VELCORO
ActiveSummary
VELCORO has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €39,549 and a net result of €36,549. Equity is growing by ~37.5% per year across the filed fiscal years. Its solvency ranks better than 54% of 9537 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+7
Solvency83▼-17
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,000 at 30 days acceptable
Liquidity ample (current ratio 2.21 against 88.57 in 2024; short-term debt: 41.7% and cash: 35.6% of total assets), and 41.7% of the assets are financed with debt.
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Signals
Four 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 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% 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 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
58.3%
Return on assets
53.9%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 13-07-2026, 18 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
18 d early
2024
25 d late
2023
28 d late
2022
7 d late
2021
29 d late
2020
29 d late
← 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 17 days after the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
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Financials · fiscal year 2025, micro schema
Equity
€39,549▼ 85.2%
2024 · €267,200
Total assets
€67,799▼ 74.9%
2024 · €270,195
Net result
€36,549▼ 29.5%
2024 · €51,859
Working capital
€34,249▼ 86.9%
2024 · €262,275
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, 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€103,332▲ 231%€71,785▼ 30.5%€94,383▲ 31.5%€69,272▼ 26.6%€53,641▼ 22.6%
Net result€83,161above the sector's middle half▲ 234%€55,681above the sector's middle half▼ 33.0%€73,498above the sector's middle half▲ 32.0%€51,859above the sector's middle half▼ 29.4%€36,549within the sector's middle half▼ 29.5%
Equity€111,072within the sector's middle half▲ 298%€166,753above the sector's middle half▲ 50.1%€240,251above the sector's middle half▲ 44.1%€267,200above the sector's middle half▲ 11.2%€39,549within the sector's middle half▼ 85.2%
Total assets€133,294within the sector's middle half▲ 240%€171,330within the sector's middle half▲ 28.5%€265,119within the sector's middle half▲ 54.7%€270,195within the sector's middle half▲ 1.9%€67,799within the sector's middle half▼ 74.9%
Debt€22,222▲ 97.2%€4,577▼ 79.4%€24,868▲ 443%€2,995▼ 88.0%€28,250▲ 843%
Working capital€108,683▲ 329%€165,624▲ 52.4%€240,230▲ 45.0%€262,275▲ 9.2%€34,249▼ 86.9%
Solvency83.3%above the sector's middle half▲ 12.1pp97.3%above the sector's middle half▲ 14.0pp90.6%above the sector's middle half▼ 6.7pp98.9%above the sector's middle half▲ 8.3pp58.3%within the sector's middle half▼ 40.6pp
above
within
below
the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, 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 has fallen two years in a row; 2025 is 23% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €67,799
Fixed assets
€5,300 ▲ 7.6%
Current assets
€62,499 ▼ 76.4%
Equity and liabilities €67,799
Equity
€39,549 ▼ 85.2%
Debt
€28,250 ▲ 843%
Debt's share of the balance-sheet total rises from 1.1% to 41.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€55,074▼
2024 · €70,030
Cash flow
€37,981▼
2024 · €52,617
Current ratio
2.21▼
2024 · 88.57
Debt to equity
0.71▲
2024 · 0.01
ROE
92.4%▲
2024 · 19.4%
ROA
53.9%▲
2024 · 19.2%
Interest coverage
1605.18▲
2024 · 952.66
Debt ≤ 1 year
€28,250▲
2024 · €2,995
Income taxes
€17,059▼
2024 · €20,268
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,964 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
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 0.5% 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 26,964 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €2,500 | €0 | - | - |
| Remuneration, social security and pensions62 | - | - | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,238 | €1,260 | €1,107 | €758 | €1,433 | ▲ 89.1% |
| Other operating charges640/8 | €542 | €598 | €1,375 | €1,484 | €1,020 | ▼ 31.3% |
| Gross operating margin9900 | €105,112 | €73,643 | €96,866 | €71,514 | €56,094 | ▼ 21.6% |
| Operating profit (loss)9901 | €103,332 | €71,785 | €94,383 | €69,272 | €53,641 | ▼ 22.6% |
| Financial income75/76B | €520 | €1,950 | €4 | €2,928 | €1 | ▼ 100.0% |
| Recurring financial income75 | €520 | €1,950 | €4 | €2,928 | €1 | ▼ 100.0% |
| Financial charges65/66B | €128 | €194 | €86 | €74 | €34 | ▼ 53.3% |
| Recurring financial charges65 | €128 | €194 | €86 | €74 | €34 | ▼ 53.3% |
| Profit (loss) for the period before taxes9903 | €103,724 | €73,542 | €94,301 | €72,127 | €53,608 | ▼ 25.7% |
| Income taxes67/77 | €20,563 | €17,861 | €20,803 | €20,268 | €17,059 | ▼ 15.8% |
| Profit (loss) for the period9904 | €83,161 | €55,681 | €73,498 | €51,859 | €36,549 | ▼ 29.5% |
