VLAECO
ActiveSummary
VLAECO has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €19.5m and a net result of €71,792. Equity is shrinking by ~5.6% per year across the filed fiscal years. Its solvency ranks better than 77% of 4814 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability38▼-18
Solvency94▲+9
Growth61▲+21
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €150,000 at 30 days acceptable
Liquidity tight (current ratio 1.2 against 1.03 in 2023; short-term debt: 30.7% and cash: 4.5% of total assets), and 30.8% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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 2024Solvency, return and age of the figures
Solvency
69.2%
Return on assets
0.3%
Age of the figures
21 mo
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €19.5m
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 17-06-2025, 44 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
44 d early
2023
42 d early
2022
41 d early
2021
45 d early
2020
45 d early
2019
32 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 42 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
In the rankings
#1 company by equity in Stabroek, Real estate sector#2 company by total assets in Stabroek, Real estate sector#9 oldest company in Stabroek, Real estate sector
Turnover
€1.5m▲ 188%
2023 · €537,180
EBIT margin
84.8%▲ 16.9pp
2023 · 67.9%
Net result
€71,792▼ 97.0%
2023 · €2.4m
Working capital
€1.7m▲ 364%
2023 · €365,629
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate 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
Line20202021202220232024
Turnover€1.8m▲ 12.1%€1.1m▼ 36.8%€939,965▼ 17.0%€537,180▼ 42.9%€1.5m▲ 188%
Operating result€1.4m▲ 83.0%€689,371▼ 50.2%€363,474▼ 47.3%€364,755▲ 0.4%€1.3m▲ 259%
Net result-€896,666below the sector's middle half€91,450within the sector's middle half-€491,013below the sector's middle half€2.4mabove the sector's middle half€71,792within the sector's middle half▼ 97.0%
EBIT margin77.3%▲ 29.9pp60.9%▼ 16.4pp38.7%▼ 22.2pp67.9%▲ 29.2pp84.8%▲ 16.9pp
Equity€25.6mabove the sector's middle half▼ 3.4%€25.7mabove the sector's middle half▲ 0.4%€17.1mabove the sector's middle half▼ 33.6%€19.5mabove the sector's middle half▲ 14.1%€19.5mabove the sector's middle half▲ 0.4%
Total assets€58.0mabove the sector's middle half▲ 12.8%€52.3mabove the sector's middle half▼ 9.8%€30.4mabove the sector's middle half▼ 41.8%€32.7mabove the sector's middle half▲ 7.4%€28.2mabove the sector's middle half▼ 13.6%
Debt€32.3m▲ 29.9%€26.6m▼ 17.9%€13.3m▼ 49.8%€13.2m▼ 1.1%€8.7m▼ 34.2%
Working capital€4.3m€3.9m▼ 7.9%-€3.2m€365,629€1.7m▲ 364%
Solvency44.2%within the sector's middle half▼ 7.4pp49.2%within the sector's middle half▲ 5.0pp56.1%within the sector's middle half▲ 6.9pp59.6%within the sector's middle half▲ 3.5pp69.2%above the sector's middle half▲ 9.6pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 259% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €28.2m
Fixed assets
€17.9m ▼ 8.7%
Current assets
€10.4m ▼ 20.9%
Equity and liabilities €28.2m
Equity
€19.5m ▲ 0.4%
Debt
€8.7m ▼ 34.2%
Debt's share of the balance-sheet total falls from 40.4% to 30.8%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
1.20▲
2023 · 1.03
Quick ratio
0.78▲
2023 · 0.74
Debt to equity
0.44▼
2023 · 0.68
ROE
0.4%▼
2023 · 12.4%
ROA
0.3%▼
2023 · 7.4%
Debt ≤ 1 year
€8.7m▼
2023 · €12.7m
Income taxes
€273,227▲
2023 · €28,823
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €701,877 | €939,965 | €537,180 | €1.6m | ▲ 197% |
| Turnover70 | €1.8m | €1.1m | €939,965 | €537,180 | €1.5m | ▲ 188% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | -€439,781 | - | - | - | - |
| Other operating income74 | - | - | - | - | €50,000 | - |
