CALVAN
ActiveSummary
CALVAN has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €27,392 and a net result of €673. Equity remains stable across the filed fiscal years (±2.1% per year). Its solvency ranks better than 77% of 127 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2026
Axes · tick = 2025
Profitability61▲+1
Solvency100=
Growth68=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity ample (current ratio 5.72 against 5.66 in 2025; short-term debt: 14.6% and cash: 76.4% of total assets), and 14.6% of the assets are financed with debt.
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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 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2026Solvency, return and age of the figures
Solvency
85.4%
Return on assets
2.1%
Age of the figures
7 mo
neutral · Latest accounts filed on time
The financial year that closed on 28-02-2026 was due by 30-09-2026 and was filed on 13-08-2026, 48 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
48 d early
2025
39 d early
2024
47 d early
2023
50 d early
2022
37 d early
2021
51 d early
2020
50 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 46 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 28-02-2027 and is due by 30-09-2027. Nothing is late today. Usually files around 14 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today28-02-2027 close30-09-2027 deadline
History
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Financials · fiscal year 2026, micro schema
Turnover
€121,298▲ 0.6%
2025 · €120,574
EBIT margin
1.2%▲ 1.0pp
2025 · 0.2%
Net result
€673▼ 17.6%
2025 · €818
Working capital
€22,059▲ 4.9%
2025 · €21,024
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20222023202420252026
Turnover€64,053▼ 47.8%€101,452▲ 58.4%€90,892▼ 10.4%€120,574▲ 32.7%€121,298▲ 0.6%
Operating result€1,058▼ 96.0%-€4,671-€8,440▼ 80.7%€221€1,457▲ 558%
Net result-€7,783below the sector's middle half-€2,911within the sector's middle half▲ 62.6%-€10,030below the sector's middle half▼ 245%€818within the sector's middle half€673▼ 17.6%
EBIT margin1.7%▼ 20.0pp-4.6%▼ 6.3pp-9.3%▼ 4.7pp0.2%▲ 9.5pp1.2%▲ 1.0pp
Equity€38,843within the sector's middle half▼ 16.7%€35,931within the sector's middle half▼ 7.5%€25,901within the sector's middle half▼ 27.9%€26,719within the sector's middle half▲ 3.2%€27,392▲ 2.5%
Total assets€61,212below the sector's middle half▲ 14.1%€50,769below the sector's middle half▼ 17.1%€40,895below the sector's middle half▼ 19.4%€32,758below the sector's middle half▼ 19.9%€32,061▼ 2.1%
Debt€22,369▲ 219%€14,837▼ 33.7%€14,994▲ 1.1%€6,040▼ 59.7%€4,669▼ 22.7%
Working capital€34,482within the sector's middle half▼ 23.4%€31,031within the sector's middle half▼ 10.0%€20,044within the sector's middle half▼ 35.4%€21,024within the sector's middle half▲ 4.9%€22,059▲ 4.9%
Solvency63.5%within the sector's middle half▼ 23.5pp70.8%above the sector's middle half▲ 7.3pp63.3%within the sector's middle half▼ 7.4pp81.6%above the sector's middle half▲ 18.2pp85.4%▲ 3.9pp
Current ratio5.50above the sector's middle half▼ 1.928.04above the sector's middle half▲ 2.543.24within the sector's middle half▼ 4.805.66above the sector's middle half▲ 2.425.72▲ 0.06
Return on assets (ROA)-12.7%below the sector's middle half▼ 54.7pp-5.7%below the sector's middle half▲ 7.0pp-24.5%below the sector's middle half▼ 18.8pp2.5%within the sector's middle half▲ 27.0pp2.1%▼ 0.4pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2024 the operating result has climbed two years in a row; 2026 is 558% above 2025 and is the highest result in the available series.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €32,061
