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VEN

Active
Private limited companyfounded 1991active for 35 yearsNitterveldstraat 9, 9681 Maarkedal, BelgiumKBO/BCE: BE 0444.439.251

Financials · financial year 2025, micro format

Annual accounts 2025 filed on 13-07-2026 at the NBB all 34 filings

Equity
€195,320▲ 146%
2024 · €79,338
Total assets
€454,319▲ 190%
2024 · €156,867
Net result
€215,982▲ 16×
2024 · €13,176
Working capital
€191,857
2024 · -€18,553
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result for 2025 is a loss of €56,220, after a profit of €22,671 in 2024. It is the lowest result since 2021.

Operating result-€56,220 2025 Net result€215,982 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Legal and accounting activities (NACE 69). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Operating result€5,560-€35,781▲ 544%€10,452▼ 70.8%€9,592▼ 8.2%€25,597▲ 167%€20,811▼ 18.7%€22,671▲ 8.9%-€56,220
Net result€2,546-€31,576▲ 12×€6,142below the sector's middle half▼ 80.5%€5,048below the sector's middle half▼ 17.8%€19,483within the sector's middle half▲ 286%€11,811within the sector's middle half▼ 39.4%€13,176within the sector's middle half▲ 11.6%€215,982above the sector's middle half▲ 16×
Equity€24,602-€28,178▲ 14.5%€34,320below the sector's middle half▲ 21.8%€46,868within the sector's middle half▲ 36.6%€54,351within the sector's middle half▲ 16.0%€66,162within the sector's middle half▲ 21.7%€79,338within the sector's middle half▲ 19.9%€195,320within the sector's middle half▲ 146%
Total assets€84,599-€88,634▲ 4.8%€109,587within the sector's middle half▲ 23.6%€170,418within the sector's middle half▲ 55.5%€172,078within the sector's middle half▲ 1.0%€161,594within the sector's middle half▼ 6.1%€156,867within the sector's middle half▼ 2.9%€454,319within the sector's middle half▲ 190%
Debt€59,997-€60,457▲ 0.8%€75,267▲ 24.5%€123,549▲ 64.1%€117,727▼ 4.7%€95,432▼ 18.9%€77,529▼ 18.8%€258,999▲ 234%
Working capital€21,859-€28,560▲ 30.7%€2,893below the sector's middle half▼ 89.9%€8,124below the sector's middle half▲ 181%-€6,198below the sector's middle half-€22,379below the sector's middle half▼ 261%-€18,553below the sector's middle half▲ 17.1%€191,857above the sector's middle half
Solvency29.1%-31.8%▲ 2.7pp31.3%within the sector's middle half▼ 0.5pp27.5%below the sector's middle half▼ 3.8pp31.6%within the sector's middle half▲ 4.1pp40.9%within the sector's middle half▲ 9.4pp50.6%within the sector's middle half▲ 9.6pp43.0%within the sector's middle half▼ 7.6pp
Current ratio1.36-1.48▲ 0.121.05below the sector's middle half▼ 0.431.15below the sector's middle half▲ 0.090.92below the sector's middle half▼ 0.230.73below the sector's middle half▼ 0.190.75below the sector's middle half▲ 0.021.75within the sector's middle half▲ 0.99
Return on assets (ROA)3.0%-35.6%▲ 32.6pp5.6%within the sector's middle half▼ 30.0pp3.0%below the sector's middle half▼ 2.6pp11.3%within the sector's middle half▲ 8.4pp7.3%within the sector's middle half▼ 4.0pp8.4%within the sector's middle half▲ 1.1pp47.5%above the sector's middle half▲ 39.1pp
above within below The sector band is the middle half of the companies in Legal and accounting activities (NACE 69). 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.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €454,319
Fixed assets €6,006 ▼ 94.0%
Current assets €448,313 ▲ 688%
Equity and liabilities €454,319
Equity €195,320 ▲ 146%
Debt €258,999 ▲ 234%
Debt's share of the balance-sheet total rises from 49.4% to 57.0%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
-€55,023▼
2024 · €23,714
Cash flow
€217,180▲
2024 · €14,218
Debt to equity
1.33▲
2024 · 0.98
ROE
110.6%▲
2024 · 16.6%
Interest coverage
-25.25▼
2024 · 21.81
Debt ≤ 1 year
€256,456▲
2024 · €75,420
Debt > 1 year
€0▼
2024 · €1,000
Income taxes
€55,624▲
2024 · €8,408
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€8,096---€7,203
Financial fixed assets€50,000----
Depreciation and write-downs of the year€1,951€2,699€2,699€1,043€1,197

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Comparable companies

These companies have the same main activity as VEN: certified accountants and tax accountants (NACE 69201). They are comparable in size and age: total assets between €391,000 and €545,000, founded between 1984 and 1996.

