VADAS
ActiveSummary
The computed 12-month bankruptcy probability of VADAS is 3.3% (moderate). The 2025 annual accounts show equity of €33,620 and a net result of €1,377. Equity is growing by ~8.6% per year across the filed fiscal years. Its solvency ranks better than 87% of 28254 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability73▼-8
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
3.3%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity ample (current ratio 3.61 against 4.93 in 2024; short-term debt: 17.6% and cash: 29.6% of total assets), and 17.6% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · 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 · 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
82.4%
Return on assets
3.4%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 26-03-2026, 35 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
35 d early
2024
55 d early
2023
31 d early
2022
37 d early
2021
9 d early
2020
56 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 37 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€70,050
EBIT margin
16.3%
Net result
€1,377▼ 65.0%
2024 · €3,938
Working capital
€18,703▼ 30.0%
2024 · €26,720
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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
Turnover€70,050
Operating result€11,418▼ 14.2%€11,235▼ 1.6%€6,550▼ 41.7%€6,066▼ 7.4%€2,389▼ 60.6%
Net result€6,417within the sector's middle half▼ 51.3%€8,366within the sector's middle half▲ 30.4%€4,991within the sector's middle half▼ 40.3%€3,938within the sector's middle half▼ 21.1%€1,377within the sector's middle half▼ 65.0%
EBIT margin16.3%
Equity€25,796within the sector's middle half▲ 33.1%€34,162within the sector's middle half▲ 32.4%€39,153within the sector's middle half▲ 14.6%€32,244within the sector's middle half▼ 17.6%€33,620within the sector's middle half▲ 4.3%
Total assets€52,572below the sector's middle half▲ 52.7%€57,272below the sector's middle half▲ 8.9%€52,645below the sector's middle half▼ 8.1%€40,878below the sector's middle half▼ 22.4%€40,797below the sector's middle half▼ 0.2%
Debt€26,775▲ 78.0%€23,110▼ 13.7%€13,492▼ 41.6%€8,634▼ 36.0%€7,176▼ 16.9%
Working capital€24,112within the sector's middle half▲ 24.4%€27,379within the sector's middle half▲ 13.5%€33,062within the sector's middle half▲ 20.8%€26,720within the sector's middle half▼ 19.2%€18,703within the sector's middle half▼ 30.0%
Solvency49.1%within the sector's middle half▼ 7.2pp59.6%within the sector's middle half▲ 10.6pp74.4%above the sector's middle half▲ 14.7pp78.9%above the sector's middle half▲ 4.5pp82.4%above the sector's middle half▲ 3.5pp
Current ratio4.80above the sector's middle half▲ 2.363.16above the sector's middle half▼ 1.645.53above the sector's middle half▲ 2.374.93above the sector's middle half▼ 0.593.61above the sector's middle half▼ 1.33
Return on assets (ROA)12.2%within the sector's middle half▼ 26.1pp14.6%within the sector's middle half▲ 2.4pp9.5%within the sector's middle half▼ 5.1pp9.6%within the sector's middle half▲ 0.2pp3.4%within the sector's middle half▼ 6.3pp
Staff (FTE)1
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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 has fallen four years in a row; 2025 is 61% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €40,797
Fixed assets
€14,917 ▲ 102%
Current assets
€25,880 ▼ 22.8%
Equity and liabilities €40,797
Equity
€33,620 ▲ 4.3%
Debt
€7,176 ▼ 16.9%
Debt's share of the balance-sheet total falls from 21.1% to 17.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€8,839▼
2024 · €10,982
Cash flow
€7,827▼
2024 · €8,854
Debt to equity
0.21▼
2024 · 0.27
ROE
4.1%▼
2024 · 12.2%
Interest coverage
34.18▲
2024 · 28.02
Debt ≤ 1 year
€7,176▲
2024 · €6,791
Income taxes
€755▼
2024 · €1,744
Staff costs
€18,978
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,049 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 94% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
2.0%
went bankrupt
3.7%
stopped otherwise
94%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 3.3% 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 5,049 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €70,050 | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €55,217 | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | - | €18,978 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,923 | €4,916 | €4,916 | €4,916 | €6,450 | ▲ 31.2% |
| Other operating charges640/8 | €53 | €107 | €261 | €293 | €80 | ▼ 72.6% |
| Non-recurring operating charges66A | €589 | - | - | €535 | - | - |
| Gross operating margin9900 | €14,983 | €16,258 | €11,727 | €11,810 | €27,897 | ▲ 136% |
| Operating profit (loss)9901 | €11,418 | €11,235 | €6,550 | €6,066 | €2,389 | ▼ 60.6% |
| Financial income75/76B | €1 | - | €2 | €8 | €2 | ▼ 80.8% |
| Recurring financial income75 | €1 | - | €2 | €8 | €2 | ▼ 80.8% |
| Financial charges65/66B | €336 | €687 | €135 | €392 | €259 | ▼ 34.0% |
