VANDERGUNST
ActiveSummary
VANDERGUNST has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €38k and a net result of €4k. Equity is growing by ~4.5% per year across the filed fiscal years. Its solvency ranks better than 69% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability77▲+40
Solvency80▲+6
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3k at 30 days acceptable
Liquidity ample (current ratio 1.66 against 1.38 in 2024; short-term debt: 32% and cash: 51.9% of total assets), and 44.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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
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
55.4%
Return on assets
6.5%
Age of the figures
12 mo
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 08-01-2026, 112 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
112 d early
2024
139 d early
2023
133 d early
2022
87 d early
2021
67 d early
2020
2 d early
2019
122 d early
← before the deadline
after the deadline →
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
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€38k▲ 13.2%
2024 · €33k
2018: €28k
2019: €29k▲ +6.4% vs 2018
2020: €24k▼ -18.6% vs 2019lowest in 8 years
2021: €45k▲ +89.8% vs 2020highest in 8 years
2022: €42k▼ -6.2% vs 2021
2023: €42k▼ -0.1% vs 2022
2024: €33k▼ -21.1% vs 2023
2025: €38k▲ +13.2% vs 2024
2018 → 2025
Total assets
€69k▲ 1.2%
2024 · €68k
2018: €54k
2019: €49k▼ -9.7% vs 2018
2020: €34k▼ -30.3% vs 2019lowest in 8 years
2021: €58k▲ +70.1% vs 2020
2022: €50k▼ -13.6% vs 2021
2023: €85k▲ +68.7% vs 2022highest in 8 years
2024: €68k▼ -20.2% vs 2023
2025: €69k▲ +1.2% vs 2024
2018 → 2025
Net result
€4k
2024 · €-9k
2018: €5k
2019: €2k▼ -66.4% vs 2018
2020: €-5k▼ -408% vs 2019
2021: €21k▲ +493% vs 2020highest in 8 years
2022: €-3k▼ -113% vs 2021
2023: €-46▲ +98.4% vs 2022
2024: €-9k▼ -19337% vs 2023lowest in 8 years
2025: €4k▲ +150% vs 2024
2018 → 2025
Working capital
€15k▲ 131%
2024 · €6k
2018: €3klowest in 8 years
2019: €11k▲ +217% vs 2018
2020: €14k▲ +29.0% vs 2019
2021: €25k▲ +76.5% vs 2020
2022: €27k▲ +8.6% vs 2021highest in 8 years
2023: €12k▼ -56.7% vs 2022
2024: €6k▼ -45.9% vs 2023
2025: €15k▲ +131% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€45k-€42k▼ 6.2%€42k▼ 0.1%€33k▼ 21.1%€38k▲ 13.2%
2021: €45khighest in 5 years
2022: €42k▼ -6.2% vs 2021
2023: €42k▼ -0.1% vs 2022
2024: €33k▼ -21.1% vs 2023lowest in 5 years
2025: €38k▲ +13.2% vs 2024
Operating result€26k-€-2k€2k€-7k€9k
2021: €26khighest in 5 years
2022: €-2k▼ -108% vs 2021
2023: €2k▲ +194% vs 2022
2024: €-7k▼ -468% vs 2023lowest in 5 years
2025: €9k▲ +229% vs 2024
Net result€21k-€-3k€-46▲ 98.4%€-9k▼ 19,337%€4k
2021: €21khighest in 5 years
2022: €-3k▼ -113% vs 2021
2023: €-46▲ +98.4% vs 2022
2024: €-9k▼ -19337% vs 2023lowest in 5 years
2025: €4k▲ +150% vs 2024
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €9k after a loss of €7k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €69k
Fixed assets
€32k ▼ 28.6%
Current assets
€37k ▲ 59.7%
Equity and liabilities €69k
Equity
€38k ▲ 13.2%
Debt
€31k ▼ 10.5%
Debt's share of the balance-sheet total falls from 50.5% to 44.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€23k▲
2024 · €8k
Cash flow
€18k▲
2024 · €6k
Current ratio
1.66▲
2024 · 1.38
Debt to equity
0.81▼
2024 · 1.02
ROE
11.7%▲
2024 · -26.7%
ROA
6.5%▲
2024 · -13.2%
Interest coverage
15.64▲
2024 · 4.12
Debt ≤ 1 year
€22k▲
2024 · €17k
Debt > 1 year
€9k▼
2024 · €18k
Income taxes
€3k▲
2024 · €197
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 40 lines
Balance sheet
Code20242025
Assets
Total assets20/58€68k€69k▲
