C.V.A.
ActiveSummary
C.V.A. has been active since 1973 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €825k and a net result of €-129k. Equity remains stable across the filed fiscal years (±2.3% per year). Its solvency ranks better than 53% of 378 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability61▼-9
Solvency64▼-1
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity ample (current ratio 1.59 against 1.98 in 2024; short-term debt: 20.1% and cash: 9.3% of total assets), but 61% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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
Accommodation (NACE 55)
about 6% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
55 d late
2023
69 d late
2022
70 d late
2021
91 d late
2020
121 d late
2019
89 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-129k
2024 · €31k
2018: €10k
2019: €87k▲ +793% vs 2018
2020: €11k▼ -87.0% vs 2019
2021: €269k▲ +2286% vs 2020highest in 8 years
2022: €10k▼ -96.1% vs 2021
2023: €20k▲ +93.7% vs 2022
2024: €31k▲ +51.8% vs 2023
2025: €-129k▼ -519% vs 2024lowest in 8 years
2018 → 2025
Working capital
€253k▼ 31.8%
2024 · €372k
2018: €325k
2019: €649k▲ +99.4% vs 2018
2020: €751k▲ +15.8% vs 2019
2021: €878k▲ +16.9% vs 2020highest in 8 years
2022: €686k▼ -21.9% vs 2021
2023: €395k▼ -42.4% vs 2022
2024: €372k▼ -6.1% vs 2023
2025: €253k▼ -31.8% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.00M-€921k▼ 8.1%€932k▲ 1.2%€954k▲ 2.3%€825k▼ 13.5%
2021: €1.00Mhighest in 5 years
2022: €921k▼ -8.1% vs 2021
2023: €932k▲ +1.2% vs 2022
2024: €954k▲ +2.3% vs 2023
2025: €825k▼ -13.5% vs 2024lowest in 5 years
Operating result€393k-€26k▼ 93.4%€25k▼ 1.8%€54k▲ 113%€-110k
2021: €393khighest in 5 years
2022: €26k▼ -93.4% vs 2021
2023: €25k▼ -1.8% vs 2022
2024: €54k▲ +113% vs 2023
2025: €-110k▼ -304% vs 2024lowest in 5 years
Net result€269k-€10k▼ 96.1%€20k▲ 93.7%€31k▲ 51.8%€-129k
2021: €269khighest in 5 years
2022: €10k▼ -96.1% vs 2021
2023: €20k▲ +93.7% vs 2022
2024: €31k▲ +51.8% vs 2023
2025: €-129k▼ -519% vs 2024lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €110k after €54k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.12M
Fixed assets
€1.44M ▼ 10.7%
Current assets
€679k ▼ 9.3%
Equity and liabilities €2.12M
Equity
€825k ▼ 13.5%
Provisions
€53k ▼ 7.8%
Debt
€1.24M ▼ 8.0%
Debt's share of the balance-sheet total rises from 57.1% to 58.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€134k▼
2024 · €294k
Cash flow
€116k▼
2024 · €271k
Current ratio
1.59▼
2024 · 1.98
Debt to equity
1.50▲
2024 · 1.41
ROE
-15.6%▼
2024 · 3.2%
ROA
-6.1%▼
2024 · 1.3%
Interest coverage
6.41▼
2024 · 11.92
Debt ≤ 1 year
€426k▲
2024 · €377k
Debt > 1 year
€812k▼
2024 · €968k
Income taxes
€2k▼
2024 · €12k
Staff costs
€117k▼
2024 · €142k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 64 lines
Balance sheet
Code20242025
Assets
Total assets20/58€2.36M€2.12M▼
Fixed assets21/28€1.61M€1.44M▼
Tangible fixed assets22/27€1.61M€1.44M▼
Land and buildings22€947k€905k▼
Plant, machinery and equipment23€553k€451k▼
Furniture and vehicles24€51k€32k▼
Leasing and similar rights25€57k€48k▼
Current assets29/58€749k€679k▼
Stocks and contracts in progress3€7k€0▼
Stocks30/36€7k€0▼
Amounts receivable within one year40/41€419k€441k▲
Trade receivables40€120k€52k▼
Other amounts receivable41€299k€389k▲
Cash at bank and in hand54/58€281k€196k▼
Deferred charges and accrued income490/1€42k€42k▲
Equity and liabilities
Total equity and liabilities10/49€2.36M€2.12M▼
Equity10/15€954k€825k▼
Contributions10/11€198k€198k=
Capital10€198k€198k=
Issued capital100€198k€198k=
Reserves13€248k€627k▲
Non-distributable reserves130/1€20k€20k=
Legal reserve130€20k€20k=
Tax-exempt reserves132€174k€161k▼
Distributable reserves133€54k€446k▲
Profit (loss) carried forward14€507k€0▼
Provisions and deferred taxes16€58k€53k▼
Deferred taxes168€58k€53k▼
Amounts payable17/49€1.35M€1.24M▼
Amounts payable after more than one year17€968k€812k▼
Financial debts170/4€618k€502k▼
Other amounts payable178/9€350k€310k▼
Amounts payable within one year42/48€377k€426k▲
Current portion of amounts payable after more than one year42€168k€116k▼
Financial debts43-€13k
Credit institutions430/8-€13k
Trade debts44€18k€66k▲
