AVEZA
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 11-06-2026 PDF all 49 filings
Equity
€463,835▼ 4.9%
2024 · €487,784
Total assets
€469,571▼ 5.2%
2024 · €495,501
Net result
-€23,949
2024 · €10,883
Working capital
€220,424▼ 6.7%
2024 · €236,317
In the rankings
#3 oldest company in Anzegem, Wholesale and retail trade sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€23,903
2025
20182025
Net result
-€23,949
2025
lowest quarter of the sector
20182025
Equity
€463,835
▼ 4.9%
2025
highest quarter of the sector
20182025
Total assets
€469,571
▼ 5.2%
2025
highest quarter of the sector
20182025
Debt
€5,736
▼ 25.7%
2025
20182025
Working capital
€220,424
▼ 6.7%
2025
highest quarter of the sector
20182025
Solvency
98.8%
▲ 0.3pp
2025
highest quarter of the sector
20182025
Current ratio
39.43
▲ 7.80
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-5.1%
▼ 7.3pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€14,690--€23,215▼ 58.0%-€3,008▲ 87.0%€13,490€32,231▲ 139%€11,636▼ 63.9%€16,313▲ 40.2%-€23,903
Net result-€15,105--€24,366▼ 61.3%-€1,603within the sector's middle half▲ 93.4%€14,213within the sector's middle half€30,279above the sector's middle half▲ 113%€10,372within the sector's middle half▼ 65.7%€10,883within the sector's middle half▲ 4.9%-€23,949below the sector's middle half
Equity€254,781-€423,641▲ 66.3%€422,037above the sector's middle half▼ 0.4%€436,250above the sector's middle half▲ 3.4%€466,529above the sector's middle half▲ 6.9%€476,901above the sector's middle half▲ 2.2%€487,784above the sector's middle half▲ 2.3%€463,835above the sector's middle half▼ 4.9%
Total assets€329,561-€506,595▲ 53.7%€496,505above the sector's middle half▼ 2.0%€534,920above the sector's middle half▲ 7.7%€555,335above the sector's middle half▲ 3.8%€557,078above the sector's middle half▲ 0.3%€495,501above the sector's middle half▼ 11.1%€469,571above the sector's middle half▼ 5.2%
Debt€74,780-€82,954▲ 10.9%€74,468▼ 10.2%€98,670▲ 32.5%€88,806▼ 10.0%€80,177▼ 9.7%€7,716▼ 90.4%€5,736▼ 25.7%
Working capital€186,811-€166,835▼ 10.7%€170,660above the sector's middle half▲ 2.3%€189,788above the sector's middle half▲ 11.2%€190,812above the sector's middle half▲ 0.5%€220,212above the sector's middle half▲ 15.4%€236,317above the sector's middle half▲ 7.3%€220,424above the sector's middle half▼ 6.7%
Solvency77.3%-83.6%▲ 6.3pp85.0%above the sector's middle half▲ 1.4pp81.6%above the sector's middle half▼ 3.4pp84.0%above the sector's middle half▲ 2.5pp85.6%above the sector's middle half▲ 1.6pp98.4%above the sector's middle half▲ 12.8pp98.8%above the sector's middle half▲ 0.3pp
Current ratio3.60-3.06▼ 0.543.37above the sector's middle half▲ 0.302.97above the sector's middle half▼ 0.403.21above the sector's middle half▲ 0.243.85above the sector's middle half▲ 0.6431.63above the sector's middle half▲ 27.7839.43above the sector's middle half▲ 7.80
Return on assets (ROA)-4.6%--4.8%▼ 0.2pp-0.3%within the sector's middle half▲ 4.5pp2.7%within the sector's middle half▲ 3.0pp5.5%within the sector's middle half▲ 2.8pp1.9%within the sector's middle half▼ 3.6pp2.2%within the sector's middle half▲ 0.3pp-5.1%below the sector's middle half▼ 7.3pp
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €23,903, after a profit of €16,313 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €469,571
Fixed assets
€243,411 ▼ 3.2%
Current assets
€226,160 ▼ 7.3%
Equity and liabilities €469,571
Equity
€463,835 ▼ 4.9%
Debt
€5,736 ▼ 25.7%
Debt's share of the balance-sheet total falls from 1.6% to 1.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€15,847▼
