VAULT ENGINEERING
ActiveSummary
VAULT ENGINEERING has been active since 1989 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €115,279 and a net result of €24,785. Equity remains stable across the filed financial years (±1.9% per year). Its solvency ranks better than 33% of 1,676 sector peers (NACE 33, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Financials · financial year 2025, micro format
Equity
€115,279▲ 27.4%
2024 · €90,494
Total assets
€371,916▲ 1.6%
2024 · €366,231
Net result
€24,785▲ 77.8%
2024 · €13,941
Working capital
-€31,869▲ 52.9%
2024 · -€67,650
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 85% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€28,865
2025
Net result€24,785
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€371,916
2025
Equity€115,279
2025
Debt€256,637
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€31,869
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)6.7%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency31.0%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.75
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)1
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 33, Repair, maintenance and installation of machinery and equipment: 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), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€16,525-€30,422-€115,889-€33,946▲ 70.7%€32,598€18,888▼ 42.1%€15,642▼ 17.2%€28,865▲ 84.5%
Net result-€20,320-€25,728-€119,477below the sector's middle half-€38,306below the sector's middle half▲ 67.9%€28,090within the sector's middle half€13,311within the sector's middle half▼ 52.6%€13,941within the sector's middle half▲ 4.7%€24,785within the sector's middle half▲ 77.8%
Equity€167,207-€192,935▲ 15.4%€73,458within the sector's middle half▼ 61.9%€35,152within the sector's middle half▼ 52.1%€63,242within the sector's middle half▲ 79.9%€76,553within the sector's middle half▲ 21.0%€90,494within the sector's middle half▲ 18.2%€115,279within the sector's middle half▲ 27.4%
Total assets€406,573-€539,798▲ 32.8%€462,714above the sector's middle half▼ 14.3%€371,260above the sector's middle half▼ 19.8%€352,261above the sector's middle half▼ 5.1%€337,232above the sector's middle half▼ 4.3%€366,231above the sector's middle half▲ 8.6%€371,916above the sector's middle half▲ 1.6%
Debt€239,366-€346,863▲ 44.9%€389,256▲ 12.2%€336,109▼ 13.7%€289,019▼ 14.0%€260,680▼ 9.8%€275,737▲ 5.8%€256,637▼ 6.9%
Working capital€71,723-€47,257▼ 34.1%€8,501within the sector's middle half▼ 82.0%-€38,898below the sector's middle half-€21,599below the sector's middle half▲ 44.5%-€67,076below the sector's middle half▼ 211%-€67,650below the sector's middle half▼ 0.9%-€31,869below the sector's middle half▲ 52.9%
Solvency41.1%-35.7%▼ 5.4pp15.9%below the sector's middle half▼ 19.9pp9.5%below the sector's middle half▼ 6.4pp18.0%below the sector's middle half▲ 8.5pp22.7%within the sector's middle half▲ 4.7pp24.7%within the sector's middle half▲ 2.0pp31.0%within the sector's middle half▲ 6.3pp
Current ratio2.03-1.34▼ 0.681.07within the sector's middle half▼ 0.270.57below the sector's middle half▼ 0.500.77below the sector's middle half▲ 0.200.29below the sector's middle half▼ 0.480.49below the sector's middle half▲ 0.200.75below the sector's middle half▲ 0.26
Return on assets (ROA)-5.0%-4.8%▲ 9.8pp-25.8%below the sector's middle half▼ 30.6pp-10.3%below the sector's middle half▲ 15.5pp8.0%within the sector's middle half▲ 18.3pp3.9%within the sector's middle half▼ 4.0pp3.8%within the sector's middle half▼ 0.1pp6.7%within the sector's middle half▲ 2.9pp
Staff (FTE)1-1=1within the sector's middle half=1=1=1=1=1=
above
within
below
