NIVOLO
ActiveNIVOLO has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.04M and a net result of €156k. Equity is growing by ~2.7% per year across the filed fiscal years. Its solvency ranks better than 12% of 2029 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
57
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability61▼-5
Solvency36▼-2
Growth59▲+13
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity tight (current ratio 1.38 against 1.06 in 2024; short-term debt: 42.1% and cash: 6.4% of total assets), and 89.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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 41
Relative position
BE, all sectors
reference
Sector 41
higher
← 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
10.9%
Return on assets
1.6%
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
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 12% of 2029 sector peers (2025).
NBB · sector comparisonPosition among 2029 sector peers
Solvency
better than 12%
← weakest
strongest →
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
29 d late
2023
8 d early
2022
25 d late
2021
26 d late
2020
8 d early
2019
31 d late
← before the deadline
after the deadline →
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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€18.84M▲ 12.5%
2024 · €16.75M
2021: €12.08M
2022: €13.16M
2023: €15.02M
2024: €16.75M
2021 → 2025
EBIT margin
2.1%▼ 1.5pp
2024 · 3.6%
2021: 10.5%
2022: 7.3%
2023: 5.1%
2024: 3.6%
2021 → 2025
Net result
€156k▼ 62.4%
2024 · €415k
2018: €761k
2019: €587k
2020: €871k
2021: €1.12M
2022: €821k
2023: €494k
2024: €415k
2018 → 2025
Working capital
€1.53M▲ 482%
2024 · €262k
2018: €1.44M
2019: €1.02M
2020: €1.31M
2021: €1.00M
2022: €1.09M
2023: €734k
2024: €262k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€12.08M-€13.16M▲ 8.9%€15.02M▲ 14.2%€16.75M▲ 11.5%€18.84M▲ 12.5%
Equity€956k-€1.18M▲ 23.1%€1.42M▲ 20.7%€886k▼ 37.6%€1.04M▲ 17.6%
Operating result€1.27M-€966k▼ 23.8%€764k▼ 20.9%€596k▼ 21.9%€396k▼ 33.6%
Net result€1.12M-€821k▼ 26.5%€494k▼ 39.8%€415k▼ 15.9%€156k▼ 62.4%
Result per fiscal year
Operating resultNet result
The operating result has fallen four years in a row; 2025 is 34% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9.54M
Fixed assets
€4.00M▲ 64.8%
Current assets
€5.54M▲ 26.3%
Equity and liabilities €9.54M
Equity
€1.04M▲ 17.6%
Debt
€8.50M▲ 43.4%
The debt ratio rises from 87.0% to 89.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€991k▼
2024 · €1.11M
Cash flow
€751k▼
2024 · €930k
Solvency
10.9%▼
2024 · 13.0%
Current ratio
1.38▲
2024 · 1.06
Quick ratio
1.32▲
2024 · 0.97
Debt / equity
8.16▲
2024 · 6.69
ROE
15.0%▼
2024 · 46.9%
ROA
1.6%▼
2024 · 6.1%
Interest coverage
7.71▼
2024 · 7.77
Debt
€8.50M▲
2024 · €5.93M
Debt ≤ 1 year
€4.01M▼
2024 · €4.12M
Debt > 1 year
€4.04M▲
2024 · €1.81M
Income taxes
€80k▲
2024 · €42k
Staff costs
€2.13M▼
2024 · €2.20M
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€6.81M€9.54M▲
Fixed assets21/28€2.43M€4.00M▲
Intangible fixed assets21€185k€442k▲
Tangible fixed assets22/27€2.22M€3.54M▲
Land and buildings22€1.05M€1.05M▲
Plant, machinery and equipment23€163k€224k▲
Furniture and vehicles24€930k€1.74M▲
Leasing and similar rights25€71k€488k▲
Other tangible fixed assets26€12k€35k▲
Financial fixed assets28€20k€20k=
Other financial fixed assets284/8€20k€20k=
Shares284€2k€2k=
Amounts receivable and cash guarantees285/8€18k€18k=
Current assets29/58€4.38M€5.54M▲
Stocks and contracts in progress3€395k€247k▼
Stocks30/36€395k€247k▼
Goods purchased for resale34€395k€247k▼
Amounts receivable within one year40/41€3.78M€4.03M▲
Trade receivables40€2.58M€2.60M▲
Other amounts receivable41€1.20M€1.43M▲
Current investments50/53€12k€3k▼
Other investments51/53€12k€3k▼
Cash at bank and in hand54/58€154k€607k▲
Deferred charges and accrued income490/1€43k€653k▲
Equity and liabilities
Total equity and liabilities10/49€6.81M€9.54M▲
Equity10/15€886k€1.04M▲
Contributions10/11€39k€39k=
Reserves13€847k€1.00M▲
Tax-exempt reserves132€0-
Distributable reserves133€847k€1.00M▲
Amounts payable17/49€5.93M€8.50M▲
Amounts payable after more than one year17€1.81M€4.04M▲
Financial debts170/4€1.41M€2.24M▲
Leasing and similar obligations172€53k€359k▲
Credit institutions173€1.35M€1.88M▲
Other amounts payable178/9€400k€1.80M▲
Amounts payable within one year42/48€4.12M€4.01M▼
Current portion of amounts payable after more than one year42€435k€782k▲
Financial debts43€1.18M€34k▼
Credit institutions430/8€1.15M€0▼
Other loans439€25k€34k▲
Trade debts44€1.71M€2.78M▲
Suppliers440/4€1.71M€2.78M▲
Taxes, remuneration and social security45€206k€156k▼
Taxes450/3€32k€17k▼
Remuneration and social security454/9€174k€139k▼
Other amounts payable47/48€600k€260k▼
Accrued charges and deferred income492/3€0€443k▲
Income statement
Code20242025
Operating income70/76A€16.96M€18.94M▲
Turnover70€16.75M€18.84M▲
Other operating income74€200k€79k▼
Non-recurring operating income76A€4k€17k▲
