HIVAN
ActiveSummary
HIVAN has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.9m and a net result of €269,256. Equity is growing by ~8.5% per year across the filed fiscal years. Its solvency ranks better than 92% of 7794 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability85▼-15
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €160,000 at 30 days acceptable
Liquidity ample (current ratio 15.69 against 16.4 in 2024; short-term debt: 6.3% and cash: 7.2% of total assets), and 6.6% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
93.4%
Return on assets
13.2%
Age of the figures
9 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
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 02-07-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 d early
2024
37 d early
2023
51 d early
2022
35 d early
2021
19 d early
2020
47 d early
2019
31 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 36 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€1.9m▲ 16.5%
2024 · €1.6m
Total assets
€2.0m▲ 16.8%
2024 · €1.7m
Net result
€269,256▼ 46.1%
2024 · €499,613
Working capital
€1.9m▲ 17.6%
2024 · €1.6m
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€152,793▼ 37.3%€184,381▲ 20.7%€259,809▲ 40.9%€636,812▲ 145%€395,985▼ 37.8%
Net result€109,775▼ 31.8%€133,316▲ 21.4%€166,879▲ 25.2%€499,613▲ 199%€269,256▼ 46.1%
Equity€1.1m▼ 21.5%€965,332▼ 10.7%€1.1m▲ 17.3%€1.6m▲ 44.1%€1.9m▲ 16.5%
Total assets€1.6m▼ 8.0%€1.3m▼ 16.6%€1.2m▼ 4.8%€1.7m▲ 40.3%€2.0m▲ 16.8%
Debt€484,992▲ 49.3%€339,801▼ 29.9%€109,943▼ 67.6%€111,380▲ 1.3%€135,128▲ 21.3%
Working capital€425,369▼ 40.9%€378,667▼ 11.0%€614,360▲ 62.2%€1.6m▲ 162%€1.9m▲ 17.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 38% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.0m
Fixed assets
€10,471 ▼ 59.7%
Current assets
€2.0m ▲ 18.0%
Equity and liabilities €2.0m
Equity
€1.9m ▲ 16.5%
Debt
€135,128 ▲ 21.3%
Debt's share of the balance-sheet total rises from 6.4% to 6.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€413,684▼
2024 · €649,798
Cash flow
€286,956▼
2024 · €512,599
Current ratio
15.69▼
2024 · 16.40
Debt to equity
0.07▲
2024 · 0.07
ROE
14.2%▼
2024 · 30.6%
ROA
13.2%▼
2024 · 28.7%
Interest coverage
10.26▼
2024 · 68.72
Debt ≤ 1 year
€129,132▲
2024 · €104,729
Income taxes
€135,086▼
2024 · €212,972
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €65,391 | €69,297 | €69,399 | €12,986 | €17,699 | ▲ 36.3% |
| Other operating charges640/8 | €3,297 | €2,724 | €4,515 | €4,936 | €3,853 | ▼ 21.9% |
| Gross operating margin9900 | €221,482 | €256,403 | €333,723 | €654,734 | €417,538 | ▼ 36.2% |
| Operating profit (loss)9901 | €152,793 | €184,381 | €259,809 | €636,812 | €395,985 | ▼ 37.8% |
| Financial income75/76B | €7,795 | €20,283 | €6,292 | €85,229 | €48,677 | ▼ 42.9% |
| Recurring financial income75 | €7,795 | €20,283 | €6,292 | €85,229 | €48,677 | ▼ 42.9% |
| Financial charges65/66B | €7,418 | €10,665 | €19,889 | €9,456 | €40,320 | ▲ 326% |
| Recurring financial charges65 | €7,418 | €10,665 | €19,889 | €9,456 | €40,320 | ▲ 326% |
| Profit (loss) for the period before taxes9903 | €153,170 | €193,999 | €246,212 | €712,586 | €404,342 | ▼ 43.3% |
| Income taxes67/77 | €43,395 | €60,683 | €79,333 | €212,972 | €135,086 | ▼ 36.6% |
| Profit (loss) for the period9904 | €109,775 | €133,316 | €166,879 | €499,613 | €269,256 | ▼ 46.1% |
| Profit (loss) for the period to be appropriated9905 | €109,775 | €133,316 | €166,879 | €499,613 | €269,256 | ▼ 46.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.6m | €1.3m | €1.2m | €1.7m | €2.0m | ▲ 16.8% |
| Fixed assets21/28 | €659,059 | €590,802 | €522,673 | €25,955 | €10,471 | ▼ 59.7% |
| Tangible fixed assets22/27 | €659,059 | €590,802 | €522,673 | €25,955 | €10,471 | ▼ 59.7% |
| Land and buildings22 | €597,673 | €543,563 | €489,454 | €0 | - | - |
| Plant, machinery and equipment23 | €6,137 | €5,438 | €3,679 | €19 | €1,833 | ▲ 9,495% |
| Furniture and vehicles24 | €55,250 | €41,802 | €29,541 | €25,936 | €8,638 | ▼ 66.7% |
| Current assets29/58 | €906,654 | €714,331 | €719,480 | €1.7m | €2.0m | ▲ 18.0% |
| Amounts receivable within one year40/41 | €36,001 | €2,428 | €1,822 | €2,544 | €1,798 | ▼ 29.3% |
| Trade receivables40 | €2,807 | €1,150 | €1,822 | €2,544 | €1,798 | ▼ 29.3% |
| Other amounts receivable41 | €33,193 | €1,278 | €0 | - | - | - |
| Current investments50/53 | €745,069 | €580,276 | €684,470 | €919,683 | €1.9m | ▲ 104% |
| Cash at bank and in hand54/58 | €125,257 | €130,193 | €31,915 | €793,684 | €146,762 | ▼ 81.5% |
