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VACA

Active
Cooperative companyfounded 199729 yrs activeZeedijk 330, 8400 Oostende, BelgiumKBO/BCE: BE 0461.255.289
Summary

VACA has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €115.1m and a net result of -€9.4m. Equity remains stable across the filed fiscal years (±0.8% per year). Its solvency ranks better than 95% of 1147 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).

Risk analysisWatch ReportCompare
VACAActiveChecked score 85/100
Risk analysis ReportCompare

Overview

Activity
Office administrative and support services
NACE 82100NACE 82110Other amusement and recreation activities NACE 93299
#2 company by total assets in Ostend, Administrative and support services sector3 sites
Size
€2.2mturnover 2025
Staff
7 FTE
Equity
€115.1m
Loss
-€9.4m
Financial health
85 Excellent Checked score 2025
Bankruptcy chance 12 m
0.3%
Structure
Board
6 members
Holdings
5
Auditor: KPMG Bedrijfsrevisoren BVAccounts 32 d early
Why 85- Loss of €9.4m (FY 2025)- Liquidity: current ratio 4.13, cash €4.0m+ Equity €115.1m (98.2% of total assets)+ Sector Office administrative, office support and other business support activities (NACE 82)Show the evidence

Checked score

Score 2025
85 / 100
Excellent
Probability in this band: under 0.55%
Better than 52% of its sector peers (NACE 82, micro)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Strong
Solvency 100=
equity 98.2% of total assets
Liquidity 54=
short-term debt 1.8% · cash 3.4%
Profitability 72-8
return on assets -8.1%
Bankruptcy probability, 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%

About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (12,603 companies)
Last 24 months 11-2024: 0.2% 12-2024: 0.2%● 0.0% vs 11-2024 01-2025: 0.2%▼ -3.2% vs 12-2024 02-2025: 0.1%▼ -4.0% vs 01-2025 03-2025: 0.1%▲ +2.1% vs 02-2025 04-2025: 0.2%▲ +8.8% vs 03-2025 05-2025: 0.2%▲ +5.6% vs 04-2025 06-2025: 0.2%▲ +0.6% vs 05-2025 07-2025: 0.1%▼ -25.7% vs 06-2025 08-2025: 0.1%● 0.0% vs 07-2025 09-2025: 0.1%● 0.0% vs 08-2025 10-2025: 0.1%● 0.0% vs 09-2025 11-2025: 0.1%▼ -6.3% vs 10-2025 12-2025: 0.1%● 0.0% vs 11-2025 01-2026: 0.1%▼ -3.4% vs 12-2025 02-2026: 0.1%▼ -4.3% vs 01-2026lowest value 03-2026: 0.1%▲ +1.8% vs 02-2026 04-2026: 0.1%▲ +8.9% vs 03-2026 05-2026: 0.1%▲ +5.7% vs 04-2026 06-2026: 0.1%▲ +3.1% vs 05-2026 07-2026: 0.3%▲ +152% vs 06-2026highest value 08-2026: 0.3%● 0.0% vs 07-2026highest value 09-2026: 0.3%● 0.0% vs 08-2026highest value 10-2026: 0.3%● 0.0% vs 09-2026highest value
  • Loss of €9.4m (FY 2025) raises the probability
  • Equity €115.1m (98.2% of total assets) lowers the probability
  • Liquidity: current ratio 4.13, cash €4.0m raises the probability
  • Sector Office administrative, office support and other business support activities (NACE 82) lowers the probability
Credit up to €220,000 at 30 days acceptable
Liquidity ample (current ratio 4.13 against 3.06 in 2024; short-term debt: 1.8% and cash: 3.4% of total assets), and 1.8% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 82, micro). Better than this share of them on solvency 88%, liquidity 47%, profitability 42%, growth against the median 32%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 05-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Loss of €9.4m (FY 2025)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
lowers risk · Equity €115.1m (98.2% of total assets)
In the bankruptcy model this factor lowers the probability.
NBB · annual accounts
raises risk · Liquidity: current ratio 4.13, cash €4.0m
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
lowers risk · Sector Office administrative, office support and other business support activities (NACE 82)
In the bankruptcy model this factor lowers the probability.
KBO
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 29-06-2026, 32 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
32 d early
2024
36 d early
2023
36 d early
2022
41 d early
2021
33 d early
2020
26 d early
2019
40 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 23 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% 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. Usually files around 26 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
06-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Reappointments: Vandenberghe Patrick, Cuppens Pierre and…State Gazette act
  2. Annual accounts filedfiscal year 2025 · full…
  3. Reappointment: KPMG Bedrijfsrevisoren BV (statutory auditor)Permanent representative: Steven Van Campenhout

Key points

  • Caution: From profit to loss in 2025after €1.4m in 2024 -€9.4m View
  • Caution: Among the weakest 5% on net resultsector median €49,016 · 1,148 companies -€9.4m View
  • Heads a groupcompanies controlled 5 View
  • Positive: Always filed on timeaccounts within the deadline every year 6 years View

By topic

Financials

Fiscal year
2025
Turnover
€2.2m
Loss
-€9.4m
Solvency
98.2%
Turnover▼ 5.9%
Net result
20182025
Go to Financials

Timeline

Events
31
Since
2006
Next accounts
by 31-07-2027
  1. 01-10-2026Reappointments: Vandenberghe Patrick, Cuppens Pierre and 4…
  2. 29-06-2026Annual accounts filed
  3. 24-10-2025Reappointment: KPMG Bedrijfsrevisoren BV (statutory auditor)
Go to Timeline

Company details

Sites
3
Legal form
Cooperative company
Activity
Office administrative and support servicesNACE 82100
Founded
09-06-1997
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Articles of association

Provisions read
2
Purpose
Coöperatieve finaliteit: bijdragen tot de ontplooiing en het welzijn van de…
Go to Articles of association

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