NIRVAN (0823.797.640): financials and annual accounts

NIRVAN

Ghent ·KBO/BCE: BE 0823.797.640

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2012	2011	2010
Balance sheet: assets
Total assets`20/58`	1.8m	1.4m	963,923	1.2m	1.5m	791,013	1.2m	1.1m	814,646	526,163	339,058	180,912	822,011	823,401	258,018
Fixed assets`21/28`	116,638	72,833	36,283	30,887	38,049	53,289	72,829	42,919	38,909	35,413	50,135	43,816	36,057	43,331	33,760
Tangible fixed assets`22/27`	116,638	72,833	36,283	30,887	38,049	53,289	72,829	42,919	38,909	35,413	50,135	43,816	36,057	43,331	33,760
Plant, machinery and equipment`23`	-	-	-	-	-	-	-	145	922	1,782	732	956	1,179	1,403	832
Furniture and vehicles`24`	116,638	72,833	36,283	30,887	38,049	53,289	72,829	42,773	37,987	33,631	49,403	42,860	34,878	41,928	32,928
Current assets`29/58`	1.7m	1.3m	927,640	1.1m	1.5m	737,724	1.1m	1.0m	775,737	490,750	288,923	137,097	785,954	780,070	224,258
Stocks and contracts in progress`3`	1.0m	1.1m	447,961	447,961	-	41,000	41,000	41,000	41,000	41,000	41,000	-	-	-	-
Stocks`30/36`	1.0m	1.1m	447,961	447,961	-	41,000	41,000	41,000	41,000	41,000	41,000	-	-	-	-
Amounts receivable within one year`40/41`	346,395	163,557	446,242	584,040	1.0m	263,588	1.0m	680,250	484,425	269,254	28,015	98,464	761,711	728,888	173,083
Trade receivables`40`	289,964	35,902	86,976	488,965	603,436	263,485	304,062	170,816	294,509	136,810	28,005	38,627	597,095	518,142	148,886
Other amounts receivable`41`	56,430	127,655	359,266	95,075	406,010	103	719,614	509,434	189,916	132,444	10	59,837	164,616	210,746	24,197
Cash at bank and in hand`54/58`	300,249	18,317	33,019	88,671	445,227	431,075	47,049	172,523	142,724	180,163	211,313	30,039	16,361	24,491	48,119
Deferred charges and accrued income`490/1`	3,479	771	418	316	3,845	2,060	2,286	143,290	107,588	333	8,595	8,593	7,881	26,692	3,056
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	1.8m	1.4m	963,923	1.2m	1.5m	791,013	1.2m	1.1m	814,646	526,163	339,058	180,912	822,011	823,401	258,018
Equity`10/15`	279,528	278,351	152,110	281,911	262,726	148,344	94,627	89,702	81,234	71,236	36,606	28,867	21,458	20,555	21,338
Contributions`10/11`	6,200	8,060	8,060	8,060	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200
Issued capital`100`	-	-	-	-	-	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600
Uncalled capital`101`	-	-	-	-	-	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400
Reserves`13`	15,258	13,398	13,398	13,398	15,258	15,258	15,258	15,258	15,258	15,258	15,258	15,258	15,258	15,138	15,138
Non-distributable reserves`130/1`	1,860	-	-	-	1,860	1,860	-	-	-	-	-	-	-	-	-
Legal reserve`130`	-	-	-	-	-	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860
Reserves not available under the articles`1311`	1,860	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other`1319`	-	-	-	-	1,860	-	-	-	-	-	-	-	-	-	-
Distributable reserves`133`	13,398	13,398	13,398	13,398	13,398	13,398	13,398	13,398	13,398	13,398	13,398	13,398	13,398	13,278	13,278
Profit (loss) carried forward`14`	258,071	256,893	130,652	260,454	241,269	126,886	73,169	68,244	59,777	49,778	15,149	7,410	-	-783	-
Provisions and deferred taxes`16`	300,000	300,000	300,000	300,000	300,000	300,000	300,000	470,000	470,000	170,000	-	-	-	-	-
Provisions for liabilities and charges`160/5`	300,000	300,000	300,000	300,000	300,000	300,000	300,000	470,000	470,000	170,000	-	-	-	-	-
Other liabilities and charges`164/5`	300,000	300,000	300,000	300,000	300,000	300,000	300,000	470,000	470,000	170,000	-	-	-	-	-
Amounts payable`17/49`	1.2m	813,618	511,813	569,963	933,841	342,669	792,213	520,279	263,412	284,927	302,451	152,045	800,553	802,846	236,680
Amounts payable after more than one year`17`	-	-	-	-	-	-	-	-	-	-	5,616	5,616	5,616	5,616	5,616
Financial debts`170/4`	-	-	-	-	-	-	-	-	-	-	5,616	5,616	5,616	5,616	5,616
Amounts payable within one year`42/48`	1.2m	813,618	511,813	569,963	933,841	342,669	792,213	520,279	263,412	284,927	296,716	146,310	794,818	797,230	230,944
Current portion of amounts payable after more than one year`42`	-	-	-	-	-	-	-	-	-	-	3,964	3,964	3,964	3,964	3,964
