Equity
Vertec paid out €180,000 in dividends in a year with a loss of €93,246.
Vertec paid out €180,000 in dividends in a year with a loss of €93,246.
The result fell in 2025 from -€23,374 to -€93,246.
Debts rose by €314,367 in 2025. A dividend stands under other debts on the balance sheet date until it is paid.
Green is investment, beige is depreciation.
Short-term debts rose from €137,795 to €441,524.
Lower net result than 95% of companies in wholesale trade. Sector median €5,626 · 13,803 companies.
The dashed line is the sector median: 0.4% across 26,892 companies (NACE 46, micro).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 46, micro). It does better than 39% of them on solvency, 28% on liquidity, 15% on profitability and 10% on growth.
The bankruptcy probability was computed on 07-11-2026 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 low class on 30-06-2025, 0.8% 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).
In July 2024, 1,133 companies had the same profile as Vertec has now. Each dot stands for 3 companies, two years later.
Another 0.5% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Vertec itself is lower: 0.6% within 12 months. It rests on far more data about Vertec than the profile alone.
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 1,133 companies, not a prediction for Vertec. 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.
Liquidity is insufficient, with a current ratio of 0.96 (3.28 in 2024), below 1. Short-term debt is 49.3% and cash 4.4% of total assets. 71% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 1 day before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| Vertec Brecht | €0.9m | €112,238 | 29.0% | - |
| APIR Invest Grez-Doiceau | €0.8m | €99,023 | 6.6% | - |
| Mutandis Staden | €0.8m | €143,750 | 63.2% | - |
| Golden Cars Belgium Lier | €0.8m | €182,640 | 2.1% | - |
| GNC-invest Schoten | €1.0m | €75,128 | 26.8% | - |
| DENVA Merchtem | €0.6m | €133,708 | 21.1% | - |
| DINALI TRADE Forest | €1.1m | €108,227 | 15.4% | - |
These companies have the same main activity as Vertec: agents specialised in the wholesale of other particular products (NACE 46180). They are comparable in size and age: total assets between €649,000 and €1.1m, founded between 2017 and 2020.
Vertec files the micro format. That format states no turnover. The gross margin rose from €98,868 in 2019 to €112,238 in 2025.
The balance sheet grew most from 2021 to 2023 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €420,000. Estimated: probably between €200,000 and €1.0m.
Higher than 41% of 13,797 companies in 2025.
Higher than 26% of 13,178 companies in 2025.
Higher than 16% of 13,357 companies in 2025.
Net result: bottom quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: bottom quarter
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||
20/58 |
894,759 | 853,638 | 944,797 | 855,462 | 627,002 | 265,803 | 256,526 | |
21/28 |
469,653 | 401,494 | 456,571 | 247,411 | 257,146 | 50,216 | 54,336 | |
21 |
19,010 | - | - | - | - | - | - | |
22/27 |
450,643 | 401,494 | 456,571 | 247,411 | 257,146 | 50,216 | 54,336 | |
