VAIN
ActiveSummary
VAIN has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €339k and a net result of €45k. Equity is growing by ~23.5% per year across the filed fiscal years. Its solvency ranks better than 38% of 11389 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability73▼-6
Solvency51=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €22k at 30 days acceptable
Liquidity short (current ratio 0.95 against 0.97 in 2024; short-term debt: 36.3% and cash: 6.2% of total assets), and 73.9% of the assets are financed with debt.
Credit check for your own amount and term
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
26.1%
Return on assets
3.5%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
7 d early
2023
29 d early
2022
28 d late
2021
6 d early
2020
5 d early
2019
7 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€339k▲ 5.3%
2024 · €322k
2018: €29klowest in 8 years
2019: €82k▲ +186% vs 2018
2020: €115k▲ +39.6% vs 2019
2021: €185k▲ +60.9% vs 2020
2022: €186k▲ +1.0% vs 2021
2023: €219k▲ +17.7% vs 2022
2024: €322k▲ +46.8% vs 2023
2025: €339k▲ +5.3% vs 2024highest in 8 years
2018 → 2025
Total assets
€1.30M▲ 3.4%
2024 · €1.25M
2018: €40klowest in 8 years
2019: €277k▲ +589% vs 2018
2020: €978k▲ +253% vs 2019
2021: €1.14M▲ +17.0% vs 2020
2022: €1.07M▼ -6.6% vs 2021
2023: €1.06M▼ -1.0% vs 2022
2024: €1.25M▲ +18.5% vs 2023
2025: €1.30M▲ +3.4% vs 2024highest in 8 years
2018 → 2025
Net result
€45k▼ 56.3%
2024 · €103k
2018: €16k
2019: €54k▲ +248% vs 2018
2020: €33k▼ -38.5% vs 2019
2021: €71k▲ +112% vs 2020
2022: €3k▼ -96.4% vs 2021lowest in 8 years
2023: €33k▲ +1182% vs 2022
2024: €103k▲ +211% vs 2023highest in 8 years
2025: €45k▼ -56.3% vs 2024
2018 → 2025
Working capital
€-21k▼ 83.7%
2024 · €-12k
2018: €30k
2019: €39k▲ +29.0% vs 2018highest in 8 years
2020: €-27k▼ -168% vs 2019
2021: €-54k▼ -102% vs 2020
2022: €-94k▼ -72.5% vs 2021
2023: €-102k▼ -8.8% vs 2022lowest in 8 years
2024: €-12k▲ +88.7% vs 2023
2025: €-21k▼ -83.7% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€185k-€186k▲ 1.0%€219k▲ 17.7%€322k▲ 46.8%€339k▲ 5.3%
2021: €185klowest in 5 years
2022: €186k▲ +1.0% vs 2021
2023: €219k▲ +17.7% vs 2022
2024: €322k▲ +46.8% vs 2023
2025: €339k▲ +5.3% vs 2024highest in 5 years
Operating result€113k-€21k▼ 81.6%€71k▲ 241%€179k▲ 153%€97k▼ 45.6%
2021: €113k
2022: €21k▼ -81.6% vs 2021lowest in 5 years
2023: €71k▲ +241% vs 2022
2024: €179k▲ +153% vs 2023highest in 5 years
2025: €97k▼ -45.6% vs 2024
Net result€71k-€3k▼ 96.4%€33k▲ 1,182%€103k▲ 211%€45k▼ 56.3%
2021: €71k
2022: €3k▼ -96.4% vs 2021lowest in 5 years
2023: €33k▲ +1182% vs 2022
2024: €103k▲ +211% vs 2023highest in 5 years
2025: €45k▼ -56.3% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 46% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.30M
Fixed assets
€848k ▼ 8.6%
Current assets
€450k ▲ 37.4%
Equity and liabilities €1.30M
Equity
€339k ▲ 5.3%
Debt
€959k ▲ 2.8%
Debt's share of the balance-sheet total falls from 74.4% to 73.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€222k▼
2024 · €302k
Cash flow
€169k▼
2024 · €226k
Current ratio
0.95▼
2024 · 0.97
Quick ratio
0.72▲
2024 · 0.66
Debt to equity
2.83▼
2024 · 2.90
ROE
13.2%▼
2024 · 31.9%
ROA
3.5%▼
2024 · 8.2%
Interest coverage
7.91▼
2024 · 10.68
Debt ≤ 1 year
€471k▲
2024 · €339k
Debt > 1 year
€468k▼
2024 · €569k
Income taxes
€24k▼
2024 · €48k
Staff costs
€19k▲
2024 · €18k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 59 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.25M€1.30M▲
Fixed assets21/28€927k€848k▼
Intangible fixed assets21€34k€28k▼
Tangible fixed assets22/27€893k€820k▼
Land and buildings22€633k€599k▼
Plant, machinery and equipment23€184k€140k▼
Furniture and vehicles24€77k€81k▲
Current assets29/58€327k€450k▲
Stocks and contracts in progress3€102k€111k▲
Stocks30/36€102k€111k▲
Amounts receivable within one year40/41€147k€237k▲
Trade receivables40€147k€180k▲
Other amounts receivable41€216€57k▲
Cash at bank and in hand54/58€74k€80k▲
Deferred charges and accrued income490/1€4k€21k▲
Equity and liabilities
Total equity and liabilities10/49€1.25M€1.30M▲
Equity10/15€322k€339k▲
Contributions10/11€19k€19k=
Reserves13€303k€320k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€301k€318k▲
