VALORENCO
ActiveSummary
The computed 12-month bankruptcy probability of VALORENCO is 2.7% (moderate). The 2024 annual accounts show negative equity (-€203,318) and a net result of -€45,029. Equity is shrinking by ~50.7% per year across the filed fiscal years. The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability0=
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
2.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.11 against 0.16 in 2023; short-term debt: 349.6% and cash: 12.2% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-435.9%
Return on assets
-96.5%
Age of the figures
21 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 38
Relative position
BE, all sectors
reference
Waste collection, recovery and disposal activities (NACE 38)
about 10% 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 11-06-2026, 50 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
50 d early
2024
31 d early
2023
8 d early
2022
55 d early
2021
30 d early
2020
57 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 39 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% of the sector filed late.
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. Usually files around 30 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2024, micro schema
Equity
-€203,318▼ 28.4%
2023 · -€158,289
Total assets
€46,645▼ 17.7%
2023 · €56,673
Net result
-€45,029▲ 32.3%
2023 · -€66,484
Working capital
-€144,550▼ 19.7%
2023 · -€120,720
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 38, Waste collection, recovery and disposal activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€79,498--€31,070▲ 60.9%-€42,925▼ 38.2%-€66,410▼ 54.7%-€44,823▲ 32.5%
Net result-€79,614below the sector's middle half--€31,126below the sector's middle half▲ 60.9%-€42,565below the sector's middle half▼ 36.8%-€66,484below the sector's middle half▼ 56.2%-€45,029below the sector's middle half▲ 32.3%
Equity-€18,114below the sector's middle half--€49,240below the sector's middle half▼ 172%-€91,804below the sector's middle half▼ 86.4%-€158,289below the sector's middle half▼ 72.4%-€203,318below the sector's middle half▼ 28.4%
Total assets€66,370below the sector's middle half-€62,768below the sector's middle half▼ 5.4%€78,211within the sector's middle half▲ 24.6%€56,673below the sector's middle half▼ 27.5%€46,645below the sector's middle half▼ 17.7%
Debt€84,484-€112,008▲ 32.6%€170,016▲ 51.8%€214,962▲ 26.4%€249,963▲ 16.3%
Working capital€14,723within the sector's middle half--€2,527within the sector's middle half-€68,239below the sector's middle half▼ 2,600%-€120,720below the sector's middle half▼ 76.9%-€144,550below the sector's middle half▼ 19.7%
Solvency-27.3%below the sector's middle half--78.4%below the sector's middle half▼ 51.2pp-117.4%below the sector's middle half▼ 38.9pp-279.3%below the sector's middle half▼ 161.9pp-435.9%below the sector's middle half▼ 156.6pp
Current ratio1.99above the sector's middle half-0.92within the sector's middle half▼ 1.070.31below the sector's middle half▼ 0.610.16below the sector's middle half▼ 0.160.11below the sector's middle half▼ 0.04
Return on assets (ROA)-120.0%below the sector's middle half--49.6%below the sector's middle half▲ 70.4pp-54.4%below the sector's middle half▼ 4.8pp-117.3%below the sector's middle half▼ 62.9pp-96.5%below the sector's middle half▲ 20.8pp
Staff (FTE)0.5below the sector's middle half-1▲ 100%0.5▼ 50.0%
above
within
below
the middle half (P25 to P75) of NACE 38, Waste collection, recovery and disposal activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €44,823 in 2024 against €66,410 in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €46,645
Fixed assets
€28,136 ▼ 18.3%
Current assets
€18,509 ▼ 16.7%
Key figures and ratios
EBITDA
-€31,011▲
2023 · -€52,369
Cash flow
-€31,217▲
2023 · -€52,443
Debt to equity
-1.23▲
2023 · -1.36
Interest coverage
-150.31▲
2023 · -700.59
Debt ≤ 1 year
€163,059▲
2023 · €142,944
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,010 companies that looked in July 2024 the way this one looks now, 7.9% went bankrupt within 24 months and 83% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
7.9%
went bankrupt
8.4%
stopped otherwise
83%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,010 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €50,290 | €38,848 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,564 | €10,623 | €9,936 | €14,041 | €13,812 | ▼ 1.6% |
| Other operating charges640/8 | - | €376 | €322 | €258 | €1,768 | ▲ 585% |
