Vanda Projects
ActiveVanda Projects has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €266k and a net result of €38k. Equity is growing by ~19.8% per year across the filed fiscal years. Its solvency ranks better than 61% of 2024 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
65
/ 100
Healthy▼ -31 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability72▼-27
Solvency73▼-11
Growth78=
Stability100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €17k at 30 days acceptable
Liquidity short (current ratio 0.88 against 1.28 in 2024), and 43.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 85
Relative position
BE, all sectors
reference
Sector 85
lower
← 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 2025Solvency, return and age of the figures
Solvency
56.9%
Return on assets
8.2%
Age of the figures
8 mo
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 06-07-2026, 25 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
25 d early
2024
340 d late
2023
40 d early
2022
42 d early
2021
41 d early
2020
30 d early
2019
39 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
14-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€266k▼ 1.3%
2024 · €269k
2018: €69k
2019: €88k
2020: €126k
2021: €135k
2022: €162k
2023: €216k
2024: €269k
2018 → 2025
Total assets
€466k▲ 24.2%
2024 · €376k
2018: €157k
2019: €193k
2020: €188k
2021: €318k
2022: €290k
2023: €368k
2024: €376k
2018 → 2025
Net result
€38k▼ 28.2%
2024 · €53k
2018: €23k
2019: €19k
2020: €37k
2021: €9k
2022: €27k
2023: €53k
2024: €53k
2018 → 2025
Working capital
€-12k
2024 · €28k
2018: €18k
2019: €40k
2020: €76k
2021: €77k
2022: €-69k
2023: €-42k
2024: €28k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€135k-€162k▲ 20.3%€216k▲ 32.8%€269k▲ 24.8%€266k▼ 1.3%
Operating result€16k-€45k▲ 181%€64k▲ 41.0%€84k▲ 32.1%€60k▼ 29.1%
Net result€9k-€27k▲ 192%€53k▲ 94.8%€53k▲ 0.3%€38k▼ 28.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 29% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €466k
Fixed assets
€377k▲ 54.1%
Current assets
€89k▼ 31.8%
Equity and liabilities €466k
Equity
€266k▼ 1.3%
Debt
€201k▲ 88.5%
The debt ratio rises from 28.4% to 43.1%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€117k▲
2024 · €113k
Cash flow
€96k▲
2024 · €82k
Solvency
56.9%▼
2024 · 71.6%
Current ratio
0.88▼
2024 · 1.28
Quick ratio
0.88▼
2024 · 1.28
Debt / equity
0.76▲
2024 · 0.40
ROE
14.5%▼
2024 · 19.9%
ROA
8.2%▼
2024 · 14.2%
Interest coverage
36.71▲
2024 · 19.32
Debt
€201k▲
2024 · €107k
Debt ≤ 1 year
€101k▼
2024 · €102k
Debt > 1 year
€100k
Income taxes
€18k▼
2024 · €25k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€376k€466k▲
Fixed assets21/28€245k€377k▲
Intangible fixed assets21€0-
Tangible fixed assets22/27€245k€377k▲
Land and buildings22€200k€339k▲
Plant, machinery and equipment23€4k€1k▼
Furniture and vehicles24€39k€35k▼
Other tangible fixed assets26€2k€974▼
Current assets29/58€131k€89k▼
Amounts receivable within one year40/41€2k-
Trade receivables40€2k-
Cash at bank and in hand54/58€126k€87k▼
Deferred charges and accrued income490/1€2k€3k▲
Equity and liabilities
Total equity and liabilities10/49€376k€466k▲
Equity10/15€269k€266k▼
Contributions10/11€20k€19k▼
Reserves13€249k€247k▼
Distributable reserves133€249k€247k▼
Amounts payable17/49€107k€201k▲
Amounts payable after more than one year17-€100k
Financial debts170/4-€100k
Amounts payable within one year42/48€102k€101k▼
Current portion of amounts payable after more than one year42-€30k
Trade debts44€1k€1k▼
Suppliers440/4€1k€1k▼
Taxes, remuneration and social security45€14k€10k▼
Taxes450/3€14k€10k▼
Other amounts payable47/48€88k€60k▼
Accrued charges and deferred income492/3€4k-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€29k€58k▲
Other operating charges640/8€1k€2k▲
Gross operating margin9900€114k€120k▲
Operating profit (loss)9901€84k€60k▼
Financial income75/76B€2€250▲
Recurring financial income75€2€250▲
Financial charges65/66B€6k€3k▼
Recurring financial charges65€6k€3k▼
Profit (loss) for the period before taxes9903€78k€57k▼
Income taxes67/77€25k€18k▼
Profit (loss) for the period9904€53k€38k▼
Profit (loss) for the period to be appropriated9905€53k€38k▼
Appropriation of the result
Profit (loss) to be appropriated9906€53k€38k▼
Transfer from equity791/2-€42k
Transfer to equity691/2€53k€38k▼
To other reserves6921€53k€38k▼
Profit to be distributed694/7-€42k
Return on contributions (dividend)694-€42k
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
06-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
06-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 340 days late
2024
31-12
Financial
Highest result since 2018net €53k ▲0.3%
Operating result €84k, net result €53k, both a record.
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €200kEq €216k ▲32.8%
6 profitable years in a row build equity to €216k.
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €150kEq €162k ▲20.3%
5 profitable years in a row build equity to €162k.
20-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €9k ▼75%
Net result drops to €9k, the lowest in the series; recovery starts the following year.
01-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €100kEq €126k ▲42.4%
3 profitable years in a row build equity to €126k.
22-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
24-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
18-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Ingelmunster · 1 establishment unit since 2015
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.
Meulebekestraat 8A8770 IngelmunsterGround area
2,096 m²
Building footprint
709 m²
Volume, LiDAR
2,946 m³
Parcel 36007B0511/00P000, Flanders · tallest building 12.1 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Vanda Projects
since 20152.244.995.120
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36007B0511/00P000 | Flanders | 2,096 m² | 1 · 709 m² | 12.1 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 294 companies in sector 85532 we hold annual accounts for 83. 51 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded24-08-2015
Fiscal year end31-12
Activities, NACEBEL
85532Education
46180Agents specialised in the wholesale of other particular products
46190Agents in non-specialised wholesale trade
51100Air transport
51210Air transport
77350Rental and leasing activities
85329Education
85699Other educational support services
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.