Equity
€2.1m from €4.0m in 2022
Equity fell by 47% in 3 years.
ECAVEE
Lifetime
19 annual accounts with figures on one time axis, 26 filings since 2000peak €411,395 (2025)
€411,395▲ 143%
lowest -€758,561 (2024)
-€583,334▲ €175,228
peak €4.0m (2022)
€2.1m▼ 21.4%
€5.5m▼ 3.0%
peak 6 FTE (2007)
4.8 FTE▲ 11.6%
Board7 names since 2019
4 directorsADINS Olivia and 3 others
Owners
Documentsfilings and deeds
21-09-202652 days late
2025financial year
Gross margin from €169,606 to €411,395Loss of €583,334Staff from 4.3 FTE to 4.8 FTEEquity from €2.7m to €2.1mCash from €31,827 to €253,213
Key points
from the 2025 annual accountsLosses
-€5.8m in 17 years
Every financial year from 2009 to 2025 closed with a loss. 2024 was the heaviest.
Debts
€5.5m 72% of the balance sheet
Suppliers 2%Taxes and wages 1%Other 97%
Staff
5 employees on 31-12-2025
In 2025, 44 people joined and 43 left.
Filings
26 annual accounts since 2000
Five of the last ten came late. The 2020 accounts came latest: 87 days after the end of the period.
Position in the sector
-€583,334
Lower net result than 95% of companies in crop and animal production. Sector median €61,567 · 564 companies.
Checked score
78
Excellent
Financially stronger than 20% of micro companies in crop and animal production (NACE 01)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.5% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 5,696 companies (NACE 01, micro).
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.6%
01-2025: 0.6%● unchanged vs 12-2024
02-2025: 0.6%● unchanged vs 01-2025
03-2025: 0.6%● unchanged vs 02-2025
04-2025: 0.6%● unchanged vs 03-2025
05-2025: 0.6%● unchanged vs 04-2025
06-2025: 0.6%● unchanged vs 05-2025
07-2025: 0.6%● unchanged vs 06-2025
08-2025: 1.0%▲ +0.4 percentage points vs 07-2025
09-2025: 1.0%● unchanged vs 08-2025
10-2025: 1.0%● unchanged vs 09-2025
11-2025: 1.0%● unchanged vs 10-2025
12-2025: 1.0%● unchanged vs 11-2025
01-2026: 1.0%● unchanged vs 12-2025
02-2026: 1.0%● unchanged vs 01-2026
03-2026: 1.0%● unchanged vs 02-2026
04-2026: 1.0%● unchanged vs 03-2026
05-2026: 1.0%● unchanged vs 04-2026
06-2026: 1.1%▲ +0.1 percentage points vs 05-2026
07-2026: 1.1%● unchanged vs 06-2026
08-2026: 1.4%▲ +0.3 percentage points vs 07-2026
09-2026: 1.6%▲ +0.2 percentage points vs 08-2026highest value
10-2026: 0.5%▼ -1.1 percentage points vs 09-2026lowest value
11-2026: 0.5%● unchanged vs 10-2026lowest value
Financial strengthWeak
Score breakdown
raises risk
Liquidity: current ratio 0.24, cash €253,213
Last filed accounts filed 52 days late; 1 of the last 3 accounts late
Loss of €583,334, the second in a row (financial year 2025)
lowers risk
Sector: Crop and animal production, hunting and related service activities (NACE 01)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 01, micro). It does better than 43% of them on solvency, 13% on liquidity, 11% on profitability and 14% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 2,450 companies had the same profile as ECAVEE has now. Each dot stands for 7 companies, two years later.
93.2%
were still trading
5.0%
stopped another way
1.5%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ECAVEE itself: 0.5% within 12 months.
Test of the method
The method was tested on the 497,447 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 2,450 companies, not a prediction for ECAVEE. 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.
