INCAVU

Inactive

Public limited companyfounded 1992Elisabethlaan 30, 1970 Wezembeek-Oppem, BelgiumKBO/BCE: BE 0447.974.407

Inactive since 01-07-2026; last annual accounts for fiscal year 2025.

Risk analysis Watch Report Compare

INCAVUInactive

Risk analysis Report Compare

Signals

1 signal. The signal on the left, the evidence on the right.

○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 02-06-2026, 59 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

59 d early

2024

56 d early

2023

58 d early

2022

56 d early

2021

40 d early

2020

44 d early

2019

43 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 51 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.

Checked, nothing found (1)

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

History

On 24 July 1992, INCAVU was incorporated.¹ Total assets went from EUR 546,909 in 2018 to EUR 752,677 in 2025.²

Go further with this company

What became of the directors' other companies?Supplier due diligence Who ran this company, and where was it based, on a date before the end?Company as of a date How is the Business and other management consultancy sector doing?Sector figures

Investigating this company? Keep it with today's facts in a case file.

Financials · fiscal year 2025, micro schema

Equity

€600,936▲ 8.7%

2024 · €552,923

Total assets

€752,677▲ 8.3%

2024 · €695,236

Net result

€48,013▲ 7.7%

2024 · €44,588

Working capital

€257,462▲ 66.8%

2024 · €154,392

Trend over the years

Chart Table

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, 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€23,971▲ 117%-€12,307-€18,155▼ 47.5%€51,905€66,691▲ 28.5%

Net result€21,546▲ 151%-€13,857-€21,510▼ 55.2%€44,588€48,013▲ 7.7%

Equity€543,702▲ 4.1%€529,845▼ 2.5%€508,334▼ 4.1%€552,923▲ 8.8%€600,936▲ 8.7%

Total assets€608,263▲ 8.3%€644,751▲ 6.0%€625,586▼ 3.0%€695,236▲ 11.1%€752,677▲ 8.3%

Debt€64,561▲ 64.3%€114,906▲ 78.0%€117,252▲ 2.0%€142,313▲ 21.4%€151,742▲ 6.6%

Working capital-€36,614-€8,122▲ 77.8%€49,296€154,392▲ 213%€257,462▲ 66.8%

Solvency89.4%▼ 3.6pp82.2%▼ 7.2pp81.3%▼ 0.9pp79.5%▼ 1.7pp79.8%▲ 0.3pp

Current ratio0.43▼ 8.480.93▲ 0.501.42▲ 0.492.08▲ 0.662.70▲ 0.61

Return on assets (ROA)3.5%▲ 2.0pp-2.1%▼ 5.7pp-3.4%▼ 1.3pp6.4%▲ 9.9pp6.4%=

above within below the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, 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

After the dip in 2023 the operating result has climbed two years in a row; 2025 is 28% above 2024 and is the highest result in the available series.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €752,677

45.6%

54.4%

Fixed assets €343,474 ▼ 13.8%

Current assets €409,204 ▲ 37.9%

Equity and liabilities €752,677

79.8%

20.2%

Equity €600,936 ▲ 8.7%

Debt €151,742 ▲ 6.6%

Debt's share of the balance-sheet total falls from 20.5% to 20.2%. Equity and debt are higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€121,749▲

2024 · €112,412

Cash flow

€103,071▼

2024 · €105,095

Debt to equity

0.25▼

2024 · 0.26

ROE

8.0%▼

2024 · 8.1%

Interest coverage

30.34▼

2024 · 30.57

Debt ≤ 1 year

€151,742▲

2024 · €142,313

Income taxes

€15,749▲

2024 · €3,639

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Filed annual accounts As filed with the NBB · 2025 against 2024 · 42 lines