| Recurring financial charges65 | €336 | €687 | €135 | €392 | €259 | ▼ 34.0% |
| Profit (loss) for the period before taxes9903 | €11,083 | €10,548 | €6,417 | €5,682 | €2,132 | ▼ 62.5% |
| Income taxes67/77 | €4,665 | €2,182 | €1,426 | €1,744 | €755 | ▼ 56.7% |
| Profit (loss) for the period9904 | €6,417 | €8,366 | €4,991 | €3,938 | €1,377 | ▼ 65.0% |
| Profit (loss) for the period to be appropriated9905 | €6,417 | €8,366 | €4,991 | €3,938 | €1,377 | ▼ 65.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €52,572 | €57,272 | €52,645 | €40,878 | €40,797 | ▼ 0.2% |
| Fixed assets21/28 | €22,115 | €17,199 | €12,283 | €7,367 | €14,917 | ▲ 102% |
| Tangible fixed assets22/27 | €22,115 | €17,199 | €12,283 | €7,367 | €14,917 | ▲ 102% |
| Furniture and vehicles24 | €22,115 | €17,199 | €12,283 | €7,367 | €14,917 | ▲ 102% |
| Current assets29/58 | €30,456 | €40,073 | €40,362 | €33,511 | €25,880 | ▼ 22.8% |
| Amounts receivable within one year40/41 | €10,555 | €19,224 | €29,231 | €22,204 | €13,134 | ▼ 40.8% |
| Trade receivables40 | €10,000 | €18,800 | €28,210 | €20,907 | €13,134 | ▼ 37.2% |
| Other amounts receivable41 | €555 | €424 | €1,021 | €1,297 | - | - |
| Cash at bank and in hand54/58 | €18,354 | €20,849 | €10,944 | €11,274 | €12,070 | ▲ 7.1% |
| Deferred charges and accrued income490/1 | €1,547 | - | €187 | €33 | €676 | ▲ 1,947% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €52,572 | €57,272 | €52,645 | €40,878 | €40,797 | ▼ 0.2% |
| Equity10/15 | €25,796 | €34,162 | €39,153 | €32,244 | €33,620 | ▲ 4.3% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | = |
| Capital10 | €6,200 | - | - | - | - | - |
| Issued capital100 | €18,600 | - | - | - | - | - |
| Uncalled capital101 | €12,400 | - | - | - | - | - |
| Revaluation surpluses12 | - | - | €6,200 | - | - | - |
| Reserves13 | €659 | €659 | €659 | €659 | €659 | = |
| Non-distributable reserves130/1 | €659 | €659 | €659 | €659 | €659 | = |
| Legal reserve130 | €659 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | €659 | €659 | €659 | €659 | = |
| Profit (loss) carried forward14 | €18,937 | €27,303 | €32,294 | €25,385 | €26,761 | ▲ 5.4% |
| Amounts payable17/49 | €26,775 | €23,110 | €13,492 | €8,634 | €7,176 | ▼ 16.9% |
| Amounts payable after more than one year17 | €18,884 | €10,416 | €6,192 | €1,843 | - | - |
| Financial debts170/4 | €18,884 | €10,416 | €6,192 | €1,843 | - | - |
| Amounts payable within one year42/48 | €6,344 | €12,694 | €7,300 | €6,791 | €7,176 | ▲ 5.7% |
| Current portion of amounts payable after more than one year42 | - | €4,482 | €4,224 | €4,349 | €1,843 | ▼ 57.6% |
| Trade debts44 | €1,618 | €1,030 | €1,650 | €1,307 | €1,726 | ▲ 32.1% |
| Suppliers440/4 | €1,618 | €1,030 | €1,650 | €1,307 | €1,726 | ▲ 32.1% |
| Taxes, remuneration and social security45 | €4,726 | €7,182 | €1,426 | €1,135 | €625 | ▼ 44.9% |
| Taxes450/3 | €1,726 | €2,182 | €1,426 | €1,135 | €625 | ▼ 44.9% |
| Remuneration and social security454/9 | €3,000 | €5,000 | - | - | - | - |
| Other amounts payable47/48 | - | - | - | - | €2,982 | - |
| Accrued charges and deferred income492/3 | €1,547 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,417 | €8,366 | €4,991 | €3,938 | €1,377 | ▼ 65.0% |
| + Depreciation and write-downs630 | €2,923 | €4,916 | €4,916 | €4,916 | €6,450 | ▲ 31.2% |
| Operating cash flow (approximation) | €9,340 | €13,282 | €9,907 | €8,854 | €7,827 | ▼ 11.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€14,000 | - |
| Change in cash | - | €2,495 | -€9,905 | €330 | €796 | ▲ 141% |
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
26-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Weakest financial yearnet €1,377 ▼65%
Net result drops to €1,377, the lowest in the series.
06-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
24-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
21-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
05-03
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 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, Anderlecht · 1 establishment unit since 2019
Ground area
741 m²
Building footprint
311 m²
Volume, LiDAR
3,683 m³
Parcel 21001A0406/00E002, Brussels · tallest building 15.3 m, ±4 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
VADAS
since 20192.358.526.591
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21001A0406/00E002 | Brussels | 741 m² | 1 · 311 m² | 15.2 m · 4 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 369 companies in sector 43421 we hold annual accounts for 205. 166 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
Founded07-03-2019
Fiscal year end30-09
Activities, NACEBEL 2025
43421Specialised construction activities
43222Installation of electric heating, air conditioning, cooling and ventilation
43331Floor and wall tiling
43410Roofing work
43422Screed work
81220Other building cleaning and industrial cleaning
E-invoicing
Reachable via Peppol
Peppol ID
0208:0721986341
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.