VANCO
ActiveSummary
VANCO has been active since 1995 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €133,197 and a net result of €30,885. Equity has been shrinking by about 9.9% per year since 2018. Its solvency ranks better than 41% of 39,272 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 17-11-1995 Normal situation
- Activity
- Business and other management consultancy NACE 70200and 1 other
- Establishment unit
- 2.195.451.082 2600 Antwerpen, since 13-07-2010
- Financial year end
- 31 December
- Peppol
- Reachable since 23-12-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
- Gross margin
- €65,243
- ▲ 35.7%
- Turnover
- ≈ €130,000
- estimated
- Profit
- €30,885
- ▲ 86.8%
- Equity
- €133,197
- ▲ 30.2%
- Total assets
- €298,451
- ▼ 25.8%
Score breakdownlowers riskLiquidity: current ratio 2.02, cash €243,880Sector: Activities of head offices; management consultancy activities (NACE 70)Size: total assets €298,451Equity €133,197 (44.6% of total assets)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 70, micro). It does better than 42% of them on solvency, 70% on liquidity, 49% on profitability and 73% on growth.
The bankruptcy probability was computed on 02-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 5 days after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 17-07-2026 at the NBB all 30 filings
Every figure per financial year
The operating result for 2025 is 119% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €8,991 | €6,863 | €8,697 | €5,600 | €6,631 |
| Depreciation and write-downs of the year | €25,032 | €23,582 | €24,263 | €22,904 | €10,381 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €360 awarded · €360 paid| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €973 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,995 | €24,594 | €24,602 | €25,032 | €23,582 | €24,263 | €22,904 | €10,381 | ▼ 54.7% |
| Other operating charges640/8 | - | - | - | €301 | €302 | €309 | €318 | €320 | ▲ 0.6% |
| Gross operating margin9900 | €53,617 | €22,586 | €19,392 | -€10,435 | €739 | €39,657 | €48,093 | €65,243 | ▲ 35.7% |
| Operating profit (loss)9901 | €30,983 | -€2,506 | -€5,460 | -€35,768 | -€23,144 | €15,085 | €24,871 | €54,542 | ▲ 119% |
| Financial income75/76B | - | - | - | €0 | - | €216 | €228 | €2,132 | ▲ 837% |
| Recurring financial income75 | €19,945 | - | - | €0 | - | €216 | €228 | €2,132 | ▲ 837% |
| Financial charges65/66B | - | - | - | €9,066 | €7,197 | €8,678 | €8,446 | €8,349 | ▼ 1.1% |
| Recurring financial charges65 | €13,283 | €12,028 | €10,205 | €9,066 | €7,197 | €8,678 | €8,446 | €8,349 | ▼ 1.1% |
| Profit (loss) for the period before taxes9903 | €37,644 | -€14,534 | -€15,664 | -€44,833 | -€30,342 | €6,624 | €16,653 | €48,324 | ▲ 190% |
| Income taxes67/77 | €11,534 | €7,854 | €408 | €256 | €120 | €120 | €120 | €17,440 | ▲ 146× |
| Profit (loss) for the period9904 | €26,110 | -€22,388 | -€16,072 | -€45,089 | -€30,461 | €6,504 | €16,534 | €30,885 | ▲ 86.8% |
| Profit (loss) for the period to be appropriated9905 | €26,110 | -€22,388 | -€16,072 | -€45,089 | -€30,461 | €6,504 | €16,534 | €30,885 | ▲ 86.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.1m | €1.0m | €0.5m | €0.4m | €0.4m | €0.4m | €0.4m | €0.3m | ▼ 25.8% |
| Fixed assets21/28 | €0.1m | €0.1m | €0.1m | €0.09m | €0.07m | €0.06m | €0.04m | €0.03m | ▼ 9.8% |
