Summary
VEGACO is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €175,091 and a net result of €25,893. Equity is growing by ~24.3% per year across the filed fiscal years. Its solvency ranks better than 43% of 8091 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 24-03-2026, 37 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
37 d early
2024
49 d early
2023
43 d early
2022
44 d early
2021
30 d early
2020
43 d early
2019
38 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 41 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 19 March (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€175,091▼ 36.1%
2024 · €274,197
Net result
€25,893▲ 30.4%
2024 · €19,863
Total assets
€410,384▼ 13.3%
2024 · €473,606
Solvency
42.7%▼ 15.2pp
2024 · 57.9%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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€98,307▲ 94.6%€118,400▲ 20.4%€25,135▼ 78.8%€24,301▼ 3.3%€30,931▲ 27.3%
Net result€73,262above the sector's middle half▲ 109%€89,887above the sector's middle half▲ 22.7%€17,892within the sector's middle half▼ 80.1%€19,863within the sector's middle half▲ 11.0%€25,893within the sector's middle half▲ 30.4%
Equity€146,556within the sector's middle half▲ 100.0%€236,443within the sector's middle half▲ 61.3%€254,335within the sector's middle half▲ 7.6%€274,197within the sector's middle half▲ 7.8%€175,091within the sector's middle half▼ 36.1%
Total assets€523,822within the sector's middle half▲ 12.9%€593,092within the sector's middle half▲ 13.2%€574,481within the sector's middle half▼ 3.1%€473,606within the sector's middle half▼ 17.6%€410,384within the sector's middle half▼ 13.3%
Debt€377,266▼ 3.4%€356,649▼ 5.5%€320,146▼ 10.2%€199,408▼ 37.7%€235,293▲ 18.0%
Working capital€70,356within the sector's middle half▲ 630%€149,939above the sector's middle half▲ 113%€163,561above the sector's middle half▲ 9.1%-€41,493below the sector's middle half-€134,126below the sector's middle half▼ 223%
Solvency28.0%within the sector's middle half▲ 12.2pp39.9%within the sector's middle half▲ 11.9pp44.3%within the sector's middle half▲ 4.4pp57.9%within the sector's middle half▲ 13.6pp42.7%within the sector's middle half▼ 15.2pp
Current ratio1.75within the sector's middle half▲ 0.642.58within the sector's middle half▲ 0.823.08within the sector's middle half▲ 0.500.78within the sector's middle half▼ 2.290.41below the sector's middle half▼ 0.37
Return on assets (ROA)14.0%within the sector's middle half▲ 6.4pp15.2%within the sector's middle half▲ 1.2pp3.1%within the sector's middle half▼ 12.0pp4.2%within the sector's middle half▲ 1.1pp6.3%within the sector's middle half▲ 2.1pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 27% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €410,384
Fixed assets
€316,577 ▼ 2.3%
Current assets
€93,807 ▼ 37.2%
Equity and liabilities €410,384
Equity
€175,091 ▼ 36.1%
Debt
€235,293 ▲ 18.0%
Debt's share of the balance-sheet total rises from 42.1% to 57.3%. Equity is lower and debt is higher.
Key figures and ratios
ROE
14.8%▲
2024 · 7.2%
Debt ≤ 1 year
€227,933▲
2024 · €190,908
Income taxes
€6,688▲
2024 · €5,252
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,088 | €15,692 | €15,844 | €7,946 | €7,613 | ▼ 4.2% |
| Other operating charges640/8 | - | €2,365 | €2,520 | €2,775 | €2,776 | = |
| Gross operating margin9900 | €115,727 | €136,457 | €43,498 | €35,022 | €41,320 | ▲ 18.0% |
| Operating profit (loss)9901 | €98,307 | €118,400 | €25,135 | €24,301 | €30,931 | ▲ 27.3% |
| Financial income75/76B | - | €415 | €3,673 | €10,274 | €9,054 | ▼ 11.9% |
| Recurring financial income75 | - | €415 | €3,673 | €10,274 | €9,054 | ▼ 11.9% |
| Financial charges65/66B | - | €5,917 | €6,302 | €9,460 | €7,404 | ▼ 21.7% |
| Recurring financial charges65 | €6,311 | €5,917 | €6,302 | €9,460 | €7,404 | ▼ 21.7% |
| Profit (loss) for the period before taxes9903 | €91,995 | €112,898 | €22,506 | €25,115 | €32,582 | ▲ 29.7% |
| Income taxes67/77 | €18,733 | €23,011 | €4,614 | €5,252 | €6,688 | ▲ 27.3% |
| Profit (loss) for the period9904 | €73,262 | €89,887 | €17,892 | €19,863 | €25,893 | ▲ 30.4% |
| Profit (loss) for the period to be appropriated9905 | €73,262 | €89,887 | €17,892 | €19,863 | €25,893 | ▲ 30.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €523,822 | €593,092 | €574,481 | €473,606 | €410,384 | ▼ 13.3% |
| Fixed assets21/28 | €359,914 | €347,980 | €332,136 | €324,190 | €316,577 | ▼ 2.3% |
