Summary
VADECON 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 €816,110 and a net result of €68,230. Equity is growing by ~18.3% per year across the filed fiscal years. Its solvency ranks better than 58% of 35 sector peers (fiscal year 2026). The company has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 18-09-2026, 43 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
43 d early
2025
2 d early
2024
8 d early
2023
1 d early
2022
4 d early
2021
9 d late
2020
12 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 5 days before the deadline; the sector median for financial year 2024 is 5 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 31-03-2027 and is due by 31-10-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-03-2027 close31-10-2027 deadline
History
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Financials · fiscal year 2026, micro schema
Equity
€816,110▼ 20.6%
2025 · €1.0m
Net result
€68,230▼ 30.9%
2025 · €98,796
Total assets
€1.2m▼ 0.4%
2025 · €1.2m
Solvency
70.3%▼ 17.9pp
2025 · 88.2%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 66, Activities auxiliary to financial services and insurance 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
Line20222023202420252026
Operating result€301,839▲ 285%€457,985▲ 51.7%€59,689▼ 87.0%€64,858▲ 8.7%€8,159▼ 87.4%
Net result€200,952above the sector's middle half▲ 315%€316,067above the sector's middle half▲ 57.3%€94,870above the sector's middle half▼ 70.0%€98,796above the sector's middle half▲ 4.1%€68,230▼ 30.9%
Equity€622,059above the sector's middle half▲ 41.5%€899,616above the sector's middle half▲ 44.6%€979,058above the sector's middle half▲ 8.8%€1.0mabove the sector's middle half▲ 5.0%€816,110▼ 20.6%
Total assets€842,314above the sector's middle half▲ 25.6%€1.1mabove the sector's middle half▲ 27.1%€1.1mabove the sector's middle half▲ 6.0%€1.2mabove the sector's middle half▲ 2.7%€1.2m▼ 0.4%
Debt€220,255▼ 4.7%€170,970▼ 22.4%€155,359▼ 9.1%€137,225▼ 11.7%€345,072▲ 151%
Working capital€372,470above the sector's middle half▲ 95.5%€620,789above the sector's middle half▲ 66.7%€260,200above the sector's middle half▼ 58.1%€298,501above the sector's middle half▲ 14.7%€275,183▼ 7.8%
Solvency73.9%within the sector's middle half▲ 8.3pp84.0%above the sector's middle half▲ 10.2pp86.3%above the sector's middle half▲ 2.3pp88.2%above the sector's middle half▲ 1.9pp70.3%▼ 17.9pp
Current ratio10.03above the sector's middle half▲ 2.2015.64above the sector's middle half▲ 5.616.41above the sector's middle half▼ 9.236.70above the sector's middle half▲ 0.294.03▼ 2.67
Return on assets (ROA)23.9%above the sector's middle half▲ 16.6pp29.5%above the sector's middle half▲ 5.7pp8.4%within the sector's middle half▼ 21.2pp8.5%within the sector's middle half▲ 0.1pp5.9%▼ 2.6pp
above
within
below
the middle half (P25 to P75) of NACE 66, Activities auxiliary to financial services and insurance 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 falls in 2026; 2026 is 87% below 2025 and is the lowest result in the available series.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €1.2m
Fixed assets
€795,249 ▼ 2.4%
Current assets
€365,933 ▲ 4.3%
Equity and liabilities €1.2m
Equity
€816,110 ▼ 20.6%
Debt
€345,072 ▲ 151%
Debt's share of the balance-sheet total rises from 11.8% to 29.7%. Equity is lower and debt is higher.
