VDD General Technic
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 19-06-2026 at the NBB all 10 filings
Turnover
≈ €240,000
Estimated: probably between €160,000 and €380,000
EBIT margin
Not included in this filing
Net result
€49,408▲ 18×
2024 · €2,737
Working capital
€62,423▲ 30.4%
2024 · €47,878
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€75,277
▲ 743%
2025
20182025
Net result
€49,408
▲ 18×
2025
middle half of the sector
20182025
Equity
€88,733
▲ 30.8%
2025
middle half of the sector
20182025
Total assets
€163,670
▲ 55.9%
2025
lowest quarter of the sector
20182025
Debt
€74,937
▲ 102%
2025
20182025
Working capital
€62,423
▲ 30.4%
2025
middle half of the sector
20182025
Solvency
54.2%
▼ 10.4pp
2025
middle half of the sector
20182025
Current ratio
2.09
▼ 0.53
2025
middle half of the sector
20182025
Return on assets (ROA)
30.2%
▲ 27.6pp
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€22,496-€61,174▲ 172%€88,177▲ 44.1%€8,200▼ 90.7%€12,844▲ 56.6%€19,757▲ 53.8%€8,928▼ 54.8%€75,277▲ 743%
Net result€17,519-€52,414▲ 199%€70,763above the sector's middle half▲ 35.0%-€14,828below the sector's middle half-€4,446below the sector's middle half▲ 70.0%€8,460within the sector's middle half€2,737within the sector's middle half▼ 67.6%€49,408within the sector's middle half▲ 18×
Equity€20,846-€71,560▲ 243%€145,723above the sector's middle half▲ 104%€130,895above the sector's middle half▼ 10.2%€126,448within the sector's middle half▼ 3.4%€87,109within the sector's middle half▼ 31.1%€67,846within the sector's middle half▼ 22.1%€88,733within the sector's middle half▲ 30.8%
Total assets€55,564-€95,078▲ 71.1%€224,118within the sector's middle half▲ 136%€215,605within the sector's middle half▼ 3.8%€135,539within the sector's middle half▼ 37.1%€187,133within the sector's middle half▲ 38.1%€104,994within the sector's middle half▼ 43.9%€163,670below the sector's middle half▲ 55.9%
Debt€34,718-€23,518▼ 32.3%€78,396▲ 233%€84,710▲ 8.1%€9,090▼ 89.3%€100,024▲ 11×€37,148▼ 62.9%€74,937▲ 102%
Working capital€19,257-€43,379▲ 125%€111,656above the sector's middle half▲ 157%€110,487above the sector's middle half▼ 1.0%€118,938above the sector's middle half▲ 7.6%€98,443above the sector's middle half▼ 17.2%€47,878within the sector's middle half▼ 51.4%€62,423within the sector's middle half▲ 30.4%
Solvency37.5%-75.3%▲ 37.7pp65.0%above the sector's middle half▼ 10.2pp60.7%within the sector's middle half▼ 4.3pp93.3%above the sector's middle half▲ 32.6pp46.5%within the sector's middle half▼ 46.7pp64.6%above the sector's middle half▲ 18.1pp54.2%within the sector's middle half▼ 10.4pp
Current ratio1.55-2.84▲ 1.292.42within the sector's middle half▼ 0.422.30within the sector's middle half▼ 0.1214.08above the sector's middle half▲ 11.782.37within the sector's middle half▼ 11.712.62within the sector's middle half▲ 0.242.09within the sector's middle half▼ 0.53
Return on assets (ROA)31.5%-55.1%▲ 23.6pp31.6%above the sector's middle half▼ 23.6pp-6.9%below the sector's middle half▼ 38.5pp-3.3%below the sector's middle half▲ 3.6pp4.5%within the sector's middle half▲ 7.8pp2.6%within the sector's middle half▼ 1.9pp30.2%above the sector's middle half▲ 27.6pp
above
within
below
The sector band is the middle half of the companies in Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles (NACE 95). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 8.4 times that of 2024 and the highest since 2021. It is a recovery after the fall in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €163,670
Fixed assets
€43,730 ▲ 59.1%
Current assets
€119,941 ▲ 54.7%
Equity and liabilities €163,670
