VADEGRU
ActiveVADEGRU is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €283k and a net result of €21k. Equity is growing by ~8.9% per year across the filed fiscal years. Its solvency ranks better than 43% of 5495 sector peers (fiscal year 2025). The company has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals.
Signals
Three signals. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
105 d late
2023
30 d late
2022
23 d late
2021
45 d late
2020
31 d late
2019
88 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€283k▲ 7.8%
2024 · €262k
2018: €172k
2019: €169k
2020: €181k
2021: €189k
2022: €226k
2023: €236k
2024: €262k
2018 → 2025
Net result
€21k▼ 22.4%
2024 · €26k
2018: €2k
2019: €-2k
2020: €12k
2021: €8k
2022: €37k
2023: €10k
2024: €26k
2018 → 2025
Total assets
€653k▼ 1.6%
2024 · €664k
2018: €526k
2019: €664k
2020: €666k
2021: €656k
2022: €678k
2023: €654k
2024: €664k
2018 → 2025
Solvency
43.3%▲ 3.8pp
2024 · 39.5%
2018: 32.6%
2019: 25.5%
2020: 27.2%
2021: 28.8%
2022: 33.3%
2023: 36.1%
2024: 39.5%
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€189k-€226k▲ 19.4%€236k▲ 4.4%€262k▲ 11.2%€283k▲ 7.8%
Operating result€25k-€64k▲ 155%€34k▼ 47.5%€60k▲ 76.9%€49k▼ 18.6%
Net result€8k-€37k▲ 356%€10k▼ 72.6%€26k▲ 165%€21k▼ 22.4%
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 falls in 2025; 2025 is 19% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €653k
Fixed assets
€497k▼ 0.5%
Current assets
€157k▼ 5.1%
Equity and liabilities €653k
Equity
€283k▲ 7.8%
Debt
€371k▼ 7.8%
The debt ratio falls from 60.5% to 56.7%: equity grows while debt is paid down.
Key figures and ratios
Solvency
43.3%▲
2024 · 39.5%
ROE
7.3%▼
2024 · 10.1%
ROA
3.1%▼
2024 · 4.0%
Debt
€371k▼
2024 · €402k
Debt ≤ 1 year
€347k▲
2024 · €346k
Debt > 1 year
€9k▼
2024 · €39k
Income taxes
€8k▼
2024 · €9k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€664k€653k▼
Fixed assets21/28€499k€497k▼
Tangible fixed assets22/27€16k€14k▼
Other tangible fixed assets26€16k€14k▼
Financial fixed assets28€483k€483k=
Current assets29/58€165k€157k▼
Amounts receivable within one year40/41€130k€131k▲
Trade receivables40€19k€110▼
Other amounts receivable41€110k€131k▲
Cash at bank and in hand54/58€35k€25k▼
Equity and liabilities
Total equity and liabilities10/49€664k€653k▼
Equity10/15€262k€283k▲
Contributions10/11€6k€6k=
Reserves13€256k€277k▲
Distributable reserves133€256k€277k▲
Amounts payable17/49€402k€371k▼
Amounts payable after more than one year17€39k€9k▼
Financial debts170/4€39k€9k▼
Amounts payable within one year42/48€346k€347k▲
Current portion of amounts payable after more than one year42€29k€29k=
Trade debts44€2k€4k▲
Suppliers440/4€2k€4k▲
Taxes, remuneration and social security45€14k€12k▼
Taxes450/3€14k€12k▼
Other amounts payable47/48€301k€302k▲
Accrued charges and deferred income492/3€17k€15k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€3k=
Other operating charges640/8€603€644▲
Gross operating margin9900€63k€52k▼
Operating profit (loss)9901€60k€49k▼
Financial charges65/66B€25k€21k▼
Recurring financial charges65€25k€21k▼
Profit (loss) for the period before taxes9903€35k€28k▼
Income taxes67/77€9k€8k▼
Profit (loss) for the period9904€26k€21k▼
Profit (loss) for the period to be appropriated9905€26k€21k▼
Appropriation of the result
Profit (loss) to be appropriated9906€26k€21k▼
Transfer to equity691/2€26k€21k▼
To other reserves6921€26k€21k▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
13-11
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 105 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
23-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 23 days late
2022
31-12
Financial
Highest result since 2018net €37k ▲356%
Operating result €64k, net result €37k, both a record.
31-12
Financial
Equity above €200kEq €226k ▲19.4%
3 profitable years in a row build equity to €226k.
14-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 45 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Back to profitnet €12k
Net result €12k after one loss-making year.
27-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 88 days late
2019
31-12
Financial
Weakest financial yearnet €-2k ▼245%
Net result drops to €-2k, the lowest in the series; recovery starts the following year.
14-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 14 days late
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 24 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Merelbeke-Melle · 1 establishment unit since 2012
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Brusselsesteenweg 3459090 Merelbeke-MelleGround area
384 m²
Building footprint
113 m²
Volume, LiDAR
809 m³
Parcel 44040C0104/00N003, Flanders · tallest building 11.5 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
VADEGRU
since 20122.207.467.404
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44040C0104/00N003 | Flanders | 384 m² | 1 · 113 m² | 11.5 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 24,636 companies in sector 64210 we hold annual accounts for 19,688. 13,690 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded01-02-2012
Fiscal year end31-12
Activities, NACEBEL
64200Holdings
64210Activities of holding companies
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.