ACTIVE

NORIN

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Financial year 2025 · closed on 30/11/2025

Net result

99,4 k €

+1685.8% YoY

Gross margin

-5 k €

-4.2% YoY

Equity

4,6 M €

+2.2% YoY

What does NORIN do?

NORIN is a Public limited company incorporated in 1989. Its registered office is in Bruxelles.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0437.131.191

Incorporation

23/03/1989

Legal form

Public limited company

Registered office

Avenue Louise 188
1050 Bruxelles · BruxellesSee on map

Contributed capital

62 000,00 €

Latest accounts

30/11/2025

Signals

ProfitableSolid equityPositive cashflow

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	-5 k €	-4.2%	-4,8 k €	+75.0%	-19,1 k €	-860%	-2 k €	+12.4%	-2,3 k €	-19.0%	-1,9 k €	-36.0%	-1,4 k €	+43.3%	-2,5 k €	+69.4%	-8,1 k €	-5149%	-153,6 €	+50.0%	-307,3 €	-101%	-152,7 €	+80.9%	-798,5 €	-455%	-144 €	+89.7%	-1,4 k €	-186%	-488,3 €	+76.7%	-2,1 k €	-693%	-263,7 €	+49.2%	-519,1 €
EBITDA	-5,9 k €	-2.6%	-5,7 k €	+71.6%	-20,2 k €	-915%	-2 k €	+12.4%	-2,3 k €	-15.9%	-2 k €	-32.8%	-1,5 k €	+47.7%	-2,8 k €	+66.5%	-8,4 k €	-1284%	-607,9 €	+51.9%	-1,3 k €	-12.1%	-1,1 k €	+8.7%	-1,2 k €	-111%	-586 €	+68.0%	-1,8 k €	-218%	-577,3 €	+73.8%	-2,2 k €	-524%	-352,7 €	+49.5%	-698,2 €
Operating result	-5,9 k €	-2.6%	-5,7 k €	+71.6%	-20,2 k €	-915%	-2 k €	+12.4%	-2,3 k €	-15.9%	-2 k €	-32.8%	-1,5 k €	+47.7%	-2,8 k €	+66.5%	-8,4 k €	-1284%	-607,9 €	+51.9%	-1,3 k €	-12.1%	-1,1 k €	+8.7%	-1,2 k €	-111%	-586 €	+68.0%	-1,8 k €	-218%	-577,3 €	+73.8%	-2,2 k €	-524%	-352,7 €	+49.5%	-698,2 €
Net result	99,4 k €	+1686%	-6,3 k €	+69.6%	-20,6 k €	-815%	-2,3 k €	+13.8%	-2,6 k €	-101%	207,9 k €	+133%	89,3 k €	+3162%	-2,9 k €	-100%	866,8 k €	+2308%	36 k €	-25.9%	48,5 k €	-1.4%	49,3 k €	-1.0%	49,7 k €	+40.2%	35,5 k €	+30.3%	27,2 k €	-4.2%	28,4 k €	+6.3%	26,8 k €	-7.8%	29 k €	-2.6%	29,8 k €
Balance sheet
Equity	4,6 M €	+2.2%	4,5 M €	-0.1%	4,5 M €	-0.5%	4,5 M €	-0.0%	4,5 M €	-0.1%	4,5 M €	+4.8%	4,3 M €	+206%	1,4 M €	-6.0%	1,5 M €	+153%	594,4 k €	+6.4%	558,4 k €	+9.5%	509,9 k €	+10.7%	460,6 k €	+12.1%	410,9 k €	+9.4%	375,4 k €	+7.8%	348,2 k €	+8.9%	319,8 k €	+9.1%	293 k €	+11.0%	264 k €
Total assets	4,9 M €	-0.2%	5 M €	-0.1%	5 M €	-0.5%	5 M €	-2.4%	5,1 M €	-1.2%	5,2 M €	+1.6%	5,1 M €	+2.0%	5 M €	-1.9%	5,1 M €	+751%	597,9 k €	+7.1%	558,4 k €	+9.5%	509,9 k €	-27.0%	698,2 k €	+7.5%	649,7 k €	+5.8%	614,3 k €	+4.9%	585,8 k €	+5.1%	557,3 k €	+5.0%	530,6 k €	-9.5%	586,6 k €
Cash	1,7 k €	-76.6%	7,4 k €	-83.2%	43,9 k €	-37.2%	70 k €	-63.6%	192,1 k €	+255%	54,1 k €	-68.2%	170 k €	+147%	68,8 k €	-61.3%	177,6 k €	+73.8%	102,1 k €	+63.0%	62,7 k €	+347%	14 k €	-93.1%	202,2 k €	+31.4%	153,9 k €	+72.0%	89,5 k €	+46.7%	61 k €	+87.3%	32,6 k €	+465%	5,8 k €	-93.7%	90,8 k €
Debts	348,2 k €	-23.8%	457,1 k €	-0.2%	458,1 k €	-1.2%	463,4 k €	-20.6%	583,3 k €	-9.2%	642,5 k €	-16.2%	766,4 k €	-78.6%	3,6 M €	-0.2%	3,6 M €	+102429%	3,5 k €		–		–		237,6 k €	-0.5%	238,8 k €	+0.0%	238,8 k €	+0.5%	237,6 k €	0.0%	237,6 k €	0.0%	237,6 k €	-26.4%	322,6 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/11/2025 · 3 active · 18 ended

