Cavalin
ActiveSummary
Cavalin has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €135,930 and a net result of €59,907. Equity remains stable across the filed fiscal years (±1.9% per year). Its solvency ranks better than 44% of 3163 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability83▲+11
Solvency52▼-4
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity short (current ratio 0.96 against 1.09 in 2024; short-term debt: 59.4% and cash: 21.4% of total assets), and 73.2% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 01
Relative position
BE, all sectors
reference
Crop and animal production, hunting and related service activities (NACE 01)
about 70% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
26.8%
Return on assets
11.8%
Age of the figures
9 mo
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 14-07-2026, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 d early
2024
16 d early
2023
14 d early
2022
9 d early
2021
5 d early
2020
30 d late
2019
52 d late
← 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 3 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 37% of the sector filed late.
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. Usually files around 18 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€135,930▼ 14.2%
2024 · €158,426
Total assets
€507,836▼ 0.8%
2024 · €512,155
Net result
€59,907▲ 304%
2024 · €14,816
Working capital
-€12,581
2024 · €20,305
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 01, Crop and animal production, hunting and related service activities, 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
Line20212022202320242025
Operating result-€51,723▼ 2,438%€11,573€68,889▲ 495%€25,339▼ 63.2%€91,052▲ 259%
Net result-€59,601below the sector's middle half▼ 977%€5,042within the sector's middle half€60,548within the sector's middle half▲ 1,101%€14,816within the sector's middle half▼ 75.5%€59,907above the sector's middle half▲ 304%
Equity€78,020below the sector's middle half▼ 43.3%€83,062below the sector's middle half▲ 6.5%€143,610below the sector's middle half▲ 72.9%€158,426below the sector's middle half▲ 10.3%€135,930within the sector's middle half▼ 14.2%
Total assets€424,757below the sector's middle half▼ 16.3%€637,584below the sector's middle half▲ 50.1%€513,779below the sector's middle half▼ 19.4%€512,155below the sector's middle half▼ 0.3%€507,836within the sector's middle half▼ 0.8%
Debt€346,737▼ 6.3%€554,522▲ 59.9%€370,169▼ 33.2%€353,729▼ 4.4%€371,906▲ 5.1%
Working capital-€13,536within the sector's middle half-€6,984within the sector's middle half▲ 48.4%€47,940within the sector's middle half€20,305within the sector's middle half▼ 57.6%-€12,581within the sector's middle half
Solvency18.4%within the sector's middle half▼ 8.7pp13.0%below the sector's middle half▼ 5.3pp28.0%within the sector's middle half▲ 14.9pp30.9%within the sector's middle half▲ 3.0pp26.8%within the sector's middle half▼ 4.2pp
Current ratio0.92within the sector's middle half▼ 0.410.98within the sector's middle half▲ 0.071.17within the sector's middle half▲ 0.181.09within the sector's middle half▼ 0.080.96within the sector's middle half▼ 0.13
Return on assets (ROA)-14.0%below the sector's middle half▼ 12.9pp0.8%within the sector's middle half▲ 14.8pp11.8%within the sector's middle half▲ 11.0pp2.9%within the sector's middle half▼ 8.9pp11.8%above the sector's middle half▲ 8.9pp
Staff (FTE)0below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 01, Crop and animal production, hunting and related service activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 259% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €507,836
Fixed assets
€218,599 ▼ 17.4%
Current assets
€289,237 ▲ 16.9%
Equity and liabilities €507,836
Equity
€135,930 ▼ 14.2%
