VEHO
ActiveSummary
VEHO has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €108.8m and a net result of €24.8m. Equity is growing by ~2.8% per year across the filed fiscal years. Its solvency ranks better than 91% 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
Profitability60▲+36
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000,000 at 30 days acceptable
Liquidity ample (current ratio 8.67 against 5.52 in 2024; short-term debt: 5.4% and cash: 0.7% of total assets), and 5.4% 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 · 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
94.6%
Return on assets
21.6%
Age of the figures
12 mo
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
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 23-04-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
26 d early
2023
43 d early
2022
7 d early
2021
24 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 15 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 30-09-2026 and is due by 30-04-2027. Nothing is late today.
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, abbreviated schema
Equity
€108.8m▲ 29.5%
2024 · €84.0m
Total assets
€114.9m▲ 26.9%
2024 · €90.6m
Net result
€24.8m▲ 893%
2024 · €2.5m
Working capital
€47.2m▲ 62.7%
2024 · €29.0m
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€318,593▲ 88.8%€112,397▼ 64.7%€133,019▲ 18.3%-€102,850€91,548
Net result€490,888above the sector's middle half▼ 53.2%€4.8mabove the sector's middle half▲ 868%€1.4mabove the sector's middle half▼ 70.2%€2.5mabove the sector's middle half▲ 76.4%€24.8mabove the sector's middle half▲ 893%
Equity€75.3mabove the sector's middle half▲ 0.7%€80.0mabove the sector's middle half▲ 6.3%€81.5mabove the sector's middle half▲ 1.8%€84.0mabove the sector's middle half▲ 3.1%€108.8mabove the sector's middle half▲ 29.5%
Total assets€79.6mabove the sector's middle half▼ 1.2%€86.4mabove the sector's middle half▲ 8.6%€87.3mabove the sector's middle half▲ 1.0%€90.6mabove the sector's middle half▲ 3.8%€114.9mabove the sector's middle half▲ 26.9%
Debt€4.3m▼ 25.5%€6.4m▲ 49.6%€5.8m▼ 8.9%€6.6m▲ 13.7%€6.2m▼ 6.6%
Working capital€30.3m▼ 7.7%€28.3m▼ 6.7%€28.7m▲ 1.5%€29.0m▲ 0.9%€47.2m▲ 62.7%
Solvency94.7%above the sector's middle half▲ 1.7pp92.6%above the sector's middle half▼ 2.0pp93.4%above the sector's middle half▲ 0.7pp92.7%above the sector's middle half▼ 0.6pp94.6%above the sector's middle half▲ 1.9pp
Staff (FTE)0within the sector's middle half0within 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 schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €91,548 after a loss of €102,850 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €114.9m
Fixed assets
€61.6m ▲ 11.7%
Current assets
€53.4m ▲ 50.6%
Equity and liabilities €114.9m
Equity
€108.8m ▲ 29.5%
Debt
€6.2m ▼ 6.6%
Debt's share of the balance-sheet total falls from 7.3% to 5.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€278,236▲
2024 · €94,623
Cash flow
€25.0m▲
2024 · €2.7m
Current ratio
8.67▲
2024 · 5.52
Quick ratio
8.67▲
2024 · 5.52
Debt to equity
0.06▼
2024 · 0.08
ROE
22.8%▲
2024 · 3.0%
ROA
21.6%▲
2024 · 2.8%
Interest coverage
1.65▲
2024 · 0.22
Debt ≤ 1 year
€6.2m▼
2024 · €6.4m
Income taxes
€118,890▼
2024 · €173,837
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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €129,925 | €226,718 | €234,703 | €197,473 | €186,688 | ▼ 5.5% |
| Other operating charges640/8 | €19,273 | €55,394 | €20,243 | €203,889 | €54,720 | ▼ 73.2% |
| Gross operating margin9900 | €467,791 | €394,510 | €387,965 | €298,512 | €332,956 | ▲ 11.5% |
| Operating profit (loss)9901 | €318,593 | €112,397 | €133,019 | -€102,850 | €91,548 | ▲ 189% |
| Financial income75/76B | €762,626 | €5.0m | €1.8m | €3.2m | €25.0m | ▲ 679% |
| Recurring financial income75 | €762,626 | €5.0m | €1.8m | €3.2m | €25.0m | ▲ 679% |
