Equity
€14.9m
VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3 has made a profit without a break since 2017.
VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3
Lifetime
9 annual accounts with figures on one time axispeak €51.0m (2023)
€34.9m
lowest -€94,788 (2016)
€1.2m
peak €14.9m (2025)
€14.9m
€73.7m
Board7 names since 2019
1 directorSTEVERLYNCK Bernard
Owners3 names in the annual accounts
50%ASPIRAVI and 2 others
Documentsfilings and deeds
30-03-202631 days before the deadline
2025financial year
Permanent representative: Ellen Tindemans 15-12No figures for the year before
Key points
from the 2025 annual accountsDebts
€73.7m 81% of the balance sheet
Financial debts 81%Suppliers 4%Other 15%
€64.3m of the debts are secured on the company's own assets. In 2021 that was €98.5m.
Investments
€9,598 0.0 × depreciation
Green is investment, beige is depreciation.
Filings
9 annual accounts 1 late
The 2023 accounts came 21 days late. The other eight were filed on time.
At the same address
6 companies
Position in the sector
€14.9m
More equity than 80% of companies in electricity, gas and steam. Sector median €2.3m · 352 companies.
Checked score
96
Excellent
Financially stronger than 68% of large companies in electricity, gas and steam (NACE 35)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 54 companies (NACE 35, large).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.3%▲ +0.1 percentage points vs 06-2025
08-2025: 0.4%▲ +0.1 percentage points vs 07-2025
09-2025: 0.5%▲ +0.1 percentage points vs 08-2025
10-2025: 1.2%▲ +0.7 percentage points vs 09-2025
11-2025: 1.3%▲ +0.1 percentage points vs 10-2025
12-2025: 1.5%▲ +0.2 percentage points vs 11-2025
01-2026: 2.2%▲ +0.7 percentage points vs 12-2025
02-2026: 2.2%● unchanged vs 01-2026
03-2026: 2.2%● unchanged vs 02-2026highest value
04-2026: 0.1%▼ -2.1 percentage points vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.1%● unchanged vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026
10-2026: 0.1%● unchanged vs 09-2026lowest value
11-2026: 0.1%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
lowers risk
Size: turnover €34.9m, total assets €90.6m
Figures for financial year 2025 (filed on 31-03-2026)
Founded in 2016
Legal form: public limited company
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 35, large). It does better than 41% of them on solvency, 91% on liquidity and 72% on profitability.
The bankruptcy probability was computed on 06-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 30-09-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 273 companies had the same profile as VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3 has now. Each dot is one company, two years later.
98.2%
were still trading
1.1%
stopped another way
0.7%
went bankrupt
That fits the bankruptcy probability of VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3 itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 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 273 companies, not a prediction for VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3. 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.
Credit verdict
Credit of up to €1,400,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.08 (0.94 in 2023), below the usual 1.5. Short-term debt is 14% and cash 10.8% of total assets. 83.5% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
5 signals, none raises the risk
Five signals.
lowers riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-03-2026, 31 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
31 days early
2023
21 days late
2022
96 days early
2021
109 days early
2020
128 days early
2019
102 days early
2018
84 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 76 days before the deadline. In the sector (NACE 35), the median for financial year 2023 was 22 days before the deadline, and 24% of those companies filed late.
Searched, nothing found (1)
Board and ownership
- Aspiravi Holding NV consolidatesequity €355.2m (2025) · annual accounts 30-09-2025
- ASPIRAVI 50%score 87equity €108.5m (2025) · 2025 annual accounts of ASPIRAVI
- POLDERS INVESTERINGSFONDS 50%equity €44.9m (2025) · 2025 annual accounts of POLDERS INVESTERINGSFONDS
Recent changes
Appointment: VAN DE VYVER & PARMENTIER Bedrijfsrevisoren (statutory auditor)
Permanent representative: Maximilien VAN DE VYVER · General meeting of 25-09-2026 · Gazette deed
Permanent representative: Ellen Tindemans
Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0648714917
Appointment: STEVERLYNCK Bernard (class B director)
Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3 Antwerp | €34.9m | 12.7% | 16.5% | - |
| A&U Energie Oostrozebeke | €27.8m | 13.8% | 14.3% | - |
| WIND AAN DE STROOM 2013 Beveren-Kruibeke-Zwijndrecht | €15.0m | 7.7% | 23.2% | - |
| GREEN4POWER Liège | €13.0m | 18.4% | 11.7% | - |
| Gentse Warmte Centrale Mechelen | €12.2m | - | -10.9% | - |
| BELGIAN ECO ENERGY Mechelen | €30.0m | 11.3% | 47.3% | 11.2 |
| LIMBURG WIN(D)T Hasselt | €23.0m | 24.7% | 10.7% | - |
Grey: the largest companies of the sector (electricity, gas and steam (NACE 35)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3: production of electricity from non-renewable sources (NACE 35110). They are comparable in size and age: total assets between €24m and €123m, founded between 2009 and 2017.
Official details
Source: KBO- Status
- Active since 15-02-2016Normal situation
- Activity
- Production of electricity from non-renewable sourcesNACE 35110
- Establishment units
- 2.250.985.3642000 Antwerp, since 15-02-2016
- 2.272.717.0272940 Stabroek, since 02-02-2018
- Financial year end
- 30 September
- Peppol
- Reachable since 22-05-2025
Annual accounts to 30-09-2025
- €90.6m
- Filing
- Filed on 30-03-2026, 31 days before the end of the filing period
Insights on VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3
VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3 has existed since 2016. Turnover grew from €22.8m in 2019 to €34.9m in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3
- What is the company number of VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3?
- The company number of VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3 is 0648.714.917. The VAT number is the same number with BE in front: BE 0648.714.917.
- Where is VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3 based?
- The registered office is at Amsterdamstraat 18, 2000 Antwerp.Company details
- What does VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3 do?
- According to the KBO register, the main activity is production of electricity from non-renewable sources (NACE 35110).
- What is the legal form of VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3?
- VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3 is a public limited company (NV).
- When was VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3 founded?
- VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3 was founded on 15-02-2016.
- Is VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3 still active?
- Yes, VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3 is an active enterprise in the KBO register.
- What is the turnover of VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3?
- The turnover of VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3 was €34.9m in financial year 2025, according to the filed annual accounts.Financials
- Is VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3 profitable?
- In financial year 2025, VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3 made a profit of €1.2m.
- Where can I find the annual accounts of VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3?
- VLAAMSE ECOLOGIE-ENERGIE- EN MILIEUONDERNEMING 3 filed 9 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
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