VEMAT
ActiveSummary
VEMAT has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €201,412 and a net result of €27,791. Equity is growing by ~7.1% per year across the filed fiscal years. Its solvency ranks better than 32% of 144 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2026
Axes · tick = 2025
Profitability47▲+2
Solvency52▼-7
Growth85=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity ample (current ratio 1.58 against 1.92 in 2025; short-term debt: 63.1% and cash: 13.7% of total assets), but 72.6% 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 · 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2026Solvency, return and age of the figures
Solvency
27.4%
Return on assets
3.8%
Age of the figures
8 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-01-2026 was due by 31-08-2026 and was filed on 10-07-2026, 52 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
52 d early
2025
69 d early
2024
68 d early
2023
48 d early
2022
49 d early
2021
42 d early
2020
24 d late
← 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 43 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-01-2027 and is due by 31-08-2027. Nothing is late today. Usually files around 10 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-01-2027 close31-08-2027 deadline
History
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Financials · fiscal year 2026, full schema
Turnover
€5.1m▲ 27.9%
2025 · €4.0m
EBIT margin
0.5%▲ 0.1pp
2025 · 0.4%
Net result
€27,791▲ 85.4%
2025 · €14,990
Working capital
€270,644▲ 10.6%
2025 · €244,697
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20222023202420252026
Turnover€4.9m▲ 21.2%€3.7m▼ 25.5%€3.7m▲ 0.9%€4.0m▲ 7.7%€5.1m▲ 27.9%
Operating result€28,629▼ 63.9%-€23,710-€29,517▼ 24.5%€17,917€26,510▲ 48.0%
Net result€19,425▼ 67.0%-€24,853-€30,563▼ 23.0%€14,990€27,791▲ 85.4%
EBIT margin0.6%▼ 1.4pp-0.6%▼ 1.2pp-0.8%▼ 0.2pp0.4%▲ 1.2pp0.5%▲ 0.1pp
Equity€214,047▲ 10.0%€189,194▼ 11.6%€158,631▼ 16.2%€173,621▲ 9.4%€201,412▲ 16.0%
Total assets€531,189▼ 6.2%€429,284▼ 19.2%€587,650▲ 36.9%€511,890▼ 12.9%€734,400▲ 43.5%
Debt€317,142▼ 14.6%€240,091▼ 24.3%€429,020▲ 78.7%€338,269▼ 21.2%€532,988▲ 57.6%
Working capital€171,103▲ 145%€212,315▲ 24.1%€239,735▲ 12.9%€244,697▲ 2.1%€270,644▲ 10.6%
Result per fiscal year
Operating resultNet result
After the dip in 2024 the operating result has climbed two years in a row; 2026 is 48% above 2025.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €734,400
Fixed assets
€482 =
Current assets
€733,918 ▲ 43.5%
Equity and liabilities €734,400
Equity
€201,412 ▲ 16.0%
Debt
€532,988 ▲ 57.6%
Debt's share of the balance-sheet total rises from 66.1% to 72.6%. Equity and debt are higher.
Key figures and ratios
Current ratio
1.58▼
2025 · 1.92
Debt to equity
2.65▲
2025 · 1.95
ROE
13.8%▲
2025 · 8.6%
ROA
3.8%▲
2025 · 2.9%
Debt ≤ 1 year
€463,274▲
2025 · €266,711
Debt > 1 year
€69,715▼
2025 · €71,558
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,681 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 97% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.1%
went bankrupt
2.0%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.3% 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%.