Suppliers440/4€18k€66k▲
Advances received on contracts in progress46€168k€196k▲
Taxes, remuneration and social security45€22k€29k▲
Taxes450/3€5k€13k▲
Remuneration and social security454/9€17k€16k▼
Other amounts payable47/48-€6k
Income statement
Code20242025
Remuneration, social security and pensions62€142k€117k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€240k€245k▲
Other operating charges640/8€13k€52k▲
Gross operating margin9900€449k€303k▼
Operating profit (loss)9901€54k€-110k▼
Financial income75/76B-€0
Recurring financial income75-€0
Financial charges65/66B€25k€21k▼
Recurring financial charges65€25k€21k▼
Profit (loss) for the period before taxes9903€29k€-131k▼
Transfer from deferred taxes780€13k€4k▼
Income taxes67/77€12k€2k▼
Profit (loss) for the period9904€31k€-129k▼
Transfer from tax-exempt reserves789€4k€13k▲
Profit (loss) for the period to be appropriated9905€35k€-116k▼
Appropriation of the result
Profit (loss) to be appropriated9906€507k€392k▼
Profit (loss) brought forward from the previous period14P€472k€507k▲
Transfer from equity791/2-€116k
Transfer to equity691/2-€507k
To other reserves6921-€507k
Social balance
Average headcount (FTE)9087-3.3
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €29k | - | - | - | - | - |
| Remuneration, social security and pensions62 | €66k | €72k | €136k | €142k | €117k | ▼ 17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €217k | €192k | €194k | €240k | €245k | ▲ 1.8% |
| Other operating charges640/8 | €27k | €39k | €39k | €13k | €52k | ▲ 310% |
| Non-recurring operating charges66A | €4k | €8k | €704 | - | - | - |
| Gross operating margin9900 | €707k | €337k | €394k | €449k | €303k | ▼ 32.4% |
| Operating profit (loss)9901 | €393k | €26k | €25k | €54k | €-110k | ▼ 304% |
| Financial income75/76B | - | €0 | €335 | - | €0 | - |
| Recurring financial income75 | - | €0 | €335 | - | €0 | - |
| Financial charges65/66B | €52k | €37k | €30k | €25k | €21k | ▼ 15.2% |
| Recurring financial charges65 | €52k | €37k | €30k | €25k | €21k | ▼ 15.2% |
| Profit (loss) for the period before taxes9903 | €341k | €-11k | €-4k | €29k | €-131k | ▼ 547% |
| Transfer from deferred taxes780 | €13k | €13k | €13k | €13k | €4k | ▼ 66.7% |
| Transfer to deferred taxes680 | €76k | - | - | - | - | - |
| Income taxes67/77 | €10k | €-8k | €-11k | €12k | €2k | ▼ 81.8% |
| Profit (loss) for the period9904 | €269k | €10k | €20k | €31k | €-129k | ▼ 519% |
| Transfer from tax-exempt reserves789 | €4k | €4k | €4k | €4k | €13k | ▲ 200% |
| Transfer to tax-exempt reserves689 | €226k | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €48k | €15k | €25k | €35k | €-116k | ▼ 428% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.80M | €2.48M | €2.48M | €2.36M | €2.12M | ▼ 10.2% |
| Fixed assets21/28 | €1.48M | €1.43M | €1.71M | €1.61M | €1.44M | ▼ 10.7% |
| Tangible fixed assets22/27 | €1.48M | €1.43M | €1.71M | €1.61M | €1.44M | ▼ 10.7% |
| Land and buildings22 | €814k | €748k | €965k | €947k | €905k | ▼ 4.3% |
| Plant, machinery and equipment23 | €574k | €592k | €611k | €553k | €451k | ▼ 18.4% |
| Furniture and vehicles24 | €93k | €86k | €71k | €51k | €32k | ▼ 37.6% |
| Leasing and similar rights25 | - | - | €67k | €57k | €48k | ▼ 16.7% |
| Current assets29/58 | €1.32M | €1.06M | €769k | €749k | €679k | ▼ 9.3% |
| Amounts receivable after more than one year29 | €250k | €250k | €250k | - | - | - |
| Trade receivables290 | €250k | €250k | €250k | - | - | - |
| Stocks and contracts in progress3 | - | €25k | €7k | €7k | €0 | ▼ 100% |
| Stocks30/36 | - | €25k | €7k | €7k | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €534k | €605k | €329k | €419k | €441k | ▲ 5.3% |
| Trade receivables40 | €357k | €183k | €6k | €120k | €52k | ▼ 56.7% |
| Other amounts receivable41 | €178k | €422k | €323k | €299k | €389k | ▲ 30.3% |
| Cash at bank and in hand54/58 | €517k | €131k | €139k | €281k | €196k | ▼ 30.1% |
| Deferred charges and accrued income490/1 | €19k | €44k | €44k | €42k | €42k | ▲ 0.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.80M | €2.48M | €2.48M | €2.36M | €2.12M | ▼ 10.2% |
| Equity10/15 | €1.00M | €921k | €932k | €954k | €825k | ▼ 13.5% |
| Contributions10/11 | €198k | €198k | €198k | €198k | €198k | = |
