Equity
VALIDATECH has made a profit in every financial year since 2013.
VALIDATECH has made a profit in every financial year since 2013.
The accounts state no turnover.
More equity than 88% of companies in architecture and engineering. Sector median €63,888 · 11,796 companies.
The dashed line is the sector median: 0.1% across 14,830 companies (NACE 71, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 71, micro). It does better than 53% of them on solvency, 66% on liquidity, 39% on profitability and 55% on growth.
The bankruptcy probability was computed on 07-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 6,049 companies had the same profile as VALIDATECH has now. Each dot stands for 16 companies, two years later.
That fits the bankruptcy probability of VALIDATECH itself: < 0.1% within 12 months.
The method was tested on the 497,447 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 6,049 companies, not a prediction for VALIDATECH. 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.
Liquidity is ample, with a current ratio of 2.62 (2.29 in 2024), above the usual 1.5. Short-term debt is 9.5% and cash 21.8% of total assets. 45% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average on the deadline day. In the sector (NACE 71), the median for financial year 2024 was 8 days before the deadline, and 34% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| VALIDATECH Namur | €566,241 | €93,351 | 55.0% | - |
| HV OPTO Ixelles | €490,347 | €109,093 | 16.2% | - |
| Copperhead Engineering Brecht | €675,671 | €99,717 | 98.9% | - |
| PAGEX Binche | €604,319 | €81,150 | 3.3% | - |
| Klara Tech Brasschaat | €423,196 | €108,439 | 92.9% | - |
| LOW-E Ferrières | €676,871 | €91,917 | 80.0% | - |
| BERTECH Antwerp | €395,546 | €90,080 | 77.5% | - |
These companies have the same main activity as VALIDATECH: other technical testing and analysis (NACE 71209). They are comparable in size and age: total assets between €396,000 and €677,000, founded between 2009 and 2016.
VALIDATECH files the micro format. That format states no turnover. The gross margin rose from €10,044 in 2013 to €93,351 in 2025.
The balance sheet grew most in 2017 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
The turnover shown is an estimate from the gross margin.
Turnover ≈ €200,000. Estimated: probably between €150,000 and €270,000.
Higher than 51% of 11,791 companies in 2025.
Higher than 59% of 11,518 companies in 2025.
Higher than 33% of 11,602 companies in 2025.
Net result: middle half · Equity: top quarter · Balance sheet total: top quarter · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||
20/58 |
566,241 | 575,153 | 580,673 | 571,815 | 554,778 | 546,915 | 577,549 | 573,017 | 577,255 | 81,918 | 107,263 | 94,791 | 55,697 | |
21/28 |
425,822 | 438,851 | 459,749 | 454,725 | 474,931 | 506,474 | 526,089 | 525,748 | 531,546 | 73,156 | 45,451 | 36,534 | 16,099 | |
22/27 |
