Summary
B-VAN 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 €180,365 and a net result of €17,741. Equity is growing by about 10% per year across the filed financial years. Its solvency ranks better than 75% of 6,676 sector peers (NACE 64, financial year 2025). The company has been active since 2013 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, abbreviated format
Equity
€180,365▲ 2.4%
2024 · €176,124
Net result
€17,741▼ 56.4%
2024 · €40,712
Total assets
€227,990▲ 10.7%
2024 · €205,948
Solvency
79.1%▼ 6.4pp
2024 · 85.5%
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result falls in 2025; 2025 is 57% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€20,249
2025
Net result€17,741
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€227,990
2025
Equity€180,365
2025
Debt€44,879
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€25,258
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)7.8%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency79.1%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.98
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€18,602-€22,371▲ 20.3%€20,425▼ 8.7%€12,661▼ 38.0%€19,845▲ 56.7%€46,612▲ 135%€20,249▼ 56.6%
Net result€10,101-€24,004within the sector's middle half▲ 138%€17,469within the sector's middle half▼ 27.2%€6,242within the sector's middle half▼ 64.3%€11,696within the sector's middle half▲ 87.4%€40,712within the sector's middle half▲ 248%€17,741within the sector's middle half▼ 56.4%
Equity€86,601-€116,805below the sector's middle half▲ 34.9%€134,274below the sector's middle half▲ 15.0%€138,866below the sector's middle half▲ 3.4%€148,911below the sector's middle half▲ 7.2%€176,124below the sector's middle half▲ 18.3%€180,365within the sector's middle half▲ 2.4%
Total assets€166,178-€196,576below the sector's middle half▲ 18.3%€187,660below the sector's middle half▼ 4.5%€173,886below the sector's middle half▼ 7.3%€176,958below the sector's middle half▲ 1.8%€205,948below the sector's middle half▲ 16.4%€227,990below the sector's middle half▲ 10.7%
Debt€79,577-€79,771▲ 0.2%€53,386▼ 33.1%€35,020▼ 34.4%€28,047▼ 19.9%€27,078▼ 3.5%€44,879▲ 65.7%
Working capital-€19,702-€4,538within the sector's middle half-€4,108within the sector's middle half-€7,055within the sector's middle half▼ 71.7%-€3,639within the sector's middle half▲ 48.4%€24,052within the sector's middle half€25,258within the sector's middle half▲ 5.0%
Solvency52.1%-59.4%within the sector's middle half▲ 7.3pp71.6%within the sector's middle half▲ 12.1pp79.9%above the sector's middle half▲ 8.3pp84.2%above the sector's middle half▲ 4.3pp85.5%above the sector's middle half▲ 1.4pp79.1%above the sector's middle half▼ 6.4pp
Current ratio0.46-1.12within the sector's middle half▲ 0.660.84within the sector's middle half▼ 0.280.69within the sector's middle half▼ 0.150.85within the sector's middle half▲ 0.161.89within the sector's middle half▲ 1.041.98within the sector's middle half▲ 0.09
Return on assets (ROA)6.1%-12.2%above the sector's middle half▲ 6.1pp9.3%within the sector's middle half▼ 2.9pp3.6%within the sector's middle half▼ 5.7pp6.6%within the sector's middle half▲ 3.0pp19.8%above the sector's middle half▲ 13.2pp7.8%within the sector's middle half▼ 12.0pp
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €227,990
Fixed assets
€176,983 ▲ 14.3%
Current assets
€51,007 ▼ 0.2%
Equity and liabilities €227,990
Equity
€180,365 ▲ 2.4%
Provisions
€2,746 =
Debt
€44,879 ▲ 65.7%
Debt's share of the balance-sheet total rises from 13.1% to 19.7%. Equity and debt are higher.
