Summary
ALVAN is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €4.8m and a net result of €16,747. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 56% of 2413 sector peers (fiscal year 2025). The company has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit check for your own amount and term
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-04-2026, 98 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
98 d early
2024
98 d early
2023
27 d early
2022
32 d early
2021
114 d late
2020
30 d late
2019
31 d late
← 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 11 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#3 employer in Bruges, Finance and insurance sector
Equity
€4.8m▼ 17.0%
2024 · €5.8m
Net result
€16,747▼ 98.9%
2024 · €1.6m
Total assets
€7.0m▼ 27.7%
2024 · €9.7m
Solvency
68.1%▲ 8.8pp
2024 · 59.3%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€14.6m€22.4m▲ 53.4%€23.5m▲ 4.6%€15.1m▼ 35.6%
Operating result€237,534▲ 131%-€415,380€2.5m€1.9m▼ 23.7%€31,588▼ 98.4%
Net result€652,523above the sector's middle half-€464,383below the sector's middle half€3.1mabove the sector's middle half€1.6mabove the sector's middle half▼ 48.9%€16,747within the sector's middle half▼ 98.9%
Equity€1.6mwithin the sector's middle half€1.1mwithin the sector's middle half▼ 29.4%€4.2mwithin the sector's middle half▲ 276%€5.8mwithin the sector's middle half▲ 37.5%€4.8mwithin the sector's middle half▼ 17.0%
Total assets€5.7mabove the sector's middle half▲ 56.1%€10.8mwithin the sector's middle half▲ 89.9%€9.1mwithin the sector's middle half▼ 15.9%€9.7mwithin the sector's middle half▲ 7.7%€7.0mwithin the sector's middle half▼ 27.7%
Debt€4.1m▼ 2.8%€9.6m▲ 136%€4.9m▼ 49.7%€4.0m▼ 18.2%€2.2m▼ 43.3%
Working capital€740,904€249,245▼ 66.4%€3.2m▲ 1,166%€3.0m▼ 5.0%€1.0m▼ 66.3%
Solvency27.9%within the sector's middle half▲ 43.6pp10.4%below the sector's middle half▼ 17.5pp46.4%within the sector's middle half▲ 36.0pp59.3%within the sector's middle half▲ 12.9pp68.1%within the sector's middle half▲ 8.8pp
Staff (FTE)48.9above the sector's middle half43above the sector's middle half▼ 12.1%39.2above the sector's middle half▼ 8.8%31.4above the sector's middle half▼ 19.9%
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 98% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.0m
Fixed assets
€3.8m =
Current assets
€3.3m ▼ 45.3%
Equity and liabilities €7.0m
Equity
€4.8m ▼ 17.0%
Debt
€2.2m ▼ 43.3%
Debt's share of the balance-sheet total falls from 40.7% to 31.9%. Equity and debt are lower.
