VDE SECURITY
InactiveFinancials · financial year 2024, abbreviated format
Annual accounts 2024 filed on 01-04-2025 PDF all 23 filings
Turnover
≈ €1.6m
Estimated: probably between €940,000 and €2.7m
Total assets
€659,527▼ 8.6%
2023 · €721,221
Net result
€131,864▼ 25.2%
2023 · €176,218
Working capital
€425,706▲ 58.4%
2023 · €268,733
Trend over the years
2020 to 2024, 5 financial years 2018 to 2024, 7 financial years
The operating result for 2024 is 16% lower than in 2023. It is the second fall in a row.
Operating result€190,355
2024
Net result€131,864
2024
Total assets€659,527
2024
Equity€493,454
2024
Debt€166,073
2024
Working capital€425,706
2024
Staff (FTE)8.9
2024
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Operating result€87,611-€65,129▼ 25.7%€43,221▼ 33.6%€167,717▲ 288%€421,307▲ 151%€227,055▼ 46.1%€190,355▼ 16.2%
Net result€48,026-€25,895▼ 46.1%€10,935▼ 57.8%€106,013▲ 870%€407,692▲ 285%€176,218▼ 56.8%€131,864▼ 25.2%
Equity€313,937-€281,232▼ 10.4%€217,167▼ 22.8%€266,680▲ 22.8%€268,372▲ 0.6%€361,590▲ 34.7%€493,454▲ 36.5%
Total assets€757,816-€569,611▼ 24.8%€600,518▲ 5.4%€624,525▲ 4.0%€965,278▲ 54.6%€721,221▼ 25.3%€659,527▼ 8.6%
Debt€443,878-€288,378▼ 35.0%€383,351▲ 32.9%€357,845▼ 6.7%€696,905▲ 94.8%€359,631▼ 48.4%€166,073▼ 53.8%
Working capital€84,469-€116,134▲ 37.5%€97,784▼ 15.8%€148,109▲ 51.5%€141,462▼ 4.5%€268,733▲ 90.0%€425,706▲ 58.4%
Staff (FTE)9.7-9.8▲ 1.0%9.8=9.3▼ 5.1%8.8▼ 5.4%8.8=8.9▲ 1.1%
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €659,527
Fixed assets
€67,748 ▼ 27.2%
Current assets
€591,779 ▼ 5.8%
Equity and liabilities €659,527
Equity
€493,454 ▲ 36.5%
Debt
€166,073 ▼ 53.8%
Debt's share of the balance-sheet total falls from 49.9% to 25.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€203,642▼
2023 · €314,883
Cash flow
€145,151▼
2023 · €264,046
Current ratio
3.56▲
2023 · 1.75
Quick ratio
2.98▲
2023 · 1.25
Debt to equity
0.34▼
2023 · 0.99
ROE
26.7%▼
2023 · 48.7%
ROA
20.0%▼
2023 · 24.4%
Interest coverage
41.63▲
2023 · 30.44
Debt ≤ 1 year
€166,073▼
2023 · €359,481
Income taxes
€54,154▼
2023 · €68,784
Staff costs
€451,632▼
2023 · €581,498
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 30-09-2024 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 9 | 9 | 9 | 9 |
| full-time | 8 | 8 | 7 | 8 |
| part-time | 1 | 1 | 2 | 1 |
| in full-time equivalents | 8.8 | 8.8 | 8.6 | 8.8 |
| Average over the year, in full-time equivalents | 9.3 | 8.8 | 8.8 | 8.9 |
| On a permanent contract | 9 | 9 | 9 | 9 |
| Joined | 0 | - | - | 2 |
| Left | 1 | - | - | 2 |
| Training hours | - | - | - | 70 |
Source: social balance sheet in the 2021 to 2024 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 30-09-2024 |
|---|---|---|---|---|
| Debts secured on the company's own assets | - | - | - | €11,254 |
| Mortgages, amount registered | €27,500 | €27,500 | €27,500 | - |
| Mortgage mandates | €799,400 | €799,400 | €799,400 | - |
| Carrying value of the mortgaged assets | €184,241 | €127,555 | €52,405 | - |
| Pledge on the business | €110,000 | €110,000 | €110,000 | - |
Source: notes to the 2021 to 2024 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 30-09-2024 |
|---|---|---|---|---|
| Tangible fixed assets | €17,607 | €32,343 | €7,374 | - |
| Depreciation and write-downs of the year | €75,958 | €70,428 | €87,828 | €13,287 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2023 · 2 entries · €979 awarded · €979 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 1 | €87 | €87 |