the middle half of NACE 33, Repair, maintenance and installation of machinery and equipment: 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 micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €371,916
Fixed assets
€276,991 ▼ 8.0%
Current assets
€94,925 ▲ 45.9%
Equity and liabilities €371,916
Equity
€115,279 ▲ 27.4%
Debt
€256,637 ▼ 6.9%
Debt's share of the balance-sheet total falls from 75.3% to 69.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€53,032▲
2024 · €39,901
Cash flow
€48,952▲
2024 · €38,200
Quick ratio
0.66▲
2024 · 0.49
Debt to equity
2.23▼
2024 · 3.05
ROE
21.5%▲
2024 · 15.4%
Interest coverage
13.37▼
2024 · 23.46
Debt ≤ 1 year
€126,794▼
2024 · €132,723
Debt > 1 year
€127,251▼
2024 · €140,598
Income taxes
€115
Staff costs
€47,956▲
2024 · €42,659
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 | - | - | - | - | €2,841 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €33,003 | €35,615 | €44,196 | €42,659 | €47,956 | ▲ 12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22,553 | €35,106 | €33,909 | €38,304 | €37,955 | €19,136 | €24,259 | €24,167 | ▼ 0.4% |
| Other operating charges640/8 | - | - | - | €968 | €1,146 | €1,125 | €1,146 | €1,144 | ▼ 0.2% |
| Non-recurring operating charges66A | - | - | - | - | €5,384 | €0 | - | - | - |
| Gross operating margin9900 | €44,355 | €102,404 | -€38,196 | €38,330 | €112,697 | €83,345 | €83,706 | €102,132 | ▲ 22.0% |
| Operating profit (loss)9901 | -€16,525 | €30,422 | -€115,889 | -€33,946 | €32,598 | €18,888 | €15,642 | €28,865 | ▲ 84.5% |
| Financial income75/76B | - | - | - | €617 | - | €1,168 | €0 | - | - |
| Recurring financial income75 | €11 | €13 | - | €3 | - | €1,168 | €0 | - | - |
| Non-recurring financial income76B | - | - | - | €615 | - | €1,168 | €0 | - | - |
| Financial charges65/66B | - | - | - | €4,977 | €4,508 | €6,745 | €1,701 | €3,965 | ▲ 133% |
| Recurring financial charges65 | €3,806 | €4,707 | €4,290 | €4,977 | €4,508 | €6,745 | €1,701 | €3,965 | ▲ 133% |
| Profit (loss) for the period before taxes9903 | -€20,320 | €25,728 | -€119,477 | -€38,306 | €28,090 | €13,311 | €13,941 | €24,900 | ▲ 78.6% |
| Income taxes67/77 | - | - | - | - | - | - | - | €115 | - |
| Profit (loss) for the period9904 | -€20,320 | €25,728 | -€119,477 | -€38,306 | €28,090 | €13,311 | €13,941 | €24,785 | ▲ 77.8% |
| Profit (loss) for the period to be appropriated9905 | -€20,320 | €25,728 | -€119,477 | -€38,306 | €28,090 | €13,311 | €13,941 | €24,785 | ▲ 77.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €406,573 | €539,798 | €462,714 | €371,260 | €352,261 | €337,232 | €366,231 | €371,916 | ▲ 1.6% |
| Fixed assets21/28 | €265,007 | €355,429 | €336,615 | €319,901 | €281,946 | €310,342 | €301,158 | €276,991 | ▼ 8.0% |
| Intangible fixed assets21 | - | €112,976 | €114,147 | €118,409 | €100,879 | €122,667 | €101,206 | €80,108 | ▼ 20.8% |
| Tangible fixed assets22/27 | €84,957 | €62,404 | €42,468 | €21,492 | €1,067 | €7,675 | €6,137 | €3,069 | ▼ 50.0% |
| Plant, machinery and equipment23 | - | - | - | €20,852 | €779 | €2,193 | €1,671 | €1,150 | ▼ 31.2% |
| Furniture and vehicles24 | - | - | - | €640 | €288 | €5,482 | €4,466 | €1,919 | ▼ 57.0% |
| Financial fixed assets28 | €180,050 | €180,050 | €180,000 | €180,000 | €180,000 | €180,000 | €193,815 | €193,815 | = |
| Current assets29/58 | €141,566 | €184,369 | €126,099 | €51,360 | €70,315 | €26,890 | €65,073 | €94,925 | ▲ 45.9% |
| Stocks and contracts in progress3 | - | - | - | - | - | - | - | €11,656 | - |
| Stocks30/36 | - | - | - | - | - | - | - | €11,656 | - |
| Amounts receivable within one year40/41 | €99,107 | €144,804 | €86,407 | €44,612 | €62,755 | €9,653 | €30,683 | €50,760 | ▲ 65.4% |
| Trade receivables40 | - | - | - | €14,304 | €60,346 | €8,438 | €25,683 | €50,760 | ▲ 97.6% |
