KREVAN
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 25-07-2026 at the NBB all 35 filings
Turnover
€11,347▼ 15.0%
2024 · €13,344
EBIT margin
90.7%▲ 134.3pp
2024 · -43.6%
Net result
€9,585
2024 · -€7,001
Working capital
-€18,685▲ 24.0%
2022 · -€24,579
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€11,347
▼ 15.0%
2025
20182025
Operating result
€10,292
2025
20182025
Net result
€9,585
2025
middle half of the sector
20182025
EBIT margin
90.7%
▲ 134.3pp
2025
20182025
Equity
€19,965
▲ 92.3%
2025
lowest quarter of the sector
20182025
Total assets
€39,539
▲ 2.3%
2025
lowest quarter of the sector
20182025
Debt
€19,574
▼ 30.8%
2025
20182025
Working capital
-€18,685
2025
middle half of the sector
20182025
Solvency
50.5%
▲ 23.6pp
2025
middle half of the sector
20182025
Current ratio
0.05
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
24.2%
▲ 42.4pp
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€36,025-€32,060▼ 11.0%€23,756▼ 25.9%€23,783▲ 0.1%€22,176▼ 6.8%€14,476▼ 34.7%€13,344▼ 7.8%€11,347▼ 15.0%
Operating result-€32-€350-€2,101-€1,933▲ 8.0%-€7,916▼ 310%-€6,292▲ 20.5%-€5,813▲ 7.6%€10,292
Net result-€1,464--€1,438▲ 1.8%-€3,279below the sector's middle half▼ 128%-€3,139within the sector's middle half▲ 4.3%-€9,001below the sector's middle half▼ 187%-€6,922below the sector's middle half▲ 23.1%-€7,001within the sector's middle half▼ 1.1%€9,585within the sector's middle half
EBIT margin-0.1%-1.1%▲ 1.2pp-8.8%▼ 9.9pp-8.1%▲ 0.7pp-35.7%▼ 27.6pp-43.5%▼ 7.8pp-43.6%▼ 0.1pp90.7%▲ 134.3pp
Equity€41,160-€39,722▼ 3.5%€36,443below the sector's middle half▼ 8.3%€33,304below the sector's middle half▼ 8.6%€24,303below the sector's middle half▼ 27.0%€17,381below the sector's middle half▼ 28.5%€10,380below the sector's middle half▼ 40.3%€19,965below the sector's middle half▲ 92.3%
Total assets€75,828-€68,554▼ 9.6%€62,198below the sector's middle half▼ 9.3%€56,174below the sector's middle half▼ 9.7%€48,980below the sector's middle half▼ 12.8%€42,800below the sector's middle half▼ 12.6%€38,650below the sector's middle half▼ 9.7%€39,539below the sector's middle half▲ 2.3%
Debt€34,668-€28,832▼ 16.8%€25,755▼ 10.7%€22,870▼ 11.2%€24,677▲ 7.9%€25,419▲ 3.0%€28,270▲ 11.2%€19,574▼ 30.8%
Working capital-€17,353--€19,427▼ 12.0%-€23,325within the sector's middle half▼ 20.1%-€21,695within the sector's middle half▲ 7.0%-€24,579within the sector's middle half▼ 13.3%-€18,685within the sector's middle half
Solvency54.3%-57.9%▲ 3.7pp58.6%above the sector's middle half▲ 0.6pp59.3%above the sector's middle half▲ 0.7pp49.6%within the sector's middle half▼ 9.7pp40.6%within the sector's middle half▼ 9.0pp26.9%within the sector's middle half▼ 13.8pp50.5%within the sector's middle half▲ 23.6pp
Current ratio0.12-0.06▼ 0.050.04below the sector's middle half▼ 0.020.05below the sector's middle half▲ 0.010.00below the sector's middle half▼ 0.050.05below the sector's middle half
Return on assets (ROA)-1.9%--2.1%▼ 0.2pp-5.3%below the sector's middle half▼ 3.2pp-5.6%below the sector's middle half▼ 0.3pp-18.4%below the sector's middle half▼ 12.8pp-16.2%below the sector's middle half▲ 2.2pp-18.1%below the sector's middle half▼ 1.9pp24.2%above the sector's middle half▲ 42.4pp
