VEKMO
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 14-07-2026 at the NBB all 25 filings
Turnover
≈ €1.6m
Estimated: probably between €1.2m and €2.4m
EBIT margin
Not included in this filing
Net result
€150,068▲ 13.7%
2024 · €131,942
Working capital
€166,364▲ 51.9%
2024 · €109,513
In the rankings
#9 company by equity in Tessenderlo-Ham, Administrative and support services sector#10 company by total assets in Tessenderlo-Ham, Administrative and support services sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€242,349
▲ 13.2%
2025
20182025
Net result
€150,068
▲ 13.7%
2025
middle half of the sector
20182025
Equity
€565,004
=
2025
middle half of the sector
20182025
Total assets
€1.3m
▲ 8.9%
2025
middle half of the sector
20182025
Debt
€712,206
▲ 17.2%
2025
20182025
Working capital
€166,364
▲ 51.9%
2025
middle half of the sector
20182025
Solvency
44.2%
▼ 3.9pp
2025
middle half of the sector
20182025
Current ratio
1.25
▲ 0.03
2025
middle half of the sector
20182025
Return on assets (ROA)
11.7%
▲ 0.5pp
2025
highest quarter of the sector
20182025
Staff (FTE)
9.5
▼ 5.0%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€0.1m--€0.05m▲ 58.6%€0.06m€0.2m▲ 215%-€0.03m€0.2m€0.2m▼ 9.1%€0.2m▲ 13.2%
Net result-€0.1m--€0.07m▲ 48.5%€0.06mwithin the sector's middle half€0.1mabove the sector's middle half▲ 154%-€0.09mbelow the sector's middle half€0.1mabove the sector's middle half€0.1mwithin the sector's middle half▼ 6.3%€0.2mwithin the sector's middle half▲ 13.7%
Equity€0.3m-€0.2m▼ 27.2%€0.2mwithin the sector's middle half▲ 30.3%€0.4mwithin the sector's middle half▲ 58.9%€0.3mwithin the sector's middle half▼ 23.5%€0.4mwithin the sector's middle half▲ 48.2%€0.6mwithin the sector's middle half▲ 30.5%€0.6mwithin the sector's middle half=
Total assets€0.8m-€1.0m▲ 24.8%€1.3mwithin the sector's middle half▲ 28.4%€1.3mwithin the sector's middle half▲ 2.0%€1.2mwithin the sector's middle half▼ 5.6%€1.4mwithin the sector's middle half▲ 14.7%€1.2mwithin the sector's middle half▼ 17.0%€1.3mwithin the sector's middle half▲ 8.9%
Debt€0.5m-€0.8m▲ 48.9%€1.0m▲ 28.0%€0.9m▼ 11.1%€0.9m▲ 1.8%€1.0m▲ 4.2%€0.6m▼ 38.0%€0.7m▲ 17.2%
Working capital€0.2m-€0.1m▼ 27.4%€0.03mwithin the sector's middle half▼ 80.2%€0.1mwithin the sector's middle half▲ 362%€0.1mwithin the sector's middle half▼ 8.9%€0.1mwithin the sector's middle half▼ 8.8%€0.1mwithin the sector's middle half▼ 3.3%€0.2mwithin the sector's middle half▲ 51.9%
Solvency31.7%-18.5%▼ 13.2pp18.8%within the sector's middle half▲ 0.3pp29.2%within the sector's middle half▲ 10.5pp23.7%within the sector's middle half▼ 5.5pp30.6%within the sector's middle half▲ 6.9pp48.2%within the sector's middle half▲ 17.5pp44.2%within the sector's middle half▼ 3.9pp
Current ratio1.38-1.18▼ 0.191.06within the sector's middle half▼ 0.121.28within the sector's middle half▲ 0.221.26within the sector's middle half▼ 0.021.17within the sector's middle half▼ 0.091.22within the sector's middle half▲ 0.051.25within the sector's middle half▲ 0.03
Return on assets (ROA)-16.7%--6.9%▲ 9.8pp4.4%within the sector's middle half▲ 11.3pp10.8%within the sector's middle half▲ 6.5pp-7.3%below the sector's middle half▼ 18.1pp10.0%within the sector's middle half▲ 17.2pp11.2%within the sector's middle half▲ 1.3pp11.7%above the sector's middle half▲ 0.5pp
Staff (FTE)6.6-7.8▲ 18.2%4.2within the sector's middle half▼ 46.2%8.2within the sector's middle half▲ 95.2%8.6within the sector's middle half▲ 4.9%9.9above the sector's middle half▲ 15.1%10above the sector's middle half▲ 1.0%9.5within the sector's middle half▼ 5.0%
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 13% higher than in 2024 and the highest since 2021. It is a recovery after the fall in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.3m
Fixed assets
€450,475 ▼ 21.4%
Current assets
€826,735 ▲ 37.8%
Equity and liabilities €1.3m
Equity
€565,004 =
Debt
€712,206 ▲ 17.2%
Debt's share of the balance-sheet total rises from 51.8% to 55.8%. Debt is higher.