Key figures and ratios
ROE
0.3%▼
2024 · 27.3%
ROA
0.2%▼
2024 · 16.2%
Debt ≤ 1 year
€2.2m▼
2024 · €3.0m
Debt > 1 year
€0▼
2024 · €1.0m
Income taxes
€529▼
2024 · €227,648
Staff costs
€2.4m▼
2024 · €2.9m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €16.0m | €23.5m | €24.8m | €16.1m | ▼ 35.3% |
| Turnover70 | - | €14.6m | €22.4m | €23.5m | €15.1m | ▼ 35.6% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | €210,115 | -€48,176 | €140,953 | -€179,188 | ▼ 227% |
| Own construction capitalised72 | - | €43,285 | €0 | - | - | - |
| Other operating income74 | - | €1.2m | €1.2m | €1.2m | €1.2m | ▼ 6.5% |
| Non-recurring operating income76A | €84,195 | €0 | - | - | - | - |
| Operating charges60/66A | - | €16.5m | €21.0m | €22.9m | €16.1m | ▼ 30.0% |
| Goods for resale, raw materials and consumables60 | - | €11.8m | €16.3m | €18.3m | €11.7m | ▼ 36.2% |
| Purchases600/8 | - | €12.5m | €16.2m | €18.2m | €11.6m | ▼ 36.3% |
| Change in stocks: decrease (increase)609 | - | -€740,134 | €130,708 | €124,770 | €107,624 | ▼ 13.7% |
| Services and other goods61 | - | €1.6m | €1.6m | €1.6m | €1.7m | ▲ 3.3% |
| Remuneration, social security and pensions62 | - | €2.8m | €3.0m | €2.9m | €2.4m | ▼ 17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,232 | €130,282 | €117,829 | €117,716 | €120,143 | ▲ 2.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €122,631 | -€38,776 | -€81,757 | €10,983 | ▲ 113% |
| Other operating charges640/8 | €2,186 | €11,057 | €8,501 | €11,994 | €10,461 | ▼ 12.8% |
| Non-recurring operating charges66A | €44 | €0 | - | - | €124,181 | - |
| Gross operating margin9900 | €240,996 | - | - | - | - | - |
| Operating profit (loss)9901 | €237,534 | -€415,380 | €2.5m | €1.9m | €31,588 | ▼ 98.4% |
| Financial income75/76B | €1.0m | €63,011 | €711,360 | €3,180 | €3,166 | ▼ 0.4% |
| Recurring financial income75 | €1.0m | €63,011 | €44,529 | €3,180 | €3,166 | ▼ 0.4% |
| Income from financial fixed assets750 | - | €0 | - | - | - | - |
| Income from current assets751 | - | €62,758 | €43,165 | €1,342 | €1,117 | ▼ 16.8% |
| Other financial income752/9 | - | €254 | €1,364 | €1,838 | €2,050 | ▲ 11.5% |
| Non-recurring financial income76B | - | - | €666,830 | €0 | - | - |
| Financial charges65/66B | €587,771 | €111,465 | €100,019 | €118,170 | €17,479 | ▼ 85.2% |
| Recurring financial charges65 | €103,588 | €107,496 | €100,019 | €118,170 | €17,479 | ▼ 85.2% |
| Debt charges650 | - | €58,005 | €45,867 | €109,871 | €7,731 | ▼ 93.0% |
| Other financial charges652/9 | - | €49,491 | €54,152 | €8,299 | €9,748 | ▲ 17.5% |
| Non-recurring financial charges66B | €484,183 | €3,969 | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | €658,558 | -€463,833 | €3.1m | €1.8m | €17,276 | ▼ 99.0% |
| Income taxes67/77 | €6,035 | €550 | €43,302 | €227,648 | €529 | ▼ 99.8% |
| Taxes670/3 | - | €550 | €43,302 | €227,648 | €529 | ▼ 99.8% |
| Profit (loss) for the period9904 | €652,523 | -€464,383 | €3.1m | €1.6m | €16,747 | ▼ 98.9% |
| Transfer from tax-exempt reserves789 | €3.1m | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €3.8m | -€464,383 | €3.1m | €1.6m | €16,747 | ▼ 98.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.7m | €10.8m | €9.1m | €9.7m | €7.0m | ▼ 27.7% |
| Fixed assets21/28 | €3.5m | €4.5m | €3.7m | €3.8m | €3.8m | = |
| Intangible fixed assets21 | €299,918 | €828,739 | €736,657 | €644,574 | €434,804 | ▼ 32.5% |
| Tangible fixed assets22/27 | €6,096 | €417,797 | €620,499 | €747,816 | €958,616 | ▲ 28.2% |
| Plant, machinery and equipment23 | - | €116,745 | €103,132 | €88,823 | €74,988 | ▼ 15.6% |
| Furniture and vehicles24 | €6,096 | €9,895 | €15,199 | €11,371 | €24,105 | ▲ 112% |
| Other tangible fixed assets26 | - | €32,289 | €34,030 | €28,619 | €101,585 | ▲ 255% |
