VEDEFAR
ActiveSummary
VEDEFAR has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €934,320 and a net result of €239,964. Equity is shrinking by ~4% per year across the filed fiscal years. Its solvency ranks better than 81% of 5046 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability93▲+16
Solvency100▲+21
Growth32=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €85,000 at 30 days acceptable
Liquidity ample (current ratio 3.73 against 1.91 in 2024; short-term debt: 24.2% and cash: 35.2% of total assets), and 24.2% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
75.8%
Return on assets
19.5%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €934,320
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 06-07-2026, 25 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
25 d early
2024
106 d early
2023
37 d early
2022
24 d early
2021
1 d early
2020
on the day
2019
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 28 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
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. Usually files around 6 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€239,964▲ 169%
2024 · €89,150
Working capital
€814,091▲ 53.2%
2024 · €531,535
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€156,438▼ 11.8%€198,165▲ 26.7%€299,168▲ 51.0%€128,905▼ 56.9%€325,167▲ 152%
Net result€98,608within the sector's middle half▼ 14.7%€129,349within the sector's middle half▲ 31.2%€212,303above the sector's middle half▲ 64.1%€89,150within the sector's middle half▼ 58.0%€239,964within the sector's middle half▲ 169%
Equity€1.1mabove the sector's middle half▲ 4.5%€612,903within the sector's middle half▼ 45.9%€775,206within the sector's middle half▲ 26.5%€694,356within the sector's middle half▼ 10.4%€934,320within the sector's middle half▲ 34.6%
Total assets€1.4mwithin the sector's middle half▼ 7.6%€1.2mwithin the sector's middle half▼ 12.7%€1.2mwithin the sector's middle half▼ 0.8%€1.3mwithin the sector's middle half▲ 4.1%€1.2mbelow the sector's middle half▼ 4.1%
Debt€291,553▼ 36.1%€631,373▲ 117%€459,325▼ 27.2%€590,436▲ 28.5%€297,991▼ 49.5%
Working capital€988,474above the sector's middle half▲ 4.8%€412,752within the sector's middle half▼ 58.2%€593,226within the sector's middle half▲ 43.7%€531,535within the sector's middle half▼ 10.4%€814,091within the sector's middle half▲ 53.2%
Solvency79.5%above the sector's middle half▲ 9.2pp49.3%within the sector's middle half▼ 30.3pp62.8%within the sector's middle half▲ 13.5pp54.0%within the sector's middle half▼ 8.7pp75.8%above the sector's middle half▲ 21.8pp
Current ratio4.65above the sector's middle half▲ 1.461.69within the sector's middle half▼ 2.972.32within the sector's middle half▲ 0.631.91within the sector's middle half▼ 0.413.73above the sector's middle half▲ 1.83
Return on assets (ROA)6.9%within the sector's middle half▼ 0.6pp10.4%within the sector's middle half▲ 3.5pp17.2%above the sector's middle half▲ 6.8pp6.9%within the sector's middle half▼ 10.3pp19.5%above the sector's middle half▲ 12.5pp
Staff (FTE)3.9within the sector's middle half▲ 18.2%3.1within the sector's middle half▼ 20.5%1.1within the sector's middle half▼ 64.5%1.1within the sector's middle half=1.2below the sector's middle half▲ 9.1%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2025 Net result +169% on 2024. The accounts now follow the full schema, last year the abbreviated schema.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 152% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.2m
Fixed assets
€120,229 ▼ 27.7%
Current assets
€1.1m ▼ 0.6%
Equity and liabilities €1.2m
Equity
€934,320 ▲ 34.6%
Debt
€297,991 ▼ 49.5%
Debt's share of the balance-sheet total falls from 46.0% to 24.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€389,679▲
2024 · €195,283
Cash flow
€304,476▲
2024 · €155,528
Quick ratio
3.11▲
2024 · 1.66
Debt to equity
0.32▼
2024 · 0.85
ROE
25.7%▲
2024 · 12.8%
Interest coverage
72.59▲
2024 · 30.02
Debt ≤ 1 year
€297,991▼
2024 · €587,036
Income taxes
€89,051▲
2024 · €33,596
Staff costs
€119,151▲
2024 · €101,925
