VANAFISH
ActiveSummary
VANAFISH has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €3.42M and a net result of €1.20M. Equity is growing by ~18.4% per year across the filed fiscal years. Its solvency ranks better than 75% of 804 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability96▼-4
Solvency87▼-6
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €270k at 30 days acceptable
Liquidity ample (current ratio 2.56 against 3.21 in 2023; short-term debt: 30.2% and cash: 6% of total assets), and 37.8% of the assets are financed with debt.
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Signals
Five 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 10
Relative position
BE, all sectors
reference
Manufacture of food products (NACE 10)
about 60% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
62.2%
Return on assets
21.9%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 03-07-2025, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
28 d early
2023
27 d early
2022
26 d early
2021
31 d early
2020
31 d early
2019
30 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€3.42M▲ 21.4%
2023 · €2.82M
Total assets
€5.50M▲ 31.7%
2023 · €4.18M
Net result
€1.20M▲ 12.7%
2023 · €1.07M
Working capital
€2.59M▲ 17.9%
2023 · €2.20M
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€299k▼ 69.0%€1.03M▲ 245%€1.05M▲ 1.3%€1.31M▲ 25.3%€1.45M▲ 10.5%
Net result€213k▼ 67.1%€849k▲ 299%€855k▲ 0.8%€1.07M▲ 24.8%€1.20M▲ 12.7%
Equity€1.65M▲ 14.8%€2.00M▲ 21.2%€2.35M▲ 17.8%€2.82M▲ 19.9%€3.42M▲ 21.4%
Total assets€3.70M▼ 2.5%€3.70M▲ 0.2%€4.83M▲ 30.5%€4.18M▼ 13.6%€5.50M▲ 31.7%
Debt€2.05M▼ 13.0%€1.71M▼ 16.7%€2.48M▲ 45.3%€1.36M▼ 45.3%€2.08M▲ 53.1%
Working capital€1.61M▲ 19.4%€1.83M▲ 13.3%€1.97M▲ 8.0%€2.20M▲ 11.3%€2.59M▲ 17.9%
Staff (FTE)18.4▲ 7.6%17.7▼ 3.8%18.5▲ 4.5%17.9▼ 3.2%17.4▼ 2.8%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2024 is 10% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €5.50M
Fixed assets
€1.25M ▲ 27.0%
Current assets
€4.25M ▲ 33.1%
Equity and liabilities €5.50M
Equity
€3.42M ▲ 21.4%
Debt
€2.08M ▲ 53.1%
Debt's share of the balance-sheet total rises from 32.5% to 37.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.67M▲
2023 · €1.47M
Cash flow
€1.42M▲
2023 · €1.23M
Current ratio
2.56▼
2023 · 3.21
Quick ratio
2.23▼
2023 · 2.63
Debt to equity
0.61▲
2023 · 0.48
ROE
35.2%▼
2023 · 37.9%
ROA
21.9%▼
2023 · 25.6%
Interest coverage
20.88▼
2023 · 21.40
Debt ≤ 1 year
€1.66M▲
2023 · €996k
Debt > 1 year
€416k▲
2023 · €361k
Income taxes
€206k▲
2023 · €191k
Staff costs
€846k▼
2023 · €865k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €3k | €0 | - | €3k | - |
| Remuneration, social security and pensions62 | - | €674k | €715k | €865k | €846k | ▼ 2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €174k | €143k | €111k | €160k | €220k | ▲ 37.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €0 | - | - | - | - |
| Other operating charges640/8 | - | €13k | €17k | €15k | €20k | ▲ 37.9% |
| Non-recurring operating charges66A | - | €2k | €0 | - | €42k | - |
| Gross operating margin9900 | €1.20M | €1.87M | €1.89M | €2.35M | €2.58M | ▲ 9.6% |
| Operating profit (loss)9901 | €299k | €1.03M | €1.05M | €1.31M | €1.45M | ▲ 10.5% |
| Financial income75/76B | - | €9k | €21k | €16k | €40k | ▲ 143% |
| Recurring financial income75 | €10k | €9k | €21k | €16k | €40k | ▲ 143% |
| Financial charges65/66B | - | €41k | €57k | €69k | €80k | ▲ 16.2% |
| Recurring financial charges65 | €32k | €41k | €57k | €69k | €80k | ▲ 16.2% |
| Profit (loss) for the period before taxes9903 | €278k | €1.00M | €1.01M | €1.26M | €1.41M | ▲ 11.9% |
| Transfer from deferred taxes780 | - | €335 | €0 | - | - | - |
| Income taxes67/77 | €66k | €153k | €156k | €191k | €206k | ▲ 7.5% |
| Profit (loss) for the period9904 | €213k | €849k | €855k | €1.07M | €1.20M | ▲ 12.7% |
| Transfer from tax-exempt reserves789 | - | €1k | €0 | - | - | - |
| Transfer to tax-exempt reserves689 | - | €400k | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €193k | €450k | €855k | €1.07M | €1.20M | ▲ 12.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.70M | €3.70M | €4.83M | €4.18M | €5.50M | ▲ 31.7% |
| Fixed assets21/28 | €652k | €659k | €909k | €983k | €1.25M | ▲ 27.0% |
| Intangible fixed assets21 | - | - | €6k | €8k | €7k | ▼ 9.0% |
| Tangible fixed assets22/27 | €648k | €654k | €896k | €972k | €1.23M | ▲ 26.8% |
| Land and buildings22 | - | €394k | €386k | €379k | €395k | ▲ 4.4% |
| Plant, machinery and equipment23 | - | €220k | €484k | €564k | €824k | ▲ 45.9% |
| Furniture and vehicles24 | - | €40k | €25k | €29k | €14k | ▼ 52.4% |
| Financial fixed assets28 | €4k | €6k | €8k | €4k | €10k | ▲ 133% |
| Current assets29/58 | €3.04M | €3.04M | €3.92M | €3.19M | €4.25M | ▲ 33.1% |
| Stocks and contracts in progress3 | €283k | €394k | €516k | €569k | €542k | ▼ 4.8% |