| 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 4,681 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 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €5.0m | €3.7m | €3.7m | €4.0m | €5.2m | ▲ 28.2% |
| Turnover70 | €4.9m | €3.7m | €3.7m | €4.0m | €5.1m | ▲ 27.9% |
| Other operating income74 | €35,036 | €46,793 | €45,107 | €35,681 | €55,155 | ▲ 54.6% |
| Operating charges60/66A | €4.9m | €3.7m | €3.8m | €4.0m | €5.1m | ▲ 28.1% |
| Goods for resale, raw materials and consumables60 | €4.9m | €3.7m | €3.7m | €4.0m | €5.1m | ▲ 27.9% |
| Purchases600/8 | €4.9m | €3.7m | €3.7m | €4.0m | €5.1m | ▲ 27.9% |
| Services and other goods61 | €33,074 | €9,965 | €23,542 | €17,664 | €27,896 | ▲ 57.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €60,000 | €60,000 | €55,000 | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | -€12,048 | - | - | - | - | - |
| Other operating charges640/8 | €703 | €572 | €100 | €100 | €3,590 | ▲ 3,490% |
| Operating profit (loss)9901 | €28,629 | -€23,710 | -€29,517 | €17,917 | €26,510 | ▲ 48.0% |
| Financial income75/76B | €96,800 | €74,046 | €70,774 | €81,204 | €96,145 | ▲ 18.4% |
| Recurring financial income75 | €96,800 | €74,046 | €70,774 | €81,204 | €96,145 | ▲ 18.4% |
| Income from current assets751 | - | - | - | €0 | - | - |
| Other financial income752/9 | €96,800 | €74,046 | €70,774 | €81,204 | €96,145 | ▲ 18.4% |
| Financial charges65/66B | €98,824 | €75,189 | €71,820 | €84,131 | €94,864 | ▲ 12.8% |
| Recurring financial charges65 | €98,824 | €75,189 | €71,318 | €84,131 | €94,864 | ▲ 12.8% |
| Debt charges650 | €506 | €523 | €287 | - | - | - |
| Other financial charges652/9 | €98,319 | €74,666 | €71,030 | €84,131 | €94,864 | ▲ 12.8% |
| Non-recurring financial charges66B | - | - | €502 | - | - | - |
| Profit (loss) for the period before taxes9903 | €26,605 | -€24,853 | -€30,563 | €14,990 | €27,791 | ▲ 85.4% |
| Income taxes67/77 | €7,180 | - | - | - | - | - |
| Taxes670/3 | €7,180 | - | - | - | - | - |
| Profit (loss) for the period9904 | €19,425 | -€24,853 | -€30,563 | €14,990 | €27,791 | ▲ 85.4% |
| Profit (loss) for the period to be appropriated9905 | €19,425 | -€24,853 | -€30,563 | €14,990 | €27,791 | ▲ 85.4% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €531,189 | €429,284 | €587,650 | €511,890 | €734,400 | ▲ 43.5% |
| Fixed assets21/28 | €115,985 | €55,985 | €482 | €482 | €482 | = |
| Intangible fixed assets21 | €115,000 | €55,000 | - | - | - | - |
| Financial fixed assets28 | €985 | €985 | €482 | €482 | €482 | = |
| Other financial fixed assets284/8 | €985 | €985 | €482 | €482 | €482 | = |
| Shares284 | €985 | €985 | €482 | €482 | €482 | = |
| Current assets29/58 | €415,204 | €373,300 | €587,168 | €511,408 | €733,918 | ▲ 43.5% |
| Amounts receivable within one year40/41 | €225,248 | €146,003 | €338,949 | €176,282 | €632,987 | ▲ 259% |
| Trade receivables40 | €201,027 | €121,345 | €338,511 | €176,282 | €632,987 | ▲ 259% |
| Other amounts receivable41 | €24,221 | €24,659 | €438 | - | - | - |
| Cash at bank and in hand54/58 | €189,956 | €227,296 | €248,219 | €335,126 | €100,931 | ▼ 69.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €531,189 | €429,284 | €587,650 | €511,890 | €734,400 | ▲ 43.5% |
| Equity10/15 | €214,047 | €189,194 | €158,631 | €173,621 | €201,412 | ▲ 16.0% |
| Contributions10/11 | €19,840 | €19,840 | €19,840 | €19,840 | €19,840 | = |
| Reserves13 | €2,976 | €2,976 | €2,976 | €2,976 | €2,976 | = |
| Non-distributable reserves130/1 | €2,976 | €2,976 | €2,976 | €2,976 | €2,976 | = |
| Reserves not available under the articles1311 | €2,976 | €2,976 | €2,976 | €2,976 | €2,976 | = |
| Profit (loss) carried forward14 | €191,231 | €166,378 | €135,815 | €150,805 | €178,596 | ▲ 18.4% |
| Amounts payable17/49 | €317,142 | €240,091 | €429,020 | €338,269 | €532,988 | ▲ 57.6% |
| Amounts payable after more than one year17 | €73,042 | €79,106 | €81,587 | €71,558 | €69,715 | ▼ 2.6% |
| Other amounts payable178/9 | €73,042 | €79,106 | €81,587 | €71,558 | €69,715 | ▼ 2.6% |
