Turnover
The micro format states no turnover.
The micro format states no turnover.
Of this, €78,308 falls due within a year.
Green is investment, beige is depreciation. Land and buildings stand 7313.5% higher than in 2024.
The dashed line is the sector median: 1.8% across 23,788 companies (NACE 56, micro).
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 56, micro). It does better than 30% of them on solvency, 67% on liquidity, 40% on profitability and 91% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 30-06-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 1,251 companies had the same profile as VAS has now. Each dot stands for 4 companies, two years later.
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of VAS itself: 2.5% within 12 months.
The method was tested on the 497,447 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 1,251 companies, not a prediction for VAS. 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.
Liquidity is tight, with a current ratio of 1.42 (1.06 in 2024), below the usual 1.5. Short-term debt is 8% and cash 9.9% of total assets. 94.1% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 5 accounts on average 33 days before the deadline. In the sector (NACE 56), the median for financial year 2024 was 7 days after the deadline, and 53% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| VAS Beveren-Kruibeke-Zwijndrecht | €1.0m | €213,783 | 5.9% | - |
| FOODSENSE Waasmunster | €0.9m | €236,015 | 2.2% | 4.3 |
| House Arjo Ninove | €1.1m | €210,725 | 32.7% | - |
| SIL Lokeren | €0.9m | €220,716 | 44.5% | - |
| Frituur De Gouden Saté Ninove | €0.9m | €185,593 | 55.3% | - |
| JEANNOT Lievegem | €0.9m | €244,689 | 0.1% | - |
| Bistro André Geraardsbergen | €0.8m | €222,227 | 2.3% | - |
These companies have the same main activity as VAS: full-service restaurants (NACE 56111). They are comparable in size and age: total assets between €814,000 and €1.1m, founded between 2019 and 2020.
VAS files the micro format. That format states no turnover. The gross margin rose from €144,608 in 2021 to €213,783 in 2025.
The balance sheet grew most in 2025 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €620,000. Estimated: probably between €520,000 and €750,000.
Higher than 30% of 17,158 companies in 2025.
Higher than 61% of 16,582 companies in 2025.
Higher than 46% of 16,665 companies in 2025.
Net result: top quarter · Equity: middle half · Balance sheet total: top quarter · Working capital: middle half
Staff costs divided by the average number of full-time equivalents.
In 2025, 5 people joined and 5 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
977,762 | 109,968 | 151,715 | 235,759 | 142,456 | |
21/28 |
866,265 | 60,319 | 90,200 | 98,015 | 28,027 | |
21 |
- | 1,581 | 2,915 | - | - | |
22/27 |
866,265 | 58,254 | 86,696 | 97,426 | 27,438 | |
22 |
764,777 | 10,316 | 13,006 | 1,781 | 1,998 | |
23 |
74,579 | 14,039 | 24,615 | 30,346 | 20,960 | |
24 |
26,909 | 33,899 | 49,076 | 65,299 | 4,480 | |
28 |
- | 484 | 589 | 589 | 589 | |
29/58 |
111,497 | 49,649 | 61,514 | 137,744 | 114,430 | |
3 |
14,335 | 19,118 | 24,118 | 21,372 | 16,000 | |
30/36 |
14,335 | 19,118 | 24,118 | 21,372 | 16,000 | |
40/41 |
- | - | 2,554 | 5,017 | 4,117 | |
40 |
- | - | - | 0 | 1,464 | |
41 |
- | - | 2,554 | 5,017 | 2,652 | |
54/58 |
97,162 | 30,531 | 34,842 | 111,355 | 94,313 | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
977,762 | 109,968 | 151,715 | 235,759 | 142,456 | |
10/15 |
57,505 | 26,540 | 13,616 | 83,166 | 54,679 | |
10/11 |
3,300 | 3,300 | 3,000 | 3,000 | 3,000 | |
11 |
3,300 | 3,300 | - | - | - | |
1109/19 |
3,300 | 3,300 | - | - | - | |
13 |
54,205 | 51,000 | 51,300 | 51,300 | 51,300 | |
130/1 |
- | - | 300 | 300 | 300 | |
1311 |
- | - | 300 | 300 | 300 | |
133 |
54,205 | 51,000 | 51,000 | 51,000 | 51,000 | |
14 |
- | -27,760 | -40,684 | 28,866 | 379 | |
17/49 |
920,257 | 83,428 | 138,099 | 152,593 | 87,777 | |
17 |
841,949 | 36,646 | 43,744 | 36,835 | 44,872 | |
170/4 |
841,949 | 36,646 | 43,744 | 36,835 | 44,872 | |
