VANDEWAETER
ActiveSummary
VANDEWAETER has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €268,437 and a net result of €37,008. Equity is growing by ~14.7% per year across the filed fiscal years. Its solvency ranks better than 79% of 36380 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability81▲+9
Solvency98▲+3
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €21,000 at 30 days acceptable
Liquidity ample (current ratio 2.72 against 1.96 in 2023; short-term debt: 18.5% and cash: 25.5% of total assets), and 27.2% 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+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
Specialised construction activities (NACE 43)
about 85% more 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
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 23-06-2025, 38 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
38 d early
2023
44 d early
2022
42 d early
2021
41 d early
2020
40 d early
2019
39 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 41 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€268,437▲ 16.0%
2023 · €231,428
Total assets
€368,633▲ 10.7%
2023 · €332,932
Net result
€37,008▲ 378%
2023 · €7,738
Working capital
€117,093▲ 56.4%
2023 · €74,889
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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
Line20202021202220232024
Operating result€57,398▲ 189%€26,968▼ 53.0%€35,533▲ 31.8%€12,208▼ 65.6%€54,114▲ 343%
Net result€47,397above the sector's middle half▲ 239%€20,346within the sector's middle half▼ 57.1%€27,113within the sector's middle half▲ 33.3%€7,738within the sector's middle half▼ 71.5%€37,008above the sector's middle half▲ 378%
Equity€177,831above the sector's middle half▲ 36.3%€198,178above the sector's middle half▲ 11.4%€225,291above the sector's middle half▲ 13.7%€231,428above the sector's middle half▲ 2.7%€268,437above the sector's middle half▲ 16.0%
Total assets€306,954above the sector's middle half▲ 19.3%€335,635above the sector's middle half▲ 9.3%€339,921above the sector's middle half▲ 1.3%€332,932above the sector's middle half▼ 2.1%€368,633above the sector's middle half▲ 10.7%
Debt€129,123▲ 1.7%€137,457▲ 6.5%€114,630▼ 16.6%€101,503▼ 11.5%€100,196▼ 1.3%
Working capital€56,084▲ 102%€54,422▼ 3.0%€60,536▲ 11.2%€74,889▲ 23.7%€117,093▲ 56.4%
Solvency57.9%within the sector's middle half▲ 7.3pp59.0%within the sector's middle half▲ 1.1pp66.3%above the sector's middle half▲ 7.2pp69.5%above the sector's middle half▲ 3.2pp72.8%above the sector's middle half▲ 3.3pp
Staff (FTE)1within the sector's middle half=1=1=1=0.3▼ 70.0%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction 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 recovers in 2024; 2024 is 343% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €368,633
Fixed assets
€183,429 ▲ 1.8%
Current assets
€185,203 ▲ 21.3%
Equity and liabilities €368,633
Equity
€268,437 ▲ 16.0%
Debt
€100,196 ▼ 1.3%
Debt's share of the balance-sheet total falls from 30.5% to 27.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€94,738▲
2023 · €52,897
Cash flow
€77,633▲
2023 · €48,427
Current ratio
2.72▲
2023 · 1.96
Quick ratio
2.39▲
2023 · 1.48
Debt to equity
0.37▼
2023 · 0.44
ROE
13.8%▲
2023 · 3.3%
ROA
10.0%▲
2023 · 2.3%
Interest coverage
23.27▼
2023 · 36.91
Debt ≤ 1 year
€68,110▼
2023 · €77,772
Debt > 1 year
€30,137▲
2023 · €23,732
Income taxes
€15,032▲
2023 · €3,618
Staff costs
€26,183▼
2023 · €57,376
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.9% 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 34,672 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €21,488 | - | €15,283 | - |
