VCAP
ActiveSummary
VCAP has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €516,492 and a net result of €97,959. Equity is growing by ~24.8% per year across the filed fiscal years. Its solvency ranks better than 90% of 36380 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability89▼-11
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40,000 at 30 days acceptable
Liquidity ample (current ratio 6.06 against 5.93 in 2023; short-term debt: 15.3% and cash: 24.4% of total assets), and 15.3% of the assets are financed with debt.
Credit check for your own amount and term
Open the credit simulator : 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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 2024Solvency, return and age of the figures
Solvency
84.7%
Return on assets
16.1%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-06-2025, 38 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
38 d early
2023
14 d late
2022
60 d early
2021
62 d early
2020
36 d early
2019
91 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 15 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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 simulator What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check 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?Subsidy mirror
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Equity
€516,492▲ 17.0%
2023 · €441,533
Total assets
€609,867▲ 17.1%
2023 · €520,871
Net result
€97,959▼ 33.5%
2023 · €147,214
Working capital
€472,635▲ 21.7%
2023 · €388,406
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€37,595▲ 79.4%€107,565▲ 186%€112,684▲ 4.8%€207,366▲ 84.0%€124,128▼ 40.1%
Net result€24,974▲ 64.6%€84,610▲ 239%€82,778▼ 2.2%€147,214▲ 77.8%€97,959▼ 33.5%
Equity€190,431▲ 15.1%€253,541▲ 33.1%€316,319▲ 24.8%€441,533▲ 39.6%€516,492▲ 17.0%
Total assets€208,277▲ 11.8%€302,806▲ 45.4%€370,444▲ 22.3%€520,871▲ 40.6%€609,867▲ 17.1%
Debt€17,846▼ 14.1%€49,265▲ 176%€54,124▲ 9.9%€79,338▲ 46.6%€93,374▲ 17.7%
Working capital€177,357▲ 24.5%€227,835▲ 28.5%€293,798▲ 29.0%€388,406▲ 32.2%€472,635▲ 21.7%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 40% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €609,867
Fixed assets
€43,857 ▼ 18.2%
Current assets
€566,009 ▲ 21.1%
Equity and liabilities €609,867
Equity
€516,492 ▲ 17.0%
Debt
€93,374 ▲ 17.7%
Debt's share of the balance-sheet total rises from 15.2% to 15.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€137,226▼
2023 · €214,961
Cash flow
€111,058▼
2023 · €154,808
Current ratio
6.06▲
2023 · 5.93
Quick ratio
5.96▲
2023 · 5.76
Debt to equity
0.18▲
2023 · 0.18
ROE
19.0%▼
2023 · 33.3%
ROA
16.1%▼
2023 · 28.3%
Interest coverage
424.61▼
2023 · 659.04
Debt ≤ 1 year
€93,374▲
2023 · €78,858
Income taxes
€35,785▼
2023 · €60,166
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,792 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
3.2%
stopped otherwise
97%
still going
For this company itself Checked computes a higher bankruptcy probability: 1.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 17,792 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €876 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,306 | €14,008 | €6,452 | €7,594 | €13,099 | ▲ 72.5% |
| Other operating charges640/8 | - | €1,445 | €1,657 | €1,869 | €1,589 | ▼ 15.0% |
| Non-recurring operating charges66A | - | - | - | €1,488 | - | - |
| Gross operating margin9900 | €51,056 | €123,018 | €120,793 | €218,318 | €138,815 | ▼ 36.4% |
| Operating profit (loss)9901 | €37,595 | €107,565 | €112,684 | €207,366 | €124,128 | ▼ 40.1% |
| Financial income75/76B | - | €93 | €26 | €339 | €9,940 | ▲ 2,828% |
| Recurring financial income75 | €186 | €93 | €26 | €339 | €9,940 | ▲ 2,828% |
| Financial charges65/66B | - | €295 | €353 | €326 | €323 | ▼ 0.9% |
| Recurring financial charges65 | €344 | €295 | €353 | €326 | €323 | ▼ 0.9% |
| Profit (loss) for the period before taxes9903 | €37,437 | €107,363 | €112,358 | €207,380 | €133,744 | ▼ 35.5% |
| Income taxes67/77 | €12,463 | €22,753 | €29,579 | €60,166 | €35,785 | ▼ 40.5% |
| Profit (loss) for the period9904 | €24,974 | €84,610 | €82,778 | €147,214 | €97,959 | ▼ 33.5% |
| Profit (loss) for the period to be appropriated9905 | €24,974 | €84,610 | €82,778 | €147,214 | €97,959 | ▼ 33.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €208,277 | €302,806 | €370,444 | €520,871 | €609,867 | ▲ 17.1% |
| Fixed assets21/28 | €13,074 | €25,706 | €22,521 | €53,607 | €43,857 | ▼ 18.2% |
| Tangible fixed assets22/27 | €13,074 | €25,706 | €22,521 | €53,607 | €43,857 | ▼ 18.2% |
| Plant, machinery and equipment23 | - | €1,676 | €1,781 | €10,672 | €8,160 | ▼ 23.5% |
| Furniture and vehicles24 | - | €24,030 | €20,740 | €29,809 | €22,292 | ▼ 25.2% |
| Other tangible fixed assets26 | - | - | - | €13,127 | €13,405 | ▲ 2.1% |
