IMMO CAVAN has been active since 1993 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.0m and a net result of €8,864. Equity has been growing by about 3.2% per year since 2018. The computed 12-month bankruptcy probability is below 0.1% (very low).
“Het aankopen,ruilen of anderszins verwerven,het verkopen,huren,verhuren,verkavelen,doen bouwen,doen verbouwen,doen bebouwen van alle al dan niet…” (deed in Dutch)From the articles, 5 activitiesNo NACE code in the KBO yet
Score breakdownraises riskLiquidity: current ratio 80.58, cash €77,605lowers riskSize: total assets €3.0mEquity €3.0m (99.9% of total assets)Figures for financial year 2025 (filed on 09-07-2026)Show the evidence
Checked score
Score 2025
Checked score
The higher the Checked score (0 to 100), the smaller the chance that the company goes bankrupt within twelve months. That chance sets the band, from Critical to Excellent, and within the band how the company does against its sector peers counts too. With a low score, agree a shorter payment term, an advance or security.
96/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 68% of small companies without a NACE code
Financial strength measures the balance sheet and the results with three figures out of 100 from the latest annual accounts: solvency, liquidity and profitability. It does not directly set the Checked score's band. How the company does against its sector peers on these and on growth does count for its place within the band.
Strong
Solvency100=
equity 99.9% of total assets
Liquidity53=
short-term debt 0.1% · cash 2.6%
Profitability69=
return on assets 0.3%
Bankruptcy probability within 12 months
Bankruptcy probability
It is the chance that the company goes bankrupt within twelve months, estimated from the registers, the annual accounts and the Belgian Official Gazette. At 0.2%, about 2 in 1,000 comparable companies go bankrupt. The higher it is, the shorter the payment term to agree.
< 0.1%Very low
0%0.5%1.5%4%10%≥ 25%
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months12-2024: < 0.1%01-2025: < 0.1%● unchanged vs 12-202402-2025: < 0.1%● unchanged vs 01-202503-2025: < 0.1%● unchanged vs 02-202504-2025: < 0.1%● unchanged vs 03-202505-2025: < 0.1%● unchanged vs 04-202506-2025: < 0.1%● unchanged vs 05-2025highest value07-2025: < 0.1%● unchanged vs 06-202508-2025: < 0.1%● unchanged vs 07-202509-2025: < 0.1%● unchanged vs 08-202510-2025: < 0.1%● unchanged vs 09-202511-2025: < 0.1%● unchanged vs 10-202512-2025: < 0.1%● unchanged vs 11-202501-2026: < 0.1%● unchanged vs 12-202502-2026: < 0.1%● unchanged vs 01-202603-2026: < 0.1%● unchanged vs 02-202604-2026: < 0.1%● unchanged vs 03-202605-2026: < 0.1%● unchanged vs 04-202606-2026: < 0.1%● unchanged vs 05-202607-2026: < 0.1%● unchanged vs 06-202608-2026: < 0.1%● unchanged vs 07-202609-2026: < 0.1%● unchanged vs 08-2026lowest value10-2026: < 0.1%● unchanged vs 09-2026lowest value11-2026: < 0.1%● unchanged vs 10-2026lowest value
Credit of up to €290,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 80.58 (25.03 in 2024), above the usual 1.5. Short-term debt is 0.1% and cash 2.6% of total assets. 0.1% of the assets are financed with debt and provisions.
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 (no NACE code, small). It does better than 82% of them on solvency, 69% on liquidity, 72% on profitability and 48% on growth.
The bankruptcy probability was computed on 02-11-2026 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.
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).
Credit check for an amount and term of your choice
The company filed its last 7 accounts on average 36 days before the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were 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 11 July (5 of the last 5 accounts filed within 30 days either side of that date).
The EBIT margin is the share of each euro of revenue left from ordinary operations. The higher it is, the more room the company has to absorb a setback.
The net result is what is left after all costs and taxes. One loss year is not an alarm on its own. After several loss years in a row, it pays to find out why.
Working capital is what is left when the company pays its short-term debts with its short-term assets. Positive means it can pay its bills in the short term.