Debt
€371,906 ▲ 5.1%
Debt's share of the balance-sheet total rises from 69.1% to 73.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€142,876▲
2024 · €71,507
Cash flow
€111,732▲
2024 · €60,983
Quick ratio
0.38▲
2024 · 0.20
Debt to equity
2.74▲
2024 · 2.23
ROE
44.1%▲
2024 · 9.4%
Interest coverage
22.80▲
2024 · 10.95
Debt ≤ 1 year
€301,819▲
2024 · €227,077
Debt > 1 year
€70,083▼
2024 · €126,608
Income taxes
€24,878▲
2024 · €3,999
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,613 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 97% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
2.0%
stopped otherwise
97%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 2,613 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €67,243 | €53,353 | €53,104 | €46,167 | €51,825 | ▲ 12.3% |
| Other operating charges640/8 | €3,797 | €3,891 | €4,477 | €4,559 | €4,541 | ▼ 0.4% |
| Non-recurring operating charges66A | - | - | - | €217 | €0 | ▼ 100% |
| Gross operating margin9900 | €19,316 | €68,816 | €126,470 | €76,283 | €147,417 | ▲ 93.3% |
| Operating profit (loss)9901 | -€51,723 | €11,573 | €68,889 | €25,339 | €91,052 | ▲ 259% |
| Financial income75/76B | €70 | - | €1 | €4 | €1 | ▼ 79.1% |
| Recurring financial income75 | €70 | - | €1 | €4 | €1 | ▼ 79.1% |
| Financial charges65/66B | €7,680 | €6,240 | €5,006 | €6,529 | €6,267 | ▼ 4.0% |
| Recurring financial charges65 | €7,680 | €6,240 | €5,006 | €6,529 | €6,267 | ▼ 4.0% |
| Profit (loss) for the period before taxes9903 | -€59,333 | €5,333 | €63,884 | €18,814 | €84,785 | ▲ 351% |
| Income taxes67/77 | €268 | €290 | €3,336 | €3,999 | €24,878 | ▲ 522% |
| Profit (loss) for the period9904 | -€59,601 | €5,042 | €60,548 | €14,816 | €59,907 | ▲ 304% |
| Profit (loss) for the period to be appropriated9905 | -€59,601 | €5,042 | €60,548 | €14,816 | €59,907 | ▲ 304% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €424,757 | €637,584 | €513,779 | €512,155 | €507,836 | ▼ 0.8% |
| Fixed assets21/28 | €276,329 | €224,816 | €180,108 | €264,774 | €218,599 | ▼ 17.4% |
| Tangible fixed assets22/27 | €276,329 | €224,816 | €180,108 | €264,774 | €218,599 | ▼ 17.4% |
| Land and buildings22 | €177,134 | €158,948 | €145,662 | €133,431 | €119,102 | ▼ 10.7% |
| Plant, machinery and equipment23 | €2,778 | €3,550 | €6,229 | €83,604 | €63,256 | ▼ 24.3% |
| Furniture and vehicles24 | €60,537 | €44,377 | €28,217 | €47,739 | €36,241 | ▼ 24.1% |
| Leasing and similar rights25 | €35,880 | €17,940 | €0 | - | - | - |
| Current assets29/58 | €148,428 | €412,768 | €333,671 | €247,381 | €289,237 | ▲ 16.9% |
| Stocks and contracts in progress3 | €46,090 | €40,911 | €180,767 | €201,856 | €173,100 | ▼ 14.2% |
| Stocks30/36 | €46,090 | €40,911 | €180,767 | €201,856 | €173,100 | ▼ 14.2% |
| Amounts receivable within one year40/41 | €961 | €367,537 | €137,068 | €15,895 | €1,000 | ▼ 93.7% |
| Trade receivables40 | €961 | €367,537 | €128,597 | €1,585 | €1,000 | ▼ 36.9% |
| Other amounts receivable41 | - | - | €8,470 | €14,310 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €97,517 | €106 | €15,765 | €23,962 | €108,765 | ▲ 354% |
| Deferred charges and accrued income490/1 | €3,860 | €4,214 | €71 | €5,668 | €6,373 | ▲ 12.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €424,757 | €637,584 | €513,779 | €512,155 | €507,836 | ▼ 0.8% |
| Equity10/15 | €78,020 | €83,062 | €143,610 | €158,426 | €135,930 | ▼ 14.2% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €124,564 | €124,564 | €125,018 | €139,834 | €117,338 | ▼ 16.1% |
| Non-distributable reserves130/1 | €1,859 | €1,859 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,859 | €1,859 | €0 | - | - | - |
| Distributable reserves133 | €122,705 | €122,705 | €125,018 | €139,834 | €117,338 | ▼ 16.1% |
