VANCOBER (0448.783.465), In bankruptcy: financials and annual accounts

VANCOBER

Ostend ·KBO/BCE: BE 0448.783.465

Line	2024	2023	2022	2021	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Balance sheet: assets
Total assets`20/58`	4.6m	4.2m	3.9m	4.4m	4.1m	4.0m	4.6m	5.0m	5.4m	5.3m	5.4m	5.3m	3.3m	2.3m	2.3m	2.3m	2.4m	2.1m
Fixed assets`21/28`	2.1m	2.5m	2.6m	2.9m	3.6m	3.9m	4.3m	4.8m	5.0m	4.9m	5.2m	5.1m	2.7m	1.6m	1.8m	2.0m	1.9m	1.8m
Tangible fixed assets`22/27`	2.1m	2.5m	2.6m	2.9m	3.6m	3.9m	4.3m	4.7m	5.0m	4.9m	5.2m	5.1m	2.6m	1.6m	1.7m	1.9m	1.9m	1.8m
Plant, machinery and equipment`23`	2.0m	2.4m	2.5m	2.8m	3.4m	3.8m	4.2m	4.6m	4.9m	4.8m	5.1m	5.1m	2.6m	1.6m	1.7m	1.9m	1.9m	1.8m
Furniture and vehicles`24`	43,456	58,579	92,216	110,678	168,702	96,213	114,356	136,006	130,263	42,978	48,015	40,770	36,785	1,358	2,431	3,786	16,752	49,462
Financial fixed assets`28`	-	-	-	-	-	-	10,276	9,464	9,158	8,934	9,123	8,897	8,916	8,857	9,107	9,394	9,080	8,931
Current assets`29/58`	2.5m	1.8m	1.3m	1.4m	484,590	83,669	277,043	209,612	311,708	411,701	220,127	222,888	602,145	684,000	549,923	311,309	467,029	254,408
Amounts receivable after more than one year`29`	653,881	618,168	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Trade receivables`290`	618,168	618,168	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other amounts receivable`291`	35,713	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stocks and contracts in progress`3`	26,392	30,242	40,951	12,831	11,910	11,910	4,958	4,958	4,958	4,958	4,958	4,958	4,958	4,958	4,958	4,958	4,958	4,958
Stocks`30/36`	26,392	30,242	40,951	12,831	11,910	11,910	4,958	4,958	4,958	4,958	4,958	4,958	4,958	4,958	4,958	4,958	4,958	4,958
Amounts receivable within one year`40/41`	1.8m	1.1m	1.0m	1.1m	390,092	39,874	41,911	21,608	20,025	35,476	32,981	48,951	408,360	339,402	259,326	231,329	195,341	231,814
Trade receivables`40`	860,127	287,220	610,213	381,049	134,463	36,059	39,066	19,930	20,025	25,864	32,875	40,537	9,485	24,870	10,434	30,391	23,652	33,413
Other amounts receivable`41`	932,064	820,577	396,638	735,480	255,629	3,814	2,845	1,679	-	9,612	105	8,414	398,875	314,532	248,892	200,938	171,689	198,400
Current investments`50/53`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	200,000	-	-	-
Cash at bank and in hand`54/58`	-	-	272,080	274,431	80,390	24,544	222,371	166,883	277,934	355,802	177,391	27,971	185,483	339,640	85,639	75,022	266,730	17,636
Deferred charges and accrued income`490/1`	3,480	-	21,708	24,382	2,197	7,341	7,803	16,163	8,791	15,465	4,797	141,007	3,345	-	-	-	-	-
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	4.6m	4.2m	3.9m	4.4m	4.1m	4.0m	4.6m	5.0m	5.4m	5.3m	5.4m	5.3m	3.3m	2.3m	2.3m	2.3m	2.4m	2.1m
Equity`10/15`	1.8m	1.6m	1.3m	1.3m	1.7m	1.7m	1.5m	1.5m	1.4m	1.3m	1.2m	983,286	1.2m	1.3m	1.2m	1.0m	871,610	648,669
Contributions`10/11`	385,000	385,000	385,000	385,000	385,000	385,000	385,000	385,000	385,000	385,000	385,000	385,000	385,000	385,000	385,000	385,000	385,000	385,000
Capital`10`	385,000	385,000	385,000	385,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issued capital`100`	385,000	385,000	385,000	385,000	385,000	385,000	385,000	385,000	385,000	385,000	385,000	385,000	385,000	385,000	385,000	385,000	385,000	385,000
