VANWIX
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 60 days after the deadline Filed on 29 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00530063.
Annual accounts 2025 filed on 29-09-2026 at the NBB all 16 filings
Turnover
≈ €120,000
Estimated: probably between €83,000 and €160,000
Total assets
€559,140▼ 7.1%
2024 · €601,767
Net result
€10,659
2024 · -€50,879
Working capital
-€24,908▼ 95.3%
2024 · -€12,752
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€21,102
2025
20182025
Net result
€10,659
2025
lowest quarter of the sector
20182025
Equity
€207,415
▲ 5.4%
2025
middle half of the sector
20182025
Total assets
€559,140
▼ 7.1%
2025
highest quarter of the sector
20182025
Debt
€351,725
▼ 12.5%
2025
20182025
Working capital
-€24,908
▼ 95.3%
2025
lowest quarter of the sector
20182025
Solvency
37.1%
▲ 4.4pp
2025
middle half of the sector
20182025
Current ratio
0.79
▼ 0.12
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
1.9%
▲ 10.4pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€54,149-€45,594▼ 15.8%€77,016▲ 68.9%€84,036▲ 9.1%€105,748▲ 25.8%€47,884▼ 54.7%-€39,648€21,102
Net result€27,982-€25,505▼ 8.9%€46,259within the sector's middle half▲ 81.4%€50,183within the sector's middle half▲ 8.5%€66,871within the sector's middle half▲ 33.3%€25,086within the sector's middle half▼ 62.5%-€50,879below the sector's middle half€10,659below the sector's middle half
Equity€95,303-€119,996▲ 25.9%€156,972within the sector's middle half▲ 30.8%€199,489within the sector's middle half▲ 27.1%€251,364within the sector's middle half▲ 26.0%€247,635within the sector's middle half▼ 1.5%€196,757within the sector's middle half▼ 20.5%€207,415within the sector's middle half▲ 5.4%
Total assets€556,719-€631,562▲ 13.4%€652,423above the sector's middle half▲ 3.3%€664,032above the sector's middle half▲ 1.8%€701,178above the sector's middle half▲ 5.6%€684,787above the sector's middle half▼ 2.3%€601,767above the sector's middle half▼ 12.1%€559,140above the sector's middle half▼ 7.1%
Debt€458,546-€508,696▲ 10.9%€492,581▼ 3.2%€461,673▼ 6.3%€446,943▼ 3.2%€434,281▼ 2.8%€402,140▼ 7.4%€351,725▼ 12.5%
Working capital-€64,625--€31,235▲ 51.7%€5,206below the sector's middle half€18,456within the sector's middle half▲ 254%€62,855within the sector's middle half▲ 241%€35,908within the sector's middle half▼ 42.9%-€12,752below the sector's middle half-€24,908below the sector's middle half▼ 95.3%
Solvency17.1%-19.0%▲ 1.9pp24.1%below the sector's middle half▲ 5.1pp30.0%within the sector's middle half▲ 6.0pp35.8%within the sector's middle half▲ 5.8pp36.2%within the sector's middle half▲ 0.3pp32.7%within the sector's middle half▼ 3.5pp37.1%within the sector's middle half▲ 4.4pp
Current ratio0.54-0.71▲ 0.171.05below the sector's middle half▲ 0.341.22below the sector's middle half▲ 0.171.59within the sector's middle half▲ 0.381.28within the sector's middle half▼ 0.320.90below the sector's middle half▼ 0.370.79below the sector's middle half▼ 0.12
Return on assets (ROA)5.0%-4.0%▼ 1.0pp7.1%within the sector's middle half▲ 3.1pp7.6%within the sector's middle half▲ 0.5pp9.5%within the sector's middle half▲ 2.0pp3.7%below the sector's middle half▼ 5.9pp-8.5%below the sector's middle half▼ 12.1pp1.9%below the sector's middle half▲ 10.4pp
Staff (FTE)0.5-0.5=1.2within the sector's middle half▲ 140%1.5▲ 25.0%1.8▲ 20.0%2.3▲ 27.8%2.5▲ 8.7%
above
within
below
The sector band is the middle half of the companies in Legal and accounting activities (NACE 69). 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 profit of €21,102, after a loss of €39,648 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €559,140
Fixed assets
€466,945 ▼ 3.0%
Current assets
€92,195 ▼ 23.4%
Equity and liabilities €559,140
Equity
€207,415 ▲ 5.4%
Provisions
€0 ▼ 100%
Debt
€351,725 ▼ 12.5%
Debt's share of the balance-sheet total falls from 66.8% to 62.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€46,903▲
2024 · -€13,758
Cash flow
€36,459▲
2024 · -€24,989
Debt to equity
1.70▼
2024 · 2.04
ROE
5.1%▲
2024 · -25.9%
Interest coverage
4.48▲
2024 · -1.22
Debt ≤ 1 year
€117,104▼
2024 · €133,157