| Stocks30/36 | - | €394k | €516k | €569k | €542k | ▼ 4.8% |
| Amounts receivable within one year40/41 | €1.87M | €2.08M | €2.81M | €2.43M | €3.26M | ▲ 34.3% |
| Trade receivables40 | - | €1.05M | €1.55M | €1.55M | €1.49M | ▼ 3.8% |
| Other amounts receivable41 | - | €1.03M | €1.27M | €876k | €1.77M | ▲ 102% |
| Cash at bank and in hand54/58 | €809k | €473k | €451k | €84k | €330k | ▲ 292% |
| Deferred charges and accrued income490/1 | - | €96k | €142k | €109k | €116k | ▲ 5.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.70M | €3.70M | €4.83M | €4.18M | €5.50M | ▲ 31.7% |
| Equity10/15 | €1.65M | €2.00M | €2.35M | €2.82M | €3.42M | ▲ 21.4% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | - | €62k | €62k | €62k | €62k | = |
| Issued capital100 | - | €62k | €62k | €62k | €62k | = |
| Reserves13 | €1.58M | €1.93M | €2.29M | €2.76M | €3.36M | ▲ 21.9% |
| Non-distributable reserves130/1 | - | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | - | €6k | €6k | €6k | €6k | = |
| Tax-exempt reserves132 | - | €437k | €16k | €16k | €16k | = |
| Distributable reserves133 | - | €1.49M | €2.27M | €2.73M | €3.34M | ▲ 22.1% |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | €0 | - |
| Provisions and deferred taxes16 | €335 | €0 | - | - | - | - |
| Deferred taxes168 | - | €0 | - | - | - | - |
| Amounts payable17/49 | €2.05M | €1.71M | €2.48M | €1.36M | €2.08M | ▲ 53.1% |
| Amounts payable after more than one year17 | €618k | €491k | €532k | €361k | €416k | ▲ 15.2% |
| Financial debts170/4 | - | €491k | €532k | €361k | €416k | ▲ 15.2% |
| Amounts payable within one year42/48 | €1.43M | €1.22M | €1.95M | €996k | €1.66M | ▲ 66.9% |
| Current portion of amounts payable after more than one year42 | - | €111k | €123k | €91k | €138k | ▲ 52.6% |
| Financial debts43 | - | €80k | €80k | €80k | €80k | = |
| Credit institutions430/8 | - | €80k | €80k | €80k | €80k | = |
| Trade debts44 | €1.04M | €876k | €1.45M | €573k | €1.13M | ▲ 97.0% |
| Suppliers440/4 | - | €876k | €1.45M | €573k | €1.13M | ▲ 97.0% |
| Taxes, remuneration and social security45 | - | €149k | €197k | €252k | €214k | ▼ 14.9% |
| Taxes450/3 | - | €40k | €80k | €114k | €92k | ▼ 19.3% |
| Remuneration and social security454/9 | - | €109k | €116k | €138k | €123k | ▼ 11.3% |
| Other amounts payable47/48 | - | - | €100k | €0 | €100k | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €213k | €849k | €855k | €1.07M | €1.20M | ▲ 12.7% |
| + Depreciation and write-downs630 | €174k | €143k | €111k | €160k | €220k | ▲ 37.3% |
| Operating cash flow (approximation) | €387k | €992k | €966k | €1.23M | €1.42M | ▲ 15.9% |
| Investment in fixed assets (approximation) | - | €-151k | €-360k | €-234k | €-486k | ▼ 107% |
| Change in cash | - | €-336k | €-22k | €-367k | €246k | ▲ 167% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
2025
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €1.20M ▲12.7%
Operating result €1.45M, net result €1.20M, both a record.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €2MEq €2.35M ▲17.8%
5 profitable years in a row build equity to €2.35M.
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €213k ▼67.1%
Net result drops to €213k, the lowest in the series; recovery starts the following year.
01-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
02-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
06-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
03-05
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.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Pittem · 1 establishment unit since 1987
Ground area
3,998 m²
Building footprint
1,207 m²
Volume, LiDAR
5,784 m³
Parcel 37011D0197/00C003, Flanders · tallest building 8.4 m, ±1 floor. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
NV VANAFISH
since 19872.033.021.614
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37011D0197/00C003 | Flanders | 3,998 m² | 1 · 1,207 m² | 8.3 m · 1 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 2025 · 6 entries · 7,991 EUR awarded · 7,991 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 308 EUR | 1,058 EUR |
| 2024 | 2 | 841 EUR | 91 EUR |
| 2023 | 1 | 0 EUR | 6,842 EUR |
| 2022 | 1 | 6,842 EUR | 0 EUR |
Schemes
Call groene stroom (stopgezet)
Subsidies voor internationaal ondernemen
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 sitePittem2.033.021.614
Legal Entity Identifier
875500H17UXO66KU4U72
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Of 98 companies in sector 10200 we hold annual accounts for 56. 28 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded04-03-1987
Fiscal year end31-12
Activities, NACEBEL 2025
10200Manufacture of food products
46323Wholesale trade
47230Retail trade
Contact
E-mail
bruno@vanafish.be
Scores and ratios are computed by Checked and are not a credit decision.