VANDAPOWER
ActiveSummary
VANDAPOWER has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.7m and a net result of €155,395. Equity remains stable across the filed fiscal years (±0.5% per year). Its solvency ranks better than 17% of 5048 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2025
Profitability45▲+5
Solvency40▼-2
Growth35▼-9
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €85,000 at 30 days acceptable
Liquidity tight (current ratio 1.17; short-term debt: 80.1% and cash: 1.6% of total assets), and 84.7% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Seven 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
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
15.3%
Return on assets
1.4%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 5048 sector peers (2025).
NBB · sector comparisonPosition among 5048 sector peers
Solvency
better than 17%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2024 and did not fall compared with 2025. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1920212223242525
2019 to 2025 · latest year €1.7m
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 15-07-2026, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
16 d early
2025
16 d early
2024
70 d early
2023
4 d early
2022
3 d early
2021
3 d early
2020
4 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 17 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
In the rankings
#4 company by total assets in Erpe-Mere, Wholesale and retail trade sector#8 employer in Erpe-Mere, Wholesale and retail trade sector
Turnover
€11.6m▼ 26.5%
2025 · €15.8m
EBIT margin
2.0%=
2025 · 2.0%
Net result
€155,395▲ 56.0%
2025 · €99,623
Working capital
€1.5m▲ 5.6%
2025 · €1.5m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20222023202420252025
Turnover€16.7m▲ 57.5%€16.3m▼ 2.2%€18.0m▲ 9.9%€15.8m▼ 12.1%€11.6m-
Operating result€80,826▼ 51.6%€86,752▲ 7.3%€534,206▲ 516%€312,504▼ 41.5%€231,779-
Net result€7,977below the sector's middle half▼ 93.8%€97,059within the sector's middle half▲ 1,117%€309,222within the sector's middle half▲ 219%€99,623within the sector's middle half▼ 67.8%€155,395within the sector's middle half-
EBIT margin0.5%▼ 1.1pp0.5%=3.0%▲ 2.4pp2.0%▼ 1.0pp2.0%-
Equity€918,376within the sector's middle half▲ 0.9%€1.0mwithin the sector's middle half▲ 10.6%€1.5mwithin the sector's middle half▲ 44.9%€1.6mwithin the sector's middle half▲ 6.8%€1.7mwithin the sector's middle half-
Total assets€9.6mwithin the sector's middle half▲ 73.5%€9.1mwithin the sector's middle half▼ 5.4%€9.1mwithin the sector's middle half▲ 0.5%€9.4mwithin the sector's middle half▲ 2.9%€11.3mwithin the sector's middle half-
Debt€8.7m▲ 87.8%€8.1m▼ 7.1%€7.7m▼ 5.1%€7.8m▲ 2.2%€9.5m-
Working capital€1.9mwithin the sector's middle half▼ 8.5%€1.7mwithin the sector's middle half▼ 10.1%€1.8mwithin the sector's middle half▲ 1.3%€1.5mwithin the sector's middle half▼ 16.9%€1.5mwithin the sector's middle half-
Solvency9.5%below the sector's middle half▼ 6.9pp11.2%below the sector's middle half▲ 1.6pp16.1%below the sector's middle half▲ 4.9pp16.7%below the sector's middle half▲ 0.6pp15.3%below the sector's middle half-
Current ratio1.27within the sector's middle half▼ 0.421.26within the sector's middle half▼ 0.011.26within the sector's middle half=1.20below the sector's middle half▼ 0.061.17below the sector's middle half-
Return on assets (ROA)0.1%below the sector's middle half▼ 2.2pp1.1%within the sector's middle half▲ 1.0pp3.4%within the sector's middle half▲ 2.3pp1.1%within the sector's middle half▼ 2.3pp1.4%within the sector's middle half-
Staff (FTE)4.1within the sector's middle half▼ 4.7%3.2below the sector's middle half▼ 22.0%35.8above the sector's middle half▲ 1,019%33.2above the sector's middle half▼ 7.3%23.7within the sector's middle half-
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
Multiple fiscal year ends fall in the same calendar year; an annual trend is not displayed.
