VAES
ActiveSummary
VAES has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €502,315 and a net result of €13,700. Equity remains stable across the filed fiscal years (±1.7% per year). The computed 12-month bankruptcy probability is 0.5% (low).
Overview
What they do
Activity not known1 site
How big
€509,154total assets 2025
- Equity
- €502,315
- Profit
- €13,700
Turnover not published (abridged schema)
Who decides
Accounts 105 d early0 of 9 deeds read
Why 78- No NACE activity registered+ Long track record+ Annual accounts: healthy financial profileLatest accounts filed on timeShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability72▲+55
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35,000 at 30 days acceptable
Liquidity ample (current ratio 63.88; short-term debt: 0.5% and cash: 10.1% of total assets), and 1.3% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
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
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
98.7%
Return on assets
2.7%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-04-2026, 105 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
105 d early
2024
148 d early
2023
103 d early
2022
117 d early
2021
34 d early
2020
115 d early
2019
58 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 97 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
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. Usually files around 17 April (4 of the last 5 filed years within 43 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · micro…
- Back to profitnet €13,700
- Equity above €500,000Eq €502,315 ▲2.8%
Financials
Fiscal year 2025Total assets €509,154Profit €13,700Solvency 98.7%Liquidity 63.88
Total assets
€509,154▲ 3.3%
2018 - 2025
Net result
€13,700
2018 - 2025
Equity
€502,315▲ 2.8%
2018 - 2025
Solvency
98.7%▼ 0.5pp
2018 - 2025
Financials · fiscal year 2025, micro schema
Trend over the years
Trend over the years
In euros
In euros
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€27,552-€7,329▲ 73.4%€2,148-€13,718€9,207
Net result-€27,415-€7,491▲ 72.7%€4,595-€7,638€13,700
Equity€501,549▼ 5.2%€492,857▼ 1.7%€496,252▲ 0.7%€488,615▼ 1.5%€502,315▲ 2.8%
Total assets€503,604▼ 9.6%€498,364▼ 1.0%€497,622▼ 0.1%€492,756▼ 1.0%€509,154▲ 3.3%
Debt€2,056▼ 92.8%€5,507▲ 168%€1,369▼ 75.1%€4,141▲ 202%€6,839▲ 65.2%
Working capital€133,799▼ 17.0%€125,107▼ 6.5%€128,502▲ 2.7%€136,915▲ 6.5%€164,390▲ 20.1%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €9,207 after a loss of €13,718 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €509,154
Fixed assets
€342,150 ▼ 3.6%
Current assets
€167,004 ▲ 21.2%
Equity and liabilities €509,154
Equity
€502,315 ▲ 2.8%
Debt
€6,839 ▲ 65.2%
Debt's share of the balance-sheet total rises from 0.8% to 1.3%. Equity and debt are higher.
Key figures and ratios
Key figures and ratios
EBITDA
€22,007▲
2024 · -€918
Cash flow
€26,500▲
2024 · €5,162
Current ratio
63.88
Debt to equity
0.01▲
2024 · 0.01
ROE
2.7%▲
2024 · -1.6%
ROA
2.7%▲
2024 · -1.6%
Interest coverage
112.25▲
2024 · -3.60
Debt ≤ 1 year
€2,614▲
2024 · €891
Income taxes
€1,370
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,732 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 14,732 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.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €12,800 | €12,800 | = |
| Other operating charges640/8 | €525 | €531 | €727 | €596 | €661 | ▲ 10.9% |
| Gross operating margin9900 | -€27,027 | -€6,798 | €2,875 | -€322 | €22,668 | ▲ 7,151% |
| Operating profit (loss)9901 | -€27,552 | -€7,329 | €2,148 | -€13,718 | €9,207 | ▲ 167% |
| Financial income75/76B | - | - | €2,715 | €6,335 | €6,059 | ▼ 4.3% |
| Recurring financial income75 | - | - | €2,715 | €6,335 | €6,059 | ▼ 4.3% |
| Financial charges65/66B | €206 | €162 | €268 | €255 | €196 | ▼ 23.0% |
| Recurring financial charges65 | €206 | €162 | €268 | €255 | €196 | ▼ 23.0% |
| Profit (loss) for the period before taxes9903 | -€27,758 | -€7,491 | €4,595 | -€7,638 | €15,070 | ▲ 297% |
| Income taxes67/77 | -€343 | - | - | - | €1,370 | - |
| Profit (loss) for the period9904 | -€27,415 | -€7,491 | €4,595 | -€7,638 | €13,700 | ▲ 279% |
| Profit (loss) for the period to be appropriated9905 | -€27,415 | -€7,491 | €4,595 | -€7,638 | €13,700 | ▲ 279% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €503,604 | €498,364 | €497,622 | €492,756 | €509,154 | ▲ 3.3% |
| Fixed assets21/28 | €367,750 | €367,750 | €367,750 | €354,950 | €342,150 | ▼ 3.6% |
| Tangible fixed assets22/27 | €367,750 | €367,750 | €367,750 | €354,950 | €342,150 | ▼ 3.6% |
| Land and buildings22 | €303,750 | €303,750 | €303,750 | €303,750 | €303,750 | = |
| Furniture and vehicles24 | €64,000 | €64,000 | €64,000 | €51,200 | €38,400 | ▼ 25.0% |