425,822 | 438,851 | 459,749 | 454,725 | 474,931 | 506,474 | 526,089 | 525,748 | 531,546 | 73,156 | 45,451 | 36,534 | 16,099 | |
22 |
324,112 | 345,270 | 366,427 | 389,231 | 410,388 | 431,546 | 452,703 | 473,861 | 495,018 | - | - | - | - | |
23 |
80,114 | 89,482 | 87,992 | 64,471 | 62,315 | 73,262 | 71,167 | 50,120 | 34,686 | 21,874 | 45,451 | 36,534 | 16,099 | |
24 |
21,596 | 4,100 | 5,330 | 1,022 | 2,228 | 1,666 | 2,219 | 1,768 | 1,843 | 3,468 | - | - | - | |
27 |
- | - | - | - | - | - | - | - | - | 47,814 | - | - | - | |
29/58 |
140,419 | 136,302 | 120,924 | 117,090 | 79,847 | 40,442 | 51,460 | 47,269 | 45,708 | 8,762 | 61,811 | 58,256 | 39,597 | |
40/41 |
15,698 | 18,146 | 11,263 | 8,233 | 8,233 | 8,233 | 13,678 | 7,865 | 7,865 | 1,210 | 20,583 | 49,101 | 37,427 | |
40 |
9,739 | 8,596 | 8,475 | 5,445 | 5,445 | 5,445 | 10,890 | 7,865 | 7,865 | 1,210 | 18,089 | 43,416 | 37,427 | |
41 |
5,959 | 9,550 | 2,788 | 2,788 | 2,788 | 2,788 | 2,788 | - | - | - | 2,494 | 5,685 | - | |
54/58 |
123,579 | 116,543 | 108,096 | 107,387 | 70,248 | 30,993 | 36,585 | 38,200 | 37,774 | 7,552 | 41,228 | 9,155 | 2,171 | |
490/1 |
1,142 | 1,613 | 1,566 | 1,470 | 1,366 | 1,216 | 1,197 | 1,204 | 70 | - | - | - | - | |
| Balance sheet: equity and liabilities | ||||||||||||||
10/49 |
566,241 | 575,153 | 580,673 | 571,815 | 554,778 | 546,915 | 577,549 | 573,017 | 577,255 | 81,918 | 107,263 | 94,791 | 55,697 | |
10/15 |
311,336 | 285,983 | 250,068 | 211,548 | 172,995 | 140,145 | 117,156 | 88,365 | 47,800 | 39,521 | 31,010 | 10,394 | 11,895 | |
10/11 |
7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | |
100 |
- | - | - | - | - | - | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | |
101 |
- | - | - | - | - | - | 11,550 | 11,550 | 11,550 | 11,550 | 11,550 | 11,550 | 11,550 | |
13 |
235,893 | 210,541 | 174,626 | 136,106 | 97,552 | 64,703 | 41,713 | 40,800 | 40,800 | 1,855 | 1,855 | 1,855 | 1,855 | |
130/1 |
- | - | - | - | - | 0 | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | |
1311 |
- | - | - | - | - | 0 | - | - | - | - | - | - | - | |
133 |
235,893 | 210,541 | 174,626 | 136,106 | 97,552 | 64,703 | 39,858 | 38,945 | 38,945 | - | - | - | - | |
14 |
68,442 | 68,442 | 68,442 | 68,442 | 68,442 | 68,442 | 68,442 | 40,564 | - | 30,666 | 22,155 | 1,539 | 3,040 | |
17/49 |
254,906 | 289,170 | 330,605 | 360,267 | 381,784 | 406,770 | 460,393 | 484,653 | 529,454 | 42,397 | 76,253 | 84,397 | 43,802 | |
17 |
194,252 | 229,697 | 264,660 | 299,148 | 333,167 | 366,724 | 399,826 | 432,477 | 462,018 | 949 | 12,111 | 3,358 | 8,897 | |
170/4 |
194,252 | 229,697 | 264,660 | 299,148 | 333,167 | 366,724 | 399,826 | 432,477 | 462,018 | 949 | 12,111 | 3,358 | 8,897 | |
42/48 |
53,654 | 59,473 | 65,945 | 61,119 | 48,616 | 40,045 | 60,568 | 52,175 | 67,436 | 41,448 | 64,142 | 81,039 | 34,905 | |
42 |
35,445 | 34,963 | 34,488 | 34,020 | 33,557 | 33,101 | 32,652 | 32,208 | 35,387 | 11,162 | 14,104 | 5,539 | 5,275 | |
