Equity
Equity fell by 58% in 7 years.
Equity fell by 58% in 7 years.
The micro format states no turnover.
Green is investment, beige is depreciation.
Short-term debts fell from €3,503 to €2,500.
The last five annual accounts were filed 21 to 77 days before the end of the period.
Higher solvency than 91% of companies in wholesale trade. Sector median 40.5% · 13,800 companies.
The dashed line is the sector median: 0.4% across 26,891 companies (NACE 46, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, micro). It does better than 90% of them on solvency, 98% on liquidity, 71% on profitability and 64% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 34,693 companies had the same profile as VALUE + has now. Each dot stands for 87 companies, two years later.
That fits the bankruptcy probability of VALUE + itself: < 0.1% within 12 months.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 34,693 companies, not a prediction for VALUE +. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is ample, with a current ratio of 11.59 (8.1 in 2024), above the usual 1.5. Short-term debt is 8.3% and cash 46.1% of total assets. 8.3% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 31 days before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
These companies have the same main activity as VALUE +: agents in the wholesale of furniture, household goods and hardware (NACE 46150). They are comparable in size and age: total assets between €17,400 and €39,000, founded between 2007 and 2016.
VALUE + files the micro format. That format states no turnover. The gross margin fell from €10,129 in 2013 to €6,378 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €55,000. Estimated: probably between €25,000 and €100,000.
Higher than 92% of 13,800 companies in 2025.
Higher than 92% of 13,181 companies in 2025.
Higher than 64% of 13,360 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||
20/58 |
30,069 | 28,619 | 20,286 | 67,567 | 132,435 | 149,623 | 161,012 | 199,493 | 130,033 | 104,432 | 92,640 | 84,437 | 25,360 | |
21/28 |
1,082 | 250 | 250 | 250 | 250 | 250 | - | - | 372 | 743 | 576 | 1,153 | - | |
22/27 |
832 | - | - | - | - | - | - | - | 372 | 743 | 576 | 1,153 | - | |
24 |
832 | - | - | - | - | - | - | - | 372 | 743 | 576 | 1,153 | - | |
28 |
250 | 250 | 250 | 250 | 250 | 250 | - | - | - | - | - | - | - | |
29/58 |
28,987 | 28,369 | 20,036 | 67,317 | 132,185 | 149,373 | 161,012 | 199,493 | 129,661 | 103,688 | 92,063 | 83,284 | 25,360 | |
3 |
- | - | 0 | 35,986 | 74,119 | 103,007 | 121,484 | 156,190 | 103,734 | 87,235 | 51,063 | 56,041 | 19,773 | |
30/36 |
- | - | 0 | 35,986 | 74,119 | 103,007 | 121,484 | 156,190 | 103,734 | 87,235 | 51,063 | 56,041 | 19,773 | |
40/41 |
9,916 | 8,468 | 6,611 | 10,993 | 20,177 | 14,807 | 21,606 | 38,514 | 13,354 | 8,676 | 12,918 | 6,342 | 1,848 | |
40 |