Balance-sheet composition
2025 in colour, 2025 as the grey bar beneath
Assets €11.3m
Fixed assets
€693,710 ▼ 6.3%
Current assets
€10.6m ▲ 21.8%
Equity and liabilities €11.3m
Equity
€1.7m ▲ 9.9%
Debt
€9.5m ▲ 21.5%
Debt's share of the balance-sheet total rises from 83.3% to 84.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€356,835▼
2025 · €477,807
Cash flow
€280,451▲
2025 · €264,926
Quick ratio
0.85▲
2025 · 0.81
Debt to equity
5.52▲
2025 · 4.99
ROE
9.0%▲
2025 · 6.3%
Interest coverage
3.72▲
2025 · 2.84
Debt ≤ 1 year
€9.0m▲
2025 · €7.2m
Debt > 1 year
€371,327▼
2025 · €619,410
Income taxes
-€2,132▼
2025 · €54,241
Staff costs
€1.2m▼
2025 · €2.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,681 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 97% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.1%
went bankrupt
2.0%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 4,681 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €16.8m | €16.9m | €18.4m | €16.3m | €12.6m | - |
| Turnover70 | €16.7m | €16.3m | €18.0m | €15.8m | €11.6m | - |
| Other operating income74 | €122,647 | €580,969 | €490,289 | €469,634 | €1.0m | - |
| Non-recurring operating income76A | - | - | - | €6,253 | €0 | - |
| Operating charges60/66A | €16.7m | €16.8m | €17.9m | €16.0m | €12.4m | - |
| Goods for resale, raw materials and consumables60 | €11.8m | €11.1m | €11.9m | €10.1m | €7.9m | - |
| Purchases600/8 | €12.3m | €11.7m | €11.9m | €9.7m | €8.0m | - |
| Change in stocks: decrease (increase)609 | -€520,281 | -€523,366 | -€27,770 | €407,598 | -€45,763 | - |
| Services and other goods61 | €4.6m | €5.4m | €5.2m | €3.6m | €3.0m | - |
| Remuneration, social security and pensions62 | €218,741 | €174,042 | €671,955 | €2.1m | €1.2m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €128,178 | €100,914 | €118,724 | €165,303 | €125,056 | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €34,857 | - |
| Other operating charges640/8 | €8,106 | €8,196 | €25,558 | €24,096 | €21,965 | - |
| Non-recurring operating charges66A | - | - | - | €84 | €0 | - |
| Operating profit (loss)9901 | €80,826 | €86,752 | €534,206 | €312,504 | €231,779 | - |
| Financial income75/76B | €111,227 | €178,072 | €93,042 | €41,462 | €54,984 | - |
| Recurring financial income75 | €111,227 | €178,072 | €93,042 | €41,462 | €54,984 | - |
| Income from current assets751 | €7,253 | €87,248 | €62,265 | €28,086 | €15,033 | - |
| Other financial income752/9 | €103,974 | €90,825 | €30,776 | €13,376 | €39,951 | - |
| Financial charges65/66B | €104,808 | €130,507 | €204,573 | €200,102 | €133,500 | - |
| Recurring financial charges65 | €104,808 | €130,507 | €204,573 | €199,852 | €128,804 | - |
| Debt charges650 | €57,998 | €77,078 | €158,276 | €168,483 | €95,948 | - |
| Other financial charges652/9 | €46,810 | €53,429 | €46,297 | €31,369 | €32,855 | - |
| Non-recurring financial charges66B | - | - | - | €250 | €4,696 | - |
| Profit (loss) for the period before taxes9903 | €87,245 | €134,317 | €422,675 | €153,864 | €153,263 | - |
| Income taxes67/77 | €79,269 | €37,258 | €113,453 | €54,241 | -€2,132 | - |
| Taxes670/3 | €79,269 | €37,258 | €113,453 | €54,241 | €50,552 | - |
| Tax adjustments and reversals of tax provisions77 | - | - | - | - | €52,684 | - |
| Profit (loss) for the period9904 | €7,977 | €97,059 | €309,222 | €99,623 | €155,395 | - |
| Transfer from tax-exempt reserves789 | €186,817 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €194,793 | €97,059 | €309,222 | €99,623 | €155,395 | - |