Key figures and ratios
ROE
8.4%▼
2025 · 9.6%
Debt ≤ 1 year
€90,750▲
2025 · €52,356
Debt > 1 year
€253,675▲
2025 · €84,869
Income taxes
€7,617▼
2025 · €27,136
Staff costs
€5,579▲
2025 · €5,465
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €5,175 | €5,175 | €5,492 | €5,465 | €5,579 | ▲ 2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23,853 | €21,191 | €18,173 | €19,454 | €20,295 | ▲ 4.3% |
| Other operating charges640/8 | €1,687 | €1,448 | €1,560 | €1,356 | €1,392 | ▲ 2.6% |
| Non-recurring operating charges66A | €0 | - | - | - | - | - |
| Gross operating margin9900 | €332,555 | €485,800 | €84,916 | €91,135 | €35,425 | ▼ 61.1% |
| Operating profit (loss)9901 | €301,839 | €457,985 | €59,689 | €64,858 | €8,159 | ▼ 87.4% |
| Financial income75/76B | €485 | €2,814 | €66,309 | €69,935 | €77,650 | ▲ 11.0% |
| Recurring financial income75 | €485 | €2,814 | €66,309 | €69,935 | €77,650 | ▲ 11.0% |
| Financial charges65/66B | €4,830 | €4,233 | €6,096 | €8,861 | €9,963 | ▲ 12.4% |
| Recurring financial charges65 | €4,830 | €4,233 | €6,096 | €8,861 | €9,963 | ▲ 12.4% |
| Profit (loss) for the period before taxes9903 | €297,493 | €456,566 | €119,902 | €125,932 | €75,847 | ▼ 39.8% |
| Income taxes67/77 | €96,542 | €140,498 | €25,033 | €27,136 | €7,617 | ▼ 71.9% |
| Profit (loss) for the period9904 | €200,952 | €316,067 | €94,870 | €98,796 | €68,230 | ▼ 30.9% |
| Profit (loss) for the period to be appropriated9905 | €200,952 | €316,067 | €94,870 | €98,796 | €68,230 | ▼ 30.9% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €842,314 | €1.1m | €1.1m | €1.2m | €1.2m | ▼ 0.4% |
| Fixed assets21/28 | €428,589 | €407,398 | €826,139 | €814,444 | €795,249 | ▼ 2.4% |
| Tangible fixed assets22/27 | €221,529 | €200,338 | €192,323 | €180,629 | €161,433 | ▼ 10.6% |
| Land and buildings22 | €221,529 | €200,338 | €187,168 | €174,924 | €156,226 | ▼ 10.7% |
| Furniture and vehicles24 | €0 | - | €5,155 | €5,704 | €5,208 | ▼ 8.7% |
| Financial fixed assets28 | €207,060 | €207,060 | €633,815 | €633,815 | €633,815 | = |
| Current assets29/58 | €413,725 | €663,188 | €308,279 | €350,858 | €365,933 | ▲ 4.3% |
| Amounts receivable within one year40/41 | €173,760 | €415,346 | €0 | €63,000 | €6,112 | ▼ 90.3% |
| Trade receivables40 | €170,156 | €395,000 | €0 | - | - | - |
| Other amounts receivable41 | €3,604 | €20,346 | €0 | €63,000 | €6,112 | ▼ 90.3% |
| Current investments50/53 | €119,774 | €162,229 | €204,694 | €226,502 | €269,244 | ▲ 18.9% |
| Cash at bank and in hand54/58 | €109,941 | €85,614 | €102,388 | €61,176 | €90,391 | ▲ 47.8% |
| Deferred charges and accrued income490/1 | €10,250 | €0 | €1,197 | €179 | €185 | ▲ 3.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €842,314 | €1.1m | €1.1m | €1.2m | €1.2m | ▼ 0.4% |
| Equity10/15 | €622,059 | €899,616 | €979,058 | €1.0m | €816,110 | ▼ 20.6% |
| Contributions10/11 | €222,060 | €222,060 | €222,060 | €222,060 | €222,060 | = |
| Reserves13 | €399,999 | €677,556 | €756,998 | €806,017 | €594,050 | ▼ 26.3% |
| Non-distributable reserves130/1 | €7,705 | €7,705 | €0 | - | - | - |
| Reserves not available under the articles1311 | €7,705 | €7,705 | €0 | - | - | - |
| Tax-exempt reserves132 | €16,000 | €16,000 | €16,000 | €16,000 | €16,000 | = |
| Distributable reserves133 | €376,294 | €653,851 | €740,998 | €790,017 | €578,050 | ▼ 26.8% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €220,255 | €170,970 | €155,359 | €137,225 | €345,072 | ▲ 151% |
| Amounts payable after more than one year17 | €179,000 | €127,976 | €106,665 | €84,869 | €253,675 | ▲ 199% |
| Financial debts170/4 | €179,000 | €127,976 | €106,665 | €84,869 | €253,675 | ▲ 199% |
