CAV
Dissolution or liquidationFinancials · financial year 2026, micro format
Annual accounts 2026 filed on 23-07-2026 at the NBB all 30 filings
Equity
€3.6m=
2025 · €3.6m
Total assets
€3.6m=
2025 · €3.6m
Net result
-€1,214▲ 87.7%
2025 · -€9,880
Working capital
€2.0m▲ 0.5%
2025 · €2.0m
Multi-year overview
2018 to 2026, 9 financial yearsOperating result
-€13,836
▲ 61.9%
2026
20182026
Net result
-€1,214
▲ 87.7%
2026
20182026
Equity
€3.6m
=
2026
20182026
Total assets
€3.6m
=
2026
20182026
Debt
€3,673
▲ 126%
2026
20182026
Working capital
€2.0m
▲ 0.5%
2026
20182026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222023202420252026
Operating result-€0.03m-€0.03m€0.02m▼ 34.9%€0.04m▲ 110%€0.02m▼ 48.3%€2.7m▲ 124×-€0.05m-€0.04m▲ 23.2%-€0.01m▲ 61.9%
Net result-€0.07m--€0.02m▲ 73.1%-€0.02m▼ 27.6%€111-€0.02m€1.8m€0.2m▼ 89.9%-€0.01m-€0.001m▲ 87.7%
Equity€1.6m-€1.6m▼ 1.1%€1.6m▼ 1.5%€1.6m=€1.6m▼ 1.1%€3.4m▲ 116%€3.6m▲ 5.4%€3.6m▼ 0.3%€3.6m=
Total assets€2.8m-€2.7m▼ 3.0%€2.7m▼ 1.2%€2.6m▼ 3.5%€2.5m▼ 2.8%€4.1m▲ 61.0%€3.7m▼ 10.9%€3.6m▼ 1.2%€3.6m=
Debt€1.2m-€1.1m▼ 5.7%€1.1m▼ 0.7%€1.0m▼ 8.5%€1.0m▼ 5.5%€0.7m▼ 30.4%€0.04m▼ 94.7%€0.002m▼ 95.4%€0.004m▲ 126%
Working capital-€1.2m--€1.1m▲ 5.3%-€1.0m▲ 6.3%-€0.9m▲ 9.1%-€0.9m▲ 5.5%€1.7m€2.0m▲ 13.5%€2.0m▲ 1.7%€2.0m▲ 0.5%
The operating result for 2026 is a loss of €13,836, smaller than the loss of €36,277 in 2025.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €3.6m
Fixed assets
€1.6m ▼ 0.5%
Current assets
€2.0m ▲ 0.4%
Equity and liabilities €3.6m
Equity
€3.6m =
Debt
€3,673 ▲ 126%
Debt's share of the balance-sheet total rises from 0.0% to 0.1%. Debt is higher.
