ALVAR
ActiveSummary
ALVAR has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €121,720 and a net result of €1,544. Equity is growing by ~16.1% per year across the filed fiscal years. Its solvency ranks better than 17% of 870 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▲+1
Solvency37▲+2
Growth46▼-22
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity tight (current ratio 1.14 against 1.03 in 2024; short-term debt: 55% and cash: 0.4% of total assets), and 88.3% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five 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 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% 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
11.7%
Return on assets
0.1%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 870 sector peers (2025).
NBB · sector comparisonPosition among 870 sector peers
Solvency
better than 17%
← weakest
strongest →
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
27 d late
2024
8 d early
2023
on the day
2022
41 d early
2021
95 d late
2020
19 d late
2019
68 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 23 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 49% 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
Turnover
€1.1m▼ 27.1%
2024 · €1.5m
EBIT margin
3.6%▼ 0.7pp
2024 · 4.3%
Net result
€1,544▼ 91.4%
2024 · €18,005
Working capital
€81,272▲ 290%
2024 · €20,850
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, 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€1.7m▼ 8.8%€1.7m▼ 0.4%€1.7m▼ 4.3%€1.5m▼ 9.0%€1.1m▼ 27.1%
Operating result€30,365▼ 7.6%€23,502▼ 22.6%€41,006▲ 74.5%€65,257▲ 59.1%€40,078▼ 38.6%
Net result€17,710within the sector's middle half▼ 23.3%€10,006within the sector's middle half▼ 43.5%€13,512within the sector's middle half▲ 35.0%€18,005within the sector's middle half▲ 33.3%€1,544within the sector's middle half▼ 91.4%
EBIT margin1.7%=1.4%▼ 0.4pp2.5%▲ 1.1pp4.3%▲ 1.8pp3.6%▼ 0.7pp
Equity€84,654within the sector's middle half▲ 21.0%€91,659within the sector's middle half▲ 8.3%€103,171within the sector's middle half▲ 12.6%€120,176within the sector's middle half▲ 16.5%€121,720below the sector's middle half▲ 1.3%
Total assets€814,137within the sector's middle half▼ 6.5%€885,102within the sector's middle half▲ 8.7%€1.3mwithin the sector's middle half▲ 44.5%€1.3mwithin the sector's middle half▼ 2.2%€1.0mwithin the sector's middle half▼ 16.8%
Debt€729,483▼ 8.9%€793,443▲ 8.8%€1.2m▲ 48.1%€1.1m▼ 3.8%€918,520▼ 18.8%
Working capital-€58,746▲ 36.3%-€137,361▼ 134%-€133,518▲ 2.8%€20,850€81,272▲ 290%
Solvency10.4%below the sector's middle half▲ 2.4pp10.4%below the sector's middle half=8.1%below the sector's middle half▼ 2.3pp9.6%below the sector's middle half▲ 1.5pp11.7%below the sector's middle half▲ 2.1pp
Staff (FTE)13.2within the sector's middle half▼ 7.0%11.5within the sector's middle half▼ 12.9%10.7within the sector's middle half▼ 7.0%8.7within the sector's middle half▼ 18.7%7.8within the sector's middle half▼ 10.3%
above
within
below
the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 39% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.0m
Fixed assets
€386,614 ▼ 38.4%
Current assets
€653,626 ▲ 4.9%
Equity and liabilities €1.0m
Equity
€121,720 ▲ 1.3%
Debt
€918,520 ▼ 18.8%
Debt's share of the balance-sheet total falls from 90.4% to 88.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€192,937▼
2024 · €241,507
Cash flow
€154,403▼
2024 · €194,254
Current ratio
1.14▲
2024 · 1.03
Quick ratio
1.13▲
2024 · 1.03
Debt to equity
7.55▼
2024 · 9.41
ROE
1.3%▼
2024 · 15.0%
ROA
0.1%▼
2024 · 1.4%
Interest coverage
5.96▼
2024 · 6.28
Debt ≤ 1 year
€572,354▼
2024 · €602,209
Debt > 1 year
€343,725▼
2024 · €528,395
Income taxes
€3,470▼
2024 · €3,705
Staff costs
€335,738▼
2024 · €426,639
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,972 companies that looked in July 2024 the way this one looks now, 1.2% went bankrupt within 24 months and 96% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.2%
went bankrupt
2.2%
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 0.9% 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 3,972 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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | €1.9m | €1.8m | €1.7m | €1.6m | €1.3m | ▼ 19.3% |
