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VEHECO

Active
Private limited companyfounded 20197 yrs activeProvincieweg 7, 8920 Langemark-Poelkapelle, BelgiumKBO/BCE: BE 0723.519.040
Summary

The annual accounts of VEHECO for fiscal year 2025 show a net loss of 64% of the equity at the start of that year. The 2025 annual accounts show equity of €2,984 and a net result of -€5,299. Equity is shrinking by ~37.4% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 10% of 8765 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.4% (very low).

Checked score

Score 2025
Axes · tick = 2024
Profitability30▼-13
Solvency26▼-1
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit 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 short (current ratio 0.24 against 0.19 in 2024; short-term debt: 50.9% and cash: 0.6% of total assets), and 99.4% 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+raises 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 →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 7 years 0 10 y
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 2025
Solvency, return and age of the figures
Solvency
0.6%
Return on assets
-1%
Age of the figures
15 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 8765 sector peers (2025).
NBB · sector comparison
Position among 8765 sector peers
Solvency
better than 10%
← weakest strongest →
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 30-01-2026, 1 day ahead of the deadline.
NBB · 6 filings
Deviation from the deadline
2025
1 d early
2024
24 d early
2023
1 d early
2022
6 d early
2021
on the day
2020
3 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 6 accounts on average 6 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. Usually files around 30 January (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
30-06-2026 close30-09-2026 today31-01-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

VEHECO was incorporated on 25 March 2019.1 Total assets rose from EUR 117,227 in 2020 to EUR 519,047 in 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2020 and 2025

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Financials · fiscal year 2025, abbreviated schema

Equity
€2,984▼ 64.0%
2024 · €8,283
Total assets
€519,047▲ 1.7%
2024 · €510,416
Net result
-€5,299
2024 · €9,134
Working capital
-€200,006▼ 5.0%
2024 · -€190,445
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, 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€1,962▼ 70.8%-€3,414-€14,285▼ 318%€20,668€5,915▼ 71.4%
Net result€423below the sector's middle half▼ 91.1%-€4,483below the sector's middle half-€20,122below the sector's middle half▼ 349%€9,134within the sector's middle half-€5,299below the sector's middle half
Equity€23,754below the sector's middle half▲ 1.8%€19,271below the sector's middle half▼ 18.9%-€851below the sector's middle half€8,283below the sector's middle half€2,984below the sector's middle half▼ 64.0%
Total assets€129,141within the sector's middle half▲ 10.2%€129,702within the sector's middle half▲ 0.4%€504,672above the sector's middle half▲ 289%€510,416within the sector's middle half▲ 1.1%€519,047within the sector's middle half▲ 1.7%
Debt€105,387▲ 12.2%€110,431▲ 4.8%€505,522▲ 358%€502,133▼ 0.7%€516,064▲ 2.8%
Working capital-€57,170below the sector's middle half▲ 0.8%-€61,705below the sector's middle half▼ 7.9%-€195,523below the sector's middle half▼ 217%-€190,445below the sector's middle half▲ 2.6%-€200,006below the sector's middle half▼ 5.0%
Solvency18.4%below the sector's middle half▼ 1.5pp14.9%below the sector's middle half▼ 3.5pp-0.2%below the sector's middle half▼ 15.0pp1.6%below the sector's middle half▲ 1.8pp0.6%below the sector's middle half▼ 1.0pp
Current ratio0.46below the sector's middle half▲ 0.070.44below the sector's middle half▼ 0.020.13below the sector's middle half▼ 0.320.19below the sector's middle half▲ 0.060.24below the sector's middle half▲ 0.05
Return on assets (ROA)0.3%below the sector's middle half▼ 3.7pp-3.5%below the sector's middle half▼ 3.8pp-4.0%below the sector's middle half▼ 0.5pp1.8%within the sector's middle half▲ 5.8pp-1.0%below the sector's middle half▼ 2.8pp
Staff (FTE)0within the sector's middle half
above within below the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
-€40,000-€20,000€0€20,000Operating result 2021: €1,962€1,962Net result 2021: €423€423Operating result 2022: -€3,414-€3,414Net result 2022: -€4,483-€4,483Operating result 2023: -€14,285-€14,285Net result 2023: -€20,122-€20,122Operating result 2024: €20,668€20,668Net result 2024: €9,134€9,134Operating result 2025: €5,915€5,915Net result 2025: -€5,299-€5,29920212022202320242025-€40,000-€20,000€0€20,000Operating result 2023: -€14,285-€14,300Net result 2023: -€20,122-€20,100Operating result 2024: €20,668€20,700Net result 2024: €9,134€9,130Operating result 2025: €5,915€5,920Net result 2025: -€5,299-€5,300202320242025
The operating result falls in 2025; 2025 is 71% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €519,047
Fixed assets €454,818 ▼ 2.3%
Current assets €64,229 ▲ 43.6%
Equity and liabilities €519,047
Equity €2,984 ▼ 64.0%
Debt €516,064 ▲ 2.8%
Debt's share of the balance-sheet total rises from 98.4% to 99.4%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€16,779▼
2024 · €31,532
Cash flow
€5,565▼
2024 · €19,997
ROE
-177.6%▼
2024 · 110.3%
Interest coverage
1.48▼
2024 · 2.68
Debt ≤ 1 year
€264,236▲
2024 · €235,179
Debt > 1 year
€250,424▼
2024 · €265,678
A ratio outside any meaningful range has been withheld (balance sheet total €519,047, equity €2,984).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 819 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 95% are still going.

