Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 8 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
19 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
FIVANCO from Kortrijk, company number BE0407099793, closed financial year 2025 with a result of € 140,165 after tax. For that financial year FIVANCO recorded revenue of € 120,500 and equity of € 56.6 million. Compared with financial year 2024, the result moved from € -1.2 million to € 140,165. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 9, 2026.
€ 56.6 million
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 140,165
▲ still € 1.2 million loss in 2024
Profit after tax over the fiscal year.
€ 1.1 million
▲ 158% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 55.3 million.
People and assets in 2025
2.8
Average over the fiscal year, from the social balance sheet.
€ 447,717
▲ 9% vs 2024
€ 159,900 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 54,742
▲ 111% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 36.7 million
▲ 27% vs 2024
€ 947,368 is repaid this year. At this pace the long-term loan is gone in ≈ 15 years.
€ 206,051
▲ 93% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 100 days on average.
€ 83,487
▲ 9% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 171,535 | € 187,250 | € 125,704 | € 120,500 | ▼ 4% |
| Profit after taxes | € -31,572 | € -19,060 | € -1,233,106 | € 140,165 | ▲ € 1.4 million |
| Equity | € 57,691,098 | € 57,672,038 | € 56,438,931 | € 56,579,096 | |
| Total debts | € 23,104,440 | € 29,995,614 | € 30,907,387 | € 39,302,741 | ▲ 27% |
| Cash | € 4,500,868 | € 551,583 | € 421,079 | € 1,085,948 | ▲ 158% |
| Land & buildings | € 253,539 | € 253,038 | € 252,773 | € 252,773 | |
| Retained profit | € 56,441,098 | € 56,422,038 | € 55,188,931 | € 55,329,096 | |
| Bank debt | € 12,086,449 | € 27,667,889 | € 28,774,329 | € 36,659,113 | ▲ 27% |
| Balance sheet total | € 80,795,538 | € 87,667,652 | € 87,346,318 | € 95,881,838 | ▲ 10% |
| Employees (FTE) | 3.5 | 2.8 | 2.8 | 2.8 |
Key figures of FIVANCO, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to FIVANCO?
What happened at FIVANCO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Davhold BV stepped down as director. NBB
- Fransiska Bulkens stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 140,165. Source: NBB ↗
- Davhold BV became a director. NBB
- Fransiska Bulkens became a director. NBB
- Start of the company according to the CBE. KBO
- New establishment in Kortrijk. KBO
In short
From € 31,572 loss in 2022 to € 140,165 profit in 2025.
Paid € 2,243 in corporate taxes since 2022.
Best year ever: 2025, with € 140,165 profit.
Pays suppliers within 100 days on average.
Management
The stake of DAVHOLD comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
FIVANCOThe shares are held by DAVHOLD (200%). It owns 100% of Scarlet Ibis, 100% of SC POM Service, 100% of New Properties, 100% of Bovanco BV, 100% of Grand Acres LP and 100% of Centrimo Romania itself.
Directors
According to the 2025 annual accounts
Director · represented by David Vanbiervliet
since 2022 · until 2028
since 2022 · until 2028
Shareholders
200%
Participations
Scarlet Ibis
100%
SC POM Service
100%
New Properties
100%
100%
Grand Acres LP
100%
Centrimo Romania
100%
100%
Afidavid
100%
100%
100%
Inovan
75%
Negustori Europe
73%
Yellow Sky
69.5%
Beleggingsmaatschappij Job Gouda
57.6%
Narlikuyu AS
50.5%
Segunda Casa Adeje
50%
Dreamworld Investments 537 Ltd.
50%
Sea Real Estate
50%
Vinlanda
44.4%
25%
25%
Millstone Residentials SRL
22.5%
Fundulea
20%
18%
17.8%
13.3%
Groenevelt Sluis
9.5%
Establishments
Establishment units
Physical locations of this company
Beneluxpark(Kor) 29 box 0021
8500 Kortrijk
Beneluxpark(Kor) 29 box B0021
8500 Kortrijk
Active since 1 October 1969
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 19 companies are registered at this address.
All companies at this address →Centrimo same network
€ 188,427 gross margin · 2025
INAFZO same network
€ -67,046 gross margin · 2025
CONAFIN same network
€ 14,235 gross margin · 2025
YOUNG & Partners/NaviTrans International
€ 12.4 million revenue · 2025
Centrimo Construct same network
€ 421,402 gross margin · 2025
+14 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0407.099.793
- VAT number
- BE 0407.099.793
- Registered office
- Beneluxpark(Kor) 29 bus 0021, 8500 Kortrijk
- Names & denominations
- FIVANCO
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 21 May 1970
- Peppol
- Active · Active since 21 Oct 2026
- Activities · NACE
Activiteiten van holdings
Holdings
Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen