Losses
-€40,492 in three years
Every financial year from 2023 to 2025 closed with a loss. 2025 was the heaviest.
BORVAN
Lifetime
20 annual accounts with figures on one time axis, 38 filings since 1988peak €315,993 (2009)
€17,839▼ 26.1%
lowest -€157,732 (2008)
-€18,403▼ €7,994
peak €400,740 (2011)
€287,429▼ 6.0%
€1.2m▲ 1.2%
peak 1.2 FTE (2006)
-not published
Board1 name since 1995
-
Documentsfilings and deeds
15-07-202616 days before the deadline
2025abbreviated format
Gross margin from €24,146 to €17,839Loss of €18,403
Key points
from the 2025 annual accountsDebts
€1.2m 81% of the balance sheet
Suppliers 1%Taxes and wages 0%Other 99%
€33,333 of the debts are secured on the company's own assets. In 2021 that was €407,223.
Securities
€520,000
Pledge on other assets, new in 2025. 1.8 times equity · not in the 2024 accounts.
Liquidity
3.83 was 1.95 in 2024
Short-term debts fell from €81,448 to €44,227.
Filings
38 annual accounts since 1988
Eight of the last ten came late. The 2023 accounts came latest: 61 days after the end of the period.
Position in the sector
-€18,403
Lower net result than 87% of companies in financial services. Sector median €51,427 · 6,707 companies.
Financial institution: outside the model
Bankruptcy probability
Outside the general model
Model not applicable to financial institutions
The Checked score measures liquidity, leverage and margins against the norms for trading and manufacturing companies. A bank, insurer or financial holding has a very different balance sheet. Those ratios and the score mean nothing here. So there is no financial strength either.
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 5,696 companies (NACE 01, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%
01-2025: 0.3%● unchanged vs 12-2024
02-2025: 0.3%● unchanged vs 01-2025
03-2025: 0.3%● unchanged vs 02-2025
04-2025: 0.3%● unchanged vs 03-2025
05-2025: 0.3%● unchanged vs 04-2025
06-2025: 0.4%▲ +0.1 percentage points vs 05-2025
07-2025: 0.5%▲ +0.1 percentage points vs 06-2025
08-2025: 0.7%▲ +0.2 percentage points vs 07-2025
09-2025: 0.9%▲ +0.2 percentage points vs 08-2025highest value
10-2025: 0.2%▼ -0.7 percentage points vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.3%▲ +0.1 percentage points vs 04-2026
06-2026: 0.3%● unchanged vs 05-2026
07-2026: 0.3%● unchanged vs 06-2026
08-2026: 0.2%▼ -0.1 percentage points vs 07-2026lowest value
09-2026: 0.2%● unchanged vs 08-2026lowest value
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Comparable companies, two years later
In July 2024, 2,507 companies had the same profile as BORVAN has now. Each dot stands for 7 companies, two years later.
96.4%
were still trading
1.8%
stopped another way
1.6%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of BORVAN itself is lower: 0.2% within 12 months. It rests on far more data about BORVAN than the profile alone.
Test of the method
The method was tested on the 497,447 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 2,507 companies, not a prediction for BORVAN. 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.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 6708 sector peers (2025).
NBB · sector comparisonPosition among 6708 sector peers
Solvency
better than 21%
← weakest
strongest →
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 15-07-2026, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
16 days early
2024
28 days late
2023
61 days late
2022
31 days late
2021
30 days late
2020
27 days late
2019
56 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 31 days after the deadline. In the sector (NACE 64), the median for financial year 2024 was 14 days before the deadline, and 28% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 30 August (4 of the last 5 accounts filed within 32 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0431426997
Change of role: Rik Vandecasteele, from manager to director
General meeting of 22-01-2024 · Gazette deed
First establishment
Ingelmunstersteenweg 167, Oostrozebeke
Incorporation
published on 11-07-1987 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| BORVAN Dentergem | €1.5m | €17,839 | 18.8% | - |
| VECATEX Waregem | €1.1m | €20,464 | 61.5% | 0 |
| Kantoor Saelen Izegem | €2.3m | €18,621 | 97.6% | - |
| KLAVER VIEREN Ostend | €2.0m | €22,937 | 77.3% | - |
| CEDAX Zedelgem | €1.0m | €20,397 | 96.6% | 0 |
| COENEGRACHT Knokke-Heist | €2.3m | €14,327 | 42.8% | - |
| LOMAS Koksijde | €1.6m | €14,124 | 12.2% | - |
These companies have the same main activity as BORVAN: activities of holding companies (NACE 64210). They are comparable in size and age: total assets between €985,000 and €2.3m, founded between 1980 and 1996.
Official details
Source: KBO- Status
- Active since 17-06-1987Normal situation
- Activity
- Activities of holding companiesNACE 64210and 3 others
- Establishment unit
- 2.029.608.1058780 Oostrozebeke, since 23-07-1987
- Financial year end
- 31 December
- Peppol
- Reachable since 30-10-2025
Annual accounts 2025
- €1.5m▼ 0.2%
- Filing
- Filed on 15-07-2026, 16 days before the end of the filing period
Insights on BORVAN
BORVAN files the abbreviated format. That format states no turnover. The gross margin fell from €38,869 in 2006 to €17,839 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about BORVAN
- What is the company number of BORVAN?
- The company number of BORVAN is 0431.426.997. The VAT number is the same number with BE in front: BE 0431.426.997.
- Where is BORVAN based?
- The registered office is at Meulebekestraat 4A, 8720 Dentergem.Company details
- What does BORVAN do?
- According to the KBO register, the main activity is activities of holding companies (NACE 64210).
- What is the legal form of BORVAN?
- BORVAN is a private limited company (BV).
- When was BORVAN founded?
- BORVAN was founded on 17-06-1987.
- Is BORVAN still active?
- Yes, BORVAN is an active enterprise in the KBO register.
- What is the turnover of BORVAN?
- The turnover in financial year 2025 is ≈ €87,000. This figure is estimated from the gross margin of €17,839 and 54 comparable companies (NACE 64210). It probably lies between €44,000 and €150,000. It is a rough estimate.Financials
- Is BORVAN profitable?
- In financial year 2025, BORVAN made a loss of €18,403.
- Where can I find the annual accounts of BORVAN?
- BORVAN filed 38 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of BORVAN due?
- BORVAN must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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