Vestad
ActiveSummary
Vestad has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €380,097 and a net result of €55,003. Equity is growing by ~10.6% per year across the filed fiscal years. Its solvency ranks better than 31% of 2058 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
What they do
Engineering and related technical consultancy, excluding land surveyors
NACE 71121
#2 company by staff growth in Lille1 site
How big
€1.3mtotal assets 2025
- Staff
- 18.8 FTE
- Equity
- €380,097
- Profit
- €55,003
Turnover not published (abridged schema)
Who decides
- Largest shareholder
- Groep VE · 10%
- Holdings
- 1
Accounts 7 d early0 of 4 deeds read
Why 70+ Lower-failure-rate sector+ Long track record+ Annual accounts: healthy financial profileLatest accounts filed on timeShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability74▲+7
Solvency54▲+5
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity short (current ratio 0.94 against 0.76 in 2024; short-term debt: 42.3% and cash: 12.5% of total assets), and 71% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
29%
Return on assets
4.2%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 24-10-2025, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
6 d early
2023
on the day
2022
3 d early
2021
2 d early
2020
12 d late
2019
2 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 1 day before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 34% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today. Usually files around 28 October (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
31-03-2026 close01-10-2026 today31-10-2026 deadline
- Annual accounts filedfiscal year 2025 · abbreviated…
- Back to profitnet €55,003
- Annual accounts filedfiscal year 2024 · abbreviated…
Financials
Fiscal year 2025Total assets €1.3mProfit €55,003Solvency 29.0%Liquidity 0.94
Total assets
€1.3m▼ 4.9%
2019 - 2025
Net result
€55,003
2019 - 2025
Equity
€380,097▲ 15.7%
2019 - 2025
Staff (FTE)
18.8▲ 6.8%
2019 - 2025
Financials · fiscal year 2025, abbreviated schema
In the rankings
#2 company by staff growth in Lille
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€0.1m▲ 357%€0.1m▼ 23.7%€0.07m▼ 28.2%€0.01m▼ 83.1%€0.1m▲ 1,160%
Net result€0.1mwithin the sector's middle half▲ 453%€0.06mwithin the sector's middle half▼ 40.5%€0.04mwithin the sector's middle half▼ 31.2%-€0.02mbelow the sector's middle half€0.06mwithin the sector's middle half
Equity€0.3mwithin the sector's middle half▲ 28.4%€0.3mwithin the sector's middle half▲ 11.9%€0.3mwithin the sector's middle half▲ 12.9%€0.3mwithin the sector's middle half▼ 5.3%€0.4mwithin the sector's middle half▲ 15.7%
Total assets€1.0mwithin the sector's middle half▲ 19.7%€1.0mwithin the sector's middle half▲ 2.6%€1.0mwithin the sector's middle half▼ 2.8%€1.4mwithin the sector's middle half▲ 39.6%€1.3mwithin the sector's middle half▼ 4.9%
Debt€0.7m▲ 16.7%€0.7m▼ 1.0%€0.6m▼ 9.6%€1.0m▲ 64.0%€0.9m▼ 11.3%
Working capital€0.02mwithin the sector's middle half▼ 11.9%€0.06mwithin the sector's middle half▲ 244%€0.06mwithin the sector's middle half▼ 0.9%-€0.1mbelow the sector's middle half-€0.03mbelow the sector's middle half▲ 79.0%
Solvency27.7%within the sector's middle half▲ 1.9pp30.3%within the sector's middle half▲ 2.5pp35.2%within the sector's middle half▲ 4.9pp23.9%within the sector's middle half▼ 11.3pp29.0%within the sector's middle half▲ 5.2pp
Current ratio1.07below the sector's middle half▼ 0.041.21within the sector's middle half▲ 0.141.22within the sector's middle half▲ 0.010.76below the sector's middle half▼ 0.460.94below the sector's middle half▲ 0.19
Return on assets (ROA)9.8%within the sector's middle half▲ 7.7pp5.7%within the sector's middle half▼ 4.1pp4.0%within the sector's middle half▼ 1.7pp-1.3%below the sector's middle half▼ 5.3pp4.2%within the sector's middle half▲ 5.5pp
Staff (FTE)7.4within the sector's middle half▲ 17.5%10.1above the sector's middle half▲ 36.5%12.2above the sector's middle half▲ 20.8%17.6above the sector's middle half▲ 44.3%18.8above the sector's middle half▲ 6.8%
above
within
below
the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 1,160% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.3m
Fixed assets
€787,503 ▼ 13.8%
Current assets
€522,697 ▲ 12.9%
Equity and liabilities €1.3m
Equity
€380,097 ▲ 15.7%
Debt
€930,103 ▼ 11.3%
Debt's share of the balance-sheet total falls from 76.1% to 71.0%. Equity is higher and debt is lower.
