Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
Of this, €455,896 falls due within a year.
Five of the last ten came late. The 2019 accounts came latest: 137 days after the end of the period.
In July 2024, 1,379 companies had the same profile as VADELE has now. Each dot stands for 4 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,379 companies, not a prediction for VADELE. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
VADELE files the micro format. That format states no turnover. The gross margin fell from €71,803 in 2008 to €25,506 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €100,000. Estimated: probably between €62,000 and €180,000.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||
20/58 |
301,197 | 315,616 | 327,293 | 356,223 | 371,321 | 385,105 | 395,565 | 609,820 | 631,331 | 654,090 | 666,884 | 687,421 | 933,597 | 1.2m | 1.1m | 794,500 | 755,725 | 681,342 | |
21/28 |
301,197 | 315,616 | 326,274 | 355,304 | 369,284 | 383,264 | 393,747 | 608,273 | 629,049 | 649,825 | 663,923 | 685,506 | 754,759 | 751,466 | 836,702 | 698,499 | 702,726 | 628,958 | |
22/27 |
301,197 | 315,616 | 326,274 | 355,304 | 369,284 | 383,264 | 393,747 | 608,273 | 629,049 | 649,825 | 663,923 | 685,506 | 707,089 | 703,796 | 724,974 | 586,771 | 599,548 | 544,350 | |
22 |
298,914 | 312,594 | 326,274 | 355,304 | 369,284 | 383,264 | 393,747 | 608,273 | 629,049 | 649,825 | 663,923 | 684,498 | 705,074 | 700,422 | 720,241 | 585,717 | 598,143 | 544,350 | |
24 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 351 | 703 | 1,054 | 1,406 | - | |
26 |
2,283 | 3,022 | - | - | - | - | - | - | - | - | - | 1,008 | 2,015 | 3,023 | 4,031 | - | - | - | |
28 |
- | - | - | - | - | - | - | - | - | - | - | - | 47,670 | 47,670 | 111,728 | 111,728 | 103,178 | 84,608 | |
29/58 |
- | - | 1,019 | 919 | 2,038 | 1,841 | 1,818 | 1,547 | 2,282 | 4,266 | 2,962 | 1,915 | 178,838 | 487,671 | 241,923 | 96,001 | 52,998 | 52,384 | |
40/41 |
- | - | - | - | 2,038 | 1,841 | 1,670 | 1,536 | 1,424 | 3,136 | 2,104 | 1,839 | 178,400 | 460,729 | 189,752 | 24,900 | 37,700 | 41,100 | |
40 |
- | - | - | - | - | - | - | - | - | 1,827 | 877 | 705 | - | - | - | 4,900 | 36,700 | 40,100 | |
41 |
- | - | - | - | 2,038 | 1,841 | 1,670 | 1,536 | 1,424 | 1,309 | 1,227 | 1,134 | 178,400 | 460,729 | 189,752 | 20,000 | 1,000 | 1,000 | |
54/58 |
- | - | - | - | - | - | 148 | 12 | 8 | 8 | 8 | 76 | 437 | 10,882 | 10,901 | 13,999 | 12,899 | 5,284 | |
490/1 |
- | - | 1,019 | 919 | - | - | - | - | 850 | 1,122 | 850 | - | - | 16,060 | 41,270 | 57,102 | 2,400 | 6,000 | |
| Balance sheet: equity and liabilities | |||||||||||||||||||
10/49 |
301,197 | 315,616 | 327,293 | 356,223 | 371,321 | 385,105 | 395,565 | 609,820 | 631,331 | 654,090 | 666,884 | 687,421 | 933,597 | 1.2m | 1.1m | 794,500 | 755,725 | 681,342 | |
10/15 |
-184,252 | -185,240 | -192,678 | -203,224 | -210,233 | -208,345 | -193,297 | -199,865 | -162,566 | -140,618 | -114,021 | -77,195 | 209,625 | 226,022 | 69,657 | 77,527 | 77,138 | 61,488 | |
10/11 |
48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | |
100 |
- | - | - | - | - | - | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | |
13 |
4,800 | 4,800 | 4,800 | 4,800 | 4,800 | 4,800 | 4,800 | 4,800 | 4,800 | 4,800 | 4,800 | 4,800 | 4,800 | 4,800 | 1,476 | 1,476 | 1,457 | 674 | |
130/1 |
4,800 | 4,800 | 4,800 | 4,800 | 4,800 | 4,800 | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 4,800 | 4,800 | 4,800 | 4,800 | 4,800 | 4,800 | 4,800 | 4,800 | 1,476 | 1,476 | 1,457 | 674 | |
1311 |
4,800 | 4,800 | 4,800 | 4,800 | 4,800 | 4,800 | - | - | - | - | - | - | - | - | - | - | - | - | |
14 |
-237,052 | -238,040 | -245,478 | -256,024 | -263,033 | -261,146 | -246,097 | -252,665 | -215,366 | -193,418 | -166,821 | -129,995 | 156,825 | 173,222 | 20,181 | 28,050 | 27,681 | 12,813 | |
17/49 |
485,449 | 500,856 | 519,970 | 559,447 | 581,555 | 593,450 | 588,862 | 809,684 | 793,896 | 794,708 | 780,905 | 764,616 | 723,972 | 1.0m | 1.0m | 716,973 | 678,587 | 619,854 | |
17 |
29,554 | 53,023 | 105,785 | 164,526 | 219,974 | 274,376 | 327,753 | 380,148 | 431,189 | 485,912 | 547,815 | 594,820 | 639,711 | 682,510 | 723,314 | 580,861 | 611,282 | 317,686 | |
170/4 |
29,554 | 53,023 | 105,785 | 164,526 | 219,974 | 274,376 | 327,753 | 380,148 | 431,189 | 485,912 | 547,815 | 594,820 | 639,711 | 682,510 | 723,314 | 580,861 | 611,282 | 317,686 | |
42/48 |
455,896 | 447,833 | 414,186 | 394,921 | 361,581 | 319,074 | 261,109 | 429,537 | 362,708 | 308,796 | 233,090 | 169,795 | 84,261 | 257,105 | 235,728 | 87,931 | 67,305 | 302,168 | |
42 |
23,469 | 52,762 | 58,741 | 73,259 | 63,306 | 62,175 | 52,351 | 51,089 | 60,237 | 55,241 | 47,005 | 44,891 | 42,799 | 40,804 | 45,012 | 30,421 | 28,926 | 12,932 | |
43 |
154 | 153 | 149 | 149 | 146 | 196 | - | 191,939 | 195,379 | 181,956 | 112,450 | 56,681 | 4,177 | 190,000 | 190,000 | - | - | - | |
430/8 |
154 | 153 | 149 | 149 | 146 | 196 | - | 191,939 | 195,379 | 181,956 | 112,450 | 56,681 | 4,177 | 190,000 | 190,000 | - | - | - | |
44 |
10,459 | 239 | 1,505 | 9,488 | 4,336 | 2,015 | 2,882 | 3,473 | 5,384 | 2,342 | 5,182 | 531 | 22,452 | 12,739 | 716 | 12,131 | 20,250 | 1,564 | |
440/4 |
10,459 | 239 | 1,505 | 9,488 | 4,336 | 2,015 | 2,882 | 3,473 | 5,384 | 2,342 | 5,182 | 531 | 22,452 | 12,739 | 716 | 12,131 | 20,250 | 1,564 | |
45 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 380 | 8,123 | 8,247 | |
450/3 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 380 | 8,123 | 8,247 | |
47/48 |
421,813 | 394,679 | 353,791 | 312,025 | 293,794 | 254,689 | 205,877 | 183,036 | 101,707 | 69,257 | 68,452 | 67,693 | 14,833 | 13,562 | - | 45,000 | 10,005 | 279,424 | |
492/3 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 73,500 | 49,925 | 48,181 | - | - | |
| Income statement | |||||||||||||||||||
76A |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 2,250 | 3,375 | - | |
9900 |
25,506 | 38,360 | 47,035 | 31,418 | 25,088 | 12,477 | 47,656 | 20,171 | 35,775 | 31,368 | 30,526 | 7,493 | 48,152 | 12,426 | 77,402 | 71,568 | 65,871 | 71,803 | |
630 |