Amounts payable17/49€933k€959k▲
Amounts payable after more than one year17€569k€468k▼
Financial debts170/4€569k€468k▼
Amounts payable within one year42/48€339k€471k▲
Current portion of amounts payable after more than one year42€132k€133k▲
Financial debts43€104k€188k▲
Credit institutions430/8€104k€188k▲
Trade debts44€48k€100k▲
Suppliers440/4€48k€100k▲
Advances received on contracts in progress46€5k€5k=
Taxes, remuneration and social security45€28k€19k▼
Taxes450/3€25k€16k▼
Remuneration and social security454/9€3k€3k▲
Other amounts payable47/48€22k€28k▲
Accrued charges and deferred income492/3€25k€20k▼
Income statement
Code20242025
Non-recurring operating income76A€20k€27k▲
Remuneration, social security and pensions62€18k€19k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€123k€124k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€7k
Other operating charges640/8€13k€19k▲
Non-recurring operating charges66A€6k€17k▲
Gross operating margin9900€339k€283k▼
Operating profit (loss)9901€179k€97k▼
Financial income75/76B€116€80▼
Recurring financial income75€116€80▼
Financial charges65/66B€28k€28k▼
Recurring financial charges65€28k€28k▼
Profit (loss) for the period before taxes9903€151k€69k▼
Income taxes67/77€48k€24k▼
Profit (loss) for the period9904€103k€45k▼
Profit (loss) for the period to be appropriated9905€103k€45k▼
Appropriation of the result
Profit (loss) to be appropriated9906€103k€45k▼
Transfer from equity791/2-€28k
Transfer to equity691/2€103k€45k▼
To other reserves6921€103k€45k▼
Profit to be distributed694/7-€28k
Return on contributions (dividend)694-€28k
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €28k | - | €13k | €20k | €27k | ▲ 33.8% |
| Remuneration, social security and pensions62 | €13k | €20k | €23k | €18k | €19k | ▲ 4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €62k | €74k | €82k | €123k | €124k | ▲ 1.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €7k | - |
| Other operating charges640/8 | €10k | €8k | €10k | €13k | €19k | ▲ 43.4% |
| Non-recurring operating charges66A | €6k | €8k | €320 | €6k | €17k | ▲ 200% |
| Gross operating margin9900 | €204k | €130k | €187k | €339k | €283k | ▼ 16.5% |
| Operating profit (loss)9901 | €113k | €21k | €71k | €179k | €97k | ▼ 45.6% |
| Financial income75/76B | €668 | €106 | €225 | €116 | €80 | ▼ 31.6% |
| Recurring financial income75 | €668 | €106 | €225 | €116 | €80 | ▼ 31.6% |
| Financial charges65/66B | €16k | €18k | €22k | €28k | €28k | ▼ 0.9% |
| Recurring financial charges65 | €16k | €18k | €22k | €28k | €28k | ▼ 0.9% |
| Profit (loss) for the period before taxes9903 | €97k | €3k | €49k | €151k | €69k | ▼ 54.0% |
| Income taxes67/77 | €27k | €257 | €16k | €48k | €24k | ▼ 49.1% |
| Profit (loss) for the period9904 | €71k | €3k | €33k | €103k | €45k | ▼ 56.3% |
| Profit (loss) for the period to be appropriated9905 | €71k | €3k | €33k | €103k | €45k | ▼ 56.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.14M | €1.07M | €1.06M | €1.25M | €1.30M | ▲ 3.4% |
| Fixed assets21/28 | €853k | €780k | €818k | €927k | €848k | ▼ 8.6% |
| Intangible fixed assets21 | €8k | €6k | €3k | €34k | €28k | ▼ 17.1% |
| Tangible fixed assets22/27 | €845k | €774k | €814k | €893k | €820k | ▼ 8.2% |
| Land and buildings22 | €684k | €683k | €667k | €633k | €599k | ▼ 5.4% |
| Plant, machinery and equipment23 | €104k | €80k | €93k | €184k | €140k | ▼ 23.8% |
| Furniture and vehicles24 | €57k | €10k | €55k | €77k | €81k | ▲ 5.4% |
| Current assets29/58 | €292k | €290k | €241k | €327k | €450k | ▲ 37.4% |
| Stocks and contracts in progress3 | €124k | €136k | €106k | €102k | €111k | ▲ 9.1% |
| Stocks30/36 | €124k | €136k | €106k | €102k | €111k | ▲ 9.1% |
| Amounts receivable within one year40/41 | €168k | €154k | €128k | €147k | €237k | ▲ 61.1% |
| Trade receivables40 | €144k | €153k | €121k | €147k | €180k | ▲ 22.3% |
| Other amounts receivable41 | €24k | €1k | €6k | €216 | €57k | ▲ 26,449% |
| Cash at bank and in hand54/58 | - | - | €507 | €74k | €80k | ▲ 8.5% |
| Deferred charges and accrued income490/1 | - | - | €7k | €4k | €21k | ▲ 409% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.14M | €1.07M | €1.06M | €1.25M | €1.30M | ▲ 3.4% |