| Tangible fixed assets22/27 | €0.1m | €0.1m | €0.1m | €0.09m | €0.07m | €0.06m | €0.04m | €0.03m | ▼ 9.8% |
| Land and buildings22 | - | - | - | €0.07m | €0.06m | €0.04m | €0.02m | €0.02m | ▼ 17.1% |
| Plant, machinery and equipment23 | - | - | - | €0.003m | €0.002m | €0.005m | €0.004m | €0.003m | ▼ 30.3% |
| Furniture and vehicles24 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | ▲ 13.2% |
| Current assets29/58 | €0.9m | €0.9m | €0.4m | €0.3m | €0.3m | €0.3m | €0.4m | €0.3m | ▼ 27.4% |
| Amounts receivable within one year40/41 | €0.02m | €0.005m | €0.02m | €0.002m | €0.005m | €0.008m | €0.02m | €0.02m | ▲ 4.9% |
| Trade receivables40 | - | - | - | - | €0.004m | €0.007m | €0.02m | €0.02m | ▲ 4.9% |
| Other amounts receivable41 | - | - | - | €0.002m | €0.001m | €465 | - | - | - |
| Cash at bank and in hand54/58 | €0.9m | €0.9m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 29.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.1m | €1.0m | €0.5m | €0.4m | €0.4m | €0.4m | €0.4m | €0.3m | ▼ 25.8% |
| Equity10/15 | €0.2m | €0.2m | €0.2m | €0.1m | €0.08m | €0.09m | €0.1m | €0.1m | ▲ 30.2% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | - | - | - | - |
| Distributable reserves133 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Profit (loss) carried forward14 | €0.04m | - | -€0.02m | -€0.06m | -€0.09m | -€0.09m | -€0.07m | -€0.04m | ▲ 45.0% |
| Amounts payable17/49 | €0.9m | €0.8m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 44.9% |
| Amounts payable after more than one year17 | €0.1m | €0.09m | €0.08m | €0.07m | €0.06m | €0.05m | €0.04m | €0.03m | ▼ 20.7% |
| Financial debts170/4 | - | - | - | €0.07m | €0.06m | €0.05m | €0.04m | €0.03m | ▼ 20.7% |
| Amounts payable within one year42/48 | €0.7m | €0.7m | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | €0.1m | ▼ 49.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.009m | €0.009m | €0.009m | €0.009m | €0.009m | = |
| Trade debts44 | €0.05m | - | €0.002m | €0.008m | €0.006m | €0.004m | €255 | - | - |
| Suppliers440/4 | - | - | - | €0.008m | €0.006m | €0.004m | €255 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.002m | €0.001m | €0.002m | €0.01m | €0.03m | ▲ 155% |
| Taxes450/3 | - | - | - | €0.002m | €0.001m | €0.002m | €0.01m | €0.03m | ▲ 155% |
| Other amounts payable47/48 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.09m | ▼ 61.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €26,110 | -€22,388 | -€16,072 | -€45,089 | -€30,461 | €6,504 | €16,534 | €30,885 | ▲ 86.8% |
| + Depreciation and write-downs630 | €21,995 | €24,594 | €24,602 | €25,032 | €23,582 | €24,263 | €22,904 | €10,381 | ▼ 54.7% |
| Operating cash flow (approximation) | €48,105 | €2,206 | €8,530 | -€20,058 | -€6,880 | €30,767 | €39,438 | €41,266 | ▲ 4.6% |
| Investment in fixed assets (approximation) | - | -€6,596 | -€11,410 | -€8,991 | -€6,863 | -€8,697 | -€5,600 | -€6,631 | ▼ 18.4% |
| Change in cash | - | -€7,699 | -€545,115 | -€7,989 | -€32,303 | €21,470 | €23,318 | -€100,807 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 31,368 companies had the same profile as VANCO has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of VANCO itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 31,368 companies, not a prediction for VANCO. 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.
