MAVAN
ActiveSummary
MAVAN has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6.47M and a net result of €230k. Equity is growing by ~4.9% per year across the filed fiscal years. Its solvency ranks better than 95% of 4539 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
71
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability23▼-48
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €450k at 30 days acceptable
Liquidity ample (current ratio 55.46; short-term debt: 1.4% and cash: 1.1% of total assets), and 1.6% 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○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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← 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
98.4%
Return on assets
3.5%
Age of the figures
9 mo
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
35 d early
2023
13 d early
2022
45 d early
2021
31 d late
2020
31 d late
2019
7 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€230k▲ 69.5%
2024 · €136k
2018: €47k
2019: €81k
2020: €1.72M
2021: €440k
2022: €242k
2023: €55k
2024: €136k
2018 → 2025
Working capital
€5.11M▲ 3.1%
2024 · €4.95M
2018: €1.96M
2019: €2.26M
2020: €3.77M
2021: €4.32M
2022: €4.65M
2023: €4.79M
2024: €4.95M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€5.85M-€6.09M▲ 4.1%€6.15M▲ 0.9%€6.28M▲ 2.2%€6.47M▲ 2.9%
Operating result€-82k-€-29k▲ 65.0%€-35k▼ 21.8%€16k€-48k
Net result€440k-€242k▼ 45.0%€55k▼ 77.3%€136k▲ 147%€230k▲ 69.5%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €48k after €16k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.57M
Fixed assets
€1.37M ▲ 2.2%
Current assets
€5.20M ▲ 4.4%
Equity and liabilities €6.57M
Equity
€6.47M ▲ 2.9%
Provisions
€9k ▼ 26.5%
Debt
€94k ▲ 231%
Debt's share of the balance-sheet total rises from 0.4% to 1.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€-13k▼
2024 · €49k
Cash flow
€265k▲
2024 · €169k
Current ratio
55.46
Debt to equity
0.01▲
2024 · 0.00
ROE
3.6%▲
2024 · 2.2%
ROA
3.5%▲
2024 · 2.1%
Interest coverage
-122.44▼
2024 · 1129.05
Debt ≤ 1 year
€94k▲
2024 · €28k
Income taxes
€12k▲
2024 · €4k
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 · 54 lines
Balance sheet
Code20242025
Assets
Total assets20/58€6.32M€6.57M▲
Fixed assets21/28€1.34M€1.37M▲
Tangible fixed assets22/27€958k€987k▲
Land and buildings22€958k€987k▲
Financial fixed assets28€382k€382k=
Current assets29/58€4.98M€5.20M▲
Amounts receivable within one year40/41€4.91M€5.10M▲
Trade receivables40€5k€18k▲
Other amounts receivable41€4.91M€5.08M▲
Cash at bank and in hand54/58€38k€73k▲
Deferred charges and accrued income490/1€32k€33k▲
Equity and liabilities
Total equity and liabilities10/49€6.32M€6.57M▲
Equity10/15€6.28M€6.47M▲
Contributions10/11€1.04M€1.04M=
Capital10€1.04M€1.04M=
Issued capital100€1.04M€1.04M=
Reserves13€5.24M€5.43M▲
Non-distributable reserves130/1€104k€104k=
Legal reserve130€104k€104k=
Tax-exempt reserves132€24k€17k▼
Distributable reserves133€5.12M€5.31M▲
Profit (loss) carried forward14-€0
Provisions and deferred taxes16€12k€9k▼
Deferred taxes168€12k€9k▼
Amounts payable17/49€28k€94k▲
Amounts payable within one year42/48€28k€94k▲
Trade debts44€23k€48k▲
Suppliers440/4€23k€48k▲
Taxes, remuneration and social security45€5k€617▼
Taxes450/3€5k€617▼
Other amounts payable47/48-€45k
Accrued charges and deferred income492/3€53€53=
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€33k€34k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-70k€0▲
Other operating charges640/8€11k€11k▼
Gross operating margin9900€-10k€-3k▲
Operating profit (loss)9901€16k€-48k▼
Financial income75/76B€138k€288k▲
Recurring financial income75€138k€288k▲
Financial charges65/66B€18k€1k▼
Recurring financial charges65€44€109▲
Non-recurring financial charges66B€18k€1k▼
Profit (loss) for the period before taxes9903€137k€239k▲
Transfer from deferred taxes780€3k€3k=
Income taxes67/77€4k€12k▲
Profit (loss) for the period9904€136k€230k▲
Transfer from tax-exempt reserves789€7k€7k=
Profit (loss) for the period to be appropriated9905€142k€237k▲
Appropriation of the result
Profit (loss) to be appropriated9906€142k€237k▲
Transfer to equity691/2€142k€192k▲
To other reserves6921€142k€192k▲
Profit to be distributed694/7-€45k
Directors or managers695-€45k
Social balance
Average headcount (FTE)90870.00.0=
The notes to these accounts (15 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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
26-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
16-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Liquidity times 15current ratio 233.19
Current ratio from 15.21 to 233.19; short-term debt falls from €304k to €20k.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
31-12
Financial
Highest result since 2018net €1.72M ▲2010%
Net result €1.72M, the highest in the series.
31-12
Financial
Liquidity triplescurrent ratio 240.00
Current ratio from 89.75 to 240.00; short-term debt falls from €25k to €16k.
31-12
Financial
Equity above €5MEq €5.41M ▲46.6%
3 profitable years in a row build equity to €5.41M.
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Kortrijk · 1 establishment unit since 1996
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.
Deken Degryselaan(Kor) 238500 KortrijkGround area
1,769 m²
Building footprint
529 m²
Volume, LiDAR
2,173 m³
Parcel 34353B0115/00T020, Flanders · tallest building 6.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Deken Degryselaan(Kor) 23, 8500 Kortrijk
since 19962.075.326.084
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34353B0115/00T020 | Flanders | 1,769 m² | 1 · 529 m² | 6.2 m · 1 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.
Similar companies · same sector, comparable size
Immocel
BE 0427.007.064
Antwerpen · Eq €6,468,232
VALYOU
BE 0843.328.193
Roeselare · Eq €6,496,701
GROEP VANHEE
BE 0817.404.548
Oostkamp · Eq €6,500,559
HECTOR INVESTMENT
BE 0465.288.214
Gent · Eq €6,420,852
EQUITERRE
BE 0828.779.480
Leuven · Eq €6,534,442
Of 7,320 companies in sector 68110 we hold annual accounts for 5,381. 1,557 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
Founded01-01-1968
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
Sources
Crossroads Bank for EnterprisesNational Bank · 49 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.