| Tangible fixed assets22/27 | €359,914 | €347,980 | €332,136 | €324,190 | €316,577 | ▼ 2.3% |
| Land and buildings22 | - | €337,523 | €324,250 | €318,100 | €311,950 | ▼ 1.9% |
| Plant, machinery and equipment23 | - | €9,592 | €7,420 | €6,023 | €4,627 | ▼ 23.2% |
| Furniture and vehicles24 | - | €865 | €466 | €67 | - | - |
| Current assets29/58 | €163,908 | €245,112 | €242,345 | €149,416 | €93,807 | ▼ 37.2% |
| Amounts receivable within one year40/41 | €69,716 | €191,972 | €142,831 | €106,625 | €41,387 | ▼ 61.2% |
| Trade receivables40 | - | €130,184 | €6,444 | €6,546 | €8,387 | ▲ 28.1% |
| Other amounts receivable41 | - | €61,788 | €136,386 | €100,079 | €33,000 | ▼ 67.0% |
| Current investments50/53 | - | - | €90,000 | - | - | - |
| Cash at bank and in hand54/58 | €94,192 | €53,141 | €9,514 | €42,791 | €52,420 | ▲ 22.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €523,822 | €593,092 | €574,481 | €473,606 | €410,384 | ▼ 13.3% |
| Equity10/15 | €146,556 | €236,443 | €254,335 | €274,197 | €175,091 | ▼ 36.1% |
| Contributions10/11 | - | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Reserves13 | €121,556 | €211,443 | €229,335 | €249,197 | €150,091 | ▼ 39.8% |
| Non-distributable reserves130/1 | - | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Reserves not available under the articles1311 | - | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Distributable reserves133 | - | €208,943 | €226,835 | €246,697 | €147,591 | ▼ 40.2% |
| Amounts payable17/49 | €377,266 | €356,649 | €320,146 | €199,408 | €235,293 | ▲ 18.0% |
| Amounts payable after more than one year17 | €281,660 | €259,493 | €237,045 | - | - | - |
| Financial debts170/4 | - | €259,493 | €237,045 | - | - | - |
| Amounts payable within one year42/48 | €93,552 | €95,173 | €78,784 | €190,908 | €227,933 | ▲ 19.4% |
| Current portion of amounts payable after more than one year42 | - | €22,167 | €22,448 | - | - | - |
| Trade debts44 | €1,270 | €1,193 | €3,889 | €1,668 | €3,734 | ▲ 124% |
| Suppliers440/4 | - | €1,193 | €3,889 | €1,668 | €3,734 | ▲ 124% |
| Taxes, remuneration and social security45 | - | €24,718 | €6,219 | €6,231 | €7,356 | ▲ 18.1% |
| Taxes450/3 | - | €24,718 | €3,084 | €3,096 | €4,221 | ▲ 36.3% |
| Remuneration and social security454/9 | - | - | €3,135 | €3,135 | €3,135 | = |
| Other amounts payable47/48 | - | €47,094 | €46,229 | €183,009 | €216,843 | ▲ 18.5% |
| Accrued charges and deferred income492/3 | - | €1,984 | €4,317 | €8,500 | €7,360 | ▼ 13.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €73,262 | €89,887 | €17,892 | €19,863 | €25,893 | ▲ 30.4% |
| + Depreciation and write-downs630 | €15,088 | €15,692 | €15,844 | €7,946 | €7,613 | ▼ 4.2% |
| Operating cash flow (approximation) | €88,350 | €105,579 | €33,736 | €27,808 | €33,507 | ▲ 20.5% |
| Investment in fixed assets (approximation) | - | -€3,758 | €0 | €0 | €0 | - |
| Change in cash | - | -€41,052 | -€43,626 | €33,276 | €9,629 | ▼ 71.1% |
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
24-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
12-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
18-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
17-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Highest result since 2019net €89,887 ▲22.7%
Operating result €118,400, net result €89,887, both a record.
30-09
Financial
Equity above €200,000Eq €236,443 ▲61.3%
4 profitable years in a row build equity to €236,443.
31-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Equity above €100,000Eq €146,556 ▲100%
3 profitable years in a row build equity to €146,556.
18-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
23-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Tielt · 1 establishment unit since 2018
Ground area
825 m²
Building footprint
216 m²
Volume, LiDAR
792 m³
Parcel 37303G0002/00Y000, Flanders · tallest building 12.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Vegaco
since 20182.281.315.185
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37303G0002/00Y000 | Flanders | 825 m² | 1 · 216 m² | 12.2 m · 1 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 24,729 companies in sector 64210 we hold annual accounts for 19,799. 13,458 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded22-10-2018
Fiscal year end30-09
Activities, NACEBEL 2025
64210Activities of holding companies
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0711948920
Also
9925:BE0711948920
Registered
02-12-2025
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.