Parent and group
- STAR100%
NORTH SEA EXPRESS
ActiveSummary
NORTH SEA EXPRESS has been active since 1966 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6.9m and a net result of -€514,088. Equity has been stable since 2018 (±1.7% per year). Its solvency ranks better than 51% of 1,081 sector peers (NACE 49, financial year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Overview
Official details
Source: KBO- Status
- Active since 19-08-1966 Normal situation
- Activity
- Freight transport by road NACE 49410and 4 others
- Joint committees
- 140.03 Paritair Subcomité voor het wegvervoer en de logistiek voor rekening van derden
- 226 Paritair Comité voor de bedienden uit de internationale handel, het vervoer en de logistiek · annual accounts 2025
- Establishment units
- 2.032.810.390 8380 Brugge, since 01-04-1987
- 2.200.539.921 8380 Brugge, since 01-01-2010
- Financial year end
- 31 December
- Peppol
- Reachable since 09-09-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.8%
Annual accounts 2025
- Turnover
- €24.0m
- ▲ 5.1%
- Loss
- €514,088
- ▼ 62.1%
- Equity
- €6.9m
- ▼ 7.0%
- Total assets
- €16.6m
- =
- Employees on 31-12-2025
- 61
- ▲ 3.4%
Score breakdownraises riskSector: Land transport and transport via pipelines (NACE 49)Liquidity: current ratio 1.04, cash €772,6351 of the last 3 accounts latelowers riskFounded in 1966Show the evidence
Checked score
Score 2025
68
/ 100
Healthy
Probability in this band: 0.55% to 1.5%
Financially stronger than 48% of medium-sized companies in land transport (NACE 49)
Financial strength · tick: 2024
Average
Solvency
66-3
equity 41.3% of total assets
Liquidity
37-4
short-term debt 40.8% · cash 4.6%
Profitability
60+7
return on assets -3.1%
Bankruptcy probability within 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).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025lowest value
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.3%▲ +0.1 percentage points vs 06-2025
08-2025: 0.4%▲ +0.1 percentage points vs 07-2025
09-2025: 0.5%▲ +0.1 percentage points vs 08-2025
10-2025: 1.3%▲ +0.8 percentage points vs 09-2025highest value
11-2025: 1.3%● unchanged vs 10-2025highest value
12-2025: 1.3%● unchanged vs 11-2025highest value
01-2026: 1.3%● unchanged vs 12-2025highest value
02-2026: 1.2%▼ -0.1 percentage points vs 01-2026
03-2026: 1.2%● unchanged vs 02-2026
04-2026: 1.2%● unchanged vs 03-2026
05-2026: 1.2%● unchanged vs 04-2026
06-2026: 1.3%▲ +0.1 percentage points vs 05-2026
07-2026: 1.2%▼ -0.1 percentage points vs 06-2026
08-2026: 0.8%▼ -0.4 percentage points vs 07-2026
09-2026: 0.8%● unchanged vs 08-2026
10-2026: 0.8%● unchanged vs 09-2026
11-2026: 0.8%● unchanged vs 10-2026
Credit of up to €460,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.04 (1.14 in 2024), below the usual 1.5. Short-term debt is 40.8% and cash 4.6% of total assets. 58.7% of the assets are financed with debt and provisions.
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 49, medium-sized). It does better than 65% of them on solvency, 50% on liquidity, 35% on profitability and 43% on growth.
The bankruptcy probability was computed on 01-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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Signals
Six signals.
lowers riskraises riskneutral
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 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€514,088
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 20-07-2026, 11 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
11 days early
2024
60 days late
2023
21 days early
2022
12 days early
2021
6 days early
2020
2 days early
2019
4 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 1 day after the deadline. In the sector (NACE 49), the median for financial year 2024 was on the deadline day, and 49% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 20 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
02-11-2026 today31-12-2026 year end31-07-2027 deadline
Key points
- Caution: Lower net result than 94% of companies in land transportsector median €48,737 · 1,079 companies -€514,088 View
- Positive: Result rose in 2025from -€1.4m to -€514,088 ▲ 62.1% View
- Caution: 2 loss-making years in a rowloss in financial year 2025 -€514,088 View
- Flemish supportawarded from 2022 to 2025 €276,065 View
Recent changes
- · Gazette deed Permanent representative: Dirk CallantReappointment: Moore Audit BV (statutory auditor)
Companies linked to NORTH SEA EXPRESS
Comparable companies
These companies have the same main activity as NORTH SEA EXPRESS: freight transport by road (NACE 49410). They are comparable in size and age: total assets between €10m and €25m, founded between 1964 and 1977.
| Company | Total assets | Turnover |
|---|---|---|
| NORTH SEA EXPRESS Brugge | €16.6m | €24.0m |
| AERTSSEN TRANSPORT Stabroek | €17.2m | €21.3m |
| GARSOU-ANGENOT Thimister-Clermont | €17.7m | €16.4m |
| Macotruck Brugge | €10.2m | €12.4m |
| VERHELST LOGISTICS Oudenburg | €16.2m | €17.5m |
| Transport Vanneste Zwevegem | €24.7m | €17.6m |
| Transport De Rese Brugge | €10.3m | €18.1m |
Key facts about NORTH SEA EXPRESS
- What is the company number of NORTH SEA EXPRESS?
- The company number of NORTH SEA EXPRESS is 0401.172.105. The VAT number is the same number with BE in front: BE 0401.172.105.
- Where is NORTH SEA EXPRESS based?
- The registered office is at Koggenstraat 2, 8380 Brugge.Company details
- What does NORTH SEA EXPRESS do?
- According to the KBO register, the main activity is freight transport by road (NACE 49410).
- What is the legal form of NORTH SEA EXPRESS?
- The legal form of NORTH SEA EXPRESS is Public limited company (NV).
- When was NORTH SEA EXPRESS founded?
- NORTH SEA EXPRESS was founded on 19-08-1966.
- Is NORTH SEA EXPRESS still active?
- Yes, NORTH SEA EXPRESS is an active enterprise in the KBO register.
- How many employees does NORTH SEA EXPRESS have?
- NORTH SEA EXPRESS had an average of 58.9 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does NORTH SEA EXPRESS fall under?
- In its 2025 annual accounts, NORTH SEA EXPRESS states joint committees 140.03 (Paritair Subcomité voor het wegvervoer en de logistiek voor rekening van derden) and 226 (Paritair Comité voor de bedienden uit de internationale handel, het vervoer en de logistiek).
- What is the turnover of NORTH SEA EXPRESS?
- The turnover of NORTH SEA EXPRESS was €24.0m in financial year 2025, according to the filed annual accounts.
- Is NORTH SEA EXPRESS profitable?
- In financial year 2025, NORTH SEA EXPRESS made a loss of €514,088.
- Where can I find the annual accounts of NORTH SEA EXPRESS?
- NORTH SEA EXPRESS filed 48 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of NORTH SEA EXPRESS due?
- NORTH SEA EXPRESS must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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