ACTIVE

NELCO

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Financial year 2025 · closed on 31/12/2025

Net result

16,8 k €

-82.0% YoY

Gross margin

158,7 k €

-38.7% YoY

Equity

989,1 k €

+1.7% YoY

Workforce

1,4 ETP

+40.0% YoY

What does NELCO do?

NELCO is a Private limited company incorporated in 2008. Its main activity is: Manufacture of weapons and ammunition. Its registered office is in Evergem. It employs on average 1,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0899.192.770

Incorporation

10/07/2008

Legal form

Private limited company

Registered office

Durmakker 16
9940 Evergem · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Average workforce

1,4 ETP

Activities (NACE)

25402Manufacture of weapons and ammunition· main 25502Forging, pressing, stamping and roll-forming of metal; powder metallurgy 38210Treatment and disposal of non-hazardous waste 38329Recovery of sorted materials 38210Treatment and disposal of non-hazardous waste 38321Recovery of sorted materials

Joint committees (1)

2070

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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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	158,7 k €	-38.7%	259 k €	-31.2%	376,6 k €	+39.3%	270,3 k €	-18.1%	330,1 k €	+2.8%	320,9 k €	-9.9%	356,3 k €	+290%	91,3 k €	-69.9%	303,2 k €	-1.3%	307,2 k €	+7.0%	287,1 k €	+170%	106,4 k €	-58.1%	254 k €	+35.1%	188,1 k €	+4.5%	180 k €	+325%	42,4 k €	+60.3%	26,4 k €
EBITDA	50,4 k €	-69.6%	165,9 k €	-44.2%	297,5 k €	+53.7%	193,5 k €	-25.7%	260,6 k €	+6.7%	244,2 k €	-11.9%	277,4 k €	+1560%	16,7 k €	-93.5%	257,8 k €	-13.2%	297 k €	+5.0%	282,9 k €	+170%	104,6 k €	-64.9%	298,1 k €	+59.2%	187,2 k €	+73.1%	108,2 k €	+156%	42,2 k €	+60.7%	26,3 k €
Operating result	22,9 k €	-82.4%	130 k €	-50.3%	261,6 k €	+55.5%	168,3 k €	-27.7%	232,7 k €	+6.2%	219,1 k €	-8.2%	238,8 k €	+2153%	-11,6 k €	-105%	225,8 k €	-16.8%	271,5 k €	+3.0%	263,7 k €	+205%	86,4 k €	-69.8%	285,9 k €	+62.5%	176 k €	+79.5%	98,1 k €	+146%	39,8 k €	+68.0%	23,7 k €
Net result	16,8 k €	-82.0%	93 k €	-50.0%	185,9 k €	+58.5%	117,3 k €	-26.4%	159,3 k €	+8.4%	147 k €	-12.5%	168,1 k €	+3764%	4,4 k €	-96.7%	130,4 k €	-19.9%	162,8 k €	+4.6%	155,6 k €	+179%	55,7 k €	-71.0%	191,8 k €	+66.0%	115,6 k €	+82.1%	63,5 k €	+174%	23,2 k €	+36.6%	17 k €
Balance sheet
Equity	989,1 k €	+1.7%	972,3 k €	-19.7%	1,2 M €	+18.1%	1 M €	-10.0%	1,1 M €	+9.9%	1 M €	+16.5%	888,6 k €	+23.3%	720,5 k €	-18.0%	878,2 k €	+17.4%	747,8 k €	+27.8%	585 k €	+38.2%	423,1 k €	+15.2%	367,4 k €	+89.8%	193,6 k €	+148%	78 k €	+48.5%	52,5 k €	+78.9%	29,4 k €
Total assets	1,1 M €	-2.8%	1,2 M €	-14.2%	1,3 M €	+10.1%	1,2 M €	-6.5%	1,3 M €	+9.7%	1,2 M €	+15.9%	1 M €	+23.6%	834,3 k €	-19.9%	1 M €	+23.9%	840,6 k €	+23.5%	680,9 k €	+31.2%	519 k €	+0.5%	516,4 k €	+52.9%	337,8 k €	+34.2%	251,7 k €	+117%	116,1 k €	+145%	47,4 k €
Cash	239,9 k €	-61.1%	616,2 k €	-1.5%	625,7 k €	-19.4%	776 k €	-2.7%	797,5 k €	+2.5%	778,1 k €	+90.4%	408,6 k €	+63.9%	249,4 k €	-31.9%	366,2 k €	-4.4%	383,2 k €	+11.8%	342,7 k €	+32.1%	259,5 k €	-7.2%	279,6 k €	+68.9%	165,6 k €	+30.0%	127,4 k €	+66.6%	76,5 k €	+363%	16,5 k €
Debts	134 k €	-24.4%	177,3 k €	+30.3%	136,1 k €	-31.5%	198,8 k €	+16.4%	170,8 k €	+27.1%	134,4 k €	-3.3%	139,1 k €	+27.9%	108,8 k €	-32.5%	161,1 k €	+81.3%	88,9 k €	+30.0%	68,4 k €	+0.1%	68,3 k €	-43.8%	121,5 k €	+70.3%	71,3 k €	-29.3%	100,9 k €	+65.3%	61,1 k €	+238%	18,1 k €
Other
Workforce	1,4 ETP	+40.0%	1,0 ETP		0,0 ETP		–		–		1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	+25.0%	0,8 ETP		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 3 ended

