VCAR ENGINEERING
ActiveSummary
VCAR ENGINEERING has been active since 2017 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.0m and a net result of €219,595. Equity is growing by about 33% per year across the filed financial years. Its solvency ranks better than 64% of 39,200 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Financials · financial year 2025, micro format
In the rankings
#4 company by equity in Olne, Professional and technical services sector#6 company by total assets in Olne, Professional and technical services sector
Turnover
€219,000▲ 21.6%
2021 · €180,047
EBIT margin
70.2%▲ 54.9pp
2021 · 15.2%
Net result
€219,595▲ 7.1%
2024 · €205,044
Working capital
€360,849▲ 97.6%
2024 · €182,594
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result has risen four years in a row; 2025 is 4% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€0.2m
2022
Operating result€0.3m
2025
Net result€0.2m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€1.5m
2025
Equity€1.0m
2025
Debt€0.5m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.4m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin70.2%
2022
Return on assets (ROA)14.6%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency69.0%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio3.14
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy 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
Turnover€0.2m€0.2m▲ 21.6%
Operating result€0.09m-€0.1m▲ 15.0%€0.1m▲ 3.4%€0.03m▼ 72.9%€0.2m▲ 460%€0.3m▲ 96.9%€0.3m▲ 0.2%€0.3m▲ 4.1%
Net result€0.06m-€0.06m▼ 2.8%€0.07mabove the sector's middle half▲ 19.8%€0.02mwithin the sector's middle half▼ 71.1%€0.1mabove the sector's middle half▲ 421%€0.2mabove the sector's middle half▲ 85.9%€0.2mabove the sector's middle half▼ 1.0%€0.2mabove the sector's middle half▲ 7.1%
EBIT margin15.2%70.2%▲ 54.9pp
Equity€0.1m-€0.2m▲ 45.7%€0.3mabove the sector's middle half▲ 37.6%€0.3mabove the sector's middle half▲ 7.9%€0.4mabove the sector's middle half▲ 38.1%€0.6mabove the sector's middle half▲ 51.3%€0.8mabove the sector's middle half▲ 33.6%€1.0mabove the sector's middle half▲ 26.9%
Total assets€0.2m-€0.2m▲ 41.8%€0.4mwithin the sector's middle half▲ 77.6%€0.4mwithin the sector's middle half▼ 7.8%€1.1mabove the sector's middle half▲ 205%€1.1mabove the sector's middle half▼ 2.2%€1.3mabove the sector's middle half▲ 16.0%€1.5mabove the sector's middle half▲ 15.1%
Debt€0.03m-€0.03m▲ 22.6%€0.1m▲ 314%€0.08m▼ 38.7%€0.7m▲ 780%€0.5m▼ 31.1%€0.5m▼ 4.9%€0.5m▼ 4.6%
Working capital€0.08m-€0.1m▲ 64.6%€0.03mwithin the sector's middle half▼ 72.9%€0.05mwithin the sector's middle half▲ 52.5%-€0.007mbelow the sector's middle half€0.01mwithin the sector's middle half€0.2mabove the sector's middle half▲ 16×€0.4mabove the sector's middle half▲ 97.6%
Solvency83.2%-85.5%▲ 2.3pp66.2%within the sector's middle half▼ 19.3pp77.5%above the sector's middle half▲ 11.3pp35.1%within the sector's middle half▼ 42.4pp54.3%within the sector's middle half▲ 19.2pp62.6%within the sector's middle half▲ 8.2pp69.0%within the sector's middle half▲ 6.4pp
Current ratio3.80-4.76▲ 0.961.32within the sector's middle half▼ 3.441.80within the sector's middle half▲ 0.480.96below the sector's middle half▼ 0.841.09within the sector's middle half▲ 0.132.26within the sector's middle half▲ 1.173.14within the sector's middle half▲ 0.88
