NOVAN
ActiveSummary
NOVAN has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €87,085 and a net result of €16,501. Equity is growing by ~25.2% per year across the filed fiscal years. Its solvency ranks better than 40% of 28184 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability78▲+7
Solvency63▲+12
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity short (current ratio 0.83 against 0.59 in 2024; short-term debt: 25.2% and cash: 4.7% of total assets), and 62.3% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
37.7%
Return on assets
7.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
161 d late
2023
30 d late
2022
30 d late
2021
22 d late
2020
20 d late
2019
31 d late
← 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 46 days after 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 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
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Financials · fiscal year 2025, micro schema
Equity
€87,085▲ 20.5%
2024 · €72,250
Total assets
€230,905▼ 15.4%
2024 · €273,002
Net result
€16,501▲ 176%
2024 · €5,980
Working capital
-€10,158▲ 69.0%
2024 · -€32,799
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€6,108▲ 20.0%€18,724▲ 207%€45,518▲ 143%€14,605▼ 67.9%€30,240▲ 107%
Net result€3,206▲ 20.9%€12,620▲ 294%€34,895▲ 176%€5,980▼ 82.9%€16,501▲ 176%
Equity€32,755▲ 10.8%€45,375▲ 38.5%€72,770▲ 60.4%€72,250▼ 0.7%€87,085▲ 20.5%
Total assets€103,828▼ 2.1%€132,969▲ 28.1%€275,869▲ 107%€273,002▼ 1.0%€230,905▼ 15.4%
Debt€71,073▼ 7.1%€87,594▲ 23.2%€203,098▲ 132%€200,752▼ 1.2%€143,820▼ 28.4%
Working capital€414▼ 91.5%-€4,559€26,939-€32,799-€10,158▲ 69.0%
Staff (FTE)
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 107% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €230,905
Fixed assets
€182,812 ▼ 19.3%
Current assets
€48,093 ▲ 3.4%
Equity and liabilities €230,905
Equity
€87,085 ▲ 20.5%
Debt
€143,820 ▼ 28.4%
Debt's share of the balance-sheet total falls from 73.5% to 62.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€71,667▲
2024 · €52,806
Cash flow
€57,928▲
2024 · €44,181
Current ratio
0.83▲
2024 · 0.59
Quick ratio
0.82▲
2024 · 0.51
Debt to equity
1.65▼
2024 · 2.78
ROE
18.9%▲
2024 · 8.3%
ROA
7.1%▲
2024 · 2.2%
Interest coverage
12.46▲
2024 · 8.25
Debt ≤ 1 year
€58,251▼
2024 · €79,303
Debt > 1 year
€85,568▼
2024 · €121,449
Income taxes
€8,798▲
2024 · €2,631
Staff costs
€1,092▼
2024 · €2,595
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.9% 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 34,672 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €1,000 | €2,093 | €400 | ▼ 80.9% |
| Remuneration, social security and pensions62 | - | - | - | €2,595 | €1,092 | ▼ 57.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,534 | €14,903 | €21,580 | €38,201 | €41,427 | ▲ 8.4% |
| Other operating charges640/8 | €1,843 | €2,300 | €4,241 | €2,460 | €2,763 | ▲ 12.3% |
| Non-recurring operating charges66A | €4,074 | - | - | - | €460 | - |
| Gross operating margin9900 | €27,558 | €35,927 | €71,339 | €57,862 | €75,982 | ▲ 31.3% |
| Operating profit (loss)9901 | €6,108 | €18,724 | €45,518 | €14,605 | €30,240 | ▲ 107% |
| Financial income75/76B | €1,013 | €402 | €301 | €409 | €1,311 | ▲ 220% |
| Recurring financial income75 | €1,013 | €402 | €301 | €409 | €1,311 | ▲ 220% |
| Financial charges65/66B | €1,552 | €2,566 | €3,086 | €6,403 | €6,252 | ▼ 2.4% |
| Recurring financial charges65 | €1,552 | €2,566 | €3,086 | €6,403 | €5,752 | ▼ 10.2% |
| Non-recurring financial charges66B | - | - | - | - | €500 | - |
| Profit (loss) for the period before taxes9903 | €5,569 | €16,560 | €42,733 | €8,611 | €25,299 | ▲ 194% |
| Income taxes67/77 | €2,363 | €3,940 | €7,837 | €2,631 | €8,798 | ▲ 234% |
| Profit (loss) for the period9904 | €3,206 | €12,620 | €34,895 | €5,980 | €16,501 | ▲ 176% |
| Profit (loss) for the period to be appropriated9905 | €3,206 | €12,620 | €34,895 | €5,980 | €16,501 | ▲ 176% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €103,828 | €132,969 | €275,869 | €273,002 | €230,905 | ▼ 15.4% |
| Fixed assets21/28 | €62,017 | €81,390 | €172,596 | €226,498 | €182,812 | ▼ 19.3% |
| Tangible fixed assets22/27 | €62,017 | €81,390 | €172,596 | €226,498 | €182,812 | ▼ 19.3% |
| Land and buildings22 | €36,513 | €64,551 | €107,723 | €94,089 | €80,455 | ▼ 14.5% |
| Plant, machinery and equipment23 | €6,369 | €4,364 | €19,429 | €80,131 | €65,388 | ▼ 18.4% |
| Furniture and vehicles24 | €15,851 | €10,619 | €45,445 | €52,279 | €36,968 | ▼ 29.3% |
| Leasing and similar rights25 | €3,284 | €1,856 | - | - | - | - |
| Current assets29/58 | €41,810 | €51,579 | €103,272 | €46,504 | €48,093 | ▲ 3.4% |
| Amounts receivable after more than one year29 | - | - | - | €20,000 | - | - |
