VK ENGINEERING
InactiveInactive; last annual accounts for fiscal year 2024.
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 21-05-2025, 71 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2024
71 d early
2023
20 d early
2022
17 d early
2021
18 d early
2020
29 d early
2019
31 d early
2018
19 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
€26.09M▼ 14.0%
2023 · €30.32M
2019: €24.68M
2021: €23.80M
2022: €27.62M
2023: €30.32M
2019 → 2024
EBIT margin
0.8%▲ 0.9pp
2023 · -0.1%
2019: 2.7%
2021: 9.7%
2022: 0.8%
2023: -0.1%
2019 → 2024
Net result
€3.33M
2023 · €-26.80M
2019: €3.45M
2021: €6.65M
2022: €8.65M
2023: €-26.80M
2019 → 2024
Working capital
€-23.14M
2023 · €9.77M
2019: €5.05M
2021: €3.72M
2022: €-2.27M
2023: €9.77M
2019 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20192021202220232024Trend
Turnover€24.68M-€23.80M▼ 3.6%€27.62M▲ 16.0%€30.32M▲ 9.8%€26.09M▼ 14.0%
Equity€11.06M-€20.90M▲ 88.9%€29.55M▲ 41.4%€2.74M▼ 90.7%€6.07M▲ 121%
Operating result€668k-€2.32M▲ 247%€210k▼ 90.9%€-37k€197k
Net result€3.45M-€6.65M▲ 92.7%€8.65M▲ 30.2%€-26.80M€3.33M
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €197k after a loss of €37k in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €55.91M
Fixed assets
€31.98M ▼ 17.4%
Current assets
€23.93M ▲ 14.7%
Equity and liabilities €55.91M
Equity
€6.07M ▲ 121%
Provisions
€558k ▲ 84.8%
Debt
€49.28M ▼ 12.8%
Debt's share of the balance-sheet total falls from 94.9% to 88.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€421k▲
2023 · €213k
Cash flow
€3.55M▲
2023 · €-26.56M
Current ratio
0.51▼
2023 · 1.88
Quick ratio
0.31▼
2023 · 0.95
Debt to equity
8.12▼
2023 · 20.60
ROE
54.8%▲
2023 · -976.7%
ROA
5.9%▲
2023 · -45.0%
Interest coverage
0.18▲
2023 · 0.09
Debt ≤ 1 year
€47.07M▲
2023 · €11.10M
Income taxes
€26k▼
2023 · €29k
Staff costs
€17.82M▲
2023 · €17.54M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 90 lines
Balance sheet
Code20232024
Assets
Total assets20/58€59.59M€55.91M▼
Fixed assets21/28€38.73M€31.98M▼
Intangible fixed assets21€65k€18k▼
Tangible fixed assets22/27€725k€446k▼
Plant, machinery and equipment23€250k€100k▼
Furniture and vehicles24€237k€165k▼
Other tangible fixed assets26€238k€181k▼
Financial fixed assets28€37.94M€31.52M▼
Affiliated companies280/1€37.85M€31.41M▼
Participating interests280€37.84M€31.41M▼
Amounts receivable281€8k-
Companies linked by participating interests282/3€5k€5k▼
Participating interests282€5k€5k▼
Other financial fixed assets284/8€90k€100k▲
Shares284€3k€3k▲
Amounts receivable and cash guarantees285/8€87k€98k▲
Current assets29/58€20.86M€23.93M▲
Stocks and contracts in progress3€10.36M€9.24M▼
Contracts in progress37€10.36M€9.24M▼
Amounts receivable within one year40/41€7.22M€7.74M▲
Trade receivables40€6.31M€7.62M▲
Other amounts receivable41€912k€113k▼
Cash at bank and in hand54/58€2.48M€6.74M▲
Deferred charges and accrued income490/1€799k€208k▼
Equity and liabilities
Total equity and liabilities10/49€59.59M€55.91M▼
Equity10/15€2.74M€6.07M▲
Contributions10/11€6.05M€6.05M=
Capital10€6.05M€6.05M=
Issued capital100€6.05M€6.05M=
Reserves13€11.41M€11.41M=
Non-distributable reserves130/1€605k€605k=
Legal reserve130€605k€605k=
Tax-exempt reserves132€1k€1k=
Distributable reserves133€10.80M€10.80M=
Profit (loss) carried forward14€-14.71M€-11.39M▲
Provisions and deferred taxes16€302k€558k▲
Provisions for liabilities and charges160/5€302k€558k▲
Other liabilities and charges164/5€302k€558k▲
Amounts payable17/49€56.55M€49.28M▼
Amounts payable after more than one year17€43.13M-
Financial debts170/4€43.13M-
Other loans174€43.13M-
Amounts payable within one year42/48€11.10M€47.07M▲
Current portion of amounts payable after more than one year42-€41.85M
Financial debts43€1.02M-
Credit institutions430/8€1.00M-
Other loans439€21k-
Trade debts44€3.82M€2.19M▼
Suppliers440/4€3.82M€2.19M▼
Advances received on contracts in progress46€1.93M-
Taxes, remuneration and social security45€3.49M€3.02M▼
Taxes450/3€1.00M€615k▼
Remuneration and social security454/9€2.49M€2.41M▼
Other amounts payable47/48€829k€12k▼
Accrued charges and deferred income492/3€2.32M€2.21M▼
Income statement
Code20232024
Operating income70/76A€32.13M€31.88M▼
Turnover70€30.32M€26.09M▼
Change in stocks of work in progress, finished goods and contracts in progress71€748k€-1.12M▼
Other operating income74€992k€6.90M▲
