FINOVAL
ActiveSummary
FINOVAL has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-56k) and a net result of €-1k. Equity is shrinking by ~6.1% per year across the filed fiscal years. Its solvency ranks better than 5% of 3200 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability75▼-5
Solvency0=
Growth42▼-5
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 4.24 against 1.95 in 2024; short-term debt: 19% and cash: 22.7% of total assets), but equity is negative.
Credit check for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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 →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-130.4%
Return on assets
-3.2%
Age of the figures
15 mo
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
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €-56k
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 12-12-2025, 50 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
50 d early
2024
37 d early
2023
41 d early
2022
64 d early
2021
41 d early
2020
65 d early
2019
74 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€50k▼ 10.6%
2024 · €56k
2019: €30k
2020: €26k▼ -14.3% vs 2019
2021: €22k▼ -17.2% vs 2020lowest in 7 years
2022: €34k▲ +57.6% vs 2021
2023: €45k▲ +32.6% vs 2022
2024: €56k▲ +23.6% vs 2023highest in 7 years
2025: €50k▼ -10.6% vs 2024
2019 → 2025
EBIT margin
4.2%▼ 1.3pp
2024 · 5.5%
2019: 14.3%highest in 7 years
2020: -31.7%▼ -322% vs 2019
2021: -43.6%▼ -37.6% vs 2020lowest in 7 years
2022: -26.2%▲ +40.0% vs 2021
2023: 8.3%▲ +132% vs 2022
2024: 5.5%▼ -33.9% vs 2023
2025: 4.2%▼ -22.7% vs 2024
2019 → 2025
Net result
€-1k
2024 · €618
2019: €2k
2020: €2k▲ +2.4% vs 2019
2021: €-11k▼ -760% vs 2020
2022: €-11k▼ -2.1% vs 2021lowest in 7 years
2023: €3k▲ +126% vs 2022highest in 7 years
2024: €618▼ -77.7% vs 2023
2025: €-1k▼ -317% vs 2024
2019 → 2025
Working capital
€26k▲ 159%
2024 · €10k
2019: €42khighest in 7 years
2020: €3k▼ -92.6% vs 2019
2021: €3k▼ -13.3% vs 2020
2022: €-19k▼ -783% vs 2021lowest in 7 years
2023: €-1k▲ +92.0% vs 2022
2024: €10k▲ +780% vs 2023
2025: €26k▲ +159% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€22k-€34k▲ 57.6%€45k▲ 32.6%€56k▲ 23.6%€50k▼ 10.6%
2021: €22klowest in 5 years
2022: €34k▲ +57.6% vs 2021
2023: €45k▲ +32.6% vs 2022
2024: €56k▲ +23.6% vs 2023highest in 5 years
2025: €50k▼ -10.6% vs 2024
Equity€-47k-€-58k▼ 23.1%€-55k▲ 4.8%€-54k▲ 1.1%€-56k▼ 2.5%
2021: €-47khighest in 5 years
2022: €-58k▼ -23.1% vs 2021lowest in 5 years
2023: €-55k▲ +4.8% vs 2022
2024: €-54k▲ +1.1% vs 2023
2025: €-56k▼ -2.5% vs 2024
Operating result€-9k-€-9k▲ 5.5%€4k€3k▼ 18.3%€2k▼ 30.9%
2021: €-9klowest in 5 years
2022: €-9k▲ +5.5% vs 2021
2023: €4k▲ +142% vs 2022highest in 5 years
2024: €3k▼ -18.3% vs 2023
2025: €2k▼ -30.9% vs 2024
Net result€-11k-€-11k▼ 2.1%€3k€618▼ 77.7%€-1k
2021: €-11k
2022: €-11k▼ -2.1% vs 2021lowest in 5 years
2023: €3k▲ +126% vs 2022highest in 5 years
2024: €618▼ -77.7% vs 2023
2025: €-1k▼ -317% vs 2024
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 31% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €43k
Fixed assets
€8k ▼ 68.0%
Current assets
€34k ▲ 65.0%
Key figures and ratios
EBITDA
€10k▼
2024 · €20k
Cash flow
€6k▼
2024 · €18k
Solvency
-130.4%▼
2024 · -116.5%
Current ratio
4.24▲
2024 · 1.95
Debt to equity
-1.77▲
2024 · -1.86
ROA
-3.2%▼
2024 · 1.3%
Interest coverage
23.82▼
2024 · 52.45
Debt
€98k▼
2024 · €101k
Debt ≤ 1 year
€8k▼
2024 · €11k
Debt > 1 year
€90k=
2024 · €90k
Income taxes
€3k▲
2024 · €2k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€47k€43k▼
Fixed assets21/28€26k€8k▼
Tangible fixed assets22/27€25k€7k▼
Plant, machinery and equipment23€1k€803▼
