VAES
ActiveFinancials · financial year 2026, micro format
Annual accounts 2026 filed on 30-09-2026 at the NBB all 25 filings
2022 to 2026, 5 financial years 2019 to 2026, 8 financial years
The operating result for 2026 is a loss of €14,627, smaller than the loss of €15,468 in 2025.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
Use the arrow keys on the chart for the figures per year.
Companies with the same profile, two years later
Historical observationIn July 2024, 974 companies had the same profile as VAES has now. Two years later, 2.3% had gone bankrupt and 92.8% were still going.
- Micro
- 20 years or older
- solvency under 10%
- a small loss
Another 0.4% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of VAES itself is lower: 0.4% within 12 months. It rests on far more data about VAES than the profile alone.
Test of the method
The method was tested on the 497,445 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 974 companies, not a prediction for VAES. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €65,124 | €189 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,979 | €19,546 | €20,486 | €18,295 | €16,777 | €17,043 | €16,719 | €16,755 | ▲ 0.2% |
| Other operating charges640/8 | - | - | - | €3,044 | €3,569 | €2,829 | €2,894 | €2,980 | ▲ 3.0% |
| Gross operating margin9900 | -€2,207 | -€7,009 | -€5,914 | €80,335 | €4,330 | €9,534 | €4,145 | €5,108 | ▲ 23.2% |
| Operating profit (loss)9901 | -€16,508 | -€32,056 | -€29,073 | €58,996 | -€16,016 | -€10,338 | -€15,468 | -€14,627 | ▲ 5.4% |
| Financial income75/76B | - | - | - | - | - | - | - | €8 | - |
| Recurring financial income75 | - | - | - | - | - | - | - | €8 | - |
| Financial charges65/66B | - | - | - | €38 | €1,491 | €1,612 | €1,458 | €1,725 | ▲ 18.3% |
| Recurring financial charges65 | €48 | €26 | €31 | €38 | €1,491 | €1,612 | €1,458 | €1,725 | ▲ 18.3% |
| Profit (loss) for the period before taxes9903 | -€16,556 | -€32,082 | -€29,104 | €58,958 | -€17,507 | -€11,950 | -€16,926 | -€16,344 | ▲ 3.4% |
| Transfer from deferred taxes780 | - | - | - | €3,808 | €19,590 | €3,808 | €3,809 | €3,808 | = |
| Transfer to deferred taxes680 | - | - | - | €15,781 | - | - | - | - | - |
| Income taxes67/77 | €899 | €667 | €662 | €625 | €717 | €747 | €700 | €679 | ▼ 3.0% |
| Profit (loss) for the period9904 | -€15,669 | -€28,941 | -€25,958 | €46,360 | €1,366 | -€8,889 | -€13,817 | -€13,215 | ▲ 4.4% |
| Transfer from tax-exempt reserves789 | - | - | - | €7,396 | €54,738 | €7,396 | €7,396 | €7,396 | = |
| Transfer to tax-exempt reserves689 | - | - | - | €47,343 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€12,201 | -€21,545 | -€18,562 | €6,413 | €56,104 | -€1,493 | -€6,421 | -€5,819 | ▲ 9.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €378,868 | €553,790 | €555,267 | €454,603 | €437,227 | €424,771 | €410,357 | €393,353 | ▼ 4.1% |
| Fixed assets21/28 | €378,607 | €539,634 | €555,129 | €453,830 | €436,518 | €421,637 | €407,453 | €390,872 | ▼ 4.1% |
| Tangible fixed assets22/27 | €378,607 | €539,634 | €555,129 | €453,830 | €436,518 | €421,637 | €407,453 | €390,872 | ▼ 4.1% |
| Land and buildings22 | - | - | - | €440,443 | €429,503 | €416,185 | €402,871 | €387,141 | ▼ 3.9% |
| Plant, machinery and equipment23 | - | - | - | €3,939 | €3,361 | €2,783 | €2,306 | €1,849 | ▼ 19.8% |
| Furniture and vehicles24 | - | - | - | €9,448 | €3,654 | €2,669 | €2,276 | €1,882 | ▼ 17.3% |
| Current assets29/58 | €261 | €14,156 | €138 | €773 | €709 | €3,134 | €2,904 | €2,481 | ▼ 14.6% |
