MODEVA
ActiveSummary
MODEVA has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€2.1m) and a net result of -€690,505. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 537 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.24 against 0.53 in 2024; short-term debt: 409.9% and cash: 39% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 87
Relative position
BE, all sectors
reference
Residential care activities (NACE 87)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Age of the figures
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€2.1m
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 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
43 d early
2023
34 d early
2022
23 d late
2021
31 d late
2020
30 d late
2019
57 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 11 days before the deadline; the sector median for financial year 2024 is 27 days before the deadline, and 24% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Subsidy mirror Which other companies belong to the same group?ALDEA GROUP · 15 companies
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€690,505▼ 13.9%
2024 · -€606,413
Working capital
-€108,743▲ 50.0%
2024 · -€217,680
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€68,079▲ 21.0%-€675,852▼ 893%-€612,855▲ 9.3%-€559,619▲ 8.7%-€629,041▼ 12.4%
Net result-€70,003▼ 2.9%-€649,872▼ 828%-€624,644▲ 3.9%-€606,413▲ 2.9%-€690,505▼ 13.9%
Equity€505,504▼ 12.2%-€144,368-€769,012▼ 433%-€1.4m▼ 78.9%-€2.1m▼ 50.2%
Total assets€1.2m▲ 18.4%€562,933▼ 52.9%€592,027▲ 5.2%€263,765▼ 55.4%€35,093▼ 86.7%
Debt€637,217▲ 67.1%€655,301▲ 2.8%€1.3m▲ 99.8%€1.6m▲ 21.2%€2.1m▲ 32.4%
Working capital-€27,994-€136,592▼ 388%-€672,295▼ 392%-€217,680▲ 67.6%-€108,743▲ 50.0%
Staff (FTE)37.9▲ 17.7%44.6▲ 17.7%46.3▲ 3.8%36.6▼ 21.0%7.4▼ 79.8%
Why a figure moved sharply
- 2025 Staff (FTE) -80% on 2024. The accounts now follow the full schema, last year the abbreviated schema.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €629,041 in 2025 against €559,619 in 2024; the loss grows.
Key figures and ratios
EBITDA
-€608,819▼
2024 · -€529,643
Cash flow
-€670,284▼
2024 · -€576,438
Current ratio
0.24▼
2024 · 0.53
Debt to equity
-1.02▲
2024 · -1.15
Interest coverage
-9.90▲
2024 · -11.32
Debt ≤ 1 year
€143,836▼
2024 · €461,224
Debt > 1 year
€1.9m▲
2024 · €1.1m
Staff costs
€661,255▼
2024 · €2.2m
A ratio outside any meaningful range has been withheld (balance sheet total €35,093, equity -€2.1m).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,640 companies that looked in July 2024 the way this one looks now, 4.1% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
4.1%
went bankrupt
9.9%
stopped otherwise
84%
still going
A further 2.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,640 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €1.8m | €2.5m | €3.0m | €2.2m | €661,255 | ▼ 70.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,086 | €33,750 | €36,632 | €29,975 | €20,222 | ▼ 32.5% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | -€52,000 | - |
| Other operating charges640/8 | €182,251 | €136,556 | €213,647 | €173,206 | €1,292 | ▼ 99.3% |
| Non-recurring operating charges66A | - | €50 | - | - | - | - |
| Gross operating margin9900 | €2.0m | €2.0m | €2.6m | €1.9m | €1,727 | ▼ 99.9% |
| Operating profit (loss)9901 | -€68,079 | -€675,852 | -€612,855 | -€559,619 | -€629,041 | ▼ 12.4% |
| Financial income75/76B | €43,427 | €27,743 | €50 | €0 | €35 | - |
| Recurring financial income75 | €43,427 | €27,743 | €50 | €0 | €35 | - |
| Financial charges65/66B | €3,348 | €1,763 | €11,838 | €46,795 | €61,499 | ▲ 31.4% |
