VADECO
ActiveSummary
VADECO has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €674k and a net result of €191k. Equity is growing by ~8.7% per year across the filed fiscal years. Its solvency ranks better than 95% of 7058 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+6
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €65k at 30 days acceptable
Liquidity ample (current ratio 17.48 against 6.82 in 2024; short-term debt: 2.9% and cash: 40.3% of total assets), and 3.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers 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
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
96.1%
Return on assets
27.2%
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 19-03-2026, 42 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
42 d early
2024
29 d early
2023
32 d early
2022
3 d early
2021
4 d early
2020
15 d early
2019
92 d early
← before the deadline
after the deadline →
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
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€674k▲ 39.5%
2024 · €483k
2018: €296klowest in 8 years
2019: €297k▲ +0.4% vs 2018
2020: €376k▲ +26.6% vs 2019
2021: €362k▼ -3.6% vs 2020
2022: €361k▼ -0.5% vs 2021
2023: €377k▲ +4.6% vs 2022
2024: €483k▲ +28.0% vs 2023
2025: €674k▲ +39.5% vs 2024highest in 8 years
2018 → 2025
Total assets
€701k▲ 35.9%
2024 · €516k
2018: €449k
2019: €448k▼ -0.1% vs 2018lowest in 8 years
2020: €450k▲ +0.4% vs 2019
2021: €491k▲ +9.0% vs 2020
2022: €450k▼ -8.3% vs 2021
2023: €467k▲ +3.8% vs 2022
2024: €516k▲ +10.4% vs 2023
2025: €701k▲ +35.9% vs 2024highest in 8 years
2018 → 2025
Net result
€191k▲ 80.7%
2024 · €106k
2018: €78k
2019: €81k▲ +3.9% vs 2018
2020: €79k▼ -2.9% vs 2019
2021: €86k▲ +9.5% vs 2020
2022: €68k▼ -20.9% vs 2021lowest in 8 years
2023: €75k▲ +9.1% vs 2022
2024: €106k▲ +41.6% vs 2023
2025: €191k▲ +80.7% vs 2024highest in 8 years
2018 → 2025
Working capital
€332k▲ 134%
2024 · €142k
2018: €24k
2019: €11k▼ -54.7% vs 2018
2020: €91k▲ +758% vs 2019
2021: €1k▼ -98.5% vs 2020lowest in 8 years
2022: €8k▲ +477% vs 2021
2023: €36k▲ +342% vs 2022
2024: €142k▲ +296% vs 2023
2025: €332k▲ +134% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€362k-€361k▼ 0.5%€377k▲ 4.6%€483k▲ 28.0%€674k▲ 39.5%
2021: €362k
2022: €361k▼ -0.5% vs 2021lowest in 5 years
2023: €377k▲ +4.6% vs 2022
2024: €483k▲ +28.0% vs 2023
2025: €674k▲ +39.5% vs 2024highest in 5 years
Operating result€122k-€81k▼ 33.1%€113k▲ 39.1%€160k▲ 41.2%€283k▲ 77.3%
2021: €122k
2022: €81k▼ -33.1% vs 2021lowest in 5 years
2023: €113k▲ +39.1% vs 2022
2024: €160k▲ +41.2% vs 2023
2025: €283k▲ +77.3% vs 2024highest in 5 years
Net result€86k-€68k▼ 20.9%€75k▲ 9.1%€106k▲ 41.6%€191k▲ 80.7%
2021: €86k
2022: €68k▼ -20.9% vs 2021lowest in 5 years
2023: €75k▲ +9.1% vs 2022
2024: €106k▲ +41.6% vs 2023
2025: €191k▲ +80.7% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 77% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €701k
Fixed assets
€349k ▼ 0.3%
Current assets
€353k ▲ 112%
Equity and liabilities €701k
Equity
€674k ▲ 39.5%
Debt
€28k ▼ 16.6%
Debt's share of the balance-sheet total falls from 6.4% to 3.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€286k▲
2024 · €162k
Cash flow
€193k▲
2024 · €108k
Current ratio
17.48▲
2024 · 6.82
Debt to equity
0.04▼
2024 · 0.07
ROE
28.3%▲
2024 · 21.9%
ROA
27.2%▲
2024 · 20.5%
Interest coverage
691.79▲
2024 · 635.89
Debt ≤ 1 year
€20k▼
2024 · €24k
Income taxes
€92k▲
2024 · €54k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 45 lines
Balance sheet
Code20242025
Assets
Total assets20/58€516k€701k▲
Fixed assets21/28€350k€349k▼
Tangible fixed assets22/27€3k€2k▼
Furniture and vehicles24€3k€2k▼
Financial fixed assets28€346k€346k=
Current assets29/58€166k€353k▲
Amounts receivable within one year40/41€20k€70k▲
Trade receivables40€20k€62k▲
Other amounts receivable41-€8k
Cash at bank and in hand54/58€145k€282k▲
Deferred charges and accrued income490/1€767€603▼
Equity and liabilities
Total equity and liabilities10/49€516k€701k▲
Equity10/15€483k€674k▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€420k€611k▲
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Distributable reserves133€414k€605k▲
Profit (loss) carried forward14€639€639=
Amounts payable17/49€33k€28k▼
Amounts payable within one year42/48€24k€20k▼
Trade debts44€7k€4k▼
Suppliers440/4€7k€4k▼
Taxes, remuneration and social security45€18k€16k▼
Taxes450/3€18k€16k▼
Other amounts payable47/48€0-
Accrued charges and deferred income492/3€9k€7k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€2k▼
Other operating charges640/8€1k€2k▲
Gross operating margin9900€164k€287k▲
Operating profit (loss)9901€160k€283k▲
Financial charges65/66B€255€413▲
Recurring financial charges65€255€413▲
Profit (loss) for the period before taxes9903€160k€283k▲
Income taxes67/77€54k€92k▲
Profit (loss) for the period9904€106k€191k▲
Profit (loss) for the period to be appropriated9905€106k€191k▲
Appropriation of the result
Profit (loss) to be appropriated9906€106k€192k▲
Profit (loss) brought forward from the previous period14P€639€639=
Transfer to equity691/2€106k€191k▲
To other reserves6921€106k€191k▲
Profit to be distributed694/7€0-
Return on contributions (dividend)694€0-
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10k | €10k | €10k | €3k | €2k | ▼ 9.4% |
| Other operating charges640/8 | €2k | €2k | €2k | €1k | €2k | ▲ 11.8% |
| Gross operating margin9900 | €134k | €93k | €125k | €164k | €287k | ▲ 75.3% |
| Operating profit (loss)9901 | €122k | €81k | €113k | €160k | €283k | ▲ 77.3% |
| Financial income75/76B | €7k | €17k | - | - | - | - |
| Recurring financial income75 | €7k | €17k | - | - | - | - |
| Financial charges65/66B | €605 | €267 | €279 | €255 | €413 | ▲ 61.7% |
| Recurring financial charges65 | €605 | €267 | €279 | €255 | €413 | ▲ 61.7% |
| Profit (loss) for the period before taxes9903 | €128k | €98k | €113k | €160k | €283k | ▲ 77.3% |
| Income taxes67/77 | €41k | €30k | €38k | €54k | €92k | ▲ 70.7% |
| Profit (loss) for the period9904 | €86k | €68k | €75k | €106k | €191k | ▲ 80.7% |
| Profit (loss) for the period to be appropriated9905 | €86k | €68k | €75k | €106k | €191k | ▲ 80.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €491k | €450k | €467k | €516k | €701k | ▲ 35.9% |
| Fixed assets21/28 | €367k | €360k | €350k | €350k | €349k | ▼ 0.3% |
| Tangible fixed assets22/27 | €21k | €14k | €4k | €3k | €2k | ▼ 29.7% |
| Furniture and vehicles24 | €21k | €14k | €4k | €3k | €2k | ▼ 29.7% |
| Financial fixed assets28 | €346k | €346k | €346k | €346k | €346k | = |
| Current assets29/58 | €124k | €90k | €117k | €166k | €353k | ▲ 112% |
| Amounts receivable within one year40/41 | €2k | €2k | €10k | €20k | €70k | ▲ 247% |
| Trade receivables40 | €2k | €2k | €10k | €20k | €62k | ▲ 207% |
| Other amounts receivable41 | - | - | - | - | €8k | - |
| Cash at bank and in hand54/58 | €120k | €69k | €106k | €145k | €282k | ▲ 94.1% |
| Deferred charges and accrued income490/1 | €1k | €18k | €703 | €767 | €603 | ▼ 21.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €491k | €450k | €467k | €516k | €701k | ▲ 35.9% |
| Equity10/15 | €362k | €361k | €377k | €483k | €674k | ▲ 39.5% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | €62k | €62k | €62k | €62k | €62k | = |
| Issued capital100 | €62k | €62k | €62k | €62k | €62k | = |
| Reserves13 | €172k | €240k | €315k | €420k | €611k | ▲ 45.4% |
| Non-distributable reserves130/1 | €6k | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | €6k | €6k | €6k | €6k | €6k | = |
| Distributable reserves133 | €165k | €234k | €308k | €414k | €605k | ▲ 46.1% |
| Profit (loss) carried forward14 | €129k | €59k | €639 | €639 | €639 | = |
| Amounts payable17/49 | €129k | €89k | €90k | €33k | €28k | ▼ 16.6% |
| Amounts payable within one year42/48 | €122k | €81k | €81k | €24k | €20k | ▼ 17.3% |
| Financial debts43 | €12k | - | - | - | - | - |
| Credit institutions430/8 | €12k | - | - | - | - | - |
| Trade debts44 | €875 | €1k | €3k | €7k | €4k | ▼ 43.6% |
| Suppliers440/4 | €875 | €1k | €3k | €7k | €4k | ▼ 43.6% |
| Taxes, remuneration and social security45 | €9k | €10k | €20k | €18k | €16k | ▼ 7.6% |
| Taxes450/3 | €9k | €10k | €20k | €18k | €16k | ▼ 7.6% |
| Other amounts payable47/48 | €100k | €70k | €58k | €0 | - | - |
| Accrued charges and deferred income492/3 | €7k | €8k | €9k | €9k | €7k | ▼ 14.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €86k | €68k | €75k | €106k | €191k | ▲ 80.7% |
| + Depreciation and write-downs630 | €10k | €10k | €10k | €3k | €2k | ▼ 9.4% |
| Operating cash flow (approximation) | €96k | €78k | €85k | €108k | €193k | ▲ 78.5% |
| Investment in fixed assets (approximation) | - | €-3k | €0 | €-2k | €-1k | ▲ 27.2% |
| Change in cash | - | €-51k | €37k | €40k | €137k | ▲ 246% |
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
19-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Highest result since 2018net €191k ▲80.7%
Operating result €283k, net result €191k, both a record.
30-09
Financial
Liquidity triplescurrent ratio 17.48
Current ratio from 6.82 to 17.48; short-term debt falls from €24k to €20k.
30-09
Financial
Equity above €500kEq €674k ▲39.5%
8 profitable years in a row build equity to €674k.
01-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Liquidity times 5current ratio 6.82
Current ratio from 1.44 to 6.82; short-term debt falls from €81k to €24k.
29-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
27-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Weakest financial yearnet €68k ▼20.9%
Net result drops to €68k, the lowest in the series; recovery starts the following year.
26-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
15-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Liquidity times 10current ratio 11.11
Current ratio from 1.12 to 11.11; short-term debt falls from €87k to €9k.
Show earlier events
29-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
29-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-03
NBB filing
Annual accounts filed
fiscal year 2016 · 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.
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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, Knokke-Heist · 1 establishment unit since 1994
Ground area
982 m²
Building footprint
352 m²
Volume, LiDAR
4,058 m³
Parcel 31013C0439/00A000, Flanders · tallest building 13.8 m, ±4 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Van Rysselberghestraat 1, 8300 Knokke-Heist
since 19942.068.928.935
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31013C0439/00A000 | Flanders | 981 m² | 1 · 352 m² | 13.8 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 2,712 companies in sector 73200 we hold annual accounts for 1,782. 1,210 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
Founded19-10-1994
Fiscal year end30-09
Activities, NACEBEL 2025
73200Market research and public opinion polling
Scores and ratios are computed by Checked and are not a credit decision.