44 |
6,772 | 7,905 | 18,462 | 10,343 | 4,539 | 1,005 | 19,100 | 1,088 | 18,959 | 12,137 | 39,537 | 39,867 | 24,587 | |
440/4 |
6,772 | 7,905 | 18,462 | 10,343 | 4,539 | 1,005 | 19,100 | 1,088 | 18,959 | 12,137 | 39,537 | 39,867 | 24,587 | |
45 |
9,373 | 14,825 | 11,215 | 15,049 | 10,520 | 5,939 | 8,816 | 18,879 | 13,090 | 18,150 | 10,502 | 19,283 | 2,715 | |
450/3 |
9,373 | 14,825 | 11,215 | 15,049 | 10,520 | 5,939 | 8,816 | 18,879 | 13,090 | 18,150 | 10,502 | 19,283 | 2,715 | |
47/48 |
2,064 | 1,780 | 1,780 | 1,708 | - | - | - | - | - | - | - | 16,350 | 2,328 | |
492/3 |
7,000 | - | - | - | - | - | - | - | - | - | - | 0 | - | |
| Income statement | ||||||||||||||
76A |
- | 0 | 899 | 0 | 1,060 | - | - | 667 | - | - | - | - | - | |
9900 |
93,351 | 101,146 | 101,068 | 97,437 | 91,741 | 79,086 | 92,827 | 110,181 | 87,089 | 73,934 | 56,346 | 47,533 | 10,044 | |
62 |
- | 0 | -0 | - | - | 0 | -70 | 57 | 1,438 | - | - | - | - | |
630 |
45,290 | 39,043 | 34,012 | 30,943 | 33,566 | 35,397 | 41,724 | 40,572 | 58,204 | 26,110 | 23,837 | 12,920 | 2,395 | |
640/8 |
5,745 | 5,214 | 4,458 | 4,338 | 4,239 | 4,105 | 3,700 | 3,547 | 2,901 | 605 | - | 111 | - | |
66A |
- | 0 | 1,060 | - | - | - | - | - | - | - | - | - | - | |
9901 |
42,316 | 56,889 | 61,538 | 62,156 | 53,937 | 39,584 | 47,473 | 66,005 | 24,547 | 47,220 | 32,509 | 34,502 | 7,649 | |
75/76B |
- | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
75 |
- | 0 | 0 | - | - | - | - | - | - | - | - | - | - | |
65/66B |
3,703 | 4,146 | 4,830 | 4,975 | 5,544 | 5,871 | 6,297 | 6,734 | 6,043 | 994 | 1,390 | 609 | 315 | |
65 |
3,703 | 4,146 | 4,830 | 4,975 | 5,544 | 5,871 | 6,297 | 6,734 | 6,043 | 994 | 1,390 | 609 | 315 | |
9903 |
38,613 | 52,744 | 56,708 | 57,181 | 48,393 | 33,713 | 41,176 | 59,272 | 18,504 | 46,226 | 31,118 | 33,893 | 7,334 | |
67/77 |
13,260 | 16,829 | 18,187 | 18,628 | 15,544 | 10,723 | 12,385 | 18,707 | 10,224 | 15,715 | 10,502 | 11,394 | 2,439 | |
9904 |
25,353 | 35,915 | 38,521 | 38,553 | 32,849 | 22,990 | 28,791 | 40,564 | 8,280 | 30,511 | 20,616 | 22,499 | 4,895 | |
9905 |
25,353 | 35,915 | 38,521 | 38,553 | 32,849 | 22,990 | 28,791 | 40,564 | 8,280 | 30,511 | 20,616 | 22,499 | 4,895 | |
| Appropriation of the result | ||||||||||||||
9906 |
93,795 | 104,357 | 106,963 | 106,996 | 101,291 | 91,432 | 69,355 | 40,564 | 38,945 | 52,666 | 22,155 | 25,539 | 4,895 | |
14P |
68,442 | 68,442 | 68,442 | 68,442 | 68,442 | - | - | - | - | - | - | - | - | |
791/2 |
- | - | - | - | - | 0 | 38,945 | - | - | - | - | - | - | |
691/2 |
25,353 | 35,915 | 38,521 | 38,553 | 32,849 | 22,990 | 39,858 | - | 38,945 | - | - | - | 1,855 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | 1,855 | |
6921 |
25,353 | 35,915 | 38,521 | 38,553 | 32,849 | 22,990 | 39,858 | - | 38,945 | - | - | - | - | |
694/7 |
- | - | - | - | - | - | - | - | - | 22,000 | - | 24,000 | - | |
694 |
- | - | - | - | - | - | - | - | - | 22,000 | - | 24,000 | - | |