| Line | 2022 | 2023 | 2024 | 2025 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €9.6m | €9.1m | €9.1m | €9.4m | €11.3m | - |
| Fixed assets21/28 | €478,087 | €573,854 | €626,724 | €740,077 | €693,710 | - |
| Intangible fixed assets21 | €18,684 | €22,939 | €25,820 | €142,708 | €117,726 | - |
| Tangible fixed assets22/27 | €459,335 | €550,847 | €587,153 | €556,118 | €534,733 | - |
| Land and buildings22 | €570 | €514 | €7,474 | €46,946 | €56,019 | - |
| Plant, machinery and equipment23 | €196,063 | €181,938 | €228,251 | €208,536 | €231,267 | - |
| Furniture and vehicles24 | €25,962 | €20,607 | €54,183 | €54,512 | €39,667 | - |
| Other tangible fixed assets26 | €236,741 | €347,789 | €297,246 | €246,123 | €207,781 | - |
| Financial fixed assets28 | €68 | €68 | €13,751 | €41,251 | €41,251 | - |
| Affiliated companies280/1 | €68 | €68 | €1 | €1 | €1 | - |
| Participating interests280 | €68 | €68 | €1 | €1 | €1 | - |
| Other financial fixed assets284/8 | - | - | €13,750 | €41,250 | €41,250 | - |
| Amounts receivable and cash guarantees285/8 | - | - | €13,750 | €41,250 | €41,250 | - |
| Current assets29/58 | €9.1m | €8.5m | €8.5m | €8.7m | €10.6m | - |
| Amounts receivable after more than one year29 | - | - | - | - | €3.1m | - |
| Trade receivables290 | - | - | - | - | €3.1m | - |
| Stocks and contracts in progress3 | €2.7m | €3.2m | €3.2m | €2.8m | €2.9m | - |
| Stocks30/36 | €2.7m | €3.2m | €3.2m | €2.8m | €2.9m | - |
| Goods purchased for resale34 | €2.7m | €3.2m | €3.2m | €2.8m | €2.9m | - |
| Amounts receivable within one year40/41 | €4.5m | €4.8m | €5.0m | €5.7m | €4.3m | - |
| Trade receivables40 | €3.7m | €2.8m | €4.1m | €5.0m | €3.5m | - |
| Other amounts receivable41 | €771,258 | €2.0m | €843,235 | €693,895 | €801,459 | - |
| Cash at bank and in hand54/58 | €1.9m | €392,559 | €228,372 | €112,668 | €175,516 | - |
| Deferred charges and accrued income490/1 | €36,706 | €109,260 | €69,365 | €80,203 | €56,036 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €9.6m | €9.1m | €9.1m | €9.4m | €11.3m | - |
| Equity10/15 | €918,376 | €1.0m | €1.5m | €1.6m | €1.7m | - |
| Contributions10/11 | €61,500 | €61,500 | €80,100 | €80,100 | €80,100 | - |
| Capital10 | €61,500 | €61,500 | €80,100 | €80,100 | €80,100 | - |
| Issued capital100 | €61,500 | €61,500 | €98,700 | €98,700 | €98,700 | - |
| Uncalled capital101 | - | - | €18,600 | €18,600 | €18,600 | - |
| Reserves13 | €662,083 | €953,935 | €1.4m | €1.5m | €1.6m | - |
| Non-distributable reserves130/1 | €6,150 | €6,150 | €9,870 | €9,870 | €9,870 | - |
| Legal reserve130 | €6,150 | €6,150 | €9,870 | €9,870 | €9,870 | - |
| Tax-exempt reserves132 | €914 | €914 | €914 | €914 | €914 | - |
| Distributable reserves133 | €655,018 | €946,871 | €1.4m | €1.5m | €1.6m | - |
| Profit (loss) carried forward14 | €194,793 | - | - | - | - | - |
| Amounts payable17/49 | €8.7m | €8.1m | €7.7m | €7.8m | €9.5m | - |
| Amounts payable after more than one year17 | €1.5m | €1.2m | €909,695 | €619,410 | €371,327 | - |
| Financial debts170/4 | €1.5m | €1.2m | €909,695 | €619,410 | €371,327 | - |
| Credit institutions173 | €1.5m | €1.2m | €909,695 | €619,410 | €371,327 | - |
| Amounts payable within one year42/48 | €7.2m | €6.8m | €6.8m | €7.2m | €9.0m | - |
| Current portion of amounts payable after more than one year42 | €293,858 | €297,264 | €462,335 | €324,147 | €259,158 | - |
| Financial debts43 | €2.8m | €2.8m | €2.8m | €2.9m | €2.9m | - |
| Credit institutions430/8 | €2.8m | €2.8m | €2.8m | €2.9m | €2.9m | - |
| Trade debts44 | €4.1m | €3.7m | €3.2m | €3.3m | €5.1m | - |