Key figures and ratios
EBITDA
-€6,111▼
2025 · €6,857
Cash flow
€6,511▼
2025 · €33,254
Debt to equity
0.00▲
2025 · 0.00
ROE
0.0%▲
2025 · -0.3%
ROA
0.0%▲
2025 · -0.3%
Interest coverage
-67.53▼
2025 · 0.90
Debt ≤ 1 year
€302▼
2025 · €1,627
Income taxes
€35▼
2025 · €180
A ratio outside any meaningful range has been withheld (balance sheet total €3.6m, equity €3.6m).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2022 | 2023 | 2024 | 2025 | 14-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €26,017 | - | - | - | - |
| Depreciation and write-downs of the year | €110,671 | €56,116 | €51,622 | €43,134 | €7,725 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €2.7m | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.1m | €0.1m | €0.1m | €0.1m | €0.06m | €0.05m | €0.04m | €0.008m | ▼ 82.1% |
| Other operating charges640/8 | - | - | - | €0.02m | €0.01m | €0.01m | €0.005m | €0.005m | €50 | ▼ 99.1% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €0.002m | €0 | - | - |
| Gross operating margin9900 | €0.1m | €0.1m | €0.1m | €0.2m | €0.1m | €2.8m | €0.01m | €0.01m | -€0.006m | - |
| Operating profit (loss)9901 | -€0.03m | €0.03m | €0.02m | €0.04m | €0.02m | €2.7m | -€0.05m | -€0.04m | -€0.01m | ▲ 61.9% |
| Financial income75/76B | - | - | - | €33 | €3 | €0.001m | €0.3m | €0.03m | €0.01m | ▼ 62.8% |
| Recurring financial income75 | €54 | €362 | €6 | €33 | €3 | €0.001m | €0.3m | €0.03m | €0.01m | ▼ 62.8% |
| Financial charges65/66B | - | - | - | €0.04m | €0.04m | €0.04m | €0.004m | €0.008m | €91 | ▼ 98.8% |
| Recurring financial charges65 | €0.04m | €0.05m | €0.04m | €0.04m | €0.04m | €0.04m | €0.004m | €0.008m | €91 | ▼ 98.8% |
| Profit (loss) for the period before taxes9903 | -€0.07m | -€0.02m | -€0.02m | €0.001m | -€0.02m | €2.7m | €0.2m | -€0.01m | -€0.001m | ▲ 87.8% |
| Income taxes67/77 | €0.001m | €0.003m | €235 | €0.001m | €225 | €0.8m | €0.02m | €180 | €35 | ▼ 80.5% |
| Profit (loss) for the period9904 | -€0.07m | -€0.02m | -€0.02m | €111 | -€0.02m | €1.8m | €0.2m | -€0.01m | -€0.001m | ▲ 87.7% |
| Profit (loss) for the period to be appropriated9905 | -€0.07m | -€0.02m | -€0.02m | €111 | -€0.02m | €1.8m | €0.2m | -€0.01m | -€0.001m | ▲ 87.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Total assets20/58 | €2.8m | €2.7m | €2.7m | €2.6m | €2.5m | €4.1m | €3.7m | €3.6m | €3.6m | = |
| Fixed assets21/28 | €2.8m | €2.7m | €2.7m | €2.6m | €2.5m | €1.7m | €1.6m | €1.6m | €1.6m | ▼ 0.5% |
| Tangible fixed assets22/27 | €2.8m | €2.7m | €2.7m | €2.6m | €2.5m | €1.7m | €1.6m | €1.6m | €1.6m | ▼ 0.5% |
| Land and buildings22 | - | - | - | €2.5m | €2.4m | €1.7m | €1.6m | €1.6m | €1.6m | ▼ 0.5% |
| Furniture and vehicles24 | - | - | - | €0.04m | €0.03m | €0.02m | €0.005m | €0 | - | - |
| Other tangible fixed assets26 | - | - | - | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Current assets29/58 | €0.03m | €0.02m | €0.03m | €0.05m | €0.06m | €2.4m | €2.0m | €2.0m | €2.0m | ▲ 0.4% |
| Amounts receivable within one year40/41 | €0.001m | €0.001m | €0.01m | €0.01m | €0.004m | €0.002m | €0.001m | €0.03m | €0.02m | ▼ 32.6% |
| Trade receivables40 | - | - | - | €0.01m | €0.004m | €0.002m | €0 | - | €0.002m | - |
| Other amounts receivable41 | - | - | - | €10 | €25 | - | €0.001m | €0.03m | €0.02m | ▼ 40.7% |