| Deferred charges and accrued income490/1 | €327 | €1,433 | €1,273 | €1,339 | €1,384 | ▲ 3.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.6m | €1.3m | €1.2m | €1.7m | €2.0m | ▲ 16.8% |
| Equity10/15 | €1.1m | €965,332 | €1.1m | €1.6m | €1.9m | ▲ 16.5% |
| Contributions10/11 | €115,190 | €115,190 | €115,190 | €115,190 | €115,190 | = |
| Reserves13 | €965,531 | €850,142 | €1.0m | €1.5m | €1.8m | ▲ 17.8% |
| Distributable reserves133 | €965,531 | €850,142 | €1.0m | €1.5m | €1.8m | ▲ 17.8% |
| Profit (loss) carried forward14 | - | €0 | €0 | - | - | - |
| Amounts payable17/49 | €484,992 | €339,801 | €109,943 | €111,380 | €135,128 | ▲ 21.3% |
| Amounts payable within one year42/48 | €481,285 | €335,664 | €105,119 | €104,729 | €129,132 | ▲ 23.3% |
| Trade debts44 | €10,159 | €7,713 | €4,942 | €5,308 | €1,671 | ▼ 68.5% |
| Suppliers440/4 | €10,159 | €7,713 | €4,942 | €5,308 | €1,671 | ▼ 68.5% |
| Taxes, remuneration and social security45 | €1,352 | €13,941 | €34,506 | €36,646 | €63,232 | ▲ 72.5% |
| Taxes450/3 | €1,352 | €12,260 | €34,506 | €36,646 | €63,232 | ▲ 72.5% |
| Remuneration and social security454/9 | - | €1,680 | €0 | - | - | - |
| Other amounts payable47/48 | €469,774 | €314,011 | €65,672 | €62,775 | €64,229 | ▲ 2.3% |
| Accrued charges and deferred income492/3 | €3,708 | €4,137 | €4,823 | €6,651 | €5,996 | ▼ 9.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €109,775 | €133,316 | €166,879 | €499,613 | €269,256 | ▼ 46.1% |
| + Depreciation and write-downs630 | €65,391 | €69,297 | €69,399 | €12,986 | €17,699 | ▲ 36.3% |
| Operating cash flow (approximation) | €175,166 | €202,614 | €236,278 | €512,599 | €286,956 | ▼ 44.0% |
| Investment in fixed assets (approximation) | - | -€1,041 | -€1,270 | €483,732 | -€2,215 | ▼ 100% |
| Change in cash | - | €4,936 | -€98,279 | €761,769 | -€646,922 | ▼ 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
2026
06-08
State Gazette act
Board meeting · General meeting
Director appointment · Director reappointment
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €499,613 ▲199%
Operating result €636,812, net result €499,613, both a record.
31-12
Financial
Liquidity doublescurrent ratio 16.40
Current ratio from 6.84 to 16.40; short-term debt falls from €105,119 to €104,729.
10-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity triplescurrent ratio 6.84
Current ratio from 2.13 to 6.84; short-term debt falls from €335,664 to €105,119.
31-12
Financial
Equity above €1mEq €1.1m ▲17.3%
6 profitable years in a row build equity to €1.1m.
26-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
14-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
04-03
State Gazette act
General meeting · Director resignation
Board meeting · Director appointment
Show earlier events
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
19-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
04-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2013
22-01
State Gazette act
Board meeting · Director resignation
Director appointment · Permanent representative
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 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
11 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, De Panne · 1 establishment unit since 2002
Ground area
2,180 m²
Building footprint
553 m²
Volume, LiDAR
3,980 m³
2 parcels, Flanders · tallest building 15.3 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Prins de Lignestraat 1, 3001 Leuven
since 20022.214.480.603
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38352D0357/00C000 | Flanders | 1,621 m² | 1 · 182 m² | 10.1 m · 2 fl. |
| 24434F0286/00W013 | Flanders | 559 m² | 1 · 372 m² | 15.3 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Structure & network
Connections & network
5 connected companiesThis company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Linked via shared directors
Fondation Médicale Reine Elisabeth
Shared director
→
FONDS FEDERAL DE LA RECHERCHE SCIENTIFIQUE
Shared director
→
Fonds voor wetenschappelijk Onderzoek - Vlaanderen
Shared director
→
HospiLim
Shared director
→
Show 1 more companies with a shared director
UC Leuven
Shared director
→
Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
2 locations
Recognitions · licences · registrations
Legal Entity Identifier
6488YZ07QPL6484J2X50
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Of 11,220 companies in sector 82100 we hold annual accounts for 3,511. 1,103 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded04-07-2002
Fiscal year end31-12
Activities, NACEBEL 2025
82100Office administrative and support services
Scores and ratios are computed by Checked and are not a credit decision.