AVEVE
ActiveSummary
The computed 12-month bankruptcy probability of AVEVE is 2.8% (moderate). The annual accounts of AVEVE for fiscal year 2025 show a net loss of 78% of the equity at the start of that year. The 2025 annual accounts show equity of €43.0m and a net result of -€4.2m. Equity is shrinking by ~37% per year across the filed fiscal years. Its solvency ranks better than 27% of 4473 sector peers (fiscal year 2025). The company has been active since 1901 and the Belgian State Gazette contains no insolvency or warning signals.
Financials · fiscal year 2025, full schema, statutory accounts
In the rankings
#1 oldest company in Flemish Brabant, Wholesale and retail trade sector#2 employer in Leuven, Wholesale and retail trade sector#2 company by total assets in Leuven, Wholesale and retail trade sector
Turnover
€779.3m▲ 0.4%
2024 · €776.4m
EBIT margin
-0.2%▲ 0.9pp
2024 · -1.2%
Net result
-€4.2m▼ 215%
2024 · -€1.3m
Working capital
-€45.3m▼ 30.0%
2024 · -€34.8m
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 47, Retail trade, 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
Turnover€734.1m▲ 5.2%€863.7m▲ 17.7%€790.6m▼ 8.5%€776.4m▼ 1.8%€779.3m▲ 0.4%
Operating result€9.7m▲ 15.4%-€3.0m-€28.9m▼ 858%-€9.2m▲ 68.1%-€1.9m▲ 79.5%
Net result€44.5mabove the sector's middle half▲ 179%-€5.1mbelow the sector's middle half-€33.6mbelow the sector's middle half▼ 566%-€1.3mbelow the sector's middle half▲ 96.0%-€4.2mbelow the sector's middle half▼ 215%
EBIT margin1.3%▲ 0.1pp-0.3%▼ 1.7pp-3.6%▼ 3.3pp-1.2%▲ 2.5pp-0.2%▲ 0.9pp
Equity€280.3mabove the sector's middle half▲ 15.9%€40.3mabove the sector's middle half▼ 85.6%€6.7mabove the sector's middle half▼ 83.4%€5.4mabove the sector's middle half▼ 19.9%€43.0mabove the sector's middle half▲ 701%
Total assets€703.5mabove the sector's middle half▲ 16.1%€490.0mabove the sector's middle half▼ 30.4%€476.4mabove the sector's middle half▼ 2.8%€264.7mabove the sector's middle half▼ 44.4%€259.6mabove the sector's middle half▼ 1.9%
Debt€418.6m▲ 16.9%€445.6m▲ 6.4%€465.8m▲ 4.5%€255.7m▼ 45.1%€212.7m▼ 16.8%
Working capital€52.7mabove the sector's middle half€70.6mabove the sector's middle half▲ 34.0%€18.7mabove the sector's middle half▼ 73.4%-€34.8mbelow the sector's middle half-€45.3mbelow the sector's middle half▼ 30.0%
Solvency39.8%within the sector's middle half▼ 0.1pp8.2%below the sector's middle half▼ 31.6pp1.4%below the sector's middle half▼ 6.8pp2.0%below the sector's middle half▲ 0.6pp16.6%within the sector's middle half▲ 14.5pp
Current ratio1.22within the sector's middle half▲ 0.381.26within the sector's middle half▲ 0.041.06within the sector's middle half▼ 0.200.81below the sector's middle half▼ 0.250.76below the sector's middle half▼ 0.05
Return on assets (ROA)6.3%within the sector's middle half▲ 3.7pp-1.0%below the sector's middle half▼ 7.4pp-7.1%below the sector's middle half▼ 6.0pp-0.5%below the sector's middle half▲ 6.6pp-1.6%below the sector's middle half▼ 1.1pp
Staff (FTE)29.4above the sector's middle half474above the sector's middle half▲ 1,512%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2025 Net result -215%, Staff (FTE) +1,512% on 2024. Part of ARVESTA BELGIUM BV received in a demerger, effective 01-01-2025.
