Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of Vado is 4.5% (elevated). The 2025 annual accounts show equity of €100k and a net result of €53k. Equity is growing by ~86.9% per year across the filed fiscal years. The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 3 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyoneStatistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Timeline
What happened to this company, by date
State Gazette, CBE and NBB in one seriesA single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.
28-08-2026 NBB filing Annual accounts filed
25-08-2025 NBB filing Annual accounts filed
30-08-2024 NBB filing Annual accounts filed
Financials
Financial health
FY 2025 · computed · 5 of 5 axes measuredThe full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.
See plans →The score above is a single figure for the whole company. The axes below set that score, as the Health axis, beside the other dimensions, so you can see whether a good score holds everywhere or rests on one point.
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Figures by fiscal year
Source: NBB · 2025How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Fiscal year | 2025 |
|---|---|
| Deposit | micro schema |
| Revenue | - |
| EBITDA | - |
| Net profit | €53k |
| Cash flow | - |
| Staff costs | - |
| Income taxes | €13k |
| Dividends | - |
| Total assets | €326k |
| Equity | €100k |
| Debt | €226k |
| of which ≤ 1y | €226k |
| of which > 1y | - |
| Working capital | €100k |
| Employees (FTE) | - |
| 2025 | |
|---|---|
| Current ratio | 1.45 |
| Quick ratio | 0.29 |
| Working capital ratio | 30.8% |
| Solvency | 30.8% |
| Debt / equity | 2.25 |
| Long-term debt ratio | - |
| Interest coverage | - |
| Gross margin | - |
| Net margin | - |
| ROA | 16.2% |
| ROE | 52.8% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Full annual accounts (19 line items)
| Line item | Code | 2025 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €326k |
| Current assets | 29/58 | €326k |
| Stocks & contracts in progress | 3 | €260k |
| Amounts receivable within one year | 40/41 | €39k |
| Cash & bank | 54/58 | €27k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €326k |
| Equity | 10/15 | €100k |
| Contributions / capital | 10/11 | €20k |
| Reserves | 13 | €80k |
| Amounts payable | 17/49 | €226k |
| Amounts payable within one year | 42/48 | €226k |
| Trade debts payable within one year | 44 | €200k |
| Income statement | ||
| Gross operating margin | 9900 | €67k |
| Operating result | 9901 | €66k |
| Financial charges | 65 | €198 |
| Result before taxes | 9903 | €66k |
| Income taxes | 67/77 | €13k |
| Net result for the period | 9904 | €53k |
| Result to be appropriated | 9905 | €53k |
Signals
Filing behaviour
From the deposit records, complete market-wide| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 31-12-2025 | 31-07-2026 | 28-08-2026 | 28 d late | 2026-00446981 |
| 31-12-2024 | 31-07-2025 | 25-08-2025 | 25 d late | 2025-00408093 |
| 31-12-2023 | 31-07-2024 | 30-08-2024 | 30 d late | 2024-00419322 |
Source: the National Bank's deposit records, as we have ingested them. NOTE: our copy has a gap across June to August 2026, missing roughly 220,000 deposits; for July we hold 15,605 of about 137,000 expected. A year whose deadline falls in that window shows as not confirmed, not as not filed. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.
Trust signals
2 signalsAdministrative Flags
Structure & network
Locations & real estate
Registered office
on the map · from the address registerEstablishment units
1 locationReal-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41061A0053/00T000 | Flanders | 652 m² | 1 · 263 m² | 9.7 m · 2 fl. |
Publications
Lifecycle & Insolvency Signals
Belgian State Gazette · acts
0 of 1 acts readWe know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.
Analysis
Credit advice
verdict per customer and amountSimilar
Similar companies
Comparable size, same sectorCompany registry
Company registry (CBE)
Crossroads Bank| Legal nameNL | Vado |