VANDAVEE
ActiveSummary
VANDAVEE has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€186,600) and a net result of €1,976. Equity remains stable across the filed fiscal years (±0.7% per year). Its solvency ranks better than 5% of 3158 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability70=
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.4 against 0.42 in 2024; short-term debt: 198.9% and cash: 2.4% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 01
Relative position
BE, all sectors
reference
Crop and animal production, hunting and related service activities (NACE 01)
about 70% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-100.7%
Return on assets
1.1%
Age of the figures
12 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 3158 sector peers (2025).
NBB · sector comparisonPosition among 3158 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 16-04-2026, 14 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
14 d early
2024
27 d early
2023
13 d early
2022
19 d early
2021
18 d early
2020
1 d early
2019
1 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 13 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 37% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€186,600▲ 1.0%
2024 · -€188,576
Total assets
€185,351▼ 15.1%
2024 · €218,399
Net result
€1,976▲ 10.2%
2024 · €1,793
Working capital
-€221,564▲ 4.6%
2024 · -€232,314
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 01, Crop and animal production, hunting and related service activities, 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
Line20212022202320242025
Operating result€6,394▲ 41.2%-€210€5,027€3,220▼ 35.9%€2,500▼ 22.4%
Net result€1,109within the sector's middle half▲ 965%€1,209within the sector's middle half▲ 9.1%€2,991within the sector's middle half▲ 147%€1,793within the sector's middle half▼ 40.0%€1,976within the sector's middle half▲ 10.2%
Equity-€194,569below the sector's middle half▲ 0.6%-€193,360below the sector's middle half▲ 0.6%-€190,369below the sector's middle half▲ 1.5%-€188,576below the sector's middle half▲ 0.9%-€186,600below the sector's middle half▲ 1.0%
Total assets€433,153within the sector's middle half▲ 44.8%€279,173within the sector's middle half▼ 35.5%€286,681within the sector's middle half▲ 2.7%€218,399within the sector's middle half▼ 23.8%€185,351within the sector's middle half▼ 15.1%
Debt€627,722▲ 26.9%€472,533▼ 24.7%€477,051▲ 1.0%€406,975▼ 14.7%€371,951▼ 8.6%
Working capital-€269,100▲ 1.8%-€244,821▲ 9.0%-€236,745▲ 3.3%-€232,314▲ 1.9%-€221,564▲ 4.6%
Solvency-44.9%below the sector's middle half▲ 20.5pp-69.3%below the sector's middle half▼ 24.3pp-66.4%below the sector's middle half▲ 2.9pp-86.3%below the sector's middle half▼ 19.9pp-100.7%below the sector's middle half▼ 14.3pp
above
within
below
the middle half (P25 to P75) of NACE 01, Crop and animal production, hunting and related service activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 22% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €185,351
Fixed assets
€38,176 ▼ 27.6%
Current assets
€147,175 ▼ 11.2%
Key figures and ratios
EBITDA
€17,072▼
2024 · €17,792
Cash flow
€16,548▲
2024 · €16,366
Current ratio
0.40▼
2024 · 0.42
Quick ratio
0.05▼
2024 · 0.06
Debt to equity
-1.99▲
2024 · -2.16
ROA
1.1%▲
2024 · 0.8%
Interest coverage
12.68▲
2024 · 12.38
Debt ≤ 1 year
€368,739▼
2024 · €397,965
Debt > 1 year
€3,212▼
2024 · €9,010
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,447 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 92% are still going.
- Micro
- 20 years or older
- negative equity
- a profit under 5% of the balance sheet
2.1%
went bankrupt
4.8%
stopped otherwise
92%
still going
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 1,447 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €992 | €413 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,739 | €17,199 | €16,582 | €14,572 | €14,572 | = |
| Other operating charges640/8 | €2,732 | €8,739 | €10,405 | €5,855 | €3,559 | ▼ 39.2% |
| Gross operating margin9900 | €25,865 | €25,728 | €32,014 | €23,647 | €20,632 | ▼ 12.8% |
| Operating profit (loss)9901 | €6,394 | -€210 | €5,027 | €3,220 | €2,500 | ▼ 22.4% |
| Financial income75/76B | €6 | €4,568 | €167 | €10 | €822 | ▲ 8,075% |
| Recurring financial income75 | €6 | €4,568 | €167 | €10 | €822 | ▲ 8,075% |
| Financial charges65/66B | €5,291 | €3,149 | €2,204 | €1,437 | €1,347 | ▼ 6.3% |
| Recurring financial charges65 | €5,291 | €3,149 | €2,204 | €1,437 | €1,347 | ▼ 6.3% |
| Profit (loss) for the period before taxes9903 | €1,109 | €1,209 | €2,991 | €1,793 | €1,976 | ▲ 10.2% |
| Profit (loss) for the period9904 | €1,109 | €1,209 | €2,991 | €1,793 | €1,976 | ▲ 10.2% |
| Profit (loss) for the period to be appropriated9905 | €1,109 | €1,209 | €2,991 | €1,793 | €1,976 | ▲ 10.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €433,153 | €279,173 | €286,681 | €218,399 | €185,351 | ▼ 15.1% |
| Fixed assets21/28 | €96,101 | €83,902 | €67,320 | €52,748 | €38,176 | ▼ 27.6% |
