Summary
VANTAGE is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €560,960 and a net result of €31,583. Equity is growing by ~11.8% per year across the filed fiscal years. Its solvency ranks better than 18% of 6155 sector peers (fiscal year 2024). The company has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 6155 sector peers (2024).
NBB · sector comparisonPosition among 6155 sector peers
Solvency
better than 18%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 20-10-2025, 81 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
not confirmed
2024
81 d late
2023
61 d late
2022
31 d early
2021
65 d late
2020
27 d late
2019
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 34 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
In the rankings
#10 oldest company in Zaventem, Finance and insurance sector
Equity
€560,960▲ 6.0%
2023 · €529,378
Net result
€31,583▼ 48.2%
2023 · €60,967
Total assets
€3.3m▼ 4.3%
2023 · €3.5m
Solvency
16.8%▲ 1.6pp
2023 · 15.2%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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
Turnover€306,000€306,000=
Operating result€301,160▲ 602%€13,270▼ 95.6%€83,185▲ 527%€124,297▲ 49.4%€91,737▼ 26.2%
Net result€192,383above the sector's middle half▲ 2,772%-€12,443below the sector's middle half€29,202within the sector's middle half€60,967within the sector's middle half▲ 109%€31,583within the sector's middle half▼ 48.2%
Equity€444,593within the sector's middle half▲ 76.3%€439,209within the sector's middle half▼ 1.2%€468,411within the sector's middle half▲ 6.6%€529,378within the sector's middle half▲ 13.0%€560,960within the sector's middle half▲ 6.0%
Total assets€1.2mwithin the sector's middle half▼ 24.7%€1.9mwithin the sector's middle half▲ 54.5%€3.8mwithin the sector's middle half▲ 98.3%€3.5mwithin the sector's middle half▼ 8.6%€3.3mwithin the sector's middle half▼ 4.3%
Debt€690,631▼ 49.7%€1.4m▲ 100%€3.3m▲ 135%€2.9m▼ 11.9%€2.7m▼ 6.2%
Working capital-€186,592▲ 75.9%-€862,403▼ 362%-€456,858▲ 47.0%-€634,296▼ 38.8%-€691,383▼ 9.0%
Solvency35.7%within the sector's middle half▲ 20.4pp22.8%below the sector's middle half▼ 12.9pp12.3%below the sector's middle half▼ 10.5pp15.2%below the sector's middle half▲ 2.9pp16.8%below the sector's middle half▲ 1.6pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 26% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €3.3m
Fixed assets
€3.3m ▼ 4.0%
Current assets
€18,138 ▼ 44.4%
Equity and liabilities €3.3m
Equity
€560,960 ▲ 6.0%
Provisions
€92,756 ▼ 4.1%
Debt
€2.7m ▼ 6.2%
Debt's share of the balance-sheet total falls from 82.1% to 80.4%. Equity is higher and debt is lower.
Key figures and ratios
ROE
5.6%▼
2023 · 11.5%
ROA
0.9%▼
2023 · 1.7%
Debt ≤ 1 year
€709,521▲
2023 · €666,891
Debt > 1 year
€2.0m▼
2023 · €2.2m
Income taxes
€14,890▲
2023 · €12,940
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | €306,000 | €306,000 | = |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €20,124 | €44,803 | ▲ 123% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €59,545 | €57,875 | €100,160 | €143,433 | €145,469 | ▲ 1.4% |
| Other operating charges640/8 | - | €15,237 | €17,691 | €18,146 | €23,991 | ▲ 32.2% |
| Gross operating margin9900 | €380,401 | €86,382 | €201,035 | €285,876 | €261,197 | ▼ 8.6% |
| Operating profit (loss)9901 | €301,160 | €13,270 | €83,185 | €124,297 | €91,737 | ▼ 26.2% |
| Financial charges65/66B | - | €26,918 | €56,795 | €54,336 | €49,211 | ▼ 9.4% |
| Recurring financial charges65 | €28,094 | €26,918 | €56,795 | €54,336 | €49,211 | ▼ 9.4% |
| Profit (loss) for the period before taxes9903 | €273,067 | -€13,648 | €26,390 | €69,961 | €42,526 | ▼ 39.2% |
| Transfer from deferred taxes780 | - | €1,205 | €2,812 | €3,947 | €3,947 | = |
| Income taxes67/77 | - | - | - | €12,940 | €14,890 | ▲ 15.1% |
| Profit (loss) for the period9904 | €192,383 | -€12,443 | €29,202 | €60,967 | €31,583 | ▼ 48.2% |
| Transfer from tax-exempt reserves789 | - | €3,615 | €8,437 | €11,840 | €11,840 | = |
| Profit (loss) for the period to be appropriated9905 | -€51,267 | -€8,828 | €37,639 | €72,807 | €43,423 | ▼ 40.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €1.9m | €3.8m | €3.5m | €3.3m | ▼ 4.3% |
| Fixed assets21/28 | €1.1m | €1.7m | €3.5m | €3.5m | €3.3m | ▼ 4.0% |
| Tangible fixed assets22/27 | €1.1m | €1.7m | €3.5m | €3.5m | €3.3m | ▼ 4.0% |
| Land and buildings22 | - | €1.1m | €3.5m | €3.5m | €3.3m | ▼ 3.9% |
| Plant, machinery and equipment23 | - | - | €3,034 | €2,384 | €1,734 | ▼ 27.3% |
| Assets under construction and advance payments27 | - | €605,038 | - | - | - | - |
| Current assets29/58 | €101,538 | €233,933 | €330,855 | €32,594 | €18,138 | ▼ 44.4% |
