Summary
VADE is a financial institution. The bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2026 annual accounts show equity of €261,641 and a net result of €15,420. Equity has been shrinking by about 5.5% per year since 2019. Its solvency ranks better than 24% of 396 sector peers (NACE 64, financial year 2026). The company has been active since 2017 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 19-04-2017 Normal situation
- Activity
- Activities of holding companies NACE 64210
- Establishment unit
- 2.265.293.161 8870 Izegem, since 05-05-2017
- Financial year end
- 31 March
- Peppol
- Not found in the Peppol Directory
Financial position
Financial institution: outside the modelBankruptcy probability: sector outside the model
Annual accounts to 31-03-2026
- Profit
- €15,420
- ▲ 53.8%
- Equity
- €261,641
- ▲ 6.3%
- Total assets
- €1.0m
- ▼ 3.6%
Signalsraises riskWeak solvency compared with the sectorlowers riskGrowing equityneutralLatest accounts filed on timeShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score measures liquidity, leverage and margins against the norms for trading and manufacturing companies. A bank, insurer or financial holding has a very different balance sheet. Those ratios and the score mean nothing here. So there is no financial strength either.
Bankruptcy probability within 12 months
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Three signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 396 sector peers (2026).
NBB · sector comparisonPosition among 396 sector peers
Solvency
better than 24%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2024 and did not fall compared with 2025. These amounts do not establish the cause of the change.
NBB · annual accounts 2026Equity per financial year
1920212223242526
2019 to 2026 · latest year €261,641
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 27-10-2026, 4 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2026
4 days early
2025
15 days early
2024
29 days early
2023
7 days early
2022
6 days early
2021
4 days early
2020
29 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 13 days before the deadline. In the sector (NACE 64), the median for financial year 2024 was 14 days before the deadline, and 28% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today. The company usually files around 24 October (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
02-11-2026 today31-03-2027 year end31-10-2027 deadline
Financials
Financials · financial year 2026, micro format
Annual accounts 2026 filed on 27-10-2026 at the NBB all 9 filings
Equity
€261,641▲ 6.3%
2025 · €246,221
Net result
€15,420▲ 53.8%
2025 · €10,025
Total assets
€1.0m▼ 3.6%
2025 · €1.0m
Solvency
26.0%▲ 2.4pp
2025 · 23.6%
Trend over the years
2022 to 2026, 5 financial years 2019 to 2026, 8 financial years
The operating result for 2026 is 32% higher than in 2025 and the highest since 2022. It is the fourth rise in a row.
Operating result€0.02m
2026
Net result€0.02m
2026
Total assets€1.0m
2026
Equity€0.3m
2026
Debt€0.7m
2026
Working capital-€0.5m
2026
Return on assets (ROA)1.5%
2026
Solvency26.0%
2026
Current ratio0.17
2026
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result-€0.03m--€0.02m▲ 39.7%-€0.02m▼ 13.9%-€0.02m▼ 15.7%-€0.02m▲ 8.0%€0.007m€0.01m▲ 128%€0.02m▲ 32.1%
Net result-€0.04m--€0.03m▲ 32.5%-€0.03mbelow the sector's middle half▼ 7.4%-€0.03mbelow the sector's middle half▼ 9.6%-€0.03mbelow the sector's middle half▲ 8.1%€0.001mbelow the sector's middle half€0.01mwithin the sector's middle half▲ 854%€0.02m▲ 53.8%
Equity€0.3m-€0.3m▼ 7.5%€0.3mwithin the sector's middle half▼ 8.7%€0.3mwithin the sector's middle half▼ 10.5%€0.2mwithin the sector's middle half▼ 10.7%€0.2mwithin the sector's middle half▲ 0.4%€0.2mwithin the sector's middle half▲ 4.2%€0.3m▲ 6.3%
Total assets€1.4m-€1.3m▼ 4.6%€1.2mabove the sector's middle half▼ 9.1%€1.2mabove the sector's middle half▼ 3.6%€1.1mabove the sector's middle half▼ 5.5%€1.1mabove the sector's middle half▼ 2.5%€1.0mabove the sector's middle half▼ 3.6%€1.0m▼ 3.6%
