VADRO
ActiveSummary
VADRO has been active since 1984 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €209,500 and a net result of €14,600. Equity is growing by ~4.3% per year across the filed fiscal years. Its solvency ranks better than 95% of 10519 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability77=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €16,000 at 30 days acceptable
Liquidity ample (current ratio 19.01 against 11.37 in 2024; short-term debt: 5.2% and cash: 6.4% of total assets), and 5.2% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
94.8%
Return on assets
6.6%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 27-02-2026, 62 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
62 d early
2024
76 d early
2023
70 d early
2022
62 d early
2021
71 d early
2020
52 d early
2019
65 d early
← 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 65 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 20 February (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€209,500▲ 7.5%
2024 · €194,900
Total assets
€221,027▲ 3.6%
2024 · €213,409
Net result
€14,600▲ 4.7%
2024 · €13,945
Working capital
€207,644▲ 8.1%
2024 · €192,030
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Line20212022202320242025
Operating result€3,370▼ 79.3%€123▼ 96.3%€10,139▲ 8,140%€17,732▲ 74.9%€18,958▲ 6.9%
Net result€3,326below the sector's middle half▼ 75.7%€309below the sector's middle half▼ 90.7%€8,409within the sector's middle half▲ 2,623%€13,945within the sector's middle half▲ 65.8%€14,600within the sector's middle half▲ 4.7%
Equity€172,237within the sector's middle half▲ 2.0%€172,546within the sector's middle half▲ 0.2%€180,955within the sector's middle half▲ 4.9%€194,900within the sector's middle half▲ 7.7%€209,500within the sector's middle half▲ 7.5%
Total assets€193,615below the sector's middle half▼ 9.5%€192,201below the sector's middle half▼ 0.7%€204,124below the sector's middle half▲ 6.2%€213,409below the sector's middle half▲ 4.5%€221,027below the sector's middle half▲ 3.6%
Debt€21,378▼ 52.5%€19,654▼ 8.1%€23,169▲ 17.9%€18,509▼ 20.1%€11,527▼ 37.7%
Working capital€167,821within the sector's middle half▲ 2.5%€168,723within the sector's middle half▲ 0.5%€175,913within the sector's middle half▲ 4.3%€192,030within the sector's middle half▲ 9.2%€207,644within the sector's middle half▲ 8.1%
Solvency89.0%above the sector's middle half▲ 10.0pp89.8%above the sector's middle half▲ 0.8pp88.6%above the sector's middle half▼ 1.1pp91.3%above the sector's middle half▲ 2.7pp94.8%above the sector's middle half▲ 3.5pp
Current ratio10.68above the sector's middle half▲ 5.3810.06above the sector's middle half▼ 0.638.59above the sector's middle half▼ 1.4611.37above the sector's middle half▲ 2.7819.01above the sector's middle half▲ 7.64
Return on assets (ROA)1.7%within the sector's middle half▼ 4.7pp0.2%below the sector's middle half▼ 1.6pp4.1%within the sector's middle half▲ 4.0pp6.5%within the sector's middle half▲ 2.4pp6.6%within the sector's middle half▲ 0.1pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 7% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €221,027
Fixed assets
€1,856 ▼ 35.3%
Current assets
€219,171 ▲ 4.1%
Equity and liabilities €221,027
Equity
€209,500 ▲ 7.5%
Debt
€11,527 ▼ 37.7%
Debt's share of the balance-sheet total falls from 8.7% to 5.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€19,973▲
2024 · €19,903
Cash flow
€15,614▼
2024 · €16,116
Quick ratio
6.40▲
2024 · 3.76
Debt to equity
0.06▼
2024 · 0.09
ROE
7.0%▼
2024 · 7.2%
Interest coverage
96.34▲
2024 · 80.43
Debt ≤ 1 year
€11,527▼
2024 · €18,509
Income taxes
€5,615▲
2024 · €5,211
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,349 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,349 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,617 | €3,617 | €3,864 | €2,171 | €1,014 | ▼ 53.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €394 | - |
| Other operating charges640/8 | - | €283 | €658 | €1,088 | €716 | ▼ 34.1% |
| Gross operating margin9900 | €7,605 | €4,023 | €14,661 | €20,991 | €21,083 | ▲ 0.4% |
| Operating profit (loss)9901 | €3,370 | €123 | €10,139 | €17,732 | €18,958 | ▲ 6.9% |
| Financial income75/76B | - | €1,036 | €1,830 | €1,672 | €1,464 | ▼ 12.4% |
| Recurring financial income75 | €1,718 | €1,036 | €1,830 | €1,672 | €1,464 | ▼ 12.4% |
| Financial charges65/66B | - | €473 | €495 | €247 | €207 | ▼ 16.2% |
| Recurring financial charges65 | €551 | €473 | €495 | €247 | €207 | ▼ 16.2% |
| Profit (loss) for the period before taxes9903 | €4,537 | €687 | €11,473 | €19,156 | €20,215 | ▲ 5.5% |
| Income taxes67/77 | €1,211 | €378 | €3,064 | €5,211 | €5,615 | ▲ 7.8% |
| Profit (loss) for the period9904 | €3,326 | €309 | €8,409 | €13,945 | €14,600 | ▲ 4.7% |
| Profit (loss) for the period to be appropriated9905 | €3,326 | €309 | €8,409 | €13,945 | €14,600 | ▲ 4.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €193,615 | €192,201 | €204,124 | €213,409 | €221,027 | ▲ 3.6% |
| Fixed assets21/28 | €8,465 | €4,848 | €5,042 | €2,871 | €1,856 | ▼ 35.3% |
| Tangible fixed assets22/27 | €8,390 | €4,773 | €4,967 | €2,796 | €1,782 | ▼ 36.3% |
| Plant, machinery and equipment23 | - | - | €3,811 | €2,796 | €1,782 | ▼ 36.3% |