above
within
below
The sector band is the middle half of the companies in Crop and animal production, hunting and related service activities (NACE 01). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a profit of €10,292, after a loss of €5,813 in 2024. It is the highest result since 2018.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €39,539
Fixed assets
€38,650
Current assets
€889
Equity and liabilities €39,539
Equity
€19,965 ▲ 92.3%
Debt
€19,574 ▼ 30.8%
Debt's share of the balance-sheet total falls from 73.1% to 49.5%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.98▼
2024 · 2.72
ROE
48.0%▲
2024 · -67.4%
Debt ≤ 1 year
€19,574▼
2024 · €28,270
Supplier credit
1 day▼
2024 · 5 days
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Financial fixed assets | - | - | - | €350 | - |
| Depreciation and write-downs of the year | €6,117 | €6,117 | €6,116 | €4,500 | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €36,025 | €32,060 | €23,756 | €23,783 | €22,176 | €14,476 | €13,344 | €11,347 | ▼ 15.0% |
| Non-recurring operating income76A | - | - | - | - | - | - | - | €20,000 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €16,716 | €21,014 | €12,459 | €12,382 | €18,857 | ▲ 52.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,261 | €6,261 | €6,117 | €6,117 | €6,117 | €6,116 | €4,500 | - | - |
| Other operating charges640/8 | - | - | - | €2,883 | €2,961 | €2,192 | €2,275 | €2,198 | ▼ 3.4% |
| Gross operating margin9900 | €9,322 | €10,075 | €7,986 | €7,067 | €1,162 | €2,016 | €962 | €12,490 | ▲ 13× |
| Operating profit (loss)9901 | -€32 | €350 | -€2,101 | -€1,933 | -€7,916 | -€6,292 | -€5,813 | €10,292 | - |
| Financial charges65/66B | - | - | - | €1,206 | €1,085 | €630 | €1,188 | €707 | ▼ 40.5% |
| Recurring financial charges65 | €1,432 | €1,788 | €1,178 | €1,206 | €1,085 | €630 | €1,188 | €707 | ▼ 40.5% |
| Profit (loss) for the period before taxes9903 | -€1,464 | -€1,438 | -€3,279 | -€3,139 | -€9,001 | -€6,922 | -€7,001 | €9,585 | - |
| Profit (loss) for the period9904 | -€1,464 | -€1,438 | -€3,279 | -€3,139 | -€9,001 | -€6,922 | -€7,001 | €9,585 | - |
| Profit (loss) for the period to be appropriated9905 | -€1,464 | -€1,438 | -€3,279 | -€3,139 | -€9,001 | -€6,922 | -€7,001 | €9,585 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €75,828 | €68,554 | €62,198 | €56,174 | €48,980 | €42,800 | €38,650 | €39,539 | ▲ 2.3% |
| Fixed assets21/28 | €73,528 | €67,267 | €61,150 | €55,033 | €48,916 | €42,800 | €38,650 | €38,650 | = |
| Tangible fixed assets22/27 | €73,528 | €67,267 | €61,150 | €55,033 | €48,916 | €42,800 | €38,300 | €38,300 | = |
| Land and buildings22 | - | - | - | €38,300 | €38,300 | €38,300 | €38,300 | €38,300 | = |
| Plant, machinery and equipment23 | - | - | - | €3,233 | €1,616 | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €13,500 | - | €4,500 | - | - | - |
| Leasing and similar rights25 | - | - | - | - | €9,000 | - | - | - | - |
| Financial fixed assets28 | - | - | - | - | - | - | €350 | €350 | = |
| Current assets29/58 | €2,300 | €1,287 | €1,048 | €1,141 | €64 | - | - | €889 | - |
