VANUCO
ActiveSummary
VANUCO has been active since 1990 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €281,202 and a net result of €5,429. Equity remains stable across the filed financial years (±2.1% per year). Its solvency ranks better than 75% of 3,840 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Financials · financial year 2025, full format
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€5,429▲ 48.2%
2024 · €3,663
Working capital
€31,579▼ 35.8%
2024 · €49,223
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 12% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€10,580
2025
Net result€5,429
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€344,419
2025
Equity€281,202
2025
Debt€63,218
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€31,579
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)1.6%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency81.6%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio3.54
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€10,417-€18,781▲ 80.3%€9,900▼ 47.3%€11,810▲ 19.3%€26,840▲ 127%€10,843▼ 59.6%€9,409▼ 13.2%€10,580▲ 12.4%
Net result€698-€1,048▲ 50.2%€2,806within the sector's middle half▲ 168%€4,130within the sector's middle half▲ 47.2%€16,459within the sector's middle half▲ 298%€2,391below the sector's middle half▼ 85.5%€3,663below the sector's middle half▲ 53.2%€5,429within the sector's middle half▲ 48.2%
Equity€245,275-€246,323▲ 0.4%€249,129above the sector's middle half▲ 1.1%€253,259above the sector's middle half▲ 1.7%€269,718above the sector's middle half▲ 6.5%€272,110within the sector's middle half▲ 0.9%€275,773within the sector's middle half▲ 1.3%€281,202within the sector's middle half▲ 2.0%
Total assets€464,665-€426,658▼ 8.2%€405,374within the sector's middle half▼ 5.0%€391,607within the sector's middle half▼ 3.4%€364,958within the sector's middle half▼ 6.8%€375,979below the sector's middle half▲ 3.0%€357,700below the sector's middle half▼ 4.9%€344,419below the sector's middle half▼ 3.7%
Debt€219,390-€180,335▼ 17.8%€156,245▼ 13.4%€138,348▼ 11.5%€95,240▼ 31.2%€103,869▲ 9.1%€81,928▼ 21.1%€63,218▼ 22.8%
Working capital-€8,854-€12,923€17,363within the sector's middle half▲ 34.4%€30,631within the sector's middle half▲ 76.4%€48,576within the sector's middle half▲ 58.6%€49,137within the sector's middle half▲ 1.2%€49,223within the sector's middle half▲ 0.2%€31,579within the sector's middle half▼ 35.8%
Solvency52.8%-57.7%▲ 4.9pp61.5%within the sector's middle half▲ 3.7pp64.7%within the sector's middle half▲ 3.2pp73.9%within the sector's middle half▲ 9.2pp72.4%within the sector's middle half▼ 1.5pp77.1%within the sector's middle half▲ 4.7pp81.6%above the sector's middle half▲ 4.5pp
Current ratio0.91-1.20▲ 0.301.28within the sector's middle half▲ 0.081.51within the sector's middle half▲ 0.222.64within the sector's middle half▲ 1.133.02within the sector's middle half▲ 0.383.19within the sector's middle half▲ 0.173.54above the sector's middle half▲ 0.35
Return on assets (ROA)0.2%-0.2%▲ 0.1pp0.7%within the sector's middle half▲ 0.4pp1.1%below the sector's middle half▲ 0.4pp4.5%within the sector's middle half▲ 3.5pp0.6%within the sector's middle half▼ 3.9pp1.0%within the sector's middle half▲ 0.4pp1.6%within the sector's middle half▲ 0.6pp
above
within
