A. VYNCKE
ActiveSummary
A. VYNCKE has been active since 1969 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €296,675 and a net result of €26,645. Equity is shrinking by ~8.1% per year across the filed fiscal years. Its solvency ranks better than 95% of 8593 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Financials · fiscal year 2025, abbreviated schema
In the rankings
#3 oldest company in Kortrijk, Construction sector
Equity
€296,675▲ 9.9%
2024 · €270,030
Total assets
€329,162▼ 28.0%
2024 · €457,035
Net result
€26,645▲ 54.9%
2024 · €17,202
Working capital
€282,510▲ 12.8%
2024 · €250,449
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20222023202320242025
Operating result€55,733▲ 33.2%€41,863▼ 24.9%€6,005-€26,761▲ 346%€38,015▲ 42.1%
Net result€39,473within the sector's middle half▲ 11.4%€28,658within the sector's middle half▼ 27.4%€3,476below the sector's middle half-€17,202within the sector's middle half▲ 395%€26,645within the sector's middle half▲ 54.9%
Equity€570,693within the sector's middle half▲ 7.4%€399,352within the sector's middle half▼ 30.0%€402,828within the sector's middle half-€270,030within the sector's middle half▼ 33.0%€296,675within the sector's middle half▲ 9.9%
Total assets€658,784within the sector's middle half▼ 25.0%€645,514within the sector's middle half▼ 2.0%€444,844below the sector's middle half-€457,035within the sector's middle half▲ 2.7%€329,162within the sector's middle half▼ 28.0%
Debt€88,091▼ 74.6%€246,162▲ 179%€42,016-€183,629▲ 337%€22,862▼ 87.6%
Working capital€529,052above the sector's middle half▲ 7.8%€368,613within the sector's middle half▼ 30.3%€378,903within the sector's middle half-€250,449within the sector's middle half▼ 33.9%€282,510within the sector's middle half▲ 12.8%
Solvency86.6%above the sector's middle half▲ 26.1pp61.9%within the sector's middle half▼ 24.8pp90.6%above the sector's middle half-59.1%within the sector's middle half▼ 31.5pp90.1%above the sector's middle half▲ 31.0pp
Current ratio7.66above the sector's middle half▲ 5.092.50within the sector's middle half▼ 5.1710.57above the sector's middle half-2.38within the sector's middle half▼ 8.1913.36above the sector's middle half▲ 10.98
Return on assets (ROA)6.0%within the sector's middle half▲ 2.0pp4.4%within the sector's middle half▼ 1.6pp0.8%below the sector's middle half-3.8%within the sector's middle half▲ 3.0pp8.1%within the sector's middle half▲ 4.3pp
Staff (FTE)3within the sector's middle half▼ 23.1%3within the sector's middle half=3within the sector's middle half-3within the sector's middle half=3.3within the sector's middle half▲ 10.0%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
Multiple fiscal year ends fall in the same calendar year; an annual trend is not displayed.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €329,162
Fixed assets
€23,790 ▼ 4.9%
Current assets
€305,371 ▼ 29.3%
Equity and liabilities €329,162
Equity
€296,675 ▲ 9.9%
Provisions
€9,625 ▲ 185%
Debt
€22,862 ▼ 87.6%
Debt's share of the balance-sheet total falls from 40.2% to 6.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€39,236▲
2024 · €29,903
Cash flow
€27,866▲
2024 · €20,345
Quick ratio
7.32▲
2024 · 1.54
Debt to equity
0.08▼
2024 · 0.68
ROE
9.0%▲
2024 · 6.4%
Interest coverage
29.74▲
2024 · 12.10
Debt ≤ 1 year
€22,862▼
2024 · €181,574
Income taxes
€3,800▲
2024 · €3,711
Staff costs
€272,298▲
2024 · €246,591
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,371 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,366 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,371 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2022 | 2023 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €3,800 | €1,000 | €0 | - | - | - |
| Remuneration, social security and pensions62 | €211,711 | €232,529 | €112,269 | €246,591 | €272,298 | ▲ 10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24,475 | €19,971 | €4,224 | €3,142 | €1,221 | ▼ 61.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €0 | - | -€22,430 | €0 | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €0 | - | - | - | - | - |
| Other operating charges640/8 | €11,430 | €14,738 | €27,944 | €2,567 | €1,058 | ▼ 58.8% |
| Gross operating margin9900 | €303,349 | €309,102 | €128,012 | €279,061 | €312,592 | ▲ 12.0% |
| Operating profit (loss)9901 | €55,733 | €41,863 | €6,005 | €26,761 | €38,015 | ▲ 42.1% |
| Financial income75/76B | €40 | €0 | €6 | €0 | - | - |
| Recurring financial income75 | €40 | €0 | €6 | €0 | - | - |
| Financial charges65/66B | €1,271 | €1,245 | €785 | €2,472 | €1,320 | ▼ 46.6% |
| Recurring financial charges65 | €1,271 | €1,245 | €785 | €2,472 | €1,320 | ▼ 46.6% |
| Profit (loss) for the period before taxes9903 | €54,502 | €40,618 | €5,226 | €24,289 | €36,695 | ▲ 51.1% |
| Transfer to deferred taxes680 | - | - | - | €3,375 | €6,250 | ▲ 85.2% |
| Income taxes67/77 | €15,028 | €11,959 | €1,750 | €3,711 | €3,800 | ▲ 2.4% |