Key figures and ratios
Key figures and ratios
EBITDA
€274,529▲
2024 · €144,193
Cash flow
€181,107▲
2024 · €114,191
Debt to equity
2.45▼
2024 · 3.19
ROE
14.5%▲
2024 · -5.5%
Interest coverage
14.58▲
2024 · 6.40
Debt ≤ 1 year
€554,062▼
2024 · €612,789
Debt > 1 year
€376,040▼
2024 · €435,860
Income taxes
€40,512▲
2024 · €10,014
Staff costs
€1.2m▲
2024 · €1.2m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,105 companies that looked in July 2024 the way this one looks now, 1.0% went bankrupt within 24 months and 98% are still going.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.0%
went bankrupt
0.9%
stopped otherwise
98%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,341 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% | 1.0% |
| 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% 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 4,105 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.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €0.01m | €0.004m | €0.001m | ▼ 85.5% |
| Remuneration, social security and pensions62 | - | €0.6m | €0.8m | €1.2m | €1.2m | ▲ 1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.08m | €0.09m | €0.07m | €0.1m | €0.1m | ▼ 4.8% |
| Other operating charges640/8 | - | €0.007m | €0.007m | €0.007m | €0.005m | ▼ 36.0% |
| Non-recurring operating charges66A | - | €499 | €0.007m | - | - | - |
| Gross operating margin9900 | €0.6m | €0.8m | €1.0m | €1.3m | €1.5m | ▲ 11.3% |
| Operating profit (loss)9901 | €0.1m | €0.1m | €0.07m | €0.01m | €0.1m | ▲ 1,160% |
| Financial income75/76B | - | €0.003m | €0.002m | €0.003m | €0.004m | ▲ 68.7% |
| Recurring financial income75 | €163 | €0.003m | €0.002m | €0.003m | €0.004m | ▲ 68.7% |
| Financial charges65/66B | - | €0.02m | €0.01m | €0.02m | €0.06m | ▲ 154% |
| Recurring financial charges65 | €0.01m | €0.01m | €0.01m | €0.02m | €0.02m | ▼ 16.4% |
| Non-recurring financial charges66B | - | €0.005m | - | - | €0.04m | - |
| Profit (loss) for the period before taxes9903 | €0.1m | €0.08m | €0.06m | -€0.008m | €0.1m | ▲ 1,263% |
| Income taxes67/77 | €0.02m | €0.03m | €0.02m | €0.01m | €0.04m | ▲ 305% |
| Profit (loss) for the period9904 | €0.1m | €0.06m | €0.04m | -€0.02m | €0.06m | ▲ 402% |
| Profit (loss) for the period to be appropriated9905 | €0.1m | €0.06m | €0.04m | -€0.02m | €0.06m | ▲ 402% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.0m | €1.0m | €1.0m | €1.4m | €1.3m | ▼ 4.9% |
| Fixed assets21/28 | €0.7m | €0.6m | €0.6m | €0.9m | €0.8m | ▼ 13.8% |
| Intangible fixed assets21 | - | - | - | €0.4m | €0.3m | ▼ 11.1% |
| Tangible fixed assets22/27 | €0.7m | €0.6m | €0.6m | €0.5m | €0.5m | ▼ 15.8% |
| Land and buildings22 | - | €0.5m | €0.5m | €0.4m | €0.4m | ▼ 6.7% |
| Plant, machinery and equipment23 | - | €0.02m | €0.02m | €0.02m | €0.01m | ▼ 36.2% |
| Furniture and vehicles24 | - | €0.1m | €0.1m | €0.08m | €0.03m | ▼ 59.7% |
| Financial fixed assets28 | €0.005m | €0.005m | €0.005m | €0.005m | €0.005m | = |
| Current assets29/58 | €0.3m | €0.4m | €0.4m | €0.5m | €0.5m | ▲ 12.9% |
| Amounts receivable within one year40/41 | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | ▼ 3.0% |
| Trade receivables40 | - | €0.2m | €0.3m | €0.3m | €0.3m | ▼ 2.9% |
| Other amounts receivable41 | - | €0.008m | €0.02m | €0.001m | €0.001m | ▼ 33.3% |
| Cash at bank and in hand54/58 | €0.06m | €0.1m | €0.04m | €0.1m | €0.2m | ▲ 38.4% |
| Deferred charges and accrued income490/1 | - | €0.05m | €0.04m | €0.05m | €0.07m | ▲ 44.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.0m | €1.0m | €1.0m | €1.4m | €1.3m | ▼ 4.9% |
| Equity10/15 | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | ▲ 15.7% |
| Contributions10/11 | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Reserves13 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Non-distributable reserves130/1 | - | €0.002m | €0.002m | - | - | - |
| Reserves not available under the articles1311 | - | €0.002m | €0.002m | - | - | - |
| Distributable reserves133 | - | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Profit (loss) carried forward14 | - | - | €0.04m | €0.02m | €0.07m | ▲ 241% |
| Amounts payable17/49 | €0.7m | €0.7m | €0.6m | €1.0m | €0.9m | ▼ 11.3% |
| Amounts payable after more than one year17 | €0.5m | €0.4m | €0.3m | €0.4m | €0.4m | ▼ 13.7% |
| Financial debts170/4 | - | €0.4m | €0.3m | €0.4m | €0.4m | ▼ 13.7% |
| Amounts payable within one year42/48 | €0.3m | €0.3m | €0.3m | €0.6m | €0.6m | ▼ 9.6% |
| Current portion of amounts payable after more than one year42 | - | €0.05m | €0.04m | €0.1m | €0.06m | ▼ 51.7% |
