NSB
ActiveSummary
NSB has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €171k and a net result of €18k. Equity is growing by ~18% per year across the filed fiscal years. Its solvency ranks better than 84% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability79▼-13
Solvency100▲+2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14k at 30 days acceptable
Liquidity ample (current ratio 4.94 against 3.68 in 2024; short-term debt: 19.3% and cash: 89.3% of total assets), and 21.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
78.9%
Return on assets
8.2%
Age of the figures
9 mo
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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
28 d late
2024
1 d early
2023
20 d late
2022
3 d early
2021
4 d late
2020
19 d early
2019
46 d early
← 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
Financials · fiscal year 2025, micro schema
Equity
€171k▲ 11.6%
2024 · €153k
2018: €33klowest in 8 years
2019: €47k▲ +42.8% vs 2018
2020: €74k▲ +56.2% vs 2019
2021: €109k▲ +47.8% vs 2020
2022: €110k▲ +0.9% vs 2021
2023: €113k▲ +2.8% vs 2022
2024: €153k▲ +34.9% vs 2023
2025: €171k▲ +11.6% vs 2024highest in 8 years
2018 → 2025
Total assets
€216k▲ 3.5%
2024 · €209k
2018: €41klowest in 8 years
2019: €57k▲ +37.4% vs 2018
2020: €108k▲ +88.8% vs 2019
2021: €144k▲ +34.2% vs 2020
2022: €288k▲ +99.4% vs 2021highest in 8 years
2023: €286k▼ -0.5% vs 2022
2024: €209k▼ -27.1% vs 2023
2025: €216k▲ +3.5% vs 2024
2018 → 2025
Net result
€18k▼ 55.1%
2024 · €40k
2018: €-4klowest in 8 years
2019: €14k▲ +503% vs 2018
2020: €27k▲ +87.3% vs 2019
2021: €35k▲ +33.0% vs 2020
2022: €989▼ -97.2% vs 2021
2023: €11k▲ +968% vs 2022
2024: €40k▲ +274% vs 2023highest in 8 years
2025: €18k▼ -55.1% vs 2024
2018 → 2025
Working capital
€164k▲ 11.7%
2024 · €147k
2018: €31klowest in 8 years
2019: €43k▲ +40.7% vs 2018
2020: €62k▲ +43.2% vs 2019
2021: €101k▲ +62.1% vs 2020
2022: €257k▲ +155% vs 2021highest in 8 years
2023: €242k▼ -5.8% vs 2022
2024: €147k▼ -39.2% vs 2023
2025: €164k▲ +11.7% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€109k-€110k▲ 0.9%€113k▲ 2.8%€153k▲ 34.9%€171k▲ 11.6%
2021: €109klowest in 5 years
2022: €110k▲ +0.9% vs 2021
2023: €113k▲ +2.8% vs 2022
2024: €153k▲ +34.9% vs 2023
2025: €171k▲ +11.6% vs 2024highest in 5 years
Operating result€51k-€6k▼ 88.7%€23k▲ 302%€69k▲ 195%€27k▼ 60.6%
2021: €51k
2022: €6k▼ -88.7% vs 2021lowest in 5 years
2023: €23k▲ +302% vs 2022
2024: €69k▲ +195% vs 2023highest in 5 years
2025: €27k▼ -60.6% vs 2024
Net result€35k-€989▼ 97.2%€11k▲ 968%€40k▲ 274%€18k▼ 55.1%
2021: €35k
2022: €989▼ -97.2% vs 2021lowest in 5 years
2023: €11k▲ +968% vs 2022
2024: €40k▲ +274% vs 2023highest in 5 years
2025: €18k▼ -55.1% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 61% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €216k
Fixed assets
€10k ▲ 45.9%
Current assets
€206k ▲ 2.0%
Equity and liabilities €216k
Equity
€171k ▲ 11.6%
Debt
€46k ▼ 18.6%
Debt's share of the balance-sheet total falls from 26.8% to 21.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€31k▼
2024 · €74k
Cash flow
€22k▼
2024 · €45k
Current ratio
4.94▲
2024 · 3.68
Quick ratio
4.90▲
2024 · 3.65
Debt to equity
0.27▼
2024 · 0.37
ROE
10.4%▼
2024 · 25.9%
ROA
8.2%▼
2024 · 18.9%
Interest coverage
21.83▲
2024 · 8.46
Debt ≤ 1 year
€42k▼
2024 · €55k
Debt > 1 year
€4k▲
2024 · €1k
Income taxes
€8k▼
2024 · €21k
Staff costs
€52k▲
2024 · €46k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 54 lines
Balance sheet
Code20242025
Assets
Total assets20/58€209k€216k▲
Fixed assets21/28€7k€10k▲
Tangible fixed assets22/27€7k€10k▲
Plant, machinery and equipment23€6k€9k▲
Other tangible fixed assets26€1k€1k▼
Current assets29/58€202k€206k▲
Stocks and contracts in progress3€2k€2k=
Stocks30/36€2k€2k=
Contracts in progress37€0-
