CVIAS
ActiveSummary
CVIAS has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €327,068 and a net result of €15,477. Equity is growing by ~10.7% per year across the filed fiscal years. Its solvency ranks better than 50% of 32629 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
What they do
Business and other management consultancy
NACE 70200Business consulting NACE 70220NACE 74142
1 site
How big
€583,958total assets 2025
- Equity
- €327,068
- Profit
- €15,477
Turnover not published (abridged schema)
Who decides
Accounts 60 d early0 of 5 deeds read
Why 78+ Lower-failure-rate sector+ Long track record+ Annual accounts: healthy financial profileLatest accounts filed on timeShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability72▼-3
Solvency81▼-8
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity short (current ratio 0.97 against 2.63 in 2024; short-term debt: 13.9% and cash: 5.9% of total assets), and 44% 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
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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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
56%
Return on assets
2.7%
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 01-06-2026, 60 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
60 d early
2024
59 d early
2023
47 d early
2022
46 d early
2021
34 d early
2020
38 d early
2019
35 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 46 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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 15 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · micro…
- Annual accounts filedfiscal year 2024 · micro…
- Annual accounts filedfiscal year 2023 · micro…
Financials
Fiscal year 2025Total assets €583,958Profit €15,477Solvency 56.0%Liquidity 0.97
Total assets
€583,958▲ 20.3%
2018 - 2025
Net result
€15,477▼ 33.1%
2018 - 2025
Equity
€327,068▲ 5.0%
2018 - 2025
Solvency
56.0%▼ 8.2pp
2018 - 2025
Financials · fiscal year 2025, micro schema
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. 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 fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€65,365▼ 1.3%€22,566▼ 65.5%€52,646▲ 133%€36,368▼ 30.9%€25,829▼ 29.0%
Net result€40,418within the sector's middle half▼ 3.9%€10,638within the sector's middle half▼ 73.7%€33,605within the sector's middle half▲ 216%€23,123within the sector's middle half▼ 31.2%€15,477within the sector's middle half▼ 33.1%
Equity€244,226within the sector's middle half▲ 19.8%€254,864above the sector's middle half▲ 4.4%€288,468above the sector's middle half▲ 13.2%€311,591above the sector's middle half▲ 8.0%€327,068above the sector's middle half▲ 5.0%
Total assets€471,512within the sector's middle half▲ 5.2%€469,734within the sector's middle half▼ 0.4%€488,142within the sector's middle half▲ 3.9%€485,385above the sector's middle half▼ 0.6%€583,958above the sector's middle half▲ 20.3%
Debt€227,287▼ 6.9%€214,870▼ 5.5%€199,673▼ 7.1%€173,793▼ 13.0%€256,890▲ 47.8%
Working capital€67,031within the sector's middle half▲ 25.0%€62,934within the sector's middle half▼ 6.1%€92,010within the sector's middle half▲ 46.2%€116,609within the sector's middle half▲ 26.7%-€2,344below the sector's middle half
Solvency51.8%within the sector's middle half▲ 6.3pp54.3%within the sector's middle half▲ 2.5pp59.1%within the sector's middle half▲ 4.8pp64.2%within the sector's middle half▲ 5.1pp56.0%within the sector's middle half▼ 8.2pp
Current ratio2.46within the sector's middle half▲ 0.092.06within the sector's middle half▼ 0.412.30within the sector's middle half▲ 0.242.63within the sector's middle half▲ 0.330.97below the sector's middle half▼ 1.66
Return on assets (ROA)8.6%within the sector's middle half▼ 0.8pp2.3%within the sector's middle half▼ 6.3pp6.9%within the sector's middle half▲ 4.6pp4.8%within the sector's middle half▼ 2.1pp2.7%within the sector's middle half▼ 2.1pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 29% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €583,958
Fixed assets
€505,152 ▲ 70.0%
Current assets
€78,807 ▼ 58.2%
Equity and liabilities €583,958
Equity
€327,068 ▲ 5.0%
Debt
€256,890 ▲ 47.8%
Debt's share of the balance-sheet total rises from 35.8% to 44.0%. Equity and debt are higher.
