NAVA
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 70 days after the deadline Filed on 9 July 2026, deadline 30 April 2026 (7 months after the close on 30 September 2025, Companies Code art. 3:10). Source: NBB, 2026-00288646.
Annual accounts 2025 filed on 09-07-2026 at the NBB
Turnover and EBIT margin are not published. The micro format does not require them.
| Line | 2025 |
|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,795 |
| Other operating charges640/8 | €437 |
| Gross operating margin9900 | -€9,765 |
| Operating profit (loss)9901 | -€11,997 |
| Financial charges65/66B | €377 |
| Recurring financial charges65 | €377 |
| Profit (loss) for the period before taxes9903 | -€12,374 |
| Profit (loss) for the period9904 | -€12,374 |
| Profit (loss) for the period to be appropriated9905 | -€12,374 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €14,320 | |
| Formation expenses20 | €2,121 | |
| Fixed assets21/28 | €7,902 | |
| Tangible fixed assets22/27 | €3,777 | |
| Plant, machinery and equipment23 | €1,463 | |
| Furniture and vehicles24 | €2,314 | |
| Financial fixed assets28 | €4,125 | |
| Current assets29/58 | €4,298 | |
| Amounts receivable within one year40/41 | €2,036 | |
| Other amounts receivable41 | €2,036 | |
| Cash at bank and in hand54/58 | €2,262 | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €14,320 | |
| Equity10/15 | -€10,374 | |
| Contributions10/11 | €2,000 | |
| Profit (loss) carried forward14 | -€12,374 | |
| Amounts payable17/49 | €24,694 | |
| Amounts payable within one year42/48 | €24,694 | |
| Trade debts44 | €11,321 | |
| Suppliers440/4 | €11,321 | |
| Taxes, remuneration and social security45 | €908 | |
| Taxes450/3 | €908 | |
| Other amounts payable47/48 | €12,466 | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | -€12,374 |
| + Depreciation and write-downs630 | €1,795 |
| Operating cash flow (approximation) | -€10,579 |
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, 7,639 companies had the same profile as NAVA has now. Two years later, 84.9% were still going and 8.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
Another 0.7% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of NAVA itself: 6.1% 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 7,639 companies, not a prediction for NAVA. 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.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 09-07-2026 | 2026-00288646 |