| Gross operating margin9900 | -€44,413 | €30,219 | €6,181 | -€52,111 | -€29,243 | ▲ 43.9% |
| Operating profit (loss)9901 | -€79,498 | -€31,070 | -€42,925 | -€66,410 | -€44,823 | ▲ 32.5% |
| Financial income75/76B | - | - | €422 | €0 | €0 | ▼ 100% |
| Recurring financial income75 | - | - | €422 | €0 | €0 | ▼ 100% |
| Financial charges65/66B | - | €56 | €62 | €75 | €206 | ▲ 176% |
| Recurring financial charges65 | €116 | €56 | €62 | €75 | €206 | ▲ 176% |
| Profit (loss) for the period before taxes9903 | -€79,614 | -€31,126 | -€42,565 | -€66,484 | -€45,029 | ▲ 32.3% |
| Profit (loss) for the period9904 | -€79,614 | -€31,126 | -€42,565 | -€66,484 | -€45,029 | ▲ 32.3% |
| Profit (loss) for the period to be appropriated9905 | -€79,614 | -€31,126 | -€42,565 | -€66,484 | -€45,029 | ▲ 32.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €66,370 | €62,768 | €78,211 | €56,673 | €46,645 | ▼ 17.7% |
| Fixed assets21/28 | €36,784 | €33,205 | €46,926 | €34,449 | €28,136 | ▼ 18.3% |
| Tangible fixed assets22/27 | €36,421 | €32,842 | €46,926 | €34,449 | €28,136 | ▼ 18.3% |
| Plant, machinery and equipment23 | - | €19,091 | €39,189 | €28,669 | €25,394 | ▼ 11.4% |
| Furniture and vehicles24 | - | €13,752 | €7,737 | €5,780 | €2,742 | ▼ 52.6% |
| Financial fixed assets28 | €363 | €363 | €0 | - | - | - |
| Current assets29/58 | €29,586 | €29,562 | €31,285 | €22,224 | €18,509 | ▼ 16.7% |
| Amounts receivable within one year40/41 | €2,916 | €8,779 | €10,408 | €2,667 | €12,819 | ▲ 381% |
| Trade receivables40 | - | €8,647 | €10,261 | €2,667 | €12,819 | ▲ 381% |
| Other amounts receivable41 | - | €132 | €146 | €0 | - | - |
| Cash at bank and in hand54/58 | €24,012 | €18,130 | €20,350 | €19,074 | €5,691 | ▼ 70.2% |
| Deferred charges and accrued income490/1 | - | €2,653 | €527 | €483 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €66,370 | €62,768 | €78,211 | €56,673 | €46,645 | ▼ 17.7% |
| Equity10/15 | -€18,114 | -€49,240 | -€91,804 | -€158,289 | -€203,318 | ▼ 28.4% |
| Contributions10/11 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | - | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | - | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Profit (loss) carried forward14 | -€79,614 | -€110,740 | -€153,304 | -€219,789 | -€264,818 | ▼ 20.5% |
| Amounts payable17/49 | €84,484 | €112,008 | €170,016 | €214,962 | €249,963 | ▲ 16.3% |
| Amounts payable within one year42/48 | €14,863 | €32,090 | €99,525 | €142,944 | €163,059 | ▲ 14.1% |
| Current portion of amounts payable after more than one year42 | - | - | €200 | €200 | €1,900 | ▲ 850% |
| Trade debts44 | €10,470 | €9,202 | €1,148 | €5,405 | €2,238 | ▼ 58.6% |
| Suppliers440/4 | - | €9,202 | €1,148 | €5,405 | €2,238 | ▼ 58.6% |
| Taxes, remuneration and social security45 | - | €7,720 | €2,867 | €1,478 | €2,841 | ▲ 92.2% |
| Taxes450/3 | - | €4,816 | €2,867 | €1,478 | €2,841 | ▲ 92.2% |
| Remuneration and social security454/9 | - | €2,904 | €0 | - | - | - |
| Other amounts payable47/48 | - | €15,168 | €95,309 | €135,861 | €156,081 | ▲ 14.9% |
| Accrued charges and deferred income492/3 | - | €79,918 | €70,491 | €72,018 | €86,904 | ▲ 20.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€79,614 | -€31,126 | -€42,565 | -€66,484 | -€45,029 | ▲ 32.3% |
| + Depreciation and write-downs630 | €4,564 | €10,623 | €9,936 | €14,041 | €13,812 | ▼ 1.6% |
| Operating cash flow (approximation) | -€75,050 | -€20,503 | -€32,628 | -€52,443 | -€31,217 | ▲ 40.5% |
| Investment in fixed assets (approximation) | - | -€7,045 | -€23,657 | -€1,565 | -€7,498 | ▼ 379% |
| Change in cash | - | -€5,882 | €2,220 | -€1,276 | -€13,384 | ▼ 949% |
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
11-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
06-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
04-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
NBB filing
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Virton · 1 establishment unit since 2019
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.
Zon.Ind. de Ruette-Latour,Ruette 16760 Virton1 establishment unit
Zon.Ind. de Ruette-Latour,Ruette 1, 6760 Virton
since 20192.298.457.857
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 978 companies in sector 38210 we hold annual accounts for 587. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded07-08-2019
Fiscal year end31-12
Activities, NACEBEL 2025
38210Materials recovery from waste
E-invoicing
Reachable via Peppol
Peppol ID
0208:0731932306
Registered
20-11-2020
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.