VADETH
ActiveSummary
VADETH has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €136k and a net result of €88k. Equity is growing by ~11.6% per year across the filed fiscal years. Its solvency ranks better than 55% of 9982 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+32
Solvency72▲+22
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity ample (current ratio 1.65 against 1.32 in 2023; short-term debt: 52.8% and cash: 15.2% of total assets), but 52.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more 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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-07-2025, 6 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
6 d early
2023
13 d late
2022
28 d late
2021
23 d late
2020
31 d late
2019
31 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€136k▲ 183%
2023 · €48k
2018: €30klowest in 7 years
2019: €40k▲ +32.2% vs 2018
2020: €38k▼ -4.2% vs 2019
2021: €33k▼ -13.9% vs 2020
2022: €48k▲ +48.3% vs 2021
2023: €48k▼ -1.0% vs 2022
2024: €136k▲ +183% vs 2023highest in 7 years
2018 → 2024
Total assets
€288k▲ 47.3%
2023 · €195k
2018: €92k
2019: €101k▲ +10.1% vs 2018
2020: €74k▼ -26.8% vs 2019
2021: €62k▼ -16.0% vs 2020lowest in 7 years
2022: €78k▲ +25.6% vs 2021
2023: €195k▲ +150% vs 2022
2024: €288k▲ +47.3% vs 2023highest in 7 years
2018 → 2024
Net result
€88k
2023 · €-478
2018: €15k
2019: €10k▼ -34.5% vs 2018
2020: €-2k▼ -117% vs 2019
2021: €-5k▼ -217% vs 2020lowest in 7 years
2022: €16k▲ +398% vs 2021
2023: €-478▼ -103% vs 2022
2024: €88k▲ +18480% vs 2023highest in 7 years
2018 → 2024
Working capital
€99k▲ 112%
2023 · €47k
2018: €30klowest in 7 years
2019: €36k▲ +19.3% vs 2018
2020: €38k▲ +6.1% vs 2019
2021: €33k▼ -13.9% vs 2020
2022: €48k▲ +48.3% vs 2021
2023: €47k▼ -3.9% vs 2022
2024: €99k▲ +112% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€38k-€33k▼ 13.9%€48k▲ 48.3%€48k▼ 1.0%€136k▲ 183%
2020: €38k
2021: €33k▼ -13.9% vs 2020lowest in 5 years
2022: €48k▲ +48.3% vs 2021
2023: €48k▼ -1.0% vs 2022
2024: €136k▲ +183% vs 2023highest in 5 years
Operating result€3k-€756▼ 75.2%€17k▲ 2,157%€4k▼ 74.3%€121k▲ 2,660%
2020: €3k
2021: €756▼ -75.2% vs 2020lowest in 5 years
2022: €17k▲ +2157% vs 2021
2023: €4k▼ -74.3% vs 2022
2024: €121k▲ +2660% vs 2023highest in 5 years
Net result€-2k-€-5k▼ 217%€16k€-478€88k
2020: €-2k
2021: €-5k▼ -217% vs 2020lowest in 5 years
2022: €16k▲ +398% vs 2021
2023: €-478▼ -103% vs 2022
2024: €88k▲ +18480% vs 2023highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 2,660% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €288k
Fixed assets
€37k ▲ 2,536%
Current assets
€251k ▲ 29.2%
Equity and liabilities €288k
Equity
€136k ▲ 183%
Debt
€152k ▲ 3.1%
Debt's share of the balance-sheet total falls from 75.4% to 52.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€122k▲
2023 · €5k
Cash flow
€89k▲
2023 · €-235
Current ratio
1.65▲
2023 · 1.32
Debt to equity
1.12▼
2023 · 3.07
ROE
64.7%▲
2023 · -1.0%
ROA
30.5%▲
2023 · -0.2%
Interest coverage
1124.71▲
2023 · 37.95
Debt ≤ 1 year
€152k▲
2023 · €147k
Income taxes
€33k▲
2023 · €5k
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 · 2024 against 2023 · 32 lines
Balance sheet
Code20232024
Assets
Total assets20/58€195k€288k▲
Fixed assets21/28€1k€37k▲
Tangible fixed assets22/27€1k€37k▲
Furniture and vehicles24€1k€37k▲
Current assets29/58€194k€251k▲
Amounts receivable within one year40/41€194k€207k▲
Trade receivables40€85k€94k▲
Other amounts receivable41€109k€112k▲
Cash at bank and in hand54/58€252€44k▲
Deferred charges and accrued income490/1€96€449▲
Equity and liabilities
Total equity and liabilities10/49€195k€288k▲
Equity10/15€48k€136k▲
Contributions10/11€16k€16k=
Profit (loss) carried forward14€32k€120k▲
Amounts payable17/49€147k€152k▲
Amounts payable within one year42/48€147k€152k▲
Trade debts44€147k€134k▼
Suppliers440/4€147k€134k▼
Taxes, remuneration and social security45-€18k
Taxes450/3-€18k
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€243€779▲
Other operating charges640/8€559€524▼
Gross operating margin9900€5k€122k▲
Operating profit (loss)9901€4k€121k▲
Financial charges65/66B€122€108▼
Recurring financial charges65€122€108▼
Profit (loss) for the period before taxes9903€4k€121k▲
Income taxes67/77€5k€33k▲
Profit (loss) for the period9904€-478€88k▲
Profit (loss) for the period to be appropriated9905€-478€88k▲
Appropriation of the result
Profit (loss) to be appropriated9906€32k€120k▲
Profit (loss) brought forward from the previous period14P€32k€32k▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4k | - | - | €243 | €779 | ▲ 221% |
