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Vika

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Public limited companyfounded 1969active for 57 yearsDrieslaan 39, 8560 Wevelgem, BelgiumKBO/BCE: BE 0406.791.670

Financials · financial year 2025, full format

Annual accounts 2025 filed on 06-07-2026 at the NBB all 49 filings

Turnover
≈ €9.5m
Estimated: probably between €6.4m and €16.0m
EBIT margin
Not included in this filing
Net result
€1.8m▲ 26.7%
2024 · €1.4m
Working capital
€3.0m▼ 2.5%
2024 · €3.1m
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result for 2025 is 42% higher than in 2024. It is a recovery after the fall in 2024.

Operating result€2.1m 2025 Net result€1.8m 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Manufacture of furniture (NACE 31). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Operating result€2.0m-€2.6m▲ 28.9%€1.8m▼ 29.1%€2.4m▲ 31.3%€3.1m▲ 26.9%€2.5m▼ 17.7%€1.5m▼ 40.7%€2.1m▲ 42.4%
Net result€1.4m-€1.8m▲ 29.9%€1.3mabove the sector's middle half▼ 26.1%€1.8mabove the sector's middle half▲ 33.7%€2.0mabove the sector's middle half▲ 12.0%€2.2mabove the sector's middle half▲ 7.7%€1.4mabove the sector's middle half▼ 35.5%€1.8mabove the sector's middle half▲ 26.7%
Equity€7.9m-€6.7m▼ 15.0%€6.8mabove the sector's middle half▲ 1.3%€7.2mabove the sector's middle half▲ 6.5%€7.5mabove the sector's middle half▲ 3.6%€7.9mabove the sector's middle half▲ 5.5%€3.7mabove the sector's middle half▼ 52.8%€3.8mwithin the sector's middle half▲ 3.0%
Total assets€10.9m-€12.0m▲ 10.2%€9.7mabove the sector's middle half▼ 18.7%€9.8mabove the sector's middle half▲ 0.7%€10.5mabove the sector's middle half▲ 7.6%€10.7mabove the sector's middle half▲ 1.1%€10.2mabove the sector's middle half▼ 3.9%€6.3mwithin the sector's middle half▼ 38.3%
Debt€2.9m-€5.1m▲ 75.3%€2.8m▼ 45.2%€2.5m▼ 13.0%€3.0m▲ 20.4%€2.7m▼ 9.4%€6.5m▲ 141%€2.4m▼ 62.4%
Working capital€5.5m-€4.7m▼ 14.1%€4.9mabove the sector's middle half▲ 3.1%€5.5mabove the sector's middle half▲ 12.1%€6.2mabove the sector's middle half▲ 14.2%€7.1mabove the sector's middle half▲ 14.1%€3.1mabove the sector's middle half▼ 56.8%€3.0mabove the sector's middle half▼ 2.5%
Solvency72.6%-56.0%▼ 16.6pp69.8%above the sector's middle half▲ 13.8pp73.9%above the sector's middle half▲ 4.0pp71.1%above the sector's middle half▼ 2.8pp74.2%above the sector's middle half▲ 3.1pp36.4%within the sector's middle half▼ 37.8pp60.8%within the sector's middle half▲ 24.4pp
Current ratio4.47-2.07▼ 2.392.82within the sector's middle half▲ 0.753.23above the sector's middle half▲ 0.403.11above the sector's middle half▼ 0.123.65above the sector's middle half▲ 0.541.48within the sector's middle half▼ 2.182.23within the sector's middle half▲ 0.76
Return on assets (ROA)12.8%-15.1%▲ 2.3pp13.8%above the sector's middle half▼ 1.4pp18.3%above the sector's middle half▲ 4.5pp19.0%above the sector's middle half▲ 0.8pp20.3%above the sector's middle half▲ 1.2pp13.6%above the sector's middle half▼ 6.7pp27.9%above the sector's middle half▲ 14.3pp
Staff (FTE)47.4-48.4▲ 2.1%49.6above the sector's middle half▲ 2.5%50.6above the sector's middle half▲ 2.0%56.3above the sector's middle half▲ 11.3%57.8above the sector's middle half▲ 2.7%53.4above the sector's middle half▼ 7.6%53above the sector's middle half▼ 0.7%
above within below The sector band is the middle half of the companies in Manufacture of furniture (NACE 31). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.3m
Fixed assets €901,683 ▲ 23.9%
Current assets €5.4m ▼ 43.0%
Equity and liabilities €6.3m
Equity €3.8m ▲ 3.0%
Provisions €52,566 ▼ 16.4%
Debt €2.4m ▼ 62.4%
Debt's share of the balance-sheet total falls from 63.0% to 38.4%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€2.5m▲
2024 · €1.8m
Cash flow
€2.1m▲
2024 · €1.7m
Quick ratio
1.72▲
2024 · 1.33
Debt to equity
0.63▼
2024 · 1.73
ROE
46.0%▲
2024 · 37.4%
Interest coverage
7.88▼
2024 · 17.27
Debt ≤ 1 year
€2.4m▼
2024 · €6.4m
Income taxes
€453,934▲
2024 · €340,441
Staff costs
€3.0m▲
2024 · €2.9m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet
Item31-12-202131-12-202231-12-202331-12-202431-12-2025
Employees at the balance-sheet date5459545554
full-time5155464746
part-time34888
in full-time equivalents53.15852.453.352.5
Average over the year, in full-time equivalents50.656.357.853.453
On a permanent contract5454504946
Joined3014121913
Left259171714
Training hours2,7472,6822,6752,5212,513

