Summary
Caviar Group has a registered holding activity and consists mainly of financial fixed assets; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €25.3m and a net result of -€450,493. Equity remains stable across the filed financial years (±1% per year). Its solvency ranks better than 53% of 3,800 sector peers (NACE 70, financial year 2025). The company has been active since 2014 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, full format, standalone accounts
Turnover
€115,560▼ 0.3%
2021 · €115,960
EBIT margin
Not meaningful: turnover is only a small part of operating income
Net result
-€450,493▲ 53.2%
2024 · -€961,970
Working capital
€7.6m
2024 · -€232,807
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €893,735 in 2025 against €26,075 in 2024; the loss grows and 2025 has the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€0.1m
2022
Operating result-€0.9m
2025
Net result-€0.5m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€44.1m
2025
Equity€25.3m
2025
Debt€18.8m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€7.6m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-1.0%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency57.3%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio3.64
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0.1m-€0.1m=€0.1m▼ 1.4%€0.1m▼ 16.1%€0.1m▼ 0.3%
Operating result€0.3m--€0.2m-€0.2m▲ 33.1%-€0.01m▲ 93.5%-€0.1m▼ 1,079%€0.05m-€0.03m-€0.9m▼ 3,328%
Net result€0.3m--€0.06m-€0.2mbelow the sector's middle half▼ 206%€0.5mabove the sector's middle half€7.5mabove the sector's middle half▲ 1,277%€1.6mabove the sector's middle half▼ 79.1%-€1.0mbelow the sector's middle half-€0.5mbelow the sector's middle half▲ 53.2%
Equity€24.2m-€24.1m▼ 0.3%€15.0mabove the sector's middle half▼ 37.7%€15.6mabove the sector's middle half▲ 3.6%€23.0mabove the sector's middle half▲ 47.9%€24.6mabove the sector's middle half▲ 6.8%€23.6mabove the sector's middle half▼ 3.9%€25.3mabove the sector's middle half▲ 7.0%
Total assets€30.1m-€30.8m▲ 2.4%€22.1mabove the sector's middle half▼ 28.2%€21.2mabove the sector's middle half▼ 4.1%€27.3mabove the sector's middle half▲ 28.5%€28.5mabove the sector's middle half▲ 4.7%€27.9mabove the sector's middle half▼ 2.4%€44.1mabove the sector's middle half▲ 58.3%
Debt€5.9m-€6.7m▲ 13.0%€7.1m▲ 5.8%€5.7m▼ 20.3%€4.3m▼ 24.9%€4.0m▼ 6.8%€4.2m▲ 7.1%€18.8m▲ 344%
Working capital-€4.5m--€4.6m▼ 2.2%€0.4mabove the sector's middle half-€1.0mbelow the sector's middle half-€0.7mbelow the sector's middle half▲ 30.2%€0.3mwithin the sector's middle half-€0.2mbelow the sector's middle half€7.6mabove the sector's middle half
Solvency80.3%-78.2%▼ 2.1pp67.9%within the sector's middle half▼ 10.3pp73.3%within the sector's middle half▲ 5.4pp84.4%above the sector's middle half▲ 11.1pp86.1%above the sector's middle half▲ 1.7pp84.8%above the sector's middle half▼ 1.3pp57.3%within the sector's middle half▼ 27.5pp
Current ratio0.12-0.23▲ 0.111.11within the sector's middle half▲ 0.880.68within the sector's middle half▼ 0.440.70within the sector's middle half▲ 0.021.41within the sector's middle half▲ 0.710.83within the sector's middle half▼ 0.583.64above the sector's middle half▲ 2.81
Return on assets (ROA)1.1%--0.2%▼ 1.3pp-0.9%below the sector's middle half▼ 0.7pp2.5%within the sector's middle half▲ 3.4pp27.3%above the sector's middle half▲ 24.8pp5.5%within the sector's middle half▼ 21.9pp-3.5%below the sector's middle half▼ 8.9pp-1.0%below the sector's middle half▲ 2.4pp
above
within
below
the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Why a figure moved sharply
- 2023 Net result -79% on 2022. Merger absorbing The Grange, effective 01-07-2022, in the previous financial year; now counts for a full year for the first time.