Latest 10 of 30 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 17-07-2026 | 2026-00314962 | |
| 31-12-2024 | micro format | 30-07-2025 | 2025-00347246 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00403892 | |
| 31-12-2022 | micro format | 31-07-2023 | 2023-00294749 | |
| 31-12-2021 | micro format | 08-08-2022 | 2022-20275336 | |
| 31-12-2020 | micro format | 14-07-2021 | 2021-35200233 | |
| 31-12-2019 | micro format | 27-08-2020 | 2020-45500282 | |
| 31-12-2018 | micro format | 28-06-2019 | 2019-24600558 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-60700440 | |
| 31-12-2016 | abbreviated format | 19-06-2017 | 2017-18300525 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 21-11-2023 Converted to unavailable equity
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Vermeulen Hans |
|
Articles of association
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Algemene vergadering kan een of meer vereffenaars aanduiden bevoegdheden omlijnen vergoeding bepalen, bestuurder(s) in functie als…”
Articles of association, deed of 21-11-2023 (in Dutch)
Network & group
VANCO shares no director with another company.
Companies at the same address
3 other companiesConnections & network
1 current directorThe network starts from the directors of VANCO. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
21-11
Gazette deed
Resignation: Vermeulen Hans (director)Reappointment: Vermeulen Hans (director) · Capital conversion · Reserve release11 points ▸
- General meeting, 09-11-2023
- Other provision, “aanpassing statuten aan WVV met behoud rechtsvorm, statuten aanpassen en rechtsvorm besloten vennootschap (BV) behouden” (deed in Dutch)
- Other provision, “bijzonder verslag bestuurder over uitbreiding voorwerp artikel 5:101 WVV, griffie van de bevoegde ondernemingsrechtbank” (deed in Dutch)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “opheffen en middelen beschikbaar maken voor uitkering, statutair onbeschikbare eigen vermogensrekening aangelegd bij toepassing van artikel 39, §2, tweede lid” (deed in Dutch)
- Amendment of the articles
- Capital
- Director resignation, Vermeulen Hans (director)
- Director reappointment, Vermeulen Hans (director (not named in the articles))
- Registered office clause, “2600 Berchem,Prins Albertlei 23” (deed in Dutch)
- Power of attorney, Vermeulen Hans
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
12 activities
- Overige uitgeverijen van software
- Ontwerpen en programmeren van computerprogramma’s, webtoepassingen, streamingdiensten, enz.
- Activiteiten van systeemintegrators
- Groothandel in andere kantoormachines en kantoorbenodigdheden, met uitzondering van computers en randapparatuur.
- Kleinhandel in computers en standaardprogrammatuur
- Verhuur en operationele leasing van kantoormachines, incl. computers, zonder bedieningspersoneel : computerapparatuur, duplicators, fotokopieermachines, schrijfmachines, tekstverwerkers, enz
- Gegevensverwerking, web hosting en aanverwante activiteiten
- Al dan niet permanent verwerken van gegevens met behulp van een eigen programma of een programma van de klant : invoeren van gegevens – volledige verwerking van gegevens.
- Permanent beheren van en werken met de gegevensverwerkende apparatuur van derden.
- Verlenen van advies aan de gebruikers over soorten computers (hardware) en hun configuratie en de toepassing van bijbehorende programmatuur (software)
- Overige diensten op het gebied van informatietechnologie en computer
- In België of in het buitenland een studiebureau uit te baten, voor haar rekening of in het buitenland of voor rekening van derden en/of tussenpersonen alle hoegenaamde bedrijvigheid uit te oefenen betrekkelijk onroerende goederen, gebouwd of ongebouwd, en alle hoegenaamde handelingen te verrichten betreffende onroerende rechten dit zo voor eigen noodwendigheid of rekening, als met het oog op de vervreemding of voor rekening van derden of in samenwerking met derden.
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11303B0348/00S000 | Flanders | 1,446 m² | 1 · 579 m² | 31.3 m · 10 |
1 of these parcels carries protected heritage. Expect extra rules on renovation or sale.