Equity
Equity fell by 98% in 14 years.
Equity fell by 98% in 14 years.
The accounts state no turnover.
The 2020 accounts came 3 days late. The other nine of the last ten were filed on time.
Lower solvency than 92% of companies in financial services. Sector median 61.1% · 3,042 companies.
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 43 days before the deadline. In the sector (NACE 64), the median for financial year 2024 was 14 days before the deadline, and 28% of those companies filed late.
Shares in 1 company, A. VAN INGELGEM ET FILS
Board & ownership| Company | ||||
|---|---|---|---|---|
| ERVICO Woluwe-Saint-Lambert | €1.8m | €1.8m | 4.3% | - |
| IDE COFFEE SYSTEMS Asse | €1.7m | €1.7m | 42.0% | 12.3 |
| AKKANTO Watermael-Boitsfort | €3.1m | €1.6m | 48.1% | 16.3 |
| PROGENTIS Brussels | €2.5m | €1.4m | 89.2% | 3.8 |
| W.D. PARTNERS Oud-Heverlee | €1.7m | €1.2m | 89.8% | - |
| BAKKERIJ GIJBELS Schoten | €2.8m | €1.5m | 16.8% | 25 |
| BIMEVEC Schilde | €2.7m | €1.6m | 76.3% | 0 |
These companies have the same main activity as ERVICO: activities of holding companies (NACE 64210). They are comparable in size and age: total assets between €1.7m and €3.1m, founded between 1997 and 2007.
ERVICO has existed since 2002. The gross margin fell from €552,257 in 2012 to €64,333 in 2013.
The gross margin has grown every year since 2021.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
The turnover shown is an estimate from the gross margin.
Higher than 7% of 3,042 companies in 2025.
Higher than 95% of 3,034 companies in 2025.
Net result: top quarter · Equity: bottom quarter · Balance sheet total: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||||
20/58 |
1.8m | 1.8m | 1.7m | 1.8m | 1.9m | 2.5m | 2.6m | 2.4m | 2.6m | 5.1m | 5.1m | 4.9m | 4.9m | 5.4m | 5.9m | 5.5m | 3.9m | 3.1m | 2.9m | |
21/28 |
1.7m | 1.7m | 1.7m | 1.7m | 1.7m | 2.3m | 2.3m | 2.3m | 2.3m | 2.3m | 3.2m | 3.1m | 3.1m | 2.8m | 2.6m | 2.8m | 2.8m | 2.0m | 2.0m | |
21 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 4,080 | 99,846 | 117,726 | 147,307 | 144,000 | - | |
22/27 |
- | - | - | - | - | - | - | 250 | 1,719 | 4,049 | 19,011 | 31,643 | 44,939 | 57,075 | 552 | - | 11,648 | 23,296 | 36,360 | |
24 |
- | - | - | - | - | - | - | 250 | 1,719 | 4,049 | 19,011 | 31,643 | 44,939 | 57,075 | 552 | - | 11,648 | 23,296 | 36,360 | |
28 |
1.7m | 1.7m | 1.7m | 1.7m | 1.7m | 2.3m | 2.3m | 2.3m | 2.3m | 2.3m | 3.2m | 3.1m | 3.1m | 2.7m | 2.5m | 2.7m | 2.6m | 1.8m | 1.9m | |
29/58 |
167,677 | 83,501 | 14,036 | 102,053 | 240,434 | 236,883 | 319,845 | 91,588 | 284,277 | 2.9m | 1.9m | 1.7m | 1.8m | 2.6m | 3.2m | 2.7m | 1.1m | 1.1m | 892,181 | |
29 |
- | - | - | - | - | - | - | - | - | - | - | - | 10,000 | - | 40,000 | 80,000 | 66,000 | 40,000 | - | |
290 |
- | - | - | - | - | - | - | - | - | - | - | - | 10,000 | - | 40,000 | 80,000 | 66,000 | 40,000 | - | |
40/41 |
- | - | - | - | - | - | - | - | - | 16,121 | 7,500 | 67,357 | 57,650 | 10,783 | 23,168 | 10,198 | - | 2,043 | - | |
40 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 10,783 | 5,308 | 3,698 | - | 2,043 | - | |
41 |
- | - | - | - | - | - | - | - | - | 16,121 | 7,500 | 67,357 | 57,650 | - | 17,860 | 6,500 | - | - | - | |
