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 €10.2m and a net result of -€286,764. Equity is growing by ~10.5% per year across the filed fiscal years. Its solvency ranks better than 52% of 4926 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
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 €120,000 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
Open the credit simulator : see how the verdict changes with amount, term and advance.
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
Wholesale trade (NACE 46)
about 21% 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 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 →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 3 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
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 close27-09-2026 today31-01-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Subsidy mirror How does this company compare with its sector?Sector benchmark
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
In the rankings
#8 company by total assets in Izegem, Wholesale and retail trade sector#9 company by equity in Izegem, Wholesale and retail trade sector
Turnover
€1.2m▼ 60.6%
2024 · €3.1m
EBIT margin
5.1%▼ 59.6pp
2024 · 64.7%
Net result
-€286,764
2024 · €3.6m
Working capital
-€4.8m▼ 16.9%
2024 · -€4.1m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€842,369▲ 5.0%€1.6m▲ 92.5%€2.1m▲ 30.1%€3.1m▲ 48.7%€1.2m▼ 60.6%
Operating result€171,534▼ 1.1%€1.2m▲ 597%€1.8m▲ 54.5%€2.0m▲ 9.8%€63,478▼ 96.9%
Net result-€99,062▲ 95.0%€1.1m€2.7m▲ 143%€3.6m▲ 31.8%-€286,764
EBIT margin20.4%▼ 1.3pp73.8%▲ 53.4pp87.6%▲ 13.9pp64.7%▼ 22.9pp5.1%▼ 59.6pp
Equity€5.2m▼ 16.8%€5.9m▲ 14.0%€7.5m▲ 27.3%€10.6m▲ 40.6%€10.2m▼ 3.1%
Total assets€15.6m▲ 1.0%€14.7m▼ 6.1%€16.0m▲ 9.2%€21.1m▲ 32.0%€21.8m▲ 3.0%
Debt€10.4m▲ 13.1%€8.8m▼ 16.1%€8.5m▼ 3.1%€10.5m▲ 24.3%€11.5m▲ 9.2%
Working capital-€2.4m▼ 65.9%-€2.2m▲ 10.4%-€575,393▲ 73.6%-€4.1m▼ 617%-€4.8m▼ 16.9%
Staff (FTE)6.9=7.4▲ 7.2%4.7▼ 36.5%5.8▲ 23.4%8.9▲ 53.4%
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 €21.8m
Fixed assets
€21.5m ▲ 3.8%
Current assets
€220,588 ▼ 40.9%
Equity and liabilities €21.8m
Equity
€10.2m ▼ 3.1%
Debt
€11.5m ▲ 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
€133,478▼
2024 · €2.1m
Cash flow
-€216,764▼
2024 · €3.7m
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
€5.0m▲
2024 · €4.5m
Debt > 1 year
€6.5m▲
2024 · €6.0m
Income taxes
-€1,512▼
2024 · €170,660
Staff costs
€462,061▲
2024 · €383,478
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €2.3m | €3.0m | €3.3m | €1.4m | ▼ 57.3% |
| Turnover70 | €842,369 | €1.6m | €2.1m | €3.1m | €1.2m | ▼ 60.6% |
| Other operating income74 | - | €176,201 | €208,655 | €144,451 | €164,158 | ▲ 13.6% |
| Non-recurring operating income76A | - | €552,000 | €709,959 | - | - | - |
| Operating charges60/66A | - | €1.2m | €1.2m | €1.3m | €1.3m | ▲ 6.8% |
| Services and other goods61 | - | €682,485 | €804,016 | €796,395 | €802,729 | ▲ 0.8% |
| Remuneration, social security and pensions62 | - | €389,762 | €299,028 | €383,478 | €462,061 | ▲ 20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €80,000 | €80,000 | €75,000 | €70,000 | €70,000 | = |
| Other operating charges640/8 | - | €1,300 | €1,814 | €1,436 | €1,667 | ▲ 16.1% |