Fixed assets
€5,333 ▼ 26.2%
Current assets
€26,728 ▲ 4.7%
Equity and liabilities €32,061
Equity
€27,392 ▲ 2.5%
Debt
€4,669 ▼ 22.7%
Debt's share of the balance-sheet total falls from 18.4% to 14.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€6,018▲
2025 · €4,892
Cash flow
€5,234▼
2025 · €5,488
Quick ratio
5.39▲
2025 · 5.35
Debt to equity
0.17▼
2025 · 0.23
ROE
2.5%▼
2025 · 3.1%
Interest coverage
21.19▲
2025 · 11.34
Debt ≤ 1 year
€4,669▲
2025 · €4,511
Income taxes
€500▲
2025 · -€1,000
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,027 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 17,027 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €64,053 | €101,452 | €90,892 | €120,574 | €121,298 | ▲ 0.6% |
| Non-recurring operating income76A | €2,535 | €84 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €62,317 | €101,624 | €94,390 | €115,489 | €114,705 | ▼ 0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,466 | €4,400 | €4,554 | €4,670 | €4,561 | ▼ 2.3% |
| Other operating charges640/8 | €73 | €184 | €389 | €194 | €575 | ▲ 197% |
| Non-recurring operating charges66A | €674 | - | - | - | - | - |
| Gross operating margin9900 | €4,271 | -€88 | -€3,498 | €5,085 | €6,593 | ▲ 29.6% |
| Operating profit (loss)9901 | €1,058 | -€4,671 | -€8,440 | €221 | €1,457 | ▲ 558% |
| Financial income75/76B | - | €15 | €4 | €28 | €0 | ▼ 99.9% |
| Recurring financial income75 | - | €15 | €4 | €28 | €0 | ▼ 99.9% |
| Financial charges65/66B | €475 | €596 | €595 | €431 | €284 | ▼ 34.2% |
| Recurring financial charges65 | €475 | €596 | €595 | €431 | €284 | ▼ 34.2% |
| Profit (loss) for the period before taxes9903 | €583 | -€5,253 | -€9,030 | -€182 | €1,173 | ▲ 744% |
| Income taxes67/77 | €8,366 | -€2,342 | €1,000 | -€1,000 | €500 | ▲ 150% |
| Profit (loss) for the period9904 | -€7,783 | -€2,911 | -€10,030 | €818 | €673 | ▼ 17.6% |
| Profit (loss) for the period to be appropriated9905 | -€7,783 | -€2,911 | -€10,030 | €818 | €673 | ▼ 17.6% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €61,212 | €50,769 | €40,895 | €32,758 | €32,061 | ▼ 2.1% |
| Fixed assets21/28 | €19,070 | €15,330 | €11,894 | €7,224 | €5,333 | ▼ 26.2% |
| Tangible fixed assets22/27 | €18,970 | €15,230 | €11,794 | €7,124 | €5,233 | ▼ 26.5% |
| Plant, machinery and equipment23 | €432 | €410 | €1,392 | €1,186 | €3,495 | ▲ 195% |
| Furniture and vehicles24 | €18,538 | €14,819 | €10,401 | €5,938 | €1,738 | ▼ 70.7% |
| Financial fixed assets28 | €100 | €100 | €100 | €100 | €100 | = |
| Current assets29/58 | €42,142 | €35,439 | €29,001 | €25,535 | €26,728 | ▲ 4.7% |
| Stocks and contracts in progress3 | €1,064 | €1,034 | €1,287 | €1,411 | €1,567 | ▲ 11.0% |
| Stocks30/36 | €1,064 | €1,034 | €1,287 | €1,411 | €1,567 | ▲ 11.0% |
| Amounts receivable within one year40/41 | €18,812 | €6,920 | €10,819 | €9,176 | €672 | ▼ 92.7% |
| Trade receivables40 | €17,025 | €3,034 | €9,948 | €7,104 | €366 | ▼ 94.9% |
| Other amounts receivable41 | €1,787 | €3,886 | €871 | €2,072 | €306 | ▼ 85.2% |
| Cash at bank and in hand54/58 | €22,267 | €27,486 | €16,895 | €14,947 | €24,489 | ▲ 63.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €61,212 | €50,769 | €40,895 | €32,758 | €32,061 | ▼ 2.1% |
| Equity10/15 | €38,843 | €35,931 | €25,901 | €26,719 | €27,392 | ▲ 2.5% |
| Contributions10/11 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Reserves13 | €40,428 | €40,428 | €40,428 | €40,428 | €41,246 | ▲ 2.0% |
| Non-distributable reserves130/1 | €1,859 | €1,859 | €1,859 | - | - | - |
| Reserves not available under the articles1311 | €1,859 | €1,859 | €1,859 | - | - | - |
