VAC Construct
ActiveSummary
The computed 12-month bankruptcy probability of VAC Construct is ≥ 25% (high). For VAC Construct, at least two filing cycles of the annual accounts are missing. The 2023 annual accounts show negative equity (-€70,226) and a net result of -€124,058. The figures fluctuate too strongly year-on-year for a reliable trend projection. The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Financials · fiscal year 2023, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€124,058▼ 95.2%
2022 · -€63,544
Working capital
-€66,129
2022 · €55,882
Trend over the years
2019 to 2023, 5 fiscal years
The operating result stays negative: a loss of €121,564 in 2023 against €57,967 in 2022; the loss grows and 2023 has the lowest result in the available series.
What the company sold each fiscal year and what was left of it. A loss stands below the zero line.
Operating result-€121,564
2023
Net result-€124,058
2023
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€67,148
2023
Equity-€70,226
2023
Debt€137,374
2023
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€66,129
2023
Point at or tap a year, or use the arrow keys on the chart, for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20192020202120222023
Operating result€115,640-€30,314▼ 73.8%€880▼ 97.1%-€57,967-€121,564▼ 110%
Net result€90,520-€23,814▼ 73.7%€542▼ 97.7%-€63,544-€124,058▼ 95.2%
Equity€93,020-€116,834▲ 25.6%€117,376▲ 0.5%€53,832▼ 54.1%-€70,226
Total assets€159,713-€217,093▲ 35.9%€179,582▼ 17.3%€155,236▼ 13.6%€67,148▼ 56.7%
Debt€66,693-€100,258▲ 50.3%€62,206▼ 38.0%€101,404▲ 63.0%€137,374▲ 35.5%
Working capital€91,881-€116,482▲ 26.8%€115,276▼ 1.0%€55,882▼ 51.5%-€66,129
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €67,148
Fixed assets
€6,812 ▲ 108%
Current assets
€60,335 ▼ 60.3%
Equity and liabilities
Equity-€70,226
Debt€137,374
Equity is negative: debt (€137,374) exceeds the balance-sheet total (€67,148).
Key figures and ratios
EBITDA
-€113,264
Cash flow
-€115,758
Solvency
-104.6%▼
2022 · 34.7%
Current ratio
0.48▼
2022 · 1.58
ROA
-184.8%▼
2022 · -40.9%
Interest coverage
-24.79
Debt ≤ 1 year
€126,464▲
2022 · €96,082
Staff costs
€28,322▼
2022 · €156,982
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €43,402 | €156,982 | €28,322 | ▼ 82.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,436 | €788 | €2,452 | - | €8,300 | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €52,175 | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €1,084 | - |
| Other operating charges640/8 | - | - | €1,968 | €200 | - | - |
| Gross operating margin9900 | €122,288 | €45,341 | €48,701 | €99,215 | -€31,682 | ▼ 132% |
| Operating profit (loss)9901 | €115,640 | €30,314 | €880 | -€57,967 | -€121,564 | ▼ 110% |
| Financial income75/76B | - | - | - | €47 | €2,075 | ▲ 4,292% |
| Recurring financial income75 | - | - | - | €47 | €2,075 | ▲ 4,292% |
| Financial charges65/66B | - | - | €337 | €2,225 | €4,569 | ▲ 105% |
| Recurring financial charges65 | €120 | - | €337 | €2,225 | €4,569 | ▲ 105% |
| Profit (loss) for the period before taxes9903 | €115,520 | €30,314 | €542 | -€60,144 | -€124,058 | ▼ 106% |
| Income taxes67/77 | €25,000 | €6,500 | - | €3,400 | - | - |
| Profit (loss) for the period9904 | €90,520 | €23,814 | €542 | -€63,544 | -€124,058 | ▼ 95.2% |
| Profit (loss) for the period to be appropriated9905 | €90,520 | €23,814 | €542 | -€63,544 | -€124,058 | ▼ 95.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €159,713 | €217,093 | €179,582 | €155,236 | €67,148 | ▼ 56.7% |
| Formation expenses20 | €0 | - | - | - | - | - |
| Fixed assets21/28 | €1,139 | €352 | €2,100 | €3,271 | €6,812 | ▲ 108% |
| Tangible fixed assets22/27 | €1,139 | €352 | €2,100 | €3,271 | €6,812 | ▲ 108% |
| Plant, machinery and equipment23 | - | - | - | €1,171 | - | - |
| Furniture and vehicles24 | - | - | €2,100 | €2,100 | €6,812 | ▲ 224% |
| Current assets29/58 | €158,574 | €216,741 | €177,482 | €151,965 | €60,335 | ▼ 60.3% |
| Amounts receivable within one year40/41 | €103,956 | €216,741 | €117,152 | €108,546 | €28,822 | ▼ 73.4% |
| Trade receivables40 | - | - | €65,514 | €85,498 | €10,471 | ▼ 87.8% |
| Other amounts receivable41 | - | - | €51,638 | €23,048 | €18,351 | ▼ 20.4% |
| Cash at bank and in hand54/58 | €54,618 | - | €60,331 | €40,465 | €23,986 | ▼ 40.7% |
| Deferred charges and accrued income490/1 | - | - | - | €2,953 | €7,528 | ▲ 155% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €159,713 | €217,093 | €179,582 | €155,236 | €67,148 | ▼ 56.7% |
| Equity10/15 | €93,020 | €116,834 | €117,376 | €53,832 | -€70,226 | ▼ 230% |
| Contributions10/11 | €2,500 | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Capital10 | - | - | - | - | €2,500 | - |
| Issued capital100 | - | - | - | - | €2,500 | - |
| Reserves13 | €250 | €250 | €250 | €250 | €250 | = |
| Non-distributable reserves130/1 | - | - | €250 | €250 | €250 | = |
| Legal reserve130 | - | - | - | - | €250 | - |
| Reserves not available under the articles1311 | - | - | €250 | €250 | - | - |
| Profit (loss) carried forward14 | €90,270 | €114,084 | €114,626 | €51,082 | -€72,976 | ▼ 243% |
| Amounts payable17/49 | €66,693 | €100,258 | €62,206 | €101,404 | €137,374 | ▲ 35.5% |
| Amounts payable within one year42/48 | €66,693 | €100,258 | €62,206 | €96,082 | €126,464 | ▲ 31.6% |
| Trade debts44 | €37,242 | €51,242 | €14,068 | €55,007 | €114,041 | ▲ 107% |
| Suppliers440/4 | - | - | €14,068 | €55,007 | €114,041 | ▲ 107% |
| Taxes, remuneration and social security45 | - | - | €48,138 | €16,179 | €12,423 | ▼ 23.2% |
| Taxes450/3 | - | - | €40,940 | €15,556 | €9,215 | ▼ 40.8% |
| Remuneration and social security454/9 | - | - | €7,198 | €623 | €3,208 | ▲ 415% |
| Other amounts payable47/48 | - | - | - | €24,897 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €5,321 | €10,909 | ▲ 105% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €90,520 | €23,814 | €542 | -€63,544 | -€124,058 | ▼ 95.2% |
| + Depreciation and write-downs630 | €2,436 | €788 | €2,452 | - | €8,300 | - |
| Operating cash flow (approximation) | €92,956 | €24,601 | €2,994 | -€63,544 | -€115,758 | ▼ 82.2% |
| Investment in fixed assets (approximation) | - | €0 | -€4,200 | -€1,171 | -€11,841 | ▼ 911% |
| Change in cash | - | - | - | -€19,865 | -€16,480 | ▲ 17.0% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.