VEDOFIN
ActiveSummary
VEDOFIN has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €923,206 and a net result of €52,175. Equity is growing by ~3.1% per year across the filed fiscal years. Its solvency ranks better than 56% of 8737 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability73▼-16
Solvency84▼-6
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €70,000 at 30 days acceptable
Liquidity short (current ratio 0.75 against 0.59 in 2024; short-term debt: 36.2% and cash: 3% of total assets), and 41.4% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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
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
58.6%
Return on assets
3.3%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 10-09-2025, 143 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
143 d early
2024
136 d early
2023
76 d early
2022
63 d early
2021
76 d early
2020
65 d early
2019
88 d early
← 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 92 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
€208,150
EBIT margin
19.5%
Net result
€52,175▼ 78.1%
2024 · €237,718
Working capital
-€143,806▲ 19.0%
2024 · -€177,555
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€208,150
Operating result-€13,416€40,547€23,901▼ 41.1%€318,700▲ 1,233%€68,940▼ 78.4%
Net result-€13,276€31,322€17,095▼ 45.4%€237,718▲ 1,291%€52,175▼ 78.1%
EBIT margin19.5%
Equity€725,896▼ 1.8%€757,218▲ 4.3%€744,313▼ 1.7%€971,031▲ 30.5%€923,206▼ 4.9%
Total assets€808,665▼ 3.8%€873,940▲ 8.1%€1.1m▲ 28.2%€1.5m▲ 32.9%€1.6m▲ 5.8%
Debt€82,769▼ 18.5%€116,722▲ 41.0%€376,148▲ 222%€433,443▲ 15.2%€570,525▲ 31.6%
Working capital€197,958▼ 10.2%€235,930▲ 19.2%€12,631▼ 94.6%-€177,555-€143,806▲ 19.0%
Staff (FTE)3=2.9▼ 3.3%2▼ 31.0%2.3▲ 15.0%3▲ 30.4%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 78% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.6m
Fixed assets
€1.1m ▼ 6.8%
Current assets
€426,719 ▲ 66.8%
Equity and liabilities €1.6m
Equity
€923,206 ▼ 4.9%
Provisions
€81,525 ▼ 3.1%
Debt
€570,525 ▲ 31.6%
Debt's share of the balance-sheet total rises from 29.1% to 36.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€155,881▼
2024 · €407,724
Cash flow
€139,117▼
2024 · €326,741
Current ratio
0.75▲
2024 · 0.59
Debt to equity
0.62▲
2024 · 0.45
ROE
5.7%▼
2024 · 24.5%
ROA
3.3%▼
2024 · 16.0%
Interest coverage
2297.44▼
2024 · 7603.95
Debt ≤ 1 year
€570,525▲
2024 · €433,443
Income taxes
€21,096▲
2024 · €1,271
Staff costs
€107,461▲
2024 · €99,891
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 16,986 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,058 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% | 1.6% |
| 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 74% 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 16,986 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 |
|---|---|---|---|---|---|---|
| Turnover70 | - | €208,150 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €77,847 | - | - | - | - |
| Remuneration, social security and pensions62 | - | €141,386 | €99,070 | €99,891 | €107,461 | ▲ 7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,651 | €6,651 | €66,026 | €89,024 | €86,942 | ▼ 2.3% |
| Other operating charges640/8 | - | €2,465 | €2,466 | €21,748 | €23,162 | ▲ 6.5% |
| Gross operating margin9900 | €140,398 | €191,048 | €191,464 | €529,363 | €286,504 | ▼ 45.9% |
| Operating profit (loss)9901 | -€13,416 | €40,547 | €23,901 | €318,700 | €68,940 | ▼ 78.4% |
| Financial income75/76B | - | €169 | €359 | €4,434 | €1,832 | ▼ 58.7% |
| Recurring financial income75 | - | €169 | €359 | €4,434 | €1,832 | ▼ 58.7% |
| Financial charges65/66B | - | €73 | €62 | €54 | €68 | ▲ 26.5% |
| Recurring financial charges65 | €144 | €73 | €62 | €54 | €68 | ▲ 26.5% |
| Profit (loss) for the period before taxes9903 | -€13,560 | €40,642 | €24,198 | €323,081 | €70,703 | ▼ 78.1% |
| Transfer from deferred taxes780 | - | - | - | €642 | €2,568 | ▲ 300% |
| Transfer to deferred taxes680 | - | - | - | €84,734 | - | - |
| Income taxes67/77 | -€284 | €9,320 | €7,104 | €1,271 | €21,096 | ▲ 1,560% |
| Profit (loss) for the period9904 | -€13,276 | €31,322 | €17,095 | €237,718 | €52,175 | ▼ 78.1% |
| Transfer from tax-exempt reserves789 | - | - | - | €1,926 | €7,703 | ▲ 300% |
| Transfer to tax-exempt reserves689 | - | - | - | €254,203 | - | - |
| Profit (loss) for the period to be appropriated9905 | -€13,276 | €31,322 | €17,095 | -€14,560 | €59,878 | ▲ 511% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €808,665 | €873,940 | €1.1m | €1.5m | €1.6m | ▲ 5.8% |
| Fixed assets21/28 | €527,938 | €521,288 | €731,682 | €1.2m | €1.1m | ▼ 6.8% |
| Tangible fixed assets22/27 | €527,938 | €521,288 | €731,682 | €1.2m | €1.1m | ▼ 6.8% |
| Land and buildings22 | - | €516,208 | €728,335 | €1.2m | €1.1m | ▼ 6.9% |
| Plant, machinery and equipment23 | - | - | - | - | €2,636 | - |