| Amounts payable within one year42/48 | €244,100 | €160,985 | €347,433 | €266,711 | €463,274 | ▲ 73.7% |
| Trade debts44 | €169,855 | €113,026 | €274,578 | €196,647 | €419,422 | ▲ 113% |
| Suppliers440/4 | €169,855 | €113,026 | €274,578 | €196,647 | €419,422 | ▲ 113% |
| Taxes, remuneration and social security45 | €74,245 | - | - | - | €237 | - |
| Taxes450/3 | €74,245 | - | - | - | €237 | - |
| Other amounts payable47/48 | - | €47,958 | €72,855 | €70,064 | €43,615 | ▼ 37.7% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19,425 | -€24,853 | -€30,563 | €14,990 | €27,791 | ▲ 85.4% |
| + Depreciation and write-downs630 | €60,000 | €60,000 | €55,000 | - | - | - |
| Operating cash flow (approximation) | €79,425 | €35,147 | €24,437 | €14,990 | €27,791 | ▲ 85.4% |
| Investment in fixed assets (approximation) | - | €0 | €502 | €0 | €0 | - |
| Change in cash | - | €37,340 | €20,923 | €86,906 | -€234,195 | ▼ 369% |
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 2027, expected by
2026
10-07
NBB filing
Annual accounts filed
fiscal year 2026 · full schema
31-01
Financial
Equity above €200,000Eq €201,412 ▲16%
2 profitable years in a row build equity to €201,412.
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2025 · unclassified schema
31-01
Financial
Back to profitnet €14,990
Net result €14,990 after 2 loss-making years.
2024
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · unclassified schema
31-01
Financial
Weakest financial yearnet -€30,563
Net result drops to -€30,563, the lowest in the series; recovery starts the following year.
2023
14-07
NBB filing
Annual accounts filed
fiscal year 2023 · unclassified schema
2022
13-07
NBB filing
Annual accounts filed
fiscal year 2022 · unclassified schema
31-01
Financial
Equity above €200,000Eq €214,047 ▲10%
4 profitable years in a row build equity to €214,047.
2021
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · unclassified schema
31-01
Financial
Equity above €150,000Eq €194,622 ▲43.3%
3 profitable years in a row build equity to €194,622.
2020
24-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 24 days late
Show earlier events
31-01
Financial
Highest result since 2018net €82,056 ▲1,045%
Operating result €122,211, net result €82,056, both a record.
31-01
Financial
Equity above €100,000Eq €135,779 ▲153%
2 profitable years in a row build equity to €135,779.
2019
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
12-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
10-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 10 days late
2015
23-10
State Gazette act
Merger · Accounting effect
Tax treatment
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 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
9 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, Nivelles · 1 establishment unit since 1989
Ground area
1.8 ha
Building footprint
6,588 m²
Volume, LiDAR
64,679 m³
Parcel 25782C0086/00E000, Wallonia · tallest building 11.8 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Vieux chemin de Thines 14, 1402 Nivelles
since 19892.043.380.719
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25782C0086/00E000 | Wallonia | 1.8 ha | 1 · 6,588 m² | 11.8 m · 3 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
1 ownerChain of control
- Menouquin
- VEMAT
Highest known parent: Menouquin. The sources do not say who stands above it.
Owners 1
- Menouquinparent100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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.
Acquisitions and mergers
1 transactionTaken over by:Menouquin
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Of 2,709 companies in sector 73200 we hold annual accounts for 1,786. 1,353 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
Founded10-04-1989
Fiscal year end31-01
Activities, NACEBEL 2025
73200Market research and public opinion polling
73110Advertising agencies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0437396358
Also
9925:BE0437396358
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.