ROVASAC
ActiveSummary
ROVASAC has been active since 1984 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.17M and a net result of €31k. Equity is growing by ~2.7% per year across the filed fiscal years. Its solvency ranks better than 95% of 69 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability72▲+39
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €90k at 30 days acceptable
Liquidity ample (current ratio 8.73 against 20.82 in 2023; short-term debt: 10.1% and cash: 11.1% of total assets), and 10.3% 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+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 17
Relative position
BE, all sectors
reference
Manufacture of paper and paper products (NACE 17)
about 49% 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 2024Solvency, return and age of the figures
Solvency
89.7%
Return on assets
2.4%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 18-06-2025, 43 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
43 d early
2023
21 d early
2022
31 d late
2021
26 d late
2020
29 d early
2019
38 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€1.17M▲ 2.7%
2023 · €1.14M
2018: €937klowest in 7 years
2019: €1.04M▲ +11.2% vs 2018
2020: €1.11M▲ +6.6% vs 2019
2021: €1.14M▲ +2.8% vs 2020
2022: €1.14M▲ +0.2% vs 2021
2023: €1.14M▼ -0.2% vs 2022
2024: €1.17M▲ +2.7% vs 2023highest in 7 years
2018 → 2024
Total assets
€1.31M▲ 9.3%
2023 · €1.19M
2018: €1.29M
2019: €1.21M▼ -6.8% vs 2018
2020: €1.21M▲ +0.8% vs 2019
2021: €1.21M▼ -0.3% vs 2020
2022: €1.23M▲ +1.9% vs 2021
2023: €1.19M▼ -3.2% vs 2022lowest in 7 years
2024: €1.31M▲ +9.3% vs 2023highest in 7 years
2018 → 2024
Net result
€31k
2023 · €-3k
2018: €-27klowest in 7 years
2019: €105k▲ +489% vs 2018highest in 7 years
2020: €69k▼ -34.6% vs 2019
2021: €31k▼ -54.5% vs 2020
2022: €2k▼ -92.7% vs 2021
2023: €-3k▼ -217% vs 2022
2024: €31k▲ +1255% vs 2023
2018 → 2024
Working capital
€1.02M▼ 0.5%
2023 · €1.03M
2018: €882klowest in 7 years
2019: €954k▲ +8.2% vs 2018
2020: €1.01M▲ +6.3% vs 2019
2021: €1.04M▲ +2.2% vs 2020highest in 7 years
2022: €997k▼ -3.8% vs 2021
2023: €1.03M▲ +3.0% vs 2022
2024: €1.02M▼ -0.5% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€1.11M-€1.14M▲ 2.8%€1.14M▲ 0.2%€1.14M▼ 0.2%€1.17M▲ 2.7%
2020: €1.11Mlowest in 5 years
2021: €1.14M▲ +2.8% vs 2020
2022: €1.14M▲ +0.2% vs 2021
2023: €1.14M▼ -0.2% vs 2022
2024: €1.17M▲ +2.7% vs 2023highest in 5 years
Operating result€58k-€11k▼ 81.1%€-29k€-33k▼ 14.5%€17k
2020: €58khighest in 5 years
2021: €11k▼ -81.1% vs 2020
2022: €-29k▼ -364% vs 2021
2023: €-33k▼ -14.5% vs 2022lowest in 5 years
2024: €17k▲ +151% vs 2023
Net result€69k-€31k▼ 54.5%€2k▼ 92.7%€-3k€31k
2020: €69khighest in 5 years
2021: €31k▼ -54.5% vs 2020
2022: €2k▼ -92.7% vs 2021
2023: €-3k▼ -217% vs 2022lowest in 5 years
2024: €31k▲ +1255% vs 2023
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €17k after a loss of €33k in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.31M
Fixed assets
€152k ▲ 31.6%
Current assets
€1.15M ▲ 6.9%
Equity and liabilities €1.31M
Equity
€1.17M ▲ 2.7%
Debt
€134k ▲ 150%
Debt's share of the balance-sheet total rises from 4.5% to 10.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€53k▲
2023 · €10k
Cash flow
€67k▲
2023 · €41k
Current ratio
8.73▼
2023 · 20.82
Quick ratio
7.91▼
2023 · 19.28
Debt to equity
0.11▲
2023 · 0.05
ROE
2.6%▲
2023 · -0.2%
ROA
2.4%▲
2023 · -0.2%
Interest coverage
19.07▲
2023 · 1.73
Debt ≤ 1 year
€132k▲
2023 · €52k
Income taxes
€11k▲
2023 · €299
Staff costs
€198k▲
2023 · €188k
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 · 2024 against 2023 · 52 lines
Balance sheet
Code20232024
Assets
Total assets20/58€1.19M€1.31M▲
Fixed assets21/28€116k€152k▲
Tangible fixed assets22/27€115k€152k▲
Land and buildings22€37k€37k=
Furniture and vehicles24€78k€115k▲
Financial fixed assets28€405€405=
Current assets29/58€1.08M€1.15M▲
Stocks and contracts in progress3€80k€107k▲
Stocks30/36€80k€107k▲
