VERTALON
ActiveSummary
VERTALON is a financial institution. The bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €78,432 and a net result of €6,260. Equity has been growing by about 12% per year since 2018. Its solvency ranks better than 35% of 39,275 sector peers (NACE 70, financial year 2025). The company has been active since 2006 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 05-12-2006 Normal situation
- Activity
- Activities of head offices NACE 70100and 1 other
- Establishment unit
- 2.157.873.579 8700 Tielt, since 11-12-2006
- Financial year end
- 31 December
- Peppol
- Reachable
Financial position
Bankruptcy probability: sector outside the model
Annual accounts 2025
- Gross margin
- €18,250
- ▼ 45.5%
- Turnover
- ≈ €84,000
- estimated
- Profit
- €6,260
- ▼ 64.4%
- Equity
- €78,432
- ▲ 8.7%
- Total assets
- €210,406
- ▲ 11.3%
SignalsneutralLatest accounts filed on timeShow the evidence
Checked score
Score 2025
52
/ 100
Fair▼ -8 on 2024
Without a bankruptcy probability, the score rests on the figures alone.
Financial strength · tick: 2024
Average
Solvency
62-1
equity 37.3% of total assets
Liquidity
30-5
short-term debt 42.8% · cash 0.3%
Profitability
64-16
return on assets 3.0%
Bankruptcy probability within 12 months
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
Credit of up to €4,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.75 (0.65 in 2024), below 1. Short-term debt is 42.8% and cash 0.3% of total assets. 62.7% 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
1 signal.
neutral
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 day early
2024
3 days early
2023
29 days early
2022
25 days early
2021
26 days early
2020
36 days early
2019
32 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 22 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% 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 6 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
03-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 30-07-2026 at the NBB all 19 filings
Turnover
≈ €84,000
Estimated: probably between €42,000 and €170,000
Total assets
€210,406▲ 11.3%
2024 · €189,081
Net result
€6,260▼ 64.4%
2024 · €17,572
Working capital
-€22,695▼ 2.6%
2024 · -€22,111
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€12,189
▼ 53.9%
2025
20182025
Net result
€6,260
▼ 64.4%
2025
middle half of the sector
20182025
Equity
€78,432
▲ 8.7%
2025
middle half of the sector
20182025
Total assets
€210,406
▲ 11.3%
2025
middle half of the sector
20182025
Debt
€131,974
▲ 12.9%
2025
20182025
Working capital
-€22,695
▼ 2.6%
2025
lowest quarter of the sector
20182025
Solvency
37.3%
▼ 0.9pp
2025
middle half of the sector
20182025
Current ratio
0.75
▲ 0.09
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
3.0%
▼ 6.3pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€8,164-€15,388▲ 88.5%€17,714▲ 15.1%€19,279▲ 8.8%€17,261▼ 10.5%-€5,057€26,463€12,189▼ 53.9%
Net result€2,000-€8,392▲ 320%€8,509within the sector's middle half▲ 1.4%€9,934within the sector's middle half▲ 16.7%€6,362within the sector's middle half▼ 36.0%-€9,664below the sector's middle half€17,572within the sector's middle half€6,260within the sector's middle half▼ 64.4%
Equity€31,068-€39,460▲ 27.0%€47,968within the sector's middle half▲ 21.6%€57,902within the sector's middle half▲ 20.7%€64,264within the sector's middle half▲ 11.0%€54,600within the sector's middle half▼ 15.0%€72,172within the sector's middle half▲ 32.2%€78,432within the sector's middle half▲ 8.7%
Total assets€191,501-€180,455▼ 5.8%€184,986within the sector's middle half▲ 2.5%€187,866within the sector's middle half▲ 1.6%€175,434within the sector's middle half▼ 6.6%€166,670within the sector's middle half▼ 5.0%€189,081within the sector's middle half▲ 13.4%€210,406within the sector's middle half▲ 11.3%
Debt€160,433-€140,995▼ 12.1%€137,018▼ 2.8%€129,964▼ 5.1%€111,170▼ 14.5%€112,071▲ 0.8%€116,909▲ 4.3%€131,974▲ 12.9%
Working capital-€27,303--€26,741▲ 2.1%-€21,104below the sector's middle half▲ 21.1%-€18,910below the sector's middle half▲ 10.4%-€17,723below the sector's middle half▲ 6.3%-€33,310below the sector's middle half▼ 87.9%-€22,111below the sector's middle half▲ 33.6%-€22,695below the sector's middle half▼ 2.6%
