VATcom
ActiveSummary
VATcom has been active since 2007 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €13,441 and a net result of €9,310, of which €10,293 non-recurring income. Equity is shrinking by about 21% per year and would, assuming unchanged policy, indicatively turn negative around financial year 2026. Its solvency ranks better than 17% of 2,800 sector peers (NACE 82, financial year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Financials · financial year 2025, abbreviated format
2025 annual accounts filed late (31 days) Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00472698.
Turnover
≈ €78,000
Estimated: probably between €47,000 and €100,000
Total assets
€302,240▼ 10.1%
2024 · €336,299
Net result
€9,310
2024 · -€14,611
Working capital
-€269,398▲ 4.7%
2024 · -€282,645
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result returns to profit in 2025: €24,110 after a loss of €1,136 in 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€24,110
2025
Net result€9,310
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€302,240
2025
Equity€13,441
2025
Debt€288,799
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€269,398
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)3.1%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency4.4%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.07
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 82, Office administrative, office support and other business support activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€12,794-€13,141▲ 2.7%-€1,828-€21,516▼ 1,077%€1,196€43,687▲ 37×-€1,136€24,110
Net result€6,276-€6,753▲ 7.6%-€9,571below the sector's middle half-€27,891below the sector's middle half▼ 191%-€2,854below the sector's middle half▲ 89.8%-€84,904below the sector's middle half▼ 2,875%-€14,611below the sector's middle half▲ 82.8%€9,310within the sector's middle half
Equity€131,009-€137,762▲ 5.2%€128,191within the sector's middle half▼ 6.9%€100,300within the sector's middle half▼ 21.8%€97,446within the sector's middle half▼ 2.8%€18,742below the sector's middle half▼ 80.8%€4,131below the sector's middle half▼ 78.0%€13,441below the sector's middle half▲ 225%
Total assets€338,960-€357,384▲ 5.4%€420,607within the sector's middle half▲ 17.7%€394,366within the sector's middle half▼ 6.2%€446,393within the sector's middle half▲ 13.2%€364,530within the sector's middle half▼ 18.3%€336,299within the sector's middle half▼ 7.7%€302,240within the sector's middle half▼ 10.1%
Debt€207,951-€219,623▲ 5.6%€292,416▲ 33.1%€294,067▲ 0.6%€348,947▲ 18.7%€345,787▼ 0.9%€332,168▼ 3.9%€288,799▼ 13.1%
Working capital€86,370-€80,007▼ 7.4%-€152,005below the sector's middle half-€175,424below the sector's middle half▼ 15.4%-€177,362below the sector's middle half▼ 1.1%-€275,652below the sector's middle half▼ 55.4%-€282,645below the sector's middle half▼ 2.5%-€269,398below the sector's middle half▲ 4.7%
Solvency38.7%-38.5%▼ 0.1pp30.5%within the sector's middle half▼ 8.1pp25.4%within the sector's middle half▼ 5.0pp21.8%within the sector's middle half▼ 3.6pp5.1%below the sector's middle half▼ 16.7pp1.2%below the sector's middle half▼ 3.9pp4.4%below the sector's middle half▲ 3.2pp
Current ratio1.88-1.66▼ 0.220.14below the sector's middle half▼ 1.520.11below the sector's middle half▼ 0.030.35below the sector's middle half▲ 0.240.05below the sector's middle half▼ 0.310.03below the sector's middle half▼ 0.020.07below the sector's middle half▲ 0.04