Key figures and ratios
ROE
9.8%▼
2024 · 23.1%
Debt ≤ 1 year
€25,749▼
2024 · €27,078
Debt > 1 year
€19,130
Income taxes
€7,545▼
2024 · €8,689
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,263 | €9,844 | €9,502 | €9,855 | €1,585 | €1,585 | €1,585 | = |
| Other operating charges640/8 | - | - | - | €809 | €1,306 | €783 | €1,033 | ▲ 31.9% |
| Gross operating margin9900 | €31,088 | €34,037 | €30,847 | €23,325 | €22,736 | €48,980 | €22,867 | ▼ 53.3% |
| Operating profit (loss)9901 | €18,602 | €22,371 | €20,425 | €12,661 | €19,845 | €46,612 | €20,249 | ▼ 56.6% |
| Financial income75/76B | - | - | - | €44 | €243 | €6,886 | €6,383 | ▼ 7.3% |
| Recurring financial income75 | - | €13,026 | €6,513 | €44 | €243 | €6,886 | €6,383 | ▼ 7.3% |
| Financial charges65/66B | - | - | - | €765 | €942 | €1,351 | €1,346 | ▼ 0.4% |
| Recurring financial charges65 | €1,214 | €1,294 | €1,033 | €765 | €942 | €1,351 | €1,346 | ▼ 0.4% |
| Profit (loss) for the period before taxes9903 | €17,388 | €34,103 | €25,905 | €11,940 | €19,146 | €52,147 | €25,286 | ▼ 51.5% |
| Transfer to deferred taxes680 | - | - | - | - | - | €2,746 | - | - |
| Income taxes67/77 | €7,287 | €10,099 | €8,436 | €5,698 | €7,450 | €8,689 | €7,545 | ▼ 13.2% |
| Profit (loss) for the period9904 | €10,101 | €24,004 | €17,469 | €6,242 | €11,696 | €40,712 | €17,741 | ▼ 56.4% |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | €8,239 | - | - |
| Profit (loss) for the period to be appropriated9905 | €10,101 | €24,004 | €17,469 | €6,242 | €11,696 | €32,473 | €17,741 | ▼ 45.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €166,178 | €196,576 | €187,660 | €173,886 | €176,958 | €205,948 | €227,990 | ▲ 10.7% |
| Fixed assets21/28 | €149,103 | €154,843 | €165,773 | €157,988 | €156,403 | €154,818 | €176,983 | ▲ 14.3% |
| Tangible fixed assets22/27 | €27,113 | €17,269 | €28,199 | €20,414 | €18,829 | €17,244 | €15,659 | ▼ 9.2% |
| Other tangible fixed assets26 | - | - | - | €20,414 | €18,829 | €17,244 | €15,659 | ▼ 9.2% |
| Financial fixed assets28 | €121,990 | €137,574 | €137,574 | €137,574 | €137,574 | €137,574 | €161,324 | ▲ 17.3% |
| Current assets29/58 | €17,075 | €41,733 | €21,887 | €15,898 | €20,555 | €51,130 | €51,007 | ▼ 0.2% |
| Amounts receivable within one year40/41 | €6,707 | €6,707 | €7,010 | €5,631 | €10,165 | €18,781 | €28,103 | ▲ 49.6% |
| Trade receivables40 | - | - | - | €4,235 | €4,537 | - | €8,476 | - |
| Other amounts receivable41 | - | - | - | €1,396 | €5,628 | €18,781 | €19,627 | ▲ 4.5% |
| Cash at bank and in hand54/58 | €10,368 | €35,026 | €14,877 | €10,017 | €10,390 | €12,309 | €7,082 | ▼ 42.5% |
| Deferred charges and accrued income490/1 | - | - | - | €250 | - | €20,040 | €15,822 | ▼ 21.0% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €166,178 | €196,576 | €187,660 | €173,886 | €176,958 | €205,948 | €227,990 | ▲ 10.7% |
| Equity10/15 | €86,601 | €116,805 | €134,274 | €138,866 | €148,911 | €176,124 | €180,365 | ▲ 2.4% |
| Contributions10/11 | €12,400 | - | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €74,201 | €98,205 | €115,674 | €120,266 | €130,311 | €157,524 | €161,765 | ▲ 2.7% |
