NELL
ActiveSummary
NELL has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €417k and a net result of €152k. Equity is growing by ~9.4% per year across the filed fiscal years. Its solvency ranks better than 54% of 9624 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability88▲+8
Solvency67▼-2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity tight (current ratio 1.47 against 1.55 in 2023; short-term debt: 36.4% and cash: 14.5% of total assets), and 57.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-07-2025, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
on the day
2023
50 d early
2022
4 d early
2021
3 d early
2020
44 d early
2019
on the day
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€417k▲ 57.4%
2023 · €265k
2018: €173klowest in 7 years
2019: €204k▲ +17.9% vs 2018
2020: €213k▲ +4.1% vs 2019
2021: €186k▼ -12.8% vs 2020
2022: €211k▲ +13.9% vs 2021
2023: €265k▲ +25.4% vs 2022
2024: €417k▲ +57.4% vs 2023highest in 7 years
2018 → 2024
Total assets
€992k▲ 63.9%
2023 · €605k
2018: €515k
2019: €455k▼ -11.5% vs 2018
2020: €447k▼ -1.8% vs 2019
2021: €329k▼ -26.3% vs 2020lowest in 7 years
2022: €421k▲ +27.9% vs 2021
2023: €605k▲ +43.7% vs 2022
2024: €992k▲ +63.9% vs 2023highest in 7 years
2018 → 2024
Net result
€152k▲ 183%
2023 · €54k
2018: €34k
2019: €31k▼ -9.5% vs 2018
2020: €8k▼ -72.7% vs 2019
2021: €-27k▼ -423% vs 2020lowest in 7 years
2022: €26k▲ +194% vs 2021
2023: €54k▲ +109% vs 2022
2024: €152k▲ +183% vs 2023highest in 7 years
2018 → 2024
Working capital
€169k▲ 20.6%
2023 · €140k
2018: €76klowest in 7 years
2019: €137k▲ +79.4% vs 2018
2020: €153k▲ +11.6% vs 2019
2021: €130k▼ -15.1% vs 2020
2022: €148k▲ +14.2% vs 2021
2023: €140k▼ -5.6% vs 2022
2024: €169k▲ +20.6% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€213k-€186k▼ 12.8%€211k▲ 13.9%€265k▲ 25.4%€417k▲ 57.4%
2020: €213k
2021: €186k▼ -12.8% vs 2020lowest in 5 years
2022: €211k▲ +13.9% vs 2021
2023: €265k▲ +25.4% vs 2022
2024: €417k▲ +57.4% vs 2023highest in 5 years
Operating result€10k-€-24k€32k€80k▲ 146%€213k▲ 166%
2020: €10k
2021: €-24k▼ -348% vs 2020lowest in 5 years
2022: €32k▲ +233% vs 2021
2023: €80k▲ +146% vs 2022
2024: €213k▲ +166% vs 2023highest in 5 years
Net result€8k-€-27k€26k€54k▲ 109%€152k▲ 183%
2020: €8k
2021: €-27k▼ -423% vs 2020lowest in 5 years
2022: €26k▲ +194% vs 2021
2023: €54k▲ +109% vs 2022
2024: €152k▲ +183% vs 2023highest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 166% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €992k
Fixed assets
€462k ▲ 120%
Current assets
€530k ▲ 33.9%
Equity and liabilities €992k
Equity
€417k ▲ 57.4%
Debt
€575k ▲ 68.9%
Debt's share of the balance-sheet total rises from 56.2% to 57.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€255k▲
2023 · €107k
Cash flow
€194k▲
2023 · €81k
Current ratio
1.47▼
2023 · 1.55
Quick ratio
1.16▼
2023 · 1.18
Debt to equity
1.38▲
2023 · 1.28
ROE
36.5%▲
2023 · 20.3%
ROA
15.4%▲
2023 · 8.9%
Interest coverage
24.39▲
2023 · 9.74
Debt ≤ 1 year
€361k▲
2023 · €256k
Debt > 1 year
€213k▲
2023 · €84k
Income taxes
€51k▲
2023 · €16k
Staff costs
€319k▲
2023 · €219k
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 · 2024 against 2023 · 58 lines
Balance sheet
Code20232024
Assets
Total assets20/58€605k€992k▲
Fixed assets21/28€209k€462k▲
Intangible fixed assets21€8k€6k▼
Tangible fixed assets22/27€201k€455k▲
Land and buildings22€129k€386k▲
Plant, machinery and equipment23€49k€48k▼
Furniture and vehicles24€8k€5k▼
Other tangible fixed assets26€15k€16k▲
Financial fixed assets28€597€597=
Current assets29/58€396k€530k▲
Stocks and contracts in progress3€93k€109k▲
Stocks30/36€93k€109k▲
Amounts receivable within one year40/41€98k€147k▲
Trade receivables40€74k€85k▲
Other amounts receivable41€23k€62k▲
Current investments50/53€50k€129k▲
Cash at bank and in hand54/58€153k€143k▼
Deferred charges and accrued income490/1€2k€1k▼
Equity and liabilities
Total equity and liabilities10/49€605k€992k▲
Equity10/15€265k€417k▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€24k€24k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Tax-exempt reserves132€18k€18k=
Profit (loss) carried forward14€179k€331k▲
Amounts payable17/49€340k€575k▲
Amounts payable after more than one year17€84k€213k▲
