VETEX
ActiveVETEX has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.40M and a net result of €-609k. Equity is shrinking by ~8.1% per year across the filed fiscal years. Its solvency ranks better than 35% of 154 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
68
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability52▼-12
Solvency67▼-3
Growth34▼-17
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €290k at 30 days acceptable
Liquidity tight (current ratio 1.38 against 1.65 in 2024; short-term debt: 34.9% and cash: 3.5% of total assets), and 58% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 13
Relative position
BE, all sectors
reference
Sector 13
lower
← 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
42%
Return on assets
-5.8%
Age of the figures
9 mo
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 29-04-2026, 93 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
93 d early
2024
85 d early
2023
85 d early
2022
96 d early
2021
95 d early
2020
94 d early
2019
63 d early
← 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
18-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€16.07M▼ 1.2%
2024 · €16.27M
2018: €15.30M
2019: €14.64M
2020: €15.78M
2021: €14.98M
2022: €16.19M
2023: €14.72M
2024: €16.27M
2018 → 2025
EBIT margin
-4.6%▼ 5.3pp
2024 · 0.7%
2018: -0.7%
2019: -8.3%
2020: -5.1%
2021: -6.2%
2022: -4.5%
2023: -1.6%
2024: 0.7%
2018 → 2025
Net result
€-609k
2024 · €41k
2018: €-326k
2019: €-1.24M
2020: €-937k
2021: €-790k
2022: €-68k
2023: €-326k
2024: €41k
2018 → 2025
Working capital
€1.39M▼ 33.8%
2024 · €2.10M
2018: €3.81M
2019: €2.98M
2020: €2.91M
2021: €2.47M
2022: €2.68M
2023: €2.08M
2024: €2.10M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€14.98M-€16.19M▲ 8.1%€14.72M▼ 9.1%€16.27M▲ 10.5%€16.07M▼ 1.2%
Equity€5.52M-€5.40M▼ 2.2%€5.03M▼ 6.8%€5.04M▲ 0.2%€4.40M▼ 12.7%
Operating result€-925k-€-730k▲ 21.0%€-228k▲ 68.7%€121k€-732k
Net result€-790k-€-68k▲ 91.4%€-326k▼ 379%€41k€-609k
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €732k after €121k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €10.48M
Fixed assets
€5.43M▼ 7.1%
Current assets
€5.05M▼ 5.0%
Equity and liabilities €10.48M
Equity
€4.40M▼ 12.7%
Debt
€6.08M▼ 0.7%
The debt ratio rises from 54.8% to 58.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€550k▼
2024 · €1.37M
Cash flow
€674k▼
2024 · €1.29M
Solvency
42.0%▼
2024 · 45.2%
Current ratio
1.38▼
2024 · 1.65
Quick ratio
0.74▼
2024 · 0.82
Debt / equity
1.38▲
2024 · 1.21
ROE
-13.8%▼
2024 · 0.8%
ROA
-5.8%▼
2024 · 0.4%
Interest coverage
6.87▼
2024 · 14.66
Debt
€6.08M▼
2024 · €6.12M
Debt ≤ 1 year
€3.66M▲
2024 · €3.22M
Debt > 1 year
€2.03M▼
2024 · €2.69M
Income taxes
€3k▼
2024 · €3k
Staff costs
€5.62M▲
2024 · €5.28M
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€11.16M€10.48M▼
Fixed assets21/28€5.85M€5.43M▼
Tangible fixed assets22/27€5.79M€5.37M▼
Land and buildings22€715k€862k▲
Plant, machinery and equipment23€1.13M€1.21M▲
Furniture and vehicles24€385k€326k▼
Leasing and similar rights25€3.39M€2.75M▼
Other tangible fixed assets26€155k€214k▲
Assets under construction and advance payments27€14k€5k▼
Financial fixed assets28€64k€64k=
Affiliated companies280/1€63k€63k=
Participating interests280€63k€63k=
Other financial fixed assets284/8€373€373=
Shares284€273€273=
Amounts receivable and cash guarantees285/8€100€100=
Current assets29/58€5.31M€5.05M▼
Stocks and contracts in progress3€2.68M€2.36M▼
Stocks30/36€2.68M€2.36M▼
Raw materials and consumables30/31€932k€723k▼
Work in progress32€38k-
Finished goods33€1.71M€1.63M▼
Amounts receivable within one year40/41€2.14M€2.19M▲
Trade receivables40€1.65M€1.46M▼
Other amounts receivable41€482k€731k▲
Cash at bank and in hand54/58€396k€370k▼
Deferred charges and accrued income490/1€103k€129k▲
Equity and liabilities
Total equity and liabilities10/49€11.16M€10.48M▼
Equity10/15€5.04M€4.40M▼
Contributions10/11€1.63M€1.63M=
Capital10€719k€719k=
Issued capital100€719k€719k=
Outside capital11€909k€909k=
Share premium1100/10€909k€909k=
Reserves13€3.22M€3.27M▲
Non-distributable reserves130/1€833k€833k=
Legal reserve130€132k€132k=
Other1319€701k€701k=
Tax-exempt reserves132€75k€75k=
Distributable reserves133€2.32M€2.36M▲
Profit (loss) carried forward14€41k€-609k▼
Investment grants15€149k€118k▼
Amounts payable17/49€6.12M€6.08M▼
Amounts payable after more than one year17€2.69M€2.03M▼
Financial debts170/4€2.69M€2.03M▼
Leasing and similar obligations172€2.64M€1.99M▼
Credit institutions173€52k€45k▼
Amounts payable within one year42/48€3.22M€3.66M▲
