AV ENGINEERING
ActiveSummary
AV ENGINEERING has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €239,059 and a net result of -€12,127. Equity is growing by ~16.1% per year across the filed fiscal years. Its solvency ranks better than 58% of 398 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability65▼-8
Solvency87▲+4
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €17,000 at 30 days acceptable
Liquidity short (current ratio 0.54 against 1.26 in 2024; short-term debt: 37.6% and cash: 16.9% of total assets), and 37.6% of the assets are financed with debt.
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Signals
Two signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
28 d late
2024
29 d late
2023
25 d late
2022
41 d early
2021
24 d late
2020
31 d late
2019
19 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 16 days after the deadline; the sector median for financial year 2024 is 11 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€239,059▼ 4.8%
2024 · €251,186
Total assets
€383,234▼ 12.2%
2024 · €436,491
Net result
-€12,127
2024 · €15,158
Working capital
-€65,797
2024 · €14,326
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 28, Manufacture of machinery and equipment not elsewhere classified, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€646,487▲ 3,385%-€8,550-€29,333▼ 243%€22,218-€4,494
Net result€486,572above the sector's middle half▲ 3,471%-€4,441below the sector's middle half-€16,540below the sector's middle half▼ 272%€15,158within the sector's middle half-€12,127below the sector's middle half
Equity€257,009above the sector's middle half▲ 103%€252,568above the sector's middle half▼ 1.7%€236,028above the sector's middle half▼ 6.5%€251,186above the sector's middle half▲ 6.4%€239,059within the sector's middle half▼ 4.8%
Total assets€574,206above the sector's middle half▲ 36.0%€455,912within the sector's middle half▼ 20.6%€401,463within the sector's middle half▼ 11.9%€436,491within the sector's middle half▲ 8.7%€383,234within the sector's middle half▼ 12.2%
Debt€157,583▼ 46.7%€48,172▼ 69.4%€27,991▼ 41.9%€55,813▲ 99.4%€144,175▲ 158%
Working capital€268,329above the sector's middle half€351,437above the sector's middle half▲ 31.0%€74,964within the sector's middle half▼ 78.7%€14,326within the sector's middle half▼ 80.9%-€65,797below the sector's middle half
Solvency44.8%within the sector's middle half▲ 14.8pp55.4%within the sector's middle half▲ 10.6pp58.8%within the sector's middle half▲ 3.4pp57.5%within the sector's middle half▼ 1.2pp62.4%within the sector's middle half▲ 4.8pp
Current ratio2.70within the sector's middle half▲ 2.648.30above the sector's middle half▲ 5.593.68within the sector's middle half▼ 4.621.26within the sector's middle half▼ 2.420.54below the sector's middle half▼ 0.71
Return on assets (ROA)84.7%above the sector's middle half▲ 81.5pp-1.0%below the sector's middle half▼ 85.7pp-4.1%below the sector's middle half▼ 3.1pp3.5%within the sector's middle half▲ 7.6pp-3.2%below the sector's middle half▼ 6.6pp
above
within
below
the middle half (P25 to P75) of NACE 28, Manufacture of machinery and equipment not elsewhere classified, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €4,494 after €22,218 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €383,234
Fixed assets
€304,856 ▼ 16.8%
Current assets
€78,378 ▲ 11.7%
Equity and liabilities €383,234
Equity
€239,059 ▼ 4.8%
Provisions
€0 ▼ 100%
Debt
€144,175 ▲ 158%
Debt's share of the balance-sheet total rises from 12.8% to 37.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€37,174▼
2024 · €55,104
Cash flow
€29,541▼
2024 · €48,044
Debt to equity
0.60▲
