SIVAN
ActiveSummary
SIVAN has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10.24M and a net result of €-287k. Equity is growing by ~10.5% per year across the filed fiscal years. Its solvency ranks better than 52% of 4867 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
59
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability35▼-58
Solvency72▼-3
Growth48▼-37
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €120k at 30 days acceptable
Liquidity short (current ratio 0.04 against 0.08 in 2024; short-term debt: 23.2% and cash: 0.1% of total assets), and 52.9% 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 46
Relative position
BE, all sectors
reference
Sector 46
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
47.1%
Return on assets
-1.3%
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 29-01-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
4 d early
2023
2 d early
2022
4 d early
2021
3 d early
2020
3 d early
2019
1 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, full schema
Turnover
€1.24M▼ 60.6%
2024 · €3.14M
2019: €1.13M
2020: €802k
2021: €842k
2022: €1.62M
2023: €2.11M
2024: €3.14M
2019 → 2025
EBIT margin
5.1%▼ 59.6pp
2024 · 64.7%
2019: 32.2%
2020: 21.6%
2021: 20.4%
2022: 73.8%
2023: 87.6%
2024: 64.7%
2019 → 2025
Net result
€-287k
2024 · €3.60M
2019: €347k
2020: €-1.99M
2021: €-99k
2022: €1.13M
2023: €2.74M
2024: €3.60M
2019 → 2025
Working capital
€-4.83M▼ 16.9%
2024 · €-4.13M
2019: €-1.98M
2020: €-1.47M
2021: €-2.44M
2022: €-2.18M
2023: €-575k
2024: €-4.13M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€842k-€1.62M▲ 92.5%€2.11M▲ 30.1%€3.14M▲ 48.7%€1.24M▼ 60.6%
Equity€5.18M-€5.91M▲ 14.0%€7.52M▲ 27.3%€10.58M▲ 40.6%€10.24M▼ 3.1%
Operating result€172k-€1.20M▲ 597%€1.85M▲ 54.5%€2.03M▲ 9.8%€63k▼ 96.9%
Net result€-99k-€1.13M€2.74M▲ 143%€3.60M▲ 31.8%€-287k
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 97% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €21.76M
Fixed assets
€21.54M ▲ 3.8%
Current assets
€221k ▼ 40.9%
Equity and liabilities €21.76M
Equity
€10.24M ▼ 3.1%
Debt
€11.52M ▲ 9.2%
Debt's share of the balance-sheet total rises from 49.9% to 52.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€133k▼
2024 · €2.10M
Cash flow
€-217k▼
2024 · €3.67M
Current ratio
0.04▼
2024 · 0.08
Debt to equity
1.12▲
2024 · 1.00
ROE
-2.8%▼
2024 · 34.1%
ROA
-1.3%▼
2024 · 17.1%
Interest coverage
0.38▼
2024 · 7.17
Debt ≤ 1 year
€5.05M▲
2024 · €4.50M
Debt > 1 year
€6.47M▲
2024 · €6.04M
Income taxes
€-2k▼
2024 · €171k
Staff costs
€462k▲
2024 · €383k
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 · 72 lines
Balance sheet
Code20242025
Assets
Total assets20/58€21.12M€21.76M▲
Fixed assets21/28€20.75M€21.54M▲
Intangible fixed assets21€175k€105k▼
Financial fixed assets28€20.57M€21.43M▲
Affiliated companies280/1€20.57M€21.43M▲
Participating interests280€20.57M€21.43M▲
Current assets29/58€373k€221k▼
Amounts receivable after more than one year29€96k€32k▼
Other amounts receivable291€96k€32k▼
Amounts receivable within one year40/41€222k€160k▼
Trade receivables40€75k€95k▲
Other amounts receivable41€147k€65k▼
Cash at bank and in hand54/58€53k€26k▼
Deferred charges and accrued income490/1€2k€2k▲
Equity and liabilities
Total equity and liabilities10/49€21.12M€21.76M▲
Equity10/15€10.58M€10.24M▼
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€10.51M€10.18M▼
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Distributable reserves133€10.51M€10.18M▼
Amounts payable17/49€10.54M€11.52M▲
Amounts payable after more than one year17€6.04M€6.47M▲
Financial debts170/4€6.00M€6.47M▲
Credit institutions173-€393k
Other loans174€6.00M€6.08M▲
Other amounts payable178/9€42k-
Amounts payable within one year42/48€4.50M€5.05M▲
Current portion of amounts payable after more than one year42-€96k
Financial debts43€250k-
Credit institutions430/8€250k-
Trade debts44€78k€81k▲
Suppliers440/4€78k€81k▲
Taxes, remuneration and social security45€55k€67k▲
Taxes450/3€3k€5k▲
Remuneration and social security454/9€52k€63k▲
Other amounts payable47/48€4.12M€4.80M▲
Accrued charges and deferred income492/3€4k€2k▼
Income statement
Code20242025
