VB-AGRO
ActiveSummary
VB-AGRO has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.8m and a net result of €70,762. Equity remains stable across the filed fiscal years (±0.6% per year). Its solvency ranks better than 60% of 3173 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability71▲+39
Solvency70▲+1
Growth52▲+20
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €120,000 at 30 days acceptable
Liquidity short (current ratio 0.18 against 0.17 in 2024; short-term debt: 44.5% and cash: 0.1% of total assets), and 55.1% 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 01
Relative position
BE, all sectors
reference
Crop and animal production, hunting and related service activities (NACE 01)
about 70% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
44.9%
Return on assets
1.8%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-09-2026, 39 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
39 d late
2024
89 d late
2023
57 d late
2022
60 d late
2021
30 d late
2020
27 d late
2019
61 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 52 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 37% 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 27 September (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#3 oldest company in Veurne, Agriculture, forestry and fishing sector#4 company by equity in Veurne, Agriculture, forestry and fishing sector#6 company by total assets in Veurne, Agriculture, forestry and fishing sector
Equity
€1.8m▲ 4.2%
2024 · €1.7m
Total assets
€4.0m▲ 3.0%
2024 · €3.9m
Net result
€70,762
2024 · -€89,549
Working capital
-€1.5m▼ 0.5%
2024 · -€1.4m
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 01, Crop and animal production, hunting and related service activities, each year against the same schema; no band under 30 filings. 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 fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€10,145▼ 83.8%€37,970▲ 274%-€5,370-€56,821▼ 958%€96,629
Net result-€30,562below the sector's middle half€1,391within the sector's middle half-€38,891below the sector's middle half-€89,549below the sector's middle half▼ 130%€70,762above the sector's middle half
Equity€1.8mabove the sector's middle half▼ 1.6%€1.8mabove the sector's middle half▲ 0.1%€1.8mabove the sector's middle half▼ 2.1%€1.7mabove the sector's middle half▼ 5.0%€1.8mabove the sector's middle half▲ 4.2%
Total assets€4.3mabove the sector's middle half▼ 1.1%€4.3mabove the sector's middle half▼ 0.9%€4.0mabove the sector's middle half▼ 5.0%€3.9mabove the sector's middle half▼ 4.6%€4.0mabove the sector's middle half▲ 3.0%
Debt€2.5m▼ 0.7%€2.4m▼ 1.7%€2.2m▼ 7.3%€2.1m▼ 4.3%€2.2m▲ 2.0%
Working capital-€1.3mbelow the sector's middle half▼ 5.6%-€1.3mbelow the sector's middle half▼ 4.3%-€1.3mbelow the sector's middle half▲ 1.3%-€1.4mbelow the sector's middle half▼ 9.0%-€1.5mbelow the sector's middle half▼ 0.5%
Solvency42.8%within the sector's middle half▼ 0.2pp43.2%within the sector's middle half▲ 0.4pp44.5%within the sector's middle half▲ 1.3pp44.3%within the sector's middle half▼ 0.2pp44.9%within the sector's middle half▲ 0.5pp
Current ratio0.29below the sector's middle half=0.27below the sector's middle half▼ 0.020.22below the sector's middle half▼ 0.050.17below the sector's middle half▼ 0.060.18below the sector's middle half▲ 0.01
Return on assets (ROA)-0.7%within the sector's middle half▼ 1.2pp0.0%within the sector's middle half▲ 0.7pp-1.0%within the sector's middle half▼ 1.0pp-2.3%within the sector's middle half▼ 1.4pp1.8%within the sector's middle half▲ 4.1pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 01, Crop and animal production, hunting and related service activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €96,629 after a loss of €56,821 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.0m
Fixed assets
€3.7m ▲ 2.5%
Current assets
€317,404 ▲ 9.7%
Equity and liabilities €4.0m
Equity
€1.8m ▲ 4.2%
Debt
€2.2m ▲ 2.0%
Debt's share of the balance-sheet total falls from 55.7% to 55.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€226,614▲
2024 · €64,066
Cash flow
€200,747▲
2024 · €31,338
Quick ratio
0.03▲
2024 · 0.03
Debt to equity
1.23▼