Working capital€0.2m-€0.2m▲ 5.3%€0.2m▲ 5.4%€0.2m▲ 5.2%€0.2m▲ 4.8%€0.2m▲ 5.0%€0.2m▲ 6.6%€0.2m▲ 3.9%
The operating result for 2025 is 36% lower than in 2024 and the lowest since 2021.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.0m
91.7%
8%
Fixed assets€2.8m =
Current assets€249,878 ▲ 1.0%
Equity and liabilities €3.0m
99.9%
Equity€3.0m ▲ 0.3%
Debt€3,101 ▼ 68.6%
Debt's share of the balance-sheet total falls from 0.3% to 0.1%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€13,080▼
2024 · €20,200
Cash flow
€9,283▼
2024 · €14,792
Current ratio
80.58▲
2024 · 25.03
Debt to equity
0.00▼
2024 · 0.00
ROE
0.3%▼
2024 · 0.5%
ROA
0.3%▼
2024 · 0.5%
Interest coverage
50.79▼
2024 · 67.06
Debt ≤ 1 year
€3,101▼
2024 · €9,885
Income taxes
€3,539▼
2024 · €5,107
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
Filed annual accountsAs filed with the NBB · 2025 against 2024 · 38 lines
Balance sheetCode20242025
Assets
Total assets20/58€3.0m€3.0m▲
Fixed assets21/28€2.8m€2.8m=
Tangible fixed assets22/27€2.8m€2.8m=
Land and buildings22€2.8m€2.8m=
Current assets29/58€0.2m€0.2m▲
Amounts receivable within one year40/41€0.2m€0.2m=
Other amounts receivable41€0.2m€0.2m=
Cash at bank and in hand54/58€0.08m€0.08m▲
Deferred charges and accrued income490/1-€1
Equity and liabilities
Total equity and liabilities10/49€3.0m€3.0m▲
Equity10/15€3.0m€3.0m▲
Contributions10/11€0.1m€0.1m=
Capital10€0.1m€0.1m=
Issued capital100€0.1m€0.1m=
Revaluation surpluses12€2.7m€2.7m=
Reserves13€0.06m€0.06m=
Non-distributable reserves130/1€0.01m€0.01m=
Legal reserve130€0.01m€0.01m=
Distributable reserves133€0.05m€0.05m=
Profit (loss) carried forward14€0.2m€0.2m▲
Amounts payable17/49€0.01m€0.003m▼
Amounts payable within one year42/48€0.01m€0.003m▼
Trade debts44€0.005m-
Suppliers440/4€0.005m-
Taxes, remuneration and social security45€0.005m€0.003m▼
Taxes450/3€0.005m€0.003m▼
Income statementCode20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€419€419▼
Other operating charges640/8€0.009m€0.01m▲
Gross operating margin9900€0.03m€0.02m▼
Operating profit (loss)9901€0.02m€0.01m▼
Financial charges65/66B€301€258▼
Recurring financial charges65€301€258▼
Profit (loss) for the period before taxes9903€0.02m€0.01m▼
Income taxes67/77€0.005m€0.004m▼
Profit (loss) for the period9904€0.01m€0.009m▼
Profit (loss) for the period to be appropriated9905€0.01m€0.009m▼
Appropriation of the result
Profit (loss) to be appropriated9906€0.2m€0.2m▲
Profit (loss) brought forward from the previous period14P€0.2m€0.2m▲
The notes to these accounts have 4 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
The figures are counted, not predicted. They describe the group, not IMMO CAVAN.
In July 2024, 14,766 companies had the same profile as IMMO CAVAN has now. Two years later, 96.2% were still going and 0.2% had gone bankrupt.
Small
20 years or older
solvency 30% or more
a profit under 5% of the balance sheet
96.2%was still going
3.5%stopped otherwise
0.2%went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of IMMO CAVAN itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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.
The companies in ten equal groups, from the lowest to the highest expected share
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 14,766 companies, not a prediction for IMMO CAVAN. 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.