Return on assets (ROA)39.2%-26.8%▼ 12.3pp18.1%within the sector's middle half▼ 8.7pp5.7%within the sector's middle half▼ 12.4pp9.7%within the sector's middle half▲ 4.0pp18.4%within the sector's middle half▲ 8.7pp15.7%within the sector's middle half▼ 2.7pp14.6%within the sector's middle half▼ 1.1pp
above
within
below
the middle half of NACE 70, Activities of head offices; management consultancy 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.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.5m
Fixed assets
€971,573 ▼ 0.5%
Current assets
€529,464 ▲ 61.9%
Equity and liabilities €1.5m
Equity
€1.0m ▲ 26.9%
Debt
€465,678 ▼ 4.6%
Debt's share of the balance-sheet total falls from 37.4% to 31.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€320,879▲
2024 · €314,228
Cash flow
€224,859▲
2024 · €216,197
Quick ratio
2.93▲
2024 · 1.99
Debt to equity
0.45▼
2024 · 0.60
ROE
21.2%▼
2024 · 25.1%
Interest coverage
12.55▲
2024 · 11.34
Debt ≤ 1 year
€168,615▲
2024 · €144,453
Debt > 1 year
€297,064▼
2024 · €343,668
Income taxes
€73,590▲
2024 · €70,330
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 |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | €180,047 | €219,000 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €152,153 | €198,180 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €5,889 | €10,865 | €11,153 | €11,153 | €11,153 | €5,264 | ▼ 52.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | - | €3,800 | - |
| Other operating charges640/8 | - | - | - | €376 | €380 | €404 | €430 | €448 | ▲ 4.0% |
| Gross operating margin9900 | €85,018 | €101,541 | €117,280 | €38,654 | €165,172 | €314,003 | €314,659 | €325,126 | ▲ 3.3% |
| Operating profit (loss)9901 | €85,018 | €97,741 | €101,017 | €27,413 | €153,639 | €302,446 | €303,075 | €315,614 | ▲ 4.1% |
| Financial income75/76B | - | - | - | - | - | €0 | €1 | €3,129 | ▲ 2,251× |
| Recurring financial income75 | €100 | - | - | - | - | €0 | €1 | €3,129 | ▲ 2,251× |
| Financial charges65/66B | - | - | - | €43 | €2,195 | €24,130 | €27,703 | €25,559 | ▼ 7.7% |
| Recurring financial charges65 | €36 | €42 | €924 | €43 | €2,195 | €24,130 | €27,703 | €25,559 | ▼ 7.7% |
| Profit (loss) for the period before taxes9903 | €85,082 | €97,699 | €100,094 | €27,369 | €151,443 | €278,317 | €275,373 | €293,185 | ▲ 6.5% |
| Income taxes67/77 | €21,511 | €35,913 | €26,083 | €5,976 | €40,054 | €71,275 | €70,330 | €73,590 | ▲ 4.6% |
| Profit (loss) for the period9904 | €63,571 | €61,786 | €74,011 | €21,394 | €111,389 | €207,042 | €205,044 | €219,595 | ▲ 7.1% |
| Profit (loss) for the period to be appropriated9905 | €63,571 | €61,786 | €74,011 | €21,394 | €111,389 | €207,042 | €205,044 | €219,595 | ▲ 7.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.2m | €0.2m | €0.4m | €0.4m | €1.1m | €1.1m | €1.3m | €1.5m | ▲ 15.1% |
| Fixed assets21/28 | €0.06m | €0.07m | €0.3m | €0.3m | €1.0m | €1.0m | €1.0m | €1.0m | ▼ 0.5% |
| Tangible fixed assets22/27 | - | - | €0.05m | €0.04m | €0.03m | €0.02m | €0.006m | €288 | ▼ 94.8% |
| Plant, machinery and equipment23 | - | - | - | €0.002m | €0.001m | €0.001m | €0.001m | €288 | ▼ 56.7% |
| Furniture and vehicles24 | - | - | - | €0.04m | €0.03m | €0.02m | €0.005m | €0 | ▼ 100% |
| Financial fixed assets28 | €0.06m | €0.07m | €0.2m | €0.2m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Current assets29/58 | €0.1m | €0.2m | €0.1m | €0.1m | €0.1m | €0.1m | €0.3m | €0.5m | ▲ 61.9% |
| Stocks and contracts in progress3 | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.04m | €0.04m | ▼ 9.8% |