- 2025 Equity +701% on 2024. Part of ARVESTA BELGIUM BV received in a demerger, effective 01-01-2025. Capital increase of €40,000,000 (Official Gazette 02-12-2025).
- 2024 Net result +96% on 2023. Merger absorbing ET GROEP, effective 01-01-2024. Merger absorbing EUROTUIN MERELBEKE, effective 01-01-2024.
- 2023 Net result -566%, Equity -83% on 2022. Merger absorbing EUROTUIN DEINZE, effective 29-12-2023.
- 2022 Equity -86% on 2021. Demerger with ARVESTA, effective 01-01-2022.
- 2021 Net result +179% on 2020. Merger absorbing SCORIETHOM, effective 30-11-2021. Partial demerger to SANAC LOGISTICS, effective 30-07-2021.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1.9m in 2025 against €9.2m in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €259.6m
Fixed assets
€113.1m ▼ 2.1%
Current assets
€146.5m ▼ 1.7%
Equity and liabilities €259.6m
Equity
€43.0m ▲ 701%
Provisions
€3.9m ▲ 6.9%
Debt
€212.7m ▼ 16.8%
Debt's share of the balance-sheet total falls from 96.6% to 81.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€18.0m▲
2024 · €11.1m
Cash flow
€15.7m▼
2024 · €19.0m
Quick ratio
0.37▼
2024 · 0.42
Debt to equity
4.95▼
2024 · 47.62
ROE
-9.7%▲
2024 · -24.8%
Interest coverage
5.58▲
2024 · 1.21
Debt ≤ 1 year
€191.8m▲
2024 · €183.9m
Debt > 1 year
€20.0m▼
2024 · €70.7m
Income taxes
€15,244▲
2024 · €4,081
Staff costs
€29.5m▲
2024 · €1.3m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 137 companies that looked in July 2024 the way this one looks now, 2.2% went bankrupt within 24 months and 96% are still going.
- Large
- solvency 10 to 30%
- a small loss
- without age
2.2%
went bankrupt
2.2%
stopped otherwise
96%
still going
For this company itself Checked computes a higher bankruptcy probability: 2.8% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,366 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 137 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 | €768.7m | €878.8m | €801.9m | €785.9m | €793.1m | ▲ 0.9% |
| Turnover70 | €734.1m | €863.7m | €790.6m | €776.4m | €779.3m | ▲ 0.4% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | -€3.4m | -€3.9m | -€7.6m | -€7.1m | -€6.6m | ▲ 6.9% |
| Own construction capitalised72 | €0.2m | - | - | - | €0.1m | - |
| Other operating income74 | €23.6m | €15.2m | €15.4m | €15.7m | €17.3m | ▲ 10.1% |
| Non-recurring operating income76A | €14.2m | €3.8m | €3.5m | €0.9m | €3.0m | ▲ 224% |
| Operating charges60/66A | €759.0m | €881.8m | €830.7m | €795.1m | €795.0m | = |
| Goods for resale, raw materials and consumables60 | €593.7m | €721.6m | €644.7m | €624.6m | €627.0m | ▲ 0.4% |
| Purchases600/8 | €611.6m | €734.2m | €636.2m | €628.1m | €636.4m | ▲ 1.3% |
| Change in stocks: decrease (increase)609 | -€17.9m | -€12.6m | €8.5m | -€3.5m | -€9.4m | ▼ 168% |
| Services and other goods61 | €139.7m | €127.6m | €144.5m | €146.0m | €115.5m | ▼ 20.9% |