22 |
385,015 | 388,020 | 395,614 | 221,735 | 220,605 | - | - | |
23 |
3,228 | 3,468 | 1,630 | - | - | - | - | |
24 |
37,520 | 5,592 | 54,141 | 19,721 | 29,813 | 42,717 | 54,336 | |
26 |
24,880 | 4,414 | 5,185 | 5,956 | 6,727 | 7,498 | - | |
29/58 |
425,106 | 452,145 | 488,227 | 608,050 | 369,856 | 215,588 | 202,190 | |
29 |
221,931 | 221,931 | 221,931 | 50,000 | 50,000 | - | - | |
291 |
221,931 | 221,931 | 221,931 | 50,000 | 50,000 | - | - | |
40/41 |
129,187 | 59,150 | 203,468 | 68,156 | 274,729 | 185,821 | 191,760 | |
40 |
114,697 | 57,046 | 201,707 | 55,975 | 205,940 | 156,858 | 159,390 | |
41 |
14,491 | 2,104 | 1,761 | 12,181 | 68,789 | 28,963 | 32,370 | |
54/58 |
39,191 | 148,560 | 50,252 | 485,814 | 42,236 | 26,152 | 9,330 | |
490/1 |
34,798 | 22,505 | 12,576 | 4,080 | 2,892 | 3,615 | 1,100 | |
| Balance sheet: equity and liabilities | ||||||||
10/49 |
894,759 | 853,638 | 944,797 | 855,462 | 627,002 | 265,803 | 256,526 | |
10/15 |
259,172 | 532,419 | 555,793 | 463,335 | 150,662 | 71,633 | 69,006 | |
10/11 |
5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | - | |
11 |
- | - | - | - | - | - | 5,000 | |
1100/10 |
- | - | - | - | - | - | 5,000 | |
13 |
370,793 | 550,793 | 550,793 | 458,335 | 145,662 | 66,633 | 64,006 | |
133 |
370,793 | 550,793 | 550,793 | 458,335 | 145,662 | 66,633 | 64,006 | |
14 |
-116,621 | -23,374 | - | - | - | - | - | |
17/49 |
635,587 | 321,220 | 389,004 | 392,126 | 476,340 | 194,170 | 187,520 | |
17 |
194,062 | 183,425 | 206,407 | 182,256 | 13,864 | 28,832 | - | |
170/4 |
194,062 | 183,425 | 206,407 | 182,256 | 13,864 | 28,832 | - | |
42/48 |
441,524 | 137,795 | 182,597 | 209,870 | 462,477 | 165,287 | 187,520 | |
42 |
46,897 | 22,983 | 62,369 | 126,467 | 14,968 | 32,590 | - | |
44 |
64,289 | 15,817 | 34,499 | 31,982 | 407,259 | 68,500 | 127,097 | |
440/4 |
64,289 | 15,817 | 34,499 | 31,982 | 407,259 | 68,500 | 127,097 | |
45 |
51,571 | 27,968 | 41,718 | 41,421 | - | 64,197 | 60,424 | |
450/3 |
45,826 | 21,240 | 38,343 | 41,421 | - | 64,197 | 60,424 | |
454/9 |
5,745 | 6,728 | 3,375 | - | - | - | - | |
47/48 |
278,767 | 71,027 | 44,011 | 10,000 | 40,250 | - | - | |
492/3 |
- | - | - | - | - | 51 | - | |
| Income statement | ||||||||
76A |
- | 12,166 | 35,180 | - | - | - | - | |
9900 |
112,238 | 95,824 | 255,833 | 504,094 | 126,684 | 25,707 | 98,868 | |
62 |
110,381 | 58,882 | 27,242 | - | - | - | - | |
630 |
21,941 | 27,481 | 21,280 | 25,069 | 14,599 | 12,999 | 9,589 | |
640/8 |
11,486 | 2,103 | 36,227 | 893 | 1,185 | 1,655 | 348 | |
66A |
169 | - | - | - | - | 6,900 | - | |
9901 |
-31,739 | 7,358 | 171,084 | 478,132 | 110,901 | 4,152 | 88,932 | |
75/76B |
12,653 | 15,049 | 11,108 | 1,564 | 563 | 349 | - | |
75 |
12,653 | 15,049 | 11,108 | 1,564 | 563 | 349 | - | |
65/66B |
73,505 | 46,302 | 46,406 | 26,206 | 1,189 | 816 | 287 | |
65 |
73,505 | 46,302 | 46,406 | 26,206 | 1,189 | 816 | 287 | |
9903 |
-92,591 | -23,895 | 135,785 | 453,490 | 110,275 | 3,686 | 88,645 | |
67/77 |
655 | -521 | 40,728 | 140,816 | 31,247 | 1,059 | 24,639 | |
9904 |
-93,246 | -23,374 | 95,057 | 312,674 | 79,029 | 2,627 | 64,006 | |
9905 |