Financial debts170/4€84k€213k▲
Amounts payable within one year42/48€256k€361k▲
Current portion of amounts payable after more than one year42€23k€38k▲
Financial debts43€0-
Credit institutions430/8€0-
Trade debts44€161k€225k▲
Suppliers440/4€161k€225k▲
Taxes, remuneration and social security45€68k€95k▲
Taxes450/3€17k€23k▲
Remuneration and social security454/9€51k€72k▲
Other amounts payable47/48€5k€4k▼
Accrued charges and deferred income492/3€309€0▼
Income statement
Code20232024
Remuneration, social security and pensions62€219k€319k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€27k€42k▲
Other operating charges640/8€73k€3k▼
Gross operating margin9900€400k€576k▲
Operating profit (loss)9901€80k€213k▲
Financial income75/76B€1k€747▼
Recurring financial income75€1k€747▼
Financial charges65/66B€11k€10k▼
Recurring financial charges65€11k€10k▼
Profit (loss) for the period before taxes9903€70k€204k▲
Income taxes67/77€16k€51k▲
Profit (loss) for the period9904€54k€152k▲
Profit (loss) for the period to be appropriated9905€54k€152k▲
Appropriation of the result
Profit (loss) to be appropriated9906€179k€331k▲
Profit (loss) brought forward from the previous period14P€125k€179k▲
Social balance
Average headcount (FTE)90877.99.2▲
The notes to these accounts (22 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €193k | €219k | €219k | €319k | ▲ 45.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20k | €17k | €16k | €27k | €42k | ▲ 54.4% |
| Other operating charges640/8 | - | €4k | €1k | €73k | €3k | ▼ 96.4% |
| Gross operating margin9900 | €205k | €190k | €268k | €400k | €576k | ▲ 44.1% |
| Operating profit (loss)9901 | €10k | €-24k | €32k | €80k | €213k | ▲ 166% |
| Financial income75/76B | - | €4k | €309 | €1k | €747 | ▼ 33.2% |
| Recurring financial income75 | €6k | €4k | €309 | €1k | €747 | ▼ 33.2% |
| Financial charges65/66B | - | €7k | €7k | €11k | €10k | ▼ 4.9% |
| Recurring financial charges65 | €7k | €7k | €7k | €11k | €10k | ▼ 4.9% |
| Profit (loss) for the period before taxes9903 | €8k | €-27k | €26k | €70k | €204k | ▲ 190% |
| Income taxes67/77 | €0 | - | - | €16k | €51k | ▲ 213% |
| Profit (loss) for the period9904 | €8k | €-27k | €26k | €54k | €152k | ▲ 183% |
| Profit (loss) for the period to be appropriated9905 | €8k | €-27k | €26k | €54k | €152k | ▲ 183% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €447k | €329k | €421k | €605k | €992k | ▲ 63.9% |
| Fixed assets21/28 | €81k | €72k | €75k | €209k | €462k | ▲ 120% |
| Intangible fixed assets21 | €2k | €1k | €1k | €8k | €6k | ▼ 27.4% |
| Tangible fixed assets22/27 | €78k | €70k | €73k | €201k | €455k | ▲ 127% |
| Land and buildings22 | - | - | - | €129k | €386k | ▲ 200% |
| Plant, machinery and equipment23 | - | €21k | €24k | €49k | €48k | ▼ 2.8% |
| Furniture and vehicles24 | - | €12k | €13k | €8k | €5k | ▼ 37.1% |
| Other tangible fixed assets26 | - | €37k | €35k | €15k | €16k | ▲ 6.8% |
| Financial fixed assets28 | €994 | €597 | €597 | €597 | €597 | = |
| Current assets29/58 | €366k | €257k | €346k | €396k | €530k | ▲ 33.9% |
| Stocks and contracts in progress3 | €74k | €45k | €52k | €93k | €109k | ▲ 17.1% |
| Stocks30/36 | - | €45k | €52k | €93k | €109k | ▲ 17.1% |
| Amounts receivable within one year40/41 | €262k | €41k | €191k | €98k | €147k | ▲ 50.6% |
| Trade receivables40 | - | €39k | €56k | €74k | €85k | ▲ 13.9% |
| Other amounts receivable41 | - | €2k | €135k | €23k | €62k | ▲ 168% |
| Current investments50/53 | €0 | - | - | €50k | €129k | ▲ 158% |
| Cash at bank and in hand54/58 | €22k | €164k | €101k | €153k | €143k | ▼ 6.2% |
| Deferred charges and accrued income490/1 | - | €7k | €2k | €2k | €1k | ▼ 30.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €447k | €329k | €421k | €605k | €992k | ▲ 63.9% |
| Equity10/15 | €213k | €186k | €211k | €265k | €417k | ▲ 57.4% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | - | €62k | €62k | €62k | €62k | = |
| Issued capital100 | - | €62k | €62k | €62k | €62k | = |
| Reserves13 | €24k | €24k | €24k | €24k | €24k | = |
| Non-distributable reserves130/1 | - | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | - | €6k | €6k | €6k | €6k | = |
| Tax-exempt reserves132 | - | €18k | €18k | €18k | €18k | = |
