Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 29 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
CVTrust from Brussel, company number BE0819649109, closed financial year 2025 with a result of € 11,973 after tax. For that financial year CVTrust recorded a gross margin of € 228,029 and equity of € 2,955. Compared with financial year 2024, the result moved from € -11,608 to € 11,973. Profitable, and profit is growing. 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 September 29, 2026.
€ 2,955
▲ € 11,973 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 11,973
▲ still € 11,608 loss in 2024
Profit after tax over the fiscal year.
€ 0
▼ 100% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -768,679.
People and assets in 2025
€ 47,882
▲ 7% vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 159
▼ 61% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 94,981
▼ 45% vs 2024
€ 65,789 is repaid this year. At this pace the long-term loan is gone in ≈ 1 years.
€ 100,988
▲ 23% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 65,924
▼ 13% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 120,805 | € 161,014 | € 202,218 | € 228,029 | ▲ 13% |
| Profit after taxes | € -116,503 | € -75,791 | € -11,608 | € 11,973 | ▲ € 23,581 |
| Equity | € -46,618 | € 2,590 | € -9,018 | € 2,955 | ▲ € 11,973 |
| Total debts | € 484,627 | € 400,397 | € 337,192 | € 272,523 | ▼ 19% |
| Cash | - | € 14,797 | € 66 | € 0 | ▼ 100% |
| Retained profit | € -693,252 | € -769,044 | € -780,652 | € -768,679 | ▲ € 11,973 |
| Bank debt | € 279,539 | € 256,789 | € 172,883 | € 94,981 | ▼ 45% |
| Balance sheet total | € 438,009 | € 402,987 | € 328,175 | € 275,478 | ▼ 16% |
Key figures of CVTrust, 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 CVTrust?
What happened at CVTrust in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Shweb SRL stepped down as director. NBB
- Sparaxis SA stepped down as director. NBB
- David GOLDENBERG stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 11,973. filed late Source: NBB ↗
- Shweb SRL became a director. NBB
- Sparaxis SA became a director. NBB
- David GOLDENBERG became a director. NBB
- New establishment in Brussel. KBO
In short
From € 116,503 loss in 2022 to € 11,973 profit in 2025.
Paid € 460 in corporate taxes since 2022.
Best year ever: 2025, with € 11,973 profit.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of Pascal Laffineur comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
CVTrustThe shares are held by Pascal Laffineur (4.2%).
Directors
According to the 2025 annual accounts
Director · represented by Van Dam Shelly
since 2021 · until 2027
Director · represented by Loyens Colin
Also active at: C.P. Bourg, A.M.B., Jean Goldschmidt International, Ateliers Pierre Cerfontaine, Floridienne, Fonderies J. Marichal Ketin et Cie, JUNGLING, MEBF +224 more
since 2021 · until 2027
David GOLDENBERG
Managing director
since 2021 · until 2027
Shareholders
4.2%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Louizalaan 231
1050 Brussel
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0819.649.109
- VAT number
- BE 0819.649.109
- Registered office
- Louizalaan 231, 1050 Brussel
- Names & denominations
- CVTrust
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 14 October 2009
- Peppol
- Active · Active since 23 Dec 2025
- Activities · NACE
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