Source: social balance sheet in the 2021 to 2025 annual accounts

Securities and guarantees

on own assets and for others
Item20212022202320242025
Debts secured on the company's own assets€150,000----
Mandates to pledge the business€3.3m€3.3m€3.3m€3.3m€3.3m

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€486,948€44,965€71,814€161,572€503,750
Financial fixed assets---€75€0
Depreciation and write-downs of the year€794,002€578,750€551,539€315,255€329,600

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Subsidies and aid

Flemish government

2022 to 2025 · 7 entries · €23,261 awarded · €21,279 paid
Year Entries AwardedPaid
2025 2 €12,271€10,171
2024 1 €998€998
2023 1 €280€429
2022 3 €9,712€9,681
Schemes
2 entries · €12,354 · €12,354 paid · Departement Werk en Sociale Economie
1 entry · €5,549 · €5,549 paid · Departement Werk en Sociale Economie
4 entries · €5,358 · €3,376 paid · Fonds voor Innoveren en Ondernemen
Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 62 lines
Balance sheet Code20242025
Assets
Total assets20/58€10.2m€6.3m▼
Fixed assets21/28€0.7m€0.9m▲
Tangible fixed assets22/27€0.7m€0.9m▲
Plant, machinery and equipment23€0.5m€0.8m▲
Furniture and vehicles24€0.2m€0.09m▼
Other tangible fixed assets26€0.06m€0.05m▼
Financial fixed assets28€0.001m€0.001m=
Current assets29/58€9.5m€5.4m▼
Stocks and contracts in progress3€0.9m€1.3m▲
Stocks30/36€0.9m€1.3m▲
Amounts receivable within one year40/41€1.2m€1.2m▼
Trade receivables40€1.0m€1.2m▲
Other amounts receivable41€0.2m€0.02m▼
Current investments50/53€3.3m€0.9m▼
Cash at bank and in hand54/58€4.0m€2.0m▼
Deferred charges and accrued income490/1€0.1m€0.1m▼
Equity and liabilities
Total equity and liabilities10/49€10.2m€6.3m▼
Equity10/15€3.7m€3.8m▲
Contributions10/11€0.1m€0.1m=
Capital10€0.1m€0.1m=
Issued capital100€0.1m€0.1m=
Reserves13€3.6m€3.7m▲
Non-distributable reserves130/1€0.01m€0.01m=
Legal reserve130€0.01m€0.01m=
Tax-exempt reserves132€0.2m€0.2m▼
Distributable reserves133€3.4m€3.5m▲
Profit (loss) carried forward14€0€0=
Provisions and deferred taxes16€0.06m€0.05m▼
Deferred taxes168€0.06m€0.05m▼
Amounts payable17/49€6.5m€2.4m▼
Amounts payable within one year42/48€6.4m€2.4m▼
Trade debts44€0.5m€0.3m▼
Suppliers440/4€0.5m€0.3m▼
Taxes, remuneration and social security45€0.4m€0.5m▲
Taxes450/3€0.2m€0.2m▲
Remuneration and social security454/9€0.3m€0.3m▲
Other amounts payable47/48€5.6m€1.7m▼
Accrued charges and deferred income492/3€0.006m€0▼
Income statement Code20242025
Remuneration, social security and pensions62€2.9m€3.0m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.3m€0.3m▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0.09m€0▼
Other operating charges640/8€0.08m€0.09m▲
Gross operating margin9900€4.9m€5.5m▲
Operating profit (loss)9901€1.5m€2.1m▲
Financial income75/76B€0.3m€0.4m▲
Recurring financial income75€0.3m€0.4m▲
Financial charges65/66B€0.1m€0.3m▲
Recurring financial charges65€0.1m€0.3m▲
Profit (loss) for the period before taxes9903€1.7m€2.2m▲
Transfer from deferred taxes780€0.01m€0.01m▼
Income taxes67/77€0.3m€0.5m▲
Profit (loss) for the period9904€1.4m€1.8m▲
Transfer from tax-exempt reserves789€0.04m€0.03m▼
Profit (loss) for the period to be appropriated9905€1.4m€1.8m▲
Appropriation of the result
Profit (loss) to be appropriated9906€1.4m€1.8m▲
Transfer from equity791/2€4.1m€0▼
Transfer to equity691/2€0€0.1m▲
To other reserves6921€0€0.1m▲
Profit to be distributed694/7€5.6m€1.7m▼
Return on contributions (dividend)694€5.3m€1.3m▼
Directors or managers695€0.3m€0.4m▲
Social balance sheet
Average headcount (FTE)908753.453.0▼

The notes to these accounts have 12 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 06-07-2026.

