VAG

Active

Public limited companyfounded 198442 yrs activeSteenweg op Gierle 228, 2300 Turnhout, BelgiumKBO/BCE: BE 0425.552.559

VAG has been active since 1984 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.26M and a net result of €358k. Equity remains stable across the filed fiscal years (±0% per year). Its solvency ranks better than 51% of 989 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).

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Checked score

Score 2024

68 / 100

Healthy▼ -8 vs 2023

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability100=

Solvency71▲+8

Growth78=

Stability100

Bankruptcy probability, 12 months

0.7% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €85k at 30 days acceptable

Liquidity tight (current ratio 1.05 against 1.02 in 2023), and 53.3% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

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

Sector 47

higher

← fewer bankruptcies more bankruptcies →

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

46.7%

Return on assets

13.2%

Age of the figures

20 mo

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-06-2025, 36 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

36 d early

2023

34 d early

2022

35 d early

2021

32 d early

2020

36 d early

2019

35 d early

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, abbreviated schema

Equity

€1.26M=

2023 · €1.26M

2018: €1.25M 2019: €1.25M 2020: €1.26M 2021: €1.26M 2022: €1.26M 2023: €1.26M

2018 → 2024

Total assets

€2.70M▼ 12.8%

2023 · €3.10M

2018: €2.59M 2019: €2.52M 2020: €2.13M 2021: €2.40M 2022: €2.51M 2023: €3.10M

2018 → 2024

Net result

€358k▼ 9.4%

2023 · €395k

2018: €116k 2019: €123k 2020: €119k 2021: €105k 2022: €167k 2023: €395k

2018 → 2024

Working capital

€58k▲ 146%

2023 · €24k

2018: €262k 2019: €63k 2020: €148k 2021: €71k 2022: €86k 2023: €24k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€1.26M-€1.26M=€1.26M=€1.26M=€1.26M=

Operating result€154k-€108k▼ 29.8%€217k▲ 101%€592k▲ 173%€548k▼ 7.4%

Net result€119k-€105k▼ 11.7%€167k▲ 59.4%€395k▲ 136%€358k▼ 9.4%

Turnover and EBIT margin not published: the abbreviated schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result falls in 2024; 2024 is 7% below 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €2.70M

53.3%

46.7%

Fixed assets €1.44M▼ 13.4%

Current assets €1.26M▼ 12.0%

Equity and liabilities €2.70M

46.7%

53.3%

Equity €1.26M=

Debt €1.44M▼ 21.6%

The debt ratio falls from 59.3% to 53.3%: debt is paid down.

Key figures and ratios

2024 value · change against 2023

EBITDA

€1.02M▼

2023 · €1.05M

Cash flow

€831k▼

2023 · €855k

Solvency

46.7%▲

2023 · 40.7%

Current ratio

1.05▲

2023 · 1.02

Quick ratio

0.20▼

2023 · 0.41

Debt / equity

1.14▼

2023 · 1.46

ROE

28.4%▼

2023 · 31.3%

ROA

13.2%▲

2023 · 12.7%

Interest coverage

16.54▼

2023 · 17.70

Debt

€1.44M▼

2023 · €1.84M

Debt ≤ 1 year

€1.20M▼

2023 · €1.41M

Debt > 1 year

€239k▼

2023 · €428k

Income taxes

€129k▼

2023 · €142k

Staff costs

€986k▲

2023 · €969k

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 · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€3.10M€2.70M▼

