ACTIVE

HIVAN

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Financial year 2025 · closed on 31/12/2025

Net result

269,3 k €

-46.1% YoY

Gross margin

417,5 k €

-36.2% YoY

Equity

1,9 M €

+16.5% YoY

What does HIVAN do?

HIVAN is a Private limited company incorporated in 2002. Its main activity is: Office administrative and support activities. Its registered office is in De Panne.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0477.897.620

Incorporation

04/07/2002

Legal form

Private limited company

Registered office

Groene-Biezenlaan 55
8660 De Panne · FlandreSee on map

Contributed capital

115 190,01 €

Latest accounts

31/12/2025

Activities (NACE)

82100Office administrative and support activities· main 82110Combined office administrative service activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	417,5 k €	-36.2%	654,7 k €	+96.2%	333,7 k €	+30.2%	256,4 k €	+15.8%	221,5 k €	-28.3%	309 k €	-5.9%	328,5 k €	+67.0%	196,7 k €	+2.7%	191,5 k €	-13.6%	221,6 k €	-7.1%	238,6 k €	-29.4%	337,9 k €	+16.8%	289,2 k €	+174%	105,7 k €	+83.8%	57,5 k €	-6.0%	61,2 k €	-29.5%	86,8 k €	+20.6%	72 k €	-8.4%	78,6 k €	+7.3%	73,3 k €
EBITDA	413,7 k €	-36.3%	649,8 k €	+97.4%	329,2 k €	+29.8%	253,7 k €	+16.3%	218,2 k €	-27.1%	299,2 k €	-8.1%	325,4 k €	+67.9%	193,8 k €	+6.7%	181,7 k €	-16.6%	217,8 k €	-7.6%	235,7 k €	-29.8%	335,6 k €	+17.1%	286,5 k €	+180%	102,2 k €	+84.8%	55,3 k €	-6.3%	59 k €	-30.3%	84,6 k €	+21.7%	69,5 k €	-8.7%	76,1 k €	+7.5%	70,8 k €
Operating result	396 k €	-37.8%	636,8 k €	+145%	259,8 k €	+40.9%	184,4 k €	+20.7%	152,8 k €	-37.3%	243,8 k €	+0.4%	242,9 k €	+113%	114,2 k €	+7.5%	106,2 k €	-23.1%	138,1 k €	-7.0%	148,6 k €	-41.5%	254 k €	+22.2%	207,9 k €	+239%	61,4 k €	+277%	16,3 k €	-15.9%	19,4 k €	-61.9%	50,8 k €	+51.4%	33,5 k €	-20.2%	42 k €	+14.6%	36,7 k €
Net result	269,3 k €	-46.1%	499,6 k €	+199%	166,9 k €	+25.2%	133,3 k €	+21.4%	109,8 k €	-31.8%	161,1 k €	+7.4%	149,9 k €	+112%	70,8 k €	+27.1%	55,7 k €	-28.4%	77,8 k €	-16.1%	92,8 k €	-36.7%	146,5 k €	+20.8%	121,2 k €	+133%	52,1 k €	+224%	16,1 k €	-0.5%	16,2 k €	-60.0%	40,5 k €	+74.9%	23,2 k €	-23.6%	30,3 k €	+24.2%	24,4 k €
Balance sheet
Equity	1,9 M €	+16.5%	1,6 M €	+44.1%	1,1 M €	+17.3%	965,3 k €	-10.7%	1,1 M €	-21.5%	1,4 M €	+13.3%	1,2 M €	+14.1%	1,1 M €	-6.8%	1,1 M €	+5.1%	1,1 M €	+7.7%	1 M €	+8.8%	928,1 k €	+18.7%	781,6 k €	+90.2%	410,9 k €	+8.5%	378,7 k €	+4.4%	362,6 k €	+4.7%	346,4 k €	+13.2%	305,9 k €	+8.2%	282,8 k €	+12.0%	252,4 k €
Total assets	2 M €	+16.8%	1,7 M €	+40.3%	1,2 M €	-4.8%	1,3 M €	-16.6%	1,6 M €	-8.0%	1,7 M €	+10.8%	1,5 M €	+11.2%	1,4 M €	-6.9%	1,5 M €	+3.9%	1,4 M €	+14.1%	1,3 M €	-13.1%	1,4 M €	-0.7%	1,5 M €	+131%	626,7 k €	+11.9%	560,3 k €	-0.6%	563,4 k €	+8.9%	517,5 k €	+7.8%	479,9 k €	+16.2%	413 k €	+9.2%	378,4 k €
Cash	146,8 k €	-81.5%	793,7 k €	+2387%	31,9 k €	-75.5%	130,2 k €	+3.9%	125,3 k €	+577%	18,5 k €	-47.3%	35,1 k €	+69.1%	20,8 k €	-50.0%	41,5 k €	-37.5%	66,4 k €	+14.2%	58,2 k €	-13.8%	67,5 k €	-55.2%	150,8 k €	+106%	73,1 k €	+819%	8 k €	-43.4%	14,1 k €	-7.8%	15,2 k €	+44.9%	10,5 k €	+31.3%	8 k €	-44.1%	14,3 k €
Debts	129,1 k €	+23.3%	104,7 k €	-0.4%	105,1 k €	-68.7%	335,7 k €	-30.3%	481,3 k €	+52.7%	315,2 k €	+1.6%	310,4 k €	+2.7%	302,4 k €	-7.8%	327,8 k €	+1.9%	321,7 k €	+39.2%	231,1 k €	-53.9%	501,1 k €	-22.6%	647,2 k €	+211%	208,2 k €	+17.8%	176,8 k €	-7.8%	191,8 k €	+23.3%	155,5 k €	-1.8%	158,4 k €	+41.0%	112,3 k €	-0.4%	112,7 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 3 ended

