KVdE
ActiveSummary
KVdE has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €229,099 and a net result of €81,109. Equity is growing by ~5.6% per year across the filed fiscal years. Its solvency ranks better than 59% of 9537 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability97▼-3
Solvency89▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €21,000 at 30 days acceptable
Liquidity ample (current ratio 2.11 against 1.37 in 2024; short-term debt: 36.4% and cash: 66% of total assets), and 36.4% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
63.6%
Return on assets
22.5%
Age of the figures
9 mo
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 08-09-2026, 39 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
39 d late
2024
30 d late
2023
23 d late
2022
77 d early
2021
31 d early
2020
31 d late
2019
41 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 8 days after the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% 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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€229,099▲ 47.9%
2024 · €154,862
Total assets
€360,031▲ 30.6%
2024 · €275,581
Net result
€81,109▼ 2.2%
2024 · €82,925
Working capital
€145,287▲ 226%
2024 · €44,596
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, 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€3,846▲ 50.9%€4,189▲ 8.9%€63,121▲ 1,407%€120,518▲ 90.9%€114,517▼ 5.0%
Net result€2,974within the sector's middle half▲ 53.3%€2,316within the sector's middle half▼ 22.1%€40,107within the sector's middle half▲ 1,632%€82,925above the sector's middle half▲ 107%€81,109above the sector's middle half▼ 2.2%
Equity€84,688within the sector's middle half▼ 18.0%€44,504within the sector's middle half▼ 47.4%€71,936within the sector's middle half▲ 61.6%€154,862within the sector's middle half▲ 115%€229,099above the sector's middle half▲ 47.9%
Total assets€102,956within the sector's middle half▼ 2.0%€100,524within the sector's middle half▼ 2.4%€181,754within the sector's middle half▲ 80.8%€275,581within the sector's middle half▲ 51.6%€360,031above the sector's middle half▲ 30.6%
Debt€18,268▲ 981%€56,021▲ 207%€109,818▲ 96.0%€120,719▲ 9.9%€130,932▲ 8.5%
Working capital€44,860▼ 32.5%€11,620▼ 74.1%€37,637▲ 224%€44,596▲ 18.5%€145,287▲ 226%
Solvency82.3%above the sector's middle half▼ 16.1pp44.3%within the sector's middle half▼ 38.0pp39.6%within the sector's middle half▼ 4.7pp56.2%within the sector's middle half▲ 16.6pp63.6%within the sector's middle half▲ 7.4pp
above
within
below
the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, 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 falls in 2025; 2025 is 5% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €360,031
Fixed assets
€83,812 ▼ 24.0%
Current assets
€276,219 ▲ 67.1%
Equity and liabilities €360,031
Equity
€229,099 ▲ 47.9%
Debt
€130,932 ▲ 8.5%
Debt's share of the balance-sheet total falls from 43.8% to 36.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€141,970▲
2024 · €139,489
Cash flow
€108,563▲
2024 · €101,896
Current ratio
2.11▲
2024 · 1.37
Debt to equity
0.57▼
2024 · 0.78
ROE
35.4%▼
2024 · 53.5%
ROA
22.5%▼
2024 · 30.1%
Interest coverage
57.70▲
2024 · 34.82
Debt ≤ 1 year
€130,932▲
2024 · €120,719
Income taxes
€32,189▼
2024 · €34,351
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,058 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% | 1.6% |
| 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 74% 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 34,672 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,758 | €6,944 | €8,076 | €18,971 | €27,453 | ▲ 44.7% |
| Other operating charges640/8 | €3,063 | €1,042 | €2,126 | €2,077 | €2,026 | ▼ 2.4% |
| Gross operating margin9900 | €13,668 | €12,175 | €73,323 | €141,566 | €143,996 | ▲ 1.7% |
| Operating profit (loss)9901 | €3,846 | €4,189 | €63,121 | €120,518 | €114,517 | ▼ 5.0% |
| Financial income75/76B | €15 | - | - | €764 | €1,243 | ▲ 62.7% |
| Recurring financial income75 | €15 | - | - | €764 | €1,243 | ▲ 62.7% |
| Financial charges65/66B | €308 | €772 | €1,663 | €4,006 | €2,461 | ▼ 38.6% |
| Recurring financial charges65 | €308 | €772 | €1,663 | €4,006 | €2,461 | ▼ 38.6% |
| Profit (loss) for the period before taxes9903 | €3,553 | €3,417 | €61,458 | €117,276 | €113,299 | ▼ 3.4% |
| Income taxes67/77 | €579 | €1,102 | €21,351 | €34,351 | €32,189 | ▼ 6.3% |
| Profit (loss) for the period9904 | €2,974 | €2,316 | €40,107 | €82,925 | €81,109 | ▼ 2.2% |