Return on assets (ROA)1.9%-1.9%=-2.3%below the sector's middle half▼ 4.2pp-7.1%below the sector's middle half▼ 4.8pp-0.6%below the sector's middle half▲ 6.4pp-23.3%below the sector's middle half▼ 22.7pp-4.3%below the sector's middle half▲ 18.9pp3.1%within the sector's middle half▲ 7.4pp
above
within
below
the middle half of NACE 82, Office administrative, office support and other business support activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €302,240
Fixed assets
€282,839 ▼ 13.9%
Current assets
€19,401 ▲ 155%
Equity and liabilities €302,240
Equity
€13,441 ▲ 225%
Debt
€288,799 ▼ 13.1%
Debt's share of the balance-sheet total falls from 98.8% to 95.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€28,108▲
2024 · €21,689
Cash flow
€13,308▲
2024 · €8,214
Debt to equity
21.49▼
2024 · 80.41
ROE
69.3%▲
2024 · -353.7%
Interest coverage
2.32▲
2024 · 1.63
Debt ≤ 1 year
€288,799▼
2024 · €290,259
Income taxes
€2,670▲
2024 · €140
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €10,293 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,818 | €12,395 | €18,311 | €23,268 | €23,268 | €23,268 | €22,825 | €3,998 | ▼ 82.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €6,784 | - | -€6,784 | - |
| Other operating charges640/8 | - | - | - | €1,509 | €1,462 | €1,706 | €1,616 | €8,842 | ▲ 447% |
| Gross operating margin9900 | €24,981 | €29,315 | €18,258 | €3,261 | €25,926 | €75,444 | €23,305 | €30,167 | ▲ 29.4% |
| Operating profit (loss)9901 | €12,794 | €13,141 | -€1,828 | -€21,516 | €1,196 | €43,687 | -€1,136 | €24,110 | - |
| Financial income75/76B | - | - | - | €38 | €1,369 | €1,997 | €1 | - | - |
| Recurring financial income75 | €118 | - | - | €38 | €1,369 | €1,997 | €1 | - | - |
| Financial charges65/66B | - | - | - | €6,217 | €5,234 | €125,691 | €13,337 | €12,130 | ▼ 9.1% |
| Recurring financial charges65 | €6,636 | €6,388 | €7,627 | €6,217 | €5,234 | €10,741 | €13,337 | €12,130 | ▼ 9.1% |
| Non-recurring financial charges66B | - | - | - | - | - | €114,950 | - | - | - |
| Profit (loss) for the period before taxes9903 | €6,276 | €6,753 | -€9,456 | -€27,695 | -€2,670 | -€80,007 | -€14,472 | €11,980 | - |
| Income taxes67/77 | - | - | €115 | €196 | €184 | €4,897 | €140 | €2,670 | ▲ 19× |
| Profit (loss) for the period9904 | €6,276 | €6,753 | -€9,571 | -€27,891 | -€2,854 | -€84,904 | -€14,611 | €9,310 | - |
| Profit (loss) for the period to be appropriated9905 | €6,276 | €6,753 | -€9,571 | -€27,891 | -€2,854 | -€84,904 | -€14,611 | €9,310 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €338,960 | €357,384 | €420,607 | €394,366 | €446,393 | €364,530 | €336,299 | €302,240 | ▼ 10.1% |
| Fixed assets21/28 | €154,328 | €156,121 | €396,265 | €372,996 | €349,728 | €351,510 | €328,685 | €282,839 | ▼ 13.9% |
| Tangible fixed assets22/27 | €94,540 | €96,332 | €138,476 | €115,208 | €91,939 | €68,671 | €45,846 | - | - |
| Land and buildings22 | - | - | - | €82,718 | €69,095 | €55,472 | €41,848 | - | - |
| Plant, machinery and equipment23 | - | - | - | €886 | €443 | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €31,604 | €22,402 | €13,200 | €3,998 | - | - |
| Financial fixed assets28 | €59,789 | €59,789 | €257,789 | €257,789 | €257,789 | €282,839 | €282,839 | €282,839 | = |
| Current assets29/58 | €184,632 | €201,263 | €24,342 | €21,370 | €96,666 | €13,020 | €7,614 | €19,401 | ▲ 155% |
| Amounts receivable within one year40/41 | €136,354 | €152,404 | €11,319 | €8,927 | €86,505 | €9,151 | €4,384 | €16,927 | ▲ 286% |
| Trade receivables40 | - | - | - | €2,081 | €11,085 | €876 | €1,993 | €16,883 | ▲ 747% |
| Other amounts receivable41 | - | - | - | €6,845 | €75,420 | €8,276 | €2,391 | €44 | ▼ 98.2% |
| Cash at bank and in hand54/58 | €47,461 | €47,926 | €11,790 | €11,158 | €8,729 | €2,712 | €1,480 | €1,886 | ▲ 27.4% |
