HOLVAST
ActiveSummary
HOLVAST has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €43,132 and a net result of -€10,322. Equity is growing by ~8.8% per year across the filed fiscal years. Its solvency ranks better than 21% of 526 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability30▼-14
Solvency38▼-30
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity short (current ratio 0.96 against 1.18 in 2024; short-term debt: 40.6% and cash: 1.8% of total assets), and 87.3% 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 72
Relative position
BE, all sectors
reference
Scientific research and development (NACE 72)
about 30% 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
12.7%
Return on assets
-3%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€10,322
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 526 sector peers (2025).
NBB · sector comparisonPosition among 526 sector peers
Solvency
better than 21%
← weakest
strongest →
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 26-05-2026, 66 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
66 d early
2024
41 d early
2023
on the day
2022
15 d late
2021
3 d early
2020
on the day
2019
on the day
← 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 14 days before the deadline; the sector median for financial year 2024 is 13 days before the deadline, and 32% 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
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€43,132▼ 19.3%
2024 · €53,453
Total assets
€339,449▲ 175%
2024 · €123,608
Net result
-€10,322▼ 70.4%
2024 · -€6,057
Working capital
-€5,785
2024 · €9,019
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 72, Scientific research and development, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€40,053▲ 258%€2,878▼ 92.8%€6,133▲ 113%-€1,080-€1,350▼ 25.0%
Net result€29,031within the sector's middle half▲ 292%€461within the sector's middle half▼ 98.4%€1,673within the sector's middle half▲ 263%-€6,057below the sector's middle half-€10,322below the sector's middle half▼ 70.4%
Equity€57,376within the sector's middle half▲ 102%€57,837within the sector's middle half▲ 0.8%€59,510within the sector's middle half▲ 2.9%€53,453within the sector's middle half▼ 10.2%€43,132within the sector's middle half▼ 19.3%
Total assets€108,752below the sector's middle half▲ 30.0%€112,471below the sector's middle half▲ 3.4%€162,789within the sector's middle half▲ 44.7%€123,608within the sector's middle half▼ 24.1%€339,449within the sector's middle half▲ 175%
Debt€51,376▼ 7.1%€54,634▲ 6.3%€103,279▲ 89.0%€70,155▼ 32.1%€296,317▲ 322%
Working capital€9,364below the sector's middle half€1,016below the sector's middle half▼ 89.2%€4,695below the sector's middle half▲ 362%€9,019within the sector's middle half▲ 92.1%-€5,785below the sector's middle half
Solvency52.8%within the sector's middle half▲ 18.9pp51.4%within the sector's middle half▼ 1.3pp36.6%within the sector's middle half▼ 14.9pp43.2%within the sector's middle half▲ 6.7pp12.7%below the sector's middle half▼ 30.5pp
Current ratio1.21below the sector's middle half▲ 0.211.02below the sector's middle half▼ 0.191.06below the sector's middle half▲ 0.041.18within the sector's middle half▲ 0.120.96below the sector's middle half▼ 0.22
Return on assets (ROA)26.7%above the sector's middle half▲ 17.8pp0.4%within the sector's middle half▼ 26.3pp1.0%within the sector's middle half▲ 0.6pp-4.9%below the sector's middle half▼ 5.9pp-3.0%below the sector's middle half▲ 1.9pp
Staff (FTE)0.9=1.1▲ 22.2%1▼ 9.1%1.5▲ 50.0%
above
within
below
the middle half (P25 to P75) of NACE 72, Scientific research and development, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1,350 in 2025 against €1,080 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 €339,449
Fixed assets
€207,415 ▲ 220%
Current assets
€132,033 ▲ 125%
Equity and liabilities €339,449
Equity
€43,132 ▼ 19.3%
Debt
€296,317 ▲ 322%
Debt's share of the balance-sheet total rises from 56.8% to 87.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€16,570▼
2024 · €18,682
Cash flow
€7,598▼
2024 · €13,706
Quick ratio
0.75▲
2024 · 0.72
Debt to equity
6.87▲
2024 · 1.31
ROE
-23.9%▼
2024 · -11.3%
Interest coverage
1.83▼
2024 · 3.71
Debt ≤ 1 year
€137,818▲
2024 · €49,713
Debt > 1 year
€158,499▲
2024 · €20,442
Staff costs
€13,444▼
2024 · €55,125
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,165 companies that looked in July 2024 the way this one looks now, 2.6% went bankrupt within 24 months and 94% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a small loss
2.6%
went bankrupt
3.0%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 2,165 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €35,329 | €37,601 | €55,125 | €13,444 | ▼ 75.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,551 | €13,528 | €19,198 | €19,762 | €17,920 | ▼ 9.3% |
| Other operating charges640/8 | - | €2,205 | €2,093 | €4,411 | €2,812 | ▼ 36.3% |
| Gross operating margin9900 | €82,921 | €53,940 | €65,025 | €78,219 | €32,825 | ▼ 58.0% |
| Operating profit (loss)9901 | €40,053 | €2,878 | €6,133 | -€1,080 | -€1,350 | ▼ 25.0% |
| Financial income75/76B | - | €76 | €23 | €65 | €88 | ▲ 35.1% |
| Recurring financial income75 | €34 | €76 | €23 | €65 | €88 | ▲ 35.1% |
| Financial charges65/66B | - | €1,940 | €3,788 | €5,042 | €9,060 | ▲ 79.7% |
| Recurring financial charges65 | €1,250 | €1,940 | €3,788 | €5,042 | €9,060 | ▲ 79.7% |
| Profit (loss) for the period before taxes9903 | €38,837 | €1,014 | €2,368 | -€6,057 | -€10,322 | ▼ 70.4% |
| Income taxes67/77 | €9,806 | €553 | €695 | €0 | - | - |
| Profit (loss) for the period9904 | €29,031 | €461 | €1,673 | -€6,057 | -€10,322 | ▼ 70.4% |
| Profit (loss) for the period to be appropriated9905 | €29,031 | €461 | €1,673 | -€6,057 | -€10,322 | ▼ 70.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €108,752 | €112,471 | €162,789 | €123,608 | €339,449 | ▲ 175% |
| Fixed assets21/28 | €53,735 | €56,999 | €81,544 | €64,876 | €207,415 | ▲ 220% |
| Tangible fixed assets22/27 | €53,735 | €56,999 | €81,544 | €64,876 | €207,415 | ▲ 220% |
| Land and buildings22 | - | €5,987 | €43,981 | €42,843 | €42,084 | ▼ 1.8% |
| Plant, machinery and equipment23 | - | €24,035 | €16,880 | €10,793 | €10,603 | ▼ 1.8% |
| Furniture and vehicles24 | - | €5,829 | €4,179 | €1,704 | €14,754 | ▲ 766% |
| Other tangible fixed assets26 | - | €21,148 | €16,503 | €9,536 | €139,974 | ▲ 1,368% |
| Current assets29/58 | €55,018 | €55,472 | €81,245 | €58,732 | €132,033 | ▲ 125% |
| Stocks and contracts in progress3 | €15,586 | €14,332 | €19,590 | €23,035 | €28,039 | ▲ 21.7% |
| Stocks30/36 | - | €14,332 | €19,590 | €23,035 | €28,039 | ▲ 21.7% |
| Amounts receivable within one year40/41 | €25,796 | €29,268 | €57,066 | €30,825 | €97,819 | ▲ 217% |
| Trade receivables40 | - | €26,678 | €55,335 | €25,721 | €93,803 | ▲ 265% |
| Other amounts receivable41 | - | €2,590 | €1,731 | €5,104 | €4,016 | ▼ 21.3% |
| Cash at bank and in hand54/58 | €13,636 | €11,872 | €4,453 | €4,469 | €6,176 | ▲ 38.2% |
| Deferred charges and accrued income490/1 | - | - | €135 | €404 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €108,752 | €112,471 | €162,789 | €123,608 | €339,449 | ▲ 175% |
| Equity10/15 | €57,376 | €57,837 | €59,510 | €53,453 | €43,132 | ▼ 19.3% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €51,176 | €51,176 | €51,176 | €47,253 | €36,932 | ▼ 21.8% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | €49,316 | €49,316 | €45,393 | €35,072 | ▼ 22.7% |
| Profit (loss) carried forward14 | -€3,102 | €461 | €2,134 | €0 | - | - |
