Checked.be
Active
BE 0841.832.910Private limited company
CVESP
Gerard Van Gervenstraat(BEV) 9 ·9120 Beveren-Kruibeke-Zwijndrecht, Belgium· 14 yrs active
Sector: Day nurseries and crèches
(88911)
Conclusion
CVESP has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €95k and a net result of €17k. Equity is growing by ~46.5% per year across the filed fiscal years. Its solvency ranks better than 13% of 383 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Based on the State Gazette, CBE and 6 annual accounts.
Key figures
| Equity | €95k |
| Net result | €17k |
| Staff (FTE) | 29.3 |
| Better than sector | 13% |
Financial profile
63
/ 100
Strong profile, led by stability.
All 5 axes are computed from data Checked has read.
Health
30
Profitability
92
Solvency
14
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2011, 14 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
30
/ 100
Weak
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€3k
estimate, not credit advice
Score history
57
2020
58
2021
94
2022
86
2023
94
2024
30
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.86 (< 1.0)
-10
Leverage
Debt/equity 9.55 (> 3.0)
-10
Profitability
ROE 18% (≥ 10%)
+10
Interest coverage
Interest coverage 1.5× (< 1.5×)
-10
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 30-07-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~46.5%/year over 6 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 88, Social work activities without accommodation · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 9.5% | 57.1% | |
| Net result | €17k | €41k | |
| Equity | €95k | €1.07M | |
| Gross operating margin | €1.14M | €1.11M | |
| Staff costs | €976k | €1.81M |
€400k
-
20-25
€159k
+119.9%
20-25
€17k
-62.6%
20-25
€49k
-4.0%
20-25
€997k
+380.2%
20-25
€95k
+22.7%
20-25
€-39k
-
20-25
29
+48.7%
20-25
€976k
+26.9%
20-25
€4k
-80.9%
20-25
€20k
+2301.0%
20-25
€903k
+591.1%
20-25
€273k
+196.9%
20-25
€629k
+1534.2%
20-25
0.86
-55.0%
20-25
0.86
-55.0%
20-25
9.5%
-74.4%
20-25
9.55
+463.3%
20-25
18.5%
-69.5%
20-25
1.8%
-92.2%
20-25
-7.3%
-
20-25
0.4%
-
20-25
1.47
-96.3%
20-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | abbreviated schema | micro schema | micro schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - | - |
| EBITDA | €159k | €72k | €23k | €26k | €5k |
| Net profit | €17k | €47k | €14k | €24k | €-3k |
| Cash flow | €49k | €51k | €19k | €29k | €2k |
| Staff costs | €976k | €769k | €445k | €248k | €243k |
| Income taxes | €4k | €22k | €6k | €-4k | €3k |
| Dividends | - | €20k | €833 | - | - |
| Total assets | €997k | €208k | €151k | €109k | €70k |
| Equity | €95k | €77k | €50k | €37k | €13k |
| Debt | €903k | €131k | €101k | €71k | €57k |
| of which ≤ 1y | €273k | €92k | €67k | €36k | €21k |
| of which > 1y | €629k | €39k | €34k | €35k | €35k |
| Working capital | €-39k | €84k | €70k | €58k | €37k |
| Employees (FTE) | 29.3 | 19.7 | 14.7 | 9.6 | 7.5 |
Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, micro schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 0.86 | 1.91 | 2.05 | 2.59 | 2.71 |
| Quick ratio | 0.86 | 1.91 | 2.05 | 2.59 | 2.71 |
| Working capital ratio | -3.9% | 40.2% | 46.4% | 53.2% | 52.4% |
| Solvency | 9.5% | 37.1% | 33.4% | 34.5% | 18.8% |
| Debt / equity | 9.55 | 1.69 | 2.00 | 1.90 | 4.31 |
| Long-term debt ratio | 6.65 | 0.50 | 0.68 | 0.93 | 2.68 |
| Interest coverage | 1.47 | 39.46 | 24.78 | 36.88 | 5.92 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 1.8% | 22.5% | 9.1% | 22.3% | -4.0% |
| ROE | 18.5% | 60.6% | 27.2% | 64.7% | -21.2% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (25 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €997k | €208k | €151k | €109k | €70k |
| Fixed assets | 21/28 | €762k | €32k | €14k | €14k | €12k |
| Tangible fixed assets | 22/27 | €759k | €29k | €11k | €12k | €9k |
| Financial fixed assets | 28 | €3k | €3k | €3k | €3k | €3k |
| Current assets | 29/58 | €235k | €176k | €137k | €94k | €58k |
| Amounts receivable within one year | 40/41 | €174k | €90k | €92k | €68k | €50k |
| Investments | 50/53 | €49k | €71k | €30k | - | - |
| Cash & bank | 54/58 | €11k | €16k | €14k | €26k | €9k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €997k | €208k | €151k | €109k | €70k |
| Equity | 10/15 | €95k | €77k | €50k | €37k | €13k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k | €19k |
| Reserves | 13 | €76k | €58k | €32k | €27k | €27k |
| Accumulated profits (losses) | 14 | - | - | - | €-8k | €-32k |
| Amounts payable | 17/49 | €903k | €131k | €101k | €71k | €57k |
| Amounts payable after one year | 17 | €629k | €39k | €34k | €35k | €35k |
| Amounts payable within one year | 42/48 | €273k | €92k | €67k | €36k | €21k |
| Trade debts payable within one year | 44 | €101k | €40k | €34k | €16k | €9k |
| Income statement | ||||||
| Gross operating margin | 9900 | €1.14M | €844k | €470k | €275k | €250k |
| Operating result | 9901 | €127k | €68k | €18k | €21k | €436 |
| Financial income | 75 | €3k | €3k | €3k | €345 | €123 |
| Financial charges | 65 | €108k | €2k | €932 | €694 | €861 |
| Result before taxes | 9903 | €22k | €69k | €20k | €20k | €-302 |
| Income taxes | 67/77 | €4k | €22k | €6k | €-4k | €3k |
| Net result for the period | 9904 | €17k | €47k | €14k | €24k | €-3k |
| Result to be appropriated | 9905 | €17k | €47k | €14k | €24k | €-3k |
Legal Structure
| NACE primary | Day nurseries and crèches(88911) |
| Legal form | Private limited company(610) |
| Incorporation | 15-12-2011 |
| Status | Active |
| Postal code | 9120 |
Establishment units
't Vlindertje Beveren
since 20122.205.040.424
't Vlindertje Nieuwkerken
since 20122.205.040.622
't Vlindertje Sint-Niklaas
since 20192.295.711.767
Real-estate footprint
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46446B0141/00T000 | Flanders | 627 m² | 1 · 112 m² | 10.7 m · 1 fl. |
| 46502D0395/00D004 | Flanders | 345 m² | 1 · 146 m² | 12.8 m · 3 fl. |
| 46017A0324/00B000 | Flanders | 328 m² | 1 · 203 m² | 10.7 m · 1 fl. |
Methodology
via registered seat: 1 · via establishment units: 2
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
26-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2020net €47k ▲241%
Net result €47k, the highest in the series.
15-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 76 days late
2023
23-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €24k
Net result €24k after 2 loss-making years.
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 61 days late
2020
16-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Day nurseries and crèches88911
Names & trade names
| Legal nameNL | CVESP |
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