Reserves`13`	1.4m	1.2m	892,389	1.2m	1.2m	1.2m	1.1m	1.0m	857,406	757,406	757,406	757,406	757,250	757,250	657,250	457,250	357,250	57,411
Non-distributable reserves`130/1`	38,500	38,500	38,500	38,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	38,500	38,500	38,500	38,500	38,500	38,500	38,500	38,500	38,500	38,500	38,500	38,500	38,500	38,500	38,500	38,500	38,500	38,500
Tax-exempt reserves`132`	18,906	18,906	18,906	18,906	18,906	18,906	18,906	18,906	18,906	18,906	18,906	18,906	18,750	18,750	18,750	18,750	18,750	18,750
Distributable reserves`133`	1.4m	1.2m	834,983	1.2m	1.2m	1.2m	1.0m	950,000	800,000	700,000	700,000	700,000	700,000	700,000	600,000	400,000	300,000	161
Profit (loss) carried forward`14`	-	-	0	-347,400	56,251	55,331	54,619	36,137	98,086	134,522	-21,349	-206,126	60,117	115,440	87,442	137,279	98,998	204,943
Investment grants`15`	15,401	18,214	21,129	24,044	34,747	40,490	46,233	46,731	55,415	34,213	39,949	47,006	16,503	19,803	23,104	26,404	30,362	1,315
Provisions and deferred taxes`16`	5,099	6,071	7,043	8,015	11,582	13,995	16,407	32,954	40,379	19,824	43,251	24,204	8,498	10,197	19,652	38,836	39,139	17,632
Provisions for liabilities and charges`160/5`	-	-	-	-	-	-	-	8,891	11,844	2,207	22,680	-	-	-	7,755	25,240	23,405	16,756
Other liabilities and charges`164/5`	-	-	-	-	-	-	-	8,891	-	-	-	-	-	-	-	-	-	-
Deferred taxes`168`	5,099	6,071	7,043	8,015	11,582	13,995	16,407	24,063	28,534	17,617	20,571	24,204	8,498	10,197	11,897	13,596	15,734	876
Amounts payable`17/49`	2.7m	2.6m	2.6m	3.1m	2.4m	2.3m	3.0m	3.5m	3.9m	4.0m	4.2m	4.3m	2.0m	1.0m	1.1m	1.2m	1.5m	1.4m
Amounts payable after more than one year`17`	1.3m	1.7m	1.5m	1.6m	1.3m	1.1m	1.5m	2.0m	2.4m	2.5m	2.6m	2.2m	1.1m	468,663	560,824	653,951	761,194	874,123
Financial debts`170/4`	1.3m	1.3m	1.2m	1.3m	1.0m	888,414	1.3m	1.7m	2.2m	2.2m	2.6m	2.2m	1.1m	468,663	560,824	653,951	761,194	874,123
Trade debts`175`	-	-	251,572	251,572	251,572	251,572	251,572	251,572	251,572	251,572	-	-	-	-	-	-	-	-
Other amounts payable`178/9`	-	354,641	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amounts payable within one year`42/48`	1.5m	919,112	1.1m	1.4m	1.1m	1.1m	1.5m	1.4m	1.5m	1.5m	1.6m	2.1m	880,203	565,483	545,448	548,205	686,843	538,933
Current portion of amounts payable after more than one year`42`	68,091	193,535	166,864	164,344	69,541	397,097	447,452	439,915	403,606	386,030	399,845	319,766	115,553	127,449	128,416	142,679	152,929	106,346
Financial debts`43`	6,545	365	-	-	-	-	-	-	-	-	10	-	-	-	-	-	-	-
Credit institutions`430/8`	6,545	365	-	-	-	-	-	-	-	-	10	-	-	-	-	-	-	-
Trade debts`44`	1.2m	678,916	724,103	146,016	86,265	58,783	46,428	123,204	135,095	185,493	503,981	1.1m	291,934	-	42,708	32,642	6,538	29,293
Suppliers`440/4`	1.2m	678,916	724,103	146,016	86,265	58,783	46,428	123,204	135,095	185,493	503,981	1.1m	291,934	-	42,708	32,642	6,538	29,293
Advances received on contracts in progress`46`	-	-	-	-	5,731	-	-	-	-	-	-	-	-	-	-	-	-	-
Taxes, remuneration and social security`45`	125,318	46,297	221,403	227,277	227,210	196,472	173,267	113,847	84,547	83,184	84,838	52,526	48,423	49,721	46,986	72,796	70,053	42,728
Taxes`450/3`	91,929	3,964	91,202	74,939	95,921	124,884	91,928	46,032	20,293	21,741	16,272	2,350	4,015	6,138	6,885	28,500	28,117	3,737