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,349 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,349 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €28 | - | €1,042 | €452 | ▼ 56.6% |
| Remuneration, social security and pensions62 | €267,458 | €255,117 | €83,927 | €101,925 | €119,151 | ▲ 16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €38,660 | €62,798 | €60,299 | €66,378 | €64,512 | ▼ 2.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €2,593 | €2,650 | - | -€3,246 | - | - |
| Other operating charges640/8 | €2,233 | €2,263 | €2,445 | €3,502 | €2,091 | ▼ 40.3% |
| Non-recurring operating charges66A | - | €163 | €51 | €267 | - | - |
| Gross operating margin9900 | €467,383 | €521,157 | €445,890 | €297,732 | €510,921 | ▲ 71.6% |
| Operating profit (loss)9901 | €156,438 | €198,165 | €299,168 | €128,905 | €325,167 | ▲ 152% |
| Financial income75/76B | €1,464 | €3,678 | €430 | €347 | €9,216 | ▲ 2,558% |
| Recurring financial income75 | €1,464 | €3,678 | €430 | €347 | €9,216 | ▲ 2,558% |
| Financial charges65/66B | €20,341 | €22,198 | €8,394 | €6,505 | €5,368 | ▼ 17.5% |
| Recurring financial charges65 | €20,341 | €22,198 | €8,394 | €6,505 | €5,368 | ▼ 17.5% |
| Profit (loss) for the period before taxes9903 | €137,562 | €179,645 | €291,204 | €122,746 | €329,015 | ▲ 168% |
| Income taxes67/77 | €38,953 | €50,296 | €78,901 | €33,596 | €89,051 | ▲ 165% |
| Profit (loss) for the period9904 | €98,608 | €129,349 | €212,303 | €89,150 | €239,964 | ▲ 169% |
| Profit (loss) for the period to be appropriated9905 | €98,608 | €129,349 | €212,303 | €89,150 | €239,964 | ▲ 169% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.4m | €1.2m | €1.2m | €1.3m | €1.2m | ▼ 4.1% |
| Fixed assets21/28 | €165,924 | €229,596 | €190,310 | €166,222 | €120,229 | ▼ 27.7% |
| Intangible fixed assets21 | €107,344 | €158,142 | €143,966 | €116,227 | €86,462 | ▼ 25.6% |
| Tangible fixed assets22/27 | €58,581 | €71,454 | €46,344 | €49,994 | €33,768 | ▼ 32.5% |
| Plant, machinery and equipment23 | €19,455 | €42,955 | €23,339 | €38,383 | €31,298 | ▼ 18.5% |
| Furniture and vehicles24 | €17,466 | €12,910 | €12,271 | €5,734 | €2,470 | ▼ 56.9% |
| Other tangible fixed assets26 | €21,660 | €15,590 | €10,733 | €5,877 | - | - |
| Current assets29/58 | €1.3m | €1.0m | €1.0m | €1.1m | €1.1m | ▼ 0.6% |
| Stocks and contracts in progress3 | €170,333 | €264,537 | €164,502 | €145,419 | €185,820 | ▲ 27.8% |
| Stocks30/36 | €170,333 | €264,537 | €164,502 | €145,419 | €185,820 | ▲ 27.8% |
| Amounts receivable within one year40/41 | €306,116 | €522,226 | €567,243 | €654,731 | €459,121 | ▼ 29.9% |
| Trade receivables40 | €267,108 | €454,388 | €521,955 | €595,887 | €440,700 | ▼ 26.0% |
| Other amounts receivable41 | €39,009 | €67,838 | €45,288 | €58,844 | €18,421 | ▼ 68.7% |
| Cash at bank and in hand54/58 | €762,137 | €206,653 | €290,787 | €295,751 | €433,793 | ▲ 46.7% |
| Deferred charges and accrued income490/1 | €20,596 | €21,263 | €21,690 | €22,669 | €33,348 | ▲ 47.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.4m | €1.2m | €1.2m | €1.3m | €1.2m | ▼ 4.1% |
| Equity10/15 | €1.1m | €612,903 | €775,206 | €694,356 | €934,320 | ▲ 34.6% |
| Contributions10/11 | €74,368 | €74,368 | €74,368 | €74,368 | €74,368 | = |
| Capital10 | €74,368 | €74,368 | €74,368 | €74,368 | €74,368 | = |
| Issued capital100 | €74,368 | €74,368 | €74,368 | €74,368 | €74,368 | = |
| Reserves13 | €7,437 | €7,437 | €7,437 | €7,437 | €7,437 | = |
| Non-distributable reserves130/1 | €7,437 | €7,437 | €7,437 | €7,437 | €7,437 | = |
| Legal reserve130 | €7,437 | €7,437 | €7,437 | €7,437 | €7,437 | = |
| Profit (loss) carried forward14 | €1.1m | €531,098 | €693,401 | €612,551 | €852,515 | ▲ 39.2% |
| Amounts payable17/49 | €291,553 | €631,373 | €459,325 | €590,436 | €297,991 | ▼ 49.5% |
| Amounts payable after more than one year17 | €15,244 | €23,645 | €2,430 | - | - | - |
| Financial debts170/4 | €15,244 | €23,645 | €2,430 | - | - | - |
| Amounts payable within one year42/48 | €270,709 | €601,928 | €450,995 | €587,036 | €297,991 | ▼ 49.2% |
| Current portion of amounts payable after more than one year42 | €5,532 | €84,490 | €21,215 | €2,430 | - | - |
| Trade debts44 | €145,170 | €436,067 | €320,429 | €345,899 | €186,628 | ▼ 46.0% |
