VINCERE
ActiveSummary
VINCERE has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6.7m and a net result of €240,289. Equity is growing by ~8.5% per year across the filed fiscal years. Its solvency ranks better than 51% of 8765 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability44▼-21
Solvency78▲+4
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €460,000 at 30 days acceptable
Liquidity short (current ratio 0.87 against 0.8 in 2024; short-term debt: 14.3% and cash: 1.3% of total assets), and 46.5% of the assets are financed with debt.
Credit check for your own amount and term
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Signals
Five 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
53.5%
Return on assets
1.9%
Age of the figures
17 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-04-2025 was due by 30-11-2025 and was filed on 20-11-2025, 10 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
10 d early
2024
3 d early
2023
24 d early
2022
on the day
2021
on the day
2020
35 d early
2019
1 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 10 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-04-2026 and is due by 30-11-2026. Nothing is late today. Usually files around 27 November (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-04-2026 close29-09-2026 today30-11-2026 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€6.7m▲ 3.7%
2024 · €6.4m
Total assets
€12.5m▼ 4.2%
2024 · €13.0m
Net result
€240,289
2024 · -€18,906
Working capital
-€231,352▲ 46.5%
2024 · -€432,783
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€128,575▼ 4.8%€1.0m▲ 686%€257,224▼ 74.5%€55,498▼ 78.4%€423,855▲ 664%
Net result€53,068within the sector's middle half▼ 94.7%€2.7mabove the sector's middle half▲ 4,944%€164,298above the sector's middle half▼ 93.9%-€18,906below the sector's middle half€240,289above the sector's middle half
Equity€4.5mabove the sector's middle half▲ 1.1%€6.3mabove the sector's middle half▲ 39.0%€6.5mabove the sector's middle half▲ 2.6%€6.4mabove the sector's middle half▼ 0.3%€6.7mabove the sector's middle half▲ 3.7%
Total assets€6.7mabove the sector's middle half▼ 7.3%€12.7mabove the sector's middle half▲ 89.0%€12.4mabove the sector's middle half▼ 2.2%€13.0mabove the sector's middle half▲ 5.2%€12.5mabove the sector's middle half▼ 4.2%
Debt€2.1m▼ 21.3%€5.9m▲ 176%€5.6m▼ 4.7%€6.3m▲ 11.9%€5.6m▼ 11.7%
Working capital-€501,876below the sector's middle half▲ 58.5%€694,360above the sector's middle half€213,532within the sector's middle half▼ 69.2%-€432,783below the sector's middle half-€231,352below the sector's middle half▲ 46.5%
Solvency67.6%within the sector's middle half▲ 5.6pp49.7%within the sector's middle half▼ 17.9pp52.1%within the sector's middle half▲ 2.4pp49.4%within the sector's middle half▼ 2.7pp53.5%within the sector's middle half▲ 4.1pp
Current ratio0.67within the sector's middle half▲ 0.281.31within the sector's middle half▲ 0.651.12within the sector's middle half▼ 0.190.80within the sector's middle half▼ 0.320.87within the sector's middle half▲ 0.07
Return on assets (ROA)0.8%within the sector's middle half▼ 13.1pp21.1%above the sector's middle half▲ 20.3pp1.3%within the sector's middle half▼ 19.8pp-0.1%below the sector's middle half▼ 1.5pp1.9%within the sector's middle half▲ 2.1pp
Staff (FTE)0.6below the sector's middle half2.1within the sector's middle half▲ 250%1.7within the sector's middle half▼ 19.0%1.5within the sector's middle half▼ 11.8%1.4within the sector's middle half▼ 6.7%
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 664% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €12.5m
