ACTIVE

NERO - INVEST

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Financial year 2025 · closed on 30/09/2025

Net result

-51,4 k €

+46.6% YoY

Gross margin

-31,6 k €

+54.2% YoY

Equity

941,7 k €

-23.6% YoY

What does NERO - INVEST do?

NERO - INVEST is a Public limited company incorporated in 2003. Its registered office is in Aalst.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0479.990.246

Incorporation

11/04/2003

Legal form

Public limited company

Registered office

Pontweg 130
9310 Aalst · FlandreSee on map

Contributed capital

75 000,00 €

Latest accounts

30/09/2025

Joint committees (1)

Signals

Solid equityLow riskGood liquidity

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	-31,6 k €	+54.2%	-69,1 k €	-156%	122,7 k €	-75.5%	500,4 k €	-7.1%	538,9 k €	+52.5%	353,3 k €	+480%	60,9 k €	-20.1%	76,2 k €	+25.3%	60,8 k €	+70.3%	35,7 k €	-31.6%	52,2 k €	-25.0%	69,5 k €	-4.7%	73 k €	+2.5%	71,2 k €	-13.6%	82,5 k €	-20.4%	103,6 k €	-0.2%	103,8 k €	-37.5%	166,1 k €	+0.4%	165,4 k €
EBITDA	-36,9 k €	+54.4%	-80,8 k €	-175%	107,5 k €	-78.4%	498,7 k €	-6.9%	535,9 k €	+52.4%	351,6 k €	+497%	58,9 k €	-20.5%	74,1 k €	+31.6%	56,3 k €	+164%	21,3 k €	-40.4%	35,7 k €	-22.5%	46,1 k €	+8.8%	42,4 k €	-20.0%	53 k €	-10.2%	59 k €	-28.2%	82,2 k €	-1.7%	83,6 k €	-38.7%	136,5 k €	-7.3%	147,2 k €
Operating result	-52 k €	+45.6%	-95,5 k €	-211%	85,9 k €	-82.2%	482 k €	-8.0%	523,7 k €	+61.1%	325,1 k €	+1070%	27,8 k €	-29.2%	39,2 k €	+390%	8 k €	+1137%	646,6 €	-96.0%	16,2 k €	-37.8%	26,1 k €	+17.8%	22,1 k €	-31.7%	32,4 k €	-8.9%	35,6 k €	-39.8%	59,1 k €	-6.5%	63,1 k €	-45.5%	115,9 k €	-11.4%	130,9 k €
Net result	-51,4 k €	+46.6%	-96,3 k €	-274%	55,2 k €	-83.1%	327,5 k €	-10.4%	365,5 k €	+61.5%	226,3 k €	+826%	24,4 k €	-19.3%	30,3 k €	+186%	10,6 k €	+58.2%	6,7 k €	-56.5%	15,4 k €	-13.6%	17,8 k €	+45.1%	12,3 k €	-33.7%	18,5 k €	+10.4%	16,8 k €	-45.6%	30,8 k €	-9.9%	34,2 k €	-47.9%	65,5 k €	-21.5%	83,5 k €
Balance sheet
Equity	941,7 k €	-23.6%	1,2 M €	-7.2%	1,3 M €	+4.3%	1,3 M €	+34.6%	945,9 k €	+63.0%	580,5 k €	+40.1%	414,2 k €	+6.3%	389,8 k €	+8.4%	359,5 k €	+3.0%	348,9 k €	+2.0%	342,2 k €	+4.7%	326,8 k €	+5.8%	309 k €	+4.1%	296,8 k €	+6.6%	278,3 k €	+6.4%	261,5 k €	+13.3%	230,7 k €	+17.4%	196,6 k €	+50.0%	131 k €
Total assets	1,2 M €	-3.3%	1,3 M €	-12.8%	1,4 M €	-8.2%	1,6 M €	+36.0%	1,1 M €	+34.2%	856,5 k €	+77.3%	483 k €	+1.1%	477,8 k €	+1.0%	473,1 k €	+10.8%	427,1 k €	-4.2%	445,6 k €	-1.8%	453,8 k €	+1.7%	446,1 k €	-1.0%	450,5 k €	-1.7%	458,1 k €	-2.3%	468,7 k €	+1.4%	462,1 k €	+0.4%	460,1 k €	+9.8%	419,2 k €
Cash	236,4 k €	-14.4%	276,2 k €	-37.8%	443,8 k €	+1.7%	436,3 k €	+966%	40,9 k €	+41.3%	29 k €	-20.6%	36,5 k €	+302%	9,1 k €	+67.3%	5,4 k €	+425%	1 k €		–		40,7 k €	-67.8%	126,2 k €	+2.4%	123,2 k €	-0.2%	123,5 k €	+13.3%	109 k €	-2.4%	111,7 k €	+988%	10,3 k €	-84.4%	65,8 k €
Debts	269,8 k €	+1231%	20,3 k €	-81.1%	107,1 k €	-63.1%	290 k €	+42.4%	203,7 k €	-26.1%	275,6 k €	+300%	68,9 k €	-21.8%	88 k €	-22.6%	113,7 k €	+45.3%	78,2 k €	-24.3%	103,4 k €	-18.2%	126,4 k €	-7.8%	137 k €	-10.9%	153,7 k €	-14.5%	179,8 k €	-13.0%	206,8 k €	-10.5%	231 k €	-12.1%	262,8 k €	-8.8%	288,1 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		0,2 ETP	-60.0%	0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP	-44.4%	0,9 ETP	+12.5%	0,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 1 active · 16 ended