| Document | ||||||||||||||
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 15-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 15-07-2026 | 2026-00299408 | |
| 31-12-2024 | micro format | 28-07-2025 | 2025-00317861 | |
| 31-12-2023 | micro format | 02-07-2024 | 2024-00198927 | |
| 31-12-2022 | micro format | 31-07-2023 | 2023-00298534 | |
| 31-12-2021 | micro format | 26-08-2022 | 2022-20324654 | |
| 31-12-2020 | micro format | 27-07-2021 | 2021-41100220 | |
| 31-12-2019 | micro format | 26-08-2020 | 2020-45400128 | |
| 31-12-2018 | full format | 30-07-2019 | 2019-42000271 | |
| 31-12-2017 | full format | 14-08-2018 | 2018-46600039 | |
| 31-12-2016 | full format | 18-07-2017 | 2017-33400394 | |
| 31-12-2015 | full format | 10-08-2016 | 2016-41900483 | |
| 31-12-2014 | full format | 23-07-2015 | 2015-33700488 | |
| 31-12-2013 | full format | 11-08-2014 | 2014-41900267 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 87,606 | 95,932 | 95,550 | 93,099 | 87,502 | 74,981 | 89,197 | 106,577 | 82,751 | 73,329 | 56,346 | 47,422 | 10,044 | ||
| 70,642 | 74,958 | 72,532 | 69,496 | 66,415 | 58,387 | 70,515 | 81,136 | 66,483 | 56,620 | 44,453 | 35,419 | 7,289 | ||
| 32,261 | 18,145 | 40,683 | 10,737 | 2,023 | 15,782 | 42,065 | 34,107 | 565,408 | 53,814 | 32,754 | 33,355 | 17,451 | ||
| 7,037 | 8,447 | 708 | 37,139 | 39,255 | -5,592 | -1,615 | 426 | 30,221 | -33,676 | 32,073 | 6,984 | - | ||
| 86,765 | 76,828 | 54,979 | 55,971 | 31,231 | 396 | -9,108 | -4,906 | -21,728 | -32,686 | -2,331 | -22,783 | 4,692 | ||
| 55.0% | 49.7% | 43.1% | 37.0% | 31.2% | 25.6% | 20.3% | 15.4% | 8.3% | 48.2% | 28.9% | 11.0% | 21.4% | ||
| 2.62 | 2.29 | 1.83 | 1.92 | 1.64 | 1.01 | 0.85 | 0.91 | 0.68 | 0.21 | 0.96 | 0.72 | 1.13 | ||
| 0.82 | 1.01 | 1.32 | 1.70 | 2.21 | 2.90 | 3.93 | 5.48 | 11.08 | 1.07 | 2.46 | 8.12 | 3.68 | ||
| 8.1% | 12.6% | 15.4% | 18.2% | 19.0% | 16.4% | 24.6% | 45.9% | 17.3% | 77.2% | 66.5% | 216.5% | 41.1% | ||
| 4.5% | 6.2% | 6.6% | 6.7% | 5.9% | 4.2% | 5.0% | 7.1% | 1.4% | 37.2% | 19.2% | 23.7% | 8.8% | ||
| 23.66 | 23.14 | 19.78 | 18.71 | 15.78 | - | - | - | - | - | - | - | - |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €32,261 | €18,145 | €40,683 | €10,737 | €2,023 |
| €45,290 | €39,043 | €34,012 | €30,943 | €33,566 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 26% lower than in 2024 and the lowest since 2020. It is the third fall in a row.
Debt's share of the balance-sheet total falls from 50.3% to 45.0%. Equity is higher and debt is lower.
VALIDATECH has no parent and no holdings in its annual accounts. VALIDATECH shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Rue de Fernelmont 246 registered office 5020 Namur | 23-04-2013 | 2.218.963.189 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 92024C0004/00H005 | 2,106 m² | 1 · 161 m² | 7.6 m · 2 |
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