A.V.W.
ActiveSummary
A.V.W. has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €65,106 and a net result of €15,839. Equity is growing by ~10.1% per year across the filed fiscal years. Its solvency ranks better than 31% of 28806 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability60▲+12
Solvency55=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days acceptable
Liquidity tight (current ratio 1.49 against 1.38 in 2024; short-term debt: 66.1% and cash: 2.3% of total assets), and 69.9% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
30.1%
Return on assets
7.3%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-08-2026, 21 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
21 d late
2024
59 d late
2023
68 d late
2022
28 d late
2021
61 d early
2020
59 d early
2019
59 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average on the deadline day; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 28 August (4 of the last 5 filed years within 41 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#7 oldest company in Keerbergen, Construction sector
Equity
€65,106▲ 32.1%
2024 · €49,268
Total assets
€216,303▲ 30.7%
2024 · €165,522
Net result
€15,839▲ 85.7%
2024 · €8,530
Working capital
€69,719▲ 59.3%
2024 · €43,764
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€27,765▲ 124%€112▼ 99.6%-€7,178€18,594€22,862▲ 23.0%
Net result€24,090within the sector's middle half▲ 190%-€4,595below the sector's middle half-€10,577below the sector's middle half▼ 130%€8,530within the sector's middle half€15,839within the sector's middle half▲ 85.7%
Equity€55,910within the sector's middle half▲ 75.7%€51,315within the sector's middle half▼ 8.2%€40,737within the sector's middle half▼ 20.6%€49,268within the sector's middle half▲ 20.9%€65,106within the sector's middle half▲ 32.1%
Total assets€105,790within the sector's middle half▲ 71.1%€145,998within the sector's middle half▲ 38.0%€128,062within the sector's middle half▼ 12.3%€165,522within the sector's middle half▲ 29.3%€216,303within the sector's middle half▲ 30.7%
Debt€49,880▲ 66.3%€94,683▲ 89.8%€87,324▼ 7.8%€116,255▲ 33.1%€151,197▲ 30.1%
Working capital€47,345within the sector's middle half▲ 73.7%€39,493within the sector's middle half▼ 16.6%€29,728within the sector's middle half▼ 24.7%€43,764within the sector's middle half▲ 47.2%€69,719within the sector's middle half▲ 59.3%
Solvency52.9%within the sector's middle half▲ 1.4pp35.1%within the sector's middle half▼ 17.7pp31.8%within the sector's middle half▼ 3.3pp29.8%within the sector's middle half▼ 2.0pp30.1%within the sector's middle half▲ 0.3pp
Current ratio2.32within the sector's middle half▲ 0.351.45within the sector's middle half▼ 0.871.35within the sector's middle half▼ 0.111.38within the sector's middle half▲ 0.041.49within the sector's middle half▲ 0.10
Return on assets (ROA)22.8%above the sector's middle half▲ 9.3pp-3.1%below the sector's middle half▼ 25.9pp-8.3%below the sector's middle half▼ 5.1pp5.2%within the sector's middle half▲ 13.4pp7.3%within the sector's middle half▲ 2.2pp
Staff (FTE)3.4▲ 47.8%3.9▲ 14.7%3▼ 23.1%3=3.4▲ 13.3%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 23% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €216,303
Fixed assets
€3,572 ▼ 55.4%
Current assets
€212,731 ▲ 35.1%
Equity and liabilities €216,303
Equity
€65,106 ▲ 32.1%
Debt
€151,197 ▲ 30.1%
Debt's share of the balance-sheet total falls from 70.2% to 69.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€27,294▲