Trade debts`44`	519,709	620,523	348,589	340,171	756,268	310,502	642,404	362,135	127,669	164,765	180,774	51,149	590,048	615,899	217,058
Suppliers`440/4`	519,709	620,523	348,589	340,171	756,268	310,502	642,404	362,135	127,669	164,765	180,774	51,149	590,048	615,899	217,058
Taxes, remuneration and social security`45`	52,869	109,523	48,744	41,812	63,094	32,167	67,028	46,166	23,765	8,184	-	219	113,710	112,722	9,581
Taxes`450/3`	11,558	8,966	1,410	1,265	11,963	11,073	979	366	9	-	-	-	113,710	112,722	7,349
Remuneration and social security`454/9`	41,311	100,557	47,334	40,548	51,130	21,094	66,049	45,800	23,756	8,184	-	219	-	-	2,232
Other amounts payable`47/48`	631,802	83,572	114,480	187,979	114,480	-	82,781	111,978	111,978	111,978	111,978	90,978	87,096	64,644	341
Accrued charges and deferred income`492/3`	-	-	-	-	-	-	-	-	-	-	119	119	119	-	119
Income statement
Gross operating margin`9900`	270,445	339,518	-28,079	107,608	211,982	115,904	93,285	209,737	379,830	241,376	28,467	5,675	11,683	2,511	79,864
Remuneration, social security and pensions`62`	173,298	117,403	74,578	56,262	59,377	35,479	37,659	158,046	35,332	11,326	-	9	164	1,715	39,300
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	28,856	17,688	19,604	21,863	21,260	20,880	37,119	28,122	21,779	16,631	15,995	-	8,920	-	17,360
Provisions for liabilities and charges: additions (uses and reversals)`635/8`	-	-	-	-	-	-	-	-	300,000	170,000	-	-	-	-	-
Other operating charges`640/8`	9,814	69,597	7,219	9,823	12,098	5,630	13,457	14,892	9,724	7,525	4,539	1,991	1,622	1,454	1,829
Non-recurring operating charges`66A`	-	-	-	-	4,680	-	-	-	-	-	-	-	-	-	-
Operating profit (loss)`9901`	58,477	134,831	-129,479	19,660	114,567	53,914	5,051	8,677	12,995	35,894	7,932	3,675	977	-658	21,376
Financial income`75/76B`	5,575	4	26	5	19	-	-	-	-	57	-	-	0	-	19
Recurring financial income`75`	5,575	4	26	5	19	-	-	-	-	57	-	-	0	-	19
Financial charges`65/66B`	6,607	423	349	481	180	198	126	209	196	375	193	-	75	125	79
Recurring financial charges`65`	6,607	423	349	481	180	198	126	209	196	375	193	-	75	125	79
Profit (loss) for the period before taxes`9903`	57,445	134,412	-129,802	19,185	114,406	53,717	4,925	8,468	12,799	35,576	7,739	3,675	902	-783	21,316
Income taxes`67/77`	56,267	8,170	-	-	-	-	-	-	2,801	946	-	-	-	-	6,178
Profit (loss) for the period`9904`	1,178	126,241	-129,802	19,185	114,406	53,717	4,925	8,468	9,999	34,629	7,739	3,675	902	-783	15,138
Profit (loss) for the period to be appropriated`9905`	1,178	126,241	-129,802	19,185	114,406	53,717	4,925	8,468	9,999	34,629	7,739	3,675	902	-783	15,138
Appropriation of the result
Profit (loss) to be appropriated`9906`	258,071	256,893	130,652	260,454	241,269	126,886	73,169	68,244	59,777	49,778	15,149	7,410	119	-783	15,138
Profit (loss) brought forward from the previous period`14P`	256,893	130,652	260,454	241,269	126,862	-	-	-	-	-	-	-	-	-	-
Transfer to equity`691/2`	-	-	-	-	-	-	-	-	-	-	-	-	119	-	15,138
To the legal reserve`6920`	-	-	-	-	-	-	-	-	-	-	-	-	119	-	1,860
To other reserves`6921`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13,278
Social balance sheet
Average staff (FTE)`9087`	-	-	-	-	-	-	-	2.8	-	-	-	-	-	-	2.5
Hours worked`1013`	-	-	-	-	-	-	-	1,568	-	-	-	-	-	-	1,087
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Financial year	Type	Filed	Reference	Document
31-12-2025	abbreviated format	13-10-2026	2026-00555599	PDF
31-12-2024	abbreviated format	08-10-2025	2025-00536026	PDF
31-12-2023	abbreviated format	22-01-2025	2025-00008827	PDF
31-12-2022	abbreviated format	31-08-2023	2023-00441665	PDF
31-12-2021	full format	17-02-2023	2023-00028476	PDF
31-12-2020	full format	20-10-2021	2021-72300443	PDF
31-12-2019	full format	18-11-2020	2020-71000530	PDF
31-12-2018	full format	09-01-2020	2020-00600339	PDF
31-12-2017	full format	23-11-2018	2018-72700308	PDF
31-12-2016	full format	29-01-2018	2018-03000051	PDF
31-12-2015	full format	31-08-2016	2016-58600202	PDF
31-12-2014	full format	15-10-2015	2015-65000428	PDF
31-12-2012	abbreviated format	26-03-2014	2014-07300376	PDF
31-12-2011	abbreviated format	13-12-2012	2012-66800127	PDF
31-12-2010	abbreviated format	05-07-2011	2011-27400270	PDF

