VANLERBERGHE
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 02-06-2026 PDF all 41 filings
Turnover
€782,343
EBIT margin
0.3%
Net result
-€198,665▼ 28.3%
2024 · -€154,882
Working capital
€1.5m▼ 11.1%
2024 · €1.6m
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
-€198,333
▼ 27.9%
2025
20182025
Net result
-€198,665
▼ 28.3%
2025
lowest quarter of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
€1.5m
▼ 11.7%
2025
highest quarter of the sector
20182025
Total assets
€1.7m
▼ 10.8%
2025
highest quarter of the sector
20182025
Debt
€183,745
▼ 2.8%
2025
20182025
Working capital
€1.5m
▼ 11.1%
2025
highest quarter of the sector
20182025
Solvency
89.1%
▼ 0.9pp
2025
highest quarter of the sector
20182025
Current ratio
8.92
▼ 0.96
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-11.8%
▼ 3.6pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
2.5
=
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0.8m
Operating result-€0.2m-€0.01m€0.002m▼ 81.1%-€0.07m-€0.04m▲ 41.2%-€0.2m▼ 377%-€0.2m▲ 21.5%-€0.2m▼ 27.9%
Net result-€0.2m-€0.007m€0.002mwithin the sector's middle half▼ 70.4%-€0.07mbelow the sector's middle half-€0.04mbelow the sector's middle half▲ 41.0%-€0.2mbelow the sector's middle half▼ 373%-€0.2mbelow the sector's middle half▲ 21.8%-€0.2mbelow the sector's middle half▼ 28.3%
EBIT margin0.3%
Equity€2.2m-€2.2m▲ 0.3%€2.2mabove the sector's middle half▲ 0.1%€2.1mabove the sector's middle half▼ 3.3%€2.1mabove the sector's middle half▼ 2.0%€1.9mabove the sector's middle half▼ 9.6%€1.7mabove the sector's middle half▼ 8.3%€1.5mabove the sector's middle half▼ 11.7%
Total assets€2.6m-€2.4m▼ 7.9%€2.4mabove the sector's middle half▼ 0.4%€2.4mwithin the sector's middle half▼ 1.3%€2.2mwithin the sector's middle half▼ 5.1%€2.0mwithin the sector's middle half▼ 8.8%€1.9mwithin the sector's middle half▼ 7.4%€1.7mabove the sector's middle half▼ 10.8%
Debt€0.4m-€0.2m▼ 47.6%€0.2m▼ 4.5%€0.3m▲ 17.6%€0.2m▼ 29.8%€0.2m▲ 0.3%€0.2m▲ 1.8%€0.2m▼ 2.8%
Working capital€2.1m-€2.1m▲ 2.0%€2.1mabove the sector's middle half▲ 0.8%€2.0mabove the sector's middle half▼ 4.1%€2.0mabove the sector's middle half▼ 2.3%€1.8mabove the sector's middle half▼ 9.6%€1.6mabove the sector's middle half▼ 9.0%€1.5mabove the sector's middle half▼ 11.1%
Solvency82.8%-90.2%▲ 7.4pp90.6%above the sector's middle half▲ 0.4pp88.8%above the sector's middle half▼ 1.8pp91.7%above the sector's middle half▲ 2.9pp90.9%above the sector's middle half▼ 0.8pp90.0%above the sector's middle half▼ 0.9pp89.1%above the sector's middle half▼ 0.9pp
Current ratio5.83-10.54▲ 4.7110.76above the sector's middle half▲ 0.219.45above the sector's middle half▼ 1.3012.43above the sector's middle half▲ 2.9811.07above the sector's middle half▼ 1.369.87above the sector's middle half▼ 1.198.92above the sector's middle half▼ 0.96
Return on assets (ROA)-7.6%-0.3%▲ 7.9pp0.1%below the sector's middle half▼ 0.2pp-3.0%below the sector's middle half▼ 3.1pp-1.9%below the sector's middle half▲ 1.1pp-9.7%below the sector's middle half▼ 7.8pp-8.2%below the sector's middle half▲ 1.5pp-11.8%below the sector's middle half▼ 3.6pp
Staff (FTE)3-2.9▼ 3.3%2.9within the sector's middle half=2.5within the sector's middle half▼ 13.8%2.5within the sector's middle half=2.5within the sector's middle half=2.5within the sector's middle half=2.5=
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €198,333, larger than the loss of €155,062 in 2024. It is the lowest result since 2021.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.7m
Fixed assets
€47,105 ▼ 32.1%
Current assets
€1.6m ▼ 10.0%
Equity and liabilities €1.7m
Equity
€1.5m ▼ 11.7%
Debt
€183,745 ▼ 2.8%
Debt's share of the balance-sheet total rises from 10.0% to 10.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€176,037▼
2024 · -€134,886
Cash flow
-€176,368▼
2024 · -€134,706
Quick ratio
1.55▼
2024 · 2.07
Debt to equity
0.12▲
2024 · 0.11
ROE
-13.2%▼
2024 · -9.1%
Interest coverage