Equity
€88,733 ▲ 30.8%
Debt
€74,937 ▲ 102%
Debt's share of the balance-sheet total rises from 35.4% to 45.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€85,923▲
2024 · €17,072
Cash flow
€60,054▲
2024 · €10,882
Debt to equity
0.84▲
2024 · 0.55
ROE
55.7%▲
2024 · 4.0%
Interest coverage
11.52▲
2024 · 3.24
Debt ≤ 1 year
€57,518▲
2024 · €29,629
Debt > 1 year
€17,419▲
2024 · €7,519
Income taxes
€18,482▲
2024 · €958
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €816 | €17,339 | €18,661 | €26,888 |
| Depreciation and write-downs of the year | €13,659 | €13,712 | €7,879 | €8,144 | €10,645 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €2,400 | €300 | ▼ 87.5% |
| Remuneration, social security and pensions62 | - | - | - | €732 | €244 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,264 | €10,010 | €13,984 | €13,659 | €13,712 | €7,879 | €8,144 | €10,645 | ▲ 30.7% |
| Other operating charges640/8 | - | - | - | €605 | €868 | €1,729 | €796 | €989 | ▲ 24.2% |
| Non-recurring operating charges66A | - | - | - | - | - | €188 | - | - | - |
| Gross operating margin9900 | €24,105 | €74,011 | €103,286 | €23,196 | €27,668 | €29,552 | €17,868 | €86,911 | ▲ 386% |
| Operating profit (loss)9901 | €22,496 | €61,174 | €88,177 | €8,200 | €12,844 | €19,757 | €8,928 | €75,277 | ▲ 743% |
| Financial income75/76B | - | - | - | €2,229 | €2,050 | €1,912 | €36 | €70 | ▲ 91.3% |
| Recurring financial income75 | - | €85 | €75 | €2,229 | €2,050 | €1,912 | €36 | €70 | ▲ 91.3% |
| Financial charges65/66B | - | - | - | €4,700 | €6,319 | €9,718 | €5,268 | €7,457 | ▲ 41.5% |
| Recurring financial charges65 | €4,978 | €8,791 | €9,445 | €4,700 | €6,319 | €9,718 | €5,268 | €7,457 | ▲ 41.5% |
| Profit (loss) for the period before taxes9903 | €17,519 | €52,468 | €78,808 | €5,729 | €8,575 | €11,951 | €3,696 | €67,890 | ▲ 18× |
| Income taxes67/77 | - | €54 | €8,045 | €20,557 | €13,021 | €3,490 | €958 | €18,482 | ▲ 19× |
| Profit (loss) for the period9904 | €17,519 | €52,414 | €70,763 | -€14,828 | -€4,446 | €8,460 | €2,737 | €49,408 | ▲ 18× |
| Profit (loss) for the period to be appropriated9905 | €17,519 | €52,414 | €70,763 | -€14,828 | -€4,446 | €8,460 | €2,737 | €49,408 | ▲ 18× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €55,564 | €95,078 | €224,118 | €215,605 | €135,539 | €187,133 | €104,994 | €163,670 | ▲ 55.9% |
| Fixed assets21/28 | €1,589 | €28,182 | €34,066 | €20,407 | €7,511 | €16,971 | €27,487 | €43,730 | ▲ 59.1% |
| Tangible fixed assets22/27 | €1,589 | €26,562 | €32,232 | €18,572 | €5,676 | €15,136 | €25,652 | €41,895 | ▲ 63.3% |
| Plant, machinery and equipment23 | - | - | - | €1,892 | €1,143 | €1,073 | €1,406 | €1,477 | ▲ 5.0% |
| Furniture and vehicles24 | - | - | - | €16,680 | €4,533 | €14,063 | €24,246 | €40,418 | ▲ 66.7% |
| Financial fixed assets28 | - | €1,620 | €1,835 | €1,835 | €1,835 | €1,835 | €1,835 | €1,835 | = |
| Current assets29/58 | €53,975 | €66,896 | €190,052 | €195,198 | €128,028 | €170,162 | €77,507 | €119,941 | ▲ 54.7% |
| Amounts receivable after more than one year29 | - | - | - | €14,907 | - | - | - | - | - |
| Trade receivables290 | - | - | - | €14,907 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €19,615 | €5,184 | €86,081 | €97,706 | €35,249 | €59,346 | €5,641 | €14,664 | ▲ 160% |
| Trade receivables40 | - | - | - | €81,760 | - | €10,774 | €2,800 | €10,229 | ▲ 265% |
| Other amounts receivable41 | - | - | - | €15,946 | €35,249 | €48,573 | €2,841 | €4,435 | ▲ 56.1% |
| Cash at bank and in hand54/58 | €19,227 | €45,884 | €89,971 | €81,330 | €91,741 | €109,093 | €70,619 | €103,906 | ▲ 47.1% |