| Amounts receivable within one year40/41 | - | - | - | - | €6 | - | - | €21 | - |
| Trade receivables40 | - | - | - | - | €6 | - | - | - | - |
| Other amounts receivable41 | - | - | - | - | - | - | - | €21 | - |
| Cash at bank and in hand54/58 | €261 | €14,156 | €138 | €773 | €613 | €1,012 | €721 | €247 | ▼ 65.7% |
| Deferred charges and accrued income490/1 | - | - | - | - | €90 | €2,122 | €2,183 | €2,213 | ▲ 1.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €378,868 | €553,790 | €555,267 | €454,603 | €437,227 | €424,771 | €410,357 | €393,353 | ▼ 4.1% |
| Equity10/15 | €78,790 | €49,849 | €23,891 | €70,251 | €71,617 | €62,727 | €48,910 | €35,695 | ▼ 27.0% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €211,900 | €204,504 | €197,108 | €237,055 | €182,317 | €174,920 | €167,524 | €160,128 | ▼ 4.4% |
| Non-distributable reserves130/1 | - | - | - | €431 | €431 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €431 | €431 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €236,624 | €181,886 | €174,490 | €167,094 | €159,698 | ▼ 4.4% |
| Distributable reserves133 | - | - | - | - | - | €430 | €430 | €430 | = |
| Profit (loss) carried forward14 | -€139,310 | -€160,855 | -€179,417 | -€173,004 | -€116,900 | -€118,393 | -€124,814 | -€130,633 | ▼ 4.7% |
| Provisions and deferred taxes16 | €108,890 | €105,082 | €101,273 | €113,246 | €93,657 | €89,849 | €86,040 | €82,232 | ▼ 4.4% |
| Deferred taxes168 | - | - | - | €113,246 | €93,657 | €89,849 | €86,040 | €82,232 | ▼ 4.4% |
| Amounts payable17/49 | €191,188 | €398,859 | €430,103 | €271,106 | €271,953 | €272,195 | €275,407 | €275,426 | = |
| Amounts payable within one year42/48 | €191,188 | €398,859 | €430,103 | €271,106 | €271,271 | €271,503 | €275,407 | €275,426 | = |
| Trade debts44 | €888 | - | €2,268 | €987 | - | €430 | €229 | €117 | ▼ 48.9% |
| Suppliers440/4 | - | - | - | €987 | - | €430 | €229 | €117 | ▼ 48.9% |
| Taxes, remuneration and social security45 | - | - | - | €625 | €1,341 | €87 | - | - | - |
| Taxes450/3 | - | - | - | €625 | €1,341 | €87 | - | - | - |
| Other amounts payable47/48 | - | - | - | €269,494 | €269,930 | €270,986 | €275,178 | €275,309 | = |
| Accrued charges and deferred income492/3 | - | - | - | - | €682 | €692 | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€15,669 | -€28,941 | -€25,958 | €46,360 | €1,366 | -€8,889 | -€13,817 | -€13,215 | ▲ 4.4% |
| + Depreciation and write-downs630 | €11,979 | €19,546 | €20,486 | €18,295 | €16,777 | €17,043 | €16,719 | €16,755 | ▲ 0.2% |
| Operating cash flow (approximation) | -€3,690 | -€9,395 | -€5,472 | €64,655 | €18,143 | €8,154 | €2,902 | €3,540 | ▲ 22.0% |
| Investment in fixed assets (approximation) | - | -€180,573 | -€35,981 | €83,004 | €535 | -€2,162 | -€2,535 | -€174 | ▲ 93.1% |
| Change in cash | - | €13,895 | -€14,018 | €635 | -€160 | €399 | -€291 | -€474 | ▼ 62.9% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 30-09-2026 | 2026-00539151 | NBB |
| 31-03-2025 | micro format | 09-10-2025 | 2025-00537190 | |
| 31-03-2024 | micro format | 09-10-2024 | 2024-00501211 | |
| 31-03-2023 | micro format | 29-09-2023 | 2023-00464776 | |
| 31-03-2022 | micro format | 04-10-2022 | 2022-20449518 | |
| 31-03-2021 | micro format | 30-11-2021 | 2021-78700587 | |
| 31-03-2020 | micro format | 07-12-2020 | 2020-74700337 | |
| 31-03-2019 | micro format | 26-11-2019 | 2019-74500235 | |
| 31-03-2018 | micro format | 15-11-2018 | 2018-72100374 | |
| 31-03-2017 | micro format | 13-11-2017 | 2017-69400470 |