SIVAHE
ActiveSIVAHE has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €154k and a net result of €44k. Equity is growing by ~41.6% per year across the filed fiscal years. Its solvency ranks better than 93% of 18024 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.5% (low).
Checked score
Score 2025
100
/ 100
Excellent▲ +7 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency100=
Growth78▲+26
Stability94
Bankruptcy probability, 12 months
1.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15k at 30 days acceptable
Liquidity ample (current ratio 9.89 against 23.37 in 2024), and 10.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 47
Relative position
BE, all sectors
reference
Sector 47
higher
← 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
89.3%
Return on assets
25.6%
Age of the figures
8 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-06-2026, 53 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
53 d early
2024
31 d early
2023
34 d early
2022
18 d late
← before the deadline
after the deadline →
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
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€154k▲ 40.2%
2024 · €110k
2022: €42k
2023: €72k
2024: €110k
2022 → 2025
Total assets
€172k▲ 47.7%
2024 · €117k
2022: €44k
2023: €77k
2024: €117k
2022 → 2025
Net result
€44k▲ 15.5%
2024 · €38k
2022: €39k
2023: €30k
2024: €38k
2022 → 2025
Working capital
€148k▲ 32.8%
2024 · €112k
2022: €42k
2023: €73k
2024: €112k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€42k-€72k▲ 70.5%€110k▲ 53.3%€154k▲ 40.2%
Operating result€49k-€37k▼ 23.9%€53k▲ 41.7%€60k▲ 14.7%
Net result€39k-€30k▼ 24.0%€38k▲ 28.9%€44k▲ 15.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 15% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €172k
Fixed assets
€7k
Current assets
€165k
Equity and liabilities €172k
Equity
€154k▲ 40.2%
Debt
€18k▲ 168%
The debt ratio rises from 5.9% to 10.7%: debt grows faster than equity.
Key figures and ratios
EBITDA
€62k
Cash flow
€46k
Solvency
89.3%▼
2024 · 94.1%
Current ratio
9.89▼
2024 · 23.37
Quick ratio
9.89▼
2024 · 23.37
Debt / equity
0.12▲
2024 · 0.06
ROE
28.7%▼
2024 · 34.8%
ROA
25.6%▼
2024 · 32.7%
Interest coverage
1606.17
Debt
€18k▲
2024 · €7k
Debt ≤ 1 year
€17k▲
2024 · €5k
Income taxes
€17k▲
2024 · €14k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€117k€172k▲
Fixed assets21/28-€7k
Tangible fixed assets22/27-€7k
Furniture and vehicles24-€7k
Current assets29/58€117k€165k▲
Amounts receivable within one year40/41€4€0▼
Other amounts receivable41€4€0▼
Cash at bank and in hand54/58€116k€165k▲
Deferred charges and accrued income490/1€156€156=
Equity and liabilities
Total equity and liabilities10/49€117k€172k▲
Equity10/15€110k€154k▲
Contributions10/11€3k€3k=
Reserves13€107k€151k▲
Distributable reserves133€107k€151k▲
Amounts payable17/49€7k€18k▲
Amounts payable within one year42/48€5k€17k▲
Trade debts44€360€0▼
Suppliers440/4€360€0▼
Taxes, remuneration and social security45€4k€11k▲
Taxes450/3€4k€11k▲
Other amounts payable47/48€854€6k▲
Accrued charges and deferred income492/3€2k€2k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€2k
Other operating charges640/8€899€1k▲
Gross operating margin9900€54k€63k▲
Operating profit (loss)9901€53k€60k▲
Financial income75/76B-€588
Recurring financial income75-€588
Financial charges65/66B€39€39▼
Recurring financial charges65€39€39▼
Profit (loss) for the period before taxes9903€53k€61k▲
Income taxes67/77€14k€17k▲
Profit (loss) for the period9904€38k€44k▲
Profit (loss) for the period to be appropriated9905€38k€44k▲
Appropriation of the result
Profit (loss) to be appropriated9906€38k€44k▲
Transfer to equity691/2€38k€44k▲
To other reserves6921€38k€44k▲
The notes to these accounts (5 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
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2022net €44k ▲15.5%
Operating result €60k, net result €44k, both a record.
31-12
Financial
Equity above €150kEq €154k ▲40.2%
4 profitable years in a row build equity to €154k.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €100kEq €110k ▲53.3%
3 profitable years in a row build equity to €110k.
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €30k ▼24%
Net result drops to €30k, the lowest in the series; recovery starts the following year.
18-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 18 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Hasselt · 1 establishment unit since 2021
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.
Baron A.de Heuschstraat 693721 HasseltGround area
2,478 m²
Building footprint
326 m²
Volume, LiDAR
1,528 m³
Parcel 73091B0790/00A000, Flanders · tallest building 8.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
SIVAHE
since 20212.320.959.778
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73091B0790/00A000 | Flanders | 2,478 m² | 1 · 326 m² | 8.7 m · 2 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.
Similar companies · same sector, comparable size
PHARMACIE HERZET - PRATTE
BE 0715.957.790
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Pharmacie Vallée Bailly
BE 0894.357.024
Braine-l'Alleud · Eq €154k
CFA Pharma
BE 0428.715.650
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APOTHEEK WINTERS MAASEIK
BE 0475.857.947
Maaseik · Eq €154k
APOTHEEK DE STERRE
BE 0458.740.219
Gent · Eq €154k
Of 5,209 companies in sector 47730 we hold annual accounts for 3,851. 3,554 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded17-08-2021
Fiscal year end31-12
Activities, NACEBEL
47730Retail sale of pharmaceutical products
21201Manufacture of basic pharmaceutical products and pharmaceutical preparations
21209Manufacture of basic pharmaceutical products and pharmaceutical preparations
47120Other non-specialised retail sale
47740Retail trade
47741Retail sale of medical and orthopaedic goods, excluding prescription glasses and lenses
47750Retail sale of cosmetics and toilet articles
47910Retail trade
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.