Furniture and vehicles24€24k€7k▼
Financial fixed assets28€744€744=
Current assets29/58€21k€34k▲
Amounts receivable within one year40/41€14k€25k▲
Trade receivables40€10k€18k▲
Other amounts receivable41€4k€7k▲
Cash at bank and in hand54/58€7k€10k▲
Equity and liabilities
Total equity and liabilities10/49€47k€43k▼
Equity10/15€-54k€-56k▼
Contributions10/11€222k€222k=
Capital10€222k€222k=
Issued capital100€222k€222k=
Profit (loss) carried forward14€-277k€-278k▼
Amounts payable17/49€101k€98k▼
Amounts payable after more than one year17€90k€90k=
Trade debts175€90k€90k=
Amounts payable within one year42/48€11k€8k▼
Trade debts44€212€753▲
Suppliers440/4€212€753▲
Taxes, remuneration and social security45€1k€2k▲
Taxes450/3€1k€2k▲
Other amounts payable47/48€9k€6k▼
Accrued charges and deferred income492/3€2€2=
Income statement
Code20242025
Turnover70€56k€50k▼
Non-recurring operating income76A-€13k
Goods, raw materials, services and sundry goods60/61€41k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€17k€7k▼
Other operating charges640/8€200€51▼
Non-recurring operating charges66A-€19k
Gross operating margin9900€20k€28k▲
Operating profit (loss)9901€3k€2k▼
Financial charges65/66B€385€402▲
Recurring financial charges65€385€402▲
Profit (loss) for the period before taxes9903€3k€2k▼
Income taxes67/77€2k€3k▲
Profit (loss) for the period9904€618€-1k▼
Profit (loss) for the period to be appropriated9905€618€-1k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-277k€-278k▼
Profit (loss) brought forward from the previous period14P€-277k€-277k▲
The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €22k | €34k | €45k | €56k | €50k | ▼ 10.6% |
| Non-recurring operating income76A | - | - | - | - | €13k | - |
| Goods, raw materials, services and sundry goods60/61 | - | €35k | €25k | €41k | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13k | €15k | €16k | €17k | €7k | ▼ 56.5% |
| Other operating charges640/8 | - | €206 | €120 | €200 | €51 | ▼ 74.5% |
| Non-recurring operating charges66A | - | €0 | - | - | €19k | - |
| Gross operating margin9900 | €5k | €6k | €20k | €20k | €28k | ▲ 38.4% |
| Operating profit (loss)9901 | €-9k | €-9k | €4k | €3k | €2k | ▼ 30.9% |
| Financial income75/76B | - | €7 | - | - | - | - |
| Recurring financial income75 | - | €7 | - | - | - | - |
| Financial charges65/66B | - | €248 | €307 | €385 | €402 | ▲ 4.4% |
| Recurring financial charges65 | €93 | €248 | €307 | €385 | €402 | ▲ 4.4% |
| Profit (loss) for the period before taxes9903 | €-10k | €-9k | €3k | €3k | €2k | ▼ 36.0% |
| Income taxes67/77 | €1k | €2k | €683 | €2k | €3k | ▲ 48.1% |
| Profit (loss) for the period9904 | €-11k | €-11k | €3k | €618 | €-1k | ▼ 317% |
| Profit (loss) for the period to be appropriated9905 | €-11k | €-11k | €3k | €618 | €-1k | ▼ 317% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €49k | €70k | €56k | €47k | €43k | ▼ 8.5% |
| Fixed assets21/28 | €41k | €51k | €37k | €26k | €8k | ▼ 68.0% |
| Tangible fixed assets22/27 | €40k | €50k | €36k | €25k | €7k | ▼ 70.1% |
| Plant, machinery and equipment23 | - | €1k | €1k | €1k | €803 | ▼ 22.3% |
| Furniture and vehicles24 | - | €49k | €35k | €24k | €7k | ▼ 72.1% |
| Financial fixed assets28 | €744 | €744 | €744 | €744 | €744 | = |
| Current assets29/58 | €9k | €19k | €19k | €21k | €34k | ▲ 65.0% |
| Amounts receivable within one year40/41 | €9k | €5k | €9k | €14k | €25k | ▲ 73.9% |
| Trade receivables40 | - | €3k | €6k | €10k | €18k | ▲ 75.5% |
| Other amounts receivable41 | - | €1k | €3k | €4k | €7k | ▲ 70.3% |
| Cash at bank and in hand54/58 | €9 | €14k | €10k | €7k | €10k | ▲ 45.7% |