50/53 |
- | - | - | - | - | - | - | - | - | - | 1.2m | 1.2m | 1.2m | 1.1m | 1.7m | 1.2m | 223,246 | 1.0m | 692,599 | |
54/58 |
166,893 | 82,885 | 13,439 | 101,471 | 239,964 | 236,883 | 319,845 | 91,588 | 283,998 | 2.9m | 654,646 | 410,539 | 493,112 | 1.5m | 1.4m | 1.4m | 852,145 | 71,008 | 199,485 | |
490/1 |
783 | 615 | 596 | 582 | 470 | - | - | - | 279 | 267 | 12,387 | 17,370 | 14,840 | 14,914 | 8,925 | 3,099 | 2,136 | 1,161 | 97 | |
| Balance sheet: equity and liabilities | ||||||||||||||||||||
10/49 |
1.8m | 1.8m | 1.7m | 1.8m | 1.9m | 2.5m | 2.6m | 2.4m | 2.6m | 5.1m | 5.1m | 4.9m | 4.9m | 5.4m | 5.9m | 5.5m | 3.9m | 3.1m | 2.9m | |
10/15 |
78,406 | 77,684 | 322,965 | 716,639 | 699,247 | 694,508 | 692,725 | 687,003 | 683,396 | 2.7m | 3.8m | 3.5m | 3.6m | 3.4m | 3.9m | 3.5m | 2.9m | 2.0m | 1.7m | |
10/11 |
62,000 | 62,000 | 62,000 | 462,000 | 462,000 | 462,000 | 462,000 | 462,000 | 462,000 | 2.5m | 2.5m | 2.5m | 224,000 | 224,000 | 224,000 | 224,000 | 224,000 | 224,000 | 224,000 | |
10 |
62,000 | 62,000 | 62,000 | 462,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
100 |
62,000 | 62,000 | 62,000 | 462,000 | 462,000 | 462,000 | 462,000 | 462,000 | 462,000 | 2.5m | 2.5m | 2.5m | 224,000 | 224,000 | 224,000 | 224,000 | 224,000 | 224,000 | 224,000 | |
13 |
6,200 | 6,200 | 46,200 | 46,200 | 46,200 | 46,200 | 46,200 | 199,737 | 199,737 | 199,737 | 869,973 | 852,793 | 1.6m | 1.6m | 2.3m | 2.1m | 1.8m | 1.6m | 1.4m | |
130/1 |
6,200 | 6,200 | 46,200 | 46,200 | 46,200 | 46,200 | - | - | - | - | - | - | - | - | 858,432 | 858,432 | - | - | - | |
130 |
6,200 | 6,200 | 46,200 | 46,200 | 46,200 | 46,200 | 46,200 | 199,737 | 199,737 | 199,737 | 133,978 | 116,798 | 22,400 | 22,400 | 22,400 | 22,400 | 22,400 | 22,400 | 22,400 | |
1312 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 858,432 | 858,432 | - | - | - | |
132 |
- | - | - | - | - | - | - | - | - | - | - | 417,000 | 567,000 | 697,500 | 705,000 | 765,000 | 510,000 | 450,000 | 450,000 | |
133 |
- | - | - | - | - | - | - | - | - | - | 735,995 | 318,995 | 1.0m | 856,568 | 684,068 | 451,568 | 1.3m | 1.1m | 950,000 | |
14 |
10,206 | 9,484 | 214,765 | 208,439 | 191,047 | 186,308 | 184,525 | 25,266 | 21,659 | 4,060 | 488,649 | 162,468 | 1.8m | 1.6m | 1.4m | 1.2m | 830,480 | 253,313 | 5,193 | |
17/49 |
1.8m | 1.7m | 1.4m | 1.1m | 1.2m | 1.8m | 1.9m | 1.7m | 1.9m | 2.5m | 1.3m | 1.4m | 1.3m | 2.0m | 1.9m | 2.0m | 1.0m | 1.1m | 1.2m | |
17 |
- | - | - | - | 708,000 | 708,000 | 1.0m | 1.0m | - | - | - | - | - | - | 500,000 | 500,000 | 500,000 | 500,000 | 685,000 | |
170/4 |
- | - | - | - | 708,000 | 708,000 | 1.0m | 1.0m | - | - | - | - | - | - | - | - | - | - | 145,000 | |
178/9 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 500,000 | 500,000 | 500,000 | 500,000 | 540,000 | |
42/48 |
1.8m | 1.7m | 1.4m | 1.1m | 504,611 | 1.1m | 886,708 | 631,924 | 1.9m | 2.5m | 1.2m | 1.3m | 1.2m | 1.8m | 1.3m | 1.3m | 490,718 | 498,152 | 539,401 | |
42 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 160,867 | 40,000 | |
43 |
- | - | - | - | - | - | - | - | - | - | 500,001 | 500,000 | 500,000 | - | - | - | - | - | - | |
