VERVAN

Active

Public limited companyfounded 198243 yrs activeProvinciebaan 70-A, 8880 Ledegem, BelgiumKBO/BCE: BE 0423.337.296

Summary

VERVAN has been active since 1982 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €32.6m and a net result of €1.5m. Equity is growing by ~3.8% per year across the filed fiscal years. Its solvency ranks better than 95% of 131 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Risk analysis Watch Report Compare

VERVANActiveChecked score 80/100

Risk analysis Report Compare

Checked score

Score 2025

80 / 100

Excellent

Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability74=

Solvency100=

Growth78=

Track record100

Bankruptcy probability, 12 months

0.2% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €2,000,000 at 30 days acceptable

Liquidity ample (current ratio 15.74 against 16.08 in 2024; short-term debt: 2.1% and cash: 4.8% of total assets), and 2.6% of the assets are financed with debt.

Credit check for your own amount and term

Show the recommended maximum : and 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

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

97.4%

Return on assets

4.4%

Age of the figures

9 mo

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 31

Relative position

BE, all sectors

reference

Manufacture of furniture (NACE 31)

about 43% more bankruptcies

← fewer bankruptcies more bankruptcies →

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-07-2026, 1 day ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

1 d early

2024

on the day

2023

1 d early

2022

25 d early

2021

18 d early

2020

16 d early

2019

125 d late

← 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 9 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 37% of the sector filed late.

Checked, nothing found (2)

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 months

Position in the running window

28-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

History

VERVAN was incorporated on 23 November 1982.¹ Total assets rose from EUR 26 million in 2018 to EUR 33 million in 2025 and headcount from 20 to 24.5 full-time equivalents.²

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Financials · fiscal year 2025, full schema

In the rankings #1 company by total assets in Ledegem, Manufacturing sector #1 company by equity in Ledegem, Manufacturing sector #4 oldest company in Ledegem, Manufacturing sector

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€1.5m▲ 10.3%

2024 · €1.3m

Working capital

€10.3m▼ 34.0%

2024 · €15.6m

Trend over the years

Chart Table

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 31, Manufacture of furniture, each year against the same schema; no band under 30 filings. Dashed line: the median.

Every figure with its change against the fiscal year before

favourable unfavourable

Line20212022202320242025

Operating result€1.5m▼ 8.1%€1.4m▼ 7.1%€1.6m▲ 14.0%€1.4m▼ 13.6%€1.1m▼ 17.7%

Net result€1.3m▲ 25.3%€1.2m▼ 10.7%€1.5m▲ 24.7%€1.3m▼ 7.9%€1.5m▲ 10.3%

Equity€28.5m▲ 4.0%€29.5m▲ 3.5%€30.8m▲ 4.3%€32.1m▲ 4.4%€32.6m▲ 1.5%

Total assets€29.7m▲ 4.8%€31.2m▲ 5.1%€32.3m▲ 3.6%€33.3m▲ 3.2%€33.4m▲ 0.4%

Debt€941,597▲ 32.0%€1.5m▲ 57.2%€1.3m▼ 9.4%€1.0m▼ 22.7%€700,056▼ 32.4%

Working capital€21.1m▼ 1.2%€22.0m▲ 4.6%€21.4m▼ 3.0%€15.6m▼ 26.9%€10.3m▼ 34.0%

Solvency96.1%▼ 0.7pp94.6%▼ 1.5pp95.3%▲ 0.6pp96.3%▲ 1.1pp97.4%▲ 1.0pp

Current ratio23.38▼ 7.5315.89▼ 7.4916.94▲ 1.0516.08▼ 0.8615.74▼ 0.34

Return on assets (ROA)4.4%▲ 0.7pp3.7%▼ 0.7pp4.5%▲ 0.8pp4.0%▼ 0.5pp4.4%▲ 0.4pp

Staff (FTE)23.8▲ 8.7%24.7▲ 3.8%23.5▼ 4.9%25.3▲ 7.7%24.5▼ 3.2%

above within below the middle half (P25 to P75) of NACE 31, Manufacture of furniture, each year against the same schema; no band under 30 filings.

