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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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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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 64 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
CAVALLI from Blankenberge, company number BE0780454773, closed financial year 2025 with a result of € -24,138 after tax. For that financial year CAVALLI recorded a gross margin of € 414,071 and equity of € -544,103. Compared with financial year 2024, the result moved from € -64,692 to € -24,138. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 9, 2026.
€ -544,103
▼ € 24,138 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -24,138
▲ 63 % less loss than in 2024
Profit after tax over the fiscal year.
€ 193,179
▲ 28% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -644,103.
People and assets in 2025
4.4
▲ 0.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 150,141
▼ 17% vs 2024
€ 34,100 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.
€ 1,521
▼ 41% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 2.6 million
Loans from banks and other lenders, long and short.
€ 33,138
▼ 10% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 18,295
▼ 49% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 387,198 | € 769,206 | - | - | |
| Gross margin | € 121,350 | € 321,229 | € 453,643 | € 414,071 | ▼ 9% |
| Profit after taxes | € -365,931 | € -189,342 | € -64,692 | € -24,138 | ▲ € 40,554 |
| Equity | € -265,931 | € -455,273 | € -519,965 | € -544,103 | ▼ € 24,138 |
| Total debts | € 3,659,971 | € 3,724,363 | € 3,784,411 | € 3,670,739 | ▼ 3% |
| Cash | € 102,963 | € 89,357 | € 151,093 | € 193,179 | ▲ 28% |
| Land & buildings | € 3,149,788 | € 3,040,839 | € 2,932,251 | € 2,819,655 | ▼ 4% |
| Retained profit | € -365,931 | € -555,273 | € -619,965 | € -644,103 | ▼ € 24,138 |
| Bank debt | € 2,600,000 | € 2,600,000 | € 2,600,000 | € 2,600,000 | |
| Balance sheet total | € 3,394,040 | € 3,269,090 | € 3,264,446 | € 3,126,636 | ▼ 4% |
| Employees (FTE) | - | 5 | 4.2 | 4.4 | ▲ 0.2 |
Key figures of CAVALLI, 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 CAVALLI?
What happened at CAVALLI in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 24,138. Source: NBB ↗
- Tholinco BV became a director. NBB
- New establishment in Blankenberge. KBO
- Start of the company according to the CBE. KBO
- Ben Van den Keybus became a director. NBB
In short
From € 365,931 loss in 2022 to € 24,138 loss in 2025.
On average € 94,100 of value added per employee in 2025.
Management
Behind CAVALLI are Tholinco BV and Ben Van den Keybus. The same people are also behind WP HOTELS EN EVENTS, B&A RENT EN EVENT and WP Immo Group. Tholinco BV is also behind AMAZING LAND, ENSO HOSPITALITY, LA RESERVE INVEST, Urban Gardens and DURBUY SHOPPING. Ben Van den Keybus is also behind Careho, RIANT SEJOUR, Hotel Paradisio, WP Theater and WP Rent & Event.
Directors
According to the 2025 annual accounts
Director · represented by Thomas Van der Linden
Also active at: AMAZING LAND, ENSO HOSPITALITY, LA RESERVE INVEST, WP HOTELS EN EVENTS, B&A RENT EN EVENT, WP Immo Group, Urban Gardens, DURBUY SHOPPING +2 more
since 2025
Ben Van den Keybus
Director
Also active at: Careho, RIANT SEJOUR, Hotel Paradisio, WP HOTELS EN EVENTS, B&A RENT EN EVENT, Witte Paard Events, WP Theater, WP Rent & Event +6 more
since 2022
Establishments
Establishment units
Physical locations of this company
Notebaertstraat 2
8370 Blankenberge
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0780.454.773
- VAT number
- BE 0780.454.773
- Registered office
- Notebaertstraat 2, 8370 Blankenberge
- Names & denominations
- CAVALLI
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 14 January 2022
- Peppol
- Active · Active since 21 Oct 2026
- Activities · NACE
Hotels en dergelijke accommodatie