VANDES
ActiveSummary
VANDES has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €341,375 and a net result of €37,890. Equity is growing by ~12.9% per year across the filed fiscal years. Its solvency ranks better than 38% of 7201 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▲+2
Solvency64▲+5
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €23,000 at 30 days acceptable
Liquidity short (current ratio 0.32 against 0.31 in 2024; short-term debt: 27.8% and cash: 5.6% of total assets), and 60.5% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers 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
39.5%
Return on assets
4.4%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 23-01-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
4 d early
2023
15 d early
2022
5 d early
2021
17 d early
2020
1 d late
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 7 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 23 January (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close01-10-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€341,375▲ 12.5%
2024 · €303,485
Total assets
€865,272▼ 3.6%
2024 · €897,926
Net result
€37,890▲ 86.2%
2024 · €20,348
Working capital
-€163,153▲ 23.8%
2024 · -€214,196
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€0.07m▲ 1,025%€0.03m▼ 51.8%€0.1m▲ 215%€0.05m▼ 49.5%€0.08m▲ 54.2%
Net result€0.04mwithin the sector's middle half€0.01mwithin the sector's middle half▼ 74.4%€0.06mabove the sector's middle half▲ 492%€0.02mwithin the sector's middle half▼ 64.4%€0.04mwithin the sector's middle half▲ 86.2%
Equity€0.2mwithin the sector's middle half▲ 21.1%€0.2mabove the sector's middle half▲ 4.5%€0.3mabove the sector's middle half▲ 25.3%€0.3mabove the sector's middle half▲ 7.2%€0.3mabove the sector's middle half▲ 12.5%
Total assets€1.1mwithin the sector's middle half▲ 10.9%€1.0mabove the sector's middle half▼ 4.9%€1.0mabove the sector's middle half▼ 4.4%€0.9mabove the sector's middle half▼ 6.1%€0.9mabove the sector's middle half▼ 3.6%
Debt€0.8m▲ 8.6%€0.8m▼ 7.3%€0.7m▼ 13.1%€0.6m▼ 11.6%€0.5m▼ 11.9%
Working capital-€0.3mbelow the sector's middle half▼ 33.0%-€0.3mbelow the sector's middle half▲ 4.1%-€0.2mbelow the sector's middle half▲ 22.5%-€0.2mbelow the sector's middle half▲ 0.1%-€0.2mbelow the sector's middle half▲ 23.8%
Solvency20.6%within the sector's middle half▲ 1.7pp22.6%within the sector's middle half▲ 2.0pp29.6%within the sector's middle half▲ 7.0pp33.8%within the sector's middle half▲ 4.2pp39.5%within the sector's middle half▲ 5.7pp
Current ratio0.27below the sector's middle half▼ 0.070.21below the sector's middle half▼ 0.060.33below the sector's middle half▲ 0.110.31below the sector's middle half▼ 0.020.32below the sector's middle half▲ 0.02
Return on assets (ROA)3.6%within the sector's middle half▲ 4.0pp1.0%within the sector's middle half▼ 2.6pp6.0%within the sector's middle half▲ 5.0pp2.3%within the sector's middle half▼ 3.7pp4.4%within the sector's middle half▲ 2.1pp
above
within
below
the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 54% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €865,272
Fixed assets
€787,761 ▼ 2.0%
Current assets
€77,511 ▼ 17.6%
Equity and liabilities €865,272
Equity
€341,375 ▲ 12.5%
Debt
€523,897 ▼ 11.9%
Debt's share of the balance-sheet total falls from 66.2% to 60.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€136,363▲
2024 · €107,794
Cash flow
€95,934▲
2024 · €77,336
Debt to equity
1.53▼
2024 · 1.96
ROE
11.1%▲
2024 · 6.7%
Interest coverage
9.37▲
2024 · 7.43
Debt ≤ 1 year
€240,664▼
2024 · €308,229
Debt > 1 year
€282,299▼
2024 · €284,908
Income taxes
€23,736▲
2024 · €15,945
