VADEC
ActiveSummary
VADEC has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show negative equity (-€189,820) and a net result of -€67,984. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 242 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2026
Axes · tick = 2025
Profitability0=
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.8 against 0.92 in 2025; short-term debt: 123.9% and cash: 1.2% of total assets), and equity is negative.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2026Solvency, return and age of the figures
Solvency
-45.1%
Return on assets
-16.2%
Age of the figures
8 mo
raises risk · Negative equity
The 2026 annual accounts show negative equity and a net loss.
NBB · annual accounts 2026Equity per financial year
1920212223242526
2019 to 2026 · latest year -€189,820
neutral · Latest accounts filed on time
The financial year that closed on 31-01-2026 was due by 31-08-2026 and was filed on 12-08-2026, 19 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
19 d early
2025
31 d early
2024
37 d early
2023
51 d early
2022
49 d early
2021
39 d early
2020
34 d early
← 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 37 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-01-2027 and is due by 31-08-2027. Nothing is late today. Usually files around 26 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-01-2027 close31-08-2027 deadline
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 What other support did companies like this one receive, and it did not?Public money How does this company compare with its sector?Sector benchmark
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2026, abbreviated schema
Equity
-€189,820▼ 55.8%
2025 · -€121,836
Total assets
€420,678▼ 1.3%
2025 · €426,071
Net result
-€67,984▲ 10.6%
2025 · -€76,066
Working capital
-€102,985▼ 183%
2025 · -€36,366
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Line20222023202420252026
Operating result-€7,932-€19,863▼ 150%-€41,429▼ 109%-€72,676▼ 75.4%-€72,408▲ 0.4%
Net result-€9,835below the sector's middle half-€19,301below the sector's middle half▼ 96.2%-€42,610below the sector's middle half▼ 121%-€76,066below the sector's middle half▼ 78.5%-€67,984▲ 10.6%
Equity€16,142within the sector's middle half▼ 37.9%-€3,159below the sector's middle half-€45,770below the sector's middle half▼ 1,349%-€121,836below the sector's middle half▼ 166%-€189,820▼ 55.8%
Total assets€391,544above the sector's middle half▼ 4.0%€395,065above the sector's middle half▲ 0.9%€418,119above the sector's middle half▲ 5.8%€426,071above the sector's middle half▲ 1.9%€420,678▼ 1.3%
Debt€375,402▼ 1.7%€398,225▲ 6.1%€463,889▲ 16.5%€547,906▲ 18.1%€610,498▲ 11.4%
Working capital€101,815above the sector's middle half▼ 8.9%€84,130above the sector's middle half▼ 17.4%€42,105within the sector's middle half▼ 50.0%-€36,366below the sector's middle half-€102,985▼ 183%
Solvency4.1%below the sector's middle half▼ 2.2pp-0.8%below the sector's middle half▼ 4.9pp-10.9%below the sector's middle half▼ 10.1pp-28.6%below the sector's middle half▼ 17.6pp-45.1%▼ 16.5pp
Current ratio1.36within the sector's middle half▼ 0.031.28within the sector's middle half▼ 0.081.11within the sector's middle half▼ 0.160.92within the sector's middle half▼ 0.190.80▼ 0.12
Return on assets (ROA)-2.5%within the sector's middle half▼ 4.8pp-4.9%below the sector's middle half▼ 2.4pp-10.2%below the sector's middle half▼ 5.3pp-17.9%below the sector's middle half▼ 7.7pp-16.2%▲ 1.7pp
Staff (FTE)1.3▼ 13.3%2.11.8▼ 14.3%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €72,408 in 2026 against €72,676 in 2025; the loss shrinks.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €420,678