Debt > 1 year
€234,534▼
2024 · €268,529
Staff costs
€213▼
2024 · €472
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 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 2 | 2 | 3 | - |
| full-time | 1 | 1 | 1 | - |
| part-time | 1 | 1 | 2 | - |
| in full-time equivalents | 1.5 | 1.8 | 2.2 | - |
| Average over the year, in full-time equivalents | 1.5 | 1.8 | 2.3 | 2.1 |
| On a permanent contract | 2 | 2 | 3 | - |
| Joined | - | - | 3 | 0 |
| Left | - | - | 2 | 3 |
Source: social balance sheet in the 2021 to 2024 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €50,815 | €9,157 | €25,312 | €20,891 | €11,383 |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €30,143 | €36,633 | €38,001 | €25,890 | €25,800 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 4 entries · €2,121 awarded · €2,121 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €39 | €39 |
| 2024 | 1 | €573 | €573 |
| 2023 | 1 | €1,199 | €1,199 |
| 2022 | 1 | €310 | €310 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €59,179 | €60,086 | €108,571 | €472 | €213 | ▼ 54.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,238 | €19,692 | €26,261 | €30,143 | €36,633 | €38,001 | €25,890 | €25,800 | ▼ 0.3% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | - | - | - | -€2,870 | - |
| Other operating charges640/8 | - | - | - | €1,171 | €1,252 | €5,814 | €1,325 | €2,700 | ▲ 104% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €33,585 | €0 | ▼ 100% |
| Gross operating margin9900 | €90,860 | €84,423 | €146,234 | €174,529 | €203,719 | €200,270 | €21,625 | €46,945 | ▲ 117% |
| Operating profit (loss)9901 | €54,149 | €45,594 | €77,016 | €84,036 | €105,748 | €47,884 | -€39,648 | €21,102 | - |
| Financial income75/76B | - | - | - | €1,001 | €1,104 | €751 | €0 | €20 | - |
| Recurring financial income75 | €849 | €1,168 | €914 | €1,001 | €1,104 | €751 | €0 | €20 | - |
| Financial charges65/66B | - | - | - | €14,735 | €13,273 | €11,670 | €11,231 | €10,464 | ▼ 6.8% |
| Recurring financial charges65 | €17,046 | €15,283 | €16,118 | €14,735 | €13,273 | €11,520 | €11,231 | €10,464 | ▼ 6.8% |
| Non-recurring financial charges66B | - | - | - | - | - | €150 | €0 | - | - |
| Profit (loss) for the period before taxes9903 | €37,952 | €31,478 | €61,813 | €70,302 | €93,579 | €36,964 | -€50,879 | €10,659 | - |
| Income taxes67/77 | €9,970 | €5,973 | €15,554 | €20,119 | €26,708 | €11,878 | €0 | - | - |
| Profit (loss) for the period9904 | €27,982 | €25,505 | €46,259 | €50,183 | €66,871 | €25,086 | -€50,879 | €10,659 | - |
| Profit (loss) for the period to be appropriated9905 | €27,982 | €25,505 | €46,259 | €50,183 | €66,871 | €25,086 | -€50,879 | €10,659 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €556,719 | €631,562 | €652,423 | €664,032 | €701,178 | €684,787 | €601,767 | €559,140 | ▼ 7.1% |
| Fixed assets21/28 | €481,813 | €556,214 | €539,440 | €560,112 | €532,635 | €519,946 | €481,362 | €466,945 | ▼ 3.0% |
| Tangible fixed assets22/27 | €481,813 | €556,214 | €539,440 | €560,112 | €532,635 | €519,946 | €481,362 | €466,945 | ▼ 3.0% |
| Land and buildings22 | - | - | - | €444,750 | €431,305 | €430,462 | €416,017 | €401,572 | ▼ 3.5% |
| Plant, machinery and equipment23 | - | - | - | €83,191 | €75,697 | €67,051 | €64,882 | €64,888 | = |
| Furniture and vehicles24 | - | - | - | €32,171 | €25,633 | €22,433 | €463 | €485 | ▲ 4.7% |
| Current assets29/58 | €74,906 | €75,348 | €112,983 | €103,920 | €168,542 | €164,841 | €120,404 | €92,195 | ▼ 23.4% |
| Amounts receivable after more than one year29 | - | - | - | €55,169 | €62,169 | €48,123 | €0 | - | - |
| Other amounts receivable291 | - | - | - | €55,169 | €62,169 | €48,123 | €0 | - | - |
| Amounts receivable within one year40/41 | €42,217 | €29,838 | €46,912 | €37,754 | €72,826 | €64,806 | €92,965 | €71,952 | ▼ 22.6% |
| Trade receivables40 | - | - | - | €36,521 | €65,021 | €56,805 | €42,954 | €10,081 | ▼ 76.5% |
| Other amounts receivable41 | - | - | - | €1,233 | €7,806 | €8,001 | €50,010 | €61,870 | ▲ 23.7% |
| Cash at bank and in hand54/58 | €1,019 | €2,334 | €9,991 | €10,304 | €31,008 | €35,055 | €27,440 | €17,643 | ▼ 35.7% |
