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MORVAN

Active
Private limited companyfounded 199036 yrs activePaddevijverstraat 56, 8900 Ieper, BelgiumKBO/BCE: BE 0441.982.082
Summary

MORVAN has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.5m and a net result of €364,263. Equity is growing by ~11.4% per year across the filed fiscal years. Its solvency ranks better than 95% of 9042 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).

Risk analysisWatch ReportCompare
MORVANActiveChecked score 96/100
Risk analysis ReportCompare

Overview

Activity
Plumbing work
NACE 43221NACE 45332Retail sale of electrical household appliances NACE 47540
1 site
Size
€2.7mtotal assets 2025
Staff
4.5 FTE
Equity
€2.5m
Profit
€364,263
Turnover not published (abridged schema)
Financial health
96 Excellent Checked score 2025
Bankruptcy chance 12 m
< 0.1%
Structure
Accounts 38 d early0 of 5 deeds read
Why 96- Sector Specialised construction activities (NACE 43)+ Founded in 1990+ Liquidity: current ratio 15.16, cash €362,987+ Equity €2.5m (91.6% of total assets)Show the evidence

Checked score

Score 2025
96 / 100
Excellent
Probability in this band: under 0.55%
Better than 69% of its sector peers (NACE 43, micro)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Strong
Solvency 100=
equity 91.6% of total assets
Liquidity 67-11
short-term debt 6.5% · cash 13.5%
Profitability 86-2
return on assets 13.5%
Bankruptcy probability, 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.7% (47,046 companies)
Last 24 months 11-2024: < 0.1%lowest value 12-2024: < 0.1%● 0.0% vs 11-2024lowest value 01-2025: < 0.1%● 0.0% vs 12-2024lowest value 02-2025: < 0.1%▲ +2.5% vs 01-2025 03-2025: < 0.1%● 0.0% vs 02-2025 04-2025: < 0.1%● 0.0% vs 03-2025 05-2025: < 0.1%● 0.0% vs 04-2025 06-2025: < 0.1%● 0.0% vs 05-2025 07-2025: < 0.1%● 0.0% vs 06-2025 08-2025: < 0.1%● 0.0% vs 07-2025 09-2025: < 0.1%● 0.0% vs 08-2025 10-2025: < 0.1%▼ -2.4% vs 09-2025lowest value 11-2025: < 0.1%● 0.0% vs 10-2025lowest value 12-2025: < 0.1%▲ +10.0% vs 11-2025 01-2026: < 0.1%● 0.0% vs 12-2025 02-2026: < 0.1%▲ +2.3% vs 01-2026 03-2026: < 0.1%▲ +2.2% vs 02-2026highest value 04-2026: < 0.1%▼ -6.5% vs 03-2026 05-2026: < 0.1%● 0.0% vs 04-2026 06-2026: < 0.1%● 0.0% vs 05-2026 07-2026: < 0.1%▲ +2.3% vs 06-2026 08-2026: < 0.1%● 0.0% vs 07-2026 09-2026: < 0.1%● 0.0% vs 08-2026 10-2026: < 0.1%▼ -2.3% vs 09-2026
  • Founded in 1990 lowers the probability for this profile
  • Liquidity: current ratio 15.16, cash €362,987 lowers the probability
  • Equity €2.5m (91.6% of total assets) lowers the probability
  • Sector Specialised construction activities (NACE 43) raises the probability
Credit up to €230,000 at 30 days acceptable
Liquidity ample (current ratio 15.16 against 11.47 in 2024; short-term debt: 6.5% and cash: 13.5% of total assets), and 8.4% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 43, micro). Better than this share of them on solvency 90%, liquidity 65%, profitability 70%, growth against the median 51%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Founded in 1990
In the bankruptcy model this factor lowers the probability for this profile.
KBO
lowers risk · Liquidity: current ratio 15.16, cash €362,987
In the bankruptcy model this factor lowers the probability.
NBB · annual accounts
lowers risk · Equity €2.5m (91.6% of total assets)
In the bankruptcy model this factor lowers the probability.
NBB · annual accounts
raises risk · Sector Specialised construction activities (NACE 43)
In the bankruptcy model this factor raises the probability.
KBO
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 23-03-2026, 38 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
38 d early
2024
43 d early
2023
35 d early
2022
33 d early
2021
31 d early
2020
38 d early
2019
3 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 32 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 27 March (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
30-09-2026 close03-10-2026 today30-04-2027 deadline
neutral · 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
  1. Annual accounts filedfiscal year 2025 · abbreviated…
  2. Annual accounts filedfiscal year 2024 · abbreviated…
  3. Annual accounts filedfiscal year 2023 · abbreviated…

Key points

  • Positive: Among the best 5% on solvencysector median 44.2% · 9,042 companies 91.6% View
  • Positive: Always filed on timeaccounts within the deadline every year 8 years View
  • Positive: 7 profitable years in a rowprofit 2025: €364,263 7 years View

By topic

Financials

Fiscal year
2025
Total assets
€2.7m
Profit
€364,263
Solvency
91.6%
Total assets▲ 4.5%
Net result
20192025
Go to Financials

Timeline

Events
12
Since
2017
Next accounts
by 30-04-2027
  1. 23-03-2026Annual accounts filed
  2. 18-03-2025Annual accounts filed
  3. 26-03-2024Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Private limited company
Activity
Plumbing workNACE 43221
Founded
13-09-1990
Year ends
30-09
Peppol
Reachable for e-invoices
Go to Company details

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