| Turnover70 | €1.7m | €1.7m | €1.7m | €1.5m | €1.1m | ▼ 27.1% |
| Other operating income74 | €151,079 | €72,326 | €68,670 | €88,390 | €190,401 | ▲ 115% |
| Operating charges60/66A | €1.9m | €1.8m | €1.7m | €1.5m | €1.3m | ▼ 18.4% |
| Goods for resale, raw materials and consumables60 | €85,897 | €53,509 | €81,710 | €70,353 | €44,136 | ▼ 37.3% |
| Purchases600/8 | €85,897 | €53,509 | €81,710 | €70,353 | €51,391 | ▼ 27.0% |
| Change in stocks: decrease (increase)609 | €0 | - | - | - | -€7,255 | - |
| Services and other goods61 | €1.1m | €1.1m | €966,506 | €857,324 | €715,445 | ▼ 16.5% |
| Remuneration, social security and pensions62 | €516,536 | €482,196 | €449,257 | €426,639 | €335,738 | ▼ 21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €148,958 | €132,160 | €186,292 | €176,249 | €152,859 | ▼ 13.3% |
| Other operating charges640/8 | €4,704 | €4,710 | €4,089 | €4,112 | €3,578 | ▼ 13.0% |
| Non-recurring operating charges66A | €1,746 | €0 | - | - | - | - |
| Operating profit (loss)9901 | €30,365 | €23,502 | €41,006 | €65,257 | €40,078 | ▼ 38.6% |
| Financial income75/76B | €3,195 | €3,287 | €2,880 | €1,287 | €72 | ▼ 94.4% |
| Recurring financial income75 | €3,195 | €3,287 | €2,880 | €1,287 | €72 | ▼ 94.4% |
| Income from current assets751 | - | - | €3 | €36 | €0 | ▼ 100% |
| Other financial income752/9 | €3,195 | €3,287 | €2,878 | €1,251 | €72 | ▼ 94.2% |
| Financial charges65/66B | €8,332 | €11,163 | €22,813 | €44,835 | €35,136 | ▼ 21.6% |
| Recurring financial charges65 | €8,332 | €11,163 | €22,813 | €44,835 | €35,136 | ▼ 21.6% |
| Debt charges650 | €6,719 | €9,179 | €20,258 | €38,473 | €32,378 | ▼ 15.8% |
| Other financial charges652/9 | €1,614 | €1,984 | €2,555 | €6,362 | €2,758 | ▼ 56.6% |
| Profit (loss) for the period before taxes9903 | €25,227 | €15,625 | €21,073 | €21,710 | €5,014 | ▼ 76.9% |
| Income taxes67/77 | €7,517 | €5,619 | €7,561 | €3,705 | €3,470 | ▼ 6.4% |
| Taxes670/3 | €7,517 | €5,619 | €7,561 | €3,705 | €3,470 | ▼ 6.4% |
| Profit (loss) for the period9904 | €17,710 | €10,006 | €13,512 | €18,005 | €1,544 | ▼ 91.4% |
| Transfer to tax-exempt reserves689 | - | - | - | €13,327 | €0 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | €17,710 | €10,006 | €13,512 | €4,678 | €1,544 | ▼ 67.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €814,137 | €885,102 | €1.3m | €1.3m | €1.0m | ▼ 16.8% |
| Fixed assets21/28 | €375,099 | €427,689 | €799,114 | €627,721 | €386,614 | ▼ 38.4% |
| Tangible fixed assets22/27 | €374,559 | €427,014 | €798,439 | €627,181 | €386,074 | ▼ 38.4% |
| Plant, machinery and equipment23 | €2,792 | €1,338 | €3,104 | €1,656 | €234 | ▼ 85.9% |
| Furniture and vehicles24 | €8,525 | €167,720 | €109,460 | €299,344 | €141,253 | ▼ 52.8% |
| Leasing and similar rights25 | €354,992 | €257,956 | €685,876 | €326,181 | €244,587 | ▼ 25.0% |
| Other tangible fixed assets26 | €8,250 | €0 | - | - | - | - |
| Financial fixed assets28 | €540 | €675 | €675 | €540 | €540 | = |
| Other financial fixed assets284/8 | €540 | €675 | €675 | €540 | €540 | = |
| Amounts receivable and cash guarantees285/8 | €540 | €675 | €675 | €540 | €540 | = |
| Current assets29/58 | €439,037 | €457,414 | €479,430 | €623,059 | €653,626 | ▲ 4.9% |
| Stocks and contracts in progress3 | €0 | €0 | €0 | €0 | €7,255 | - |
| Stocks30/36 | - | - | - | - | €7,255 | - |
| Raw materials and consumables30/31 | - | - | - | - | €7,255 | - |
| Amounts receivable within one year40/41 | €390,797 | €397,261 | €455,055 | €597,815 | €622,419 | ▲ 4.1% |
| Trade receivables40 | €287,761 | €356,527 | €425,240 | €571,885 | €610,040 | ▲ 6.7% |
| Other amounts receivable41 | €103,036 | €40,734 | €29,815 | €25,930 | €12,379 | ▼ 52.3% |
| Cash at bank and in hand54/58 | €11,556 | €29,170 | €12,720 | €5,398 | €4,043 | ▼ 25.1% |
| Deferred charges and accrued income490/1 | €36,685 | €30,982 | €11,656 | €19,845 | €19,909 | ▲ 0.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €814,137 | €885,102 | €1.3m | €1.3m | €1.0m | ▼ 16.8% |
| Equity10/15 | €84,654 | €91,659 | €103,171 | €120,176 | €121,720 | ▲ 1.3% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €58,654 | €68,659 | €82,171 | €100,176 | €101,720 | ▲ 1.5% |
| Non-distributable reserves130/1 | €922 | €922 | €0 | - | €922 | - |
| Reserves not available under the articles1311 | €922 | €922 | €0 | - | €922 | - |
