CONVAS (0773.392.183): financials and annual accounts

CONVAS

Ghent ·KBO/BCE: BE 0773.392.183

Line	2025	2024	2023	2022	2021
Balance sheet: assets
Total assets`20/58`	1.0m	866,165	590,623	317,631	83,209
Fixed assets`21/28`	365,070	222,287	144,329	55,107	2,336
Intangible fixed assets`21`	3,132	6,183	3,050	4,717	-
Tangible fixed assets`22/27`	361,937	216,104	141,279	50,390	2,336
Plant, machinery and equipment`23`	4,420	5,350	4,363	1,542	2,336
Furniture and vehicles`24`	28,576	12,636	9,999	-	-
Leasing and similar rights`25`	108,594	149,232	84,716	48,849	-
Other tangible fixed assets`26`	220,348	48,886	42,202	-	-
Current assets`29/58`	647,544	643,878	446,294	262,523	80,873
Amounts receivable within one year`40/41`	599,010	590,839	394,340	110,073	40,023
Trade receivables`40`	19,991	74,891	18,301	19,011	18,305
Other amounts receivable`41`	579,019	515,948	376,039	91,062	21,718
Cash at bank and in hand`54/58`	44,693	31,982	46,587	149,304	40,850
Deferred charges and accrued income`490/1`	3,841	21,057	5,366	3,146	-
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	1.0m	866,165	590,623	317,631	83,209
Equity`10/15`	408,967	311,019	343,381	218,468	29,143
Contributions`10/11`	5,000	5,000	5,000	5,000	5,000
Profit (loss) carried forward`14`	403,967	306,019	338,381	213,468	24,143
Amounts payable`17/49`	603,646	555,146	247,242	99,162	54,066
Amounts payable after more than one year`17`	247,605	116,762	65,590	35,024	-
Financial debts`170/4`	247,605	116,762	65,590	35,024	-
Amounts payable within one year`42/48`	354,541	436,884	180,152	64,138	54,066
Current portion of amounts payable after more than one year`42`	87,337	45,433	33,055	7,190	-
Trade debts`44`	111,179	101,585	87,750	211	44,607
Suppliers`440/4`	111,179	101,585	87,750	211	44,607
Taxes, remuneration and social security`45`	10,210	6,469	59,347	56,737	9,460
Taxes`450/3`	-	0	56,737	56,737	9,460
Remuneration and social security`454/9`	10,210	6,469	2,610	-	-
Other amounts payable`47/48`	145,815	283,397	-	-	-
Accrued charges and deferred income`492/3`	1,500	1,500	1,500	-	-
Income statement
Gross operating margin`9900`	307,876	334,727	203,066	251,449	31,027
Remuneration, social security and pensions`62`	83,120	55,463	20,218	332	-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	71,014	48,807	18,156	4,670	48
Other operating charges`640/8`	15,546	4,169	1,349	979	680
Operating profit (loss)`9901`	138,197	226,288	163,343	245,469	30,298
Financial income`75/76B`	9,586	7,843	3,391	1,447	61
Recurring financial income`75`	9,586	7,843	3,391	1,447	61
Financial charges`65/66B`	15,211	11,857	3,922	854	12
Recurring financial charges`65`	15,211	11,857	3,922	854	12
Profit (loss) for the period before taxes`9903`	132,572	222,275	162,812	246,062	30,347
Income taxes`67/77`	34,623	54,637	37,899	56,737	6,204
Profit (loss) for the period`9904`	97,949	167,637	124,913	189,325	24,143
Profit (loss) for the period to be appropriated`9905`	97,949	167,637	124,913	189,325	24,143
Appropriation of the result
Profit (loss) to be appropriated`9906`	403,967	506,019	338,381	213,468	24,143
Profit (loss) brought forward from the previous period`14P`	306,019	338,381	213,468	24,143	-
Profit to be distributed`694/7`	0	200,000	-	-	-
Return on contributions (dividend)`694`	0	200,000	-	-	-
Social balance sheet
Average staff (FTE)`9087`	1	1	-	-	-
Hours worked`1013`	1,680	1,201	-	-	-
Document	PDF	PDF	PDF	PDF	PDF

Financial year	Type	Filed	Reference	Document
31-12-2025	abbreviated format	10-07-2026	2026-00278654	PDF
31-12-2024	abbreviated format	04-07-2025	2025-00229468	PDF
31-12-2023	micro format	03-07-2024	2024-00199628	PDF
31-12-2022	micro format	11-03-2024	2024-00041409	PDF
31-12-2021	micro format	27-06-2022	2022-20094423	PDF

Year	Entries	Awarded	Paid
2023	1	€3,000	€3,000
2022	1	€7,260	€7,260

Line	2025	2024	2023	2022	2021
EBITDA	209,211	275,095	181,499	250,139	30,346
Cash flow	168,963	216,444	143,069	193,995	24,191
Investment in fixed assets	213,797	126,764	107,378	57,440	2,384
Change in cash	12,711	-14,605	-102,717	108,454	-
Working capital	293,002	206,994	266,142	198,385	26,807
Solvency	40.4%	35.9%	58.1%	68.8%	35.0%
Current ratio	1.83	1.47	2.48	4.09	1.50
Debt to equity	1.48	1.78	0.72	0.45	1.86
ROE	24.0%	53.9%	36.4%	86.7%	82.8%
ROA	9.7%	19.4%	21.1%	59.6%	29.0%
Interest coverage	13.75	23.20	46.28	over 100	over 100

Item	31-12-2025	31-12-2024
Employees at the balance-sheet date	1	1
full-time	1	1
part-time	0	0
in full-time equivalents	1	1
Average over the year, in full-time equivalents	1	1
On a permanent contract	1	1
Training hours	-	4

CONVAS

Annual accounts 2025

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency40.4%

Current ratio1.83

Return on assets9.7%

Staff

Staff cost per FTE€83,120

Filed annual accounts

Filings

Subsidies and aid

Flemish government 2022 to 2023, 2 entries, €10,260 awarded, €10,260 paid

Key figures and ratios

Social balance sheet

Securities and guarantees

Investments

Insights on CONVAS

Next steps

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€213,797	€121,764	€107,378	€52,440	€2,384
Intangible fixed assets	-	€5,000	-	€5,000	-
Depreciation and write-downs of the year	€71,014	€48,807	€18,156	€4,670	€48