VDACO
ActiveSummary
VDACO has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€332,719) and a net result of -€161,510. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 18% of 391 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability0=
Solvency0▼-10
Growth32=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.93 against 1.5 in 2023; short-term debt: 30% and cash: 2.9% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-42%
Return on assets
-20.4%
Age of the figures
21 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 11
Relative position
BE, all sectors
reference
Manufacture of beverages (NACE 11)
about 8% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year -€332,719
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-10-2025, 92 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
92 d late
2023
68 d late
2022
65 d late
2021
111 d early
2020
41 d late
2019
96 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 42 days after the deadline; the sector median for financial year 2024 is 2 days before the deadline, and 43% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
-€332,719▼ 94.3%
2023 · -€171,209
Total assets
€791,369▼ 29.4%
2023 · €1.1m
Net result
-€161,510▲ 20.3%
2023 · -€202,601
Working capital
-€16,763
2023 · €153,939
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 11, Manufacture of beverages, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€34,928▲ 70.4%€69,315€37,635▼ 45.7%-€190,504-€146,133▲ 23.3%
Net result-€48,791below the sector's middle half▲ 68.8%€54,953above the sector's middle half€29,221above the sector's middle half▼ 46.8%-€202,601below the sector's middle half-€161,510below the sector's middle half▲ 20.3%
Equity-€52,783below the sector's middle half▼ 1,222%€2,170within the sector's middle half€31,392within the sector's middle half▲ 1,346%-€171,209below the sector's middle half-€332,719below the sector's middle half▼ 94.3%
Total assets€1.3mabove the sector's middle half▼ 2.6%€1.2mabove the sector's middle half▼ 1.9%€1.1mabove the sector's middle half▼ 14.3%€1.1mabove the sector's middle half▲ 5.7%€791,369above the sector's middle half▼ 29.4%
Debt€1.3m▲ 1.2%€1.2m▼ 6.0%€1.0m▼ 16.7%€1.3m▲ 25.6%€1.1m▼ 13.0%
Working capital€44,508within the sector's middle half▲ 687%-€1,099within the sector's middle half€77,571above the sector's middle half€153,939above the sector's middle half▲ 98.5%-€16,763within the sector's middle half
Solvency-4.2%within the sector's middle half▼ 3.9pp0.2%within the sector's middle half▲ 4.4pp3.0%within the sector's middle half▲ 2.8pp-15.3%within the sector's middle half▼ 18.2pp-42.0%below the sector's middle half▼ 26.8pp
Current ratio1.14within the sector's middle half▲ 0.121.00within the sector's middle half▼ 0.141.38within the sector's middle half▲ 0.381.50within the sector's middle half▲ 0.120.93within the sector's middle half▼ 0.57
Return on assets (ROA)-3.9%within the sector's middle half▲ 8.2pp4.4%within the sector's middle half▲ 8.3pp2.8%within the sector's middle half▼ 1.7pp-18.1%within the sector's middle half▼ 20.8pp-20.4%below the sector's middle half▼ 2.3pp
Staff (FTE)1.9within the sector's middle half▼ 13.6%1.9=2.3▲ 21.1%2.8▲ 21.7%1.3▼ 53.6%
above
within
below
the middle half (P25 to P75) of NACE 11, Manufacture of beverages, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2020 Net result +69% on 2019. The accounts now follow the micro schema, last year the abbreviated schema.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €146,133 in 2024 against €190,504 in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €791,369
Fixed assets
€570,472 ▼ 13.7%
Current assets
€220,897 ▼ 51.9%
Key figures and ratios
EBITDA
-€55,660▲
2023 · -€71,393
Cash flow
-€71,037▲
2023 · -€83,490
Quick ratio
0.38▼
2023 · 1.01
Debt to equity
-3.38▲
2023 · -7.54
Interest coverage
-3.62▲
2023 · -5.90
