VERSACO
ActiveSummary
VERSACO has been active since 1991 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.4m and a net result of €49,573. Equity remains stable across the filed financial years (±1.5% per year). Its solvency ranks better than 90% of 11,192 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
- Equity
- €3.4m
- Profit
- €49,573
- Parent
- Plasticor · 60%
- Board
- 5 members
- Christophe SoréeChair
- Jos VeraartManaging director
Why 97lowers riskSize: total assets €3.7mFigures for financial year 2025 (filed 12-06-2026)Founded in 1991Liquidity: current ratio 22.03, cash €420,016Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 68, small): better than 92% on solvency, 90% on liquidity, 73% on profitability and 51% on growth.
The bankruptcy probability was computed on 26-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 65 days before the deadline; the sector median (NACE 68) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- Reappointment: Frank Verellen (director)Permanent representative: Smet Michael
- Annual accounts filedfinancial year 2025 · abbreviated…
- Annual accounts filedfinancial year 2024 · abbreviated…
Financials · financial year 2025, abbreviated format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result has risen four years in a row; 2025 is 5% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Peer companies
Historical observationOf the 14,766 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96.1% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of < 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 14,766 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €1,000 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €185,013 | €115,572 | €120,570 | €155,719 | €153,572 | €152,340 | €159,373 | €168,390 | ▲ 5.7% |
| Other operating charges640/8 | - | - | - | €39,331 | €29,856 | €34,344 | €35,580 | €36,695 | ▲ 3.1% |
| Gross operating margin9900 | -€32,803 | €806,387 | €271,688 | €181,181 | €212,508 | €230,898 | €241,326 | €253,763 | ▲ 5.2% |
| Operating profit (loss)9901 | -€280,956 | €543,251 | €62,818 | -€13,870 | €29,080 | €44,214 | €46,374 | €48,678 | ▲ 5.0% |
| Financial income75/76B | - | - | - | €99,942 | €608 | €48 | €2,338 | €1,221 | ▼ 47.8% |
| Recurring financial income75 | €0 | €1 | €0 | €1,331 | €608 | €48 | €2,338 | €1,221 | ▼ 47.8% |
| Non-recurring financial income76B | - | - | - | €98,611 | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €248 | €222 | €255 | €256 | €325 | ▲ 27.0% |
| Recurring financial charges65 | €117 | €26 | €388 | €248 | €222 | €255 | €256 | €325 | ▲ 27.0% |
| Profit (loss) for the period before taxes9903 | -€281,073 | €543,227 | €62,430 | €85,825 | €29,467 | €44,007 | €48,455 | €49,574 | ▲ 2.3% |
| Income taxes67/77 | €11,659 | €173,438 | - | - | - | - | - | €1 | - |
| Profit (loss) for the period9904 | -€285,930 | €513,142 | €62,430 | €85,825 | €29,467 | €44,007 | €48,455 | €49,573 | ▲ 2.3% |
| Profit (loss) for the period to be appropriated9905 | -€272,721 | €791,539 | €62,430 | €85,825 | €29,467 | €44,007 | €48,455 | €49,573 | ▲ 2.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €4.4m | €4.8m | €3.1m | €3.6m | €3.6m | €3.7m | €3.7m | €3.7m | ▲ 1.0% |
| Fixed assets21/28 | €4.1m | €2.1m | €2.7m | €3.2m | €3.2m | €3.2m | €3.1m | €3.2m | ▲ 2.1% |
| Tangible fixed assets22/27 | €4.1m | €2.1m | €2.7m | €3.2m | €3.2m | €3.2m | €3.1m | €3.2m | ▲ 2.1% |
| Land and buildings22 | - | - | - | €3.1m | €3.2m | €3.1m | €3.1m | €3.2m | ▲ 4.2% |
| Furniture and vehicles24 | - | - | - | €0.008m | €0.001m | €0 | - | - | - |
| Assets under construction and advance payments27 | - | - | - | - | - | €0.02m | €0.06m | €0 | ▼ 100% |
| Financial fixed assets28 | - | - | - | - | - | €475 | €0 | - | - |
| Current assets29/58 | €0.3m | €2.6m | €0.4m | €0.4m | €0.4m | €0.5m | €0.6m | €0.5m | ▼ 5.1% |
| Amounts receivable within one year40/41 | €0.06m | €0.3m | €0.05m | €0.02m | €0.001m | €0.1m | €0.1m | €0.1m | ▲ 1.3% |
| Trade receivables40 | - | - | - | €0.02m | €0.001m | €0.003m | €6 | €13 | ▲ 108% |