Fixed assets
€10.9m ▼ 3.4%
Current assets
€1.6m ▼ 9.3%
Equity and liabilities €12.5m
Equity
€6.7m ▲ 3.7%
Provisions
€251,891 ▼ 16.2%
Debt
€5.6m ▼ 11.7%
Debt's share of the balance-sheet total falls from 48.3% to 44.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€795,268▲
2024 · €551,261
Cash flow
€611,703▲
2024 · €476,858
Quick ratio
0.47▲
2024 · 0.44
Debt to equity
0.83▼
2024 · 0.98
ROE
3.6%▲
2024 · -0.3%
Interest coverage
2.72▼
2024 · 5.60
Debt ≤ 1 year
€1.8m▼
2024 · €2.2m
Debt > 1 year
€3.8m▼
2024 · €4.1m
Income taxes
€49,138▲
2024 · €7,697
Staff costs
€61,259▼
2024 · €85,320
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,039 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 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% 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 17,039 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €0 | €6,600 | €0 | - | - |
| Remuneration, social security and pensions62 | - | €58,254 | €110,245 | €85,320 | €61,259 | ▼ 28.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €95,418 | €249,781 | €577,244 | €495,764 | €371,413 | ▼ 25.1% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | -€50,000 | €0 | - | - |
| Other operating charges640/8 | - | €14,422 | €67,082 | €62,883 | €67,568 | ▲ 7.4% |
| Gross operating margin9900 | €262,361 | €1.3m | €961,795 | €699,465 | €924,094 | ▲ 32.1% |
| Operating profit (loss)9901 | €128,575 | €1.0m | €257,224 | €55,498 | €423,855 | ▲ 664% |
| Financial income75/76B | - | €3.0m | €46,916 | €18,283 | €147,006 | ▲ 704% |
| Recurring financial income75 | €723,004 | €3.0m | €46,916 | €18,283 | €147,006 | ▲ 704% |
| Financial charges65/66B | - | €850,301 | €75,031 | €98,449 | €292,428 | ▲ 197% |
| Recurring financial charges65 | €77,031 | €130,301 | €75,031 | €98,449 | €292,428 | ▲ 197% |
| Non-recurring financial charges66B | - | €720,000 | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | €74,548 | €3.1m | €229,109 | -€24,669 | €278,432 | ▲ 1,229% |
| Transfer from deferred taxes780 | - | €16,884 | €112,239 | €13,460 | €10,995 | ▼ 18.3% |
| Transfer to deferred taxes680 | - | €114,054 | €0 | - | - | - |
| Income taxes67/77 | €21,480 | €371,114 | €177,049 | €7,697 | €49,138 | ▲ 538% |
| Profit (loss) for the period9904 | €53,068 | €2.7m | €164,298 | -€18,906 | €240,289 | ▲ 1,371% |
| Transfer from tax-exempt reserves789 | - | €26,389 | €23,669 | €20,739 | €13,346 | ▼ 35.6% |
| Transfer to tax-exempt reserves689 | - | €342,161 | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €53,068 | €2.4m | €187,967 | €1,833 | €253,636 | ▲ 13,735% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €6.7m | €12.7m | €12.4m | €13.0m | €12.5m | ▼ 4.2% |
| Fixed assets21/28 | €5.7m | €9.8m | €10.5m | €11.3m | €10.9m | ▼ 3.4% |
| Tangible fixed assets22/27 | €2.0m | €9.2m | €9.9m | €10.0m | €9.7m | ▼ 3.1% |
| Land and buildings22 | - | €9.1m | €9.7m | €9.9m | €9.5m | ▼ 3.5% |
| Plant, machinery and equipment23 | - | €124 | €114 | €103 | €93 | ▼ 10.2% |
| Furniture and vehicles24 | - | €117,435 | €128,895 | €110,015 | €147,812 | ▲ 34.4% |
| Other tangible fixed assets26 | - | €29,133 | €29,133 | €29,133 | €29,133 | = |
| Financial fixed assets28 | €3.7m | €581,440 | €581,440 | €1.3m | €1.2m | ▼ 5.4% |
| Current assets29/58 | €1.0m | €2.9m | €1.9m | €1.7m | €1.6m | ▼ 9.3% |
| Stocks and contracts in progress3 | €127,412 | €909,956 | €795,921 | €783,965 | €718,856 | ▼ 8.3% |
| Stocks30/36 | - | €909,956 | €795,921 | €783,965 | €718,856 | ▼ 8.3% |