Balance sheet Code20242025

Assets

Total assets20/58€695,236€752,677▲

Fixed assets21/28€398,531€343,474▼

Tangible fixed assets22/27€398,531€343,474▼

Land and buildings22€394,768€340,350▼

Furniture and vehicles24€3,763€3,124▼

Current assets29/58€296,705€409,204▲

Amounts receivable within one year40/41€6,361-

Other amounts receivable41€6,361-

Cash at bank and in hand54/58€290,344€409,204▲

Equity and liabilities

Total equity and liabilities10/49€695,236€752,677▲

Equity10/15€552,923€600,936▲

Contributions10/11€483,392€483,392=

Capital10€483,392€483,392=

Issued capital100€483,392€483,392=

Reserves13€58,612€113,612▲

Non-distributable reserves130/1€38,612€38,612=

Legal reserve130€38,612€38,612=

Distributable reserves133€20,000€75,000▲

Profit (loss) carried forward14€10,918€3,931▼

Amounts payable17/49€142,313€151,742▲

Amounts payable within one year42/48€142,313€151,742▲

Trade debts44€442-

Suppliers440/4€442-

Taxes, remuneration and social security45€6,144€12,034▲

Taxes450/3€6,144€12,034▲

Other amounts payable47/48€135,727€139,707▲

Income statement Code20242025

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€60,507€55,058▼

Other operating charges640/8€4,260€4,439▲

Gross operating margin9900€116,671€126,188▲

Operating profit (loss)9901€51,905€66,691▲

Financial income75/76B-€1,083

Recurring financial income75-€1,083

Financial charges65/66B€3,677€4,012▲

Recurring financial charges65€3,677€4,012▲

Profit (loss) for the period before taxes9903€48,228€63,762▲

Income taxes67/77€3,639€15,749▲

Profit (loss) for the period9904€44,588€48,013▲

Profit (loss) for the period to be appropriated9905€44,588€48,013▲

Appropriation of the result

Profit (loss) to be appropriated9906€10,918€58,931▲

Profit (loss) brought forward from the previous period14P-€33,670€10,918▲

Transfer to equity691/2-€55,000

To other reserves6921-€55,000

The notes to these accounts (3 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line	2021	2022	2023	2024	2025	Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€51,988	€80,135	€78,928	€60,507	€55,058	▼ 9.0%
Other operating charges640/8	€3,563	€3,683	€6,115	€4,260	€4,439	▲ 4.2%
Gross operating margin9900	€79,522	€71,511	€66,889	€116,671	€126,188	▲ 8.2%
Operating profit (loss)9901	€23,971	-€12,307	-€18,155	€51,905	€66,691	▲ 28.5%
Financial income75/76B	€2,488	-	-	-	€1,083	-
Recurring financial income75	€2,488	-	-	-	€1,083	-
Financial charges65/66B	€859	€1,551	€3,355	€3,677	€4,012	▲ 9.1%
Recurring financial charges65	€859	€1,551	€3,355	€3,677	€4,012	▲ 9.1%
Profit (loss) for the period before taxes9903	€25,599	-€13,857	-€21,510	€48,228	€63,762	▲ 32.2%
Income taxes67/77	€4,054	-	-	€3,639	€15,749	▲ 333%
Profit (loss) for the period9904	€21,546	-€13,857	-€21,510	€44,588	€48,013	▲ 7.7%
Profit (loss) for the period to be appropriated9905	€21,546	-€13,857	-€21,510	€44,588	€48,013	▲ 7.7%