| Other amounts receivable41 | - | - | - | €428 | - | €0.1m | €0.1m | €0.1m | ▲ 1.3% |
| Cash at bank and in hand54/58 | €0.2m | €2.4m | €0.3m | €0.4m | €0.4m | €0.4m | €0.5m | €0.4m | ▼ 6.9% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.002m | €0.02m | €116 | €0.001m | ▲ 447% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €4.4m | €4.8m | €3.1m | €3.6m | €3.6m | €3.7m | €3.7m | €3.7m | ▲ 1.0% |
| Equity10/15 | €4.2m | €2.4m | €3.1m | €3.2m | €3.2m | €3.3m | €3.3m | €3.4m | ▲ 1.5% |
| Contributions10/11 | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | = |
| Capital10 | - | - | - | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | = |
| Issued capital100 | - | - | - | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | = |
| Revaluation surpluses12 | - | - | - | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | = |
| Reserves13 | €2.9m | €0.2m | €0.2m | €0.2m | €0.2m | €1.2m | €1.2m | €1.3m | ▲ 4.0% |
| Non-distributable reserves130/1 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Legal reserve130 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Distributable reserves133 | - | - | - | €0.06m | €0.06m | €1.0m | €1.1m | €1.1m | ▲ 4.5% |
| Profit (loss) carried forward14 | €0.001m | €0.8m | €0.9m | €0.9m | €1.0m | €0.04m | €0.05m | €0.05m | ▲ 2.3% |
| Provisions and deferred taxes16 | €0.1m | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €0.005m | €2.4m | €0.04m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 2.9% |
| Amounts payable after more than one year17 | - | €0.005m | €0.01m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 0.3% |
| Other amounts payable178/9 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 0.3% |
| Amounts payable within one year42/48 | €0.003m | €2.4m | €0.03m | €0.05m | €0.04m | €0.04m | €0.04m | €0.02m | ▼ 33.7% |
| Trade debts44 | €0.003m | €0.01m | €0.01m | €0.04m | €0.005m | €0.02m | €0.005m | €0.006m | ▲ 20.7% |
| Suppliers440/4 | - | - | - | €0.04m | €0.005m | €0.02m | €0.005m | €0.006m | ▲ 20.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.006m | €0.02m | €0.01m | €0.02m | €0.01m | ▼ 37.9% |
| Taxes450/3 | - | - | - | €0.006m | €0.02m | €0.01m | €0.02m | €0.01m | ▼ 37.9% |
| Other amounts payable47/48 | - | - | - | €0.001m | €0.02m | €0.01m | €0.01m | €0.005m | ▼ 51.4% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €177 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.3m | €0.5m | €0.06m | €0.09m | €0.03m | €0.04m | €0.05m | €0.05m | ▲ 2.3% |
| + Depreciation and write-downs630 | €0.2m | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 5.7% |
| Operating cash flow (approximation) | -€0.1m | €0.6m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 4.9% |
| Investment in fixed assets (approximation) | - | €1.8m | -€0.7m | -€0.6m | -€0.2m | -€0.1m | -€0.1m | -€0.2m | ▼ 73.1% |
| Change in cash | - | €2.1m | -€2.0m | €0.06m | €406 | -€0.03m | €0.07m | -€0.03m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 35 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 12-06-2026 | 2026-00155971 |
| 31-12-2024 | abbreviated format | 08-04-2025 | 2025-00065230 |
| 31-12-2023 | abbreviated format | 17-06-2024 | 2024-00133381 |
| 31-12-2022 | micro format | 12-06-2023 | 2023-00118111 |
| 31-12-2021 | micro format | 13-06-2022 | 2022-20062970 |
| 31-12-2020 | micro format | 15-06-2021 | 2021-19700097 |
| 31-12-2019 | micro format | 16-04-2020 | 2020-09200414 |
| 31-12-2018 | micro format | 24-06-2019 | 2019-24200018 |
| 31-12-2017 | micro format | 27-06-2018 | 2018-23500439 |
| 31-12-2016 | abbreviated format | 12-07-2017 | 2017-30700081 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 5
Day-to-day management 1
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Ann Verellen |
|
| Christophe Sorée |
|
| Frank Sorée |
|
| Frank Verellen |
|
| Jos Veraart |
|
Owners and capital
Owners
2 ownersChain of control
- Plasticor
- VERSACO
Highest known parent: Plasticor. The sources do not say who stands above it.