| Non-distributable reserves130/1 | - | - | - | €2,300 | €2,300 | €2,300 | €2,300 | = |
| Reserves not available under the articles1311 | - | - | - | €2,300 | €2,300 | €2,300 | €2,300 | = |
| Tax-exempt reserves132 | - | - | - | €9,900 | €9,900 | €18,139 | €18,139 | = |
| Distributable reserves133 | - | - | - | €108,066 | €118,111 | €137,085 | €141,326 | ▲ 3.1% |
| Provisions and deferred taxes16 | - | - | - | - | - | €2,746 | €2,746 | = |
| Deferred taxes168 | - | - | - | - | - | €2,746 | €2,746 | = |
| Amounts payable17/49 | €79,577 | €79,771 | €53,386 | €35,020 | €28,047 | €27,078 | €44,879 | ▲ 65.7% |
| Amounts payable after more than one year17 | €42,274 | €42,004 | €27,099 | €12,067 | €3,853 | - | €19,130 | - |
| Financial debts170/4 | - | - | - | €12,067 | €3,853 | - | €19,130 | - |
| Amounts payable within one year42/48 | €36,777 | €37,195 | €25,995 | €22,953 | €24,194 | €27,078 | €25,749 | ▼ 4.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €15,031 | €8,214 | €3,854 | €3,106 | ▼ 19.4% |
| Financial debts43 | - | - | - | €1,750 | €1,750 | €1,795 | €1,791 | ▼ 0.2% |
| Credit institutions430/8 | - | - | - | - | €1,750 | €1,795 | €1,791 | ▼ 0.2% |
| Other loans439 | - | - | - | €1,750 | - | - | - | - |
| Trade debts44 | €520 | - | €923 | €669 | €3,557 | €2,270 | €2,454 | ▲ 8.1% |
| Suppliers440/4 | - | - | - | €669 | €3,557 | €2,270 | €2,454 | ▲ 8.1% |
| Taxes, remuneration and social security45 | - | - | - | €3,853 | €9,023 | €5,659 | €4,898 | ▼ 13.4% |
| Taxes450/3 | - | - | - | €3,853 | €9,023 | €5,659 | €4,898 | ▼ 13.4% |
| Other amounts payable47/48 | - | - | - | €1,650 | €1,650 | €13,500 | €13,500 | = |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,101 | €24,004 | €17,469 | €6,242 | €11,696 | €40,712 | €17,741 | ▼ 56.4% |
| + Depreciation and write-downs630 | €11,263 | €9,844 | €9,502 | €9,855 | €1,585 | €1,585 | €1,585 | = |
| Operating cash flow (approximation) | €21,364 | €33,848 | €26,971 | €16,097 | €13,281 | €42,297 | €19,326 | ▼ 54.3% |
| Investment in fixed assets (approximation) | - | -€15,584 | -€20,432 | -€2,070 | €0 | €0 | -€23,750 | - |
| Change in cash | - | €24,658 | -€20,149 | -€4,860 | €373 | €1,919 | -€5,227 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 12 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | abbreviated format | 30-01-2026 | 2026-00021450 |
| 30-06-2024 | abbreviated format | 09-01-2025 | 2025-00002133 |
| 30-06-2023 | abbreviated format | 05-12-2023 | 2023-00522119 |
| 30-06-2022 | abbreviated format | 08-12-2022 | 2022-20533988 |
| 30-06-2021 | abbreviated format | 23-11-2021 | 2021-78200325 |
| 30-06-2020 | abbreviated format | 24-12-2020 | 2020-77000303 |
| 30-06-2019 | abbreviated format | 11-12-2019 | 2019-75800581 |
| 30-06-2018 | abbreviated format | 02-10-2018 | 2018-68300598 |
| 30-06-2017 | abbreviated format | 09-12-2017 | 2017-72000178 |
| 30-06-2016 | abbreviated format | 17-12-2016 | 2016-71400142 |
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Of the 24,455 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 20,124. 13,745 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.