| Suppliers440/4 | €4.1m | €3.7m | €3.2m | €3.3m | €5.1m | - |
| Taxes, remuneration and social security45 | €40,314 | €59,953 | €375,256 | €315,309 | €195,604 | - |
| Taxes450/3 | €5,747 | €37,810 | €96,174 | €23,555 | €24,073 | - |
| Remuneration and social security454/9 | €34,567 | €22,144 | €279,081 | €291,754 | €171,531 | - |
| Other amounts payable47/48 | €18,530 | €499 | - | €362,079 | €552,995 | - |
| Accrued charges and deferred income492/3 | €6,617 | €107,433 | €11,174 | €16,168 | €144,687 | - |
| Line | 2022 | 2023 | 2024 | 2025 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,977 | €97,059 | €309,222 | €99,623 | €155,395 | - |
| + Depreciation and write-downs630 | €128,178 | €100,914 | €118,724 | €165,303 | €125,056 | - |
| Operating cash flow (approximation) | €136,154 | €197,973 | €427,947 | €264,926 | €280,451 | - |
| Investment in fixed assets (approximation) | - | -€196,681 | -€171,595 | -€278,655 | - | - |
| Change in cash | - | -€1.5m | -€164,187 | -€115,705 | - | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2026
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
15-10
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2024
22-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2023
27-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
31-03
Financial
Equity above €1mEq €1.0m ▲10.6%
5 profitable years in a row build equity to €1.0m.
2022
28-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
31-03
Financial
Weakest financial yearnet €7,977 ▼93.8%
Net result drops to €7,977, the lowest in the series; recovery starts the following year.
2021
28-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2020
27-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
04-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
23-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
25-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 13 acts read
About the unread acts
We know of 13 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
13 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, Erpe-Mere · 1 establishment unit since 2003
Ground area
5,473 m²
Building footprint
2,864 m²
Volume, LiDAR
15,458 m³
Parcel 41016D0698/00B000, Flanders · tallest building 7.7 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
VANDAPOWER
since 20032.132.827.288
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41016D0698/00B000 | Flanders | 5,473 m² | 1 · 2,864 m² | 7.7 m · 2 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.
Structure & network
Owners and holdings
1 ownerChain of control
- AIM
- Vandapower Group
- VANDAPOWER
Highest known parent: AIM. The sources do not say who stands above it.
Owners 1
- Vandapower GroupparentSourceown accounts 2025100%
Holdings 0
The accounts to 31-12-2025 list no holdings, and no other source names one.
According to the 2025 annual accounts of VANDAPOWER and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 2,779 EUR awarded · 1,079 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 1,700 EUR | 937 EUR |
| 2024 | 1 | 937 EUR | 0 EUR |
| 2022 | 1 | 142 EUR | 142 EUR |
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Of 1,243 companies in sector 46643 we hold annual accounts for 954. 653 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
Founded14-08-2003
Fiscal year end31-12
Activities, NACEBEL 2025
46643Wholesale of electrical equipment, including installation materials
E-invoicing
Reachable via Peppol
Peppol ID
0208:0860092268
Registered
20-02-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.