Line	2021	2022	2023	2024	2025	Change
Assets
Total assets20/58	€608,263	€644,751	€625,586	€695,236	€752,677	▲ 8.3%
Fixed assets21/28	€580,316	€537,967	€459,038	€398,531	€343,474	▼ 13.8%
Tangible fixed assets22/27	€580,316	€537,967	€459,038	€398,531	€343,474	▼ 13.8%
Land and buildings22	€573,350	€532,282	€454,635	€394,768	€340,350	▼ 13.8%
Furniture and vehicles24	€6,966	€5,685	€4,403	€3,763	€3,124	▼ 17.0%
Current assets29/58	€27,947	€106,784	€166,548	€296,705	€409,204	▲ 37.9%
Amounts receivable within one year40/41	€6,396	€5,000	€10,000	€6,361	-	-
Other amounts receivable41	€6,396	€5,000	€10,000	€6,361	-	-
Cash at bank and in hand54/58	€21,551	€101,784	€156,548	€290,344	€409,204	▲ 40.9%
Equity and liabilities
Total equity and liabilities10/49	€608,263	€644,751	€625,586	€695,236	€752,677	▲ 8.3%
Equity10/15	€543,702	€529,845	€508,334	€552,923	€600,936	▲ 8.7%
Contributions10/11	€483,392	€483,392	€483,392	€483,392	€483,392	=
Capital10	€483,392	€483,392	€483,392	€483,392	€483,392	=
Issued capital100	€483,392	€483,392	€483,392	€483,392	€483,392	=
Reserves13	€58,612	€58,612	€58,612	€58,612	€113,612	▲ 93.8%
Non-distributable reserves130/1	€38,612	€38,612	€38,612	€38,612	€38,612	=
Legal reserve130	€38,612	€38,612	€38,612	€38,612	€38,612	=
Distributable reserves133	€20,000	€20,000	€20,000	€20,000	€75,000	▲ 275%
Profit (loss) carried forward14	€1,697	-€12,160	-€33,670	€10,918	€3,931	▼ 64.0%
Amounts payable17/49	€64,561	€114,906	€117,252	€142,313	€151,742	▲ 6.6%
Amounts payable within one year42/48	€64,561	€114,906	€117,252	€142,313	€151,742	▲ 6.6%
Current portion of amounts payable after more than one year42	€10,421	-	-	-	-	-
Trade debts44	-	€800	-	€442	-	-
Suppliers440/4	-	€800	-	€442	-	-
Taxes, remuneration and social security45	€34,479	€253	€75	€6,144	€12,034	▲ 95.9%
Taxes450/3	€34,479	€253	€75	€6,144	€12,034	▲ 95.9%
Other amounts payable47/48	€19,661	€113,853	€117,177	€135,727	€139,707	▲ 2.9%

Line	2021	2022	2023	2024	2025	Change
Profit (loss) for the period9904	€21,546	-€13,857	-€21,510	€44,588	€48,013	▲ 7.7%
+ Depreciation and write-downs630	€51,988	€80,135	€78,928	€60,507	€55,058	▼ 9.0%
Operating cash flow (approximation)	€73,534	€66,277	€57,418	€105,095	€103,071	▼ 1.9%
Investment in fixed assets (approximation)	-	-€37,785	€0	€0	€0	-
Change in cash	-	€80,233	€54,764	€133,796	€118,860	▼ 11.2%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Timeline · acts, filings and financial milestones

All 15Financial 3Gazette 2Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

07-07

State Gazette act Restructuring · End & cessation

Merger · Accounting effect · Shareholding10 facts ▸

General meeting, 25-06-2026
Merger, jaarrekening over te nemen vennootschap per 2025-12-31T24:00:00, goedkeuring fusievoorstel
Other statement, verklaring geen belangrijke wijziging, belangrijke wijziging in activa en passiva van vermogen
Accounting effect, 01-01-2026
Other statement, geen afsluitende balans, afsluitende balans minder dan drie maanden voor datum fusievoorstel
Other statement, voorwaarden overdracht vermeld in notulen algemene vergadering overnemende vennootschap
Shareholding, overnemende vennootschap, artikel 12:57 Wetboek van vennootschappen en verenigingen
Other statement, bestuurder, officer discharge
Power of attorney, VANDEN DAEL Damien
Other statement, publicatienummer, 26086585

17-06

State Gazette act Reappointments: NVELDIAUR, MatthieuVANDENDAEL and SergeDENDAS

Permanent representative: DamienVANDENDAEL8 facts ▸

General meeting, 22-05-2026
Director reappointment, NVELDIAUR (director)
Director reappointment, MatthieuVANDENDAEL (director)
Director reappointment, SergeDENDAS (director)
Permanent representative, DamienVANDENDAEL (vastevertegenwoordiger)
Board meeting, 22-05-2026
Director reappointment, NVELDIAUR (afgevaardigdbestuurder)
Other statement, last page Luik B form headings

02-06

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

31-12

Financial Highest result since 2018net €48,013 ▲7.7%

Operating result €66,691, net result €48,013, both a record.