| Equity10/15 | €185k | €186k | €219k | €322k | €339k | ▲ 5.3% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €166k | €168k | €201k | €303k | €320k | ▲ 5.6% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €164k | €166k | €199k | €301k | €318k | ▲ 5.6% |
| Amounts payable17/49 | €960k | €883k | €839k | €933k | €959k | ▲ 2.8% |
| Amounts payable after more than one year17 | €586k | €497k | €493k | €569k | €468k | ▼ 17.7% |
| Financial debts170/4 | €586k | €497k | €493k | €569k | €468k | ▼ 17.7% |
| Amounts payable within one year42/48 | €346k | €383k | €343k | €339k | €471k | ▲ 39.0% |
| Current portion of amounts payable after more than one year42 | €81k | €73k | €87k | €132k | €133k | ▲ 0.2% |
| Financial debts43 | €75k | €90k | €88k | €104k | €188k | ▲ 79.9% |
| Credit institutions430/8 | €75k | €90k | €88k | €104k | €188k | ▲ 79.9% |
| Trade debts44 | €90k | €150k | €118k | €48k | €100k | ▲ 108% |
| Suppliers440/4 | €90k | €150k | €118k | €48k | €100k | ▲ 108% |
| Advances received on contracts in progress46 | €2k | - | €9k | €5k | €5k | = |
| Taxes, remuneration and social security45 | €32k | €17k | €7k | €28k | €19k | ▼ 33.1% |
| Taxes450/3 | €29k | €11k | €3k | €25k | €16k | ▼ 37.0% |
| Remuneration and social security454/9 | €3k | €7k | €4k | €3k | €3k | ▲ 0.1% |
| Other amounts payable47/48 | €66k | €53k | €33k | €22k | €28k | ▲ 28.5% |
| Accrued charges and deferred income492/3 | €28k | €2k | €4k | €25k | €20k | ▼ 22.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €71k | €3k | €33k | €103k | €45k | ▼ 56.3% |
| + Depreciation and write-downs630 | €62k | €74k | €82k | €123k | €124k | ▲ 1.2% |
| Operating cash flow (approximation) | €133k | €76k | €115k | €226k | €169k | ▼ 25.0% |
| Investment in fixed assets (approximation) | - | €-627 | €-120k | €-233k | €-45k | ▲ 80.7% |
| Change in cash | - | - | - | €73k | €6k | ▼ 91.4% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €103k ▲211%
Operating result €179k, net result €103k, both a record.
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €200kEq €219k ▲17.7%
6 profitable years in a row build equity to €219k.
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
31-12
Financial
Weakest financial yearnet €3k ▼96.4%
Net result drops to €3k, the lowest in the series; recovery starts the following year.
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €150kEq €185k ▲60.9%
4 profitable years in a row build equity to €185k.
26-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €100kEq €115k ▲39.6%
3 profitable years in a row build equity to €115k.
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
29-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
18-05
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 3 acts read
About the unread acts
We know of 3 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
3 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, Lanaken · 1 establishment unit since 2020
Ground area
4,074 m²
Building footprint
2,322 m²
Volume, LiDAR
13,408 m³
Parcel 73042B0222/00P000, Flanders · tallest building 7.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Cosig/ Cosig Rental/ Cosig Soft/ Cosig Immo/ Cosig Sports/ Slide Events/ Ledpromo
since 20202.314.269.253
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73042B0222/00P000 | Flanders | 4,074 m² | 1 · 2,322 m² | 7.7 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.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 560 EUR awarded · 560 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 108 EUR | 560 EUR |
| 2022 | 1 | 452 EUR | 0 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 338 companies in sector 46713 we hold annual accounts for 204. 161 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
Founded13-12-1988
Fiscal year end31-12
Activities, NACEBEL 2025
25110Manufacture of metal structures and parts of structures
46713Wholesale trade
95311General maintenance and repair of cars and light vans (up to 3.5 tonnes)
47400Retail sale of information and communication equipment
77330Rental and leasing activities
Scores and ratios are computed by Checked and are not a credit decision.