Key figures and ratios
Key figures and ratios
EBITDA
€59,165▼
2024 · €69,962
Cash flow
€48,813▼
2024 · €56,717
Debt to equity
0.79▲
2024 · 0.56
ROE
4.7%▼
2024 · 7.4%
Interest coverage
23.17▼
2024 · 27.81
Debt ≤ 1 year
€81,151▲
2024 · €71,703
Debt > 1 year
€175,739▲
2024 · €102,091
Income taxes
€7,798▼
2024 · €10,730
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,732 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
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 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 14,732 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.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,522 | €32,435 | €34,487 | €33,595 | €33,336 | ▼ 0.8% |
| Other operating charges640/8 | €1,437 | €2,382 | €2,632 | €3,473 | €36,271 | ▲ 944% |
| Gross operating margin9900 | €96,324 | €57,383 | €89,765 | €73,435 | €95,436 | ▲ 30.0% |
| Operating profit (loss)9901 | €65,365 | €22,566 | €52,646 | €36,368 | €25,829 | ▼ 29.0% |
| Financial income75/76B | €17 | €1 | €0 | €1 | €0 | ▼ 75.0% |
| Recurring financial income75 | €17 | €1 | €0 | €1 | €0 | ▼ 75.0% |
| Financial charges65/66B | €6,820 | €3,556 | €2,613 | €2,516 | €2,554 | ▲ 1.5% |
| Recurring financial charges65 | €6,820 | €3,556 | €2,613 | €2,516 | €2,554 | ▲ 1.5% |
| Profit (loss) for the period before taxes9903 | €58,562 | €19,011 | €50,033 | €33,853 | €23,275 | ▼ 31.2% |
| Income taxes67/77 | €18,144 | €8,373 | €16,429 | €10,730 | €7,798 | ▼ 27.3% |
| Profit (loss) for the period9904 | €40,418 | €10,638 | €33,605 | €23,123 | €15,477 | ▼ 33.1% |
| Profit (loss) for the period to be appropriated9905 | €40,418 | €10,638 | €33,605 | €23,123 | €15,477 | ▼ 33.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €471,512 | €469,734 | €488,142 | €485,385 | €583,958 | ▲ 20.3% |
| Fixed assets21/28 | €358,718 | €347,328 | €325,381 | €297,074 | €505,152 | ▲ 70.0% |
| Tangible fixed assets22/27 | €358,718 | €347,328 | €325,381 | €297,074 | €505,152 | ▲ 70.0% |
| Land and buildings22 | €342,305 | €328,649 | €308,493 | €282,518 | €494,686 | ▲ 75.1% |
| Plant, machinery and equipment23 | - | €1,143 | €1,369 | €2,489 | €1,676 | ▼ 32.7% |
| Furniture and vehicles24 | €9,820 | €8,710 | €8,038 | €5,932 | €4,002 | ▼ 32.5% |
| Other tangible fixed assets26 | €6,593 | €8,827 | €7,481 | €6,134 | €4,788 | ▼ 21.9% |
| Current assets29/58 | €112,794 | €122,406 | €162,761 | €188,311 | €78,807 | ▼ 58.2% |
| Amounts receivable within one year40/41 | €17,196 | €20,060 | €35,555 | €39,726 | €32,066 | ▼ 19.3% |
| Trade receivables40 | €16,822 | €18,041 | €35,539 | €37,811 | €22,879 | ▼ 39.5% |
| Other amounts receivable41 | €374 | €2,019 | €17 | €1,914 | €9,187 | ▲ 380% |
| Cash at bank and in hand54/58 | €95,343 | €102,072 | €108,792 | €133,055 | €34,495 | ▼ 74.1% |
| Deferred charges and accrued income490/1 | €256 | €274 | €18,413 | €15,530 | €12,245 | ▼ 21.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €471,512 | €469,734 | €488,142 | €485,385 | €583,958 | ▲ 20.3% |
| Equity10/15 | €244,226 | €254,864 | €288,468 | €311,591 | €327,068 | ▲ 5.0% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €231,826 | €242,464 | €276,068 | €299,191 | €314,668 | ▲ 5.2% |
| Non-distributable reserves130/1 | €1,860 | - | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | - | - | - | - | - |
| Distributable reserves133 | €229,966 | €242,464 | €276,068 | €299,191 | €314,668 | ▲ 5.2% |
| Amounts payable17/49 | €227,287 | €214,870 | €199,673 | €173,793 | €256,890 | ▲ 47.8% |
| Amounts payable after more than one year17 | €181,523 | €155,398 | €128,922 | €102,091 | €175,739 | ▲ 72.1% |
| Financial debts170/4 | €178,573 | €152,448 | €125,972 | €99,141 | €172,789 | ▲ 74.3% |
