CORVAN

Active

Public limited companyfounded 199729 yrs activeKrommebeekpark 25, 8800 Roeselare, BelgiumKBO/BCE: BE 0461.126.221

Summary

CORVAN has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €749,448 and a net result of €54,860. Equity is growing by ~7.3% per year across the filed fiscal years. Its solvency ranks better than 43% of 8115 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).

Risk analysis Watch Report Compare

CORVANActiveChecked score 78/100

Risk analysis Report Compare

Checked score

Score 2025

78 / 100

Excellent

Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability72▲+63

Solvency63▲+1

Growth52=

Track record100

Bankruptcy probability, 12 months

0.3% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €55,000 at 30 days acceptable

Liquidity ample (current ratio 3.07 against 4.07 in 2024; short-term debt: 12.1% and cash: 26.4% of total assets), but 62.3% of the assets are financed with debt.

Credit check for your own amount and term

Show the recommended maximum : and see how the verdict changes with amount, term and advance.

Signals

Five signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

37.7%

Return on assets

2.8%

Age of the figures

12 mo

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

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 →

Latest accounts filed on time

The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 09-02-2026, 80 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

80 d early

2024

27 d early

2023

42 d early

2022

13 d early

2021

37 d early

2020

37 d early

2019

14 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 36 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)

The next deadline is still running

The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.

Companies Code · seven months

Position in the running window

28-09-2026 today30-09-2026 close30-04-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

History

CORVAN was incorporated on 11 July 1997.¹ Total assets rose from EUR 714,112 in 2018 to EUR 2 million in 2025 and headcount from 6.2 to 4.1 full-time equivalents.²

Go further with this company

How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money How does this company compare with its sector?Sector benchmark

Is this your company? See how customers and banks see it.

Investigating this company? Keep it with today's facts in a case file.

Financials · fiscal year 2025, abbreviated schema

Equity

€749,448▲ 0.7%

2024 · €744,588

Total assets

€2.0m▼ 1.8%

2024 · €2.0m

Net result

€54,860

2024 · -€162,999

Working capital

€497,194▼ 8.7%

2024 · €544,718

Trend over the years

Chart Table

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

Line20212022202320242025

Operating result€65,325▲ 42.0%€203,435▲ 211%€177,291▼ 12.9%-€149,973€66,832

Net result€61,668▲ 164%€187,707▲ 204%€118,242▼ 37.0%-€162,999€54,860

Equity€601,638▲ 11.4%€789,345▲ 31.2%€907,587▲ 15.0%€744,588▼ 18.0%€749,448▲ 0.7%

Total assets€1.4m▲ 33.0%€2.2m▲ 59.5%€2.2m▼ 0.8%€2.0m▼ 8.6%€2.0m▼ 1.8%

Debt€797,810▲ 55.6%€1.4m▲ 80.8%€1.3m▼ 9.4%€1.3m▼ 2.0%€1.2m▼ 3.2%

Working capital€490,218▲ 85.1%€587,844▲ 19.9%€656,724▲ 11.7%€544,718▼ 17.1%€497,194▼ 8.7%

Solvency43.0%▼ 8.3pp35.4%▼ 7.6pp41.0%▲ 5.6pp36.8%▼ 4.2pp37.7%▲ 0.9pp

Staff (FTE)5.9▼ 6.3%6.4▲ 8.5%5.7▼ 10.9%4.6▼ 19.3%4.1▼ 10.9%

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 abbreviated schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result returns to profit in 2025: €66,832 after a loss of €149,973 in 2024.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €2.0m

62.9%

37.1%

Fixed assets €1.3m ▼ 4.0%

Current assets €737,707 ▲ 2.2%

Equity and liabilities €2.0m

37.7%

62.3%

Equity €749,448 ▲ 0.7%

Debt €1.2m ▼ 3.2%

Debt's share of the balance-sheet total falls from 63.2% to 62.3%. Equity is higher and debt is lower.

Key figures and ratios

2025 value · change against 2024

EBITDA

€156,001▲

2024 · -€62,924

Cash flow

€144,030▲

2024 · -€75,950

Current ratio

3.07▼

2024 · 4.07

Quick ratio

2.91▼

2024 · 3.49

Debt to equity

1.65▼

2024 · 1.72

ROE

7.3%▲

2024 · -21.9%

ROA

2.8%▲

2024 · -8.0%

Interest coverage

13.29▲

2024 · -5.10

Debt ≤ 1 year

€240,512▲

2024 · €177,192

Debt > 1 year

€984,883▼

2024 · €1.0m

Income taxes

€824▼

2024 · €1,118

Staff costs

€332,093▼

2024 · €358,412

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of 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 0.3% 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%.