Fixed assets
€2,496 ▼ 33.8%
Current assets
€418,183 ▼ 1.0%
Key figures and ratios
EBITDA
-€71,131▲
2025 · -€71,334
Cash flow
-€66,708▲
2025 · -€74,723
Quick ratio
0.02▲
2025 · 0.02
Debt to equity
-3.22▲
2025 · -4.50
Interest coverage
-99.54▼
2025 · -9.43
Debt ≤ 1 year
€521,167▲
2025 · €458,665
Debt > 1 year
€89,242=
2025 · €89,242
Staff costs
€83,963▼
2025 · €85,527
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,639 companies that looked in July 2024 the way this one looks now, 4.1% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
4.1%
went bankrupt
9.8%
stopped otherwise
84%
still going
A further 2.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.6% 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 6,639 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 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €47,365 | €66,627 | €64,703 | €85,527 | €83,963 | ▼ 1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,701 | €1,616 | €1,679 | €1,342 | €1,277 | ▼ 4.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | -€4,570 | -€46 | €1,312 | ▲ 2,928% |
| Other operating charges640/8 | €1,507 | €1,303 | €1,650 | €1,406 | €1,886 | ▲ 34.1% |
| Gross operating margin9900 | €42,642 | €49,682 | €22,032 | €15,553 | €16,030 | ▲ 3.1% |
| Operating profit (loss)9901 | -€7,932 | -€19,863 | -€41,429 | -€72,676 | -€72,408 | ▲ 0.4% |
| Financial income75/76B | €4,362 | €6,560 | €5,600 | €4,176 | €5,138 | ▲ 23.0% |
| Recurring financial income75 | €4,362 | €6,560 | €5,600 | €4,176 | €5,138 | ▲ 23.0% |
| Financial charges65/66B | €6,265 | €5,998 | €6,781 | €7,565 | €715 | ▼ 90.6% |
| Recurring financial charges65 | €6,265 | €5,998 | €6,781 | €7,565 | €715 | ▼ 90.6% |
| Profit (loss) for the period before taxes9903 | -€9,835 | -€19,301 | -€42,610 | -€76,066 | -€67,984 | ▲ 10.6% |
| Profit (loss) for the period9904 | -€9,835 | -€19,301 | -€42,610 | -€76,066 | -€67,984 | ▲ 10.6% |
| Profit (loss) for the period to be appropriated9905 | -€9,835 | -€19,301 | -€42,610 | -€76,066 | -€67,984 | ▲ 10.6% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €391,544 | €395,065 | €418,119 | €426,071 | €420,678 | ▼ 1.3% |
| Fixed assets21/28 | €7,316 | €5,700 | €5,115 | €3,772 | €2,496 | ▼ 33.8% |
| Tangible fixed assets22/27 | €7,316 | €5,700 | €5,115 | €3,772 | €2,496 | ▼ 33.8% |
| Plant, machinery and equipment23 | €3,204 | €2,385 | €1,566 | €1,253 | €940 | ▼ 25.0% |
| Furniture and vehicles24 | - | - | €1,030 | €666 | €302 | ▼ 54.7% |
| Other tangible fixed assets26 | €4,113 | €3,315 | €2,518 | €1,853 | €1,254 | ▼ 32.3% |
| Current assets29/58 | €384,228 | €389,365 | €413,004 | €422,298 | €418,183 | ▼ 1.0% |
| Stocks and contracts in progress3 | €359,562 | €382,842 | €400,641 | €414,368 | €409,067 | ▼ 1.3% |
| Stocks30/36 | €359,562 | €382,842 | €400,641 | €414,368 | €409,067 | ▼ 1.3% |
| Amounts receivable within one year40/41 | - | - | €1,173 | €0 | €926 | - |
| Trade receivables40 | - | - | €43 | €0 | €863 | - |
| Other amounts receivable41 | - | - | €1,130 | €0 | €63 | - |
| Cash at bank and in hand54/58 | €21,674 | €3,652 | €7,791 | €4,478 | €5,071 | ▲ 13.2% |
| Deferred charges and accrued income490/1 | €2,992 | €2,871 | €3,399 | €3,452 | €3,118 | ▼ 9.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €391,544 | €395,065 | €418,119 | €426,071 | €420,678 | ▼ 1.3% |
| Equity10/15 | €16,142 | -€3,159 | -€45,770 | -€121,836 | -€189,820 | ▼ 55.8% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Profit (loss) carried forward14 | -€52,058 | -€71,359 | -€113,970 | -€190,036 | -€258,020 | ▼ 35.8% |
