NURHAN
ActiveSummary
NURHAN has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €70,466 and a net result of -€6,053. Equity is shrinking by ~7.8% per year across the filed fiscal years. Its solvency ranks better than 95% of 28374 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability18▲+18
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity ample (current ratio 14.4 against 11.62 in 2024; short-term debt: 6.9% and cash: 11.6% of total assets), and 6.9% of the assets are financed with debt.
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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 · 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
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 -€6,053
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 09-07-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 d early
2024
28 d late
2023
30 d late
2022
6 d early
2021
57 d late
2020
30 d late
2019
1 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 17 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
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. Usually files around 28 August (4 of the last 5 filed years within 34 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€70,466▼ 7.9%
2024 · €76,519
Total assets
€75,675▼ 9.6%
2024 · €83,757
Net result
-€6,053▲ 83.7%
2024 · -€37,233
Working capital
€69,821▼ 8.1%
2024 · €75,960
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€2,008▲ 56.7%-€18,556▼ 824%-€8,573▲ 53.8%-€37,056▼ 332%-€7,833▲ 78.9%
Net result€16below the sector's middle half-€14,282below the sector's middle half-€9,109below the sector's middle half▲ 36.2%-€37,233below the sector's middle half▼ 309%-€6,053below the sector's middle half▲ 83.7%
Equity€137,143above the sector's middle half=€122,861within the sector's middle half▼ 10.4%€113,752within the sector's middle half▼ 7.4%€76,519within the sector's middle half▼ 32.7%€70,466within the sector's middle half▼ 7.9%
Total assets€143,906within the sector's middle half▼ 9.3%€133,154within the sector's middle half▼ 7.5%€121,006within the sector's middle half▼ 9.1%€83,757within the sector's middle half▼ 30.8%€75,675within the sector's middle half▼ 9.6%
Debt€6,763▼ 68.5%€10,292▲ 52.2%€7,254▼ 29.5%€7,237▼ 0.2%€5,209▼ 28.0%
Working capital€136,499above the sector's middle half▼ 3.5%€122,217above the sector's middle half▼ 10.5%€113,108above the sector's middle half▼ 7.5%€75,960within the sector's middle half▼ 32.8%€69,821within the sector's middle half▼ 8.1%
Solvency95.3%above the sector's middle half▲ 8.8pp92.3%above the sector's middle half▼ 3.0pp94.0%above the sector's middle half▲ 1.7pp91.4%above the sector's middle half▼ 2.6pp93.1%above the sector's middle half▲ 1.8pp
Current ratio21.18above the sector's middle half▲ 10.9912.87above the sector's middle half▼ 8.3116.59above the sector's middle half▲ 3.7211.62above the sector's middle half▼ 4.9714.40above the sector's middle half▲ 2.78
Return on assets (ROA)0.0%below the sector's middle half▲ 3.2pp-10.7%below the sector's middle half▼ 10.7pp-7.5%below the sector's middle half▲ 3.2pp-44.5%below the sector's middle half▼ 36.9pp-8.0%below the sector's middle half▲ 36.5pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €7,833 in 2025 against €37,056 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €75,675
Fixed assets
€644 =
Current assets
€75,031 ▼ 9.7%
Equity and liabilities €75,675
Equity
€70,466 ▼ 7.9%
Debt
€5,209 ▼ 28.0%
Debt's share of the balance-sheet total falls from 8.6% to 6.9%. Equity and debt are lower.