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,048 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.4%
went bankrupt
3.6%
stopped otherwise
96%
still going
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,341 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 6,048 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 | - | €12,000 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €51,685 | €53,609 | €55,160 | €56,988 | €58,044 | ▲ 1.9% |
| Other operating charges640/8 | - | €9,068 | €4,150 | €4,919 | €4,943 | ▲ 0.5% |
| Non-recurring operating charges66A | - | - | - | €323 | €0 | ▼ 100% |
| Gross operating margin9900 | €126,713 | €94,575 | €159,914 | €113,036 | €141,307 | ▲ 25.0% |
| Operating profit (loss)9901 | €66,204 | €31,898 | €100,605 | €50,806 | €78,319 | ▲ 54.2% |
| Financial income75/76B | - | €431 | €1,434 | €0 | €282 | - |
| Recurring financial income75 | €0 | €431 | €1,434 | €0 | €282 | - |
| Financial charges65/66B | - | €12,425 | €11,680 | €14,513 | €16,975 | ▲ 17.0% |
| Recurring financial charges65 | €9,177 | €12,425 | €11,680 | €14,513 | €14,553 | ▲ 0.3% |
| Non-recurring financial charges66B | - | - | - | - | €2,422 | - |
| Profit (loss) for the period before taxes9903 | €62,812 | €19,904 | €90,359 | €36,293 | €61,627 | ▲ 69.8% |
| Income taxes67/77 | €25,045 | €10,250 | €33,234 | €15,945 | €23,736 | ▲ 48.9% |
| Profit (loss) for the period9904 | €37,767 | €9,655 | €57,125 | €20,348 | €37,890 | ▲ 86.2% |
| Transfer from tax-exempt reserves789 | - | €379 | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €37,767 | €10,033 | €57,125 | €20,348 | €37,890 | ▲ 86.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.1m | €1.0m | €1.0m | €0.9m | €0.9m | ▼ 3.6% |
| Fixed assets21/28 | €0.9m | €0.9m | €0.9m | €0.8m | €0.8m | ▼ 2.0% |
| Tangible fixed assets22/27 | €0.7m | €0.7m | €0.6m | €0.6m | €0.5m | ▼ 2.9% |
| Land and buildings22 | - | €0.6m | €0.6m | €0.5m | €0.5m | ▼ 0.4% |
| Plant, machinery and equipment23 | - | €0.005m | €0.007m | €0.005m | €0.008m | ▲ 63.1% |
| Furniture and vehicles24 | - | €0.05m | €0.04m | €0.02m | €0.006m | ▼ 75.4% |
| Financial fixed assets28 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Current assets29/58 | €0.1m | €0.07m | €0.1m | €0.09m | €0.08m | ▼ 17.6% |
| Amounts receivable within one year40/41 | €0.1m | €0.04m | €0.09m | €0.03m | €0.02m | ▼ 25.5% |
| Trade receivables40 | - | €0.02m | €0.09m | €0.02m | €0.02m | ▲ 3.5% |
| Other amounts receivable41 | - | €0.02m | €0 | €0.009m | €0 | ▼ 100% |
| Current investments50/53 | €30 | - | - | €0.04m | €0.002m | ▼ 94.9% |
| Cash at bank and in hand54/58 | €0.006m | €0.04m | €0.01m | €0.02m | €0.05m | ▲ 113% |
| Deferred charges and accrued income490/1 | - | €0.002m | €0.003m | €0.001m | €0.003m | ▲ 217% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.1m | €1.0m | €1.0m | €0.9m | €0.9m | ▼ 3.6% |
| Equity10/15 | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | ▲ 12.5% |
| Contributions10/11 | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | ▲ 13.3% |
| Non-distributable reserves130/1 | - | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | €0 | - | - | - | - |
| Tax-exempt reserves132 | - | €0 | - | - | - | - |
| Distributable reserves133 | - | €0.2m | €0.3m | €0.3m | €0.3m | ▲ 13.3% |
| Amounts payable17/49 | €0.8m | €0.8m | €0.7m | €0.6m | €0.5m | ▼ 11.9% |
| Amounts payable after more than one year17 | €0.4m | €0.4m | €0.4m | €0.3m | €0.3m | ▼ 0.9% |
| Financial debts170/4 | - | €0.4m | €0.4m | €0.3m | €0.3m | ▼ 0.9% |
| Amounts payable within one year42/48 | €0.4m | €0.4m | €0.3m | €0.3m | €0.2m | ▼ 21.9% |
