Equity
€11.7m from €20.9m in 2022
Equity fell by 44% in 3 years.
AVASCO INDUSTRIES
Lifetime
20 annual accounts with figures on one time axis, 38 filings since 1988Turnoverpeak €54.9m (2022)
€34.3m▼ 6.4%
Resultlowest -€4.1m (2025)
-€4.1m▼ €5,265
Equitypeak €20.9m (2022)
€11.7m▼ 25.8%
Debts
€38.4m▲ 92.5%
Staffpeak 47.7 FTE (2018)
40.5 FTE▼ 2.6%
Board6 names since 2017
5 directorsJAVAHO and 4 others
Owners3 names in the annual accounts
99.99%VERGALLE INVEST and 1 other
Documentsfilings and deeds
15-07-202616 days before the deadline
2025financial year
Loss of €4.1mEquity from €15.8m to €11.7mDebts from €19.9m to €38.4mInvestments €14.0mCash from €520,536 to €939,098
Key points
from the 2025 annual accountsLosses
-€9.2m in three years
Every financial year from 2023 to 2025 closed with a loss. 2025 was the heaviest.
Debts
€38.4m ▲ 92.5%
Debts rose by €18.4m in 2025.
Investments
€14.0m 10.8 × depreciation
Green is investment, beige is depreciation. Machinery stands 21.8% higher than in 2024.
Filings
38 annual accounts 39 filings since 1988
The last five annual accounts were filed 14 to 21 days before the end of the period.
Position in the sector
-€4.1m
Lower net result than 95% of companies in furniture. Sector median €26,587 · 152 companies.
Checked score
63
Healthy
Financially stronger than 17% of small companies in furniture (NACE 31)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
1.3% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.3% across 137 companies (NACE 31, small).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%
01-2025: 0.3%● unchanged vs 12-2024
02-2025: 0.3%● unchanged vs 01-2025lowest value
03-2025: 0.3%● unchanged vs 02-2025
04-2025: 0.3%● unchanged vs 03-2025
05-2025: 0.3%● unchanged vs 04-2025
06-2025: 0.3%● unchanged vs 05-2025
07-2025: 0.4%▲ +0.1 percentage points vs 06-2025
08-2025: 0.7%▲ +0.3 percentage points vs 07-2025
09-2025: 0.7%● unchanged vs 08-2025
10-2025: 0.7%● unchanged vs 09-2025
11-2025: 0.7%● unchanged vs 10-2025
12-2025: 0.7%● unchanged vs 11-2025
01-2026: 0.7%● unchanged vs 12-2025
02-2026: 0.7%● unchanged vs 01-2026
03-2026: 0.7%● unchanged vs 02-2026
04-2026: 0.7%● unchanged vs 03-2026
05-2026: 0.7%● unchanged vs 04-2026
06-2026: 0.8%▲ +0.1 percentage points vs 05-2026
07-2026: 0.7%▼ -0.1 percentage points vs 06-2026
08-2026: 1.3%▲ +0.6 percentage points vs 07-2026highest value
09-2026: 1.3%● unchanged vs 08-2026highest value
10-2026: 1.3%● unchanged vs 09-2026highest value
11-2026: 1.3%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
Loss of €4.1m, the second in a row (financial year 2025)
Equity €11.7m (23.4% of total assets)
Liquidity: current ratio 1.03, cash €939,098
Sector: Manufacture of furniture (NACE 31)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 31, small). It does better than 25% of them on solvency, 16% on liquidity, 8% on profitability and 20% on growth.
The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 2,507 companies had the same profile as AVASCO INDUSTRIES has now. Each dot stands for 7 companies, two years later.
