Checked.be
Active
BE 0736.765.676Private limited company
VDB & Vader
Retiesebaan 116 ·2460 Kasterlee, Belgium· 6 yrs active
Sector: Other amusement and recreation activities
(93299)
Conclusion
VDB & Vader has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €3k and a net result of €-10k. Equity is shrinking by ~25.6% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2025. Its solvency ranks better than 25% of 907 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.3% (low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €3k |
| Net result | €-10k |
| Staff (FTE) | 0.8 |
| Better than sector | 25% |
Financial profile
29
/ 100
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
Health
10
Profitability
0
Solvency
4
Growth
32
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
More than 3 years active
Founded in 2019, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
10
/ 100
Critical
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
No credit
negative equity or figures too weak
Score history
70
2020
86
2021
86
2022
2
2023
10
2024
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.31 (< 1.0)
-10
Quick ratio
Quick ratio 0.31 (< 0.6)
-5
Leverage
Debt/equity 15.85 (> 3.0)
-10
Profitability
Negatieve ROE -399%
-10
Interest coverage
Interest coverage -0.9× (< 1.5×)
-10
Profit trend
Net profit up YoY
+5
Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Financial overview
Annual accounts filed on 18-07-2025 with the NBB · fiscal year 2024 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
At this pace, equity would indicatively turn negative around fiscal year 2025, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2024 · NACE 93, Sports, amusement and recreation activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 5.9% | 30.9% | |
| Net result | €-10k | €18k | |
| Equity | €3k | €277k | |
| Gross operating margin | €30k | €283k | |
| Staff costs | €30k | €216k |
€-659
+91.2%
20-24
€-10k
+38.5%
20-24
€-1k
+83.4%
20-24
€43k
-24.4%
20-24
€3k
-80.0%
20-24
€-28k
-5.1%
20-24
1
-11.1%
20-24
€30k
-2.7%
20-24
€58
-94.1%
20-24
€40k
-8.4%
20-24
€40k
-8.4%
20-24
0.31
-22.2%
20-24
0.31
-22.2%
20-24
5.9%
-73.5%
20-24
15.85
+357.1%
20-24
-398.8%
-206.6%
20-24
-23.7%
+18.7%
20-24
-0.89
+92.4%
20-24
Figures by fiscal year and ratios
| Fiscal year | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - | - |
| EBITDA | €-659 | €-7k | €7k | €7k | €32k |
| Net profit | €-10k | €-16k | €310 | €464 | €25k |
| Cash flow | €-1k | €-8k | €6k | €6k | €31k |
| Staff costs | €30k | €30k | €131 | - | - |
| Income taxes | - | - | €58 | - | €970 |
| Dividends | - | - | - | - | - |
| Total assets | €43k | €56k | €30k | €31k | €39k |
| Equity | €3k | €13k | €29k | €29k | €28k |
| Debt | €40k | €44k | €689 | €2k | €10k |
| of which ≤ 1y | €40k | €44k | €689 | €2k | €10k |
| of which > 1y | - | - | - | - | - |
| Working capital | €-28k | €-26k | €11k | €5k | €2k |
| Employees (FTE) | 0.8 | 0.9 | - | - | - |
Ratios (computed)
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Current ratio | 0.31 | 0.40 | 17.12 | 3.77 | 1.15 |
| Quick ratio | 0.31 | 0.40 | 17.12 | 3.77 | 1.15 |
| Working capital ratio | -65.0% | -46.8% | 37.3% | 16.3% | 4.0% |
| Solvency | 5.9% | 22.4% | 97.7% | 94.1% | 73.0% |
| Debt / equity | 15.85 | 3.47 | 0.02 | 0.06 | - |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | -0.89 | -11.78 | 11.20 | 9.25 | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | -23.7% | -29.1% | 1.0% | 1.5% | 65.3% |
| ROE | -398.8% | -130.1% | 1.1% | 1.6% | 89.4% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2024
Full annual accounts (22 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €43k | €56k | €30k | €31k | €39k |
| Fixed assets | 21/28 | €30k | €39k | €18k | €24k | €27k |
| Tangible fixed assets | 22/27 | €30k | €39k | €18k | €24k | €27k |
| Current assets | 29/58 | €12k | €17k | €12k | €7k | €12k |
| Amounts receivable within one year | 40/41 | €3k | €4k | €2k | €559 | €608 |
| Cash & bank | 54/58 | €7k | €12k | €8k | €5k | €10k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €43k | €56k | €30k | €31k | €39k |
| Equity | 10/15 | €3k | €13k | €29k | €29k | €28k |
| Contributions / capital | 10/11 | €3k | €3k | €3k | €3k | - |
| Reserves | 13 | €10k | €10k | €26k | €26k | €25k |
| Accumulated profits (losses) | 14 | €-10k | - | - | - | - |
| Amounts payable | 17/49 | €40k | €44k | €689 | €2k | €10k |
| Amounts payable within one year | 42/48 | €40k | €44k | €689 | €2k | €10k |
| Trade debts payable within one year | 44 | €312 | €2k | €631 | €221 | €5k |
| Income statement | ||||||
| Gross operating margin | 9900 | €30k | €24k | €7k | €7k | €33k |
| Operating result | 9901 | €-9k | €-16k | €877 | €1k | €27k |
| Financial income | 75 | €55 | €8 | €89 | - | €7 |
| Financial charges | 65 | €741 | €637 | €598 | €727 | €404 |
| Result before taxes | 9903 | €-10k | €-16k | €367 | €464 | €26k |
| Income taxes | 67/77 | - | - | €58 | - | €970 |
| Net result for the period | 9904 | €-10k | €-16k | €310 | €464 | €25k |
| Result to be appropriated | 9905 | €-10k | €-16k | €310 | €464 | €25k |
Legal Structure
| NACE primary | Other amusement and recreation activities(93299) |
| Legal form | Private limited company(610) |
| Incorporation | 24-10-2019 |
| Status | Active |
| Postal code | 2460 |
Establishment units
VDB & Vader
since 20192.296.135.302
VDB & Vader
since 20222.340.125.691
Real-estate footprint
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13017G0272/00E000 | Flanders | 1,151 m² | 1 · 123 m² | 8.9 m · 2 fl. |
| 13017G0569/00G000 | Flanders | 469 m² | 1 · 250 m² | 12.2 m · 3 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
2025
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
17-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €-16k ▼5407%
Net result drops to €-16k, the lowest in the series; recovery starts the following year.
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Liquidity times 5current ratio 17.12
Current ratio from 3.77 to 17.12; short-term debt falls from €2k to €689.
21-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Liquidity triplescurrent ratio 3.77
Current ratio from 1.15 to 3.77; short-term debt falls from €10k to €2k.
24-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Full-service restaurants56101Full-service restaurants56111Other amusement and recreation activities93299
Names & trade names
| Legal nameNL | VDB & Vader |
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