2024 · 1.26
ROE
4.0%▲
2024 · -5.2%
Interest coverage
7.86▲
2024 · 1.98
Debt ≤ 1 year
€1.8m▲
2024 · €1.7m
Debt > 1 year
€412,793▲
2024 · €394,944
Income taxes
€319▼
2024 · €553
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,732 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
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 14,732 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 | - | €20,000 | €826 | - | €28,936 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €111,739 | €112,926 | €121,693 | €120,887 | €129,984 | ▲ 7.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €6,695 | - | - | - |
| Other operating charges640/8 | €8,062 | €23,166 | €10,860 | €17,498 | €25,277 | ▲ 44.5% |
| Non-recurring operating charges66A | €4 | - | - | - | - | - |
| Gross operating margin9900 | €129,950 | €174,062 | €133,878 | €81,564 | €251,891 | ▲ 209% |
| Operating profit (loss)9901 | €10,145 | €37,970 | -€5,370 | -€56,821 | €96,629 | ▲ 270% |
| Financial income75/76B | €0 | €849 | €21 | €133 | €3,291 | ▲ 2,368% |
| Recurring financial income75 | €0 | €849 | €21 | €133 | €57 | ▼ 57.3% |
| Non-recurring financial income76B | - | - | - | - | €3,234 | - |
| Financial charges65/66B | €40,077 | €36,806 | €33,008 | €32,309 | €28,840 | ▼ 10.7% |
| Recurring financial charges65 | €40,077 | €36,806 | €33,008 | €32,309 | €28,840 | ▼ 10.7% |
| Profit (loss) for the period before taxes9903 | -€29,932 | €2,013 | -€38,357 | -€88,996 | €71,081 | ▲ 180% |
| Income taxes67/77 | €630 | €622 | €534 | €553 | €319 | ▼ 42.4% |
| Profit (loss) for the period9904 | -€30,562 | €1,391 | -€38,891 | -€89,549 | €70,762 | ▲ 179% |
| Profit (loss) for the period to be appropriated9905 | -€30,562 | €1,391 | -€38,891 | -€89,549 | €70,762 | ▲ 179% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.3m | €4.3m | €4.0m | €3.9m | €4.0m | ▲ 3.0% |
| Fixed assets21/28 | €3.8m | €3.8m | €3.7m | €3.6m | €3.7m | ▲ 2.5% |
| Tangible fixed assets22/27 | €3.8m | €3.8m | €3.7m | €3.6m | €3.7m | ▲ 2.5% |
| Land and buildings22 | €3.7m | €3.6m | €3.5m | €3.5m | €3.5m | ▲ 0.1% |
| Plant, machinery and equipment23 | €56,252 | €70,216 | €47,736 | €34,225 | €26,069 | ▼ 23.8% |
| Furniture and vehicles24 | €3,030 | €1,830 | €16,917 | €27,014 | €137,038 | ▲ 407% |
| Leasing and similar rights25 | - | €71,466 | €56,022 | €40,578 | €25,134 | ▼ 38.1% |
| Financial fixed assets28 | €2,969 | €2,969 | €2,969 | €2,969 | €0 | ▼ 100% |
| Current assets29/58 | €531,744 | €496,847 | €382,944 | €289,290 | €317,404 | ▲ 9.7% |
| Stocks and contracts in progress3 | €459,049 | €385,783 | €303,980 | €237,975 | €260,071 | ▲ 9.3% |
| Stocks30/36 | €459,049 | €385,783 | €303,980 | €237,975 | €260,071 | ▲ 9.3% |
| Amounts receivable within one year40/41 | €20,892 | €59,534 | €31,979 | €30,089 | €37,405 | ▲ 24.3% |
| Trade receivables40 | €20,892 | €59,534 | €31,979 | €29,687 | €29,064 | ▼ 2.1% |
| Other amounts receivable41 | - | - | - | €402 | €8,340 | ▲ 1,976% |
| Cash at bank and in hand54/58 | €3,620 | €3,381 | €1,187 | €4,035 | €2,893 | ▼ 28.3% |
| Deferred charges and accrued income490/1 | €48,183 | €48,148 | €45,797 | €17,191 | €17,035 | ▼ 0.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.3m | €4.3m | €4.0m | €3.9m | €4.0m | ▲ 3.0% |
| Equity10/15 | €1.8m | €1.8m | €1.8m | €1.7m | €1.8m | ▲ 4.2% |
| Contributions10/11 | €2.2m | €2.2m | €2.2m | €2.2m | €2.2m | = |
| Reserves13 | €48,637 | €42,440 | €42,440 | €42,440 | €42,440 | = |
| Non-distributable reserves130/1 | €6,197 | - | - | - | - | - |
| Reserves not available under the articles1311 | €6,197 | - | - | - | - | - |
| Distributable reserves133 | €42,440 | €42,440 | €42,440 | €42,440 | €42,440 | = |
| Profit (loss) carried forward14 | -€448,955 | -€447,563 | -€486,455 | -€576,004 | -€505,241 | ▲ 12.3% |
| Investment grants15 | - | - | - | - | €1,736 | - |
| Amounts payable17/49 | €2.5m | €2.4m | €2.2m | €2.1m | €2.2m | ▲ 2.0% |
| Amounts payable after more than one year17 | €642,549 | €565,863 | €527,219 | €394,944 | €412,793 | ▲ 4.5% |
| Financial debts170/4 | €642,549 | €565,863 | €527,219 | €394,944 | €412,793 | ▲ 4.5% |
| Amounts payable within one year42/48 | €1.8m | €1.8m | €1.7m | €1.7m | €1.8m | ▲ 2.0% |
