Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 21 % of short-term debt in 2025; threshold 65 %.
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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
NICRA from Gent, company number BE0426888387, closed financial year 2025 with a result of € -63,906 after tax. For that financial year NICRA recorded a gross margin of € -47,915 and equity of € 216,237. Compared with financial year 2023, the result moved from € 549,271 to € -63,906. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on August 11, 2026.
€ 216,237
▼ 26% vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -63,906
▼ still € 549,271 profit in 2023
Profit after tax over the fiscal year.
€ 98,740
▲ € 98,403 vs 2023
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 115,145.
People and assets in 2025
€ 4,411
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 384,854
▲ € 370,253 vs 2023
Supplier invoices still open on the last day of the fiscal year.
€ 24,990
▼ 69% vs 2023
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2021 | 2022 | 2023 | 2025 | Change 2023 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 5,199 | € 28,232 | € 870,911 | € -47,915 | ▼ € 918,826 |
| Profit after taxes | € -18,756 | € 14,098 | € 549,271 | € -63,906 | ▼ € 613,177 |
| Equity | € -270,474 | € -256,377 | € 292,894 | € 216,237 | ▼ 26% |
| Total debts | € 1,496,310 | € 1,393,352 | € 825,420 | € 1,049,325 | ▲ 27% |
| Cash | € 344 | € 6,012 | € 337 | € 98,740 | ▲ € 98,403 |
| Land & buildings | € 311,234 | € 316,721 | € 307,815 | € 331,451 | ▲ 8% |
| Retained profit | € -371,566 | € -357,469 | € 191,802 | € 115,145 | ▼ 40% |
| Bank debt | € 1,159,227 | € 1,159,227 | € 7,896 | € 0 | ▼ 100% |
| Balance sheet total | € 1,375,836 | € 1,286,975 | € 1,268,314 | € 1,415,562 | ▲ 12% |
Key figures of NICRA, fiscal years 2021 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to NICRA?
What happened at NICRA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 63,906 (▼ € 613,177 vs 2023). filed late Source: NBB ↗
- MOHAMED KUCUK became a director. NBB
- New establishment in Gent. KBO
- Start of the company according to the CBE. KBO
In short
From € 18,756 loss in 2021 to € 63,906 loss in 2025.
Paid € 91,668 in corporate taxes since 2021.
Best year ever: 2023, with € 549,271 profit.
Management
Behind NICRA are INVAST NV and MOHAMED KUCUK. The same people are also behind BELVAS. MOHAMED KUCUK is also behind INVAST.
Establishments
Establishment units
Physical locations of this company
Koningsdonkstraat 108
9050 Gent
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0426.888.387
- VAT number
- BE 0426.888.387
- Registered office
- Koningsdonkstraat 108, 9050 Gent
- Names & denominations
- NICRA
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 11 May 1984
- Peppol
- Not registered
- Activities · NACE
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