Result per fiscal year

Operating resultNet result

The operating result has fallen two years in a row; 2025 is 18% below 2024 and is the lowest result in the available series.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €33.4m

67.1%

32.9%

Fixed assets €22.4m ▲ 34.7%

Current assets €11.0m ▼ 33.9%

Equity and liabilities €33.4m

97.4%

Equity €32.6m ▲ 1.5%

Provisions €171,703 ▼ 5.4%

Debt €700,056 ▼ 32.4%

Debt's share of the balance-sheet total falls from 3.1% to 2.1%. Equity is higher and debt is lower.

Key figures and ratios

2025 value · change against 2024

EBITDA

€1.6m▼

2024 · €1.9m

Cash flow

€2.0m▲

2024 · €1.8m

Quick ratio

14.43▼

2024 · 15.12

Debt to equity

0.02▼

2024 · 0.03

ROE

4.5%▲

2024 · 4.2%

Interest coverage

34.31▼

2024 · 73.99

Debt ≤ 1 year

€700,056▼

2024 · €1.0m

Income taxes

€389,415▼

2024 · €731,641

Staff costs

€1.7m▼

2024 · €1.8m

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Filed annual accounts As filed with the NBB · 2025 against 2024 · 64 lines

Balance sheet Code20242025

Assets

Total assets20/58€33.3m€33.4m▲

Fixed assets21/28€16.7m€22.4m▲

Tangible fixed assets22/27€4.1m€3.7m▼

Land and buildings22€2.8m€2.7m▼

Plant, machinery and equipment23€1.0m€814,873▼

Furniture and vehicles24€231,199€194,655▼

Financial fixed assets28€12.6m€18.8m▲

Current assets29/58€16.7m€11.0m▼

Amounts receivable after more than one year29€1.4m€939,887▼

Other amounts receivable291€1.4m€939,887▼

Stocks and contracts in progress3€1.0m€913,796▼

Stocks30/36€1.0m€913,796▼

Amounts receivable within one year40/41€971,959€1.1m▲

Trade receivables40€917,062€761,250▼

Other amounts receivable41€54,897€346,154▲

Current investments50/53€11.5m€6.5m▼

Cash at bank and in hand54/58€1.8m€1.6m▼

Equity and liabilities

Total equity and liabilities10/49€33.3m€33.4m▲

Equity10/15€32.1m€32.6m▲

Contributions10/11€100,000€100,000=

Capital10€100,000€100,000=

Issued capital100€100,000€100,000=

Reserves13€31.9m€32.4m▲

Non-distributable reserves130/1€10,000€10,000=

Legal reserve130€10,000€10,000=

Tax-exempt reserves132€496-

Distributable reserves133€31.9m€32.4m▲

Profit (loss) carried forward14€63,609€92,679▲

Investment grants15€6,966€6,966=

Provisions and deferred taxes16€181,411€171,703▼

Provisions for liabilities and charges160/5€181,411€171,703▼

Major repairs and maintenance162€36,505€36,505=

Other liabilities and charges164/5€144,906€135,198▼

Amounts payable17/49€1.0m€700,056▼

Amounts payable within one year42/48€1.0m€700,056▼

Trade debts44€635,609€269,286▼

Suppliers440/4€635,609€269,286▼

Advances received on contracts in progress46€174,052€212,541▲

Taxes, remuneration and social security45€180,056€200,568▲

Taxes450/3€5,900€17,350▲

Remuneration and social security454/9€174,156€183,218▲

Other amounts payable47/48€46,125€17,661▼

Income statement Code20242025

Remuneration, social security and pensions62€1.8m€1.7m▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€497,030€499,432▲

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€34,103€136,997▲

Provisions for liabilities and charges: additions (uses and reversals)635/8-€9,720-€6,468▲