| Deferred charges and accrued income490/1 | - | - | - | €1,255 | €1,037 | €1,723 | €1,247 | €1,371 | ▲ 9.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €55,564 | €95,078 | €224,118 | €215,605 | €135,539 | €187,133 | €104,994 | €163,670 | ▲ 55.9% |
| Equity10/15 | €20,846 | €71,560 | €145,723 | €130,895 | €126,448 | €87,109 | €67,846 | €88,733 | ▲ 30.8% |
| Contributions10/11 | €10,700 | €9,000 | - | €12,400 | €12,400 | €18,600 | €18,600 | €18,600 | = |
| Contributions outside capital11 | - | - | - | €12,400 | €12,400 | €18,600 | €18,600 | €18,600 | = |
| Share premium1100/10 | - | - | - | - | - | €18,600 | €18,600 | €18,600 | = |
| Other1109/19 | - | - | - | €12,400 | €12,400 | - | - | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €8,286 | €60,700 | €131,463 | €116,635 | €112,188 | €66,649 | €47,386 | €68,273 | ▲ 44.1% |
| Amounts payable17/49 | €34,718 | €23,518 | €78,396 | €84,710 | €9,090 | €100,024 | €37,148 | €74,937 | ▲ 102% |
| Amounts payable after more than one year17 | - | - | - | - | - | - | €7,519 | €17,419 | ▲ 132% |
| Financial debts170/4 | - | - | - | - | - | - | €7,519 | €17,419 | ▲ 132% |
| Amounts payable within one year42/48 | €34,718 | €23,518 | €78,396 | €84,710 | €9,090 | €71,719 | €29,629 | €57,518 | ▲ 94.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €1,645 | €492 | €473 | €6,326 | €12,035 | ▲ 90.2% |
| Trade debts44 | €31,818 | €21,771 | €77,826 | €83,066 | €3,512 | €14,197 | €15,548 | €15,338 | ▼ 1.3% |
| Suppliers440/4 | - | - | - | €17,614 | €3,512 | €14,197 | €15,548 | €15,338 | ▼ 1.3% |
| Bills of exchange payable441 | - | - | - | €65,452 | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | - | €5,086 | €3,049 | €7,182 | €29,966 | ▲ 317% |
| Taxes450/3 | - | - | - | - | €2,086 | €1,990 | €4,790 | €20,260 | ▲ 323% |
| Remuneration and social security454/9 | - | - | - | - | €3,000 | €1,059 | €2,392 | €9,706 | ▲ 306% |
| Other amounts payable47/48 | - | - | - | - | - | €54,000 | €573 | €179 | ▼ 68.8% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €28,305 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,519 | €52,414 | €70,763 | -€14,828 | -€4,446 | €8,460 | €2,737 | €49,408 | ▲ 18× |
| + Depreciation and write-downs630 | €1,264 | €10,010 | €13,984 | €13,659 | €13,712 | €7,879 | €8,144 | €10,645 | ▲ 30.7% |
| Operating cash flow (approximation) | €18,783 | €62,424 | €84,747 | -€1,169 | €9,266 | €16,340 | €10,882 | €60,054 | ▲ 452% |
| Investment in fixed assets (approximation) | - | -€36,602 | -€19,869 | €0 | -€816 | -€17,339 | -€18,661 | -€26,888 | ▼ 44.1% |
| Change in cash | - | €26,657 | €44,087 | -€8,641 | €10,411 | €17,352 | -€38,474 | €33,288 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 34,693 companies had the same profile as VDD General Technic has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of VDD General Technic itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 34,693 companies, not a prediction for VDD General Technic. 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.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 19-06-2026 | 2026-00176328 | |
| 31-12-2024 | micro format | 24-06-2025 | 2025-00169923 | |
| 31-12-2023 | micro format | 28-06-2024 | 2024-00177082 | |
| 31-12-2022 | micro format | 15-06-2023 | 2023-00127561 | |
| 31-12-2021 | micro format | 15-07-2022 | 2022-20189309 | |
| 31-12-2020 | micro format | 27-08-2021 | 2021-59300312 | |
| 31-12-2019 | full format | 25-06-2020 | 2020-21000520 | |
| 31-12-2018 | full format | 17-06-2019 | 2019-19300020 | |
| 31-12-2017 | full format | 15-06-2018 | 2018-19200599 | |
| 31-12-2016 | full format | 26-09-2017 | 2017-62800577 |