  • Small
  • 5 to 10 years old
  • solvency under 10%
  • a small loss
1.8% went bankrupt
3.3% stopped otherwise
95% 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 0.4% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 1.0%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

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 819 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 44 lines
Balance sheet Code20242025
Assets
Total assets20/58€510,416€519,047▲
Fixed assets21/28€465,682€454,818▼
Tangible fixed assets22/27€384,706€373,842▼
Land and buildings22€366,726€357,937▼
Plant, machinery and equipment23€1,331€1,177▼
Furniture and vehicles24€16,648€14,729▼
Financial fixed assets28€80,976€80,976=
Current assets29/58€44,734€64,229▲
Amounts receivable within one year40/41€42,528€60,603▲
Trade receivables40€23,889€14,520▼
Other amounts receivable41€18,639€46,083▲
Cash at bank and in hand54/58€1,645€3,235▲
Deferred charges and accrued income490/1€561€391▼
Equity and liabilities
Total equity and liabilities10/49€510,416€519,047▲
Equity10/15€8,283€2,984▼
Contributions10/11€18,600€18,600=
Reserves13€5,154€5,154=
Distributable reserves133€5,154€5,154=
Profit (loss) carried forward14-€15,471-€20,770▼
Amounts payable17/49€502,133€516,064▲
Amounts payable after more than one year17€265,678€250,424▼
Financial debts170/4€265,678€250,424▼
Amounts payable within one year42/48€235,179€264,236▲
Current portion of amounts payable after more than one year42€15,254€15,254=
Trade debts44€956€2,140▲
Suppliers440/4€956€2,140▲
Taxes, remuneration and social security45€12,370€6,868▼
Taxes450/3€12,370€6,868▼
Other amounts payable47/48€206,599€239,974▲
Accrued charges and deferred income492/3€1,276€1,404▲
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€10,864€10,864=
Other operating charges640/8€115€4,238▲
Gross operating margin9900€31,647€21,018▼
Operating profit (loss)9901€20,668€5,915▼
Financial income75/76B€213€122▼
Recurring financial income75€213€122▼
Financial charges65/66B€11,747€11,337▼
Recurring financial charges65€11,747€11,337▼
Profit (loss) for the period before taxes9903€9,134-€5,299▼
Profit (loss) for the period9904€9,134-€5,299▼
Profit (loss) for the period to be appropriated9905€9,134-€5,299▼
Appropriation of the result
Profit (loss) to be appropriated9906-€15,471-€20,770▼
Profit (loss) brought forward from the previous period14P-€24,605-€15,471▲
Social balance
Average headcount (FTE)90870.0-

