GROUP VANDERSTEENE
ActiveSummary
GROUP VANDERSTEENE has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €149k and a net result of €7k. Equity is growing by ~120.1% per year across the filed fiscal years. Its solvency ranks better than 30% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability45▼-54
Solvency54▼-40
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days acceptable
Liquidity tight (current ratio 1.44 against 3.07 in 2024; short-term debt: 20.8% and cash: 0.2% of total assets), and 71.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
28.8%
Return on assets
1.4%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
1 d late
2023
30 d late
2022
31 d late
2021
on the day
2020
1 d early
2019
28 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€149k▲ 4.9%
2024 · €142k
2018: €557lowest in 8 years
2019: €4k▲ +668% vs 2018
2020: €12k▲ +176% vs 2019
2021: €26k▲ +120% vs 2020
2022: €67k▲ +158% vs 2021
2023: €125k▲ +86.1% vs 2022
2024: €142k▲ +13.9% vs 2023
2025: €149k▲ +4.9% vs 2024highest in 8 years
2018 → 2025
Total assets
€518k▲ 150%
2024 · €207k
2018: €51k
2019: €47k▼ -7.2% vs 2018lowest in 8 years
2020: €55k▲ +16.6% vs 2019
2021: €66k▲ +18.5% vs 2020
2022: €99k▲ +51.3% vs 2021
2023: €162k▲ +63.6% vs 2022
2024: €207k▲ +27.7% vs 2023
2025: €518k▲ +150% vs 2024highest in 8 years
2018 → 2025
Net result
€7k▼ 86.1%
2024 · €50k
2018: €-5klowest in 8 years
2019: €4k▲ +179% vs 2018
2020: €8k▲ +102% vs 2019
2021: €14k▲ +89.0% vs 2020
2022: €41k▲ +190% vs 2021
2023: €58k▲ +40.5% vs 2022highest in 8 years
2024: €50k▼ -12.9% vs 2023
2025: €7k▼ -86.1% vs 2024
2018 → 2025
Working capital
€48k▼ 64.5%
2024 · €134k
2018: €3klowest in 8 years
2019: €8k▲ +177% vs 2018
2020: €10k▲ +21.0% vs 2019
2021: €23k▲ +121% vs 2020
2022: €61k▲ +171% vs 2021
2023: €122k▲ +98.5% vs 2022
2024: €134k▲ +10.5% vs 2023highest in 8 years
2025: €48k▼ -64.5% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€26k-€67k▲ 158%€125k▲ 86.1%€142k▲ 13.9%€149k▲ 4.9%
2021: €26klowest in 5 years
2022: €67k▲ +158% vs 2021
2023: €125k▲ +86.1% vs 2022
2024: €142k▲ +13.9% vs 2023
2025: €149k▲ +4.9% vs 2024highest in 5 years
Operating result€21k-€66k▲ 211%€90k▲ 35.3%€76k▼ 15.0%€21k▼ 72.3%
2021: €21k
2022: €66k▲ +211% vs 2021
2023: €90k▲ +35.3% vs 2022highest in 5 years
2024: €76k▼ -15.0% vs 2023
2025: €21k▼ -72.3% vs 2024lowest in 5 years
Net result€14k-€41k▲ 190%€58k▲ 40.5%€50k▼ 12.9%€7k▼ 86.1%
2021: €14k
2022: €41k▲ +190% vs 2021
2023: €58k▲ +40.5% vs 2022highest in 5 years
2024: €50k▼ -12.9% vs 2023
2025: €7k▼ -86.1% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 72% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €518k
Fixed assets
€362k ▲ 4,408%
Current assets
€156k ▼ 21.9%
Equity and liabilities €518k
Equity
€149k ▲ 4.9%
Debt
€369k ▲ 467%
Debt's share of the balance-sheet total rises from 31.4% to 71.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€35k▼
2024 · €79k
Cash flow
€21k▼
2024 · €53k
Current ratio
1.44▼
2024 · 3.07
Quick ratio
1.16▼
2024 · 2.62
Debt to equity
2.47▲
2024 · 0.46
ROE
4.7%▼
2024 · 35.4%
ROA
1.4%▼
2024 · 24.3%
Interest coverage
2.91▼
2024 · 10.16
Debt ≤ 1 year
€108k▲
2024 · €65k
Debt > 1 year
€259k
Income taxes
€4k▼
2024 · €21k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 54 lines
Balance sheet
Code20242025
Assets
Total assets20/58€207k€518k▲
Fixed assets21/28€8k€362k▲
Intangible fixed assets21€1k€795▼
Tangible fixed assets22/27€7k€362k▲
Land and buildings22-€342k
Plant, machinery and equipment23-€957
Furniture and vehicles24€3k€8k▲
Other tangible fixed assets26€4k€10k▲
Current assets29/58€199k€156k▼
Stocks and contracts in progress3€29k€30k▲
Stocks30/36€19k€20k▲
Contracts in progress37€10k€10k=
