ALV
ActiveSummary
ALV has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €179,178 and a net result of €6,662. Equity remains stable across the filed fiscal years (±1.4% per year). Its solvency ranks better than 41% of 1913 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability49▲+25
Solvency62▲+2
Growth32=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity ample (current ratio 1.5 against 1.57 in 2024; short-term debt: 18.2% and cash: 0.8% of total assets), but 63.5% 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
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
about 50% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
36.5%
Return on assets
1.4%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-01-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
10 d early
2023
33 d early
2022
77 d early
2021
34 d early
2020
93 d early
2019
70 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 45 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#8 oldest company in Moorslede, Manufacturing sector
Equity
€179,178▲ 3.9%
2024 · €172,515
Total assets
€490,810▼ 1.6%
2024 · €498,980
Net result
€6,662
2024 · -€9,893
Working capital
€44,947▼ 7.4%
2024 · €48,515
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€7,564▼ 28.6%€8,183▲ 8.2%-€4,493-€3,431▲ 23.6%€14,214
Net result€189▼ 72.5%€980▲ 419%-€11,695-€9,893▲ 15.4%€6,662
Equity€193,123▲ 0.1%€194,103▲ 0.5%€182,408▼ 6.0%€172,515▼ 5.4%€179,178▲ 3.9%
Total assets€530,638▼ 2.9%€518,170▼ 2.3%€506,229▼ 2.3%€498,980▼ 1.4%€490,810▼ 1.6%
Debt€337,515▼ 4.6%€324,067▼ 4.0%€323,820▼ 0.1%€326,465▲ 0.8%€311,633▼ 4.5%
Working capital€94,741▼ 3.4%€88,005▼ 7.1%€86,169▼ 2.1%€48,515▼ 43.7%€44,947▼ 7.4%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €14,214 after a loss of €3,431 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €490,810
Fixed assets
€356,707 ▼ 2.5%
Current assets
€134,103 ▲ 0.6%
Equity and liabilities €490,810
Equity
€179,178 ▲ 3.9%
Debt
€311,633 ▼ 4.5%
Debt's share of the balance-sheet total falls from 65.4% to 63.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€23,241▲
2024 · €6,288
Cash flow
€15,689▲
2024 · -€173
Current ratio
1.50▼
2024 · 1.57
Debt to equity
1.74▼
2024 · 1.89
ROE
3.7%▲
2024 · -5.7%
ROA
1.4%▲
2024 · -2.0%
Interest coverage
3.38▲
2024 · 0.97
Debt ≤ 1 year
€89,156▲
2024 · €84,731
Debt > 1 year
€222,477▼
2024 · €241,734
Income taxes
€666
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,684 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 14,684 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,661 | €10,379 | €9,859 | €9,720 | €9,027 | ▼ 7.1% |
| Other operating charges640/8 | - | €641 | €2,884 | €2,816 | €1,599 | ▼ 43.2% |
| Gross operating margin9900 | €24,864 | €19,203 | €8,249 | €9,105 | €24,840 | ▲ 173% |
| Operating profit (loss)9901 | €7,564 | €8,183 | -€4,493 | -€3,431 | €14,214 | ▲ 514% |
| Financial income75/76B | - | - | - | €0 | - | - |
| Recurring financial income75 | - | - | - | €0 | - | - |
| Financial charges65/66B | - | €6,984 | €6,750 | €6,462 | €6,886 | ▲ 6.6% |
| Recurring financial charges65 | €7,224 | €6,984 | €6,750 | €6,462 | €6,886 | ▲ 6.6% |
| Profit (loss) for the period before taxes9903 | €340 | €1,199 | -€11,243 | -€9,893 | €7,329 | ▲ 174% |
| Income taxes67/77 | €151 | €219 | €451 | - | €666 | - |
| Profit (loss) for the period9904 | €189 | €980 | -€11,695 | -€9,893 | €6,662 | ▲ 167% |
| Profit (loss) for the period to be appropriated9905 | €189 | €980 | -€11,695 | -€9,893 | €6,662 | ▲ 167% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €530,638 | €518,170 | €506,229 | €498,980 | €490,810 | ▼ 1.6% |
| Fixed assets21/28 | €395,692 | €385,313 | €375,454 | €365,734 | €356,707 | ▼ 2.5% |
| Tangible fixed assets22/27 | €395,692 | €385,313 | €375,454 | €365,734 | €356,707 | ▼ 2.5% |
| Land and buildings22 | - | €383,788 | €374,761 | €365,734 | €356,707 | ▼ 2.5% |
| Plant, machinery and equipment23 | - | - | - | - | €0 | - |
| Furniture and vehicles24 | - | €1,525 | €693 | - | €0 | - |
| Current assets29/58 | €134,946 | €132,857 | €130,775 | €133,246 | €134,103 | ▲ 0.6% |
| Amounts receivable within one year40/41 | €129,344 | €128,863 | €125,950 | €129,191 | €130,195 | ▲ 0.8% |
| Trade receivables40 | - | - | - | - | €6 | - |
