VAS
ActiveSummary
VAS has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6.4m and a net result of €230,662. Equity is growing by ~14.2% per year across the filed fiscal years. Its solvency ranks better than 78% of 9336 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
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Signals
This company filed its last 7 accounts on average 21 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
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History
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Financials · fiscal year 2025, abbreviated schema
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
- 2025 Net result +139% on 2024. Part of COMMER received in a demerger, effective 01-07-2025.
- 2024 Net result -62% on 2023. The accounts now follow the abbreviated schema, last year the micro schema.
- 2022 Net result +32,211% on 2021. The accounts now follow the micro schema, last year the abbreviated schema.
Peer companies
Historical observationOf the 1,860 companies that looked in July 2024 the way this one looks now, 0.1% went bankrupt within 24 months and 98% are still going.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
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 1,860 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.
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €131,399 | €130,821 | €163,364 | €403,095 | €225,679 | ▼ 44.0% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | -€75,000 | - |
| Other operating charges640/8 | - | €16,716 | €14,755 | €15,368 | €23,788 | ▲ 54.8% |
| Non-recurring operating charges66A | - | €6,538 | €212 | €126 | €1,564 | ▲ 1,139% |
| Gross operating margin9900 | €153,376 | €3.8m | €146,378 | €405,651 | €381,699 | ▼ 5.9% |
| Operating profit (loss)9901 | €3,461 | €3.7m | -€31,953 | -€12,937 | €205,668 | ▲ 1,690% |
| Financial income75/76B | - | €3,552 | €176,987 | €114,616 | €229,656 | ▲ 100% |
| Recurring financial income75 | €12,502 | €3,552 | €176,987 | €114,616 | €229,656 | ▲ 100% |
| Financial charges65/66B | - | €145,324 | -€94,524 | €16,316 | €173,989 | ▲ 966% |
| Recurring financial charges65 | €7,162 | €145,324 | -€94,524 | €16,316 | €173,989 | ▲ 966% |
| Profit (loss) for the period before taxes9903 | €8,801 | €3.5m | €239,558 | €85,363 | €261,335 | ▲ 206% |
| Transfer from deferred taxes780 | - | €10,256 | €17,709 | €68,045 | €29,201 | ▼ 57.1% |
| Transfer to deferred taxes680 | - | €881,174 | €0 | - | - | - |
| Income taxes67/77 | €635 | €0 | - | €56,762 | €59,874 | ▲ 5.5% |
| Profit (loss) for the period9904 | €8,166 | €2.6m | €257,267 | €96,646 | €230,662 | ▲ 139% |
| Transfer from tax-exempt reserves789 | - | €30,769 | €53,127 | €204,134 | €87,602 | ▼ 57.1% |
| Transfer to tax-exempt reserves689 | - | €2.6m | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €8,166 | €25,789 | €310,394 | €300,780 | €318,264 | ▲ 5.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.9m | €7.9m | €8.4m | €9.6m | €9.3m | ▼ 3.1% |
| Fixed assets21/28 | €3.4m | €4.4m | €4.9m | €7.1m | €7.1m | ▼ 0.5% |
| Tangible fixed assets22/27 | €2.1m | €3.1m | €3.6m | €5.8m | €5.8m | ▼ 0.7% |
| Land and buildings22 | - | €3.0m | €3.6m | €5.8m | €5.7m | ▼ 1.3% |
| Plant, machinery and equipment23 | - | €55,207 | €53,488 | €59,269 | €99,149 | ▲ 67.3% |
| Furniture and vehicles24 | - | €6,117 | €4,520 | €2,923 | €1,702 | ▼ 41.8% |
| Other tangible fixed assets26 | - | €0 | €5,670 | €5,670 | €5,670 | = |
| Financial fixed assets28 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Current assets29/58 | €504,930 | €3.6m | €3.4m | €2.5m | €2.3m | ▼ 10.4% |
| Stocks and contracts in progress3 | €341,164 | €837,013 | €894,038 | €0 | - | - |
| Stocks30/36 | - | €837,013 | €894,038 | €0 | - | - |
