NERM
ActiveSummary
NERM has been active since 1979 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-109k) and a net result of €15k. Equity is shrinking by ~54.7% per year across the filed fiscal years. Its solvency ranks better than 5% of 2198 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+96
Solvency0=
Growth38=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.17 against 0.26 in 2024; short-term debt: 593.2% and cash: 34.9% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Seven 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 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-619.4%
Return on assets
84%
Age of the figures
12 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 2198 sector peers (2025).
NBB · sector comparisonPosition among 2198 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
2 d early
2023
1 d late
2022
81 d late
2020
36 d early
2019
6 d late
2018
22 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 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€13k▼ 56.9%
2018 · €31k
2018: €31k
2022: €13k
2018 → 2022
EBIT margin
-584.0%▼ 185.4pp
2018 · -398.6%
2018: -398.6%
2022: -584.0%
2018 → 2022
Net result
€15k
2024 · €-77k
2018: €-128klowest value
2019: €-82k▲ +36.1% vs 2018
2020: €-75k▲ +8.1% vs 2019
2022: €-86k
2023: €-21k▲ +75.9% vs 2022
2024: €-77k▼ -273% vs 2023
2025: €15k▲ +119% vs 2024highest value
2018 → 2025
Working capital
€-86k▲ 0.9%
2024 · €-87k
2018: €-60khighest value
2019: €-72k▼ -19.5% vs 2018
2020: €-79k▼ -9.8% vs 2019
2022: €-114klowest value
2023: €-72k▲ +37.4% vs 2022
2024: €-87k▼ -21.9% vs 2023
2025: €-86k▲ +0.9% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202022202320242025Trend
Turnover€13k
Equity€146k-€-25k€-46k▼ 82.0%€-123k▼ 168%€-109k▲ 11.9%
2020: €146khighest value
2022: €-25k
2023: €-46k▼ -82.0% vs 2022
2024: €-123k▼ -168% vs 2023lowest value
2025: €-109k▲ +11.9% vs 2024
Operating result€-68k-€-78k▼ 15.0%€-3k▲ 96.3%€-73k▼ 2,413%€18k
2020: €-68k
2022: €-78klowest value
2023: €-3k▲ +96.3% vs 2022
2024: €-73k▼ -2413% vs 2023
2025: €18k▲ +125% vs 2024highest value
Net result€-75k-€-86k▼ 14.1%€-21k▲ 75.9%€-77k▼ 273%€15k
2020: €-75k
2022: €-86klowest value
2023: €-21k▲ +75.9% vs 2022
2024: €-77k▼ -273% vs 2023
2025: €15k▲ +119% vs 2024highest value
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €18k after a loss of €73k in 2024, the highest result in the available series.
Key figures and ratios
Solvency
-619.4%▼
2024 · -411.5%
Current ratio
0.17▼
2024 · 0.26
Debt to equity
-1.16▲
2024 · -1.24
ROA
84.0%▲
2024 · -258.1%
Debt
€126k▼
2024 · €153k
Debt ≤ 1 year
€104k▼
2024 · €117k
Debt > 1 year
€22k▼
2024 · €36k
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 · 36 lines
Balance sheet
Code20242025
Assets
Total assets20/58€30k€18k▼
Current assets29/58€30k€18k▼
Amounts receivable within one year40/41€30k€11k▼
Trade receivables40€29k€11k▼
Other amounts receivable41€882€159▼
Cash at bank and in hand54/58€136€6k▲
Equity and liabilities
Total equity and liabilities10/49€30k€18k▼
Equity10/15€-123k€-109k▲
Contributions10/11€648k€648k=
Capital10€648k€648k=
Issued capital100€648k€648k=
Revaluation surpluses12€600k€600k=
Reserves13€13k€13k=
Non-distributable reserves130/1€3k€3k=
Legal reserve130€3k€3k=
Distributable reserves133€10k€10k=
Profit (loss) carried forward14€-1.38M€-1.37M▲
Amounts payable17/49€153k€126k▼
Amounts payable after more than one year17€36k€22k▼
Financial debts170/4€36k€22k▼
Amounts payable within one year42/48€117k€104k▼
Current portion of amounts payable after more than one year42€13k€14k▲
Trade debts44€15k-
Suppliers440/4€15k-
Other amounts payable47/48€90k€90k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€75k-
Other operating charges640/8€3k€2k▼
Gross operating margin9900€6k€20k▲
Operating profit (loss)9901€-73k€18k▲
Financial charges65/66B€5k€3k▼
Recurring financial charges65€5k€3k▼
Profit (loss) for the period before taxes9903€-77k€15k▲
Profit (loss) for the period9904€-77k€15k▲
Profit (loss) for the period to be appropriated9905€-77k€15k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-1.38M€-1.37M▲
Profit (loss) brought forward from the previous period14P€-1.31M€-1.38M▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | €13k | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €12k | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €77k | €79k | €75k | €75k | - | - |
| Other operating charges640/8 | - | €496 | - | €3k | €2k | ▼ 28.5% |
| Gross operating margin9900 | €11k | €2k | €72k | €6k | €20k | ▲ 259% |
| Operating profit (loss)9901 | €-68k | €-78k | €-3k | €-73k | €18k | ▲ 125% |
| Recurring financial income75 | €18 | - | - | - | - | - |
| Financial charges65/66B | - | €8k | €18k | €5k | €3k | ▼ 29.4% |
| Recurring financial charges65 | €8k | €8k | €18k | €5k | €3k | ▼ 29.4% |
| Profit (loss) for the period before taxes9903 | €-75k | €-86k | €-21k | €-77k | €15k | ▲ 119% |
| Profit (loss) for the period9904 | €-75k | €-86k | €-21k | €-77k | €15k | ▲ 119% |
| Profit (loss) for the period to be appropriated9905 | €-75k | €-86k | €-21k | €-77k | €15k | ▲ 119% |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €309k | €151k | €76k | €30k | €18k | ▼ 41.5% |