| Financial charges65/66B | €377,775 | €260,687 | €413,550 | €434,426 | €168,247 | ▼ 61.3% |
| Recurring financial charges65 | €377,775 | €260,687 | €413,550 | €434,426 | €168,247 | ▼ 61.3% |
| Profit (loss) for the period before taxes9903 | €703,444 | €4.9m | €1.6m | €2.7m | €24.9m | ▲ 833% |
| Income taxes67/77 | €212,556 | €123,116 | €137,668 | €173,837 | €118,890 | ▼ 31.6% |
| Profit (loss) for the period9904 | €490,888 | €4.8m | €1.4m | €2.5m | €24.8m | ▲ 893% |
| Profit (loss) for the period to be appropriated9905 | €490,888 | €4.8m | €1.4m | €2.5m | €24.8m | ▲ 893% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €79.6m | €86.4m | €87.3m | €90.6m | €114.9m | ▲ 26.9% |
| Fixed assets21/28 | €45.0m | €51.9m | €52.7m | €55.1m | €61.6m | ▲ 11.7% |
| Tangible fixed assets22/27 | €1.4m | €3.1m | €3.2m | €3.0m | €2.8m | ▼ 4.8% |
| Land and buildings22 | €1.2m | €3.0m | €3.1m | €2.9m | €2.8m | ▼ 4.4% |
| Plant, machinery and equipment23 | €7,145 | €5,499 | €6,205 | €8,984 | €15,560 | ▲ 73.2% |
| Furniture and vehicles24 | €121,515 | €96,172 | €77,689 | €57,164 | €35,404 | ▼ 38.1% |
| Financial fixed assets28 | €43.7m | €48.8m | €49.6m | €52.1m | €58.7m | ▲ 12.6% |
| Current assets29/58 | €34.5m | €34.5m | €34.5m | €35.4m | €53.4m | ▲ 50.6% |
| Amounts receivable after more than one year29 | - | €50,000 | €1.2m | €417,593 | €609,398 | ▲ 45.9% |
| Other amounts receivable291 | - | €50,000 | €1.2m | €417,593 | €609,398 | ▲ 45.9% |
| Stocks and contracts in progress3 | €320,100 | €44,095 | €5,000 | €5,000 | €5,000 | = |
| Stocks30/36 | €320,100 | €44,095 | €5,000 | €5,000 | €5,000 | = |
| Amounts receivable within one year40/41 | €15.1m | €17.3m | €18.7m | €23.2m | €25.1m | ▲ 8.2% |
| Trade receivables40 | €466,237 | €660,668 | €461,841 | €255,956 | €242,719 | ▼ 5.2% |
| Other amounts receivable41 | €14.6m | €16.6m | €18.2m | €22.9m | €24.8m | ▲ 8.4% |
| Current investments50/53 | €16.5m | €14.4m | €11.3m | €11.5m | €26.8m | ▲ 133% |
| Cash at bank and in hand54/58 | €2.6m | €2.2m | €3.1m | €280,394 | €843,957 | ▲ 201% |
| Deferred charges and accrued income490/1 | €31,822 | €454,248 | €274,981 | €38,094 | €3,874 | ▼ 89.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €79.6m | €86.4m | €87.3m | €90.6m | €114.9m | ▲ 26.9% |
| Equity10/15 | €75.3m | €80.0m | €81.5m | €84.0m | €108.8m | ▲ 29.5% |
| Contributions10/11 | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Capital10 | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Issued capital100 | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Reserves13 | €1.5m | €1.5m | €1.5m | €1.5m | €1.5m | = |
| Non-distributable reserves130/1 | €119,500 | €119,500 | €119,500 | €119,500 | €119,500 | = |
| Legal reserve130 | €119,500 | €119,500 | €119,500 | €119,500 | €119,500 | = |
| Distributable reserves133 | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | = |
| Profit (loss) carried forward14 | €72.6m | €77.3m | €78.8m | €81.2m | €106.1m | ▲ 30.5% |
| Amounts payable17/49 | €4.3m | €6.4m | €5.8m | €6.6m | €6.2m | ▼ 6.6% |
| Amounts payable within one year42/48 | €4.2m | €6.2m | €5.8m | €6.4m | €6.2m | ▼ 4.2% |
| Trade debts44 | €27,124 | €77,022 | €20,571 | €17,235 | €57,328 | ▲ 233% |
| Suppliers440/4 | €27,124 | €77,022 | €20,571 | €17,235 | €57,328 | ▲ 233% |
| Taxes, remuneration and social security45 | €100,485 | €84,825 | €58,526 | €121,632 | €30,234 | ▼ 75.1% |
| Taxes450/3 | €98,527 | €82,867 | €56,567 | €119,674 | €30,234 | ▼ 74.7% |
| Remuneration and social security454/9 | €1,958 | €1,958 | €1,958 | €1,958 | €0 | ▼ 100% |
| Other amounts payable47/48 | €4.1m | €6.0m | €5.7m | €6.3m | €6.1m | ▼ 3.5% |
| Accrued charges and deferred income492/3 | €46,610 | €195,841 | €6,250 | €171,067 | €5,620 | ▼ 96.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €490,888 | €4.8m | €1.4m | €2.5m | €24.8m | ▲ 893% |