| Profit (loss) for the period to be appropriated9905 | €83,161 | €55,681 | €73,498 | €51,859 | €36,549 | ▼ 29.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €133,294 | €171,330 | €265,119 | €270,195 | €67,799 | ▼ 74.9% |
| Fixed assets21/28 | €2,389 | €1,129 | €22 | €4,925 | €5,300 | ▲ 7.6% |
| Tangible fixed assets22/27 | €2,389 | €1,129 | €22 | €4,925 | €5,300 | ▲ 7.6% |
| Furniture and vehicles24 | €2,389 | €1,129 | €22 | €4,925 | €5,300 | ▲ 7.6% |
| Current assets29/58 | €130,905 | €170,202 | €265,098 | €265,270 | €62,499 | ▼ 76.4% |
| Amounts receivable within one year40/41 | €20,607 | €32,648 | €67,877 | €58,825 | €27,542 | ▼ 53.2% |
| Trade receivables40 | €11,730 | €5,656 | €28,892 | €18,864 | €27,531 | ▲ 45.9% |
| Other amounts receivable41 | €8,877 | €26,992 | €38,986 | €39,961 | €11 | ▼ 100.0% |
| Cash at bank and in hand54/58 | €109,626 | €137,431 | €196,127 | €205,379 | €24,150 | ▼ 88.2% |
| Deferred charges and accrued income490/1 | €672 | €123 | €1,093 | €1,067 | €10,807 | ▲ 913% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €133,294 | €171,330 | €265,119 | €270,195 | €67,799 | ▼ 74.9% |
| Equity10/15 | €111,072 | €166,753 | €240,251 | €267,200 | €39,549 | ▼ 85.2% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Capital10 | €3,000 | €3,000 | - | - | - | - |
| Issued capital100 | €3,000 | €3,000 | - | - | - | - |
| Reserves13 | €108,072 | €163,753 | €237,251 | €264,200 | €0 | ▼ 100% |
| Distributable reserves133 | €108,072 | €163,753 | €237,251 | €264,200 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | - | - | - | €0 | €36,549 | - |
| Amounts payable17/49 | €22,222 | €4,577 | €24,868 | €2,995 | €28,250 | ▲ 843% |
| Amounts payable within one year42/48 | €22,222 | €4,577 | €24,868 | €2,995 | €28,250 | ▲ 843% |
| Trade debts44 | €7,333 | €2,152 | €0 | €785 | €0 | ▼ 100% |
| Suppliers440/4 | €7,333 | €2,152 | €0 | €785 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €14,889 | €2,425 | €24,868 | €2,210 | €26,750 | ▲ 1,110% |
| Taxes450/3 | €14,889 | €2,425 | €24,868 | €2,210 | €26,750 | ▲ 1,110% |
| Other amounts payable47/48 | - | - | - | - | €1,500 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €83,161 | €55,681 | €73,498 | €51,859 | €36,549 | ▼ 29.5% |
| + Depreciation and write-downs630 | €1,238 | €1,260 | €1,107 | €758 | €1,433 | ▲ 89.1% |
| Operating cash flow (approximation) | €84,399 | €56,941 | €74,605 | €52,617 | €37,981 | ▼ 27.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€5,661 | -€1,808 | ▲ 68.1% |
| Change in cash | - | €27,805 | €58,696 | €9,251 | -€181,229 | ▼ 2,059% |
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
13-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 25 days late
2024
31-12
Financial
Liquidity times 8current ratio 88.57
Current ratio from 10.66 to 88.57; short-term debt falls from €24,868 to €2,995.
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
31-12
Financial
Equity above €200,000Eq €240,251 ▲44.1%
4 profitable years in a row build equity to €240,251.
07-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 7 days late
2022
31-12
Financial
Liquidity times 6current ratio 37.18
Current ratio from 5.89 to 37.18; short-term debt falls from €22,222 to €4,577.
31-12
Financial
Equity above €150,000Eq €166,753 ▲50.1%
3 profitable years in a row build equity to €166,753.
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
31-12
Financial
Highest result since 2020net €83,161 ▲234%
Operating result €103,332, net result €83,161, both a record.
31-12
Financial
Equity above €100,000Eq €111,072 ▲298%
2 profitable years in a row build equity to €111,072.
29-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 29 days late
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, Erpe-Mere · 1 establishment unit since 2020
Ground area
1,043 m²
Building footprint
275 m²
Volume, LiDAR
1,521 m³
Parcel 41040B0237/00P002, Flanders · tallest building 11.4 m, ±1 floor. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
VELCORO
since 20202.306.290.806
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41040B0237/00P002 | Flanders | 1,043 m² | 1 · 275 m² | 11.4 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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MAXXARCHITECTEN
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Of 18,250 companies in sector 71111 we hold annual accounts for 6,320. 5,165 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
Founded12-08-2020
Fiscal year end31-12
Activities, NACEBEL 2025
71111Activities of building architects
74999Other professional, scientific and technical activities
80090Investigation and security activities
82990Other business support services
Contact
Website
www.velcoro.be
E-mail
info@velcoro.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0752514023
Registered
29-04-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.