BECK -VANTHILLO
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 20-06-2026 at the NBB all 4 filings
Turnover
≈ €2.2m
Estimated: probably between €1.6m and €2.8m
Total assets
€4.9m▲ 13.6%
2024 · €4.3m
Net result
€318,252▼ 6.1%
2024 · €338,759
Working capital
€761,039▼ 15.0%
2024 · €895,432
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
€479,002
▼ 13.4%
2025
20222025
Net result
€318,252
▼ 6.1%
2025
highest quarter of the sector
20222025
Equity
€1.6m
▼ 4.1%
2025
highest quarter of the sector
20222025
Total assets
€4.9m
▲ 13.6%
2025
highest quarter of the sector
20222025
Debt
€3.3m
▲ 24.6%
2025
20222025
Working capital
€761,039
▼ 15.0%
2025
highest quarter of the sector
20222025
Solvency
32.4%
▼ 6.0pp
2025
middle half of the sector
20222025
Current ratio
1.52
▼ 0.45
2025
middle half of the sector
20222025
Return on assets (ROA)
6.5%
▼ 1.4pp
2025
middle half of the sector
20222025
Staff (FTE)
1
=
2025
middle half of the sector
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result€0.2m-€0.5m▲ 152%€0.6m▲ 15.4%€0.5m▼ 13.4%
Net result€0.2mabove the sector's middle half-€0.3mabove the sector's middle half▲ 85.6%€0.3mabove the sector's middle half▲ 17.9%€0.3mabove the sector's middle half▼ 6.1%
Equity€1.4mabove the sector's middle half-€1.4mabove the sector's middle half▲ 0.7%€1.7mabove the sector's middle half▲ 17.0%€1.6mabove the sector's middle half▼ 4.1%
Total assets€4.7mabove the sector's middle half-€4.7mabove the sector's middle half▼ 2.0%€4.3mabove the sector's middle half▼ 7.0%€4.9mabove the sector's middle half▲ 13.6%
Debt€3.3m-€3.2m▼ 3.1%€2.7m▼ 17.5%€3.3m▲ 24.6%
Working capital€0.9mabove the sector's middle half-€0.8mabove the sector's middle half▼ 11.9%€0.9mabove the sector's middle half▲ 16.4%€0.8mabove the sector's middle half▼ 15.0%
Solvency29.7%within the sector's middle half-30.5%within the sector's middle half▲ 0.8pp38.3%within the sector's middle half▲ 7.9pp32.4%within the sector's middle half▼ 6.0pp
Current ratio1.89within the sector's middle half-1.65within the sector's middle half▼ 0.241.97within the sector's middle half▲ 0.321.52within the sector's middle half▼ 0.45
Return on assets (ROA)3.3%within the sector's middle half-6.2%within the sector's middle half▲ 2.9pp7.8%within the sector's middle half▲ 1.7pp6.5%within the sector's middle half▼ 1.4pp
Staff (FTE)0.8below the sector's middle half-1within the sector's middle half▲ 25.0%1within the sector's middle half=1within the sector's middle half=
above
within
below
The sector band is the middle half of the companies in Crop and animal production, hunting and related service activities (NACE 01). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 13% lower than in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.9m
Fixed assets
€2.7m ▲ 7.0%
Current assets
€2.2m ▲ 22.7%
Equity and liabilities €4.9m
Equity
€1.6m ▼ 4.1%
Debt
€3.3m ▲ 24.6%
Debt's share of the balance-sheet total rises from 61.7% to 67.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€810,822▼
2024 · €850,434
Cash flow
€650,072▲
2024 · €635,845
Quick ratio
0.85▲
2024 · 0.70
Debt to equity
2.09▲
2024 · 1.61
ROE
20.0%▼
2024 · 20.4%
Interest coverage
9.65▲
2024 · 7.95
Debt ≤ 1 year
€1.5m▲
2024 · €926,491
Debt > 1 year
€1.8m▲
2024 · €1.7m
Income taxes
€104,232▼
2024 · €143,944
Staff costs
€62,949▲
2024 · €59,244
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | - | 1 | 1 | 1 |
| full-time | - | 1 | 1 | 1 |
| part-time | - | - | - | 0 |
| in full-time equivalents | - | 1 | 1 | 1 |
| Average over the year, in full-time equivalents | 0.8 | 1 | 1 | 1 |
| On a permanent contract | - | 1 | 1 | 1 |
| Joined | 0 | 1 | - | - |
| Left | 1 | 0 | - | - |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €78,238 | €186,093 | €107,533 | €506,020 |
| Depreciation and write-downs of the year | €363,139 | €379,197 | €297,085 | €331,820 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 to 2025 · 2 entries · €31,507 awarded · €31,507 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €24,882 | €24,882 |
| 2024 | 1 | €6,625 | €6,625 |
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €30,346 | €50,713 | €59,244 | €62,949 | ▲ 6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €363,139 | €379,197 | €297,085 | €331,820 | ▲ 11.7% |
| Other operating charges640/8 | €11,220 | €10,336 | €11,336 | €12,846 | ▲ 13.3% |
| Gross operating margin9900 | €595,168 | €919,687 | €921,014 | €886,617 | ▼ 3.7% |