Debt ≤ 1 year
€237,660▼
2023 · €305,425
Debt > 1 year
€886,429▼
2023 · €986,094
Staff costs
€70,266▼
2023 · €113,680
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,639 companies that looked in July 2024 the way this one looks now, 4.1% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
4.1%
went bankrupt
9.8%
stopped otherwise
84%
still going
A further 2.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.5% 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 497,662 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% | 1.7% |
| 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 75% 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 6,639 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 | - | - | €1,990 | €12,000 | - | - |
| Remuneration, social security and pensions62 | - | €91,600 | €131,185 | €113,680 | €70,266 | ▼ 38.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €135,065 | €123,804 | €92,019 | €119,111 | €90,473 | ▼ 24.0% |
| Other operating charges640/8 | - | €11,669 | €5,723 | €6,843 | €6,756 | ▼ 1.3% |
| Non-recurring operating charges66A | - | - | €1,327 | - | - | - |
| Gross operating margin9900 | €172,185 | €296,388 | €267,888 | €49,130 | €21,363 | ▼ 56.5% |
| Operating profit (loss)9901 | -€34,928 | €69,315 | €37,635 | -€190,504 | -€146,133 | ▲ 23.3% |
| Financial income75/76B | - | €96 | €457 | €1 | - | - |
| Recurring financial income75 | €1 | €96 | €457 | €1 | - | - |
| Financial charges65/66B | - | €14,457 | €8,871 | €12,098 | €15,377 | ▲ 27.1% |
| Recurring financial charges65 | €13,865 | €14,457 | €8,871 | €12,098 | €15,377 | ▲ 27.1% |
| Profit (loss) for the period before taxes9903 | -€48,791 | €54,953 | €29,221 | -€202,601 | -€161,510 | ▲ 20.3% |
| Profit (loss) for the period9904 | -€48,791 | €54,953 | €29,221 | -€202,601 | -€161,510 | ▲ 20.3% |
| Profit (loss) for the period to be appropriated9905 | -€48,791 | €54,953 | €29,221 | -€202,601 | -€161,510 | ▲ 20.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.3m | €1.2m | €1.1m | €1.1m | €791,369 | ▼ 29.4% |
| Fixed assets21/28 | €892,093 | €866,908 | €778,021 | €660,946 | €570,472 | ▼ 13.7% |
| Tangible fixed assets22/27 | €891,843 | €866,658 | €777,771 | €660,696 | €570,222 | ▼ 13.7% |
| Land and buildings22 | - | €791,551 | €736,034 | €649,752 | €566,234 | ▼ 12.9% |
| Plant, machinery and equipment23 | - | €52,931 | €38,219 | €10,944 | €3,989 | ▼ 63.6% |
| Furniture and vehicles24 | - | €22,176 | €3,519 | - | - | - |
| Financial fixed assets28 | €250 | €250 | €250 | €250 | €250 | = |
| Current assets29/58 | €367,646 | €369,023 | €281,446 | €459,364 | €220,897 | ▼ 51.9% |
| Stocks and contracts in progress3 | €210,487 | €212,265 | €201,970 | €151,587 | €129,757 | ▼ 14.4% |
| Stocks30/36 | - | €212,265 | €201,970 | €151,587 | €129,757 | ▼ 14.4% |
| Amounts receivable within one year40/41 | €126,187 | €122,533 | €57,260 | €78,615 | €68,446 | ▼ 12.9% |
| Trade receivables40 | - | €108,388 | €42,604 | €54,396 | €43,350 | ▼ 20.3% |
| Other amounts receivable41 | - | €14,145 | €14,656 | €24,220 | €25,096 | ▲ 3.6% |
| Cash at bank and in hand54/58 | €30,972 | €34,225 | €22,216 | €229,162 | €22,693 | ▼ 90.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.3m | €1.2m | €1.1m | €1.1m | €791,369 | ▼ 29.4% |
| Equity10/15 | -€52,783 | €2,170 | €31,392 | -€171,209 | -€332,719 | ▼ 94.3% |
| Contributions10/11 | - | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Reserves13 | €127,178 | €127,178 | €127,178 | €127,178 | €127,178 | = |
| Non-distributable reserves130/1 | - | €2,500 | €2,500 | - | - | - |
| Reserves not available under the articles1311 | - | €2,500 | €2,500 | - | - | - |
| Distributable reserves133 | - | €124,678 | €124,678 | €127,178 | €127,178 | = |
| Profit (loss) carried forward14 | -€204,961 | -€150,008 | -€120,787 | -€323,387 | -€484,898 | ▼ 49.9% |