CompanyFoundedTotal assetsEquityGross marginTurnoverNet resultFinancial year
VEN Maarkedal1991€454,319€195,320-€54,083-€215,9822025
ACCOUNTANTSKANTOOR ENERGIA Oudenaarde1992€513,470€312,760-€10,990--€44,5542024
PAUWELS ERIC Wortegem-Petegem1993€545,102€542,874-€2,187--€24,7982025
ADMIN - BURO Gent1996€413,571€388,428-€23,892--€46,3992025
DECOCK GEERT - BOEKHOUDINGSKANTOOR Wervik1995€481,134€471,099-€6,790€7,242€24,5562025
SOCIETE DE GESTION COMPTABLE Walcourt1987€390,666€376,277-€5,877-€14,9982025
BELCADAX Ottignies-Louvain-la-Neuve1984€413,491€168,166-€5,889--€22,2382025

They were chosen from the 7,240 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Companies with the same profile, two years later

Historical observation

In July 2024, 20,136 companies had the same profile as VEN has now. Two years later, 0.2% had gone bankrupt and 95.0% were still going.

  • Small
  • 20 years or older
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more
0.2% went bankrupt
4.7% stopped otherwise
95.0% was still going

That fits the bankruptcy probability of VEN itself: < 0.1% within 12 months.

Test of the method

The method was tested on the 497,445 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 20,136 companies, not a prediction for VEN. 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.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 49 lines

Source: Annual accounts 2025 at the NBB, filed on 13-07-2026.

Balance sheet Code20242025
Assets
Total assets20/58€156,867€454,319▲
Fixed assets21/28€100,000€6,006▼
Tangible fixed assets22/27€0€6,006▲
Furniture and vehicles24€0€6,006▲
Financial fixed assets28€100,000€0▼
Current assets29/58€56,867€448,313▲
Amounts receivable within one year40/41€33,671€41,437▲
Trade receivables40€33,545€31,755▼
Other amounts receivable41€126€9,682▲
Cash at bank and in hand54/58€14,436€401,930▲
Deferred charges and accrued income490/1€8,760€4,946▼
Equity and liabilities
Total equity and liabilities10/49€156,867€454,319▲
Equity10/15€79,338€195,320▲
Contributions10/11€26,200€26,200=
Reserves13€53,138€169,120▲
Distributable reserves133€53,138€169,120▲
Profit (loss) carried forward14-€0
Amounts payable17/49€77,529€258,999▲
Amounts payable after more than one year17€1,000€0▼
Financial debts170/4€1,000€0▼
Amounts payable within one year42/48€75,420€256,456▲
Current portion of amounts payable after more than one year42€10,789€1,000▼
Financial debts43€0€356▲
Credit institutions430/8€0€356▲
Trade debts44€37,408€130,808▲
Suppliers440/4€37,408€130,808▲
Taxes, remuneration and social security45€6,568€124▼
Taxes450/3€6,568€124▼
Other amounts payable47/48€20,656€124,168▲
Accrued charges and deferred income492/3€1,109€2,543▲
Income statement Code20242025
Non-recurring operating income76A-€4,525
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1,043€1,197▲
Other operating charges640/8€1,362€940▼
Gross operating margin9900€25,076-€54,083▼
Operating profit (loss)9901€22,671-€56,220▼
Financial income75/76B€0€330,005▲
Recurring financial income75€0€5▲
Non-recurring financial income76B-€330,000
Financial charges65/66B€1,087€2,179▲
Recurring financial charges65€1,087€2,179▲
Profit (loss) for the period before taxes9903€21,584€271,606▲
Income taxes67/77€8,408€55,624▲
Profit (loss) for the period9904€13,176€215,982▲
Profit (loss) for the period to be appropriated9905€13,176€215,982▲
Appropriation of the result
Profit (loss) to be appropriated9906€13,176€215,982▲
Transfer to equity691/2€13,176€115,982▲
To other reserves6921€13,176€115,982▲
Profit to be distributed694/7-€100,000
Directors or managers695-€100,000

