VECON
ActiveSummary
The annual accounts of VECON for fiscal year 2025 show a net loss of 69% of total assets and of 51% of the equity at the start of that year. The 2025 annual accounts show equity of €42k and a net result of €-44k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 70% of 27965 sector peers (fiscal year 2025). The company has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
59
/ 100
Fair
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency90▼-5
Growth52=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 2.31 against 2.86 in 2024; short-term debt: 32.6% of total assets), and 34.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2025Solvency, return and age of the figures
Solvency
65.5%
Return on assets
-69.2%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-44k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-06-2026, 53 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
53 d early
2024
34 d early
2023
53 d early
2022
49 d early
2021
45 d early
2020
61 d late
2019
31 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€42k▼ 51.4%
2024 · €86k
2018: €10klowest in 8 years
2019: €113k▲ +995% vs 2018
2020: €51k▼ -55.0% vs 2019
2021: €155k▲ +206% vs 2020
2022: €186k▲ +20.2% vs 2021highest in 8 years
2023: €153k▼ -18.0% vs 2022
2024: €86k▼ -43.6% vs 2023
2025: €42k▼ -51.4% vs 2024
2018 → 2025
Total assets
€64k▼ 48.4%
2024 · €124k
2018: €61klowest in 8 years
2019: €149k▲ +144% vs 2018
2020: €82k▼ -45.2% vs 2019
2021: €180k▲ +121% vs 2020
2022: €228k▲ +26.7% vs 2021highest in 8 years
2023: €196k▼ -14.2% vs 2022
2024: €124k▼ -36.7% vs 2023
2025: €64k▼ -48.4% vs 2024
2018 → 2025
Net result
€-44k▲ 33.4%
2024 · €-67k
2018: €27k
2019: €102k▲ +274% vs 2018
2020: €-62k▼ -160% vs 2019
2021: €104k▲ +268% vs 2020highest in 8 years
2022: €31k▼ -70.0% vs 2021
2023: €-34k▼ -207% vs 2022
2024: €-67k▼ -98.2% vs 2023lowest in 8 years
2025: €-44k▲ +33.4% vs 2024
2018 → 2025
Working capital
€27k▼ 59.7%
2024 · €68k
2018: €559lowest in 8 years
2019: €108k▲ +19172% vs 2018
2020: €49k▼ -54.4% vs 2019
2021: €154k▲ +214% vs 2020
2022: €158k▲ +2.6% vs 2021highest in 8 years
2023: €131k▼ -17.0% vs 2022
2024: €68k▼ -48.3% vs 2023
2025: €27k▼ -59.7% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€155k-€186k▲ 20.2%€153k▼ 18.0%€86k▼ 43.6%€42k▼ 51.4%
2021: €155k
2022: €186k▲ +20.2% vs 2021highest in 5 years
2023: €153k▼ -18.0% vs 2022
2024: €86k▼ -43.6% vs 2023
2025: €42k▼ -51.4% vs 2024lowest in 5 years
Operating result€130k-€49k▼ 62.3%€-33k€-65k▼ 101%€-44k▲ 33.1%
2021: €130khighest in 5 years
2022: €49k▼ -62.3% vs 2021
2023: €-33k▼ -166% vs 2022
2024: €-65k▼ -101% vs 2023lowest in 5 years
2025: €-44k▲ +33.1% vs 2024
Net result€104k-€31k▼ 70.0%€-34k€-67k▼ 98.2%€-44k▲ 33.4%
2021: €104khighest in 5 years
2022: €31k▼ -70.0% vs 2021
2023: €-34k▼ -207% vs 2022
2024: €-67k▼ -98.2% vs 2023lowest in 5 years
2025: €-44k▲ +33.4% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €44k in 2025 against €65k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €64k
Fixed assets
€16k ▼ 19.4%
Current assets
€48k ▼ 53.8%
Equity and liabilities €64k
Equity
€42k ▼ 51.4%
Debt
€22k ▼ 41.5%
Debt's share of the balance-sheet total rises from 30.5% to 34.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-36k▲
2024 · €-58k
Cash flow
€-37k▲
2024 · €-59k
Current ratio
2.31▼
2024 · 2.86
Quick ratio
1.34▼
2024 · 2.11
Debt to equity
0.53▲
2024 · 0.44
ROE
-105.8%▼
2024 · -77.2%
ROA
-69.2%▼
2024 · -53.7%
Interest coverage
-36.87▲
2024 · -54.66
Debt ≤ 1 year
€21k▼
2024 · €37k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 45 lines
Balance sheet
Code20242025
Assets
Total assets20/58€124k€64k▼
Fixed assets21/28€20k€16k▼