| Deferred charges and accrued income490/1 | - | €99 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €49k | €70k | €56k | €47k | €43k | ▼ 8.5% |
| Equity10/15 | €-47k | €-58k | €-55k | €-54k | €-56k | ▼ 2.5% |
| Contributions10/11 | €222k | €222k | €222k | €222k | €222k | = |
| Capital10 | - | €222k | €222k | €222k | €222k | = |
| Issued capital100 | - | €222k | €222k | €222k | €222k | = |
| Profit (loss) carried forward14 | €-269k | €-280k | €-277k | €-277k | €-278k | ▼ 0.5% |
| Amounts payable17/49 | €96k | €127k | €111k | €101k | €98k | ▼ 2.6% |
| Amounts payable after more than one year17 | €90k | €90k | €90k | €90k | €90k | = |
| Trade debts175 | - | €90k | €90k | €90k | €90k | = |
| Amounts payable within one year42/48 | €6k | €37k | €21k | €11k | €8k | ▼ 24.2% |
| Trade debts44 | €376 | €545 | €423 | €212 | €753 | ▲ 255% |
| Suppliers440/4 | - | €545 | €423 | €212 | €753 | ▲ 255% |
| Advances received on contracts in progress46 | - | €0 | €3k | - | - | - |
| Taxes, remuneration and social security45 | - | €3k | €434 | €1k | €2k | ▲ 39.8% |
| Taxes450/3 | - | €3k | €434 | €1k | €2k | ▲ 39.8% |
| Other amounts payable47/48 | - | €33k | €17k | €9k | €6k | ▼ 39.6% |
| Accrued charges and deferred income492/3 | - | €1 | €1 | €2 | €2 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-11k | €-11k | €3k | €618 | €-1k | ▼ 317% |
| + Depreciation and write-downs630 | €13k | €15k | €16k | €17k | €7k | ▼ 56.5% |
| Operating cash flow (approximation) | €3k | €4k | €19k | €18k | €6k | ▼ 65.6% |
| Investment in fixed assets (approximation) | - | €-25k | €-2k | €-6k | €10k | ▲ 264% |
| Change in cash | - | €14k | €-4k | €-4k | €3k | ▲ 185% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
12-12
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
30-06
Financial
Liquidity doublescurrent ratio 4.24
Current ratio from 1.95 to 4.24; short-term debt falls from €11k to €8k.
2024
25-12
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
30-06
Financial
Liquidity doublescurrent ratio 1.95
Current ratio from 0.93 to 1.95; short-term debt falls from €21k to €11k.
2023
21-12
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
30-06
Financial
Back to profitnet €3k
Net result €3k after 2 loss-making years.
2022
28-11
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
30-06
Financial
Weakest financial yearnet €-11k
Net result drops to €-11k, the lowest in the series; recovery starts the following year.
2021
21-12
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2020
27-11
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2019
18-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
15-11
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
30-11
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
16-12
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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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Directors · office · real estate
Directors
7 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Lasne · 1 establishment unit since 1989
Ground area
915 m²
Building footprint
102 m²
Parcel 25051F0434/00V000, Wallonia. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Rue Charlier 7, 1380 Lasne
since 19892.043.945.297
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25051F0434/00V000 | Wallonia | 915 m² | 1 · 102 m² | - |
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.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded26-05-1989
Fiscal year end30-06
Activities, NACEBEL 2025
70200Business and other management consultancy
64210Activities of holding companies
Contact
E-mail
caroline@finoval.com
Scores and ratios are computed by Checked and are not a credit decision.