VANGANSEWINKEL SUBSEA CONSTRUCTION
ActiveSummary
The computed 12-month bankruptcy probability of VANGANSEWINKEL SUBSEA CONSTRUCTION is 1.9% (moderate). The 2025 annual accounts show equity of €63k and a net result of €29k. Equity is growing by ~82.4% per year across the filed fiscal years. Its solvency ranks better than 51% of 1904 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
73
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability96▼-4
Solvency72▼-6
Growth78=
Track record94
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €4.5k at 30 days acceptable
Liquidity ample (current ratio 1.64 against 1.93 in 2024; short-term debt: 37.1% and cash: 34.9% of total assets), but 53.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Sector 25
higher
← fewer bankruptcies
more bankruptcies →
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
46.6%
Return on assets
21.4%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 3 filingsDeviation from the deadline
2025
28 d late
2024
8 d early
2023
19 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€63k▲ 85.0%
2024 · €34k
2023: €7k
2024: €34k
2023 → 2025
Total assets
€136k▲ 109%
2024 · €65k
2023: €38k
2024: €65k
2023 → 2025
Net result
€29k▲ 6.7%
2024 · €27k
2023: €4k
2024: €27k
2023 → 2025
Working capital
€33k▲ 43.3%
2024 · €23k
2023: €728
2024: €23k
2023 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€7k-€34k▲ 392%€63k▲ 85.0%
Operating result€6k-€35k▲ 452%€37k▲ 5.6%
Net result€4k-€27k▲ 588%€29k▲ 6.7%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2025 is 6% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €136k
Fixed assets
€53k ▲ 192%
Current assets
€83k ▲ 76.4%
Equity and liabilities €136k
Equity
€63k ▲ 85.0%
Debt
€73k ▲ 135%
Debt's share of the balance-sheet total rises from 47.4% to 53.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€46k▲
2024 · €40k
Cash flow
€37k▲
2024 · €32k
Current ratio
1.64▼
2024 · 1.93
Debt to equity
1.15▲
2024 · 0.90
ROE
46.0%▼
2024 · 79.7%
ROA
21.4%▼
2024 · 41.9%
Interest coverage
73.20▲
2024 · 41.66
Debt ≤ 1 year
€50k▲
2024 · €24k
Debt > 1 year
€22k▲
2024 · €7k
Income taxes
€8k▲
2024 · €7k
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 · 41 lines
Balance sheet
Code20242025
Assets
Total assets20/58€65k€136k▲
Fixed assets21/28€18k€53k▲
Tangible fixed assets22/27€18k€53k▲
Plant, machinery and equipment23€2k€956▼
Furniture and vehicles24€17k€11k▼
Leasing and similar rights25-€41k
Current assets29/58€47k€83k▲
Amounts receivable within one year40/41€20k€33k▲
Trade receivables40€19k€32k▲
Other amounts receivable41€910€889▼
Cash at bank and in hand54/58€25k€47k▲
Deferred charges and accrued income490/1€2k€3k▲
Equity and liabilities
Total equity and liabilities10/49€65k€136k▲
Equity10/15€34k€63k▲
Contributions10/11€3k€3k=
Profit (loss) carried forward14€31k€60k▲
Amounts payable17/49€31k€73k▲
Amounts payable after more than one year17€7k€22k▲
Financial debts170/4€7k€22k▲
Amounts payable within one year42/48€24k€50k▲
Current portion of amounts payable after more than one year42€6k€26k▲
Trade debts44€3k€3k▼
Suppliers440/4€3k€3k▼
Taxes, remuneration and social security45€7k€15k▲
Taxes450/3€7k€15k▲
Other amounts payable47/48€8k€6k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€8k▲
Other operating charges640/8€352€779▲
Non-recurring operating charges66A€19k€0▼
Gross operating margin9900€59k€47k▼
Operating profit (loss)9901€35k€37k▲
Financial income75/76B€0-
Recurring financial income75€0-
Financial charges65/66B€958€625▼
Recurring financial charges65€958€625▼
Profit (loss) for the period before taxes9903€35k€37k▲
Income taxes67/77€7k€8k▲
Profit (loss) for the period9904€27k€29k▲
Profit (loss) for the period to be appropriated9905€27k€29k▲
Appropriation of the result
Profit (loss) to be appropriated9906€31k€60k▲
Profit (loss) brought forward from the previous period14P€4k€31k▲
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
31-12
Financial
Highest result since 2023net €29k ▲6.7%
Operating result €37k, net result €29k, both a record.
23-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
19-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 19 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Hamont-Achel · 1 establishment unit since 2022
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.
Mulkerbos 173930 Hamont-AchelGround area
596 m²
Building footprint
211 m²
Volume, LiDAR
677 m³
Parcel 72012A0953/00B000, Flanders · tallest building 6.7 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
VANGANSEWINKEL SUBSEA CONSTRUCTION
since 20222.338.735.722
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72012A0953/00B000 | Flanders | 596 m² | 1 · 211 m² | 6.7 m · 1 fl. |
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.
Similar companies · same sector, comparable size
CREA FERRO
BE 1000.924.390
Ingelmunster · Eq €63,175
LEVOMATICS
BE 0717.957.178
Zulte · Eq €63,872
SIGGA
BE 0471.911.136
Schoten · Eq €63,064
THIRY AGRI TECHNICS
BE 0890.714.574
Linter · Eq €62,991
JAN VERBOVEN
BE 0876.130.526
Zoutleeuw · Eq €64,010
Of 3,464 companies in sector 25530 we hold annual accounts for 1,658. 1,121 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded09-12-2022
Fiscal year end31-12
Abbreviation NL
VSC
Activities, NACEBEL 2025
25530Machining of metals
Sources
Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.