Amounts receivable within one year40/41€9k€10k▲
Trade receivables40€8k€8k▲
Other amounts receivable41€2k€2k▲
Cash at bank and in hand54/58€183k€193k▲
Deferred charges and accrued income490/1€8k€601▼
Equity and liabilities
Total equity and liabilities10/49€209k€216k▲
Equity10/15€153k€171k▲
Contributions10/11€6k€6k=
Reserves13€147k€164k▲
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€147k€164k▲
Profit (loss) carried forward14€0-
Amounts payable17/49€56k€46k▼
Amounts payable after more than one year17€1k€4k▲
Financial debts170/4€1k€4k▲
Amounts payable within one year42/48€55k€42k▼
Current portion of amounts payable after more than one year42€3k€3k▲
Financial debts43€1k€1k=
Other loans439€1k€1k=
Trade debts44€16k€6k▼
Suppliers440/4€16k€6k▼
Taxes, remuneration and social security45€24k€22k▼
Taxes450/3€20k€19k▼
Remuneration and social security454/9€3k€3k▼
Other amounts payable47/48€12k€9k▼
Income statement
Code20242025
Remuneration, social security and pensions62€46k€52k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€4k▼
Other operating charges640/8€744€1k▲
Gross operating margin9900€121k€85k▼
Operating profit (loss)9901€69k€27k▼
Financial income75/76B€265€0▼
Recurring financial income75€265€0▼
Financial charges65/66B€9k€1k▼
Recurring financial charges65€9k€1k▼
Profit (loss) for the period before taxes9903€60k€26k▼
Income taxes67/77€21k€8k▼
Profit (loss) for the period9904€40k€18k▼
Profit (loss) for the period to be appropriated9905€40k€18k▼
Appropriation of the result
Profit (loss) to be appropriated9906€40k€18k▼
Transfer from equity791/2€0-
Transfer to equity691/2€40k€18k▼
To other reserves6921€40k€18k▼
Profit to be distributed694/7€0-
Return on contributions (dividend)694€0-
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €42k | €39k | €47k | €46k | €52k | ▲ 14.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6k | €6k | €5k | €5k | €4k | ▼ 20.0% |
| Other operating charges640/8 | €1k | €2k | €1k | €744 | €1k | ▲ 45.2% |
| Gross operating margin9900 | €101k | €52k | €76k | €121k | €85k | ▼ 29.8% |
| Operating profit (loss)9901 | €51k | €6k | €23k | €69k | €27k | ▼ 60.6% |
| Financial income75/76B | €568 | €3 | €11 | €265 | €0 | ▼ 100.0% |
| Recurring financial income75 | €568 | €3 | €11 | €265 | €0 | ▼ 100.0% |
| Financial charges65/66B | €704 | €3k | €7k | €9k | €1k | ▼ 83.7% |
| Recurring financial charges65 | €704 | €3k | €7k | €9k | €1k | ▼ 83.7% |
| Profit (loss) for the period before taxes9903 | €51k | €2k | €16k | €60k | €26k | ▼ 57.5% |
| Income taxes67/77 | €16k | €1k | €5k | €21k | €8k | ▼ 62.0% |
| Profit (loss) for the period9904 | €35k | €989 | €11k | €40k | €18k | ▼ 55.1% |
| Profit (loss) for the period to be appropriated9905 | €35k | €989 | €11k | €40k | €18k | ▼ 55.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €144k | €288k | €286k | €209k | €216k | ▲ 3.5% |
| Fixed assets21/28 | €15k | €9k | €12k | €7k | €10k | ▲ 45.9% |
| Tangible fixed assets22/27 | €15k | €9k | €12k | €7k | €10k | ▲ 45.9% |
| Plant, machinery and equipment23 | €9k | €6k | €11k | €6k | €9k | ▲ 62.8% |
| Furniture and vehicles24 | €3k | €700 | €0 | - | - | - |
| Other tangible fixed assets26 | €2k | €2k | €2k | €1k | €1k | ▼ 25.0% |
| Current assets29/58 | €130k | €279k | €274k | €202k | €206k | ▲ 2.0% |
| Stocks and contracts in progress3 | €2k | €165k | €207k | €2k | €2k | = |
| Stocks30/36 | €2k | €2k | €2k | €2k | €2k | = |
| Contracts in progress37 | - | €164k | €205k | €0 | - | - |
| Amounts receivable within one year40/41 | €20k | €60k | €39k | €9k | €10k | ▲ 11.3% |
| Trade receivables40 | €20k | €5k | €21k | €8k | €8k | ▲ 2.7% |
| Other amounts receivable41 | €387 | €55k | €18k | €2k | €2k | ▲ 53.4% |
| Cash at bank and in hand54/58 | €102k | €52k | €28k | €183k | €193k | ▲ 5.6% |
| Deferred charges and accrued income490/1 | €6k | €2k | €728 | €8k | €601 | ▼ 92.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €144k | €288k | €286k | €209k | €216k | ▲ 3.5% |
| Equity10/15 | €109k | €110k | €113k | €153k | €171k | ▲ 11.6% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €103k | €104k | €107k | €147k | €164k | ▲ 12.1% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €0 | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €0 | - | - |
| Distributable reserves133 | €101k | €102k | €105k | €147k | €164k | ▲ 12.1% |
| Profit (loss) carried forward14 | - | - | €0 | €0 | - | - |
| Amounts payable17/49 | €35k | €178k | €173k | €56k | €46k | ▼ 18.6% |
| Amounts payable after more than one year17 | €6k | €155k | €141k | €1k | €4k | ▲ 221% |
| Financial debts170/4 | €6k | €155k | €141k | €1k | €4k | ▲ 221% |
| Amounts payable within one year42/48 | €29k | €22k | €33k | €55k | €42k | ▼ 24.0% |
| Current portion of amounts payable after more than one year42 | €4k | €6k | €6k | €3k | €3k | ▲ 20.4% |
| Financial debts43 | - | - | - | €1k | €1k | = |
| Other loans439 | - | - | - | €1k | €1k | = |
| Trade debts44 | €2k | €994 | €12k | €16k | €6k | ▼ 61.5% |
| Suppliers440/4 | €2k | €994 | €12k | €16k | €6k | ▼ 61.5% |
| Taxes, remuneration and social security45 | €20k | €11k | €3k | €24k | €22k | ▼ 6.2% |
| Taxes450/3 | €13k | €6k | €419 | €20k | €19k | ▼ 5.3% |
| Remuneration and social security454/9 | €6k | €5k | €2k | €3k | €3k | ▼ 11.5% |
| Other amounts payable47/48 | €3k | €5k | €12k | €12k | €9k | ▼ 20.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €35k | €989 | €11k | €40k | €18k | ▼ 55.1% |
| + Depreciation and write-downs630 | €6k | €6k | €5k | €5k | €4k | ▼ 20.0% |
| Operating cash flow (approximation) | €42k | €7k | €16k | €45k | €22k | ▼ 51.0% |
| Investment in fixed assets (approximation) | - | €0 | €-8k | €0 | €-7k | - |
| Change in cash | - | €-50k | €-25k | €155k | €10k | ▼ 93.4% |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €40k ▲274%
Operating result €69k, net result €40k, both a record.
31-12
Financial
Equity above €150kEq €153k ▲34.9%
6 profitable years in a row build equity to €153k.
20-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 20 days late
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity triplescurrent ratio 12.55
Current ratio from 4.49 to 12.55; short-term debt falls from €29k to €22k.
04-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 4 days late
2021
31-12
Financial
Equity above €100kEq €109k ▲47.8%
3 profitable years in a row build equity to €109k.
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
15-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €14k
Net result €14k after one loss-making year.
Show earlier events
03-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
22-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
19-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Dessel · 1 establishment unit since 2013
Ground area
924 m²
Building footprint
164 m²
Volume, LiDAR
1,074 m³
Parcel 13006D0153/00P000, Flanders · tallest building 10.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
NSB Bvba
since 20132.217.321.416
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13006D0153/00P000 | Flanders | 924 m² | 1 · 164 m² | 10.3 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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KEVIN VERVAET
BE 0740.754.356
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BE 0416.271.936
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Of 4,014 companies in sector 43310 we hold annual accounts for 1,746. 1,412 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
Founded27-02-2013
Fiscal year end31-12
Activities, NACEBEL 2025
43310Plastering work
Scores and ratios are computed by Checked and are not a credit decision.