| Non-recurring operating income76A | - | €9,429 | - | - | - | - |
| Operating charges60/66A | - | €12,506 | €576,491 | €172,425 | €285,189 | ▲ 65.4% |
| Goods for resale, raw materials and consumables60 | - | - | €541,582 | €152,738 | €120,586 | ▼ 21.1% |
| Change in stocks: decrease (increase)609 | - | - | €541,582 | €152,738 | €120,586 | ▼ 21.1% |
| Services and other goods61 | - | €7,722 | €28,924 | €13,578 | €157,868 | ▲ 1,063% |
| Other operating charges640/8 | - | €4,784 | €5,985 | €6,108 | €6,735 | ▲ 10.3% |
| Operating profit (loss)9901 | €1.4m | €689,371 | €363,474 | €364,755 | €1.3m | ▲ 259% |
| Financial income75/76B | - | €1.1m | €487,586 | €3.3m | €1.3m | ▼ 60.9% |
| Recurring financial income75 | €360,600 | €1.1m | €487,586 | €3.3m | €1.3m | ▼ 60.9% |
| Income from financial fixed assets750 | - | €1.1m | €487,586 | €3.0m | €960,000 | ▼ 68.0% |
| Income from current assets751 | - | - | - | €334,773 | €344,952 | ▲ 3.0% |
| Financial charges65/66B | - | €1.5m | €1.2m | €1.3m | €2.3m | ▲ 80.2% |
| Recurring financial charges65 | €407,668 | €1.0m | €439,078 | €584,236 | €569,273 | ▼ 2.6% |
| Debt charges650 | €398,053 | €1.0m | €436,606 | €581,136 | €564,912 | ▼ 2.8% |
| Other financial charges652/9 | - | €6,129 | €2,472 | €3,100 | €4,361 | ▲ 40.7% |
| Non-recurring financial charges66B | - | €500,000 | €800,000 | €675,000 | €1.7m | ▲ 152% |
| Profit (loss) for the period before taxes9903 | -€562,221 | €299,000 | -€388,017 | €2.4m | €345,019 | ▼ 85.9% |
| Income taxes67/77 | €334,445 | €207,550 | €102,996 | €28,823 | €273,227 | ▲ 848% |
| Taxes670/3 | - | €209,500 | €102,996 | €28,823 | €273,227 | ▲ 848% |
| Tax adjustments and reversals of tax provisions77 | - | €1,950 | €0 | - | - | - |
| Profit (loss) for the period9904 | -€896,666 | €91,450 | -€491,013 | €2.4m | €71,792 | ▼ 97.0% |
| Profit (loss) for the period to be appropriated9905 | -€896,666 | €91,450 | -€491,013 | €2.4m | €71,792 | ▼ 97.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €58.0m | €52.3m | €30.4m | €32.7m | €28.2m | ▼ 13.6% |
| Fixed assets21/28 | €36.2m | €33.6m | €20.3m | €19.6m | €17.9m | ▼ 8.7% |
| Financial fixed assets28 | €36.2m | €33.6m | €20.3m | €19.6m | €17.9m | ▼ 8.7% |
| Affiliated companies280/1 | - | €33.6m | €20.3m | €19.6m | €17.9m | ▼ 8.7% |
| Participating interests280 | - | €25.9m | €20.3m | €19.6m | €17.9m | ▼ 8.7% |
| Amounts receivable281 | - | €7.7m | - | - | - | - |
| Current assets29/58 | €21.8m | €18.7m | €10.2m | €13.1m | €10.4m | ▼ 20.9% |
| Amounts receivable after more than one year29 | - | €92,332 | - | - | - | - |
| Other amounts receivable291 | - | €92,332 | - | - | - | - |
| Stocks and contracts in progress3 | €4.9m | €4.4m | €3.9m | €3.7m | €3.6m | ▼ 3.2% |
| Stocks30/36 | - | €4.4m | €3.9m | €3.7m | €3.6m | ▼ 3.2% |
| Property held for sale35 | - | €4.4m | €3.9m | €3.7m | €3.6m | ▼ 3.2% |
| Amounts receivable within one year40/41 | €14.4m | €13.8m | €5.7m | €7.7m | €5.5m | ▼ 28.3% |
| Trade receivables40 | - | - | €2,262 | €197 | - | - |
| Other amounts receivable41 | - | €13.8m | €5.7m | €7.7m | €5.5m | ▼ 28.3% |
| Cash at bank and in hand54/58 | €2.5m | €333,965 | €554,413 | €1.7m | €1.3m | ▼ 26.2% |
| Deferred charges and accrued income490/1 | - | €8,524 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €58.0m | €52.3m | €30.4m | €32.7m | €28.2m | ▼ 13.6% |
| Equity10/15 | €25.6m | €25.7m | €17.1m | €19.5m | €19.5m | ▲ 0.4% |
| Contributions10/11 | €15.0m | €15.0m | €10.3m | €10.3m | €10.3m | = |
| Capital10 | - | €15.0m | €10.3m | €10.3m | €10.3m | = |
| Issued capital100 | - | €15.0m | €10.3m | €10.3m | €10.3m | = |
| Reserves13 | €16.3m | €16.3m | €11.2m | €11.2m | €11.2m | = |