Amounts receivable within one year40/41€145k€304k▲
Trade receivables40€120k€292k▲
Other amounts receivable41€25k€12k▼
Current investments50/53€580k€590k▲
Cash at bank and in hand54/58€268k€145k▼
Deferred charges and accrued income490/1€6k€7k▲
Equity and liabilities
Total equity and liabilities10/49€1.19M€1.31M▲
Equity10/15€1.14M€1.17M▲
Contributions10/11€280k€280k=
Capital10€280k€280k=
Issued capital100€280k€280k=
Reserves13€861k€892k▲
Non-distributable reserves130/1€28k€28k=
Legal reserve130€28k€28k=
Tax-exempt reserves132€38k€38k=
Distributable reserves133€795k€826k▲
Amounts payable17/49€54k€134k▲
Amounts payable within one year42/48€52k€132k▲
Trade debts44€8k€100k▲
Suppliers440/4€8k€100k▲
Taxes, remuneration and social security45€43k€32k▼
Taxes450/3€17k€6k▼
Remuneration and social security454/9€26k€27k▲
Other amounts payable47/48€850-
Accrued charges and deferred income492/3€2k€2k▲
Income statement
Code20232024
Remuneration, social security and pensions62€188k€198k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€43k€36k▼
Other operating charges640/8€68k€68k▲
Gross operating margin9900€266k€319k▲
Operating profit (loss)9901€-33k€17k▲
Financial income75/76B€37k€28k▼
Recurring financial income75€37k€28k▼
Financial charges65/66B€6k€3k▼
Recurring financial charges65€6k€3k▼
Profit (loss) for the period before taxes9903€-2k€42k▲
Income taxes67/77€299€11k▲
Profit (loss) for the period9904€-3k€31k▲
Profit (loss) for the period to be appropriated9905€-3k€31k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-3k€31k▲
Transfer from equity791/2€3k-
Transfer to equity691/2-€31k
To other reserves6921-€31k
Social balance
Average headcount (FTE)90874.14.0▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €166k | €198k | €188k | €198k | ▲ 4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25k | €26k | €39k | €43k | €36k | ▼ 16.4% |
| Other operating charges640/8 | - | €67k | €68k | €68k | €68k | ▲ 0.3% |
| Non-recurring operating charges66A | - | €507 | - | - | - | - |
| Gross operating margin9900 | €318k | €271k | €276k | €266k | €319k | ▲ 19.7% |
| Operating profit (loss)9901 | €58k | €11k | €-29k | €-33k | €17k | ▲ 151% |
| Financial income75/76B | - | €35k | €36k | €37k | €28k | ▼ 24.0% |
| Recurring financial income75 | €36k | €35k | €36k | €37k | €28k | ▼ 24.0% |
| Financial charges65/66B | - | €3k | €3k | €6k | €3k | ▼ 52.5% |
| Recurring financial charges65 | €2k | €3k | €3k | €6k | €3k | ▼ 52.5% |
| Profit (loss) for the period before taxes9903 | €92k | €43k | €4k | €-2k | €42k | ▲ 1,875% |
| Income taxes67/77 | €24k | €12k | €2k | €299 | €11k | ▲ 3,675% |
| Profit (loss) for the period9904 | €69k | €31k | €2k | €-3k | €31k | ▲ 1,255% |
| Profit (loss) for the period to be appropriated9905 | €69k | €31k | €2k | €-3k | €31k | ▲ 1,255% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.21M | €1.21M | €1.23M | €1.19M | €1.31M | ▲ 9.3% |
| Fixed assets21/28 | €107k | €107k | €159k | €116k | €152k | ▲ 31.6% |
| Tangible fixed assets22/27 | €106k | €106k | €159k | €115k | €152k | ▲ 31.7% |
| Land and buildings22 | - | €37k | €37k | €37k | €37k | = |
| Furniture and vehicles24 | - | €69k | €121k | €78k | €115k | ▲ 46.8% |
| Financial fixed assets28 | €405 | €405 | €405 | €405 | €405 | = |
| Current assets29/58 | €1.11M | €1.10M | €1.08M | €1.08M | €1.15M | ▲ 6.9% |
| Stocks and contracts in progress3 | €93k | €118k | €104k | €80k | €107k | ▲ 33.9% |
| Stocks30/36 | - | €118k | €104k | €80k | €107k | ▲ 33.9% |
| Amounts receivable within one year40/41 | €186k | €130k | €161k | €145k | €304k | ▲ 110% |
| Trade receivables40 | - | €107k | €129k | €120k | €292k | ▲ 143% |
| Other amounts receivable41 | - | €23k | €32k | €25k | €12k | ▼ 51.8% |
| Current investments50/53 | €669k | €661k | €519k | €580k | €590k | ▲ 1.8% |
| Cash at bank and in hand54/58 | €153k | €190k | €287k | €268k | €145k | ▼ 45.8% |
