Summary
FIVANCO is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €56.6m and a net result of €140,165. Equity remains stable across the filed fiscal years (±0.2% per year). Its solvency ranks better than 48% of 2409 sector peers (fiscal year 2025). The company has been active since 1970 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 09-07-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 d early
2024
17 d early
2023
27 d early
2022
12 d early
2021
12 d early
2020
32 d early
2019
24 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 21 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#5 oldest company in Kortrijk, Finance and insurance sector
Equity
€56.6m▲ 0.2%
2024 · €56.4m
Net result
€140,165
2024 · -€1.2m
Total assets
€95.9m▲ 9.8%
2024 · €87.3m
Solvency
59.0%▼ 5.6pp
2024 · 64.6%
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€164,827▼ 1.5%€171,535▲ 4.1%€187,250▲ 9.2%€125,704▼ 32.9%€120,500▼ 4.1%
Operating result-€458,683▲ 5.4%-€518,590▼ 13.1%-€797,753▼ 53.8%-€496,772▲ 37.7%-€1.1m▼ 123%
Net result€532,172▼ 93.6%-€31,572-€19,060▲ 39.6%-€1.2m▼ 6,370%€140,165
Equity€57.7m▲ 0.3%€57.7m▼ 0.1%€57.7m=€56.4m▼ 2.1%€56.6m▲ 0.2%
Total assets€78.9m▲ 4.8%€80.8m▲ 2.4%€87.7m▲ 8.5%€87.3m▼ 0.4%€95.9m▲ 9.8%
Debt€21.1m▲ 19.7%€23.1m▲ 9.2%€30.0m▲ 29.8%€30.9m▲ 3.0%€39.3m▲ 27.2%
Working capital€2.4m▼ 42.7%€1.1m▼ 54.8%€7.0m▲ 554%€6.2m▼ 11.1%€989,992▼ 84.0%
Solvency73.2%▼ 3.3pp71.4%▼ 1.8pp65.8%▼ 5.6pp64.6%▼ 1.2pp59.0%▼ 5.6pp
Staff (FTE)3.5▼ 2.8%3.5=2.8▼ 20.0%2.8=2.8=
Why a figure moved sharply
- 2024 Net result -6,370% on 2023. Cause not known from the registers.
- 2021 Net result -94% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1.1m in 2025 against €496,772 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €95.9m
Fixed assets
€70.5m ▲ 16.0%
Current assets
€25.3m ▼ 4.4%
Equity and liabilities €95.9m
Equity
€56.6m ▲ 0.2%
Debt
€39.3m ▲ 27.2%
Debt's share of the balance-sheet total rises from 35.4% to 41.0%. Equity and debt are higher.
Key figures and ratios
ROE
0.2%▲
2024 · -2.2%
ROA
0.1%▲
2024 · -1.4%
Debt ≤ 1 year
€24.4m▲
2024 · €20.3m
Debt > 1 year
€13.4m▲
2024 · €9.6m
Income taxes
-€242
Staff costs
€447,717▲
2024 · €409,618
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €207,615 | €221,674 | €219,638 | €600,517 | €235,104 | ▼ 60.8% |
| Turnover70 | €164,827 | €171,535 | €187,250 | €125,704 | €120,500 | ▼ 4.1% |
| Other operating income74 | €40,005 | €41,138 | €32,388 | €474,213 | €114,604 | ▼ 75.8% |
| Non-recurring operating income76A | €2,783 | €9,000 | €0 | €600 | - | - |
| Operating charges60/66A | €666,298 | €740,264 | €1.0m | €1.1m | €1.3m | ▲ 22.3% |
| Services and other goods61 | €240,860 | €298,577 | €509,761 | €570,861 | €748,860 | ▲ 31.2% |
| Remuneration, social security and pensions62 | €384,726 | €401,169 | €414,658 | €409,618 | €447,717 | ▲ 9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,806 | €6,087 | €7,025 | €19,004 | €11,422 | ▼ 39.9% |
| Other operating charges640/8 | €33,906 | €34,431 | €85,946 | €97,806 | €132,974 | ▲ 36.0% |
| Non-recurring operating charges66A | - | - | - | - | €754 | - |
| Operating profit (loss)9901 | -€458,683 | -€518,590 | -€797,753 | -€496,772 | -€1.1m | ▼ 123% |
| Financial income75/76B | €10.0m | €2.9m | €3.6m | €2.6m | €3.5m | ▲ 34.4% |