| Other operating charges640/8 | - | €534 | €410 | €559 | €524 | ▼ 6.3% |
| Gross operating margin9900 | €7k | €1k | €17k | €5k | €122k | ▲ 2,257% |
| Operating profit (loss)9901 | €3k | €756 | €17k | €4k | €121k | ▲ 2,660% |
| Financial income75/76B | - | - | €1 | - | - | - |
| Recurring financial income75 | - | - | €1 | - | - | - |
| Financial charges65/66B | - | €117 | €69 | €122 | €108 | ▼ 11.2% |
| Recurring financial charges65 | €72 | €117 | €69 | €122 | €108 | ▼ 11.2% |
| Profit (loss) for the period before taxes9903 | €3k | €639 | €17k | €4k | €121k | ▲ 2,736% |
| Income taxes67/77 | €5k | €6k | €1k | €5k | €33k | ▲ 593% |
| Profit (loss) for the period9904 | €-2k | €-5k | €16k | €-478 | €88k | ▲ 18,480% |
| Profit (loss) for the period to be appropriated9905 | €-2k | €-5k | €16k | €-478 | €88k | ▲ 18,480% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €74k | €62k | €78k | €195k | €288k | ▲ 47.3% |
| Fixed assets21/28 | - | - | - | €1k | €37k | ▲ 2,536% |
| Tangible fixed assets22/27 | - | - | - | €1k | €37k | ▲ 2,536% |
| Furniture and vehicles24 | - | - | - | €1k | €37k | ▲ 2,536% |
| Current assets29/58 | €74k | €62k | €78k | €194k | €251k | ▲ 29.2% |
| Amounts receivable within one year40/41 | €70k | €62k | €78k | €194k | €207k | ▲ 6.7% |
| Trade receivables40 | - | - | €7k | €85k | €94k | ▲ 11.5% |
| Other amounts receivable41 | - | €62k | €71k | €109k | €112k | ▲ 2.9% |
| Cash at bank and in hand54/58 | €4k | €112 | €3 | €252 | €44k | ▲ 17,235% |
| Deferred charges and accrued income490/1 | - | €84 | €84 | €96 | €449 | ▲ 365% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €74k | €62k | €78k | €195k | €288k | ▲ 47.3% |
| Equity10/15 | €38k | €33k | €48k | €48k | €136k | ▲ 183% |
| Contributions10/11 | €15k | €15k | €15k | €16k | €16k | = |
| Capital10 | - | €15k | €15k | - | - | - |
| Issued capital100 | - | €19k | €19k | - | - | - |
| Uncalled capital101 | - | €4k | €4k | - | - | - |
| Reserves13 | €800 | €800 | €2k | - | - | - |
| Non-distributable reserves130/1 | - | €800 | €2k | - | - | - |
| Legal reserve130 | - | €800 | €2k | - | - | - |
| Profit (loss) carried forward14 | €23k | €17k | €32k | €32k | €120k | ▲ 277% |
| Amounts payable17/49 | €36k | €30k | €30k | €147k | €152k | ▲ 3.1% |
| Amounts payable within one year42/48 | €36k | €30k | €30k | €147k | €152k | ▲ 3.1% |
| Trade debts44 | €34k | €27k | €24k | €147k | €134k | ▼ 9.2% |
| Suppliers440/4 | - | €27k | €24k | €147k | €134k | ▼ 9.2% |
| Taxes, remuneration and social security45 | - | - | - | - | €18k | - |
| Taxes450/3 | - | - | - | - | €18k | - |
| Other amounts payable47/48 | - | €2k | €6k | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-2k | €-5k | €16k | €-478 | €88k | ▲ 18,480% |
| + Depreciation and write-downs630 | €4k | - | - | €243 | €779 | ▲ 221% |
| Operating cash flow (approximation) | €2k | €-5k | €16k | €-235 | €89k | ▲ 37,758% |
| Investment in fixed assets (approximation) | - | - | - | - | €-37k | - |
| Change in cash | - | €-4k | €-109 | €249 | €43k | ▲ 17,341% |
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
2025
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €88k
Net result €88k after one loss-making year.
31-12
Financial
Equity above €100kEq €136k ▲183%
Equity rises from €48k to €136k.
13-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 13 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
31-12
Financial
Back to profitnet €16k
Net result €16k after 2 loss-making years.
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 23 days late
2021
31-12
Financial
Weakest financial yearnet €-5k
Net result drops to €-5k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
2016
29-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 29 days late
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, Gingelom · 1 establishment unit since 2012
Ground area
1,108 m²
Building footprint
155 m²
Volume, LiDAR
670 m³
Parcel 71007B0037/00K000, Flanders · tallest building 6.8 m, ±1 floor. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
VADETH
since 20122.214.894.733
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71007B0037/00K000 | Flanders | 1,108 m² | 1 · 155 m² | 6.8 m · 1 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 29,779 companies in sector 41001 we hold annual accounts for 16,044. 12,793 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
Founded22-10-2012
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
Scores and ratios are computed by Checked and are not a credit decision.