Tangible fixed assets22/27€17k€10k▼
Plant, machinery and equipment23€3k€3k▼
Furniture and vehicles24€14k€7k▼
Financial fixed assets28€2k€6k▲
Current assets29/58€104k€48k▼
Stocks and contracts in progress3€27k€20k▼
Stocks30/36€27k€20k▼
Amounts receivable within one year40/41€8k€10k▲
Trade receivables40€6k€7k▲
Other amounts receivable41€2k€3k▲
Current investments50/53€69k€18k▼
Deferred charges and accrued income490/1€177€187▲
Equity and liabilities
Total equity and liabilities10/49€124k€64k▼
Equity10/15€86k€42k▼
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€124k€124k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Distributable reserves133€118k€118k=
Profit (loss) carried forward14€-100k€-144k▼
Amounts payable17/49€38k€22k▼
Amounts payable within one year42/48€37k€21k▼
Trade debts44€10k€3k▼
Suppliers440/4€10k€3k▼
Taxes, remuneration and social security45€4k-
Taxes450/3€4k-
Other amounts payable47/48€23k€18k▼
Accrued charges and deferred income492/3€1k€1k=
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€8k▲
Other operating charges640/8€473€185▼
Gross operating margin9900€-58k€-36k▲
Operating profit (loss)9901€-65k€-44k▲
Financial income75/76B-€501
Recurring financial income75-€501
Financial charges65/66B€1k€984▼
Recurring financial charges65€1k€984▼
Profit (loss) for the period before taxes9903€-67k€-44k▲
Profit (loss) for the period9904€-67k€-44k▲
Profit (loss) for the period to be appropriated9905€-67k€-44k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-100k€-144k▼
Profit (loss) brought forward from the previous period14P€-34k€-100k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €7k | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3k | €6k | €7k | €7k | €8k | ▲ 1.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €-4k | - | - | - | - |
| Other operating charges640/8 | €3k | €581 | €424 | €473 | €185 | ▼ 60.8% |
| Gross operating margin9900 | €136k | €52k | €-25k | €-58k | €-36k | ▲ 37.3% |
| Operating profit (loss)9901 | €130k | €49k | €-33k | €-65k | €-44k | ▲ 33.1% |
| Financial income75/76B | €1 | €1 | - | - | €501 | - |
| Recurring financial income75 | €1 | €1 | - | - | €501 | - |
| Financial charges65/66B | €3k | €2k | €1k | €1k | €984 | ▼ 7.3% |
| Recurring financial charges65 | €3k | €2k | €1k | €1k | €984 | ▼ 7.3% |
| Profit (loss) for the period before taxes9903 | €127k | €47k | €-34k | €-67k | €-44k | ▲ 33.4% |
| Income taxes67/77 | €22k | €16k | - | - | - | - |
| Profit (loss) for the period9904 | €104k | €31k | €-34k | €-67k | €-44k | ▲ 33.4% |
| Profit (loss) for the period to be appropriated9905 | €104k | €31k | €-34k | €-67k | €-44k | ▲ 33.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €180k | €228k | €196k | €124k | €64k | ▼ 48.4% |
| Fixed assets21/28 | €2k | €30k | €23k | €20k | €16k | ▼ 19.4% |
| Tangible fixed assets22/27 | - | €27k | €21k | €17k | €10k | ▼ 43.5% |
| Plant, machinery and equipment23 | - | - | - | €3k | €3k | ▼ 24.4% |
| Furniture and vehicles24 | - | €27k | €21k | €14k | €7k | ▼ 48.3% |
| Financial fixed assets28 | €2k | €2k | €2k | €2k | €6k | ▲ 167% |
| Current assets29/58 | €178k | €199k | €173k | €104k | €48k | ▼ 53.8% |
| Stocks and contracts in progress3 | €35k | €28k | €27k | €27k | €20k | ▼ 26.2% |
| Stocks30/36 | €35k | €28k | €27k | €27k | €20k | ▼ 26.2% |
| Amounts receivable within one year40/41 | €9k | €57k | €19k | €8k | €10k | ▲ 27.3% |
| Trade receivables40 | €7k | €56k | €16k | €6k | €7k | ▲ 19.9% |
| Other amounts receivable41 | €3k | €2k | €3k | €2k | €3k | ▲ 50.7% |
| Current investments50/53 | - | €112k | €126k | €69k | €18k | ▼ 73.8% |
| Cash at bank and in hand54/58 | €131k | - | - | - | - | - |
