MONTEVARA
ActiveSummary
MONTEVARA has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €919,391 and a net result of €54,589. Equity remains stable across the filed fiscal years (±1.6% per year). Its solvency ranks better than 88% of 19362 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability75▲+2
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €75,000 at 30 days acceptable
Liquidity ample (current ratio 2.18 against 1.51 in 2023; short-term debt: 13.9% and cash: 6.9% of total assets), and 14.8% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
85.2%
Return on assets
5.1%
Age of the figures
21 mo
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €919,391
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 09-07-2025, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
22 d early
2023
23 d early
2022
26 d early
2021
32 d early
2020
25 d early
2019
23 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 25 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€919,391▲ 6.3%
2023 · €864,802
Total assets
€1.1m▲ 0.7%
2023 · €1.1m
Net result
€54,589▲ 48.6%
2023 · €36,746
Working capital
€176,905▲ 74.0%
2023 · €101,648
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate 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
Line20202021202220232024
Operating result€11,525▼ 7.8%€10,051▼ 12.8%€24,807▲ 147%€61,484▲ 148%€84,647▲ 37.7%
Net result€3,689within the sector's middle half▼ 36.8%€2,504within the sector's middle half▼ 32.1%€12,927within the sector's middle half▲ 416%€36,746above the sector's middle half▲ 184%€54,589above the sector's middle half▲ 48.6%
Equity€812,625within the sector's middle half▲ 0.5%€815,130above the sector's middle half▲ 0.3%€828,056above the sector's middle half▲ 1.6%€864,802above the sector's middle half▲ 4.4%€919,391above the sector's middle half▲ 6.3%
Total assets€945,094within the sector's middle half▲ 2.9%€988,158within the sector's middle half▲ 4.6%€994,071within the sector's middle half▲ 0.6%€1.1mwithin the sector's middle half▲ 7.8%€1.1mwithin the sector's middle half▲ 0.7%
Debt€132,469▲ 21.2%€173,029▲ 30.6%€166,015▼ 4.1%€206,764▲ 24.5%€159,598▼ 22.8%
Working capital€64,435▲ 299%€77,862▲ 20.8%€98,831▲ 26.9%€101,648▲ 2.9%€176,905▲ 74.0%
Solvency86.0%above the sector's middle half▼ 2.1pp82.5%above the sector's middle half▼ 3.5pp83.3%above the sector's middle half▲ 0.8pp80.7%above the sector's middle half▼ 2.6pp85.2%above the sector's middle half▲ 4.5pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 38% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.1m
Fixed assets
€752,035 ▼ 2.5%
Current assets
€326,954 ▲ 8.9%
Equity and liabilities €1.1m
Equity
€919,391 ▲ 6.3%
Debt
€159,598 ▼ 22.8%
Debt's share of the balance-sheet total falls from 19.3% to 14.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€103,954▲
2023 · €80,344
Cash flow
€73,896▲
2023 · €55,606
Current ratio
2.18▲
2023 · 1.51
Debt to equity
0.17▼
2023 · 0.24
ROE
5.9%▲
2023 · 4.2%
ROA
5.1%▲
2023 · 3.4%
Interest coverage
10.82▲
2023 · 9.70
Debt ≤ 1 year
€150,050▼
2023 · €198,576
Income taxes
€27,153▲
2023 · €19,590
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,082 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
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 20,082 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24,766 | €24,766 | €17,032 | €18,860 | €19,307 | ▲ 2.4% |
| Other operating charges640/8 | - | €11,755 | €33,848 | €13,963 | €14,665 | ▲ 5.0% |
| Gross operating margin9900 | €41,379 | €46,572 | €75,687 | €94,307 | €118,619 | ▲ 25.8% |
| Operating profit (loss)9901 | €11,525 | €10,051 | €24,807 | €61,484 | €84,647 | ▲ 37.7% |
| Financial income75/76B | - | €19 | €94 | €3,131 | €6,701 | ▲ 114% |
| Recurring financial income75 | €0 | €19 | €94 | €3,131 | €6,701 | ▲ 114% |
| Financial charges65/66B | - | €4,826 | €5,865 | €8,279 | €9,607 | ▲ 16.0% |
| Recurring financial charges65 | €3,953 | €4,826 | €5,865 | €8,279 | €9,607 | ▲ 16.0% |
| Profit (loss) for the period before taxes9903 | €7,572 | €5,244 | €19,036 | €56,336 | €81,741 | ▲ 45.1% |
| Income taxes67/77 | €3,884 | €2,740 | €6,109 | €19,590 | €27,153 | ▲ 38.6% |
| Profit (loss) for the period9904 | €3,689 | €2,504 | €12,927 | €36,746 | €54,589 | ▲ 48.6% |
| Profit (loss) for the period to be appropriated9905 | €3,689 | €2,504 | €12,927 | €36,746 | €54,589 | ▲ 48.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €945,094 | €988,158 | €994,071 | €1.1m | €1.1m | ▲ 0.7% |
| Fixed assets21/28 | €771,763 | €746,996 | €735,036 | €771,341 | €752,035 | ▼ 2.5% |
| Tangible fixed assets22/27 | €771,763 | €746,996 | €735,036 | €771,341 | €752,035 | ▼ 2.5% |
| Land and buildings22 | - | €746,996 | €735,036 | €769,865 | €750,887 | ▼ 2.5% |
| Furniture and vehicles24 | - | - | - | €1,476 | €1,148 | ▼ 22.3% |
| Current assets29/58 | €173,331 | €241,162 | €259,035 | €300,224 | €326,954 | ▲ 8.9% |
| Amounts receivable within one year40/41 | €14,896 | €17,240 | €25,401 | €20,256 | €18,746 | ▼ 7.5% |