| Profit (loss) for the period9904 | €39,473 | €28,658 | €3,476 | €17,202 | €26,645 | ▲ 54.9% |
| Transfer to tax-exempt reserves689 | - | - | - | €10,125 | €18,750 | ▲ 85.2% |
| Profit (loss) for the period to be appropriated9905 | €39,473 | €28,658 | €3,476 | €7,077 | €7,895 | ▲ 11.6% |
| Line | 2022 | 2023 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €658,784 | €645,514 | €444,844 | €457,035 | €329,162 | ▼ 28.0% |
| Fixed assets21/28 | €50,335 | €30,777 | €26,353 | €25,012 | €23,790 | ▼ 4.9% |
| Tangible fixed assets22/27 | €49,611 | €30,053 | €25,829 | €24,488 | €23,266 | ▼ 5.0% |
| Plant, machinery and equipment23 | €10,901 | €3,231 | €2,003 | €1,524 | €1,166 | ▼ 23.5% |
| Furniture and vehicles24 | €397 | €0 | - | - | - | - |
| Leasing and similar rights25 | €13,194 | €2,565 | €0 | - | - | - |
| Other tangible fixed assets26 | €25,120 | €24,257 | €23,826 | €22,963 | €22,101 | ▼ 3.8% |
| Financial fixed assets28 | €724 | €724 | €524 | €524 | €524 | = |
| Current assets29/58 | €608,450 | €614,736 | €418,492 | €432,023 | €305,371 | ▼ 29.3% |
| Stocks and contracts in progress3 | €163,285 | €163,285 | €163,285 | €152,035 | €138,035 | ▼ 9.2% |
| Stocks30/36 | €163,285 | €163,285 | €163,285 | €152,035 | €138,035 | ▼ 9.2% |
| Amounts receivable within one year40/41 | €79,591 | €49,012 | €50,781 | €61,207 | €48,855 | ▼ 20.2% |
| Trade receivables40 | €68,254 | €39,289 | €37,396 | €48,734 | €27,599 | ▼ 43.4% |
| Other amounts receivable41 | €11,337 | €9,723 | €13,385 | €12,473 | €21,257 | ▲ 70.4% |
| Current investments50/53 | €0 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €362,740 | €399,457 | €201,021 | €218,097 | €118,240 | ▼ 45.8% |
| Deferred charges and accrued income490/1 | €2,833 | €2,983 | €3,404 | €684 | €241 | ▼ 64.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €658,784 | €645,514 | €444,844 | €457,035 | €329,162 | ▼ 28.0% |
| Equity10/15 | €570,693 | €399,352 | €402,828 | €270,030 | €296,675 | ▲ 9.9% |
| Contributions10/11 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Capital10 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Issued capital100 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Reserves13 | €393,553 | €324,352 | €327,828 | €195,030 | €221,675 | ▲ 13.7% |
| Non-distributable reserves130/1 | €7,500 | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Legal reserve130 | €7,500 | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Tax-exempt reserves132 | €26,989 | €26,989 | €26,989 | €37,114 | €55,864 | ▲ 50.5% |
| Distributable reserves133 | €359,063 | €289,863 | €293,339 | €150,416 | €158,311 | ▲ 5.2% |
| Profit (loss) carried forward14 | €102,141 | €0 | €0 | €0 | €0 | - |
| Provisions and deferred taxes16 | - | - | - | €3,375 | €9,625 | ▲ 185% |
| Deferred taxes168 | - | - | - | €3,375 | €9,625 | ▲ 185% |
| Amounts payable17/49 | €88,091 | €246,162 | €42,016 | €183,629 | €22,862 | ▼ 87.6% |
| Amounts payable after more than one year17 | €7,606 | €0 | - | - | - | - |
| Financial debts170/4 | €7,606 | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €79,398 | €246,123 | €39,589 | €181,574 | €22,862 | ▼ 87.4% |
| Current portion of amounts payable after more than one year42 | €13,909 | €7,606 | €2,958 | €0 | - | - |
| Financial debts43 | €0 | - | - | - | - | - |
| Credit institutions430/8 | €0 | - | - | - | - | - |
| Trade debts44 | €42,722 | €19,412 | €25,353 | €27,838 | €17,911 | ▼ 35.7% |
| Suppliers440/4 | €42,722 | €19,412 | €25,353 | €27,838 | €17,911 | ▼ 35.7% |
| Advances received on contracts in progress46 | €4,875 | €0 | - | - | - | - |
| Taxes, remuneration and social security45 | €17,892 | €19,105 | €11,278 | €3,736 | €4,950 | ▲ 32.5% |
| Taxes450/3 | €10,028 | €2,896 | €3,893 | €3,736 | €4,950 | ▲ 32.5% |
| Remuneration and social security454/9 | €7,864 | €16,209 | €7,384 | €0 | - | - |
| Other amounts payable47/48 | - | €200,000 | €0 | €150,000 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | €1,088 | €39 | €2,428 | €2,056 | €0 | ▼ 100% |
| Line | 2022 | 2023 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €39,473 | €28,658 | €3,476 | €17,202 | €26,645 | ▲ 54.9% |
| + Depreciation and write-downs630 | €24,475 | €19,971 | €4,224 | €3,142 | €1,221 | ▼ 61.1% |
| Operating cash flow (approximation) | €63,948 | €48,629 | €7,701 | €20,345 | €27,866 | ▲ 37.0% |
| Investment in fixed assets (approximation) | - | -€413 | - | -€1,801 | €0 | ▲ 100% |
| Change in cash | - | €36,717 | - | €17,076 | -€99,857 | ▼ 685% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
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Of 8,467 companies in this sector we hold annual accounts for 3,258. 2,455 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2022 to 2025 · 4 entries · €1,296 awarded · €1,138 paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | €874 | €716 |
| 2024 | 1 | €241 | €241 |
| 2023 | 1 | €73 | €73 |
| 2022 | 1 | €108 | €108 |