VERO DUCO
ActiveVERO DUCO has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €192.75M and a net result of €24.37M. Equity is growing by ~13.2% per year across the filed fiscal years. Its solvency ranks better than 93% of 670 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
84
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability88▼-2
Solvency100=
Growth74=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2M at 30 days acceptable
Liquidity ample (current ratio 19.85 against 18.93 in 2024; short-term debt: 4.5% and cash: 6% of total assets), and 12.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
87.1%
Return on assets
11%
Age of the figures
9 mo
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 25
Relative position
BE, all sectors
reference
Sector 25
higher
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
109 d late
2023
30 d late
2022
50 d late
2021
31 d late
2020
40 d late
2019
52 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
€91.06M▲ 7.6%
2024 · €84.59M
2018: €46.78M
2019: €50.25M
2020: €50.56M
2021: €62.13M
2022: €82.29M
2023: €87.24M
2024: €84.59M
2018 → 2025
EBIT margin
27.7%▼ 2.0pp
2024 · 29.6%
2018: 32.1%
2019: 30.2%
2020: 29.2%
2021: 31.2%
2022: 28.7%
2023: 32.0%
2024: 29.6%
2018 → 2025
Net result
€24.37M▼ 2.3%
2024 · €24.95M
2018: €16.92M
2019: €14.13M
2020: €13.00M
2021: €16.93M
2022: €20.22M
2023: €26.10M
2024: €24.95M
2018 → 2025
Working capital
€185.68M▲ 10.9%
2024 · €167.40M
2018: €78.08M
2019: €73.08M
2020: €86.24M
2021: €98.17M
2022: €119.43M
2023: €142.93M
2024: €167.40M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€62.13M-€82.29M▲ 32.5%€87.24M▲ 6.0%€84.59M▼ 3.0%€91.06M▲ 7.6%
Equity€113.17M-€130.13M▲ 15.0%€152.48M▲ 17.2%€172.63M▲ 13.2%€192.75M▲ 11.7%
Operating result€19.36M-€23.63M▲ 22.1%€27.92M▲ 18.1%€25.06M▼ 10.2%€25.18M▲ 0.5%
Net result€16.93M-€20.22M▲ 19.4%€26.10M▲ 29.1%€24.95M▼ 4.4%€24.37M▼ 2.3%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 0% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €221.18M
Fixed assets
€25.64M▲ 13.9%
Current assets
€195.53M▲ 10.6%
Equity and liabilities €221.18M
Equity
€192.75M▲ 11.7%
Debt
€28.43M▲ 6.8%
The debt ratio falls from 13.4% to 12.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€29.88M▲
2024 · €29.79M
Cash flow
€29.07M▼
2024 · €29.67M
Solvency
87.1%▲
2024 · 86.6%
Current ratio
19.85▲
2024 · 18.93
Quick ratio
18.58▲
2024 · 17.63
Debt / equity
0.15▼
2024 · 0.15
ROE
12.6%▼
2024 · 14.5%
ROA
11.0%▼
2024 · 12.5%
Interest coverage
23.41▼
2024 · 37.84
Debt
€28.43M▲
2024 · €26.62M
Debt ≤ 1 year
€9.85M▲
2024 · €9.34M
Debt > 1 year
€18.41M▲
2024 · €17.28M
Income taxes
€3.99M▲
2024 · €3.89M
Staff costs
€15.15M▲
2024 · €13.96M
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€199.25M€221.18M▲
Fixed assets21/28€22.52M€25.64M▲
Intangible fixed assets21€1.25M€797k▼
Tangible fixed assets22/27€21.18M€24.76M▲
Land and buildings22€14.85M€17.06M▲
Plant, machinery and equipment23€3.56M€3.34M▼
Furniture and vehicles24€2.78M€2.51M▼
Assets under construction and advance payments27-€1.84M
Financial fixed assets28€80k€89k▲
Other financial fixed assets284/8€80k€89k▲
Amounts receivable and cash guarantees285/8€80k€89k▲
Current assets29/58€176.74M€195.53M▲
Amounts receivable after more than one year29€3.09M€500k▼
Other amounts receivable291€3.09M€500k▼
Stocks and contracts in progress3€12.15M€12.51M▲
Stocks30/36€12.15M€12.51M▲
Raw materials and consumables30/31€10.97M€11.56M▲
Finished goods33€1.18M€945k▼
Amounts receivable within one year40/41€8.79M€9.73M▲
Trade receivables40€5.18M€5.11M▼
Other amounts receivable41€3.62M€4.62M▲
Current investments50/53€149.14M€159.05M▲
Other investments51/53€149.14M€159.05M▲
Cash at bank and in hand54/58€3.26M€13.16M▲
Deferred charges and accrued income490/1€299k€594k▲
Equity and liabilities
Total equity and liabilities10/49€199.25M€221.18M▲
Equity10/15€172.63M€192.75M▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€38.75M€39.75M▲
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Tax-exempt reserves132€30.64M€29.64M▼
Distributable reserves133€8.10M€10.10M▲
Profit (loss) carried forward14€133.82M€152.94M▲
Investment grants15€2k€1k▼
Provisions and deferred taxes16€0-
Provisions for liabilities and charges160/5€0-
Other liabilities and charges164/5€0-
Amounts payable17/49€26.62M€28.43M▲
Amounts payable after more than one year17€17.28M€18.41M▲
Financial debts170/4€17.28M€18.41M▲
Other loans174€17.28M€18.41M▲
Amounts payable within one year42/48€9.34M€9.85M▲
Trade debts44€3.15M€3.67M▲
Suppliers440/4€3.15M€3.67M▲
Taxes, remuneration and social security45€1.41M€1.93M▲
Taxes450/3€212k€652k▲
Remuneration and social security454/9€1.19M€1.28M▲
Other amounts payable47/48€4.79M€4.25M▼
Accrued charges and deferred income492/3€730€172k▲
