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 45 % of short-term debt in 2026; threshold 65 %.
Financials
Financial year 2026
FONVAL from Aywaille, company number BE0446634817, closed financial year 2026 with a result of € 841,356 after tax. For that financial year FONVAL recorded a gross margin of € 3.8 million and equity of € 2 million. Compared with financial year 2025, the result moved from € 1.3 million to € 841,356. The company is profitable. 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 30, 2026.
€ 2 million
▲ 2% vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 841,356
▼ 36% vs 2025
Profit after tax over the fiscal year.
€ 329,820
▲ 71% vs 2025
Cash and bank balances on the last day of the fiscal year.
€ 800,000 paid out
95 % of the profit went to the shareholders, the rest stayed in the company.
People and assets in 2026
41.4
▲ 1 vs 2025
Average over the fiscal year, from the social balance sheet.
€ 2.2 million
▲ 11% vs 2025
€ 52,200 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.
€ 35,120
▼ 30% vs 2025
Book value of vehicles, furniture and equipment.
Debts at end 2026
None
No bank loans on the last day of the fiscal year.
€ 486,305
▼ 20% vs 2025
Supplier invoices still open on the last day of the fiscal year.
€ 288,826
▲ 1% vs 2025
Taxes, VAT and social contributions still to pay.
| 2023 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Gross margin | € 4,482,675 | € 4,848,239 | € 3,947,797 | € 3,791,856 | ▼ 4% |
| Profit after taxes | € 1,167,208 | € 1,928,722 | € 1,312,013 | € 841,356 | ▼ 36% |
| Equity | € 4,457,501 | € 2,682,238 | € 1,994,251 | € 2,035,607 | ▲ 2% |
| Total debts | € 1,870,599 | € 2,435,643 | € 3,406,481 | € 1,600,817 | ▼ 53% |
| Cash | € 581,961 | € 381,441 | € 193,229 | € 329,820 | ▲ 71% |
| Land & buildings | € 1,716,030 | - | - | - | |
| Retained profit | € 3,920,316 | € 2,303,252 | € 1,615,265 | € 1,656,621 | ▲ 3% |
| Dividend | € 1,000,000 | € 2,000,000 | € 2,000,000 | € 800,000 | ▼ 60% |
| Bank debt | € 41,667 | € 0 | € 480,000 | € 0 | ▼ 100% |
| Balance sheet total | € 6,328,100 | € 5,117,881 | € 5,400,732 | € 3,636,424 | ▼ 33% |
| Employees (FTE) | 41.2 | 41.6 | 40.4 | 41.4 | ▲ 1 |
Key figures of FONVAL, fiscal years 2023 to 2026, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2027) expected before 31 August 2027.
What happened to FONVAL?
What happened at FONVAL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2026: profit of € 841,356 (▼ 36% vs 2025). Source: NBB ↗
- New establishment in Aywaille. KBO
- Start of the company according to the CBE. KBO
In short
From € 1.2 million profit in 2023 to € 841,356 profit in 2026.
Paid € 2 million in corporate taxes since 2023.
Best year ever: 2024, with € 1.9 million profit.
On average € 91,600 of value added per employee in 2026.
Management
Behind FONVAL are Gérald Noirfalisse, Philippe Noirfalisse and Jean-Luc Noirfalisse. Gérald Noirfalisse is also behind Les Magasins Noirfalisse, Noirfalisse Distribution, CODEMI, TARCEL Entreprises and AMAY DISTRIBUTION. Philippe Noirfalisse is also behind FONVIM.
Directors
According to the 2026 annual accounts
Gérald Noirfalisse
Managing director
Also active at: Les Magasins Noirfalisse, Noirfalisse Distribution, CODEMI, TARCEL Entreprises, AMAY DISTRIBUTION, BEAUTY CITY, FONVIM
Jean-Luc Noirfalisse
Director
Establishments
Establishment units
Physical locations of this company
Avenue de la Porallée 36 box A
4920 Aywaille
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 6 companies are registered at this address.
All companies at this address →TARCEL Entreprises same network
€ 764,997 gross margin · 2026
BEAUTY CITY same network
€ 52,819 gross margin · 2026
HOBBY ET HOME
€ 2.6 million gross margin · 2025
HOBBY UNITE
FONVIM same network
€ 939,177 gross margin · 2026
+1 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
- 0446.634.817
- VAT number
- BE 0446.634.817
- Registered office
- Avenue de la Porallée 36 bus A, 4920 Aywaille
- Names & denominations
- FONVAL · Fonval
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 19 February 1992
- Peppol
- Active · Active since 25 Nov 2025
- Activities · NACE
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Detailhandel in niet-gespecialiseerde winkels waarbij voedings- en genotmiddelen overheersen (verkoopsoppervlakte = 2500 m²)