Chair of the board · appointed in the act of 16-08-2023 · Director · since 30-06-2023 · also on the board of 8 other companies · listed in the 2025 annual accounts, filed on 09-07-2026
Director · current term since 30-06-2024 · earlier director and managing director, until 30-06-2023 · 6-year term from 2023 · Limited partnership · permanent representative: Marc Jonckheere · also on the board of 32 other companies · listed in the 2025 annual accounts, filed on 09-07-2026
Equity €1.9mProfit of €142,628 in 2025 (profit of €278,991 in 2024)Checked score 95
1.6%
Capital transactions
Capital transactions
A capital increase usually strengthens the company. With a reduction, it pays to find out why.
Capital over time
06-02-2024Capital stated in the deed · €123,946.76 · 5,000 shares
Mandate history
Mandate history
Each bar is one period in a function, from appointment to resignation or to today. An open left edge means the mandate began before its first mention. An open right edge means the mandate ended without a stated end date.
Gazette deedChange of role: MaNaJo Beheer CommV, from director and managing director to director
Resignations: Willemen Groep nv (director and managing director) and Johan Willemen (director and managing director) · Permanent representatives: Tom Willemen and Marc Jonckheere · Appointment: Tom Willemen (director)12 points ▸
General meeting, 30-06-2023
Director resignation, Willemen Groep nv (director and managing director)
Director resignation, Johan Willemen (director and managing director)
Director resignation, MaNaJo Beheer CommV (director and managing director)
Permanent representative, Tom Willemen
Permanent representative, Marc Jonckheere
Director appointment, Tom Willemen (director)
Director appointment, MaNaJo Beheer CommV (director)
Board meeting, 30-06-2023
Director appointment, Tom Willemen (managing director)
Director appointment, MaNaJo Beheer CommV (managing director)
Director appointment, Tom Willemen (chair of the board)
Each sentence rests on a document from the KBO register, the Belgian Official Gazette or the National Bank. The number after the sentence opens that document.
IMMO CAVAN was incorporated on 10 May 1993.1Total assets rose from €318,095 in 2018 to €3.0m in 2025.2
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
Establishment unitBooiebos 4, 9031 Gent since 25-05-1993 · unit number 2.062.320.66168201 Renting and operating of own or leased residential real estate, excluding social housing
Activities
PurposeThe purpose describes the activities the company may carry out under its articles.
“Het aankopen,ruilen of anderszins verwerven,het verkopen,huren,verhuren,verkavelen,doen bouwen,doen verbouwen,doen bebouwen van alle al dan…”
5 activities
Het aankopen,ruilen of anderszins verwerven,het verkopen,huren,verhuren,verkavelen,doen bouwen,doen verbouwen,doen bebouwen van alle al dan niet bebouwde onroerende goederen in België en in het buitenland,alsmede het verrichten van alle handelingen die nodig,nuttig of dienstig zijn voor het beheren en uitbaten van dit onroerend patrimonium van de vennootschap.
Het bij wijze van inschrijving,inbreng,fusie,samenwerking,financiële tussenkomst of anderszins verwerven van een belang of deelneming in alle bestaande of nog op te richten vennootschappen zonder onderscheid,in België of in het buitenland.Het beheren,valoriseren of te gelde maken van deze participaties of belangen en in het algemeen het stellen van alle handelingen of daden die nodig of nuttig zijn voor het beheer van dit roerend patrimonium van de vennootschap.
De vennootschap kan ondermeer rechtstreeks of onrechtstreeks deelnemen aan het bestuur,de directie,de controle en vereffening van de vennootschappen waarin zij een belang of deelneming heeft.
Zij kan alle hoegenaamde handels-,nijverheids-,financiële,roerende en onroerende verrichtingen uitvoeren,die rechtstreeks of onrechtstreeks in verband staan met haar voorwerp of die van aard zijn dit te begunstigen.
Zij kan zich ten gunste van de vennootschappen waarin zij een belang of deelneming heeft borgstellen of haar aval verlenen,optreden als agent of vertegenwoordiger,voorschotten toestaan,kredieten verlenen,hypothecaire of andere zekerheden verstrekken.