HELVAN
ActiveSummary
HELVAN has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.0m and a net result of €206,646. Equity is growing by ~47.6% per year across the filed fiscal years. Its solvency ranks better than 74% of 8115 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability86▼-14
Solvency94▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €90,000 at 30 days acceptable
Liquidity ample (current ratio 3.09 against 3.3 in 2024; short-term debt: 27.8% and cash: 41% of total assets), and 31% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
69%
Return on assets
14.1%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 08-07-2026, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
23 d early
2024
3 d early
2023
6 d early
2022
48 d early
2021
60 d early
2020
53 d early
2019
35 d late
← 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 23 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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, abbreviated schema
Equity
€1.0m▲ 25.7%
2024 · €805,631
Total assets
€1.5m▲ 24.4%
2024 · €1.2m
Net result
€206,646▼ 33.8%
2024 · €312,293
Working capital
€853,766▲ 15.6%
2024 · €738,239
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
Operating result€77,704▲ 28,830%€240,393▲ 209%€141,650▼ 41.1%€287,129▲ 103%€269,038▼ 6.3%
Net result€74,004€227,675▲ 208%€109,494▼ 51.9%€312,293▲ 185%€206,646▼ 33.8%
Equity€156,169▲ 90.1%€383,844▲ 146%€493,338▲ 28.5%€805,631▲ 63.3%€1.0m▲ 25.7%
Total assets€316,063▲ 46.8%€687,390▲ 117%€772,337▲ 12.4%€1.2m▲ 52.6%€1.5m▲ 24.4%
Debt€159,894▲ 20.0%€303,546▲ 89.8%€278,999▼ 8.1%€342,719▲ 22.8%€423,816▲ 23.7%
Working capital€82,578▲ 369%€311,284▲ 277%€392,053▲ 25.9%€738,239▲ 88.3%€853,766▲ 15.6%
Staff (FTE)0.21.7▲ 750%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 6% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.5m
Fixed assets
€204,416 ▲ 71.6%
Current assets
€1.3m ▲ 19.1%
Equity and liabilities €1.5m
Equity
€1.0m ▲ 25.7%
Provisions
€30,310 =
Debt
€423,816 ▲ 23.7%
Debt's share of the balance-sheet total falls from 29.1% to 28.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€293,475▼
2024 · €304,263
Cash flow
€231,083▼
2024 · €329,428
Current ratio
3.09▼
2024 · 3.30
Debt to equity
0.42▼
2024 · 0.43
ROE
20.4%▼
2024 · 38.8%
ROA
14.1%▼
2024 · 26.5%
Interest coverage
53.40▲
2024 · 29.79
Debt ≤ 1 year
€408,221▲
2024 · €321,320
Debt > 1 year
€11,524▼
2024 · €21,399
Income taxes
€65,396▼
2024 · €87,775
Staff costs
€90,004▲
2024 · €6,896
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 31,324 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €10,001 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €6,896 | €90,004 | ▲ 1,205% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,258 | €1,031 | €4,770 | €17,135 | €24,437 | ▲ 42.6% |
| Other operating charges640/8 | €4,042 | €3,942 | €4,545 | €4,942 | €9,728 | ▲ 96.8% |
| Non-recurring operating charges66A | - | - | - | - | €55,057 | - |
| Gross operating margin9900 | €83,004 | €245,366 | €150,966 | €316,102 | €448,263 | ▲ 41.8% |
| Operating profit (loss)9901 | €77,704 | €240,393 | €141,650 | €287,129 | €269,038 | ▼ 6.3% |
| Financial income75/76B | €167 | €1,247 | €1,266 | €153,463 | €8,499 | ▼ 94.5% |
| Recurring financial income75 | €167 | €1,247 | €1,266 | €1,915 | €8,499 | ▲ 344% |
| Non-recurring financial income76B | - | - | - | €151,548 | - | - |
| Financial charges65/66B | €3,594 | €3,819 | €3,838 | €10,213 | €5,495 | ▼ 46.2% |
| Recurring financial charges65 | €3,594 | €3,819 | €3,838 | €10,213 | €5,495 | ▼ 46.2% |
| Profit (loss) for the period before taxes9903 | €74,277 | €237,822 | €139,079 | €430,378 | €272,042 | ▼ 36.8% |
| Transfer to deferred taxes680 | - | - | - | €30,310 | - | - |
| Income taxes67/77 | €272 | €10,147 | €29,585 | €87,775 | €65,396 | ▼ 25.5% |
| Profit (loss) for the period9904 | €74,004 | €227,675 | €109,494 | €312,293 | €206,646 | ▼ 33.8% |
| Transfer to tax-exempt reserves689 | - | - | - | €121,238 | - | - |
| Profit (loss) for the period to be appropriated9905 | €74,004 | €227,675 | €109,494 | €191,055 | €206,646 | ▲ 8.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €316,063 | €687,390 | €772,337 | €1.2m | €1.5m | ▲ 24.4% |
| Fixed assets21/28 | €73,591 | €72,560 | €101,285 | €119,101 | €204,416 | ▲ 71.6% |
| Tangible fixed assets22/27 | €73,591 | €72,560 | €101,285 | €110,101 | €195,416 | ▲ 77.5% |
| Land and buildings22 | €73,591 | €72,560 | €71,529 | €46,949 | €45,918 | ▼ 2.2% |
| Plant, machinery and equipment23 | - | - | - | €40,095 | €34,208 | ▼ 14.7% |
| Furniture and vehicles24 | - | - | €29,756 | €23,057 | €115,290 | ▲ 400% |
| Financial fixed assets28 | - | - | - | €9,000 | €9,000 | = |
| Current assets29/58 | €242,472 | €614,830 | €671,052 | €1.1m | €1.3m | ▲ 19.1% |
| Stocks and contracts in progress3 | - | - | - | €12,500 | - | - |
| Stocks30/36 | - | - | - | €12,500 | - | - |