Other operating charges640/8€46,130€48,905▲

Gross operating margin9900€3.7m€3.5m▼

Operating profit (loss)9901€1.4m€1.1m▼

Financial income75/76B€738,762€776,841▲

Recurring financial income75€556,781€623,129▲

Non-recurring financial income76B€181,981€153,712▼

Financial charges65/66B€51,057€47,766▼

Recurring financial charges65€25,435€47,766▲

Non-recurring financial charges66B€25,622-

Profit (loss) for the period before taxes9903€2.1m€1.9m▼

Income taxes67/77€731,641€389,415▼

Profit (loss) for the period9904€1.3m€1.5m▲

Profit (loss) for the period to be appropriated9905€1.3m€1.5m▲

Appropriation of the result

Profit (loss) to be appropriated9906€1.4m€1.5m▲

Profit (loss) brought forward from the previous period14P€22,594€63,609▲

Transfer to equity691/2€1.3m€1.5m▲

To other reserves6921€1.3m€1.5m▲

Social balance

Average headcount (FTE)908725.324.5▼

The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line	2021	2022	2023	2024	2025	Change
Remuneration, social security and pensions62	€1.3m	€1.5m	€1.6m	€1.8m	€1.7m	▼ 4.8%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€326,518	€457,687	€428,989	€497,030	€499,432	▲ 0.5%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4	€81,843	€50,376	€65,679	€34,103	€136,997	▲ 302%
Provisions for liabilities and charges: additions (uses and reversals)635/8	€19,458	-€21,260	€65,679	-€9,720	-€6,468	▲ 33.5%
Other operating charges640/8	€45,558	€41,799	€44,507	€46,130	€48,905	▲ 6.0%
Gross operating margin9900	€3.3m	€3.5m	€3.8m	€3.7m	€3.5m	▼ 5.9%
Operating profit (loss)9901	€1.5m	€1.4m	€1.6m	€1.4m	€1.1m	▼ 17.7%
Financial income75/76B	€352,071	€269,643	€327,668	€738,762	€776,841	▲ 5.2%
Recurring financial income75	€289,213	€102,008	€172,406	€556,781	€623,129	▲ 11.9%
Non-recurring financial income76B	€62,858	€167,635	€155,262	€181,981	€153,712	▼ 15.5%
Financial charges65/66B	€43,130	€100,887	€42,401	€51,057	€47,766	▼ 6.4%
Recurring financial charges65	€43,130	€100,887	€42,401	€25,435	€47,766	▲ 87.8%
Non-recurring financial charges66B	€0	-	-	€25,622	-	-
Profit (loss) for the period before taxes9903	€1.8m	€1.6m	€1.9m	€2.1m	€1.9m	▼ 9.9%
Income taxes67/77	€515,335	€408,498	€433,427	€731,641	€389,415	▼ 46.8%
Profit (loss) for the period9904	€1.3m	€1.2m	€1.5m	€1.3m	€1.5m	▲ 10.3%
Profit (loss) for the period to be appropriated9905	€1.3m	€1.2m	€1.5m	€1.3m	€1.5m	▲ 10.3%