| Deferred charges and accrued income490/1 | - | - | - | €693 | €2,539 | €16,856 | €0 | €2,601 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €556,719 | €631,562 | €652,423 | €664,032 | €701,178 | €684,787 | €601,767 | €559,140 | ▼ 7.1% |
| Equity10/15 | €95,303 | €119,996 | €156,972 | €199,489 | €251,364 | €247,635 | €196,757 | €207,415 | ▲ 5.4% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €17,256 | €17,256 | = |
| Reserves13 | €52,804 | €77,498 | €114,474 | €157,790 | €210,466 | €206,737 | €191,798 | €191,798 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €155,930 | €208,606 | €206,737 | €191,798 | €191,798 | = |
| Profit (loss) carried forward14 | €23,898 | €23,898 | €23,898 | €23,098 | €22,298 | €22,298 | -€12,298 | -€1,639 | ▲ 86.7% |
| Provisions and deferred taxes16 | €2,870 | €2,870 | €2,870 | €2,870 | €2,870 | €2,870 | €2,870 | €0 | ▼ 100% |
| Provisions for liabilities and charges160/5 | - | - | - | €2,870 | €2,870 | €2,870 | €2,870 | €0 | ▼ 100% |
| Pensions and similar obligations160 | - | - | - | €2,870 | €2,870 | €2,870 | €2,870 | €0 | ▼ 100% |
| Amounts payable17/49 | €458,546 | €508,696 | €492,581 | €461,673 | €446,943 | €434,281 | €402,140 | €351,725 | ▼ 12.5% |
| Amounts payable after more than one year17 | €319,015 | €402,113 | €384,804 | €376,209 | €341,256 | €305,349 | €268,529 | €234,534 | ▼ 12.7% |
| Financial debts170/4 | - | - | - | €376,209 | €341,256 | €305,349 | €268,529 | €234,534 | ▼ 12.7% |
| Amounts payable within one year42/48 | €139,531 | €106,582 | €107,777 | €85,464 | €105,688 | €128,932 | €133,157 | €117,104 | ▼ 12.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €39,231 | €37,190 | €45,816 | €39,896 | €35,695 | ▼ 10.5% |
| Trade debts44 | €7,485 | €6,056 | - | €8,786 | €1,513 | €12,929 | €0 | €3,227 | - |
| Suppliers440/4 | - | - | - | €8,786 | €1,513 | €12,929 | €0 | €3,227 | - |
| Taxes, remuneration and social security45 | - | - | - | €30,363 | €52,939 | €43,021 | €15,810 | €6,942 | ▼ 56.1% |
| Taxes450/3 | - | - | - | €19,922 | €42,747 | €25,532 | €15,810 | €6,942 | ▼ 56.1% |
| Remuneration and social security454/9 | - | - | - | €10,441 | €10,192 | €17,490 | €0 | - | - |
| Other amounts payable47/48 | - | - | - | €7,084 | €14,046 | €27,166 | €77,451 | €71,239 | ▼ 8.0% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €454 | €87 | ▼ 80.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €27,982 | €25,505 | €46,259 | €50,183 | €66,871 | €25,086 | -€50,879 | €10,659 | - |
| + Depreciation and write-downs630 | €17,238 | €19,692 | €26,261 | €30,143 | €36,633 | €38,001 | €25,890 | €25,800 | ▼ 0.3% |
| Operating cash flow (approximation) | €45,220 | €45,197 | €72,521 | €80,326 | €103,505 | €63,087 | -€24,989 | €36,459 | - |
| Investment in fixed assets (approximation) | - | -€94,093 | -€9,487 | -€50,815 | -€9,157 | -€25,312 | €12,694 | -€11,383 | - |
| Change in cash | - | €1,314 | €7,658 | €313 | €20,704 | €4,047 | -€7,615 | -€9,797 | ▼ 28.6% |
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, 6,049 companies had the same profile as VANWIX has now. Two years later, 95.9% were still going and 0.4% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
95.9%
was still going
3.6%
stopped otherwise
0.4%
went bankrupt
That fits the bankruptcy probability of VANWIX itself: 0.1% within 12 months.
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 6,049 companies, not a prediction for VANWIX. 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 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-09-2026 | 2026-00530063 | |
| 31-12-2024 | micro format | 29-08-2025 | 2025-00431784 | |
| 31-12-2023 | micro format | 28-06-2024 | 2024-00175230 | |
| 31-12-2022 | micro format | 01-09-2023 | 2023-00407161 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20370731 | |
| 31-12-2020 | micro format | 03-08-2021 | 2021-45500212 | |
| 31-12-2019 | micro format | 07-09-2020 | 2020-51100283 | |
| 31-12-2018 | micro format | 12-08-2019 | 2019-45200026 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-55100471 | |
| 31-12-2016 | micro format | 29-08-2017 | 2017-49100074 |