ACTIVE

FONVAL

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Financial year 2026 · Closed on 31/01/2026

Net result841,4 k €-35,9 %over 1 year

Gross margin3,8 M €-4,0 %over 1 year

Equity2 M €+2,1 %over 1 year

Workforce41,4 ETP+2,5 %over 1 year

Identity

Source · BCE/KBO

FONVAL is a Public limited company incorporated in 1992. Its main activity is: Retail sale in non-specialised stores with food, beverages or tobacco predominating. Its registered office is in Aywaille. It employs on average 41,4 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0446.634.817
Incorporation: 19/02/1992
Legal form: Public limited company
Registered office: Avenue de la Porallée 36 box A
4920 Aywaille · WallonieSee on map
Contributed capital: 378 986,00 €
Latest accounts: 31/01/2026
Average workforce: 41,4 ETP

Activities (NACE)

47110Retail sale in non-specialised stores with food, beverages or tobacco predominating· main 47114Retail sale in non-specialised stores with food, beverages or tobacco predominating 47115Retail sale in non-specialised stores with food, beverages or tobacco predominating 52114Warehousing and storage 52115Warehousing and storage

Joint committees (2)

119
20201

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 20 filings

Trend over 20 financial years

	2026		2025		2024		2023		2022
Income statement
Gross margin	3,8 M €	-4.0%	3,9 M €	-18.6%	4,8 M €	+8.2%	4,5 M €	-0.3%	4,5 M €
EBITDA	1,6 M €	-18.5%	1,9 M €	-31.3%	2,8 M €	+36.7%	2 M €	-21.2%	2,6 M €
Operating result	1,2 M €	-24.9%	1,6 M €	-33.5%	2,5 M €	+63.6%	1,5 M €	-24.7%	2 M €
Net result	841,4 k €	-35.9%	1,3 M €	-32.0%	1,9 M €	+65.2%	1,2 M €	-22.5%	1,5 M €
Balance sheet
Equity	2 M €	+2.1%	2 M €	-25.6%	2,7 M €	-39.8%	4,5 M €	+3.9%	4,3 M €
Total assets	3,6 M €	-32.7%	5,4 M €	+5.5%	5,1 M €	-19.1%	6,3 M €	-0.9%	6,4 M €
Cash	329,8 k €	+70.7%	193,2 k €	-49.3%	381,4 k €	-34.5%	582 k €	+189%	201,4 k €
Debts	1,6 M €	-53.0%	3,4 M €	+40.0%	2,4 M €	+30.1%	1,9 M €	-10.6%	2,1 M €
Other
Workforce	41,4 ETP	+2.5%	40,4 ETP	-2.9%	41,6 ETP	+1.0%	41,2 ETP	+0.5%	41,0 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/01/2026

3 active · 3 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Gérald Noirfalisse	Managing directorDirector2015 accountsended
Jean-Luc Noirfalisse	Director
Philippe Noirfalisse	Director

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Les Magasins Noirfalisse0403.969.762Represented by Yves Noirfalisse	Director2007 accounts
TARCEL Entreprises0442.691.073Represented by Yves Noirfalisse	Director2015 accounts
Yves Noirfalisse	Managing director2016 accounts

Other companies at this address

Avenue de la Porallée 36 4920 Aywaille

Company	CBE no.
BEAUTY CITY● Active	0458.907.790
FONVIM● Active	1005.389.459
HOBBY ET HOME● Active	0477.334.426
HOBBY UNITE● Active	0650.638.188
TARCEL Entreprises● Active	0442.691.073
UNIFON● Active	1009.034.679