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2012	2011	2010
EBITDA	87,333	152,519	-109,876	41,523	135,827	74,795	42,169	36,799	34,775	52,525	23,927	-	9,897	-	38,735
Cash flow	30,034	143,929	-110,198	41,048	135,666	74,597	42,044	36,590	31,778	51,261	23,734	-	9,822	-	32,498
Investment in fixed assets	72,661	54,239	25,000	14,700	12,200	1,340	67,029	32,132	25,275	1,910	22,314	23,089	1,646	9,571	51,120
Change in cash	281,932	-14,702	-55,652	-356,556	14,152	384,026	-125,474	29,799	-37,439	-31,150	181,274	-	-8,129	-23,628	-
Working capital	462,891	505,518	415,827	551,025	524,677	395,054	321,798	516,783	512,326	205,823	-7,793	-9,213	-8,865	-17,160	-6,687
Solvency	15.7%	20.0%	15.8%	24.5%	17.6%	18.8%	8.0%	8.3%	10.0%	13.5%	10.8%	16.0%	2.6%	2.5%	8.3%
Current ratio	1.38	1.62	1.81	1.97	1.56	2.15	1.41	1.99	2.94	1.72	0.97	0.94	0.99	0.98	0.97
Quick ratio	0.54	0.22	0.94	1.18	1.56	2.03	1.35	1.91	2.79	1.58	0.84	0.94	0.99	0.98	0.97
Debt to equity	4.31	2.92	3.36	2.02	3.55	2.31	8.37	5.80	3.24	4.00	8.26	5.27	37.31	39.06	11.09
ROE	0.4%	45.4%	-85.3%	6.8%	43.5%	36.2%	5.2%	9.4%	12.3%	48.6%	21.1%	12.7%	4.2%	-3.8%	70.9%
ROA	0.1%	9.1%	-13.5%	1.7%	7.6%	6.8%	0.4%	0.8%	1.2%	6.6%	2.3%	2.0%	0.1%	-0.1%	5.9%
Interest coverage	13.22	over 100	-315.25	86.39	over 100	-	-	-	-	-	-	-	-	-	-

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€72,661	€54,239	€25,000	€14,700	€12,200
Depreciation and write-downs of the year	€28,856	€17,688	€19,604	€21,863	€21,260

NIRVAN

Annual accounts 2025

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency15.7%

Current ratio1.38

Return on assets0.1%

Staff

Staff cost per FTE

Joined and left

Filed annual accounts

Filings

Key figures and ratios

Investments

Insights on NIRVAN

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