The companies in ten equal groups, from lowest to highest expected share.
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

OverviewIncome statement Balance sheet Cash flow

Filed annual accounts As filed with the NBB · 2025 against 2024 · 58 lines

Balance sheet Code20242025

Assets

Total assets20/58€2.0m€2.0m▼

Fixed assets21/28€1.3m€1.3m▼

Tangible fixed assets22/27€1.3m€1.3m▼

Land and buildings22€976,688€938,598▼

Plant, machinery and equipment23€294,987€258,978▼

Furniture and vehicles24€31,324€22,925▼

Leasing and similar rights25-€30,517

Current assets29/58€721,910€737,707▲

Stocks and contracts in progress3€103,089€37,292▼

Stocks30/36€25,000€25,000=

Contracts in progress37€78,089€12,292▼

Amounts receivable within one year40/41€167,288€175,526▲

Trade receivables40€167,288€175,526▲

Cash at bank and in hand54/58€451,533€524,889▲

Equity and liabilities

Total equity and liabilities10/49€2.0m€2.0m▼

Equity10/15€744,588€749,448▲

Contributions10/11€62,000€62,000=

Capital10€62,000€62,000=

Issued capital100€62,000€62,000=

Reserves13€548,700€548,700=

Non-distributable reserves130/1€6,200€6,200=

Legal reserve130€6,200€6,200=

Tax-exempt reserves132€47,500€47,500=

Distributable reserves133€495,000€495,000=

Profit (loss) carried forward14€133,888€138,748▲

Amounts payable17/49€1.3m€1.2m▼

Amounts payable after more than one year17€1.0m€984,883▼

Financial debts170/4€1.0m€984,883▼

Amounts payable within one year42/48€177,192€240,512▲

Current portion of amounts payable after more than one year42€62,496€69,054▲

Trade debts44€48,146€38,132▼

Suppliers440/4€48,146€38,132▼

Taxes, remuneration and social security45€57,369€74,145▲

Taxes450/3€5,003€15,441▲

Remuneration and social security454/9€52,366€58,703▲

Other amounts payable47/48€9,181€59,181▲

Accrued charges and deferred income492/3€79,424€13,880▼

Income statement Code20242025

Remuneration, social security and pensions62€358,412€332,093▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€87,049€89,169▲

Other operating charges640/8€5,736€11,595▲

Gross operating margin9900€301,225€499,689▲

Operating profit (loss)9901-€149,973€66,832▲

Financial income75/76B€433€588▲

Recurring financial income75€433€588▲

Financial charges65/66B€12,341€11,735▼

Recurring financial charges65€12,341€11,735▼

Profit (loss) for the period before taxes9903-€161,882€55,685▲

Income taxes67/77€1,118€824▼

Profit (loss) for the period9904-€162,999€54,860▲

Profit (loss) for the period to be appropriated9905-€162,999€54,860▲

Appropriation of the result

Profit (loss) to be appropriated9906€133,888€188,748▲

Profit (loss) brought forward from the previous period14P€296,887€133,888▼

Transfer from equity791/2-€50,000

Transfer to equity691/2-€50,000

To other reserves6921-€50,000

Profit to be distributed694/7-€50,000

Return on contributions (dividend)694-€50,000

Social balance

Average headcount (FTE)90874.64.1▼

The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line	2021	2022	2023	2024	2025	Change
Non-recurring operating income76A	-	€413	€190	-	-	-
Remuneration, social security and pensions62	-	€422,286	€423,914	€358,412	€332,093	▼ 7.3%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€19,388	€63,789	€81,598	€87,049	€89,169	▲ 2.4%
Other operating charges640/8	-	€2,180	€9,208	€5,736	€11,595	▲ 102%
Gross operating margin9900	€477,435	€691,690	€692,010	€301,225	€499,689	▲ 65.9%
Operating profit (loss)9901	€65,325	€203,435	€177,291	-€149,973	€66,832	▲ 145%
Financial income75/76B	-	€946	€873	€433	€588	▲ 36.0%
Recurring financial income75	€2,135	€946	€873	€433	€588	▲ 36.0%
Financial charges65/66B	-	€9,435	€12,835	€12,341	€11,735	▼ 4.9%
Recurring financial charges65	€4,086	€9,435	€12,835	€12,341	€11,735	▼ 4.9%
Profit (loss) for the period before taxes9903	€63,374	€194,946	€165,328	-€161,882	€55,685	▲ 134%
Income taxes67/77	€1,706	€7,239	€47,086	€1,118	€824	▼ 26.2%
Profit (loss) for the period9904	€61,668	€187,707	€118,242	-€162,999	€54,860	▲ 134%
Profit (loss) for the period to be appropriated9905	€61,668	€187,707	€118,242	-€162,999	€54,860	▲ 134%

