VANGARDE
ActiveThe file of VANGARDE contains 4 historical bankruptcy publications, as published in the Belgian State Gazette. The annual accounts of VANGARDE for fiscal year 2025 show a net loss of 94% of total assets and of 93% of the equity at the start of that year. The computed 12-month bankruptcy probability is 0.8% (low). The 2025 annual accounts show equity of €3k and a net result of €-38k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 18% of 3478 sector peers (fiscal year 2025).
Checked score
Score 2025
33
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-17
Solvency32▼-39
Growth52=
Track record85
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.08 against 1.84 in 2024; short-term debt: 92.9% of total assets), and 92.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Ten signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 74
Relative position
BE, all sectors
reference
Sector 74
lower
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
7.1%
Return on assets
-94.4%
Age of the figures
9 mo
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
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 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-38k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 3478 sector peers (2025).
NBB · sector comparisonPosition among 3478 sector peers
Solvency
better than 18%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 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 · 10 filingsDeviation from the deadline
2025
24 d late
2024
53 d late
2023
111 d late
2022
123 d late
2021
395 d late
2020
108 d late
2019
52 d late
← before the deadline
after the deadline →
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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€73k▼ 73.4%
2019 · €274k
2018: €448k
2019: €274k
2018 → 2020
EBIT margin
-16.6%▼ 53.3pp
2019 · 36.7%
2018: -36.3%
2019: 36.7%
2018 → 2020
Net result
€-38k▼ 3,282%
2024 · €-1k
2018: €-172k
2019: €99k
2020: €-13k
2021: €59k
2022: €12k
2023: €48k
2024: €-1k
2018 → 2025
Working capital
€3k▼ 93.0%
2024 · €41k
2018: €-163k
2019: €-66k
2020: €-77k
2021: €-19k
2022: €-11k
2023: €37k
2024: €41k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-18k-€-6k▲ 65.4%€42k€41k▼ 2.7%€3k▼ 93.0%
Operating result€61k-€17k▼ 71.4%€82k▲ 368%€-4k€-43k▼ 930%
Net result€59k-€12k▼ 80.2%€48k▲ 315%€-1k€-38k▼ 3,282%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €43k in 2025 against €4k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €41k
Equity
€3k▼ 93.0%
Debt
€38k▼ 23.5%
The debt ratio rises from 54.5% to 92.9%. Equity and debt are lower.
Key figures and ratios
Solvency
7.1%▼
2024 · 45.5%
Current ratio
1.08▼
2024 · 1.84
Quick ratio
1.08▼
2024 · 1.84
Debt / equity
13.16▲
2024 · 1.20
ROA
-94.4%▼
2024 · -1.3%
Debt
€38k▼
2024 · €49k
Debt ≤ 1 year
€38k▼
2024 · €49k
A ratio outside any meaningful range has been withheld (balance sheet total €41k, equity €3k).
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€90k€41k▼
Fixed assets21/28€0-
Tangible fixed assets22/27€0-
Plant, machinery and equipment23€0-
Financial fixed assets28€0-
Current assets29/58€90k€41k▼
Amounts receivable within one year40/41€87k€38k▼
Trade receivables40€35k-
Other amounts receivable41€52k€38k▼
Cash at bank and in hand54/58€0-
Deferred charges and accrued income490/1€3k€3k▼
Equity and liabilities
Total equity and liabilities10/49€90k€41k▼
Equity10/15€41k€3k▼
Contributions10/11€6k€6k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€33k€-5k▼
Amounts payable17/49€49k€38k▼
Amounts payable within one year42/48€49k€38k▼
Financial debts43€0-
Other loans439€0-
Trade debts44€0€37▲
Suppliers440/4€0€37▲
Taxes, remuneration and social security45€49k€38k▼
Taxes450/3€49k€38k▼
Remuneration and social security454/9€0-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k-
Other operating charges640/8-€1k
Gross operating margin9900€0€-42k▼
Operating profit (loss)9901€-4k€-43k▼
Financial income75/76B€3k€5k▲
Recurring financial income75€3k€5k▲
Financial charges65/66B€5€233▲
Recurring financial charges65€5€233▲
Profit (loss) for the period before taxes9903€-1k€-38k▼
Income taxes67/77€0-
Profit (loss) for the period9904€-1k€-38k▼
Profit (loss) for the period to be appropriated9905€-1k€-38k▼
Appropriation of the result
Profit (loss) to be appropriated9906€33k€-5k▼
Profit (loss) brought forward from the previous period14P€34k€33k▼
The notes to these accounts (3 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
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 24 days late
2025
22-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 53 days late
2024
19-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 111 days late
12-01
Bankruptcy
Bankruptcy reversal
Tribunal de l’entreprise francophone de Bruxelles · VANGARDE SRL RUE BARA 173-, 1070 ANDERLECHT. déclarée le 25 septembre 2023 · event 11-12-2023
2023
01-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 123 days late
02-10
Bankruptcy
Opening
Tribunal de l’entreprise francophone de Bruxelles · VANGARDE SRL RUE BARA 173-, 1070 ANDERLECHT · event 25-09-2023
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 395 days late
2021
31-12
Financial
Back to profitnet €59k
Net result €59k after one loss-making year.
16-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 108 days late
2020
21-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 52 days late
2019
31-12
Financial
Back to profitnet €99k
Net result €99k after one loss-making year.
09-12
Bankruptcy
Bankruptcy reversal
Tribunal de l’entreprise francophone de Bruxelles · VANGARDE SPRL RUE BARA 173-, 1070 ANDER- LECHT. déclarée le 12 novembre 2019 · event 03-12-2019
20-11
Bankruptcy
Opening
Tribunal de l’entreprise francophone de Bruxelles · VANGARDE SPRL RUE BARA 173-, 1070 ANDERLECHT · event 12-11-2019
11-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 42 days late
2018
24-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 55 days late
2017
24-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 24 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Anderlecht · 1 establishment unit since 2015
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.
Barastraat 173-1771070 AnderlechtGround area
1.0 ha
Building footprint
2,081 m²
Volume, LiDAR
42,712 m³
Parcel 21305C0327/00Y012, Brussels · tallest building 23.6 m, ±7 floors. Linked by address, not a title deed.
1 establishment unit
VANGARDE
since 20152.240.802.047
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21305C0327/00Y012 ProtectedMonument · Site or landscapeVeeartsenijschool van Kuregem en het park |
Brussels | 1.0 ha | 1 · 2,081 m² | 23.6 m · 7 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.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Insolvency mandates
2 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | JEAN-MICHEL DERICK AVENUE LOUISE 391 BTE 3,
1050 FR BRUXELLES 5 |
25-09-2023 → present |
| Curator | VINCENT TERLINDEN Avenue Louise 349/16,
1050 BRUXELLES 5 |
12-11-2019 → present |
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Of 887 companies in sector 74991 we hold annual accounts for 316. 96 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded19-03-2015
Fiscal year end31-12
Activities, NACEBEL
74991Agents and managers of artists, athletes and other public figures
59113Video and film production, excluding cinema and television films
59114Motion picture, video and television programme production, sound recording and music publishing activities
59203Motion picture, video and television programme production, sound recording and music publishing activities
70200Business and other management consultancy
Sources
Crossroads Bank for EnterprisesNational Bank · 11 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.