VHAD
ActiveFrom the official registers: KBO 2 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
VHAD has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €54,935 and a net result of €38,950. Its solvency ranks better than 49% of 2,295 sector peers (NACE 63, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Official details
KBO- Status
- Active since 25-08-2023 Normal situation
- Legal form
- Private limited company
- Registered office
- H.-Geestmolenstraat 44, 9160 Lokeren
- Activity
- Other information service activities NACE 63920and 1 other
- Establishment unit
- 2.348.999.708 9160 Lokeren, since 25-08-2023
- Financial year end
- 30 September
- Peppol
- Reachable since 30-11-2025
How it is doing
- Bankruptcy probabilitywithin 12 months
- 0.1%
- Gross margin
- €65,667
- ▲ 130%
- Turnover
- ≈ €200,000
- estimated
- Profit
- €38,950
- ▲ 255%
- Equity
- €54,935
- ▲ 244%
- Total assets
- €101,819
- ▲ 68.6%
Why 97raises riskFounded in 2023lowers riskLiquidity: current ratio 2.09, cash €57,840Sector: Computing infrastructure, data processing, hosting and other information service activities (NACE 63)Equity €54,935 (54.0% of total assets)Show 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 63, micro): better than 50% on solvency, 73% on liquidity, 85% on profitability and 96% on growth.
The bankruptcy probability was computed on 31-10-2026 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 2 accounts on average 1 day after the deadline; the sector median (NACE 63) for financial year 2024 is 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
Financials · financial year 2025, micro format
2025 annual accounts filed late (2 days) Filed on 2 May 2026, deadline 30 April 2026 (7 months after the close on 30 September 2025, Companies Code art. 3:10). Source: NBB, 2026-00099268.
Annual accounts 2025
- Financial year ended
- 30-09-2025
- Filed on
- 02-05-2026
- Format
- micro format
- Reference
- 2026-00099268
2024 to 2025, 2 financial years
The operating result rises in 2025; 2025 is over 3.1 times 2024.
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.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 63, Computing infrastructure, data processing, hosting and other information service 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).
Peer companies
Historical observationOf the 39,278 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 95.9% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a lower bankruptcy probability: 0.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 39,278 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 | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,511 | €9,460 | ▼ 10.0% |
| Other operating charges640/8 | €50 | €307 | ▲ 514% |
| Gross operating margin9900 | €28,498 | €65,667 | ▲ 130% |
| Operating profit (loss)9901 | €17,937 | €55,900 | ▲ 212% |
| Financial charges65/66B | €2,324 | €1,668 | ▼ 28.2% |
| Recurring financial charges65 | €2,324 | €1,668 | ▼ 28.2% |
| Profit (loss) for the period before taxes9903 | €15,613 | €54,232 | ▲ 247% |
| Income taxes67/77 | €4,628 | €15,282 | ▲ 230% |
| Profit (loss) for the period9904 | €10,985 | €38,950 | ▲ 255% |
| Profit (loss) for the period to be appropriated9905 | €10,985 | €38,950 | ▲ 255% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €60,382 | €101,819 | ▲ 68.6% |
| Formation expenses20 | €132 | €0 | ▼ 100% |
| Fixed assets21/28 | €36,348 | €30,267 | ▼ 16.7% |
| Intangible fixed assets21 | €0 | €0 | - |
| Tangible fixed assets22/27 | €36,348 | €30,267 | ▼ 16.7% |
| Land and buildings22 | €0 | €0 | - |
| Plant, machinery and equipment23 | €0 | €3,177 | - |
| Furniture and vehicles24 | €36,348 | €27,090 | ▼ 25.5% |
| Leasing and similar rights25 | €0 | €0 | - |
| Other tangible fixed assets26 | €0 | €0 | - |
| Assets under construction and advance payments27 | €0 | €0 | - |
| Financial fixed assets28 | €0 | €0 | - |
| Current assets29/58 | €23,901 | €71,552 | ▲ 199% |
| Amounts receivable after more than one year29 | €0 | €0 | - |
| Trade receivables290 | €0 | €0 | - |
| Other amounts receivable291 | €0 | €0 | - |
| Stocks and contracts in progress3 | €0 | €0 | - |
| Stocks30/36 | €0 | €0 | - |
| Contracts in progress37 | €0 | €0 | - |
| Amounts receivable within one year40/41 | €9,075 | €12,107 | ▲ 33.4% |
| Trade receivables40 | €9,075 | €12,106 | ▲ 33.4% |
| Other amounts receivable41 | €0 | €1 | - |
| Current investments50/53 | €0 | €0 | - |
| Cash at bank and in hand54/58 | €13,330 | €57,840 | ▲ 334% |
| Deferred charges and accrued income490/1 | €1,496 | €1,605 | ▲ 7.3% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €60,382 | €101,819 | ▲ 68.6% |
| Equity10/15 | €15,985 | €54,935 | ▲ 244% |
| Contributions10/11 | €5,000 | €5,000 | = |
| Revaluation surpluses12 | €0 | €0 | - |
| Reserves13 | €10,985 | €49,935 | ▲ 355% |
| Non-distributable reserves130/1 | €0 | €0 | - |
| Reserves not available under the articles1311 | €0 | €0 | - |
| Own shares acquired1312 | €0 | €0 | - |