2024 · €23,599
Cash flow
€20,271▲
2024 · €13,536
Quick ratio
1.45▲
2024 · 1.21
Debt to equity
2.32▼
2024 · 2.36
ROE
24.3%▲
2024 · 17.3%
Interest coverage
3.87▲
2024 · 2.71
Debt ≤ 1 year
€143,013▲
2024 · €113,755
Staff costs
€196,241▲
2024 · €190,727
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,371 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,371 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €146,819 | €204,586 | €177,879 | €190,727 | €196,241 | ▲ 2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,630 | €6,061 | €6,433 | €5,005 | €4,432 | ▼ 11.5% |
| Other operating charges640/8 | €1,950 | €1,537 | €2,567 | €2,652 | €2,508 | ▼ 5.4% |
| Gross operating margin9900 | €180,165 | €212,297 | €179,700 | €216,978 | €226,044 | ▲ 4.2% |
| Operating profit (loss)9901 | €27,765 | €112 | -€7,178 | €18,594 | €22,862 | ▲ 23.0% |
| Financial income75/76B | €251 | €304 | €2,472 | €1,340 | €26 | ▼ 98.1% |
| Recurring financial income75 | €251 | €304 | €2,472 | €1,340 | €26 | ▼ 98.1% |
| Financial charges65/66B | €3,771 | €4,822 | €5,676 | €8,706 | €7,050 | ▼ 19.0% |
| Recurring financial charges65 | €3,771 | €4,822 | €5,426 | €8,706 | €7,050 | ▼ 19.0% |
| Non-recurring financial charges66B | - | - | €250 | - | - | - |
| Profit (loss) for the period before taxes9903 | €24,245 | -€4,405 | -€10,382 | €11,228 | €15,839 | ▲ 41.1% |
| Income taxes67/77 | €155 | €190 | €195 | €2,698 | - | - |
| Profit (loss) for the period9904 | €24,090 | -€4,595 | -€10,577 | €8,530 | €15,839 | ▲ 85.7% |
| Profit (loss) for the period to be appropriated9905 | €24,090 | -€4,595 | -€10,577 | €8,530 | €15,839 | ▲ 85.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €105,790 | €145,998 | €128,062 | €165,522 | €216,303 | ▲ 30.7% |
| Fixed assets21/28 | €22,628 | €19,442 | €13,009 | €8,004 | €3,572 | ▼ 55.4% |
| Tangible fixed assets22/27 | €22,591 | €19,405 | €12,972 | €7,967 | €3,535 | ▼ 55.6% |
| Plant, machinery and equipment23 | €4,220 | €2,424 | €669 | €341 | €40 | ▼ 88.3% |
| Furniture and vehicles24 | €18,371 | €16,981 | €12,304 | €7,626 | €3,495 | ▼ 54.2% |
| Financial fixed assets28 | €37 | €37 | €37 | €37 | €37 | = |
| Current assets29/58 | €83,162 | €126,556 | €115,053 | €157,519 | €212,731 | ▲ 35.1% |
| Amounts receivable after more than one year29 | - | - | - | - | €34,136 | - |
| Other amounts receivable291 | - | - | - | - | €34,136 | - |
| Stocks and contracts in progress3 | €9,749 | €10,750 | €15,438 | €19,794 | €4,662 | ▼ 76.4% |
| Stocks30/36 | €9,749 | €10,750 | €15,438 | €19,794 | €4,662 | ▼ 76.4% |
| Amounts receivable within one year40/41 | €49,749 | €103,179 | €90,529 | €129,755 | €162,065 | ▲ 24.9% |
| Trade receivables40 | €39,058 | €92,000 | €82,901 | €94,464 | €115,080 | ▲ 21.8% |
| Other amounts receivable41 | €10,691 | €11,179 | €7,628 | €35,291 | €46,985 | ▲ 33.1% |
| Cash at bank and in hand54/58 | €16,638 | €4,728 | €3,878 | - | €5,047 | - |
| Deferred charges and accrued income490/1 | €7,025 | €7,899 | €5,209 | €7,969 | €6,822 | ▼ 14.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €105,790 | €145,998 | €128,062 | €165,522 | €216,303 | ▲ 30.7% |
| Equity10/15 | €55,910 | €51,315 | €40,737 | €49,268 | €65,106 | ▲ 32.1% |
| Contributions10/11 | €63,592 | €63,592 | €63,592 | €63,592 | €63,592 | = |
| Reserves13 | €66,559 | €66,559 | €66,559 | €66,559 | €66,559 | = |
| Distributable reserves133 | €66,559 | €66,559 | €66,559 | €66,559 | €66,559 | = |
