Equity
Vanisol paid out €30,000 in dividends. That is 64% of the 2025 profit.
Vanisol paid out €30,000 in dividends. That is 64% of the 2025 profit.
Of this, €56,846 falls due within a year.
Mortgage mandates, new in 2025. 2.4 times equity · not in the 2024 accounts.
The dashed line is the sector median: 0.1% across 25,932 companies (NACE 62, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 62, micro). It does better than 23% of them on solvency, 14% on liquidity, 82% on profitability and 88% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 6,713 companies had the same profile as Vanisol has now. Each dot stands for 17 companies, two years later.
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Vanisol itself is lower: 0.2% within 12 months. It rests on far more data about Vanisol than the profile alone.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,713 companies, not a prediction for Vanisol. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is insufficient, with a current ratio of 0.66 (0.77 in 2024), below 1. Short-term debt is 33.6% and cash 0.7% of total assets. 79.2% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 59 days before the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| Vanisol Waregem | €169,098 | €72,669 | 20.8% | - |
| DAMATEC Kortrijk | €187,974 | €69,796 | 55.2% | - |
| DH SAP Consult Wervik | €146,101 | €68,337 | 24.1% | - |
| FINET PLUS Bruges | €158,613 | €61,624 | 66.0% | - |
| INDIZ Molenbeek-Saint-Jean | €165,022 | €73,979 | 49.7% | - |
| E.LUQUE Sint-Pieters-Leeuw | €158,202 | €72,780 | 12.9% | - |
| ODP Consulting Tervuren | €158,972 | €74,744 | 51.0% | - |
These companies have the same main activity as Vanisol: computer consultancy and computer facilities management (NACE 62200). They are comparable in size and age: total assets between €146,000 and €188,000, founded between 2017 and 2018.
Vanisol files the micro format. That format states no turnover. The gross margin rose from €4,810 in 2018 to €72,669 in 2025.
The balance sheet grew most from 2019 to 2021 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €140,000. Estimated: probably between €120,000 and €180,000.
Higher than 21% of 21,208 companies in 2025.
Higher than 9% of 20,571 companies in 2025.
Higher than 64% of 20,746 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||
20/58 |
169,098 | 201,654 | 210,241 | 188,744 | 177,431 | 57,144 | 56,764 | 15,790 | |
21/28 |
131,441 | 128,145 | 135,345 | 142,941 | 134,709 | 6,734 | 2,106 | 943 | |
22/27 |
131,410 | 128,114 | 135,314 | 142,910 | 134,678 | 6,703 | 2,075 | 943 | |
22 |
117,449 | 119,324 | 121,199 | 123,074 | 124,949 | - | - | - | |
23 |
2,938 | 5,448 | 8,015 | 10,979 | 2,819 | 4,139 | 566 | 943 | |
24 |
11,023 | 3,342 | 6,100 | 8,858 | 6,910 | 2,564 | 1,509 | - | |
28 |
31 | 31 | 31 | 31 | 31 | 31 | 31 | - | |
29/58 |
37,657 | 73,509 | 74,897 | 45,803 | 42,722 | 50,409 | 54,659 | 14,847 | |
40/41 |
34,263 | 53,835 | 48,868 | 17,892 | 12,258 | 8,813 | 10,196 | 11,446 | |
40 |
