Vanshan
ActiveSummary
The computed 12-month bankruptcy probability of Vanshan is 3.9% (moderate). The 2024 annual accounts show equity of €26,559 and a net result of €11,824. Equity is growing by ~41.8% per year across the filed fiscal years. Its solvency ranks better than 63% of 18930 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability94▲+37
Solvency70▲+14
Growth78=
Track record100
Bankruptcy probability, 12 months
3.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity ample (current ratio 1.9 against 1.45 in 2023; short-term debt: 39.7% and cash: 46% of total assets), but 55% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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 2024Solvency, return and age of the figures
Solvency
45%
Return on assets
20%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 10-10-2025, 71 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 · 5 filingsDeviation from the deadline
2025
not confirmed
2024
71 d late
2023
41 d early
2022
50 d late
2021
31 d early
2020
60 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 22 days after the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 52% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
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Financials · fiscal year 2024, micro schema
Equity
€26,559▲ 80.2%
2023 · €14,735
Total assets
€59,054▲ 26.2%
2023 · €46,792
Net result
€11,824▲ 952%
2023 · €1,124
Working capital
€21,147▲ 161%
2023 · €8,117
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€4,437-€9,479€4,275▼ 54.9%€2,129▼ 50.2%€16,626▲ 681%
Net result-€4,465within the sector's middle half-€8,990within the sector's middle half€3,079within the sector's middle half▼ 65.8%€1,124within the sector's middle half▼ 63.5%€11,824within the sector's middle half▲ 952%
Equity€1,535within the sector's middle half-€10,525within the sector's middle half▲ 586%€13,604within the sector's middle half▲ 29.3%€14,735within the sector's middle half▲ 8.3%€26,559within the sector's middle half▲ 80.2%
Total assets€4,958below the sector's middle half-€22,342below the sector's middle half▲ 351%€52,891within the sector's middle half▲ 137%€46,792within the sector's middle half▼ 11.5%€59,054within the sector's middle half▲ 26.2%
Debt€3,423-€11,816▲ 245%€39,286▲ 232%€32,058▼ 18.4%€32,495▲ 1.4%
Working capital€1,826-€8,731▲ 378%€17,914▲ 105%€8,117▼ 54.7%€21,147▲ 161%
Solvency47.1%within the sector's middle half25.7%within the sector's middle half▼ 21.4pp31.5%within the sector's middle half▲ 5.8pp45.0%within the sector's middle half▲ 13.5pp
Staff (FTE)1.1within the sector's middle half-3.2▲ 191%4.4▲ 37.5%3▼ 31.8%3.6▲ 20.0%
above
within
below
the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 681% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €59,054
Fixed assets
€14,478 ▼ 29.5%
Current assets
€44,576 ▲ 69.7%
Equity and liabilities €59,054
Equity
€26,559 ▲ 80.2%
Debt
€32,495 ▲ 1.4%
Debt's share of the balance-sheet total falls from 68.5% to 55.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€22,680▲
2023 · €2,671
Cash flow
€17,878▲
2023 · €1,667
Current ratio
1.90▲
2023 · 1.45
Quick ratio
1.78▲
2023 · 1.02
Debt to equity
1.22▼
2023 · 2.18
ROE
44.5%▲
2023 · 7.6%
ROA
20.0%▲
2023 · 2.4%
Interest coverage
35.23▲
2023 · 4.18
Debt ≤ 1 year
€23,430▲
2023 · €18,144
Debt > 1 year
€9,065▼
2023 · €13,913
Income taxes
€4,158▲
2023 · €365
Staff costs
€76,218▲
2023 · €62,893
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 3.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 26,970 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €28,873 | €46,863 | €62,893 | €76,218 | ▲ 21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €272 | €9,863 | €543 | €6,054 | ▲ 1,015% |
| Other operating charges640/8 | - | €2,836 | €303 | €409 | €3,222 | ▲ 688% |
| Gross operating margin9900 | €9,199 | €41,460 | €61,303 | €65,973 | €102,119 | ▲ 54.8% |
| Operating profit (loss)9901 | -€4,437 | €9,479 | €4,275 | €2,129 | €16,626 | ▲ 681% |
| Financial income75/76B | - | - | €0 | €0 | €0 | ▲ 75.0% |
| Recurring financial income75 | - | - | €0 | €0 | €0 | ▲ 75.0% |
| Financial charges65/66B | - | €489 | - | €640 | €644 | ▲ 0.7% |
| Recurring financial charges65 | €27 | €489 | - | €640 | €644 | ▲ 0.7% |
| Profit (loss) for the period before taxes9903 | -€4,465 | €8,990 | €4,275 | €1,489 | €15,982 | ▲ 973% |
| Income taxes67/77 | - | - | €1,196 | €365 | €4,158 | ▲ 1,040% |
| Profit (loss) for the period9904 | -€4,465 | €8,990 | €3,079 | €1,124 | €11,824 | ▲ 952% |