| Profit (loss) carried forward14 | -€74,241 | -€78,836 | -€89,414 | -€80,884 | -€65,045 | ▲ 19.6% |
| Amounts payable17/49 | €49,880 | €94,683 | €87,324 | €116,255 | €151,197 | ▲ 30.1% |
| Amounts payable after more than one year17 | €12,063 | €5,620 | - | - | - | - |
| Financial debts170/4 | €12,063 | €5,620 | - | - | - | - |
| Amounts payable within one year42/48 | €35,816 | €87,063 | €85,324 | €113,755 | €143,013 | ▲ 25.7% |
| Current portion of amounts payable after more than one year42 | €6,032 | €6,500 | €6,115 | - | €30,000 | - |
| Financial debts43 | - | - | €4,778 | €33,380 | €19,979 | ▼ 40.1% |
| Credit institutions430/8 | - | - | €4,778 | €33,380 | €19,979 | ▼ 40.1% |
| Trade debts44 | €8,551 | €45,252 | €58,297 | €52,162 | €78,307 | ▲ 50.1% |
| Suppliers440/4 | €8,551 | €45,252 | €58,297 | €52,162 | €78,307 | ▲ 50.1% |
| Taxes, remuneration and social security45 | €21,234 | €35,311 | €16,134 | €28,213 | €14,727 | ▼ 47.8% |
| Taxes450/3 | €2,146 | €3,971 | €2,142 | €3,709 | €2,827 | ▼ 23.8% |
| Remuneration and social security454/9 | €19,088 | €31,340 | €13,992 | €24,504 | €11,900 | ▼ 51.4% |
| Accrued charges and deferred income492/3 | €2,000 | €2,000 | €2,000 | €2,500 | €8,184 | ▲ 227% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,090 | -€4,595 | -€10,577 | €8,530 | €15,839 | ▲ 85.7% |
| + Depreciation and write-downs630 | €3,630 | €6,061 | €6,433 | €5,005 | €4,432 | ▼ 11.5% |
| Operating cash flow (approximation) | €27,720 | €1,466 | -€4,145 | €13,536 | €20,271 | ▲ 49.8% |
| Investment in fixed assets (approximation) | - | -€2,875 | €0 | €0 | €0 | - |
| Change in cash | - | -€11,910 | -€851 | - | - | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
21-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 21 days late
2025
28-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 59 days late
2024
31-12
Financial
Back to profitnet €8,530
Net result €8,530 after 2 loss-making years.
07-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 68 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
31-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
02-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €8,315
Net result €8,315 after one loss-making year.
02-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet -€13,382
Net result drops to -€13,382, the lowest in the series; recovery starts the following year.
05-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 24 days late
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 0 of 4 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Keerbergen · 1 establishment unit since 1995
Ground area
3,120 m²
Building footprint
272 m²
Volume, LiDAR
1,227 m³
2 parcels, Flanders · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Koningin Astridlaan 2 A, 2820 Bonheiden
since 1995unit no. 2.073.243.752
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12005C0542/00B002 | Flanders | 2,486 m² | 1 · 165 m² | 8.5 m · 1 fl. |
| 24048B0286/00N003 | Flanders | 633 m² | 1 · 107 m² | 7.0 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 7,298 companies in this sector we hold annual accounts for 2,364. 2,008 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded21-09-1995
Fiscal year end31-12
Activities, NACEBEL 2025
43230Insulation installation
43350Other building finishing work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0455978984
Also
9925:BE0455978984
Registered
09-09-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.