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VANDHA

Active
Public limited companyfounded 198936 yrs activeDiepeweg(HA) 52, 9450 Haaltert, BelgiumKBO/BCE: BE 0439.611.423
Summary

VANDHA has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €321,357 and a net result of -€11,609. Equity is shrinking by ~6% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.1% (very low).

Risk analysisWatch ReportCompare
VANDHAActiveChecked score 93/100
Risk analysis ReportCompare

Overview

Activity
Activity not known1 site
Size
€391,646total assets 2025
Equity
€321,357
Loss
-€11,609
Turnover not published (abridged schema)
Financial health
93 Excellent Checked score 2025
Bankruptcy chance 12 m
0.1%
Structure
Board
3 members
Accounts 2 d early1 of 3 deeds read
Why 93+ Size: total assets €391,646+ Equity €321,357 (82.1% of total assets)+ Founded in 1989+ Figures for FY 2025 (filed 29-07-2026)Show the evidence

Checked score

Score 2025
93 / 100
Excellent
Probability in this band: under 0.55%
Better than 47% of its sector peers (no NACE code, micro)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Strong
Solvency 100=
equity 82.1% of total assets
Liquidity 56-11
short-term debt 10.9% · cash 4.9%
Profitability 30-11
return on assets -3.0%
Bankruptcy probability, 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 11-2024: < 0.1% 12-2024: < 0.1%● 0.0% vs 11-2024 01-2025: < 0.1%▼ -2.2% vs 12-2024 02-2025: < 0.1%▲ +2.3% vs 01-2025 03-2025: < 0.1%● 0.0% vs 02-2025 04-2025: < 0.1%● 0.0% vs 03-2025 05-2025: < 0.1%▲ +2.2% vs 04-2025 06-2025: < 0.1%▲ +8.7% vs 05-2025 07-2025: 0.1%▲ +62.0% vs 06-2025highest value 08-2025: < 0.1%▼ -45.7% vs 07-2025 09-2025: < 0.1%● 0.0% vs 08-2025 10-2025: < 0.1%● 0.0% vs 09-2025 11-2025: < 0.1%● 0.0% vs 10-2025 12-2025: < 0.1%● 0.0% vs 11-2025 01-2026: < 0.1%▼ -2.3% vs 12-2025lowest value 02-2026: < 0.1%● 0.0% vs 01-2026lowest value 03-2026: < 0.1%● 0.0% vs 02-2026lowest value 04-2026: < 0.1%▲ +2.3% vs 03-2026 05-2026: < 0.1%▲ +2.3% vs 04-2026 06-2026: < 0.1%▲ +6.7% vs 05-2026 07-2026: < 0.1%▲ +2.1% vs 06-2026 08-2026: 0.1%▲ +46.9% vs 07-2026 09-2026: 0.1%● 0.0% vs 08-2026 10-2026: 0.1%● 0.0% vs 09-2026
  • Size: total assets €391,646 lowers the probability for this profile
  • Equity €321,357 (82.1% of total assets) lowers the probability
  • Founded in 1989 lowers the probability for this profile
  • Figures for FY 2025 (filed 29-07-2026) lowers the probability
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 3.08 against 2.95 in 2024; short-term debt: 10.9% and cash: 4.9% of total assets), and 17.9% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (no NACE code, micro). Better than this share of them on solvency 81%, liquidity 52%, profitability 21%, growth against the median 34%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Size: total assets €391,646
In the bankruptcy model this factor lowers the probability for this profile.
NBB · annual accounts
lowers risk · Equity €321,357 (82.1% of total assets)
In the bankruptcy model this factor lowers the probability.
NBB · annual accounts
lowers risk · Founded in 1989
In the bankruptcy model this factor lowers the probability for this profile.
KBO
lowers risk · Figures for FY 2025 (filed 29-07-2026)
In the bankruptcy model this factor lowers the probability.
NBB · annual accounts
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025
Net result per financial year
1819202122232425
2018 to 2025 · latest year -€11,609
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
2 d early
2024
2 d early
2023
7 d early
2022
on the day
2021
3 d early
2020
4 d early
2019
7 d early
← before the deadline after the deadline →
tick = median of all Belgian filings

This company filed its last 7 accounts on average 4 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 29 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
03-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Reappointments: Koen Vanholder, Guido Vanholder and…Appointments: Marijke Vanholder (director) and…
  2. Annual accounts filedfiscal year 2025 · abbreviated…
  3. Annual accounts filedfiscal year 2024 · micro…

Key points

  • Positive: Always filed on timeaccounts within the deadline every year 8 years View
  • Caution: 2 loss-making years in a rowloss fiscal year 2025 -€11,609 View
  • Board changedlatest change 20-06-2026 · 3 in office 1 joined · 1 left View

By topic

Financials

Fiscal year
2025
Total assets
€391,646
Loss
-€11,609
Solvency
82.1%
Total assets▼ 3.4%
Net result
20182025
Go to Financials

Timeline

Events
14
Since
2017
Next accounts
by 31-07-2027
  1. 07-08-2026Reappointments: Koen Vanholder, Guido Vanholder and 2…
  2. 29-07-2026Annual accounts filed
  3. 29-07-2025Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Founded
19-12-1989
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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