34,263 | 53,636 | 48,271 | 15,869 | 10,730 | 8,813 | 10,196 | 11,446 | |
41 |
0 | 198 | 597 | 2,023 | 1,529 | - | - | - | |
54/58 |
1,174 | 17,597 | 23,370 | 25,366 | 27,554 | 38,981 | 43,460 | 2,160 | |
490/1 |
2,219 | 2,077 | 2,658 | 2,546 | 2,910 | 2,616 | 1,003 | 1,241 | |
| Balance sheet: equity and liabilities | |||||||||
10/49 |
169,098 | 201,654 | 210,241 | 188,744 | 177,431 | 57,144 | 56,764 | 15,790 | |
10/15 |
35,167 | 18,600 | 18,600 | 18,600 | 20,460 | 32,869 | 27,630 | 7,690 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 0 | 12,400 | |
13 |
16,567 | - | - | 0 | 1,860 | 14,269 | 9,030 | 1,490 | |
130/1 |
- | - | - | 0 | 1,860 | 1,860 | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 74 | |
1311 |
- | - | - | 0 | 1,860 | 1,860 | - | - | |
133 |
16,567 | - | - | - | 0 | 12,409 | 7,170 | 1,415 | |
14 |
0 | 0 | 0 | 0 | 0 | - | - | - | |
17/49 |
133,932 | 183,054 | 191,641 | 170,144 | 156,971 | 24,274 | 29,134 | 8,100 | |
17 |
75,369 | 86,291 | 97,073 | 89,998 | 99,626 | - | - | - | |
170/4 |
75,369 | 86,291 | 97,073 | 89,998 | 99,626 | - | - | - | |
42/48 |
56,846 | 95,271 | 92,554 | 76,988 | 47,004 | 13,556 | 28,114 | 7,080 | |
42 |
10,922 | 10,782 | 10,645 | 9,628 | 10,374 | - | - | - | |
43 |
52 | - | - | - | - | - | - | - | |
430/8 |
52 | - | - | - | - | - | - | - | |
44 |
1,009 | 1,038 | 2,015 | 1,365 | 2,444 | 1,855 | 17,866 | 4,041 | |
440/4 |
1,009 | 1,038 | 2,015 | 1,365 | 2,444 | 1,855 | 17,866 | 4,041 | |
45 |
12,187 | 11,463 | 12,960 | 13,869 | 10,682 | 8,294 | 8,599 | 3,040 | |
450/3 |
12,187 | 11,463 | 10,360 | 11,269 | 10,682 | 8,294 | 8,599 | 3,040 | |
454/9 |
- | 0 | 2,600 | 2,600 | - | - | - | - | |
47/48 |
32,676 | 71,988 | 66,935 | 52,126 | 23,505 | 3,407 | 1,650 | - | |
492/3 |
1,717 | 1,492 | 2,014 | 3,158 | 10,340 | 10,719 | 1,020 | 1,020 | |
| Income statement | |||||||||
9900 |
72,669 | 65,647 | 64,287 | 47,144 | 25,649 | 12,267 | 15,012 | 4,810 | |
630 |
7,906 | 7,199 | 7,597 | 5,853 | 15,375 | 1,451 | 1,132 | 1,710 | |
640/8 |
824 | 801 | 1,133 | 605 | 41 | 494 | 461 | 455 | |
9901 |
63,939 | 57,647 | 55,557 | 40,685 | 10,233 | 10,322 | 13,420 | 2,645 | |
75/76B |
88 | 20 | 0 | 0 | 13 | 0 | 0 | - | |
75 |
88 | 20 | 0 | 0 | 13 | 0 | 0 | - | |
65/66B |
2,769 | 2,960 | 2,695 | 2,258 | 925 | 624 | 684 | 30 | |
65 |
2,769 | 2,960 | 2,695 | 2,258 | 925 | 624 | 684 | 30 | |
9903 |
61,258 | 54,706 | 52,862 | 38,427 | 9,320 | 9,699 | 12,736 | 2,615 | |
67/77 |
14,692 | 11,802 | 11,403 | 7,977 | 2,471 | 2,859 | 3,572 | 1,126 | |
9904 |
46,567 | 42,905 | 41,459 | 30,450 | 6,849 | 6,839 | 9,164 | 1,490 | |
9905 |
46,567 | 42,905 | 41,459 | 30,450 | 6,849 | 6,839 | 9,164 | 1,490 | |
| Appropriation of the result | |||||||||
9906 |
46,567 | 42,905 | 41,459 | 30,450 | 6,849 | 6,839 | 9,164 | 1,490 | |
791/2 |
- | - | 0 | 1,860 | 12,409 | - | - | - | |
691/2 |
16,567 | - | - | - | 0 | 5,239 | 7,540 | 1,490 | |
6920 |
- | - | - | - | - | 0 | 1,786 | 74 | |
6921 |
16,567 | - | - | - | 0 | 5,239 | 5,755 | 1,415 | |
694/7 |