96.4%
were still trading
1.8%
stopped another way
1.6%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of AVASCO INDUSTRIES itself: 1.3% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,507 companies, not a prediction for AVASCO INDUSTRIES. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €700,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.03 (1.48 in 2024), below the usual 1.5. Short-term debt is 58.2% and cash 1.9% of total assets. 76.6% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
raises riskneutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€4.1m
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-07-2026, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
16 days early
2024
14 days early
2023
21 days early
2022
17 days early
2021
16 days early
2020
16 days early
2019
22 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 17 days before the deadline. In the sector (NACE 31), the median for financial year 2024 was 7 days before the deadline, and 37% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 15 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
05-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
LC
LV-Consulting
Director, Lieven Vergalle, since 26-06-2018
- VERGALLE INVEST 99.99%equity €135.7m (2025) · annual accounts 2025
- Frank Vergalle 0.01%annual accounts 2025
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0433026509
Environmental permit granted
Bouwen of herbouwen · Provincie West-Vlaanderen
2 directors reappointed
VERGALLE INVEST NV (managing director) and Javaho BV (managing director) · Permanent representatives: Frank Vergalle, Jan Van Houtte, Francis Vergalle, Lieven Vergalle and Kaatje Vergalle · General meeting of 30-06-2023 · Gazette deed
1 statutory auditor appointed, 2 directors reappointed
Permanent representatives: Francis Vergalle, Kaatje Vergalle, Frank Vergalle, Jan van Houtte, Lieven Vergalle and Wim Rutsaert · Reappointments: CISKON BV and VEKA CONSULT BV · Appointment: Moore Audit BV (statutory auditor) · General meeting of 30-06-2022 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | Turnover | EBIT margin | Solvency | Staff |
|---|---|---|---|---|
| AVASCO INDUSTRIES Diksmuide | €34.3m | -9.1% | 23.4% | 40.5 |
| MOBITEC SYSTEMS Eupen | €42.3m | 6.7% | 91.2% | 47.9 |
| GONDELLA Nazareth-De Pinte | €18.8m | -3.6% | 83.5% | 42.4 |
| PAMI Pelt | €36.4m | 0.7% | 33.0% | 97.4 |
| HAELVOET Ingelmunster | €25.1m | 0.0% | 47.1% | 61.2 |
| ERVO Projects Turnhout | €23.2m | 0.7% | 45.7% | 98.6 |
| VANERUM BELGIE Diest | €17.0m | -7.1% | -0.2% | 77.3 |
Grey: the largest companies of the sector (furniture (NACE 31)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as AVASCO INDUSTRIES: manufacture of furniture (NACE 31001). They are comparable in size and age: total assets between €17m and €49m, founded between 1968 and 1999.
Official details
Source: KBO- Status
- Active since 05-01-1988Normal situation
- Activity
- Manufacture of furnitureNACE 31001and 2 others
- Establishment unit
- 2.033.266.2908600 Diksmuide, since 25-01-1988
- Financial year end
- 31 December
- Peppol
- Reachable since 15-12-2025
Annual accounts 2025
- Total assets
- €50.1m▲ 40.1%
- Employeeson 31-12-2025
- 43=
- Filing
- Filed on 15-07-2026, 16 days before the end of the filing period
Companies linked to AVASCO INDUSTRIES
Parent and group
Insights on AVASCO INDUSTRIES
AVASCO INDUSTRIES has existed since 1988. Turnover grew from €10.6m in 2006 to €34.3m in 2025.
Turnover has fallen every year since 2022. Solvency fell in 2025 from 44.3% to 23.4% because of the loss and higher long-term debts.
VERGALLE INVEST holds all the shares. In July 2024, the Official Gazette published the appointment of JAVAHO as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about AVASCO INDUSTRIES
- What is the company number of AVASCO INDUSTRIES?
- The company number of AVASCO INDUSTRIES is 0433.026.509. The VAT number is the same number with BE in front: BE 0433.026.509.
- Where is AVASCO INDUSTRIES based?
- The registered office is at Cardijnlaan 6, 8600 Diksmuide.Company details
- What does AVASCO INDUSTRIES do?
- According to the KBO register, the main activity is manufacture of furniture (NACE 31001).
- What is the legal form of AVASCO INDUSTRIES?
- AVASCO INDUSTRIES is a public limited company (NV).
- When was AVASCO INDUSTRIES founded?
- AVASCO INDUSTRIES was founded on 05-01-1988.
- Is AVASCO INDUSTRIES still active?
- Yes, AVASCO INDUSTRIES is an active enterprise in the KBO register.
- How many employees does AVASCO INDUSTRIES have?
- AVASCO INDUSTRIES had an average of 40.5 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of AVASCO INDUSTRIES?
- The turnover of AVASCO INDUSTRIES was €34.3m in financial year 2025, according to the filed annual accounts.
- Is AVASCO INDUSTRIES profitable?
- In financial year 2025, AVASCO INDUSTRIES made a loss of €4.1m.
- Where can I find the annual accounts of AVASCO INDUSTRIES?
- AVASCO INDUSTRIES filed 39 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of AVASCO INDUSTRIES due?
- AVASCO INDUSTRIES must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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