05-06

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

31-12

Financial Back to profitnet €44,588

Net result €44,588 after 2 loss-making years.

03-06

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

31-12

Financial Weakest financial yearnet -€21,510

Net result drops to -€21,510, the lowest in the series.

05-06

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

21-06

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

17-06

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

18-06

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

Show earlier events

2019

13-06

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

2018

06-06

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2017

20-06

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

2 of 6 acts read

About the unread acts

Of the 6 Belgian State Gazette acts we know for this company, 2 have been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors

under verification, last change in 2026

This board is reconstructed from a single act (26077243). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.

Board 3

MatthieuVANDENDAEL

Director · since 22-05-2026

Current

NVELDIAUR

Director · since 22-05-2026 · Legal entity · perm. rep.: DamienVANDENDAEL

Current

SergeDENDAS

Director · since 22-05-2026

Current

Day-to-day management 1

NVELDIAUR

Afgevaardigdbestuurder · since 22-05-2026 · Legal entity · perm. rep.: DamienVANDENDAEL

Current

Permanent representatives 1

DamienVANDENDAEL

Permanent representative · since 22-05-2026 · for NVELDIAUR

Current

Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ. See the function holders in the CBE →

Not every act has been read: a resignation may be missing here

4 of this company's 6 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.

Location & real-estate footprint

Registered office, Wezembeek-Oppem

exact location from the address register On OpenStreetMap

Ground area

193 m²

Building footprint

193 m²

Volume, LiDAR

1,855 m³

Parcel 22302C0214/00N000, Flanders · tallest building 19.7 m, ±4 floors. Linked by address, not a title deed.

2 companies at this address See who is registered here

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
22302C0214/00N000	Flanders	193 m²	1 · 193 m²	19.7 m · 4 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.

Mandate history

3 people since 2026, 3 in office

All 3 In office 3

Board
Day-to-day management
began earlier

Mandates per person, with start and end dates
Name	Functions and periods
MatthieuVANDENDAEL	Director, already before 22-05-2026 to date
NVELDIAUR	Director, already before 22-05-2026 to date Afgevaardigdbestuurder, already before 22-05-2026 to date
SergeDENDAS	Director, already before 22-05-2026 to date

See the board, name and seat on a given date →

Structure & network

Owners and holdings

1 owner

Chain of control

ELDIAUR 100%
INCAVU

Highest known parent: ELDIAUR. The sources do not say who stands above it.

Owners 1

ELDIAURparent

Sourceaccounts ELDIAUR 2025

100%

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

3 current directors

Depth

The network starts from this company’s directors. Other companies they run appear here as nodes.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, scroll to zoom.

Similar companies · same sector, comparable size

Schoten · Eq €600,834

DENVER INDUSTRIES HOLDING

BE 0456.921.567

Brasschaat · Eq €601,041

AHO Consulting

BE 0536.430.784

Brussel · Eq €601,168

PUBLIWEST

BE 0445.811.406

Nieuwpoort · Eq €601,308

Of 82,646 companies in sector 70200 we hold annual accounts for 52,627. 33,089 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

Founded24-07-1992

Fiscal year end31-12

Activities, NACEBEL 2025

70200Business and other management consultancy

21100Manufacture of basic pharmaceutical products and pharmaceutical preparations

24410Manufacture of basic metals

E-invoicing

Reachable via Peppol

Peppol ID 0208:0447974407

Also 9925:BE0447974407

Registered 10-12-2025

The company is no longer active; its Peppol card can remain until its access point withdraws it.

Scores and ratios are computed by Checked and are not a credit decision.