430/8 |
- | - | - | - | - | - | - | - | - | - | 500,001 | 500,000 | 500,000 | - | - | - | - | - | - | |
44 |
357 | - | 124 | - | 1,146 | 1,074 | - | - | 1,127 | 5,873 | 64 | 666 | - | - | - | 461 | 6,155 | - | - | |
440/4 |
357 | - | 124 | - | 1,146 | 1,074 | - | - | 1,127 | 5,873 | 64 | 666 | - | - | - | 461 | 6,155 | - | - | |
45 |
270 | 3,174 | 2,303 | 6,771 | 13,398 | 823 | 2,641 | 1,857 | 994 | - | 15,224 | - | 24,000 | 24,162 | 10,704 | 7,076 | 49,554 | 49,735 | 12,496 | |
450/3 |
270 | 3,174 | 2,303 | 6,771 | 13,398 | 823 | 2,641 | 1,857 | 994 | - | 15,224 | - | 24,000 | 24,162 | 10,704 | 7,076 | 49,554 | 49,735 | 12,496 | |
47/48 |
1.8m | 1.7m | 1.4m | 1.1m | 490,067 | 1.1m | 884,067 | 630,067 | 1.9m | 2.5m | 726,821 | 837,105 | 719,202 | 1.8m | 1.3m | 1.3m | 435,010 | 287,551 | 486,906 | |
492/3 |
- | - | - | - | - | - | - | 32,500 | - | 2,305 | 57,438 | 53,088 | 56,711 | 182,430 | 119,623 | 137,047 | 54,763 | 57,596 | 535 | |
| Income statement | ||||||||||||||||||||
76A |
- | - | - | - | - | - | - | - | - | - | 1,600 | - | - | 119 | - | - | - | - | - | |
9900 |
1.8m | 1.4m | 1.1m | 1.1m | 815,191 | 1.1m | 893,497 | 637,053 | 537,328 | 442,697 | 170,230 | 87,035 | 64,333 | 552,257 | 522,808 | 955,002 | 860,155 | 667,022 | 704,451 | |
630 |
- | - | - | - | - | 0 | 0 | 1,469 | 2,330 | 17,098 | 17,142 | 15,826 | 15,596 | 25,942 | 40,116 | 49,448 | 57,848 | 49,748 | 14,009 | |
640/8 |
968 | 960 | 868 | - | 868 | 868 | 1,118 | - | 846 | 8,255 | 5,590 | 5,571 | 2,442 | 7,382 | 2,240 | 1,911 | 1,809 | 1,799 | 2,270 | |
66A |
- | - | - | - | - | - | - | - | - | - | - | - | 43,487 | 68,482 | 21,760 | 75,829 | 24,255 | - | 60,000 | |
9901 |
1.8m | 1.4m | 1.1m | 1.1m | 814,323 | 1.1m | 892,378 | 635,585 | 534,152 | 417,344 | 147,498 | 65,638 | 46,295 | 518,933 | 480,453 | 903,643 | 800,497 | 615,475 | 688,173 | |
75/76B |
- | - | - | - | - | - | - | - | 3,676 | 940,822 | 321,957 | 236,763 | 242,043 | 153,750 | 271,877 | 88,124 | 372,930 | 22,757 | 15,993 | |
75 |
- | - | - | - | - | - | - | - | 3,676 | 940,822 | 321,957 | 236,763 | 242,043 | 153,750 | 271,877 | 88,124 | 372,930 | 22,757 | 15,993 | |
65/66B |
29 | 24 | 24 | 23 | 236,186 | 161 | 15 | 121 | 1,234 | 42,764 | 64,836 | 178,531 | 62,918 | 69,984 | 183,666 | 79,167 | 185,720 | 88,710 | 64,179 | |
65 |
29 | 24 | 24 | 23 | 236,186 | 161 | 15 | 121 | 1,234 | 42,764 | 64,836 | 178,531 | 62,918 | 69,984 | 183,666 | 79,167 | 185,720 | 88,710 | 64,179 | |
9903 |
1.8m | 1.4m | 1.1m | 1.1m | 578,138 | 1.1m | 892,363 | 635,463 | 536,593 | 1.3m | 406,219 | 123,870 | 181,934 | 534,336 | 546,904 | 836,770 | 963,453 | 549,522 | 579,987 | |
67/77 |
270 | 3,174 | 2,303 | 7,978 | 83,398 | 823 | 2,641 | 1,857 | 994 | 227 | 62,857 | 899 | 10,539 | 184,915 | 97,323 | 197,658 | 161,285 | 151,402 | 162,989 | |
9904 |
1.8m | 1.4m | 1.1m | 1.1m | 494,739 | 1.1m | 889,722 | 633,606 | 535,599 | 1.3m | 343,361 | 122,971 | 171,394 | 349,421 | 449,581 | 639,111 | 802,168 | 398,120 | 416,997 | |
689 |
- | - | - | - | - | - | - | - | - | - | - | - | 37,500 | 165,000 | 172,500 | 300,000 | 225,000 | 150,000 | 152,100 | |
9905 |
