Equity
VDC Engineering Services paid out €21,699 in dividends. That is 163% of the 2025 profit.
VDC Engineering Services paid out €21,699 in dividends. That is 163% of the 2025 profit.
The micro format states no turnover.
Short-term debts rose from €8,770 to €23,513.
The last four annual accounts were filed 56 to 147 days before the end of the period.
Less equity than 80% of companies in specialised construction. Sector median €57,715 · 35,131 companies.
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 37% of them on solvency, 42% on liquidity, 92% on profitability and 11% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 39,278 companies had the same profile as VDC Engineering Services has now. Each dot stands for 99 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of VDC Engineering Services itself: 0.9% within 12 months.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 39,278 companies, not a prediction for VDC Engineering Services. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is insufficient, with a current ratio of 0.86 (5.05 in 2024), below 1. Short-term debt is 60.8% and cash 25.2% of total assets. 64.6% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 4 accounts on average 100 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| VDC Engineering Services Ronse | €38,700 | €27,511 | 35.4% | - |
| JT Renovaties & Tuinconcepten Sint-Niklaas | €33,291 | €22,702 | -11.0% | - |
| MAVINKO Ghent | €42,910 | €25,865 | 2.3% | - |
| VIDEBO Lede | €51,366 | €39,836 | 74.6% | - |
| AGY Group Genk | €49,363 | €27,785 | 11.3% | - |
| AT WORKX Zwevegem | €30,960 | €28,264 | 60.3% | - |
| OBEA Berchem-Sainte-Agathe | €44,076 | €20,756 | 28.9% | - |
These companies have the same main activity as VDC Engineering Services: other construction installation (NACE 43240). They are comparable in size and age: total assets between €31,000 and €51,400, founded between 2021 and 2023.
VDC Engineering Services files the micro format. That format states no turnover. The gross margin rose from €13,266 in 2022 to €27,511 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €150,000. Estimated: probably between €96,000 and €200,000.
Higher than 37% of 35,119 companies in 2025.
Higher than 16% of 34,493 companies in 2025.
Higher than 90% of 34,694 companies in 2025.
Net result: middle half · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
38,700 | 102,681 | 94,208 | 91,289 | |
21/28 |
18,490 | 58,424 | 53,087 | 66,623 | |
21 |
974 | 1,265 | - | - | |
22/27 |
17,516 | 57,159 | 53,087 | 66,623 | |
24 |
17,516 | 57,159 | 53,087 | 66,623 | |
29/58 |
20,210 | 44,257 | 41,121 | 24,665 | |
3 |
- | 0 | 100 | - | |
30/36 |
- | 0 | 100 | - | |
40/41 |
9,414 | 7,298 | 7,630 | 23,312 | |
40 |
9,256 | 6,000 | 6,589 | 6,903 | |
41 |
159 | 1,298 | 1,042 | 16,409 | |
54/58 |
9,740 | 34,853 | 30,567 | 1,353 | |
490/1 |
1,056 | 2,106 | 2,824 | - | |
| Balance sheet: equity and liabilities | |||||
10/49 |
38,700 | 102,681 | 94,208 | 91,289 | |
10/15 |
13,713 | 22,121 | 14,080 | 13,713 | |
10/11 |
3,000 | 3,000 | 3,000 | 3,000 | |
13 |
10,713 | 19,121 | 11,080 | 10,713 | |
133 |
10,713 | 19,121 | 11,080 | 10,713 | |
14 |
0 | 0 | 0 | - | |
17/49 |
24,987 | 80,560 | 80,128 | 77,576 | |
17 |
1,474 | 70,770 | 68,000 | 68,000 | |
170/4 |