Line	2021	2022	2023	2024	2025	Change
Assets
Total assets20/58	€1.4m	€2.2m	€2.2m	€2.0m	€2.0m	▼ 1.8%
Fixed assets21/28	€685,486	€1.4m	€1.4m	€1.3m	€1.3m	▼ 4.0%
Tangible fixed assets22/27	€680,486	€1.4m	€1.4m	€1.3m	€1.3m	▼ 4.0%
Land and buildings22	-	€1.0m	€1.0m	€976,688	€938,598	▼ 3.9%
Plant, machinery and equipment23	-	€345,666	€322,049	€294,987	€258,978	▼ 12.2%
Furniture and vehicles24	-	€24,483	€18,345	€31,324	€22,925	▼ 26.8%
Leasing and similar rights25	-	-	-	-	€30,517	-
Financial fixed assets28	€5,000	€5,000	-	-	-	-
Current assets29/58	€713,962	€814,269	€859,344	€721,910	€737,707	▲ 2.2%
Stocks and contracts in progress3	€25,000	€162,528	€64,604	€103,089	€37,292	▼ 63.8%
Stocks30/36	-	€25,000	€25,000	€25,000	€25,000	=
Contracts in progress37	-	€137,528	€39,604	€78,089	€12,292	▼ 84.3%
Amounts receivable within one year40/41	€331,006	€295,954	€407,294	€167,288	€175,526	▲ 4.9%
Trade receivables40	-	€241,119	€404,294	€167,288	€175,526	▲ 4.9%
Other amounts receivable41	-	€54,836	€3,000	-	-	-
Cash at bank and in hand54/58	€311,728	€348,977	€385,176	€451,533	€524,889	▲ 16.2%
Deferred charges and accrued income490/1	-	€6,810	€2,270	-	-	-
Equity and liabilities
Total equity and liabilities10/49	€1.4m	€2.2m	€2.2m	€2.0m	€2.0m	▼ 1.8%
Equity10/15	€601,638	€789,345	€907,587	€744,588	€749,448	▲ 0.7%
Contributions10/11	€62,000	€62,000	€62,000	€62,000	€62,000	=
Capital10	-	€62,000	€62,000	€62,000	€62,000	=
Issued capital100	-	€62,000	€62,000	€62,000	€62,000	=
Reserves13	€498,700	€523,700	€548,700	€548,700	€548,700	=
Non-distributable reserves130/1	-	€6,200	€6,200	€6,200	€6,200	=
Legal reserve130	-	€6,200	€6,200	€6,200	€6,200	=
Tax-exempt reserves132	-	€47,500	€47,500	€47,500	€47,500	=
Distributable reserves133	-	€470,000	€495,000	€495,000	€495,000	=
Profit (loss) carried forward14	€40,938	€203,645	€296,887	€133,888	€138,748	▲ 3.6%
Amounts payable17/49	€797,810	€1.4m	€1.3m	€1.3m	€1.2m	▼ 3.2%
Amounts payable after more than one year17	€411,610	€1.0m	€1.1m	€1.0m	€984,883	▼ 3.8%
Financial debts170/4	-	€1.0m	€1.1m	€1.0m	€984,883	▼ 3.8%
Amounts payable within one year42/48	€223,744	€226,425	€202,620	€177,192	€240,512	▲ 35.7%
Current portion of amounts payable after more than one year42	-	€64,888	€61,827	€62,496	€69,054	▲ 10.5%
Trade debts44	€99,717	€81,863	€43,076	€48,146	€38,132	▼ 20.8%
Suppliers440/4	-	€81,863	€43,076	€48,146	€38,132	▼ 20.8%
Taxes, remuneration and social security45	-	€70,492	€88,536	€57,369	€74,145	▲ 29.2%
Taxes450/3	-	-	€15,727	€5,003	€15,441	▲ 209%
Remuneration and social security454/9	-	€70,492	€72,809	€52,366	€58,703	▲ 12.1%
Other amounts payable47/48	-	€9,181	€9,181	€9,181	€59,181	▲ 545%
Accrued charges and deferred income492/3	-	€197,685	€18,108	€79,424	€13,880	▼ 82.5%

Line	2021	2022	2023	2024	2025	Change
Profit (loss) for the period9904	€61,668	€187,707	€118,242	-€162,999	€54,860	▲ 134%
+ Depreciation and write-downs630	€19,388	€63,789	€81,598	€87,049	€89,169	▲ 2.4%
Operating cash flow (approximation)	€81,056	€251,496	€199,840	-€75,950	€144,030	▲ 290%
Investment in fixed assets (approximation)	-	-€795,916	-€19,157	-€34,876	-€37,188	▼ 6.6%
Change in cash	-	€37,249	€36,200	€66,356	€73,356	▲ 10.5%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Timeline · acts, filings and financial milestones

