NORTH SEA PAINTS
ActiveNORTH SEA PAINTS has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €734k and a net result of €49k. Equity is growing by ~6.4% per year across the filed fiscal years. Its solvency ranks better than 95% of 7971 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
84
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability77▼-3
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60k at 30 days acceptable
short-term debt: 0.3% and cash: 18.4% of total assets, and 0.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
99.7%
Return on assets
6.6%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
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 filingsDeviation from the deadline
2025
4 d early
2024
18 d late
2023
16 d early
2022
11 d late
2021
3 d early
2020
3 d early
2019
3 d early
← before the deadline
after the deadline →
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
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€734k▲ 7.1%
2024 · €685k
2018: €454k
2019: €508k
2020: €751k
2021: €715k
2022: €594k
2023: €621k
2024: €685k
2018 → 2025
Total assets
€736k▲ 2.3%
2024 · €719k
2018: €1.96M
2019: €685k
2020: €1.09M
2021: €3.17M
2022: €918k
2023: €742k
2024: €719k
2018 → 2025
Net result
€49k▼ 23.5%
2024 · €64k
2018: €72k
2019: €54k
2020: €243k
2021: €-36k
2022: €-122k
2023: €27k
2024: €64k
2018 → 2025
Working capital
€477k▲ 21.6%
2024 · €393k
2018: €309k
2019: €344k
2020: €412k
2021: €-1.88M
2022: €354k
2023: €390k
2024: €393k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€715k-€594k▼ 17.0%€621k▲ 4.6%€685k▲ 10.2%€734k▲ 7.1%
Operating result€-31k-€-78k▼ 147%€26k€26k▲ 0.9%€66k▲ 150%
Net result€-36k-€-122k▼ 242%€27k€64k▲ 132%€49k▼ 23.5%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 150% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €736k
Fixed assets
€256k▼ 12.3%
Current assets
€480k▲ 12.4%
Equity and liabilities €736k
Equity
€734k▲ 7.1%
Debt
€2k▼ 93.1%
The debt ratio falls from 4.8% to 0.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€107k▲
2024 · €66k
Cash flow
€89k▼
2024 · €103k
Solvency
99.7%▲
2024 · 95.2%
Debt / equity
0.00▼
2024 · 0.05
ROE
6.6%▼
2024 · 9.3%
ROA
6.6%▼
2024 · 8.9%
Interest coverage
143.47▲
2024 · 107.46
Debt
€2k▼
2024 · €34k
Debt ≤ 1 year
€2k▼
2024 · €34k
Income taxes
€17k▼
2024 · €49k
A ratio outside any meaningful range has been withheld (balance sheet total €736k, equity €734k).
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€719k€736k▲
Fixed assets21/28€292k€256k▼
Tangible fixed assets22/27€287k€251k▼
Land and buildings22€258k€225k▼
Other tangible fixed assets26€29k€27k▼
Financial fixed assets28€5k€5k=
Current assets29/58€427k€480k▲
Amounts receivable within one year40/41€220k€344k▲
Trade receivables40-€24k
Other amounts receivable41€220k€321k▲
Cash at bank and in hand54/58€207k€136k▼
Equity and liabilities
Total equity and liabilities10/49€719k€736k▲
Equity10/15€685k€734k▲
Contributions10/11€19k€19k=
Reserves13€288k€288k=
Tax-exempt reserves132€56k€56k=
Distributable reserves133€232k€232k=
Profit (loss) carried forward14€378k€427k▲
Amounts payable17/49€34k€2k▼
Amounts payable within one year42/48€34k€2k▼
Trade debts44€34k€776▼
Suppliers440/4€34k€776▼
Taxes, remuneration and social security45-€2k
Taxes450/3-€2k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€40k€41k▲
Other operating charges640/8€26k€9k▼
Gross operating margin9900€92k€116k▲
Operating profit (loss)9901€26k€66k▲
Financial income75/76B€3k-
Recurring financial income75€3k-
Financial charges65/66B€614€744▲
Recurring financial charges65€614€744▲
Profit (loss) for the period before taxes9903€29k€65k▲
Transfer from deferred taxes780€84k-
Income taxes67/77€49k€17k▼
Profit (loss) for the period9904€64k€49k▼
Transfer from tax-exempt reserves789€252k-
Profit (loss) for the period to be appropriated9905€315k€49k▼
Appropriation of the result
Profit (loss) to be appropriated9906€378k€427k▲
Profit (loss) brought forward from the previous period14P€63k€378k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Liquidity times 16current ratio 202.37
Current ratio from 12.47 to 202.37; short-term debt falls from €34k to €2k.
18-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 18 days late
2024
15-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €27k
Net result €27k after 2 loss-making years.
31-12
Financial
Liquidity quadruplescurrent ratio 11.60
Current ratio from 2.58 to 11.60; short-term debt falls from €224k to €37k.
11-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 11 days late
2022
31-12
Financial
Weakest financial yearnet €-122k
Net result drops to €-122k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 14current ratio 2.58
Current ratio from 0.19 to 2.58; short-term debt falls from €2.31M to €224k.
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €243k ▲350%
Operating result €321k, net result €243k, both a record.
28-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Liquidity times 7current ratio 8.37
Current ratio from 1.23 to 8.37; short-term debt falls from €1.34M to €47k.
31-12
Financial
Equity above €500kEq €508k ▲11.9%
2 profitable years in a row build equity to €508k.
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Oostende · 1 establishment unit since 2016
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Heerweg 108400 OostendeGround area
6,105 m²
Building footprint
2,680 m²
Volume, LiDAR
60 m³
Parcel 35391B0614/00L000, Flanders · tallest building 1.2 m. Linked by address, not a title deed.
1 establishment unit
NORTH SEA PAINTS
since 20162.257.813.768
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35391B0614/00L000 | Flanders | 6,105 m² | 1 · 2,679 m² | 1.2 m |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
Imarco België
BE 0701.912.190
Hasselt · Eq €732k
Chauffage Coussement
BE 0400.077.785
Gent · Eq €731k
WAVIN BELGIUM
BE 0405.062.397
Temse · Eq €730k
G.V. PRODUCTS
BE 0463.885.276
Riemst · Eq €738k
HALFEN
BE 0401.906.236
Schoten · Eq €739k
Of 1,803 companies in sector 46831 we hold annual accounts for 1,397. 1,027 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded16-05-1990
Fiscal year end31-12
Activities, NACEBEL
46831Wholesale of construction materials, general range
51532
Sources
Crossroads Bank for EnterprisesNational Bank · 35 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.