| Suppliers440/4 | €145,170 | €436,067 | €320,429 | €345,899 | €186,628 | ▼ 46.0% |
| Taxes, remuneration and social security45 | €47,878 | €9,243 | €38,158 | €48,685 | €111,363 | ▲ 129% |
| Taxes450/3 | €14,955 | €2,659 | €28,006 | €36,175 | €96,916 | ▲ 168% |
| Remuneration and social security454/9 | €32,923 | €6,584 | €10,152 | €12,510 | €14,448 | ▲ 15.5% |
| Other amounts payable47/48 | €72,129 | €72,129 | €71,193 | €190,022 | - | - |
| Accrued charges and deferred income492/3 | €5,600 | €5,801 | €5,901 | €3,401 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €98,608 | €129,349 | €212,303 | €89,150 | €239,964 | ▲ 169% |
| + Depreciation and write-downs630 | €38,660 | €62,798 | €60,299 | €66,378 | €64,512 | ▼ 2.8% |
| Operating cash flow (approximation) | €137,268 | €192,147 | €272,602 | €155,528 | €304,476 | ▲ 95.8% |
| Investment in fixed assets (approximation) | - | -€126,470 | -€21,013 | -€42,290 | -€18,520 | ▲ 56.2% |
| Change in cash | - | -€555,484 | €84,134 | €4,964 | €138,042 | ▲ 2,681% |
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
01-09
State Gazette act
Appointment: Audit Van Goolen BV (statutory auditor)Permanent representative: Bert Van Goolen · Power of attorney4 facts ▸
State Gazette act
Appointment: Audit Van Goolen BV (statutory auditor)
Permanent representative: Bert Van Goolen · Power of attorney4 facts ▸
- General meeting, 29-06-2026
- Auditor appointment, Audit Van Goolen BV (statutory auditor)
- Permanent representative, Bert Van Goolen (permanent representative)
- Power of attorney, Philip Bourgeois (vaste vertegenwoordiger van ph.a. bourgeois commv, bestuurder van accountancy bourgeois & partners bv)
06-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
16-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
29-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-09
Financial
Weakest financial yearnet €51,966 ▼92.7%
Net result drops to €51,966, the lowest in the series; recovery starts the following year.
30-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
25-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
29-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 11 acts read
About the unread acts
Of the 11 Belgian State Gazette acts we know for this company, 1 has been read. The other 10 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
Statutory auditor 1
AUDIT VAN GOOLEN
CurrentStatutory auditor · since 29-06-2026 · perm. rep.: Bert Van Goolen
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Location & real-estate footprint
Registered office, Mechelen · 1 establishment unit since 2019
Ground area
6,629 m²
Building footprint
473 m²
Volume, LiDAR
3,047 m³
Parcel 12402A0187/00B002, Flanders · tallest building 7.6 m, ±2 floors. Linked by address, not a title deed.
16
companies at this address
See who is registered here
1 establishment unit
Generaal De Wittelaan 9, 2800 Mechelen
since 20192.287.138.353
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12402A0187/00B002 | Flanders | 6,629 m² | 1 · 473 m² | 7.6 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.
Mandate history
1 person since 2026, 1 in office
- Statutory auditor
| Name | Functions and periods |
|---|---|
| AUDIT VAN GOOLEN |
|
Articles of association
Other statement
Naam en handtekening (dit geldt niet voor akten van het type Mededelingen), Naam en hoedanigheid van de instrumenterende notaris, hetzij van de perso(o)n(en) be…
Public money · subsidies and aid
Flemish government
2022 to 2024 · 3 entries · 11,610 EUR awarded · 11,610 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 0 EUR | 7,500 EUR |
| 2023 | 1 | 7,500 EUR | 3,750 EUR |
| 2022 | 1 | 4,110 EUR | 360 EUR |
Recognitions · licences · registrations
Legal Entity Identifier
549300URMIU9XPMLCV85
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Of 1,903 companies in sector 46460 we hold annual accounts for 1,126. 763 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
Founded27-12-1989
Fiscal year end31-12
Activities, NACEBEL 2025
46460Wholesale of pharmaceutical and medical goods
E-invoicing
Reachable via Peppol
Peppol ID
0208:0439518678
Registered
15-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.