Vandenbussche
ActiveVandenbussche has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €12.32M and a net result of €2.35M. Equity is growing by ~6.4% per year across the filed fiscal years. Its solvency ranks better than 37% of 3549 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
63
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability64▼-2
Solvency56▼-3
Growth50▼-23
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €750k at 30 days acceptable
Liquidity tight (current ratio 1.19 against 1.27 in 2023; short-term debt: 67.5% and cash: 16.7% of total assets), and 68.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
31.5%
Return on assets
6%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-06-2025, 35 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
35 d early
2023
36 d early
2022
40 d early
2021
41 d early
2020
57 d early
2019
42 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, full schema
Turnover
€97.93M▼ 17.3%
2023 · €118.44M
2019: €83.59M
2020: €83.06M
2021: €85.34M
2022: €102.03M
2023: €118.44M
2019 → 2024
EBIT margin
3.2%▼ 0.5pp
2023 · 3.7%
2019: 4.3%
2020: 1.3%
2021: 5.8%
2022: 6.1%
2023: 3.7%
2019 → 2024
Net result
€2.35M▼ 33.0%
2023 · €3.50M
2019: €2.51M
2020: €749k
2021: €3.69M
2022: €4.62M
2023: €3.50M
2019 → 2024
Working capital
€4.89M▼ 37.1%
2023 · €7.77M
2019: €8.49M
2020: €7.08M
2021: €6.83M
2022: €6.84M
2023: €7.77M
2019 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€83.06M-€85.34M▲ 2.7%€102.03M▲ 19.6%€118.44M▲ 16.1%€97.93M▼ 17.3%
Equity€11.67M-€12.76M▲ 9.3%€14.17M▲ 11.1%€14.98M▲ 5.6%€12.32M▼ 17.7%
Operating result€1.05M-€4.95M▲ 371%€6.24M▲ 26.1%€4.44M▼ 28.9%€3.13M▼ 29.4%
Net result€749k-€3.69M▲ 392%€4.62M▲ 25.1%€3.50M▼ 24.2%€2.35M▼ 33.0%
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 29% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €39.14M
Fixed assets
€7.84M▲ 2.9%
Current assets
€31.30M▼ 15.4%
Equity and liabilities €39.14M
Equity
€12.32M▼ 17.7%
Debt
€26.82M▼ 9.5%
The debt ratio rises from 66.4% to 68.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€4.71M▼
2023 · €5.99M
Cash flow
€3.93M▼
2023 · €5.05M
Solvency
31.5%▼
2023 · 33.6%
Current ratio
1.19▼
2023 · 1.27
Quick ratio
1.15▼
2023 · 1.23
Debt / equity
2.18▲
2023 · 1.98
ROE
19.0%▼
2023 · 23.4%
ROA
6.0%▼
2023 · 7.8%
Interest coverage
133.06▲
2023 · 117.67
Debt
€26.82M▼
2023 · €29.64M
Debt ≤ 1 year
€26.41M▼
2023 · €29.23M
Income taxes
€711k▼
2023 · €1.10M
Staff costs
€12.29M▼
2023 · €12.38M
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€44.61M€39.14M▼
Fixed assets21/28€7.61M€7.84M▲
Intangible fixed assets21€119k€255k▲
Tangible fixed assets22/27€6.06M€5.51M▼
Plant, machinery and equipment23€4.00M€4.28M▲
Furniture and vehicles24€1.11M€1.04M▼
Other tangible fixed assets26€53k€194k▲
Assets under construction and advance payments27€900k-
Financial fixed assets28€1.44M€2.07M▲
Other financial fixed assets284/8€1.44M€2.07M▲
Shares284€119k€503k▲
Amounts receivable and cash guarantees285/8€1.32M€1.56M▲
Current assets29/58€37.00M€31.30M▼
Amounts receivable after more than one year29€349k-
Other amounts receivable291€349k-
Stocks and contracts in progress3€909k€981k▲
Stocks30/36€909k€981k▲
Raw materials and consumables30/31€909k€981k▲
Amounts receivable within one year40/41€31.34M€23.19M▼
Trade receivables40€31.28M€22.98M▼
Other amounts receivable41€60k€206k▲
Cash at bank and in hand54/58€3.96M€6.52M▲
Deferred charges and accrued income490/1€433k€614k▲
Equity and liabilities
Total equity and liabilities10/49€44.61M€39.14M▼
Equity10/15€14.98M€12.32M▼
Contributions10/11€576k€576k=
Capital10€560k€560k=
Issued capital100€560k€560k=
Outside capital11€16k€16k=
Share premium1100/10€16k€16k=
Reserves13€14.40M€11.74M▼
Non-distributable reserves130/1€56k€56k=
Legal reserve130€56k€56k=
Tax-exempt reserves132€75k€75k=
Distributable reserves133€14.27M€11.61M▼
Profit (loss) carried forward14-€653
Amounts payable17/49€29.64M€26.82M▼
Amounts payable within one year42/48€29.23M€26.41M▼
Financial debts43-€203k
Credit institutions430/8-€203k
Trade debts44€23.88M€19.16M▼
Suppliers440/4€23.88M€19.16M▼
Taxes, remuneration and social security45€2.65M€2.05M▼
Taxes450/3€586k€161k▼
Remuneration and social security454/9€2.06M€1.89M▼
Other amounts payable47/48€2.70M€5.00M▲
Accrued charges and deferred income492/3€405k€402k▼
Income statement
Code20232024
Operating income70/76A€120.73M€99.77M▼