The notes to these accounts have 14 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Line20182019202020212022202320242025Change
Non-recurring operating income76A---€4,072€0--€4,525-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2,744€3,038€295€1,951€2,699€2,699€1,043€1,197▲ 14.8%
Other operating charges640/8---€1,776€1,137€1,236€1,362€940▼ 31.0%
Gross operating margin9900€9,338€39,766€11,975€13,319€29,433€24,746€25,076-€54,083-
Operating profit (loss)9901€5,560€35,781€10,452€9,592€25,597€20,811€22,671-€56,220-
Financial income75/76B---€1€0€0€0€330,005-
Recurring financial income75--€2€1€0€0€0€5-
Non-recurring financial income76B-------€330,000-
Financial charges65/66B---€967€1,154€1,184€1,087€2,179▲ 100%
Recurring financial charges65€34€1,011€184€967€1,154€1,184€1,087€2,179▲ 100%
Profit (loss) for the period before taxes9903€5,526€34,770€10,270€8,626€24,444€19,627€21,584€271,606▲ 13×
Income taxes67/77€2,981€3,195€4,128€3,578€4,961€7,817€8,408€55,624▲ 562%
Profit (loss) for the period9904€2,546€31,576€6,142€5,048€19,483€11,811€13,176€215,982▲ 16×
Profit (loss) for the period to be appropriated9905€2,546€31,576€6,142€5,048€19,483€11,811€13,176€215,982▲ 16×
Line20182019202020212022202320242025Change
Assets
Total assets20/58€84,599€88,634€109,587€170,418€172,078€161,594€156,867€454,319▲ 190%
Fixed assets21/28€2,744€589€50,295€106,440€103,741€101,043€100,000€6,006▼ 94.0%
Tangible fixed assets22/27€2,744€589€295€6,440€3,741€1,043€0€6,006-
Plant, machinery and equipment23---€0-----
Furniture and vehicles24---€6,440€3,741€1,043€0€6,006-
Financial fixed assets28--€50,000€100,000€100,000€100,000€100,000€0▼ 100%
Current assets29/58€81,855€88,045€59,293€63,978€68,337€60,552€56,867€448,313▲ 688%
Amounts receivable within one year40/41€18,541€45,775€19,233€28,915€31,127€26,880€33,671€41,437▲ 23.1%
Trade receivables40---€28,915€30,125€26,335€33,545€31,755▼ 5.3%
Other amounts receivable41---€0€1,002€545€126€9,682▲ 77×
Cash at bank and in hand54/58€26,663€10,762€12,906€12,646€18,682€20,076€14,436€401,930▲ 28×
Deferred charges and accrued income490/1---€22,417€18,528€13,596€8,760€4,946▼ 43.5%
Equity and liabilities
Total equity and liabilities10/49€84,599€88,634€109,587€170,418€172,078€161,594€156,867€454,319▲ 190%
Equity10/15€24,602€28,178€34,320€46,868€54,351€66,162€79,338€195,320▲ 146%
Contributions10/11€18,700€18,700-€26,200€26,200€26,200€26,200€26,200=
Reserves13€5,902€9,478€15,620€20,668€28,151€39,962€53,138€169,120▲ 218%
Non-distributable reserves130/1---€0-----
Reserves not available under the articles1311---€0-----
Distributable reserves133---€20,668€28,151€39,962€53,138€169,120▲ 218%
Profit (loss) carried forward14----€0€0-€0-
Amounts payable17/49€59,997€60,457€75,267€123,549€117,727€95,432€77,529€258,999▲ 234%
Amounts payable after more than one year17--€18,867€67,644€42,838€11,789€1,000€0▼ 100%
Financial debts170/4---€67,644€42,838€11,789€1,000€0▼ 100%
Amounts payable within one year42/48€59,997€59,485€56,400€55,853€74,535€82,931€75,420€256,456▲ 240%
Current portion of amounts payable after more than one year42---€18,567€18,806€25,048€10,789€1,000▼ 90.7%
Financial debts43---€1,003€1,003€1,632€0€356-
Credit institutions430/8---€1,003€1,003€1,632€0€356-
Trade debts44€19,300€20,515€21,158€33,285€35,566€47,651€37,408€130,808▲ 250%
Suppliers440/4---€33,285€35,566€47,651€37,408€130,808▲ 250%
Taxes, remuneration and social security45---€2,969€4,583€5,778€6,568€124▼ 98.1%
Taxes450/3---€2,969€4,583€5,778€6,568€124▼ 98.1%
Other amounts payable47/48---€29€14,576€2,822€20,656€124,168▲ 501%
Accrued charges and deferred income492/3---€53€355€712€1,109€2,543▲ 129%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€2,546€31,576€6,142€5,048€19,483€11,811€13,176€215,982▲ 16×
+ Depreciation and write-downs630€2,744€3,038€295€1,951€2,699€2,699€1,043€1,197▲ 14.8%
Operating cash flow (approximation)€5,289€34,614€6,437€6,999€22,182€14,510€14,218€217,180▲ 15×
Investment in fixed assets (approximation)--€884-€50,000-€58,096€0€0€0€92,797-
Change in cash--€15,901€2,144-€260€6,036€1,395-€5,640€387,494-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Latest 10 of 34 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 micro format 13-07-2026 2026-00292897 NBB
31-12-2024 micro format 02-07-2025 2025-00213636 PDF
31-12-2023 micro format 03-07-2024 2024-00201980 PDF
31-12-2022 micro format 29-06-2023 2023-00174611 PDF
31-12-2021 micro format 25-04-2022 2022-20007715 PDF
31-12-2020 micro format 25-03-2021 2021-08800544 PDF
31-12-2019 micro format 29-05-2020 2020-14400380 PDF
31-12-2018 micro format 05-07-2019 2019-29300270 PDF
31-12-2017 micro format 04-07-2018 2018-29300388 PDF
31-12-2016 micro format 23-06-2017 2017-20800452 PDF

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