| Remuneration, social security and pensions62 | - | - | €0 | €1.3m | €29.5m | ▲ 2,226% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23.3m | €24.8m | €23.4m | €20.3m | €19.9m | ▼ 2.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | -€0.3m | €0.6m | €1.1m | -€1.7m | -€1.0m | ▲ 42.7% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | -€1.3m | -€0.3m | €0.04m | -€0.2m | €0.3m | ▲ 268% |
| Other operating charges640/8 | €2.4m | €2.6m | €2.5m | €3.0m | €3.1m | ▲ 3.8% |
| Non-recurring operating charges66A | €1.5m | €4.9m | €14.4m | €1.8m | €0.6m | ▼ 66.3% |
| Operating profit (loss)9901 | €9.7m | -€3.0m | -€28.9m | -€9.2m | -€1.9m | ▲ 79.5% |
| Financial income75/76B | €39.8m | €1.9m | €3.9m | €17.1m | €1.1m | ▼ 93.7% |
| Recurring financial income75 | €39.8m | €1.9m | €3.9m | €17.1m | €0.8m | ▼ 95.0% |
| Income from financial fixed assets750 | €38.8m | €0.1m | €0.2m | €0.2m | €0.03m | ▼ 81.5% |
| Income from current assets751 | €0.5m | €1.3m | €3.3m | €3.6m | €0.3m | ▼ 91.4% |
| Other financial income752/9 | €0.5m | €0.5m | €0.5m | €13.3m | €0.5m | ▼ 96.2% |
| Non-recurring financial income76B | €0.002m | - | - | - | €0.2m | - |
| Financial charges65/66B | €3.8m | €3.6m | €8.9m | €9.3m | €3.5m | ▼ 62.3% |
| Recurring financial charges65 | €2.7m | €3.6m | €8.9m | €9.3m | €3.5m | ▼ 62.4% |
| Debt charges650 | €2.6m | €3.3m | €8.7m | €9.2m | €3.2m | ▼ 65.0% |
| Other financial charges652/9 | €0.1m | €0.2m | €0.2m | €0.1m | €0.3m | ▲ 164% |
| Non-recurring financial charges66B | €1.1m | - | €0.03m | €0.01m | €0.01m | ▲ 19.4% |
| Profit (loss) for the period before taxes9903 | €45.7m | -€4.7m | -€33.8m | -€1.5m | -€4.3m | ▼ 192% |
| Transfer from deferred taxes780 | €0.2m | €0.3m | €0.2m | €0.2m | €0.1m | ▼ 6.4% |
| Income taxes67/77 | €1.5m | €0.6m | €0 | €0.004m | €0.02m | ▲ 274% |
| Taxes670/3 | €1.5m | €0.6m | €0 | €0.004m | €0.02m | ▲ 274% |
| Tax adjustments and reversals of tax provisions77 | - | €0.001m | - | - | - | - |
| Profit (loss) for the period9904 | €44.5m | -€5.1m | -€33.6m | -€1.3m | -€4.2m | ▼ 215% |
| Transfer from tax-exempt reserves789 | €0.5m | €0.04m | €0.04m | €0.03m | €0.02m | ▼ 6.0% |
| Profit (loss) for the period to be appropriated9905 | €45.0m | -€5.0m | -€33.6m | -€1.3m | -€4.2m | ▼ 220% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €703.5m | €490.0m | €476.4m | €264.7m | €259.6m | ▼ 1.9% |
| Formation expenses20 | €0.002m | €0.001m | €0.001m | €374 | €0 | ▼ 100% |
| Fixed assets21/28 | €406.4m | €148.1m | €135.9m | €115.6m | €113.1m | ▼ 2.1% |
| Intangible fixed assets21 | €68.7m | €50.2m | €27.6m | €22.6m | €19.8m | ▼ 12.4% |
| Tangible fixed assets22/27 | €93.6m | €90.8m | €92.5m | €92.6m | €90.9m | ▼ 1.9% |
| Land and buildings22 | €70.6m | €67.7m | €70.2m | €71.1m | €67.7m | ▼ 4.7% |
| Plant, machinery and equipment23 | €14.5m | €13.9m | €14.5m | €14.7m | €15.5m | ▲ 5.1% |
| Furniture and vehicles24 | €2.3m | €3.3m | €3.0m | €2.7m | €2.6m | ▼ 4.4% |