Fixed assets21/28€1.67M€1.44M▼

Tangible fixed assets22/27€1.66M€1.44M▼

Land and buildings22€18k€12k▼

Plant, machinery and equipment23€247k€182k▼

Furniture and vehicles24€1.40M€1.24M▼

Financial fixed assets28€7k€7k=

Current assets29/58€1.43M€1.26M▼

Stocks and contracts in progress3€862k€1.02M▲

Stocks30/36€862k€1.02M▲

Amounts receivable within one year40/41€260k€96k▼

Trade receivables40€200k€79k▼

Other amounts receivable41€61k€17k▼

Cash at bank and in hand54/58€203k€94k▼

Deferred charges and accrued income490/1€109k€56k▼

Equity and liabilities

Total equity and liabilities10/49€3.10M€2.70M▼

Equity10/15€1.26M€1.26M=

Contributions10/11€62k€62k=

Capital10€62k€62k=

Issued capital100€62k€62k=

Reserves13€946k€946k=

Non-distributable reserves130/1€6k€6k=

Legal reserve130€6k€6k=

Tax-exempt reserves132€19k€19k=

Distributable reserves133€921k€921k=

Profit (loss) carried forward14€254k€254k=

Amounts payable17/49€1.84M€1.44M▼

Amounts payable after more than one year17€428k€239k▼

Financial debts170/4€428k€239k▼

Amounts payable within one year42/48€1.41M€1.20M▼

Current portion of amounts payable after more than one year42€203k€206k▲

Financial debts43€350k€150k▼

Credit institutions430/8€350k€150k▼

Trade debts44€67k-

Suppliers440/4€67k-

Taxes, remuneration and social security45€396k€377k▼

Taxes450/3€270k€247k▼

Remuneration and social security454/9€125k€129k▲

Other amounts payable47/48€395k€471k▲

Income statement Code20232024

Remuneration, social security and pensions62€969k€986k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€460k€473k▲

Other operating charges640/8€86k€94k▲

Gross operating margin9900€2.11M€2.10M▼

Operating profit (loss)9901€592k€548k▼

Financial income75/76B€4k€1k▼

Recurring financial income75€4k€1k▼

Financial charges65/66B€59k€62k▲

Recurring financial charges65€59k€62k▲

Profit (loss) for the period before taxes9903€537k€487k▼

Income taxes67/77€142k€129k▼

Profit (loss) for the period9904€395k€358k▼

Profit (loss) for the period to be appropriated9905€395k€358k▼

Appropriation of the result

Profit (loss) to be appropriated9906€649k€612k▼

Profit (loss) brought forward from the previous period14P€254k€254k=

Profit to be distributed694/7€395k€358k▼

Return on contributions (dividend)694€395k€358k▼

Social balance

Average headcount (FTE)908715.915.9=

The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 12Financial 2Filings 10

2025

25-06

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

27-06

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2023

31-12

Financial Highest result since 2018net €395k ▲136%

Operating result €592k, net result €395k, both a record.

26-06

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2022

29-06

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

2021

31-12

Financial Weakest financial yearnet €105k ▼11.7%

Net result drops to €105k, the lowest in the series; recovery starts the following year.

25-06

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2020

26-06

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2019

24-06

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2018

25-06

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2017

28-06

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

2016

13-06

NBB filing Annual accounts filed

fiscal year 2015 · abbreviated schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

4 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, Turnhout · 4 establishment units since 1984

establishment All 4 establishment units on the map

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.

Steenweg op Gierle 2282300 Turnhout

Ground area

9,686 m²

Building footprint

3,056 m²

Volume, LiDAR

17,376 m³

4 parcels, Flanders · tallest building 8.4 m, ±2 floors. Linked by address, not a title deed.

4 establishment units

Steenweg op Gierle 228, 2300 Turnhout

NACE 5010401

since 19842.024.349.121

VAG

Visbeekstraat 3, 2300 TurnhoutNACE 4520101

since 20172.261.246.974

Kempische steenweg 610, 3500 Hasselt

NACE 45206

since 20222.327.683.363

Heuveneindeweg 78, 3520 Zonhoven

Renting and leasing of cars and light motor vehicles

since 20222.327.683.462

4 parcels

Flanders 4 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
13453O0904/00X010	Flanders	5,182 m²	1 · 1,679 m²	6.2 m · 2 fl.
13453O0921/00A000	Flanders	3,008 m²	1 · 1,147 m²	7.8 m · 2 fl.
71443F0687/00V000	Flanders	817 m²	1 · 212 m²	8.4 m · 2 fl.
71327G0033/00E000	Flanders	679 m²	1 · 18 m²	-