| Tax-exempt reserves132 | - | - | - | €13,327 | €13,327 | = |
| Distributable reserves133 | €57,731 | €67,737 | €82,171 | €86,849 | €87,471 | ▲ 0.7% |
| Investment grants15 | €6,000 | €3,000 | €1,000 | €0 | - | - |
| Amounts payable17/49 | €729,483 | €793,443 | €1.2m | €1.1m | €918,520 | ▼ 18.8% |
| Amounts payable after more than one year17 | €230,169 | €195,595 | €560,288 | €528,395 | €343,725 | ▼ 34.9% |
| Financial debts170/4 | €230,169 | €195,595 | €560,288 | €528,395 | €343,725 | ▼ 34.9% |
| Leasing and similar obligations172 | €194,027 | €101,396 | €442,053 | €244,832 | €162,412 | ▼ 33.7% |
| Credit institutions173 | €36,142 | €94,199 | €118,235 | €283,563 | €181,313 | ▼ 36.1% |
| Amounts payable within one year42/48 | €497,783 | €594,774 | €612,948 | €602,209 | €572,354 | ▼ 5.0% |
| Current portion of amounts payable after more than one year42 | €122,213 | €141,345 | €223,548 | €187,032 | €184,670 | ▼ 1.3% |
| Financial debts43 | €110,000 | €110,000 | €110,000 | €100,000 | €100,000 | = |
| Credit institutions430/8 | €110,000 | €110,000 | €110,000 | €100,000 | €100,000 | = |
| Trade debts44 | €156,967 | €202,291 | €162,951 | €97,136 | €123,251 | ▲ 26.9% |
| Suppliers440/4 | €156,967 | €202,291 | €162,951 | €97,136 | €123,251 | ▲ 26.9% |
| Taxes, remuneration and social security45 | €108,604 | €141,138 | €116,448 | €98,300 | €44,204 | ▼ 55.0% |
| Taxes450/3 | €49,213 | €84,988 | €63,679 | €43,046 | €12,983 | ▼ 69.8% |
| Remuneration and social security454/9 | €59,391 | €56,150 | €52,770 | €55,254 | €31,221 | ▼ 43.5% |
| Other amounts payable47/48 | - | - | - | €119,740 | €120,228 | ▲ 0.4% |
| Accrued charges and deferred income492/3 | €1,531 | €3,073 | €2,137 | €0 | €2,442 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,710 | €10,006 | €13,512 | €18,005 | €1,544 | ▼ 91.4% |
| + Depreciation and write-downs630 | €148,958 | €132,160 | €186,292 | €176,249 | €152,859 | ▼ 13.3% |
| Operating cash flow (approximation) | €166,668 | €142,166 | €199,804 | €194,254 | €154,403 | ▼ 20.5% |
| Investment in fixed assets (approximation) | - | -€184,749 | -€557,718 | -€4,856 | €88,248 | ▲ 1,917% |
| Change in cash | - | €17,614 | -€16,450 | -€7,322 | -€1,355 | ▲ 81.5% |
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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 27 days late
2025
31-12
Financial
Weakest financial yearnet €1,544 ▼91.4%
Net result drops to €1,544, the lowest in the series.
23-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Equity above €100,000Eq €103,171 ▲12.6%
6 profitable years in a row build equity to €103,171.
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
03-11
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 95 days late
2021
19-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 19 days late
2020
31-12
Financial
Highest result since 2018net €23,100 ▲52.7%
Net result €23,100, the highest in the series.
07-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 68 days late
2019
19-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 acts for this company are 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, Pittem · 1 establishment unit since 2001
Ground area
815 m²
Building footprint
175 m²
Volume, LiDAR
886 m³
Parcel 37011D1160/00C002, Flanders · tallest building 9.4 m, ±1 floor. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Kriekestraat 11, 8740 Pittem
since 20012.101.443.335
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37011D1160/00C002 | Flanders | 815 m² | 1 · 175 m² | 9.4 m · 1 fl. |
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.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 610 EUR awarded · 610 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 610 EUR | 610 EUR |
Recognitions · licences · registrations
Food safety, FASFC
1 sitePittem2.101.443.335
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Of 12,584 companies in sector 49410 we hold annual accounts for 8,199. 6,392 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
Founded09-11-2001
Fiscal year end31-12
Activities, NACEBEL 2025
49410Freight transport by road
46231Wholesale of live animals
E-invoicing
Reachable via Peppol
Peppol ID
0208:0476045811
Registered
09-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.