KAVIN (0445.233.265): annual accounts, directors and company register

KAVIN

Ghent ·KBO/BCE: BE 0445.233.265

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%

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%

Company	Total assets	Gross margin	Solvency	Staff
KAVIN Ghent	€3.0m	€273,735	97.2%	1
FOR EVER Nazareth	€3.2m	€209,034	40.9%	1
EUROPEAN INVESTMENT AND MANAGEMENT COMPANY Haaltert	€2.3m	€167,280	89.8%	1
IMMO - DUBOIS Menen	€2.2m	€141,708	13.7%	1
PATIO Maarkedal	€2.7m	€394,178	33.6%	0.5
STEVINVEST Kalmthout	€3.7m	€335,169	58.3%	1.7
MAENE-VANWALLEGHEM IMMO Jabbeke	€5.3m	€332,971	6.1%	0.8

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Balance sheet: assets
Total assets`20/58`	3.0m	3.0m	2.8m	2.7m	2.7m	2.7m	2.7m	2.7m	2.6m	2.5m	2.4m	2.5m	2.5m	2.5m	2.3m	2.2m	2.0m	1.8m	1.8m	1.9m
Fixed assets`21/28`	2.0m	2.1m	2.4m	2.1m	2.0m	2.0m	2.0m	2.0m	1.8m	1.9m	1.9m	1.5m	1.4m	1.5m	1.6m	1.6m	1.6m	1.7m	1.8m	1.8m
Tangible fixed assets`22/27`	2.0m	2.1m	2.4m	2.1m	2.0m	2.0m	2.0m	2.0m	1.8m	1.9m	1.9m	1.5m	1.4m	1.5m	1.6m	1.6m	1.6m	1.7m	1.8m	1.8m
Land and buildings`22`	2.0m	2.1m	2.4m	2.1m	2.0m	2.0m	2.0m	2.0m	1.8m	1.8m	1.9m	1.5m	1.4m	1.5m	1.6m	1.6m	1.6m	1.7m	1.8m	1.8m
Furniture and vehicles`24`	-	-	-	-	-	0	5,116	10,231	15,347	20,856	589	786	-	842	-	1,691	3,382	5,073	6,764	-
Current assets`29/58`	993,381	851,153	456,359	600,548	654,718	634,825	674,771	705,322	801,376	591,854	511,543	954,573	1.1m	985,696	776,429	625,708	379,791	130,046	44,028	19,142
Amounts receivable within one year`40/41`	118,950	95,872	87,597	98,020	82,981	452,714	96,970	79,908	126,055	89,426	81,620	746,364	1.0m	871,842	719,066	592,981	308,384	125,868	26,766	12,225
Trade receivables`40`	114,683	93,707	87,597	94,711	79,776	40,730	90,585	77,240	124,116	89,316	77,820	87,063	101,909	86,578	114,805	112,899	108,355	117,379	26,711	12,187
Other amounts receivable`41`	4,267	2,165	0	3,309	3,205	411,984	6,385	2,668	1,938	110	3,800	659,301	915,264	785,264	604,261	480,082	200,029	8,489	55	38
Cash at bank and in hand`54/58`	874,431	755,281	368,762	502,287	570,541	181,408	577,071	624,035	671,231	488,737	429,353	207,645	37,218	113,436	56,891	23,814	61,760	3,789	8,738	6,312
Deferred charges and accrued income`490/1`	-	-	0	242	1,197	704	730	1,379	4,091	13,692	571	564	13,734	418	471	8,912	9,647	390	8,524	605
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	3.0m	3.0m	2.8m	2.7m	2.7m	2.7m	2.7m	2.7m	2.6m	2.5m	2.4m	2.5m	2.5m	2.5m	2.3m	2.2m	2.0m	1.8m	1.8m	1.9m
Equity`10/15`	2.9m	2.9m	2.7m	2.7m	2.7m	2.6m	2.6m	2.6m	2.6m	2.4m	2.4m	2.4m	2.4m	2.3m	2.1m	1.9m	1.7m	1.5m	1.3m	1.4m
Contributions`10/11`	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m
Capital`10`	1.7m	1.7m	1.7m	1.7m	1.7m	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issued capital`100`	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m	1.7m
Reserves`13`	183,349	186,489	56,966	54,366	52,866	51,366	50,866	49,866	46,866	38,866	38,566	38,566	43,357	46,451	44,242	42,033	39,224	47,016	54,807	62,599
Non-distributable reserves`130/1`	61,400	57,300	56,900	54,300	52,800	51,300	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	61,400	57,300	56,900	54,300	52,800	51,300	50,800	49,800	46,800	38,800	38,500	38,500	35,500	30,804	20,804	10,804	204	204	203	204
Tax-exempt reserves`132`	121,883	129,122	-	-	-	-	-	-	-	-	-	-	7,790	15,581	23,373	31,164	38,955	46,747	54,538	62,329
Distributable reserves`133`	66	66	66	66	66	66	66	66	66	66	66	66	66	66	66	66	66	66	66	66
Profit (loss) carried forward`14`	1.1m	989,280	981,864	933,769	913,957	888,989	886,775	874,700	827,234	694,001	688,511	698,796	643,785	559,589	384,620	200,884	-16,201	-241,545	-408,529	-318,270
Provisions and deferred taxes`16`	40,628	43,041	-	-	-	-	-	-	-	-	-	-	4,195	8,390	12,586	16,781	20,976	25,171	29,366	33,562