| Assets under construction and advance payments27 | - | €258,868 | €468,138 | €619,003 | €757,938 | ▲ 22.4% |
| Financial fixed assets28 | €3.2m | €3.3m | €2.4m | €2.4m | €2.4m | = |
| Affiliated companies280/1 | - | €3.2m | €2.3m | €2.3m | €2.3m | = |
| Participating interests280 | - | €3.2m | €2.3m | €2.3m | €2.3m | = |
| Other financial fixed assets284/8 | - | €125,000 | €125,412 | €126,352 | €127,133 | ▲ 0.6% |
| Amounts receivable and cash guarantees285/8 | - | €125,000 | €125,412 | €126,352 | €127,133 | ▲ 0.6% |
| Current assets29/58 | €2.2m | €6.2m | €5.3m | €6.0m | €3.3m | ▼ 45.3% |
| Stocks and contracts in progress3 | - | €950,250 | €771,365 | €787,549 | €500,736 | ▼ 36.4% |
| Stocks30/36 | - | €740,134 | €609,426 | €484,657 | €377,032 | ▼ 22.2% |
| Raw materials and consumables30/31 | - | €740,134 | €609,426 | €484,657 | €377,032 | ▼ 22.2% |
| Contracts in progress37 | - | €210,115 | €161,939 | €302,892 | €123,704 | ▼ 59.2% |
| Amounts receivable within one year40/41 | €513,213 | €4.6m | €3.9m | €3.6m | €1.8m | ▼ 49.5% |
| Trade receivables40 | €97,053 | €3.0m | €3.5m | €3.5m | €1.8m | ▼ 49.3% |
| Other amounts receivable41 | €416,160 | €1.6m | €385,284 | €119,002 | €51,171 | ▼ 57.0% |
| Cash at bank and in hand54/58 | €1.7m | €583,269 | €605,358 | €1.6m | €925,204 | ▼ 41.2% |
| Deferred charges and accrued income490/1 | - | €42,858 | €18,821 | €26,868 | €29,147 | ▲ 8.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.7m | €10.8m | €9.1m | €9.7m | €7.0m | ▼ 27.7% |
| Equity10/15 | €1.6m | €1.1m | €4.2m | €5.8m | €4.8m | ▼ 17.0% |
| Contributions10/11 | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | = |
| Reserves13 | €19,127 | €19,127 | €2.6m | €2.6m | €3.2m | ▲ 22.5% |
| Non-distributable reserves130/1 | €6,250 | €0 | - | - | - | - |
| Reserves not available under the articles1311 | €6,250 | €0 | - | - | - | - |
| Distributable reserves133 | €12,877 | €19,127 | €2.6m | €2.6m | €3.2m | ▲ 22.5% |
| Profit (loss) carried forward14 | - | -€464,383 | €0 | €1.6m | €0 | ▼ 100% |
| Amounts payable17/49 | €4.1m | €9.6m | €4.9m | €4.0m | €2.2m | ▼ 43.3% |
| Amounts payable after more than one year17 | €2.6m | €3.7m | €2.7m | €1.0m | €0 | ▼ 100% |
| Financial debts170/4 | €2.6m | €3.7m | €2.7m | €1.0m | €0 | ▼ 100% |
| Other loans174 | - | €3.7m | €2.7m | €1.0m | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €1.4m | €6.0m | €2.1m | €3.0m | €2.2m | ▼ 24.2% |
| Financial debts43 | €108,735 | €2.4m | €108,735 | €108,735 | €108,735 | = |
| Credit institutions430/8 | - | €2.2m | €0 | - | - | - |
| Other loans439 | €108,735 | €213,121 | €108,735 | €108,735 | €108,735 | = |
| Trade debts44 | €322,900 | €1.1m | €1.4m | €2.1m | €1.6m | ▼ 24.4% |
| Suppliers440/4 | €322,900 | €1.1m | €1.4m | €2.1m | €1.6m | ▼ 24.4% |
| Advances received on contracts in progress46 | - | €597 | €0 | - | - | - |
| Taxes, remuneration and social security45 | - | €801,182 | €667,843 | €758,338 | €552,813 | ▼ 27.1% |
| Taxes450/3 | - | €152,211 | €90,881 | €225,709 | €157,799 | ▼ 30.1% |
| Remuneration and social security454/9 | - | €648,972 | €576,962 | €532,629 | €395,014 | ▼ 25.8% |
| Other amounts payable47/48 | €1.0m | €1.6m | €0 | - | - | - |
| Accrued charges and deferred income492/3 | €14,096 | €9,178 | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €652,523 | -€464,383 | €3.1m | €1.6m | €16,747 | ▼ 98.9% |
| + Depreciation and write-downs630 | €1,232 | €130,282 | €117,829 | €117,716 | €120,143 | ▲ 2.1% |
| Operating cash flow (approximation) | €653,755 | -€334,101 | €3.2m | €1.7m | €136,890 | ▼ 91.9% |
| Investment in fixed assets (approximation) | - | -€1.2m | €682,164 | -€153,890 | -€121,955 | ▲ 20.8% |
| Change in cash | - | -€1.1m | €22,089 | €967,014 | -€647,168 | ▼ 167% |