| Operating profit (loss)9901 | €171,534 | €1.2m | €1.8m | €2.0m | €63,478 | ▼ 96.9% |
| Financial income75/76B | - | €367,426 | €1.1m | €2.0m | €2,363 | ▼ 99.9% |
| Recurring financial income75 | €6,991 | €367,426 | €1.1m | €2.0m | €2,363 | ▼ 99.9% |
| Income from financial fixed assets750 | - | €350,000 | €1.1m | €2.0m | - | - |
| Income from current assets751 | - | €5,834 | €4,677 | €37,405 | €2,363 | ▼ 93.7% |
| Other financial income752/9 | - | €11,592 | - | - | - | - |
| Financial charges65/66B | - | €272,198 | €227,804 | €293,025 | €354,116 | ▲ 20.8% |
| Recurring financial charges65 | €277,755 | €272,198 | €227,804 | €293,025 | €354,116 | ▲ 20.8% |
| Debt charges650 | - | - | - | - | €354,116 | - |
| Other financial charges652/9 | - | €272,198 | €227,804 | €293,025 | - | - |
| Profit (loss) for the period before taxes9903 | -€99,230 | €1.3m | €2.7m | €3.8m | -€288,275 | ▼ 108% |
| Income taxes67/77 | -€168 | €166,051 | - | €170,660 | -€1,512 | ▼ 101% |
| Taxes670/3 | - | €166,051 | - | €170,660 | - | - |
| Tax adjustments and reversals of tax provisions77 | - | - | - | - | €1,512 | - |
| Profit (loss) for the period9904 | -€99,062 | €1.1m | €2.7m | €3.6m | -€286,764 | ▼ 108% |
| Profit (loss) for the period to be appropriated9905 | -€99,062 | €1.1m | €2.7m | €3.6m | -€286,764 | ▼ 108% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €15.6m | €14.7m | €16.0m | €21.1m | €21.8m | ▲ 3.0% |
| Fixed assets21/28 | €14.3m | €14.2m | €14.4m | €20.7m | €21.5m | ▲ 3.8% |
| Intangible fixed assets21 | €440,329 | €360,329 | €245,288 | €175,288 | €105,288 | ▼ 39.9% |
| Financial fixed assets28 | €13.9m | €13.9m | €14.1m | €20.6m | €21.4m | ▲ 4.2% |
| Affiliated companies280/1 | - | €13.9m | €14.1m | €20.6m | €21.4m | ▲ 4.2% |
| Participating interests280 | - | €13.9m | €14.1m | €20.6m | €21.4m | ▲ 4.2% |
| Current assets29/58 | €1.3m | €429,287 | €1.6m | €373,420 | €220,588 | ▼ 40.9% |
| Amounts receivable after more than one year29 | - | €225,000 | €160,714 | €96,429 | €32,143 | ▼ 66.7% |
| Other amounts receivable291 | - | €225,000 | €160,714 | €96,429 | €32,143 | ▼ 66.7% |
| Amounts receivable within one year40/41 | €963,534 | €164,398 | €1.5m | €221,899 | €159,852 | ▼ 28.0% |
| Trade receivables40 | - | €100,113 | €92,797 | €74,604 | €94,741 | ▲ 27.0% |
| Other amounts receivable41 | - | €64,286 | €1.4m | €147,296 | €65,111 | ▼ 55.8% |
| Cash at bank and in hand54/58 | €43,369 | €37,527 | €21,264 | €52,629 | €26,098 | ▼ 50.4% |
| Deferred charges and accrued income490/1 | - | €2,361 | €2,078 | €2,463 | €2,495 | ▲ 1.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €15.6m | €14.7m | €16.0m | €21.1m | €21.8m | ▲ 3.0% |
| Equity10/15 | €5.2m | €5.9m | €7.5m | €10.6m | €10.2m | ▼ 3.1% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €5.1m | €5.8m | €7.5m | €10.5m | €10.2m | ▼ 3.2% |
| Non-distributable reserves130/1 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | - | €5.8m | €7.5m | €10.5m | €10.2m | ▼ 3.2% |
| Profit (loss) carried forward14 | €607 | - | - | - | - | - |
| Amounts payable17/49 | €10.4m | €8.8m | €8.5m | €10.5m | €11.5m | ▲ 9.2% |
| Amounts payable after more than one year17 | €6.7m | €6.1m | €6.2m | €6.0m | €6.5m | ▲ 7.1% |