Active mandates

Arnd Nelde

Director · since 01 juillet 2008

Active

Ended mandates

Arnd Nelde

Manager · since 01 juillet 2008

Ended

Arnd Nelde

Director

Ended

Arnd Nelde

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
BTW EENHEID NELCO● Active	0685.664.591
REPOW● Active	0681.837.942

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	28/05/2026	28/08/2025	29/08/2024	28/08/2023	29/08/2022	25/08/2021
General meeting	01/03/2026	16/08/2025	03/08/2024	11/08/2023	12/08/2022	13/08/2021
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	01/03/2026	28/05/2026	Dutch	PDF
Abridged model	31/12/2024	16/08/2025	28/08/2025	Dutch	PDF
Abridged model	31/12/2023	03/08/2024	29/08/2024	Dutch	PDF
Abridged model	31/12/2022	11/08/2023	28/08/2023	Dutch	PDF
Abridged model	31/12/2021	12/08/2022	29/08/2022	Dutch	PDF
Abridged model	31/12/2020	13/08/2021	25/08/2021	Dutch	PDF
Abridged model	31/12/2019	28/08/2020	02/09/2020	Dutch	PDF
Abridged model	31/12/2018	29/08/2019	30/08/2019	Dutch	PDF
Abridged model	31/12/2017	30/08/2018	30/08/2018	Dutch	PDF
Abridged model	31/12/2016	05/04/2017	09/08/2017	Dutch	PDF
Abridged model	31/12/2015	22/08/2016	23/08/2016	Dutch	PDF
Abridged model	31/12/2014	29/08/2015	31/08/2015	Dutch	PDF
Abridged model	31/12/2013	14/07/2014	12/08/2014	Dutch	PDF
Abridged model	31/12/2012	16/03/2013	07/08/2013	Dutch	PDF
Abridged model	31/12/2011	28/07/2012	04/08/2012	Dutch	PDF
Abridged model	31/12/2010	27/08/2011	31/08/2011	Dutch	PDF
Abridged model	31/12/2009	29/05/2010	30/06/2010	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 · 3 ended

Active mandates

Arnd Nelde

Director · since 01 juillet 2008

Active

Ended mandates

Arnd Nelde

Manager · since 01 juillet 2008

Ended

Arnd Nelde

Director

Ended

Arnd Nelde

Manager

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other25/09/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DOEL
PDF
Registered office09/01/2023
MAATSCHAPPELIJKE ZETEL
PDF
Capital / shares27/09/2018
KAPITAAL - AANDELEN
PDF
Capital / shares24/12/2013
KAPITAAL - AANDELEN - ALGEMENE VERGADERING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Other22/07/2008
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 202516,8 k €↓
2024
Annual accounts 202493 k €↓
2023
Annual accounts 2023185,9 k €↑
2022
Annual accounts 2022117,3 k €↓
2021
Annual accounts 2021159,3 k €↑
2020
Annual accounts 2020147 k €↓
2019
Annual accounts 2019168,1 k €↑
2018
Annual accounts 20184,4 k €↓
2017
Annual accounts 2017130,4 k €↓
2016
Annual accounts 2016162,8 k €↑
2015
Annual accounts 2015155,6 k €↑
2014
Annual accounts 201455,7 k €↓
2013
Annual accounts 2013191,8 k €↑
2012
Annual accounts 2012115,6 k €↑
2011
Annual accounts 201163,5 k €↑
2010
Annual accounts 201023,2 k €↑
2009
Annual accounts 200917 k €
10/07/2008
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

NELCO

Overview

What does NELCO do?

Trend over 17 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