Active mandates

Mehmet Baykondu

Director

Active

Ended mandates

Mehmet Baykondu

Managing director · since 16 mars 2015 · until 16 mars 2021

Ended

Sevda Baykondu

Mandate · since 16 mars 2015 · until 16 mars 2021

Ended

Sevda Baykondu

Director · since 16 mars 2015 · until 16 mars 2021

Ended

Naciye Baykondu

Mandate · since 08 septembre 2011 · until 08 septembre 2017

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Micro model	Micro model	Micro model
Start of the financial year	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	17/03/2026	10/04/2025	12/04/2024	10/04/2023	28/03/2022	28/04/2021
General meeting	16/03/2026	17/03/2025	18/03/2024	20/03/2023	21/03/2022	31/03/2021
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	30/09/2025	16/03/2026	17/03/2026	Dutch	PDF
Abridged model	30/09/2024	17/03/2025	10/04/2025	Dutch	PDF
Abridged model	30/09/2023	18/03/2024	12/04/2024	Dutch	PDF
Micro model	30/09/2022	20/03/2023	10/04/2023	Dutch	PDF
Micro model	30/09/2021	21/03/2022	28/03/2022	Dutch	PDF
Micro model	30/09/2020	31/03/2021	28/04/2021	Dutch	PDF
Micro model	30/09/2019	31/03/2020	30/04/2020	Dutch	PDF
Micro model	30/09/2018	18/03/2019	29/04/2019	Dutch	PDF
Micro model	30/09/2017	19/03/2018	11/04/2018	Dutch	PDF
Abridged model	30/09/2016	20/03/2017	10/04/2017	Dutch	PDF
Abridged model	30/09/2015	21/03/2016	31/03/2016	Dutch	PDF
Abridged model	30/09/2014	16/03/2015	31/03/2015	Dutch	PDF
Abridged model	30/09/2013	17/03/2014	28/03/2014	Dutch	PDF
Abridged model	30/09/2012	18/03/2013	22/03/2013	Dutch	PDF
Abridged model	30/09/2011	19/03/2012	20/03/2012	Dutch	PDF
Abridged model	30/09/2010	21/03/2011	28/03/2011	Dutch	PDF
Abridged model	30/09/2009	15/03/2010	16/03/2010	Dutch	PDF
Abridged model	30/09/2008	16/03/2009	20/03/2009	Dutch	PDF
Abridged model	30/09/2007	17/03/2008	31/03/2008	Dutch	PDF
Abridged model	30/09/2006	19/03/2007	29/03/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 30/09/2025 · 1 active · 16 ended

Active mandates

Mehmet Baykondu

Director

Active

Ended mandates

Mehmet Baykondu

Managing director · since 16 mars 2015 · until 16 mars 2021

Ended

Sevda Baykondu

Mandate · since 16 mars 2015 · until 16 mars 2021

Ended

Sevda Baykondu

Director · since 16 mars 2015 · until 16 mars 2021

Ended

Naciye Baykondu

Mandate · since 08 septembre 2011 · until 08 septembre 2017

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Registered office16/10/2025
MAATSCHAPPELIJKE ZETEL
PDF
Mandates12/01/2024
ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Mandates25/03/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/04/2015
HERBENOEMING/BENOEMING EN ONTSLAG BESTUURDER
PDF
Mandates28/12/2011
ONTSLAGEN - BENOEMINGEN
PDF
Registered office29/01/2010
MAATSCHAPPELIJKE ZETEL
PDF
Mandates15/01/2010
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/05/2003
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 2025-51,4 k €↑
2024
Annual accounts 2024-96,3 k €↓
2023
Annual accounts 202355,2 k €↓
2022
Annual accounts 2022327,5 k €↓
2021
Annual accounts 2021365,5 k €↑
2020
Annual accounts 2020226,3 k €↑
2019
Annual accounts 201924,4 k €↓
2018
Annual accounts 201830,3 k €↑
2017
Annual accounts 201710,6 k €↑
2016
Annual accounts 20166,7 k €↓
2015
Annual accounts 201515,4 k €↓
2014
Annual accounts 201417,8 k €↑
2013
Annual accounts 201312,3 k €↓
2012
Annual accounts 201218,5 k €↑
2011
Annual accounts 201116,8 k €↓
2010
Annual accounts 201030,8 k €↓
2009
Annual accounts 200934,2 k €↓
2008
Annual accounts 200865,5 k €↓
2007
Annual accounts 200783,5 k €
11/04/2003
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

NERO - INVEST

Overview

What does NERO - INVEST do?

Trend over 19 financial years

Indicative valuation

Board of directors

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