1.8m | 1.4m | 1.1m | 1.1m | 494,739 | 1.1m | 889,722 | 633,606 | 535,599 | 1.3m | 343,361 | 122,971 | 133,894 | 184,421 | 277,081 | 339,111 | 577,168 | 248,120 | 264,897 | |
| Appropriation of the result | ||||||||||||||||||||
9906 |
1.8m | 1.6m | 1.3m | 1.3m | 681,047 | 1.3m | 914,988 | 655,266 | 539,659 | 1.8m | 505,829 | 1.9m | 1.8m | 1.6m | 1.4m | 1.2m | 830,480 | 253,313 | 265,193 | |
14P |
9,484 | 214,765 | 208,439 | 191,047 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
791/2 |
- | 40,000 | - | - | - | 0 | 153,537 | - | - | 735,995 | - | 1.2m | - | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | - | 65,759 | 17,180 | 413,393 | - | - | - | - | - | - | 260,000 | |
6920 |
- | - | - | - | - | - | - | - | - | 65,759 | 17,180 | 94,398 | - | - | - | - | - | - | - | |
6921 |
- | - | - | - | - | - | - | - | - | - | - | 318,995 | - | - | - | - | - | - | 260,000 | |
694/7 |
1.8m | 1.7m | 1.1m | 1.1m | 490,000 | 1.1m | 884,000 | 630,000 | 518,000 | 2.5m | - | 2.5m | - | - | - | - | - | - | - | |
694 |
- | 254,000 | - | - | - | - | - | - | - | 2.0m | - | 2.5m | - | - | - | - | - | - | - | |
695 |
1.8m | 1.4m | 1.1m | 1.1m | 490,000 | 1.1m | 884,000 | 630,000 | 518,000 | 460,000 | - | - | - | - | - | - | - | - | - | |
| Document | ||||||||||||||||||||
The accounts for 3 older financial years (2004-2006) were filed as documents without figures as data, scans for example.
The notes to these accounts have 1 item. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 20-03-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | full format | 20-03-2026 | 2026-00058108 | |
| 30-09-2024 | full format | 28-03-2025 | 2025-00056362 | |
| 30-09-2023 | full format | 12-04-2024 | 2024-00061842 | |
| 30-09-2022 | full format | 24-03-2023 | 2023-00044479 | |
| 30-09-2021 | full format | 18-03-2022 | 2022-07900103 | |
| 30-09-2020 | full format | 03-05-2021 | 2021-12900495 | |
| 30-09-2019 | full format | 20-12-2019 | 2019-76700185 | |
| 30-09-2018 | full format | 26-04-2019 | 2019-10600530 | |
| 30-09-2017 | full format | 27-04-2018 | 2018-10800422 | |
| 30-09-2016 | full format | 13-01-2017 | 2017-01000346 | |
| 30-09-2015 | full format | 31-03-2016 | 2016-08000131 | |
| 30-09-2014 | full format | 26-03-2015 | 2015-07000285 | |
| 30-09-2013 | full format | 25-04-2014 | 2014-09600142 | |
| 30-09-2012 | full format | 15-03-2013 | 2013-06300458 | |
| 30-09-2011 | full format | 22-03-2012 | 2012-06600050 | |
| 30-09-2010 | full format | 23-03-2011 | 2011-06600015 | |
| 30-09-2009 | full format | 23-03-2010 | 2010-07100063 | |
| 30-09-2008 | full format | 23-03-2009 | 2009-07900088 | |
| 30-09-2007 | full format | 08-04-2008 | 2008-10100385 | |
| 30-09-2006 | full format | 23-03-2007 | 2007-08703871 | |
| 30-09-2005 | full format | 18-04-2006 | 2006-11203424 | |
| 30-09-2004 | full format | 06-04-2005 | 2005-10801626 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| - | - | - | - | - | 0 | -250 | 0 | 0 | 95,629 | 123,973 | 115,192 | 378,505 | 267,539 | 135,830 | 177,872 | 898,417 | 180,684 | 200,000 | ||
| 84,008 | 69,446 | -88,032 | -138,493 | 3,081 | -82,962 | 228,257 | -192,410 | -2.6m | 2.2m | 244,107 | -82,574 | -1.0m | 95,140 | 75,374 | 516,864 | 781,137 | -128,477 | - | ||