Debt€1.1m-€1.0m▼ 3.6%€0.9m▼ 9.2%€0.9m▼ 1.4%€0.9m▼ 3.9%€0.8m▼ 3.3%€0.8m▼ 5.7%€0.7m▼ 6.7%
Working capital-€0.5m--€0.6m▼ 6.5%-€0.6mbelow the sector's middle half▲ 0.2%-€0.5mbelow the sector's middle half▲ 1.6%-€0.5mbelow the sector's middle half▲ 0.8%-€0.5mbelow the sector's middle half▲ 4.8%-€0.5mbelow the sector's middle half▲ 6.4%-€0.5m▲ 5.3%
Solvency24.8%-24.1%▼ 0.8pp24.2%within the sector's middle half▲ 0.1pp22.4%below the sector's middle half▼ 1.7pp21.2%below the sector's middle half▼ 1.3pp21.8%below the sector's middle half▲ 0.6pp23.6%within the sector's middle half▲ 1.8pp26.0%▲ 2.4pp
Current ratio0.18-0.12▼ 0.060.03below the sector's middle half▼ 0.090.07below the sector's middle half▲ 0.040.07below the sector's middle half=0.12below the sector's middle half▲ 0.050.16below the sector's middle half▲ 0.030.17▲ 0.02
Return on assets (ROA)-2.8%--2.0%▲ 0.8pp-2.3%below the sector's middle half▼ 0.4pp-2.6%below the sector's middle half▼ 0.3pp-2.5%below the sector's middle half▲ 0.1pp0.1%below the sector's middle half▲ 2.6pp1.0%below the sector's middle half▲ 0.9pp1.5%▲ 0.6pp
above
within
below
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €1.0m
Fixed assets
€911,952 ▼ 4.5%
Current assets
€94,162 ▲ 6.2%
Equity and liabilities €1.0m
Equity
€261,641 ▲ 6.3%
Debt
€744,473 ▼ 6.7%
Debt's share of the balance-sheet total falls from 76.4% to 74.0%. Equity is higher and debt is lower.
Key figures and ratios
ROE
5.9%▲
2025 · 4.1%
Debt ≤ 1 year
€547,852▼
2025 · €567,852
Debt > 1 year
€188,889▼
2025 · €222,222
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | - | €9,872 |
| Depreciation and write-downs of the year | €67,969 | €65,787 | €56,710 | €54,994 | €53,136 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €71,611 | €72,020 | €70,612 | €67,969 | €65,787 | €56,710 | €54,994 | €53,136 | ▼ 3.4% |
| Other operating charges640/8 | - | - | - | €5,658 | €5,839 | €7,756 | €6,602 | €6,799 | ▲ 3.0% |
| Gross operating margin9900 | €41,799 | €58,592 | €55,441 | €49,568 | €49,503 | €71,031 | €76,583 | €79,737 | ▲ 4.1% |
| Operating profit (loss)9901 | -€30,279 | -€18,258 | -€20,793 | -€24,058 | -€22,122 | €6,565 | €14,986 | €19,802 | ▲ 32.1% |
| Financial charges65/66B | - | - | - | €6,716 | €6,154 | €5,514 | €4,961 | €4,382 | ▼ 11.7% |
| Recurring financial charges65 | €8,458 | €7,892 | €7,290 | €6,716 | €6,154 | €5,514 | €4,961 | €4,382 | ▼ 11.7% |
| Profit (loss) for the period before taxes9903 | -€38,737 | -€26,150 | -€28,083 | -€30,774 | -€28,277 | €1,050 | €10,025 | €15,420 | ▲ 53.8% |
| Profit (loss) for the period9904 | -€38,737 | -€26,150 | -€28,083 | -€30,774 | -€28,277 | €1,050 | €10,025 | €15,420 | ▲ 53.8% |
| Profit (loss) for the period to be appropriated9905 | -€38,737 | -€26,150 | -€28,083 | -€30,774 | -€28,277 | €1,050 | €10,025 | €15,420 | ▲ 53.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.4m | €1.3m | €1.2m | €1.2m | €1.1m | €1.1m | €1.0m | €1.0m | ▼ 3.6% |
| Fixed assets21/28 | €1.3m | €1.3m | €1.2m | €1.1m | €1.1m | €1.0m | €1.0m | €0.9m | ▼ 4.5% |
| Tangible fixed assets22/27 | €1.3m | €1.3m | €1.2m | €1.1m | €1.1m | €1.0m | €1.0m | €0.9m | ▼ 4.5% |
| Land and buildings22 | - | - | - | €1.1m | €1.1m | €1.0m | €0.9m | €0.9m | ▼ 4.2% |
| Plant, machinery and equipment23 | - | - | - | €0.008m | €0.007m | €0.005m | €0.004m | €0.002m | ▼ 42.8% |
| Furniture and vehicles24 | - | - | - | €0.007m | €0.006m | €0.004m | €0.002m | €175 | ▼ 91.2% |
| Current assets29/58 | €0.1m | €0.08m | €0.02m | €0.04m | €0.04m | €0.07m | €0.09m | €0.09m | ▲ 6.2% |
| Amounts receivable within one year40/41 | €0.005m | €179 | €381 | €299 | €420 | €0.001m | €0.01m | €0.02m | ▲ 41.8% |
| Other amounts receivable41 | - | - | - | €299 | €420 | €0.001m | €0.01m | €0.02m | ▲ 41.8% |