| Remuneration, social security and pensions62 | - | €42,929 | €48,397 | €57,376 | €26,183 | ▼ 54.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30,654 | €29,260 | €34,606 | €40,689 | €40,624 | ▼ 0.2% |
| Other operating charges640/8 | - | €3,043 | €2,776 | €1,305 | €3,439 | ▲ 164% |
| Gross operating margin9900 | €127,753 | €102,200 | €121,312 | €111,577 | €124,360 | ▲ 11.5% |
| Operating profit (loss)9901 | €57,398 | €26,968 | €35,533 | €12,208 | €54,114 | ▲ 343% |
| Financial income75/76B | - | €3,345 | €2,427 | €581 | €1,997 | ▲ 244% |
| Recurring financial income75 | €2,895 | €3,345 | €2,427 | €581 | €1,997 | ▲ 244% |
| Financial charges65/66B | - | €3,083 | €3,200 | €1,433 | €4,070 | ▲ 184% |
| Recurring financial charges65 | €3,351 | €3,083 | €2,761 | €1,433 | €4,070 | ▲ 184% |
| Non-recurring financial charges66B | - | - | €440 | - | - | - |
| Profit (loss) for the period before taxes9903 | €56,942 | €27,231 | €34,760 | €11,356 | €52,040 | ▲ 358% |
| Income taxes67/77 | €9,545 | €6,884 | €7,647 | €3,618 | €15,032 | ▲ 315% |
| Profit (loss) for the period9904 | €47,397 | €20,346 | €27,113 | €7,738 | €37,008 | ▲ 378% |
| Profit (loss) for the period to be appropriated9905 | €47,397 | €20,346 | €27,113 | €7,738 | €37,008 | ▲ 378% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €306,954 | €335,635 | €339,921 | €332,932 | €368,633 | ▲ 10.7% |
| Fixed assets21/28 | €154,309 | €162,701 | €180,911 | €180,271 | €183,429 | ▲ 1.8% |
| Intangible fixed assets21 | €3,300 | €2,800 | €2,400 | €2,000 | - | - |
| Tangible fixed assets22/27 | €151,009 | €159,901 | €178,511 | €178,271 | €183,429 | ▲ 2.9% |
| Land and buildings22 | - | €84,055 | €76,749 | €75,036 | €67,027 | ▼ 10.7% |
| Plant, machinery and equipment23 | - | €17,019 | €12,964 | €35,195 | €20,999 | ▼ 40.3% |
| Furniture and vehicles24 | - | €43,937 | €76,111 | €55,927 | €85,851 | ▲ 53.5% |
| Other tangible fixed assets26 | - | €14,890 | €12,688 | €12,113 | €9,553 | ▼ 21.1% |
| Current assets29/58 | €152,645 | €172,934 | €159,009 | €152,660 | €185,203 | ▲ 21.3% |
| Stocks and contracts in progress3 | €30,638 | €26,504 | €24,828 | €37,575 | €22,488 | ▼ 40.2% |
| Stocks30/36 | - | €26,504 | €24,828 | €37,575 | €22,488 | ▼ 40.2% |
| Amounts receivable within one year40/41 | €23,857 | €40,996 | €36,578 | €28,613 | €66,418 | ▲ 132% |
| Trade receivables40 | - | €33,138 | €32,364 | €20,643 | €47,086 | ▲ 128% |
| Other amounts receivable41 | - | €7,858 | €4,214 | €7,970 | €19,331 | ▲ 143% |
| Cash at bank and in hand54/58 | €92,575 | €100,282 | €95,002 | €81,058 | €93,961 | ▲ 15.9% |
| Deferred charges and accrued income490/1 | - | €5,152 | €2,601 | €5,415 | €2,337 | ▼ 56.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €306,954 | €335,635 | €339,921 | €332,932 | €368,633 | ▲ 10.7% |
| Equity10/15 | €177,831 | €198,178 | €225,291 | €231,428 | €268,437 | ▲ 16.0% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Outside capital11 | - | €6,200 | €6,200 | - | - | - |
| Other1109/19 | - | €6,200 | €6,200 | - | - | - |
| Reserves13 | €168,860 | €189,206 | €216,319 | €225,228 | €262,237 | ▲ 16.4% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | €187,346 | €214,459 | €225,228 | €262,237 | ▲ 16.4% |
| Profit (loss) carried forward14 | €2,771 | €2,771 | €2,771 | - | - | - |
| Amounts payable17/49 | €129,123 | €137,457 | €114,630 | €101,503 | €100,196 | ▼ 1.3% |
| Amounts payable after more than one year17 | €31,550 | €17,916 | €15,150 | €23,732 | €30,137 | ▲ 27.0% |
| Financial debts170/4 | - | €17,916 | €15,150 | €23,732 | €30,137 | ▲ 27.0% |
| Amounts payable within one year42/48 | €96,561 | €118,512 | €98,473 | €77,772 | €68,110 | ▼ 12.4% |