| Other amounts receivable291 | - | - | - | €20,000 | - | - |
| Stocks and contracts in progress3 | €750 | €1,750 | €15,500 | €5,750 | €150 | ▼ 97.4% |
| Stocks30/36 | €750 | €1,750 | €500 | €1,000 | €150 | ▼ 85.0% |
| Contracts in progress37 | - | - | €15,000 | €4,750 | - | - |
| Amounts receivable within one year40/41 | €19,917 | €24,328 | €9,742 | €14,085 | €37,029 | ▲ 163% |
| Trade receivables40 | €11,197 | €22,201 | €3,157 | €11,806 | €10,410 | ▼ 11.8% |
| Other amounts receivable41 | €8,720 | €2,127 | €6,584 | €2,278 | €26,619 | ▲ 1,068% |
| Cash at bank and in hand54/58 | €15,918 | €21,726 | €75,185 | €4,975 | €10,801 | ▲ 117% |
| Deferred charges and accrued income490/1 | €5,225 | €3,775 | €2,845 | €1,694 | €114 | ▼ 93.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €103,828 | €132,969 | €275,869 | €273,002 | €230,905 | ▼ 15.4% |
| Equity10/15 | €32,755 | €45,375 | €72,770 | €72,250 | €87,085 | ▲ 20.5% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €13,400 | €25,900 | €49,500 | €53,000 | €68,485 | ▲ 29.2% |
| Non-distributable reserves130/1 | €1,400 | €1,400 | - | - | - | - |
| Reserves not available under the articles1311 | €1,400 | €1,400 | - | - | - | - |
| Distributable reserves133 | €12,000 | €24,500 | €49,500 | €53,000 | €68,485 | ▲ 29.2% |
| Profit (loss) carried forward14 | €755 | €875 | €4,670 | €650 | - | - |
| Amounts payable17/49 | €71,073 | €87,594 | €203,098 | €200,752 | €143,820 | ▼ 28.4% |
| Amounts payable after more than one year17 | €29,677 | €31,456 | €126,765 | €121,449 | €85,568 | ▼ 29.5% |
| Financial debts170/4 | €9,677 | €16,456 | €126,765 | €121,449 | €85,568 | ▼ 29.5% |
| Other amounts payable178/9 | €20,000 | €15,000 | - | - | - | - |
| Amounts payable within one year42/48 | €41,396 | €56,138 | €76,334 | €79,303 | €58,251 | ▼ 26.5% |
| Current portion of amounts payable after more than one year42 | €10,411 | €11,861 | €23,277 | €34,389 | €32,314 | ▼ 6.0% |
| Trade debts44 | €16,105 | €36,038 | €29,759 | €20,017 | €11,505 | ▼ 42.5% |
| Suppliers440/4 | €16,105 | €36,038 | €29,759 | €20,017 | €11,505 | ▼ 42.5% |
| Advances received on contracts in progress46 | - | - | €1,080 | - | - | - |
| Taxes, remuneration and social security45 | €9,860 | €6,628 | €12,606 | €13,786 | €12,800 | ▼ 7.2% |
| Taxes450/3 | €9,860 | €6,628 | €12,606 | €13,573 | €12,800 | ▼ 5.7% |
| Remuneration and social security454/9 | - | - | - | €213 | - | - |
| Other amounts payable47/48 | €5,020 | €1,612 | €9,611 | €11,110 | €1,632 | ▼ 85.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,206 | €12,620 | €34,895 | €5,980 | €16,501 | ▲ 176% |
| + Depreciation and write-downs630 | €15,534 | €14,903 | €21,580 | €38,201 | €41,427 | ▲ 8.4% |
| Operating cash flow (approximation) | €18,740 | €27,523 | €56,476 | €44,181 | €57,928 | ▲ 31.1% |
| Investment in fixed assets (approximation) | - | -€34,276 | -€112,786 | -€92,103 | €2,260 | ▲ 102% |
| Change in cash | - | €5,808 | €53,460 | -€70,210 | €5,826 | ▲ 108% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
08-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 161 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Highest result since 2018net €34,895 ▲176%
Operating result €45,518, net result €34,895, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 22 days late
2021
20-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 20 days late
2020
31-12
Financial
Weakest financial yearnet €2,653 ▼70.7%
Net result drops to €2,653, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Wingene · 1 establishment unit since 2015
Ground area
3,186 m²
Building footprint
177 m²
Volume, LiDAR
1,185 m³
Parcel 37018E0621/00E000, Flanders · tallest building 10.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
VANDENBERGHE WOUTER
since 20152.246.726.767
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37018E0621/00E000 | Flanders | 3,186 m² | 1 · 176 m² | 10.1 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.
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Of 749 companies in sector 43332 we hold annual accounts for 411. 354 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
Founded21-10-2015
Fiscal year end31-12
Activities, NACEBEL 2025
43332Laying of wooden floor and wall coverings
25110Manufacture of metal structures and parts of structures
25530Machining of metals
43211General electrical installation work
43212Electrical installation work in industrial facilities
43221Plumbing work
43222Installation of electric heating, air conditioning, cooling and ventilation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0641782187
Also
9925:BE0641782187
Registered
10-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.