Non-recurring operating income76A€61k€17k▼
Operating charges60/66A€32.16M€31.68M▼
Goods for resale, raw materials and consumables60€5.87M€1.36M▼
Purchases600/8€5.87M€1.36M▼
Services and other goods61€7.96M€11.70M▲
Remuneration, social security and pensions62€17.54M€17.82M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€250k€224k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-591k€48k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€134k€256k▲
Other operating charges640/8€968k€147k▼
Non-recurring operating charges66A€33k€131k▲
Operating profit (loss)9901€-37k€197k▲
Financial income75/76B€663k€6.99M▲
Recurring financial income75€656k€212k▼
Income from financial fixed assets750€577k-
Income from current assets751€49k€211k▲
Other financial income752/9€30k€924▼
Non-recurring financial income76B€7k€6.78M▲
Financial charges65/66B€27.40M€3.83M▼
Recurring financial charges65€2.42M€2.41M▼
Debt charges650€2.39M€2.39M▲
Other financial charges652/9€34k€21k▼
Non-recurring financial charges66B€24.98M€1.42M▼
Profit (loss) for the period before taxes9903€-26.78M€3.35M▲
Income taxes67/77€29k€26k▼
Taxes670/3€29k€26k▼
Profit (loss) for the period9904€-26.80M€3.33M▲
Profit (loss) for the period to be appropriated9905€-26.80M€3.33M▲
Appropriation of the result
Profit (loss) to be appropriated9906€-14.71M€-11.39M▲
Profit (loss) brought forward from the previous period14P€12.09M€-14.71M▼
Social balance
Average headcount (FTE)9087200.6191.1▼
The notes to these accounts (82 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
21-05
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
06-02
State Gazette act
General meeting · Demerger
Capital decrease · Capital · Tim CARNEWAL
06-02
State Gazette act
General meeting · Demerger
Accounting effect
05-02
State Gazette act
General meeting · Merger
Accounting effect · Purpose change · Tim CARNEWAL
05-02
State Gazette act
General meeting · Merger
Accounting effect · Purpose change
05-02
State Gazette act
General meeting · Demerger
Accounting effect · Tim CARNEWAL
05-02
State Gazette act
General meeting · Demerger
Accounting effect
2024
31-12
Financial
Back to profitnet €3.33M
Net result €3.33M after one loss-making year.
31-12
Financial
Equity above €5MEq €6.07M ▲121%
Equity rises from €2.74M to €6.07M.
26-11
State Gazette act
Board meeting · Demerger
Accounting effect · Corporate purpose
26-11
State Gazette act
Board meeting · Demerger
Accounting effect · Corporate purpose
25-11
State Gazette act
Merger · Board meeting
Accounting effect · Corporate purpose
Show earlier events
25-11
State Gazette act
Board meeting · Merger
Accounting effect · Corporate purpose
25-11
State Gazette act
Board meeting · Demerger
Accounting effect · Corporate purpose
25-11
State Gazette act
Demerger · Accounting effect
Corporate purpose · Share transfer
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet €-26.80M ▼410%
Net result drops to €-26.80M, the lowest in the series.
31-12
Financial
Liquidity doublescurrent ratio 1.88
Current ratio from 0.91 to 1.88; short-term debt falls from €25.61M to €11.10M.
14-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2019net €8.65M ▲30.2%
Net result €8.65M, the highest in the series.
31-12
Financial
Equity above €25MEq €29.55M ▲41.4%
3 profitable years in a row build equity to €29.55M.
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
02-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
12-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
13-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
18-04
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
04-05
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Structure & network
Acquisitions and mergers
2 transactionsTaken over by:SWECO BELGIUM
Split off to:VK GLOBAL
Public money · subsidies and aid
Flemish government
2022 to 2025 · 10 entries · 62,028 EUR awarded · 62,028 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | -238,330 EUR | 0 EUR |
| 2024 | 2 | 226,468 EUR | 1,725 EUR |
| 2023 | 3 | 660 EUR | 52,660 EUR |
| 2022 | 3 | 73,230 EUR | 7,643 EUR |
Schemes
Strategisch onderzoekscentrum ICON project (SOC-ICON)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Vlaams opleidingsverlof (VOV)
Onderzoeksproject
Recognitions · licences · registrations
Legal Entity Identifier
549300TJUYEHL2F2RZ84