Amounts receivable within one year40/41€124k€119k▼
Trade receivables40€111k€107k▼
Other amounts receivable41€13k€12k▼
Current investments50/53€5k€5k=
Cash at bank and in hand54/58€41k€964▼
Deferred charges and accrued income490/1€254€254=
Equity and liabilities
Total equity and liabilities10/49€207k€518k▲
Equity10/15€142k€149k▲
Contributions10/11€19k€19k=
Reserves13€124k€131k▲
Distributable reserves133€124k€131k▲
Amounts payable17/49€65k€369k▲
Amounts payable after more than one year17-€259k
Financial debts170/4-€259k
Amounts payable within one year42/48€65k€108k▲
Current portion of amounts payable after more than one year42-€15k
Financial debts43-€40k
Credit institutions430/8-€40k
Trade debts44€35k€23k▼
Suppliers440/4€35k€23k▼
Taxes, remuneration and social security45€20k€7k▼
Taxes450/3€20k€7k▼
Other amounts payable47/48€10k€24k▲
Accrued charges and deferred income492/3-€2k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€14k▲
Other operating charges640/8€2k€2k▼
Gross operating margin9900€80k€37k▼
Operating profit (loss)9901€76k€21k▼
Financial income75/76B€3k€3k▼
Recurring financial income75€3k€3k▼
Financial charges65/66B€8k€12k▲
Recurring financial charges65€8k€12k▲
Profit (loss) for the period before taxes9903€72k€11k▼
Income taxes67/77€21k€4k▼
Profit (loss) for the period9904€50k€7k▼
Profit (loss) for the period to be appropriated9905€50k€7k▼
Appropriation of the result
Profit (loss) to be appropriated9906€50k€7k▼
Transfer from equity791/2€33k-
Transfer to equity691/2€50k€7k▼
To other reserves6921€50k€7k▼
Profit to be distributed694/7€33k-
Return on contributions (dividend)694€33k-
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1k | €2k | €4k | €3k | €14k | ▲ 431% |
| Other operating charges640/8 | €3k | €2k | €2k | €2k | €2k | ▼ 0.7% |
| Gross operating margin9900 | €26k | €70k | €96k | €80k | €37k | ▼ 53.9% |
| Operating profit (loss)9901 | €21k | €66k | €90k | €76k | €21k | ▼ 72.3% |
| Financial income75/76B | €4k | €3k | €5k | €3k | €3k | ▼ 22.9% |
| Recurring financial income75 | €4k | €3k | €5k | €3k | €3k | ▼ 22.9% |
| Financial charges65/66B | €2k | €10k | €7k | €8k | €12k | ▲ 56.9% |
| Recurring financial charges65 | €2k | €10k | €7k | €8k | €12k | ▲ 56.9% |
| Profit (loss) for the period before taxes9903 | €23k | €59k | €88k | €72k | €11k | ▼ 84.0% |
| Income taxes67/77 | €9k | €18k | €31k | €21k | €4k | ▼ 79.1% |
| Profit (loss) for the period9904 | €14k | €41k | €58k | €50k | €7k | ▼ 86.1% |
| Profit (loss) for the period to be appropriated9905 | €14k | €41k | €58k | €50k | €7k | ▼ 86.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €66k | €99k | €162k | €207k | €518k | ▲ 150% |
| Fixed assets21/28 | €5k | €6k | €3k | €8k | €362k | ▲ 4,408% |
| Intangible fixed assets21 | - | €2k | €2k | €1k | €795 | ▼ 36.0% |
| Tangible fixed assets22/27 | €5k | €4k | €2k | €7k | €362k | ▲ 5,219% |
| Land and buildings22 | - | - | - | - | €342k | - |
| Plant, machinery and equipment23 | €1k | €728 | €312 | - | €957 | - |
| Furniture and vehicles24 | €4k | €3k | €1k | €3k | €8k | ▲ 159% |
| Other tangible fixed assets26 | - | - | - | €4k | €10k | ▲ 183% |
| Current assets29/58 | €60k | €93k | €159k | €199k | €156k | ▼ 21.9% |
| Stocks and contracts in progress3 | €3k | €22k | €13k | €29k | €30k | ▲ 4.3% |
| Stocks30/36 | €3k | €10k | €13k | €19k | €20k | ▲ 6.5% |
| Contracts in progress37 | - | €12k | - | €10k | €10k | = |
| Amounts receivable within one year40/41 | €49k | €63k | €108k | €124k | €119k | ▼ 4.0% |
| Trade receivables40 | €44k | €46k | €78k | €111k | €107k | ▼ 3.4% |
| Other amounts receivable41 | €6k | €17k | €30k | €13k | €12k | ▼ 9.6% |
| Current investments50/53 | €3k | €5k | €5k | €5k | €5k | = |