| Amounts receivable within one year40/41 | €224,643 | €614,830 | €553,766 | €507,881 | €636,376 | ▲ 25.3% |
| Trade receivables40 | €217,588 | €588,306 | €507,511 | €459,919 | €600,393 | ▲ 30.5% |
| Other amounts receivable41 | €7,055 | €26,523 | €46,255 | €47,962 | €35,983 | ▼ 25.0% |
| Current investments50/53 | - | - | - | €400,000 | - | - |
| Cash at bank and in hand54/58 | €17,830 | - | €117,285 | €131,449 | €601,475 | ▲ 358% |
| Deferred charges and accrued income490/1 | - | - | - | €7,729 | €24,137 | ▲ 212% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €316,063 | €687,390 | €772,337 | €1.2m | €1.5m | ▲ 24.4% |
| Equity10/15 | €156,169 | €383,844 | €493,338 | €805,631 | €1.0m | ▲ 25.7% |
| Contributions10/11 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | €437,256 | €437,256 | €437,256 | €744,131 | €950,778 | ▲ 27.8% |
| Non-distributable reserves130/1 | €17,396 | €17,396 | €17,396 | €17,396 | €17,396 | = |
| Legal reserve130 | €17,396 | €17,396 | €17,396 | €17,396 | €17,396 | = |
| Tax-exempt reserves132 | - | - | - | €121,238 | €121,238 | = |
| Distributable reserves133 | €419,860 | €419,860 | €419,860 | €605,497 | €812,143 | ▲ 34.1% |
| Profit (loss) carried forward14 | -€342,587 | -€114,912 | -€5,418 | - | - | - |
| Provisions and deferred taxes16 | - | - | - | €30,310 | €30,310 | = |
| Deferred taxes168 | - | - | - | €30,310 | €30,310 | = |
| Amounts payable17/49 | €159,894 | €303,546 | €278,999 | €342,719 | €423,816 | ▲ 23.7% |
| Amounts payable after more than one year17 | - | - | - | €21,399 | €11,524 | ▼ 46.1% |
| Financial debts170/4 | - | - | - | €21,399 | €11,524 | ▼ 46.1% |
| Amounts payable within one year42/48 | €159,894 | €303,546 | €278,999 | €321,320 | €408,221 | ▲ 27.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €9,874 | €9,876 | = |
| Financial debts43 | - | €28,115 | - | - | - | - |
| Credit institutions430/8 | - | €28,115 | - | - | - | - |
| Trade debts44 | €157,146 | €265,284 | €269,762 | €252,492 | €386,087 | ▲ 52.9% |
| Suppliers440/4 | €157,146 | €265,284 | €269,762 | €252,492 | €386,087 | ▲ 52.9% |
| Taxes, remuneration and social security45 | €2,748 | €10,147 | €9,237 | €58,954 | €12,125 | ▼ 79.4% |
| Taxes450/3 | €2,748 | €10,147 | €9,237 | €53,755 | €12,031 | ▼ 77.6% |
| Remuneration and social security454/9 | - | - | - | €5,200 | €94 | ▼ 98.2% |
| Other amounts payable47/48 | - | - | - | - | €133 | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €4,072 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €74,004 | €227,675 | €109,494 | €312,293 | €206,646 | ▼ 33.8% |
| + Depreciation and write-downs630 | €1,258 | €1,031 | €4,770 | €17,135 | €24,437 | ▲ 42.6% |
| Operating cash flow (approximation) | €75,262 | €228,706 | €114,264 | €329,428 | €231,083 | ▼ 29.9% |
| Investment in fixed assets (approximation) | - | €0 | -€33,495 | -€34,950 | -€109,753 | ▼ 214% |
| Change in cash | - | - | - | €14,164 | €470,025 | ▲ 3,218% |
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
08-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Equity above €1mEq €1.0m ▲25.7%
5 profitable years in a row build equity to €1.0m.
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €312,293 ▲185%
Operating result €287,129, net result €312,293, both a record.
31-12
Financial
Equity above €500,000Eq €805,631 ▲63.3%
4 profitable years in a row build equity to €805,631.
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €200,000Eq €383,844 ▲146%
2 profitable years in a row build equity to €383,844.
01-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €74,004
Net result €74,004 after 3 loss-making years.
31-12
Financial
Equity above €150,000Eq €156,169 ▲90.1%
Equity rises from €82,164 to €156,169.
08-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Show earlier events
2020
04-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 35 days late
2019
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
12-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Sint-Truiden · 1 establishment unit since 1990
Ground area
2,988 m²
Building footprint
332 m²
Volume, LiDAR
2,071 m³
Parcel 71352B0250/00K000, Flanders · tallest building 10.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
HELVAN NV
since 19902.046.446.414
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71352B0250/00K000 | Flanders | 2,988 m² | 1 · 332 m² | 10.6 m · 2 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.
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Of 1,136 companies in sector 46130 we hold annual accounts for 646. 341 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded12-12-1989
Fiscal year end31-12
Activities, NACEBEL 2025
46130Agents in the wholesale of timber and building materials
49410Freight transport by road
43110Demolition
43120Site preparation
43422Screed work
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0439248068
Registered
15-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.