-272.32▲
2024 · -459.72
Debt ≤ 1 year
€183,745▼
2024 · €184,315
Staff costs
€146,057▲
2024 · €141,596
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 3 | 3 | 3 | 3 | 3 |
| full-time | 2 | 2 | 2 | 2 | 2 |
| part-time | 1 | 1 | 1 | 1 | 1 |
| in full-time equivalents | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 |
| Average over the year, in full-time equivalents | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 |
| On a permanent contract | 3 | 3 | 3 | 3 | 3 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €238,764 | €176,768 | €165,953 | €158,637 | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €73,500 | €21,321 | €17,463 | €52,500 | - |
| Depreciation and write-downs of the year | €40,465 | €27,100 | €25,036 | €20,176 | €22,297 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 3 entries · €731 awarded · €731 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €315 | €315 |
| 2024 | 1 | €158 | €158 |
| 2022 | 1 | €258 | €258 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | €782,343 | - | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €122,527 | €113,486 | €133,534 | €141,596 | €146,057 | ▲ 3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €58,962 | €37,186 | €31,111 | €40,465 | €27,100 | €25,036 | €20,176 | €22,297 | ▲ 10.5% |
| Other operating charges640/8 | - | - | - | €5,160 | €5,104 | €4,969 | €5,525 | €6,637 | ▲ 20.1% |
| Gross operating margin9900 | €33,493 | €201,474 | €206,810 | €97,660 | €104,255 | -€34,016 | €12,236 | -€23,343 | - |
| Operating profit (loss)9901 | -€190,915 | €10,866 | €2,054 | -€70,492 | -€41,435 | -€197,556 | -€155,062 | -€198,333 | ▼ 27.9% |
| Financial income75/76B | - | - | - | €46 | €250 | €127 | €473 | €315 | ▼ 33.5% |
| Recurring financial income75 | €3,175 | - | €323 | €46 | €250 | €127 | €473 | €315 | ▼ 33.5% |
| Financial charges65/66B | - | - | - | €577 | €695 | €652 | €293 | €646 | ▲ 120% |
| Recurring financial charges65 | €10,871 | €3,489 | €143 | €577 | €695 | €652 | €293 | €646 | ▲ 120% |
| Profit (loss) for the period before taxes9903 | -€198,611 | €7,377 | €2,234 | -€71,023 | -€41,880 | -€198,081 | -€154,882 | -€198,665 | ▼ 28.3% |
| Income taxes67/77 | €464 | €287 | €137 | - | - | - | - | - | - |
| Profit (loss) for the period9904 | -€199,075 | €7,090 | €2,097 | -€71,023 | -€41,880 | -€198,081 | -€154,882 | -€198,665 | ▼ 28.3% |
| Profit (loss) for the period to be appropriated9905 | -€199,075 | €7,090 | €2,097 | -€71,023 | -€41,880 | -€198,081 | -€154,882 | -€198,665 | ▼ 28.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.6m | €2.4m | €2.4m | €2.4m | €2.2m | €2.0m | €1.9m | €1.7m | ▼ 10.8% |
| Fixed assets21/28 | €0.1m | €0.07m | €0.05m | €0.08m | €0.08m | €0.06m | €0.07m | €0.05m | ▼ 32.1% |
| Tangible fixed assets22/27 | €0.1m | €0.07m | €0.05m | €0.08m | €0.08m | €0.06m | €0.07m | €0.05m | ▼ 32.1% |
| Plant, machinery and equipment23 | - | - | - | €0.01m | €0.01m | €0.02m | €0.01m | €0.006m | ▼ 39.5% |
| Furniture and vehicles24 | - | - | - | €0.07m | €0.06m | €0.05m | €0.06m | €0.04m | ▼ 30.9% |
| Current assets29/58 | €2.5m | €2.3m | €2.3m | €2.3m | €2.2m | €2.0m | €1.8m | €1.6m | ▼ 10.0% |
| Stocks and contracts in progress3 | €2.3m | €2.1m | €2.0m | €1.6m | €1.5m | €1.5m | €1.4m | €1.4m | ▼ 6.0% |
| Stocks30/36 | - | - | - | €1.6m | €1.5m | €1.5m | €1.4m | €1.4m | ▼ 6.0% |
| Amounts receivable within one year40/41 | €0.1m | €0.08m | €0.1m | €0.07m | €0.1m | €0.08m | €0.02m | €0.02m | ▲ 2.7% |
| Trade receivables40 | - | - | - | €0.05m | €0.09m | €0.06m | €0.02m | €0.01m | ▼ 30.9% |
| Other amounts receivable41 | - | - | - | €0.01m | €0.02m | €0.02m | €0.005m | €0.01m | ▲ 129% |
| Cash at bank and in hand54/58 | €0.1m | €0.1m | €0.2m | €0.6m | €0.6m | €0.4m | €0.4m | €0.2m | ▼ 30.3% |
| Deferred charges and accrued income490/1 | - | - | - | €0.005m | €0.006m | €0.006m | €0.008m | €0.02m | ▲ 127% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.6m | €2.4m | €2.4m | €2.4m | €2.2m | €2.0m | €1.9m | €1.7m | ▼ 10.8% |