Remuneration and social security`454/9`	33,389	42,333	130,201	152,338	131,288	71,589	81,339	67,814	64,254	61,443	68,566	50,176	44,408	43,584	40,101	44,296	41,935	38,991
Other amounts payable`47/48`	25,909	-	0	903,100	721,958	480,272	813,091	764,558	849,394	831,839	590,610	608,696	424,293	388,313	327,338	300,088	457,323	360,566
Accrued charges and deferred income`492/3`	-	-	60,114	68,248	13,853	7,905	28,679	29,032	41,146	26,541	32,704	33,294	5,643	10,905	27,328	14,853	33,633	-
Income statement
Non-recurring operating income`76A`	-	-	7,580	-	2,500	5,719	-	128	-	13,650	-	5,023	-	-	-	-	-	-
Gross operating margin`9900`	843,050	1.5m	1.4m	985,838	1.3m	1.4m	1.3m	1.4m	1.3m	1.3m	1.3m	676,757	617,698	806,293	859,912	982,686	1.1m	798,662
Remuneration, social security and pensions`62`	208,891	702,070	840,472	520,886	618,394	627,846	606,035	598,694	587,148	563,531	507,946	429,696	349,714	366,500	367,296	367,939	363,836	362,999
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	377,030	379,765	382,610	712,447	419,464	417,860	465,047	516,107	544,686	481,769	450,877	451,332	287,991	230,904	233,640	285,963	366,283	400,790
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)`631/4`	-	-	-	-	16,785	628	443	-	743	654	2,118	-	50	-	-	-	561	425
Provisions for liabilities and charges: additions (uses and reversals)`635/8`	-	-	-	-	-	-	-8,891	-2,954	9,638	-20,473	22,680	-	-	-7,755	-17,485	1,835	6,649	16,756
Other operating charges`640/8`	15,911	50,826	45,848	35,040	32,819	34,064	38,381	35,167	28,007	31,347	19,832	15,431	21,789	25,276	30,703	25,045	20,175	17,587
Non-recurring operating charges`66A`	-	1	17,878	195	2,339	18,841	1,084	100	215	3,395	10,100	50	118	82	1,765	337	117	858
Operating profit (loss)`9901`	241,218	364,732	67,248	-282,730	223,407	291,861	195,368	210,484	146,772	231,138	257,656	-219,703	-41,845	191,368	245,758	301,905	377,581	105
Financial income`75/76B`	6,292	2,915	24,623	36,649	8,058	5,745	5,511	8,989	9,288	7,848	7,743	9,637	30,831	28,712	25,183	23,559	18,301	12,150
Recurring financial income`75`	6,292	2,915	24,623	36,649	8,058	5,745	5,511	8,989	9,288	7,848	7,743	9,637	30,831	28,712	25,183	23,559	18,301	12,150
Financial charges`65/66B`	41,201	31,632	60,460	161,138	91,680	76,192	91,333	97,578	81,413	97,177	74,261	65,117	46,056	43,560	50,232	75,247	77,671	56,086
Recurring financial charges`65`	41,201	31,632	60,460	161,138	91,680	76,192	91,333	97,578	81,413	97,177	74,261	65,117	46,056	43,560	50,232	75,247	77,671	56,086
Profit (loss) for the period before taxes`9903`	206,309	336,015	31,411	-407,218	139,785	221,414	109,546	121,895	74,432	152,063	181,038	-270,210	-57,188	176,438	218,944	249,881	318,093	-44,690
Transfer from deferred taxes`780`	972	972	972	3,568	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes`67/77`	4,991	323	-	-	11,277	73,114	43,836	38,316	15,326	-99	-105	-334	-165	50,138	70,481	63,738	61,337	-2,862
Profit (loss) for the period`9904`	202,291	336,665	32,383	-403,651	130,920	150,713	68,482	88,051	63,564	155,871	184,777	-266,243	-55,324	127,999	150,163	188,281	258,894	-39,431
Profit (loss) for the period to be appropriated`9905`	202,291	336,665	32,383	-403,651	130,920	150,713	68,482	88,051	63,564	155,871	184,777	-266,243	-55,324	127,999	150,163	188,281	258,894	-39,431