| Cash at bank and in hand54/58 | €0.1m | €0.07m | €0.02m | €0.04m | €0.04m | €0.06m | €0.07m | €0.07m | ▲ 0.1% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €0.009m | €0.001m | €0.001m | ▲ 2.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.4m | €1.3m | €1.2m | €1.2m | €1.1m | €1.1m | €1.0m | €1.0m | ▼ 3.6% |
| Equity10/15 | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | €0.2m | €0.3m | ▲ 6.3% |
| Contributions10/11 | €0.07m | - | - | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Reserves13 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Non-distributable reserves130/1 | - | - | - | €0.007m | €0.007m | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.007m | €0.007m | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Profit (loss) carried forward14 | -€0.01m | -€0.04m | -€0.06m | -€0.1m | -€0.1m | -€0.1m | -€0.1m | -€0.1m | ▲ 13.7% |
| Amounts payable17/49 | €1.1m | €1.0m | €0.9m | €0.9m | €0.9m | €0.8m | €0.8m | €0.7m | ▼ 6.7% |
| Amounts payable after more than one year17 | €0.4m | €0.4m | €0.4m | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | ▼ 15.0% |
| Financial debts170/4 | - | - | - | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | ▼ 15.0% |
| Amounts payable within one year42/48 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.5m | ▼ 3.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Trade debts44 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | - | - |
| Suppliers440/4 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | - | - |
| Other amounts payable47/48 | - | - | - | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Accrued charges and deferred income492/3 | - | - | - | €0.005m | €0.005m | €0.006m | €0.008m | €0.008m | ▲ 2.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€38,737 | -€26,150 | -€28,083 | -€30,774 | -€28,277 | €1,050 | €10,025 | €15,420 | ▲ 53.8% |
| + Depreciation and write-downs630 | €71,611 | €72,020 | €70,612 | €67,969 | €65,787 | €56,710 | €54,994 | €53,136 | ▼ 3.4% |
| Operating cash flow (approximation) | €32,874 | €45,869 | €42,529 | €37,194 | €37,510 | €57,761 | €65,020 | €68,557 | ▲ 5.4% |
| Investment in fixed assets (approximation) | - | -€46,171 | -€7,953 | €0 | €0 | €0 | €0 | -€9,872 | - |
| Change in cash | - | -€38,307 | -€53,736 | €24,672 | €1,574 | €19,713 | €11,364 | €43 | ▼ 99.6% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 27-10-2026 | 2026-00569680 | |
| 31-03-2025 | micro format | 16-10-2025 | 2025-00544806 | |
| 31-03-2024 | micro format | 02-10-2024 | 2024-00500350 | |
| 31-03-2023 | micro format | 24-10-2023 | 2023-00490863 | |
| 31-03-2022 | micro format | 25-10-2022 | 2022-20471903 | |
| 31-03-2021 | micro format | 27-10-2021 | 2021-73600031 | |
| 31-03-2020 | micro format | 02-10-2020 | 2020-58300003 | |
| 31-03-2019 | micro format | 29-10-2019 | 2019-71700599 | |
| 31-03-2018 | micro format | 30-10-2018 | 2018-70700536 |
Board & ownership
Directors
Directors
1 director, last change in 2023
Rik VANDENABEELE
Current
Director (not named in the articles) · appointed in the act of 17-05-2023 · earlier manager, until 17-05-2023 · term without a fixed end · listed in the 2026 annual accounts, filed on 27-10-2026
Owners and capital
Capital transactions
Capital over time
- 17-05-2023 Converted to unavailable equity
Mandate history
1 person, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Rik VANDENABEELE |
|
Network & group
VADE shares no director with another company.
Companies at the same address
2 other companiesConnections & network
1 current directorThe network starts from the directors of VADE. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2027 accounts:
2026
27-10
micro format · 4 days before the deadline
31-03
Financial
Highest result from 2019 to 2026net €15,420 ▲53.8%
The operating result of €19,802 and the net result of €15,420 are both a record.
2025
16-10
micro format · 15 days before the deadline
2024
02-10
micro format · 29 days before the deadline
31-03
Financial
Back to profitnet €1,050
The net result is €1,050, after 5 loss-making years.