| Other amounts receivable41 | - | €128,863 | €125,950 | €129,191 | €130,189 | ▲ 0.8% |
| Cash at bank and in hand54/58 | €5,602 | €3,994 | €3,384 | €3,174 | €3,908 | ▲ 23.1% |
| Deferred charges and accrued income490/1 | - | - | €1,441 | €882 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €530,638 | €518,170 | €506,229 | €498,980 | €490,810 | ▼ 1.6% |
| Equity10/15 | €193,123 | €194,103 | €182,408 | €172,515 | €179,178 | ▲ 3.9% |
| Contributions10/11 | - | €12,197 | €12,197 | €12,197 | €12,197 | = |
| Reserves13 | €55,491 | €55,491 | €55,491 | €55,491 | €166,980 | ▲ 201% |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | €1,859 | - | - |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | €1,859 | - | - |
| Distributable reserves133 | - | €53,632 | €53,632 | €53,632 | €166,980 | ▲ 211% |
| Profit (loss) carried forward14 | €125,435 | €126,415 | €114,720 | €104,827 | - | - |
| Amounts payable17/49 | €337,515 | €324,067 | €323,820 | €326,465 | €311,633 | ▼ 4.5% |
| Amounts payable after more than one year17 | €297,310 | €279,215 | €279,215 | €241,734 | €222,477 | ▼ 8.0% |
| Financial debts170/4 | - | €279,215 | €279,215 | €241,734 | €222,477 | ▼ 8.0% |
| Amounts payable within one year42/48 | €40,205 | €44,852 | €44,606 | €84,731 | €89,156 | ▲ 5.2% |
| Current portion of amounts payable after more than one year42 | - | €18,095 | - | €21,737 | €20,946 | ▼ 3.6% |
| Trade debts44 | €2,827 | €493 | €22 | €1,907 | €0 | ▼ 100% |
| Suppliers440/4 | - | €493 | €22 | €1,907 | €0 | ▼ 100% |
| Advances received on contracts in progress46 | - | - | - | €650 | €650 | = |
| Taxes, remuneration and social security45 | - | - | - | - | €666 | - |
| Taxes450/3 | - | - | - | - | €666 | - |
| Other amounts payable47/48 | - | €26,264 | €44,584 | €60,437 | €66,894 | ▲ 10.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €189 | €980 | -€11,695 | -€9,893 | €6,662 | ▲ 167% |
| + Depreciation and write-downs630 | €16,661 | €10,379 | €9,859 | €9,720 | €9,027 | ▼ 7.1% |
| Operating cash flow (approximation) | €16,850 | €11,359 | -€1,836 | -€173 | €15,689 | ▲ 9,156% |
| Investment in fixed assets (approximation) | - | €0 | €1 | €0 | €0 | - |
| Change in cash | - | -€1,608 | -€610 | -€210 | €735 | ▲ 450% |
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
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Back to profitnet €6,662
Net result €6,662 after 2 loss-making years.
21-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
29-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
30-06
Financial
Weakest financial yearnet -€11,695
Net result drops to -€11,695, the lowest in the series; recovery starts the following year.
2022
15-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
28-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
22-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
15-11
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
21-11
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
07-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Moorslede · 1 establishment unit since 1995
Ground area
1,165 m²
Building footprint
283 m²
Volume, LiDAR
1,481 m³
2 parcels, Flanders · tallest building 9.2 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
ALV
since 19952.072.770.531
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36012A0247/00H000 | Flanders | 789 m² | 1 · 197 m² | 7.8 m · 2 fl. |
| 33037A0537/00B004 | Flanders | 376 m² | 1 · 86 m² | 9.2 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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ARDENNE SYSTEMS
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V D P
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WTI
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Of 3,984 companies in sector 25110 we hold annual accounts for 2,145. 1,665 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded13-06-1995
Fiscal year end30-06
Activities, NACEBEL 2025
25110Manufacture of metal structures and parts of structures
25120Manufacture of fabricated metal products, except machinery and equipment
43320Joinery installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0455407080
Also
9925:BE0455407080
Registered
10-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.