| 2022 | 1 | €892 | €892 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €491,476 | €498,902 | €581,498 | €451,632 | ▼ 22.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €118,820 | €112,742 | €122,262 | €75,958 | €70,428 | €87,828 | €13,287 | ▼ 84.9% |
| Other operating charges640/8 | - | - | - | €16,463 | €8,786 | €11,094 | €2,781 | ▼ 74.9% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €3,600 | - |
| Gross operating margin9900 | €716,201 | €700,792 | €625,609 | €751,614 | €999,422 | €907,476 | €661,655 | ▼ 27.1% |
| Operating profit (loss)9901 | €87,611 | €65,129 | €43,221 | €167,717 | €421,307 | €227,055 | €190,355 | ▼ 16.2% |
| Financial income75/76B | - | - | - | €3,035 | €25,690 | €28,292 | €555 | ▼ 98.0% |
| Recurring financial income75 | €7,487 | €15 | €107 | €2,606 | €433 | €1,845 | €555 | ▼ 69.9% |
| Non-recurring financial income76B | - | - | - | €428 | €25,257 | €26,446 | - | - |
| Financial charges65/66B | - | - | - | €11,723 | €11,287 | €10,345 | €4,892 | ▼ 52.7% |
| Recurring financial charges65 | €17,481 | €13,338 | €12,283 | €11,368 | €11,039 | €10,345 | €4,892 | ▼ 52.7% |
| Non-recurring financial charges66B | - | - | - | €355 | €248 | - | - | - |
| Profit (loss) for the period before taxes9903 | €77,617 | €51,806 | €31,046 | €159,029 | €435,710 | €245,001 | €186,018 | ▼ 24.1% |
| Income taxes67/77 | €29,590 | €25,911 | €20,111 | €53,016 | €28,017 | €68,784 | €54,154 | ▼ 21.3% |
| Profit (loss) for the period9904 | €48,026 | €25,895 | €10,935 | €106,013 | €407,692 | €176,218 | €131,864 | ▼ 25.2% |
| Profit (loss) for the period to be appropriated9905 | €48,026 | €25,895 | €10,935 | €106,013 | €407,692 | €176,218 | €131,864 | ▼ 25.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €757,816 | €569,611 | €600,518 | €624,525 | €965,278 | €721,221 | €659,527 | ▼ 8.6% |
| Fixed assets21/28 | €423,736 | €310,993 | €283,763 | €225,411 | €180,713 | €93,007 | €67,748 | ▼ 27.2% |
| Intangible fixed assets21 | €143,000 | €89,000 | €35,000 | €30,000 | €25,000 | €20,000 | €16,250 | ▼ 18.8% |
| Tangible fixed assets22/27 | €280,377 | €221,635 | €248,404 | €195,052 | €155,354 | €72,648 | €51,139 | ▼ 29.6% |
| Land and buildings22 | - | - | - | €137,053 | €103,961 | €52,405 | - | - |
| Plant, machinery and equipment23 | - | - | - | €1,776 | €6,726 | €287 | €72 | ▼ 75.0% |
| Furniture and vehicles24 | - | - | - | €9,036 | €21,072 | €19,957 | €5,213 | ▼ 73.9% |
| Other tangible fixed assets26 | - | - | - | €47,187 | €23,594 | - | €45,854 | - |
| Financial fixed assets28 | €359 | €359 | €359 | €359 | €359 | €359 | €359 | = |
| Current assets29/58 | €334,080 | €258,617 | €316,755 | €399,114 | €784,565 | €628,215 | €591,779 | ▼ 5.8% |
| Stocks and contracts in progress3 | €89,809 | €83,114 | €81,831 | €121,429 | €178,909 | €178,554 | €96,897 | ▼ 45.7% |
| Stocks30/36 | - | - | - | €121,429 | €178,909 | €178,554 | €96,897 | ▼ 45.7% |
| Amounts receivable within one year40/41 | €218,934 | €91,745 | €141,509 | €96,759 | €283,577 | €219,564 | €248,423 | ▲ 13.1% |
| Trade receivables40 | - | - | - | €73,950 | €214,610 | €195,419 | €177,255 | ▼ 9.3% |
| Other amounts receivable41 | - | - | - | €22,809 | €68,967 | €24,145 | €71,168 | ▲ 195% |
| Cash at bank and in hand54/58 | €21,561 | €67,998 | €76,306 | €176,869 | €307,358 | €174,762 | €242,603 | ▲ 38.8% |
