VANO
ActiveSummary
VANO has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-6k) and a net result of €-21k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 12% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency13▼-28
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.37 against 0.8 in 2024; short-term debt: 112% and cash: 40.2% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Five 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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
-12%
Return on assets
-39.9%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-6k
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 01-06-2026, 60 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
60 d early
2024
27 d late
2023
50 d early
2022
54 d early
2021
48 d early
2020
45 d early
2019
57 d early
← 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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€-6k
2024 · €15k
2018: €12k
2019: €29k▲ +142% vs 2018
2020: €66k▲ +124% vs 2019
2021: €69k▲ +5.3% vs 2020highest in 8 years
2022: €64k▼ -7.7% vs 2021
2023: €33k▼ -48.5% vs 2022
2024: €15k▼ -54.8% vs 2023
2025: €-6k▼ -143% vs 2024lowest in 8 years
2018 → 2025
Total assets
€53k▼ 41.4%
2024 · €91k
2018: €154k
2019: €181k▲ +17.4% vs 2018highest in 8 years
2020: €155k▼ -14.2% vs 2019
2021: €145k▼ -6.1% vs 2020
2022: €108k▼ -25.4% vs 2021
2023: €104k▼ -4.6% vs 2022
2024: €91k▼ -11.7% vs 2023
2025: €53k▼ -41.4% vs 2024lowest in 8 years
2018 → 2025
Net result
€-21k▼ 18.3%
2024 · €-18k
2018: €10k
2019: €17k▲ +79.3% vs 2018
2020: €36k▲ +112% vs 2019highest in 8 years
2021: €3k▼ -90.5% vs 2020
2022: €-5k▼ -254% vs 2021
2023: €-12k▼ -134% vs 2022
2024: €-18k▼ -45.4% vs 2023
2025: €-21k▼ -18.3% vs 2024lowest in 8 years
2018 → 2025
Working capital
€-37k▼ 152%
2024 · €-15k
2018: €-52klowest in 8 years
2019: €-18k▲ +65.0% vs 2018
2020: €11k▲ +163% vs 2019
2021: €20k▲ +77.6% vs 2020
2022: €37k▲ +83.7% vs 2021highest in 8 years
2023: €2k▼ -94.9% vs 2022
2024: €-15k▼ -896% vs 2023
2025: €-37k▼ -152% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€69k-€64k▼ 7.7%€33k▼ 48.5%€15k▼ 54.8%€-6k
2021: €69khighest in 5 years
2022: €64k▼ -7.7% vs 2021
2023: €33k▼ -48.5% vs 2022
2024: €15k▼ -54.8% vs 2023
2025: €-6k▼ -143% vs 2024lowest in 5 years
Operating result€-681-€-6k▼ 792%€-12k▼ 103%€-18k▼ 45.7%€-21k▼ 17.3%
2021: €-681highest in 5 years
2022: €-6k▼ -792% vs 2021
2023: €-12k▼ -103% vs 2022
2024: €-18k▼ -45.7% vs 2023
2025: €-21k▼ -17.3% vs 2024lowest in 5 years
Net result€3k-€-5k€-12k▼ 134%€-18k▼ 45.4%€-21k▼ 18.3%
2021: €3khighest in 5 years
2022: €-5k▼ -254% vs 2021
2023: €-12k▼ -134% vs 2022
2024: €-18k▼ -45.4% vs 2023
2025: €-21k▼ -18.3% vs 2024lowest in 5 years
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 €21k in 2025 against €18k 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
Assets €53k
Fixed assets
€31k ▲ 2.9%
Current assets
€22k ▼ 63.3%
Key figures and ratios
EBITDA
€-20k▼
2024 · €-17k
Cash flow
€-20k▼
2024 · €-17k
Solvency
-12.0%▼
2024 · 16.3%
Current ratio
0.37▼
2024 · 0.80
Debt to equity
-9.32▼
2024 · 5.13
ROA
-39.9%▼
2024 · -19.7%
Interest coverage
-71.83▲
2024 · -156.65
Debt
€60k▼
2024 · €76k
Debt ≤ 1 year
€60k▼
2024 · €76k
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 · 40 lines
Balance sheet
Code20242025
Assets
Total assets20/58€91k€53k▼
Fixed assets21/28€30k€31k▲
Tangible fixed assets22/27€30k€31k▲
Land and buildings22€29k€29k▼
