Equity
€76,601 from €135,781 in 2011
Equity fell by 44% in 14 years.
Hovingen
Lifetime
20 annual accounts with figures on one time axispeak €238,606 (2020)
-€10,809▲ €2,385
lowest -€234,770 (2015)
-€26,195▼ €14,749
peak €135,781 (2011)
€76,601▼ 25.5%
€993,602▲ 201%
Board1 name since 2020
1 directorBOSTOEN Yves
Owners3 names in the annual accounts
Documentsfilings and deeds
22-06-202639 days before the deadline
2025financial year
Gross margin from -€13,194 to -€10,809Loss of €26,195Registered office moved from Destelbergen to Sint-Denijs-Westrem 16-01Equity from €102,796 to €76,601Debts from €330,241 to €993,602Cash from €14 to €431
Key points
from the 2025 annual accountsChecked score
64
Healthy
Financially stronger than 16% of micro companies in real estate (NACE 68)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
1.0% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,626 companies (NACE 68, micro).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%lowest value
01-2025: 0.3%● unchanged vs 12-2024lowest value
02-2025: 0.7%▲ +0.4 percentage points vs 01-2025
03-2025: 0.7%● unchanged vs 02-2025
04-2025: 0.7%● unchanged vs 03-2025
05-2025: 0.7%● unchanged vs 04-2025
06-2025: 0.7%● unchanged vs 05-2025
07-2025: 0.9%▲ +0.2 percentage points vs 06-2025
08-2025: 0.9%● unchanged vs 07-2025
09-2025: 0.9%● unchanged vs 08-2025
10-2025: 0.9%● unchanged vs 09-2025
11-2025: 0.9%● unchanged vs 10-2025
12-2025: 0.9%● unchanged vs 11-2025
01-2026: 0.9%● unchanged vs 12-2025
02-2026: 0.9%● unchanged vs 01-2026
03-2026: 0.9%● unchanged vs 02-2026
04-2026: 0.9%● unchanged vs 03-2026
05-2026: 0.9%● unchanged vs 04-2026
06-2026: 0.9%● unchanged vs 05-2026
07-2026: 1.0%▲ +0.1 percentage points vs 06-2026highest value
08-2026: 1.0%● unchanged vs 07-2026highest value
09-2026: 1.0%● unchanged vs 08-2026highest value
10-2026: 1.0%● unchanged vs 09-2026highest value
11-2026: 1.0%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
Liquidity: current ratio 1.07, cash €431
1 change of registered office in 24 months
Equity €76,601 (7.2% of total assets)
lowers risk
Size: total assets €1.1m
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 28% of them on solvency, 2% on liquidity, 18% on profitability and 19% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,104 companies had the same profile as Hovingen has now. Each dot stands for 3 companies, two years later.
94.2%
were still trading
3.6%
stopped another way
1.8%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Hovingen itself: 1.0% within 12 months.
Test of the method
The method was tested on the 497,447 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 1,104 companies, not a prediction for Hovingen. 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.
Credit verdict
Credit of up to €4,500 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.07 (1.29 in 2024), below the usual 1.5. Short-term debt is 92.8% and cash 0% of total assets. 92.8% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
lowers riskraises riskneutral
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
1819202122232425
2018 to 2025 · latest year -€26,195
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 5810 sector peers (2025).
NBB · sector comparisonPosition among 5810 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 22-06-2026, 39 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
39 days early
2024
37 days early
2023
20 days early
2022
28 days early
2021
69 days early
2020
15 days early
2019
37 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 35 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 24 June (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- INVIMMO 98.57%score 86equity €3.7m (2025) · 2025 annual accounts of INVIMMO
- Bostoen group NV consolidatesscore 82equity €20.8m (2025) · annual accounts 2016
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0872760765
Registered office moved from Destelbergen to Sint-Denijs-Westrem
New registered office: Wittepaalstraat 53, 9051 Sint-Denijs-Westrem · Previous registered office: Melkwegel 66 bus 201, 9070 Destelbergen · Board meeting of 06-12-2024 · Gazette deed
Environmental permit granted
Bomen vellen die geen deel uitmaken van een bos en/of bodemreliëf wijzigen, Bouwen of herbouwen, Nieuwbouw of aanleggen and 1 more · Destelbergen
Environmental permit refused
Bouwen of herbouwen, Nieuwbouw of aanleggen, Nieuwbouw van bijgebouwen en niet overdekte lage constructie and 1 more · Destelbergen
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Hovingen Ghent | €1.1m | -€10,809 | 7.2% | - |
| IMMO BOUWTEAM Deinze | €0.9m | -€6,582 | 99.1% | - |
| SAKURA Sint-Genesius-Rode | €1.1m | -€944 | -46.0% | - |
| GIA PARTNERS Waterloo | €1.0m | -€3,604 | 2.0% | - |
| TANA PROPERTIES Uccle | €1.2m | -€5,028 | 32.7% | - |
| MANCUSO Charleroi | €1.0m | -€31,940 | 33.2% | - |
| KESCO TRADE AND TRANS EUROPE Ixelles | €1.0m | -€9,655 | -54.5% | - |
These companies have the same main activity as Hovingen: real estate agency activities (NACE 68310). They are comparable in size and age: total assets between €859,000 and €1.2m, founded between 2002 and 2007.
Official details
Source: KBO- Status
- Active since 15-03-2005Normal situation
- Activity
- Real estate agency activitiesNACE 68310and 1 other
- Establishment unit
- 2.147.158.9409051 Ghent, since 25-05-2005
- Financial year end
- 31 December
- Peppol
- Reachable since 09-10-2025
Annual accounts 2025
- €1.1m▲ 147%
- Filing
- Filed on 22-06-2026, 39 days before the end of the filing period
Companies linked to Hovingen
Parent and group
Insights on Hovingen
Hovingen has existed since 2005. The gross margin fell from €238,606 in 2020 to €1,247 in 2021.
Solvency fell in 2025 from 23.7% to 7.2% because of the loss.
INVIMMO holds 98.57% of the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Hovingen
- What is the company number of Hovingen?
- The company number of Hovingen is 0872.760.765. The VAT number is the same number with BE in front: BE 0872.760.765.
- Where is Hovingen based?
- The registered office is at Wittepaalstraat 53, 9051 Ghent.Company details
- What does Hovingen do?
- According to the KBO register, the main activity is real estate agency activities (NACE 68310).
- What is the legal form of Hovingen?
- Hovingen is a public limited company (NV).
- When was Hovingen founded?
- Hovingen was founded on 15-03-2005.
- Is Hovingen still active?
- Yes, Hovingen is an active enterprise in the KBO register.
- What is the turnover of Hovingen?
- The annual accounts for financial year 2025 state no turnover.Financials
- Is Hovingen profitable?
- In financial year 2025, Hovingen made a loss of €26,195.
- Where can I find the annual accounts of Hovingen?
- Hovingen filed 20 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Hovingen due?
- Hovingen must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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