VAB
ActiveSummary
VAB has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €9,677 and a net result of €14,720. Equity is growing by ~65.3% per year across the filed fiscal years. Its solvency ranks better than 13% of 471 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability83▲+36
Solvency32▲+17
Growth63▲+30
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity short (current ratio 0.89 against 0.28 in 2023; short-term debt: 92.6% and cash: 80% of total assets), and 92.7% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 94
Relative position
BE, all sectors
reference
Activities of membership organisations (NACE 94)
about 92% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
7.3%
Return on assets
11.1%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 471 sector peers (2024).
NBB · sector comparisonPosition among 471 sector peers
Solvency
better than 13%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-06-2025, 37 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
37 d early
2023
27 d early
2022
8 d early
2021
48 d early
2020
44 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 33 days before the deadline; the sector median for financial year 2024 is 29 days before the deadline, and 25% of the sector filed late.
Checked, nothing found (1)
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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Financials · fiscal year 2024, micro schema
Turnover
€301,000▼ 3.1%
2021 · €310,709
EBIT margin
-1.5%▼ 1.7pp
2021 · 0.2%
Net result
€14,720
2023 · -€5,043
Working capital
-€13,848▲ 65.1%
2023 · -€39,673
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 94, Activities of membership organisations, 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
Line20202021202220232024
Turnover€296,019-€310,709▲ 5.0%€301,000
Operating result€67-€748▲ 1,010%€819▲ 9.6%-€4,416€17,385
Net result-€3,500within the sector's middle half-€3,500within the sector's middle half-€5,043within the sector's middle half€14,720within the sector's middle half
EBIT margin0.0%-0.2%▲ 0.2pp-1.5%
Equity-€3,500below the sector's middle half--€5,043below the sector's middle half€9,677below the sector's middle half
Total assets€92,746within the sector's middle half-€100,724below the sector's middle half▲ 8.6%€79,628below the sector's middle half▼ 20.9%€50,796below the sector's middle half▼ 36.2%€132,563within the sector's middle half▲ 161%
Debt€96,246-€100,724▲ 4.7%€79,628▼ 20.9%€55,839▼ 29.9%€122,886▲ 120%
Working capital-€4,455below the sector's middle half--€26,981below the sector's middle half▼ 506%-€9,872below the sector's middle half▲ 63.4%-€39,673below the sector's middle half▼ 302%-€13,848below the sector's middle half▲ 65.1%
Solvency-3.8%below the sector's middle half--9.9%below the sector's middle half7.3%below the sector's middle half▲ 17.2pp
Current ratio0.95below the sector's middle half-0.73below the sector's middle half▼ 0.220.86below the sector's middle half▲ 0.130.28below the sector's middle half▼ 0.570.89below the sector's middle half▲ 0.60
Return on assets (ROA)-3.8%below the sector's middle half-3.5%within the sector's middle half▲ 7.2pp-9.9%below the sector's middle half11.1%within the sector's middle half▲ 21.0pp
Staff (FTE)1.8within the sector's middle half-1.8=1.7▼ 5.6%2▲ 17.6%2=
above
within
below
the middle half (P25 to P75) of NACE 94, Activities of membership organisations, 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 returns to profit in 2024: €17,385 after a loss of €4,416 in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €132,563
Fixed assets
€23,668 ▼ 32.4%
Current assets
€108,895 ▲ 589%
Equity and liabilities €132,563
Equity
€9,677
Debt
€122,886
Debt finances 92.7% of the balance-sheet total.