| Distributable reserves133 | €38,569 | €38,569 | €38,569 | €40,428 | €41,246 | ▲ 2.0% |
| Profit (loss) carried forward14 | -€7,783 | -€10,694 | -€20,724 | -€19,906 | -€20,051 | ▼ 0.7% |
| Amounts payable17/49 | €22,369 | €14,837 | €14,994 | €6,040 | €4,669 | ▼ 22.7% |
| Amounts payable after more than one year17 | €14,709 | €10,430 | €6,037 | €1,529 | - | - |
| Financial debts170/4 | €14,709 | €10,430 | €6,037 | €1,529 | - | - |
| Amounts payable within one year42/48 | €7,660 | €4,408 | €8,957 | €4,511 | €4,669 | ▲ 3.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €4,508 | - | - |
| Financial debts43 | €4,169 | €4,279 | €4,753 | - | €1,909 | - |
| Credit institutions430/8 | €4,169 | €4,279 | €4,753 | - | €1,909 | - |
| Trade debts44 | €1,719 | - | €2,319 | - | €100 | - |
| Suppliers440/4 | €1,719 | - | €2,319 | - | €100 | - |
| Taxes, remuneration and social security45 | €1,772 | - | €1,847 | - | €2,629 | - |
| Taxes450/3 | €133 | - | €159 | - | €928 | - |
| Remuneration and social security454/9 | €1,638 | - | €1,688 | - | €1,701 | - |
| Other amounts payable47/48 | - | €129 | €38 | €2 | €32 | ▲ 1,220% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€7,783 | -€2,911 | -€10,030 | €818 | €673 | ▼ 17.6% |
| + Depreciation and write-downs630 | €2,466 | €4,400 | €4,554 | €4,670 | €4,561 | ▼ 2.3% |
| Operating cash flow (approximation) | -€5,316 | €1,489 | -€5,477 | €5,488 | €5,234 | ▼ 4.6% |
| Investment in fixed assets (approximation) | - | -€660 | -€1,118 | €0 | -€2,670 | - |
| Change in cash | - | €5,219 | -€10,590 | -€1,948 | €9,541 | ▲ 590% |
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 2027, expected by
2026
13-08
NBB filing
Annual accounts filed
fiscal year 2026 · micro schema
2025
22-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
28-02
Financial
Back to profitnet €818
Net result €818 after 3 loss-making years.
2024
14-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
29-02
Financial
Weakest financial yearnet -€10,030
Net result drops to -€10,030, the lowest in the series; recovery starts the following year.
2023
11-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
10-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
28-02
Financial
Highest result since 2019net €22,498 ▲131%
Operating result €26,571, net result €22,498, both a record.
2020
11-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
19-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
16-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
10-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Frasnes-lez-Anvaing · 1 establishment unit since 1991
Ground area
817 m²
Building footprint
137 m²
Volume, LiDAR
775 m³
Parcel 51022E0080/00D000, Wallonia · tallest building 7.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
CALVAN
since 19912.054.183.252
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 51022E0080/00D000 | Wallonia | 817 m² | 1 · 137 m² | 7.2 m · 2 fl. |
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 689 companies in sector 46216 we hold annual accounts for 476. 119 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded31-08-1991
Fiscal year end28-02
Activities, NACEBEL 2025
46216Wholesale of agricultural produce and animal feed, general range
43410Roofing work
43421Specialised construction activities
46180Agents specialised in the wholesale of other particular products
46190Agents in non-specialised wholesale trade
81300Landscape service activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0445032931
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.