| Financial debts170/4 | - | €6.0m | €6.0m | €6.0m | €6.5m | ▲ 7.8% |
| Credit institutions173 | - | - | - | - | €392,857 | - |
| Other loans174 | - | €6.0m | €6.0m | €6.0m | €6.1m | ▲ 1.3% |
| Other amounts payable178/9 | - | €138,000 | €221,333 | €41,667 | - | - |
| Amounts payable within one year42/48 | €3.7m | €2.6m | €2.2m | €4.5m | €5.0m | ▲ 12.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €96,429 | - |
| Financial debts43 | - | - | - | €250,000 | - | - |
| Credit institutions430/8 | - | - | - | €250,000 | - | - |
| Trade debts44 | €64,859 | €67,844 | €7,510 | €77,924 | €80,673 | ▲ 3.5% |
| Suppliers440/4 | - | €67,844 | €7,510 | €77,924 | €80,673 | ▲ 3.5% |
| Taxes, remuneration and social security45 | - | €243,705 | €44,484 | €55,243 | €67,413 | ▲ 22.0% |
| Taxes450/3 | - | €203,564 | €3,497 | €3,260 | €4,545 | ▲ 39.4% |
| Remuneration and social security454/9 | - | €40,141 | €40,987 | €51,983 | €62,868 | ▲ 20.9% |
| Other amounts payable47/48 | - | €2.3m | €2.2m | €4.1m | €4.8m | ▲ 16.6% |
| Accrued charges and deferred income492/3 | - | €1,982 | €46,437 | €3,694 | €1,750 | ▼ 52.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€99,062 | €1.1m | €2.7m | €3.6m | -€286,764 | ▼ 108% |
| + Depreciation and write-downs630 | €80,000 | €80,000 | €75,000 | €70,000 | €70,000 | = |
| Operating cash flow (approximation) | -€19,062 | €1.2m | €2.8m | €3.7m | -€216,764 | ▼ 106% |
| Investment in fixed assets (approximation) | - | €0 | -€209,959 | -€6.5m | -€861,620 | ▲ 86.6% |
| Change in cash | - | -€5,842 | -€16,263 | €31,365 | -€26,531 | ▼ 185% |
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
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 €3.6m ▲31.8%
Operating result €2.0m, net result €3.6m, both a record.
30-06
Financial
Equity above €10mEq €10.6m ▲40.6%
3 profitable years in a row build equity to €10.6m.
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 €1.1m
Net result €1.1m 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 -€2.0m
Net result drops to -€2.0m, 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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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.
5
companies at this address
See who is registered here
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
Good to know
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
Owners and holdings
2 owners · 5 holdingsOwners 2
-
50%
-
50%
Holdings 5
-
100%
-
100%
-
100%
-
100%
-
99.7%
According to the annual accounts to 30-06-2025 of SIVAN and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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 |
Similar companies · same sector, comparable size
BELGIAN BOILER COMPANY
BE 0462.150.659
Laarne · Eq €10,391,215
POWERDEAL
BE 0830.787.083
Herstal · Eq €8,819,909
Verkoop Carnoy Negoce
BE 0400.017.112
Gent · Eq €8,762,044
COWALCA
BE 0421.052.452
Namur · Eq €12,210,535
CAIROX BELGIUM
BE 0451.428.496
Zaventem · Eq €12,512,677
Of 473 companies in sector 46842 we hold annual accounts for 346. 119 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
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
E-invoicing
Reachable via Peppol
Peppol ID
0208:0457970751
Registered
24-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.