Owners 2
- PlasticorparentSourceaccounts Plasticor 202560%
-
40%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
- 28-02-2024 Capital stated in the deed · €1,369,160 · 70 shares
Group and network
Connections & network
5 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
30-06
Gazette deed
Reappointment: Frank Verellen (director)Permanent representative: Smet Michael4 facts ▸
- General meeting, 12-05-2026
- Director reappointment, Frank Verellen (director)
- Permanent representative, Smet Michael
- Director in office, Credix BV (director)
30-07
Gazette deed
Resignations: Ann Verellen, Frank Verellen and 2 othersAppointments: Ann Verellen, Jos Veraart and 3 others · Reappointment: Jos Veraart (managing director)14 facts ▸
- General meeting, 14-06-2024
- Director resignation, Ann Verellen (director)
- Director resignation, Frank Verellen (director)
- Director resignation, Christophe Sorée (director)
- Director resignation, Jos Veraart (director)
- Director appointment, Ann Verellen (director)
- Director appointment, Jos Veraart (director)
- Director appointment, Christophe Sorée (director)
- Director appointment, Frank Sorée (director)
- Director appointment, Frank Verellen (director)
- Other provision, “vergoeding bestuursmandaten, éénparig” (deed in Dutch)
- Board meeting, 14-06-2024
- +2 further facts in this act
28-02
Gazette deed
Amendment of the articles · Resignations & appointmentsCapital4 facts ▸
- Amendment of the articles (2 times)
- Other provision, “virtuele algemene vergadering en schriftelijke vergadering, mogelijk maken” (deed in Dutch)
- Other provision, “uitkering van een interimdividend, mogelijk maken” (deed in Dutch)
- Capital, €1,369,160
28-07
Gazette deed
Resignation: Erik Verellen (director)2 facts ▸
- General meeting, 09-06-2023
- Director resignation, Erik Verellen (director)
Show earlier events
About the unread acts
Of the 9 Belgian Official Gazette deeds we know for this company, 4 have been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 27 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11682G0417/00B002 | Flanders | 9,611 m² | 1 · 7,747 m² | 12.7 m · 2 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Het bouwen en exploiteren, verhuren, leasen van fabrieken, burelen en/of magazijnen voor eigen rekening of voor rekening van derden; Het…” (deed in Dutch)
11 activities (deed in Dutch)
- Het bouwen en exploiteren, verhuren, leasen van fabrieken, burelen en/of magazijnen voor eigen rekening of voor rekening van derden;
- Het verwerven van participaties in om het even welke, al dan niet Belgische ondernemingen, teneinde haar vermogen te beleggen en/of derde ondernemingen, waarin zij participeert bij te staan in de bedrijfsvoering op commercieel, administratief, industrieel, financieel en technisch gebied.
- Aldus kan de vennootschap ondernemingen, waarin zij participeert, mede besturen en toezicht uitoefenen op de bedrijfsvoering teneinde de ontwikkeling en de realisatie van het maatschappelijk voorwerp van deze ondernemingen te stimuleren en te coördineren.
- Zij kan de participaties verwerven door aankoop of enige andere rechtsgeldige wijze van verwerving.
- Anderzijds kan de vennootschap zelfs zonder enige participatie in het maatschappelijk kapitaal, financiële, administratieve en consultatieve bijstand verlenen aan ondernemingen en personen, inclusief het verlenen van voorschotten, overname van vorderingen, intekenen op obligaties, waarborgverstrekking, verlenen van managementadvies en aanverwante verrichtingen.
- Zij kan met het oog op de realisatie van haar maatschappelijk voorwerp alle commerciële, industriële, technische, financiële, roerende en onroerende verrichtingen stellen die zij noodzakelijk, nuttig of aangewezen acht, zowel direct als indirect.
- De vennootschap mag alle roerende of onroerende goederen, materialen en benodigdheden, verwerven, huren of verhuren, vervaardigen, overdragen of ruilen, en in het algemeen alle commerciële, industriële of financiële handelingen verrichten die rechtstreeks of onrechtstreeks in verband staan met haar maatschappelijk voorwerp, met inbegrip van de onderaanneming in het algemeen, en de uitbating van alle intellectuele rechten en industriële of commerciële eigendommen die er op betrekking hebben.
- Zij mag alle roerende en onroerende goederen als investering verwerven, zelfs als deze noch rechtstreeks noch onrechtstreeks verband houden met het maatschappelijk voorwerp van de vennootschap.
- De vennootschap mag het bestuur en de vereffening waarnemen in alle verbonden vennootschappen, met dewelke een of andere band van deelneming bestaat en mag alle leningen van gelijk welke vorm en voor gelijk welke duur, aan deze laatsten toestaan of persoonlijke en zakelijke zekerheden verstrekken voor deze vennootschappen.
- Zij mag bij wijze van inbreng in kontanten of in natura, van fusie, inschrijving, deelneming, financiële tussenkomst of op een andere wijze, een aandeel nemen in alle bestaande of op te richten vennootschappen, zowel in binnen als buitenland, waarvan het voorwerp identiek, gelijkaardig of verwant is met het hare of van aard de uitoefening van haar maatschappelijk voorwerp te bevorderen.
- Dit alles in de meest ruime zin genomen.
- Name clauseThe name the company operates under according to its articles.
- VERSACO
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “De gedelegeerden voor het dagelijks bestuur kunnen in het kader van dat bestuur bijzondere volmachten verlenen aan iedere lasthebber. De…”deed of 28-02-2024
- Board ruleHow the board is made up, meets and takes decisions.
- “Alle bestuursmandaten, éénparig” (deed in Dutch)deed of 30-06-2026
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Second Friday of June at 10:00
Oversight and winding up
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Wijze van vereffening, netto-actief in geld of effecten onder aandeelhouders naar verhouding aantal aandelen” (deed in Dutch)