Solvency16.2%-21.9%▲ 5.6pp25.9%within the sector's middle half▲ 4.1pp30.8%within the sector's middle half▲ 4.9pp36.6%within the sector's middle half▲ 5.8pp32.8%within the sector's middle half▼ 3.9pp38.2%within the sector's middle half▲ 5.4pp37.3%within the sector's middle half▼ 0.9pp
Current ratio0.39-0.29▼ 0.090.48below the sector's middle half▲ 0.180.59below the sector's middle half▲ 0.110.52below the sector's middle half▼ 0.070.31below the sector's middle half▼ 0.210.65below the sector's middle half▲ 0.340.75below the sector's middle half▲ 0.09
Return on assets (ROA)1.0%-4.7%▲ 3.6pp4.6%within the sector's middle half▼ 0.1pp5.3%within the sector's middle half▲ 0.7pp3.6%within the sector's middle half▼ 1.7pp-5.8%below the sector's middle half▼ 9.4pp9.3%within the sector's middle half▲ 15.1pp3.0%within the sector's middle half▼ 6.3pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 2025 is 54% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €210,406
Fixed assets
€143,120 ▼ 2.9%
Current assets
€67,286 ▲ 61.7%
Equity and liabilities €210,406
Equity
€78,432 ▲ 8.7%
Debt
€131,974 ▲ 12.9%
Debt's share of the balance-sheet total rises from 61.8% to 62.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€16,529▼
2024 · €30,803
Cash flow
€10,600▼
2024 · €21,912
Debt to equity
1.68▲
2024 · 1.62
ROE
8.0%▼
2024 · 24.3%
Interest coverage
5.00▼
2024 · 8.46
Debt ≤ 1 year
€89,981▲
2024 · €63,732
Debt > 1 year
€41,993▼
2024 · €53,177
Income taxes
€2,652▼
2024 · €5,250
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Mortgages, amount registered | - | - | - | €175,000 | €175,000 |
| Carrying value of the mortgaged assets | - | - | - | €147,460 | €143,120 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,854 | €4,854 | €5,010 | €5,010 | €4,654 | €4,340 | €4,340 | €4,340 | = |
| Other operating charges640/8 | - | - | - | €1,397 | €2,051 | €1,614 | €2,681 | €1,721 | ▼ 35.8% |
| Gross operating margin9900 | €13,929 | €21,573 | €24,111 | €25,686 | €23,967 | €896 | €33,484 | €18,250 | ▼ 45.5% |
| Operating profit (loss)9901 | €8,164 | €15,388 | €17,714 | €19,279 | €17,261 | -€5,057 | €26,463 | €12,189 | ▼ 53.9% |
| Financial income75/76B | - | - | - | €0 | €8 | €0 | - | €32 | - |
| Recurring financial income75 | - | €375 | - | €0 | €8 | €0 | - | €32 | - |
| Financial charges65/66B | - | - | - | €5,611 | €5,564 | €3,870 | €3,641 | €3,308 | ▼ 9.1% |
| Recurring financial charges65 | €5,599 | €5,036 | €6,105 | €5,611 | €5,564 | €3,870 | €3,641 | €3,308 | ▼ 9.1% |
| Profit (loss) for the period before taxes9903 | €2,565 | €10,728 | €11,609 | €13,667 | €11,704 | -€8,927 | €22,822 | €8,912 | ▼ 60.9% |
| Income taxes67/77 | €565 | €2,336 | €3,100 | €3,734 | €5,342 | €738 | €5,250 | €2,652 | ▼ 49.5% |
| Profit (loss) for the period9904 | €2,000 | €8,392 | €8,509 | €9,934 | €6,362 | -€9,664 | €17,572 | €6,260 | ▼ 64.4% |
| Profit (loss) for the period to be appropriated9905 | €2,000 | €8,392 | €8,509 | €9,934 | €6,362 | -€9,664 | €17,572 | €6,260 | ▼ 64.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €191,501 | €180,455 | €184,986 | €187,866 | €175,434 | €166,670 | €189,081 | €210,406 | ▲ 11.3% |
| Fixed assets21/28 | €174,292 | €169,438 | €165,804 | €160,794 | €156,140 | €151,800 | €147,460 | €143,120 | ▼ 2.9% |
| Tangible fixed assets22/27 | €174,106 | €169,252 | €165,804 | €160,794 | €156,140 | €151,800 | €147,460 | €143,120 | ▼ 2.9% |
| Land and buildings22 | - | - | - | €160,479 | €156,140 | €151,800 | €147,460 | €143,120 | ▼ 2.9% |
| Plant, machinery and equipment23 | - | - | - | €315 | €0 | - | - | - | - |
| Financial fixed assets28 | €186 | €186 | - | - | - | - | - | - | - |
| Current assets29/58 | €17,209 | €11,017 | €19,182 | €27,072 | €19,294 | €14,871 | €41,621 | €67,286 | ▲ 61.7% |
| Amounts receivable within one year40/41 | €11,085 | €8,971 | €17,854 | €26,281 | €18,351 | €14,322 | €41,119 | €66,395 | ▲ 61.5% |
| Trade receivables40 | - | - | - | €26,281 | €16,262 | €11,067 | €2,924 | €1,800 | ▼ 38.4% |
| Other amounts receivable41 | - | - | - | - | €2,088 | €3,256 | €38,196 | €64,595 | ▲ 69.1% |