| Operating profit (loss)9901 | €190,463 | €479,441 | €553,349 | €479,002 | ▼ 13.4% |
| Financial income75/76B | €36,711 | €16,677 | €36,342 | €27,548 | ▼ 24.2% |
| Recurring financial income75 | €36,711 | €16,677 | €36,342 | €27,548 | ▼ 24.2% |
| Financial charges65/66B | €55,728 | €101,211 | €106,988 | €84,066 | ▼ 21.4% |
| Recurring financial charges65 | €55,728 | €101,211 | €106,988 | €84,066 | ▼ 21.4% |
| Profit (loss) for the period before taxes9903 | €171,445 | €394,906 | €482,703 | €422,484 | ▼ 12.5% |
| Income taxes67/77 | €16,650 | €107,546 | €143,944 | €104,232 | ▼ 27.6% |
| Profit (loss) for the period9904 | €154,796 | €287,361 | €338,759 | €318,252 | ▼ 6.1% |
| Profit (loss) for the period to be appropriated9905 | €154,796 | €287,361 | €338,759 | €318,252 | ▼ 6.1% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €4.7m | €4.7m | €4.3m | €4.9m | ▲ 13.6% |
| Fixed assets21/28 | €2.9m | €2.7m | €2.5m | €2.7m | ▲ 7.0% |
| Tangible fixed assets22/27 | €2.9m | €2.7m | €2.5m | €2.7m | ▲ 7.0% |
| Land and buildings22 | €2.4m | €2.3m | €2.0m | €2.1m | ▲ 2.7% |
| Plant, machinery and equipment23 | €0.5m | €0.4m | €0.4m | €0.6m | ▲ 24.7% |
| Furniture and vehicles24 | - | - | €0.005m | €0.01m | ▲ 166% |
| Financial fixed assets28 | €0.008m | €0.008m | €0.008m | €0.008m | = |
| Current assets29/58 | €1.9m | €2.0m | €1.8m | €2.2m | ▲ 22.7% |
| Stocks and contracts in progress3 | €1.0m | €1.3m | €1.2m | €1.0m | ▼ 16.8% |
| Stocks30/36 | €1.0m | €1.3m | €1.2m | €1.0m | ▼ 16.8% |
| Amounts receivable within one year40/41 | €0.9m | €0.6m | €0.5m | €0.2m | ▼ 50.8% |
| Trade receivables40 | €0.2m | €0.2m | €0.1m | €0.07m | ▼ 42.7% |
| Other amounts receivable41 | €0.7m | €0.4m | €0.3m | €0.2m | ▼ 53.5% |
| Cash at bank and in hand54/58 | €0.005m | €0.08m | €0.2m | €1.0m | ▲ 532% |
| Deferred charges and accrued income490/1 | €0.02m | €0.02m | €0.02m | €0.03m | ▲ 13.6% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €4.7m | €4.7m | €4.3m | €4.9m | ▲ 13.6% |
| Equity10/15 | €1.4m | €1.4m | €1.7m | €1.6m | ▼ 4.1% |
| Contributions10/11 | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Contributions outside capital11 | €0.2m | €0.2m | €0.2m | - | - |
| Other1109/19 | €0.2m | €0.2m | €0.2m | - | - |
| Reserves13 | €1.0m | €1.0m | €1.3m | €1.2m | ▼ 7.2% |
| Distributable reserves133 | €1.0m | €1.0m | €1.3m | €1.2m | ▼ 7.2% |
| Profit (loss) carried forward14 | - | - | - | €0 | - |
| Investment grants15 | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 17.1% |
| Amounts payable17/49 | €3.3m | €3.2m | €2.7m | €3.3m | ▲ 24.6% |
| Amounts payable after more than one year17 | €2.4m | €2.0m | €1.7m | €1.8m | ▲ 6.2% |
| Financial debts170/4 | €2.4m | €2.0m | €1.7m | €1.8m | ▲ 6.2% |
| Amounts payable within one year42/48 | €1.0m | €1.2m | €0.9m | €1.5m | ▲ 59.2% |
| Current portion of amounts payable after more than one year42 | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 8.5% |
| Financial debts43 | €0.4m | €0.2m | - | - | - |
| Credit institutions430/8 | €0.4m | €0.2m | - | - | - |
| Trade debts44 | €0.2m | €0.3m | €0.3m | €0.5m | ▲ 34.4% |
| Suppliers440/4 | €0.2m | €0.3m | €0.3m | €0.5m | ▲ 34.4% |
| Taxes, remuneration and social security45 | €0.02m | €0.1m | €0.03m | €0.06m | ▲ 126% |
| Taxes450/3 | €0.02m | €0.1m | €0.02m | €0.05m | ▲ 183% |
| Remuneration and social security454/9 | €0.002m | €0.006m | €0.008m | €0.007m | ▼ 13.8% |
| Other amounts payable47/48 | €0.1m | €0.3m | €0.3m | €0.6m | ▲ 145% |
| Accrued charges and deferred income492/3 | €0.001m | - | - | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €154,796 | €287,361 | €338,759 | €318,252 | ▼ 6.1% |
| + Depreciation and write-downs630 | €363,139 | €379,197 | €297,085 | €331,820 | ▲ 11.7% |
| Operating cash flow (approximation) | €517,934 | €666,558 | €635,845 | €650,072 | ▲ 2.2% |
| Investment in fixed assets (approximation) | - | -€186,093 | -€106,206 | -€506,020 | ▼ 376% |
| Change in cash | - | €73,436 | €79,954 | €844,461 | ▲ 956% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 34,693 companies had the same profile as BECK -VANTHILLO has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of BECK -VANTHILLO itself: < 0.1% 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 34,693 companies, not a prediction for BECK -VANTHILLO. 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.