Key figures and ratios
EBITDA
€334,126▲
2024 · €301,430
Cash flow
€241,845▲
2024 · €219,226
Debt to equity
1.26▲
2024 · 1.08
ROE
26.6%▲
2024 · 23.4%
Interest coverage
13.79▲
2024 · 9.14
Debt ≤ 1 year
€660,371▲
2024 · €490,369
Debt > 1 year
€51,234▼
2024 · €113,297
Income taxes
€69,666▲
2024 · €62,225
Staff costs
€672,029▼
2024 · €691,098
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 9 | 11 | 13 | 11 | 11 |
| full-time | 6 | 8 | 9 | 6 | 6 |
| part-time | 3 | 3 | 4 | 5 | 5 |
| in full-time equivalents | 7.8 | 9.8 | 11.1 | 9.1 | 9.1 |
| Average over the year, in full-time equivalents | 8.2 | 8.6 | 9.9 | 10 | 9.5 |
| On a permanent contract | 8 | 11 | 13 | 11 | 11 |
| Joined | 9 | 4 | - | 2 | 2 |
| Left | 7 | 2 | - | 4 | 4 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €295,117 | €509,166 | €382,285 | €253,494 | €104,854 |
| Pledge on the business | - | - | - | - | €240,000 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €7,500 | €34,575 | €73,145 | €5,219 | - |
| Intangible fixed assets | - | - | €10,395 | €23,438 | €24,255 |
| Financial fixed assets | - | - | - | - | €4,085 |
| Depreciation and write-downs of the year | €76,357 | €79,058 | €81,483 | €87,283 | €91,778 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 4 entries · €10,920 awarded · €10,607 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €1,779 | €3,046 |
| 2024 | 1 | €4,496 | €3,215 |
| 2023 | 1 | €2,412 | €2,412 |
| 2022 | 1 | €2,233 | €1,934 |
Public contracts
5 awards · 2024 to 2025
Asbestdeskundige scholen (2 Percelen Oost - 3 Percelen West): 16169 - BN2505002 - 1
AWV/INV/2024/2 Het ter beschikking stellen van een veiligheidscoördinator-ontwerp en/of veiligheidscoördinator-verwezenlijking en het verlenen van assistentie aan de aanbesteder hieromtrent: AWV/INV/2024/2 - 1 Perceel 1+2
Raamovereenkomst asbestinventarisatie voor woonmaatschappijen: INITIA-2024-01 Asbestinventarisatie - Perceel 3: regio Waasland en regio Gent
Aanstelling van een EPB-verslaggever en veiligheids- en gezondheidscoördinator voor het nieuwbouwproject AZ Turnhout, Gasthuis in het groen: Aanstellen van een Veiligheids- en gezondheidscoördinator
RAAMOVEREENKOMST VEILIGHEIDSCOORDINATIE: PRO/CB/2023/00251 - 2
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €0.6m | €0.6m | €0.7m | €0.7m | €0.7m | ▼ 2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.01m | €0.007m | €0.008m | €0.08m | €0.08m | €0.08m | €0.09m | €0.09m | ▲ 5.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | -€0.02m | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.002m | €0.003m | €0.002m | €0.004m | €0.002m | ▼ 52.2% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €0.001m | €0.04m | ▲ 31× |
| Gross operating margin9900 | €0.5m | €0.5m | €0.4m | €0.9m | €0.6m | €1.0m | €1.0m | €1.0m | ▲ 5.0% |
| Operating profit (loss)9901 | -€0.1m | -€0.05m | €0.06m | €0.2m | -€0.03m | €0.2m | €0.2m | €0.2m | ▲ 13.2% |
| Financial income75/76B | - | - | - | €0.006m | €0.002m | €0.005m | €0.01m | €0.002m | ▼ 87.6% |
| Recurring financial income75 | €0.001m | €13 | €281 | €0 | €114 | €0.001m | €0.01m | €0.002m | ▼ 86.7% |