| Amounts receivable within one year40/41 | €852,299 | €1.6m | €1.0m | €760,629 | €677,054 | ▼ 11.0% |
| Trade receivables40 | - | €65,320 | €295,267 | €478,489 | €36,988 | ▼ 92.3% |
| Other amounts receivable41 | - | €1.5m | €738,115 | €282,139 | €640,066 | ▲ 127% |
| Current investments50/53 | - | €6,200 | €6,200 | €6,200 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €20,999 | €387,128 | €64,177 | €171,505 | €166,459 | ▼ 2.9% |
| Deferred charges and accrued income490/1 | - | €1,066 | €48,083 | €131 | €131 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €6.7m | €12.7m | €12.4m | €13.0m | €12.5m | ▼ 4.2% |
| Equity10/15 | €4.5m | €6.3m | €6.5m | €6.4m | €6.7m | ▲ 3.7% |
| Contributions10/11 | - | €1.6m | €1.6m | €1.6m | €1.6m | = |
| Reserves13 | €291,809 | €3.0m | €3.1m | €3.1m | €3.1m | ▼ 0.4% |
| Non-distributable reserves130/1 | - | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | €0 | - | - | - | - |
| Tax-exempt reserves132 | - | €315,771 | €292,102 | €271,363 | €258,017 | ▼ 4.9% |
| Distributable reserves133 | - | €2.6m | €2.8m | €2.8m | €2.8m | = |
| Profit (loss) carried forward14 | €1.8m | €1.8m | €1.8m | €1.8m | €2.0m | ▲ 14.2% |
| Provisions and deferred taxes16 | €37,551 | €476,136 | €313,897 | €300,437 | €251,891 | ▼ 16.2% |
| Provisions for liabilities and charges160/5 | - | €87,551 | €37,551 | €37,551 | €0 | ▼ 100% |
| Pensions and similar obligations160 | - | €37,551 | €37,551 | €37,551 | €0 | ▼ 100% |
| Other liabilities and charges164/5 | - | €50,000 | €0 | - | - | - |
| Deferred taxes168 | - | €388,585 | €276,346 | €262,886 | €251,891 | ▼ 4.2% |
| Amounts payable17/49 | €2.1m | €5.9m | €5.6m | €6.3m | €5.6m | ▼ 11.7% |
| Amounts payable after more than one year17 | €630,608 | €3.7m | €3.9m | €4.1m | €3.8m | ▼ 8.7% |
| Financial debts170/4 | - | €3.7m | €3.9m | €3.4m | €3.1m | ▼ 10.5% |
| Other amounts payable178/9 | - | - | - | €682,155 | €682,052 | = |
| Amounts payable within one year42/48 | €1.5m | €2.2m | €1.7m | €2.2m | €1.8m | ▼ 16.8% |
| Current portion of amounts payable after more than one year42 | - | €489,597 | €426,229 | €386,714 | €397,890 | ▲ 2.9% |
| Financial debts43 | - | €507,799 | €146,730 | €0 | - | - |
| Credit institutions430/8 | - | €507,799 | €146,730 | €0 | - | - |
| Trade debts44 | €10,027 | €35,764 | €238,339 | €74,202 | €50,219 | ▼ 32.3% |
| Suppliers440/4 | - | €35,764 | €238,339 | €74,202 | €50,219 | ▼ 32.3% |
| Advances received on contracts in progress46 | - | - | - | - | €57,750 | - |
| Taxes, remuneration and social security45 | - | €361,480 | €249,624 | €55,972 | €209,434 | ▲ 274% |
| Taxes450/3 | - | €357,827 | €232,308 | €38,002 | €195,554 | ▲ 415% |
| Remuneration and social security454/9 | - | €3,653 | €17,316 | €17,970 | €13,880 | ▼ 22.8% |
| Other amounts payable47/48 | - | €810,868 | €673,308 | €1.6m | €1.1m | ▼ 34.2% |
| Accrued charges and deferred income492/3 | - | €19,740 | €10,869 | €26,044 | €12,775 | ▼ 50.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €53,068 | €2.7m | €164,298 | -€18,906 | €240,289 | ▲ 1,371% |
| + Depreciation and write-downs630 | €95,418 | €249,781 | €577,244 | €495,764 | €371,413 | ▼ 25.1% |
| Operating cash flow (approximation) | €148,486 | €2.9m | €741,542 | €476,858 | €611,703 | ▲ 28.3% |
| Investment in fixed assets (approximation) | - | -€4.3m | -€1.3m | -€1.4m | €11,004 | ▲ 101% |
| Change in cash | - | €366,129 | -€322,951 | €107,328 | -€5,046 | ▼ 105% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
03-07
State Gazette act
Reappointment: Vincent Titeca (non-statutory director)2 facts ▸
State Gazette act