| Recurring financial charges65 | €3,348 | €1,763 | €11,838 | €46,795 | €61,499 | ▲ 31.4% |
| Profit (loss) for the period before taxes9903 | -€28,001 | -€649,872 | -€624,644 | -€606,413 | -€690,505 | ▼ 13.9% |
| Income taxes67/77 | €42,002 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€70,003 | -€649,872 | -€624,644 | -€606,413 | -€690,505 | ▼ 13.9% |
| Profit (loss) for the period to be appropriated9905 | -€70,003 | -€649,872 | -€624,644 | -€606,413 | -€690,505 | ▼ 13.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €562,933 | €592,027 | €263,765 | €35,093 | ▼ 86.7% |
| Fixed assets21/28 | €593,680 | €88,069 | €56,929 | €20,222 | €0 | ▼ 100% |
| Intangible fixed assets21 | €16,360 | €9,401 | €2,442 | €0 | - | - |
| Tangible fixed assets22/27 | €67,387 | €74,622 | €50,441 | €20,222 | €0 | ▼ 100% |
| Land and buildings22 | €7,137 | €6,324 | €5,511 | €4,698 | €0 | ▼ 100% |
| Plant, machinery and equipment23 | €54,764 | €51,102 | €35,129 | €12,247 | €0 | ▼ 100% |
| Furniture and vehicles24 | €5,485 | €17,196 | €9,801 | €3,276 | €0 | ▼ 100% |
| Financial fixed assets28 | €509,933 | €4,046 | €4,046 | €0 | - | - |
| Current assets29/58 | €601,041 | €474,863 | €535,098 | €243,543 | €35,093 | ▼ 85.6% |
| Amounts receivable within one year40/41 | €384,994 | €312,496 | €388,260 | €150,346 | €21,396 | ▼ 85.8% |
| Trade receivables40 | €384,982 | €312,496 | €388,260 | €150,346 | €878 | ▼ 99.4% |
| Other amounts receivable41 | €12 | - | - | - | €20,517 | - |
| Cash at bank and in hand54/58 | €29,819 | €102,616 | €108,509 | €71,923 | €13,698 | ▼ 81.0% |
| Deferred charges and accrued income490/1 | €186,228 | €59,750 | €38,329 | €21,274 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €562,933 | €592,027 | €263,765 | €35,093 | ▼ 86.7% |
| Equity10/15 | €505,504 | -€144,368 | -€769,012 | -€1.4m | -€2.1m | ▼ 50.2% |
| Contributions10/11 | €562,000 | €562,000 | €562,000 | €562,000 | €562,000 | = |
| Capital10 | €562,000 | €562,000 | €562,000 | €562,000 | €562,000 | = |
| Issued capital100 | €562,000 | €562,000 | €562,000 | €562,000 | €562,000 | = |
| Reserves13 | €11,281 | €11,281 | €11,281 | €11,281 | €11,281 | = |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | €5,081 | €5,081 | €5,081 | €5,081 | €5,081 | = |
| Profit (loss) carried forward14 | -€67,776 | -€717,649 | -€1.3m | -€1.9m | -€2.6m | ▼ 35.4% |
| Provisions and deferred taxes16 | €52,000 | €52,000 | €52,000 | €52,000 | €0 | ▼ 100% |
| Provisions for liabilities and charges160/5 | €52,000 | €52,000 | €52,000 | €52,000 | €0 | ▼ 100% |
| Major repairs and maintenance162 | €52,000 | €52,000 | €52,000 | €52,000 | €0 | ▼ 100% |
| Amounts payable17/49 | €637,217 | €655,301 | €1.3m | €1.6m | €2.1m | ▲ 32.4% |
| Amounts payable after more than one year17 | - | - | - | €1.1m | €1.9m | ▲ 72.7% |
| Financial debts170/4 | - | - | - | €1.1m | €1.9m | ▲ 72.7% |
| Amounts payable within one year42/48 | €629,035 | €611,455 | €1.2m | €461,224 | €143,836 | ▼ 68.8% |
| Financial debts43 | - | €111,613 | €118,526 | €142,221 | €0 | ▼ 100% |
| Credit institutions430/8 | - | €111,613 | €118,526 | €142,221 | €0 | ▼ 100% |
| Trade debts44 | €366,890 | €110,974 | €115,883 | €42,858 | €4,096 | ▼ 90.4% |
| Suppliers440/4 | €366,890 | €110,974 | €115,883 | €42,858 | €4,096 | ▼ 90.4% |
| Taxes, remuneration and social security45 | €180,229 | €312,039 | €409,570 | €229,558 | €15,562 | ▼ 93.2% |
| Taxes450/3 | €963 | €31,304 | €71,048 | €7,224 | €239 | ▼ 96.7% |
| Remuneration and social security454/9 | €179,266 | €280,736 | €338,522 | €222,335 | €15,323 | ▼ 93.1% |