Line20182019202020212022202320242025Change
Non-recurring operating income76A---€0.003m€0.001m€0---
Remuneration, social security and pensions62---€2.5m€2.9m€3.0m€2.9m€3.0m▲ 3.1%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.9m€0.9m€0.8m€0.8m€0.6m€0.6m€0.3m€0.3m▲ 4.6%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4---€0-€0.04m-€0.03m€0.09m€0▼ 100%
Other operating charges640/8---€0.09m€0.07m€0.1m€0.08m€0.09m▲ 19.8%
Non-recurring operating charges66A---€59€0----
Gross operating margin9900€5.0m€6.1m€5.0m€5.8m€6.6m€6.2m€4.9m€5.5m▲ 13.7%
Operating profit (loss)9901€2.0m€2.6m€1.8m€2.4m€3.1m€2.5m€1.5m€2.1m▲ 42.4%
Financial income75/76B---€0.3m€0.2m€0.2m€0.3m€0.4m▲ 18.7%
Recurring financial income75€0.2m€0.2m€0.2m€0.3m€0.2m€0.2m€0.3m€0.4m▲ 18.7%
Financial charges65/66B---€0.3m€0.7m€0.1m€0.1m€0.3m▲ 198%
Recurring financial charges65€0.2m€0.2m€0.3m€0.3m€0.7m€0.1m€0.1m€0.3m▲ 198%
Profit (loss) for the period before taxes9903€2.0m€2.6m€1.8m€2.4m€2.7m€2.7m€1.7m€2.2m▲ 28.5%
Transfer from deferred taxes780---€0.01m€0.01m€0.01m€0.01m€0.01m▼ 29.3%
Income taxes67/77€0.6m€0.7m€0.5m€0.6m€0.7m€0.5m€0.3m€0.5m▲ 33.3%
Profit (loss) for the period9904€1.4m€1.8m€1.3m€1.8m€2.0m€2.2m€1.4m€1.8m▲ 26.7%
Transfer from tax-exempt reserves789---€0.03m€0.04m€0.04m€0.04m€0.03m▼ 29.3%
Profit (loss) for the period to be appropriated9905€1.4m€1.5m€1.4m€1.8m€2.1m€2.2m€1.4m€1.8m▲ 25.0%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€10.9m€12.0m€9.7m€9.8m€10.5m€10.7m€10.2m€6.3m▼ 38.3%
Fixed assets21/28€3.8m€2.9m€2.2m€1.9m€1.4m€0.9m€0.7m€0.9m▲ 23.9%
Tangible fixed assets22/27€3.8m€2.9m€2.2m€1.9m€1.4m€0.9m€0.7m€0.9m▲ 24.0%
Plant, machinery and equipment23---€1.6m€1.1m€0.6m€0.5m€0.8m▲ 49.8%
Furniture and vehicles24---€0.2m€0.2m€0.2m€0.2m€0.09m▼ 39.3%
Other tangible fixed assets26---€0.1m€0.1m€0.08m€0.06m€0.05m▼ 26.0%
Financial fixed assets28€0.001m€0.001m€0.001m€0.001m€0.001m€0.001m€0.001m€0.001m=
Current assets29/58€7.1m€9.1m€7.5m€7.9m€9.2m€9.8m€9.5m€5.4m▼ 43.0%
Stocks and contracts in progress3€0.4m€0.4m€0.4m€1.1m€1.3m€1.0m€0.9m€1.3m▲ 34.1%
Stocks30/36---€1.1m€1.3m€1.0m€0.9m€1.3m▲ 34.1%
Amounts receivable within one year40/41€2.3m€2.2m€1.1m€1.2m€1.3m€1.0m€1.2m€1.2m▼ 3.4%
Trade receivables40---€1.1m€1.3m€1.0m€1.0m€1.2m▲ 17.4%
Other amounts receivable41---€0.009m€0.006m€0.004m€0.2m€0.02m▼ 90.3%
