VASKON
ActiveSummary
VASKON has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €7.8m and a net result of €1.6m. Equity is growing by ~18.1% per year across the filed fiscal years. Its solvency ranks better than 88% of 483 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability88▲+4
Solvency99▲+15
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €600,000 at 30 days acceptable
Liquidity ample (current ratio 2.92 against 2.0 in 2024; short-term debt: 24% and cash: 0% of total assets), and 26.3% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 33
Relative position
BE, all sectors
reference
Repair, maintenance and installation of machinery and equipment (NACE 33)
about 56% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
73.7%
Return on assets
15%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-04-2026, 112 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
112 d early
2024
32 d early
2023
14 d early
2022
1 d early
2021
26 d early
2020
51 d early
2019
59 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 42 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money Which other companies belong to the same group?VALTECH · 20 companies
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
In the rankings
#6 company by equity in Menen, Manufacturing sector#9 company by total assets in West Flanders, Repair and installation of machinery sector
Equity
€7.8m▲ 26.7%
2024 · €6.2m
Total assets
€10.6m▲ 1.4%
2024 · €10.5m
Net result
€1.6m▲ 21.2%
2024 · €1.3m
Working capital
€4.9m▲ 24.6%
2024 · €3.9m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 33, Repair, maintenance and installation of machinery and equipment, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€1.6m▲ 14.5%€1.8m▲ 7.3%€1.3m▼ 27.6%€1.7m▲ 33.5%€2.1m▲ 21.5%
Net result€1.3mabove the sector's middle half▲ 25.1%€1.4mabove the sector's middle half▲ 4.9%€1.0mabove the sector's middle half▼ 27.9%€1.3mabove the sector's middle half▲ 31.4%€1.6mabove the sector's middle half▲ 21.2%
Equity€4.6mabove the sector's middle half▲ 28.9%€5.7mabove the sector's middle half▲ 23.9%€5.5mabove the sector's middle half▼ 3.5%€6.2mabove the sector's middle half▲ 13.2%€7.8mabove the sector's middle half▲ 26.7%
Total assets€10.5mabove the sector's middle half▼ 9.8%€9.1mabove the sector's middle half▼ 13.5%€12.8mabove the sector's middle half▲ 41.2%€10.5mabove the sector's middle half▼ 18.4%€10.6mabove the sector's middle half▲ 1.4%
Debt€5.8m▼ 27.7%€3.2m▼ 44.1%€7.3m▲ 125%€4.0m▼ 44.9%€2.6m▼ 36.1%
Working capital€2.7m▲ 77.2%€3.8m▲ 41.4%€3.1m▼ 16.5%€3.9m▲ 25.0%€4.9m▲ 24.6%
Solvency43.4%within the sector's middle half▲ 13.0pp62.2%above the sector's middle half▲ 18.8pp42.5%within the sector's middle half▼ 19.7pp59.0%within the sector's middle half▲ 16.5pp73.7%above the sector's middle half▲ 14.7pp
Staff (FTE)38above the sector's middle half▲ 15.5%30.2above the sector's middle half▼ 20.5%29.8above the sector's middle half▼ 1.3%32above the sector's middle half▲ 7.4%20.7above the sector's middle half▼ 35.3%
above
within
below
the middle half (P25 to P75) of NACE 33, Repair, maintenance and installation of machinery and equipment, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 21% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €10.6m
Fixed assets
€3.2m ▲ 21.9%
Current assets
€7.5m ▼ 5.3%
Equity and liabilities €10.6m
Equity
€7.8m ▲ 26.7%
Provisions
€247,109 ▼ 18.9%
Debt
€2.6m ▼ 36.1%
Debt's share of the balance-sheet total falls from 38.1% to 24.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€2.6m▲
2024 · €2.0m
Cash flow
€2.2m▲