below
the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €344,419
Fixed assets
€300,414 ▲ 5.0%
Current assets
€44,005 ▼ 38.6%
Equity and liabilities €344,419
Equity
€281,202 ▲ 2.0%
Debt
€63,218 ▼ 22.8%
Debt's share of the balance-sheet total falls from 22.9% to 18.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€29,564▲
2024 · €27,384
Cash flow
€24,413▲
2024 · €21,638
Debt to equity
0.22▼
2024 · 0.30
ROE
1.9%▲
2024 · 1.3%
Interest coverage
6.42▲
2024 · 5.09
Debt ≤ 1 year
€12,426▼
2024 · €22,441
Debt > 1 year
€49,753▼
2024 · €58,387
Income taxes
€543▲
2024 · €366
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23,136 | €22,074 | €39,627 | €26,941 | €14,720 | €17,486 | €17,975 | €18,984 | ▲ 5.6% |
| Other operating charges640/8 | - | - | - | €1,109 | €1,125 | €1,394 | €1,353 | €1,452 | ▲ 7.3% |
| Non-recurring operating charges66A | - | - | - | - | - | €12,483 | - | - | - |
| Gross operating margin9900 | €36,178 | €43,493 | €50,631 | €39,860 | €42,684 | €42,206 | €28,737 | €31,016 | ▲ 7.9% |
| Operating profit (loss)9901 | €10,417 | €18,781 | €9,900 | €11,810 | €26,840 | €10,843 | €9,409 | €10,580 | ▲ 12.4% |
| Financial income75/76B | - | - | - | - | €2,486 | €3 | - | - | - |
| Recurring financial income75 | €81 | €1,352 | €833 | - | €2,486 | €3 | - | - | - |
| Financial charges65/66B | - | - | - | €5,747 | €5,321 | €5,889 | €5,380 | €4,608 | ▼ 14.3% |
| Recurring financial charges65 | €8,810 | €15,944 | €6,348 | €5,747 | €5,321 | €5,889 | €5,380 | €4,608 | ▼ 14.3% |
| Profit (loss) for the period before taxes9903 | €1,689 | €4,189 | €4,385 | €6,063 | €24,005 | €4,957 | €4,029 | €5,972 | ▲ 48.2% |
| Income taxes67/77 | €991 | €3,141 | €1,579 | €1,932 | €7,546 | €2,565 | €366 | €543 | ▲ 48.2% |
| Profit (loss) for the period9904 | €698 | €1,048 | €2,806 | €4,130 | €16,459 | €2,391 | €3,663 | €5,429 | ▲ 48.2% |
| Profit (loss) for the period to be appropriated9905 | €698 | €1,048 | €2,806 | €4,130 | €16,459 | €2,391 | €3,663 | €5,429 | ▲ 48.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €464,665 | €426,658 | €405,374 | €391,607 | €364,958 | €375,979 | €357,700 | €344,419 | ▼ 3.7% |
| Fixed assets21/28 | €377,462 | €350,428 | €326,933 | €300,594 | €286,671 | €302,507 | €286,036 | €300,414 | ▲ 5.0% |
| Tangible fixed assets22/27 | €166,318 | €167,397 | €133,902 | €107,563 | €93,640 | €109,476 | €93,005 | €107,383 | ▲ 15.5% |
| Land and buildings22 | - | - | - | €87,463 | €76,294 | €65,125 | €53,956 | €42,788 | ▼ 20.7% |
| Plant, machinery and equipment23 | - | - | - | €3,026 | €2,542 | €3,196 | €1,918 | €5,541 | ▲ 189% |
| Furniture and vehicles24 | - | - | - | €17,074 | €14,804 | €41,155 | €37,130 | €59,055 | ▲ 59.0% |
| Financial fixed assets28 | €211,144 | €183,031 | €193,031 | €193,031 | €193,031 | €193,031 | €193,031 | €193,031 | = |
| Current assets29/58 | €87,203 | €76,230 | €78,441 | €91,013 | €78,287 | €73,472 | €71,664 | €44,005 | ▼ 38.6% |
| Amounts receivable within one year40/41 | €51,784 | €21,951 | €44,781 | €50,799 | €30,440 | €13,460 | - | €2,545 | - |
| Trade receivables40 | - | - | - | €50,799 | €30,440 | €13,460 | - | €2,545 | - |
| Cash at bank and in hand54/58 | €3,356 | €33,081 | €30,184 | €32,754 | €32,152 | €34,011 | €31,649 | €11,460 | ▼ 63.8% |