| Deferred charges and accrued income490/1 | - | €6k | €5k | €6k | €7k | ▲ 14.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.21M | €1.21M | €1.23M | €1.19M | €1.31M | ▲ 9.3% |
| Equity10/15 | €1.11M | €1.14M | €1.14M | €1.14M | €1.17M | ▲ 2.7% |
| Contributions10/11 | €280k | €280k | €280k | €280k | €280k | = |
| Capital10 | - | €280k | €280k | €280k | €280k | = |
| Issued capital100 | - | €280k | €280k | €280k | €280k | = |
| Reserves13 | €831k | €862k | €864k | €861k | €892k | ▲ 3.6% |
| Non-distributable reserves130/1 | - | €28k | €28k | €28k | €28k | = |
| Legal reserve130 | - | €28k | €28k | €28k | €28k | = |
| Tax-exempt reserves132 | - | €38k | €38k | €38k | €38k | = |
| Distributable reserves133 | - | €795k | €798k | €795k | €826k | ▲ 3.9% |
| Amounts payable17/49 | €104k | €70k | €90k | €54k | €134k | ▲ 150% |
| Amounts payable after more than one year17 | €8k | - | - | - | - | - |
| Amounts payable within one year42/48 | €94k | €68k | €78k | €52k | €132k | ▲ 155% |
| Trade debts44 | €14k | €17k | €23k | €8k | €100k | ▲ 1,155% |
| Suppliers440/4 | - | €17k | €23k | €8k | €100k | ▲ 1,155% |
| Taxes, remuneration and social security45 | - | €45k | €50k | €43k | €32k | ▼ 24.8% |
| Taxes450/3 | - | €15k | €12k | €17k | €6k | ▼ 66.8% |
| Remuneration and social security454/9 | - | €30k | €38k | €26k | €27k | ▲ 2.6% |
| Other amounts payable47/48 | - | €6k | €6k | €850 | - | - |
| Accrued charges and deferred income492/3 | - | €2k | €12k | €2k | €2k | ▲ 5.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €69k | €31k | €2k | €-3k | €31k | ▲ 1,255% |
| + Depreciation and write-downs630 | €25k | €26k | €39k | €43k | €36k | ▼ 16.4% |
| Operating cash flow (approximation) | €93k | €57k | €41k | €41k | €67k | ▲ 64.7% |
| Investment in fixed assets (approximation) | - | €-26k | €-92k | €0 | €-73k | - |
| Change in cash | - | €36k | €97k | €-19k | €-123k | ▼ 547% |
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
2025
18-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €31k
Net result €31k after one loss-making year.
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 26 days late
2021
02-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
23-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €105k
Net result €105k after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 8.94
Current ratio from 3.49 to 8.94; short-term debt falls from €355k to €120k.
31-12
Financial
Equity above €1MEq €1.04M ▲11.2%
Equity rises from €937k to €1.04M.
17-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
19-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
21-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Oudenaarde · 1 establishment unit since 1985
Ground area
9,661 m²
Building footprint
9,101 m²
Volume, LiDAR
69,204 m³
Parcel 45023A1467/00B000, Flanders · tallest building 11.2 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Meersbloem 25, 9700 Oudenaarde
since 19852.025.195.791
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45023A1467/00B000 | Flanders | 9,661 m² | 1 · 9,101 m² | 11.2 m · 3 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 5 entries · 5,153 EUR awarded · 5,153 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 764 EUR | 764 EUR |
| 2024 | 1 | 511 EUR | 511 EUR |
| 2022 | 3 | 3,878 EUR | 3,878 EUR |
Schemes
Subsidies ecologisch en veilig transport (stopgezet)
Vlaams opleidingsverlof (VOV)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 siteOudenaarde2.025.195.791
Legal Entity Identifier
967600JI51NBPTX6OT95
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Of 125 companies in sector 17120 we hold annual accounts for 92. 53 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded05-09-1984
Fiscal year end31-12
Activities, NACEBEL 2025
17120Manufacture of paper and paper products
22220Manufacture of rubber and plastic products
22210Manufacture of rubber and plastic products
46492Wholesale trade
Scores and ratios are computed by Checked and are not a credit decision.