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 15 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
ARVAL BELGIUM from Zaventem, company number BE0436781102, closed financial year 2025 with a result of € 67.7 million after tax. For that financial year ARVAL BELGIUM recorded revenue of € 1.1 billion and equity of € 173.4 million. Compared with financial year 2024, the result moved from € 84.8 million to € 67.7 million. The company is profitable. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 1, 2026.
€ 173.4 million
▲ 2% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 67.7 million
▼ 20% vs 2024
Profit after tax over the fiscal year.
€ 22.7 million
▲ 20% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 65 million paid out
96 % of the profit went to the shareholders, mostly to Arval service lease (100 % of the shares). That is where the money ends up.
People and assets in 2025
448.9
▼ 4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 43.2 million
▼ 2% vs 2024
€ 96,200 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.
€ 287,222
▼ 30% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 3.5 billion
▲ 5% vs 2024
€ 816.2 million is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 56.2 million
▼ 37% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 37 days on average.
€ 10.8 million
▼ 7% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 709,852,422 | € 855,209,946 | € 1,040,598,299 | € 1,148,915,334 | ▲ 10% |
| Profit after taxes | € 75,431,927 | € 75,629,433 | € 84,808,193 | € 67,741,506 | ▼ 20% |
| Equity | € 115,269,464 | € 135,898,897 | € 170,707,091 | € 173,448,597 | ▲ 2% |
| Total debts | € 2,641,564,979 | € 3,350,374,332 | € 3,784,122,100 | € 3,976,811,477 | ▲ 5% |
| Cash | € 412,086,322 | € 62,706,340 | € 18,926,436 | € 22,698,252 | ▲ 20% |
| Retained profit | € 111,540,943 | € 132,170,376 | € 166,978,570 | € 169,720,076 | ▲ 2% |
| Dividend | € 66,000,000 | € 55,000,000 | € 50,000,000 | € 65,000,000 | ▲ 30% |
| Bank debt | € 2,206,683,000 | € 2,820,563,000 | € 3,277,593,000 | € 3,452,645,000 | ▲ 5% |
| Balance sheet total | € 2,759,879,482 | € 3,489,085,269 | € 3,957,562,230 | € 4,152,929,113 | ▲ 5% |
| Employees (FTE) | 435 | 449.8 | 452.9 | 448.9 | ▼ 4 |
Key figures of ARVAL BELGIUM, 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 ARVAL BELGIUM?
What happened at ARVAL BELGIUM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Stefan Majtan stepped down as director. NBB
- Simona Dumitrescu stepped down as director. NBB
- Christophe Conegero stepped down as director. NBB
- Grzegorz Konrad Szymanski stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 67.7 million (▼ 20% vs 2024). Source: NBB ↗
- Marcus Schulz stepped down as director. NBB
- Grzegorz Konrad Szymanski became a director. NBB
- Simona Dumitrescu became a director. NBB
In short
From € 75.4 million profit in 2022 to € 67.7 million profit in 2025.
Paid € 103.6 million in corporate taxes since 2022.
Best year ever: 2024, with € 84.8 million profit.
Paid out € 236 million in dividends to the owners in total.
Management
The shares are held by Arval service lease (100%). It owns 100% of Locadif itself.
Directors
According to the 2025 annual accounts
Stefan Majtan
Director
since 2022 · until 2027
Simona Dumitrescu
Director
since 2025 · until 2027
Christophe Conegero
Director
since 2021 · until 2027
Marcus Schulz
Director
since 2023 · until 2025
Grzegorz Konrad Szymanski
Director
since 2025 · until 2027
Shareholders
Arval service lease
100%
Participations
100%
Establishments
Establishment units
Physical locations of this company
Ikaroslaan 99
1930 Zaventem
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 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
- 0436.781.102
- VAT number
- BE 0436.781.102
- Registered office
- Ikaroslaan 99, 1930 Zaventem
- Names & denominations
- ARVAL BELGIUM
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 16 February 1989
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Verhuur en lease van personenauto’s en andere lichte motorvoertuigen
Verhuur van auto's
Verhuur en lease van tenten
Detailhandel in auto's en lichte bestelwagens (<= 3,5 ton)
Detailhandel in auto's en lichte bestelwagens (= 3,5 ton)