Pavan
ActiveSummary
Pavan has been active since 1982 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.94M and a net result of €75k. Equity remains stable across the filed fiscal years (±0.1% per year). Its solvency ranks better than 85% of 45 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2025
76
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability37▲+20
Solvency96=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €290k at 30 days acceptable
Liquidity ample (current ratio 17.53 against 18.94 in 2024; short-term debt: 2.9% and cash: 4.9% of total assets), and 29.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 84
Relative position
BE, all sectors
reference
Sector 84
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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
70.9%
Return on assets
1.4%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 12-01-2026, 19 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
19 d early
2024
8 d early
2023
42 d early
2022
43 d early
2021
17 d early
2020
52 d early
2019
9 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close24-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€3.94M▲ 1.9%
2024 · €3.87M
2019: €3.95M
2020: €3.75M
2021: €4.02M
2022: €4.05M
2023: €3.92M
2024: €3.87M
2019 → 2025
Total assets
€5.56M▲ 1.8%
2024 · €5.46M
2019: €5.51M
2020: €5.30M
2021: €5.59M
2022: €5.64M
2023: €5.48M
2024: €5.46M
2019 → 2025
Net result
€75k
2024 · €-59k
2019: €15k
2020: €-204k
2021: €267k
2022: €37k
2023: €-129k
2024: €-59k
2019 → 2025
Working capital
€2.71M▲ 7.8%
2024 · €2.51M
2019: €2.65M
2020: €2.51M
2021: €2.84M
2022: €2.89M
2023: €2.74M
2024: €2.51M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€4.02M-€4.05M▲ 0.9%€3.92M▼ 3.2%€3.87M▼ 1.5%€3.94M▲ 1.9%
Operating result€-61k-€-130k▼ 114%€-142k▼ 9.5%€-204k▼ 43.8%€-143k▲ 29.8%
Net result€267k-€37k▼ 86.2%€-129k€-59k▲ 54.1%€75k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €143k in 2025 against €204k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.56M
Fixed assets
€2.69M ▼ 4.3%
Current assets
€2.87M ▲ 8.3%
Equity and liabilities €5.56M
Equity
€3.94M ▲ 1.9%
Debt
€1.61M ▲ 1.5%
Debt's share of the balance-sheet total falls from 29.2% to 29.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€33k▲
2024 · €-20k
Cash flow
€251k▲
2024 · €126k
Current ratio
17.53▼
2024 · 18.94
Debt to equity
0.41▼
2024 · 0.41
ROE
1.9%▲
2024 · -1.5%
ROA
1.4%▲
2024 · -1.1%
Interest coverage
1.97▲
2024 · -0.16
Debt ≤ 1 year
€164k▲
2024 · €140k
Debt > 1 year
€1.39M=
2024 · €1.39M
Income taxes
€8k▲
2024 · €0
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 52 lines
Balance sheet
Code20242025
Assets
Total assets20/58€5.46M€5.56M▲
Fixed assets21/28€2.81M€2.69M▼
Tangible fixed assets22/27€1.49M€1.37M▼
Land and buildings22€1.48M€1.36M▼
Plant, machinery and equipment23€5k€4k▼
Financial fixed assets28€1.32M€1.32M=
Current assets29/58€2.65M€2.87M▲
Amounts receivable within one year40/41€378k€315k▼
Trade receivables40€67k€40k▼
Other amounts receivable41€311k€275k▼
Current investments50/53€2.18M€2.26M▲
Cash at bank and in hand54/58€73k€270k▲
Deferred charges and accrued income490/1€21k€21k=
Equity and liabilities
Total equity and liabilities10/49€5.46M€5.56M▲
Equity10/15€3.87M€3.94M▲
Contributions10/11€615k€615k=
Capital10€580k€580k=
Issued capital100€580k€580k=
Outside capital11€35k€35k=
Share premium1100/10€35k€35k=
Reserves13€465k€540k▲
Non-distributable reserves130/1€90k€90k=
Legal reserve130€90k€90k=
Distributable reserves133€375k€450k▲
Profit (loss) carried forward14€2.79M€2.79M=
Amounts payable17/49€1.59M€1.61M▲
Amounts payable after more than one year17€1.39M€1.39M=
Financial debts170/4€1.39M€1.39M=
Amounts payable within one year42/48€140k€164k▲
Trade debts44€25k€9k▼
Suppliers440/4€25k€9k▼
Taxes, remuneration and social security45€18k€8k▼
Taxes450/3€13k€4k▼
Remuneration and social security454/9€5k€5k=
Other amounts payable47/48€97k€147k▲
Accrued charges and deferred income492/3€63k€63k=
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€185k€176k▼
Other operating charges640/8€57k€39k▼
Gross operating margin9900€37k€72k▲
Operating profit (loss)9901€-204k€-143k▲
Financial income75/76B€266k€243k▼
Recurring financial income75€266k€243k▼
Financial charges65/66B€120k€17k▼
Recurring financial charges65€120k€17k▼
Profit (loss) for the period before taxes9903€-59k€83k▲
Income taxes67/77€0€8k▲
Profit (loss) for the period9904€-59k€75k▲
Profit (loss) for the period to be appropriated9905€-59k€75k▲
Appropriation of the result
Profit (loss) to be appropriated9906€2.79M€2.86M▲
Profit (loss) brought forward from the previous period14P€2.85M€2.79M▼