Turnover70€118.44M€97.93M▼
Other operating income74€2.22M€1.69M▼
Non-recurring operating income76A€60k€163k▲
Operating charges60/66A€116.29M€96.64M▼
Goods for resale, raw materials and consumables60€82.38M€69.99M▼
Purchases600/8€82.49M€70.06M▼
Change in stocks: decrease (increase)609€-112k€-72k▲
Services and other goods61€19.89M€12.64M▼
Remuneration, social security and pensions62€12.38M€12.29M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.55M€1.58M▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€3k-
Other operating charges640/8€92k€87k▼
Non-recurring operating charges66A€232€49k▲
Operating profit (loss)9901€4.44M€3.13M▼
Financial income75/76B€402k€161k▼
Recurring financial income75€402k€161k▼
Income from financial fixed assets750€10k€27k▲
Income from current assets751€18k€43k▲
Other financial income752/9€375k€91k▼
Financial charges65/66B€240k€238k▼
Recurring financial charges65€240k€238k▼
Debt charges650€51k€35k▼
Other financial charges652/9€189k€202k▲
Profit (loss) for the period before taxes9903€4.60M€3.06M▼
Income taxes67/77€1.10M€711k▼
Taxes670/3€1.12M€722k▼
Tax adjustments and reversals of tax provisions77€22k€10k▼
Profit (loss) for the period9904€3.50M€2.35M▼
Profit (loss) for the period to be appropriated9905€3.50M€2.35M▼
Appropriation of the result
Profit (loss) to be appropriated9906€3.50M€2.35M▼
Transfer from equity791/2€2.20M€2.66M▲
From reserves792€2.20M€2.66M▲
Transfer to equity691/2€3.00M-
To other reserves6921€3.00M-
Profit to be distributed694/7€2.70M€5.00M▲
Return on contributions (dividend)694€2.20M€4.50M▲
Directors or managers695€500k€500k=
Social balance
Average headcount (FTE)9087167.8162.3▼
The notes to these accounts (60 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
26-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2019net €4.62M ▲25.1%
Operating result €6.24M, net result €4.62M, both a record.
20-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
04-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet €749k ▼70.1%
Net result drops to €749k, the lowest in the series; recovery starts the following year.
19-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
13-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
06-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
06-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
27-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
27 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, Aalter · 1 establishment unit since 1988
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.
Groendreef 219880 AalterGround area
1.7 ha
Building footprint
6,571 m²
Parcel 44503H0074/00H007, Flanders. Linked by address, not a title deed.
1 establishment unit
VANDENBUSSCHE NV
since 19882.035.662.388
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44503H0074/00H007 | Flanders | 1.7 ha | 1 · 6,571 m² | - |
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.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 7 entries · 23,729 EUR awarded · 23,729 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 2 | 1,682 EUR | 1,682 EUR |
| 2023 | 3 | 11,223 EUR | 11,223 EUR |
| 2022 | 2 | 10,824 EUR | 10,824 EUR |
Schemes
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Vlaams opleidingsverlof (VOV)
Werkbaarheidscheque (stopgezet)
Premie kwalificerend werkplekleren
Stagebonus (stopgezet)
Recognitions · licences · registrations
Recognised contractor
14 categoriesVandenbussche NV16236
Dual-learning approval
4 live approvals · 2 endedMedewerker ruwbouw (vwo)
Medewerker ruwbouw duaal (so)
Metselaar (vwo)
Ruwbouw duaal (so)
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Of 8,456 companies in sector 43120 we hold annual accounts for 3,233. 275 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded19-01-1988
Fiscal year end31-12
Activities, NACEBEL
41003General construction of other non-residential buildings
43120Site preparation
45211
41001General construction of residential buildings
41002Construction of residential and non-residential buildings
68121Development of residential building projects
43110Demolition
43910Bricklaying and masonry work
43994Specialised construction activities
45212
46839Wholesale trade
70111
70200Business and other management consultancy
70220Business consulting
74142
Sources
Crossroads Bank for EnterprisesNational Bank · 37 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.