Plant, machinery and equipment23€986€2k▲
Financial fixed assets28€38€38=
Current assets29/58€61k€22k▼
Amounts receivable within one year40/41€60k-
Trade receivables40€9k-
Other amounts receivable41€51k-
Cash at bank and in hand54/58€1k€21k▲
Deferred charges and accrued income490/1€50€966▲
Equity and liabilities
Total equity and liabilities10/49€91k€53k▼
Equity10/15€15k€-6k▼
Reserves13€51k€51k=
Tax-exempt reserves132€2k€2k=
Distributable reserves133€48k€48k=
Profit (loss) carried forward14€-36k€-57k▼
Amounts payable17/49€76k€60k▼
Amounts payable within one year42/48€76k€60k▼
Trade debts44€1k€2k▲
Suppliers440/4€1k€2k▲
Taxes, remuneration and social security45-€280
Taxes450/3-€280
Other amounts payable47/48€75k€58k▼
Accrued charges and deferred income492/3€387-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€925€1k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€7k
Other operating charges640/8€3k€4k▲
Gross operating margin9900€-14k€-10k▲
Operating profit (loss)9901€-18k€-21k▼
Financial income75/76B€20€1▼
Recurring financial income75€20€1▼
Financial charges65/66B€109€278▲
Recurring financial charges65€109€278▲
Profit (loss) for the period before taxes9903€-18k€-21k▼
Profit (loss) for the period9904€-18k€-21k▼
Profit (loss) for the period to be appropriated9905€-18k€-21k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-36k€-57k▼
Profit (loss) brought forward from the previous period14P€-18k€-36k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €19k | - | - | - | - |
| Remuneration, social security and pensions62 | €56k | €2k | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14k | €7k | €919 | €925 | €1k | ▲ 20.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €7k | - |
| Other operating charges640/8 | €4k | €2k | €3k | €3k | €4k | ▲ 2.9% |
| Gross operating margin9900 | €72k | €5k | €-8k | €-14k | €-10k | ▲ 28.1% |
| Operating profit (loss)9901 | €-681 | €-6k | €-12k | €-18k | €-21k | ▼ 17.3% |
| Financial income75/76B | €50 | €705 | €18 | €20 | €1 | ▼ 96.3% |
| Recurring financial income75 | €50 | €705 | €18 | €20 | €1 | ▼ 96.3% |
| Financial charges65/66B | €445 | €103 | €106 | €109 | €278 | ▲ 156% |
| Recurring financial charges65 | €445 | €103 | €106 | €109 | €278 | ▲ 156% |
| Profit (loss) for the period before taxes9903 | €-1k | €-5k | €-12k | €-18k | €-21k | ▼ 18.3% |
| Income taxes67/77 | €-5k | €-166 | - | - | - | - |
| Profit (loss) for the period9904 | €3k | €-5k | €-12k | €-18k | €-21k | ▼ 18.3% |
| Profit (loss) for the period to be appropriated9905 | €3k | €-5k | €-12k | €-18k | €-21k | ▼ 18.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €145k | €108k | €104k | €91k | €53k | ▼ 41.4% |
| Fixed assets21/28 | €49k | €27k | €31k | €30k | €31k | ▲ 2.9% |
| Tangible fixed assets22/27 | €49k | €27k | €31k | €30k | €31k | ▲ 2.9% |
| Land and buildings22 | €25k | €25k | €30k | €29k | €29k | ▼ 1.5% |
| Plant, machinery and equipment23 | €18k | €2k | €1k | €986 | €2k | ▲ 134% |
| Furniture and vehicles24 | €6k | - | - | - | - | - |
| Financial fixed assets28 | €38 | - | - | €38 | €38 | = |
| Current assets29/58 | €96k | €81k | €72k | €61k | €22k | ▼ 63.3% |
| Amounts receivable within one year40/41 | €60k | €81k | €71k | €60k | - | - |
| Trade receivables40 | €69 | €30k | €20k | €9k | - | - |
| Other amounts receivable41 | €60k | €50k | €51k | €51k | - | - |
| Current investments50/53 | - | €38 | €38 | - | - | - |