Transfer to equity691/2€977€75k▲
To other reserves6921€977€75k▲
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
23-09
State Gazette act
Appointments: Nicholas VANGROENWEGHE, Elise DIRVEN and Heidi VANGROENWEGHEReappointments: INDELEC (director) and Heidi VANGROENWEGHE (director) · Permanent representative: Lucien VANGROENWEGHE13 facts ▸
State Gazette act
Appointments: Nicholas VANGROENWEGHE, Elise DIRVEN and Heidi VANGROENWEGHE
Reappointments: INDELEC (director) and Heidi VANGROENWEGHE (director) · Permanent representative: Lucien VANGROENWEGHE13 facts ▸
- General meeting, 01-07-2026
- Director appointment, Nicholas VANGROENWEGHE (bijkomende (niet statutaire) bestuurder)
- Director appointment, Elise DIRVEN (bijkomende (niet statutaire) bestuurder)
- Director reappointment, INDELEC (director)
- Permanent representative, Lucien VANGROENWEGHE (permanent representative)
- Director reappointment, Heidi VANGROENWEGHE (director)
- Director reappointment, INDELEC (managing director)
- Director reappointment, Heidi VANGROENWEGHE (managing director)
- Director appointment, Heidi VANGROENWEGHE (chair of the board)
- Board composition, Nicholas VANGROENWEGHE (director)
- Board composition, Elise DIRVEN (director)
- Board composition, INDELEC (director and managing director)
- +1 further facts in this act
12-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-06
Financial
Back to profitnet €75k
Net result €75k after 2 loss-making years.
23-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
20-12
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
19-12
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
14-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-06
Financial
Back to profitnet €267k
Net result €267k after one loss-making year.
2020
10-12
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
30-06
Financial
Weakest financial yearnet €-204k ▼1426%
Net result drops to €-204k, the lowest in the series; recovery starts the following year.
22-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
20-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
26-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
27-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
under verification, no change since 2026
This board is reconstructed from a single act (26119189). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Elise DIRVEN
CurrentBijkomende (niet statutaire) bestuurder · since 01-07-2026
Heidi VANGROENWEGHE
CurrentDirector · since 01-07-2026
INDELEC
CurrentDirector · since 01-07-2026 · Legal entity · perm. rep.: Lucien VANGROENWEGHE
Nicholas VANGROENWEGHE
CurrentBijkomende (niet statutaire) bestuurder · since 01-07-2026
01-07-2026
Elise DIRVEN: Appointed as Bijkomende (niet statutaire) bestuurder
01-07-2026
Heidi VANGROENWEGHE: Mandate renewed as Director
01-07-2026
Heidi VANGROENWEGHE: Mandate renewed as Managing director
01-07-2026
Heidi VANGROENWEGHE: Appointed as Chair of the board
01-07-2026
INDELEC: Mandate renewed as Director
Location & real-estate footprint
Registered office, Gent · 1 establishment unit since 2003
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Jan zonder Vreesstraat 469000 GentGround area
538 m²
Building footprint
235 m²
Volume, LiDAR
2,715 m³
Parcel 44804D2835/00W007, Flanders · tallest building 15.3 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Pavan
since 20032.331.697.678
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44804D2835/00W007 | Flanders | 538 m² | 1 · 235 m² | 15.3 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Articles of association
Who signs
A managing director alone
Daily management
The delegates act alone
Recognitions · licences · registrations
Legal Entity Identifier
967600MJALKEWW83XW90
Similar companies · same sector, comparable size
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REGIE COMMUNALE AUTONOME ERIGES
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Interregionale entiteit VIAPASS
BE 0558.940.031
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Long Duration Energy Storage Council
BE 0784.823.238
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Of 146 companies in sector 84130 we hold annual accounts for 51. 25 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded29-04-1982
Fiscal year end30-06
Activities, NACEBEL 2025
84130Public administration and defence; compulsory social security
68201Renting and operating of own or leased residential real estate, excluding social housing
Sources
Crossroads Bank for EnterprisesNational Bank · 41 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.