30,000 | 42,905 | 41,459 | 32,310 | 19,258 | 1,600 | 1,624 | - | |
694 |
30,000 | 42,905 | 41,459 | 32,310 | 19,258 | 1,600 | 1,624 | - | |
| Document | |||||||||
The notes to these accounts have 16 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 08-06-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 08-06-2026 | 2026-00155026 | |
| 31-12-2024 | micro format | 16-06-2025 | 2025-00141324 | |
| 31-12-2023 | micro format | 17-06-2024 | 2024-00133641 | |
| 31-12-2022 | micro format | 06-06-2023 | 2023-00107652 | |
| 31-12-2021 | micro format | 17-05-2022 | 2022-20027995 | |
| 31-12-2020 | micro format | 05-05-2021 | 2021-13400340 | |
| 31-12-2019 | micro format | 04-06-2020 | 2020-14800259 | |
| 31-12-2018 | micro format | 22-05-2019 | 2019-14000266 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| 71,846 | 64,846 | 63,154 | 46,539 | 25,607 | 11,773 | 14,551 | 4,355 | ||
| 54,473 | 50,104 | 49,056 | 36,304 | 22,224 | 8,290 | 10,296 | 3,200 | ||
| 11,203 | 0 | 0 | 14,086 | 143,349 | 6,080 | 2,295 | 1,571 | ||
| -16,423 | -5,773 | -1,996 | -2,188 | -11,427 | -4,479 | 41,300 | - | ||
| -19,189 | -21,763 | -17,658 | -31,185 | -4,282 | 36,854 | 26,544 | 7,767 | ||
| 20.8% | 9.2% | 8.8% | 9.9% | 11.5% | 57.5% | 48.7% | 48.7% | ||
| 0.66 | 0.77 | 0.81 | 0.59 | 0.91 | 3.72 | 1.94 | 2.10 | ||
| 3.81 | 9.84 | 10.30 | 9.15 | 7.67 | 0.74 | 1.05 | 1.05 | ||
| 132.4% | 230.7% | 222.9% | 163.7% | 33.5% | 20.8% | 33.2% | 19.4% | ||
| 27.5% | 21.3% | 19.7% | 16.1% | 3.9% | 12.0% | 16.1% | 9.4% | ||
| 25.94 | 21.91 | 23.43 | 20.61 | 27.68 | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Mortgages, amount registered | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 |
| €85,000 | - | - | - | - | |
| Carrying value of the mortgaged assets | €117,449 | €119,324 | €121,199 | €123,074 | €124,949 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €11,203 | - | - | €14,086 | €143,349 |
| Financial fixed assets | €0 | - | - | - | - |
| €7,906 | €7,199 | €7,597 | €5,853 | €15,375 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 11% higher than in 2024 and the highest since 2018. It is the fourth rise in a row, after the fall in 2021.
Debt's share of the balance-sheet total falls from 90.8% to 79.2%. Equity is higher and debt is lower.
Vanisol has no parent and no holdings in its annual accounts. VAN NIEUWENHUYSE Ilse is the only director. Vanisol shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
Vanisol was incorporated on 5 January 2018.1 Since 2018, VAN NIEUWENHUYSE Ilse has served as director.2 Total assets rose from €15,790 in 2018 to €169,098 in 2025.3
| Establishment | Since | Unit number |
|---|---|---|
| Roger Vansteenbruggestraat 61 registered office 8790 Waregem | 05-01-2018 | 2.271.734.753 |
| Oude Nokerseweg 27 8790 Waregem | 23-12-2021 | 2.354.292.146 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 34040C0171/00Z000 | 682 m² | 1 · 124 m² | 10.3 m · 1 |
| 34452A0844/00V004 | 71 m² | 1 · 69 m² | 5.3 m · 1 |
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