VAPAX
VAPAX is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €3.53M and a net result of €1k. Equity remains stable across the filed fiscal years (±0.8% per year). Its solvency ranks better than 87% of 85 sector peers (fiscal year 2025). The company has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals.
| Equity | €3.53M |
| Net result | €1k |
| Better than sector | 87% |
| Active | 22 yrs |
Mixed profile: strong on solvency, weaker on health.
This is a financial institution (bank, insurer or financial holding). Our bankruptcy model is trained on ordinary trading and manufacturing companies; a bank balance sheet falls outside that scope. We therefore show no bankruptcy probability rather than a misleading figure.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 72.6% | 22.6% | |
| Net result | €1k | €86k | |
| Equity | €3.53M | €116k | |
| Gross operating margin | €132k | €469k | |
| Total assets | €4.86M | €1.21M |
| Fiscal year | 2025 |
|---|---|
| Revenue | n/a |
| EBITDA | n/a |
| Net profit | €1k |
| Cash flow | n/a |
| Staff costs | - |
| Income taxes | €11k |
| Dividends | - |
| Total assets | €4.86M |
| Equity | €3.53M |
| Debt | €1.33M |
| of which ≤ 1y | €234k |
| of which > 1y | €1.09M |
| Working capital | n/a |
| Employees (FTE) | - |
| 2025 | |
|---|---|
| Current ratio | n/a |
| Quick ratio | n/a |
| Working capital ratio | n/a |
| Solvency | 72.6% |
| Debt / equity | n/a |
| Long-term debt ratio | n/a |
| Interest coverage | n/a |
| Gross margin | n/a |
| Net margin | n/a |
| ROA | 0.0% |
| ROE | 0.0% |
| EBITDA margin | n/a |
| Days sales outstanding | n/a |
| Days payable outstanding | n/a |
| Inventory turnover | n/a |
| Days inventory (DSI) | n/a |
| Line item | Code | 2025 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €4.86M |
| Fixed assets | 21/28 | €4.15M |
| Tangible fixed assets | 22/27 | €4.11M |
| Financial fixed assets | 28 | €42k |
| Current assets | 29/58 | €710k |
| Amounts receivable within one year | 40/41 | €128k |
| Investments | 50/53 | €61k |
| Cash & bank | 54/58 | €32k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €4.86M |
| Equity | 10/15 | €3.53M |
| Contributions / capital | 10/11 | €319k |
| Reserves | 13 | €590k |
| Provisions & deferred taxes | 16 | €6k |
| Amounts payable | 17/49 | €1.33M |
| Amounts payable after one year | 17 | €1.09M |
| Amounts payable within one year | 42/48 | €234k |
| Trade debts payable within one year | 44 | €16k |
| Income statement | ||
| Gross operating margin | 9900 | €132k |
| Operating result | 9901 | €-10k |
| Financial income | 75 | €31k |
| Financial charges | 65 | €9k |
| Result before taxes | 9903 | €12k |
| Income taxes | 67/77 | €11k |
| Net result for the period | 9904 | €1k |
| Result to be appropriated | 9905 | €3k |
-
Current28-01-2021 → present
-
Current28-01-2021 → present
Historic, not recently confirmed (1)
-
Not recently confirmedlast confirmed in an act from 2015
Former directors (2)
-
Former- → 15-01-2021
-
Former01-01-2015 → 31-12-2016
2 events
- 31-12-2016 Resigned· Manager
- 01-01-2015 Appointed· Manager
| NACE primary | 66220 |
| Legal form | Private limited company(610) |
| Incorporation | 13-11-2003 |
| Status | Active |
| Postal code | 2018 |
Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11810K1893/00H000 | Flanders | 488 m² | 1 · 209 m² | 20.0 m · 5 fl. |
A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.
02-06-2026 General meeting · Officer appointment · Legal form conversion · Act object
- Filing: 2026-05-29 · VAPAX
- General meeting: 2026-05-13 · VAPAX
- Officer appointment: role: bestuurder, start_date: 2025-10-01 · Eline Verhulst
- Legal form conversion · VAPAX
- Publication: 2026-06-02
- Act object: 2018 Antwerpen
Technical details
{
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{
"type": "filing",
"quote": "Neergelegd 29-05-2026",
"value": "2026-05-29",
"object": null,
"subject": "e1"
},
{
"type": "general_meeting",
"quote": "NOTULEN UIT DE ALGEMENE VERGADERING DE DATO 13 MEI 2026",
"value": "2026-05-13",
"object": null,
"subject": "e1"
},
{
"type": "officer_appointment",
"quote": "Er werd met unanimiteit van stemmen beslist om Mevr Eline Verhulst, wonende te 2018 Antwerpen, Van Putlei 9 met ingang vanaf 1 oktober 2025 te benoemen tot bestuurder.",
"value": {
"role": "bestuurder",
"start_date": "2025-10-01"
},
"object": "e1",
"subject": "e2"
},
{
"type": "legal_form_conversion",
"quote": "Onderwerp akte: WIJZIGING RECHTSVORM",
"value": null,
"object": null,
"subject": "e1"
},
{
"type": "publication",
"quote": "Belgisch Staatsblad - 02/06/2026",
"value": "2026-06-02",
"object": null,
"subject": null
},
{
"type": "act_object",
"quote": "Onderwerp akte:\n2018 Antwerpen",
"value": "2018 Antwerpen",
"object": null,
"subject": null
}
],
"act_meta": {
"model_id": 40,
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"ocr_chars": 1047,
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},
"entities": [
{
"id": "e1",
"kbo": "0861.600.223",
"kind": "company",
"name": "VAPAX",
"attrs": {
"seat": "Van Putlei 9, 2018 Antwerpen",
"legal_form": "Besloten vennootschap met beperkte aansprakelijkheid"
}
},
{
"id": "e2",
"kbo": null,
"kind": "person",
"name": "Eline Verhulst",
"attrs": {
"address": "Van Putlei 9, 2018 Antwerpen"
}
}
]
}16-04-2024 Change in the board of directors
Technical details
{
