VEDELEC
ActiveSummary
VEDELEC has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €3.81M and a net result of €1.63M. Equity is growing by ~11.4% per year across the filed fiscal years. Its solvency ranks better than 41% of 5989 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
68
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability76▼-5
Solvency59▲+1
Growth49▼-22
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €250k at 30 days acceptable
Liquidity ample (current ratio 1.96 against 1.95 in 2023; short-term debt: 42.6% and cash: 7.9% of total assets), but 65.9% of the assets are financed with debt.
Credit advice for your own amount and term
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
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
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
34.1%
Return on assets
14.6%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 18-06-2025, 43 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
43 d early
2023
40 d early
2022
38 d early
2021
23 d early
2020
36 d early
2019
14 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
€28.14M▼ 9.0%
2023 · €30.92M
2020: €25.07M
2021: €26.31M
2022: €28.87M
2023: €30.92M
2020 → 2024
EBIT margin
6.6%▼ 1.5pp
2023 · 8.1%
2020: 7.3%
2021: 6.8%
2022: 7.5%
2023: 8.1%
2020 → 2024
Net result
€1.63M▼ 24.7%
2023 · €2.16M
2020: €1.64M
2021: €1.56M
2022: €1.93M
2023: €2.16M
2020 → 2024
Working capital
€4.58M▼ 5.5%
2023 · €4.85M
2020: €3.21M
2021: €3.38M
2022: €3.85M
2023: €4.85M
2020 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€25.07M-€26.31M▲ 5.0%€28.87M▲ 9.7%€30.92M▲ 7.1%€28.14M▼ 9.0%
Equity€2.51M-€2.81M▲ 12.0%€3.12M▲ 11.2%€3.88M▲ 24.1%€3.81M▼ 1.8%
Operating result€1.83M-€1.79M▼ 2.1%€2.16M▲ 20.7%€2.51M▲ 16.6%€1.86M▼ 25.9%
Net result€1.64M-€1.56M▼ 4.8%€1.93M▲ 23.4%€2.16M▲ 12.4%€1.63M▼ 24.7%
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 26% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €11.16M
Fixed assets
€1.83M ▼ 3.9%
Current assets
€9.34M ▼ 6.3%
Equity and liabilities €11.16M
Equity
€3.81M ▼ 1.8%
Provisions
€182k ▼ 9.1%
Debt
€7.17M ▼ 7.9%
Debt's share of the balance-sheet total falls from 65.6% to 64.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€2.36M▼
2023 · €2.98M
Cash flow
€2.13M▼
2023 · €2.63M
Current ratio
1.96▲
2023 · 1.95
Quick ratio
1.02▼
2023 · 1.05
Debt to equity
1.88▼
2023 · 2.01
ROE
42.8%▼
2023 · 55.8%
ROA
14.6%▼
2023 · 18.2%
Interest coverage
1425.75▲
2023 · 1047.74
Debt ≤ 1 year
€4.76M▼
2023 · €5.12M
Debt > 1 year
€2.41M▼
2023 · €2.67M
Income taxes
€261k▼
2023 · €363k
Staff costs
€2.10M▲
2023 · €2.03M
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 · 2024 against 2023 · 95 lines
Balance sheet
Code20232024
Assets
Total assets20/58€11.87M€11.16M▼
Fixed assets21/28€1.90M€1.83M▼
Intangible fixed assets21€753k€803k▲
Tangible fixed assets22/27€1.15M€1.02M▼
Land and buildings22€961k€894k▼
Plant, machinery and equipment23€137k€103k▼
Furniture and vehicles24€43k€23k▼
Other tangible fixed assets26€4k€1k▼
Financial fixed assets28€2k€2k=
Other financial fixed assets284/8€2k€2k=
Amounts receivable and cash guarantees285/8€2k€2k=
Current assets29/58€9.97M€9.34M▼
Amounts receivable after more than one year29-€75k
Other amounts receivable291-€75k
Stocks and contracts in progress3€4.60M€4.50M▼
Stocks30/36€4.60M€4.50M▼
Raw materials and consumables30/31€46k€35k▼
Goods purchased for resale34€4.55M€4.46M▼
Amounts receivable within one year40/41€2.37M€3.37M▲
Trade receivables40€2.21M€1.99M▼
Other amounts receivable41€166k€1.38M▲
Current investments50/53-€500k
Other investments51/53-€500k
Cash at bank and in hand54/58€2.97M€887k▼
Deferred charges and accrued income490/1€32k€6k▼
Equity and liabilities
Total equity and liabilities10/49€11.87M€11.16M▼
Equity10/15€3.88M€3.81M▼
Contributions10/11€1.12M€1.12M=
Capital10€1.12M€1.12M=
Issued capital100€1.14M€1.14M=
Uncalled capital101€27k€27k=
Reserves13€2.64M€2.58M▼
Non-distributable reserves130/1€114k€114k=
Legal reserve130€114k€114k=
Tax-exempt reserves132€430k€393k▼
Distributable reserves133€2.10M€2.07M▼
Investment grants15€117k€118k▲
Provisions and deferred taxes16€201k€182k▼
Provisions for liabilities and charges160/5€58k€52k▼
Other liabilities and charges164/5€58k€52k▼
Deferred taxes168€143k€131k▼
Amounts payable17/49€7.79M€7.17M▼
Amounts payable after more than one year17€2.67M€2.41M▼
Financial debts170/4€2.67M€2.41M▼
Credit institutions173€84k€38k▼
Other loans174€2.58M€2.38M▼
Amounts payable within one year42/48€5.12M€4.76M▼
Current portion of amounts payable after more than one year42€73k€46k▼