| Amounts receivable within one year40/41 | €92,942 | €202,728 | €253,332 | €110,670 | €142,575 | ▲ 28.8% |
| Trade receivables40 | - | €1,501 | €159,185 | €13,896 | €44,375 | ▲ 219% |
| Other amounts receivable41 | - | €201,227 | €94,148 | €96,774 | €98,200 | ▲ 1.5% |
| Current investments50/53 | - | €1.4m | €1.9m | €1.8m | €1.9m | ▲ 4.8% |
| Cash at bank and in hand54/58 | €68,085 | €1.1m | €374,458 | €591,634 | €231,003 | ▼ 61.0% |
| Deferred charges and accrued income490/1 | - | €3,470 | €44,981 | €29,069 | €7,527 | ▼ 74.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.9m | €7.9m | €8.4m | €9.6m | €9.3m | ▼ 3.1% |
| Equity10/15 | €2.8m | €5.7m | €5.9m | €6.0m | €6.4m | ▲ 6.5% |
| Contributions10/11 | €2.0m | €2.1m | €2.1m | €2.1m | €2.2m | ▲ 3.2% |
| Capital10 | - | €2.1m | €2.1m | €2.1m | €2.2m | ▲ 3.2% |
| Issued capital100 | - | €2.1m | €2.1m | €2.1m | €2.2m | ▲ 3.2% |
| Reserves13 | €880,646 | €3.5m | €3.8m | €3.9m | €4.2m | ▲ 8.3% |
| Non-distributable reserves130/1 | - | €138,435 | €213,536 | €213,536 | €228,033 | ▲ 6.8% |
| Legal reserve130 | - | €138,435 | €213,536 | €213,536 | €228,033 | ▲ 6.8% |
| Tax-exempt reserves132 | - | €2.6m | €2.6m | €2.4m | €2.3m | ▼ 3.7% |
| Distributable reserves133 | - | €768,000 | €1.0m | €1.3m | €1.7m | ▲ 30.1% |
| Profit (loss) carried forward14 | - | €0 | €293 | €74 | €337 | ▲ 358% |
| Provisions and deferred taxes16 | €75,000 | €945,917 | €928,209 | €860,164 | €755,963 | ▼ 12.1% |
| Provisions for liabilities and charges160/5 | - | €75,000 | €75,000 | €75,000 | €0 | ▼ 100% |
| Other liabilities and charges164/5 | - | €75,000 | €75,000 | €75,000 | €0 | ▼ 100% |
| Deferred taxes168 | - | €870,917 | €853,209 | €785,164 | €755,963 | ▼ 3.7% |
| Amounts payable17/49 | €967,918 | €1.3m | €1.5m | €2.8m | €2.2m | ▼ 21.2% |
| Amounts payable after more than one year17 | €373,850 | €380,654 | €391,946 | €408,576 | €427,865 | ▲ 4.7% |
| Financial debts170/4 | - | €368,894 | €380,169 | €391,444 | €402,719 | ▲ 2.9% |
| Other amounts payable178/9 | - | €11,760 | €11,777 | €17,132 | €25,146 | ▲ 46.8% |
| Amounts payable within one year42/48 | €546,257 | €891,437 | €1.1m | €2.3m | €1.7m | ▼ 26.4% |
| Trade debts44 | €20,538 | €98,239 | €199,415 | €2.1m | €15,672 | ▼ 99.2% |
| Suppliers440/4 | - | €98,239 | €199,415 | €2.1m | €15,672 | ▼ 99.2% |
| Advances received on contracts in progress46 | - | €547,100 | €705,680 | €0 | €22,448 | - |
| Taxes, remuneration and social security45 | - | €36,445 | €5,416 | €33,093 | €34,666 | ▲ 4.8% |
| Taxes450/3 | - | €36,445 | €5,416 | €33,093 | €34,666 | ▲ 4.8% |
| Other amounts payable47/48 | - | €209,654 | €151,032 | €187,850 | €1.6m | ▲ 757% |
| Accrued charges and deferred income492/3 | - | €55,561 | €61,904 | €68,692 | €66,576 | ▼ 3.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,166 | €2.6m | €257,267 | €96,646 | €230,662 | ▲ 139% |
| + Depreciation and write-downs630 | €131,399 | €130,821 | €163,364 | €403,095 | €225,679 | ▼ 44.0% |
| Operating cash flow (approximation) | €139,565 | €2.8m | €420,631 | €499,740 | €456,341 | ▼ 8.7% |
| Investment in fixed assets (approximation) | - | -€1.1m | -€737,423 | -€2.6m | -€186,760 | ▲ 92.8% |
| Change in cash | - | €1.0m | -€726,784 | €217,176 | -€360,631 | ▼ 266% |
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
24-02
State Gazette act
Capital & shares · Purpose · Statutes amendment · RestructuringDemerger · Real estate · Capital increase14 facts ▸
- General meeting, 05-02-2026
- Demerger, Inbreng in natura ingevolge splitsing van NV COMMER naar NV VAS en NV VIM, partial split
- Demerger, Inbreng in natura ingevolge splitsing van NV COMMER naar NV VIM, partial split
- Real estate, Een handelshuis op en met grond, gestaan en gelegen aan de Brabantdam 9, 9000 Gent, sectie C, nummer 695/a, oppervlakte 84 ca.
