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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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 23 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
55 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
NGG from Aalst, company number BE0627761927, closed financial year 2025 with a result of € -258,661 after tax. Compared with financial year 2024, the result moved from € -7.4 million to € -258,661. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 9, 2026.
€ -17.2 million
▼ € 258,661 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -258,661
▲ 97 % less loss than in 2024
Profit after tax over the fiscal year.
€ 4.4 million
▼ 27% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -34.5 million.
People and assets in 2025
26.7
▲ 4.4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 2.3 million
▼ 63% vs 2024
€ 84,900 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 138,553
▼ 41% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 1 million
▼ 58% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 153 days on average.
€ 3.4 million
▼ 23% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Profit after taxes | € -4,245,870 | € -6,057,778 | € -7,410,607 | € -258,661 | ▲ € 7.2 million |
| Equity | € -3,503,004 | € -9,560,782 | € -16,971,389 | € -17,230,050 | ▼ € 258,661 |
| Total debts | € 122,912,830 | € 154,229,985 | € 153,275,344 | € 182,743,835 | ▲ 19% |
| Cash | € 17,728 | € 5,558,433 | € 6,034,977 | € 4,420,058 | ▼ 27% |
| Retained profit | € -20,726,855 | € -26,784,633 | € -34,195,240 | € -34,453,901 | ▼ € 258,661 |
| Bank debt | € 68,144,998 | € 47,458,299 | € 0 | € 0 | |
| Balance sheet total | € 119,509,826 | € 144,669,203 | € 136,303,955 | € 165,674,385 | ▲ 22% |
| Employees (FTE) | 18.4 | 23.5 | 22.3 | 26.7 | ▲ 4.4 |
Key figures of NGG, 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 NGG?
What happened at NGG in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Pivanto BV stepped down as director. NBB
- Odds & Overlay BV stepped down as director. NBB
- Cristian Mircea Radu stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 258,661. Source: NBB ↗
- Eamonn O'Loughlinn stepped down as director. NBB
- Pivanto BV became a director. NBB
- Eamonn O'Loughlinn became a director. NBB
- Cristian Mircea Radu became a director. NBB
In short
From € 4.2 million loss in 2022 to € 258,661 loss in 2025.
Paid € 22,195 in corporate taxes since 2022.
Pays suppliers within 153 days on average.
Management
The shares are held by SB Group LTD (100%). It owns 100% of Napoleon Games International, 100% of Speelhal.net, 100% of LudenZ, 100% of Napoleon Games Sports, 100% of NGG Direct and 0.5% of E.C.K. itself.
Directors
According to the 2025 annual accounts
Cristian Mircea Radu
Director
since 2021 · until 2027
Director · represented by Philippe Joos
Also active at: E.C.K., E.T.C. EUROPA TECHNICS & Cie, NAPOLEON GAMES, OLYMPIAN GAMES, LAGAUT, SNOOK, DE CEUSTER CONTINENTAL, LUNATIM +22 more
since 2024 · until 2030
Eamonn O'Loughlinn
Director
since 2022 · until 2025
Managing director · represented by Tom De Clercq
Also active at: E.C.K., E.T.C. EUROPA TECHNICS & Cie, NAPOLEON GAMES, OLYMPIAN GAMES, LAGAUT, SNOOK, DE CEUSTER CONTINENTAL, LUNATIM +22 more
since 2016 · until 2028
Shareholders
SB Group LTD
100%
Participations
100%
100%
100%
0.5%
Establishments
Establishment units
Physical locations of this company
Korte Keppestraat 23
9320 Aalst
Korte Keppestraat 23 box 6
9320 Aalst
Active since 31 March 2015
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 55 companies are registered at this address.
All companies at this address →OLYMPIAN GAMES same network
€ 556,902 gross margin · 2025
SNOOK same network
€ 941,858 gross margin · 2025
DE CEUSTER CONTINENTAL same network
€ 1.4 million gross margin · 2025
LUNATIM same network
€ -64,151 gross margin · 2025
SPEELHAL.NET same network
€ 2.5 million gross margin · 2025
+50 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
- 0627.761.927
- VAT number
- BE 0627.761.927
- Registered office
- Korte Keppestraat 23, 9320 Aalst
- Names & denominations
- NGG
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 31 March 2015
- Peppol
- Active · Active since 1 Aug 2021
- Activities · NACE
Handel in eigen onroerend goed
Activiteiten van holdings
Holdings