Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2023 and 2024.
-
Tight liquidity NBB
Cash and receivables cover 60 % of short-term debt in 2024; threshold 65 %.
Financials
Financial year 2024
GROUP MINERVA from Ukkel, company number BE0436440216, closed financial year 2024 with a result of € -3.1 million after tax. For that financial year GROUP MINERVA recorded a gross margin of € -1.3 million and equity of € 165.8 million. Compared with financial year 2023, the result moved from € -387,264 to € -3.1 million. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on October 9, 2025.
€ 165.8 million
▼ 2% vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -3.1 million
▼ 709 % more loss than in 2023
Profit after tax over the fiscal year.
€ 193,631
▼ 61% vs 2023
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 159.9 million.
People and assets in 2024
0
Average over the fiscal year, from the social balance sheet.
€ 386,252
▲ 1% vs 2023
Book value of vehicles, furniture and equipment.
Debts at end 2024
€ 20.9 million
▲ 8% vs 2023
€ 561,544 is repaid this year. At this pace the long-term loan is gone in ≈ 10 years.
€ 1.1 million
▼ 41% vs 2023
Supplier invoices still open on the last day of the fiscal year.
€ 153,387
▼ 22% vs 2023
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2021 | 2023 | 2024 | Change 2023 → 2024 | |
|---|---|---|---|---|
| Gross margin | € -1,642,824 | € 780,605 | € -1,302,835 | ▼ € 2.1 million |
| Profit after taxes | € -1,971,390 | € -387,264 | € -3,131,483 | ▼ € 2.7 million |
| Equity | € 159,511,021 | € 168,900,450 | € 165,768,967 | ▼ 2% |
| Total debts | € 33,581,193 | € 26,950,812 | € 27,356,198 | ▲ 2% |
| Cash | € 68,723 | € 496,143 | € 193,631 | ▼ 61% |
| Land & buildings | € 29,441,920 | € 33,714,283 | € 27,497,953 | ▼ 18% |
| Retained profit | € 153,679,040 | € 163,005,542 | € 159,874,059 | ▼ 2% |
| Bank debt | € 22,055,048 | € 19,410,275 | € 20,926,570 | ▲ 8% |
| Balance sheet total | € 193,092,214 | € 195,851,262 | € 193,125,165 | ▼ 1% |
Key figures of GROUP MINERVA, fiscal years 2021 to 2024, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2025 has not been filed yet; it was expected before 31 July 2026.
What happened to GROUP MINERVA?
What happened at GROUP MINERVA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Jeff Cavens stepped down as director. NBB
- Kristine Van Hool stepped down as director. NBB
- Charlotte Cavens stepped down as director. NBB
- Dirk Cavens stepped down as director. NBB
- New annual accounts for financial year 2024: loss of € 3.1 million. filed late Source: NBB ↗
- Jeff Cavens became a director. NBB
- Kristine Van Hool became a director. NBB
- Charlotte Cavens became a director. NBB
In short
From € 2 million loss in 2021 to € 3.1 million loss in 2024.
Paid € 301,928 in corporate taxes since 2021.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of TOXON comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
GROUP MINERVAThe shares are held by TOXON (100%). It owns 50% of Cep Invest Sinaia SRL, 50% of Triple Living Holding, 41.7% of Airport Garden, 33.3% of Wetinvest II, 25% of Universal Express Development and 25% of European Development North West itself.
Directors
According to the 2024 annual accounts
Jeff Cavens
Director
Also active at: DUCK, HAAGDOORN, BESSENVELD 3, Attis, BESSENVELD 2, GANDS, BESSENVELD 4, BESSENVELD 1 +34 more
since 2025 · until 2031
Director · represented by Kristine VAN HOOL
Also active at: Domein Lachenen, MANASALES
since 2025 · until 2031
Charlotte Cavens
Director
Also active at: HAAGDOORN, Cavens & Co, GANDS, GANDS Group, PORTUGAL REAL ESTATE INVESTMENTS COMPANY, TRIPLE LIVING HOLDING, Pulsepartner, Elements Real Estate I +15 more
since 2025 · until 2031
Dirk Cavens
Managing director
since 2021 · until 2027
Shareholders
100%
Participations
Cep Invest Sinaia SRL
50%
41.7%
33.3%
Universal Express Development
25%
European Development North West
25%
Establishments
Establishment units
Physical locations of this company
Léo Erreralaan 59
1180 Ukkel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0436.440.216
- VAT number
- BE 0436.440.216
- Registered office
- Léo Erreralaan 59, 1180 Ukkel
- Names & denominations
- GROUP MINERVA · K.V.H.
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 20 January 1989
- Peppol
- Active · Active since 27 Mar 2026
- Activities · NACE
Activiteiten van holdings
Projectontwikkeling voor woningbouw
Verhuur en exploitatie van eigen of geleasd residentieel onroerend goed, exclusief sociale woningen
Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen
Ontwikkeling van residentiële bouwprojecten
Holdings