Key figures and ratios
Debt to equity
0.07▼
2024 · 0.09
ROE
-8.6%▲
2024 · -48.7%
Debt ≤ 1 year
€5,209▼
2024 · €7,152
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.7%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 12,321 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €4,151 | €146 | -€306 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,167 | €0 | - | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €29,718 | €0 | ▼ 100% |
| Other operating charges640/8 | €2,118 | €707 | €775 | €619 | €1,245 | ▲ 101% |
| Gross operating margin9900 | €5,427 | -€17,704 | -€8,104 | -€6,719 | -€6,588 | ▲ 1.9% |
| Operating profit (loss)9901 | -€2,008 | -€18,556 | -€8,573 | -€37,056 | -€7,833 | ▲ 78.9% |
| Financial income75/76B | €3,443 | €4,329 | €182 | €0 | €1,944 | - |
| Recurring financial income75 | €3,443 | €4,329 | €182 | €0 | €1,944 | - |
| Financial charges65/66B | €819 | €55 | €439 | €177 | €164 | ▼ 7.4% |
| Recurring financial charges65 | €819 | €55 | €439 | €177 | €164 | ▼ 7.4% |
| Profit (loss) for the period before taxes9903 | €616 | -€14,282 | -€8,830 | -€37,233 | -€6,053 | ▲ 83.7% |
| Income taxes67/77 | €600 | €0 | €279 | €0 | - | - |
| Profit (loss) for the period9904 | €16 | -€14,282 | -€9,109 | -€37,233 | -€6,053 | ▲ 83.7% |
| Profit (loss) for the period to be appropriated9905 | €16 | -€14,282 | -€9,109 | -€37,233 | -€6,053 | ▲ 83.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €143,906 | €133,154 | €121,006 | €83,757 | €75,675 | ▼ 9.6% |
| Fixed assets21/28 | €644 | €644 | €644 | €644 | €644 | = |
| Financial fixed assets28 | €644 | €644 | €644 | €644 | €644 | = |
| Current assets29/58 | €143,262 | €132,509 | €120,362 | €83,112 | €75,031 | ▼ 9.7% |
| Amounts receivable within one year40/41 | €127,604 | €123,673 | €111,523 | €73,522 | €65,733 | ▼ 10.6% |
| Trade receivables40 | €62,625 | €61,101 | €61,751 | €32,225 | €31,483 | ▼ 2.3% |
| Other amounts receivable41 | €64,979 | €62,572 | €49,772 | €41,297 | €34,250 | ▼ 17.1% |
| Cash at bank and in hand54/58 | €15,657 | €8,836 | €8,839 | €8,862 | €8,802 | ▼ 0.7% |
| Deferred charges and accrued income490/1 | - | - | - | €728 | €496 | ▼ 31.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €143,906 | €133,154 | €121,006 | €83,757 | €75,675 | ▼ 9.6% |
| Equity10/15 | €137,143 | €122,861 | €113,752 | €76,519 | €70,466 | ▼ 7.9% |
| Contributions10/11 | €6,250 | €6,250 | €6,250 | €6,250 | €6,250 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €0 | - | - |
| Distributable reserves133 | - | - | - | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €129,033 | €114,751 | €105,642 | €68,409 | €62,356 | ▼ 8.8% |
| Amounts payable17/49 | €6,763 | €10,292 | €7,254 | €7,237 | €5,209 | ▼ 28.0% |
| Amounts payable within one year42/48 | €6,763 | €10,292 | €7,254 | €7,152 | €5,209 | ▼ 27.2% |
| Trade debts44 | €1,849 | €8,634 | €5,915 | €7,152 | €5,209 | ▼ 27.2% |
| Suppliers440/4 | €1,849 | €8,634 | €5,915 | €7,152 | €5,209 | ▼ 27.2% |
| Taxes, remuneration and social security45 | €4,914 | €1,658 | €1,339 | €0 | - | - |
| Taxes450/3 | €1,846 | €1,658 | €1,339 | €0 | - | - |
| Remuneration and social security454/9 | €3,067 | €0 | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €85 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16 | -€14,282 | -€9,109 | -€37,233 | -€6,053 | ▲ 83.7% |
| + Depreciation and write-downs630 | €1,167 | €0 | - | - | - | - |
| Operating cash flow (approximation) | €1,183 | -€14,282 | -€9,109 | -€37,233 | -€6,053 | ▲ 83.7% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€6,821 | €2 | €23 | -€60 | ▼ 361% |
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
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
31-12
Financial
Weakest financial yearnet -€37,233
Net result drops to -€37,233, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
26-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 57 days late
2021
31-12
Financial
Back to profitnet €16
Net result €16 after 3 loss-making years.
31-12
Financial
Liquidity doublescurrent ratio 21.18
Current ratio from 10.19 to 21.18; short-term debt falls from €15,382 to €6,763.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
30-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
25-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 25 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 21 acts read
About the unread acts
We know of 21 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
21 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, Gent · 1 establishment unit since 2006
Ground area
296 m²
Building footprint
102 m²
Volume, LiDAR
521 m³
Parcel 44812M0027/00M002, Flanders · tallest building 11.1 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Scheeplosserstraat 90, 9000 Gent
since 20062.157.456.182
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44812M0027/00M002 | Flanders | 296 m² | 1 · 102 m² | 11.1 m · 1 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 15,518 companies in sector 43990 we hold annual accounts for 7,426. 6,227 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
Founded12-09-2006
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
43230Insulation installation
43310Plastering work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0883700880
Also
9925:BE0883700880
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.