| Financial assistance1313 | €0 | €0 | - |
| Other1319 | €0 | €0 | - |
| Tax-exempt reserves132 | €0 | €0 | - |
| Distributable reserves133 | €10,985 | €49,935 | ▲ 355% |
| Profit (loss) carried forward14 | €0 | €0 | - |
| Investment grants15 | €0 | €0 | - |
| Advance to shareholders on the distribution of net assets19 | €0 | €0 | - |
| Provisions and deferred taxes16 | €0 | €0 | - |
| Provisions for liabilities and charges160/5 | €0 | €0 | - |
| Pensions and similar obligations160 | €0 | €0 | - |
| Taxes161 | €0 | €0 | - |
| Major repairs and maintenance162 | €0 | €0 | - |
| Environmental obligations163 | €0 | €0 | - |
| Other liabilities and charges164/5 | €0 | €0 | - |
| Deferred taxes168 | €0 | €0 | - |
| Amounts payable17/49 | €44,396 | €46,884 | ▲ 5.6% |
| Amounts payable after more than one year17 | €24,278 | €12,436 | ▼ 48.8% |
| Financial debts170/4 | €24,278 | €12,436 | ▼ 48.8% |
| Trade debts175 | €0 | €0 | - |
| Advances received on contracts in progress176 | €0 | €0 | - |
| Other amounts payable178/9 | €0 | €0 | - |
| Amounts payable within one year42/48 | €19,967 | €34,296 | ▲ 71.8% |
| Current portion of amounts payable after more than one year42 | €11,276 | €11,842 | ▲ 5.0% |
| Financial debts43 | €0 | €0 | - |
| Credit institutions430/8 | €0 | €0 | - |
| Other loans439 | €0 | €0 | - |
| Trade debts44 | €968 | €3,333 | ▲ 244% |
| Suppliers440/4 | €968 | €3,333 | ▲ 244% |
| Bills of exchange payable441 | €0 | €0 | - |
| Advances received on contracts in progress46 | €0 | €0 | - |
| Taxes, remuneration and social security45 | €7,723 | €19,122 | ▲ 148% |
| Taxes450/3 | €7,723 | €19,122 | ▲ 148% |
| Remuneration and social security454/9 | €0 | €0 | - |
| Other amounts payable47/48 | €0 | €0 | - |
| Accrued charges and deferred income492/3 | €152 | €152 | = |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €10,985 | €38,950 | ▲ 255% |
| + Depreciation and write-downs630 | €10,511 | €9,460 | ▼ 10.0% |
| Operating cash flow (approximation) | €21,496 | €48,410 | ▲ 125% |
| Investment in fixed assets (approximation) | - | -€3,378 | - |
| Change in cash | - | €44,510 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
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
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| VAN HECKE Adeline Edgard Marie-Antoinette |
|
How the board is organised
- Board ruleHow the board is made up, meets and takes decisions.
- “1, natuurlijke personen of rechtspersonen,al dan niet aandeelhouder”
Articles of association, deed of 29-08-2023 (in Dutch)
Owners and capital
Capital and shareholders
- VAN HECKE Adeline Edgard Marie-Antoinette 1,000 shares (100%) · €5,000 in cash
- 29-08-2023 Incorporation · €5,000 · 1,000 shares
Shares according to the articles of association
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “1000, gelijk recht in winstverdeling en vereffeningsaldo”
- Other provisionsRules from the articles on subjects other than the board, the shares, the purpose and the meetings.
- Other provision: “Toegang-algemene-vergadering, ingeschreven-in-register-effecten-op-naam-per-categorie”1 more provision in the deed, see the deed of 29-08-2023
Articles of association, deed of 29-08-2023 (in Dutch)
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
VHAD was incorporated on 25 August 2023 as a private limited company by one natural person, with a starting capital of €5,000.12 VAN HECKE Adeline Edgard Marie-Antoinette is statutory director of the company, appointed in the act of 29-08-2023.2 The company has filed 2 sets of annual accounts, the latest for financial year 2025.3
Acts, filings and financial milestones
29-08
Gazette deed
IncorporationAppointment: VAN HECKE Adeline Edgard Marie-Antoinette (statutory director) · Founder · Founding capital4 facts ▸
- Incorporation, “VHAD” (deed in Dutch)
- Founder, VAN HECKE Adeline Edgard Marie-Antoinette (comparant)
- Founding capital, €5,000
- Director appointment, VAN HECKE Adeline Edgard Marie-Antoinette (statutory director)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Register details
Who it is
KBO recordWhere it is based
What it does
NACEBEL 2025Invoicing and payment
Financial year and general meeting
Accounts at the NBBScores and ratios are computed by Checked and are not a credit decision.
Purpose, financial year and meetings according to the articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- VHAD
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, administratieve zetels,agentschappen,werkhuizen,stapelplaatsen en bijkantoren in België of buitenland bij enkel besluit…”
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- “TITEL V. ALGEMENE VERGADERING Artikel 16. Organisatie en bijeenroeping Ieder jaar wordt een gewone algemene vergadering van aandeelhouders…”
Articles of association, deed of 29-08-2023 (in Dutch)
Environmental permits: No permit applications found in Flanders.
Sites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 46383D0437/00C000 | Flanders | 1,897 m² | 1 · 218 m² | 6.6 m · 2 |