6,541 | 7,981 | 6,086 | 7,488 | 19,943 | 11,023 | 16,366 | 38,030 | 13,334 | 8,585 | 12,918 | 3,116 | 1,848 | |
41 |
3,375 | 487 | 525 | 3,505 | 235 | 3,784 | 5,240 | 484 | 21 | 91 | - | 3,226 | - | |
54/58 |
13,851 | 19,087 | 12,647 | 19,428 | 36,988 | 30,616 | 16,375 | 3,838 | 11,069 | 6,970 | 27,383 | 20,602 | 3,441 | |
490/1 |
5,221 | 814 | 778 | 909 | 900 | 943 | 1,547 | 951 | 1,503 | 807 | 699 | 300 | 298 | |
| Balance sheet: equity and liabilities | ||||||||||||||
10/49 |
30,069 | 28,619 | 20,286 | 67,567 | 132,435 | 149,623 | 161,012 | 199,493 | 130,033 | 104,432 | 92,640 | 84,437 | 25,360 | |
10/15 |
27,569 | 25,116 | 6,884 | 26,815 | 58,470 | 42,572 | 47,770 | 65,777 | 61,053 | 51,885 | 45,927 | 30,798 | 19,536 | |
10/11 |
12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
13 |
23,822 | 23,822 | 23,822 | 25,682 | 25,682 | 8,184 | 8,184 | 8,184 | 1,860 | 1,860 | 1,860 | 960 | 360 | |
130/1 |
- | - | 0 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 960 | 360 | |
1311 |
- | - | 0 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | |
133 |
23,822 | 23,822 | 23,822 | 23,822 | 23,822 | 6,324 | 6,324 | 6,324 | - | - | - | - | - | |
14 |
-8,653 | -11,106 | -29,338 | -11,267 | 20,388 | 21,988 | 27,186 | 45,193 | 46,793 | 37,625 | 31,667 | 17,438 | 6,776 | |
17/49 |
2,500 | 3,503 | 13,402 | 40,752 | 73,965 | 107,052 | 113,242 | 133,717 | 68,980 | 52,546 | 46,712 | 53,639 | 5,824 | |
17 |
- | - | - | 0 | 6,956 | 17,218 | 23,112 | 33,059 | - | - | - | - | - | |
170/4 |
- | - | - | 0 | 6,956 | 17,218 | 23,112 | 33,059 | - | - | - | - | - | |
42/48 |
2,500 | 3,503 | 13,402 | 40,752 | 65,158 | 76,355 | 76,115 | 77,485 | 65,775 | 50,546 | 44,712 | 51,639 | 3,824 | |
42 |
- | - | 0 | 6,956 | 10,263 | 10,062 | 9,947 | 9,752 | - | - | - | - | - | |
43 |
0 | 263 | 0 | 15 | - | - | - | - | 19,370 | - | - | - | - | |
430/8 |
0 | 263 | 0 | 15 | - | - | - | - | 19,370 | - | - | - | - | |
44 |
400 | 540 | 1,654 | 6,005 | 4,983 | 2,227 | 5,199 | 9,034 | 11,664 | 10,408 | 9,280 | 11,988 | 322 | |
440/4 |
400 | 540 | 1,654 | 6,005 | 4,983 | 2,227 | 5,199 | 9,034 | 11,664 | 10,408 | 9,280 | 11,988 | 322 | |
45 |
2,100 | 1,432 | 5,480 | 2,852 | 7,050 | 5,141 | 1,092 | 6,697 | 7,810 | 8,625 | 8,572 | 5,747 | 3,404 | |
450/3 |
2,100 | 1,432 | 5,480 | 2,852 | 7,050 | 5,141 | 1,092 | 6,697 | 7,810 | 8,625 | 8,572 | 5,747 | 3,404 | |
47/48 |
0 | 1,268 | 6,268 | 24,924 | 42,861 | 58,924 | 59,876 | 52,003 | 26,930 | 31,513 | 26,860 | 33,904 | 98 | |
492/3 |
- | - | - | 0 | 1,852 | 13,479 | 14,015 | 23,172 | 3,205 | 2,000 | 2,000 | 2,000 | 2,000 | |
| Income statement | ||||||||||||||
76A |
- | - | 0 | 377 | - | - | - | - | - | - | - | - | - | |
9900 |
6,378 | 28,801 | -84,262 | -51,282 | 19,366 | -20,454 | -12,089 | 70,250 | 34,640 | 38,805 | 34,962 | 37,798 | 10,129 | |
630 |
