FROVAS
ActiveFrom the official registers: KBO 30 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
FROVAS has been active since 1995 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €707,682 and a net result of -€79,411. Equity has been growing by about 2.8% per year since 2018. The computed 12-month bankruptcy probability is 0.1% (very low).
Financials · financial year 2025, micro format
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 07-07-2026
- Format
- micro format
- Reference
- 2026-00261076
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is a loss of €60,667, smaller than the loss of €76,397 in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
Use the arrow keys on the chart for the figures per year.
Companies with the same profile, two years later
Historical observationIn July 2024, 8,617 companies had the same profile as FROVAS has now. Two years later, 0.4% had gone bankrupt and 94.2% were still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of FROVAS itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,445 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 8,617 companies, not a prediction for FROVAS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €53,274 | €48,274 | €43,440 | €37,710 | €44,660 | €72,658 | €65,055 | €65,768 | ▲ 1.1% |
| Other operating charges640/8 | - | - | - | €2,946 | €10,934 | €7,421 | €14,185 | €6,784 | ▼ 52.2% |
| Non-recurring operating charges66A | - | - | - | - | - | €248 | €0 | - | - |
| Gross operating margin9900 | €207,582 | €141,596 | €155,404 | €74,073 | €114,854 | €153,343 | €2,843 | €11,885 | ▲ 318% |
| Operating profit (loss)9901 | €150,075 | €89,131 | €105,827 | €33,417 | €59,259 | €73,016 | -€76,397 | -€60,667 | ▲ 20.6% |
| Financial income75/76B | - | - | - | - | €88 | €1,818 | €7,974 | €1,465 | ▼ 81.6% |
| Recurring financial income75 | €5,070 | - | - | - | €88 | €1,818 | €7,974 | €1,465 | ▼ 81.6% |
| Financial charges65/66B | - | - | - | €13,102 | €11,694 | €10,750 | €21,046 | €19,089 | ▼ 9.3% |
| Recurring financial charges65 | €16,004 | €11,595 | €12,543 | €13,102 | €11,694 | €10,750 | €21,046 | €19,089 | ▼ 9.3% |
| Profit (loss) for the period before taxes9903 | €139,142 | €77,536 | €93,284 | €20,315 | €47,653 | €64,085 | -€89,469 | -€78,290 | ▲ 12.5% |
| Income taxes67/77 | €40,183 | €24,710 | €26,997 | €5,265 | €14,564 | €19,067 | €410 | €1,120 | ▲ 173% |
| Profit (loss) for the period9904 | €98,958 | €52,826 | €66,287 | €15,051 | €33,090 | €45,018 | -€89,879 | -€79,411 | ▲ 11.6% |
| Profit (loss) for the period to be appropriated9905 | €98,958 | €52,826 | €66,287 | €15,051 | €33,090 | €45,018 | -€89,879 | -€79,411 | ▲ 11.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.0m | €1.0m | €1.1m | €1.1m | €1.1m | €1.2m | €1.1m | €1.0m | ▼ 8.2% |
| Fixed assets21/28 | €0.8m | €0.8m | €0.7m | €0.9m | €1.0m | €0.9m | €0.9m | €0.8m | ▼ 7.8% |
| Intangible fixed assets21 | €248 | €248 | €248 | €248 | €248 | - | - | - | - |
| Tangible fixed assets22/27 | €0.8m | €0.8m | €0.7m | €0.9m | €1.0m | €0.9m | €0.9m | €0.8m | ▼ 7.7% |
| Land and buildings22 | - | - | - | €0.9m | €0.8m | €0.8m | €0.8m | €0.7m | ▼ 5.0% |
| Plant, machinery and equipment23 | - | - | - | - | €0.001m | €0.008m | €0.007m | €0.005m | ▼ 30.7% |
| Furniture and vehicles24 | - | - | - | €0.01m | €0.1m | €0.1m | €0.07m | €0.05m | ▼ 35.0% |
| Financial fixed assets28 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0 | ▼ 100% |
| Current assets29/58 | €0.2m | €0.3m | €0.4m | €0.2m | €0.2m | €0.3m | €0.3m | €0.2m | ▼ 9.6% |
