VICERNANT
ActiveVICERNANT has been active since 1934 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €280k and a net result of €11k. Equity is shrinking by ~22.2% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 13% of 9581 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability19▲+19
Solvency3=
Growth58▲+26
Stability100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11k at 30 days only on tighter terms
Liquidity short (current ratio 0.46 against 0.47 in 2023), and 95.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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 01
Relative position
BE, all sectors
reference
Sector 01
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
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 9581 sector peers (2024).
NBB · sector comparisonPosition among 9581 sector peers
Solvency
better than 13%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 12-06-2025, 49 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
49 d early
2023
30 d late
2022
30 d late
2021
52 d early
2020
59 d late
2019
91 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Equity
€280k▲ 4.0%
2023 · €269k
2018: €769k
2019: €711k
2020: €606k
2021: €434k
2022: €384k
2023: €269k
2018 → 2024
Total assets
€5.71M▼ 6.2%
2023 · €6.09M
2018: €4.48M
2019: €4.50M
2020: €5.66M
2021: €5.32M
2022: €6.33M
2023: €6.09M
2018 → 2024
Net result
€11k
2023 · €-115k
2018: €-12k
2019: €-58k
2020: €-105k
2021: €-172k
2022: €-50k
2023: €-115k
2018 → 2024
Working capital
€-2.23M▲ 6.3%
2023 · €-2.38M
2018: €-2.30M
2019: €-2.31M
2020: €-1.78M
2021: €-1.94M
2022: €-2.39M
2023: €-2.38M
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€606k-€434k▼ 28.4%€384k▼ 11.5%€269k▼ 29.9%€280k▲ 4.0%
Operating result€-45k-€-127k▼ 184%€960€-30k€103k
Net result€-105k-€-172k▼ 64.4%€-50k▲ 71.1%€-115k▼ 131%€11k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €103k after a loss of €30k in 2023, the highest year so far.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €5.71M
Fixed assets
€3.77M▼ 5.3%
Current assets
€1.93M▼ 8.0%
Equity and liabilities €5.71M
Equity
€280k▲ 4.0%
Provisions
€8k▼ 0.2%
Debt
€5.42M▼ 6.7%
The debt ratio falls from 95.4% to 94.9%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€254k▲
2023 · €103k
Cash flow
€162k▲
2023 · €18k
Solvency
4.9%▲
2023 · 4.4%
Current ratio
0.46▼
2023 · 0.47
Quick ratio
0.25▲
2023 · 0.24
Debt / equity
19.33▼
2023 · 21.56
ROE
3.9%▲
2023 · -42.7%
ROA
0.2%▲
2023 · -1.9%
Interest coverage
2.74▲
2023 · 1.17
Debt
€5.42M▼
2023 · €5.81M
Debt ≤ 1 year
€4.17M▼
2023 · €4.49M
Debt > 1 year
€1.24M▼
2023 · €1.31M
Staff costs
€244k▼
2023 · €277k
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€6.09M€5.71M▼
Fixed assets21/28€3.98M€3.77M▼
Intangible fixed assets21€509k€530k▲
Tangible fixed assets22/27€2.80M€2.57M▼
Land and buildings22€2.59M€2.38M▼
Plant, machinery and equipment23€36k€31k▼
Furniture and vehicles24€41k€30k▼
Leasing and similar rights25€42k€15k▼
Other tangible fixed assets26€98k€117k▲
Financial fixed assets28€670k€670k=
Current assets29/58€2.10M€1.93M▼
Stocks and contracts in progress3€1.04M€896k▼
Stocks30/36€1.04M€896k▼
Amounts receivable within one year40/41€1.00M€823k▼
Trade receivables40€998k€814k▼
Other amounts receivable41€6k€9k▲
Cash at bank and in hand54/58€40k€196k▲
Deferred charges and accrued income490/1€19k€20k▲
Equity and liabilities
Total equity and liabilities10/49€6.09M€5.71M▼
Equity10/15€269k€280k▲
Contributions10/11€124k€124k=
Capital10€124k€124k=
Issued capital100€124k€124k=
Reserves13€115k€115k=
Non-distributable reserves130/1€12k€12k=
Legal reserve130€12k€12k=
Tax-exempt reserves132€39-
Distributable reserves133€103k€103k=
Profit (loss) carried forward14€30k€41k▲
Provisions and deferred taxes16€8k€8k▼
Provisions for liabilities and charges160/5€8k€8k=
Major repairs and maintenance162€8k€8k=
Deferred taxes168€20-
Amounts payable17/49€5.81M€5.42M▼
Amounts payable after more than one year17€1.31M€1.24M▼
Financial debts170/4€1.31M€1.24M▼
Amounts payable within one year42/48€4.49M€4.17M▼
