Equity
€574,816 ▲ 2.5%
ETABLISSEMENTS VRANCKEN paid out €100,000 in dividends. That is 88% of the 2025 profit.
ETABLISSEMENTS VRANCKEN
Lifetime
20 annual accounts with figures on one time axis, 21 filings since 2005peak €2.6m (2025)
€2.6m▲ 17.3%
lowest -€16,644 (2018)
€113,927▲ €120,779
peak €574,816 (2025)
€574,816▲ 2.5%
€1.7m▲ 3.6%
peak 48.8 FTE (2015)
43.1 FTE▲ 2.6%
Board5 names since 2004
4 directorsMichel Vrancken and 3 others
Owners
99.5%MAMIPA
Documentsfilings and deeds
02-07-202629 days before the deadline
2025financial year
Gross margin from €2.2m to €2.6mBack to profit: €113,927Dividend €100,000Investments €156,990
Key points
from the 2025 annual accountsResult
€113,927 €113,927
Back in profit in 2025, after a loss of €6,852 in 2024.
Debts
€1.7m 74% of the balance sheet
Financial debts 10%Suppliers 57%Taxes and wages 22%Other 11%
€243,135 of the debts are secured on the company's own assets.
Securities
€385,000
Pledge on the business, new in 2025. 67.0% of equity · not in the 2024 accounts.
Investments
€152,788 2.1 × depreciation
Green is investment, beige is depreciation. Land and buildings stand 190.7% higher than in 2024.
Filings
21 annual accounts since 2005
Nine of the last ten came late. The 2017 accounts came latest: 60 days after the end of the period.
Checked score
85
Excellent
Financially stronger than 38% of small companies in specialised construction (NACE 43)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.3% across 2,647 companies (NACE 43, small).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.5%
01-2025: 0.5%● unchanged vs 12-2024
02-2025: 0.5%● unchanged vs 01-2025
03-2025: 0.4%▼ -0.1 percentage points vs 02-2025
04-2025: 0.4%● unchanged vs 03-2025
05-2025: 0.4%● unchanged vs 04-2025
06-2025: 0.4%● unchanged vs 05-2025
07-2025: 0.5%▲ +0.1 percentage points vs 06-2025
08-2025: 0.9%▲ +0.4 percentage points vs 07-2025highest value
09-2025: 0.5%▼ -0.4 percentage points vs 08-2025
10-2025: 0.5%● unchanged vs 09-2025
11-2025: 0.5%● unchanged vs 10-2025
12-2025: 0.5%● unchanged vs 11-2025
01-2026: 0.5%● unchanged vs 12-2025
02-2026: 0.5%● unchanged vs 01-2026
03-2026: 0.5%● unchanged vs 02-2026
04-2026: 0.5%● unchanged vs 03-2026
05-2026: 0.5%● unchanged vs 04-2026
06-2026: 0.5%● unchanged vs 05-2026
07-2026: 0.5%● unchanged vs 06-2026
08-2026: 0.2%▼ -0.3 percentage points vs 07-2026lowest value
09-2026: 0.2%● unchanged vs 08-2026lowest value
10-2026: 0.2%● unchanged vs 09-2026lowest value
11-2026: 0.2%● unchanged vs 10-2026lowest value
Financial strengthAverage
Score breakdown
raises risk
Sector: Specialised construction activities (NACE 43)
lowers risk
Founded in 2004
Profit of €113,927 (financial year 2025)
Figures for financial year 2025 (filed on 02-07-2026)
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 43, small). It does better than 31% of them on solvency, 22% on liquidity, 57% on profitability and 41% on growth.
The bankruptcy probability was computed on 08-11-2026 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 very low class on 30-06-2025, 0.1% 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, 2,613 companies had the same profile as ETABLISSEMENTS VRANCKEN has now. Each dot stands for 7 companies, two years later.
97.3%
were still trading
2.0%
stopped another way
0.7%
went bankrupt
That fits the bankruptcy probability of ETABLISSEMENTS VRANCKEN itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,447 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 2,613 companies, not a prediction for ETABLISSEMENTS VRANCKEN. 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 €45,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.25 (1.3 in 2024), below the usual 1.5. Short-term debt is 66.5% and cash 11.4% of total assets. 74.3% 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
Five signals.