| Recurring financial income75 | €2.0m | €1.9m | €2.8m | €2.3m | €2.8m | ▲ 21.3% |
| Income from financial fixed assets750 | €1.1m | €1.2m | €1.4m | €1.3m | €1.1m | ▼ 15.9% |
| Income from current assets751 | €66,240 | €369,440 | €1.0m | €565,249 | €628,690 | ▲ 11.2% |
| Other financial income752/9 | €837,366 | €268,445 | €350,297 | €432,992 | €1.1m | ▲ 150% |
| Non-recurring financial income76B | €8.0m | €1.1m | €797,783 | €241,328 | €631,305 | ▲ 162% |
| Financial charges65/66B | €9.0m | €2.5m | €2.8m | €3.3m | €2.2m | ▼ 32.9% |
| Recurring financial charges65 | €133,333 | €1.3m | €1.1m | €2.0m | €1.7m | ▼ 13.7% |
| Debt charges650 | €229,653 | €385,615 | €853,287 | €1.2m | €1.1m | ▼ 6.4% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | -€963,679 | €209,218 | -€178,378 | €279,979 | €92,951 | ▼ 66.8% |
| Other financial charges652/9 | €867,359 | €695,597 | €416,473 | €504,288 | €498,386 | ▼ 1.2% |
| Non-recurring financial charges66B | €8.9m | €1.2m | €1.7m | €1.4m | €541,573 | ▼ 60.4% |
| Profit (loss) for the period before taxes9903 | €525,498 | -€30,788 | -€17,601 | -€1.2m | €139,924 | ▲ 111% |
| Income taxes67/77 | -€6,674 | €784 | €1,459 | - | -€242 | - |
| Taxes670/3 | €73,941 | €784 | €1,459 | - | €931 | - |
| Tax adjustments and reversals of tax provisions77 | €80,615 | - | - | - | €1,172 | - |
| Profit (loss) for the period9904 | €532,172 | -€31,572 | -€19,060 | -€1.2m | €140,165 | ▲ 111% |
| Profit (loss) for the period to be appropriated9905 | €532,172 | -€31,572 | -€19,060 | -€1.2m | €140,165 | ▲ 111% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €78.9m | €80.8m | €87.7m | €87.3m | €95.9m | ▲ 9.8% |
| Fixed assets21/28 | €55.6m | €57.0m | €61.1m | €60.8m | €70.5m | ▲ 16.0% |
| Tangible fixed assets22/27 | €279,592 | €275,927 | €281,550 | €279,213 | €307,950 | ▲ 10.3% |
| Land and buildings22 | €254,039 | €253,539 | €253,038 | €252,773 | €252,773 | = |
| Plant, machinery and equipment23 | €889 | €776 | €662 | €549 | €435 | ▼ 20.7% |
| Furniture and vehicles24 | €24,664 | €21,613 | €27,850 | €25,892 | €54,742 | ▲ 111% |
| Financial fixed assets28 | €55.3m | €56.7m | €60.8m | €60.6m | €70.2m | ▲ 16.0% |
| Affiliated companies280/1 | €31.7m | €32.1m | €39.7m | €40.3m | €48.5m | ▲ 20.5% |
| Participating interests280 | €14.0m | €12.6m | €19.1m | €19.4m | €20.4m | ▲ 5.1% |
| Amounts receivable281 | €17.7m | €19.5m | €20.7m | €20.8m | €28.1m | ▲ 34.9% |
| Companies linked by participating interests282/3 | €10.1m | €9.6m | €5.9m | €7.0m | €8.2m | ▲ 17.0% |
| Participating interests282 | €6.9m | €7.1m | €4.8m | €5.2m | €6.0m | ▲ 15.3% |
| Amounts receivable283 | €3.2m | €2.6m | €1.0m | €1.8m | €2.2m | ▲ 21.9% |
| Other financial fixed assets284/8 | €13.5m | €15.0m | €15.2m | €13.3m | €13.5m | ▲ 1.8% |
| Shares284 | €11.5m | €11.7m | €11.7m | €10.0m | €9.8m | ▼ 2.4% |
| Amounts receivable and cash guarantees285/8 | €2.0m | €3.3m | €3.5m | €3.3m | €3.8m | ▲ 14.4% |
| Current assets29/58 | €23.3m | €23.8m | €26.6m | €26.5m | €25.3m | ▼ 4.4% |
| Amounts receivable within one year40/41 | €11.8m | €2.8m | €3.7m | €2.9m | €951,775 | ▼ 67.2% |
| Trade receivables40 | €31,755 | €2,178 | €0 | €1,297 | €3,935 | ▲ 203% |
| Other amounts receivable41 | €11.8m | €2.8m | €3.7m | €2.9m | €947,841 | ▼ 67.3% |