| Cash at bank and in hand54/58 | €4k | €2k | €32k | €41k | €964 | ▼ 97.6% |
| Deferred charges and accrued income490/1 | €1k | €254 | €508 | €254 | €254 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €66k | €99k | €162k | €207k | €518k | ▲ 150% |
| Equity10/15 | €26k | €67k | €125k | €142k | €149k | ▲ 4.9% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €7k | €49k | €106k | €124k | €131k | ▲ 5.7% |
| Distributable reserves133 | €7k | €49k | €106k | €124k | €131k | ▲ 5.7% |
| Amounts payable17/49 | €40k | €32k | €37k | €65k | €369k | ▲ 467% |
| Amounts payable after more than one year17 | €2k | - | - | - | €259k | - |
| Financial debts170/4 | €2k | - | - | - | €259k | - |
| Amounts payable within one year42/48 | €38k | €32k | €37k | €65k | €108k | ▲ 66.0% |
| Current portion of amounts payable after more than one year42 | €4k | €2k | - | - | €15k | - |
| Financial debts43 | - | - | €18k | - | €40k | - |
| Credit institutions430/8 | - | - | €18k | - | €40k | - |
| Trade debts44 | €20k | €13k | €7k | €35k | €23k | ▼ 35.5% |
| Suppliers440/4 | €20k | €13k | €7k | €35k | €23k | ▼ 35.5% |
| Taxes, remuneration and social security45 | €9k | €18k | €13k | €20k | €7k | ▼ 65.7% |
| Taxes450/3 | €9k | €18k | €13k | €20k | €7k | ▼ 65.7% |
| Other amounts payable47/48 | €4k | - | - | €10k | €24k | ▲ 135% |
| Accrued charges and deferred income492/3 | €83 | - | - | - | €2k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14k | €41k | €58k | €50k | €7k | ▼ 86.1% |
| + Depreciation and write-downs630 | €1k | €2k | €4k | €3k | €14k | ▲ 431% |
| Operating cash flow (approximation) | €16k | €43k | €62k | €53k | €21k | ▼ 59.7% |
| Investment in fixed assets (approximation) | - | €-2k | €-1k | €-7k | €-369k | ▼ 4,952% |
| Change in cash | - | €-2k | €30k | €9k | €-40k | ▼ 541% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
01-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 1 day late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Highest result since 2018net €58k ▲40.5%
Operating result €90k, net result €58k, both a record.
31-12
Financial
Equity above €100kEq €125k ▲86.1%
5 profitable years in a row build equity to €125k.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
30-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
28-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 28 days late
2019
30-09
Financial
Back to profitnet €4k
Net result €4k after one loss-making year.
29-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
04-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
29-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Menen · 1 establishment unit since 2014
Ground area
715 m²
Building footprint
158 m²
Volume, LiDAR
7 m³
Parcel 34032A0504/00B005, Flanders · tallest building 3.6 m. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Cycling Academy
since 20142.243.500.528
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34032A0504/00B005 | Flanders | 715 m² | 1 · 158 m² | 3.6 m |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 114 EUR awarded| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 114 EUR | 0 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Legal Entity Identifier
967600V7GBF2DPYY5066
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Of 7,041 companies in sector 43221 we hold annual accounts for 3,473. 2,991 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
Founded19-04-2010
Fiscal year end31-12
Activities, NACEBEL 2025
43221Plumbing work
43222Installation of electric heating, air conditioning, cooling and ventilation
43230Insulation installation
Scores and ratios are computed by Checked and are not a credit decision.