| Amounts receivable within one year40/41 | €31,775 | €206,782 | €4,307 | €11,366 | €5,574 | ▼ 51.0% |
| Trade receivables40 | - | €206,782 | €307 | - | - | - |
| Other amounts receivable41 | - | - | €4,000 | €11,366 | €5,574 | ▼ 51.0% |
| Cash at bank and in hand54/58 | €68,569 | €27,151 | €326,548 | €21,228 | €12,564 | ▼ 40.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €1.9m | €3.8m | €3.5m | €3.3m | ▼ 4.3% |
| Equity10/15 | €444,593 | €439,209 | €468,411 | €529,378 | €560,960 | ▲ 6.0% |
| Contributions10/11 | - | €31,000 | €31,000 | €31,000 | €31,000 | = |
| Reserves13 | €413,593 | €417,037 | €408,599 | €396,759 | €384,919 | ▼ 3.0% |
| Non-distributable reserves130/1 | - | €3,100 | €3,100 | €3,100 | €3,100 | = |
| Reserves not available under the articles1311 | - | €3,100 | €3,100 | €3,100 | €3,100 | = |
| Tax-exempt reserves132 | - | €310,385 | €301,948 | €290,108 | €278,268 | ▼ 4.1% |
| Distributable reserves133 | - | €103,551 | €103,551 | €103,551 | €103,551 | = |
| Profit (loss) carried forward14 | - | -€8,828 | €28,812 | €101,619 | €145,041 | ▲ 42.7% |
| Provisions and deferred taxes16 | €111,725 | €103,462 | €100,649 | €96,703 | €92,756 | ▼ 4.1% |
| Deferred taxes168 | - | €103,462 | €100,649 | €96,703 | €92,756 | ▼ 4.1% |
| Amounts payable17/49 | €690,631 | €1.4m | €3.3m | €2.9m | €2.7m | ▼ 6.2% |
| Amounts payable after more than one year17 | €402,500 | €287,500 | €2.5m | €2.2m | €2.0m | ▼ 9.7% |
| Financial debts170/4 | - | €287,500 | €2.5m | €2.2m | €2.0m | ▼ 9.7% |
| Amounts payable within one year42/48 | €288,130 | €1.1m | €787,713 | €666,891 | €709,521 | ▲ 6.4% |
| Current portion of amounts payable after more than one year42 | - | €115,000 | €263,535 | €266,014 | €211,263 | ▼ 20.6% |
| Trade debts44 | €104,099 | €174,184 | €114,867 | €7,619 | €0 | ▼ 100% |
| Suppliers440/4 | - | €174,184 | €114,867 | €7,619 | €0 | ▼ 100% |
| Advances received on contracts in progress46 | - | - | - | - | €5,000 | - |
| Taxes, remuneration and social security45 | - | €1,504 | €16,053 | - | - | - |
| Taxes450/3 | - | €1,504 | €16,053 | - | - | - |
| Other amounts payable47/48 | - | €805,648 | €393,258 | €393,258 | €493,258 | ▲ 25.4% |
| Accrued charges and deferred income492/3 | - | - | - | €12,412 | €2,338 | ▼ 81.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €192,383 | -€12,443 | €29,202 | €60,967 | €31,583 | ▼ 48.2% |
| + Depreciation and write-downs630 | €59,545 | €57,875 | €100,160 | €143,433 | €145,469 | ▲ 1.4% |
| Operating cash flow (approximation) | €251,928 | €45,432 | €129,362 | €204,400 | €177,051 | ▼ 13.4% |
| Investment in fixed assets (approximation) | - | -€605,038 | -€1.9m | -€112,103 | -€8,854 | ▲ 92.1% |
| Change in cash | - | -€41,418 | €299,397 | -€305,320 | -€8,664 | ▲ 97.2% |
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
20-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 81 days late
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 61 days late
2023
31-12
Financial
Equity above €500,000Eq €529,378 ▲13%
2 profitable years in a row build equity to €529,378.
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €29,202
Net result €29,202 after one loss-making year.
04-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 65 days late
2021
31-12
Financial
Weakest financial yearnet -€12,443
Net result drops to -€12,443, the lowest in the series; recovery starts the following year.
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 27 days late
2020
31-12
Financial
Highest result since 2018net €192,383 ▲2,772%
Operating result €301,160, net result €192,383, both a record.
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
10 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, Zaventem · 1 establishment unit since 1994
Ground area
2,339 m²
Parcel 23078A0030/00N003, Flanders. Linked by address, not a title deed.
1 establishment unit
Karenberg 2D, 1932 Zaventem
since 19942.067.637.053
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23078A0030/00N003indicative | Flanders | 2,339 m² | - | - |
Linked by address, not proof of ownership
Good to know
0 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 ownerChain of control
- ELOY MANAGEMENT
- E&S HOLDING
- VANTAGE
Highest known parent: ELOY MANAGEMENT. The sources do not say who stands above it.
Owners 1
- E&S HOLDINGparent100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,773. 13,544 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
Founded10-06-1994
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0452867759
Also
9925:BE0452867759
Registered
23-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.