VASTCO-ENGINEERING
ActiveSummary
VASTCO-ENGINEERING has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €115,133 and a net result of €47,103. Equity is growing by ~6% per year across the filed fiscal years. Its solvency ranks better than 80% of 9557 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+73
Solvency100=
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity ample (current ratio 2.9 against 20.32 in 2024; short-term debt: 18.4% and cash: 13.4% of total assets), and 18.4% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer 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
81.6%
Return on assets
33.4%
Age of the figures
9 mo
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
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 15-07-2026, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
16 d early
2024
34 d early
2023
36 d early
2022
21 d early
2021
31 d late
2020
26 d late
2019
17 d late
← 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 5 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 10 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€115,133▼ 20.7%
2024 · €145,135
Total assets
€141,128▼ 4.6%
2024 · €147,996
Net result
€47,103
2024 · -€21,948
Working capital
€49,295▼ 10.8%
2024 · €55,275
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, 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€47,334▲ 10.3%€92,166▲ 94.7%€28,142▼ 69.5%-€21,934€62,562
Net result€30,677within the sector's middle half▲ 13.6%€61,416above the sector's middle half▲ 100%€15,766within the sector's middle half▼ 74.3%-€21,948below the sector's middle half€47,103above the sector's middle half
Equity€188,321above the sector's middle half▲ 7.3%€223,494above the sector's middle half▲ 18.7%€230,262above the sector's middle half▲ 3.0%€145,135within the sector's middle half▼ 37.0%€115,133within the sector's middle half▼ 20.7%
Total assets€237,254within the sector's middle half▲ 27.5%€233,192within the sector's middle half▼ 1.7%€234,058within the sector's middle half▲ 0.4%€147,996within the sector's middle half▼ 36.8%€141,128within the sector's middle half▼ 4.6%
Debt€48,933▲ 361%€9,698▼ 80.2%€3,796▼ 60.9%€2,861▼ 24.6%€25,995▲ 809%
Working capital€67,834within the sector's middle half=€119,790above the sector's middle half▲ 76.6%€132,579above the sector's middle half▲ 10.7%€55,275within the sector's middle half▼ 58.3%€49,295within the sector's middle half▼ 10.8%
Solvency79.4%above the sector's middle half▼ 14.9pp95.8%above the sector's middle half▲ 16.5pp98.4%above the sector's middle half▲ 2.5pp98.1%above the sector's middle half▼ 0.3pp81.6%above the sector's middle half▼ 16.5pp
Current ratio2.39within the sector's middle half▼ 5.0513.35above the sector's middle half▲ 10.9635.93above the sector's middle half▲ 22.5820.32above the sector's middle half▼ 15.612.90within the sector's middle half▼ 17.42
Return on assets (ROA)12.9%within the sector's middle half▼ 1.6pp26.3%above the sector's middle half▲ 13.4pp6.7%within the sector's middle half▼ 19.6pp-14.8%below the sector's middle half▼ 21.6pp33.4%above the sector's middle half▲ 48.2pp
above
within
below
the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €62,562 after a loss of €21,934 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €141,128
Fixed assets
€65,839 ▼ 26.7%
Current assets
€75,290 ▲ 29.5%
Equity and liabilities €141,128
Equity
€115,133 ▼ 20.7%
Debt
€25,995 ▲ 809%
Debt's share of the balance-sheet total rises from 1.9% to 18.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€86,583▲
2024 · €6,177
Cash flow
€71,125▲
2024 · €6,163
Debt to equity
0.23▲
2024 · 0.02
ROE
40.9%▲
2024 · -15.1%
Interest coverage
80.33▲
2024 · 3.22
Debt ≤ 1 year
€25,995▲
2024 · €2,861
Income taxes
€15,741▲
2024 · €283
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,679 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 34,679 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,698 | €23,935 | €24,844 | €28,111 | €24,021 | ▼ 14.5% |
| Other operating charges640/8 | €603 | €1,393 | €881 | €457 | €970 | ▲ 113% |
| Gross operating margin9900 | €67,634 | €117,494 | €53,868 | €6,634 | €87,553 | ▲ 1,220% |
| Operating profit (loss)9901 | €47,334 | €92,166 | €28,142 | -€21,934 | €62,562 | ▲ 385% |
| Financial income75/76B | - | €2,242 | €496 | €2,185 | €1,361 | ▼ 37.7% |
| Recurring financial income75 | - | €2,242 | €496 | €2,185 | €1,361 | ▼ 37.7% |
| Financial charges65/66B | €46 | €662 | €2,391 | €1,916 | €1,078 | ▼ 43.8% |
| Recurring financial charges65 | €46 | €662 | €2,391 | €1,916 | €1,078 | ▼ 43.8% |
| Profit (loss) for the period before taxes9903 | €47,288 | €93,746 | €26,247 | -€21,665 | €62,845 | ▲ 390% |
| Income taxes67/77 | €16,611 | €32,330 | €10,481 | €283 | €15,741 | ▲ 5,470% |
| Profit (loss) for the period9904 | €30,677 | €61,416 | €15,766 | -€21,948 | €47,103 | ▲ 315% |
| Profit (loss) for the period to be appropriated9905 | €30,677 | €61,416 | €15,766 | -€21,948 | €47,103 | ▲ 315% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €237,254 | €233,192 | €234,058 | €147,996 | €141,128 | ▼ 4.6% |
| Fixed assets21/28 | €120,555 | €103,703 | €97,683 | €89,860 | €65,839 | ▼ 26.7% |
| Tangible fixed assets22/27 | €120,555 | €102,703 | €97,683 | €89,860 | €65,839 | ▼ 26.7% |