| Furniture and vehicles24 | - | €4,773 | €1,157 | - | - | - |
| Financial fixed assets28 | €74 | €74 | €74 | €74 | €74 | = |
| Current assets29/58 | €185,150 | €187,353 | €199,082 | €210,539 | €219,171 | ▲ 4.1% |
| Stocks and contracts in progress3 | €141,738 | €142,047 | €143,023 | €141,029 | €145,363 | ▲ 3.1% |
| Stocks30/36 | - | €142,047 | €143,023 | €141,029 | €145,363 | ▲ 3.1% |
| Amounts receivable within one year40/41 | €42,781 | €42,301 | €41,212 | €51,058 | €56,704 | ▲ 11.1% |
| Trade receivables40 | - | €475 | €1,032 | €606 | €1,146 | ▲ 89.1% |
| Other amounts receivable41 | - | €41,826 | €40,181 | €50,452 | €55,558 | ▲ 10.1% |
| Cash at bank and in hand54/58 | €631 | €3,004 | €14,666 | €15,552 | €14,094 | ▼ 9.4% |
| Deferred charges and accrued income490/1 | - | - | €182 | €2,900 | €3,010 | ▲ 3.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €193,615 | €192,201 | €204,124 | €213,409 | €221,027 | ▲ 3.6% |
| Equity10/15 | €172,237 | €172,546 | €180,955 | €194,900 | €209,500 | ▲ 7.5% |
| Contributions10/11 | - | €37,184 | €37,184 | €37,184 | €37,184 | = |
| Outside capital11 | - | €37,184 | €37,184 | €37,184 | €37,184 | = |
| Other1109/19 | - | €37,184 | €37,184 | €37,184 | €37,184 | = |
| Reserves13 | €135,053 | €135,362 | €143,771 | €157,716 | €172,316 | ▲ 9.3% |
| Non-distributable reserves130/1 | - | €3,718 | €3,718 | - | - | - |
| Reserves not available under the articles1311 | - | €3,718 | €3,718 | - | - | - |
| Distributable reserves133 | - | €131,644 | €140,053 | €157,716 | €172,316 | ▲ 9.3% |
| Amounts payable17/49 | €21,378 | €19,654 | €23,169 | €18,509 | €11,527 | ▼ 37.7% |
| Amounts payable after more than one year17 | €4,048 | €1,024 | - | - | - | - |
| Financial debts170/4 | - | €1,024 | - | - | - | - |
| Amounts payable within one year42/48 | €17,330 | €18,630 | €23,169 | €18,509 | €11,527 | ▼ 37.7% |
| Current portion of amounts payable after more than one year42 | - | €2,994 | €1,024 | - | - | - |
| Trade debts44 | €10,770 | €15,258 | €19,081 | €13,298 | €5,443 | ▼ 59.1% |
| Suppliers440/4 | - | €15,258 | €19,081 | €13,298 | €5,443 | ▼ 59.1% |
| Taxes, remuneration and social security45 | - | €378 | €3,064 | €5,211 | €6,084 | ▲ 16.8% |
| Taxes450/3 | - | €378 | €3,064 | €5,211 | €5,615 | ▲ 7.8% |
| Remuneration and social security454/9 | - | - | - | - | €469 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,326 | €309 | €8,409 | €13,945 | €14,600 | ▲ 4.7% |
| + Depreciation and write-downs630 | €3,617 | €3,617 | €3,864 | €2,171 | €1,014 | ▼ 53.3% |
| Operating cash flow (approximation) | €6,943 | €3,926 | €12,273 | €16,116 | €15,614 | ▼ 3.1% |
| Investment in fixed assets (approximation) | - | €0 | -€4,058 | €0 | €0 | - |
| Change in cash | - | €2,373 | €11,662 | €886 | -€1,457 | ▼ 265% |
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 2026, expected by
2026
27-02
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-09
Financial
Highest result since 2018net €14,600 ▲4.7%
Operating result €18,958, net result €14,600, both a record.
30-09
Financial
Equity above €200,000Eq €209,500 ▲7.5%
8 profitable years in a row build equity to €209,500.
13-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
20-02
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
27-02
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Weakest financial yearnet €309 ▼90.7%
Net result drops to €309, the lowest in the series; recovery starts the following year.
18-02
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Liquidity doublescurrent ratio 10.68
Current ratio from 5.30 to 10.68; short-term debt falls from €38,078 to €17,330.
09-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
25-02
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
26-02
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
27-02
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
27-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
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, Keerbergen · 1 establishment unit since 1984
Ground area
900 m²
Building footprint
444 m²
Parcel 24048B0341/00L002, Flanders. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Lindenstraat 7, 3140 Keerbergen
since 19842.025.470.757
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24048B0341/00L002 | Flanders | 900 m² | 1 · 444 m² | - |
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
1 ownerChain of control
- V & V Gereedschappen
- VADRO
Highest known parent: V & V Gereedschappen. The sources do not say who stands above it.
Owners 1
- V & V GereedschappenparentSourceown accounts 30-09-2025100%
Holdings 0
The accounts to 30-09-2025 list no holdings, and no other source names one.
According to the annual accounts to 30-09-2025 of VADRO 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.
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Of 1,719 companies in sector 47521 we hold annual accounts for 1,288. 1,001 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
Founded23-10-1984
Fiscal year end30-09
Activities, NACEBEL 2025
47521Retail sale of hardware, building materials, paint and glass (general range)
46841Wholesale trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0426319651
Also
9925:BE0426319651
Registered
21-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.