VEPA
ActiveVEPA has been active since 1977 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.52M and a net result of €195k. Equity is growing by ~3% per year across the filed fiscal years. Its solvency ranks better than 45% of 9016 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2024
74
/ 100
Healthy▼ -8 vs 2023
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability39▼-9
Solvency74▼-4
Growth52▼-26
Stability100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €190k at 30 days acceptable
Liquidity ample (current ratio 1.56 against 1.61 in 2023), but 60.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
39.9%
Return on assets
3.1%
Age of the figures
20 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-09-2025, 60 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 confirmed
2024
60 d late
2023
79 d late
2022
29 d late
2021
80 d late
2020
102 d late
2019
63 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Equity
€2.52M▲ 2.9%
2023 · €2.45M
2018: €2.17M
2019: €2.17M
2020: €2.21M
2021: €2.31M
2022: €2.32M
2023: €2.45M
2018 → 2024
Total assets
€6.32M▲ 8.6%
2023 · €5.82M
2018: €4.84M
2019: €4.84M
2020: €5.79M
2021: €6.07M
2022: €6.22M
2023: €5.82M
2018 → 2024
Net result
€195k▼ 17.3%
2023 · €235k
2018: €195k
2019: €58k
2020: €47k
2021: €147k
2022: €8k
2023: €235k
2018 → 2024
Working capital
€2.13M▲ 4.8%
2023 · €2.03M
2018: €1.73M
2019: €1.78M
2020: €1.86M
2021: €2.01M
2022: €1.91M
2023: €2.03M
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€2.21M-€2.31M▲ 4.4%€2.32M▲ 0.3%€2.45M▲ 5.6%€2.52M▲ 2.9%
Operating result€97k-€222k▲ 128%€77k▼ 65.2%€379k▲ 391%€328k▼ 13.4%
Net result€47k-€147k▲ 216%€8k▼ 94.9%€235k▲ 3,027%€195k▼ 17.3%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 13% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €6.32M
Fixed assets
€407k▼ 8.8%
Current assets
€5.91M▲ 10.1%
Equity and liabilities €6.32M
Equity
€2.52M▲ 2.9%
Debt
€3.80M▲ 12.7%
The debt ratio rises from 57.9% to 60.1%: debt grows faster than equity.
Key figures and ratios
EBITDA
€421k▼
2023 · €481k
Cash flow
€287k▼
2023 · €337k
Solvency
39.9%▼
2023 · 42.1%
Current ratio
1.56▼
2023 · 1.61
Quick ratio
0.91▼
2023 · 0.91
Debt / equity
1.51▲
2023 · 1.38
ROE
7.7%▼
2023 · 9.6%
ROA
3.1%▼
2023 · 4.0%
Interest coverage
4.88▼
2023 · 6.28
Debt
€3.80M▲
2023 · €3.37M
Debt ≤ 1 year
€3.78M▲
2023 · €3.34M
Debt > 1 year
€635▼
2023 · €17k
Income taxes
€62k▼
2023 · €85k
Staff costs
€926k▼
2023 · €951k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€5.82M€6.32M▲
Fixed assets21/28€447k€407k▼
Intangible fixed assets21€31k€23k▼
Tangible fixed assets22/27€409k€377k▼
Land and buildings22€85k€67k▼
Plant, machinery and equipment23€14k€14k▼
Furniture and vehicles24€40k€39k▼
Other tangible fixed assets26€270k€259k▼
Financial fixed assets28€7k€7k=
Current assets29/58€5.37M€5.91M▲
Stocks and contracts in progress3€2.32M€2.46M▲
Stocks30/36€2.32M€2.46M▲
Amounts receivable within one year40/41€2.98M€3.29M▲
Trade receivables40€2.89M€3.15M▲
Other amounts receivable41€93k€146k▲
Cash at bank and in hand54/58€64k€141k▲
Deferred charges and accrued income490/1€11k€12k▲
Equity and liabilities
Total equity and liabilities10/49€5.82M€6.32M▲
Equity10/15€2.45M€2.52M▲
Contributions10/11€19k€19k=
Reserves13€2.43M€2.50M▲
Tax-exempt reserves132€19k€19k=
Distributable reserves133€2.41M€2.48M▲
Amounts payable17/49€3.37M€3.80M▲
Amounts payable after more than one year17€17k€635▼
Financial debts170/4€17k€635▼
Amounts payable within one year42/48€3.34M€3.78M▲
Current portion of amounts payable after more than one year42€59k€16k▼
Financial debts43€913k€913k=
Credit institutions430/8€913k€913k=