lowers riskraises riskneutral
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 02-07-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 days early
2024
12 days late
2023
27 days late
2022
43 days late
2021
54 days late
2020
59 days late
2019
49 days late
← 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 31 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% 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 28 August (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- MAMIPA 99.5%score 84equity €722,419 (2025) · annual accounts 2025
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0864832303
2 directors appointed
Change of role: Michel Vrancken, from managing director to director · Appointments: COLLARD Michael (managing director) and VRANCKEN Gilles · General meeting of 14-11-2023 · Gazette deed
1 director appointed, 1 resignation, 2 reappointments
Resignation: VRANCKEN Gilles · Reappointments: VRANCKEN Michel Fernand Maurice (director) and COLLARD Michaël (director) · Appointment: VRANCKEN Michel Fernand Maurice (managing director) · General meeting of 24-05-2023 · Gazette deed
Appointment: Michael COLLARD (director)
General meeting of 20-12-2022 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| ETABLISSEMENTS VRANCKEN Liège | €2.2m | €2.6m | 25.7% | 43.1 |
| CLIMAWEST Zwevegem | €2.8m | €3.3m | 37.7% | 40.5 |
| ALYXEL Frameries | €2.2m | €3.2m | 37.2% | 54.9 |
| CELSIUS HVAC Pecq | €1.9m | €1.8m | 26.3% | 34.8 |
| AIR TECHNOLOGIES Mouscron | €2.8m | €2.8m | 55.5% | 31.7 |
| TM TECHNICS Houthalen-Helchteren | €3.0m | €2.9m | 41.7% | 32.4 |
| CAUVIN GUY Ath | €3.0m | €2.5m | 51.0% | 30.9 |
These companies have the same main activity as ETABLISSEMENTS VRANCKEN: installation of electric heating, air conditioning, cooling and ventilation (NACE 43222). They are comparable in size and age: total assets between €1.9m and €3m, founded between 1999 and 2005.
Official details
Source: KBO- Status
- Active since 20-04-2004Normal situation
- Activity
- Installation of electric heating, air conditioning, cooling and ventilationNACE 43222and 5 others
- Joint committees
- 124Construction
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.136.973.5444030 Liège, since 01-05-2004
- Financial year end
- 31 December
- Peppol
- Reachable since 25-09-2025
Annual accounts 2025
- ≈ €7.1mestimated
- €2.2m▲ 3.3%
- Employeeson 31-12-2025
- 43▲ 2.4%
- Filing
- Filed on 02-07-2026, 29 days before the end of the filing period
Insights on ETABLISSEMENTS VRANCKEN
ETABLISSEMENTS VRANCKEN has existed since 2004. The gross margin grew from €979,937 in 2006 to €2.6m in 2025.
The gross margin has grown every year since 2021.
MAMIPA holds all the shares. In December 2023, the Official Gazette published the appointment of COLLARD Michael 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 ETABLISSEMENTS VRANCKEN
- What is the company number of ETABLISSEMENTS VRANCKEN?
- The company number of ETABLISSEMENTS VRANCKEN is 0864.832.303. The VAT number is the same number with BE in front: BE 0864.832.303.
- Where is ETABLISSEMENTS VRANCKEN based?
- The registered office is at Avenue Albert-Ier 66, 4030 Liège.Company details
- What does ETABLISSEMENTS VRANCKEN do?
- According to the KBO register, the main activity is installation of electric heating, air conditioning, cooling and ventilation (NACE 43222).
- What is the legal form of ETABLISSEMENTS VRANCKEN?
- ETABLISSEMENTS VRANCKEN is a public limited company (NV).
- When was ETABLISSEMENTS VRANCKEN founded?
- ETABLISSEMENTS VRANCKEN was founded on 20-04-2004.
- Is ETABLISSEMENTS VRANCKEN still active?
- Yes, ETABLISSEMENTS VRANCKEN is an active enterprise in the KBO register.
- How many employees does ETABLISSEMENTS VRANCKEN have?
- ETABLISSEMENTS VRANCKEN had an average of 43.1 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does ETABLISSEMENTS VRANCKEN fall under?
- In its 2025 annual accounts, ETABLISSEMENTS VRANCKEN states joint committees 124 (Construction) and 200 (Auxiliary committee for white-collar workers).
- What is the turnover of ETABLISSEMENTS VRANCKEN?
- The turnover in financial year 2025 is ≈ €7.1m. This figure is estimated from the gross margin of €2.6m and 30 comparable companies (NACE 432). It probably lies between €5.9m and €8.8m.
- Is ETABLISSEMENTS VRANCKEN profitable?
- In financial year 2025, ETABLISSEMENTS VRANCKEN made a profit of €113,927.
- Where can I find the annual accounts of ETABLISSEMENTS VRANCKEN?
- ETABLISSEMENTS VRANCKEN filed 21 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of ETABLISSEMENTS VRANCKEN due?
- ETABLISSEMENTS VRANCKEN must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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