14,419 | 14,352 | 13,680 | 13,980 | 13,980 | 13,949 | 13,876 | 20,776 | 20,776 | 20,776 | 21,583 | 21,583 | 21,935 | 21,178 | 24,622 | 16,360 | 17,220 | 25,650 | |
640/8 |
4,827 | 4,689 | 4,810 | 4,122 | 5,739 | 4,908 | 4,624 | 2,488 | 4,796 | 6,331 | 5,804 | 8,818 | 4,885 | 4,942 | 4,261 | 4,481 | 2,552 | 1,912 | |
66A |
- | - | - | - | - | - | - | - | - | - | - | 177,362 | - | - | - | - | - | - | |
9901 |
6,260 | 19,319 | 28,546 | 13,316 | 5,370 | -6,379 | 29,156 | -3,093 | 10,203 | 4,261 | 3,138 | -22,908 | 21,333 | -13,694 | 48,519 | 50,727 | 46,098 | 44,241 | |
75/76B |
- | - | - | 0 | - | - | 130 | - | - | - | - | 0 | 6 | 234,891 | 34 | 11 | 76 | 10 | |
75 |
- | - | - | 0 | - | - | 130 | - | - | - | - | 0 | 6 | 234,891 | 34 | 11 | 76 | 10 | |
65/66B |
5,273 | 11,881 | 17,999 | 6,307 | 7,258 | 8,670 | 22,718 | 34,206 | 32,152 | 30,858 | 39,964 | 86,550 | 37,733 | 64,600 | 56,308 | 51,107 | 25,764 | 22,514 | |
65 |
5,273 | 11,881 | 17,999 | 6,307 | 7,258 | 8,670 | 22,718 | 34,206 | 32,152 | 30,858 | 39,964 | 86,550 | 37,733 | 64,600 | 56,308 | 51,107 | 25,764 | 22,514 | |
9903 |
987 | 7,438 | 10,547 | 7,009 | -1,888 | -15,049 | 6,568 | -37,299 | -21,948 | -26,597 | -36,826 | -286,820 | -16,395 | 156,597 | -7,755 | 1,881 | 23,785 | 21,736 | |
67/77 |
- | - | - | - | - | - | - | - | - | - | - | - | 1 | 233 | 115 | 1,492 | 8,135 | 8,249 | |
9904 |
987 | 7,438 | 10,547 | 7,009 | -1,888 | -15,049 | 6,568 | -37,299 | -21,948 | -26,597 | -36,826 | -286,820 | -16,397 | 156,365 | -7,869 | 388 | 15,650 | 13,488 | |
9905 |
987 | 7,438 | 10,547 | 7,009 | -1,888 | -15,049 | 6,568 | -37,299 | -21,948 | -26,597 | -36,826 | -286,820 | -16,397 | 156,365 | -7,869 | 388 | 15,650 | 13,488 | |
| Appropriation of the result | |||||||||||||||||||
9906 |
-237,052 | -238,040 | -245,478 | -256,024 | -263,033 | -261,146 | -246,097 | -252,665 | -215,366 | -193,418 | -166,821 | -129,995 | 156,825 | 176,545 | 20,181 | 28,070 | 28,464 | 13,488 | |
14P |
-238,040 | -245,478 | -256,024 | -263,033 | -261,146 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 3,324 | - | 19 | 783 | 674 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 3,324 | - | 19 | 783 | 674 | |
| Document | |||||||||||||||||||
The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 31-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-07-2026 | 2026-00361717 | |
| 31-12-2024 | micro format | 29-08-2025 | 2025-00434084 | |
| 31-12-2023 | micro format | 30-09-2024 | 2024-00490693 | |
| 31-12-2022 | micro format | 29-09-2023 | 2023-00459701 | |
| 31-12-2021 | abbreviated format | 28-06-2022 | 2022-20098256 | |
| 31-12-2020 | micro format | 30-07-2021 | 2021-42600407 | |
| 31-12-2019 | micro format | 15-12-2020 | 2020-75500008 | |
| 31-12-2018 | micro format | 30-09-2019 | 2019-66400341 | |
| 31-12-2017 | micro format | 31-07-2018 | 2018-40200367 | |
| 31-12-2016 | micro format | 27-07-2017 | 2017-36500561 | |
| 31-12-2015 | abbreviated format | 29-07-2016 | 2016-36900051 | |
| 31-12-2014 | abbreviated format | 30-06-2015 | 2015-26400468 | |
| 31-12-2013 | abbreviated format | 30-08-2014 | 2014-57000472 | |