Active mandates

BERNARD HIMPENS

Director

Active

LUTGARDE VANTRAPPEN

Director

Active

Ended mandates

Bernard Himpens

Manager

Ended

Lut Vantrappen

Manager

Ended

Zaakvoerder Vantrappen Lut

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	02/07/2026	24/06/2025	10/06/2024	26/06/2023	12/07/2022	14/06/2021
General meeting	13/06/2026	14/06/2025	08/06/2024	10/06/2023	11/06/2022	12/06/2021
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

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	13/06/2026	02/07/2026	Dutch	PDF
Micro model	31/12/2024	14/06/2025	24/06/2025	Dutch	PDF
Micro model	31/12/2023	08/06/2024	10/06/2024	Dutch	PDF
Micro model	31/12/2022	10/06/2023	26/06/2023	Dutch	PDF
Micro model	31/12/2021	11/06/2022	12/07/2022	Dutch	PDF
Micro model	31/12/2020	12/06/2021	14/06/2021	Dutch	PDF
Micro model	31/12/2019	13/06/2020	30/06/2020	Dutch	PDF
Micro model	31/12/2018	08/06/2019	20/06/2019	Dutch	PDF
Micro model	31/12/2017	09/06/2018	19/06/2018	Dutch	PDF
Micro model	31/12/2016	10/06/2017	04/07/2017	Dutch	PDF
Abridged model	31/12/2015	11/06/2016	06/07/2016	Dutch	PDF
Abridged model	31/12/2014	13/06/2015	08/07/2015	French	PDF
Abridged model	31/12/2013	14/06/2014	25/07/2014	Dutch	PDF
Abridged model	31/12/2012	08/06/2013	02/07/2013	Dutch	PDF
Abridged model	31/12/2011	09/06/2012	18/06/2012	Dutch	PDF
Abridged model	31/12/2010	11/06/2011	04/07/2011	Dutch	PDF
Abridged model	31/12/2009	12/06/2010	06/07/2010	Dutch	PDF
Abridged model	31/12/2008	13/06/2009	06/07/2009	Dutch	PDF
Abridged model	31/12/2007	14/06/2008	18/06/2008	Dutch	PDF
Abridged model	31/12/2006	09/06/2007	06/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 3 ended

Active mandates

BERNARD HIMPENS

Director

Active

LUTGARDE VANTRAPPEN

Director

Active

Ended mandates

Bernard Himpens

Manager

Ended

Lut Vantrappen

Manager

Ended

Zaakvoerder Vantrappen Lut

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Registered office21/03/2025
MAATSCHAPPELIJKE ZETEL
PDF
Mandates29/12/2021
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Capital / shares27/02/2018
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office17/05/2016
MAATSCHAPPELIJKE ZETEL
PDF
Registered office16/03/2016
MAATSCHAPPELIJKE ZETEL
PDF
Registered office02/02/2015
MAATSCHAPPELIJKE ZETEL - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Capital / shares21/01/2014
KAPITAAL - AANDELEN
PDF
Capital / shares21/02/2013
KAPITAAL - AANDELEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

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

See the Business plan

2025
Annual accounts 2025269,3 k €↓
2024
Annual accounts 2024499,6 k €↑
2023
Annual accounts 2023166,9 k €↑
2022
Annual accounts 2022133,3 k €↑
2021
Annual accounts 2021109,8 k €↓
2020
Annual accounts 2020161,1 k €↑
2019
Annual accounts 2019149,9 k €↑
2018
Annual accounts 201870,8 k €↑
2017
Annual accounts 201755,7 k €↓
2016
Annual accounts 201677,8 k €↓
2015
Annual accounts 201592,8 k €↓
2014
Annual accounts 2014146,5 k €↑
2013
Annual accounts 2013121,2 k €↑
2012
Annual accounts 201252,1 k €↑
2012
Name changeHIVAN
2011
Annual accounts 201116,1 k €↓
2010
Annual accounts 201016,2 k €↓
2009
Annual accounts 200940,5 k €↑
2008
Annual accounts 200823,2 k €↓
2007
Annual accounts 200730,3 k €↑
2006
Annual accounts 200624,4 k €
2006
Name changeDR. VANTRAPPEN LUT
04/07/2002
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

HIVAN

Overview

What does HIVAN do?

Trend over 20 financial years

Indicative valuation

Board of directors

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