2024 · €1.6m
Current ratio
2.92▲
2024 · 2.00
Quick ratio
2.00▲
2024 · 1.28
Debt to equity
0.33▼
2024 · 0.65
ROE
20.4%▼
2024 · 21.3%
ROA
15.0%▲
2024 · 12.6%
Interest coverage
150.17▼
2024 · 226.81
Debt ≤ 1 year
€2.6m▼
2024 · €3.9m
Income taxes
€555,440▲
2024 · €405,738
Staff costs
€3.4m▲
2024 · €2.4m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,082 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.3% 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 497,058 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% | 1.6% |
| 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 74% 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 20,082 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €4,525 | - |
| Remuneration, social security and pensions62 | - | €1.8m | €2.0m | €2.4m | €3.4m | ▲ 45.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €422,308 | €407,383 | €340,837 | €318,357 | €560,394 | ▲ 76.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €0 | - | - | €15,509 | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €28,548 | -€89,069 | €175,908 | -€57,617 | ▼ 133% |
| Other operating charges640/8 | - | €28,650 | €40,349 | €39,826 | €65,636 | ▲ 64.8% |
| Non-recurring operating charges66A | - | - | - | - | €3,909 | - |
| Gross operating margin9900 | €3.8m | €4.0m | €3.6m | €4.6m | €6.1m | ▲ 32.5% |
| Operating profit (loss)9901 | €1.6m | €1.8m | €1.3m | €1.7m | €2.1m | ▲ 21.5% |
| Financial income75/76B | - | €13,150 | €25,885 | €28,288 | €100,258 | ▲ 254% |
| Recurring financial income75 | €51,489 | €13,150 | €25,885 | €28,288 | €100,258 | ▲ 254% |
| Financial charges65/66B | - | €6,921 | €45,754 | €8,919 | €17,519 | ▲ 96.4% |
| Recurring financial charges65 | €10,397 | €6,921 | €45,754 | €8,919 | €17,519 | ▲ 96.4% |
| Profit (loss) for the period before taxes9903 | €1.7m | €1.8m | €1.3m | €1.7m | €2.2m | ▲ 24.9% |
| Transfer from deferred taxes780 | - | €178 | €0 | - | - | - |
| Income taxes67/77 | €357,758 | €378,480 | €253,349 | €405,738 | €555,440 | ▲ 36.9% |
| Profit (loss) for the period9904 | €1.3m | €1.4m | €1.0m | €1.3m | €1.6m | ▲ 21.2% |
| Transfer to tax-exempt reserves689 | - | - | - | €336,800 | €0 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | €1.3m | €1.4m | €1.0m | €981,318 | €1.6m | ▲ 62.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €10.5m | €9.1m | €12.8m | €10.5m | €10.6m | ▲ 1.4% |
| Fixed assets21/28 | €2.5m | €2.3m | €2.5m | €2.6m | €3.2m | ▲ 21.9% |
| Tangible fixed assets22/27 | €2.5m | €2.3m | €2.5m | €2.6m | €3.2m | ▲ 22.9% |
| Land and buildings22 | - | €1.9m | €2.2m | €2.1m | €2.8m | ▲ 30.6% |
| Plant, machinery and equipment23 | - | €287,680 | €201,304 | €334,364 | €294,086 | ▼ 12.0% |
| Furniture and vehicles24 | - | €134,110 | €141,261 | €138,550 | €124,190 | ▼ 10.4% |
| Financial fixed assets28 | - | - | €23,750 | €20,750 | €0 | ▼ 100% |
| Current assets29/58 | €8.0m | €6.8m | €10.3m | €7.9m | €7.5m | ▼ 5.3% |
| Stocks and contracts in progress3 | €4.1m | €2.7m | €5.3m | €2.8m | €2.3m | ▼ 17.7% |
| Stocks30/36 | - | - | - | - | €157,501 | - |
| Contracts in progress37 | - | €2.7m | €5.3m | €2.8m | €2.2m | ▼ 23.2% |
| Amounts receivable within one year40/41 | €3.2m | €2.2m | €4.3m | €4.8m | €5.0m | ▲ 4.3% |
| Trade receivables40 | - | €1.8m | €3.4m | €4.3m | €1.1m | ▼ 73.6% |
| Other amounts receivable41 | - | €387,712 | €955,499 | €547,700 | €3.9m | ▲ 612% |
| Cash at bank and in hand54/58 | €696,022 | €1.8m | €621,464 | €134,985 | €275 | ▼ 99.8% |