Full financial information

Source · NBB

	2026	2025	2024	2023	2022	2021
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/02/2025	01/02/2024	01/02/2023	01/02/2022	01/02/2021	01/02/2020
Closing of the financial year	31/01/2026	31/01/2025	31/01/2024	31/01/2023	31/01/2022	31/01/2021
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	30/07/2026	27/06/2025	27/06/2024	06/07/2023	22/06/2022	29/06/2021
General meeting	17/07/2026	28/05/2025	12/06/2024	07/06/2023	24/05/2022	02/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/01/2026	17/07/2026	30/07/2026	French	PDF
Abridged model	31/01/2025	28/05/2025	27/06/2025	French	PDF
Abridged model	31/01/2024	12/06/2024	27/06/2024	French	PDF
Abridged model	31/01/2023	07/06/2023	06/07/2023	French	PDF
Abridged model	31/01/2022	24/05/2022	22/06/2022	French	PDF
Abridged model	31/01/2021	02/06/2021	29/06/2021	French	PDF
Abridged model	31/01/2020	10/06/2020	01/07/2020	French	PDF
Abridged model	31/01/2019	12/06/2019	10/07/2019	French	PDF
Abridged model	31/01/2018	11/06/2018	10/07/2018	French	PDF
Abridged model	31/01/2017	29/06/2017	25/07/2017	French	PDF
Abridged model	31/01/2016	05/07/2016	29/07/2016	French	PDF
Abridged model	31/01/2015	04/07/2015	31/07/2015	French	PDF
Abridged model	31/01/2014	25/06/2014	23/07/2014	French	PDF
Abridged model	31/01/2013	12/07/2013	25/07/2013	French	PDF
Abridged model	31/01/2012	13/07/2012	09/08/2012	French	PDF
Abridged model	31/01/2011	08/07/2011	01/08/2011	French	PDF
Abridged model	31/01/2010	02/07/2010	19/07/2010	French	PDF
Abridged model	31/01/2009	06/07/2009	16/07/2009	French	PDF
Abridged model	31/01/2008	07/07/2008	23/07/2008	French	PDF
Abridged model	31/01/2007	02/07/2007	31/07/2007	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Board of directors

Source · NBB, accounts to 31/01/2026

3 active · 3 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Gérald Noirfalisse	Managing directorDirector2015 accountsended
Jean-Luc Noirfalisse	Director
Philippe Noirfalisse	Director

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Les Magasins Noirfalisse0403.969.762Represented by Yves Noirfalisse	Director2007 accounts
TARCEL Entreprises0442.691.073Represented by Yves Noirfalisse	Director2015 accounts
Yves Noirfalisse	Managing director2016 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Restructuring14/02/2024
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring14/12/2023
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates28/06/2022
DEMISSIONS, NOMINATIONS
PDF
Other27/06/2017
OBJET - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates02/12/2016
DEMISSIONS, NOMINATIONS
PDF
Mandates11/02/2016
DEMISSIONS, NOMINATIONS
PDF
Mandates20/07/2010
DEMISSIONS, NOMINATIONS
PDF
Registered office20/06/2006
Transfert du siège social
PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings20 filings

Mandates

Jean-Luc Noirfalisse

Gérald Noirfalisse

Philippe Noirfalisse

Les Magasins Noirfalisse

TARCEL Entreprises

Yves Noirfalisse

19921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023202420252026

FONVAL

Avenue de la Porallée 36 bte A, 4920 Aywaille

Director

Managing director

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Avenue de la Porallée 36 bte A, 4920 AywailleCurrent	accounts 2022 → 2026	Accounts 2026 · 2026-00370318

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
FONVALCurrent	accounts 2007 → 2026	Accounts 2026 · 2026-00370318

Events

2026
Annual accounts 2026841,4 k €↓
2025
Annual accounts 20251,3 M €↓
2024
Annual accounts 20241,9 M €↑
2023
Annual accounts 20231,2 M €↓
2022
Annual accounts 20221,5 M €↑
2021
Annual accounts 20211,4 M €↑
2020
Annual accounts 2020451,3 k €↓
2019
Annual accounts 20191 M €↓
2018
Annual accounts 20181,1 M €↑
2017
Annual accounts 20171,1 M €↑
2016
Annual accounts 20161 M €↑
2015
Annual accounts 2015982,4 k €↑
2014
Annual accounts 2014815,1 k €↑
2013
Annual accounts 2013554,3 k €↓
2012
Annual accounts 2012734,8 k €↑
2011
Annual accounts 2011540,6 k €↑
2010
Annual accounts 2010507,8 k €↑
2009
Annual accounts 2009285,1 k €↓
2008
Annual accounts 2008441,6 k €↑
2007
Annual accounts 2007-62,8 k €
19/02/1992
IncorporationPublic limited company

FONVAL

Overview

Identity

Financials

Valuation

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline

Timeline

Registered offices

Company names

Events