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 %.
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Busy address KBO
38 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2026
CASPIAN TRADITION from Waterloo, company number BE0454732337, closed financial year 2026 with a result of € 213,262 after tax. For that financial year CASPIAN TRADITION recorded revenue of € 18.8 million and equity of € 2.5 million. Compared with financial year 2025, the result moved from € 290,478 to € 213,262. The company is profitable. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on October 20, 2026.
€ 2.5 million
▲ 1% vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 213,262
▼ 27% vs 2025
Profit after tax over the fiscal year.
€ 591,627
▼ 22% vs 2025
Cash and bank balances on the last day of the fiscal year.
€ 174,000 paid out
82 % of the profit went to the shareholders, the rest stayed in the company.
People and assets in 2026
17.2
▲ 3.4 vs 2025
Average over the fiscal year, from the social balance sheet.
€ 1.3 million
▲ 7% vs 2025
€ 77,800 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.
€ 612,789
▲ 39% vs 2025
Of which on lease € 440,573.
Debts at end 2026
€ 6.9 million
▼ 7% vs 2025
€ 747,218 is repaid this year. At this pace the long-term loan is gone in ≈ 6 years.
€ 1.6 million
▼ 21% vs 2025
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 37 days on average.
€ 194,315
▼ 15% vs 2025
Taxes, VAT and social contributions still to pay.
| 2023 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Revenue | € 14,693,086 | € 15,880,844 | € 17,766,783 | € 18,819,917 | ▲ 6% |
| Profit after taxes | € 577,544 | € 364,117 | € 290,478 | € 213,262 | ▼ 27% |
| Equity | € 2,312,914 | € 2,367,214 | € 2,473,875 | € 2,503,320 | ▲ 1% |
| Total debts | € 8,243,355 | € 8,985,898 | € 9,922,903 | € 9,122,952 | ▼ 8% |
| Cash | € 654,150 | € 846,783 | € 760,053 | € 591,627 | ▼ 22% |
| Land & buildings | € 3,796,634 | € 3,626,790 | € 3,456,946 | € 3,295,446 | ▼ 5% |
| Retained profit | € 960,656 | € 1,024,773 | € 1,141,251 | € 1,180,513 | ▲ 3% |
| Dividend | € 174,000 | € 300,000 | € 174,000 | € 174,000 | |
| Bank debt | € 6,492,047 | € 5,877,746 | € 7,349,947 | € 6,868,114 | ▼ 7% |
| Balance sheet total | € 10,556,269 | € 11,353,112 | € 12,396,778 | € 11,626,272 | ▼ 6% |
| Employees (FTE) | 16.3 | 17.1 | 13.8 | 17.2 | ▲ 3.4 |
Key figures of CASPIAN TRADITION, 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 October 2027.
What happened to CASPIAN TRADITION?
What happened at CASPIAN TRADITION in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Javad ARYA stepped down as director. NBB
- Rouhangiz ARYA stepped down as director. NBB
- Ahmad RAZAVI stepped down as director. NBB
- New annual accounts for financial year 2026: profit of € 213,262 (▼ 27% vs 2025). Source: NBB ↗
- New establishment in Brussel. KBO
- New establishment in Waterloo. KBO
- Start of the company according to the CBE. KBO
In short
From € 577,544 profit in 2023 to € 213,262 profit in 2026.
Paid € 611,567 in corporate taxes since 2023.
Best year ever: 2023, with € 577,544 profit.
Paid out € 822,000 in dividends to the owners in total.
Management
Directors
According to the 2026 annual accounts
Javad ARYA
Director
· until 2028
Rouhangiz ARYA
Director
· until 2028
Ahmad RAZAVI
Managing director
· until 2028
Establishments
Establishment units
Physical locations of this company
Avenue des Pâquerettes 55
1410 Waterloo
Avenue des Pâquerettes 55 box 36/37
1410 Waterloo
Active since 2 August 1995
Werkhuizenkaai 22-23-G302
1000 Brussel
Active since 6 July 2011
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 38 companies are registered at this address.
All companies at this address →L'Equipement sous-marin - Anciens Etablissements E. Xhignesse
€ 59,123 gross margin · 2025
MATAM
€ 1.1 million gross margin · 2025
Etablissements LHOIR ET MARTEAU
€ 676,226 gross margin · 2025
INTERVISION BENELUX
ENTREPRISE DE PEINTURE BAILLY ET CIE
€ 93,856 gross margin · 2023
+33 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
- 0454.732.337
- VAT number
- BE 0454.732.337
- Registered office
- Avenue des Pâquerettes 55, 1410 Waterloo
- Names & denominations
- CASPIAN TRADITION
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 23 March 1995
- Peppol
- Active · Active since 26 Nov 2025
- Activities · NACE
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