2023
24-10
micro format · 7 days before the deadline
17-05
Gazette deed
Change of role: Rik VANDENABEELE, from manager to directorAmendment of the articles · Capital conversion · Director discharge12 points ▸
Gazette deed
Change of role: Rik VANDENABEELE, from manager to director
Amendment of the articles · Capital conversion · Director discharge12 points ▸
- General meeting, 08-05-2023
- Amendment of the articles, mentioned 3 times in the deed
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Other provision, “website en email op KBO” (deed in Dutch)
- Director resignation, Rik VANDENABEELE (manager)
- Director appointment, Rik VANDENABEELE (director (not named in the articles))
- Board composition, Rik VANDENABEELE (director)
- Other provision, “aanvaarding mandaat en afwezigheid verbodsbepaling” (deed in Dutch)
- Director discharge, Rik VANDENABEELE
- Capital
- Other provision, “stortingsplicht” (deed in Dutch)
- Approval, “gecoördineerde tekst statuten” (deed in Dutch)
2022
25-10
micro format · 6 days before the deadline
2021
27-10
micro format · 4 days before the deadline
2020
02-10
micro format · 29 days before the deadline
2019
29-10
micro format · 2 days before the deadline
2018
30-10
micro format · 1 day before the deadline
2017
16-05
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
VADE in Dutch
Enterprise number
0675.480.680
Legal form
Private limited company
Status
Active, normale toestand
Founded
19-04-2017
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 17-05-2023 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
Registered office and establishments
Registered office
Lodewijk de Raetlaan 3, 8870 Izegem, Belgium
Establishment unit
Vade, Lodewijk de Raetlaan 3, 8870 Izegem since 05-05-2017 · unit number 2.265.293.16166300 Activities auxiliary to financial services and insurance activities
Activities
NACEBEL 202564210
Activities of holding companies main activity
Codes under NACEBEL 2008
64200
Holdings main activity
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 17-05-2023 (in Dutch)
“1.het aanleggen,het oordeelkundig uitbouwen en beheren van een onroerend vermogen:alle verrichtingen met betrekking tot onroerende goederen…”
6 activities
- 1.het aanleggen,het oordeelkundig uitbouwen en beheren van een onroerend vermogen:alle verrichtingen met betrekking tot onroerende goederen en onroerende zakelijke rechten(vruchtgebruik,recht van opstal,erfpacht,…),zoals de huurfinanciering van onroerende goederen aan derden,het aankopen,verkopen,ruilen,bouwen,verbouwen,onderhouden,verhuren,huren,verkavelen,prospecteren en uitbaten van onroerende goederen,het ontwerpen en opvolgen van projecten,en het maken van studies met betrekking tot immobiliën,de aan-en verkoop,huur en verhuur van roerende goederen betreffende de inrichting en uitrusting van onroerende goederen,alsmede alle handelingen die rechtstreeks of onrechtstreeks met dit voorwerp in verband staan en die van aard zijn de opbrengst van de onroerende goederen te bevorderen;alsmede zich borg stellen voor het goede verloop van verbintenissen,door derde personen aangegaan,die het genot zouden hebben van voormelde roerende en onroerende goederen;
- 2.het aanleggen,het oordeelkundig uitbouwen en beheren van een roerend vermogen:alle verrichtingen met betrekking tot roerende goederen en rechten,van welke aard ook,zoals het verwerven door inschrijving of aankoop,het beheren van aandelen,aandelenopties,obligaties,kasbons,afgeleide producten of andere roerende waarden,van welke vorm ook,uitgegeven door Belgische of buitenlandse emittenten;
- 3.het beheren van vennootschappen in de ruimste zin van het woord,welk voorwerp deze vennootschappen ook mochten hebben,het deelnemen in en het directievoeren over ondernemingen en vennootschappen,alsook het uitoefenen van de functie van bestuurder of analoge functies in vennootschappen en andere rechtspersonen;
- 4.het bevorderen van de oprichting van vennootschappen door inbreng,participatie of investering en deelname onder de vorm van aandelen of obligatieleningen in diverse vennootschappen;
- 5.het verlenen van assistentie op gebied van management,engineering en consulting alsook technisch,commercieel,administratief en financieel beheer en advies;
- 6.het toestaan van leningen en kredietopeningen aan rechtspersonen en ondernemingen of particulieren,in eender welke vorm;het zich borg stellen of aval verlenen,in de meest ruime zin;alle handelsoperaties en financiële operaties verrichten,behalve deze die wettelijk voorbehouden zijn aan depositobanken,houders van deposito’s op korte termijn,spaarkassen,hypotheekmaatschappijen en kapitalisatieondernemingen.
Invoicing and payment
VAT number
BE 0675.480.680
Financial year and general meeting
Accounts at the NBBFinancial year end
31-03
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Second Saturday of September at 10:00
deed of 17-05-2023 (in Dutch)Sites & property
Location
Buildings and parcels at the address
Ground area
4,833 m²
Building footprint
2,334 m²
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 36492A1575/00A000 | Flanders | 4,833 m² | 1 · 2,334 m² | - |