Fixed assets21/28€45k€32k▼
Tangible fixed assets22/27€45k€32k▼
Plant, machinery and equipment23€8k€5k▼
Furniture and vehicles24€37k€27k▼
Current assets29/58€23k€37k▲
Cash at bank and in hand54/58€22k€36k▲
Deferred charges and accrued income490/1€750€922▲
Equity and liabilities
Total equity and liabilities10/49€68k€69k▲
Equity10/15€33k€38k▲
Contributions10/11€19k€19k=
Reserves13€9k€13k▲
Distributable reserves133€9k€13k▲
Profit (loss) carried forward14€6k€6k▲
Amounts payable17/49€34k€31k▼
Amounts payable after more than one year17€18k€9k▼
Financial debts170/4€18k€9k▼
Amounts payable within one year42/48€17k€22k▲
Current portion of amounts payable after more than one year42€9k€9k▲
Trade debts44€2k€3k▲
Suppliers440/4€2k€3k▲
Taxes, remuneration and social security45€6k€10k▲
Taxes450/3€2k€6k▲
Remuneration and social security454/9€4k€4k▲
Accrued charges and deferred income492/3€2-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€14k▼
Other operating charges640/8€2k€859▼
Gross operating margin9900€10k€24k▲
Operating profit (loss)9901€-7k€9k▲
Financial charges65/66B€2k€1k▼
Recurring financial charges65€2k€1k▼
Profit (loss) for the period before taxes9903€-9k€7k▲
Income taxes67/77€197€3k▲
Profit (loss) for the period9904€-9k€4k▲
Profit (loss) for the period to be appropriated9905€-9k€4k▲
Appropriation of the result
Profit (loss) to be appropriated9906€6k€10k▲
Profit (loss) brought forward from the previous period14P€15k€6k▼
Transfer from equity791/2€2k-
Transfer to equity691/2€2k€4k▲
To other reserves6921€2k€4k▲
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €14k | - | - | - |
| Remuneration, social security and pensions62 | - | - | €1k | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5k | €6k | €7k | €14k | €14k | ▼ 4.6% |
| Other operating charges640/8 | - | €859 | €1k | €2k | €859 | ▼ 60.9% |
| Gross operating margin9900 | €32k | €5k | €11k | €10k | €24k | ▲ 141% |
| Operating profit (loss)9901 | €26k | €-2k | €2k | €-7k | €9k | ▲ 229% |
| Financial income75/76B | - | €1 | €2 | - | - | - |
| Recurring financial income75 | - | €1 | €2 | - | - | - |
| Financial charges65/66B | - | €358 | €898 | €2k | €1k | ▼ 21.2% |
| Recurring financial charges65 | €349 | €358 | €898 | €2k | €1k | ▼ 21.2% |
| Profit (loss) for the period before taxes9903 | €26k | €-2k | €978 | €-9k | €7k | ▲ 185% |
| Income taxes67/77 | €5k | €462 | €1k | €197 | €3k | ▲ 1,439% |
| Profit (loss) for the period9904 | €21k | €-3k | €-46 | €-9k | €4k | ▲ 150% |
| Profit (loss) for the period to be appropriated9905 | €21k | €-3k | €-46 | €-9k | €4k | ▲ 150% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €58k | €50k | €85k | €68k | €69k | ▲ 1.2% |
| Fixed assets21/28 | €20k | €16k | €57k | €45k | €32k | ▼ 28.6% |
| Tangible fixed assets22/27 | €20k | €16k | €57k | €45k | €32k | ▼ 28.6% |
| Plant, machinery and equipment23 | - | €16k | €10k | €8k | €5k | ▼ 40.9% |
| Furniture and vehicles24 | - | - | €47k | €37k | €27k | ▼ 26.0% |
| Current assets29/58 | €38k | €35k | €28k | €23k | €37k | ▲ 59.7% |
| Amounts receivable within one year40/41 | - | €7k | €7k | - | - | - |
| Trade receivables40 | - | €7k | €7k | - | - | - |
| Cash at bank and in hand54/58 | €36k | €26k | €19k | €22k | €36k | ▲ 61.0% |
| Deferred charges and accrued income490/1 | - | €1k | €1k | €750 | €922 | ▲ 22.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €58k | €50k | €85k | €68k | €69k | ▲ 1.2% |
| Equity10/15 | €45k | €42k | €42k | €33k | €38k | ▲ 13.2% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €9k | €9k | €9k | €9k | €13k | ▲ 49.7% |
