What is the address of NEFRECO?

The registered office of NEFRECO is located at Vredestraat 49 box 1, 8790 Waregem.

Is NEFRECO still active?

Yes. According to the CBE (29 October 2026) NEFRECO is active, legal situation “Normale toestand”, started on 13 November 2002.

Is NEFRECO registered on Peppol?

Yes, NEFRECO is registered on the Peppol network with ID 0208:0478768937.

What is the enterprise number of NEFRECO?

The enterprise number of NEFRECO is BE0478768937.

When was NEFRECO founded?

NEFRECO was founded on 13 November 2002.

Who are the directors of NEFRECO?

According to the 2025 annual accounts, the directors of NEFRECO are: Baluhold nv, Sufina BV.

Is NEFRECO a reliable company?

Databakkes does not pass judgement; this is what the sources say: Active according to the CBE since 13 November 2002; 5 annual accounts filed, latest fiscal year 2025; 2 directors known from the annual account.

How much profit did NEFRECO make in 2025?

NEFRECO posted a profit after taxes of € 489,147 in financial year 2025.

What is the revenue of NEFRECO?

As a small company, NEFRECO is not required to publish revenue in its annual accounts. In financial year 2025, its added value was € 132,846.

NEFRECO (Public Limited) - Waregem - BE0478768937

Q: What does NEFRECO do?

NEFRECO is registered with the CBE as active in: Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies. Public Limited, started on 13 November 2002, 1 establishment.

Dossier NEFRECO, printed on 29 October 2026 from databakkes.be/en/0478768937/nefreco. Sources: CBE, National Bank of Belgium, Belgian Official Gazette.

Warning lights

Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.

Tight liquidity NBB

Cash and receivables cover 10 % of short-term debt in 2025; threshold 65 %.
Busy address KBO

11 other companies have their registered office at the same address; threshold 10.

Financials

Financial year 2025

NEFRECO from Waregem, company number BE0478768937, closed financial year 2025 with a result of € 489,147 after tax. For that financial year NEFRECO recorded a gross margin of € 132,846 and equity of € 4.1 million. Compared with financial year 2024, the result moved from € 890,412 to € 489,147. The company is profitable. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 24, 2026.

What it is worth Growing

€ 4.1 million

▲ 13% vs 2024

Assets minus debts, by the books. What is left if everything were sold and paid today.

Profit Healthy

€ 489,147

▼ 45% vs 2024

Profit after tax over the fiscal year.

Cash in the bank

€ 14,512

▼ 54% vs 2024

Cash and bank balances on the last day of the fiscal year.

Where the profit goes Growing

Stays in the company

No dividend for 2025. Retained profit grew to € 3.7 million.

Debts at end 2025

Bank debt ≈ 5 years to go The accounts give the long-term loan and the part due within the year. The remainder divided by that part is the number of years at an equal pace; a new loan or early repayment changes it.

€ 746,556

▼ 13% vs 2024

€ 160,333 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.

Owed to suppliers

€ 1,511

▲ 217% vs 2024

Supplier invoices still open on the last day of the fiscal year.

Taxes

€ 7,154

▲ 5% vs 2024

Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.

