Equity
€3.5m ▲ 2.6%
VANAFISH paid out €1.0m in dividends. That is 92% of the 2025 profit.
VANAFISH
Lifetime
20 annual accounts with figures on one time axis, 39 filings since 1987peak €2.6m (2024)
€2.5m▼ 4.5%
peak €1.2m (2024)
€1.1m▼ 9.4%
peak €3.5m (2025)
€3.5m▲ 2.6%
€1.9m▼ 8.3%
peak 18.5 FTE (2022)
17.1 FTE▼ 1.7%
Board3 names since 2020
-
Owners6 names in the annual accounts
100%Ursidae
Documentsfilings and deeds
30-06-202631 days before the deadline
2025financial year
Dividend €1.0m
Key points
from the 2025 annual accountsTurnover
≈ €4.2m estimated
The accounts state no turnover.
Staff
18 employees on 31-12-2025
In 2025, 3 people joined and 2 left.
Filings
39 annual accounts since 1987
The last five annual accounts were filed 26 to 31 days before the end of the period.
Board
2 joined
New directors. Latest change 01-01-2026 · 2 in office.
Position in the sector
€2.5m
Higher gross margin than 89% of companies in food products. Sector median €529,900 · 361 companies.
Checked score
96
Excellent
Financially stronger than 68% of small companies in food products (NACE 10)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.5% across 632 companies (NACE 10, small).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.2%▲ +0.1 percentage points vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025
08-2025: 0.1%▼ -0.1 percentage points vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.2%▲ +0.1 percentage points vs 07-2026
09-2026: 0.3%▲ +0.1 percentage points vs 08-2026highest value
10-2026: 0.1%▼ -0.2 percentage points vs 09-2026lowest value
11-2026: 0.1%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Sector: Manufacture of food products (NACE 10)
lowers risk
Founded in 1987
Profit of €1.1m (financial year 2025)
Equity €3.5m (64.8% of total assets)
Calculation
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 10, small). It does better than 85% of them on solvency, 54% on liquidity, 92% on profitability and 43% on growth.
The bankruptcy probability was computed on 09-11-2026 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).
Comparable companies, two years later
In July 2024, 20,137 companies had the same profile as VANAFISH has now. Each dot stands for 51 companies, two years later.
95.1%
were still trading
4.7%
stopped another way
0.2%
went bankrupt
That fits the bankruptcy probability of VANAFISH itself: 0.1% within 12 months.
Test of the method
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 20,137 companies, not a prediction for VANAFISH. 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.
Credit verdict
Credit of up to €330,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.82 (2.56 in 2024), above the usual 1.5. Short-term debt is 27% and cash 4.8% of total assets. 35.2% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 days early
2024
28 days early
2023
27 days early
2022
26 days early
2021
31 days early
2020
31 days early
2019
30 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 29 days before the deadline. In the sector (NACE 10), the median for financial year 2024 was 4 days before the deadline, and 38% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 3 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
1 director appointed, 2 reappointments
Reappointments: NV URSIDAE and Buyse Tanguy · Permanent representative: Bruno Dumolin · Appointment: NV URSIDAE (managing director) · General meeting of 09-03-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0430566766
Permanent representative: DUMOLIN Bruno
“Fabricatie van en aan- en verkoop in het klein en in het groot van alle…” (deed in Dutch) · A shareholder holds all the shares · General meeting of 24-10-2023 · Gazette deed
2 directors appointed, 3 resignations
Resignations: Bruno Dumolin, NV URSIDAE and Tanguy Buyse · Permanent representative: Bruno Dumolin · Appointments: NV URSIDAE and Tanguy Buyse · General meeting of 03-01-2020 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| VANAFISH Pittem | €5.4m | €2.5m | 64.8% | 17.1 |
| SEAGULL Bruges | €3.7m | €1.4m | 29.2% | 16.2 |
| TAPA FOODS Maldegem | €4.1m | €2.0m | 82.2% | 14.8 |
| OOSTENDSE VISROKERIJ D.V. Ostend | €2.9m | €0.9m | 76.3% | 11.2 |
| GRANDES MAREES Brussels | €4.2m | €0.8m | 56.5% | 16.8 |
| MIMRAM Mouscron | €2.0m | €1.3m | 53.4% | 17.2 |
| BRUGSE VISROKERIJ F. ALLOO Bruges | €3.4m | €0.7m | 52.7% | 9.9 |
These companies have the same main activity as VANAFISH: manufacture of food products (NACE 10200). They are comparable in size and age: total assets between €2m and €4.2m, founded between 1981 and 2002.
Official details
Source: KBO- Status
- Active since 04-03-1987Normal situation
- Activity
- Manufacture of food productsNACE 10200and 2 others
- Joint committees
- 118Food industry
- 220White-collar workers in the food industry · annual accounts 2025
- Establishment unit
- 2.033.021.6148740 Pittem, since 19-03-1987
- Financial year end
- 31 December
- Peppol
- Reachable since 26-09-2025
Annual accounts 2025
- €5.4m▼ 1.5%
- Employeeson 31-12-2025
- 18▲ 5.9%
- Filing
- Filed on 30-06-2026, 31 days before the end of the filing period
Insights on VANAFISH
VANAFISH has existed since 1987. The gross margin grew from €1.1m in 2006 to €2.5m in 2025 and staff from 6.7 to 17.1 full-time equivalents.
Ursidae holds all the shares. In April 2026, the Official Gazette published the appointment of Ursidae as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about VANAFISH
- What is the company number of VANAFISH?
- The company number of VANAFISH is 0430.566.766. The VAT number is the same number with BE in front: BE 0430.566.766.
- Where is VANAFISH based?
- The registered office is at Spoorweglaan 24, 8740 Pittem.Company details
- What does VANAFISH do?
- According to the KBO register, the main activity is manufacture of food products (NACE 10200).
- What is the legal form of VANAFISH?
- VANAFISH is a public limited company (NV).
- When was VANAFISH founded?
- VANAFISH was founded on 04-03-1987.
- Is VANAFISH still active?
- Yes, VANAFISH is an active enterprise in the KBO register.
- How many employees does VANAFISH have?
- VANAFISH had an average of 17.1 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does VANAFISH fall under?
- In its 2025 annual accounts, VANAFISH states joint committees 118 (Food industry) and 220 (White-collar workers in the food industry).
- What is the turnover of VANAFISH?
- The turnover in financial year 2025 is ≈ €4.2m. This figure is estimated from the gross margin of €2.5m and 1,585 comparable companies of the same size. It probably lies between €2.9m and €7.0m. It is a rough estimate.
- Is VANAFISH profitable?
- In financial year 2025, VANAFISH made a profit of €1.1m.
- Where can I find the annual accounts of VANAFISH?
- VANAFISH filed 39 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of VANAFISH due?
- VANAFISH must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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