| 31-12-2012 | abbreviated format | 26-07-2013 | 2013-36000490 | |
| 31-12-2011 | abbreviated format | 31-07-2012 | 2012-36400172 | |
| 31-12-2010 | abbreviated format | 30-08-2011 | 2011-49500249 | |
| 31-12-2009 | abbreviated format | 22-07-2010 | 2010-33200323 | |
| 31-12-2008 | abbreviated format | 01-07-2009 | 2009-37200273 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 20,679 | 33,672 | 42,226 | 27,296 | 19,350 | 7,570 | 43,032 | 17,683 | 30,979 | 25,037 | 24,722 | -1,325 | 43,267 | 7,484 | 73,141 | 67,087 | 63,318 | 69,891 | ||
| 15,406 | 21,790 | 24,227 | 20,989 | 12,092 | -1,100 | 20,444 | -16,523 | -1,172 | -5,821 | -15,243 | -265,237 | 5,538 | 177,542 | 16,753 | 16,748 | 32,870 | 39,138 | ||
| 0 | 3,695 | -15,350 | 0 | 0 | 3,466 | -200,650 | 0 | 0 | 6,678 | 0 | -47,670 | 25,228 | -64,058 | 162,825 | 1,333 | 87,613 | 663,158 | ||
| - | - | - | - | - | - | 136 | 4 | -0 | 0 | -68 | -362 | -10,445 | -19 | -3,098 | 1,100 | 7,614 | - | ||
| - | - | -413,167 | -394,002 | -359,543 | -317,233 | -259,291 | -427,989 | -360,426 | -304,530 | -230,128 | -167,880 | 94,577 | 230,566 | 6,195 | 8,069 | -14,306 | -249,784 | ||
| -61.2% | -58.7% | -58.9% | -57.0% | -56.6% | -54.1% | -48.9% | -32.8% | -25.7% | -21.5% | -17.1% | -11.2% | 22.5% | 18.2% | 6.5% | 9.8% | 10.2% | 9.0% | ||
| - | - | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 2.12 | 1.90 | 1.03 | 1.09 | 0.79 | 0.17 | ||
| - | - | - | - | - | - | - | - | - | - | - | - | 3.45 | 4.48 | 14.48 | 9.25 | 8.80 | 10.08 | ||
| - | - | - | - | - | - | - | - | - | - | - | - | -7.8% | 69.2% | -11.3% | 0.5% | 20.3% | 21.9% | ||
| 0.3% | 2.4% | 3.2% | 2.0% | -0.5% | -3.9% | 1.7% | -6.1% | -3.5% | -4.1% | -5.5% | -41.7% | -1.8% | 12.6% | -0.7% | 0.0% | 2.1% | 2.0% | ||
| 3.92 | 2.83 | 2.35 | 4.33 | 2.67 | - | - | - | - | - | - | - | - | - | - | - | - | - |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €3,695 | - | - | - |
| €14,419 | €14,352 | €13,680 | €13,980 | €13,980 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 68% lower than in 2024 and the lowest since 2021. It is the second fall in a row.
Equity is negative. Debt (€485,449) exceeds the balance-sheet total (€301,197).
Source: list of holdings in its own 2013 accounts. The amounts are in that list and come from the holdings' accounts at 31-12-2012, in their own currency.
| VERZEKERINGSPARTNERS
registered office since 25-06-2007 · founded in 2007 |
1 FTE (2025) 0890.319.646 |
| Vereniging van Mede-eigenaars van het gebouw te 2100 Antwerpen-Deurne, Herentalsebaan 250-252
registered office since 21-12-1995 |
founded in 1995 0867.792.484 |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Herentalsebaan 250 registered office 2100 Antwerp | ||
| Stationsstraat 7 2880 Bornem 7010001 Activities of head offices | 07-06-2007 | 2.165.946.949 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11346B0493/00B002 | 763 m² | 1 · 271 m² | 15.2 m · 4 |
| 12007B0582/00F000 | 101 m² | 1 · 110 m² | 10.3 m · 3 |
If something looks wrong or is missing, please tell us.