| Amounts payable17/49 | €1.3m | €1.2m | €1.0m | €1.3m | €1.1m | ▼ 13.0% |
| Amounts payable after more than one year17 | €989,384 | €863,638 | €824,200 | €986,094 | €886,429 | ▼ 10.1% |
| Financial debts170/4 | - | €504,485 | €468,047 | €634,893 | €549,110 | ▼ 13.5% |
| Other amounts payable178/9 | - | €359,154 | €356,154 | €351,201 | €337,319 | ▼ 4.0% |
| Amounts payable within one year42/48 | €323,137 | €370,122 | €203,875 | €305,425 | €237,660 | ▼ 22.2% |
| Current portion of amounts payable after more than one year42 | - | €33,587 | €27,338 | €59,330 | €61,428 | ▲ 3.5% |
| Financial debts43 | - | €34,000 | €25,000 | €49,500 | €30,000 | ▼ 39.4% |
| Credit institutions430/8 | - | €34,000 | €25,000 | €49,500 | €30,000 | ▼ 39.4% |
| Trade debts44 | €207,728 | €184,226 | €80,115 | €59,745 | €42,788 | ▼ 28.4% |
| Suppliers440/4 | - | €184,226 | €80,115 | €59,745 | €42,788 | ▼ 28.4% |
| Advances received on contracts in progress46 | - | €14,127 | €14,127 | €14,127 | €14,127 | = |
| Taxes, remuneration and social security45 | - | €81,074 | €22,350 | €81,997 | €43,266 | ▼ 47.2% |
| Taxes450/3 | - | €54,615 | €16,552 | €30,944 | €18,833 | ▼ 39.1% |
| Remuneration and social security454/9 | - | €26,459 | €5,798 | €51,053 | €24,433 | ▼ 52.1% |
| Other amounts payable47/48 | - | €23,108 | €34,945 | €40,726 | €46,051 | ▲ 13.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€48,791 | €54,953 | €29,221 | -€202,601 | -€161,510 | ▲ 20.3% |
| + Depreciation and write-downs630 | €135,065 | €123,804 | €92,019 | €119,111 | €90,473 | ▼ 24.0% |
| Operating cash flow (approximation) | €86,274 | €178,757 | €121,241 | -€83,490 | -€71,037 | ▲ 14.9% |
| Investment in fixed assets (approximation) | - | -€98,619 | -€3,133 | -€2,035 | €0 | ▲ 100% |
| Change in cash | - | €3,253 | -€12,009 | €206,946 | -€206,468 | ▼ 200% |
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
31-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 92 days late
2024
07-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 68 days late
2023
31-12
Financial
Weakest financial yearnet -€202,601
Net result drops to -€202,601, the lowest in the series; recovery starts the following year.
04-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 65 days late
2022
11-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €54,953
Net result €54,953 after 2 loss-making years.
10-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 41 days late
2020
04-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 96 days late
2019
31-12
Financial
Liquidity doublescurrent ratio 1.01
Current ratio from 0.46 to 1.01; short-term debt falls from €702,108 to €381,983.
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
25-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 56 days late
2016
07-06
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 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 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, Vleteren · 1 establishment unit since 2009
Ground area
364 m²
Building footprint
136 m²
Volume, LiDAR
567 m³
Parcel 33018A0528/00L000, Flanders · tallest building 7.1 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
VDACO
since 20092.210.685.725
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 33018A0528/00L000 | Flanders | 364 m² | 1 · 136 m² | 7.1 m · 1 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteVleteren2.210.685.725
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Of 729 companies in sector 11050 we hold annual accounts for 352. 227 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
Founded01-01-1968
Fiscal year end31-12
Activities, NACEBEL 2025
11050Manufacture of beer
46170Agents in the wholesale of food, beverages and tobacco
E-invoicing
Reachable via Peppol
Peppol ID
0208:0405271047
Also
9925:BE0405271047
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.