| 4.3% | 4.4% | 19.2% | 40.4% | 36.6% | 27.7% | 26.8% | 29.1% | 26.8% | 51.8% | 74.6% | 71.4% | 73.5% | 63.5% | 67.2% | 63.9% | 73.2% | 66.0% | 57.4% | ||
| - | - | 342.6% | 148.9% | 70.8% | 158.6% | 128.4% | 92.2% | 78.4% | 49.3% | 9.0% | 3.5% | 4.8% | 10.2% | 11.4% | 18.3% | 28.1% | 19.4% | 25.2% | ||
| 95.7% | 81.4% | 65.6% | 60.2% | 25.9% | 44.0% | 34.4% | 26.9% | 21.0% | 25.6% | 6.7% | 2.5% | 3.5% | 6.5% | 7.7% | 11.7% | 20.6% | 12.8% | 14.5% |
A ratio outside any meaningful range has been withheld (balance sheet total €1.8m, equity €78,406).
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
The operating result for 2025 is 23% higher than in 2024 and the highest since 2007. It is the fourth rise in a row, after the fall in 2021.
Debt's share of the balance-sheet total rises from 95.6% to 95.7%. Equity and debt are higher.
Source: lists of holdings in the owners' accounts
Source: list of holdings in its own 30-09-2025 accounts. Every holding stands with its own latest accounts.
| PV CYCLE BELGIUM
registered office since 29-06-2016 · founded in 2016 |
total assets €33.6m (2025) 0657.802.629 |
| DRECOT
establishment since 16-12-1993 · founded in 1993 |
total assets €15.4m (2025) 0450.856.394 |
| PV CYCLE
registered office since 01-04-2008 · founded in 2007 |
5.6 FTE (2025) 0893.027.827 |
| A. VAN INGELGEM ET FILS
registered office since 12-02-1979 · founded in 1979 |
19 FTE (2025) 0419.138.285 |
| REUEKA
establishment since 31-12-1993 · founded in 1985 |
total assets €3.5m (2025) 0428.262.819 |
| ZADEC
establishment since 07-01-1994 · founded in 1985 |
total assets €3.5m (2025) 0428.262.918 |
| VINTAGES
establishment since 31-12-1993 · founded in 1985 |
total assets €3.5m (2025) 0428.261.235 |
| PLASMA PROTEIN THERAPEUTICS ASSOCIATION EUROPE
registered office since 01-01-2015 · founded in 1994 |
8 FTE (2025) 0453.837.462 |
| ASSOCIATION DES OPERATEURS POSTAUX PUBLICS EUROPEENS
registered office since 29-04-1993 · founded in 1993 · accounts filed late |
12 FTE (2024) 0450.024.174 |
| BDVY HOLDING
registered office since 18-07-2018 · founded in 2018 · accounts filed late |
total assets €3.2m (2021) 0700.217.066 |
| Name | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A. VAN INGELGEM ET FILS | 95% | 95.05% | 95% | ||||||||||||||||
| EURACOR GOUGNARD | 100% | ||||||||||||||||||
| ICOMS DETECTIONS | 14% | ||||||||||||||||||
| LOKABOX | 12% | 14% | |||||||||||||||||
| Banqup Files | listed | ||||||||||||||||||
| BioSenic | listed | ||||||||||||||||||
| WINDEO GREEN ENERGY | listed | ||||||||||||||||||
| VAN INGELGEM PARTNERS | 75% | ||||||||||||||||||
| AG. BERLAIMONT | 25.3% | 25% | |||||||||||||||||
Source: list of holdings in its own accounts
The network starts from the directors of ERVICO. Every other company they run is a node.
Deadline for the 2026 accounts: 30-04-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Brand Whitlocklaan 114 registered office 1200 Woluwe-Saint-Lambert | 28-01-2003 | 2.114.242.187 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21673D0145/00G006 | 891 m² | 1 · 543 m² | 29.4 m · 8 |
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