Noreva · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of Noreva is 0.8% (low). The 2025 annual accounts show equity of €504k and a net result of €292k. Equity is growing by ~20.5% per year across the filed fiscal years. Its solvency ranks better than 59% of 334 sector peers (fiscal year 2025). The company has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 8 annual accounts.

Signals

2 signals · with evidence

Consistently profitable

Positive net result in the two most recent financial years (2024 and 2025).

View the result trend

Growing equity

Equity grew over 2023-2025. Profits are largely retained rather than distributed.

View the equity trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-06-2026, 59 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.

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.

How we compute the deadline

The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2025, that is 31-07-2026.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	02-06-2026	59 d early	2026-00145040
31-12-2024	31-07-2025	13-06-2025	48 d early	2025-00142071
31-12-2023	31-07-2024	25-06-2024	36 d early	2024-00166094
31-12-2022	31-07-2023	31-05-2023	61 d early	2023-00102842
31-12-2021	31-07-2022	24-06-2022	37 d early	2022-20102372
31-12-2020	31-07-2021	16-07-2021	15 d early	2021-36400207
31-12-2019	31-07-2020	26-06-2020	35 d early	2020-21300132
31-12-2018	31-07-2019	03-06-2019	58 d early	2019-16800208
31-12-2017	31-07-2018	11-06-2018	50 d early	2018-17600275
31-12-2016	31-07-2017	31-05-2017	61 d early	2017-14300140

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

Established

Founded in 2014, 11 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

0.8% Low

0%0,5%1,5%4%10%≥25%

Higher-failure-rate sector +Annual accounts: healthy financial profile −Long track record −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€292k+47.9%

Working capital€239k-11.8%

CSV export

Annual accounts & ratios

Source: NBB · 2025

Annual accounts filed on 02-06-2026 with the NBB · fiscal year 2025 · verkort

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~20.5%/year over 8 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 43, Specialised construction · compared within the same schema type (abbreviated schema)

Metric	This company	Sector median	Position in the sector
Solvency	45.7%	38.9%	better than 59% of 334 sector peers
Net result	€292k	€40k	better than 91% of 334 sector peers
Equity	€504k	€189k	better than 74% of 334 sector peers
Gross operating margin	€1.12M	€223k	better than 90% of 334 sector peers
Staff costs	€622k	€219k	higher than 80% of 216 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P59

Stable position over 2020-2025 · n=334-992

Net result P91

Improving position over 2020-2025 · n=334-991

Equity P74

Improving position over 2020-2025 · n=334-992

Gross operating margin P90

Improving position over 2020-2025 · n=334-991

Describes the position versus peers, not a forecast.

EBITDA

€497k

+34.8% 18-25

Net profit

€292k

+47.9% 18-25

Cash flow

€384k

+34.4% 18-25

Total assets

€1.10M

+26.3% 18-25

Equity

€504k

+9.0% 18-25

Working capital

€239k

-11.8% 18-25

Employees (FTE)

10

+1.0% 18-25

Staff costs

€622k

+5.9% 18-25

Income taxes

€104k

+43.4% 18-25

Dividends

€250k

- 18-25

Debt

€598k

+46.0% 18-25

Debt ≤ 1y

€360k

+235.0% 18-25

Debt > 1y

€238k

-21.2% 18-25

Current ratio

1.66

-52.7% 18-25

Quick ratio

1.66

-52.7% 18-25

Solvency

45.7%

-13.7% 18-25

Debt / equity

1.19

+33.9% 18-25

ROE

57.8%

+35.7% 18-25

ROA

26.4%

+17.1% 18-25

Interest coverage

49.41

+58.0% 18-25

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Deposit	verkort
Revenue	-
EBITDA	€497k
Net profit	€292k
Cash flow	€384k
Staff costs	€622k
Income taxes	€104k
Dividends	€250k
Total assets	€1.10M
Equity	€504k
Debt	€598k
of which ≤ 1y	€360k
of which > 1y	€238k
Working capital	€239k
Employees (FTE)	9.8

Ratios (computed)

	2025
Current ratio	1.66
Quick ratio	1.66
Working capital ratio	21.7%
Solvency	45.7%
Debt / equity	1.19
Long-term debt ratio	0.47
Interest coverage	49.41
Gross margin	-
Net margin	-
ROA	26.4%
ROE	57.8%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €503k · 45.6% Current assets €599k · 54.4%

Equity & liabilities

Equity €504k · 45.7% Debt €598k · 54.3%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€1.10M
Fixed assets	21/28	€503k
Intangible fixed assets	21	€7k
Tangible fixed assets	22/27	€494k
Financial fixed assets	28	€2k
Current assets	29/58	€599k
Amounts receivable within one year	40/41	€327k
Cash & bank	54/58	€241k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€1.10M
Equity	10/15	€504k
Contributions / capital	10/11	€20k
Reserves	13	€484k
Accumulated profits (losses)	14	€0
Amounts payable	17/49	€598k
Amounts payable after one year	17	€238k
Amounts payable within one year	42/48	€360k
Trade debts payable within one year	44	€1k
Income statement
Gross operating margin	9900	€1.12M
Operating result	9901	€405k
Financial income	75	€766
Financial charges	65	€10k
Result before taxes	9903	€396k
Income taxes	67/77	€104k
Net result for the period	9904	€292k
Result to be appropriated	9905	€292k

You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2025 · computed

94 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.

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Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

from the Crossroads Bank

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.

Corbeillestraat 1252235 Hulshout

Establishment units

1 location

Novanet

Corbeillestraat 125, 2235 HulshoutOverige reparaties van consumentenartikelen, neg

since 20142.236.061.618

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels1

Ground area3,986 m²

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
13050B0068/00V003	Flanders	3,986 m²	-	-

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgian State Gazette · acts

No structured acts for this company yet

That means one of two things: the company has published no company deeds, or its deeds are still queued for reading. The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.

Analysis

Snowflake analysis

financial profile on 5 axes

91 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 94

Profitability 100

Solvency 83

Growth 78

Stability 100

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