2024 · €24,369
Cash flow
-€15,893▼
2024 · €18,940
Debt to equity
0.01▼
2024 · 0.02
ROE
-5.2%▼
2024 · 2.2%
Interest coverage
-325.26▼
2024 · 20.19
Debt ≤ 1 year
€5,736▼
2024 · €7,716
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €34,833 | €228 | - | - |
| Depreciation and write-downs of the year | €4,829 | €5,581 | €8,055 | €8,056 | €8,056 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €1,707 | €3,864 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,539 | €5,206 | €5,127 | €4,829 | €5,581 | €8,055 | €8,056 | €8,056 | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€29 | - | €32,004 | -€31,636 | -€1,407 | ▲ 95.6% |
| Other operating charges640/8 | - | - | - | €5,092 | €5,189 | €5,773 | €5,626 | €5,261 | ▼ 6.5% |
| Gross operating margin9900 | -€3,457 | -€13,173 | €6,999 | €23,383 | €43,002 | €57,467 | -€1,641 | -€11,992 | ▼ 631% |
| Operating profit (loss)9901 | -€14,690 | -€23,215 | -€3,008 | €13,490 | €32,231 | €11,636 | €16,313 | -€23,903 | - |
| Financial income75/76B | - | - | - | €5,104 | €4,129 | €3,371 | €1,228 | €2 | ▼ 99.8% |
| Recurring financial income75 | €3,770 | €1,761 | €4,358 | €5,104 | €4,129 | €3,371 | €1,228 | €2 | ▼ 99.8% |
| Financial charges65/66B | - | - | - | €2,631 | €2,616 | €2,597 | €1,207 | €49 | ▼ 96.0% |
| Recurring financial charges65 | €3,854 | €2,585 | €2,639 | €2,631 | €2,616 | €2,597 | €1,207 | €49 | ▼ 96.0% |
| Profit (loss) for the period before taxes9903 | -€14,774 | -€24,039 | -€1,289 | €15,963 | €33,744 | €12,410 | €16,334 | -€23,949 | - |
| Income taxes67/77 | €331 | €327 | €314 | €1,751 | €3,465 | €2,038 | €5,451 | - | - |
| Profit (loss) for the period9904 | -€15,105 | -€24,366 | -€1,603 | €14,213 | €30,279 | €10,372 | €10,883 | -€23,949 | - |
| Profit (loss) for the period to be appropriated9905 | -€15,105 | -€24,366 | -€1,603 | €14,213 | €30,279 | €10,372 | €10,883 | -€23,949 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €329,561 | €506,595 | €496,505 | €534,920 | €555,335 | €557,078 | €495,501 | €469,571 | ▼ 5.2% |
| Fixed assets21/28 | €70,928 | €258,947 | €253,819 | €248,990 | €278,242 | €259,523 | €251,467 | €243,411 | ▼ 3.2% |
| Tangible fixed assets22/27 | €70,928 | €258,947 | €253,819 | €248,990 | €278,242 | €259,523 | €251,467 | €243,411 | ▼ 3.2% |
| Land and buildings22 | - | - | - | €248,906 | €244,462 | €229,200 | €224,831 | €220,462 | ▼ 1.9% |
| Plant, machinery and equipment23 | - | - | - | - | €32,398 | €29,267 | €25,906 | €22,545 | ▼ 13.0% |
| Furniture and vehicles24 | - | - | - | €84 | €1,382 | €1,056 | €730 | €404 | ▼ 44.7% |
| Current assets29/58 | €258,634 | €247,648 | €242,686 | €285,930 | €277,093 | €297,554 | €244,034 | €226,160 | ▼ 7.3% |
| Stocks and contracts in progress3 | €202,539 | €197,084 | €194,187 | €186,317 | €183,053 | €64,380 | - | - | - |
| Stocks30/36 | - | - | - | €186,317 | €183,053 | €64,380 | - | - | - |
| Amounts receivable within one year40/41 | €15,107 | €4,351 | €2,665 | €50 | €20,585 | €1,112 | €1,137 | €204 | ▼ 82.1% |
| Trade receivables40 | - | - | - | €50 | €19,352 | €1,112 | €913 | - | - |
| Other amounts receivable41 | - | - | - | - | €1,232 | - | €224 | €204 | ▼ 8.8% |
| Cash at bank and in hand54/58 | €40,430 | €45,642 | €45,252 | €98,972 | €72,845 | €231,203 | €242,059 | €225,894 | ▼ 6.7% |
| Deferred charges and accrued income490/1 | - | - | - | €591 | €610 | €860 | €838 | €63 | ▼ 92.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €329,561 | €506,595 | €496,505 | €534,920 | €555,335 | €557,078 | €495,501 | €469,571 | ▼ 5.2% |
