VEMAC
InactiveVEMAC was declared bankrupt on 03-05-2023 (Ondernemingsrechtbank Gent, afdeling Veurne); the bankruptcy was closed by liquidation by judgment of 03-12-2025, published in the Belgian State Gazette on 10-12-2025.
Summary
Inactive; last annual accounts for fiscal year 2022.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-03-2023, 3 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-03-2023 close31-10-2023 deadline25-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-03-2022 was due by 31-10-2022 and was filed on 22-11-2022, 22 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
not filed
2022
22 d late
2021
2 d late
2020
1 d early
2019
20 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2022, abbreviated schema
Equity
€-84k=
2021 · €-84k
2019: €-75k
2020: €-69k▲ +8.3% vs 2019highest in 4 years
2021: €-84k▼ -21.3% vs 2020
2022: €-84k● -0.0% vs 2021lowest in 4 years
2019 → 2022
Total assets
€375k▼ 20.9%
2021 · €474k
2019: €842khighest in 4 years
2020: €772k▼ -8.3% vs 2019
2021: €474k▼ -38.6% vs 2020
2022: €375k▼ -20.9% vs 2021lowest in 4 years
2019 → 2022
Net result
€-32▲ 99.8%
2021 · €-15k
2019: €-91klowest in 4 years
2020: €6k▲ +107% vs 2019highest in 4 years
2021: €-15k▼ -334% vs 2020
2022: €-32▲ +99.8% vs 2021
2019 → 2022
Working capital
€-41k▲ 44.2%
2021 · €-73k
2019: €140k
2020: €173k▲ +23.4% vs 2019highest in 4 years
2021: €-73k▼ -142% vs 2020lowest in 4 years
2022: €-41k▲ +44.2% vs 2021
2019 → 2022
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2019202020212022Trend
Equity€-75k-€-69k▲ 8.3%€-84k▼ 21.3%€-84k=
2019: €-75k
2020: €-69k▲ +8.3% vs 2019highest in 4 years
2021: €-84k▼ -21.3% vs 2020
2022: €-84k● -0.0% vs 2021lowest in 4 years
Operating result€-65k-€40k€5k▼ 86.8%€12k▲ 137%
2019: €-65klowest in 4 years
2020: €40k▲ +161% vs 2019highest in 4 years
2021: €5k▼ -86.8% vs 2020
2022: €12k▲ +137% vs 2021
Net result€-91k-€6k€-15k€-32▲ 99.8%
2019: €-91klowest in 4 years
2020: €6k▲ +107% vs 2019highest in 4 years
2021: €-15k▼ -334% vs 2020
2022: €-32▲ +99.8% vs 2021
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2022; 2022 is 137% above 2021.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €375k
Fixed assets
€210k ▼ 35.9%
Current assets
€165k ▲ 12.4%
Key figures and ratios
EBITDA
€32k▲
2021 · €28k
Cash flow
€19k▲
2021 · €8k
Solvency
-22.3%▼
2021 · -17.6%
Current ratio
0.80▲
2021 · 0.67
Debt to equity
-5.48▼
2021 · -4.04
ROA
0.0%▲
2021 · -3.1%
Interest coverage
2.57
Debt
€458k▼
2021 · €557k
Debt ≤ 1 year
€206k▼
2021 · €220k
Debt > 1 year
€252k▼
2021 · €337k
Income taxes
€217
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2022 against 2021 · 45 lines
Balance sheet
Code20212022
Assets
Total assets20/58€474k€375k▼
Fixed assets21/28€327k€210k▼
Tangible fixed assets22/27€327k€210k▼
Land and buildings22-€210k
Current assets29/58€147k€165k▲
Amounts receivable after more than one year29-€700
Other amounts receivable291-€700
Amounts receivable within one year40/41€80k€80k▼
Trade receivables40-€1k
Other amounts receivable41-€79k
Current investments50/53€4k-
Cash at bank and in hand54/58€13k€34k▲
Deferred charges and accrued income490/1-€50k
Equity and liabilities
Total equity and liabilities10/49€474k€375k▼
Equity10/15€-84k€-84k=
Contributions10/11-€65k
Reserves13€121k€121k=
Non-distributable reserves130/1-€7k
Reserves not available under the articles1311-€7k
Distributable reserves133-€114k
Profit (loss) carried forward14€-269k€-269k=
Amounts payable17/49€557k€458k▼
Amounts payable after more than one year17€337k€252k▼
Financial debts170/4-€252k
Amounts payable within one year42/48€220k€206k▼
Current portion of amounts payable after more than one year42-€22k
Trade debts44€192k€182k▼
Suppliers440/4-€182k
Taxes, remuneration and social security45-€377
Taxes450/3-€377
Other amounts payable47/48-€2k
Income statement
Code20212022
Non-recurring operating income76A-€17k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€23k€19k▼
Other operating charges640/8-€3k
Gross operating margin9900€193k€35k▼
Operating profit (loss)9901€5k€12k▲
Recurring financial income75€110-
Financial charges65/66B-€12k
Recurring financial charges65€20k€12k▼
Profit (loss) for the period before taxes9903€-15k€185▲
Income taxes67/77-€217
Profit (loss) for the period9904€-15k€-32▲
Profit (loss) for the period to be appropriated9905€-15k€-32▲
Appropriation of the result
Profit (loss) to be appropriated9906-€-269k
Profit (loss) brought forward from the previous period14P-€-269k