- 2022 Net result +1,277% on 2021. Merger absorbing The Grange, effective 01-07-2022. Merger absorbing Caviar Film and TV Europe, effective 29-06-2021, in the previous financial year; now counts for a full year for the first time.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €44.1m
Fixed assets
€33.6m ▲ 25.4%
Current assets
€10.5m ▲ 858%
Equity and liabilities €44.1m
Equity
€25.3m ▲ 7.0%
Debt
€18.8m ▲ 344%
Debt's share of the balance-sheet total rises from 15.2% to 42.7%. Equity and debt are higher.
Key figures and ratios
ROE
-1.8%▲
2024 · -4.1%
Debt ≤ 1 year
€2.9m▲
2024 · €1.3m
Debt > 1 year
€15.9m▲
2024 · €2.9m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | €0.1m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 44.6% |
| Turnover70 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | - | - | - | - |
| Other operating income74 | - | - | €0.004m | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | ▲ 44.6% |
| Non-recurring operating income76A | - | - | - | €0.03m | - | - | - | - | - |
| Operating charges60/66A | - | - | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | €1.1m | ▲ 506% |
| Goods for resale, raw materials and consumables60 | - | - | - | - | €144 | - | - | - | - |
| Services and other goods61 | - | - | €0.2m | €0.2m | €0.1m | €0.1m | €0.1m | €0.5m | ▲ 358% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | ▲ 6.6% |
| Other operating charges640/8 | - | - | €0.02m | €0.02m | €0.03m | €0.04m | €0.03m | €0.04m | ▲ 19.2% |
| Non-recurring operating charges66A | - | - | - | - | €0.2m | - | - | €0.5m | - |
| Operating profit (loss)9901 | €0.3m | -€0.2m | -€0.2m | -€0.01m | -€0.1m | €0.05m | -€0.03m | -€0.9m | ▼ 3,328% |
| Financial income75/76B | - | - | - | - | - | €1.6m | €0.04m | €0.7m | ▲ 1,529% |
| Recurring financial income75 | €0.1m | €0.3m | €0.05m | €0.6m | €7.8m | €1.6m | €0.04m | €0.7m | ▲ 1,529% |
| Income from financial fixed assets750 | - | - | €0.03m | €0.6m | €7.7m | €1.6m | - | €0.6m | - |
| Income from current assets751 | - | - | €0.01m | €0.03m | €0.01m | €0.02m | €0.04m | €0.05m | ▲ 13.8% |
| Other financial income752/9 | - | - | €0.009m | €0.002m | €0.004m | €0.01m | €2 | €0.003m | ▲ 212,217% |
| Non-recurring financial income76B | - | - | - | - | €0.004m | €0.003m | - | - | - |
| Financial charges65/66B | - | - | €0.08m | €0.09m | €0.2m | €0.1m | €1.0m | €0.2m | ▼ 76.2% |
| Recurring financial charges65 | €0.08m | €0.1m | €0.08m | €0.09m | €0.07m | €0.1m | €0.2m | €0.2m | ▲ 38.7% |
| Debt charges650 | €0.08m | €0.09m | €0.08m | €0.08m | €0.06m | €0.1m | €0.2m | €0.2m | ▲ 17.4% |
| Other financial charges652/9 | - | - | €0.001m | €0.01m | €0.004m | €0.03m | €0.005m | €0.04m | ▲ 742% |
| Non-recurring financial charges66B | - | - | - | - | €0.1m | - | €0.8m | - | - |
| Profit (loss) for the period before taxes9903 | €0.3m | -€0.06m | -€0.2m | €0.5m | €7.5m | €1.6m | -€1.0m | -€0.5m | ▲ 53.2% |