| Other tangible fixed assets26 | €4.1m | €2.7m | €2.0m | €1.8m | €1.4m | ▼ 23.4% |
| Assets under construction and advance payments27 | €2.1m | €3.1m | €2.7m | €2.3m | €3.7m | ▲ 61.9% |
| Financial fixed assets28 | €244.1m | €7.1m | €15.8m | €0.4m | €2.4m | ▲ 573% |
| Affiliated companies280/1 | €239.5m | €6.6m | €15.3m | - | €2.0m | - |
| Participating interests280 | €236.2m | - | €11.4m | - | €2.0m | - |
| Amounts receivable281 | €3.3m | €6.6m | €3.9m | - | - | - |
| Companies linked by participating interests282/3 | €4.1m | - | - | - | - | - |
| Participating interests282 | €4.1m | - | - | - | - | - |
| Other financial fixed assets284/8 | €0.5m | €0.5m | €0.5m | €0.4m | €0.4m | ▲ 14.4% |
| Shares284 | €0.4m | €0.4m | €0.4m | €0.2m | €0.2m | ▲ 11.0% |
| Amounts receivable and cash guarantees285/8 | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | ▲ 18.6% |
| Current assets29/58 | €297.1m | €341.9m | €340.5m | €149.1m | €146.5m | ▼ 1.7% |
| Amounts receivable after more than one year29 | €1.9m | €1.2m | €0.9m | €0.8m | €0.7m | ▼ 3.1% |
| Trade receivables290 | €0.007m | €0.007m | €0.007m | - | - | - |
| Other amounts receivable291 | €1.9m | €1.2m | €0.9m | €0.8m | €0.7m | ▼ 3.1% |
| Stocks and contracts in progress3 | €84.5m | €91.5m | €75.9m | €72.7m | €75.7m | ▲ 4.2% |
| Stocks30/36 | €84.5m | €91.5m | €75.9m | €72.7m | €75.7m | ▲ 4.2% |
| Raw materials and consumables30/31 | €24.6m | €25.7m | €21.1m | €21.3m | €19.8m | ▼ 6.8% |
| Work in progress32 | €1.9m | €1.6m | €2.0m | €1.8m | €1.3m | ▼ 27.9% |
| Finished goods33 | €5.9m | €6.8m | €5.0m | €3.6m | €2.9m | ▼ 18.9% |
| Goods purchased for resale34 | €52.1m | €57.4m | €47.8m | €46.1m | €51.7m | ▲ 12.3% |
| Amounts receivable within one year40/41 | €136.9m | €169.2m | €194.3m | €72.4m | €66.8m | ▼ 7.8% |
| Trade receivables40 | €86.3m | €85.4m | €63.3m | €65.6m | €61.1m | ▼ 6.8% |
| Other amounts receivable41 | €50.7m | €83.8m | €130.9m | €6.9m | €5.7m | ▼ 16.6% |
| Current investments50/53 | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Other investments51/53 | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Cash at bank and in hand54/58 | €73.3m | €79.0m | €68.6m | €2.0m | €1.9m | ▼ 3.3% |
| Deferred charges and accrued income490/1 | €0.5m | €1.0m | €0.9m | €1.2m | €1.3m | ▲ 6.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €703.5m | €490.0m | €476.4m | €264.7m | €259.6m | ▼ 1.9% |
| Equity10/15 | €280.3m | €40.3m | €6.7m | €5.4m | €43.0m | ▲ 701% |
| Contributions10/11 | €111.8m | €20.9m | €20.9m | €20.9m | €42.1m | ▲ 101% |
| Revaluation surpluses12 | €0.06m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Reserves13 | €168.4m | €19.4m | €0.8m | €0.8m | €0.9m | ▲ 9.4% |
| Non-distributable reserves130/1 | €0.3m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Other1319 | €0.3m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Tax-exempt reserves132 | €10.3m | €0.8m | €0.8m | €0.7m | €0.7m | ▼ 3.4% |