Current investments50/53---€1.8m€1.4m€3.6m€3.3m€0.9m▼ 74.2%
Cash at bank and in hand54/58€4.4m€6.5m€5.9m€3.8m€5.1m€4.0m€4.0m€2.0m▼ 48.6%
Deferred charges and accrued income490/1---€0.07m€0.08m€0.1m€0.1m€0.1m▼ 1.1%
Equity and liabilities
Total equity and liabilities10/49€10.9m€12.0m€9.7m€9.8m€10.5m€10.7m€10.2m€6.3m▼ 38.3%
Equity10/15€7.9m€6.7m€6.8m€7.2m€7.5m€7.9m€3.7m€3.8m▲ 3.0%
Contributions10/11€0.1m€0.1m€0.1m€0.1m€0.1m€0.1m€0.1m€0.1m=
Capital10---€0.1m€0.1m€0.1m€0.1m€0.1m=
Issued capital100---€0.1m€0.1m€0.1m€0.1m€0.1m=
Reserves13€7.8m€6.6m€6.7m€7.1m€7.4m€7.8m€3.6m€3.7m▲ 3.1%
Non-distributable reserves130/1---€0.01m€0.01m€0.01m€0.01m€0.01m=
Legal reserve130---€0.01m€0.01m€0.01m€0.01m€0.01m=
Tax-exempt reserves132---€0.3m€0.3m€0.2m€0.2m€0.2m▼ 16.4%
Distributable reserves133---€6.8m€7.1m€7.5m€3.4m€3.5m▲ 4.2%
Profit (loss) carried forward14---€0€0€0€0€0-
Provisions and deferred taxes16€0.04m€0.1m€0.1m€0.1m€0.09m€0.08m€0.06m€0.05m▼ 16.4%
Deferred taxes168---€0.1m€0.09m€0.08m€0.06m€0.05m▼ 16.4%
Amounts payable17/49€2.9m€5.1m€2.8m€2.5m€3.0m€2.7m€6.5m€2.4m▼ 62.4%
Amounts payable after more than one year17€1.4m€0.8m€0.2m€0-----
Financial debts170/4---€0-----
Amounts payable within one year42/48€1.6m€4.4m€2.7m€2.5m€3.0m€2.7m€6.4m€2.4m▼ 62.3%
Current portion of amounts payable after more than one year42---€0.2m€0----
Trade debts44€0.8m€0.5m€0.5m€0.6m€0.8m€0.6m€0.5m€0.3m▼ 37.9%
Suppliers440/4---€0.6m€0.8m€0.6m€0.5m€0.3m▼ 37.9%
Advances received on contracts in progress46----€0.07m€0---
Taxes, remuneration and social security45---€0.3m€0.4m€0.3m€0.4m€0.5m▲ 19.3%
Taxes450/3---€0.08m€0.1m€0.08m€0.2m€0.2m▲ 34.5%
Remuneration and social security454/9---€0.2m€0.2m€0.2m€0.3m€0.3m▲ 10.4%
Other amounts payable47/48---€1.4m€1.8m€1.8m€5.6m€1.7m▼ 70.3%
Accrued charges and deferred income492/3---€0.003m€0.001m€0€0.006m€0▼ 100%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€1.4m€1.8m€1.3m€1.8m€2.0m€2.2m€1.4m€1.8m▲ 26.7%
+ Depreciation and write-downs630€0.9m€0.9m€0.8m€0.8m€0.6m€0.6m€0.3m€0.3m▲ 4.6%
Operating cash flow (approximation)€2.3m€2.7m€2.1m€2.6m€2.6m€2.7m€1.7m€2.1m▲ 22.6%
Investment in fixed assets (approximation)--€0.004m-€0.1m-€0.5m-€0.04m-€0.07m-€0.2m-€0.5m▼ 212%
Change in cash-€2.1m-€0.6m-€2.1m€1.3m-€1.1m-€0.07m-€1.9m▼ 2,734%