| Income taxes67/77 | €0.005m | - | €417 | - | - | - | - | - | - |
| Taxes670/3 | - | - | €417 | - | - | - | - | - | - |
| Profit (loss) for the period9904 | €0.3m | -€0.06m | -€0.2m | €0.5m | €7.5m | €1.6m | -€1.0m | -€0.5m | ▲ 53.2% |
| Profit (loss) for the period to be appropriated9905 | €0.3m | -€0.06m | -€0.2m | €0.5m | €7.5m | €1.6m | -€1.0m | -€0.5m | ▲ 53.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €30.1m | €30.8m | €22.1m | €21.2m | €27.3m | €28.5m | €27.9m | €44.1m | ▲ 58.3% |
| Formation expenses20 | - | - | - | - | - | €0 | €0 | €0 | - |
| Fixed assets21/28 | €29.5m | €29.5m | €17.9m | €19.2m | €25.7m | €27.4m | €26.8m | €33.6m | ▲ 25.4% |
| Intangible fixed assets21 | €0.4m | €0.4m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.1m | ▼ 63.8% |
| Tangible fixed assets22/27 | €0.8m | €0.7m | €0.7m | €0.7m | €0.6m | €0.6m | €0.6m | €0.2m | ▼ 60.3% |
| Land and buildings22 | - | - | €0.7m | €0.7m | €0.6m | €0.6m | €0.6m | €0.2m | ▼ 64.0% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | €0.04m | €0.04m | ▼ 3.1% |
| Financial fixed assets28 | €28.4m | €28.4m | €16.8m | €18.2m | €24.7m | €26.5m | €25.8m | €33.2m | ▲ 28.5% |
| Affiliated companies280/1 | - | - | €16.8m | €18.2m | €24.7m | €26.5m | €25.8m | €33.2m | ▲ 28.5% |
| Participating interests280 | - | - | €16.8m | €18.2m | €24.7m | €26.5m | €25.8m | €33.2m | ▲ 28.5% |
| Current assets29/58 | €0.6m | €1.4m | €4.3m | €2.0m | €1.6m | €1.1m | €1.1m | €10.5m | ▲ 858% |
| Amounts receivable after more than one year29 | - | - | €0.9m | €0.6m | €0.6m | €0 | - | €8.5m | - |
| Other amounts receivable291 | - | - | €0.9m | €0.6m | €0.6m | €0 | - | €8.5m | - |
| Amounts receivable within one year40/41 | €0.3m | €1.1m | €3.1m | €1.3m | €0.9m | €0.9m | €1.1m | €2.0m | ▲ 82.4% |
| Trade receivables40 | - | - | - | €0.001m | €0.002m | €460 | €0.04m | €312 | ▼ 99.3% |
| Other amounts receivable41 | - | - | €3.1m | €1.3m | €0.9m | €0.9m | €1.0m | €2.0m | ▲ 90.0% |
| Cash at bank and in hand54/58 | €0.3m | €0.2m | €0.3m | €0.2m | €0.07m | €0.2m | €0.03m | €0.09m | ▲ 227% |
| Deferred charges and accrued income490/1 | - | - | - | - | €376 | €396 | €431 | €0.001m | ▲ 154% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €30.1m | €30.8m | €22.1m | €21.2m | €27.3m | €28.5m | €27.9m | €44.1m | ▲ 58.3% |
| Equity10/15 | €24.2m | €24.1m | €15.0m | €15.6m | €23.0m | €24.6m | €23.6m | €25.3m | ▲ 7.0% |
| Contributions10/11 | €7.4m | €7.4m | €7.4m | €7.4m | €7.4m | €7.4m | €7.4m | €10.3m | ▲ 38.2% |
| Capital10 | - | - | €7.4m | €7.4m | €7.4m | €7.4m | €7.4m | - | - |
| Issued capital100 | - | - | €7.4m | €7.4m | €7.4m | €7.4m | €7.4m | - | - |
| Uncalled capital101 | - | - | - | - | - | €0 | €0 | - | - |
| Reserves13 | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | - | - |
| Non-distributable reserves130/1 | - | - | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | - | - |
| Legal reserve130 | - | - | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | - | - |
| Profit (loss) carried forward14 | €7.1m | €7.0m | €6.9m | €7.4m | €14.8m | €16.4m | €15.4m | €15.0m | ▼ 2.9% |
| Amounts payable17/49 | €5.9m | €6.7m | €7.1m | €5.7m | €4.3m | €4.0m | €4.2m | €18.8m | ▲ 344% |
| Amounts payable after more than one year17 | €0.8m | €0.8m | €3.3m | €2.6m | €2.0m | €3.2m | €2.9m | €15.9m | ▲ 447% |
| Financial debts170/4 | - | - | €3.3m | €2.6m | €2.0m | €3.2m | €2.9m | €14.4m | ▲ 396% |
| Credit institutions173 | - | - | €3.3m | €2.6m | €2.0m | €1.4m | €0.8m | €10.7m | ▲ 1,222% |
| Other loans174 | - | - | - | - | - | €1.8m | €2.1m | €3.8m | ▲ 79.4% |
| Other amounts payable178/9 | - | - | - | - | - | - | - | €1.5m | - |
| Amounts payable within one year42/48 | €5.1m | €5.9m | €3.8m | €3.0m | €2.3m | €0.8m | €1.3m | €2.9m | ▲ 117% |
| Current portion of amounts payable after more than one year42 | - | - | €0.6m | €0.6m | €0.7m | €0.6m | €0.6m | €2.1m | ▲ 267% |
| Financial debts43 | - | - | €1.0m | €1.0m | €0.9m | - | - | - | - |
| Credit institutions430/8 | - | - | €1.0m | €1.0m | €0.9m | - | - | - | - |
| Trade debts44 | €0.01m | €0.3m | €0.2m | €0.03m | €0.1m | €0.01m | €0.05m | €0.4m | ▲ 708% |
| Suppliers440/4 | - | - | €0.2m | €0.03m | €0.1m | €0.01m | €0.05m | €0.4m | ▲ 708% |
| Taxes, remuneration and social security45 | - | - | - | - | - | €0.001m | - | - | - |
| Taxes450/3 | - | - | - | - | - | €0.001m | - | - | - |
| Other amounts payable47/48 | - | - | €2.0m | €1.3m | €0.6m | €0.2m | €0.7m | €0.4m | ▼ 46.2% |
| Accrued charges and deferred income492/3 | - | - | - | €0.01m | €0.003m | €0.003m | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.3m | -€0.06m | -€0.2m | €0.5m | €7.5m | €1.6m | -€1.0m | -€0.5m | ▲ 53.2% |
| + Depreciation and write-downs630 | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | ▲ 6.6% |
| Operating cash flow (approximation) | €0.4m | -€0.02m | -€0.2m | €0.6m | €7.5m | €1.6m | -€0.9m | -€0.4m | ▲ 55.8% |
| Investment in fixed assets (approximation) | - | -€0.009m | €11.6m | -€1.4m | -€6.5m | -€1.8m | €0.6m | -€6.8m | - |
| Change in cash | - | -€0.06m | €0.03m | -€0.1m | -€0.08m | €0.1m | -€0.2m | €0.06m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 15 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 30-06-2026 | 2026-00226110 |
| 31-12-2024 | full format | 30-06-2025 | 2025-00208949 |
| 31-12-2023 | full format | 16-07-2024 | 2024-00254360 |
| 31-12-2022 | full format | 18-12-2023 | 2023-00529954 |
| 31-12-2021 | consolidated | 07-07-2022 | 2022-20163046 |
| 31-12-2021 | full format | 30-06-2022 | 2022-20134614 |
| 31-12-2020 | consolidated | 22-09-2021 | 2021-68200027 |
| 31-12-2020 | full format | 12-07-2021 | 2021-34500245 |
| 31-12-2019 | consolidated | 29-12-2020 | 2020-77500248 |
| 31-12-2019 | full format | 01-12-2020 | 2020-73900195 |
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Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.