| Current assets29/58 | €135,854 | €130,614 | €129,872 | €137,806 | €167,004 | ▲ 21.2% |
| Amounts receivable within one year40/41 | €16,872 | €779 | €103,648 | €109,138 | €115,388 | ▲ 5.7% |
| Other amounts receivable41 | €16,872 | €779 | €103,648 | €109,138 | €115,388 | ▲ 5.7% |
| Cash at bank and in hand54/58 | €118,983 | €129,835 | €26,223 | €28,668 | €51,616 | ▲ 80.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €503,604 | €498,364 | €497,622 | €492,756 | €509,154 | ▲ 3.3% |
| Equity10/15 | €501,549 | €492,857 | €496,252 | €488,615 | €502,315 | ▲ 2.8% |
| Contributions10/11 | €49,579 | €49,579 | €49,579 | €49,579 | €49,579 | = |
| Reserves13 | €451,970 | €443,279 | €446,674 | €439,036 | €452,736 | ▲ 3.1% |
| Non-distributable reserves130/1 | €4,958 | €4,958 | €0 | - | - | - |
| Reserves not available under the articles1311 | €4,958 | €4,958 | €0 | - | - | - |
| Distributable reserves133 | €447,012 | €438,321 | €446,674 | €439,036 | €452,736 | ▲ 3.1% |
| Profit (loss) carried forward14 | - | - | €0 | €0 | - | - |
| Amounts payable17/49 | €2,056 | €5,507 | €1,369 | €4,141 | €6,839 | ▲ 65.2% |
| Amounts payable within one year42/48 | €2,056 | €5,507 | €1,369 | €891 | €2,614 | ▲ 193% |
| Trade debts44 | €2,056 | €4,307 | €169 | €891 | €1,244 | ▲ 39.7% |
| Suppliers440/4 | €2,056 | €4,307 | €169 | €891 | €1,244 | ▲ 39.7% |
| Taxes, remuneration and social security45 | - | - | - | - | €1,370 | - |
| Taxes450/3 | - | - | - | - | €1,370 | - |
| Other amounts payable47/48 | - | €1,200 | €1,200 | €0 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €3,250 | €4,225 | ▲ 30.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€27,415 | -€7,491 | €4,595 | -€7,638 | €13,700 | ▲ 279% |
| + Depreciation and write-downs630 | - | - | - | €12,800 | €12,800 | = |
| Operating cash flow (approximation) | -€27,415 | -€7,491 | €4,595 | €5,162 | €26,500 | ▲ 413% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €10,852 | -€103,611 | €2,444 | €22,949 | ▲ 839% |
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
20 eventsLatest 17-04-2026Next filing 31-07-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
17-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €13,700
Net result €13,700 after one loss-making year.
31-12
Financial
Equity above €500,000Eq €502,315 ▲2.8%
Equity rises from €488,615 to €502,315.
05-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
19-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €4,595
Net result €4,595 after 2 loss-making years.
31-12
Financial
Liquidity quadruplescurrent ratio 94.84
Current ratio from 23.72 to 94.84; short-term debt falls from €5,507 to €1,369.
05-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet -€27,415
Net result drops to -€27,415, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 10current ratio 66.09
Current ratio from 6.68 to 66.09; short-term debt falls from €28,370 to €2,056.
07-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Show earlier events
2020
31-12
Financial
Highest result since 2018net €117,460 ▲697%
Operating result €172,569, net result €117,460, both a record.
31-12
Financial
Equity above €500,000Eq €528,963 ▲28.5%
2 profitable years in a row build equity to €528,963.
03-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €14,746
Net result €14,746 after one loss-making year.
31-12
Financial
Liquidity quadruplescurrent ratio 31.98
Current ratio from 7.42 to 31.98; short-term debt falls from €22,438 to €6,544.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
13-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
19-05
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 9 acts read
About the unread acts
We know of 9 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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Company details
Private limited company · founded 15-04-1983Year ends 31-12Peppol reachable1 site
Register details
Identification
Legal formPrivate limited company
Founded15-04-1983
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0423947309
Also
9925:BE0423947309
Registered
30-06-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Wuustwezel · 1 establishment unit since 1983
Ground area
1,061 m²
Building footprint
248 m²
Volume, LiDAR
1,228 m³
Parcel 11026E0479/00K000, Flanders · tallest building 7.0 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Kruisdreef 11, 2990 Wuustwezel
since 1983unit no. 2.022.262.730
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11026E0479/00K000 | Flanders | 1,061 m² | 1 · 248 m² | 7.0 m · 2 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.
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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