| Deferred charges and accrued income490/1 | - | - | - | €4,057 | €14,721 | €55,335 | €3,857 | ▼ 93.0% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €757,816 | €569,611 | €600,518 | €624,525 | €965,278 | €721,221 | €659,527 | ▼ 8.6% |
| Equity10/15 | €313,937 | €281,232 | €217,167 | €266,680 | €268,372 | €361,590 | €493,454 | ▲ 36.5% |
| Contributions10/11 | €164,000 | €164,000 | - | €164,000 | €164,000 | €164,000 | €164,000 | = |
| Reserves13 | €149,937 | €117,232 | €42,295 | €91,295 | €91,295 | €91,295 | €91,295 | = |
| Non-distributable reserves130/1 | - | - | - | €16,400 | €16,400 | €16,400 | - | - |
| Reserves not available under the articles1311 | - | - | - | €16,400 | €16,400 | €16,400 | - | - |
| Distributable reserves133 | - | - | - | €74,895 | €74,895 | €74,895 | €91,295 | ▲ 21.9% |
| Profit (loss) carried forward14 | - | - | €10,872 | €11,385 | €13,077 | €106,295 | €238,159 | ▲ 124% |
| Amounts payable17/49 | €443,878 | €288,378 | €383,351 | €357,845 | €696,905 | €359,631 | €166,073 | ▼ 53.8% |
| Amounts payable after more than one year17 | €192,099 | €145,895 | €164,380 | €106,840 | €53,652 | - | - | - |
| Financial debts170/4 | - | - | - | €106,840 | €53,652 | - | - | - |
| Amounts payable within one year42/48 | €249,610 | €142,483 | €218,971 | €251,005 | €643,103 | €359,481 | €166,073 | ▼ 53.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €109,562 | €116,127 | €98,945 | €11,254 | ▼ 88.6% |
| Financial debts43 | - | - | - | - | - | - | €37,953 | - |
| Credit institutions430/8 | - | - | - | - | - | - | €37,953 | - |
| Trade debts44 | €128,017 | €45,311 | €12,297 | €30,806 | €61,601 | €173,712 | €48,045 | ▼ 72.3% |
| Suppliers440/4 | - | - | - | €30,806 | €61,601 | €173,712 | €48,045 | ▼ 72.3% |
| Taxes, remuneration and social security45 | - | - | - | €41,297 | €57,738 | €47,331 | €49,921 | ▲ 5.5% |
| Taxes450/3 | - | - | - | €1,558 | €14,095 | - | €2,783 | - |
| Remuneration and social security454/9 | - | - | - | €39,739 | €43,643 | €47,331 | €47,138 | ▼ 0.4% |
| Other amounts payable47/48 | - | - | - | €69,339 | €407,637 | €39,494 | €18,900 | ▼ 52.1% |
| Accrued charges and deferred income492/3 | - | - | - | - | €150 | €150 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €48,026 | €25,895 | €10,935 | €106,013 | €407,692 | €176,218 | €131,864 | ▼ 25.2% |
| + Depreciation and write-downs630 | €118,820 | €112,742 | €122,262 | €75,958 | €70,428 | €87,828 | €13,287 | ▼ 84.9% |
| Operating cash flow (approximation) | €166,846 | €138,637 | €133,197 | €181,971 | €478,120 | €264,046 | €145,151 | ▼ 45.0% |
| Investment in fixed assets (approximation) | - | €0 | -€95,032 | -€17,607 | -€25,729 | -€123 | €11,972 | - |
| Change in cash | - | €46,437 | €8,308 | €100,563 | €130,489 | -€132,596 | €67,841 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 23 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2024 | abbreviated format | 01-04-2025 | 2025-00059541 | |
| 31-12-2023 | abbreviated format | 30-09-2024 | 2024-00479964 | |
| 31-12-2022 | abbreviated format | 26-07-2023 | 2023-00271996 | |
| 31-12-2021 | abbreviated format | 29-08-2022 | 2022-20332684 | |
| 31-12-2020 | abbreviated format | 17-08-2021 | 2021-49400245 | |
| 31-12-2019 | abbreviated format | 17-11-2020 | 2020-71600533 | |
| 31-12-2018 | abbreviated format | 28-06-2019 | 2019-24800343 | |
| 31-12-2017 | abbreviated format | 30-07-2018 | 2018-41400255 | |
| 31-12-2016 | abbreviated format | 15-06-2017 | 2017-18100471 | |
| 31-12-2015 | abbreviated format | 27-07-2016 | 2016-35400169 |