| Furniture and vehicles24 | - | €5,080 | €3,347 | €2,606 | €571 | ▼ 78.1% |
| Current assets29/58 | €280,726 | €352,652 | €388,779 | €255,888 | €426,719 | ▲ 66.8% |
| Amounts receivable within one year40/41 | €25,419 | €24,843 | €73,563 | €65,914 | €229,468 | ▲ 248% |
| Trade receivables40 | - | €24,843 | €73,563 | €60,914 | €225,318 | ▲ 270% |
| Other amounts receivable41 | - | - | - | €5,000 | €4,150 | ▼ 17.0% |
| Current investments50/53 | €150,681 | €150,681 | €150,681 | €150,681 | €150,681 | = |
| Cash at bank and in hand54/58 | €104,626 | €177,128 | €164,535 | €39,293 | €46,570 | ▲ 18.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €808,665 | €873,940 | €1.1m | €1.5m | €1.6m | ▲ 5.8% |
| Equity10/15 | €725,896 | €757,218 | €744,313 | €971,031 | €923,206 | ▼ 4.9% |
| Contributions10/11 | €77,000 | €77,000 | €77,000 | €77,000 | €77,000 | = |
| Capital10 | - | €77,000 | €77,000 | €77,000 | €77,000 | = |
| Issued capital100 | - | €77,000 | €77,000 | €77,000 | €77,000 | = |
| Reserves13 | €155,267 | €185,267 | €172,267 | €413,545 | €365,642 | ▼ 11.6% |
| Non-distributable reserves130/1 | - | €8,735 | €8,735 | €8,735 | €8,735 | = |
| Legal reserve130 | - | €8,735 | €8,735 | €8,735 | €8,735 | = |
| Tax-exempt reserves132 | - | - | - | €252,277 | €244,574 | ▼ 3.1% |
| Distributable reserves133 | - | €176,532 | €163,532 | €152,532 | €112,332 | ▼ 26.4% |
| Profit (loss) carried forward14 | €493,629 | €494,951 | €495,046 | €480,486 | €480,564 | = |
| Provisions and deferred taxes16 | - | - | - | €84,092 | €81,525 | ▼ 3.1% |
| Deferred taxes168 | - | - | - | €84,092 | €81,525 | ▼ 3.1% |
| Amounts payable17/49 | €82,769 | €116,722 | €376,148 | €433,443 | €570,525 | ▲ 31.6% |
| Amounts payable within one year42/48 | €82,769 | €116,722 | €376,148 | €433,443 | €570,525 | ▲ 31.6% |
| Trade debts44 | €15,580 | €28,784 | €14,558 | €10,263 | €57,811 | ▲ 463% |
| Suppliers440/4 | - | €28,784 | €14,558 | €10,263 | €57,811 | ▲ 463% |
| Taxes, remuneration and social security45 | - | €66,638 | €38,250 | €40,892 | €43,090 | ▲ 5.4% |
| Taxes450/3 | - | €27,062 | €17,138 | €17,986 | €16,340 | ▼ 9.2% |
| Remuneration and social security454/9 | - | €39,576 | €21,112 | €22,906 | €26,751 | ▲ 16.8% |
| Other amounts payable47/48 | - | €21,300 | €323,339 | €382,288 | €469,623 | ▲ 22.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€13,276 | €31,322 | €17,095 | €237,718 | €52,175 | ▼ 78.1% |
| + Depreciation and write-downs630 | €6,651 | €6,651 | €66,026 | €89,024 | €86,942 | ▼ 2.3% |
| Operating cash flow (approximation) | -€6,625 | €37,973 | €83,121 | €326,741 | €139,117 | ▼ 57.4% |
| Investment in fixed assets (approximation) | - | €0 | -€276,420 | -€590,020 | -€2,800 | ▲ 99.5% |
| Change in cash | - | €72,502 | -€12,593 | -€125,242 | €7,277 | ▲ 106% |
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
2025
10-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2024
17-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
30-06
Financial
Highest result since 2019net €237,718 ▲1,291%
Operating result €318,700, net result €237,718, both a record.
2023
16-11
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
29-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
30-06
Financial
Back to profitnet €31,322
Net result €31,322 after one loss-making year.
2021
16-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
30-06
Financial
Weakest financial yearnet -€13,276
Net result drops to -€13,276, the lowest in the series; recovery starts the following year.
2020
27-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
30-06
Financial
Liquidity times 6current ratio 3.34
Current ratio from 0.55 to 3.34; short-term debt falls from €96,103 to €94,236.
2019
04-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
08-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
09-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
09-11
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Dendermonde · 1 establishment unit since 2002
Ground area
6,928 m²
Building footprint
1,649 m²
Volume, LiDAR
11,551 m³
Parcel 42002B0792/00K000, Flanders · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Hoogveld 103, 9200 Dendermonde
since 20022.103.018.297
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42002B0792/00K000 | Flanders | 6,928 m² | 1 · 1,649 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.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 1,605 EUR awarded · 1,605 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 1,605 EUR | 1,605 EUR |
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 28,729 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
Founded21-12-1995
Fiscal year end30-06
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0456827042
Registered
04-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.