V.G. ELEC
ActiveSummary
V.G. ELEC has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €984k and a net result of €22k. Equity is growing by ~19.8% per year across the filed fiscal years. Its solvency ranks better than 56% of 7838 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability37▼-2
Solvency74▲+2
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity ample (current ratio 1.57 against 1.66 in 2024; short-term debt: 42% and cash: 4.1% of total assets), but 50.7% 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
49.3%
Return on assets
1.1%
Age of the figures
9 mo
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 d early
2024
28 d early
2023
9 d late
2022
28 d early
2021
4 d late
2020
23 d late
2019
4 d early
← 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, abbreviated schema
Equity
€984k▲ 2.3%
2024 · €961k
2018: €340k
2019: €304k▼ -10.5% vs 2018lowest in 8 years
2020: €383k▲ +26.0% vs 2019
2021: €384k▲ +0.4% vs 2020
2022: €430k▲ +11.8% vs 2021
2023: €928k▲ +116% vs 2022
2024: €961k▲ +3.6% vs 2023
2025: €984k▲ +2.3% vs 2024highest in 8 years
2018 → 2025
Total assets
€2.00M▼ 3.4%
2024 · €2.07M
2018: €1.12M
2019: €880k▼ -21.7% vs 2018lowest in 8 years
2020: €1.26M▲ +43.1% vs 2019
2021: €2.22M▲ +76.4% vs 2020highest in 8 years
2022: €1.78M▼ -19.9% vs 2021
2023: €1.99M▲ +12.1% vs 2022
2024: €2.07M▲ +3.6% vs 2023
2025: €2.00M▼ -3.4% vs 2024
2018 → 2025
Net result
€22k▼ 34.3%
2024 · €34k
2018: €26k
2019: €-36k▼ -238% vs 2018
2020: €79k▲ +321% vs 2019highest in 8 years
2021: €1k▼ -98.3% vs 2020
2022: €45k▲ +3257% vs 2021
2023: €-84k▼ -285% vs 2022lowest in 8 years
2024: €34k▲ +140% vs 2023
2025: €22k▼ -34.3% vs 2024
2018 → 2025
Working capital
€477k▼ 13.2%
2024 · €549k
2018: €388k
2019: €314k▼ -19.0% vs 2018
2020: €311k▼ -1.1% vs 2019lowest in 8 years
2021: €949k▲ +206% vs 2020highest in 8 years
2022: €906k▼ -4.6% vs 2021
2023: €659k▼ -27.2% vs 2022
2024: €549k▼ -16.7% vs 2023
2025: €477k▼ -13.2% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€384k-€430k▲ 11.8%€928k▲ 116%€961k▲ 3.6%€984k▲ 2.3%
2021: €384klowest in 5 years
2022: €430k▲ +11.8% vs 2021
2023: €928k▲ +116% vs 2022
2024: €961k▲ +3.6% vs 2023
2025: €984k▲ +2.3% vs 2024highest in 5 years
Operating result€46k-€93k▲ 99.2%€-24k€79k€62k▼ 22.3%
2021: €46k
2022: €93k▲ +99.2% vs 2021highest in 5 years
2023: €-24k▼ -126% vs 2022lowest in 5 years
2024: €79k▲ +431% vs 2023
2025: €62k▼ -22.3% vs 2024
Net result€1k-€45k▲ 3,257%€-84k€34k€22k▼ 34.3%
2021: €1k
2022: €45k▲ +3257% vs 2021highest in 5 years
2023: €-84k▼ -285% vs 2022lowest in 5 years
2024: €34k▲ +140% vs 2023
2025: €22k▼ -34.3% vs 2024
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 22% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.00M
Fixed assets
€681k ▼ 1.2%
Current assets
€1.32M ▼ 4.5%
Equity and liabilities €2.00M
Equity
€984k ▲ 2.3%
Debt
€1.01M ▼ 8.4%
Debt's share of the balance-sheet total falls from 53.5% to 50.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€78k▼
2024 · €99k
Cash flow
€39k▼
2024 · €53k
Current ratio
1.57▼
2024 · 1.66
Quick ratio
1.32▼
2024 · 1.34
Debt to equity
1.03▼
2024 · 1.15
ROE
2.2%▼
2024 · 3.5%
ROA
1.1%▼
2024 · 1.6%
Interest coverage
1.98▼
2024 · 2.19
Debt ≤ 1 year
€839k▲
2024 · €828k
Debt > 1 year
€174k▼
2024 · €277k
Income taxes
€540▲
2024 · €516
Staff costs
€552k▲
2024 · €481k
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 · 56 lines
Balance sheet
Code20242025
Assets
Total assets20/58€2.07M€2.00M▼
Fixed assets21/28€690k€681k▼
Intangible fixed assets21€1k€775▼
Tangible fixed assets22/27€688k€681k▼
Land and buildings22€672k€671k▼
Plant, machinery and equipment23-€3k
Furniture and vehicles24€16k€6k▼
Current assets29/58€1.38M€1.32M▼
Stocks and contracts in progress3€269k€206k▼
Stocks30/36€55k€186k▲
Contracts in progress37€214k€20k▼
Amounts receivable within one year40/41€1.03M€1.00M▼
Trade receivables40€566k€521k▼
Other amounts receivable41€468k€482k▲
Current investments50/53€3k€0▼
Cash at bank and in hand54/58€55k€82k▲
Deferred charges and accrued income490/1€17k€24k▲
Equity and liabilities
Total equity and liabilities10/49€2.07M€2.00M▼
Equity10/15€961k€984k▲
Contributions10/11€211k€211k=
Revaluation surpluses12€582k€582k=
