Vika
ActiveFinancials · 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
In the rankings
#4 oldest company in Wevelgem, Manufacturing sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€2.1m
▲ 42.4%
2025
20182025
Net result
€1.8m
▲ 26.7%
2025
highest quarter of the sector
20182025
Equity
€3.8m
▲ 3.0%
2025
middle half of the sector
20182025
Total assets
€6.3m
▼ 38.3%
2025
middle half of the sector
20182025
Debt
€2.4m
▼ 62.4%
2025
20182025
Working capital
€3.0m
▼ 2.5%
2025
highest quarter of the sector
20182025
Solvency
60.8%
▲ 24.4pp
2025
middle half of the sector
20182025
Current ratio
2.23
▲ 0.76
2025
middle half of the sector
20182025
Return on assets (ROA)
27.9%
▲ 14.3pp
2025
highest quarter of the sector
20182025
Staff (FTE)
53
▼ 0.7%
2025
highest quarter of the sector
20182025
Every figure per financial year
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 operating result for 2025 is 42% higher than in 2024. It is a recovery after the fall in 2024.
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
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
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 54 | 59 | 54 | 55 | 54 |
| full-time | 51 | 55 | 46 | 47 | 46 |
| part-time | 3 | 4 | 8 | 8 | 8 |
| in full-time equivalents | 53.1 | 58 | 52.4 | 53.3 | 52.5 |
| Average over the year, in full-time equivalents | 50.6 | 56.3 | 57.8 | 53.4 | 53 |
| On a permanent contract | 54 | 54 | 50 | 49 | 46 |
| Joined | 30 | 14 | 12 | 19 | 13 |
| Left | 25 | 9 | 17 | 17 | 14 |
| Training hours | 2,747 | 2,682 | 2,675 | 2,521 | 2,513 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| 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
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| 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 | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €12,271 | €10,171 |
| 2024 | 1 | €998 | €998 |
| 2023 | 1 | €280 | €429 |
| 2022 | 3 | €9,712 | €9,681 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| 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% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| 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% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| 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.
Historical observation
In July 2024, 1,579 companies had the same profile as Vika has now. Two years later, 96.7% were still going and 0.1% had gone bankrupt.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
96.7%
was still going
3.2%
stopped otherwise
0.1%
went bankrupt
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.
| 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 | |
| 31-12-2024 | abbreviated format | 27-06-2025 | 2025-00212540 | |
| 31-12-2023 | abbreviated format | 12-08-2024 | 2024-00339519 | |
| 31-12-2022 | abbreviated format | 11-07-2023 | 2023-00242039 | |
| 31-12-2021 | abbreviated format | 08-06-2022 | 2022-20049495 | |
| 31-12-2020 | abbreviated format | 01-06-2021 | 2021-16600187 | |
| 31-12-2019 | abbreviated format | 09-04-2020 | 2020-09000288 | |
| 31-12-2018 | abbreviated format | 13-06-2019 | 2019-18400220 | |
| 31-12-2017 | abbreviated format | 19-06-2018 | 2018-20300123 | |
| 31-12-2016 | abbreviated format | 16-08-2017 | 2017-43800595 |