Current portion of amounts payable after more than one year42€104k€94k▼
Financial debts43€850k€685k▼
Credit institutions430/8€850k€685k▼
Trade debts44€2.07M€1.97M▼
Suppliers440/4€2.07M€1.97M▼
Taxes, remuneration and social security45€45k€32k▼
Taxes450/3€15k€3k▼
Remuneration and social security454/9€30k€29k▼
Other amounts payable47/48€1.42M€1.39M▼
Accrued charges and deferred income492/3€14k€13k▼
Income statement
Code20232024
Non-recurring operating income76A-€375k
Remuneration, social security and pensions62€277k€244k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€133k€151k▲
Other operating charges640/8€8k€6k▼
Non-recurring operating charges66A€7k€8k▲
Gross operating margin9900€395k€513k▲
Operating profit (loss)9901€-30k€103k▲
Financial income75/76B€3k€535▼
Recurring financial income75€3k€535▼
Financial charges65/66B€88k€93k▲
Recurring financial charges65€88k€93k▲
Profit (loss) for the period before taxes9903€-115k€11k▲
Transfer from deferred taxes780€25€20▼
Profit (loss) for the period9904€-115k€11k▲
Transfer from tax-exempt reserves789€48€39▼
Profit (loss) for the period to be appropriated9905€-115k€11k▲
Appropriation of the result
Profit (loss) to be appropriated9906€30k€41k▲
Profit (loss) brought forward from the previous period14P€145k€30k▼
Social balance
Average headcount (FTE)90876.65.2▼
The notes to these accounts (17 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
12-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €11k
Net result €11k after 6 loss-making years.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 30 days late
2022
09-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet €-172k
Net result drops to €-172k, the lowest in the series; recovery starts the following year.
28-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 59 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 91 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
2016
29-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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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Directors · office · real estate
Directors
2 directors, last change in 2022
Marie-Christine Vynckier
CurrentDirector · since 17-06-2022
17-06-2022
Marie-Christine Vynckier: Appointed as Director
17-06-2022
Anthony Mornie: Resigned as Director
Not every act has been read: a resignation may be missing here
8 of this company's 8 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Gent · 2 establishment units since 1934
Ground area
9,238 m²
Building footprint
444 m²
Volume, LiDAR
7,963 m³
2 parcels, Flanders · tallest building 27.4 m, ±9 floors. Linked by address, not a title deed.
2 establishment units
VICERNANT
since 19342.003.026.937
Vlotweg 5, 9990 Maldegem
since 20092.301.276.005
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43010A0557/00G000 | Flanders | 8,571 m² | 1 · 142 m² | 6.6 m · 1 fl. |
| 44804D2993/00C000 | Flanders | 666 m² | 1 · 302 m² | 27.4 m · 9 fl. |
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.
Similar companies · same sector, comparable size
OP DEN DRIES
BE 0424.255.630
Bilzen-Hoeselt · Eq €280k
PLASSCHAERT
BE 0430.192.921
Middelkerke · Eq €281k
STUD V.V.
BE 0682.594.344
Sint-Pieters-Leeuw · Eq €281k
Haras de Prépinson
BE 0699.571.027
La Roche-en-Ardenne · Eq €281k
GD SPORTHORSES
BE 0543.591.265
Brussel · Eq €282k
Of 1,945 companies in sector 01430 we hold annual accounts for 739. 503 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded22-12-1934
Fiscal year end31-12
Activities, NACEBEL
01220
01430Raising of horses and other equines
47781Retail sale of solid, liquid and gaseous fuels, excluding motor fuels
52481
47300Retail sale of automotive fuel
64200Holdings
64210Activities of holding companies
70200Business and other management consultancy
70220Business consulting
Sources
Crossroads Bank for EnterprisesNational Bank · 47 filingsAddress and cadastre registers
Data from official sources, last processed on 10-09-2026. Scores and ratios are computed by Checked and are not a credit decision.