| Trade receivables40 | - | €14,806 | €22,966 | €20,256 | €18,281 | ▼ 9.8% |
| Other amounts receivable41 | - | €2,434 | €2,434 | - | €465 | - |
| Current investments50/53 | - | - | - | €200,362 | €230,000 | ▲ 14.8% |
| Cash at bank and in hand54/58 | €157,343 | €220,332 | €229,666 | €75,265 | €74,010 | ▼ 1.7% |
| Deferred charges and accrued income490/1 | - | €3,590 | €3,969 | €4,342 | €4,198 | ▼ 3.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €945,094 | €988,158 | €994,071 | €1.1m | €1.1m | ▲ 0.7% |
| Equity10/15 | €812,625 | €815,130 | €828,056 | €864,802 | €919,391 | ▲ 6.3% |
| Contributions10/11 | - | €500,000 | €500,000 | €500,000 | €500,000 | = |
| Reserves13 | €312,625 | €315,130 | €328,056 | €364,802 | €419,391 | ▲ 15.0% |
| Non-distributable reserves130/1 | - | €40,245 | €40,245 | - | - | - |
| Reserves not available under the articles1311 | - | €40,245 | €40,245 | - | - | - |
| Distributable reserves133 | - | €274,885 | €287,812 | €364,802 | €419,391 | ▲ 15.0% |
| Amounts payable17/49 | €132,469 | €173,029 | €166,015 | €206,764 | €159,598 | ▼ 22.8% |
| Amounts payable within one year42/48 | €108,896 | €163,300 | €160,204 | €198,576 | €150,050 | ▼ 24.4% |
| Trade debts44 | €3,173 | €3,970 | €11,946 | €1,097 | €451 | ▼ 58.9% |
| Suppliers440/4 | - | €3,970 | €11,946 | €1,097 | €451 | ▼ 58.9% |
| Taxes, remuneration and social security45 | - | €2,343 | €4,857 | €14,806 | €16,561 | ▲ 11.9% |
| Taxes450/3 | - | €2,343 | €4,857 | €14,806 | €16,561 | ▲ 11.9% |
| Other amounts payable47/48 | - | €156,987 | €143,401 | €182,673 | €133,037 | ▼ 27.2% |
| Accrued charges and deferred income492/3 | - | €9,729 | €5,811 | €8,187 | €9,548 | ▲ 16.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,689 | €2,504 | €12,927 | €36,746 | €54,589 | ▲ 48.6% |
| + Depreciation and write-downs630 | €24,766 | €24,766 | €17,032 | €18,860 | €19,307 | ▲ 2.4% |
| Operating cash flow (approximation) | €28,455 | €27,271 | €29,959 | €55,606 | €73,896 | ▲ 32.9% |
| Investment in fixed assets (approximation) | - | €0 | -€5,072 | -€55,165 | €0 | ▲ 100% |
| Change in cash | - | €62,990 | €9,334 | -€154,402 | -€1,255 | ▲ 99.2% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2026
10-09
State Gazette act
Resignation: Michiel Van Raemdonck (director)Appointment: Johan Cappaert (director) · Director discharge · Declaration8 facts ▸
State Gazette act
Resignation: Michiel Van Raemdonck (director)
Appointment: Johan Cappaert (director) · Director discharge · Declaration8 facts ▸
- General meeting, 20-08-2026
- Director resignation, Michiel Van Raemdonck (director)
- Director appointment, Johan Cappaert (director)
- Director discharge, Michiel Van Raemdonck
- Declaration, geen bestuursverbod of veroordeling, artikel 6 van de wet betreffende het Centraal register van bestuursverboden van 4 mei 2023
- Board meeting, 20-08-2026
- Registered-office move, Europark-Zuid 23, 9100 Sint-Niklaas
- Other statement, schrapping vestigingseenheid, Mgr. Stillemansstraat 38, 9100 Sint-Niklaas
2025
09-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €54,589 ▲48.6%
Operating result €84,647, net result €54,589, both a record.
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €2,504 ▼32.1%
Net result drops to €2,504, the lowest in the series; recovery starts the following year.
06-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
08-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
03-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
14-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
07-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 7 acts read
About the unread acts
Of the 7 Belgian State Gazette acts we know for this company, 1 has been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Johan Cappaert
CurrentDirector · since 20-08-2026
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
6 of this company's 7 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, Sint-Niklaas · 1 establishment unit since 1989
Ground area
4,168 m²
Building footprint
1,999 m²
Volume, LiDAR
12,788 m³
Parcel 46442C0455/00E000, Flanders · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
MONTEVARA
since 19892.028.825.769
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46442C0455/00E000 | Flanders | 4,168 m² | 1 · 1,999 m² | 8.0 m · 2 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
2 people since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Johan Cappaert |
|
| Van Raemdonck Michiel |
|
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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Of 12,042 companies in sector 68203 we hold annual accounts for 5,995. 4,185 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded23-12-1985
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
10890Manufacture of food products
52100Warehousing and storage
E-invoicing
Not found in the Peppol register
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Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.