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €17k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €50k | €36k | €23k | €19k | ▼ 16.4% |
| Other operating charges640/8 | - | - | - | €3k | - |
| Gross operating margin9900 | €234k | €286k | €193k | €35k | ▼ 82.0% |
| Operating profit (loss)9901 | €-65k | €40k | €5k | €12k | ▲ 137% |
| Recurring financial income75 | €5k | €2k | €110 | - | - |
| Financial charges65/66B | - | - | - | €12k | - |
| Recurring financial charges65 | €30k | €35k | €20k | €12k | ▼ 38.7% |
| Profit (loss) for the period before taxes9903 | €-91k | €7k | €-15k | €185 | ▲ 101% |
| Income taxes67/77 | €305 | €245 | - | €217 | - |
| Profit (loss) for the period9904 | €-91k | €6k | €-15k | €-32 | ▲ 99.8% |
| Profit (loss) for the period to be appropriated9905 | €-91k | €6k | €-15k | €-32 | ▲ 99.8% |
| Line | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €842k | €772k | €474k | €375k | ▼ 20.9% |
| Fixed assets21/28 | €400k | €364k | €327k | €210k | ▼ 35.9% |
| Tangible fixed assets22/27 | €400k | €364k | €327k | €210k | ▼ 35.9% |
| Land and buildings22 | - | - | - | €210k | - |
| Current assets29/58 | €441k | €408k | €147k | €165k | ▲ 12.4% |
| Amounts receivable after more than one year29 | - | - | - | €700 | - |
| Other amounts receivable291 | - | - | - | €700 | - |
| Stocks and contracts in progress3 | €255k | €236k | - | - | - |
| Amounts receivable within one year40/41 | €136k | €111k | €80k | €80k | ▼ 0.7% |
| Trade receivables40 | - | - | - | €1k | - |
| Other amounts receivable41 | - | - | - | €79k | - |
| Current investments50/53 | €463 | €727 | €4k | - | - |
| Cash at bank and in hand54/58 | €40k | €53k | €13k | €34k | ▲ 170% |
| Deferred charges and accrued income490/1 | - | - | - | €50k | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €842k | €772k | €474k | €375k | ▼ 20.9% |
| Equity10/15 | €-75k | €-69k | €-84k | €-84k | = |
| Contributions10/11 | €65k | - | - | €65k | - |
| Reserves13 | €121k | €121k | €121k | €121k | = |
| Non-distributable reserves130/1 | - | - | - | €7k | - |
| Reserves not available under the articles1311 | - | - | - | €7k | - |
| Distributable reserves133 | - | - | - | €114k | - |
| Profit (loss) carried forward14 | €-261k | €-254k | €-269k | €-269k | = |
| Amounts payable17/49 | €917k | €841k | €557k | €458k | ▼ 17.8% |
| Amounts payable after more than one year17 | €613k | €605k | €337k | €252k | ▼ 25.2% |
| Financial debts170/4 | - | - | - | €252k | - |
| Amounts payable within one year42/48 | €301k | €235k | €220k | €206k | ▼ 6.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €22k | - |
| Trade debts44 | €170k | €107k | €192k | €182k | ▼ 5.0% |
| Suppliers440/4 | - | - | - | €182k | - |
| Taxes, remuneration and social security45 | - | - | - | €377 | - |
| Taxes450/3 | - | - | - | €377 | - |
| Other amounts payable47/48 | - | - | - | €2k | - |
| Line | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-91k | €6k | €-15k | €-32 | ▲ 99.8% |
| + Depreciation and write-downs630 | €50k | €36k | €23k | €19k | ▼ 16.4% |
| Operating cash flow (approximation) | €-41k | €43k | €8k | €19k | ▲ 135% |
| Investment in fixed assets (approximation) | - | €0 | €14k | €98k | ▲ 601% |
| Change in cash | - | €13k | €-40k | €22k | ▲ 154% |
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
2025
10-12
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Gent, afdeling Veurne · event 03-12-2025
2023
09-05
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Veurne · event 03-05-2023
2022
22-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 22 days late
2021
02-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 2 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
31-03
Financial
Back to profitnet €6k
Net result €6k after one loss-making year.
2019
20-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 20 days late
2018
07-11
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 7 days late
2017
20-11
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 20 days late
2016
08-11
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 8 days late
2015
26-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2014
05-11
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 5 days late
2013
20-11
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 20 days late
SignalFinancial 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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | ELS LEENKNECHT FABRIEKSTRAAT 4 / BUS 01,
8600 DIKSMUIDE |
03-05-2023 → 03-12-2025 |