Financials
- Fiscal year
- 2025
- Turnover
- €12.8m
- Profit
- €332,798
- Solvency
- 17.7%
Turnover▲ 4.9%
Net result
20182025
Vinasphalt
ActiveSummary
Vinasphalt has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €866,453 and a net result of €332,798. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 15% of 336 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
Activity
Manufacture of other non-metallic mineral products
NACE 23990
#1 company by total assets in the Brussels-Capital Region, Non-metallic mineral products sector2 sites
Size
€12.8mturnover 2025
- Staff
- 5.8 FTE
- Equity
- €866,453
- Profit
- €332,798
Structure
- Parent
- STADSBADER CONTRACTORS · 100%
Accounts 81 d early0 of 26 deeds read
Why 84- Liquidity: current ratio 1.12, cash €172,300- Equity €866,453 (17.7% of total assets)+ Sector Manufacture of other non-metallic mineral products (NACE 23)+ Figures for FY 2025 (filed 11-05-2026)Show the evidence
Checked score
Score 2025
84
/ 100
Excellent
Probability in this band: under 0.55%
Better than 36% of its sector peers (NACE 23, micro)
Performance against the sector, not lower risk
Financial strength · tick = 2024
Weak
Solvency
43+3
equity 17.7% of total assets
Liquidity
9+1
short-term debt 82.2% · cash 3.5%
Profitability
63-4
return on assets 6.8%
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.2%
12-2024: 0.2%● 0.0% vs 11-2024
01-2025: 0.2%● 0.0% vs 12-2024
02-2025: 0.2%▼ -1.6% vs 01-2025lowest value
03-2025: 0.2%▲ +20.0% vs 02-2025
04-2025: 0.2%▲ +1.8% vs 03-2025
05-2025: 0.2%▼ -1.7% vs 04-2025
06-2025: 0.5%▲ +109% vs 05-2025
07-2025: 0.5%● 0.0% vs 06-2025
08-2025: 0.5%● 0.0% vs 07-2025
09-2025: 0.5%● 0.0% vs 08-2025
10-2025: 0.5%● 0.0% vs 09-2025
11-2025: 0.5%● 0.0% vs 10-2025
12-2025: 0.5%● 0.0% vs 11-2025
01-2026: 0.5%● 0.0% vs 12-2025
02-2026: 0.5%▼ -1.9% vs 01-2026
03-2026: 0.6%▲ +19.2% vs 02-2026
04-2026: 0.6%▲ +1.6% vs 03-2026
05-2026: 0.6%▲ +0.5% vs 04-2026highest value
06-2026: 0.3%▼ -47.0% vs 05-2026
07-2026: 0.3%● 0.0% vs 06-2026
08-2026: 0.3%● 0.0% vs 07-2026
09-2026: 0.3%● 0.0% vs 08-2026
10-2026: 0.3%● 0.0% vs 09-2026
- Liquidity: current ratio 1.12, cash €172,300 raises the probability
- Equity €866,453 (17.7% of total assets) raises the probability
- Sector Manufacture of other non-metallic mineral products (NACE 23) lowers the probability
- Figures for FY 2025 (filed 11-05-2026) lowers the probability
Credit up to €70,000 at 30 days acceptable
Liquidity tight (current ratio 1.12 against 1.07 in 2024; short-term debt: 82.2% and cash: 3.5% of total assets), and 82.3% of the assets are financed with debt.
How it is calculated
The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.
| 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% |
Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 23, micro). Better than this share of them on solvency 22%, liquidity 6%, profitability 37%, growth against the median 81%. That is performance, not lower risk; the band itself always comes from the probability.
Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.
Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 336 sector peers (2025).
NBB · sector comparisonPosition among 336 sector peers
Solvency
better than 15%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €866,453
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 11-05-2026, 81 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
81 d early
2024
85 d early
2023
78 d early
2022
49 d early
2021
80 d early
2020
82 d early
2019
66 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 74 days before the deadline; the sector median for financial year 2024 is 11 days before the deadline, and 34% of the sector filed late.
Checked, nothing found (2)
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. Usually files around 12 May (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
03-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · full…
- Annual accounts filedfiscal year 2024 · full…
- Equity above €500,000Eq €533,655 ▲288%
Key points
- Positive: Company by total assets in the Brussels-Capital Region…in the Checked rankings #1 View
- Positive: Equity rose in 2025from €533,655 to €866,453 ▲ 62.4% View
- Positive: Always filed on timeaccounts within the deadline every year 8 years View
- Controlled by STADSBADER CONTRACTORSultimately: DESIRE STADSBADER 100% View
By topic
Board & ownership
- Parent
- STADSBADER CONTRACTORS · 100%
Network & group
- Group
- DESIRE STADSBADER
Timeline
- Events
- 14
- Since
- 2017
- Next accounts
- by 31-07-2027
- 11-05-2026Annual accounts filed
- 07-05-2025Annual accounts filed
- 31-12-2024Equity above €500,000
Company details
- Sites
- 2
- Legal form
- Public limited company
- Activity
- Manufacture of other non-metallic mineral productsNACE 23990
- Founded
- 14-10-1987
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check Which other companies belong to the same group?DESIRE STADSBADER · 20 companies How does this company compare with its sector?Sector benchmark
Your own company? See how customers, suppliers and banks see it and what to improve first.
Investigating this company? Keep it with today's facts in a case file.