| Amounts payable17/49 | €51,376 | €54,634 | €103,279 | €70,155 | €296,317 | ▲ 322% |
| Amounts payable after more than one year17 | €5,668 | - | €26,729 | €20,442 | €158,499 | ▲ 675% |
| Financial debts170/4 | - | - | €26,729 | €20,442 | €158,499 | ▲ 675% |
| Amounts payable within one year42/48 | €45,653 | €54,456 | €76,550 | €49,713 | €137,818 | ▲ 177% |
| Current portion of amounts payable after more than one year42 | - | €13,851 | €5,012 | €3,796 | €17,418 | ▲ 359% |
| Financial debts43 | - | €956 | €7,133 | €7,082 | €0 | ▼ 100% |
| Credit institutions430/8 | - | €956 | €7,133 | €7,082 | €0 | ▼ 100% |
| Trade debts44 | €11,324 | €19,542 | €43,729 | €24,889 | €90,684 | ▲ 264% |
| Suppliers440/4 | - | €19,542 | €43,729 | €24,889 | €90,684 | ▲ 264% |
| Taxes, remuneration and social security45 | - | €9,969 | €13,016 | €10,562 | €2,368 | ▼ 77.6% |
| Taxes450/3 | - | €4,364 | €6,362 | €8,033 | €661 | ▼ 91.8% |
| Remuneration and social security454/9 | - | €5,605 | €6,655 | €2,529 | €1,707 | ▼ 32.5% |
| Other amounts payable47/48 | - | €10,138 | €7,661 | €3,384 | €27,348 | ▲ 708% |
| Accrued charges and deferred income492/3 | - | €178 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €29,031 | €461 | €1,673 | -€6,057 | -€10,322 | ▼ 70.4% |
| + Depreciation and write-downs630 | €9,551 | €13,528 | €19,198 | €19,762 | €17,920 | ▼ 9.3% |
| Operating cash flow (approximation) | €38,582 | €13,989 | €20,872 | €13,706 | €7,598 | ▼ 44.6% |
| Investment in fixed assets (approximation) | - | -€16,792 | -€43,743 | -€3,094 | -€160,459 | ▼ 5,086% |
| Change in cash | - | -€1,764 | -€7,418 | €15 | €1,707 | ▲ 10,948% |
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
26-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€10,322
Net result drops to -€10,322, the lowest in the series.
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
15-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 15 days late
2022
28-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Highest result since 2019net €29,031 ▲292%
Operating result €40,053, net result €29,031, both a record.
31-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
Financial
Back to profitnet €7,412
Net result €7,412 after one loss-making year.
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
15-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Asse · 1 establishment unit since 2015
Ground area
810 m²
Building footprint
221 m²
Volume, LiDAR
1,186 m³
2 parcels, Flanders · tallest building 9.9 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
HOLVAST
since 20152.248.837.607
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23002G0015/00P000 | Flanders | 712 m² | 1 · 124 m² | 6.3 m · 2 fl. |
| 23002K0101/00E000 | Flanders | 98 m² | 1 · 98 m² | 9.9 m · 2 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteAsse2.248.837.607
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Of 762 companies in sector 72101 we hold annual accounts for 484. 232 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
Founded23-12-2015
Fiscal year end31-12
Activities, NACEBEL 2025
43130Specialised construction activities
72101Research and development on biotechnology
01210Crop and animal production, hunting and related service activities
01610Support activities for crop production
10320Manufacture of food products
11020Manufacture of beverages
28930Manufacture of machinery and equipment not elsewhere classified
46349Wholesale of beverages, general range
71209Other technical testing and analysis
72109Other research and development on natural sciences
82920Office administrative, office support and other business support activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0644793741
Also
9925:BE0644793741
Registered
09-01-2024
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.