Credit verdict
Credit of up to €160,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.24 (0.28 in 2024), below 1. Short-term debt is 72% and cash 3.3% of total assets. 72% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€583,334
raises risk · 2025 accounts filed 52 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-09-2026, 52 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
52 days late
2024
3 days early
2023
7 days early
2022
58 days late
2021
23 days late
2020
87 days late
2019
20 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 33 days after the deadline. In the sector (NACE 01), the median for financial year 2024 was 3 days before the deadline, and 37% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 23 August (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
S
2INVEST SA
Director, since 29-07-2022
- TransUniverse Group 100%equity €10.2m (2025) · 2025 annual accounts of TransUniverse Group
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0466768651
Environmental permit granted
Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden · Kortrijk
2 directors appointed
Capital from €600,000 to €5,600,000 · Capital from €5,600,000 to €3,400,000 · Contribution: TransUniverse Group (€5,000,000) · General meeting of 28-12-2022 · Gazette deed
1 director appointed, 1 resignation, 2 reappointments
Reappointments: 2INVEST SA and Olivia Adins · Permanent representative: Frank Adins · Appointment: Anthony Adins · General meeting of 29-07-2022 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| ECAVEE Celles (lez-Tournai) | €7.7m | €0.4m | 28.0% | 4.8 |
| KRISMAR STABLES Wingene | €4.8m | €0.4m | 5.8% | 3.3 |
| DIERENASIEL GANZEWEIDE Koksijde | €4.5m | €0.7m | 98.9% | 5.5 |
| Het Blauwe Kruis Brugge Dierenopvangcentrum Bruges | €4.6m | €0.6m | 97.8% | 6.4 |
| BELGIAN BLUE GROUP Wavre | €5.8m | €1.4m | 59.3% | 4.8 |
| HORSE OF BELGIUM Leuze-en-Hainaut | €1.9m | €0.4m | 77.0% | 3.7 |
| GREEN CONSULT HARAS SAINT-ROCH Huy | €2.8m | €0.5m | 29.4% | 2.8 |
These companies have the same main activity as ECAVEE: support activities for animal production (NACE 01620). They are comparable in size and age: total assets between €1.9m and €5.8m, founded between 1976 and 2003.
Official details
Source: KBO- Status
- Active since 01-09-1999Normal situation
- Activity
- Support activities for animal productionNACE 01620and 2 others
- Joint committee
- 302Hotels and catering · annual accounts 2025
- Establishment unit
- 2.093.492.3057760 Celles (lez-Tournai), since 21-12-1999
- Financial year end
- 31 December
- Peppol
- Reachable since 21-10-2026
Annual accounts 2025
- ≈ €1.0mestimated
- €7.7m▼ 9.0%
- Employeeson 31-12-2025
- 5▲ 25.0%
- Filing
- Filed on 21-09-2026
Insights on ECAVEE
ECAVEE has existed since 1999. The gross margin fell from €118,264 in 2015 to €10,553 in 2016.
The gross margin has grown every year since 2022.
TransUniverse Group holds all the shares. In January 2023, the Official Gazette published the appointment of ADINS Olivia as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about ECAVEE
- What is the company number of ECAVEE?
- The company number of ECAVEE is 0466.768.651. The VAT number is the same number with BE in front: BE 0466.768.651.
- Where is ECAVEE based?
- The registered office is at Rue Haute 1, 7760 Celles (lez-Tournai).Company details
- What does ECAVEE do?
- According to the KBO register, the main activity is support activities for animal production (NACE 01620).
- What is the legal form of ECAVEE?
- ECAVEE is a public limited company (NV).
- When was ECAVEE founded?
- ECAVEE was founded on 01-09-1999.
- Is ECAVEE still active?
- Yes, ECAVEE is an active enterprise in the KBO register.
- How many employees does ECAVEE have?
- ECAVEE had an average of 4.8 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does ECAVEE fall under?
- In its 2025 annual accounts, ECAVEE states joint committee 302 (Hotels and catering).
- What is the turnover of ECAVEE?
- The turnover in financial year 2025 is ≈ €1.0m. This figure is estimated from the gross margin of €411,395 and 30 comparable companies (NACE 01). It probably lies between €760,000 and €1.3m.
- Is ECAVEE profitable?
- In financial year 2025, ECAVEE made a loss of €583,334.
- Where can I find the annual accounts of ECAVEE?
- ECAVEE filed 26 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of ECAVEE due?
- ECAVEE must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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