Trade debts44€1.35M€2.00M▲
Suppliers440/4€1.35M€2.00M▲
Advances received on contracts in progress46€21k€45k▲
Taxes, remuneration and social security45€333k€219k▼
Taxes450/3€174k€53k▼
Remuneration and social security454/9€159k€166k▲
Other amounts payable47/48€668k€588k▼
Accrued charges and deferred income492/3€12k€14k▲
Income statement
Code20232024
Non-recurring operating income76A€500€413▼
Remuneration, social security and pensions62€951k€926k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€102k€93k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-117k€77k▲
Other operating charges640/8€20k€13k▼
Non-recurring operating charges66A€31k€53k▲
Gross operating margin9900€1.37M€1.49M▲
Operating profit (loss)9901€379k€328k▼
Financial income75/76B€18k€14k▼
Recurring financial income75€18k€14k▼
Financial charges65/66B€77k€86k▲
Recurring financial charges65€77k€86k▲
Profit (loss) for the period before taxes9903€320k€256k▼
Income taxes67/77€85k€62k▼
Profit (loss) for the period9904€235k€195k▼
Profit (loss) for the period to be appropriated9905€235k€195k▼
Appropriation of the result
Profit (loss) to be appropriated9906€235k€195k▼
Transfer to equity691/2€131k€72k▼
To other reserves6921€131k€72k▼
Profit to be distributed694/7€105k€123k▲
Return on contributions (dividend)694€63k€63k=
Directors or managers695€42k€60k▲
Social balance
Average headcount (FTE)908718.418.9▲
The notes to these accounts (23 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 60 days late
2024
18-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 79 days late
2023
31-12
Financial
Highest result since 2018net €235k ▲3027%
Operating result €379k, net result €235k, both a record.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 29 days late
2022
31-12
Financial
Weakest financial yearnet €8k ▼94.9%
Net result drops to €8k, the lowest in the series; recovery starts the following year.
19-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 80 days late
2021
10-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 102 days late
2020
02-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 63 days late
2019
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
27-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
25-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2019
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
18-12-2019
Resigned as Manager
Location & real-estate footprint
Registered office, Zelzate · 2 establishment units since 1978
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Karnemelkstraat 119060 ZelzateGround area
9,397 m²
Building footprint
3,680 m²
Volume, LiDAR
24,448 m³
2 parcels, Flanders · tallest building 9.6 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
Karnemelkstraat 11, 9060 Zelzate
since 19782.014.477.786
Vijverstraat 23, 9230 Wetteren
since 20242.360.552.804
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43302B0430/00N003 | Flanders | 9,222 m² | 1 · 3,607 m² | 8.5 m · 2 fl. |
| 42302E0008/00C006 | Flanders | 175 m² | 1 · 73 m² | 9.6 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
2 connected companiesNetwork connections
Shared address
→
Shared address
→
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Of 469 companies in sector 46842 we hold annual accounts for 344. 212 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded25-11-1977
Fiscal year end31-12
Activities, NACEBEL
46842Wholesale trade
51542
47521Retail sale of hardware, building materials, paint and glass (general range)
52461
Sources
Crossroads Bank for EnterprisesNational Bank · 47 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.