| Stocks and contracts in progress3 | €455 | - | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €942 | €350 | €74 | €129 | €64 | - | - | - | - |
| Other amounts receivable41 | - | - | - | €129 | €64 | - | - | - | - |
| Cash at bank and in hand54/58 | - | - | - | - | - | - | - | €889 | - |
| Deferred charges and accrued income490/1 | - | - | - | €1,012 | - | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €75,828 | €68,554 | €62,198 | €56,174 | €48,980 | €42,800 | €38,650 | €39,539 | ▲ 2.3% |
| Equity10/15 | €41,160 | €39,722 | €36,443 | €33,304 | €24,303 | €17,381 | €10,380 | €19,965 | ▲ 92.3% |
| Contributions10/11 | €69,410 | €69,410 | €69,410 | €69,410 | €69,410 | €69,410 | €69,410 | €69,410 | = |
| Profit (loss) carried forward14 | -€28,250 | -€29,688 | -€32,967 | -€36,106 | -€45,107 | -€52,029 | -€59,030 | -€49,445 | ▲ 16.2% |
| Amounts payable17/49 | €34,668 | €28,832 | €25,755 | €22,870 | €24,677 | €25,419 | €28,270 | €19,574 | ▼ 30.8% |
| Amounts payable after more than one year17 | €14,988 | €8,084 | €1,348 | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €19,653 | €20,714 | €24,373 | €22,836 | €24,643 | €25,419 | €28,270 | €19,574 | ▼ 30.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €1,170 | - | - | - | - | - |
| Trade debts44 | €3,680 | €260 | €2,285 | €651 | €1,117 | €343 | €154 | €59 | ▼ 61.7% |
| Suppliers440/4 | - | - | - | €651 | €1,117 | €343 | €154 | €59 | ▼ 61.7% |
| Taxes, remuneration and social security45 | - | - | - | - | - | €88 | €660 | €1,167 | ▲ 76.8% |
| Taxes450/3 | - | - | - | - | - | €88 | €660 | €1,167 | ▲ 76.8% |
| Other amounts payable47/48 | - | - | - | €21,015 | €23,526 | €24,988 | €27,456 | €18,348 | ▼ 33.2% |
| Accrued charges and deferred income492/3 | - | - | - | €34 | €34 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,464 | -€1,438 | -€3,279 | -€3,139 | -€9,001 | -€6,922 | -€7,001 | €9,585 | - |
| + Depreciation and write-downs630 | €6,261 | €6,261 | €6,117 | €6,117 | €6,117 | €6,116 | €4,500 | - | - |
| Operating cash flow (approximation) | €4,797 | €4,823 | €2,838 | €2,978 | -€2,884 | -€806 | -€2,501 | €9,585 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | -€350 | €0 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 31,368 companies had the same profile as KREVAN has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of KREVAN 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.
| 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 31,368 companies, not a prediction for KREVAN. 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.
Latest 10 of 35 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 25-07-2026 | 2026-00337641 | |
| 31-12-2024 | micro format | 31-07-2025 | 2025-00344533 | |
| 31-12-2023 | abbreviated format | 28-07-2024 | 2024-00298602 | |
| 31-12-2022 | abbreviated format | 27-07-2023 | 2023-00288646 | |
| 31-12-2021 | abbreviated format | 25-07-2022 | 2022-20226530 | |
| 31-12-2020 | abbreviated format | 27-07-2021 | 2021-41200363 | |
| 31-12-2019 | abbreviated format | 29-07-2020 | 2020-36200416 | |
| 31-12-2018 | micro format | 24-07-2019 | 2019-37600276 | |
| 31-12-2017 | micro format | 30-07-2018 | 2018-40700077 | |
| 31-12-2016 | micro format | 09-07-2017 | 2017-29600328 |