| Amounts receivable within one year40/41 | €0.1m | €0.07m | €0.1m | €0.03m | €0.03m | €0.03m | €0.002m | €0.002m | ▼ 3.3% |
| Trade receivables40 | - | - | - | - | €0.01m | €0.02m | €0.001m | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €0.03m | €0.02m | €0.006m | €442 | €0.002m | ▲ 254% |
| Cash at bank and in hand54/58 | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | €0.2m | €0.2m | ▼ 9.8% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0.003m | €0.006m | €0.001m | €0.001m | ▲ 56.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.0m | €1.0m | €1.1m | €1.1m | €1.1m | €1.2m | €1.1m | €1.0m | ▼ 8.2% |
| Equity10/15 | €0.7m | €0.7m | €0.8m | €0.8m | €0.8m | €0.9m | €0.8m | €0.7m | ▼ 10.0% |
| Contributions10/11 | €0.01m | €0.01m | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Reserves13 | €0.7m | €0.7m | €0.8m | €0.8m | €0.8m | €0.9m | €0.9m | €0.7m | ▼ 19.5% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | €0 | - | - |
| Tax-exempt reserves132 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Distributable reserves133 | - | - | - | €0.8m | €0.8m | €0.9m | €0.9m | €0.7m | ▼ 19.6% |
| Profit (loss) carried forward14 | - | - | - | - | - | - | -€0.09m | - | - |
| Amounts payable17/49 | €0.4m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 3.8% |
| Amounts payable after more than one year17 | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Other amounts payable178/9 | - | - | - | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Amounts payable within one year42/48 | €0.4m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 3.8% |
| Trade debts44 | €0.01m | €0.01m | €0.01m | €0.005m | €0.001m | €0.002m | €0 | €0.005m | - |
| Suppliers440/4 | - | - | - | €0.005m | €0.001m | €0.002m | €0 | €0.005m | - |
| Taxes, remuneration and social security45 | - | - | - | €0.006m | €0.02m | €0.05m | €0.03m | €0.006m | ▼ 77.6% |
| Taxes450/3 | - | - | - | €0.006m | €0.02m | €0.05m | €0.03m | €0.006m | ▼ 77.6% |
| Other amounts payable47/48 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 0.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €98,958 | €52,826 | €66,287 | €15,051 | €33,090 | €45,018 | -€89,879 | -€79,411 | ▲ 11.6% |
| + Depreciation and write-downs630 | €53,274 | €48,274 | €43,440 | €37,710 | €44,660 | €72,658 | €65,055 | €65,768 | ▲ 1.1% |
| Operating cash flow (approximation) | €152,232 | €101,100 | €109,727 | €52,760 | €77,750 | €117,676 | -€24,825 | -€13,642 | ▲ 45.0% |
| Investment in fixed assets (approximation) | - | -€4,404 | -€3,650 | -€223,716 | -€108,125 | -€12,033 | -€15,621 | €678 | - |
| Change in cash | - | €74,267 | €41,910 | -€88,770 | -€769 | €100,694 | -€3,498 | -€24,541 | ▼ 601% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 30 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 07-07-2026 | 2026-00261076 | NBB |
| 31-12-2024 | micro format | 31-07-2025 | 2025-00346899 | |
| 31-12-2023 | micro format | 26-06-2024 | 2024-00173029 | |
| 31-12-2022 | micro format | 21-08-2023 | 2023-00338003 | |
| 31-12-2021 | micro format | 25-08-2022 | 2022-20315281 | |
| 31-12-2020 | micro format | 23-10-2021 | 2021-73000582 | |
| 31-12-2019 | abbreviated format | 11-09-2020 | 2020-52500201 | |
| 31-12-2018 | micro format | 29-08-2019 | 2019-54700070 | |
| 31-12-2017 | abbreviated format | 26-06-2018 | 2018-24800398 | |
| 31-12-2016 | abbreviated format | 29-06-2017 | 2017-25800494 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.