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 %.
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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.
€ 4.1 million
▲ 13% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 489,147
▼ 45% vs 2024
Profit after tax over the fiscal year.
€ 14,512
▼ 54% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 3.7 million.
Debts at end 2025
€ 746,556
▼ 13% vs 2024
€ 160,333 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 1,511
▲ 217% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 7,154
▲ 5% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 146,162 | € 129,104 | € 138,174 | € 132,846 | ▼ 4% |
| Profit after taxes | € 1,297,699 | € 1,032,432 | € 890,412 | € 489,147 | ▼ 45% |
| Equity | € 2,877,481 | € 3,209,912 | € 3,650,324 | € 4,139,471 | ▲ 13% |
| Total debts | € 2,195,479 | € 2,573,417 | € 1,314,154 | € 755,221 | ▼ 43% |
| Cash | € 31,974 | € 46,912 | € 31,894 | € 14,512 | ▼ 54% |
| Land & buildings | € 1,750,117 | € 1,695,064 | € 1,640,010 | € 1,591,045 | ▼ 3% |
| Retained profit | € 2,415,981 | € 2,748,412 | € 3,188,824 | € 3,677,971 | ▲ 15% |
| Dividend | € 900,000 | € 700,000 | € 450,000 | € 0 | ▼ 100% |
| Bank debt | € 1,077,556 | € 967,222 | € 856,889 | € 746,556 | ▼ 13% |
| Balance sheet total | € 5,072,959 | € 5,783,329 | € 4,964,478 | € 4,894,691 | ▼ 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:
- New annual accounts for financial year 2025: profit of € 489,147 (▼ 45% vs 2024). Source: NBB ↗
- Baluhold nv became a director. NBB
- Sufina BV became a director. NBB
- New establishment in Waregem. KBO
- 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.
A new publication or filing at NEFRECO? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of BALUHOLD comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
NEFRECOBehind NEFRECO are Baluhold nv and Sufina BV. The shares are held by BALUHOLD (100%).
Directors
According to the 2025 annual accounts
since 2019
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
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
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 →Astrix same network
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€ 843,905 gross margin · 2025
ABRIM same network
€ 200,742 gross margin · 2025
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
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