The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630--€4,178€10,864€10,864=
Other operating charges640/8-€111€1,079€115€4,238▲ 3,586%
Gross operating margin9900€2,071-€3,303-€9,029€31,647€21,018▼ 33.6%
Operating profit (loss)9901€1,962-€3,414-€14,285€20,668€5,915▼ 71.4%
Financial income75/76B--€29€213€122▼ 42.5%
Recurring financial income75--€29€213€122▼ 42.5%
Financial charges65/66B-€1,069€5,866€11,747€11,337▼ 3.5%
Recurring financial charges65€1,054€1,069€5,866€11,747€11,337▼ 3.5%
Profit (loss) for the period before taxes9903€908-€4,483-€20,122€9,134-€5,299▼ 158%
Income taxes67/77€485€0----
Profit (loss) for the period9904€423-€4,483-€20,122€9,134-€5,299▼ 158%
Profit (loss) for the period to be appropriated9905€423-€4,483-€20,122€9,134-€5,299▼ 158%
Line20212022202320242025Change
Assets
Total assets20/58€129,141€129,702€504,672€510,416€519,047▲ 1.7%
Fixed assets21/28€80,976€80,976€476,545€465,682€454,818▼ 2.3%
Tangible fixed assets22/27--€395,569€384,706€373,842▼ 2.8%
Land and buildings22--€375,516€366,726€357,937▼ 2.4%
Plant, machinery and equipment23--€1,486€1,331€1,177▼ 11.6%
Furniture and vehicles24--€18,567€16,648€14,729▼ 11.5%
Financial fixed assets28€80,976€80,976€80,976€80,976€80,976=
Current assets29/58€48,165€48,726€28,126€44,734€64,229▲ 43.6%
Amounts receivable within one year40/41€36,397€41,156€26,036€42,528€60,603▲ 42.5%
Trade receivables40-€41,140€2,520€23,889€14,520▼ 39.2%
Other amounts receivable41-€16€23,516€18,639€46,083▲ 147%
Cash at bank and in hand54/58€11,768€7,571€2,061€1,645€3,235▲ 96.7%
Deferred charges and accrued income490/1--€29€561€391▼ 30.2%
Equity and liabilities
Total equity and liabilities10/49€129,141€129,702€504,672€510,416€519,047▲ 1.7%
Equity10/15€23,754€19,271-€851€8,283€2,984▼ 64.0%
Contributions10/11-€18,600€18,600€18,600€18,600=
Reserves13€5,154€5,154€5,154€5,154€5,154=
Non-distributable reserves130/1-€1,860€0---
Reserves not available under the articles1311-€1,860€0---
Distributable reserves133-€3,294€5,154€5,154€5,154=
Profit (loss) carried forward14--€4,483-€24,605-€15,471-€20,770▼ 34.3%
Amounts payable17/49€105,387€110,431€505,522€502,133€516,064▲ 2.8%
Amounts payable after more than one year17--€280,932€265,678€250,424▼ 5.7%
Financial debts170/4--€280,932€265,678€250,424▼ 5.7%
Amounts payable within one year42/48€105,335€110,431€223,649€235,179€264,236▲ 12.4%
Current portion of amounts payable after more than one year42--€15,254€15,254€15,254=
Trade debts44-€457€1,008€956€2,140▲ 124%
Suppliers440/4-€457€1,008€956€2,140▲ 124%
Taxes, remuneration and social security45-€2,626€2,187€12,370€6,868▼ 44.5%
Taxes450/3-€2,626€2,187€12,370€6,868▼ 44.5%
Other amounts payable47/48-€107,348€205,199€206,599€239,974▲ 16.2%
Accrued charges and deferred income492/3-€0€941€1,276€1,404▲ 10.1%
Line20212022202320242025Change
Profit (loss) for the period9904€423-€4,483-€20,122€9,134-€5,299▼ 158%
+ Depreciation and write-downs630--€4,178€10,864€10,864=
Operating cash flow (approximation)€423-€4,483-€15,944€19,997€5,565▼ 72.2%
Investment in fixed assets (approximation)-€0-€399,748€0€0-
Change in cash--€4,197-€5,510-€416€1,590▲ 482%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-01-2027
2026
30-01
NBB filing Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
07-01
NBB filing Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-06
Financial Back to profitnet €9,134
Net result €9,134 after 2 loss-making years.
30-01
NBB filing Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial Weakest financial yearnet -€20,122
Net result drops to -€20,122, the lowest in the series; recovery starts the following year.
25-01
NBB filing Annual accounts filed
fiscal year 2022 · micro schema
2022
31-01
NBB filing Annual accounts filed
fiscal year 2021 · micro schema
2021
28-01
NBB filing Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts

We know of 2 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
2 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, Langemark-Poelkapelle · 1 establishment unit since 2019
seat establishment The establishment unit on the map
Ground area
3,098 m²
Building footprint
361 m²
Volume, LiDAR
1,644 m³
Parcel 33002A0046/00Z000, Flanders · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
4 companies at this address See who is registered here
1 establishment unit
Provincieweg 7, 8920 Langemark-Poelkapelle
Holiday cottages, homes and apartments
since 20192.288.024.716
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
33002A0046/00Z000 Flanders 3,098 m² 1 · 361 m² 8.0 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.

Structure & network

Owners and holdings

2 holdings · 3 subsidiaries in the tree

Owners 0

The accounts to 30-06-2025 list no shareholders, and no other source names one.

Holdings 2

All subsidiaries, including indirect ones 3

Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.

According to the annual accounts to 30-06-2025 of VEHECO and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

No current directors or connected companies found in the register.

Similar companies · same sector, comparable size

Of 5,711 companies in sector 70100 we hold annual accounts for 3,519. 570 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
Founded25-03-2019
Fiscal year end30-06
Activities, NACEBEL 2025
70100Activities of head offices
55203Holiday cottages, homes and apartments
E-invoicing
Reachable via Peppol
Peppol ID 0208:0723519040
Also 9925:BE0723519040
Registered 04-02-2026

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 29 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.