42/48 |
78,308 | 46,782 | 94,355 | 115,758 | 42,905 | |
42 |
39,662 | 18,570 | 31,565 | 32,835 | 3,906 | |
44 |
6,467 | 6,727 | 10,902 | 20,185 | 12,748 | |
440/4 |
6,467 | 6,727 | 10,902 | 20,185 | 12,748 | |
45 |
23,770 | 16,179 | 51,207 | 43,208 | 26,132 | |
450/3 |
19,139 | 12,980 | 15,196 | 8,762 | 1,780 | |
454/9 |
4,631 | 3,199 | 36,012 | 34,446 | 24,352 | |
47/48 |
8,409 | 5,306 | 680 | 19,530 | 118 | |
| Income statement | ||||||
76A |
- | - | - | 0 | 2,399 | |
9900 |
213,783 | 122,232 | 99,080 | 160,715 | 144,608 | |
62 |
67,903 | 76,146 | 135,990 | 96,433 | 78,894 | |
630 |
62,512 | 28,516 | 24,969 | 16,886 | 6,082 | |
640/8 |
18,437 | 1,789 | 1,991 | 7,047 | 3,646 | |
66A |
- | - | 3,502 | - | - | |
9901 |
64,931 | 15,781 | -67,372 | 40,350 | 55,986 | |
75/76B |
- | - | 26 | 6 | 1 | |
75 |
- | - | 26 | 6 | 1 | |
65/66B |
29,685 | 2,639 | 2,204 | 3,032 | 2,539 | |
65 |
29,685 | 2,639 | 2,204 | 3,032 | 2,539 | |
9903 |
35,246 | 13,142 | -69,550 | 37,323 | 53,448 | |
67/77 |
4,281 | 218 | 0 | 8,837 | 1,769 | |
9904 |
30,965 | 12,924 | -69,550 | 28,486 | 51,679 | |
9905 |
30,965 | 12,924 | -69,550 | 28,486 | 51,679 | |
| Appropriation of the result | ||||||
9906 |
3,205 | -27,760 | -40,684 | 28,866 | 51,679 | |
14P |
-27,760 | -40,684 | 28,866 | 379 | - | |
691/2 |
3,205 | - | - | 0 | 51,300 | |
6920 |
- | - | - | 0 | 300 | |
6921 |
3,205 | - | - | 0 | 51,000 | |
| Social balance sheet | ||||||
9087 |
1.8 | 2.5 | - | - | - | |
Hours worked1013 |
2,522 | 1,221 | - | - | - | |
| Document | ||||||
The notes to these accounts have 11 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 19-12-2025.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 19-12-2025 | 2025-00585713 | |
| 30-06-2024 | micro format | 08-12-2024 | 2024-00611744 | |
| 30-06-2023 | micro format | 27-11-2023 | 2023-00521174 | |
| 30-06-2022 | micro format | 26-01-2023 | 2023-00021724 | |
| 30-06-2021 | micro format | 03-02-2022 | 2022-04700466 |
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €5,038 | €5,038 |
| 2024 | 2 | €5,224 | €8,344 |
| 2023 | 2 | €8,989 | €5,420 |
| 2022 | 2 | €9,356 | €9,356 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| 127,443 | 44,297 | -42,403 | 57,236 | 62,068 | ||
| 93,477 | 41,440 | -44,581 | 45,372 | 57,761 | ||
| 881,016 | -1,365 | 22,356 | 86,875 | 34,108 | ||
| 66,631 | -4,311 | -76,513 | 17,042 | - | ||
| 33,189 | 2,867 | -32,841 | 21,986 | 71,524 | ||
| 5.9% | 24.1% | 9.0% | 35.3% | 38.4% | ||
| 1.42 | 1.06 | 0.65 | 1.19 | 2.67 | ||
| 1.24 | 0.65 | 0.40 | 1.01 | 2.29 | ||
| 16.00 | 3.14 | 10.14 | 1.83 | 1.61 | ||
| 53.8% | 48.7% | -510.8% | 34.3% | 94.5% | ||
| 3.2% | 11.8% | -45.8% | 12.1% | 36.3% | ||
| 4.29 | 16.79 | -19.24 | 18.88 | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 30-06-2025 | 30-06-2024 |
|---|---|---|
| Employees at the balance-sheet date | 2 | 2 |
| part-time | 2 | 2 |
| in full-time equivalents | 1.4 | 1.4 |
| 1.5 | 1.9 | |
| On a permanent contract | 2 | 2 |
| Joined | 5 | - |
| Left | 5 | - |
Source: social balance sheet in the 2024 to 2025 annual accounts
| Item | 30-06-2025 | 30-06-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Tangible fixed assets | €881,016 | - | €18,356 | €86,875 |
| Intangible fixed assets | - | - | €4,000 | - |
| €62,512 | €28,516 | €24,969 | €16,886 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 4.1 times that of 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Debt's share of the balance-sheet total rises from 75.9% to 94.1%. Equity and debt are higher.
VAS has no parent and no holdings in its annual accounts. VAS shares no director with another company.
Deadline for the 2026 accounts: 31-01-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number | FASFC approval |
|---|---|---|---|
| Gentseweg 536 registered office 9120 Beveren-Kruibeke-Zwijndrecht | 18-12-2019 | 2.297.489.936 | Restaurant |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 46503C1204/00F000 | 608 m² | 1 · 213 m² | 8.7 m · 2 |
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