-93,246 | -23,374 | 95,057 | 312,674 | 79,029 | 2,627 | 64,006 | |
| Appropriation of the result | ||||||||
9906 |
-116,621 | -23,374 | 95,057 | 312,674 | 79,029 | 2,627 | 64,006 | |
14P |
-23,374 | - | - | - | - | - | - | |
791/2 |
180,000 | - | - | - | - | - | - | |
691/2 |
- | - | 92,457 | 312,674 | 79,029 | 2,627 | 64,006 | |
6921 |
- | - | 92,457 | 312,674 | 79,029 | 2,627 | 64,006 | |
694/7 |
180,000 | - | 2,600 | - | - | - | - | |
694 |
180,000 | - | - | - | - | - | - | |
696 |
- | - | 2,600 | - | - | - | - | |
| Social balance sheet | ||||||||
9087 |
1.2 | 1 | 0.6 | - | - | - | - | |
Hours worked1013 |
2,138 | 1,760 | 928 | - | - | - | - | |
| Document | ||||||||
The notes to these accounts have 10 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 09-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 09-07-2026 | 2026-00283651 | |
| 31-12-2024 | micro format | 23-07-2025 | 2025-00296451 | |
| 31-12-2023 | micro format | 28-06-2024 | 2024-00183560 | |
| 31-12-2022 | micro format | 19-07-2023 | 2023-00255016 | |
| 31-12-2021 | micro format | 30-06-2022 | 2022-20153280 | |
| 31-12-2020 | micro format | 27-08-2021 | 2021-55400211 | |
| 31-12-2019 | micro format | 14-10-2020 | 2020-61800242 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| -9,798 | 34,839 | 192,364 | 503,201 | 125,500 | 17,151 | 98,521 | ||
| -71,305 | 4,107 | 116,337 | 337,743 | 93,628 | 15,626 | 73,595 | ||
| 90,100 | 1,939 | 814,468 | 35,617 | 221,529 | 33,879 | 63,925 | ||
| -109,369 | 98,307 | -435,562 | 443,579 | 16,084 | 16,822 | - | ||
| -16,418 | 314,350 | 305,630 | 398,180 | -92,620 | 50,301 | 14,670 | ||
| 29.0% | 62.4% | 58.8% | 54.2% | 24.0% | 26.9% | 26.9% | ||
| 0.96 | 3.28 | 2.67 | 2.90 | 0.80 | 1.30 | 1.08 | ||
| 2.45 | 0.60 | 0.70 | 0.85 | 3.16 | 2.71 | 2.72 | ||
| -36.0% | -4.4% | 17.1% | 67.5% | 52.5% | 3.7% | 92.8% | ||
| -10.4% | -2.7% | 10.1% | 36.6% | 12.6% | 1.0% | 25.0% | ||
| -0.13 | 0.75 | 4.15 | 19.20 | over 100 | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 2 | 1 | 1 |
| full-time | 2 | 1 | 1 |
| in full-time equivalents | 2 | 1 | 1 |
| 1.2 | 1 | 0.6 | |
| On a permanent contract | 2 | 1 | 1 |
Source: social balance sheet in the 2023 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €69,255 | €1,939 | €814,468 | €35,617 | €221,529 |
| Intangible fixed assets | €20,845 | - | - | - | - |
| €21,941 | €27,481 | €21,280 | €25,069 | €14,599 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €31,739, after a profit of €7,358 in 2024. It is the lowest result since 2019.
Debt's share of the balance-sheet total rises from 37.6% to 71.0%. Equity is lower and debt is higher.
Vertec has no parent and no holdings in its annual accounts. Vertec shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Dataloggers.shop registered office Vijf Gezusterslaan 17, 2960 Brecht | 28-06-2019 | 2.292.366.554 |
| Antwerpsesteenweg 5 2390 Malle | 11-10-2024 | 2.364.898.305 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11332L0025/00B005 | 1,668 m² | 1 · 158 m² | 10.4 m · 2 |
| 11032D0297/00N000 | 119 m² | 1 · 117 m² | 10.5 m · 1 |
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