| Intangible fixed assets21 | €2,377 | €1,783 | €1,189 | €594 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €93,723 | €82,119 | €66,131 | €52,153 | €38,176 | ▼ 26.8% |
| Land and buildings22 | €60,784 | €54,706 | €48,628 | €42,550 | €36,472 | ▼ 14.3% |
| Plant, machinery and equipment23 | €5,094 | €6,467 | €3,458 | €2,458 | €1,458 | ▼ 40.7% |
| Furniture and vehicles24 | €27,846 | €20,946 | €14,046 | €7,146 | €246 | ▼ 96.6% |
| Current assets29/58 | €337,052 | €195,272 | €219,361 | €165,651 | €147,175 | ▼ 11.2% |
| Stocks and contracts in progress3 | €213,198 | €163,099 | €190,650 | €141,500 | €129,515 | ▼ 8.5% |
| Stocks30/36 | €213,198 | €163,099 | €190,650 | €141,500 | €129,515 | ▼ 8.5% |
| Amounts receivable within one year40/41 | €123,854 | €25,052 | €27,593 | €23,487 | €13,283 | ▼ 43.4% |
| Trade receivables40 | €123,854 | €25,052 | €4,436 | €23,487 | €13,113 | ▼ 44.2% |
| Other amounts receivable41 | - | - | €23,157 | €0 | €170 | - |
| Cash at bank and in hand54/58 | - | €6,713 | €709 | €664 | €4,378 | ▲ 560% |
| Deferred charges and accrued income490/1 | - | €409 | €409 | €0 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €433,153 | €279,173 | €286,681 | €218,399 | €185,351 | ▼ 15.1% |
| Equity10/15 | -€194,569 | -€193,360 | -€190,369 | -€188,576 | -€186,600 | ▲ 1.0% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €1,832 | €1,832 | €1,832 | €1,832 | €1,832 | = |
| Non-distributable reserves130/1 | €1,832 | €1,832 | €1,832 | €1,832 | €1,832 | = |
| Reserves not available under the articles1311 | €1,832 | €1,832 | €1,832 | €1,832 | €1,832 | = |
| Distributable reserves133 | - | - | - | €0 | - | - |
| Profit (loss) carried forward14 | -€214,994 | -€213,784 | -€210,793 | -€209,000 | -€207,024 | ▲ 0.9% |
| Amounts payable17/49 | €627,722 | €472,533 | €477,051 | €406,975 | €371,951 | ▼ 8.6% |
| Amounts payable after more than one year17 | €21,570 | €32,441 | €20,944 | €9,010 | €3,212 | ▼ 64.4% |
| Financial debts170/4 | €21,570 | €32,441 | €20,944 | €9,010 | €3,212 | ▼ 64.4% |
| Amounts payable within one year42/48 | €606,153 | €440,092 | €456,106 | €397,965 | €368,739 | ▼ 7.3% |
| Current portion of amounts payable after more than one year42 | €6,791 | €11,084 | €11,497 | €11,934 | €5,798 | ▼ 51.4% |
| Financial debts43 | €28,056 | €3,575 | €0 | - | - | - |
| Credit institutions430/8 | €28,056 | €3,575 | €0 | - | - | - |
| Trade debts44 | €313,057 | €162,735 | €173,193 | €120,010 | €81,174 | ▼ 32.4% |
| Suppliers440/4 | €313,057 | €162,735 | €173,193 | €120,010 | €81,174 | ▼ 32.4% |
| Taxes, remuneration and social security45 | €724 | €10,236 | €22,616 | €1,816 | €948 | ▼ 47.8% |
| Taxes450/3 | €724 | €10,236 | €22,616 | €1,816 | €948 | ▼ 47.8% |
| Other amounts payable47/48 | €257,526 | €252,463 | €248,800 | €264,204 | €280,819 | ▲ 6.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,109 | €1,209 | €2,991 | €1,793 | €1,976 | ▲ 10.2% |
| + Depreciation and write-downs630 | €16,739 | €17,199 | €16,582 | €14,572 | €14,572 | = |
| Operating cash flow (approximation) | €17,848 | €18,408 | €19,572 | €16,366 | €16,548 | ▲ 1.1% |
| Investment in fixed assets (approximation) | - | -€5,000 | €0 | €0 | €0 | - |
| Change in cash | - | - | -€6,003 | -€46 | €3,714 | ▲ 8,207% |
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
Next filing, fiscal year 2026, expected by
2026
16-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
03-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
17-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
11-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
12-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Back to profitnet €104
Net result €104 after one loss-making year.
29-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Weakest financial yearnet -€30,308
Net result drops to -€30,308, the lowest in the series; recovery starts the following year.
18-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
23-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
04-04
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.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Middelkerke · 1 establishment unit since 1993
Ground area
6,735 m²
Building footprint
302 m²
Volume, LiDAR
1,363 m³
Parcel 35018C0458/00P002, Flanders · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Brugsesteenweg 36, 8433 Middelkerke
since 19932.064.210.379
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35018C0458/00P002 | Flanders | 6,735 m² | 1 · 302 m² | 7.8 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteMiddelkerke2.064.210.379
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 7,634 companies in sector 01410 we hold annual accounts for 1,848. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded15-10-1993
Fiscal year end30-09
Activities, NACEBEL 2025
01410Raising of dairy cattle
E-invoicing
Reachable via Peppol
Peppol ID
0208:0451083850
Also
9925:BE0451083850
Registered
18-06-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.