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"schema": "v3.2",
"act_meta": {
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},
"subject_company": {
"kbo": "0861.600.223",
"name_full": "VAPAX",
"legal_form": "BV"
}
}01-02-2022 Transaction in capital or shares
Technical details
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}
}28-01-2021 Articles of association amended
Technical details
{
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"statute_change": {
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"effective_date": "2021-01-22",
"legal_form_change": false
},
"bedrijfsrevisor": null,
"subject_company": {
"kbo": "0861.600.223",
"name_full": "VAPAX",
"legal_form": "BVBA"
},
"signature_regime": "solo",
"special_mandates": [],
"governance_change": {
"admin_delegated_added": []
}
}22-01-2020 Registered office moved from Antwerpen to Aartselaar
- Lemmestraat 12, 2018 Antwerpen → Antwerpsesteenweg 40-42, 2630 Aartselaar
Technical details
{
"events": [
{
"kind": "zetel_transfer",
"seat_type": "statutaire",
"new_address": {
"city": "Aartselaar",
"region": null,
"street": "Antwerpsesteenweg",
"country": "BE",
"postcode": "2630",
"box_number": null,
"street_number": "40-42"
},
"old_address": {
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"region": null,
"street": "Lemmestraat",
"country": "BE",
"postcode": "2018",
"box_number": null,
"street_number": "12"
},
"effective_date": "2020-01-22",
"evidence_quote": "De maatschappelijke zetel van de vennootschap wordt vanaf heden gewijzigd in \u0022Antwerpsesteenweg 40-42\u0022 te 2630 Aartselaar."
}
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}20-02-2017 Winnefred Blindeman resigns as manager
- Winnefred Blindeman, Zaakvoerder
Technical details
{
"events": [
{
"kind": "director_out",
"role": "zaakvoerder",
"person": {
"rrn": null,
"name": "Winnefred Blindeman",
"address": null,
"birth_date": null
},
"effective_date": "2016-12-31",
"evidence_quote": "Mevr. Winnefred Blindeman wordt ontslagen als zaakvoerder en dit met terugwerkende kracht vanaf 31/12/2016."
}
],
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"legal_form": "BVBA"
}
}16-04-2015 Capital increase of €300,000 to €318,600
- €18.600 → €318.600
Technical details
{
"events": [
{
"kind": "capital_increase",
"amount": 300000.0,
"currency": "EUR",
"after_eur": 318600.0,
"delta_eur": 300000.0,
"before_eur": 18600.0,
"amount_type": "kapitaal_effectief",
"effective_date": "2015-03-27",
"evidence_quote": "De vergadering beslist het kapitaal van de vennootschap te verhogen door inbreng in geld ten belope van driehonderdduizend euro (\u20AC 300.000,00) om het te brengen van achttienduizend zeshonderd euro (\u20AC 18.600,00) naar driehonderdachttienduizend zeshonderd euro (\u20AC 318.600,00).",
"contribution_type": "cash"
}
],
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"subject_company": {
"kbo": "0861.600.223",
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"legal_form": "BVBA"
}
}28-01-2015 Articles of association amended
Technical details
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"statute_change": {
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"effective_date": "2014-12-15",
"legal_form_change": false
},
"bedrijfsrevisor": null,
"subject_company": {
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"name_full": "VAPAX",
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},
"signature_regime": null,
"special_mandates": [
{
"quote": "verleent tevens, voor zoveel als nodig, bijzondere volmacht aan de besloten vennootschap met beperkte aansprakelijkheid \u0022Swinnen Kristof \u0026 Partners\u0022, gevestigd te 2500 Lier, Aarschotsesteenweg 232 B, vertegenwoordigd door de heer Kristof Swinnen, aan wie de macht wordt verleend om alle nuttige noodzakelijke administratieve formaliteiten te vervullen, met inbegrip van de aanvraag of wijziging bij de B.T.W., een Ondernemingsloket, Sociale Verzekeringskas, de directe belastingen en andere nuttige administraties. De lasthebber zal ten dien einde alle formulieren mogen invullen, alle documenten mogen ondertekenen, en in het algemeen alles doen wat noodzakelijk of nuttig is, zelfs indien hierin niet voorzien, en met recht om derden in haar plaats te stellen.",
"holder_kbo": null,
"holder_name": "Swinnen Kristof \u0026 Partners",
"scope_categories": [
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"tax",
"filing",
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],
"with_substitution": true
}
],
"governance_change": {
"admin_delegated_added": []
}
}22-12-2014 Winnefred Blindeman appointed as manager
- Winnefred Blindeman, Zaakvoerder
Technical details
{
"events": [
{
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"role": "zaakvoerder",
"person": {
"rrn": null,
"name": "Winnefred Blindeman",
"address": null,
"birth_date": null
},
"effective_date": "2015-01-01",
"evidence_quote": "Mevr. Winnefred Blindeman (NN 46.02.19-266-47), wonende te Antwerpsesteenweg 17B te 2630: Aartselaar wordt aangesteld als zaakvoerder en dit vanaf 01/01/2015."
}
],
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"subject_company": {
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}
}Generate a structured, factual brief from every signal in this dossier: risk, financial health, ownership, mandates and sector comparison.
| Legal nameNL | VAPAX |