2024 · 0.22
ROE
-5.1%▼
2024 · 6.0%
Interest coverage
122.37▼
2024 · 164.13
Debt ≤ 1 year
€144,175▲
2024 · €55,813
Income taxes
€137,085▲
2024 · €14,677
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.6%
went bankrupt
8.5%
stopped otherwise
90%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 12,321 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €660,351 | €13,313 | - | €16,171 | €3,110 | ▼ 80.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24,160 | €15,605 | €17,411 | €32,885 | €41,668 | ▲ 26.7% |
| Other operating charges640/8 | €6,651 | €1,122 | €2,245 | €2,378 | €2,518 | ▲ 5.9% |
| Gross operating margin9900 | €677,299 | €8,178 | -€9,678 | €57,482 | €39,692 | ▼ 30.9% |
| Operating profit (loss)9901 | €646,487 | -€8,550 | -€29,333 | €22,218 | -€4,494 | ▼ 120% |
| Financial income75/76B | €0 | - | €0 | - | €263 | - |
| Recurring financial income75 | €0 | - | €0 | - | €263 | - |
| Financial charges65/66B | €302 | €333 | €364 | €336 | €304 | ▼ 9.5% |
| Recurring financial charges65 | €302 | €333 | €364 | €336 | €304 | ▼ 9.5% |
| Profit (loss) for the period before taxes9903 | €646,186 | -€8,883 | -€29,697 | €21,882 | -€4,534 | ▼ 121% |
| Transfer from deferred taxes780 | €4,442 | €4,442 | €17,727 | €7,953 | €129,492 | ▲ 1,528% |
| Transfer to deferred taxes680 | €164,055 | - | - | - | - | - |
| Income taxes67/77 | - | - | €4,570 | €14,677 | €137,085 | ▲ 834% |
| Profit (loss) for the period9904 | €486,572 | -€4,441 | -€16,540 | €15,158 | -€12,127 | ▼ 180% |
| Transfer from tax-exempt reserves789 | €13,325 | €13,325 | €53,180 | €23,860 | €388,475 | ▲ 1,528% |
| Transfer to tax-exempt reserves689 | €492,164 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €7,733 | €8,884 | €36,640 | €39,018 | €376,347 | ▲ 865% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €574,206 | €455,912 | €401,463 | €436,491 | €383,234 | ▼ 12.2% |
| Formation expenses20 | - | - | - | - | €0 | - |
| Fixed assets21/28 | €148,294 | €56,303 | €298,509 | €366,352 | €304,856 | ▼ 16.8% |
| Tangible fixed assets22/27 | €148,048 | €56,057 | €298,263 | €366,106 | €304,610 | ▼ 16.8% |
| Land and buildings22 | €15,040 | €15,040 | €244,473 | €243,896 | €236,968 | ▼ 2.8% |
| Plant, machinery and equipment23 | €3,206 | €2,423 | €26,538 | €26,294 | €3,988 | ▼ 84.8% |
| Furniture and vehicles24 | €129,802 | €38,595 | €27,251 | €95,917 | €63,654 | ▼ 33.6% |
| Financial fixed assets28 | €246 | €246 | €246 | €246 | €246 | = |
| Current assets29/58 | €425,912 | €399,609 | €102,955 | €70,138 | €78,378 | ▲ 11.7% |
| Stocks and contracts in progress3 | - | - | - | - | €0 | - |
| Stocks30/36 | - | - | - | - | €0 | - |
| Amounts receivable within one year40/41 | €13,539 | €19,229 | €15,052 | €11,911 | €13,101 | ▲ 10.0% |
| Trade receivables40 | €12,782 | €19,110 | €14,894 | €11,859 | €10,757 | ▼ 9.3% |
| Other amounts receivable41 | €757 | €119 | €158 | €52 | €2,343 | ▲ 4,408% |
| Cash at bank and in hand54/58 | €412,373 | €380,380 | €87,902 | €58,228 | €64,909 | ▲ 11.5% |
| Deferred charges and accrued income490/1 | - | - | - | - | €369 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €574,206 | €455,912 | €401,463 | €436,491 | €383,234 | ▼ 12.2% |
| Equity10/15 | €257,009 | €252,568 | €236,028 | €251,186 | €239,059 | ▼ 4.8% |
| Contributions10/11 | €18,550 | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €486,772 | €473,447 | €420,267 | €396,407 | €220,509 | ▼ 44.4% |
| Non-distributable reserves130/1 | €7,933 | €7,933 | €7,933 | €7,933 | €7,933 | = |
| Reserves not available under the articles1311 | €7,933 | €7,933 | €7,933 | €7,933 | €7,933 | = |