| Current assets29/58 | €195,203 | €277,100 | €347,922 | €467,264 | €566,009 | ▲ 21.1% |
| Stocks and contracts in progress3 | - | €15,479 | €19,490 | €12,946 | €9,077 | ▼ 29.9% |
| Stocks30/36 | - | €15,479 | €19,490 | €12,946 | €9,077 | ▼ 29.9% |
| Amounts receivable within one year40/41 | €16,086 | €2,356 | €17,933 | €37,487 | €2,098 | ▼ 94.4% |
| Trade receivables40 | - | - | €6,630 | €35,615 | €1,884 | ▼ 94.7% |
| Other amounts receivable41 | - | €2,356 | €11,303 | €1,872 | €214 | ▼ 88.6% |
| Current investments50/53 | - | - | - | €300,000 | €400,684 | ▲ 33.6% |
| Cash at bank and in hand54/58 | €176,519 | €254,794 | €305,545 | €112,271 | €149,028 | ▲ 32.7% |
| Deferred charges and accrued income490/1 | - | €4,471 | €4,955 | €4,560 | €5,122 | ▲ 12.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €208,277 | €302,806 | €370,444 | €520,871 | €609,867 | ▲ 17.1% |
| Equity10/15 | €190,431 | €253,541 | €316,319 | €441,533 | €516,492 | ▲ 17.0% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €171,831 | €234,941 | €297,719 | €422,933 | €497,892 | ▲ 17.7% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | €233,081 | €295,859 | €422,933 | €497,892 | ▲ 17.7% |
| Amounts payable17/49 | €17,846 | €49,265 | €54,124 | €79,338 | €93,374 | ▲ 17.7% |
| Amounts payable within one year42/48 | €17,846 | €49,265 | €54,124 | €78,858 | €93,374 | ▲ 18.4% |
| Trade debts44 | €3,072 | €13,586 | €9,169 | €2,972 | €4,341 | ▲ 46.1% |
| Suppliers440/4 | - | €13,586 | €9,169 | €2,972 | €4,341 | ▲ 46.1% |
| Taxes, remuneration and social security45 | - | €2,753 | €7,090 | €30,330 | €41,647 | ▲ 37.3% |
| Taxes450/3 | - | €2,753 | €7,090 | €30,085 | €41,647 | ▲ 38.4% |
| Remuneration and social security454/9 | - | - | - | €245 | - | - |
| Other amounts payable47/48 | - | €32,925 | €37,866 | €45,556 | €47,386 | ▲ 4.0% |
| Accrued charges and deferred income492/3 | - | - | - | €480 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,974 | €84,610 | €82,778 | €147,214 | €97,959 | ▼ 33.5% |
| + Depreciation and write-downs630 | €12,306 | €14,008 | €6,452 | €7,594 | €13,099 | ▲ 72.5% |
| Operating cash flow (approximation) | €37,280 | €98,618 | €89,230 | €154,808 | €111,058 | ▼ 28.3% |
| Investment in fixed assets (approximation) | - | -€26,640 | -€3,267 | -€38,680 | -€3,349 | ▲ 91.3% |
| Change in cash | - | €78,274 | €50,751 | -€193,274 | €36,758 | ▲ 119% |
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
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €500,000Eq €516,492 ▲17%
7 profitable years in a row build equity to €516,492.
14-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 14 days late
2023
31-12
Financial
Highest result since 2018net €147,214 ▲77.8%
Operating result €207,366, net result €147,214, both a record.
01-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €200,000Eq €253,541 ▲33.1%
4 profitable years in a row build equity to €253,541.
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
2019
31-12
Financial
Weakest financial yearnet €15,177 ▼14.5%
Net result drops to €15,177, the lowest in the series; recovery starts the following year.
05-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 5 days late
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
19-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
24-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Gistel · 2 establishment units since 2009
Ground area
3,545 m²
Building footprint
503 m²
Volume, LiDAR
2,130 m³
2 parcels, Flanders · tallest building 7.4 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
VCAP bvba
since 20092.176.210.638
Konijnenboslaan 40, 8470 Gistel
since 20142.231.600.905
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35005D0449/00A000 | Flanders | 2,137 m² | 1 · 280 m² | 5.5 m · 1 fl. |
| 38019A0088/00G002 | Flanders | 1,408 m² | 1 · 223 m² | 7.4 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.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 360 EUR awarded · 360 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 360 EUR | 360 EUR |
Similar companies · same sector, comparable size
CALLEBAUT SCHRIJNWERKERIJ
BE 0808.963.667
Dilbeek · Eq €517,007
PALS DAKWERKEN-SANITAIR
BE 0898.800.317
Westerlo · Eq €515,254
VEDABO
BE 0437.387.153
Heist-op-den-Berg · Eq €517,816
DAKWERKEN DE CROO
BE 0450.410.590
Kortrijk · Eq €519,106
D-Max Solutions
BE 0834.959.667
Westerlo · Eq €513,772
Of 8,574 companies in sector 43410 we hold annual accounts for 4,367. 2,825 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
Founded16-12-2008
Fiscal year end31-12
Activities, NACEBEL 2025
43410Roofing work
43211General electrical installation work
43221Plumbing work
43421Specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0808445015
Also
9925:BE0808445015
Registered
04-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.