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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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 32 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
AAROVA from Oudenaarde, company number BE0451263992, closed financial year 2025 with a result of € -139,353 after tax. For that financial year AAROVA recorded revenue of € 5.6 million and equity of € 2.5 million. Compared with financial year 2024, the result moved from € -212,418 to € -139,353. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on April 28, 2026.
€ 2.5 million
▼ 7% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -139,353
▲ 34 % less loss than in 2024
Profit after tax over the fiscal year.
€ 176,116
▼ 9% vs 2024
Cash and bank balances on the last day of the fiscal year.
People and assets in 2025
306.2
▲ 3.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 11.2 million
▲ 1% vs 2024
€ 36,600 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.
€ 695,094
▼ 24% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 2.7 million
▼ 10% vs 2024
€ 254,431 is repaid this year. At this pace the long-term loan is gone in ≈ 7 years.
€ 316,936
▼ 30% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 58 days on average.
€ 1.8 million
▲ 2% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 5,492,565 | € 5,444,115 | € 5,347,759 | € 5,621,617 | ▲ 5% |
| Profit after taxes | € 421,688 | € -170,680 | € -212,418 | € -139,353 | ▲ € 73,065 |
| Equity | € 3,101,443 | € 2,927,553 | € 2,649,644 | € 2,474,538 | ▼ 7% |
| Total debts | € 4,650,720 | € 5,433,571 | € 5,427,404 | € 4,911,764 | ▼ 10% |
| Cash | € 52,201 | € 44,981 | € 192,974 | € 176,116 | ▼ 9% |
| Land & buildings | € 5,189,934 | € 5,748,499 | € 5,570,319 | € 5,407,014 | ▼ 3% |
| Retained profit | € 2,205,702 | € 2,035,022 | € 1,822,604 | € 1,683,250 | ▼ 8% |
| Bank debt | € 2,247,545 | € 2,760,339 | € 3,012,130 | € 2,705,893 | ▼ 10% |
| Balance sheet total | € 8,387,103 | € 8,978,136 | € 8,694,060 | € 7,954,566 | ▼ 9% |
| Employees (FTE) | 325.2 | 323.8 | 302.7 | 306.2 | ▲ 3.5 |
Key figures of AAROVA, 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 AAROVA?
What happened at AAROVA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Piet D'Haeyer stepped down as director. NBB
- Matthias Tytgat stepped down as director. NBB
- Anne Saveyn stepped down as director. NBB
- lode Neyt stepped down as director. NBB
- Katia Moerman stepped down as director. NBB
- Klaus Van Hoecke stepped down as director. NBB
- Caroline Van Driessche stepped down as director. NBB
- Johan Heyman stepped down as director. NBB
In short
From € 421,688 profit in 2022 to € 139,353 loss in 2025.
Best year ever: 2022, with € 421,688 profit.
Pays suppliers within 58 days on average.
Management
It owns 2.1% of NV Bedrijvencentrum VLARD itself.
Directors
According to the 2025 annual accounts
Katia Moerman
Director
since 2023 · until 2026
since 2024 · until 2027
since 2023 · until 2026
since 2024 · until 2027
Caroline Van Driessche
Director
since 2023 · until 2026
Matthias Tytgat
Director
since 2025 · until 2028
Johan Heyman
Chairman of the board
since 2023 · until 2026
Establishments
Establishment units
Physical locations of this company
Industriepark "De Bruwaan" 85
9700 Oudenaarde
Industriepark "De Bruwaan" 34
9700 Oudenaarde
Active since 15 October 2008
Sint-Kornelisplein 1
9667 Horebeke
Active since 7 October 2011
Doorn 12
9700 Oudenaarde
Active since 14 October 2013
Industriepark "De Bruwaan" 1
9700 Oudenaarde
Active since 1 January 2019
Meersbloem-Melden 46
9700 Oudenaarde
Active since 1 January 2023
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0451.263.992
- VAT number
- BE 0451.263.992
- Registered office
- Industriepark "De Bruwaan" 85, 9700 Oudenaarde
- Names & denominations
- AAROVA
- Enterprise type
- Rechtspersoon
- Legal form
- Non-profit association
- Legal situation
- Normale toestand
- Start date
- 29 November 1993
- Peppol
- Active · Active since 17 Sept 2025
- Activities · NACE
Beschutte werkplaatsen
Beschutte en sociale werkplaatsen
Vervaardiging van bovenkleding
Confectie van bovenkleding voor heren, dames en kinderen
Vervaardiging van andere bovenkleding
Activiteiten van eetgelegenheden met volledige bediening
Overige activiteiten op het gebied van drukwerk
Overige drukkerijen
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