| Capital10 | €198k | €198k | €198k | €198k | €198k | = |
| Issued capital100 | €198k | €198k | €198k | €198k | €198k | = |
| Reserves13 | €301k | €275k | €262k | €248k | €627k | ▲ 152% |
| Non-distributable reserves130/1 | €20k | €20k | €20k | €20k | €20k | = |
| Legal reserve130 | €20k | €20k | €20k | €20k | €20k | = |
| Tax-exempt reserves132 | €215k | €201k | €188k | €174k | €161k | ▼ 7.7% |
| Distributable reserves133 | €67k | €54k | €54k | €54k | €446k | ▲ 725% |
| Profit (loss) carried forward14 | €447k | €447k | €472k | €507k | €0 | ▼ 100% |
| Investment grants15 | €55k | - | - | - | - | - |
| Provisions and deferred taxes16 | €71k | €67k | €62k | €58k | €53k | ▼ 7.8% |
| Deferred taxes168 | €71k | €67k | €62k | €58k | €53k | ▼ 7.8% |
| Amounts payable17/49 | €1.73M | €1.49M | €1.49M | €1.35M | €1.24M | ▼ 8.0% |
| Amounts payable after more than one year17 | €1.28M | €1.13M | €1.11M | €968k | €812k | ▼ 16.1% |
| Financial debts170/4 | €1.03M | €875k | €765k | €618k | €502k | ▼ 18.8% |
| Other amounts payable178/9 | €250k | €250k | €350k | €350k | €310k | ▼ 11.4% |
| Amounts payable within one year42/48 | €443k | €369k | €373k | €377k | €426k | ▲ 12.9% |
| Current portion of amounts payable after more than one year42 | €164k | €160k | €184k | €168k | €116k | ▼ 31.0% |
| Financial debts43 | €7k | - | - | - | €13k | - |
| Credit institutions430/8 | €7k | - | - | - | €13k | - |
| Trade debts44 | €66k | €4k | €19k | €18k | €66k | ▲ 263% |
| Suppliers440/4 | €66k | €4k | €19k | €18k | €66k | ▲ 263% |
| Advances received on contracts in progress46 | €97k | €108k | €161k | €168k | €196k | ▲ 16.5% |
| Taxes, remuneration and social security45 | €35k | €5k | €3k | €22k | €29k | ▲ 27.7% |
| Taxes450/3 | €28k | €3k | - | €5k | €13k | ▲ 154% |
| Remuneration and social security454/9 | €7k | €3k | €3k | €17k | €16k | ▼ 10.0% |
| Other amounts payable47/48 | €74k | €91k | €6k | - | €6k | - |
| Accrued charges and deferred income492/3 | €10k | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €269k | €10k | €20k | €31k | €-129k | ▼ 519% |
| + Depreciation and write-downs630 | €217k | €192k | €194k | €240k | €245k | ▲ 1.8% |
| Operating cash flow (approximation) | €487k | €203k | €214k | €271k | €116k | ▼ 57.4% |
| Investment in fixed assets (approximation) | - | €-137k | €-481k | €-135k | €-73k | ▲ 46.1% |
| Change in cash | - | €-386k | €8k | €142k | €-85k | ▼ 160% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €-129k
Net result drops to €-129k, the lowest in the series.
24-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 55 days late
2024
08-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 69 days late
2023
09-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 70 days late
2022
30-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 91 days late
2021
31-12
Financial
Highest result since 2018net €269k ▲2,286%
Operating result €393k, net result €269k, both a record.
31-12
Financial
Equity above €1MEq €1.00M ▲35.8%
4 profitable years in a row build equity to €1.00M.
29-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 121 days late
2020
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 89 days late
2019
09-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 70 days late
2018
27-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 58 days late
2017
27-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 58 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 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, Erezée · 1 establishment unit since 1973
Ground area
665 m²
Building footprint
93 m²
Parcel 83001A0330/00K000, Wallonia. Linked by address, not a title deed.
1 establishment unit
Rue du T.T.A., Blier 1, 6997 Erezée
since 19732.008.346.594
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 83001A0330/00K000 | Wallonia | 665 m² | 1 · 93 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 440 companies in sector 55300 we hold annual accounts for 292. 234 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded18-04-1973
Fiscal year end31-12
Activities, NACEBEL 2025
55300Accommodation
Scores and ratios are computed by Checked and are not a credit decision.