| Cash at bank and in hand54/58 | €36k | €755 | €2k | €1k | €21k | ▲ 1,651% |
| Deferred charges and accrued income490/1 | - | - | - | €50 | €966 | ▲ 1,832% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €145k | €108k | €104k | €91k | €53k | ▼ 41.4% |
| Equity10/15 | €69k | €64k | €33k | €15k | €-6k | ▼ 143% |
| Contributions10/11 | €19k | €19k | - | - | - | - |
| Reserves13 | €51k | €51k | €51k | €51k | €51k | = |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Tax-exempt reserves132 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €46k | €46k | €48k | €48k | €48k | = |
| Profit (loss) carried forward14 | - | €-5k | €-18k | €-36k | €-57k | ▼ 59.7% |
| Amounts payable17/49 | €76k | €45k | €71k | €76k | €60k | ▼ 21.6% |
| Amounts payable within one year42/48 | €76k | €45k | €71k | €76k | €60k | ▼ 21.2% |
| Trade debts44 | €75k | €35k | €2k | €1k | €2k | ▲ 32.5% |
| Suppliers440/4 | €75k | €35k | €2k | €1k | €2k | ▲ 32.5% |
| Taxes, remuneration and social security45 | €2k | €1k | - | - | €280 | - |
| Taxes450/3 | €2k | €1k | - | - | €280 | - |
| Other amounts payable47/48 | - | €8k | €69k | €75k | €58k | ▼ 22.6% |
| Accrued charges and deferred income492/3 | - | - | - | €387 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3k | €-5k | €-12k | €-18k | €-21k | ▼ 18.3% |
| + Depreciation and write-downs630 | €14k | €7k | €919 | €925 | €1k | ▲ 20.1% |
| Operating cash flow (approximation) | €17k | €2k | €-11k | €-17k | €-20k | ▼ 18.2% |
| Investment in fixed assets (approximation) | - | €15k | €-5k | €-38 | €-2k | ▼ 5,063% |
| Change in cash | - | €-35k | €1k | €-535 | €20k | ▲ 3,888% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
01-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-21k
Net result drops to €-21k, the lowest in the series.
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
11-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
07-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
13-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
16-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €36k ▲112%
Operating result €63k, net result €36k, both a record.
04-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
24-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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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, Dendermonde · 1 establishment unit since 1983
Ground area
1,131 m²
Building footprint
167 m²
Volume, LiDAR
600 m³
Parcel 42002B0910/00D000, Flanders · tallest building 5.9 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Kloosterstraat (BAA) 122, 9200 Dendermonde
since 19832.245.480.417
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42002B0910/00D000 | Flanders | 1,131 m² | 1 · 167 m² | 5.9 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Dual-learning approval
1 endedBrood- en banketbakkerij duaal (so)
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Of 11,748 companies in sector 68310 we hold annual accounts for 6,905. 3,505 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded03-02-1983
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
23410Manufacture of ceramic household and ornamental articles
23450Manufacture of other non-metallic mineral products
47690Retail sale of other cultural and recreation goods
71209Other technical testing and analysis
85599Other education
90111Literary creation
Scores and ratios are computed by Checked and are not a credit decision.