Trade debts44€2.66M€2.41M▼
Suppliers440/4€2.66M€2.41M▼
Taxes, remuneration and social security45€987k€606k▼
Taxes450/3€601k€360k▼
Remuneration and social security454/9€386k€246k▼
Other amounts payable47/48€1.40M€1.70M▲
Income statement
Code20232024
Operating income70/76A€30.99M€28.30M▼
Turnover70€30.92M€28.14M▼
Other operating income74€70k€53k▼
Non-recurring operating income76A€10€111k▲
Operating charges60/66A€28.48M€26.44M▼
Goods for resale, raw materials and consumables60€22.19M€19.53M▼
Purchases600/8€22.97M€19.48M▼
Change in stocks: decrease (increase)609€-778k€45k▲
Services and other goods61€3.74M€4.09M▲
Remuneration, social security and pensions62€2.03M€2.10M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€467k€499k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€16k€80k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€3k€-6k▼
Other operating charges640/8€26k€33k▲
Non-recurring operating charges66A€2k€122k▲
Operating profit (loss)9901€2.51M€1.86M▼
Financial income75/76B€13k€30k▲
Recurring financial income75€13k€30k▲
Income from current assets751-€8k
Other financial income752/9€13k€22k▲
Financial charges65/66B€14k€13k▼
Recurring financial charges65€14k€13k▼
Debt charges650€3k€2k▼
Other financial charges652/9€11k€12k▲
Profit (loss) for the period before taxes9903€2.51M€1.88M▼
Transfer from deferred taxes780€12k€12k=
Income taxes67/77€363k€261k▼
Taxes670/3€363k€262k▼
Tax adjustments and reversals of tax provisions77-€856
Profit (loss) for the period9904€2.16M€1.63M▼
Transfer from tax-exempt reserves789€37k€37k=
Profit (loss) for the period to be appropriated9905€2.20M€1.67M▼
Appropriation of the result
Profit (loss) to be appropriated9906€2.20M€1.67M▼
Transfer from equity791/2-€32k
From reserves792-€32k
Transfer to equity691/2€802k-
To other reserves6921€802k-
Profit to be distributed694/7€1.40M€1.70M▲
Return on contributions (dividend)694€100k€800k▲
Directors or managers695€1.30M€900k▼
Social balance
Average headcount (FTE)908739.538.8▼
The notes to these accounts (81 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
04-09
State Gazette act
Resignation: Olivier Guyon de Montlivault (permanent representative)Permanent representative: David Barth3 facts ▸
State Gazette act
Resignation: Olivier Guyon de Montlivault (permanent representative)
Permanent representative: David Barth3 facts ▸
- Board meeting, 30-07-2026
- Director resignation, Olivier Guyon de Montlivault (permanent representative)
- Permanent representative, David Barth
2025
18-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2020net €2.16M ▲12.4%
Operating result €2.51M, net result €2.16M, both a record.
23-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
08-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Weakest financial yearnet €1.56M ▼4.8%
Net result drops to €1.56M, the lowest in the series; recovery starts the following year.
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
14-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 14 days late
2019
14-02
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 14 days late
2017
29-12
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
02-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 2 days late
2016
30-03
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 59 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
23-07-2026
Resigned as Permanent representative
Location & real-estate footprint
Registered office, Ath · 1 establishment unit since 2015
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue du Parc Industriel(GHI) 327822 AthGround area
8,313 m²
Building footprint
4,128 m²
Volume, LiDAR
27,660 m³
Parcel 51024A0452/00D000, Wallonia · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue du Parc Industriel(GHI) 32, 7822 Ath
since 20152.242.290.701
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 51024A0452/00D000 | Wallonia | 8,313 m² | 1 · 4,128 m² | 8.8 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
FACE
BE 0448.180.481
Boom · Eq €3.81M
PERFORMANCE IN LIGHTING BE
BE 0406.511.063
Brussel · Eq €3.89M
SANDERS & STASSEN
BE 0432.914.166
Hasselt · Eq €3.70M
CARBOMAT
BE 0880.971.717
Halle · Eq €3.94M
GIELEN
BE 0436.860.977
Sint-Truiden · Eq €4.00M
Of 977 companies in sector 46431 we hold annual accounts for 705. 315 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded20-08-1983
Fiscal year end31-12
Activities, NACEBEL 2025
46431Wholesale of electrical household appliances and audio-video equipment
Sources
Crossroads Bank for EnterprisesNational Bank · 41 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.