Deferred taxes`168`	40,628	43,041	-	-	-	-	-	-	-	-	-	-	4,195	8,390	12,586	16,781	20,976	25,171	29,366	33,562
Amounts payable`17/49`	45,601	34,453	94,918	27,834	36,799	41,319	25,053	115,516	65,153	17,790	18,775	41,864	78,331	144,608	186,465	221,624	266,407	313,168	470,085	385,019
Amounts payable after more than one year`17`	-	-	-	-	-	-	-	-	-	-	-	-	-	47,100	94,200	141,300	188,400	235,500	282,600	329,700
Financial debts`170/4`	-	-	-	-	-	-	-	-	-	-	-	-	-	47,100	94,200	141,300	188,400	-	282,600	329,700
Advances received on contracts in progress`176`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	235,500	-	-
Amounts payable within one year`42/48`	45,601	34,453	93,358	26,429	36,799	41,319	25,053	115,340	64,977	17,618	18,026	41,116	76,065	96,941	89,914	78,434	77,823	76,812	187,271	55,319
Current portion of amounts payable after more than one year`42`	-	-	-	-	-	-	-	-	-	-	-	-	47,100	47,100	58,875	47,100	47,100	47,100	47,100	47,100
Trade debts`44`	3,994	5,059	63,631	1,375	11,528	15,421	9,910	71,103	10,074	2,065	6,169	20,053	4,067	9,081	1,081	1,679	3,699	1,919	5,127	340
Suppliers`440/4`	3,994	5,059	63,631	1,375	11,528	15,421	9,910	71,103	10,074	2,065	6,169	20,053	4,067	9,081	1,081	1,679	3,699	1,919	5,127	340
Taxes, remuneration and social security`45`	31,116	29,395	29,727	25,053	25,271	25,897	15,143	44,238	54,903	15,553	11,857	21,063	24,898	40,759	29,958	29,656	27,024	27,793	22,044	7,879
Taxes`450/3`	19,906	18,819	19,268	16,520	13,699	15,820	4,853	35,629	45,501	7,928	3,485	12,459	16,771	17,896	12,288	12,036	7,467	14,859	9,803	2,275
Remuneration and social security`454/9`	11,210	10,576	10,459	8,533	11,572	10,077	10,291	8,608	9,402	7,625	8,372	8,605	8,127	22,863	17,670	17,620	19,557	12,934	12,241	5,604
Other amounts payable`47/48`	10,491	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	113,000	-
Accrued charges and deferred income`492/3`	-	0	1,560	1,406	-	-	0	176	176	173	749	748	2,266	567	2,351	1,890	184	856	214	-
Income statement
Non-recurring operating income`76A`	0	186,810	5,100	-	-	-	-	-	89,090	-	5,553	-	2,458	-	-	-	-	-	11,450	-
Gross operating margin`9900`	273,735	425,450	242,316	197,523	220,220	196,531	197,298	235,145	338,678	240,375	224,720	239,415	310,569	471,112	443,421	429,148	431,994	420,944	151,291	107,917
Remuneration, social security and pensions`62`	78,785	76,061	70,400	62,384	62,409	57,218	60,817	46,336	57,432	57,152	57,947	62,442	143,303	145,931	126,001	114,881	113,285	122,471	45,445	36,916
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	86,299	150,973	89,689	92,624	109,392	120,905	102,946	102,189	85,016	158,024	171,870	125,261	70,957	79,195	96,663	87,431	86,188	87,937	92,767	85,789
Other operating charges`640/8`	13,442	14,753	13,722	12,622	12,438	13,658	13,764	13,426	12,979	16,322	12,896	12,225	10,940	10,425	11,277	11,779	9,422	9,174	105,197	6,538
Operating profit (loss)`9901`	95,209	183,663	68,506	29,892	35,981	4,749	19,771	73,194	183,250	8,877	-17,994	39,487	85,370	235,561	209,480	215,057	223,099	201,362	-92,118	-21,326
Financial income`75/76B`	4,417	-	-	0	745	230	-	-	-	13	2,443	8,362	7,764	7,518	10,547	10,179	1,823	18	39	25
Recurring financial income`75`	4,417	-	-	0	745	230	-	-	-	13	2,443	8,362	7,764	7,518	10,547	10,179	1,823	18	39	25
Financial charges`65/66B`	455	322	379	407	962	429	503	389	288	588	215	1,525	3,685	5,361	7,524	9,537	11,565	17,866	21,616	17,510
Recurring financial charges`65`	455	322	379	407	962	429	503	389	288	588	215	1,525	3,685	5,361	7,524	9,537	11,565	17,866	21,616	17,510
Profit (loss) for the period before taxes`9903`	99,171	183,340	68,127	29,486	35,764	4,550	19,269	72,805	182,962	8,302	-10,213	46,325	91,907	237,719	212,503	215,699	213,357	183,514	-102,245	-38,811