1,474 | 70,770 | 68,000 | 68,000 | |
42/48 |
23,513 | 8,770 | 11,108 | 9,576 | |
42 |
1,296 | 1,951 | - | - | |
43 |
1,132 | 1,466 | 90 | 795 | |
430/8 |
- | 0 | 90 | 795 | |
439 |
1,132 | 1,466 | - | - | |
44 |
3,368 | 2,761 | 4,436 | 1,734 | |
440/4 |
3,368 | 2,761 | 4,436 | 1,734 | |
45 |
3,637 | 757 | 1,821 | 3,300 | |
450/3 |
3,637 | 757 | 1,821 | 3,300 | |
47/48 |
14,080 | 1,835 | 4,762 | 3,747 | |
492/3 |
0 | 1,020 | 1,020 | - | |
| Income statement | |||||
76A |
6,609 | - | - | - | |
9900 |
27,511 | 30,945 | 16,886 | 13,266 | |
630 |
7,609 | 17,314 | 13,536 | 1,058 | |
640/8 |
1,350 | 1,374 | 1,026 | 348 | |
66A |
895 | - | - | - | |
9901 |
17,657 | 12,257 | 2,324 | 11,861 | |
75/76B |
129 | 53 | - | - | |
75 |
129 | 53 | - | - | |
65/66B |
586 | 1,403 | 1,123 | 77 | |
65 |
586 | 1,403 | 1,123 | 77 | |
9903 |
17,200 | 10,907 | 1,200 | 11,784 | |
67/77 |
3,909 | 2,007 | 0 | 1,071 | |
9904 |
13,291 | 8,900 | 1,200 | 10,713 | |
9905 |
13,291 | 8,900 | 1,200 | 10,713 | |
| Appropriation of the result | |||||
9906 |
13,291 | 8,900 | 1,200 | 10,713 | |
791/2 |
8,408 | 367 | - | - | |
691/2 |
0 | 8,408 | 367 | 10,713 | |
6921 |
0 | 8,408 | 367 | 10,713 | |
694/7 |
21,699 | 859 | 833 | - | |
694 |
21,699 | 859 | 833 | - | |
| Document | |||||
The notes to these accounts have 13 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 27-05-2026.
| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| 25,266 | 29,570 | 15,860 | 12,918 | ||
| 20,900 | 26,214 | 14,736 | 11,770 | ||
| 2,375 | 22,651 | 0 | 67,681 | ||
| -25,113 | 4,286 | 29,214 | - | ||
| -3,303 | 35,487 | 30,013 | 15,089 | ||
| 35.4% | 21.5% | 14.9% | 15.0% | ||
| 0.86 | 5.05 | 3.70 | 2.58 | ||
| 0.86 | 5.05 | 3.69 | 2.58 | ||
| 1.82 | 3.64 | 5.69 | 5.66 | ||
| 96.9% | 40.2% | 8.5% | 78.1% | ||
| 34.3% | 8.7% | 1.3% | 11.7% | ||
| 43.13 | 21.08 | 14.12 | over 100 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | €2,375 | €21,196 | - | €67,681 |
| Intangible fixed assets | - | €1,455 | - | - |
| €7,609 | €17,314 | €13,536 | €1,058 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 44% higher than in 2024 and the highest since 2022. It is the second rise in a row, after the fall in 2023.
Debt's share of the balance-sheet total falls from 78.5% to 64.6%. Equity and debt are lower.
VDC Engineering Services has no parent and no holdings in its annual accounts. VANDERCOILDEN Simon Gert Carine is the only director. VDC Engineering Services shares no director with another company.
| De Bruycker, Andrée (sole trader)
establishment since 28-01-2010 |
founded in 2010 0822.684.021 |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
On 2 May 2022, VDC Engineering Services was incorporated as a private limited company by one natural person, with a starting capital of €3,000.12 VANDERCOILDEN Simon Gert Carine has served as director since 2022.3 Total assets went from €91,289 in 2022 to €38,700 in 2025.4
| Establishment | Since | Unit number |
|---|---|---|
| Leuzesesteenweg 203 registered office 9600 Ronse 4324003 Other construction installation | 02-05-2022 | 2.331.087.172 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 45422D1119/00P000 | 301 m² | 1 · 97 m² | 9.9 m · 2 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0785.621.014
If something looks wrong or is missing, please tell us.