VAES
ActiveVAES has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €142k and a net result of €20k. Equity is shrinking by ~6.3% per year across the filed fiscal years. Its solvency ranks better than 78% of 7687 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
100
/ 100
Excellent▲ +14 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability70▲+37
Solvency100=
Growth58=
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14k at 30 days acceptable
Liquidity ample (current ratio 2.78 against 2.4 in 2024), and 31.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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 31
Relative position
BE, all sectors
reference
Sector 31
higher
← 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
68.7%
Return on assets
9.7%
Age of the figures
8 mo
lowers risk · Growing equity
Equity grew over 2023-2025. Profits are largely retained rather than distributed.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €142k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-08-2026, 30 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
30 d late
2024
6 d early
2023
14 d late
2022
53 d early
2021
5 d early
2020
19 d early
2019
4 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
14-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€142k▲ 11.9%
2024 · €126k
2018: €242k
2019: €236k
2020: €242k
2021: €265k
2022: €271k
2023: €123k
2024: €126k
2018 → 2025
Total assets
€206k▲ 6.1%
2024 · €194k
2018: €267k
2019: €255k
2020: €256k
2021: €281k
2022: €288k
2023: €231k
2024: €194k
2018 → 2025
Net result
€20k▲ 141%
2024 · €8k
2018: €-20k
2019: €-5k
2020: €6k
2021: €22k
2022: €21k
2023: €21k
2024: €8k
2018 → 2025
Working capital
€115k▲ 20.3%
2024 · €95k
2018: €236k
2019: €234k
2020: €205k
2021: €223k
2022: €230k
2023: €87k
2024: €95k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€265k-€271k▲ 2.2%€123k▼ 54.5%€126k▲ 2.8%€142k▲ 11.9%
Operating result€23k-€29k▲ 26.5%€29k▲ 1.6%€11k▼ 62.3%€25k▲ 128%
Net result€22k-€21k▼ 4.6%€21k▼ 1.1%€8k▼ 61.0%€20k▲ 141%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 128% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €206k
Fixed assets
€27k▼ 13.5%
Current assets
€179k▲ 9.8%
Equity and liabilities €206k
Equity
€142k▲ 11.9%
Debt
€65k▼ 4.9%
The debt ratio falls from 34.9% to 31.3%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€32k▲
2024 · €18k
Cash flow
€27k▲
2024 · €15k
Solvency
68.7%▲
2024 · 65.1%
Current ratio
2.78▲
2024 · 2.40
Quick ratio
2.38▲
2024 · 2.02
Debt / equity
0.46▼
2024 · 0.54
ROE
14.1%▲
2024 · 6.5%
ROA
9.7%▲
2024 · 4.3%
Interest coverage
35.29▼
2024 · 39.78
Debt
€65k▼
2024 · €68k
Debt ≤ 1 year
€65k▼
2024 · €68k
Income taxes
€5k▲
2024 · €3k
Staff costs
€52k▲
2024 · €52k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€194k€206k▲
Fixed assets21/28€31k€27k▼
Tangible fixed assets22/27€31k€27k▼
Plant, machinery and equipment23€26k€21k▼
Furniture and vehicles24€3k€4k▲
Other tangible fixed assets26€2k€2k▼
Financial fixed assets28€161€161=
Current assets29/58€163k€179k▲
Stocks and contracts in progress3€26k€25k▼
Stocks30/36€25k€24k▼
Contracts in progress37€1k€1k▼
Amounts receivable within one year40/41€17k€15k▼
Trade receivables40€8k€8k▼
Other amounts receivable41€9k€7k▼
Cash at bank and in hand54/58€120k€137k▲
Deferred charges and accrued income490/1€612€2k▲
Equity and liabilities
Total equity and liabilities10/49€194k€206k▲
Equity10/15€126k€142k▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€64k€80k▲
Non-distributable reserves130/1€7k€7k=
Legal reserve130€7k€7k=
Distributable reserves133€57k€72k▲
Amounts payable17/49€68k€65k▼
Amounts payable within one year42/48€68k€65k▼
Trade debts44€9k€5k▼
Suppliers440/4€9k€5k▼
Taxes, remuneration and social security45€12k€15k▲
Taxes450/3€3k€8k▲
Remuneration and social security454/9€8k€7k▼
Other amounts payable47/48€48k€44k▼
Accrued charges and deferred income492/3-€21
Income statement
Code20242025
Remuneration, social security and pensions62€52k€52k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€7k▲
Other operating charges640/8€985€769▼
Gross operating margin9900€70k€85k▲
Operating profit (loss)9901€11k€25k▲
Financial income75/76B€965€903▼
Recurring financial income75€965€903▼
Financial charges65/66B€447€916▲
Recurring financial charges65€447€916▲
Profit (loss) for the period before taxes9903€11k€25k▲
Income taxes67/77€3k€5k▲
Profit (loss) for the period9904€8k€20k▲
Profit (loss) for the period to be appropriated9905€8k€20k▲
Appropriation of the result
Profit (loss) to be appropriated9906€8k€20k▲
Transfer from equity791/2€5k-
Transfer to equity691/2€8k€15k▲
To other reserves6921€8k€15k▲
Profit to be distributed694/7€5k€5k=
Return on contributions (dividend)694€5k€5k=
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 30 days late
2025
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
14-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 14 days late
2023
08-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €22k ▲287%
Net result €22k, the highest in the series.
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €6k
Net result €6k after 2 loss-making years.
04-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 4 days late
2019
22-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 22 days late
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
10-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Pelt · 1 establishment unit since 1992
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Kapelstraat 533900 PeltGround area
582 m²
Parcel 72029B0918/00M000, Flanders. Linked by address, not a title deed.
1 establishment unit
VAES NV
since 19922.055.827.797
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72029B0918/00M000 | Flanders | 582 m² | - | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 1,496 companies in sector 31004 we hold annual accounts for 614. 462 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded31-12-1991
Fiscal year end31-12
Activities, NACEBEL
31004Manufacture of dining room, living room, bedroom and bathroom furniture
36141
43320Joinery installation
45421
Sources
Crossroads Bank for EnterprisesNational Bank · 34 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.