| Non-recurring financial income76B | - | - | - | €0.006m | €0.002m | €0.005m | €0.001m | - | - |
| Financial charges65/66B | - | - | - | €0.03m | €0.03m | €0.04m | €0.03m | €0.02m | ▼ 26.5% |
| Recurring financial charges65 | €0.01m | €0.02m | €0.008m | €0.02m | €0.03m | €0.04m | €0.03m | €0.02m | ▼ 26.5% |
| Non-recurring financial charges66B | - | - | - | €0.004m | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€0.1m | -€0.07m | €0.06m | €0.2m | -€0.05m | €0.2m | €0.2m | €0.2m | ▲ 13.2% |
| Income taxes67/77 | €0.001m | €321 | -€123 | €0.04m | €0.04m | €0.06m | €0.06m | €0.07m | ▲ 12.0% |
| Profit (loss) for the period9904 | -€0.1m | -€0.07m | €0.06m | €0.1m | -€0.09m | €0.1m | €0.1m | €0.2m | ▲ 13.7% |
| Profit (loss) for the period to be appropriated9905 | -€0.1m | -€0.07m | €0.06m | €0.1m | -€0.09m | €0.1m | €0.1m | €0.2m | ▲ 13.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.8m | €1.0m | €1.3m | €1.3m | €1.2m | €1.4m | €1.2m | €1.3m | ▲ 8.9% |
| Fixed assets21/28 | €0.05m | €0.04m | €0.8m | €0.7m | €0.6m | €0.6m | €0.6m | €0.5m | ▼ 21.4% |
| Intangible fixed assets21 | €0.007m | €0.006m | €0.7m | €0.6m | €0.6m | €0.5m | €0.5m | €0.4m | ▼ 12.6% |
| Tangible fixed assets22/27 | €0.02m | €0.008m | €0.01m | €0.01m | €0.04m | €0.1m | €0.1m | €0.03m | ▼ 71.1% |
| Plant, machinery and equipment23 | - | - | - | - | - | €0.007m | €0.005m | €0.004m | ▼ 28.6% |
| Furniture and vehicles24 | - | - | - | €0.01m | €0.01m | €0.07m | €0.07m | €0.009m | ▼ 87.5% |
| Other tangible fixed assets26 | - | - | - | - | €0.03m | €0.02m | €0.02m | €0.02m | ▼ 21.3% |
| Financial fixed assets28 | €0.02m | €0.02m | €0.02m | €0.02m | €0.01m | €0.01m | €0.01m | €0.02m | ▲ 51.7% |
| Current assets29/58 | €0.8m | €1.0m | €0.5m | €0.6m | €0.6m | €0.8m | €0.6m | €0.8m | ▲ 37.8% |
| Amounts receivable within one year40/41 | €0.7m | €0.9m | €0.5m | €0.4m | €0.5m | €0.6m | €0.4m | €0.3m | ▼ 16.6% |
| Trade receivables40 | - | - | - | €0.4m | €0.4m | €0.5m | €0.4m | €0.3m | ▼ 14.8% |
| Other amounts receivable41 | - | - | - | €91 | €0.03m | €0.05m | €0.009m | €74 | ▼ 99.1% |
| Cash at bank and in hand54/58 | €0.07m | €0.01m | €0.01m | €0.2m | €0.1m | €0.2m | €0.2m | €0.5m | ▲ 179% |
| Deferred charges and accrued income490/1 | - | - | - | €0.03m | €0.005m | €0.005m | €0.02m | €0.02m | ▼ 5.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.8m | €1.0m | €1.3m | €1.3m | €1.2m | €1.4m | €1.2m | €1.3m | ▲ 8.9% |
| Equity10/15 | €0.3m | €0.2m | €0.2m | €0.4m | €0.3m | €0.4m | €0.6m | €0.6m | = |
| Contributions10/11 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Capital10 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Issued capital100 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Reserves13 | €0.03m | €0.03m | €0.03m | €0.06m | €0.03m | €0.1m | €0.2m | €0.2m | = |
| Non-distributable reserves130/1 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Legal reserve130 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Distributable reserves133 | - | - | - | €0.02m | - | €0.07m | €0.2m | €0.2m | = |
| Profit (loss) carried forward14 | -€0.1m | -€0.2m | -€0.1m | - | -€0.07m | - | - | €0 | - |