Operating charges60/66A€16.36M€18.54M▲
Goods for resale, raw materials and consumables60€9.64M€11.35M▲
Purchases600/8€9.90M€11.20M▲
Change in stocks: decrease (increase)609€-262k€148k▲
Services and other goods61€3.69M€4.29M▲
Remuneration, social security and pensions62€2.20M€2.13M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€515k€595k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€269k€81k▼
Other operating charges640/8€31k€51k▲
Non-recurring operating charges66A€19k€49k▲
Operating profit (loss)9901€596k€396k▼
Financial income75/76B€57k€49k▼
Recurring financial income75€57k€49k▼
Income from current assets751€35k€43k▲
Other financial income752/9€22k€5k▼
Financial charges65/66B€197k€209k▲
Recurring financial charges65€197k€209k▲
Debt charges650€143k€129k▼
Other financial charges652/9€54k€81k▲
Profit (loss) for the period before taxes9903€457k€236k▼
Income taxes67/77€42k€80k▲
Taxes670/3€42k€80k▲
Profit (loss) for the period9904€415k€156k▼
Transfer from tax-exempt reserves789€180k€0▼
Profit (loss) for the period to be appropriated9905€595k€156k▼
Appropriation of the result
Profit (loss) to be appropriated9906€595k€156k▼
Transfer from equity791/2€550k€0▼
From reserves792€550k€0▼
Transfer to equity691/2€195k€156k▼
To other reserves6921€195k€156k▼
Profit to be distributed694/7€950k€0▼
Return on contributions (dividend)694€550k€0▼
Directors or managers695€400k€0▼
Social balance
Average headcount (FTE)908735.532.4▼
The notes to these accounts (94 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
03-09
State Gazette act
Resignations & appointments · MiscellaneousGeneral meeting · Auditor appointment2 facts ▸
State Gazette act
Resignations & appointments · Miscellaneous
General meeting · Auditor appointment2 facts ▸
- General meeting, 2024-06-24
- Auditor appointment, VRC Bedrijfsrevisoren BV
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 28 days late
2025
31-12
Financial
Weakest financial yearnet €156k ▼62.4%
Net result drops to €156k, the lowest in the series.
31-12
Financial
Equity above €1MEq €1.04M ▲17.6%
8 profitable years in a row build equity to €1.04M.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 29 days late
2024
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 25 days late
2022
31-12
Financial
Equity above €1MEq €1.18M ▲23.1%
5 profitable years in a row build equity to €1.18M.
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 26 days late
2021
31-12
Financial
Highest result since 2018net €1.12M ▲28.1%
Operating result €1.27M, net result €1.12M, both a record.
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €1MEq €1.12M ▲45.9%
3 profitable years in a row build equity to €1.12M.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 31 days late
2019
20-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
19-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
17-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 17 days late
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, Kruisem · 1 establishment unit since 2008
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.
Meirestraat(KRU) 99770 KruisemGround area
2.0 ha
Building footprint
2,967 m²
Volume, LiDAR
1,626 m³
Parcel 45017C0880/00F000, Flanders · tallest building 12.8 m. Linked by address, not a title deed.
1 establishment unit
Nivolo
since 20082.175.110.578
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45017C0880/00F000 | Flanders | 2.0 ha | 1 · 2,967 m² | 12.8 m |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Statutory auditor
1 auditor| VRC BEDRIJFSREVISOREN BVCurrent Auditor | 24-06-2024 → present |
Public money · subsidies and aid
Flemish government
2022 to 2025 · 10 entries · 102,252 EUR awarded · 58,346 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 3 | 7,741 EUR | 31,637 EUR |
| 2024 | 2 | 530 EUR | 24,300 EUR |
| 2023 | 3 | 92,254 EUR | 682 EUR |
| 2022 | 2 | 1,727 EUR | 1,727 EUR |
Schemes
Innovatieprojecten in de context van een speerpuntcluster
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Vlaams opleidingsverlof (VOV)
Recognitions · licences · registrations
Recognised contractor
2 categoriesNIVOLO BV37139
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FVN
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Of 29,808 companies in sector 41001 we hold annual accounts for 16,038. 6,275 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded17-11-2008
Fiscal year end31-12
Activities, NACEBEL
41001General construction of residential buildings
43230Insulation installation
43291Specialised construction activities
43120Site preparation
43350Other building finishing work
43992Specialised construction activities
45402
47830Retail sale of motorcycles and motorcycle parts and accessories
81220Other building cleaning and industrial cleaning
81300Landscape service activities
Sources
Crossroads Bank for EnterprisesNational Bank · 17 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.