Summary
NORWIN is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €3.95M and a net result of €101k. Equity remains stable across the filed fiscal years (±1.8% per year). Its solvency ranks better than 95% of 5547 sector peers (fiscal year 2025). The company has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 12-08-2026, 12 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
12 d late
2024
26 d late
2023
21 d late
2022
31 d late
2021
31 d late
2020
58 d late
2019
77 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€3.95M▲ 0.6%
2024 · €3.93M
Net result
€101k▼ 1.4%
2024 · €103k
Total assets
€3.96M▲ 0.4%
2024 · €3.95M
Solvency
99.7%▲ 0.2pp
2024 · 99.5%
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€95k▼ 0.7%€102k▲ 7.7%€89k▼ 12.7%€89k▲ 0.1%€100k▲ 12.3%
Net result€69k▼ 49.0%€120k▲ 73.4%€102k▼ 14.9%€103k▲ 1.1%€101k▼ 1.4%
Equity€3.72M▼ 0.1%€3.81M▲ 2.4%€3.86M▲ 1.4%€3.93M▲ 1.8%€3.95M▲ 0.6%
Total assets€3.80M▼ 0.1%€3.89M▲ 2.1%€3.88M▼ 0.3%€3.95M▲ 1.9%€3.96M▲ 0.4%
Debt€30k▼ 8.1%€23k▼ 23.3%€12k▼ 46.3%€19k▲ 53.0%€10k▼ 45.0%
Working capital€160k▼ 1.6%€248k▲ 55.0%€249k▲ 0.2%€317k▲ 27.5%€340k▲ 7.0%
Solvency97.9%▲ 0.1pp98.1%▲ 0.2pp99.7%▲ 1.6pp99.5%▼ 0.2pp99.7%▲ 0.2pp
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 2023 the operating result has climbed two years in a row; 2025 is 12% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.96M
Fixed assets
€3.61M =
Current assets
€350k ▲ 4.2%
Equity and liabilities €3.96M
Equity
€3.95M ▲ 0.6%
Debt
€10k ▼ 45.0%
Debt's share of the balance-sheet total falls from 0.5% to 0.3%. Equity is higher and debt is lower.
Key figures and ratios
ROE
2.6%▼
2024 · 2.6%
ROA
2.6%▼
2024 · 2.6%
Debt ≤ 1 year
€10k▼
2024 · €19k
Income taxes
€31k▲
2024 · €29k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | €-51k | €0 | - | - |
| Other operating charges640/8 | €1k | €1k | €1k | €1k | €1k | ▲ 2.9% |
| Gross operating margin9900 | €96k | €103k | €39k | €91k | €102k | ▲ 12.2% |
| Operating profit (loss)9901 | €95k | €102k | €89k | €89k | €100k | ▲ 12.3% |
| Financial income75/76B | - | €50k | €41k | €42k | €32k | ▼ 24.4% |
| Recurring financial income75 | - | €50k | €41k | €42k | €32k | ▼ 24.4% |
| Financial charges65/66B | €67 | €69 | €69 | €65 | €67 | ▲ 2.0% |
| Recurring financial charges65 | €67 | €69 | €69 | €65 | €67 | ▲ 2.0% |
| Profit (loss) for the period before taxes9903 | €95k | €152k | €130k | €132k | €132k | ▲ 0.5% |
| Income taxes67/77 | €26k | €33k | €28k | €29k | €31k | ▲ 7.4% |
| Profit (loss) for the period9904 | €69k | €120k | €102k | €103k | €101k | ▼ 1.4% |
| Profit (loss) for the period to be appropriated9905 | €69k | €120k | €102k | €103k | €101k | ▼ 1.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.80M | €3.89M | €3.88M | €3.95M | €3.96M | ▲ 0.4% |
| Fixed assets21/28 | €3.61M | €3.61M | €3.61M | €3.61M | €3.61M | = |
| Financial fixed assets28 | €3.61M | €3.61M | €3.61M | €3.61M | €3.61M | = |
| Current assets29/58 | €190k | €271k | €261k | €336k | €350k | ▲ 4.2% |
| Amounts receivable within one year40/41 | - | - | €85 | €0 | - | - |
| Other amounts receivable41 | - | - | €85 | €0 | - | - |
| Cash at bank and in hand54/58 | €190k | €271k | €261k | €336k | €350k | ▲ 4.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.80M | €3.89M | €3.88M | €3.95M | €3.96M | ▲ 0.4% |
| Equity10/15 | €3.72M | €3.81M | €3.86M | €3.93M | €3.95M | ▲ 0.6% |
| Contributions10/11 | €2.53M | €2.53M | €2.53M | €2.53M | €2.53M | = |
| Reserves13 | €1.20M | €1.29M | €1.34M | €1.41M | €1.43M | ▲ 1.6% |
| Non-distributable reserves130/1 | €54k | €54k | €54k | €0 | - | - |
| Reserves not available under the articles1311 | €54k | €54k | €54k | €0 | - | - |
| Distributable reserves133 | €1.14M | €1.23M | €1.28M | €1.41M | €1.43M | ▲ 1.6% |
| Profit (loss) carried forward14 | - | - | €0 | €0 | €0 | - |
| Provisions and deferred taxes16 | €51k | €51k | €0 | - | - | - |
| Provisions for liabilities and charges160/5 | €51k | €51k | €0 | - | - | - |
| Pensions and similar obligations160 | €51k | - | - | - | - | - |
| Other liabilities and charges164/5 | - | €51k | €0 | - | - | - |
| Amounts payable17/49 | €30k | €23k | €12k | €19k | €10k | ▼ 45.0% |
| Amounts payable within one year42/48 | €30k | €23k | €12k | €19k | €10k | ▼ 45.0% |
| Trade debts44 | €1k | €989 | €1k | €1k | €1k | ▼ 26.4% |
| Suppliers440/4 | €1k | €989 | €1k | €1k | €1k | ▼ 26.4% |
| Taxes, remuneration and social security45 | €29k | €21k | €11k | €17k | €9k | ▼ 46.6% |
| Taxes450/3 | €29k | €21k | €9k | €17k | €9k | ▼ 46.6% |
| Remuneration and social security454/9 | - | - | €2k | €0 | - | - |
| Other amounts payable47/48 | - | €225 | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €69k | €120k | €102k | €103k | €101k | ▼ 1.4% |
| Operating cash flow (approximation) | €69k | €120k | €102k | €103k | €101k | ▼ 1.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €81k | €-10k | €75k | €14k | ▼ 81.4% |
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
12-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 12 days late
2025
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 26 days late
2024
21-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 21 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
27-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 58 days late
2020
31-12
Financial
Highest result since 2018net €135k ▲81.6%
Net result €135k, the highest in the series.
31-12
Financial
Liquidity times 5current ratio 6.06
Current ratio from 1.29 to 6.06; short-term debt falls from €93k to €32k.
16-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 77 days late
2019
31-12
Financial
Liquidity triplescurrent ratio 1.29
Current ratio from 0.49 to 1.29.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Bredene · 1 establishment unit since 2004
Ground area
177 m²
Building footprint
254 m²
Volume, LiDAR
1,671 m³
Parcel 35302C0402/00V003, Flanders · tallest building 12.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
NORWIN
since 20042.135.717.393
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35302C0402/00V003 | Flanders | 177 m² | 1 · 254 m² | 12.9 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.
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Of 24,730 companies in sector 64210 we hold annual accounts for 19,772. 8,878 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
Founded17-02-2004
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
70200Business and other management consultancy
74301Translation services
82100Office administrative and support services
Scores and ratios are computed by Checked and are not a credit decision.