| Current portion of amounts payable after more than one year42 | - | €13,634 | €13,612 | €9,590 | €13,288 | ▲ 38.6% |
| Financial debts43 | - | €2,608 | €3,026 | - | - | - |
| Credit institutions430/8 | - | €2,608 | €3,026 | - | - | - |
| Trade debts44 | €26,053 | €42,346 | €24,923 | €16,367 | €6,407 | ▼ 60.9% |
| Suppliers440/4 | - | €42,346 | €24,923 | €16,367 | €6,407 | ▼ 60.9% |
| Taxes, remuneration and social security45 | - | €23,601 | €22,509 | €15,707 | €13,419 | ▼ 14.6% |
| Taxes450/3 | - | €8,060 | €6,124 | €3,461 | €11,441 | ▲ 231% |
| Remuneration and social security454/9 | - | €15,541 | €16,384 | €12,246 | €1,978 | ▼ 83.8% |
| Other amounts payable47/48 | - | €36,324 | €34,404 | €36,108 | €34,996 | ▼ 3.1% |
| Accrued charges and deferred income492/3 | - | €1,029 | €1,007 | - | €1,949 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €47,397 | €20,346 | €27,113 | €7,738 | €37,008 | ▲ 378% |
| + Depreciation and write-downs630 | €30,654 | €29,260 | €34,606 | €40,689 | €40,624 | ▼ 0.2% |
| Operating cash flow (approximation) | €78,051 | €49,606 | €61,719 | €48,427 | €77,633 | ▲ 60.3% |
| Investment in fixed assets (approximation) | - | -€37,651 | -€52,817 | -€40,049 | -€43,782 | ▼ 9.3% |
| Change in cash | - | €7,707 | -€5,280 | -€13,945 | €12,903 | ▲ 193% |
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
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
17-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €7,738 ▼71.5%
Net result drops to €7,738, the lowest in the series; recovery starts the following year.
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €200,000Eq €225,291 ▲13.7%
5 profitable years in a row build equity to €225,291.
20-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €47,397 ▲239%
Operating result €57,398, net result €47,397, both a record.
31-12
Financial
Equity above €150,000Eq €177,831 ▲36.3%
3 profitable years in a row build equity to €177,831.
22-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
17-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
05-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
29-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
20-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Ledegem · 1 establishment unit since 2012
Ground area
1,546 m²
Building footprint
175 m²
Volume, LiDAR
998 m³
Parcel 36018B0874/00R002, Flanders · tallest building 8.7 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
VANDEWAETER
since 20122.206.047.739
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36018B0874/00R002 | Flanders | 1,546 m² | 1 · 175 m² | 8.7 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 689 EUR awarded · 946 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 126 EUR | 126 EUR |
| 2024 | 1 | 285 EUR | 285 EUR |
| 2023 | 1 | 0 EUR | 257 EUR |
| 2022 | 1 | 278 EUR | 278 EUR |
Similar companies · same sector, comparable size
CALLENS KOELTECHNIEK
BE 0740.813.744
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VAN DE PERRE A.
BE 0449.461.574
Retie · Eq €268,725
DEMORY Eric
BE 0886.792.410
Lobbes · Eq €268,120
CHARLES GOUSSEAU SANITAIR EN VERWARMING
BE 0747.854.459
Denderleeuw · Eq €268,080
INSTALLATIEBEDRIJF LOOFFEN
BE 0454.453.413
Gistel · Eq €268,066
Of 9,536 companies in sector 43222 we hold annual accounts for 5,667. 4,625 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
Founded18-01-2012
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
47242Retail sale of chocolate and confectionery
74111Design of textile patterns, clothing, jewellery, furniture and decorative items
E-invoicing
Reachable via Peppol
Peppol ID
0208:0842864870
Also
9925:BE0842864870
Registered
05-08-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.