| Deferred charges and accrued income490/1 | - | €17,929 | €35,459 | €78,374 | €83,683 | ▲ 6.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €10.5m | €9.1m | €12.8m | €10.5m | €10.6m | ▲ 1.4% |
| Equity10/15 | €4.6m | €5.7m | €5.5m | €6.2m | €7.8m | ▲ 26.7% |
| Contributions10/11 | €340,095 | €340,095 | €340,095 | €340,095 | €392,158 | ▲ 15.3% |
| Capital10 | - | €340,095 | €340,095 | €340,095 | €392,158 | ▲ 15.3% |
| Issued capital100 | - | €392,158 | €392,158 | €392,158 | €392,158 | = |
| Uncalled capital101 | - | €52,063 | €52,063 | €52,063 | €0 | ▼ 100% |
| Revaluation surpluses12 | - | €8,196 | €8,196 | €8,196 | €8,196 | = |
| Reserves13 | €4.2m | €5.3m | €5.1m | €5.8m | €7.4m | ▲ 27.4% |
| Non-distributable reserves130/1 | - | €39,216 | €39,216 | €39,216 | €39,216 | = |
| Legal reserve130 | - | €39,216 | €39,216 | €39,216 | €39,216 | = |
| Tax-exempt reserves132 | - | €71,039 | €71,039 | €407,839 | €407,839 | = |
| Distributable reserves133 | - | €5.2m | €5.0m | €5.4m | €7.0m | ▲ 29.7% |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | €0 | - |
| Investment grants15 | - | €0 | - | - | - | - |
| Provisions and deferred taxes16 | €189,517 | €217,887 | €128,818 | €304,726 | €247,109 | ▼ 18.9% |
| Provisions for liabilities and charges160/5 | - | €217,887 | €128,818 | €304,726 | €247,109 | ▼ 18.9% |
| Other liabilities and charges164/5 | - | €217,887 | €128,818 | €304,726 | €247,109 | ▼ 18.9% |
| Deferred taxes168 | - | €0 | - | - | - | - |
| Amounts payable17/49 | €5.8m | €3.2m | €7.3m | €4.0m | €2.6m | ▼ 36.1% |
| Amounts payable after more than one year17 | €375,000 | €225,000 | €75,000 | €0 | - | - |
| Financial debts170/4 | - | €225,000 | €75,000 | €0 | - | - |
| Amounts payable within one year42/48 | €5.4m | €3.0m | €7.2m | €3.9m | €2.6m | ▼ 35.2% |
| Current portion of amounts payable after more than one year42 | - | €150,000 | €150,000 | €75,000 | €0 | ▼ 100% |
| Trade debts44 | €458,297 | €611,385 | €910,513 | €1.2m | €380,605 | ▼ 69.0% |
| Suppliers440/4 | - | €611,385 | €910,513 | €1.2m | €380,605 | ▼ 69.0% |
| Advances received on contracts in progress46 | - | €1.6m | €4.3m | €1.3m | €1.7m | ▲ 33.8% |
| Taxes, remuneration and social security45 | - | €362,062 | €560,671 | €757,703 | €321,342 | ▼ 57.6% |
| Taxes450/3 | - | €21,517 | €172,236 | €332,605 | €7,483 | ▼ 97.8% |
| Remuneration and social security454/9 | - | €340,545 | €388,434 | €425,098 | €313,860 | ▼ 26.2% |
| Other amounts payable47/48 | - | €300,000 | €1.2m | €600,000 | €135,914 | ▼ 77.3% |
| Accrued charges and deferred income492/3 | - | €0 | €14,334 | €54,162 | €73 | ▼ 99.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.3m | €1.4m | €1.0m | €1.3m | €1.6m | ▲ 21.2% |
| + Depreciation and write-downs630 | €422,308 | €407,383 | €340,837 | €318,357 | €560,394 | ▲ 76.0% |
| Operating cash flow (approximation) | €1.7m | €1.8m | €1.3m | €1.6m | €2.2m | ▲ 31.9% |
| Investment in fixed assets (approximation) | - | -€259,630 | -€540,246 | -€391,040 | -€1.1m | ▼ 189% |
| Change in cash | - | €1.1m | -€1.2m | -€486,480 | -€134,710 | ▲ 72.3% |
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
2026
23-09
State Gazette act
Appointment: BV Paterix (director)Permanent representative: Edward Terryn3 facts ▸
State Gazette act
Appointment: BV Paterix (director)
Permanent representative: Edward Terryn3 facts ▸
- General meeting, 15-07-2026
- Director appointment, BV Paterix (director)
- Permanent representative, Edward Terryn (permanent representative)
10-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2019net €1.6m ▲21.2%
Operating result €2.1m, net result €1.6m, both a record.