| Current portion of amounts payable after more than one year42 | €122,509 | €130,476 | €126,643 | €132,275 | €163,835 | ▲ 23.9% |
| Trade debts44 | €178,790 | €213,730 | €122,819 | €249,234 | €321,111 | ▲ 28.8% |
| Suppliers440/4 | €178,790 | €213,730 | €122,819 | €249,234 | €321,111 | ▲ 28.8% |
| Taxes, remuneration and social security45 | €21,328 | €9,840 | €11,661 | €8,797 | €2,139 | ▼ 75.7% |
| Taxes450/3 | €21,328 | €9,840 | €11,661 | €8,797 | €2,139 | ▼ 75.7% |
| Other amounts payable47/48 | €1.5m | €1.5m | €1.4m | €1.3m | €1.3m | ▼ 4.6% |
| Accrued charges and deferred income492/3 | €1,191 | €16,166 | €10,029 | €19,420 | €9,248 | ▼ 52.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€30,562 | €1,391 | -€38,891 | -€89,549 | €70,762 | ▲ 179% |
| + Depreciation and write-downs630 | €111,739 | €112,926 | €121,693 | €120,887 | €129,984 | ▲ 7.5% |
| Operating cash flow (approximation) | €81,177 | €114,318 | €82,801 | €31,338 | €200,747 | ▲ 541% |
| Investment in fixed assets (approximation) | - | -€108,387 | -€21,162 | -€27,825 | -€217,575 | ▼ 682% |
| Change in cash | - | -€239 | -€2,194 | €2,848 | -€1,142 | ▼ 140% |
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
08-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 39 days late
11-05
State Gazette act
Appointment: Arnold Vanderhaeghe (director)3 facts ▸
State Gazette act
Appointment: Arnold Vanderhaeghe (director)
3 facts ▸
- General meeting, 31-03-2026
- Director appointment, Arnold Vanderhaeghe (director)
- Other statement, handelsverbod, niet getroffen van enig handelsverbod
2025
31-12
Financial
Back to profitnet €70,762
Net result €70,762 after 2 loss-making years.
28-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 89 days late
2024
31-12
Financial
Weakest financial yearnet -€89,549
Net result drops to -€89,549, the lowest in the series; recovery starts the following year.
26-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 57 days late
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
2022
31-12
Financial
Back to profitnet €1,391
Net result €1,391 after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 61 days late
2019
31-12
Financial
Highest result since 2018net €77,144 ▲5.4%
Operating result €142,504, net result €77,144, both a record.
Show earlier events
24-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
24-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 5 acts read
About the unread acts
Of the 5 Belgian State Gazette acts we know for this company, 1 has been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
1 director, last change in 2026
Arnold Vanderhaeghe
CurrentDirector · since 01-04-2026
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
4 of this company's 5 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, Veurne · 1 establishment unit since 1991
Ground area
1,267 m²
Building footprint
207 m²
Volume, LiDAR
1,175 m³
Parcel 38025D0190/00E000, Flanders · tallest building 9.9 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
's Heerwillems 15, 8630 Veurne
since 19912.053.899.279
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38025D0190/00E000 | Flanders | 1,266 m² | 1 · 207 m² | 9.9 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 |
|---|---|
| Arnold Vanderhaeghe |
|
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Public money · subsidies and aid
Flemish government
2023 · 2 entries · 1,400 EUR awarded · 1,400 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 2 | 1,400 EUR | 1,400 EUR |
Recognitions · licences · registrations
Food safety, FASFC
1 siteVeurne2.053.899.279
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Of 20,582 companies in sector 01500 we hold annual accounts for 1,149. 663 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
Founded19-06-1991
Fiscal year end31-12
Activities, NACEBEL 2025
01500Mixed farming
01410Raising of dairy cattle
46421Wholesale trade
46424Wholesale trade
46425Wholesale trade
Contact
E-mail
patrick@goodmeat.be
Phone
0475 23 13 87
E-invoicing
Reachable via Peppol
Peppol ID
0208:0444559611
Also
9925:BE0444559611
Registered
27-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.