Appropriation of the result
Profit (loss) to be appropriated`9906`	202,291	336,665	-315,017	-347,400	186,251	205,331	104,619	186,137	198,086	134,522	-21,349	-206,126	60,117	215,440	287,442	287,279	463,837	204,943
Profit (loss) brought forward from the previous period`14P`	-	-	-347,400	56,251	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer from equity`791/2`	-	-	315,017	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer to equity`691/2`	202,291	336,665	-	-	-	150,000	50,000	150,000	100,000	-	-	-	-	100,000	200,000	100,000	299,839	-
To other reserves`6921`	202,291	336,665	-	-	-	150,000	50,000	150,000	100,000	-	-	-	-	100,000	200,000	100,000	299,839	-
Profit to be distributed`694/7`	-	-	-	-	130,000	-	-	-	-	-	-	-	-	-	-	50,000	65,000	-
Directors or managers`695`	-	-	-	-	130,000	-	-	-	-	-	-	-	-	-	-	50,000	65,000	-
Social balance sheet
Average staff (FTE)`9087`	6.6	11.6	21.4	19.4	16.9	17.6	16.3	17.4	15.8	13.9	13.4	11	10.7	11.7	11.8	12.5	13.3	12.7
Hours worked`1013`	8,104	7,672	25,206	22,392	23,619	24,648	24,486	24,852	24,038	22,000	21,682	18,153	16,204	17,458	18,600	19,906	21,702	20,834
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Financial year	Type	Filed	Reference	Document
30-09-2024	abbreviated format	30-09-2025	2025-00513348	PDF
30-09-2023	abbreviated format	03-05-2024	2024-00083351	PDF
30-09-2022	abbreviated format	27-04-2023	2023-00072540	PDF
30-09-2021	abbreviated format	19-07-2022	2022-20197921	PDF
31-12-2019	abbreviated format	22-06-2020	2020-20800142	PDF
31-12-2018	abbreviated format	26-08-2019	2019-52200574	PDF
31-12-2017	abbreviated format	31-08-2018	2018-61300512	PDF
31-12-2016	abbreviated format	31-08-2017	2017-59800100	PDF
31-12-2015	abbreviated format	23-08-2016	2016-47200447	PDF
31-12-2014	abbreviated format	17-08-2015	2015-44300381	PDF
31-12-2013	abbreviated format	28-08-2014	2014-56200430	PDF
31-12-2012	abbreviated format	01-07-2013	2013-27200373	PDF
31-12-2011	abbreviated format	27-08-2012	2012-51700429	PDF
31-12-2010	abbreviated format	30-08-2011	2011-48500091	PDF
31-12-2009	abbreviated format	10-08-2010	2010-40200600	PDF
31-12-2008	abbreviated format	10-07-2009	2009-40600053	PDF
31-12-2007	abbreviated format	19-07-2008	2008-47800061	PDF
31-12-2006	abbreviated format	20-09-2007	2007-73000055	PDF
31-12-2005	abbreviated format	14-07-2006	2006-47205027	PDF
31-12-2004	abbreviated format	19-08-2005	2005-65001257	PDF
31-12-2003	abbreviated format	02-07-2004	2004-39102008	PDF
31-12-2002	abbreviated format	30-07-2003	2003-55600432	PDF
31-12-2001	abbreviated format	13-08-2002	2002-47602319	PDF
31-12-2000	abbreviated format	27-07-2001	2001-43703546	PDF
31-12-1999	abbreviated format	24-07-2000	2000-44804349	PDF
31-12-1998	abbreviated format	29-09-1999	1999-50004625	PDF
31-12-1997	abbreviated format	31-07-1998	1998-38602288	PDF
31-12-1996	abbreviated format	26-09-1997	1997-46102215	PDF
31-12-1995	abbreviated format	02-08-1996	1996-39205157	PDF
31-12-1994	abbreviated format	09-08-1995	1995-45401572	PDF
31-12-1993	abbreviated format	14-07-1994	1994-30503472	PDF
31-12-1992	abbreviated format	05-07-1993	1993-23700874	PDF

