ACTIVE

N.E.L.

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Financial year 2025 · closed on 31/12/2025

Net result

350,5 k €

+26.4% YoY

Gross margin

1 M €

+11.5% YoY

Equity

1 M €

-24.5% YoY

Workforce

12,2 ETP

+0.8% YoY

What does N.E.L. do?

N.E.L. is a Private limited company incorporated in 2009. Its main activity is: Building completion and finishing. Its registered office is in Etterbeek. It employs on average 12,2 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0810.705.907

Incorporation

26/03/2009

Legal form

Private limited company

Registered office

Chaussée de Wavre 818
1040 Etterbeek · BruxellesSee on map

Contributed capital

6 200,00 €

Latest accounts

31/12/2025

Average workforce

12,2 ETP

Activities (NACE)

43350Building completion and finishing· main 43390Other building completion and finishing 47110Retail sale in non-specialised stores with food, beverages or tobacco predominating 47112Retail sale in non-specialised stores with food, beverages or tobacco predominating

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009
Income statement
Gross margin	1 M €	+11.5%	909,9 k €	+11.5%	816 k €	+27.0%	642,6 k €	+0.9%	636,7 k €	+21.6%	523,5 k €	+70.5%	307 k €	-14.5%	359,1 k €	+19.5%	300,6 k €	+37.0%	219,5 k €	-12.1%	249,5 k €	+54.1%	161,9 k €	+65.8%	97,7 k €	-45.3%	178,6 k €	+50.2%	118,9 k €	+126%	52,6 k €	+2628%	-2,1 k €
EBITDA	662,3 k €	+18.7%	558,2 k €	+12.7%	495,4 k €	+40.4%	352,9 k €	-9.7%	390,8 k €	+13.4%	344,6 k €	+85.9%	185,4 k €	-14.7%	217,4 k €	+19.9%	181,3 k €	+26.7%	143,1 k €	-35.8%	222,7 k €	+63.1%	136,5 k €	+51.1%	90,4 k €	-37.8%	145,2 k €	+44.3%	100,6 k €	+141%	41,8 k €	+2038%	-2,2 k €
Operating result	592,1 k €	+41.0%	420,1 k €	-3.2%	434 k €	+54.7%	280,6 k €	-13.2%	323,3 k €	+15.1%	281 k €	+131%	121,5 k €	-12.9%	139,5 k €	+34.7%	103,6 k €	+33.9%	77,4 k €	-40.7%	130,4 k €	+12.2%	116,2 k €	+61.0%	72,2 k €	-43.4%	127,6 k €	+49.6%	85,3 k €	+187%	29,7 k €	+509%	-7,3 k €
Net result	350,5 k €	+26.4%	277,3 k €	-6.3%	295,9 k €	+56.7%	188,8 k €	-4.6%	197,9 k €	+7.0%	184,9 k €	+135%	78,8 k €	-6.4%	84,3 k €	+50.5%	56 k €	+39.0%	40,3 k €	-44.1%	72,1 k €	-1.5%	73,2 k €	+64.1%	44,6 k €	-48.1%	86,1 k €	+40.3%	61,3 k €	+197%	20,6 k €	+306%	-10 k €
Balance sheet
Equity	1 M €	-24.5%	1,4 M €	+25.2%	1,1 M €	+24.0%	887,2 k €	+17.5%	754,9 k €	+6.6%	708,4 k €	+35.3%	523,4 k €	+15.9%	451,6 k €	+21.2%	372,5 k €	+17.7%	316,5 k €	+14.6%	276,2 k €	+35.3%	204,1 k €	+56.0%	130,8 k €	+12.6%	116,2 k €	+93.2%	60,1 k €	+582%	8,8 k €	+330%	-3,8 k €
Total assets	2,5 M €	+9.4%	2,2 M €	+39.1%	1,6 M €	+5.9%	1,5 M €	+11.3%	1,4 M €	+1.1%	1,4 M €	+21.2%	1,1 M €	+8.5%	1 M €	+18.5%	868,4 k €	+1.3%	857,2 k €	-1.8%	872,8 k €	+106%	423,5 k €	+44.6%	292,8 k €	+18.9%	246,2 k €	+88.6%	130,5 k €	+57.5%	82,9 k €	+26.4%	65,6 k €
Cash	1,3 M €	+11.0%	1,1 M €	+12.7%	1 M €	+13.6%	882,4 k €	+28.5%	686,9 k €	+16.7%	588,4 k €	+173%	215,8 k €	+45.1%	148,7 k €	+82.1%	81,7 k €	-47.4%	155,2 k €	-32.6%	230,2 k €	-28.7%	322,9 k €	+38.3%	233,4 k €	+46.5%	159,3 k €	+294%	40,5 k €	+140%	16,8 k €	+251%	4,8 k €
Debts	1,4 M €	+63.5%	863,9 k €	+69.0%	511,3 k €	-18.4%	626,4 k €	+2.1%	613,6 k €	-4.9%	644,9 k €	+8.7%	593,2 k €	+2.8%	577,3 k €	+16.4%	495,9 k €	-8.3%	540,7 k €	-9.4%	596,6 k €	+172%	219,4 k €	+35.5%	162 k €	+24.6%	130 k €	+84.7%	70,4 k €	-4.9%	74 k €	+6.7%	69,4 k €
Other
Workforce	12,2 ETP	+0.8%	12,1 ETP	+14.2%	10,6 ETP	+1.0%	10,5 ETP	+23.5%	8,5 ETP	+23.2%	6,9 ETP	+43.8%	4,8 ETP	-14.3%	5,6 ETP	+19.1%	4,7 ETP	+38.2%	3,4 ETP		–		–		–		0,8 ETP	0.0%	0,8 ETP	0.0%	0,8 ETP		–