| Non-distributable reserves130/1 | - | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | - | - | - |
| Distributable reserves133 | - | €7k | €7k | €9k | €13k | ▲ 49.7% |
| Profit (loss) carried forward14 | €18k | €15k | €15k | €6k | €6k | ▲ 0.5% |
| Amounts payable17/49 | €13k | €8k | €42k | €34k | €31k | ▼ 10.5% |
| Amounts payable after more than one year17 | - | - | €26k | €18k | €9k | ▼ 51.0% |
| Financial debts170/4 | - | - | €26k | €18k | €9k | ▼ 51.0% |
| Amounts payable within one year42/48 | €13k | €8k | €16k | €17k | €22k | ▲ 32.6% |
| Current portion of amounts payable after more than one year42 | - | - | €8k | €9k | €9k | ▲ 5.0% |
| Trade debts44 | €3k | €745 | €2k | €2k | €3k | ▲ 55.8% |
| Suppliers440/4 | - | €745 | €2k | €2k | €3k | ▲ 55.8% |
| Taxes, remuneration and social security45 | - | €7k | €6k | €6k | €10k | ▲ 64.2% |
| Taxes450/3 | - | €3k | €2k | €2k | €6k | ▲ 160% |
| Remuneration and social security454/9 | - | €4k | €4k | €4k | €4k | ▲ 0.1% |
| Accrued charges and deferred income492/3 | - | - | - | €2 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21k | €-3k | €-46 | €-9k | €4k | ▲ 150% |
| + Depreciation and write-downs630 | €5k | €6k | €7k | €14k | €14k | ▼ 4.6% |
| Operating cash flow (approximation) | €26k | €3k | €7k | €6k | €18k | ▲ 229% |
| Investment in fixed assets (approximation) | - | €-848 | €-48k | €-2k | €-1k | ▲ 56.9% |
| Change in cash | - | €-10k | €-7k | €3k | €13k | ▲ 363% |
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
08-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-09
Financial
Back to profitnet €4k
Net result €4k after 3 loss-making years.
2024
12-12
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
30-09
Financial
Weakest financial yearnet €-9k
Net result drops to €-9k, the lowest in the series; recovery starts the following year.
2023
19-12
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
02-02
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
22-02
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Back to profitnet €21k
Net result €21k after one loss-making year.
28-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
30-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
30-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
19-12
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
21-12
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 3 acts read
About the unread acts
We know of 3 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
3 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, Blankenberge · 1 establishment unit since 2003
Ground area
122 m²
Building footprint
122 m²
Volume, LiDAR
1,858 m³
Parcel 31004A0794/00D016, Flanders · tallest building 19.1 m, ±5 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
VANDERGUNST
since 20032.126.560.890
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31004A0794/00D016 | Flanders | 121 m² | 1 · 121 m² | 19.1 m · 5 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.
Similar companies · same sector, comparable size
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DEWAPRO
BE 0729.844.232
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LEGIMMO
BE 0885.708.285
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LAMBIMO
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Of 9,693 companies in sector 68121 we hold annual accounts for 7,385. 4,760 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded28-02-2003
Fiscal year end30-09
Activities, NACEBEL 2025
68121Development of residential building projects
Scores and ratios are computed by Checked and are not a credit decision.