| Current investments50/53 | €9.4m | €14.9m | €19.9m | €20.5m | €19.9m | ▼ 3.1% |
| Other investments51/53 | €9.4m | €14.9m | €19.9m | €20.5m | €19.9m | ▼ 3.1% |
| Cash at bank and in hand54/58 | €577,851 | €4.5m | €551,583 | €421,079 | €1.1m | ▲ 158% |
| Deferred charges and accrued income490/1 | €1.5m | €1.6m | €2.4m | €2.7m | €3.4m | ▲ 28.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €78.9m | €80.8m | €87.7m | €87.3m | €95.9m | ▲ 9.8% |
| Equity10/15 | €57.7m | €57.7m | €57.7m | €56.4m | €56.6m | ▲ 0.2% |
| Contributions10/11 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Capital10 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Issued capital100 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Reserves13 | €42.6m | €42.6m | €42.6m | €42.6m | €42.6m | = |
| Non-distributable reserves130/1 | €125,000 | €125,000 | €125,000 | €125,000 | €125,000 | = |
| Legal reserve130 | €125,000 | €125,000 | €125,000 | €125,000 | €125,000 | = |
| Tax-exempt reserves132 | €4.1m | €4.1m | €4.1m | €4.1m | €4.1m | = |
| Distributable reserves133 | €38.3m | €38.3m | €38.3m | €38.3m | €38.3m | = |
| Profit (loss) carried forward14 | €13.9m | €13.9m | €13.9m | €12.6m | €12.8m | ▲ 1.1% |
| Amounts payable17/49 | €21.1m | €23.1m | €30.0m | €30.9m | €39.3m | ▲ 27.2% |
| Amounts payable after more than one year17 | - | - | €9.6m | €9.6m | €13.4m | ▲ 40.8% |
| Financial debts170/4 | - | - | €9.6m | €9.6m | €13.4m | ▲ 40.8% |
| Credit institutions173 | - | - | - | - | €552,632 | - |
| Other loans174 | - | - | €9.6m | €9.6m | €12.9m | ▲ 35.0% |
| Amounts payable within one year42/48 | €21.0m | €22.7m | €19.6m | €20.3m | €24.4m | ▲ 19.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €947,368 | - |
| Financial debts43 | €19.7m | €12.1m | €18.1m | €19.2m | €22.3m | ▲ 15.8% |
| Credit institutions430/8 | €17.6m | €10.0m | €16.1m | €17.3m | €22.3m | ▲ 29.1% |
| Other loans439 | €2.1m | €2.1m | €2.0m | €2.0m | - | - |
| Trade debts44 | €97,209 | €101,298 | €136,517 | €106,783 | €206,051 | ▲ 93.0% |
| Suppliers440/4 | €97,209 | €101,298 | €136,517 | €106,783 | €206,051 | ▲ 93.0% |
| Taxes, remuneration and social security45 | €69,320 | €90,236 | €77,713 | €76,697 | €83,487 | ▲ 8.9% |
| Taxes450/3 | €28,637 | €36,710 | €30,261 | €31,695 | €32,497 | ▲ 2.5% |
| Remuneration and social security454/9 | €40,683 | €53,526 | €47,453 | €45,002 | €50,991 | ▲ 13.3% |
| Other amounts payable47/48 | €1.1m | €10.4m | €1.3m | €924,518 | €852,224 | ▼ 7.8% |
| Accrued charges and deferred income492/3 | €188,575 | €382,074 | €804,992 | €1.0m | €1.5m | ▲ 46.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €532,172 | -€31,572 | -€19,060 | -€1.2m | €140,165 | ▲ 111% |
| + Depreciation and write-downs630 | €6,806 | €6,087 | €7,025 | €19,004 | €11,422 | ▼ 39.9% |
| Operating cash flow (approximation) | €538,978 | -€25,485 | -€12,035 | -€1.2m | €151,587 | ▲ 112% |
| Investment in fixed assets (approximation) | - | -€1.5m | -€4.1m | €222,693 | -€9.7m | ▼ 4,463% |
| Change in cash | - | €3.9m | -€3.9m | -€130,504 | €664,869 | ▲ 609% |
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
2026
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €140,165
Net result €140,165 after 3 loss-making years.