| Equity10/15 | €2.2m | €2.2m | €2.2m | €2.1m | €2.1m | €1.9m | €1.7m | €1.5m | ▼ 11.7% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €2.5m | €2.5m | €2.5m | €2.5m | €2.5m | €2.5m | €2.5m | €2.5m | = |
| Non-distributable reserves130/1 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Reserves not available under the articles1311 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Distributable reserves133 | - | - | - | €2.4m | €2.4m | €2.4m | €2.4m | €2.4m | = |
| Profit (loss) carried forward14 | -€0.4m | -€0.4m | -€0.4m | -€0.4m | -€0.5m | -€0.7m | -€0.8m | -€1.0m | ▼ 23.8% |
| Amounts payable17/49 | €0.4m | €0.2m | €0.2m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 2.8% |
| Amounts payable after more than one year17 | €0.006m | - | - | €0.02m | €0.004m | - | - | - | - |
| Financial debts170/4 | - | - | - | €0.02m | €0.004m | - | - | - | - |
| Amounts payable within one year42/48 | €0.4m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 0.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.01m | €0.01m | €0.004m | - | - | - |
| Trade debts44 | €9 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.03m | €0.02m | ▼ 36.7% |
| Suppliers440/4 | - | - | - | €0.02m | €0.02m | €0.02m | €0.03m | €0.02m | ▼ 36.7% |
| Advances received on contracts in progress46 | - | - | - | €0.02m | - | €0.01m | €0.003m | €0.01m | ▲ 354% |
| Taxes, remuneration and social security45 | - | - | - | €137 | - | - | €0.005m | €0.006m | ▲ 43.1% |
| Taxes450/3 | - | - | - | €137 | - | - | - | - | - |
| Remuneration and social security454/9 | - | - | - | - | - | - | €0.005m | €0.006m | ▲ 43.1% |
| Other amounts payable47/48 | - | - | - | €0.2m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Accrued charges and deferred income492/3 | - | - | - | €0.006m | €0.007m | €0.007m | €0.005m | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€199,075 | €7,090 | €2,097 | -€71,023 | -€41,880 | -€198,081 | -€154,882 | -€198,665 | ▼ 28.3% |
| + Depreciation and write-downs630 | €58,962 | €37,186 | €31,111 | €40,465 | €27,100 | €25,036 | €20,176 | €22,297 | ▲ 10.5% |
| Operating cash flow (approximation) | -€140,113 | €44,276 | €33,208 | -€30,558 | -€14,780 | -€173,045 | -€134,706 | -€176,368 | ▼ 30.9% |
| Investment in fixed assets (approximation) | - | €3,404 | -€8,556 | -€73,500 | -€21,321 | -€13,823 | -€25,337 | €0 | - |
| Change in cash | - | €4,413 | €52,328 | €428,270 | -€23,054 | -€188,539 | -€39,204 | -€106,277 | ▼ 171% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 5,831 companies had the same profile as VANLERBERGHE has now. Two years later, 84.6% were still going and 1.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
84.6%
was still going
13.4%
stopped otherwise
1.7%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of VANLERBERGHE itself is lower: 0.1% within 12 months. It rests on far more data about VANLERBERGHE than the profile alone.
Test of the method
The method was tested on the 497,446 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 5,831 companies, not a prediction for VANLERBERGHE. 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.
Latest 10 of 41 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 02-06-2026 | 2026-00135651 | |
| 31-12-2024 | abbreviated format | 17-06-2025 | 2025-00151164 | |
| 31-12-2023 | abbreviated format | 06-06-2024 | 2024-00116060 | |
| 31-12-2022 | abbreviated format | 12-06-2023 | 2023-00123639 | |
| 31-12-2021 | abbreviated format | 02-06-2022 | 2022-20046103 | |
| 31-12-2020 | abbreviated format | 31-05-2021 | 2021-16600008 | |
| 31-12-2019 | abbreviated format | 03-06-2020 | 2020-14500204 | |
| 31-12-2018 | abbreviated format | 04-06-2019 | 2019-16200203 | |
| 31-12-2017 | abbreviated format | 06-06-2018 | 2018-16300354 | |
| 31-12-2016 | abbreviated format | 13-06-2017 | 2017-17000132 |