| Tax-exempt reserves132 | €478,840 | €465,515 | €412,334 | €388,475 | - | - |
| Distributable reserves133 | - | - | - | - | €212,576 | - |
| Profit (loss) carried forward14 | -€248,313 | -€239,429 | -€202,789 | -€163,771 | - | - |
| Provisions and deferred taxes16 | €159,613 | €155,172 | €137,445 | €129,492 | - | - |
| Deferred taxes168 | €159,613 | €155,172 | €137,445 | €129,492 | - | - |
| Amounts payable17/49 | €157,583 | €48,172 | €27,991 | €55,813 | €144,175 | ▲ 158% |
| Amounts payable within one year42/48 | €157,583 | €48,172 | €27,991 | €55,813 | €144,175 | ▲ 158% |
| Trade debts44 | €340 | €90 | €208 | €25,218 | €515 | ▼ 98.0% |
| Suppliers440/4 | €340 | €90 | €208 | €25,218 | €515 | ▼ 98.0% |
| Taxes, remuneration and social security45 | - | €6 | €4,973 | €15,185 | €137,348 | ▲ 805% |
| Taxes450/3 | - | €6 | €4,973 | €15,185 | €137,348 | ▲ 805% |
| Other amounts payable47/48 | €157,243 | €48,076 | €22,810 | €15,410 | €6,311 | ▼ 59.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €486,572 | -€4,441 | -€16,540 | €15,158 | -€12,127 | ▼ 180% |
| + Depreciation and write-downs630 | €24,160 | €15,605 | €17,411 | €32,885 | €41,668 | ▲ 26.7% |
| Operating cash flow (approximation) | €510,733 | €11,164 | €870 | €48,044 | €29,541 | ▼ 38.5% |
| Investment in fixed assets (approximation) | - | €76,385 | -€259,616 | -€100,729 | €19,828 | ▲ 120% |
| Change in cash | - | -€31,993 | -€292,477 | -€29,675 | €6,681 | ▲ 123% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Back to profitnet €15,158
Net result €15,158 after 2 loss-making years.
25-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 25 days late
2023
31-12
Financial
Weakest financial yearnet -€16,540
Net result drops to -€16,540, the lowest in the series; recovery starts the following year.
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity triplescurrent ratio 8.30
Current ratio from 2.70 to 8.30; short-term debt falls from €157,583 to €48,172.
24-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 24 days late
2021
31-12
Financial
Highest result since 2018net €486,572 ▲3,471%
Operating result €646,487, net result €486,572, both a record.
31-12
Financial
Liquidity times 46current ratio 2.70
Current ratio from 0.06 to 2.70; short-term debt falls from €295,440 to €157,583.
31-12
Financial
Equity above €200,000Eq €257,009 ▲103%
4 profitable years in a row build equity to €257,009.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
Show earlier events
2020
19-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 19 days late
2019
31-12
Financial
Equity above €100,000Eq €113,026 ▲24.7%
2 profitable years in a row build equity to €113,026.
13-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 13 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Lanaken · 1 establishment unit since 1988
Ground area
4,472 m²
Building footprint
1,732 m²
Volume, LiDAR
8,707 m³
2 parcels, Flanders · tallest building 6.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
VERMACOLD ENGINEERING NV
since 19882.041.371.928
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73042B0396/00E000 | Flanders | 3,736 m² | 1 · 1,512 m² | 6.6 m · 2 fl. |
| 73042D0283/00C000 | Flanders | 736 m² | 1 · 220 m² | 5.4 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 461 companies in sector 28250 we hold annual accounts for 286. 221 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded03-12-1988
Fiscal year end31-12
Activities, NACEBEL 2025
28250Manufacture of machinery and equipment not elsewhere classified
E-invoicing
Reachable via Peppol
Peppol ID
0208:0436027668
Also
9925:BE0436027668
Registered
11-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.