| Fixed assets21/28 | €306k | €150k | €75k | - | - | - |
| Tangible fixed assets22/27 | €306k | €150k | €75k | - | - | - |
| Land and buildings22 | - | €150k | €75k | - | - | - |
| Current assets29/58 | €3k | €1k | €1k | €30k | €18k | ▼ 41.5% |
| Amounts receivable within one year40/41 | €3k | €1k | €1k | €30k | €11k | ▼ 61.7% |
| Trade receivables40 | - | €1k | €1k | €29k | €11k | ▼ 61.1% |
| Other amounts receivable41 | - | €84 | - | €882 | €159 | ▼ 82.0% |
| Cash at bank and in hand54/58 | €23 | - | €122 | €136 | €6k | ▲ 4,393% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €309k | €151k | €76k | €30k | €18k | ▼ 41.5% |
| Equity10/15 | €146k | €-25k | €-46k | €-123k | €-109k | ▲ 11.9% |
| Contributions10/11 | €648k | €648k | €648k | €648k | €648k | = |
| Capital10 | - | €648k | €648k | €648k | €648k | = |
| Issued capital100 | - | €648k | €648k | €648k | €648k | = |
| Revaluation surpluses12 | - | €600k | €600k | €600k | €600k | = |
| Reserves13 | €13k | €13k | €13k | €13k | €13k | = |
| Non-distributable reserves130/1 | - | €3k | €3k | €3k | €3k | = |
| Legal reserve130 | - | €3k | €3k | €3k | €3k | = |
| Distributable reserves133 | - | €10k | €10k | €10k | €10k | = |
| Profit (loss) carried forward14 | €-1.11M | €-1.29M | €-1.31M | €-1.38M | €-1.37M | ▲ 1.1% |
| Amounts payable17/49 | €162k | €176k | €122k | €153k | €126k | ▼ 17.7% |
| Amounts payable after more than one year17 | €80k | €60k | €49k | €36k | €22k | ▼ 38.6% |
| Financial debts170/4 | - | €60k | €49k | €36k | €22k | ▼ 38.6% |
| Amounts payable within one year42/48 | €82k | €115k | €73k | €117k | €104k | ▼ 11.3% |
| Current portion of amounts payable after more than one year42 | - | €11k | €12k | €13k | €14k | ▲ 9.9% |
| Financial debts43 | - | €2k | - | - | - | - |
| Credit institutions430/8 | - | €2k | - | - | - | - |
| Trade debts44 | €2k | €12k | - | €15k | - | - |
| Suppliers440/4 | - | €12k | - | €15k | - | - |
| Taxes, remuneration and social security45 | - | - | €408 | - | - | - |
| Taxes450/3 | - | - | €408 | - | - | - |
| Other amounts payable47/48 | - | €91k | €61k | €90k | €90k | ▲ 0.2% |
| Accrued charges and deferred income492/3 | - | €649 | €649 | - | - | - |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-75k | €-86k | €-21k | €-77k | €15k | ▲ 119% |
| + Depreciation and write-downs630 | €77k | €79k | €75k | €75k | - | - |
| Operating cash flow (approximation) | €2k | €-7k | €54k | €-2k | €15k | ▲ 727% |
| Investment in fixed assets (approximation) | - | - | €0 | - | - | - |
| Change in cash | - | - | - | €14 | €6k | ▲ 41,464% |
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
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-09
Financial
Back to profitnet €15k
Net result €15k after 6 loss-making years.
28-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
01-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 1 day late
2023
20-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 81 days late
2021
25-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
06-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 6 days late
2019
08-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
14-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 14 days late
2015
30-03
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
2014
29-04
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema
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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Brussel · 1 establishment unit since 1998
Ground area
120 m²
Building footprint
89 m²
Volume, LiDAR
1,408 m³
Parcel 21803C0244/00Y000, Brussels · tallest building 21.9 m, ±5 floors. Linked by address, not a title deed.
141
companies at this address
See who is registered here
1 establishment unit
NERM
since 19982.030.316.106
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21803C0244/00Y000 ProtectedSite or landscapeVrijheidsplein en omliggende gebouwen - Onze-Lieve-Vrouw-ter-Sneeuwwijk |
Brussels | 120 m² | 1 · 88 m² | 21.9 m · 5 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Similar companies · same sector, comparable size
JG CONSTRUCT
BE 0818.921.114
Lille · Eq €146,277
LAC CONSTRUCT
BE 0759.516.235
Sint-Pieters-Leeuw · Eq €146,269
AGR & R
BE 0880.652.310
Kruisem · Eq €146,346
ABR concept
BE 0885.504.090
Kampenhout · Eq €146,236
Aannemingen Ruw
BE 0782.342.513
Genk · Eq €146,359
Of 29,779 companies in sector 41001 we hold annual accounts for 16,044. 12,672 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
Founded22-02-1979
Fiscal year end30-09
Activities, NACEBEL 2025
41001General construction of residential buildings
41002Construction of residential and non-residential buildings
41003General construction of other non-residential buildings
46412Wholesale of household textiles and bedding
68110Buying and selling of own real estate
70200Business and other management consultancy
71111Activities of building architects
Contact
Website
www.brickNwood.be
E-mail
nermtorhout@gmail.com
Phone
0475 545949
Fax
0486777333
E-mail
nermbrussels@gmail.comBrussel
Phone
0486777333Brussel
Fax
0475545949Brussel
Scores and ratios are computed by Checked and are not a credit decision.