411 | - | - | - | - | - | - | 372 | 372 | 948 | 576 | 576 | - | |
631/4 |
- | 0 | -74,246 | -35,215 | -4,641 | -20,900 | 2,255 | 56,380 | 17,654 | 27,077 | 10,108 | 21,529 | - | |
640/8 |
2,662 | 9,400 | 8,510 | 13,502 | 1,032 | 952 | 1,040 | 948 | 1,644 | 925 | 1,326 | 92 | 200 | |
66A |
- | - | - | - | - | - | - | 128 | - | - | - | 300 | - | |
9901 |
3,305 | 19,401 | -18,525 | -29,570 | 22,975 | -506 | -15,384 | 12,423 | 14,970 | 9,855 | 22,952 | 15,601 | 9,929 | |
75/76B |
45 | 0 | 0 | 0 | 0 | 260 | 358 | 30 | 18 | 31 | 15 | 529 | 19 | |
75 |
45 | 0 | 0 | 0 | 0 | 260 | 358 | 30 | 18 | 31 | 15 | 529 | 19 | |
65/66B |
391 | 651 | 860 | 1,630 | 2,712 | 3,137 | 2,736 | 2,613 | 1,801 | 1,269 | 1,870 | 994 | 634 | |
65 |
391 | 651 | 860 | 1,630 | 2,712 | 3,137 | 2,736 | 2,613 | 1,801 | 1,269 | 1,870 | 994 | 634 | |
9903 |
2,959 | 18,750 | -19,386 | -31,199 | 20,263 | -3,383 | -17,762 | 9,840 | 13,187 | 8,617 | 21,097 | 14,836 | 9,313 | |
67/77 |
506 | 519 | 545 | 455 | 2,765 | 216 | 244 | 3,516 | 4,019 | 2,659 | 5,967 | 3,573 | 2,177 | |
9904 |
2,453 | 18,231 | -19,931 | -31,654 | 17,498 | -3,599 | -18,007 | 6,324 | 9,167 | 5,958 | 15,129 | 11,262 | 7,136 | |
9905 |
2,453 | 18,231 | -19,931 | -31,654 | 17,498 | -3,599 | -18,007 | 6,324 | 9,167 | 5,958 | 15,129 | 11,262 | 7,136 | |
| Appropriation of the result | ||||||||||||||
9906 |
-8,653 | -11,106 | -31,198 | -11,267 | 39,486 | 23,588 | 27,186 | 53,117 | 46,793 | 37,625 | 32,567 | 18,038 | 7,136 | |
14P |
-11,106 | -29,338 | -11,267 | 20,388 | 21,988 | - | - | - | - | - | - | - | - | |
791/2 |
- | 0 | 1,860 | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | - | 0 | 17,498 | - | - | 6,324 | - | - | 900 | 600 | 360 | |
6920 |
- | - | - | - | - | - | - | - | - | - | 900 | 600 | 360 | |
6921 |
- | - | - | 0 | 17,498 | - | - | 6,324 | - | - | - | - | - | |
694/7 |
- | - | - | 0 | 1,600 | 1,600 | - | 1,600 | - | - | - | - | - | |
694 |
- | - | - | 0 | 1,600 | 1,600 | - | 1,600 | - | - | - | - | - | |
| Document | ||||||||||||||
The notes to these accounts have 12 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 15-05-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 15-05-2026 | 2026-00114635 | |
| 31-12-2024 | micro format | 30-06-2025 | 2025-00203747 | |
| 31-12-2023 | micro format | 09-07-2024 | 2024-00225719 | |
| 31-12-2022 | micro format | 10-07-2023 | 2023-00226001 | |
| 31-12-2021 | micro format | 06-07-2022 | 2022-20161218 | |
| 31-12-2020 | micro format | 14-07-2021 | 2021-36600235 | |
| 31-12-2019 | micro format | 10-07-2020 | 2020-28900425 | |
| 31-12-2018 | micro format | 02-07-2019 | 2019-26900355 | |
| 31-12-2017 | micro format | 11-06-2018 | 2018-17500044 | |
| 31-12-2016 | micro format | 05-07-2017 | 2017-28100557 | |
| 31-12-2015 | abbreviated format | 08-07-2016 | 2016-29600002 | |
| 31-12-2014 | abbreviated format | 29-06-2015 | 2015-24200272 | |