| Amounts payable within one year42/48 | €41,255 | €42,399 | €48,080 | €52,356 | €90,750 | ▲ 73.3% |
| Current portion of amounts payable after more than one year42 | €34,325 | €21,662 | €22,028 | €22,204 | €66,732 | ▲ 201% |
| Trade debts44 | €1,153 | €807 | €1,972 | €320 | €1,598 | ▲ 399% |
| Suppliers440/4 | €1,153 | €807 | €1,972 | €320 | €1,598 | ▲ 399% |
| Taxes, remuneration and social security45 | - | - | €540 | €1,526 | €469 | ▼ 69.3% |
| Taxes450/3 | - | - | €540 | €1,526 | €469 | ▼ 69.3% |
| Other amounts payable47/48 | €5,777 | €19,931 | €23,540 | €28,306 | €21,951 | ▼ 22.5% |
| Accrued charges and deferred income492/3 | - | €595 | €614 | €0 | €648 | - |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €200,952 | €316,067 | €94,870 | €98,796 | €68,230 | ▼ 30.9% |
| + Depreciation and write-downs630 | €23,853 | €21,191 | €18,173 | €19,454 | €20,295 | ▲ 4.3% |
| Operating cash flow (approximation) | €224,805 | €337,258 | €113,043 | €118,251 | €88,525 | ▼ 25.1% |
| Investment in fixed assets (approximation) | - | €0 | -€436,914 | -€7,760 | -€1,099 | ▲ 85.8% |
| Change in cash | - | -€24,328 | €16,774 | -€41,212 | €29,215 | ▲ 171% |
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
18-09
NBB filing
Annual accounts filed
fiscal year 2026 · micro schema
2025
29-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Equity above €1mEq €1.0m ▲5%
7 profitable years in a row build equity to €1.0m.
2024
23-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Highest result since 2019net €316,067 ▲57.3%
Operating result €457,985, net result €316,067, both a record.
2022
27-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
31-03
Financial
Equity above €500,000Eq €622,059 ▲41.5%
4 profitable years in a row build equity to €622,059.
2021
09-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 9 days late
2020
12-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 12 days late
31-03
Financial
Weakest financial yearnet €25,819 ▼45.8%
Net result drops to €25,819, the lowest in the series; recovery starts the following year.
2019
01-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
25-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
21-09
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 3 acts read
About the unread acts
We know of 3 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
3 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, Ledegem · 1 establishment unit since 2014
Ground area
525 m²
Building footprint
98 m²
Volume, LiDAR
553 m³
Parcel 36018B0528/00S000, Flanders · tallest building 6.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
VADECON
since 20142.236.974.507
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36018B0528/00S000 | Flanders | 525 m² | 1 · 98 m² | 6.3 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
2 holdingsOwners 0
The accounts to 31-03-2026 list no shareholders, and no other source names one.
Holdings 2
-
25.5%
-
21%
According to the annual accounts to 31-03-2026 of VADECON 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.
Recognitions · licences · registrations
Legal Entity Identifier
894500VIBEL3X5HSVL04
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Of 4,673 companies in sector 66220 we hold annual accounts for 3,222. 2,321 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
Founded11-12-2008
Fiscal year end31-03
Activities, NACEBEL 2025
66220Insurance agents and brokers
E-invoicing
Reachable via Peppol
Peppol ID
0208:0808367316
Also
9925:BE0808367316
Registered
17-06-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.