| Furniture and vehicles24 | €29,817 | €22,965 | €17,944 | €10,468 | €3,873 | ▼ 63.0% |
| Other tangible fixed assets26 | €90,738 | €79,738 | €79,739 | €79,392 | €61,966 | ▼ 21.9% |
| Financial fixed assets28 | - | €1,000 | - | - | - | - |
| Current assets29/58 | €116,699 | €129,489 | €136,375 | €58,136 | €75,290 | ▲ 29.5% |
| Amounts receivable after more than one year29 | - | €60,000 | - | - | - | - |
| Other amounts receivable291 | - | €60,000 | - | - | - | - |
| Stocks and contracts in progress3 | - | - | €12,166 | - | - | - |
| Stocks30/36 | - | - | €12,166 | - | - | - |
| Amounts receivable within one year40/41 | €85,403 | €35,687 | €65,149 | €50,280 | €54,402 | ▲ 8.2% |
| Trade receivables40 | €35,700 | €29,641 | €21,381 | €7,854 | €48,081 | ▲ 512% |
| Other amounts receivable41 | €49,703 | €6,046 | €43,769 | €42,426 | €6,321 | ▼ 85.1% |
| Current investments50/53 | - | - | €50,000 | - | - | - |
| Cash at bank and in hand54/58 | €30,583 | €33,802 | €9,060 | €7,856 | €18,841 | ▲ 140% |
| Deferred charges and accrued income490/1 | €713 | - | - | - | €2,047 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €237,254 | €233,192 | €234,058 | €147,996 | €141,128 | ▼ 4.6% |
| Equity10/15 | €188,321 | €223,494 | €230,262 | €145,135 | €115,133 | ▼ 20.7% |
| Contributions10/11 | €3,700 | €3,700 | €3,700 | €3,700 | €3,700 | = |
| Reserves13 | €184,588 | €219,794 | €226,562 | €163,383 | €111,433 | ▼ 31.8% |
| Non-distributable reserves130/1 | €370 | €370 | - | - | - | - |
| Reserves not available under the articles1311 | €370 | €370 | - | - | - | - |
| Distributable reserves133 | €184,218 | €219,424 | €226,562 | €163,383 | €111,433 | ▼ 31.8% |
| Profit (loss) carried forward14 | €33 | - | - | -€21,948 | - | - |
| Amounts payable17/49 | €48,933 | €9,698 | €3,796 | €2,861 | €25,995 | ▲ 809% |
| Amounts payable within one year42/48 | €48,865 | €9,698 | €3,796 | €2,861 | €25,995 | ▲ 809% |
| Financial debts43 | - | €1,526 | - | - | - | - |
| Credit institutions430/8 | - | €1,526 | - | - | - | - |
| Trade debts44 | €1,838 | €3,522 | €1,680 | €970 | €2,003 | ▲ 106% |
| Suppliers440/4 | €1,838 | €3,522 | €1,680 | €970 | €2,003 | ▲ 106% |
| Advances received on contracts in progress46 | €43,197 | - | - | - | - | - |
| Taxes, remuneration and social security45 | €3,830 | €4,306 | €2,115 | €1,891 | €23,992 | ▲ 1,169% |
| Taxes450/3 | €3,830 | €4,306 | €2,115 | €1,891 | €23,992 | ▲ 1,169% |
| Other amounts payable47/48 | - | €344 | - | - | - | - |
| Accrued charges and deferred income492/3 | €68 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €30,677 | €61,416 | €15,766 | -€21,948 | €47,103 | ▲ 315% |
| + Depreciation and write-downs630 | €19,698 | €23,935 | €24,844 | €28,111 | €24,021 | ▼ 14.5% |
| Operating cash flow (approximation) | €50,374 | €85,351 | €40,610 | €6,163 | €71,125 | ▲ 1,054% |
| Investment in fixed assets (approximation) | - | -€7,083 | -€18,823 | -€20,289 | €0 | ▲ 100% |
| Change in cash | - | €3,218 | -€24,742 | -€1,204 | €10,985 | ▲ 1,013% |
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
Next filing, fiscal year 2026, expected by
2026
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €47,103
Net result €47,103 after one loss-making year.
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€21,948
Net result drops to -€21,948, the lowest in the series; recovery starts the following year.
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity triplescurrent ratio 35.93
Current ratio from 13.35 to 35.93; short-term debt falls from €9,698 to €3,796.
10-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity times 6current ratio 13.35
Current ratio from 2.39 to 13.35; short-term debt falls from €48,865 to €9,698.
31-12
Financial
Equity above €200,000Eq €223,494 ▲18.7%
5 profitable years in a row build equity to €223,494.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 26 days late
2020
31-12
Financial
Liquidity times 5current ratio 7.43
Current ratio from 1.56 to 7.43; short-term debt falls from €70,176 to €10,542.
Show earlier events
31-12
Financial
Equity above €150,000Eq €175,458 ▲18.2%
3 profitable years in a row build equity to €175,458.
17-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 17 days late
2019
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 24 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Lievegem · 1 establishment unit since 2010
Ground area
4,571 m²
Building footprint
529 m²
Volume, LiDAR
2,885 m³
2 parcels, Flanders · tallest building 9.8 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Vastco-Engineering
since 20102.188.825.982
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44452B1347/00G000 | Flanders | 4,227 m² | 1 · 461 m² | 9.8 m · 2 fl. |
| 44036A1820/00F000 | Flanders | 344 m² | 1 · 68 m² | 7.7 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 11,577 companies in sector 71121 we hold annual accounts for 6,570. 5,254 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded16-06-2010
Fiscal year end31-12
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
E-invoicing
Reachable via Peppol
Peppol ID
0208:0826692693
Also
9925:BE0826692693
Registered
31-08-2023
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.