| Cash at bank and in hand54/58 | €3,061 | €1,778 | €1,015 | €456 | €391 | €139 | €33 | €549 | ▲ 17× |
| Deferred charges and accrued income490/1 | - | - | - | €335 | €553 | €409 | €469 | €342 | ▼ 27.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €191,501 | €180,455 | €184,986 | €187,866 | €175,434 | €166,670 | €189,081 | €210,406 | ▲ 11.3% |
| Equity10/15 | €31,068 | €39,460 | €47,968 | €57,902 | €64,264 | €54,600 | €72,172 | €78,432 | ▲ 8.7% |
| Contributions10/11 | €17,030 | €17,030 | - | €17,030 | €17,030 | €17,030 | €17,030 | €17,030 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €12,178 | €20,570 | €29,078 | €39,012 | €45,374 | €35,710 | €53,282 | €59,542 | ▲ 11.7% |
| Amounts payable17/49 | €160,433 | €140,995 | €137,018 | €129,964 | €111,170 | €112,071 | €116,909 | €131,974 | ▲ 12.9% |
| Amounts payable after more than one year17 | €115,921 | €103,238 | €96,732 | €83,983 | €74,153 | €63,890 | €53,177 | €41,993 | ▼ 21.0% |
| Financial debts170/4 | - | - | - | €83,983 | €74,153 | €63,890 | €53,177 | €41,993 | ▼ 21.0% |
| Amounts payable within one year42/48 | €44,512 | €37,758 | €40,286 | €45,982 | €37,017 | €48,180 | €63,732 | €89,981 | ▲ 41.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €12,511 | €9,830 | €10,262 | €10,713 | €11,184 | ▲ 4.4% |
| Financial debts43 | - | - | - | €3,023 | €0 | - | - | €1,695 | - |
| Other loans439 | - | - | - | €3,023 | €0 | - | - | €1,695 | - |
| Trade debts44 | €589 | €309 | €2,470 | €1,486 | €1,123 | €1,288 | €1,320 | €17,012 | ▲ 13× |
| Suppliers440/4 | - | - | - | €1,486 | €1,123 | €1,288 | €1,320 | €17,012 | ▲ 13× |
| Taxes, remuneration and social security45 | - | - | - | €4,876 | €7,135 | €7,204 | €13,170 | €8,014 | ▼ 39.1% |
| Taxes450/3 | - | - | - | €4,876 | €7,135 | €7,204 | €13,170 | €8,014 | ▼ 39.1% |
| Other amounts payable47/48 | - | - | - | €24,087 | €18,929 | €29,426 | €38,529 | €52,076 | ▲ 35.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,000 | €8,392 | €8,509 | €9,934 | €6,362 | -€9,664 | €17,572 | €6,260 | ▼ 64.4% |
| + Depreciation and write-downs630 | €4,854 | €4,854 | €5,010 | €5,010 | €4,654 | €4,340 | €4,340 | €4,340 | = |
| Operating cash flow (approximation) | €6,854 | €13,245 | €13,519 | €14,944 | €11,017 | -€5,325 | €21,912 | €10,600 | ▼ 51.6% |
| Investment in fixed assets (approximation) | - | €0 | -€1,376 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€1,283 | -€763 | -€559 | -€65 | -€252 | -€106 | €515 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-07-2026 | 2026-00362359 | |
| 31-12-2024 | micro format | 28-07-2025 | 2025-00314905 | |
| 31-12-2023 | micro format | 02-07-2024 | 2024-00204505 | |
| 31-12-2022 | micro format | 06-07-2023 | 2023-00215137 | |
| 31-12-2021 | micro format | 05-07-2022 | 2022-20136546 | |
| 31-12-2020 | micro format | 25-06-2021 | 2021-24500142 | |
| 31-12-2019 | micro format | 29-06-2020 | 2020-22100450 | |
| 31-12-2018 | micro format | 29-08-2019 | 2019-54800576 | |
| 31-12-2017 | micro format | 06-07-2018 | 2018-30100592 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-56400276 |
Board & ownership
Directors
Directors
2 directors, last change in 2026
Charlotte Verschuere
Current
Director (not named in the articles) · appointed in the act of 05-10-2026 · earlier manager and director, until 05-10-2026 · listed in the 2025 annual accounts, filed on 30-07-2026
Nico Tack
Current
Director (not named in the articles) · appointed in the act of 05-10-2026 · earlier manager and director, until 05-10-2026 · listed in the 2025 annual accounts, filed on 30-07-2026
Owners and capital
Capital transactions
Capital over time
- 05-10-2026 Converted to unavailable equity
Mandate history
2 people, 2 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Charlotte Verschuere |
|
| Nico Tack |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Bevoegdheden van het bestuursorgaan, 12”“13”“Één of meer bestuurders,natuurlijke personen of rechtspersonen,al dan niet aandeelhouder, algemene vergadering mag vaste of veranderlijke…”
Articles of association, deed of 05-10-2026 (in Dutch)
Network & group
VERTALON shares no director with another company.