| 31-12-2013 | abbreviated format | 23-06-2014 | 2014-21300570 |
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €4,583 | €4,583 |
| 2024 | 1 | €1,111 | €1,111 |
| 2023 | 1 | €1,269 | €1,269 |
| 2022 | 1 | €846 | €846 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,716 | - | - | - | - | - | - | 12,795 | 15,341 | 10,803 | 23,528 | 16,178 | - | ||
| 2,864 | - | - | - | - | - | - | 6,695 | 9,539 | 6,906 | 15,706 | 11,839 | - | ||
| 1,243 | - | - | 6,411 | - | 250 | - | 0 | 5,406 | 1,115 | 0 | 1,729 | - | ||
| -5,236 | 6,440 | -6,781 | -17,560 | 6,372 | 14,241 | 12,537 | -7,231 | 4,099 | -20,413 | 6,781 | 17,161 | - | ||
| 26,487 | 24,866 | 6,634 | 26,565 | 67,027 | 73,018 | 84,898 | 122,008 | 63,886 | 53,142 | 47,351 | 31,645 | 21,536 | ||
| 91.7% | 87.8% | 33.9% | 39.7% | 44.1% | 28.5% | 29.7% | 33.0% | 47.0% | 49.7% | 49.6% | 36.5% | 77.0% | ||
| 11.59 | 8.10 | 1.50 | 1.65 | 2.03 | 1.96 | 2.12 | 2.57 | 1.97 | 2.05 | 2.06 | 1.61 | 6.63 | ||
| 11.59 | 8.10 | 1.50 | 0.77 | 0.89 | 0.61 | 0.52 | 0.56 | 0.39 | 0.33 | 0.92 | 0.53 | 1.46 | ||
| 0.09 | 0.14 | 1.95 | 1.52 | 1.27 | 2.51 | 2.37 | 2.03 | 1.13 | 1.01 | 1.02 | 1.74 | 0.30 | ||
| 8.9% | 72.6% | -289.5% | -118.0% | 29.9% | -8.5% | -37.7% | 9.6% | 15.0% | 11.5% | 32.9% | 36.6% | 36.5% | ||
| 8.2% | 63.7% | -98.2% | -46.8% | 13.2% | -2.4% | -11.2% | 3.2% | 7.1% | 5.7% | 16.3% | 13.3% | 28.1% | ||
| 9.50 | - | - | - | - | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,243 | - | - | €6,411 | - |
| Financial fixed assets | €0 | - | - | - | - |
| €411 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 83% lower than in 2024.
Debt's share of the balance-sheet total falls from 12.2% to 8.3%. Equity is higher and debt is lower.
VALUE + has no parent and no holdings in its annual accounts. VAN MOSSEVELDE An is the only director.
| HOLDING HIVA
registered office since 17-06-2011 · founded in 2011 |
total assets €3.5m (2025) 0837.075.059 |
| HOLDING HIVA BIS
registered office since 02-01-2019 · founded in 2019 |
total assets €1.9m (2025) 0716.988.069 |
| HIVA REAL ESTATE
registered office since 24-06-2013 · founded in 2013 |
total assets €787,505 (2025) 0535.910.449 |
| HIVA INVEST
registered office since 07-07-2010 · founded in 2010 |
total assets €165,656 (2025) 0822.442.709 |
| MONA
registered office since 14-12-2015 |
founded in 2015 0725.824.670 |
| HIMAN PROJECTS via VAN MOSSEVELDE An, no longer at HIMAN PROJECTS · Director · deed of 09-07-2020 No longer active |
The network starts from the earlier ties.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Value+ registered office Lindestraat 44, 3512 Hasselt | 09-03-2012 | 2.208.534.602 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 71055A0691/00P000 | 6,810 m² | 1 · 281 m² | 5.4 m |
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