Novus Underwriting Europe

Active

Private limited companyfounded 20206 yrs activeLouizalaan 65/11, 1050 Elsene, BelgiumKBO/BCE: BE 0749.907.988

Novus Underwriting Europe is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €3.14M and a net result of €1.09M. Equity is growing by ~70.5% per year across the filed fiscal years. Its solvency ranks better than 19% of 1420 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.

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Signals

Four signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 1420 sector peers (2024).

NBB · sector comparison

Position among 1420 sector peers

Solvency

better than 19%

← weakest strongest →

Annual accounts not filed

The financial year that closed on 30-06-2025 was due at the National Bank by 31-01-2026. Nothing is on record, 227 days later.

NBB · 5 filings

Position against the passed deadline

30-06-2025 close31-01-2026 deadline15-09-2026 today

Filed more than 90 days late

The financial year that closed on 30-06-2024 was due by 31-01-2025 and was filed on 04-12-2025, 307 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.

NBB · 5 filings

Deviation from the deadline

2025

not filed

2024

307 d late

2023

258 d late

2022

87 d late

2021

23 d late

2020

89 d late

← before the deadline after the deadline →

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

Financials · fiscal year 2024, abbreviated schema

Equity

€3.14M▲ 53.0%

2023 · €2.05M

2020: €-121 2021: €388k 2022: €1.14M 2023: €2.05M

2020 → 2024

Net result

€1.09M▲ 20.2%

2023 · €904k

2020: €-10k 2021: €388k 2022: €757k 2023: €904k

2020 → 2024

Total assets

€28.84M▲ 38.9%

2023 · €20.77M

2020: €10k 2021: €6.44M 2022: €9.96M 2023: €20.77M

2020 → 2024

Solvency

10.9%▲ 1.0pp

2023 · 9.9%

2020: -1.2% 2021: 6.0% 2022: 11.5% 2023: 9.9%

2020 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€-121-€388k€1.14M▲ 195%€2.05M▲ 79.0%€3.14M▲ 53.0%

Operating result€-10k-€510k€997k▲ 95.6%€1.61M▲ 61.6%€1.47M▼ 8.4%

Net result€-10k-€388k€757k▲ 95.1%€904k▲ 19.5%€1.09M▲ 20.2%

Turnover and EBIT margin not published: the abbreviated schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result falls in 2024; 2024 is 8% below 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €28.84M

100.0%

Fixed assets €3k

Current assets €28.84M

Equity and liabilities €28.84M

11%

89.1%

Equity €3.14M▲ 53.0%

Debt €25.70M▲ 37.3%

The debt ratio falls from 90.1% to 89.1%: equity grows faster than debt.

Key figures and ratios

2024 value · change against 2023

Solvency

10.9%▲

2023 · 9.9%

ROE

34.7%▼

2023 · 44.1%

ROA

3.8%▼

2023 · 4.4%

Debt

€25.70M▲

2023 · €18.72M

Debt ≤ 1 year

€25.47M▲

2023 · €18.48M

Income taxes

€396k▲

2023 · €352k

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 · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€20.77M€28.84M▲

Fixed assets21/28-€3k

Financial fixed assets28-€3k

Current assets29/58€20.77M€28.84M▲

Amounts receivable within one year40/41€14.69M€20.53M▲

Trade receivables40€14.68M€7.13M▼

Other amounts receivable41€6k€13.40M▲

Cash at bank and in hand54/58€4.74M€7.24M▲

Deferred charges and accrued income490/1€1.35M€1.07M▼

Equity and liabilities

Total equity and liabilities10/49€20.77M€28.84M▲

Equity10/15€2.05M€3.14M▲

Contributions10/11€10k€10k=

Profit (loss) carried forward14€2.04M€3.13M▲

Amounts payable17/49€18.72M€25.70M▲

Amounts payable within one year42/48€18.48M€25.47M▲

Trade debts44€10.85M€14.22M▲

Suppliers440/4€10.85M€14.22M▲

Taxes, remuneration and social security45€605k€731k▲

Taxes450/3€605k€731k▲

Other amounts payable47/48€7.02M€10.52M▲

Accrued charges and deferred income492/3€242k€234k▼

Income statement Code20232024

Other operating charges640/8€968€5k▲

Gross operating margin9900€1.61M€1.48M▼

Operating profit (loss)9901€1.61M€1.47M▼

Financial income75/76B€0€78k▲

Recurring financial income75€0€78k▲

Financial charges65/66B€354k€70k▼

Recurring financial charges65€354k€70k▼

Profit (loss) for the period before taxes9903€1.26M€1.48M▲

Income taxes67/77€352k€396k▲

Profit (loss) for the period9904€904k€1.09M▲

Profit (loss) for the period to be appropriated9905€904k€1.09M▲

Appropriation of the result

Profit (loss) to be appropriated9906€2.04M€3.13M▲

Profit (loss) brought forward from the previous period14P€1.13M€2.04M▲

The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 11Financial 5Gazette 1Filings 5

2026

02-09

State Gazette act General meeting · Auditor reappointment

General meeting · Auditor reappointment · Permanent representative6 facts ▸

General meeting, 2026-06-05
Auditor reappointment, 3 years
Permanent representative, Dirk Vlaminckx
Power of attorney, Moore Finance & Tax BV
Power of attorney, Tanja De Naeyer
Power of attorney, Dominique Jaminet

2025

04-12

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema · 307 days late

2024

15-10

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema · 258 days late

30-06

Financial Highest result since 2020net €1.09M ▲20.2%

Net result €1.09M, the highest in the series.

2023

30-06

Financial Equity above €2MEq €2.05M ▲79%

3 profitable years in a row build equity to €2.05M.

28-04

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema · 87 days late

2022

30-06

Financial Equity above €1MEq €1.14M ▲195%

2 profitable years in a row build equity to €1.14M.

23-02

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema · 23 days late

2021

28-10

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema · 89 days late

30-06

Financial Back to profitnet €388k

Net result €388k after one loss-making year.

30-06

Financial Equity above €200kEq €388k

Equity rises from €-121 to €388k.

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

Location & real-estate footprint

Registered office, Elsene · 1 establishment unit since 2020

establishment The establishment unit on the map

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.

Louizalaan 65/111050 Elsene

Ground area

1,683 m²

Building footprint

2,433 m²

Volume, LiDAR

61,492 m³