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
02-09
State Gazette act
Permanent representatives: Olivier Garaud and GERARD MURAResignation: Olivier Garaud (director)4 facts ▸
State Gazette act
Permanent representatives: Olivier Garaud and GERARD MURA
Resignation: Olivier Garaud (director)4 facts ▸
- General meeting, 18-07-2026
- Permanent representative, Olivier Garaud (permanent representative)
- Director resignation, Olivier Garaud (director)
- Permanent representative, GERARD MURA (permanent representative)
24-04
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
24-04
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Equity above €5mEq €5.8m ▲37.5%
2 profitable years in a row build equity to €5.8m.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Back to profitnet €3.1m
Net result €3.1m after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 2.47
Current ratio from 1.04 to 2.47; short-term debt falls from €6.0m to €2.1m.
31-12
Financial
Equity above €2mEq €4.2m ▲276%
Equity rises from €1.1m to €4.2m.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Weakest financial yearnet -€464,383
Net result drops to -€464,383, the lowest in the series; recovery starts the following year.
22-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 114 days late
2021
31-12
Financial
Back to profitnet €652,523
Net result €652,523 after one loss-making year.
Show earlier events
31-12
Financial
Liquidity times 21current ratio 1.51
Current ratio from 0.07 to 1.51; short-term debt falls from €2.3m to €1.4m.
31-12
Financial
Equity above €1mEq €1.6m
Equity rises from -€570,896 to €1.6m.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 31 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 28 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 30 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
no sitting director, last change in 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Not every act has been read: a resignation may be missing here
8 of this company's 9 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Brugge · 1 establishment unit since 1995
Ground area
1.6 ha
Building footprint
9,869 m²
Parcel 31808K0590/00L007, Flanders. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
Laconiastraat 1B, 8000 Brugge
since 19952.074.164.757
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31808K0590/00L007 | Flanders | 1.6 ha | 1 · 9,869 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 0 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Olivier Garaud |
|
Structure & network
Owners and holdings
2 holdingsOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 2
-
100%
- The European Van Company Sp. Z O.o.PLsubsidiarySourceown accounts 2025Equity PLN 28.9mResult PLN 7.3m100%
According to the 2025 annual accounts of ALVAN and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 1,952 EUR awarded · 2,828 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 572 EUR | 572 EUR |
| 2024 | 1 | 768 EUR | 768 EUR |
| 2023 | 1 | 516 EUR | 1,392 EUR |
| 2022 | 1 | 96 EUR | 96 EUR |
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Identification & contact
Identification
Legal formPrivate limited company
Founded08-11-1995
Fiscal year end31-12
Activities, NACEBEL 2025
29202Manufacture of motor vehicles, trailers and semi-trailers
64210Activities of holding companies
25110Manufacture of metal structures and parts of structures
29320Manufacture of motor vehicles, trailers and semi-trailers
46713Wholesale trade
46720Wholesale of motor vehicle parts and accessories
E-invoicing
Reachable via Peppol
Peppol ID
0208:0456405586
Also
9925:BE0456405586
Registered
16-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.