| Amounts payable17/49 | €375,402 | €398,225 | €463,889 | €547,906 | €610,498 | ▲ 11.4% |
| Amounts payable after more than one year17 | €89,242 | €89,242 | €89,242 | €89,242 | €89,242 | = |
| Financial debts170/4 | €89,242 | €89,242 | €89,242 | €89,242 | €89,242 | = |
| Amounts payable within one year42/48 | €282,412 | €305,235 | €370,899 | €458,665 | €521,167 | ▲ 13.6% |
| Trade debts44 | €11,066 | €10,277 | €20,716 | €22,775 | €19,020 | ▼ 16.5% |
| Suppliers440/4 | €11,066 | €10,277 | €20,716 | €22,775 | €19,020 | ▼ 16.5% |
| Advances received on contracts in progress46 | - | €200 | €0 | - | - | - |
| Taxes, remuneration and social security45 | €10,954 | €10,407 | €9,476 | €11,543 | €13,012 | ▲ 12.7% |
| Taxes450/3 | €6,725 | €2,800 | €3,614 | €2,033 | €3,096 | ▲ 52.3% |
| Remuneration and social security454/9 | €4,230 | €7,607 | €5,862 | €9,509 | €9,917 | ▲ 4.3% |
| Other amounts payable47/48 | €260,392 | €284,351 | €340,707 | €424,347 | €489,135 | ▲ 15.3% |
| Accrued charges and deferred income492/3 | €3,748 | €3,748 | €3,748 | €0 | €89 | - |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€9,835 | -€19,301 | -€42,610 | -€76,066 | -€67,984 | ▲ 10.6% |
| + Depreciation and write-downs630 | €1,701 | €1,616 | €1,679 | €1,342 | €1,277 | ▼ 4.9% |
| Operating cash flow (approximation) | -€8,135 | -€17,686 | -€40,931 | -€74,723 | -€66,708 | ▲ 10.7% |
| Investment in fixed assets (approximation) | - | €0 | -€1,093 | €0 | €0 | - |
| Change in cash | - | -€18,022 | €4,139 | -€3,313 | €593 | ▲ 118% |
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 2027, expected by
2026
12-08
NBB filing
Annual accounts filed
fiscal year 2026 · abbreviated schema
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-01
Financial
Weakest financial yearnet -€76,066
Net result drops to -€76,066, the lowest in the series; recovery starts the following year.
2024
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
13-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
23-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
31-01
Financial
Back to profitnet €9,446
Net result €9,446 after 2 loss-making years.
2020
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
15-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
19-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
6 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, Halle · 1 establishment unit since 1986
Ground area
287 m²
Building footprint
255 m²
Volume, LiDAR
2,660 m³
Parcel 23027G0120/00F000, Flanders · tallest building 15.3 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
CHRISTIAENSEN
since 19862.036.938.434
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23027G0120/00F000 | Flanders | 287 m² | 1 · 255 m² | 15.3 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 930 EUR awarded · 930 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 270 EUR | 270 EUR |
| 2024 | 1 | 240 EUR | 240 EUR |
| 2023 | 1 | 240 EUR | 240 EUR |
| 2022 | 1 | 180 EUR | 180 EUR |
Similar companies · same sector, comparable size
Don Domino
BE 0770.394.487
Brecht · Eq €15,977
TMT EVENTS & SERVICES
BE 0475.090.360
Grâce-Hollogne · Eq €16,398
STABLEGEAR
BE 0460.402.976
Elsene · Eq €16,459
REWILD OUTFIT
BE 0797.205.188
Waremme · Eq €16,526
SPORTS DISTRIBUTION
BE 0634.928.346
Trooz · Eq €16,639
Of 2,103 companies in sector 47640 we hold annual accounts for 907. 511 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded30-05-1986
Fiscal year end31-01
Activities, NACEBEL 2025
47640Retail sale of games and toys
E-invoicing
Reachable via Peppol
Peppol ID
0208:0428940532
Registered
26-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.