- Capital increase, €68.024,18
- Share issue, Nieuwe aandelen uitgegeven aan aandeelhouders van de te splitsen vennootschap, 2956
- Share transfer, COMMER → Philip Vancaeneghem
- Share transfer, COMMER → Karina Van Lancker
- Share transfer, COMMER → Valerie Marie Iris Vancaeneghem
- Share transfer, COMMER → Anne-Sophie Vancaeneghem
- Accounting effect, 01-07-2025
- Purpose change, Uitbreiding van het voorwerp ingevolge splitsing
- +2 further facts in this act
Show earlier events
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
Directors · office · real estate
1 establishment unit
2 parcels
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44062D0382/00M000 | Flanders | 1,417 m² | 1 · 443 m² | 15.1 m · 5 fl. |
| 44815F1993/00S000 | Flanders | 583 m² | 1 · 219 m² | 14.6 m · 3 fl. |
Linked by address, not proof of ownership
Articles of association
Full purpose
De vennootschap heeft tot voorwerp, zowel in België als in het buitenland, voor eigen rekening of voor rekening van derden of in deelneming met derden: - de aan- en verkoop, de exploitatie, de valorisatie, het verkavelen, de urbanisatie, de ruiling en verdeling, het huren en verhuren van alle onroerende gebouwde en ongebouwde, gemeubileerde en niet-gemeubileerde goederen, alsook het uitvoeren van alle bouw- en verbouwingswerken, de aanverwante activiteiten, dit alles in de meest brede betekenis van het woord: - het vervullen van opdrachten als "syndicus" het in leasing geven en/of in leasing nemen van roerende en onroerende goederen; - de aankoop en verkoop, ruiling, beheer en valorisatie van geld en geldverbeeldende waarden; - het zoeken, begeleiden, bemiddelen, coördineren van projecten, terreinen en middelen; de binnenhuisinrichting van gebouwen en alle daarmee verband houdende activiteiten; zowel voor eigen rekening als voor rekening van derden het aannemen van bouwwerken, verbouwwerken, schrijn- en timmerwerken, dakwerken, isolatiewerken, winkelinrichting, binnenhuisinrichting zowel als hoofdactiviteit als in onderaanneming; - alle onderhouds-, instandhoudingswerken van gebouwen; - het uitbaten van een laadstation, het verhuren van laadpalen, het aan- en verkopen van energie, energiedelen; - de uitbating van een handel met wisselend assortiment van opkoop en in consignatieneming van alle stocks in de meest uitgebreide zin; - het uitbaten van groot- en kleinhandel, het huren en verhuren, de invoer en uitvoer van meubelen, kunst- en siervoorwerpen, antiquiteiten, collectievoorwerpen en aanverwanten, tapijten, huisraad, huishoudartikelen, textiel en allerlei non-food artikelen, nieuw- en tweedehandsmateriaal, onderhoudsartikelen en -producten, en allerlei verbruiksgoederen, - het inrichten van culturele en artistieke manifestaties, tentoonstellingen, vernissages, congressen en feestelijkheden allerhande; - het organiseren en verzorgen van bijeenkomsten, feesten en feestmalen; het verlenen van diensten als traiteur; - het verlenen van advies in zowel roerende als onroerende verrichtingen, en het bemiddelen bij dergelijke transacties; - het opmaken van juridische, financiële en economische studies met betrekking tot roerende en onroerende beleggingen en handelingen. consultancy op het gebied van management van bedrijven, zowel juridisch, financieel, operationeel en op het gebied van algemene strategie alsmede het waarnemen van bestuurstaken in bedrijven en andere vennootschappen. Dit alles in de breedste zin van het woord. De vennootschap zal bevoegd zijn alle handelingen zonder uitzondering te verrichten, die daartoe noodzakelijk, nuttig of zelfs alleen maar bevorderlijk zijn. Zij mag bij wijze van inbreng in speciën of in natura, van fusie, inschrijving, deelneming, financiële tussenkomst of op een andere wijze, een aandeel nemen in alle bestaande of op te richten vennootschappen of bedrijven, in België of het buitenland, waarvan het voorwerp identiek, gelijkaardig of verwant is met het hare, of van aard is de uitoefening van haar voorwerp te bevorderen. Daartoe kan de vennootschap samenwerken met, deelnemen in, of op gelijk welke wijze, rechtstreeks of onrechtstreeks, belangen nemen in andere ondernemingen van allerlei aard, alle verbintenissen aangaan, kredieten en leningen aangaan en toestaan. De vennootschap kan zowel tot waarborg van eigen verbintenissen als tot waarborg van verbintenissen van derden borg stellen, onder meer door haar goederen in hypotheek of in pand te geven, inclusief de eigen handelszaak. De vennootschap kan eveneens optreden als bestuurder, volmachtdrager, mandataris of vereffenaar in andere vennootschappen of ondernemingen. De vennootschap kan in het algemeen alle commerciële, industriële, financiële, roerende of onroerende handelingen verrichten in rechtstreeks of onrechtstreeks verband met haar voorwerp of welke van aard zouden zijn de verwezenlijking ervan geheel of ten dele te vergemakkelijken.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 30-09-2025 list no shareholders, and no other source names one.
Holdings 1
-
79.63%
According to the annual accounts to 30-09-2025 of VAS and those 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.
Acquisitions and mergers
1 transactionCapital and shareholders
- COMMER to Philip Vancaeneghem 2,956 shares
- COMMER to Karina Van Lancker 2,956 shares
- COMMER to Valerie Marie Iris Vancaeneghem 2,956 shares
- COMMER to Anne-Sophie Vancaeneghem 2,956 shares
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 24-02-2026 Capital increase of 68,024.18 EUR · to 2,203,384.74 EUR
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Identification & contact
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.