| Trade debts44 | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | ▼ 2.9% |
| Suppliers440/4 | - | €0.1m | €0.1m | €0.2m | €0.2m | ▼ 2.9% |
| Taxes, remuneration and social security45 | - | €0.1m | €0.1m | €0.3m | €0.3m | ▲ 3.4% |
| Taxes450/3 | - | €0.03m | €0.005m | €0.08m | €0.06m | ▼ 24.3% |
| Remuneration and social security454/9 | - | €0.08m | €0.1m | €0.2m | €0.2m | ▲ 15.8% |
| Other amounts payable47/48 | - | €0.03m | €0.003m | €0.003m | €0.006m | ▲ 117% |
| Accrued charges and deferred income492/3 | - | €0.001m | €0.005m | - | €0 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €96,841 | €57,665 | €39,688 | -€18,226 | €55,003 | ▲ 402% |
| + Depreciation and write-downs630 | €75,074 | €85,559 | €70,968 | €132,418 | €126,104 | ▼ 4.8% |
| Operating cash flow (approximation) | €171,916 | €143,224 | €110,656 | €114,191 | €181,107 | ▲ 58.6% |
| Investment in fixed assets (approximation) | - | -€23,122 | -€54,971 | -€418,348 | €372 | ▲ 100% |
| Change in cash | - | €64,984 | -€88,910 | €79,571 | €45,385 | ▼ 43.0% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Comparable companies
Similar companies · same sector, comparable size
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LPS-Experts
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CEMD
BE 0711.839.349
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Of 11,567 companies in this sector we hold annual accounts for 6,567. 4,706 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Board & ownership
1 holding
Directors
Directors
No directors read yet: 0 of 4 Gazette acts processed. See the function holders in the CBE →
Structure & network
Owners and holdings
1 owner · 1 holdingOwners 1
-
10%
Holdings 1
-
25%
According to the annual accounts to 31-03-2025 of Vestad and those of the other companies, the acts in the Belgian Gazette and the LEI register. 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 fill in these statements, or need not, is missing.
Connections & network
No directors read yet: 0 of 4 Gazette acts processed.
Timeline
14 eventsLatest 24-10-2025Next filing 31-10-2026
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
24-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-03
Financial
Back to profitnet €55,003
Net result €55,003 after one loss-making year.
2024
25-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
31-03
Financial
Weakest financial yearnet -€18,226
Net result drops to -€18,226, the lowest in the series; recovery starts the following year.
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
28-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
29-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
31-03
Financial
Highest result since 2019net €96,841 ▲453%
Net result €96,841, the highest in the series.
2020
12-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 12 days late
31-03
Financial
Equity above €200,000Eq €213,601 ▲8.9%
2 profitable years in a row build equity to €213,601.
2019
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
25-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
30-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Support & recognitions
1 funding sourceFlanders €9,035
Flemish government
€9,035
awarded · 2022 - 2025
Subsidies and aid
Flemish government
2022 to 2025 · 4 entries · €9,035 awarded · €9,124 paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | €2,835 | €2,965 |
| 2024 | 1 | €1,463 | €2,085 |
| 2023 | 1 | €2,280 | €1,617 |
| 2022 | 1 | €2,457 | €2,457 |
Company details
Private limited company · founded 28-02-2012Year ends 31-03Peppol reachable1 site
Register details
Identification
Legal formPrivate limited company
Founded28-02-2012
Fiscal year end31-03
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
71111Activities of building architects
74999Other professional, scientific and technical activities
Contact
Website
www.vestad.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0844223959
Registered
08-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Lille · 1 establishment unit since 2012
Ground area
1,202 m²
Building footprint
531 m²
Volume, LiDAR
2,073 m³
Parcel 13019E0546/00R002, Flanders · tallest building 10.8 m, ±1 floor. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Vestad
since 2012unit no. 2.208.535.788
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13019E0546/00R002 | Flanders | 1,202 m² | 1 · 531 m² | 10.8 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Subsidies
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