802 | €89,286 | €94,951 | €149,093 | €51,525 | ▼ 65.4% |
| Amounts payable after more than one year17 | €622 | - | - | - | - | - |
| Financial debts170/4 | €622 | - | - | - | - | - |
| Amounts payable within one year42/48 | €137,180 | €89,286 | €94,951 | €149,093 | €51,525 | ▼ 65.4% |
| Current portion of amounts payable after more than one year42 | €3,733 | €622 | - | - | - | - |
| Financial debts43 | €6,000 | €6,000 | - | - | - | - |
| Credit institutions430/8 | €6,000 | €6,000 | - | - | - | - |
| Trade debts44 | €61,270 | €14,132 | €15,087 | €10,831 | €16,455 | ▲ 51.9% |
| Suppliers440/4 | €61,270 | €14,132 | €15,087 | €10,831 | €16,455 | ▲ 51.9% |
| Taxes, remuneration and social security45 | €32,985 | €13,773 | €18,089 | €19,693 | €23,215 | ▲ 17.9% |
| Taxes450/3 | €7,832 | - | €3,274 | €2,284 | €13,351 | ▲ 485% |
| Remuneration and social security454/9 | €25,154 | €13,773 | €14,814 | €17,410 | €9,864 | ▼ 43.3% |
| Other amounts payable47/48 | €33,191 | €54,760 | €61,775 | €118,568 | €11,855 | ▼ 90.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €33,695 | €33,714 | €62,702 | €70,930 | €49,842 | ▼ 29.7% |
| + Depreciation and write-downs630 | €3,636 | €3,862 | €3,581 | €3,734 | €1,577 | ▼ 57.8% |
| Operating cash flow (approximation) | €37,331 | €37,576 | €66,282 | €74,664 | €51,419 | ▼ 31.1% |
| Investment in fixed assets (approximation) | - | -€826 | €0 | -€4,552 | -€4,500 | ▲ 1.1% |
| Change in cash | - | -€20,046 | €4,594 | €8,058 | -€32,206 | ▼ 500% |
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
18-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 49 days late
2025
31-12
Financial
Liquidity doublescurrent ratio 2.37
Current ratio from 1.16 to 2.37; short-term debt falls from €149,093 to €51,525.
18-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 18 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 30 days late
2023
04-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
17-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 17 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 30 days late
2020
27-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 27 days late
2019
31-12
Financial
Weakest financial yearnet €32,473 ▼70.6%
Net result drops to €32,473, the lowest in the series; recovery starts the following year.
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
17-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 17 days late
2017
17-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 17 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Mons · 1 establishment unit since 2003
Ground area
4,894 m²
Building footprint
121 m²
Volume, LiDAR
741 m³
Parcel 53038B0914/00A002, Wallonia · tallest building 8.1 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
NORMELEC SECURITY
since 20032.126.847.437
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 53038B0914/00A002 | Wallonia | 4,894 m² | 1 · 121 m² | 8.1 m · 2 fl. |
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.
Recognitions · licences · registrations
Recognised contractor
1 categoryNORMELEC SECURITY SRL31548
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Of 22,831 companies in sector 43211 we hold annual accounts for 10,329. 8,793 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded11-03-2003
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
27402Manufacture of electrical equipment
43240Other construction installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0479723990
Also
9925:BE0479723990
Registered
08-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.