| Deferred charges and accrued income490/1 | €3k | €790 | €812 | €177 | €187 | ▲ 5.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €180k | €228k | €196k | €124k | €64k | ▼ 48.4% |
| Equity10/15 | €155k | €186k | €153k | €86k | €42k | ▼ 51.4% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | €62k | €62k | €62k | €62k | €62k | = |
| Issued capital100 | €62k | €62k | €62k | €62k | €62k | = |
| Reserves13 | €68k | €124k | €124k | €124k | €124k | = |
| Non-distributable reserves130/1 | €6k | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | €6k | €6k | €6k | €6k | €6k | = |
| Distributable reserves133 | €62k | €118k | €118k | €118k | €118k | = |
| Profit (loss) carried forward14 | €25k | - | €-34k | €-100k | €-144k | ▼ 44.2% |
| Amounts payable17/49 | €25k | €42k | €43k | €38k | €22k | ▼ 41.5% |
| Amounts payable within one year42/48 | €24k | €41k | €42k | €37k | €21k | ▼ 42.9% |
| Trade debts44 | €4k | - | €306 | €10k | €3k | ▼ 74.8% |
| Suppliers440/4 | €4k | - | €306 | €10k | €3k | ▼ 74.8% |
| Taxes, remuneration and social security45 | €5k | €20k | €19k | €4k | - | - |
| Taxes450/3 | €2k | €20k | €16k | €4k | - | - |
| Remuneration and social security454/9 | €3k | - | €4k | - | - | - |
| Other amounts payable47/48 | €15k | €21k | €22k | €23k | €18k | ▼ 19.7% |
| Accrued charges and deferred income492/3 | €1k | €1k | €1k | €1k | €1k | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €104k | €31k | €-34k | €-67k | €-44k | ▲ 33.4% |
| + Depreciation and write-downs630 | €3k | €6k | €7k | €7k | €8k | ▲ 1.2% |
| Operating cash flow (approximation) | €107k | €38k | €-27k | €-59k | €-37k | ▲ 37.8% |
| Investment in fixed assets (approximation) | - | €-34k | €0 | €-4k | €-4k | ▲ 11.9% |
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
Next filing, fiscal year 2026, expected by
2026
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-67k
Net result drops to €-67k, the lowest in the series; recovery starts the following year.
08-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
12-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
16-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €104k
Net result €104k after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 7.46
Current ratio from 2.67 to 7.46; short-term debt falls from €29k to €24k.
31-12
Financial
Equity above €150kEq €155k ▲206%
Equity rises from €51k to €155k.
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 61 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
31-12
Financial
Liquidity quadruplescurrent ratio 4.16
Current ratio from 1.01 to 4.16; short-term debt falls from €49k to €34k.
Show earlier events
31-12
Financial
Equity above €100kEq €113k ▲995%
2 profitable years in a row build equity to €113k.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
28-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 59 days late
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, Hamont-Achel · 1 establishment unit since 1999
Ground area
8,150 m²
Building footprint
2,306 m²
Volume, LiDAR
14,788 m³
Parcel 72012C0693/02C000, Flanders · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
VECON
since 19992.091.143.717
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72012C0693/02C000 | Flanders | 8,150 m² | 1 · 2,306 m² | 8.5 m · 2 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.
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Of 15,521 companies in sector 43990 we hold annual accounts for 7,414. 5,957 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded18-12-1998
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
68110Buying and selling of own real estate
Scores and ratios are computed by Checked and are not a credit decision.