| Current portion of amounts payable after more than one year42 | - | €0.06m | €0.06m | €0.07m | €0.05m | ▼ 22.8% |
| Financial debts43 | - | €0.03m | €0 | €0.02m | €0.007m | ▼ 67.0% |
| Credit institutions430/8 | - | €0.03m | €0 | €0.02m | €0.007m | ▼ 67.0% |
| Trade debts44 | €0.05m | €0.007m | €0.007m | €0.007m | €0.002m | ▼ 74.3% |
| Suppliers440/4 | - | €0.007m | €0.007m | €0.007m | €0.002m | ▼ 74.3% |
| Taxes, remuneration and social security45 | - | €0.009m | €0.03m | €0.01m | €0.01m | ▲ 9.9% |
| Taxes450/3 | - | €0.009m | €0.03m | €0.01m | €0.01m | ▲ 9.9% |
| Other amounts payable47/48 | - | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 16.8% |
| Accrued charges and deferred income492/3 | - | €0.001m | €0.001m | €0.001m | €0.001m | ▼ 28.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €37,767 | €9,655 | €57,125 | €20,348 | €37,890 | ▲ 86.2% |
| + Depreciation and write-downs630 | €51,685 | €53,609 | €55,160 | €56,988 | €58,044 | ▲ 1.9% |
| Operating cash flow (approximation) | €89,452 | €63,264 | €112,285 | €77,336 | €95,934 | ▲ 24.0% |
| Investment in fixed assets (approximation) | - | -€34,141 | €18,027 | -€8,555 | -€41,913 | ▼ 390% |
| Change in cash | - | €31,109 | -€23,320 | €8,759 | €25,582 | ▲ 192% |
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
23-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
27-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
16-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Highest result since 2019net €57,125 ▲492%
Operating result €100,605, net result €57,125, both a record.
26-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
14-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-06
Financial
Back to profitnet €37,767
Net result €37,767 after one loss-making year.
30-06
Financial
Equity above €200,000Eq €216,358 ▲21.1%
Equity rises from €178,591 to €216,358.
01-02
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 1 day late
2020
30-06
Financial
Weakest financial yearnet -€3,796
Net result drops to -€3,796, the lowest in the series; recovery starts the following year.
30-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
13-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 102 days late
2018
30-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
24-01
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
No directors read yet: 0 of 3 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Sint-Martens-Latem · 1 establishment unit since 2011
Ground area
1,985 m²
Building footprint
242 m²
Volume, LiDAR
753 m³
Parcel 44064B0711/00D000, Flanders · tallest building 11.0 m, ±1 floor. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Vandes
since 2011unit no. 2.200.630.288
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44064B0711/00D000 | Flanders | 1,985 m² | 1 · 242 m² | 11.0 m · 1 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 holdingOwners 0
No owner stated in the accounts, acts or LEI register we read.
Holdings 1
-
1.09%
According to the annual accounts 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 directors read yet: 0 of 3 Gazette acts processed.
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Of 13,405 companies in this sector we hold annual accounts for 6,906. 4,674 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded27-05-2011
Fiscal year end30-06
Activities, NACEBEL 2025
73300Public relations and communication consultancy
Contact
E-mail
vandesbv@gmail.comSint-Martens-Latem
Phone
0485403281Sint-Martens-Latem
E-invoicing
Reachable via Peppol
Peppol ID
0208:0836681517
Also
9925:BE0836681517
Registered
11-09-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.