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 50 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Narwal from Heusden-Zolder, company number BE0712779358, closed financial year 2025 with a result of € 198,955 after tax. For that financial year Narwal recorded a gross margin of € 337,197 and equity of € 184,526. Compared with financial year 2024, the result moved from € 180,873 to € 198,955. Profitable, and profit is growing. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on July 31, 2026.
€ 184,526
▼ 37% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 198,955
▲ 10% vs 2024
Profit after tax over the fiscal year.
€ 81,782
▼ 67% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 308,762 paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
€ 84,481
▼ 32% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 95,126
▼ 20% vs 2024
€ 36,556 is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 5,439
▲ 6% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 68,458
▲ 183% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 205,270 | € 313,949 | € 309,108 | € 337,197 | ▲ 9% |
| Profit after taxes | € 644,187 | € 377,520 | € 180,873 | € 198,955 | ▲ 10% |
| Equity | € 235,941 | € 613,461 | € 294,333 | € 184,526 | ▼ 37% |
| Total debts | € 746,711 | € 153,122 | € 765,240 | € 758,124 | ▼ 1% |
| Cash | € 142,952 | € 41,125 | € 246,945 | € 81,782 | ▼ 67% |
| Retained profit | € 217,341 | € 594,861 | € 275,733 | € 165,926 | ▼ 40% |
| Dividend | € 644,187 | € 0 | € 500,000 | € 308,762 | ▼ 38% |
| Bank debt | € 0 | € 0 | € 119,423 | € 95,126 | ▼ 20% |
| Balance sheet total | € 982,651 | € 766,583 | € 1,059,573 | € 942,650 | ▼ 11% |
Key figures of Narwal, 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 Narwal?
What happened at Narwal in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 198,955 (▲ 10% vs 2024). Source: NBB ↗
- Nicolas Thiel became a director. NBB
- Patricia Alen became a director. NBB
- New establishment in Heusden-Zolder. KBO
- Start of the company according to the CBE. KBO
In short
From € 644,187 profit in 2022 to € 198,955 profit in 2025.
Paid € 271,766 in corporate taxes since 2022.
Best year ever: 2022, with € 644,187 profit.
Paid out € 1.5 million in dividends to the owners in total.
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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
Behind Narwal are Nicolas Thiel and Patricia Alen. Nicolas Thiel is also behind Terlamen and Windocare. Patricia Alen is also behind BELICHA and Ravot.
Establishments
Establishment units
Physical locations of this company
Heidestraat 133
3550 Heusden-Zolder
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0712.779.358
- VAT number
- BE 0712.779.358
- Registered office
- Heidestraat 133, 3550 Heusden-Zolder
- Names & denominations
- Narwal
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 31 October 2018
- Peppol
- Active · Active since 3 Apr 2025
- Activities · NACE
Activiteiten van holdings
Holdings