Year	Entries	Awarded	Paid
2025	2	€0	€0
2023	1	€0	€30,607
2022	1	€51,012	€0

Line	2024	2023	2022	2021	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
EBITDA	618,248	744,497	449,858	429,717	642,871	709,720	660,415	726,591	691,459	712,907	708,534	231,629	246,145	422,272	479,398	587,868	743,864	400,895
Cash flow	579,321	716,429	414,993	308,797	550,384	568,572	533,529	604,158	608,250	637,640	635,655	185,089	232,667	358,903	383,802	474,243	625,177	361,359
Investment in fixed assets	7,932	231,841	64,324	42,953	114,944	28,265	39,961	223,558	705,671	180,084	509,103	2.9m	1.3m	123,772	39,581	311,044	467,284	1.1m
Change in cash	-	-	-2,352	-	55,845	-197,826	55,487	-111,050	-77,868	178,411	149,420	-157,511	-154,157	254,001	10,617	-191,709	249,094	-
Working capital	1.0m	837,094	229,220	-12,565	-626,115	-1.0m	-1.2m	-1.2m	-1.2m	-1.1m	-1.4m	-1.9m	-278,058	118,517	4,474	-236,896	-219,814	-284,525
Solvency	40.1%	38.7%	32.9%	29.2%	41.3%	42.4%	33.5%	29.7%	26.1%	24.8%	21.5%	18.4%	37.4%	54.8%	50.0%	44.5%	36.4%	31.2%
Current ratio	1.69	1.91	1.21	0.99	0.44	0.07	0.19	0.15	0.21	0.28	0.14	0.11	0.68	1.21	1.01	0.57	0.68	0.47
Quick ratio	1.67	1.88	1.17	0.98	0.43	0.06	0.18	0.14	0.21	0.27	0.14	0.10	0.68	1.20	1.00	0.56	0.67	0.46
Debt to equity	1.49	1.58	2.04	2.42	1.42	1.35	1.97	2.34	2.81	3.02	3.62	4.41	1.66	0.82	0.98	1.21	1.70	2.18
ROE	11.0%	20.6%	2.5%	-31.8%	7.8%	8.9%	4.4%	6.0%	4.6%	11.9%	15.9%	-27.1%	-4.5%	10.0%	13.0%	18.7%	29.7%	-6.1%
ROA	4.4%	8.0%	0.8%	-9.3%	3.2%	3.8%	1.5%	1.8%	1.2%	2.9%	3.4%	-5.0%	-1.7%	5.5%	6.5%	8.3%	10.8%	-1.9%
Interest coverage	15.01	23.54	7.44	2.67	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Item	30-09-2024	30-09-2023	30-09-2022	30-09-2021
Employees at the balance-sheet date	-	20	29	29
full-time	-	14	20	14
part-time	-	6	9	15
in full-time equivalents	-	17.4	26.3	26.1
Average over the year, in full-time equivalents	6.6	11.6	21.4	19.4
On a permanent contract	-	17	17	10
Joined	17	29	85	33
Left	35	20	76	26

VANCOBER

Annual accounts 2024

Balance sheet

Change in equityin €m

Change in cash

Position in the sector

Solvency40.1%

Current ratio1.69

Return on assets4.4%

Staff

Staff cost per FTE€31,650

Joined and left-18

Filed annual accounts

Filings

Subsidies and aid

Flemish government 2022 to 2025, 4 entries, €51,012 awarded, €30,607 paid

Key figures and ratios

Social balance sheet

Securities and guarantees

Investments

Insights on VANCOBER

Item	30-09-2024	30-09-2023	30-09-2022	30-09-2021
Debts secured on the company's own assets	-	€847,525	-	-
Mortgages, amount registered	-	-	€25,000	-
Pledge on the business	€1.3m	€1.3m	€1.3m	-

Item	30-09-2024	30-09-2023	30-09-2022	30-09-2021
Tangible fixed assets	€7,932	€231,841	€64,324	€42,953
Depreciation and write-downs of the year	€377,030	€379,765	€382,610	€712,447