| Stocks30/36 | - | - | - | €0.03m | €0.03m | €0.03m | €0.04m | €0.04m | ▼ 9.8% |
| Amounts receivable within one year40/41 | - | €166 | €0.02m | €0.08m | €0.05m | - | €0.05m | €0.05m | ▲ 4.7% |
| Trade receivables40 | - | - | - | €0.06m | €0.04m | - | €0.04m | €0.04m | ▲ 1.9% |
| Other amounts receivable41 | - | - | - | €0.01m | €0.01m | - | €0.007m | €0.008m | ▲ 21.1% |
| Cash at bank and in hand54/58 | €0.1m | €0.1m | €0.09m | €0.01m | €0.05m | €0.09m | €0.2m | €0.4m | ▲ 93.7% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.03m | €0.02m | €0.02m | €0.02m | ▼ 18.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.2m | €0.2m | €0.4m | €0.4m | €1.1m | €1.1m | €1.3m | €1.5m | ▲ 15.1% |
| Equity10/15 | €0.1m | €0.2m | €0.3m | €0.3m | €0.4m | €0.6m | €0.8m | €1.0m | ▲ 26.9% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | €0.1m | €0.2m | €0.3m | €0.3m | €0.4m | €0.6m | €0.8m | €1.0m | ▲ 27.6% |
| Amounts payable17/49 | €0.03m | €0.03m | €0.1m | €0.08m | €0.7m | €0.5m | €0.5m | €0.5m | ▼ 4.6% |
| Amounts payable after more than one year17 | - | - | €0.03m | €0.02m | €0.6m | €0.4m | €0.3m | €0.3m | ▼ 13.6% |
| Financial debts170/4 | - | - | - | €0.02m | €0.4m | €0.2m | €0.2m | €0.1m | ▼ 24.1% |
| Other amounts payable178/9 | - | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Amounts payable within one year42/48 | €0.03m | €0.03m | €0.1m | €0.06m | €0.2m | €0.1m | €0.1m | €0.2m | ▲ 16.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.01m | €0.08m | €0.05m | €0.04m | €0.05m | ▲ 4.1% |
| Trade debts44 | €0.001m | €0.002m | €0.001m | €0.005m | €0.002m | €0.001m | €0.001m | €0.001m | ▼ 17.0% |
| Suppliers440/4 | - | - | - | €0.005m | €0.002m | €0.001m | €0.001m | €0.001m | ▼ 17.0% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.04m | €0.02m | €0.03m | €0.03m | ▲ 1.2% |
| Taxes450/3 | - | - | - | €0.01m | €0.04m | €0.02m | €0.03m | €0.03m | ▲ 1.2% |
| Other amounts payable47/48 | - | - | - | €0.03m | €0.04m | €0.05m | €0.07m | €0.1m | ▲ 30.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €63,571 | €61,786 | €74,011 | €21,394 | €111,389 | €207,042 | €205,044 | €219,595 | ▲ 7.1% |
| + Depreciation and write-downs630 | - | - | €5,889 | €10,865 | €11,153 | €11,153 | €11,153 | €5,264 | ▼ 52.8% |
| Operating cash flow (approximation) | €63,571 | €61,786 | €79,899 | €32,259 | €122,542 | €218,195 | €216,197 | €224,859 | ▲ 4.0% |
| Investment in fixed assets (approximation) | - | -€12,482 | -€203,876 | -€1,885 | -€750,000 | €0 | €0 | €0 | - |
| Change in cash | - | €21,095 | -€30,497 | -€81,566 | €33,095 | €40,076 | €135,951 | €207,669 | ▲ 52.8% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (9)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 19-05-2026 | 2026-00113917 |
| 31-12-2024 | micro format | 26-05-2025 | 2025-00105908 |
| 31-12-2023 | micro format | 28-05-2024 | 2024-00097667 |
| 31-12-2022 | micro format | 30-06-2023 | 2023-00181442 |
| 31-12-2021 | micro format | 29-06-2022 | 2022-20106459 |
| 31-12-2020 | micro format | 10-06-2021 | 2021-19200439 |
| 31-12-2019 | micro format | 16-06-2020 | 2020-16900388 |
| 31-12-2018 | micro format | 24-06-2019 | 2019-22500363 |
| 31-12-2017 | micro format | 22-06-2018 | 2018-21500379 |
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Of the 82,511 active companies whose main activity is business and other management consultancy (NACE 70200), figures are known for 54,625. 27,755 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.