| Profit (loss) carried forward14 | €127k | €100k | €125k | €179k | €331k | ▲ 85.1% |
| Amounts payable17/49 | €234k | €144k | €210k | €340k | €575k | ▲ 68.9% |
| Amounts payable after more than one year17 | €19k | €15k | €11k | €84k | €213k | ▲ 153% |
| Financial debts170/4 | - | €15k | €11k | €84k | €213k | ▲ 153% |
| Amounts payable within one year42/48 | €213k | €127k | €198k | €256k | €361k | ▲ 41.2% |
| Current portion of amounts payable after more than one year42 | - | €10k | €4k | €23k | €38k | ▲ 67.5% |
| Financial debts43 | - | €40 | €560 | €0 | - | - |
| Credit institutions430/8 | - | €40 | €560 | €0 | - | - |
| Trade debts44 | €65k | €67k | €138k | €161k | €225k | ▲ 39.7% |
| Suppliers440/4 | - | €67k | €138k | €161k | €225k | ▲ 39.7% |
| Taxes, remuneration and social security45 | - | €21k | €50k | €68k | €95k | ▲ 40.8% |
| Taxes450/3 | - | €0 | €9k | €17k | €23k | ▲ 34.3% |
| Remuneration and social security454/9 | - | €21k | €41k | €51k | €72k | ▲ 43.0% |
| Other amounts payable47/48 | - | €29k | €5k | €5k | €4k | ▼ 25.4% |
| Accrued charges and deferred income492/3 | - | €1k | €559 | €309 | €0 | ▼ 100% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8k | €-27k | €26k | €54k | €152k | ▲ 183% |
| + Depreciation and write-downs630 | €20k | €17k | €16k | €27k | €42k | ▲ 54.4% |
| Operating cash flow (approximation) | €29k | €-10k | €41k | €81k | €194k | ▲ 140% |
| Investment in fixed assets (approximation) | - | €-8k | €-19k | €-162k | €-294k | ▼ 81.9% |
| Change in cash | - | €142k | €-63k | €52k | €-10k | ▼ 119% |
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
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €152k ▲183%
Operating result €213k, net result €152k, both a record.
11-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €26k
Net result €26k after one loss-making year.
31-12
Financial
Equity above €200kEq €211k ▲13.9%
Equity rises from €186k to €211k.
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet €-27k
Net result drops to €-27k, the lowest in the series; recovery starts the following year.
17-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Equity above €200kEq €204k ▲17.9%
2 profitable years in a row build equity to €204k.
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Show earlier events
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 59 days late
2017
24-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 24 days late
2016
14-09
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 45 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
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, Leuven · 4 establishment units since 1983
Ground area
42.8 ha
Building footprint
1,085 m²
Volume, LiDAR
6,477 m³
4 parcels, Flanders · tallest building 10.2 m, ±3 floors. Linked by address, not a title deed.
81
companies at this address
See who is registered here
4 establishment units
NELL
since 19832.022.682.701
Nell Haacht
since 20232.349.078.989
Nell Herent
since 20242.362.268.219
Nell Kampenhout
since 20262.392.403.842
4 parcels
Flanders
4
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24505K0046/00S004 | Flanders | 42.5 ha | - | - |
| 23038C0256/00B000 | Flanders | 2,638 m² | 1 · 786 m² | 6.5 m · 2 fl. |
| 24033D0010/00C000 | Flanders | 259 m² | 1 · 174 m² | 10.2 m · 3 fl. |
| 24423H0328/00G004 | Flanders | 127 m² | 1 · 125 m² | 9.1 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
4 of 4 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 2,000 EUR awarded · 2,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,000 EUR | 2,000 EUR |
Schemes
Hinderpremie bij openbare werken
Recognitions · licences · registrations
Food safety, FASFC
3 sitesHaacht2.349.078.989
Herent2.362.268.219
Leuven2.022.682.701
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Of 2,347 companies in sector 47621 we hold annual accounts for 1,248. 855 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded24-05-1983
Fiscal year end31-12
Activities, NACEBEL 2025
47621Retail sale of newspapers and periodicals
47784Retail sale of souvenirs and religious articles
47552Retail sale of lighting equipment
47761Retail sale of flowers, plants, seeds and fertilisers
Scores and ratios are computed by Checked and are not a credit decision.