| Other amounts receivable41 | - | - | - | €30,308 | €2,409 | €1,216 | €5,000 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €38,705 | €34,255 | €35,465 | €3,270 | €4,916 | €10,672 | €21,845 | €25,647 | ▲ 17.4% |
| Deferred charges and accrued income490/1 | - | - | - | €3,478 | €2,645 | €6,565 | €12,544 | €6,862 | ▼ 45.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €406,573 | €539,798 | €462,714 | €371,260 | €352,261 | €337,232 | €366,231 | €371,916 | ▲ 1.6% |
| Equity10/15 | €167,207 | €192,935 | €73,458 | €35,152 | €63,242 | €76,553 | €90,494 | €115,279 | ▲ 27.4% |
| Contributions10/11 | €18,592 | €18,592 | - | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | - | - | - | - | - |
| Distributable reserves133 | - | - | - | €1,859 | - | - | - | - | - |
| Profit (loss) carried forward14 | €146,756 | €172,484 | €53,007 | €14,701 | €44,650 | €57,961 | €71,902 | €96,687 | ▲ 34.5% |
| Amounts payable17/49 | €239,366 | €346,863 | €389,256 | €336,109 | €289,019 | €260,680 | €275,737 | €256,637 | ▼ 6.9% |
| Amounts payable after more than one year17 | €168,165 | €208,447 | €269,954 | €243,598 | €193,737 | €164,475 | €140,598 | €127,251 | ▼ 9.5% |
| Financial debts170/4 | - | - | - | €243,598 | €193,737 | €164,475 | €140,598 | €127,251 | ▼ 9.5% |
| Amounts payable within one year42/48 | €69,843 | €137,112 | €117,597 | €90,257 | €91,914 | €93,966 | €132,723 | €126,794 | ▼ 4.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €50,819 | €51,634 | €29,262 | €23,877 | €13,347 | ▼ 44.1% |
| Trade debts44 | €7,438 | €59,899 | €42,965 | €4,547 | €2,761 | €6,080 | €13,823 | €19,497 | ▲ 41.0% |
| Suppliers440/4 | - | - | - | €4,547 | €2,761 | €6,080 | €13,823 | €19,497 | ▲ 41.0% |
| Taxes, remuneration and social security45 | - | - | - | €4,990 | €5,268 | €5,972 | €6,019 | €12,901 | ▲ 114% |
| Taxes450/3 | - | - | - | €657 | €569 | €457 | €359 | €6,975 | ▲ 1,840% |
| Remuneration and social security454/9 | - | - | - | €4,333 | €4,699 | €5,515 | €5,660 | €5,927 | ▲ 4.7% |
| Other amounts payable47/48 | - | - | - | €29,901 | €32,251 | €52,651 | €89,004 | €81,048 | ▼ 8.9% |
| Accrued charges and deferred income492/3 | - | - | - | €2,253 | €3,367 | €2,239 | €2,416 | €2,592 | ▲ 7.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€20,320 | €25,728 | -€119,477 | -€38,306 | €28,090 | €13,311 | €13,941 | €24,785 | ▲ 77.8% |
| + Depreciation and write-downs630 | €22,553 | €35,106 | €33,909 | €38,304 | €37,955 | €19,136 | €24,259 | €24,167 | ▼ 0.4% |
| Operating cash flow (approximation) | €2,233 | €60,834 | -€85,568 | -€2 | €66,045 | €32,447 | €38,200 | €48,952 | ▲ 28.1% |
| Investment in fixed assets (approximation) | - | -€125,528 | -€15,095 | -€21,590 | €0 | -€47,532 | -€15,075 | €0 | - |
| Change in cash | - | -€4,450 | €1,211 | -€32,195 | €1,646 | €5,756 | €11,174 | €3,802 | ▼ 66.0% |
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 37 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 30-07-2026 | 2026-00355240 |
| 31-12-2024 | micro format | 25-08-2025 | 2025-00397703 |
| 31-12-2023 | micro format | 24-07-2024 | 2024-00276518 |
| 31-12-2022 | micro format | 19-06-2023 | 2023-00134939 |
| 31-12-2021 | micro format | 04-07-2022 | 2022-20124106 |
| 31-12-2020 | micro format | 28-07-2021 | 2021-40900041 |
| 31-12-2019 | micro format | 22-06-2020 | 2020-18600069 |
| 31-12-2018 | micro format | 23-07-2019 | 2019-35900424 |
| 31-12-2017 | micro format | 07-08-2018 | 2018-43500530 |
| 31-12-2016 | micro format | 26-07-2017 | 2017-35300410 |
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Of the 1,203 active companies whose main activity is installation of industrial machinery and equipment (NACE 33200), figures are known for 688. 541 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2023 · 1 entry · €263 awarded · €263 paidPublic contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.