| Deferred charges and accrued income490/1 | - | - | - | €7,460 | €15,695 | €26,000 | €40,016 | €30,000 | ▼ 25.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €464,665 | €426,658 | €405,374 | €391,607 | €364,958 | €375,979 | €357,700 | €344,419 | ▼ 3.7% |
| Equity10/15 | €245,275 | €246,323 | €249,129 | €253,259 | €269,718 | €272,110 | €275,773 | €281,202 | ▲ 2.0% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €183,275 | €184,323 | €187,129 | €191,259 | €207,718 | €210,110 | €213,773 | €219,202 | ▲ 2.5% |
| Non-distributable reserves130/1 | - | - | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | - | - | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | - | - | - | €185,059 | €201,518 | €203,910 | €207,573 | €213,002 | ▲ 2.6% |
| Amounts payable17/49 | €219,390 | €180,335 | €156,245 | €138,348 | €95,240 | €103,869 | €81,928 | €63,218 | ▼ 22.8% |
| Amounts payable after more than one year17 | €123,334 | €117,029 | €95,167 | €77,965 | €65,530 | €79,179 | €58,387 | €49,753 | ▼ 14.8% |
| Financial debts170/4 | - | - | - | €77,965 | €65,530 | €79,179 | €58,387 | €49,753 | ▼ 14.8% |
| Amounts payable within one year42/48 | €96,057 | €63,307 | €61,079 | €60,383 | €29,710 | €24,335 | €22,441 | €12,426 | ▼ 44.6% |
| Trade debts44 | €56,073 | €50,264 | €42,788 | €36,142 | €10,689 | €4,837 | €4,557 | - | - |
| Suppliers440/4 | - | - | - | €36,142 | €10,689 | €4,837 | €4,557 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €10,175 | €15,635 | €12,169 | €3,107 | €4,029 | ▲ 29.7% |
| Taxes450/3 | - | - | - | €10,175 | €15,635 | €12,169 | €3,107 | €4,029 | ▲ 29.7% |
| Other amounts payable47/48 | - | - | - | €14,065 | €3,387 | €7,329 | €14,778 | €8,397 | ▼ 43.2% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €355 | €1,099 | €1,039 | ▼ 5.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €698 | €1,048 | €2,806 | €4,130 | €16,459 | €2,391 | €3,663 | €5,429 | ▲ 48.2% |
| + Depreciation and write-downs630 | €23,136 | €22,074 | €39,627 | €26,941 | €14,720 | €17,486 | €17,975 | €18,984 | ▲ 5.6% |
| Operating cash flow (approximation) | €23,834 | €23,122 | €42,433 | €31,072 | €31,178 | €19,878 | €21,638 | €24,413 | ▲ 12.8% |
| Investment in fixed assets (approximation) | - | €4,960 | -€16,131 | -€602 | -€797 | -€33,322 | -€1,503 | -€33,363 | ▼ 2,119% |
| Change in cash | - | €29,725 | -€2,897 | €2,570 | -€602 | €1,859 | -€2,362 | -€20,189 | ▼ 755% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 36 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 29-07-2026 | 2026-00359586 |
| 31-12-2024 | abbreviated format | 29-07-2025 | 2025-00335509 |
| 31-12-2023 | abbreviated format | 30-07-2024 | 2024-00324135 |
| 31-12-2022 | micro format | 28-07-2023 | 2023-00299794 |
| 31-12-2021 | micro format | 11-07-2022 | 2022-20176857 |
| 31-12-2020 | micro format | 19-08-2021 | 2021-50600430 |
| 31-12-2019 | micro format | 01-09-2020 | 2020-49300162 |
| 31-12-2018 | micro format | 22-08-2019 | 2019-49300504 |
| 31-12-2017 | micro format | 12-07-2018 | 2018-33000243 |
| 31-12-2016 | micro format | 24-07-2017 | 2017-36100309 |
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Of the 82,397 active companies whose main activity is business and other management consultancy (NACE 70200), figures are known for 53,899. 39,147 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.