Current portion of amounts payable after more than one year42€702k€663k▼
Financial debts43€882k€997k▲
Credit institutions430/8€882k€997k▲
Trade debts44€789k€911k▲
Suppliers440/4€789k€911k▲
Taxes, remuneration and social security45€843k€877k▲
Taxes450/3€94k€116k▲
Remuneration and social security454/9€749k€761k▲
Other amounts payable47/48€0€212k▲
Accrued charges and deferred income492/3€210k€386k▲
Income statement
Code20242025
Operating income70/76A€16.85M€16.29M▼
Turnover70€16.27M€16.07M▼
Change in stocks of work in progress, finished goods and contracts in progress71€40k€-193k▼
Other operating income74€539k€415k▼
Non-recurring operating income76A-€6k
Operating charges60/66A€16.73M€17.03M▲
Goods for resale, raw materials and consumables60€5.88M€6.03M▲
Purchases600/8€5.76M€5.94M▲
Change in stocks: decrease (increase)609€126k€85k▼
Services and other goods61€4.25M€4.00M▼
Remuneration, social security and pensions62€5.28M€5.62M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.25M€1.28M▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€14k€41k▲
Other operating charges640/8€48k€51k▲
Operating profit (loss)9901€121k€-732k▼
Financial income75/76B€122k€389k▲
Recurring financial income75€122k€389k▲
Income from financial fixed assets750-€300k
Other financial income752/9€122k€89k▼
Financial charges65/66B€199k€263k▲
Recurring financial charges65€199k€263k▲
Debt charges650€93k€80k▼
Other financial charges652/9€105k€183k▲
Profit (loss) for the period before taxes9903€44k€-606k▼
Income taxes67/77€3k€3k▼
Taxes670/3€4k€3k▼
Tax adjustments and reversals of tax provisions77€416€297▼
Profit (loss) for the period9904€41k€-609k▼
Profit (loss) for the period to be appropriated9905€41k€-609k▼
Appropriation of the result
Profit (loss) to be appropriated9906€41k€-609k▼
Transfer to equity691/2-€41k
To other reserves6921-€41k
Shareholders' contribution to the loss794-€41k
Social balance
Average headcount (FTE)908767.364.6▼
The notes to these accounts (84 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
29-04
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
07-05
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €41k
Net result €41k after 6 loss-making years.
07-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
26-04
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
27-04
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
28-04
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
29-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Weakest financial yearnet €-1.24M
Net result drops to €-1.24M, the lowest in the series; recovery starts the following year.
10-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
04-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
01-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
10 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, Ingelmunster · 2 establishment units since 1929
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.
Leon Bekaertstraat 148770 IngelmunsterGround area
4.8 ha
Building footprint
1.3 ha
Volume, LiDAR
59,730 m³
2 parcels, Flanders · tallest building 8.7 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
Leon Bekaertstraat 14, 8770 Ingelmunster
since 19292.004.647.035
Vetex
since 20232.356.721.205
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36007B0229/00F000 | Flanders | 3.7 ha | 1 · 9,263 m² | 8.7 m · 2 fl. |
| 34354D0456/00A000 | Flanders | 1.1 ha | 1 · 3,566 m² | 0.0 m |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 16 entries · 554,828 EUR awarded · 292,045 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 7 | 237,481 EUR | 33,083 EUR |
| 2024 | 5 | 228,174 EUR | 168,859 EUR |
| 2023 | 2 | 62,357 EUR | 63,787 EUR |
| 2022 | 2 | 26,816 EUR | 26,316 EUR |
Schemes
Ontwikkelingsproject
Vlaams opleidingsverlof (VOV)
O&O-haalbaarheidsstudie
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Subsidies voor internationaal ondernemen
European research
1 project · 525,774 EUR EU contributionProgrammes
h2020
Projects
In-Situ Polyurethane Resins
Recognitions · licences · registrations
Legal Entity Identifier
549300LMBIOZ332EBX11
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Of 757 companies in sector 13300 we hold annual accounts for 160. 40 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded01-01-1968
Fiscal year end31-12
Activities, NACEBEL
13300Finishing of textiles
13200Manufacture of textiles
17250
Sources
Crossroads Bank for EnterprisesNational Bank · 47 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.