Key figures and ratios
EBITDA
€28,719▲
2023 · €5,185
Cash flow
€26,054▲
2023 · €4,558
Debt to equity
12.70▲
2023 · -11.07
ROE
152.1%
Interest coverage
10.50▼
2023 · 77.39
Debt ≤ 1 year
€122,743▲
2023 · €55,467
Income taxes
€781▲
2023 · €560
Staff costs
€268,797▲
2023 · €247,034
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,151 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: < 0.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 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% | 1.7% |
| 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 75% 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 2,151 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €296,019 | €310,709 | - | €301,000 | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €91,839 | - | €58,926 | - | - |
| Remuneration, social security and pensions62 | - | €213,489 | €212,224 | €247,034 | €268,797 | ▲ 8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €27 | €6,244 | €6,781 | €9,601 | €11,334 | ▲ 18.1% |
| Other operating charges640/8 | - | €1,120 | - | €604 | €747 | ▲ 23.7% |
| Gross operating margin9900 | €208,885 | €221,600 | €219,824 | €251,794 | €299,771 | ▲ 19.1% |
| Operating profit (loss)9901 | €67 | €748 | €819 | -€4,416 | €17,385 | ▲ 494% |
| Financial income75/76B | - | - | - | - | €852 | - |
| Recurring financial income75 | - | - | - | - | €389 | - |
| Non-recurring financial income76B | - | - | - | - | €463 | - |
| Financial charges65/66B | - | €431 | €266 | €67 | €2,736 | ▲ 3,984% |
| Recurring financial charges65 | €67 | €431 | €266 | €67 | €2,736 | ▲ 3,984% |
| Profit (loss) for the period before taxes9903 | - | €316 | €553 | -€4,483 | €15,501 | ▲ 446% |
| Income taxes67/77 | €3,500 | -€3,184 | €553 | €560 | €781 | ▲ 39.5% |
| Profit (loss) for the period9904 | -€3,500 | €3,500 | - | -€5,043 | €14,720 | ▲ 392% |
| Profit (loss) for the period to be appropriated9905 | -€3,500 | €3,500 | - | -€5,043 | €14,720 | ▲ 392% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €92,746 | €100,724 | €79,628 | €50,796 | €132,563 | ▲ 161% |
| Fixed assets21/28 | €955 | €26,981 | €20,200 | €35,002 | €23,668 | ▼ 32.4% |
| Tangible fixed assets22/27 | €955 | €26,981 | €20,200 | €35,002 | €23,668 | ▼ 32.4% |
| Plant, machinery and equipment23 | - | €628 | €300 | - | - | - |
| Furniture and vehicles24 | - | €26,353 | €19,899 | €35,002 | €23,668 | ▼ 32.4% |
| Current assets29/58 | €91,791 | €73,743 | €59,428 | €15,794 | €108,895 | ▲ 589% |
| Amounts receivable within one year40/41 | - | €13 | €13 | €4,288 | - | - |
| Trade receivables40 | - | - | - | €4,275 | - | - |
| Other amounts receivable41 | - | €13 | €13 | €13 | - | - |
| Cash at bank and in hand54/58 | €90,015 | €71,749 | €57,334 | €10,941 | €106,052 | ▲ 869% |
| Deferred charges and accrued income490/1 | - | €1,980 | €2,081 | €565 | €2,843 | ▲ 403% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €92,746 | €100,724 | €79,628 | €50,796 | €132,563 | ▲ 161% |
| Equity10/15 | -€3,500 | - | - | -€5,043 | €9,677 | ▲ 292% |
| Profit (loss) carried forward14 | -€3,500 | - | - | -€5,043 | €9,677 | ▲ 292% |
| Amounts payable17/49 | €96,246 | €100,724 | €79,628 | €55,839 | €122,886 | ▲ 120% |
| Amounts payable within one year42/48 | €96,246 | €100,724 | €69,300 | €55,467 | €122,743 | ▲ 121% |
| Trade debts44 | €41,086 | €46,633 | €11,938 | €4,895 | €51,627 | ▲ 955% |
| Suppliers440/4 | - | €46,633 | €11,938 | €4,895 | €51,627 | ▲ 955% |
| Taxes, remuneration and social security45 | - | €53,597 | €57,362 | €50,572 | €71,116 | ▲ 40.6% |
| Taxes450/3 | - | €17,492 | €23,707 | €12,583 | €22,134 | ▲ 75.9% |
| Remuneration and social security454/9 | - | €36,105 | €33,655 | €37,989 | €48,982 | ▲ 28.9% |
| Accrued charges and deferred income492/3 | - | - | €10,328 | €372 | €143 | ▼ 61.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,500 | €3,500 | - | -€5,043 | €14,720 | ▲ 392% |
| + Depreciation and write-downs630 | €27 | €6,244 | €6,781 | €9,601 | €11,334 | ▲ 18.1% |
| Operating cash flow (approximation) | -€3,473 | €9,744 | €6,781 | €4,558 | €26,054 | ▲ 472% |
| Investment in fixed assets (approximation) | - | -€32,269 | €0 | -€24,403 | €0 | ▲ 100% |
| Change in cash | - | -€18,266 | -€14,415 | -€46,393 | €95,111 | ▲ 305% |
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
2025
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €14,720
Net result €14,720 after one loss-making year.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€5,043
Net result drops to -€5,043, the lowest in the series; recovery starts the following year.
23-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
13-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €3,500
Net result €3,500 after one loss-making year.
17-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Beveren-Kruibeke-Zwijndrecht · 1 establishment unit since 2020
Ground area
1.3 ha
Building footprint
4,235 m²
Volume, LiDAR
34,170 m³
Parcel 11011A0604/00W003, Flanders · tallest building 15.0 m, ±2 floors. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
VAB
since 20202.295.661.089
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11011A0604/00W003 | Flanders | 1.3 ha | 1 · 4,235 m² | 15.0 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 443 companies in sector 94992 we hold annual accounts for 139. 34 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formNon-profit association
Founded24-10-2019
Fiscal year end31-12
Activities, NACEBEL 2025
94992Activities of membership organisations
E-invoicing
Reachable via Peppol
Peppol ID
0208:0736755382
Registered
10-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.