TIVAN
ActiveTIVAN has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €160k and a net result of €-3k. Equity is growing by ~4.4% per year across the filed fiscal years. Its solvency ranks better than 36% of 27711 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
61
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability59▼-1
Solvency59▲+4
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity short (current ratio 0.46 against 0.71 in 2024; short-term debt: 26.9% and cash: 3% of total assets), and 65.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← 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
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 22-07-2026, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
3 d early
2023
29 d late
2022
31 d late
2021
37 d late
2020
31 d late
2019
13 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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€160k▼ 1.9%
2024 · €163k
2018: €131k
2019: €120k
2020: €126k
2021: €129k
2022: €158k
2023: €157k
2024: €163k
2018 → 2025
Total assets
€464k▼ 13.9%
2024 · €539k
2018: €708k
2019: €665k
2020: €718k
2021: €681k
2022: €624k
2023: €574k
2024: €539k
2018 → 2025
Net result
€-3k
2024 · €7k
2018: €4k
2019: €-11k
2020: €7k
2021: €3k
2022: €29k
2023: €-581
2024: €7k
2018 → 2025
Working capital
€-67k▼ 58.9%
2024 · €-42k
2018: €-69k
2019: €-113k
2020: €-12k
2021: €-28k
2022: €-19k
2023: €-56k
2024: €-42k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€129k-€158k▲ 22.4%€157k▼ 0.6%€163k▲ 4.0%€160k▼ 1.9%
Operating result€20k-€53k▲ 170%€12k▼ 77.6%€27k▲ 123%€9k▼ 64.6%
Net result€3k-€29k▲ 852%€-581€7k€-3k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 65% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €464k
Fixed assets
€407k▼ 6.9%
Current assets
€58k▼ 43.7%
Equity and liabilities €464k
Equity
€160k▼ 1.9%
Debt
€304k▼ 19.1%
The debt ratio falls from 69.7% to 65.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€58k▼
2024 · €78k
Cash flow
€46k▼
2024 · €58k
Solvency
34.5%▲
2024 · 30.3%
Current ratio
0.46▼
2024 · 0.71
Quick ratio
0.27▼
2024 · 0.56
Debt / equity
1.90▼
2024 · 2.30
ROE
-1.7%▼
2024 · 4.1%
ROA
-0.6%▼
2024 · 1.2%
Interest coverage
4.89▲
2024 · 4.82
Debt
€304k▼
2024 · €376k
Debt ≤ 1 year
€125k▼
2024 · €145k
Debt > 1 year
€179k▼
2024 · €231k
Income taxes
€608▼
2024 · €4k
Staff costs
€70k▼
2024 · €77k
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€539k€464k▼
Fixed assets21/28€437k€407k▼
Tangible fixed assets22/27€437k€407k▼
Land and buildings22€258k€236k▼
Plant, machinery and equipment23€103k€93k▼
Furniture and vehicles24€12k€14k▲
Other tangible fixed assets26€64k€63k▼
Current assets29/58€103k€58k▼
Stocks and contracts in progress3€22k€24k▲
Stocks30/36€22k€24k▲
Amounts receivable within one year40/41€56k€13k▼
Trade receivables40€45k€7k▼
Other amounts receivable41€11k€6k▼
Cash at bank and in hand54/58€19k€14k▼
Deferred charges and accrued income490/1€6k€7k▲
Equity and liabilities
Total equity and liabilities10/49€539k€464k▼
Equity10/15€163k€160k▼
Contributions10/11€20k€20k=
Reserves13€115k€115k=
Tax-exempt reserves132€40k€40k=
Distributable reserves133€75k€75k=
Profit (loss) carried forward14€25k€22k▼
Investment grants15€3k€2k▼
Amounts payable17/49€376k€304k▼
Amounts payable after more than one year17€231k€179k▼
Financial debts170/4€227k€175k▼
Other amounts payable178/9€5k€5k=
Amounts payable within one year42/48€145k€125k▼
Current portion of amounts payable after more than one year42€51k€52k▲
Trade debts44€63k€35k▼
Suppliers440/4€63k€35k▼
Taxes, remuneration and social security45€7k€13k▲
Taxes450/3€3k€3k▼
Remuneration and social security454/9€3k€11k▲
Other amounts payable47/48€25k€25k▼
Income statement
Code20242025
Remuneration, social security and pensions62€77k€70k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€51k€49k▼
Other operating charges640/8€8k€8k▲
Non-recurring operating charges66A-€2k
Gross operating margin9900€163k€137k▼
Operating profit (loss)9901€27k€9k▼
Financial income75/76B€361€379▲
Recurring financial income75€361€379▲
Financial charges65/66B€16k€12k▼
Recurring financial charges65€16k€12k▼
Profit (loss) for the period before taxes9903€11k€-2k▼
Income taxes67/77€4k€608▼
Profit (loss) for the period9904€7k€-3k▼
Profit (loss) for the period to be appropriated9905€7k€-3k▼
Appropriation of the result
Profit (loss) to be appropriated9906€40k€22k▼
Profit (loss) brought forward from the previous period14P€33k€25k▼
Transfer to equity691/2€15k-
To the legal reserve6920€15k-
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
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €7k
Net result €7k after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Highest result since 2018net €29k ▲852%
Operating result €53k, net result €29k, both a record.
31-12
Financial
Equity above €150kEq €158k ▲22.4%
3 profitable years in a row build equity to €158k.
06-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 37 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Back to profitnet €7k
Net result €7k after one loss-making year.
13-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 13 days late
2019
31-12
Financial
Weakest financial yearnet €-11k ▼414%
Net result drops to €-11k, the lowest in the series; recovery starts the following year.
30-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 61 days late
2018
25-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 56 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Houthulst · 1 establishment unit since 2005
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.
Nijverheidsstraat 158650 HouthulstGround area
3,203 m²
Building footprint
1,451 m²
Volume, LiDAR
8,051 m³
Parcel 32006D0101/00D003, Flanders · tallest building 7.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
TIVAN
since 20052.147.161.019
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 32006D0101/00D003 | Flanders | 3,203 m² | 1 · 1,451 m² | 7.0 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.
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IVM
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ART'N WINDOW
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J-F COURBOIS
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Of 20,026 companies in sector 43320 we hold annual accounts for 9,136. 7,587 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded25-03-2005
Fiscal year end31-12
Activities, NACEBEL
43320Joinery installation
45421
Sources
Crossroads Bank for EnterprisesNational Bank · 21 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.