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 31/12/2025 · 1 active · 23 ended

Active mandates

Emilia NIEDBALO

Director · since 26 mars 2009

Active

Ended mandates

Ewelina GOLEBICKA

Associate · since 01 octobre 2019 · until 31 mars 2024

Ended

Ewelina GOLEBICKA

Associate · since 01 octobre 2019

Ended

Emilia MOSIEJ

Associate · since 01 juillet 2018

Ended

Artur ROKICKI

Associate · since 01 mai 2016

Ended

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	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	17/09/2026	30/09/2025	30/08/2024	06/10/2023	21/11/2022	25/11/2021
General meeting	29/05/2026	30/05/2025	31/05/2024	26/05/2023	27/05/2022	28/05/2021
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

17 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	29/05/2026	17/09/2026	French	PDF
Abridged model	31/12/2024	30/05/2025	30/09/2025	French	PDF
Abridged model	31/12/2023	31/05/2024	30/08/2024	French	PDF
Abridged model	31/12/2022	26/05/2023	06/10/2023	French	PDF
Abridged model	31/12/2021	27/05/2022	21/11/2022	French	PDF
Abridged model	31/12/2020	28/05/2021	25/11/2021	French	PDF
Abridged model	31/12/2019	30/11/2020	30/11/2020	French	PDF
Abridged model	31/12/2018	31/05/2019	15/11/2019	French	PDF
Abridged model	31/12/2017	25/05/2018	14/10/2019	French	PDF
Abridged model	31/12/2016	26/05/2017	02/03/2018	French	PDF
Abridged model	31/12/2015	27/05/2016	29/11/2016	French	PDF
Abridged model	31/12/2014	29/05/2015	29/11/2016	French	PDF
Abridged model	31/12/2013	20/10/2014	28/04/2015	French	PDF
Abridged model	31/12/2012	31/05/2013	31/12/2013	French	PDF
Abridged model	31/12/2011	25/11/2012	30/11/2012	French	PDF
Abridged model	31/12/2010	09/12/2011	17/04/2012	French	PDF
Abridged model	31/12/2009	09/12/2011	17/04/2012	French	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 31/12/2025 · 1 active · 23 ended

Active mandates

Emilia NIEDBALO

Director · since 26 mars 2009

Active

Ended mandates

Ewelina GOLEBICKA

Associate · since 01 octobre 2019 · until 31 mars 2024

Ended

Ewelina GOLEBICKA

Associate · since 01 octobre 2019

Ended

Emilia MOSIEJ

Associate · since 01 juillet 2018

Ended

Artur ROKICKI

Associate · since 01 mai 2016

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates02/01/2025
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Mandates21/06/2022
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Mandates20/01/2020
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Mandates18/07/2019
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Mandates05/09/2016
DEMISSIONS, NOMINATIONS
PDF
Mandates01/03/2013
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Registered office20/04/2012
SIEGE SOCIAL - CAPITAL, ACTIONS
PDF
Other03/04/2009
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
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 2025350,5 k €↑
2024
Annual accounts 2024277,3 k €↓
2023
Annual accounts 2023295,9 k €↑
2022
Annual accounts 2022188,8 k €↓
2021
Annual accounts 2021197,9 k €↑
2020
Annual accounts 2020184,9 k €↑
2019
Annual accounts 201978,8 k €↓
2018
Annual accounts 201884,3 k €↑
2017
Annual accounts 201756 k €↑
2016
Annual accounts 201640,3 k €↓
2015
Annual accounts 201572,1 k €↓
2014
Annual accounts 201473,2 k €↑
2013
Annual accounts 201344,6 k €↓
2012
Annual accounts 201286,1 k €↑
2011
Annual accounts 201161,3 k €↑
2010
Annual accounts 201020,6 k €↑
2009
Annual accounts 2009-10 k €
26/03/2009
IncorporationPrivate 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

N.E.L.

Overview

What does N.E.L. do?

Trend over 17 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