Reserves13€219k€219k=
Distributable reserves133€219k€219k=
Profit (loss) carried forward14€-50k€-28k▲
Amounts payable17/49€1.11M€1.01M▼
Amounts payable after more than one year17€277k€174k▼
Financial debts170/4€277k€174k▼
Amounts payable within one year42/48€828k€839k▲
Current portion of amounts payable after more than one year42€164k€104k▼
Financial debts43€200k€208k▲
Credit institutions430/8€200k€208k▲
Other loans439€0-
Trade debts44€426k€462k▲
Suppliers440/4€426k€462k▲
Taxes, remuneration and social security45€38k€43k▲
Taxes450/3€259€0▼
Remuneration and social security454/9€37k€43k▲
Other amounts payable47/48€1k€22k▲
Accrued charges and deferred income492/3-€793
Income statement
Code20242025
Non-recurring operating income76A€7k€0▼
Remuneration, social security and pensions62€481k€552k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€20k€17k▼
Other operating charges640/8€7k€7k▲
Gross operating margin9900€587k€637k▲
Operating profit (loss)9901€79k€62k▼
Financial income75/76B€29€529▲
Recurring financial income75€29€529▲
Financial charges65/66B€45k€40k▼
Recurring financial charges65€45k€40k▼
Profit (loss) for the period before taxes9903€34k€23k▼
Income taxes67/77€516€540▲
Profit (loss) for the period9904€34k€22k▼
Profit (loss) for the period to be appropriated9905€34k€22k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-50k€-28k▲
Profit (loss) brought forward from the previous period14P€-84k€-50k▲
Social balance
Average headcount (FTE)90878.89.7▲
The notes to these accounts (23 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €6k | €2k | €5k | €7k | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | €543k | €522k | €544k | €481k | €552k | ▲ 14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13k | €15k | €22k | €20k | €17k | ▼ 16.6% |
| Other operating charges640/8 | €21k | €5k | €6k | €7k | €7k | ▲ 2.1% |
| Non-recurring operating charges66A | €4k | €413 | €0 | - | - | - |
| Gross operating margin9900 | €627k | €636k | €548k | €587k | €637k | ▲ 8.4% |
| Operating profit (loss)9901 | €46k | €93k | €-24k | €79k | €62k | ▼ 22.3% |
| Financial income75/76B | €62k | €75 | €0 | €29 | €529 | ▲ 1,716% |
| Recurring financial income75 | €10k | €75 | €0 | €29 | €529 | ▲ 1,716% |
| Non-recurring financial income76B | €51k | €0 | - | - | - | - |
| Financial charges65/66B | €100k | €26k | €59k | €45k | €40k | ▼ 12.6% |
| Recurring financial charges65 | €25k | €26k | €59k | €45k | €40k | ▼ 12.6% |
| Non-recurring financial charges66B | €75k | €0 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €8k | €67k | €-83k | €34k | €23k | ▼ 33.7% |
| Income taxes67/77 | €7k | €21k | €595 | €516 | €540 | ▲ 4.7% |
| Profit (loss) for the period9904 | €1k | €45k | €-84k | €34k | €22k | ▼ 34.3% |
| Transfer from tax-exempt reserves789 | €0 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €1k | €45k | €-84k | €34k | €22k | ▼ 34.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.22M | €1.78M | €1.99M | €2.07M | €2.00M | ▼ 3.4% |
| Fixed assets21/28 | €112k | €110k | €699k | €690k | €681k | ▼ 1.2% |
| Intangible fixed assets21 | - | €2k | €2k | €1k | €775 | ▼ 36.8% |
| Tangible fixed assets22/27 | €112k | €108k | €698k | €688k | €681k | ▼ 1.1% |
| Land and buildings22 | €81k | €81k | €663k | €672k | €671k | ▼ 0.1% |
| Plant, machinery and equipment23 | €341 | €0 | - | - | €3k | - |
| Furniture and vehicles24 | €30k | €27k | €35k | €16k | €6k | ▼ 63.6% |
| Financial fixed assets28 | €0 | - | - | - | - | - |
| Current assets29/58 | €2.11M | €1.67M | €1.30M | €1.38M | €1.32M | ▼ 4.5% |
| Stocks and contracts in progress3 | €424k | €521k | €238k | €269k | €206k | ▼ 23.2% |
| Stocks30/36 | €99k | €121k | €125k | €55k | €186k | ▲ 238% |
| Contracts in progress37 | €325k | €400k | €113k | €214k | €20k | ▼ 90.5% |
| Amounts receivable within one year40/41 | €1.31M | €994k | €1.02M | €1.03M | €1.00M | ▼ 3.0% |
| Trade receivables40 | €1.11M | €472k | €565k | €566k | €521k | ▼ 8.0% |
| Other amounts receivable41 | €202k | €522k | €451k | €468k | €482k | ▲ 3.0% |
| Current investments50/53 | - | - | €13k | €3k | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €362k | €144k | €18k | €55k | €82k | ▲ 47.9% |
