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NORTH BAY

Active
Public limited companyfounded 201511 yrs activeHagedoornlaan 7, 2610 Antwerpen, BelgiumKBO/BCE: BE 0628.737.568
Summary

The annual accounts of NORTH BAY for fiscal year 2025 show a net loss of 51% of the equity at the start of that year. The 2025 annual accounts show equity of €80,888 and a net result of -€85,156. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 14% of 5663 sector peers (fiscal year 2025). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.8% (low).

Risk analysisWatch ReportCompare
NORTH BAYActiveChecked score 54/100
Risk analysis ReportCompare

Overview

Activity
Buying and selling of own real estate
NACE 68110NACE 68100
1 site
Size
€10.5mtotal assets 2025
Equity
€80,888
Loss
-€85,156
Financial health
54 Fair Checked score 2025
Bankruptcy chance 12 m
0.8%
Structure
Parent
EQUINOXE INVESTMENTS NV
Accounts 4 d early1 of 10 deeds read
Why 54Capped at 59: a net loss of at least half of total assets or of the equity at the start of the financial year- Liquidity: current ratio 0.75, cash €14,418- 1 change of registered office in 24 months- 1 of the last 3 late+ Size: total assets €10.5mShow the evidence

Checked score

Score 2025
54 / 100
Fair
Probability in this band: 1.5% to 4.2%
Better than 22% of its sector peers (NACE 68, medium-sized)
Performance against the sector, not lower risk
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59. Every signal that weighs is under Signals.
Financial strength · tick = 2024
Weak
Solvency 26-1
equity 0.8% of total assets
Liquidity 50+19
short-term debt 6.3% · cash 0.1%
Profitability 18=
return on assets -0.8%
Bankruptcy probability, 12 months
0.8% Low
0%0.5%1.5%4%10%≥ 25%

About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.1% (1,717 companies)
Last 24 months 11-2024: 0.4%lowest value 12-2024: 0.4%● 0.0% vs 11-2024lowest value 01-2025: 0.4%● 0.0% vs 12-2024lowest value 02-2025: 0.4%▲ +2.1% vs 01-2025 03-2025: 0.4%▲ +1.8% vs 02-2025 04-2025: 0.4%▼ -2.5% vs 03-2025 05-2025: 0.4%▲ +3.8% vs 04-2025 06-2025: 0.5%▲ +18.8% vs 05-2025 07-2025: 0.5%▲ +2.1% vs 06-2025 08-2025: 0.7%▲ +43.1% vs 07-2025 09-2025: 0.9%▲ +25.4% vs 08-2025 10-2025: 1.5%▲ +63.1% vs 09-2025highest value 11-2025: 1.1%▼ -26.7% vs 10-2025 12-2025: 1.1%● 0.0% vs 11-2025 01-2026: 1.1%● 0.0% vs 12-2025 02-2026: 1.1%● 0.0% vs 01-2026 03-2026: 1.1%▲ +1.5% vs 02-2026 04-2026: 1.0%▼ -3.6% vs 03-2026 05-2026: 1.1%▲ +1.5% vs 04-2026 06-2026: 1.1%▲ +6.9% vs 05-2026 07-2026: 1.0%▼ -8.3% vs 06-2026 08-2026: 0.8%▼ -21.8% vs 07-2026 09-2026: 0.8%● 0.0% vs 08-2026 10-2026: 0.8%● 0.0% vs 09-2026
  • Liquidity: current ratio 0.75, cash €14,418 raises the probability
  • Size: total assets €10.5m lowers the probability for this profile
  • 1 change of registered office in 24 months raises the probability
  • 1 of the last 3 late raises the probability
Credit up to €4,000 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.75 against 0.16 in 2024; short-term debt: 6.3% and cash: 0.1% of total assets), and 99.2% 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 (NACE 68, medium-sized). Better than this share of them on solvency 16%, liquidity 53%, profitability 10%, growth against the median 8%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 05-10-2026. 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.

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Signals

Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Liquidity: current ratio 0.75, cash €14,418
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
lowers risk · Size: total assets €10.5m
In the bankruptcy model this factor lowers the probability for this profile.
NBB · annual accounts
raises risk · 1 change of registered office in 24 months
In the bankruptcy model this factor raises the probability.
Belgian State Gazette
raises risk · 1 of the last 3 late
In the bankruptcy model this factor raises the probability.
NBB · filings
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025
Net result per financial year
1819202122232425
2018 to 2025 · latest year -€85,156
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 5663 sector peers (2025).
NBB · sector comparison
Position among 5663 sector peers
Solvency
better than 14%
← weakest strongest →
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 27-07-2026, 4 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
4 d early
2024
60 d late
2023
27 d early
2022
31 d late
2021
4 d early
2020
29 d early
2019
17 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 6 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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. Usually files around 27 July (4 of the last 5 filed years within 35 days of that day).
Companies Code · seven months
Position in the running window
06-10-2026 today31-12-2026 close31-07-2027 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. Permanent representative: Francis HENDRICКХRegistered-office move
  2. Annual accounts filedfiscal year 2025 · full…
  3. Annual accounts filedfiscal year 2024 · abbreviated…

Key points

  • Risk: 4 loss-making years in a rowloss fiscal year 2025 -€85,156 View
  • Caution: Among the weakest 15% on solvencysector median 38.6% · 5,663 companies 0.8% View
  • Caution: Equity fell in 2025from €166,044 to €80,888 ▼ 51.3% View
  • Controlled by EQUINOXE INVESTMENTS NV parent View

By topic

Financials

Fiscal year
2025
Total assets
€10.5m
Loss
-€85,156
Solvency
0.8%
Total assets▲ 11.2%
Net result
20182025
Go to Financials

Timeline

Events
15
Since
2017
Next accounts
by 31-07-2027
  1. 27-07-2026Permanent representative: Francis HENDRICКХ
  2. 27-07-2026Annual accounts filed
  3. 29-09-2025Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Buying and selling of own real estateNACE 68110
Founded
20-04-2015
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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