Line	2021	2022	2023	2024	2025	Change
Assets
Total assets20/58	€29.7m	€31.2m	€32.3m	€33.3m	€33.4m	▲ 0.4%
Fixed assets21/28	€7.7m	€7.7m	€9.6m	€16.7m	€22.4m	▲ 34.7%
Tangible fixed assets22/27	€4.1m	€4.1m	€4.0m	€4.1m	€3.7m	▼ 9.9%
Land and buildings22	€3.2m	€3.0m	€2.9m	€2.8m	€2.7m	▼ 5.5%
Plant, machinery and equipment23	€719,992	€792,004	€889,498	€1.0m	€814,873	▼ 20.4%
Furniture and vehicles24	€173,549	€231,103	€241,298	€231,199	€194,655	▼ 15.8%
Assets under construction and advance payments27	€0	€20,591	-	-	-	-
Financial fixed assets28	€3.6m	€3.6m	€5.6m	€12.6m	€18.8m	▲ 49.1%
Current assets29/58	€22.0m	€23.5m	€22.7m	€16.7m	€11.0m	▼ 33.9%
Amounts receivable after more than one year29	€2.2m	€2.3m	€2.2m	€1.4m	€939,887	▼ 33.0%
Other amounts receivable291	€2.2m	€2.3m	€2.2m	€1.4m	€939,887	▼ 33.0%
Stocks and contracts in progress3	€948,637	€1.7m	€1.4m	€1.0m	€913,796	▼ 8.7%
Stocks30/36	€948,637	€1.7m	€1.4m	€1.0m	€913,796	▼ 8.7%
Amounts receivable within one year40/41	€1.3m	€1.1m	€954,847	€971,959	€1.1m	▲ 13.9%
Trade receivables40	€1.0m	€858,187	€954,847	€917,062	€761,250	▼ 17.0%
Other amounts receivable41	€246,505	€228,233	-	€54,897	€346,154	▲ 531%
Current investments50/53	€7.0m	€7.0m	€8.4m	€11.5m	€6.5m	▼ 43.7%
Cash at bank and in hand54/58	€10.6m	€11.4m	€9.7m	€1.8m	€1.6m	▼ 11.4%
Deferred charges and accrued income490/1	€0	-	-	-	-	-
Equity and liabilities
Total equity and liabilities10/49	€29.7m	€31.2m	€32.3m	€33.3m	€33.4m	▲ 0.4%
Equity10/15	€28.5m	€29.5m	€30.8m	€32.1m	€32.6m	▲ 1.5%
Contributions10/11	€100,000	€100,000	€100,000	€100,000	€100,000	=
Capital10	€100,000	€100,000	€100,000	€100,000	€100,000	=
Issued capital100	€100,000	€100,000	€100,000	€100,000	€100,000	=
Reserves13	€28.2m	€29.2m	€30.6m	€31.9m	€32.4m	▲ 1.4%
Non-distributable reserves130/1	€10,000	€10,000	€10,000	€10,000	€10,000	=
Legal reserve130	€10,000	€10,000	€10,000	€10,000	€10,000	=
Tax-exempt reserves132	€496	€496	€496	€496	-	-
Distributable reserves133	€28.2m	€29.2m	€30.6m	€31.9m	€32.4m	▲ 1.4%
Profit (loss) carried forward14	€204,944	€217,306	€22,594	€63,609	€92,679	▲ 45.7%
Investment grants15	€6,966	€6,966	€6,966	€6,966	€6,966	=
Provisions and deferred taxes16	€212,391	€191,131	€191,131	€181,411	€171,703	▼ 5.4%
Provisions for liabilities and charges160/5	€212,391	€191,131	€191,131	€181,411	€171,703	▼ 5.4%
Major repairs and maintenance162	€34,005	€36,505	€36,505	€36,505	€36,505	=
Other liabilities and charges164/5	€178,386	€154,626	€154,626	€144,906	€135,198	▼ 6.7%
Amounts payable17/49	€941,597	€1.5m	€1.3m	€1.0m	€700,056	▼ 32.4%
Amounts payable within one year42/48	€941,597	€1.5m	€1.3m	€1.0m	€700,056	▼ 32.4%
Trade debts44	€460,118	€631,794	€409,639	€635,609	€269,286	▼ 57.6%
Suppliers440/4	€460,118	€631,794	€409,639	€635,609	€269,286	▼ 57.6%
Advances received on contracts in progress46	€91,540	€363,550	€461,003	€174,052	€212,541	▲ 22.1%
Taxes, remuneration and social security45	€134,794	€206,965	€217,935	€180,056	€200,568	▲ 11.4%
Taxes450/3	€5,900	€54,900	€46,353	€5,900	€17,350	▲ 194%
Remuneration and social security454/9	€128,894	€152,065	€171,582	€174,156	€183,218	▲ 5.2%
Other amounts payable47/48	€255,145	€277,460	€252,058	€46,125	€17,661	▼ 61.7%