Reappointment: Vincent Titeca (non-statutory director)
2 facts ▸
- General meeting, 23-06-2026
- Director reappointment, Vincent Titeca (non-statutory director)
2025
20-11
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
30-04
Financial
Back to profitnet €240,289
Net result €240,289 after one loss-making year.
2024
27-11
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
30-04
Financial
Weakest financial yearnet -€18,906
Net result drops to -€18,906, the lowest in the series; recovery starts the following year.
2023
06-11
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
30-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
30-04
Financial
Highest result since 2019net €2.7m ▲4,944%
Operating result €1.0m, net result €2.7m, both a record.
30-04
Financial
Equity above €5mEq €6.3m ▲39%
4 profitable years in a row build equity to €6.3m.
2021
30-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
26-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
29-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2018
30-11
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
30-11
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
30-11
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 12 acts read
About the unread acts
Of the 12 Belgian State Gazette acts we know for this company, 1 has been read. The other 11 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Vincent Titeca
CurrentNon-statutory director · since 26-06-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
11 of this company's 12 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, Roeselare · 2 establishment units since 1990
Ground area
2,235 m²
Building footprint
851 m²
Volume, LiDAR
7,064 m³
2 parcels, Flanders · tallest building 13.9 m, ±4 floors. Linked by address, not a title deed.
22
companies at this address
See who is registered here
2 establishment units
VINCERE CVBA
since 19902.048.809.056
Imfiro ART
since 20222.335.604.897
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36504D0814/00K000 | Flanders | 1,681 m² | 1 · 545 m² | 13.9 m · 4 fl. |
| 36016B0269/00P000 | Flanders | 554 m² | 1 · 306 m² | 9.3 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Vincent Titeca |
|
Structure & network
Owners and holdings
8 holdingsOwners 0
The accounts to 30-04-2025 list no shareholders, and no other source names one.
Holdings 8
-
50%
-
50%
-
33.33%
-
33.22%
-
25%
-
12.5%
-
10%
-
10%
According to the annual accounts to 30-04-2025 of VINCERE and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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Public money · subsidies and aid
Flemish government
2025 · 2 entries · 3,487 EUR awarded · 3,487 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 3,487 EUR | 3,487 EUR |
Recognitions · licences · registrations
Food safety, FASFC
1 siteLedegem
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Of 82,646 companies in sector 70200 we hold annual accounts for 52,627. 9,179 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded29-06-1990
Fiscal year end30-04
Activities, NACEBEL 2025
68121Development of residential building projects
70200Business and other management consultancy
46190Agents in non-specialised wholesale trade
47789Other retail sale of new goods
68201Renting and operating of own or leased residential real estate, excluding social housing
68310Real estate agency activities
82100Office administrative and support services
82300Organisation of conventions and trade shows
E-invoicing
Reachable via Peppol
Peppol ID
0208:0440906174
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.