| Equity10/15 | €254,781 | €423,641 | €422,037 | €436,250 | €466,529 | €476,901 | €487,784 | €463,835 | ▼ 4.9% |
| Contributions10/11 | €62,000 | €255,225 | €255,225 | €255,225 | €255,225 | €255,225 | €255,225 | €255,225 | = |
| Capital10 | - | - | - | €255,225 | €255,225 | €255,225 | €255,225 | €255,225 | = |
| Issued capital100 | - | - | - | €255,225 | €255,225 | €255,225 | €255,225 | €255,225 | = |
| Reserves13 | €192,781 | €168,416 | €166,812 | €181,025 | €211,304 | €221,676 | €232,559 | €208,610 | ▼ 10.3% |
| Non-distributable reserves130/1 | - | - | - | €7,015 | €8,529 | €9,048 | €9,592 | €9,592 | = |
| Legal reserve130 | - | - | - | €6,911 | €8,425 | €8,943 | €9,487 | €9,487 | = |
| Reserves not available under the articles1311 | - | - | - | €104 | €104 | €104 | €104 | €104 | = |
| Tax-exempt reserves132 | - | - | - | €23,562 | €23,562 | €23,562 | €23,562 | €23,562 | = |
| Distributable reserves133 | - | - | - | €150,448 | €179,213 | €189,066 | €199,406 | €175,456 | ▼ 12.0% |
| Amounts payable17/49 | €74,780 | €82,954 | €74,468 | €98,670 | €88,806 | €80,177 | €7,716 | €5,736 | ▼ 25.7% |
| Amounts payable within one year42/48 | €71,822 | €80,812 | €72,026 | €96,142 | €86,281 | €77,342 | €7,716 | €5,736 | ▼ 25.7% |
| Trade debts44 | €13,975 | €17,154 | €4,623 | €29,285 | €20,250 | €34,633 | €332 | €210 | ▼ 36.9% |
| Suppliers440/4 | - | - | - | €29,285 | €20,250 | €34,633 | €332 | €210 | ▼ 36.9% |
| Advances received on contracts in progress46 | - | - | - | €1,372 | €860 | €2,960 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €2,116 | €4,464 | €11,692 | €6,826 | €4,968 | ▼ 27.2% |
| Taxes450/3 | - | - | - | €2,116 | €4,464 | €11,692 | €6,826 | €4,968 | ▼ 27.2% |
| Other amounts payable47/48 | - | - | - | €63,369 | €60,707 | €28,058 | €558 | €558 | = |
| Accrued charges and deferred income492/3 | - | - | - | €2,528 | €2,525 | €2,834 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€15,105 | -€24,366 | -€1,603 | €14,213 | €30,279 | €10,372 | €10,883 | -€23,949 | - |
| + Depreciation and write-downs630 | €6,539 | €5,206 | €5,127 | €4,829 | €5,581 | €8,055 | €8,056 | €8,056 | = |
| Operating cash flow (approximation) | -€8,567 | -€19,160 | €3,524 | €19,042 | €35,861 | €18,427 | €18,940 | -€15,893 | - |
| Investment in fixed assets (approximation) | - | -€193,225 | €0 | €0 | -€34,833 | €10,664 | €0 | €0 | - |
| Change in cash | - | €5,212 | -€390 | €53,720 | -€26,127 | €158,358 | €10,856 | -€16,165 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 8,617 companies had the same profile as AVEZA has now. Two years later, 94.1% were still going and 0.4% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
94.1%
was still going
5.2%
stopped otherwise
0.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of AVEZA itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 8,617 companies, not a prediction for AVEZA. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 49 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 11-06-2026 | 2026-00151847 | |
| 31-12-2024 | micro format | 10-06-2025 | 2025-00127874 | |
| 31-12-2023 | micro format | 03-06-2024 | 2024-00104881 | |
| 31-12-2022 | micro format | 06-07-2023 | 2023-00207809 | |
| 31-12-2021 | micro format | 22-08-2022 | 2022-20301532 | |
| 31-12-2020 | micro format | 07-06-2021 | 2021-17900595 | |
| 31-12-2019 | micro format | 12-06-2020 | 2020-16700497 | |
| 31-12-2018 | micro format | 11-06-2019 | 2019-17100276 | |
| 31-12-2017 | micro format | 21-06-2018 | 2018-20800496 | |
| 31-12-2016 | micro format | 08-06-2017 | 2017-15900503 |