VEPP
ActiveFinancials · financial year 2024, full format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 3 November 2026.
Annual accounts 2024 filed on 14-08-2025 PDF all 24 filings
Turnover
≈ €1.6m
Estimated: probably between €1.1m and €2.6m
EBIT margin
Not included in this filing
Net result
€724,168▲ 5.6%
2023 · €685,568
Working capital
€14,022▲ 31.9%
2023 · €10,635
In the rankings
#4 oldest company in Saint-Nicolas, Health and social work sector#8 company by total assets in Saint-Nicolas, Health and social work sector
Multi-year overview
2018 to 2024, 7 financial yearsOperating result
€728,993
▲ 6.7%
2024
20182024
Net result
€724,168
▲ 5.6%
2024
highest quarter of the sector
20182024
Equity
€21,136
▲ 24.6%
2024
lowest quarter of the sector
20182024
Total assets
€763,951
▲ 6.7%
2024
middle half of the sector
20182024
Debt
€742,815
▲ 6.3%
2024
20182024
Working capital
€14,022
▲ 31.9%
2024
lowest quarter of the sector
20182024
Solvency
2.8%
▲ 0.4pp
2024
lowest quarter of the sector
20182024
Current ratio
1.02
=
2024
lowest quarter of the sector
20182024
Return on assets (ROA)
94.8%
▼ 1.0pp
2024
highest quarter of the sector
20182024
Staff (FTE)
1.9
▲ 18.8%
2024
middle half of the sector
20182024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Operating result€569,656-€556,319▼ 2.3%€757,069▲ 36.1%€807,086▲ 6.6%€741,296▼ 8.2%€683,165▼ 7.8%€728,993▲ 6.7%
Net result€106,939-€272,301▲ 155%€754,788above the sector's middle half▲ 177%€804,525above the sector's middle half▲ 6.6%€737,019above the sector's middle half▼ 8.4%€685,568above the sector's middle half▼ 7.0%€724,168above the sector's middle half▲ 5.6%
Equity€123,017-€8,317▼ 93.2%€9,106below the sector's middle half▲ 9.5%€14,381below the sector's middle half▲ 57.9%€11,399below the sector's middle half▼ 20.7%€16,968below the sector's middle half▲ 48.8%€21,136below the sector's middle half▲ 24.6%
Total assets€402,643-€450,366▲ 11.9%€807,458within the sector's middle half▲ 79.3%€852,956within the sector's middle half▲ 5.6%€772,590within the sector's middle half▼ 9.4%€715,753within the sector's middle half▼ 7.4%€763,951within the sector's middle half▲ 6.7%
Debt€279,627-€442,049▲ 58.1%€798,352▲ 80.6%€838,575▲ 5.0%€761,190▼ 9.2%€698,786▼ 8.2%€742,815▲ 6.3%
Working capital€86,734--€3,748€1,452below the sector's middle half€3,879below the sector's middle half▲ 167%€2,836below the sector's middle half▼ 26.9%€10,635below the sector's middle half▲ 275%€14,022below the sector's middle half▲ 31.9%
Solvency30.6%-1.8%▼ 28.7pp1.1%below the sector's middle half▼ 0.7pp1.7%below the sector's middle half▲ 0.6pp1.5%below the sector's middle half▼ 0.2pp2.4%below the sector's middle half▲ 0.9pp2.8%below the sector's middle half▲ 0.4pp
Current ratio1.36-0.99▼ 0.371.00below the sector's middle half▲ 0.011.00below the sector's middle half=1.00below the sector's middle half=1.02below the sector's middle half▲ 0.011.02below the sector's middle half=
Return on assets (ROA)26.6%-60.5%▲ 33.9pp93.5%above the sector's middle half▲ 33.0pp94.3%above the sector's middle half▲ 0.8pp95.4%above the sector's middle half▲ 1.1pp95.8%above the sector's middle half▲ 0.4pp94.8%above the sector's middle half▼ 1.0pp
Staff (FTE)1.5-1.5=1.5within the sector's middle half=1.5below the sector's middle half=1.4below the sector's middle half▼ 6.7%1.6below the sector's middle half▲ 14.3%1.9within the sector's middle half▲ 18.8%
above
within
below
The sector band is the middle half of the companies in Human health activities (NACE 86). 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 operating result for 2024 is 7% higher than in 2023. It is a recovery after the fall in 2023.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €763,951
Fixed assets
€7,113 ▲ 12.3%
Current assets
€756,838 ▲ 6.7%