| Other amounts payable178/9 | €2,950 | €2,950 | €2,950 | €2,950 | €2,950 | = |
| Amounts payable within one year42/48 | €45,764 | €59,472 | €70,751 | €71,703 | €81,151 | ▲ 13.2% |
| Current portion of amounts payable after more than one year42 | €27,462 | €27,809 | €28,155 | €28,533 | €37,694 | ▲ 32.1% |
| Trade debts44 | €2,325 | €3,513 | €1,648 | €2,876 | €356 | ▼ 87.6% |
| Suppliers440/4 | €2,325 | €3,513 | €1,648 | €2,876 | €356 | ▼ 87.6% |
| Taxes, remuneration and social security45 | €2,700 | €1,497 | €7,517 | €6,651 | €4,502 | ▼ 32.3% |
| Taxes450/3 | €2,700 | €1,497 | €7,288 | €6,651 | €4,502 | ▼ 32.3% |
| Remuneration and social security454/9 | - | - | €229 | €0 | - | - |
| Other amounts payable47/48 | €13,277 | €26,653 | €33,431 | €33,643 | €38,599 | ▲ 14.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €40,418 | €10,638 | €33,605 | €23,123 | €15,477 | ▼ 33.1% |
| + Depreciation and write-downs630 | €29,522 | €32,435 | €34,487 | €33,595 | €33,336 | ▼ 0.8% |
| Operating cash flow (approximation) | €69,939 | €43,073 | €68,091 | €56,717 | €48,813 | ▼ 13.9% |
| Investment in fixed assets (approximation) | - | -€21,045 | -€12,540 | -€5,287 | -€241,414 | ▼ 4,466% |
| Change in cash | - | €6,729 | €6,720 | €24,263 | -€98,560 | ▼ 506% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Comparable companies
Similar companies · same sector, comparable size
Godoo
BE 0837.737.233
Menen · Eq €327,063
IMMOPAL
BE 0480.174.348
Péruwelz · Eq €327,031
MAARTENSBERG
BE 0895.966.828
Lubbeek · Eq €327,121
RED
BE 0883.937.145
Gent · Eq €327,012
THINK INNOVATION
BE 0536.169.973
Brussel · Eq €327,132
Of 82,601 companies in this sector we hold annual accounts for 52,629. 37,657 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Timeline
13 eventsLatest 01-06-2026Next filing 31-07-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
01-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
02-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
14-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
15-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €10,638 ▼73.7%
Net result drops to €10,638, the lowest in the series; recovery starts the following year.
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
23-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €42,053 ▲277%
Operating result €66,218, net result €42,053, both a record.
31-12
Financial
Equity above €200,000Eq €203,808 ▲26%
3 profitable years in a row build equity to €203,808.
26-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
23-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 23 days late
2017
15-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Company details
Private limited company · founded 30-09-2004Year ends 31-12Peppol reachable1 site
Register details
Identification
Legal formPrivate limited company
Founded30-09-2004
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
63100Computing infrastructure, data processing, hosting and related activities
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0867683608
Also
9925:BE0867683608
Registered
30-01-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Leuven · 1 establishment unit since 2004
Ground area
78 m²
Building footprint
38 m²
Volume, LiDAR
444 m³
Parcel 24505F0795/00D000, Flanders · tallest building 14.6 m, ±4 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
CVIAS BVBA
since 2004unit no. 2.142.199.864
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24505F0795/00D000 | Flanders | 78 m² | 1 · 38 m² | 14.6 m · 4 fl. |
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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Go further with this company
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