| Deferred charges and accrued income490/1 | - | - | - | €1,286 | €1,432 | €1,157 | €1,749 | €588 | ▼ 66.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €338,960 | €357,384 | €420,607 | €394,366 | €446,393 | €364,530 | €336,299 | €302,240 | ▼ 10.1% |
| Equity10/15 | €131,009 | €137,762 | €128,191 | €100,300 | €97,446 | €18,742 | €4,131 | €13,441 | ▲ 225% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €118,609 | €125,362 | €115,791 | €87,900 | €85,046 | - | - | - | - |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €86,040 | €83,186 | - | - | - | - |
| Profit (loss) carried forward14 | - | - | - | - | - | €142 | -€14,469 | -€5,159 | ▲ 64.3% |
| Amounts payable17/49 | €207,951 | €219,623 | €292,416 | €294,067 | €348,947 | €345,787 | €332,168 | €288,799 | ▼ 13.1% |
| Amounts payable after more than one year17 | €109,689 | €98,366 | €116,069 | €95,729 | €74,919 | €54,116 | €36,730 | - | - |
| Financial debts170/4 | - | - | - | €95,729 | €74,919 | €54,116 | €36,730 | - | - |
| Amounts payable within one year42/48 | €98,263 | €121,256 | €176,347 | €196,794 | €274,028 | €288,672 | €290,259 | €288,799 | ▼ 0.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €20,340 | €20,809 | €21,004 | €17,386 | - | - |
| Financial debts43 | - | - | - | - | - | - | - | €20 | - |
| Credit institutions430/8 | - | - | - | - | - | - | - | €20 | - |
| Trade debts44 | €5,780 | €4,630 | €24,707 | €23,123 | €18,031 | €8,714 | €9,511 | €7,213 | ▼ 24.2% |
| Suppliers440/4 | - | - | - | €23,123 | €18,031 | €8,714 | €9,511 | €7,213 | ▼ 24.2% |
| Advances received on contracts in progress46 | - | - | - | €57 | €11,495 | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €4,164 | €5,704 | €12,865 | €423 | €5,086 | ▲ 12× |
| Taxes450/3 | - | - | - | €4,164 | €5,704 | €12,865 | €423 | €5,086 | ▲ 12× |
| Other amounts payable47/48 | - | - | - | €149,110 | €217,989 | €246,088 | €262,940 | €276,481 | ▲ 5.1% |
| Accrued charges and deferred income492/3 | - | - | - | €1,544 | €0 | €3,000 | €5,179 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,276 | €6,753 | -€9,571 | -€27,891 | -€2,854 | -€84,904 | -€14,611 | €9,310 | - |
| + Depreciation and write-downs630 | €10,818 | €12,395 | €18,311 | €23,268 | €23,268 | €23,268 | €22,825 | €3,998 | ▼ 82.5% |
| Operating cash flow (approximation) | €17,094 | €19,147 | €8,740 | -€4,623 | €20,415 | -€61,636 | €8,214 | €13,308 | ▲ 62.0% |
| Investment in fixed assets (approximation) | - | -€14,187 | -€258,455 | €0 | €0 | -€25,050 | €0 | €41,848 | - |
| Change in cash | - | €465 | -€36,136 | -€632 | -€2,429 | -€6,017 | -€1,232 | €406 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 18 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-08-2026 | 2026-00472698 |
| 31-12-2024 | abbreviated format | 27-08-2025 | 2025-00423102 |
| 31-12-2023 | abbreviated format | 30-09-2024 | 2024-00482718 |
| 31-12-2022 | abbreviated format | 29-08-2023 | 2023-00369864 |
| 31-12-2021 | abbreviated format | 26-08-2022 | 2022-20323860 |
| 31-12-2020 | abbreviated format | 31-08-2021 | 2021-63600546 |
| 31-12-2019 | abbreviated format | 29-10-2020 | 2020-64600299 |
| 31-12-2018 | abbreviated format | 29-08-2019 | 2019-54600164 |
| 31-12-2017 | abbreviated format | 31-08-2018 | 2018-61600502 |
| 31-12-2016 | micro format | 28-08-2017 | 2017-51200052 |
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Of the 24,212 active companies whose main activity is other business support services (NACE 82990), figures are known for 9,701. 5,338 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.