| Profit (loss) for the period to be appropriated9905 | €2,974 | €2,316 | €40,107 | €82,925 | €81,109 | ▼ 2.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €102,956 | €100,524 | €181,754 | €275,581 | €360,031 | ▲ 30.6% |
| Fixed assets21/28 | €39,828 | €32,884 | €34,299 | €110,266 | €83,812 | ▼ 24.0% |
| Tangible fixed assets22/27 | €39,828 | €32,884 | €34,299 | €110,266 | €83,812 | ▼ 24.0% |
| Furniture and vehicles24 | - | - | €5,435 | €86,806 | €66,908 | ▼ 22.9% |
| Other tangible fixed assets26 | €39,828 | €32,884 | €28,864 | €23,460 | €16,904 | ▼ 27.9% |
| Current assets29/58 | €63,128 | €67,640 | €147,455 | €165,315 | €276,219 | ▲ 67.1% |
| Amounts receivable within one year40/41 | €598 | €1,805 | €45,851 | €26,527 | €38,432 | ▲ 44.9% |
| Trade receivables40 | - | - | €28,276 | €26,527 | €38,432 | ▲ 44.9% |
| Other amounts receivable41 | €598 | €1,805 | €17,575 | - | - | - |
| Cash at bank and in hand54/58 | €62,530 | €65,835 | €101,604 | €137,898 | €237,627 | ▲ 72.3% |
| Deferred charges and accrued income490/1 | - | - | - | €890 | €160 | ▼ 82.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €102,956 | €100,524 | €181,754 | €275,581 | €360,031 | ▲ 30.6% |
| Equity10/15 | €84,688 | €44,504 | €71,936 | €154,862 | €229,099 | ▲ 47.9% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €66,088 | €25,904 | €53,336 | €136,262 | €210,499 | ▲ 54.5% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €64,228 | €24,044 | €51,476 | €134,402 | €208,639 | ▲ 55.2% |
| Amounts payable17/49 | €18,268 | €56,021 | €109,818 | €120,719 | €130,932 | ▲ 8.5% |
| Amounts payable within one year42/48 | €18,268 | €56,021 | €109,818 | €120,719 | €130,932 | ▲ 8.5% |
| Financial debts43 | - | - | - | €67,725 | €80,000 | ▲ 18.1% |
| Other loans439 | - | - | - | €67,725 | €80,000 | ▲ 18.1% |
| Trade debts44 | €1,619 | - | €1,650 | €2,635 | €2,317 | ▼ 12.1% |
| Suppliers440/4 | €1,619 | - | €1,650 | €2,635 | €2,317 | ▼ 12.1% |
| Taxes, remuneration and social security45 | €3,462 | €1,362 | €34,523 | €37,211 | €31,551 | ▼ 15.2% |
| Taxes450/3 | €3,462 | €1,362 | €34,523 | €37,211 | €31,551 | ▼ 15.2% |
| Other amounts payable47/48 | €13,187 | €54,659 | €73,645 | €13,149 | €17,064 | ▲ 29.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,974 | €2,316 | €40,107 | €82,925 | €81,109 | ▼ 2.2% |
| + Depreciation and write-downs630 | €6,758 | €6,944 | €8,076 | €18,971 | €27,453 | ▲ 44.7% |
| Operating cash flow (approximation) | €9,733 | €9,259 | €48,183 | €101,896 | €108,563 | ▲ 6.5% |
| Investment in fixed assets (approximation) | - | €0 | -€9,491 | -€94,938 | -€1,000 | ▲ 98.9% |
| Change in cash | - | €3,305 | €35,769 | €36,294 | €99,728 | ▲ 175% |
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
08-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 39 days late
2025
31-12
Financial
Equity above €200,000Eq €229,099 ▲47.9%
8 profitable years in a row build equity to €229,099.
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
31-12
Financial
Highest result since 2018net €82,925 ▲107%
Operating result €120,518, net result €82,925, both a record.
31-12
Financial
Equity above €150,000Eq €154,862 ▲115%
7 profitable years in a row build equity to €154,862.
23-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 23 days late
2023
15-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Weakest financial yearnet €1,940 ▼60.4%
Net result drops to €1,940, the lowest in the series; recovery starts the following year.
10-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 41 days late
2019
31-12
Financial
Liquidity triplescurrent ratio 22.49
Current ratio from 8.54 to 22.49; short-term debt falls from €7,084 to €2,967.
Show earlier events
23-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 23 days late
2018
22-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 22 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Herentals · 1 establishment unit since 2011
Ground area
659 m²
Building footprint
163 m²
Volume, LiDAR
766 m³
Parcel 13027B0027/00W000, Flanders · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
KVdE
since 20112.203.632.043
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13027B0027/00W000 | Flanders | 659 m² | 1 · 163 m² | 7.9 m · 2 fl. |
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.
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Of 11,577 companies in sector 71121 we hold annual accounts for 6,563. 5,046 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)
Founded04-10-2011
Fiscal year end31-12
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0840021582
Also
9925:BE0840021582
Registered
31-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.