Operating income70/76A€3.28M€1.40M▼
Turnover70€3.14M€1.24M▼
Other operating income74€144k€164k▲
Operating charges60/66A€1.25M€1.34M▲
Services and other goods61€796k€803k▲
Remuneration, social security and pensions62€383k€462k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€70k€70k=
Other operating charges640/8€1k€2k▲
Operating profit (loss)9901€2.03M€63k▼
Financial income75/76B€2.04M€2k▼
Recurring financial income75€2.04M€2k▼
Income from financial fixed assets750€2.00M-
Income from current assets751€37k€2k▼
Financial charges65/66B€293k€354k▲
Recurring financial charges65€293k€354k▲
Debt charges650-€354k
Other financial charges652/9€293k-
Profit (loss) for the period before taxes9903€3.77M€-288k▼
Income taxes67/77€171k€-2k▼
Taxes670/3€171k-
Tax adjustments and reversals of tax provisions77-€2k
Profit (loss) for the period9904€3.60M€-287k▼
Profit (loss) for the period to be appropriated9905€3.60M€-287k▼
Appropriation of the result
Profit (loss) to be appropriated9906€3.60M€-287k▼
Transfer from equity791/2-€332k
From reserves792-€332k
Transfer to equity691/2€3.05M-
To other reserves6921€3.05M-
Profit to be distributed694/7€550k€45k▼
Return on contributions (dividend)694€275k€23k▼
Directors or managers695€275k€23k▼
Social balance
Average headcount (FTE)90875.88.9▲
The notes to these accounts (44 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
16-07
State Gazette act
Incorporation · Founder
Founding capital · Bank account
29-01
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
27-01
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
30-06
Financial
Highest result since 2019net €3.60M ▲31.8%
Operating result €2.03M, net result €3.60M, both a record.
30-06
Financial
Equity above €10MEq €10.58M ▲40.6%
3 profitable years in a row build equity to €10.58M.
29-01
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
27-01
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
05-01
State Gazette act
Demerger · Establishment
Agreement · Affiliation
2022
30-11
State Gazette act
Demerger · Accounting effect
Permanent representative
30-06
Financial
Back to profitnet €1.13M
Net result €1.13M after 2 loss-making years.
28-01
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
28-01
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
Show earlier events
2020
30-06
Financial
Weakest financial yearnet €-1.99M ▼673%
Net result drops to €-1.99M, the lowest in the series; recovery starts the following year.
30-01
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
23-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
23-12
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.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Izegem · 1 establishment unit since 1996
Ground area
1.4 ha
Building footprint
7,967 m²
Volume, LiDAR
50,748 m³
2 parcels, Flanders · tallest building 9.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
SIVAN NV
since 19962.076.717.144
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36494D0285/00H000 | Flanders | 1.1 ha | 1 · 6,694 m² | 9.4 m · 2 fl. |
| 36494D0268/00E000 | Flanders | 2,264 m² | 1 · 1,273 m² | 6.8 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Acquisitions and mergers
1 transactionSplit off to:TECTUM GROUP NV
Public money · subsidies and aid
Flemish government
2022 to 2024 · 3 entries · 13,865 EUR awarded · 13,865 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 365 EUR | 365 EUR |
| 2023 | 1 | 6,000 EUR | 13,500 EUR |
| 2022 | 1 | 7,500 EUR | 0 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 473 companies in sector 46842 we hold annual accounts for 346. 117 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
Founded14-05-1996
Fiscal year end30-06
Activities, NACEBEL 2025
46842Wholesale trade
23610Manufacture of other non-metallic mineral products
46190Agents in non-specialised wholesale trade
47521Retail sale of hardware, building materials, paint and glass (general range)
70200Business and other management consultancy
77229Renting and leasing of other personal and household goods
Sources
Crossroads Bank for EnterprisesNational Bank · 29 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.