All 15Financial 4Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 30-04-2027

2026

22-07

State Gazette act Reappointments: Hedwig Corteville, David Corteville and 2 others

7 facts ▸

Board meeting, 23-06-2026
Director reappointment, Hedwig Corteville (day-to-day manager)
General meeting, 23-06-2026
Director reappointment, David Corteville (director)
Director reappointment, Brecht Corteville (director)
Director reappointment, Rina Horré (director)
Director reappointment, Hedwig Corteville (director)

09-02

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

2025

30-09

Financial Back to profitnet €54,860

Net result €54,860 after one loss-making year.

03-04

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

30-09

Financial Weakest financial yearnet -€162,999

Net result drops to -€162,999, the lowest in the series; recovery starts the following year.

19-03

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2023

17-04

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2022

30-09

Financial Highest result since 2018net €187,707 ▲204%

Operating result €203,435, net result €187,707, both a record.

24-03

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

2021

24-03

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2020

16-04

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2019

30-09

Financial Equity above €500,000Eq €516,611 ▲5.6%

2 profitable years in a row build equity to €516,611.

Show earlier events

01-04

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2018

21-03

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2017

06-04

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

1 of 6 acts read

About the unread acts

Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors

under verification, last change in 2023

This board is reconstructed from a single act (26094095). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.

Board 4

Brecht Corteville

Director · since 18-03-2023

Current

David Corteville

Director · since 18-03-2023

Current

Hedwig Corteville

Director · since 18-03-2023

Current

Rina Horré

Director · since 18-03-2023

Current

Day-to-day management 1

Hedwig Corteville

Day-to-day manager · since 18-03-2023

Current

Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ. See the function holders in the CBE →

Not every act has been read: a resignation may be missing here

5 of this company's 6 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.

Location & real-estate footprint

Registered office, Roeselare · 1 establishment unit since 1997

seat establishment The establishment unit on the map

Ground area

3,353 m²

Building footprint

1,597 m²

Parcel 36505B1023/00G000, Flanders · tallest building 0.1 m. Linked by address, not a title deed.

1 establishment unit

CORVAN

Krommebeekpark 25, 8800 RoeselareAir transport

since 19972.082.991.757

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
36505B1023/00G000	Flanders	3,353 m²	1 · 1,597 m²	0.1 m

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.

Mandate history

4 people since 2023, 4 in office

All 4 In office 4

Board
Day-to-day management
began earlier

Mandates per person, with start and end dates
Name	Functions and periods
Brecht Corteville	Director, already before 18-03-2023 to date
David Corteville	Director, already before 18-03-2023 to date
Hedwig Corteville	Director, already before 18-03-2023 to date Day-to-day manager, already before 18-03-2023 to date
Rina Horré	Director, already before 18-03-2023 to date

See the board, name and seat on a given date →

Articles of association

Other statement

One provision in the deed

according to the deed of 22-07-2026

Structure & network

Connections & network

4 current directors

Depth

The network starts from this company’s directors. Other companies they run appear here as nodes.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, scroll to zoom.

Public money · subsidies and aid

Flemish government

2023 to 2025 · 3 entries · 2,219 EUR awarded · 1,437 EUR paid

Year	Entries	awarded	paid
2025	1	1,607 EUR	825 EUR
2024	1	378 EUR	378 EUR
2023	1	234 EUR	234 EUR

Schemes

Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)

3 entries · 2,219 EUR · 1,437 EUR paid · Fonds voor Innoveren en Ondernemen

Similar companies · same sector, comparable size

HOBRAND

BE 0544.658.859

Schoten · Eq €751,265

RINI

BE 0444.940.582

Dentergem · Eq €751,826

NEW PAPER - SHOP

BE 0460.050.808

Charleroi · Eq €759,490

BELINK INTERNATIONAL

BE 0466.125.580

Tervuren · Eq €764,606

CARDA

BE 0777.637.617

Niel · Eq €730,332

Of 1,567 companies in sector 46900 we hold annual accounts for 920. 648 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification

Legal formPublic limited company

Founded11-07-1997

Fiscal year end30-09

Activities, NACEBEL 2025

28220Manufacture of machinery and equipment not elsewhere classified

46900Non-specialised wholesale trade

32990Other manufacturing not elsewhere classified

70200Business and other management consultancy

E-invoicing

Reachable via Peppol

Peppol ID 0208:0461126221

Registered 05-12-2025

Scores and ratios are computed by Checked and are not a credit decision.