Line	2021	2022	2023	2024	2025	Change
Profit (loss) for the period9904	€1.3m	€1.2m	€1.5m	€1.3m	€1.5m	▲ 10.3%
+ Depreciation and write-downs630	€326,518	€457,687	€428,989	€497,030	€499,432	▲ 0.5%
Operating cash flow (approximation)	€1.6m	€1.6m	€1.9m	€1.8m	€2.0m	▲ 7.6%
Investment in fixed assets (approximation)	-	-€463,341	-€2.3m	-€7.6m	-€6.3m	▲ 17.2%
Change in cash	-	€868,234	-€1.7m	-€7.9m	-€205,935	▲ 97.4%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Timeline · acts, filings and financial milestones

All 12Financial 2Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

30-07

NBB filing Annual accounts filed

fiscal year 2025 · full schema

2025

31-12

Financial Highest result since 2018net €1.5m ▲10.3%

Net result €1.5m, the highest in the series.

31-07

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

30-07

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2023

06-07

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2022

13-07

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

2021

15-07

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2020

31-12

Financial Weakest financial yearnet €1.0m ▼20.3%

Net result drops to €1.0m, the lowest in the series; recovery starts the following year.

03-12

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema · 125 days late

2019

11-07

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2018

23-07

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2017

26-06

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

0 of 6 acts read

About the unread acts

We know of 6 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

6 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, Ledegem · 1 establishment unit since 1982

seat establishment The establishment unit on the map

Ground area

4,094 m²

Building footprint

2,431 m²

Volume, LiDAR

11,179 m³

Parcel 36010C0702/00F004, Flanders · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.

1 establishment unit

VERVAN

Provinciebaan 70-A, 8880 LedegemNACE 2030102

since 19822.021.531.072

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
36010C0702/00F004	Flanders	4,094 m²	1 · 2,431 m²	7.9 m · 2 fl.

Linked by address, not proof of ownership

Good to know

1 of 1 parcel 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 holdings

Owners 0

The accounts to 31-12-2022 list no shareholders, and no other source names one.

Holdings 2

Jokri-Belsubsidiary

Sourceown accounts 2022
Equity €32,098Result -€123,852

99.99%
IMMO VERVANsubsidiary

Sourceown accounts 2022
Equity €1.9mResult -€18,798

98.75%

According to the 2022 annual accounts of VERVAN 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.

Public money · subsidies and aid

Flemish government

2023 to 2025 · 3 entries · 2,316 EUR awarded · 936 EUR paid

Year	Entries	awarded	paid
2025	1	70 EUR	70 EUR
2024	1	2,208 EUR	828 EUR
2023	1	38 EUR	38 EUR

Schemes

Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)

3 entries · 2,316 EUR · 936 EUR paid · Fonds voor Innoveren en Ondernemen

Recognitions · licences · registrations

Dual-learning approval

6 ended

Interieurbouwer duaal (so)

ended · 2021 to 2026

Machinaal houtbewerker duaal (so)

ended · 2021 to 2026

Medewerker hout duaal (so)

ended · 2021 to 2026

Operator CNC-gestuurde houtbewerkingsmachines duaal (so)

ended · 2021 to 2026

Interieurbouwer (so)

discontinued · 2021 to 2025

Machinaal houtbewerker (so)

discontinued · 2021 to 2025

Legal Entity Identifier

984500DFBCFC91C4FB44

live in the LEI register

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Roeselare · Eq €64.1m

Goossens Binnenhuiskunst

HOREMANS KEUKENS MEUBELEN

BE 0433.772.023

Geel · Eq €7.6m

Of 618 companies in sector 31002 we hold annual accounts for 348. 18 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

Founded23-11-1982

Fiscal year end31-12

Activities, NACEBEL 2025

31002Manufacture of furniture

43320Joinery installation

46431Wholesale of electrical household appliances and audio-video equipment

47540Retail sale of electrical household appliances

E-invoicing

Reachable via Peppol

Peppol ID 0208:0423337296

Also 9925:BE0423337296

Registered 25-11-2025

Scores and ratios are computed by Checked and are not a credit decision.