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Historical observation

In July 2024, 1,579 companies had the same profile as Vika has now. Two years later, 0.1% had gone bankrupt and 96.7% were still going.

  • Medium-sized
  • 20 years or older
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more
0.1% went bankrupt
3.2% stopped otherwise
96.7% was still going

That fits the bankruptcy probability of Vika itself: < 0.1% within 12 months.

Test of the method

The method was tested on the 497,446 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 1,579 companies, not a prediction for Vika. 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.

Latest 10 of 49 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 full format 06-07-2026 2026-00265627 PDF
31-12-2024 abbreviated format 27-06-2025 2025-00212540 PDF
31-12-2023 abbreviated format 12-08-2024 2024-00339519 PDF
31-12-2022 abbreviated format 11-07-2023 2023-00242039 PDF
31-12-2021 abbreviated format 08-06-2022 2022-20049495 PDF
31-12-2020 abbreviated format 01-06-2021 2021-16600187 PDF
31-12-2019 abbreviated format 09-04-2020 2020-09000288 PDF
31-12-2018 abbreviated format 13-06-2019 2019-18400220 PDF
31-12-2017 abbreviated format 19-06-2018 2018-20300123 PDF
31-12-2016 abbreviated format 16-08-2017 2017-43800595 PDF

Show all 49 filings

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