2024
30-12
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
17-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-06
Financial
Equity above €5mEq €5.7m ▲23.9%
4 profitable years in a row build equity to €5.7m.
05-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
11-12
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
03-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
02-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
19-12
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 12 acts read
About the unread acts
Of the 12 Belgian State Gazette acts we know for this company, 1 has been read. The other 11 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Board 1
Paterix
CurrentDirector · since 15-07-2026 · Private limited company · perm. rep.: Edward Terryn
Permanent representatives 1
Edward Terryn
CurrentPermanent representative · since 15-07-2026 · for Paterix
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
11 of this company's 12 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Menen · 1 establishment unit since 1993
Ground area
2,910 m²
Building footprint
1,914 m²
Volume, LiDAR
10,323 m³
Parcel 34372B0280/00G000, Flanders · tallest building 9.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
VASKON NV
since 19932.064.311.141
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34372B0280/00G000 | Flanders | 2,910 m² | 1 · 1,914 m² | 9.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 1 in office
- Board
| Name | Functions and periods |
|---|---|
| Paterix |
|
Articles of association
Who signs
“Vertegenwoordigingsbevoegdheid (artikel 19): "§1. Onverminderd de algemene vertegenwoordigingsmacht van de raad van bestuur als college wordt de vennootschap geldig vertegenwoordigd door twee bestuurders gezamenlijk om de vennootschap te vertegenwoordigen in alle handelingen in en buiten rechte. §2.…”
Full text
Vertegenwoordigingsbevoegdheid (artikel 19): "§1. Onverminderd de algemene vertegenwoordigingsmacht van de raad van bestuur als college wordt de vennootschap geldig vertegenwoordigd door twee bestuurders gezamenlijk om de vennootschap te vertegenwoordigen in alle handelingen in en buiten rechte. §2. Onverminderd hetgeen bepaald in paragraaf één, wordt de vennootschap geldig vertegenwoordigd door één gedelegeerd bestuurder. De bestuurder(s) aan wie deze individuele vertegenwoordigingsmacht wordt toegekend wordt/worden benoemd door de raad van bestuur bij eenvoudige meerderheid." Opgemaakt te Menen, op 15/07/2026 Getekend De NV VALTECH, vertegenwoordigd door haar vaste vertegenwoordiger, de heer Frank Vandeputte Gedelegeerd bestuurder Op de laatste biz. van Luik B vermelden:
Structure & network
Part of the group
VALTECH
20 companies
Group, risk and exposure
Owners and holdings
2 ownersChain of control
- VALTECH
- VASKON
Highest known parent: VALTECH. The sources do not say who stands above it.
Owners 2
- VALTECHparentSourceaccounts VALTECH 2025100%
-
33.33%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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
1 current directorThe group is listed under Ownership & control below; here you explore it as a network.
This company
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Director
Shareholding
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Public money · subsidies and aid
Flemish government
2022 to 2025 · 7 entries · 80,008 EUR awarded · 55,008 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 3 | 8,812 EUR | 8,812 EUR |
| 2024 | 2 | 58,508 EUR | 33,508 EUR |
| 2023 | 1 | 8,171 EUR | 8,171 EUR |
| 2022 | 1 | 4,517 EUR | 4,517 EUR |
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Of 3,719 companies in sector 33120 we hold annual accounts for 1,345. 158 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded29-10-1993
Fiscal year end31-12
Activities, NACEBEL 2025
25110Manufacture of metal structures and parts of structures
33120Repair and maintenance of machinery
33200Installation of industrial machinery and equipment
43211General electrical installation work
71121Engineering and related technical consultancy, excluding land surveyors
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0451169566
Also
9925:BE0451169566
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.