Connections & network
2 current directorsThe network starts from the directors of VERTALON. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
05-10
Gazette deed
Changes of role: Nico Tack (director) and Charlotte Verschuere (director)Registered office clause · Capital conversion · Reserve release12 points ▸
Gazette deed
Changes of role: Nico Tack (director) and Charlotte Verschuere (director)
Registered office clause · Capital conversion · Reserve release12 points ▸
- Director resignation, Nico Tack (manager and director)
- Director resignation, Charlotte Verschuere (manager and director)
- Director appointment, Nico Tack (director (not named in the articles))
- Director appointment, Charlotte Verschuere (director (not named in the articles))
- Registered office clause, “8710 Wielsbeke, Wakkensteenweg 152” (deed in Dutch)
- General meeting, “eenparigheid van stemmen, buitengewone algemene vergadering” (deed in Dutch)
- Other provision, “kwijtschelding niet-volgestorte gedeelte kapitaal, Tweede besluit” (deed in Dutch)
- Other provision, “liquiditeitstest en verslag artikel 5:143 WVV, na uitkering of kwijtschelding in staat schulden te voldoen naarmate opeisbaar over ten minste twaalf maanden van…” (deed in Dutch)
- Other provision, “aanpassing statuten aan Wetboek van vennootschappen en verenigingen, behoud rechtsvorm besloten vennootschap(BV)” (deed in Dutch)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “overeenkomstig vormen en meerderheden statutenwijziging, opheffing statutair onbeschikbare eigen vermogensrekening en beschikbaar maken voor uitkering” (deed in Dutch)
- Amendment of the articles
30-07
micro format · 1 day before the deadline
2025
28-07
micro format · 3 days before the deadline
2024
31-12
Financial
Back to profitnet €17,572
The net result is €17,572, after one loss-making year.
02-07
micro format · 29 days before the deadline
2023
31-12
Financial
Weakest financial yearnet -€9,664
The net result drops to -€9,664, the lowest from 2018 to 2025. It recovers the following year.
06-07
micro format · 25 days before the deadline
2022
05-07
micro format · 26 days before the deadline
2021
25-06
micro format · 36 days before the deadline
2020
29-06
micro format · 32 days before the deadline
2019
29-08
micro format · 29 days late
2018
06-07
micro format · 25 days before the deadline
2017
31-08
micro format · 31 days late
2006
13-12
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
VERTALON in Dutch
Enterprise number
0885.430.747
Legal form
Private limited company
Status
Active, normale toestand
Founded
05-12-2006
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 05-10-2026 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Bij enkel besluit bestuursorgaan administratieve zetels,exploitatiezetels,agentschappen,werkhuizen,stapelplaatsen,bijkantoren in België of…”
deed of 05-10-2026 (in Dutch)Registered office and establishments
Registered office
Wakkensteenweg(S.B.V.) 152, 8710 Wielsbeke, Belgium
Establishment unit
VERTALON, Galgenveldstraat 29, 8700 Tielt since 11-12-2006 · unit number 2.157.873.57968201 Renting and operating of own or leased residential real estate, excluding social housing
Activities
NACEBEL 202570100
Activities of head offices main activity
68201
Renting and operating of own or leased residential real estate, excluding social housing
Invoicing and payment
VAT number
BE 0885.430.747
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Financial yearThe company draws up its annual accounts over this twelve-month period.
From 1 October to 30 September
deed of 05-10-2026 (in Dutch)Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Last Thursday of March
deed of 05-10-2026 (in Dutch)Sites & property
Location
Buildings and parcels at the addresses
Ground area
1,705 m²
Building footprint
372 m²
Building volume
1,861 m³
Tallest building: 7.7 m.
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 37014B0410/00V000 | Flanders | 1,042 m² | 1 · 171 m² | 6.3 m · 2 |
| 37302E0525/00T000 | Flanders | 663 m² | 1 · 201 m² | 7.7 m · 1 |