Transfer from deferred taxes`780`	2,413	3,662	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer to deferred taxes`680`	0	46,703	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes`67/77`	27,898	3,362	17,431	8,174	9,295	1,837	6,193	22,339	41,730	2,512	72	299	15,000	64,736	30,754	-	-	28,516	-	-
Profit (loss) for the period`9904`	73,686	136,938	50,696	21,312	26,468	2,713	13,076	50,466	141,233	5,790	-10,285	50,221	81,102	177,178	185,945	219,894	217,553	159,193	-98,050	-34,616
Transfer from tax-exempt reserves`789`	7,239	10,985	-	-	-	-	-	-	-	-	-	7,790	7,791	7,791	7,791	7,791	7,792	7,791	7,791	7,791
Transfer to tax-exempt reserves`689`	0	140,108	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Profit (loss) for the period to be appropriated`9905`	80,925	7,816	50,696	21,312	26,468	2,713	13,076	50,466	141,233	5,790	-10,285	58,011	88,893	184,969	193,736	227,685	225,344	166,984	-90,259	-26,825
Appropriation of the result
Profit (loss) to be appropriated`9906`	1.1m	989,680	984,464	935,269	915,457	889,489	887,775	877,700	835,234	694,301	688,511	701,796	648,482	569,589	394,620	211,484	-16,201	-241,545	-408,529	-318,270
Profit (loss) brought forward from the previous period`14P`	989,280	981,864	933,769	913,957	888,989	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer to equity`691/2`	4,100	400	2,600	1,500	1,500	500	1,000	3,000	8,000	300	-	3,000	4,696	10,000	10,000	10,600	-	-	-	-
To the legal reserve`6920`	4,100	400	2,600	1,500	1,500	500	1,000	3,000	8,000	300	-	3,000	4,696	10,000	10,000	10,600	-	-	-	-
Social balance sheet
Average staff (FTE)`9087`	1	1	1	1	1	1	1	1	1	1	1	1	2	2	2	2	2	1.6	1	1
Hours worked`1013`	1,657	1,760	1,663	1,769	1,755	1,737	1,596	1,215	1,828	1,582	1,582	1,603	3,460	3,460	3,400	3,480	3,491	2,949	1,265	1,733
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Financial year	Type	Filed	Reference	Document
31-12-2025	full format	15-06-2026	2026-00169020	PDF
31-12-2024	abbreviated format	18-06-2025	2025-00159752	PDF
31-12-2023	abbreviated format	28-06-2024	2024-00208805	PDF
31-12-2022	abbreviated format	28-06-2023	2023-00183948	PDF
31-12-2021	abbreviated format	23-06-2022	2022-20128376	PDF
31-12-2020	abbreviated format	25-06-2021	2021-26100202	PDF
31-12-2019	abbreviated format	24-06-2020	2020-20900028	PDF
31-12-2018	abbreviated format	02-09-2019	2019-63000528	PDF
31-12-2017	abbreviated format	11-07-2018	2018-31800142	PDF
31-12-2016	abbreviated format	27-06-2017	2017-23100171	PDF
31-12-2015	abbreviated format	16-06-2016	2016-18500193	PDF
31-12-2014	abbreviated format	29-06-2015	2015-23200441	PDF
31-12-2013	abbreviated format	09-07-2014	2014-28300561	PDF
31-12-2012	abbreviated format	25-07-2013	2013-37100228	PDF
31-12-2011	abbreviated format	09-07-2012	2012-28000384	PDF
31-12-2010	abbreviated format	01-07-2011	2011-24700272	PDF
31-12-2009	abbreviated format	20-07-2010	2010-32500401	PDF
31-12-2008	abbreviated format	22-07-2009	2009-45900081	PDF
31-12-2007	abbreviated format	11-07-2008	2008-40400113	PDF
31-12-2006	abbreviated format	24-08-2007	2007-60900078	PDF
31-12-2005	abbreviated format	30-06-2006	2006-38104256	PDF
31-12-2004	abbreviated format	17-06-2005	2005-28301579	PDF
31-12-2003	abbreviated format	02-07-2004	2004-39201592	PDF
31-12-2002	abbreviated format	27-06-2003	2003-33800481	PDF
31-12-2001	abbreviated format	12-07-2002	2002-37504801	PDF
31-12-2000	abbreviated format	13-07-2001	2001-36800155	PDF
31-12-1999	abbreviated format	07-07-2000	2000-35500151	PDF
31-12-1998	abbreviated format	28-06-1999	1999-24200153	PDF
31-12-1997	abbreviated format	09-07-1998	1998-29903348	PDF
31-12-1996	abbreviated format	15-07-1997	1997-29904630	PDF
31-12-1995	abbreviated format	25-06-1996	1996-20905085	PDF
31-12-1994	full format	12-07-1995	1995-38604052	PDF
31-12-1993	full format	26-07-1994	1994-32303382	PDF
31-12-1992	full format	07-07-1993	1993-23904613	PDF