Equity and liabilities €763,951
Equity
€21,136 ▲ 24.6%
Debt
€742,815 ▲ 6.3%
Debt's share of the balance-sheet total falls from 97.6% to 97.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€730,408▲
2023 · €685,395
Cash flow
€725,582▲
2023 · €687,799
Quick ratio
0.96▲
2023 · 0.94
Debt to equity
35.14▼
2023 · 41.18
Interest coverage
over 100
2023 · over 100
Debt ≤ 1 year
€742,815▲
2023 · €698,786
Income taxes
-€1,563▼
2023 · €88
Staff costs
€100,448▲
2023 · €77,625
A ratio outside any meaningful range has been withheld (balance sheet total €763,951, equity €21,136).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 2 | 2 | 3 | 3 |
| part-time | 2 | 2 | 3 | 3 |
| in full-time equivalents | 1.5 | 1.4 | 1.6 | 1.9 |
| Average over the year, in full-time equivalents | 1.5 | 1.4 | 1.6 | 1.9 |
| On a permanent contract | 2 | 2 | 3 | 3 |
| Joined | - | 1 | 2 | - |
| Left | - | 0 | 1 | - |
Source: social balance sheet in the 2021 to 2024 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Tangible fixed assets | €6,807 | €1,717 | €8,543 | €2,195 |
| Depreciation and write-downs of the year | €11,698 | €12,005 | €2,230 | €1,414 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €69,637 | €83,463 | €77,625 | €100,448 | ▲ 29.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €34,860 | €25,625 | €11,855 | €11,698 | €12,005 | €2,230 | €1,414 | ▼ 36.6% |
| Other operating charges640/8 | - | - | - | €2,686 | €3,188 | €1,521 | €632 | ▼ 58.4% |
| Gross operating margin9900 | €674,978 | €658,015 | €828,212 | €891,107 | €839,952 | €764,542 | €831,488 | ▲ 8.8% |
| Operating profit (loss)9901 | €569,656 | €556,319 | €757,069 | €807,086 | €741,296 | €683,165 | €728,993 | ▲ 6.7% |
| Financial income75/76B | - | - | - | - | €1 | €8,400 | €1,036 | ▼ 87.7% |
| Recurring financial income75 | €42 | €1 | - | - | €1 | €1,297 | €1,034 | ▼ 20.2% |
| Non-recurring financial income76B | - | - | - | - | €1 | €7,103 | €1 | ▼ 100.0% |
| Financial charges65/66B | - | - | - | €2,192 | €3,828 | €5,909 | €7,423 | ▲ 25.6% |
| Recurring financial charges65 | €419,550 | €283,037 | €1,554 | €1,968 | €3,828 | €3,690 | €2,739 | ▼ 25.8% |
| Non-recurring financial charges66B | - | - | - | €224 | - | €2,219 | €4,684 | ▲ 111% |
| Profit (loss) for the period before taxes9903 | €155,592 | €273,315 | €755,517 | €804,895 | €737,469 | €685,656 | €722,606 | ▲ 5.4% |
| Income taxes67/77 | €48,654 | €1,014 | €728 | €370 | €451 | €88 | -€1,563 | - |
| Profit (loss) for the period9904 | €106,939 | €272,301 | €754,788 | €804,525 | €737,019 | €685,568 | €724,168 | ▲ 5.6% |
| Profit (loss) for the period to be appropriated9905 | €106,939 | €272,301 | €754,788 | €804,525 | €737,019 | €685,568 | €724,168 | ▲ 5.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €402,643 | €450,366 | €807,458 | €852,956 | €772,590 | €715,753 | €763,951 | ▲ 6.7% |
| Fixed assets21/28 | €76,141 | €35,598 | €23,743 | €18,851 | €8,563 | €6,333 | €7,113 | ▲ 12.3% |
| Tangible fixed assets22/27 | €75,841 | €35,298 | €23,443 | €18,551 | €8,263 | €6,033 | €6,813 | ▲ 12.9% |
| Furniture and vehicles24 | - | - | - | €10,233 | €1,602 | €856 | €6,813 | ▲ 696% |
| Other tangible fixed assets26 | - | - | - | €8,318 | €6,662 | €5,177 | - | - |
| Financial fixed assets28 | €300 | €300 | €300 | €300 | €300 | €300 | €300 | = |
| Current assets29/58 | €326,503 | €414,769 | €783,715 | €834,105 | €764,026 | €709,420 | €756,838 | ▲ 6.7% |
| Stocks and contracts in progress3 | €37,357 | €32,780 | €31,476 | €34,380 | €95,435 | €49,889 | €40,264 | ▼ 19.3% |
| Contracts in progress37 | - | - | - | €34,380 | €95,435 | €49,889 | €40,264 | ▼ 19.3% |
| Amounts receivable within one year40/41 | €232,223 | €286,049 | €147,946 | €39,362 | €36,650 | €46,563 | €46,595 | ▲ 0.1% |
| Trade receivables40 | - | - | - | €39,000 | €36,000 | €45,000 | - | - |