| Other amounts payable47/48 | €81,916 | €76,829 | €563,414 | €46,586 | €124,178 | ▲ 167% |
| Accrued charges and deferred income492/3 | €8,181 | €43,845 | €101,646 | €25,967 | €57,187 | ▲ 120% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€70,003 | -€649,872 | -€624,644 | -€606,413 | -€690,505 | ▼ 13.9% |
| + Depreciation and write-downs630 | €16,086 | €33,750 | €36,632 | €29,975 | €20,222 | ▼ 32.5% |
| Operating cash flow (approximation) | -€53,916 | -€616,123 | -€588,012 | -€576,438 | -€670,284 | ▼ 16.3% |
| Investment in fixed assets (approximation) | - | €471,860 | -€5,491 | €6,732 | €0 | ▼ 100% |
| Change in cash | - | €72,797 | €5,893 | -€36,587 | -€58,225 | ▼ 59.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet -€690,505
Net result drops to -€690,505, the lowest in the series.
18-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
23-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 23 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
31-12
Financial
Equity above €500,000Eq €575,507 ▲301%
Equity rises from €143,552 to €575,507.
04-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-09
Financial
Highest result since 2018net €59,271 ▲1,613%
Operating result €76,997, net result €59,271, both a record.
30-09
Financial
Equity above €100,000Eq €143,552 ▲70.3%
2 profitable years in a row build equity to €143,552.
30-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Show earlier events
2018
03-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
26-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2015
15-01
State Gazette act
General meeting · Member resignation
Director resignation · Member admission
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
11 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Merelbeke-Melle · 1 establishment unit since 1994
Ground area
3,987 m²
Building footprint
1,801 m²
Volume, LiDAR
32,784 m³
2 parcels, Flanders · tallest building 24.4 m, ±7 floors. Linked by address, not a title deed.
13
companies at this address
See who is registered here
1 establishment unit
RUSTOORD PRIVILEGE
since 19942.069.036.328
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44043A0411/00F002 | Flanders | 3,359 m² | 1 · 1,196 m² | 23.3 m · 7 fl. |
| 44805E0126/00K000 | Flanders | 628 m² | 1 · 605 m² | 24.4 m · 6 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Structure & network
Part of the group
ALDEA GROUP
15 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- ALDEA GROUP
- Curavi
- MODEVA
Highest known parent: ALDEA GROUP. The sources do not say who stands above it.
Owners 1
- CuraviparentSourceaccounts Curavi 2024100%
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
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 7 entries · 298,107 EUR awarded · 298,107 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 182,211 EUR | 182,211 EUR |
| 2024 | 1 | 5,580 EUR | 24,228 EUR |
| 2023 | 2 | 50,480 EUR | 31,832 EUR |
| 2022 | 3 | 59,836 EUR | 59,836 EUR |
Schemes
Recognitions · licences · registrations
Care and welfare
1 service · 0 livePrivilege
Dual-learning approval
1 endedZorgkundige (vwo)
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Of 322 companies in sector 87101 we hold annual accounts for 235. 131 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
Founded23-09-1992
Fiscal year end31-12
Activities, NACEBEL 2025
87101Residential care activities
87301Residential care activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0448197309
Also
9925:BE0448197309
Registered
13-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.