BOVAR
ActiveBOVAR has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €108k and a net result of €84k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 68% of 1300 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
74
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+23
Solvency67▲+35
Growth78=
Track record94
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days acceptable
Liquidity tight (current ratio 1.45 against 3.38 in 2024; short-term debt: 22% and cash: 16.7% of total assets), and 57.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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
42.4%
Return on assets
32.7%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 55
Relative position
BE, all sectors
reference
Sector 55
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
2122232425
2021 to 2025 · latest year €108k
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 27-07-2026, 4 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
4 d early
2024
45 d early
2023
120 d early
2022
5 d early
2021
31 d late
← before the deadline
after the deadline →
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
20-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€108k▲ 337%
2024 · €25k
2021: €-4k
2022: €-13k
2023: €3k
2024: €25k
2021 → 2025
Total assets
€256k▼ 24.8%
2024 · €340k
2021: €144k
2022: €137k
2023: €233k
2024: €340k
2021 → 2025
Net result
€84k▲ 286%
2024 · €22k
2021: €-8k
2022: €-9k
2023: €16k
2024: €22k
2021 → 2025
Working capital
€25k▼ 76.2%
2024 · €106k
2021: €-2k
2022: €-675
2023: €14k
2024: €106k
2021 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-4k-€-13k▼ 247%€3k€25k▲ 690%€108k▲ 337%
Operating result€-8k-€-8k▼ 9.3%€17k€32k▲ 81.6%€126k▲ 299%
Net result€-8k-€-9k▼ 17.6%€16k€22k▲ 37.5%€84k▲ 286%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 299% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €256k
Fixed assets
€175k▼ 8.2%
Current assets
€81k▼ 45.8%
Equity and liabilities €256k
Equity
€108k▲ 337%
Debt
€148k▼ 53.3%
The debt ratio falls from 92.7% to 57.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€141k▲
2024 · €47k
Cash flow
€99k▲
2024 · €37k
Solvency
42.4%▲
2024 · 7.3%
Current ratio
1.45▼
2024 · 3.38
Quick ratio
1.45▲
2024 · 0.83
Debt / equity
1.36▼
2024 · 12.71
ROE
77.1%▼
2024 · 87.3%
ROA
32.7%▲
2024 · 6.4%
Interest coverage
130.24▲
2024 · 28.93
Debt
€148k▼
2024 · €316k
Debt ≤ 1 year
€56k▲
2024 · €45k
Debt > 1 year
€91k▼
2024 · €271k
Income taxes
€41k▲
2024 · €8k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€340k€256k▼
Fixed assets21/28€190k€175k▼
Tangible fixed assets22/27€189k€174k▼
Land and buildings22€125k€121k▼
Furniture and vehicles24€28k€21k▼
Other tangible fixed assets26€36k€32k▼
Financial fixed assets28€690€690=
Current assets29/58€150k€81k▼
Stocks and contracts in progress3€113k-
Stocks30/36€113k-
Amounts receivable within one year40/41€28k€38k▲
Trade receivables40€27k€38k▲
Other amounts receivable41€1k-
Cash at bank and in hand54/58€8k€43k▲
Deferred charges and accrued income490/1€805€927▲
Equity and liabilities
Total equity and liabilities10/49€340k€256k▼
Equity10/15€25k€108k▲
Contributions10/11€4k€4k=
Reserves13€21k€104k▲
Distributable reserves133€21k€104k▲
Amounts payable17/49€316k€148k▼
Amounts payable after more than one year17€271k€91k▼
Financial debts170/4€10k-
Other amounts payable178/9€261k€91k▼
Amounts payable within one year42/48€45k€56k▲
Current portion of amounts payable after more than one year42€10k€10k▼
Trade debts44€5k€15k▲
Suppliers440/4€5k€15k▲
Advances received on contracts in progress46€4k€2k▼
Taxes, remuneration and social security45€4k€30k▲
Taxes450/3€4k€30k▲
Other amounts payable47/48€22k-
Accrued charges and deferred income492/3€27-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€16k▲
Other operating charges640/8€3k€3k▲
Gross operating margin9900€49k€145k▲
Operating profit (loss)9901€32k€126k▲
Financial income75/76B€83€12▼
Recurring financial income75€8€12▲
Non-recurring financial income76B€75-
Financial charges65/66B€2k€2k▼
Recurring financial charges65€2k€1k▼
Non-recurring financial charges66B€39€421▲
Profit (loss) for the period before taxes9903€30k€124k▲
Income taxes67/77€8k€41k▲
Profit (loss) for the period9904€22k€84k▲
Profit (loss) for the period to be appropriated9905€22k€84k▲
Appropriation of the result
Profit (loss) to be appropriated9906€21k€84k▲
Profit (loss) brought forward from the previous period14P€-857-
Transfer to equity691/2€21k€84k▲
To other reserves6921€21k€84k▲
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2021net €84k ▲286%
Operating result €126k, net result €84k, both a record.
31-12
Financial
Equity above €100kEq €108k ▲337%
3 profitable years in a row build equity to €108k.
16-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
02-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €16k
Net result €16k after 2 loss-making years.
31-12
Financial
Liquidity doublescurrent ratio 1.83
Current ratio from 0.84 to 1.83.
26-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-9k
Net result drops to €-9k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Waregem · 1 establishment unit since 2020
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Karekietstraat 158790 WaregemGround area
840 m²
Building footprint
188 m²
Volume, LiDAR
1,023 m³
Parcel 34452B0764/00C000, Flanders · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
BOVAR
since 20202.311.349.157
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34452B0764/00C000 | Flanders | 840 m² | 1 · 188 m² | 8.8 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
6488006RFE6HBCGXTH13
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Of 3,000 companies in sector 55203 we hold annual accounts for 690. 520 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded18-12-2020
Fiscal year end31-12
Activities, NACEBEL
55203Holiday cottages, homes and apartments
56210Event catering
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.