| Distributable reserves133 | €157.8m | €18.5m | €0 | - | €0.1m | - |
| Profit (loss) carried forward14 | - | - | -€15.1m | -€16.4m | €0 | ▲ 100% |
| Provisions and deferred taxes16 | €4.6m | €4.1m | €3.9m | €3.6m | €3.9m | ▲ 6.9% |
| Provisions for liabilities and charges160/5 | €3.3m | €3.0m | €3.0m | €2.9m | €3.3m | ▲ 13.6% |
| Major repairs and maintenance162 | €0.3m | €0.04m | €0 | - | - | - |
| Environmental obligations163 | - | - | - | €0.5m | €0.5m | ▲ 4.1% |
| Other liabilities and charges164/5 | €3.0m | €3.0m | €3.0m | €2.4m | €2.8m | ▲ 15.6% |
| Deferred taxes168 | €1.3m | €1.1m | €0.9m | €0.7m | €0.6m | ▼ 20.2% |
| Amounts payable17/49 | €418.6m | €445.6m | €465.8m | €255.7m | €212.7m | ▼ 16.8% |
| Amounts payable after more than one year17 | €173.3m | €172.4m | €141.5m | €70.7m | €20.0m | ▼ 71.7% |
| Financial debts170/4 | €173.3m | €172.4m | €141.5m | €70.7m | €20.0m | ▼ 71.7% |
| Credit institutions173 | €173.3m | €172.4m | €141.5m | €70.7m | €20.0m | ▼ 71.7% |
| Amounts payable within one year42/48 | €244.4m | €271.3m | €321.8m | €183.9m | €191.8m | ▲ 4.3% |
| Current portion of amounts payable after more than one year42 | €0.9m | €0.9m | €0.9m | €0.9m | €0.7m | ▼ 22.7% |
| Financial debts43 | €142.7m | €139.6m | €192.7m | €99.4m | €89.3m | ▼ 10.2% |
| Credit institutions430/8 | €2.0m | €2.0m | €0 | - | €0.09m | - |
| Other loans439 | €140.7m | €137.6m | €192.7m | €99.4m | €89.2m | ▼ 10.3% |
| Trade debts44 | €90.4m | €126.1m | €121.2m | €75.8m | €85.4m | ▲ 12.7% |
| Suppliers440/4 | €90.4m | €126.1m | €121.2m | €75.8m | €85.4m | ▲ 12.7% |
| Advances received on contracts in progress46 | €4.4m | €4.6m | €4.3m | €4.6m | €5.0m | ▲ 8.9% |
| Taxes, remuneration and social security45 | €0.06m | - | €2.6m | €2.9m | €11.1m | ▲ 276% |
| Taxes450/3 | €0.06m | - | €2.6m | €2.7m | €4.3m | ▲ 59.3% |
| Remuneration and social security454/9 | - | - | - | €0.2m | €6.8m | ▲ 2,834% |
| Other amounts payable47/48 | €6.1m | €0.09m | €0.08m | €0.2m | €0.2m | ▼ 4.7% |
| Accrued charges and deferred income492/3 | €0.9m | €1.8m | €2.5m | €1.1m | €1.0m | ▼ 11.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €44.5m | -€5.1m | -€33.6m | -€1.3m | -€4.2m | ▼ 215% |
| + Depreciation and write-downs630 | €23.3m | €24.8m | €23.4m | €20.3m | €19.9m | ▼ 2.2% |
| Operating cash flow (approximation) | €67.8m | €19.7m | -€10.2m | €19.0m | €15.7m | ▼ 17.5% |
| Investment in fixed assets (approximation) | - | €233.6m | -€11.2m | -€0.03m | -€17.4m | ▼ 62,197% |
| Change in cash | - | €5.7m | -€10.4m | -€66.6m | -€0.06m | ▲ 99.9% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
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Subsidies and aid
Flemish government
2024 · 1 entry · €320 awarded · €320 paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | €320 | €320 |
Schemes