Equity
€854,156 ▲ 12.2%
VERMANDELE BART has made a profit in every financial year since 2018.
VERMANDELE BART
Lifetime
8 annual accounts with figures on one time axispeak €310,323 (2025)
€310,323▲ 10.2%
peak €177,255 (2024)
€158,477▼ 10.6%
peak €854,156 (2025)
€854,156▲ 12.2%
€214,528▲ 53.2%
Board2 names since 2021
2 directorsTraen Ann and 1 other
Documentsfilings and deeds
29-06-202632 days before the deadline
2025micro format
Dividend €65,486Equity from €761,164 to €854,156Debts from €140,017 to €214,528Investments €137,568Cash from €148,503 to €811,685
Key points
from the 2025 annual accountsInvestments
€137,568 4.4 × depreciation
Green is investment, beige is depreciation.
Filings
8 annual accounts since 2018
The last five annual accounts were filed 0 to 54 days before the end of the period.
Checked score
97
Excellent
Financially stronger than 80% of micro companies in specialised construction (NACE 43)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.2%▲ +0.1 percentage points vs 06-2025highest value
08-2025: < 0.1%▼ -0.2 percentage points vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026lowest value
08-2026: < 0.1%● unchanged vs 07-2026lowest value
09-2026: < 0.1%● unchanged vs 08-2026
10-2026: < 0.1%● unchanged vs 09-2026
11-2026: < 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Sector: Specialised construction activities (NACE 43)
lowers risk
Liquidity: current ratio 18.41, cash €811,685
Equity €854,156 (79.9% of total assets)
Founded in 1994
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 90% of them on solvency, 98% on liquidity, 72% on profitability and 58% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 20,137 companies had the same profile as VERMANDELE BART has now. Each dot stands for 51 companies, two years later.
95.1%
were still trading
4.7%
stopped another way
0.2%
went bankrupt
That fits the bankruptcy probability of VERMANDELE BART itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 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 20,137 companies, not a prediction for VERMANDELE BART. 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.
Credit verdict
Credit of up to €80,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 18.41 (21.05 in 2024), above the usual 1.5. Short-term debt is 4.5% and cash 76% of total assets. 20.1% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-06-2026, 32 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
32 days early
2024
6 days early
2023
54 days early
2022
on the day
2021
51 days early
2020
4 days early
2019
42 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 27 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 29 June (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
TA
Traen Ann
Director
VB
Vermandele Bart
Director
- Bart Vermandeledeed of 11-01-2024
- Ann Traendeed of 11-01-2024
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0452826682
Capital conversion · Amendment of the articles · Legal-form change
Bart Vermandele is a shareholder · Ann Traen is a shareholder · General meeting of 26-12-2023 · Gazette deed
First establishment
Verbanck-Vermandele, Monnikenstraat 50, Middelkerke
Incorporation
published on 09-07-1994 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| VERMANDELE BART Middelkerke | €1.1m | €310,323 | 79.9% | - |
| CLAEYS J. Menen | €1.2m | €322,493 | 42.3% | 2.7 |
| VAN HEMELEN Merksplas | €1.1m | €344,114 | 60.4% | 2 |
| SMETS & C° Tervuren | €1.0m | €362,128 | 88.8% | 3.3 |
| VERELEC Dessel | €1.0m | €342,953 | 66.8% | 2.4 |
| A.G. THERMO - SERVICE Geraardsbergen | €1.1m | €277,673 | 61.9% | 4.9 |
| HOUBAGRI Beauraing | €1.1m | €256,102 | 48.4% | 1 |
These companies have the same main activity as VERMANDELE BART: installation of electric heating, air conditioning, cooling and ventilation (NACE 43222). They are comparable in size and age: total assets between €984,000 and €1.2m, founded between 1991 and 1997.
Official details
Source: KBO- Status
- Active since 17-06-1994Normal situation
- Activity
- Installation of electric heating, air conditioning, cooling and ventilationNACE 43222and 1 other
- Establishment unit
- 2.151.693.2938433 Middelkerke, since 30-01-2006
- Financial year end
- 31 December
- Peppol
- Reachable since 05-12-2025
Annual accounts 2025
- ≈ €770,000estimated
- €1.1m▲ 18.6%
- ≈ 1.2 FTEestimated
- Filing
- Filed on 29-06-2026, 32 days before the end of the filing period
Insights on VERMANDELE BART
VERMANDELE BART files the micro format. That format states no turnover. The gross margin rose from €86,815 in 2018 to €310,323 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about VERMANDELE BART
- What is the company number of VERMANDELE BART?
- The company number of VERMANDELE BART is 0452.826.682. The VAT number is the same number with BE in front: BE 0452.826.682.
- Where is VERMANDELE BART based?
- The registered office is at Monnikenstraat 50, 8433 Middelkerke.Company details
- What does VERMANDELE BART do?
- According to the KBO register, the main activity is installation of electric heating, air conditioning, cooling and ventilation (NACE 43222).
- What is the legal form of VERMANDELE BART?
- VERMANDELE BART is a private limited company (BV).
- When was VERMANDELE BART founded?
- VERMANDELE BART was founded on 17-06-1994.
- Is VERMANDELE BART still active?
- Yes, VERMANDELE BART is an active enterprise in the KBO register.
- How many employees does VERMANDELE BART have?
- VERMANDELE BART had an average of 0.3 full-time equivalents in financial year 2024, according to the filed annual accounts.Financials
- What is the turnover of VERMANDELE BART?
- The turnover in financial year 2025 is ≈ €770,000. This figure is estimated from the gross margin of €310,323 and 32 comparable companies (NACE 432). It probably lies between €590,000 and €990,000.
- Is VERMANDELE BART profitable?
- In financial year 2025, VERMANDELE BART made a profit of €158,477.
- Where can I find the annual accounts of VERMANDELE BART?
- VERMANDELE BART filed 8 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of VERMANDELE BART due?
- VERMANDELE BART must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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