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
EBITDA	181,508	334,636	158,195	122,517	145,373	125,654	122,717	175,383	268,267	166,901	153,877	164,749	156,326	314,756	306,143	302,488	309,287	289,298	649	64,463
Cash flow	159,985	287,912	140,385	113,936	135,860	123,618	116,021	152,655	226,249	163,814	161,585	175,482	152,058	256,373	282,607	307,325	303,741	247,130	-5,283	51,173
Investment in fixed assets (approximation)	26,491	7,294	351,658	159,142	111,447	179,830	56,109	299,073	20,992	82,518	581,526	248,372	-842	1,053	92,533	12,430	3,040	-0	50,700	-
Change in cash	119,150	386,519	-133,525	-68,254	389,133	-395,663	-46,964	-47,196	182,494	59,384	221,708	170,427	-76,219	56,545	33,077	-37,945	57,971	-4,949	2,426	-
Working capital	947,780	816,700	363,001	574,120	617,919	593,506	649,718	589,981	736,399	574,236	493,517	913,457	992,060	888,756	686,515	547,273	301,968	53,234	-143,243	-36,177
Solvency	97.2%	97.4%	96.7%	99.0%	98.6%	98.5%	99.1%	95.8%	97.5%	99.3%	99.2%	98.3%	96.7%	93.8%	91.4%	89.1%	85.7%	81.7%	72.9%	77.5%
Current ratio	21.78	24.70	4.89	22.72	17.79	15.36	26.93	6.12	12.33	33.59	28.38	23.22	14.04	10.17	8.64	7.98	4.88	1.69	0.24	0.35
Debt to equity	0.02	0.01	0.03	0.01	0.01	0.02	0.01	0.04	0.03	0.01	0.01	0.02	0.03	0.06	0.09	0.11	0.15	0.21	0.35	0.27
ROE	2.5%	4.8%	1.9%	0.8%	1.0%	0.1%	0.5%	1.9%	5.5%	0.2%	-0.4%	2.1%	3.4%	7.7%	8.7%	11.3%	12.6%	10.6%	-7.3%	-2.4%
ROA	2.4%	4.6%	1.8%	0.8%	1.0%	0.1%	0.5%	1.8%	5.4%	0.2%	-0.4%	2.0%	3.3%	7.2%	8.0%	10.1%	10.8%	8.6%	-5.3%	-1.9%
Interest coverage	over 100	over 100	over 100	over 100	over 100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Item	31-12-2025	31-12-2024	31-12-2023	31-12-2022	31-12-2021
Employees at the balance-sheet date	1	1	1	1	1
full-time	1	1	1	1	1
part-time	0	0	0	0	0
in full-time equivalents	1	1	1	1	1
Average over the year, in full-time equivalents	1	1	1	1	1
On a permanent contract	1	1	1	1	1
Joined	-	-	-	0	-
Left	-	-	-	0	-