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet -€1.2m
Net result drops to -€1.2m, the lowest in the series; recovery starts the following year.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
19-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
19-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €8.3m
Net result €8.3m after one loss-making year.
31-12
Financial
Equity above €50mEq €57.6m ▲15.8%
Equity rises from €49.7m to €57.6m.
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
16-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
01-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 1 day late
2017
24-07
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 19 acts read
About the unread acts
We know of 19 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
19 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, Kortrijk · 1 establishment unit since 1969
Ground area
2,929 m²
Building footprint
156 m²
Parcel 34354D0453/00A000, Flanders. Linked by address, not a title deed.
1 establishment unit
Beneluxpark(Kor) 29, 8500 Kortrijk
since 19692.039.453.605
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34354D0453/00A000 | Flanders | 2,929 m² | 1 · 156 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.
Structure & network
Owners and holdings
1 owner · 29 holdings · 18 subsidiaries in the treeChain of control
- DAVHOLD
- FIVANCO
Highest known parent: DAVHOLD. The sources do not say who stands above it.
Owners 1
- DAVHOLDparentSourceaccounts DAVHOLD 202599.99%
Holdings 29
-
100%
-
100%
-
100%
-
100%
-
100%
-
100%
-
100%
-
100%
-
100%
-
99.97%
Show 19 more holdings
-
74.99%
-
73%
-
69.5%
- Beleggingsmaatschappij Job GoudaNLsubsidiarySourceown accounts 2025Equity USD 36,279Result -USD 44,02257.6%
-
50.5%
-
50%
-
50%
-
50%
-
50%
-
44.37%
-
25%
-
25%
-
22.5%
-
20%
-
18%
-
17.8%
-
13.33%
-
9.45%
-
2%
All subsidiaries, including indirect ones 18
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
- AfidavidRO 100%
- Bovanco 100%
Centrimo 100%3 subsidiaries
- SC Centrimo SRLRO 100%
- Centrimo Construct 98%
- VAN2INVEST 75%
- Centrimo RomaniaRO 100%
- Grand Acres LPUS 100%
- INAFZO 100%
- New PropertiesRO 100%
- SC POM ServiceRO 100%
- Scarlet IbisZA 100%
- CONAFIN 99.97%
- InovanFR 74.99%
- Negustori EuropeLU 73%
- Yellow SkyRO 69.5%
- Beleggingsmaatschappij Job GoudaNL 57.6%
- Narlikuyu ASTR 50.5%
According to the 2025 annual accounts of FIVANCO and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 3 entries · 728 EUR awarded · 728 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 291 EUR | 291 EUR |
| 2023 | 1 | 227 EUR | 227 EUR |
| 2022 | 1 | 210 EUR | 210 EUR |
Recognitions · licences · registrations
Legal Entity Identifier
549300NPQB080QX4V737
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Identification & contact
Identification
Legal formPublic limited company
Founded21-05-1970
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0407099793
Registered
27-03-2026
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.