Income statement
Code20242025
Operating income70/76A€86.46M€92.41M▲
Turnover70€84.59M€91.06M▲
Change in stocks of work in progress, finished goods and contracts in progress71€355k€-261k▼
Other operating income74€1.44M€1.60M▲
Non-recurring operating income76A€71k€13k▼
Operating charges60/66A€61.39M€67.23M▲
Goods for resale, raw materials and consumables60€30.00M€32.78M▲
Purchases600/8€25.21M€33.27M▲
Change in stocks: decrease (increase)609€4.78M€-490k▼
Services and other goods61€12.34M€14.42M▲
Remuneration, social security and pensions62€13.96M€15.15M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4.72M€4.70M▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-105k€-130k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€-751k€0▲
Other operating charges640/8€274k€282k▲
Non-recurring operating charges66A€965k€22k▼
Operating profit (loss)9901€25.06M€25.18M▲
Financial income75/76B€5.56M€5.26M▼
Recurring financial income75€5.56M€5.26M▼
Income from current assets751€4.96M€4.61M▼
Other financial income752/9€597k€650k▲
Non-recurring financial income76B€0-
Financial charges65/66B€1.79M€2.08M▲
Recurring financial charges65€1.79M€2.08M▲
Debt charges650€787k€1.28M▲
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651€177k€-172k▼
Other financial charges652/9€822k€971k▲
Profit (loss) for the period before taxes9903€28.84M€28.36M▼
Income taxes67/77€3.89M€3.99M▲
Taxes670/3€3.89M€3.99M▲
Tax adjustments and reversals of tax provisions77€0-
Profit (loss) for the period9904€24.95M€24.37M▼
Transfer from tax-exempt reserves789€2.00M€2.00M=
Transfer to tax-exempt reserves689€1.00M€1.00M=
Profit (loss) for the period to be appropriated9905€25.95M€25.37M▼
Appropriation of the result
Profit (loss) to be appropriated9906€140.61M€159.19M▲
Profit (loss) brought forward from the previous period14P€114.66M€133.82M▲
Transfer to equity691/2€2.00M€2.00M=
To other reserves6921€2.00M€2.00M=
Profit to be distributed694/7€4.79M€4.25M▼
Directors or managers695€4.79M€4.25M▼
Social balance
Average headcount (FTE)9087165.0178.3▲
The notes to these accounts (105 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
17-11
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 109 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 30 days late
2023
31-12
Financial
Highest result since 2018net €26.10M ▲29.1%
Operating result €27.92M, net result €26.10M, both a record.
19-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 50 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
09-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 40 days late
2020
31-12
Financial
Weakest financial yearnet €13.00M ▼8%
Net result drops to €13.00M, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €100MEq €101.54M ▲10.3%
3 profitable years in a row build equity to €101.54M.
21-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 52 days late
2019
19-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 19 days late
2018
03-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 34 days late
2017
28-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 59 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
15 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, Veurne · 1 establishment unit since 1996
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.
Handelsstraat 198630 VeurneGround area
3.0 ha
Building footprint
3.0 ha
Parcel 38024A0145/00C000, Flanders. Linked by address, not a title deed.
1 establishment unit
VERO DUCO
since 19962.075.348.553
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38024A0145/00C000 | Flanders | 3.0 ha | 1 · 3.0 ha | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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
Group per the LEI register
1 parent companyParent company:O2 Holding
Public money · subsidies and aid
Flemish government
2022 to 2025 · 10 entries · 2,559,876 EUR awarded · 1,456,953 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 616,990 EUR | 405,000 EUR |
| 2024 | 2 | 918,599 EUR | 513,200 EUR |
| 2023 | 3 | 5,794 EUR | 277,939 EUR |
| 2022 | 3 | 1,018,493 EUR | 260,814 EUR |
Schemes
Onderzoeksproject
Subsidies bevordering duurzaam woon-werkverkeer ikv Pendelfonds
Ecologiepremie+
Vlaams opleidingsverlof (VOV)
Recognitions · licences · registrations
Legal Entity Identifier
2549009EPM8DXG46AO36
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Of 557 companies in sector 25999 we hold annual accounts for 350. 12 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded02-01-1996
Fiscal year end31-12
Activities, NACEBEL
25999Manufacture of fabricated metal products, except machinery and equipment
Sources
Crossroads Bank for EnterprisesNational Bank · 28 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.