| Deferred charges and accrued income490/1 | €11k | €9k | €11k | €17k | €24k | ▲ 45.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.22M | €1.78M | €1.99M | €2.07M | €2.00M | ▼ 3.4% |
| Equity10/15 | €384k | €430k | €928k | €961k | €984k | ▲ 2.3% |
| Contributions10/11 | €211k | €211k | €211k | €211k | €211k | = |
| Revaluation surpluses12 | - | - | €582k | €582k | €582k | = |
| Reserves13 | €173k | €219k | €219k | €219k | €219k | = |
| Non-distributable reserves130/1 | €13k | €13k | €0 | - | - | - |
| Reserves not available under the articles1311 | €13k | €13k | €0 | - | - | - |
| Distributable reserves133 | €160k | €205k | €219k | €219k | €219k | = |
| Profit (loss) carried forward14 | - | - | €-84k | €-50k | €-28k | ▲ 44.0% |
| Amounts payable17/49 | €1.84M | €1.35M | €1.07M | €1.11M | €1.01M | ▼ 8.4% |
| Amounts payable after more than one year17 | €677k | €586k | €431k | €277k | €174k | ▼ 37.4% |
| Financial debts170/4 | €677k | €586k | €431k | €277k | €174k | ▼ 37.4% |
| Amounts payable within one year42/48 | €1.16M | €763k | €636k | €828k | €839k | ▲ 1.3% |
| Current portion of amounts payable after more than one year42 | €156k | €166k | €173k | €164k | €104k | ▼ 36.6% |
| Financial debts43 | €116k | €100k | €205k | €200k | €208k | ▲ 4.0% |
| Credit institutions430/8 | €116k | €100k | €200k | €200k | €208k | ▲ 4.0% |
| Other loans439 | - | - | €5k | €0 | - | - |
| Trade debts44 | €815k | €451k | €207k | €426k | €462k | ▲ 8.6% |
| Suppliers440/4 | €815k | €451k | €207k | €426k | €462k | ▲ 8.6% |
| Taxes, remuneration and social security45 | €72k | €46k | €50k | €38k | €43k | ▲ 13.0% |
| Taxes450/3 | €9k | €9k | €10k | €259 | €0 | ▼ 100% |
| Remuneration and social security454/9 | €63k | €37k | €41k | €37k | €43k | ▲ 13.8% |
| Other amounts payable47/48 | - | - | €497 | €1k | €22k | ▲ 2,021% |
| Accrued charges and deferred income492/3 | €160 | €324 | €0 | - | €793 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1k | €45k | €-84k | €34k | €22k | ▼ 34.3% |
| + Depreciation and write-downs630 | €13k | €15k | €22k | €20k | €17k | ▼ 16.6% |
| Operating cash flow (approximation) | €15k | €61k | €-62k | €53k | €39k | ▼ 27.8% |
| Investment in fixed assets (approximation) | - | €-14k | €-610k | €-10k | €-8k | ▲ 18.2% |
| Change in cash | - | €-218k | €-126k | €37k | €26k | ▼ 28.2% |
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
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €34k
Net result €34k after one loss-making year.
09-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 9 days late
2023
31-12
Financial
Weakest financial yearnet €-84k
Net result drops to €-84k, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €500kEq €928k ▲116%
Equity rises from €430k to €928k.
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
04-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 4 days late
2021
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 23 days late
2020
31-12
Financial
Back to profitnet €79k
Net result €79k after one loss-making year.
27-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
26-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Diepenbeek · 1 establishment unit since 1994
Ground area
2,974 m²
Building footprint
769 m²
Volume, LiDAR
4,473 m³
Parcel 71402D0225/00C000, Flanders · tallest building 6.7 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
VG ELEC
since 19942.065.609.753
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71402D0225/00C000 | Flanders | 2,974 m² | 1 · 769 m² | 6.7 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.
Public money · subsidies and aid
Flemish government
2024 to 2025 · 2 entries · 401 EUR awarded · 401 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 0 EUR | 39 EUR |
| 2024 | 1 | 401 EUR | 362 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Recognised contractor
4 categoriesV.G. ELEC BV44188
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Of 22,815 companies in sector 43211 we hold annual accounts for 10,325. 4,699 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
Founded08-02-1994
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
Scores and ratios are computed by Checked and are not a credit decision.