| Other amounts receivable41 | - | - | - | €362 | €650 | €1,563 | €46,595 | ▲ 30× |
| Cash at bank and in hand54/58 | €56,923 | €94,295 | €603,186 | €759,908 | €627,757 | €612,969 | €669,980 | ▲ 9.3% |
| Deferred charges and accrued income490/1 | - | - | - | €455 | €4,184 | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €402,643 | €450,366 | €807,458 | €852,956 | €772,590 | €715,753 | €763,951 | ▲ 6.7% |
| Equity10/15 | €123,017 | €8,317 | €9,106 | €14,381 | €11,399 | €16,968 | €21,136 | ▲ 24.6% |
| Contributions10/11 | €6,250 | €6,250 | €6,250 | - | - | - | - | - |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Profit (loss) carried forward14 | €114,907 | €208 | €996 | €12,521 | €9,540 | €15,108 | €19,277 | ▲ 27.6% |
| Amounts payable17/49 | €279,627 | €442,049 | €798,352 | €838,575 | €761,190 | €698,786 | €742,815 | ▲ 6.3% |
| Amounts payable after more than one year17 | €39,858 | €23,533 | €16,010 | €8,350 | - | - | - | - |
| Financial debts170/4 | - | - | - | €8,350 | - | - | - | - |
| Amounts payable within one year42/48 | €239,769 | €418,517 | €782,264 | €830,225 | €761,190 | €698,786 | €742,815 | ▲ 6.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €7,660 | €8,350 | - | - | - |
| Trade debts44 | €9,243 | €14,308 | €8,171 | €9,258 | €2,196 | €9,136 | €7,249 | ▼ 20.6% |
| Suppliers440/4 | - | - | - | €9,258 | €2,196 | €9,136 | €7,249 | ▼ 20.6% |
| Advances received on contracts in progress46 | - | - | - | €5,759 | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €8,334 | €10,584 | €9,592 | €15,566 | ▲ 62.3% |
| Taxes450/3 | - | - | - | €370 | €10,584 | - | - | - |
| Remuneration and social security454/9 | - | - | - | €7,964 | - | €9,592 | €15,566 | ▲ 62.3% |
| Other amounts payable47/48 | - | - | - | €799,214 | €740,061 | €680,058 | €720,000 | ▲ 5.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €106,939 | €272,301 | €754,788 | €804,525 | €737,019 | €685,568 | €724,168 | ▲ 5.6% |
| + Depreciation and write-downs630 | €34,860 | €25,625 | €11,855 | €11,698 | €12,005 | €2,230 | €1,414 | ▼ 36.6% |
| Operating cash flow (approximation) | €141,798 | €297,926 | €766,643 | €816,223 | €749,024 | €687,799 | €725,582 | ▲ 5.5% |
| Investment in fixed assets (approximation) | - | €14,918 | €0 | -€6,807 | -€1,717 | €0 | -€2,195 | - |
| Change in cash | - | €37,372 | €508,892 | €156,722 | -€132,151 | -€14,788 | €57,011 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 931 companies had the same profile as VEPP has now. Two years later, 93.2% were still going and 1.9% had gone bankrupt.
- Micro
- 20 years or older
- solvency under 10%
- a profit of 5% of the balance sheet or more
93.2%
was still going
4.5%
stopped otherwise
1.9%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of VEPP itself is lower: 0.2% within 12 months. It rests on far more data about VEPP than the profile alone.
Test of the method
The method was tested on the 497,446 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.
| 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 931 companies, not a prediction for VEPP. 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.
Latest 10 of 24 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | full format | 14-08-2025 | 2025-00383355 | |
| 31-12-2023 | full format | 22-07-2024 | 2024-00273869 | |
| 31-12-2022 | full format | 20-07-2023 | 2023-00258911 | |
| 31-12-2021 | full format | 20-07-2022 | 2022-20210404 | |
| 31-12-2020 | full format | 29-09-2021 | 2021-69100124 | |
| 31-12-2019 | full format | 30-10-2020 | 2020-66700038 | |
| 31-12-2018 | full format | 27-09-2019 | 2019-66800110 | |
| 31-12-2017 | full format | 31-08-2018 | 2018-56800573 | |
| 31-12-2016 | full format | 18-08-2017 | 2017-44400578 | |
| 31-12-2015 | full format | 31-08-2016 | 2016-53700345 |