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€26,491	€7,294	€351,658	€159,142	€111,447
Financial fixed assets	€0	-	-	-	-
Depreciation and write-downs of the year	€86,299	€150,973	€89,689	€92,624	€109,392

BELPARFI registered office since 14-03-1991 · founded in 1991	7.5 FTE (2025) 0443.180.330
CASA RENSON registered office since 17-11-2003 · founded in 2003 · negative equity (2025)	turnover €41,607 (2025) 0861.678.021
SOFRA-INVESTMENTS registered office since 19-03-1983 · founded in 1983	total assets €993,507 (2025) 0423.915.041
BEHEER EN BOEKHOUDING SERVICE registered office since 16-12-1983 · founded in 1983	turnover €10,122 (2025) 0425.204.943
FIDUCIAIRE BASSEVELDE registered office since 21-12-2005 · founded in 2005	total assets €3,578 (2025) 0878.166.932

04-02-2025	Granted	Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden submitted 05-12-2024 · project 2024150308	Lievegem
18-07-2023	Granted	Bouwen of herbouwen; Slopen van niet vrijstaande gebouwen of constructies submitted 16-03-2023 · project 2023035907	Lievegem
15-06-2021	Granted	Bouwen of herbouwen submitted 17-12-2020 · project 2020173379	Lievegem
01-12-2020	Granted	Bouwen of herbouwen; Slopen van niet vrijstaande gebouwen of constructies submitted 13-08-2020 · project 2020105755	Lievegem

Overview

Lifetime

Key points

Equity

Result

Turnover

Filings

At the same address

Position in the sector

Checked score

Score breakdown

Comparable companies, two years later

Credit verdict

Signals

Board and ownership

Recent changes

Comparable companies

Official details

Annual accounts 2025

Insights on KAVIN

Financials

Annual accounts 2025

Balance sheet

Change in equityin €m

Change in cashin euro

Position in the sector

Solvency97.2%

Current ratio21.78

Return on assets2.4%

Staff

Staff cost per FTE€78,785

Joined and left

Filed annual accounts

Filings

Key figures and ratios

Social balance sheet

Investments

Insights on KAVIN

Board & ownership

Board

Mandates through the years

Control

Capital

Owners through the years

Shareholders

Owners 2

Network & group

Group

Belgium 1 Year Equity Result

Europe 1 Year Equity Result

At the same address

Connections & network

Timeline

Timeline

History

Company details

Identity

Activities

Registered office and establishments

Buildings and parcels at the address

Environmental permits

Location

Parcels