| Profit (loss) carried forward14 | -€65,136 | -€60,094 | €0 | - | €0 | - |
| Amounts payable17/49 | €346,737 | €554,522 | €370,169 | €353,729 | €371,906 | ▲ 5.1% |
| Amounts payable after more than one year17 | €184,772 | €134,678 | €84,391 | €126,608 | €70,083 | ▼ 44.6% |
| Financial debts170/4 | €184,772 | €134,678 | €84,391 | €126,608 | €70,083 | ▼ 44.6% |
| Amounts payable within one year42/48 | €161,965 | €419,752 | €285,730 | €227,077 | €301,819 | ▲ 32.9% |
| Current portion of amounts payable after more than one year42 | €59,904 | €50,094 | €50,287 | €61,534 | €56,524 | ▼ 8.1% |
| Financial debts43 | - | €19,309 | €0 | - | - | - |
| Credit institutions430/8 | - | €19,309 | €0 | - | - | - |
| Trade debts44 | €86,873 | €320,213 | €215,228 | €142,974 | €125,598 | ▼ 12.2% |
| Suppliers440/4 | €86,873 | €320,213 | €215,228 | €142,974 | €125,598 | ▼ 12.2% |
| Taxes, remuneration and social security45 | €5,557 | €17,310 | €4,223 | €2,850 | €27,717 | ▲ 873% |
| Taxes450/3 | €5,557 | €4,560 | €4,223 | €2,850 | €27,717 | ▲ 873% |
| Remuneration and social security454/9 | - | €12,750 | €0 | - | - | - |
| Other amounts payable47/48 | €9,631 | €12,826 | €15,991 | €19,719 | €91,979 | ▲ 366% |
| Accrued charges and deferred income492/3 | - | €91 | €47 | €45 | €4 | ▼ 91.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€59,601 | €5,042 | €60,548 | €14,816 | €59,907 | ▲ 304% |
| + Depreciation and write-downs630 | €67,243 | €53,353 | €53,104 | €46,167 | €51,825 | ▲ 12.3% |
| Operating cash flow (approximation) | €7,641 | €58,395 | €113,653 | €60,983 | €111,732 | ▲ 83.2% |
| Investment in fixed assets (approximation) | - | -€1,840 | -€8,397 | -€130,833 | -€5,650 | ▲ 95.7% |
| Change in cash | - | -€97,412 | €15,659 | €8,197 | €84,803 | ▲ 935% |
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
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
15-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Equity above €150,000Eq €158,426 ▲10.3%
3 profitable years in a row build equity to €158,426.
17-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €60,548 ▲1,101%
Net result €60,548, the highest in the series.
31-12
Financial
Equity above €100,000Eq €143,610 ▲72.9%
2 profitable years in a row build equity to €143,610.
22-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €5,042
Net result €5,042 after 2 loss-making years.
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet -€59,601
Net result drops to -€59,601, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
21-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 52 days late
Show earlier events
2019
20-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 20 days late
2018
21-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 21 days late
2017
26-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Heuvelland · 1 establishment unit since 1999
Ground area
5.1 ha
Building footprint
406 m²
Volume, LiDAR
2,228 m³
2 parcels, Flanders · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Vrooilandstraat(Wulv) 6, 8952 Heuvelland
since 19992.090.251.317
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 33012C0676/00K000 | Flanders | 2.7 ha | 1 · 190 m² | 8.4 m · 2 fl. |
| 33034A0131/00X000 | Flanders | 2.4 ha | 1 · 216 m² | 8.2 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteHeuvelland2.090.251.317
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Of 129 companies in sector 01479 we hold annual accounts for 47. 35 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
Founded17-12-1998
Fiscal year end31-12
Activities, NACEBEL 2025
01479Crop and animal production, hunting and related service activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0464863788
Also
9925:BE0464863788
Registered
03-01-2025
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.