Active mandates

Audrey REYNDERS

Director · since 13 mai 2020

Active

Julien REYNDERS

Director · since 13 mai 2020

Active

Olivier REYNDERS

Managing director · since 13 mai 2020

Active

Ended mandates

Audray REYNDERS

Director · since 13 mai 2020 · until 13 mai 2026

Ended

Julien REYNDERS

Director · since 13 mai 2020 · until 13 mai 2026

Ended

Olivier REYNDERS

Managing director · since 13 mai 2020 · until 13 mai 2026

Ended

Dominique FONTAINE

Director · since 14 mai 2014 · until 13 mai 2020

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/12/2024	01/12/2023	01/12/2022	01/12/2021	01/12/2020	01/12/2019
Closing of the financial year	30/11/2025	30/11/2024	30/11/2023	30/11/2022	30/11/2021	30/11/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	09/07/2026	10/06/2025	04/06/2024	26/06/2023	25/07/2022	23/08/2021
General meeting	13/05/2026	14/05/2025	08/05/2024	10/05/2023	11/05/2022	12/05/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/11/2025	13/05/2026	09/07/2026	Dutch	PDF
Abridged model	30/11/2024	14/05/2025	10/06/2025	Dutch	PDF
Abridged model	30/11/2023	08/05/2024	04/06/2024	Dutch	PDF
Abridged model	30/11/2022	10/05/2023	26/06/2023	Dutch	PDF
Abridged model	30/11/2021	11/05/2022	25/07/2022	Dutch	PDF
Abridged model	30/11/2020	12/05/2021	23/08/2021	Dutch	PDF
Abridged model	30/11/2019	13/05/2020	11/08/2020	Dutch	PDF
Abridged model	30/11/2018	08/05/2019	28/05/2019	Dutch	PDF
Abridged model	30/11/2017	09/05/2018	29/05/2018	Dutch	PDF
Abridged model	30/11/2016	10/05/2017	29/05/2017	Dutch	PDF
Abridged model	30/11/2015	11/05/2016	24/05/2016	Dutch	PDF
Abridged model	30/11/2014	13/05/2015	18/05/2015	Dutch	PDF
Abridged model	30/11/2013	14/05/2014	26/05/2014	Dutch	PDF
Abridged model	30/11/2012	08/05/2013	10/06/2013	Dutch	PDF
Abridged model	30/11/2011	09/05/2012	28/06/2012	Dutch	PDF
Abridged model	30/11/2010	11/05/2011	30/06/2011	Dutch	PDF
Abridged model	30/11/2009	12/05/2010	31/05/2010	Dutch	PDF
Abridged model	30/11/2008	13/05/2009	22/06/2009	Dutch	PDF
Abridged model	30/11/2007	14/05/2008	09/06/2008	Dutch	PDF
Abridged model	30/11/2006	09/05/2007	28/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 30/11/2025 · 3 active · 18 ended

Active mandates

Audrey REYNDERS

Director · since 13 mai 2020

Active

Julien REYNDERS

Director · since 13 mai 2020

Active

Olivier REYNDERS

Managing director · since 13 mai 2020

Active

Ended mandates

Audray REYNDERS

Director · since 13 mai 2020 · until 13 mai 2026

Ended

Julien REYNDERS

Director · since 13 mai 2020 · until 13 mai 2026

Ended

Olivier REYNDERS

Managing director · since 13 mai 2020 · until 13 mai 2026

Ended

Dominique FONTAINE

Director · since 14 mai 2014 · until 13 mai 2020

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates21/09/2026
Benoeming en ontslag van bestuurders
PDF
Registered office21/03/2024
MAATSCHAPPELIJKE ZETEL
PDF
Other21/09/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates20/01/2021
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares31/01/2018
KAPITAAL - AANDELEN
PDF
Mandates16/06/2014
ONTSLAGEN - BENOEMINGEN
PDF
Other06/02/2012
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates22/08/2008
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 202599,4 k €↑
2024
Annual accounts 2024-6,3 k €↑
2023
Annual accounts 2023-20,6 k €↓
2022
Annual accounts 2022-2,3 k €↑
2021
Annual accounts 2021-2,6 k €↓
2020
Annual accounts 2020207,9 k €↑
2019
Annual accounts 201989,3 k €↑
2018
Annual accounts 2018-2,9 k €↓
2017
Annual accounts 2017866,8 k €↑
2015
Annual accounts 201536 k €↓
2014
Annual accounts 201448,5 k €↓
2013
Annual accounts 201349,3 k €↓
2012
Annual accounts 201249,7 k €↑
2011
Annual accounts 201135,5 k €↑
2010
Annual accounts 201027,2 k €↓
2009
Annual accounts 200928,4 k €↑
2008
Annual accounts 200826,8 k €↓
2007
Annual accounts 200729 k €↓
2006
Annual accounts 200629,8 k €
23/03/1989
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

NORIN

Overview

What does NORIN do?

Trend over 19 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline