VADECO
ActiveSummary
VADECO has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €304,041 and a net result of -€88,101. Equity is growing by ~18.2% per year across the filed fiscal years. Its solvency ranks better than 35% of 639 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability27▲+17
Solvency52▼-5
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €16,000 at 30 days acceptable
Liquidity short (current ratio 0.05 against 0.03 in 2024; short-term debt: 52.5% and cash: 0.7% of total assets), and 73.5% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 74
Relative position
BE, all sectors
reference
Other professional, scientific and technical activities (NACE 74)
about 48% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€88,101
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 16-04-2026, 14 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
14 d early
2024
21 d early
2023
5 d early
2022
4 d early
2021
31 d early
2020
27 d late
2019
28 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 3 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% 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. Usually files around 16 April (5 of the last 5 filed years within 30 days of that day).
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, abbreviated schema
Equity
€304,041▼ 22.5%
2024 · €392,142
Total assets
€1.1m▼ 6.3%
2024 · €1.2m
Net result
-€88,101▲ 87.0%
2024 · -€678,059
Working capital
-€573,947▼ 2.1%
2024 · -€561,998
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical 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
Operating result€17,795▲ 19.1%€5,000▼ 71.9%€19,952▲ 299%-€4,704-€84,109▼ 1,688%
Net result€10,341within the sector's middle half▲ 16.5%€231within the sector's middle half▼ 97.8%€15,278within the sector's middle half▲ 6,523%-€678,059below the sector's middle half-€88,101below the sector's middle half▲ 87.0%
Equity€54,690within the sector's middle half▲ 23.3%€54,920within the sector's middle half▲ 0.4%€70,199within the sector's middle half▲ 27.8%€392,142within the sector's middle half▲ 459%€304,041within the sector's middle half▼ 22.5%
Total assets€328,945above the sector's middle half▲ 1.3%€322,747within the sector's middle half▼ 1.9%€937,319within the sector's middle half▲ 190%€1.2mwithin the sector's middle half▲ 30.5%€1.1mabove the sector's middle half▼ 6.3%
Debt€274,256▼ 2.2%€267,827▼ 2.3%€867,120▲ 224%€831,283▼ 4.1%€842,174▲ 1.3%
Working capital-€22,211below the sector's middle half▲ 58.5%€12,354within the sector's middle half-€584,467below the sector's middle half-€561,998below the sector's middle half▲ 3.8%-€573,947below the sector's middle half▼ 2.1%
Solvency16.6%within the sector's middle half▲ 3.0pp17.0%below the sector's middle half▲ 0.4pp7.5%below the sector's middle half▼ 9.5pp32.1%within the sector's middle half▲ 24.6pp26.5%within the sector's middle half▼ 5.5pp
Current ratio0.72below the sector's middle half▲ 0.361.20within the sector's middle half▲ 0.480.07below the sector's middle half▼ 1.120.03below the sector's middle half▼ 0.050.05below the sector's middle half▲ 0.02
Return on assets (ROA)3.1%within the sector's middle half▲ 0.4pp0.1%within the sector's middle half▼ 3.1pp1.6%within the sector's middle half▲ 1.6pp-55.4%below the sector's middle half▼ 57.1pp-7.7%below the sector's middle half▲ 47.7pp
Staff (FTE)0below the sector's middle half0below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical activities, 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 €84,109 in 2025 against €4,704 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€1.1m ▼ 7.3%
Current assets
€27,463 ▲ 70.0%
Equity and liabilities €1.1m
Equity
€304,041 ▼ 22.5%
Debt
€842,174 ▲ 1.3%
Debt's share of the balance-sheet total rises from 67.9% to 73.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€8,029▼
2024 · €43,728
Cash flow
€4,038▲
2024 · -€629,627
Debt to equity
2.77▲
2024 · 2.12
ROE
-29.0%▲
2024 · -172.9%
Interest coverage
2.15▲
2024 · 1.15
Debt ≤ 1 year
€601,410▲
2024 · €578,151
Debt > 1 year
€159,398▼
2024 · €173,576
Income taxes
€289▲
2024 · €161
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,508 companies that looked in July 2024 the way this one looks now, 1.4% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a small loss
1.4%
went bankrupt
1.7%
stopped otherwise
96%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
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 2,508 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €11,446 | €13,325 | ▲ 16.4% |
| Remuneration, social security and pensions62 | - | €314 | €504 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €46,418 | €46,111 | €42,625 | €48,432 | €92,138 | ▲ 90.2% |
| Other operating charges640/8 | - | €2,421 | €2,826 | €2,985 | €2,664 | ▼ 10.8% |
| Gross operating margin9900 | €67,066 | €53,846 | €65,907 | €46,713 | €10,693 | ▼ 77.1% |
| Operating profit (loss)9901 | €17,795 | €5,000 | €19,952 | -€4,704 | -€84,109 | ▼ 1,688% |
| Financial income75/76B | - | €0 | €22 | €14 | €24 | ▲ 71.2% |
| Recurring financial income75 | €185 | €0 | €22 | €14 | €24 | ▲ 71.2% |
| Financial charges65/66B | - | €3,758 | €2,070 | €673,209 | €3,727 | ▼ 99.4% |
| Recurring financial charges65 | €3,494 | €3,758 | €2,070 | €37,898 | €3,727 | ▼ 90.2% |
| Non-recurring financial charges66B | - | - | - | €635,311 | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | €14,486 | €1,243 | €17,904 | -€677,899 | -€87,812 | ▲ 87.0% |
| Income taxes67/77 | €4,144 | €1,012 | €2,626 | €161 | €289 | ▲ 79.8% |
| Profit (loss) for the period9904 | €10,341 | €231 | €15,278 | -€678,059 | -€88,101 | ▲ 87.0% |
| Profit (loss) for the period to be appropriated9905 | €10,341 | €231 | €15,278 | -€678,059 | -€88,101 | ▲ 87.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €328,945 | €322,747 | €937,319 | €1.2m | €1.1m | ▼ 6.3% |
| Fixed assets21/28 | €272,001 | €247,583 | €891,015 | €1.2m | €1.1m | ▼ 7.3% |
| Tangible fixed assets22/27 | €271,983 | €247,564 | €255,686 | €1.2m | €1.1m | ▼ 7.3% |
| Land and buildings22 | - | €239,315 | €203,034 | €1.2m | €1.1m | ▼ 6.6% |
| Plant, machinery and equipment23 | - | €1,942 | €1,420 | €898 | €888 | ▼ 1.2% |
| Furniture and vehicles24 | - | €6,307 | €51,231 | €39,603 | €28,295 | ▼ 28.6% |
| Financial fixed assets28 | €19 | €19 | €635,330 | €19 | €19 | = |
| Current assets29/58 | €56,944 | €75,165 | €46,304 | €16,153 | €27,463 | ▲ 70.0% |
| Amounts receivable within one year40/41 | €50,289 | €72,177 | €42,045 | €12,869 | €17,600 | ▲ 36.8% |
| Trade receivables40 | - | €43,837 | €41,672 | €8,337 | €14,758 | ▲ 77.0% |
| Other amounts receivable41 | - | €28,340 | €374 | €4,532 | €2,842 | ▼ 37.3% |
| Cash at bank and in hand54/58 | €6,485 | €840 | €2,821 | €1,616 | €7,598 | ▲ 370% |
| Deferred charges and accrued income490/1 | - | €2,148 | €1,437 | €1,667 | €2,265 | ▲ 35.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €328,945 | €322,747 | €937,319 | €1.2m | €1.1m | ▼ 6.3% |
| Equity10/15 | €54,690 | €54,920 | €70,199 | €392,142 | €304,041 | ▼ 22.5% |
| Contributions10/11 | - | €45,000 | €45,000 | €45,000 | €45,000 | = |
| Revaluation surpluses12 | - | - | - | €1.0m | €955,000 | ▼ 4.5% |
| Reserves13 | €9,690 | €9,690 | €9,690 | €9,690 | €54,690 | ▲ 464% |
| Non-distributable reserves130/1 | - | €99 | €99 | €99 | €99 | = |
| Reserves not available under the articles1311 | - | €99 | €99 | €99 | €99 | = |
| Distributable reserves133 | - | €9,590 | €9,590 | €9,590 | €54,590 | ▲ 469% |
| Profit (loss) carried forward14 | -€9,625 | €231 | €15,509 | -€662,548 | -€750,649 | ▼ 13.3% |
| Amounts payable17/49 | €274,256 | €267,827 | €867,120 | €831,283 | €842,174 | ▲ 1.3% |
| Amounts payable after more than one year17 | €148,650 | €158,566 | €189,898 | €173,576 | €159,398 | ▼ 8.2% |
| Financial debts170/4 | - | €158,566 | €189,898 | €173,576 | €159,398 | ▼ 8.2% |
| Amounts payable within one year42/48 | €79,155 | €62,810 | €630,771 | €578,151 | €601,410 | ▲ 4.0% |
| Current portion of amounts payable after more than one year42 | - | €10,664 | €19,801 | €20,364 | €18,870 | ▼ 7.3% |
| Financial debts43 | - | - | €807 | €0 | - | - |
| Credit institutions430/8 | - | - | €807 | €0 | - | - |
| Trade debts44 | €58,683 | €41,747 | €46,115 | €17,619 | €35,283 | ▲ 100% |
| Suppliers440/4 | - | €41,747 | €46,115 | €17,619 | €35,283 | ▲ 100% |
| Advances received on contracts in progress46 | - | - | - | - | €3,000 | - |
| Taxes, remuneration and social security45 | - | €9,859 | €2,059 | €1,507 | €4,626 | ▲ 207% |
| Taxes450/3 | - | €6,191 | €2,059 | €1,507 | €4,626 | ▲ 207% |
| Remuneration and social security454/9 | - | €3,668 | €0 | - | - | - |
| Other amounts payable47/48 | - | €541 | €561,989 | €538,661 | €539,631 | ▲ 0.2% |
| Accrued charges and deferred income492/3 | - | €46,451 | €46,451 | €79,556 | €81,366 | ▲ 2.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,341 | €231 | €15,278 | -€678,059 | -€88,101 | ▲ 87.0% |
| + Depreciation and write-downs630 | €46,418 | €46,111 | €42,625 | €48,432 | €92,138 | ▲ 90.2% |
| Operating cash flow (approximation) | €56,759 | €46,342 | €57,903 | -€629,627 | €4,038 | ▲ 101% |
| Investment in fixed assets (approximation) | - | -€21,692 | -€686,057 | -€364,689 | -€3,618 | ▲ 99.0% |
| Change in cash | - | -€5,645 | €1,981 | -€1,205 | €5,982 | ▲ 596% |
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
16-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
09-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-09
Financial
Weakest financial yearnet -€678,059
Net result drops to -€678,059, the lowest in the series; recovery starts the following year.
30-09
Financial
Equity above €200,000Eq €392,142 ▲459%
Equity rises from €70,199 to €392,142.
25-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Highest result since 2018net €15,278 ▲6,523%
Operating result €19,952, net result €15,278, both a record.
26-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
27-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
28-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 28 days late
2019
30-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
17-03
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, Maarkedal · 1 establishment unit since 1999
Ground area
5,539 m²
Building footprint
240 m²
Volume, LiDAR
1,276 m³
Parcel 45032C0651/00E000, Flanders · tallest building 8.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Spichtenberg 6, 9681 Maarkedal
since 19992.092.154.002
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45032C0651/00E000 | Flanders | 5,539 m² | 1 · 240 m² | 8.7 m · 2 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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 30-09-2025 list no shareholders, and no other source names one.
Holdings 1
-
100%
According to the annual accounts to 30-09-2025 of VADECO and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 268 EUR awarded · 268 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 268 EUR | 268 EUR |
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Of 3,838 companies in sector 74111 we hold annual accounts for 1,006. 796 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
Founded06-07-1999
Fiscal year end30-09
Activities, NACEBEL 2025
74111Design of textile patterns, clothing, jewellery, furniture and decorative items
E-invoicing
Reachable via Peppol
Peppol ID
0208:0466460528
Registered
27-03-2026
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.