| + Depreciation and write-downs630 | €129,925 | €226,718 | €234,703 | €197,473 | €186,688 | ▼ 5.5% |
| Operating cash flow (approximation) | €620,813 | €5.0m | €1.7m | €2.7m | €25.0m | ▲ 827% |
| Investment in fixed assets (approximation) | - | -€7.1m | -€1.0m | -€2.6m | -€6.6m | ▼ 156% |
| Change in cash | - | -€346,151 | €849,585 | -€2.8m | €563,563 | ▲ 120% |
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
23-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-09
Financial
Highest result since 2018net €24.8m ▲893%
Net result €24.8m, the highest in the series.
30-09
Financial
Equity above €100mEq €108.8m ▲29.5%
8 profitable years in a row build equity to €108.8m.
04-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
18-03
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
23-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
05-07
State Gazette act
General meeting · Capital increase
Share issue · Statutes amendment
06-04
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 €126,274 ▼93.1%
Net result drops to €126,274, the lowest in the series; recovery starts the following year.
29-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Show earlier events
2018
03-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-03
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
17-05
State Gazette act
General meeting · Capital increase
Capital · Share issue · Frank Liesse
06-05
State Gazette act
General meeting · Share issue
Statutes amendment · Director resignation
2014
08-05
State Gazette act
General meeting · Capital increase
Capital · Director appointment
2012
01-03
State Gazette act
Incorporation · Founding capital
Corporate purpose · First fiscal year
Financial milestoneState Gazette actNBB 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, Izegem · 1 establishment unit since 1992
Ground area
2,127 m²
Building footprint
232 m²
Volume, LiDAR
1,512 m³
Parcel 36493B0486/00G003, Flanders · tallest building 10.4 m, ±2 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
VEHO
since 19922.059.090.660
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36493B0486/00G003 | Flanders | 2,127 m² | 1 · 232 m² | 10.4 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
6 holdingsOwners 0
The accounts to 30-09-2025 list no shareholders, and no other source names one.
Holdings 6
-
99.99%
-
96%
-
85.03%
-
41.3%
- Equity €30.1mResult -€1.1m25.63%
-
25%
According to the annual accounts to 30-09-2025 of VEHO 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.
Recognitions · licences · registrations
Legal Entity Identifier
549300F8K1W6ACJVZW62
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,626. 1,065 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
Founded08-09-1992
Fiscal year end30-09
Activities, NACEBEL 2025
70200Business and other management consultancy
46190Agents in non-specialised wholesale trade
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0448186916
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
General meetings
1 convocationExtraordinary general meeting
Agenda
van de buitengewone algemene vergadering : 1/ Wijziging van het maatschappelijk doel : Na kennisname van het vereiste verslag van de raad van bestuur en van een staat van actief en passief die niet meer dan drie maanden voordien werd opgemaakt : uitbreiding van het doel door toevoeging aan artikel drie van de huidige statuten van de hierna volgende tekst : ″e) Het toestaan van leningen en kredietopeningen aan rechtsper- sonen en ondernemingen of particulieren, onder om het even welke vorm; in dit kader kan zij zich ook borg stellen of haar aval verlenen, in de meest ruime zin, alle handels- en financiële operaties verrichten behalve die wettelijk voorbehouden zijn aan depositobanken, houders ...