| Amounts payable17/49 | €0.5m | €0.8m | €1.0m | €0.9m | €0.9m | €1.0m | €0.6m | €0.7m | ▲ 17.2% |
| Amounts payable after more than one year17 | - | - | €0.5m | €0.4m | €0.5m | €0.3m | €0.1m | €0.05m | ▼ 54.8% |
| Financial debts170/4 | - | - | - | €0.4m | €0.4m | €0.2m | €0.1m | €0.05m | ▼ 54.8% |
| Other amounts payable178/9 | - | - | - | - | €0.08m | €0.06m | - | - | - |
| Amounts payable within one year42/48 | €0.5m | €0.8m | €0.5m | €0.5m | €0.5m | €0.7m | €0.5m | €0.7m | ▲ 34.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.07m | ▼ 52.8% |
| Financial debts43 | - | - | - | €0.2m | €0.1m | €0.1m | €0.1m | €0.07m | ▼ 26.6% |
| Credit institutions430/8 | - | - | - | €0.2m | €0.1m | €0.1m | €0.1m | €0.07m | ▼ 26.6% |
| Trade debts44 | €0.3m | €0.5m | €0.1m | €0.09m | €0.09m | €0.2m | €0.1m | €0.1m | ▲ 20.4% |
| Suppliers440/4 | - | - | - | €0.09m | €0.09m | €0.2m | €0.1m | €0.1m | ▲ 20.4% |
| Advances received on contracts in progress46 | - | - | - | - | €0.009m | €0.009m | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.1m | €0.2m | €0.1m | €0.2m | ▲ 68.9% |
| Taxes450/3 | - | - | - | €0.04m | €0.03m | €0.1m | €0.08m | €0.2m | ▲ 91.6% |
| Remuneration and social security454/9 | - | - | - | €0.07m | €0.08m | €0.1m | €0.06m | €0.09m | ▲ 41.0% |
| Other amounts payable47/48 | - | - | - | €0.03m | €0.03m | €0.01m | €267 | €0.2m | ▲ 563× |
| Accrued charges and deferred income492/3 | - | - | - | €0.004m | €0.004m | €0.004m | €0.004m | €0.001m | ▼ 85.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€133,646 | -€68,787 | €55,822 | €141,509 | -€89,637 | €140,774 | €131,942 | €150,068 | ▲ 13.7% |
| + Depreciation and write-downs630 | €10,293 | €6,897 | €7,921 | €76,357 | €79,058 | €81,483 | €87,283 | €91,778 | ▲ 5.1% |
| Operating cash flow (approximation) | -€123,353 | -€61,890 | €63,743 | €217,866 | -€10,579 | €222,257 | €219,226 | €241,845 | ▲ 10.3% |
| Investment in fixed assets (approximation) | - | €6,376 | -€722,507 | -€3,219 | -€33,069 | -€83,347 | -€27,392 | €30,691 | - |
| Change in cash | - | -€54,156 | €37 | €179,018 | -€56,718 | €81,040 | -€51,536 | €296,818 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 31,368 companies had the same profile as VEKMO has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of VEKMO itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 31,368 companies, not a prediction for VEKMO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 14-07-2026 | 2026-00288270 | |
| 31-12-2024 | abbreviated format | 25-06-2025 | 2025-00173122 | |
| 31-12-2023 | abbreviated format | 10-06-2024 | 2024-00117466 | |
| 31-12-2022 | abbreviated format | 10-07-2023 | 2023-00218631 | |
| 31-12-2021 | abbreviated format | 26-07-2022 | 2022-20220645 | |
| 31-12-2020 | abbreviated format | 30-07-2021 | 2021-42500195 | |
| 31-12-2019 | abbreviated format | 08-09-2020 | 2020-52600592 | |
| 31-12-2018 | abbreviated format | 12-07-2019 | 2019-32400438 | |
| 31-12-2017 | abbreviated format | 21-06-2018 | 2018-21300086 | |
| 31-12-2016 | abbreviated format | 23-06-2017 | 2017-20900371 |