| Current investments50/53 | - | - | - | - | - | - | €2.0m | €2.0m | €1.6m | ▼ 19.7% |
| Cash at bank and in hand54/58 | €0.03m | €0.02m | €0.02m | €0.04m | €0.06m | €2.4m | €0.001m | €0.005m | €0.4m | ▲ 83× |
| Equity and liabilities | ||||||||||
| Total equity and liabilities10/49 | €2.8m | €2.7m | €2.7m | €2.6m | €2.5m | €4.1m | €3.7m | €3.6m | €3.6m | = |
| Equity10/15 | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | €3.4m | €3.6m | €3.6m | €3.6m | = |
| Contributions10/11 | €0.01m | €0.01m | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Reserves13 | €1.6m | €1.6m | €1.6m | €1.6m | €1.6m | €3.4m | €3.6m | €3.6m | €3.6m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | - | - | - | - | - |
| Distributable reserves133 | - | - | - | €1.6m | €1.6m | €3.4m | €3.6m | €3.6m | €3.6m | = |
| Profit (loss) carried forward14 | - | - | - | - | - | - | - | - | -€0.001m | - |
| Amounts payable17/49 | €1.2m | €1.1m | €1.1m | €1.0m | €1.0m | €0.7m | €0.04m | €0.002m | €0.004m | ▲ 126% |
| Amounts payable after more than one year17 | - | - | €0.04m | €0.03m | €0.02m | €0.006m | €0 | - | - | - |
| Financial debts170/4 | - | - | - | €0.03m | €0.02m | €0.006m | €0 | - | - | - |
| Amounts payable within one year42/48 | €1.2m | €1.1m | €1.1m | €1.0m | €0.9m | €0.7m | €0.04m | €0.002m | €302 | ▼ 81.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.01m | €0.01m | €0.01m | €0.006m | €0 | - | - |
| Trade debts44 | €0.002m | €0.005m | €455 | €411 | €0.001m | €0.008m | €0 | €0.001m | €0 | ▼ 100% |
| Suppliers440/4 | - | - | - | €411 | €0.001m | €0.008m | €0 | €0.001m | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.01m | €0.2m | €0.01m | €302 | €302 | = |
| Taxes450/3 | - | - | - | €0.01m | €0.01m | €0.2m | €0.01m | €302 | €302 | = |
| Other amounts payable47/48 | - | - | - | €1.0m | €0.9m | €0.4m | €0.01m | €0.001m | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | - | €0.003m | - | - | - | - | €0.003m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.07m | -€0.02m | -€0.02m | €111 | -€0.02m | €1.8m | €0.2m | -€0.01m | -€0.001m | ▲ 87.7% |
| + Depreciation and write-downs630 | €0.2m | €0.1m | €0.1m | €0.1m | €0.1m | €0.06m | €0.05m | €0.04m | €0.008m | ▼ 82.1% |
| Operating cash flow (approximation) | €0.08m | €0.08m | €0.08m | €0.1m | €0.09m | €1.9m | €0.2m | €0.03m | €0.007m | ▼ 80.4% |
| Investment in fixed assets (approximation) | - | -€0.02m | -€0.06m | €0 | -€0.03m | €0.7m | €0.002m | €0 | €0 | - |
| Change in cash | - | -€0.008m | €0.003m | €0.02m | €0.02m | €2.3m | -€2.4m | €0.004m | €0.4m | ▲ 94× |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 30 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 14-03-2026 | micro format | 23-07-2026 | 2026-00330473 | |
| 31-12-2025 | micro format | 23-07-2026 | 2026-00330472 | |
| 31-12-2024 | micro format | 16-07-2025 | 2025-00282140 | |
| 31-12-2023 | micro format | 16-07-2024 | 2024-00254769 | |
| 31-12-2022 | micro format | 05-07-2023 | 2023-00215876 | |
| 31-12-2021 | micro format | 04-07-2022 | 2022-20123965 | |
| 31-12-2020 | micro format | 15-07-2021 | 2021-35800154 | |
| 31-12-2019 | micro format | 22-07-2020 | 2020-32800339 | |
| 31-12-2018 | micro format | 22-07-2019 | 2019-35800170 | |
| 31-12-2017 | micro format | 19-07-2018 | 2018-34900101 |