| Non-distributable reserves130/1 | - | €824,891 | €566,226 | €566,226 | €566,226 | = |
| Legal reserve130 | - | €824,891 | €566,226 | €566,226 | €566,226 | = |
| Distributable reserves133 | - | €15.5m | €10.6m | €10.6m | €10.6m | = |
| Profit (loss) carried forward14 | -€5.7m | -€5.6m | -€4.4m | -€2.0m | -€2.0m | ▲ 3.5% |
| Amounts payable17/49 | €32.3m | €26.6m | €13.3m | €13.2m | €8.7m | ▼ 34.2% |
| Amounts payable after more than one year17 | €14.8m | €11.8m | - | €400,000 | - | - |
| Financial debts170/4 | - | €11.8m | - | €400,000 | - | - |
| Subordinated loans170 | - | €11.8m | - | €400,000 | - | - |
| Amounts payable within one year42/48 | €17.5m | €14.7m | €13.3m | €12.7m | €8.7m | ▼ 31.9% |
| Financial debts43 | - | €14.5m | €13.2m | €12.6m | €8.6m | ▼ 32.2% |
| Credit institutions430/8 | - | €10.4m | €9.5m | €9.5m | €5.7m | ▼ 39.9% |
| Other loans439 | - | €4.1m | €3.7m | €3.1m | €2.9m | ▼ 9.0% |
| Trade debts44 | €11,926 | €5,941 | €30,375 | €6,205 | €10,007 | ▲ 61.3% |
| Suppliers440/4 | - | €5,941 | €30,375 | €6,205 | €10,007 | ▲ 61.3% |
| Taxes, remuneration and social security45 | - | €61,795 | €86,841 | €91,813 | €86,605 | ▼ 5.7% |
| Taxes450/3 | - | €61,795 | €86,841 | €91,813 | €86,605 | ▼ 5.7% |
| Other amounts payable47/48 | - | €197,855 | - | - | - | - |
| Accrued charges and deferred income492/3 | - | €15,522 | €3,973 | €69,327 | €26,825 | ▼ 61.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€896,666 | €91,450 | -€491,013 | €2.4m | €71,792 | ▼ 97.0% |
| Operating cash flow (approximation) | -€896,666 | €91,450 | -€491,013 | €2.4m | €71,792 | ▼ 97.0% |
| Investment in fixed assets (approximation) | - | €2.6m | €13.3m | €675,000 | €1.7m | ▲ 152% |
| Change in cash | - | -€2.2m | €220,448 | €1.2m | -€448,401 | ▼ 139% |
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
2025
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
19-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Back to profitnet €2.4m
Net result €2.4m after one loss-making year.
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
16-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €91,450
Net result €91,450 after one loss-making year.
16-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Back to profitnet €553,968
Net result €553,968 after one loss-making year.
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
28-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 16 acts read
About the unread acts
We know of 16 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
16 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Stabroek · 1 establishment unit since 2001
Ground area
5.1 ha
Building footprint
9,238 m²
Parcel 11044C0025/00G000, Flanders. Linked by address, not a title deed.
43
companies at this address
See who is registered here
1 establishment unit
Laageind 91, 2940 Stabroek
since 20012.097.754.068
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11044C0025/00G000 | Flanders | 5.1 ha | 1 · 9,238 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
2 owners · 5 holdingsOwners 2
-
50%
-
50%
Holdings 5
-
100%
-
100%
-
100%
-
100%
-
66.59%
According to the 2024 annual accounts of VLAECO 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
No current directors or connected companies found in the register.
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Identification & contact
Identification
Legal formPublic limited company
Founded21-12-2000
Fiscal year end31-12
Activities, NACEBEL 2025
68122Development of non-residential building projects
E-invoicing
Reachable via Peppol
Peppol ID
0208:0473589830
Also
9925:BE0473589830
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.