| Profit (loss) for the period to be appropriated9905 | -€4,465 | €8,990 | €3,079 | €1,124 | €11,824 | ▲ 952% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4,958 | €22,342 | €52,891 | €46,792 | €59,054 | ▲ 26.2% |
| Fixed assets21/28 | - | €1,795 | €19,191 | €20,531 | €14,478 | ▼ 29.5% |
| Tangible fixed assets22/27 | - | €1,795 | €19,191 | €20,531 | €14,478 | ▼ 29.5% |
| Plant, machinery and equipment23 | - | €1,795 | €1,381 | €2,722 | €2,120 | ▼ 22.1% |
| Leasing and similar rights25 | - | - | €17,810 | €17,810 | €12,358 | ▼ 30.6% |
| Current assets29/58 | €4,958 | €20,547 | €33,700 | €26,261 | €44,576 | ▲ 69.7% |
| Stocks and contracts in progress3 | - | €7,652 | €8,627 | €7,736 | €2,884 | ▼ 62.7% |
| Stocks30/36 | - | €7,652 | €8,627 | €7,736 | €2,884 | ▼ 62.7% |
| Amounts receivable within one year40/41 | €3,326 | €1,903 | €1,815 | €5,287 | €12,644 | ▲ 139% |
| Trade receivables40 | - | €1,903 | €1,815 | €297 | €6,518 | ▲ 2,098% |
| Other amounts receivable41 | - | - | - | €4,991 | €6,126 | ▲ 22.7% |
| Cash at bank and in hand54/58 | €870 | €8,354 | €22,853 | €12,568 | €27,170 | ▲ 116% |
| Deferred charges and accrued income490/1 | - | €2,639 | €405 | €670 | €1,878 | ▲ 180% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4,958 | €22,342 | €52,891 | €46,792 | €59,054 | ▲ 26.2% |
| Equity10/15 | €1,535 | €10,525 | €13,604 | €14,735 | €26,559 | ▲ 80.2% |
| Contributions10/11 | - | €6,000 | €6,000 | €6,000 | €6,000 | = |
| Profit (loss) carried forward14 | -€4,465 | €4,525 | €7,604 | €8,735 | €20,559 | ▲ 135% |
| Amounts payable17/49 | €3,423 | €11,816 | €39,286 | €32,058 | €32,495 | ▲ 1.4% |
| Amounts payable after more than one year17 | - | - | €23,501 | €13,913 | €9,065 | ▼ 34.8% |
| Financial debts170/4 | - | - | €23,501 | €13,913 | €9,065 | ▼ 34.8% |
| Amounts payable within one year42/48 | €3,133 | €11,816 | €15,785 | €18,144 | €23,430 | ▲ 29.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €4,848 | - | - |
| Trade debts44 | €1,759 | €851 | €9,332 | €293 | €6,108 | ▲ 1,982% |
| Suppliers440/4 | - | €851 | €9,332 | €293 | €6,108 | ▲ 1,982% |
| Taxes, remuneration and social security45 | - | €9,794 | €6,454 | €13,003 | €17,322 | ▲ 33.2% |
| Taxes450/3 | - | €6,753 | €5,311 | €9,889 | €14,345 | ▲ 45.1% |
| Remuneration and social security454/9 | - | €3,041 | €1,142 | €3,113 | €2,977 | ▼ 4.4% |
| Other amounts payable47/48 | - | €1,171 | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,465 | €8,990 | €3,079 | €1,124 | €11,824 | ▲ 952% |
| + Depreciation and write-downs630 | - | €272 | €9,863 | €543 | €6,054 | ▲ 1,015% |
| Operating cash flow (approximation) | -€4,465 | €9,262 | €12,942 | €1,667 | €17,878 | ▲ 972% |
| Investment in fixed assets (approximation) | - | - | -€27,260 | -€1,883 | €0 | ▲ 100% |
| Change in cash | - | €7,484 | €14,499 | -€10,285 | €14,602 | ▲ 242% |
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
2025
10-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 71 days late
2024
31-12
Financial
Highest result since 2020net €11,824 ▲952%
Operating result €16,626, net result €11,824, both a record.
20-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
19-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 50 days late
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €8,990
Net result €8,990 after one loss-making year.
29-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 60 days late
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, Herentals · 1 establishment unit since 2020
Ground area
527 m²
Building footprint
202 m²
Volume, LiDAR
1,684 m³
Parcel 13011F0267/00G000, Flanders · tallest building 11.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
De Zandloper
since 20202.299.981.351
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13011F0267/00G000 | Flanders | 527 m² | 1 · 202 m² | 11.8 m · 3 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
Food safety, FASFC
1 siteHerentals2.299.981.351
Dual-learning approval
4 live approvalsHulpkelner (vwo)
Hulpkelner duaal (so)
Keukenmedewerker (vwo)
Keukenmedewerker duaal (so)
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Of 20,505 companies in sector 56111 we hold annual accounts for 11,464. 9,290 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
Founded27-02-2020
Fiscal year end31-12
Activities, NACEBEL 2025
56111Full-service restaurants
E-invoicing
Reachable via Peppol
Peppol ID
0208:0744538049
Registered
29-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.