Key figures per fiscal year Download key figures (CSV)
	2022	2023	2024	2025	Change 2024 → 2025
Gross margin	€ 146,162 Gross margin 2022: € 146,162 First fiscal year in the series	€ 129,104 Gross margin 2023: € 129,104 ▼ 12% vs 2022 (€ 146,162) Unfavourable step	€ 138,174 Gross margin 2024: € 138,174 ▲ 7% vs 2023 (€ 129,104) Favourable step	€ 132,846 Gross margin 2025: € 132,846 ▼ 4% vs 2024 (€ 138,174) Unfavourable step	▼ 4%
Profit after taxes	€ 1,297,699 Profit after taxes 2022: € 1,297,699 First fiscal year in the series	€ 1,032,432 Profit after taxes 2023: € 1,032,432 ▼ 20% vs 2022 (€ 1,297,699) Unfavourable step	€ 890,412 Profit after taxes 2024: € 890,412 ▼ 14% vs 2023 (€ 1,032,432) Unfavourable step	€ 489,147 Profit after taxes 2025: € 489,147 ▼ 45% vs 2024 (€ 890,412) Unfavourable step	▼ 45%
Equity	€ 2,877,481 Equity 2022: € 2,877,481 First fiscal year in the series	€ 3,209,912 Equity 2023: € 3,209,912 ▲ 12% vs 2022 (€ 2,877,481) Favourable step	€ 3,650,324 Equity 2024: € 3,650,324 ▲ 14% vs 2023 (€ 3,209,912) Favourable step	€ 4,139,471 Equity 2025: € 4,139,471 ▲ 13% vs 2024 (€ 3,650,324) Favourable step	▲ 13%
Total debts	€ 2,195,479 Total debts 2022: € 2,195,479 First fiscal year in the series	€ 2,573,417 Total debts 2023: € 2,573,417 ▲ 17% vs 2022 (€ 2,195,479) Unfavourable step	€ 1,314,154 Total debts 2024: € 1,314,154 ▼ 49% vs 2023 (€ 2,573,417) Favourable step	€ 755,221 Total debts 2025: € 755,221 ▼ 43% vs 2024 (€ 1,314,154) Favourable step	▼ 43%
Cash	€ 31,974 Cash 2022: € 31,974 First fiscal year in the series	€ 46,912 Cash 2023: € 46,912 ▲ 47% vs 2022 (€ 31,974) Favourable step	€ 31,894 Cash 2024: € 31,894 ▼ 32% vs 2023 (€ 46,912) Unfavourable step	€ 14,512 Cash 2025: € 14,512 ▼ 54% vs 2024 (€ 31,894) Unfavourable step	▼ 54%
Land & buildings	€ 1,750,117 Land & buildings 2022: € 1,750,117 First fiscal year in the series	€ 1,695,064 Land & buildings 2023: € 1,695,064 ▼ 3% vs 2022 (€ 1,750,117) Unchanged	€ 1,640,010 Land & buildings 2024: € 1,640,010 ▼ 3% vs 2023 (€ 1,695,064) Unchanged	€ 1,591,045 Land & buildings 2025: € 1,591,045 ▼ 3% vs 2024 (€ 1,640,010) Unchanged	▼ 3%
Retained profit	€ 2,415,981 Retained profit 2022: € 2,415,981 First fiscal year in the series	€ 2,748,412 Retained profit 2023: € 2,748,412 ▲ 14% vs 2022 (€ 2,415,981) Favourable step	€ 3,188,824 Retained profit 2024: € 3,188,824 ▲ 16% vs 2023 (€ 2,748,412) Favourable step	€ 3,677,971 Retained profit 2025: € 3,677,971 ▲ 15% vs 2024 (€ 3,188,824) Favourable step	▲ 15%
Dividend	€ 900,000 Dividend 2022: € 900,000 First fiscal year in the series	€ 700,000 Dividend 2023: € 700,000 ▼ 22% vs 2022 (€ 900,000) Unchanged	€ 450,000 Dividend 2024: € 450,000 ▼ 36% vs 2023 (€ 700,000) Unchanged	€ 0 Dividend 2025: € 0 ▼ 100% vs 2024 (€ 450,000) Unchanged	▼ 100%
Bank debt	€ 1,077,556 Bank debt 2022: € 1,077,556 First fiscal year in the series	€ 967,222 Bank debt 2023: € 967,222 ▼ 10% vs 2022 (€ 1,077,556) Favourable step	€ 856,889 Bank debt 2024: € 856,889 ▼ 11% vs 2023 (€ 967,222) Favourable step	€ 746,556 Bank debt 2025: € 746,556 ▼ 13% vs 2024 (€ 856,889) Favourable step	▼ 13%
Balance sheet total	€ 5,072,959 Balance sheet total 2022: € 5,072,959 First fiscal year in the series	€ 5,783,329 Balance sheet total 2023: € 5,783,329 ▲ 14% vs 2022 (€ 5,072,959) Unchanged	€ 4,964,478 Balance sheet total 2024: € 4,964,478 ▼ 14% vs 2023 (€ 5,783,329) Unchanged	€ 4,894,691 Balance sheet total 2025: € 4,894,691 ▼ 1% vs 2024 (€ 4,964,478) Unchanged	▼ 1%

Key figures of NEFRECO, fiscal years 2022 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 NEFRECO?

What happened at NEFRECO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:

Jun 24, 2026 New annual accounts for financial year 2025: profit of € 489,147 (▼ 45% vs 2024). Source: NBB ↗
2019 Baluhold nv became a director. NBB
2019 Sufina BV became a director. NBB
Jan 29, 2003 New establishment in Waregem. KBO
Nov 13, 2002 Start of the company according to the CBE. KBO

In short

From € 1.3 million profit in 2022 to € 489,147 profit in 2025.

Paid € 54,268 in corporate taxes since 2022.

Best year ever: 2022, with € 1.3 million profit.

Paid out € 2.1 million in dividends to the owners in total.

Original PDFs at the National Bank ↗

Management

BALUHOLD 100%

The stake of BALUHOLD comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.

NEFRECO

Behind NEFRECO are Baluhold nv and Sufina BV. The shares are held by BALUHOLD (100%).

Directors

According to the 2025 annual accounts

Baluhold nv

Managing director · represented by Frederik Constandt

Also active at: ALUFORM

since 2019

Sufina BV

Director · represented by Jochen Moortgat

Also active at: WINSOL GROUP, WINSOL INDUSTRIES, De Groote Gaston, HELIOS TRADING, WINSOL, Winbalu, Astrix, BOUWBEDRIJF VMG - DE COCK +21 more

since 2019

Shareholders

BALUHOLD

100%

Participations

No participations in other companies reported.

Establishments

Establishment units

Physical locations of this company

Registered office

Vredestraat 49 box 1

8790 Waregem

Who else lives here?

A building full of entrepreneurs or one very busy letterbox? Another 11 companies are registered at this address.

All companies at this address →

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Deelvereniging van mede-eigenaars Waregem Business Park Gebouw A

+6 more

What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.

Details

Company number

0478.768.937

VAT number

BE 0478.768.937

Registered office

Vredestraat 49 bus 1, 8790 Waregem

Names & denominations

NEFRECO

Enterprise type

Rechtspersoon

Legal form

Public limited company

Legal situation

Normale toestand

Start date

13 November 2002

Peppol

Active · Active since 19 Jan 2026

Activities · NACE

Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies

Overige adviesbureaus op het gebied van bedrijfsvoering en beheer

Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering

View on CBE Public ↗ Annual accounts (NBB) ↗

NEFRECO

Warning lights

Financials

What happened to NEFRECO?

Management

Directors

Shareholders

Participations

Establishments

Establishment units

Who else lives here?

Details

Frequently asked questions