Equity
VOCON paid out €171,186 in dividends. That is 353% of the 2025 profit.
VOCON paid out €171,186 in dividends. That is 353% of the 2025 profit.
The abbreviated format states no turnover.
Of this, €779,780 falls due within a year.
Green is investment, beige is depreciation.
The last five annual accounts were filed 30 to 124 days before the end of the period.
Lower solvency than 85% of companies in specialised construction. Sector median 44.0% · 9,967 companies.
The dashed line is the sector median: 0.3% across 2,647 companies (NACE 43, small).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 43, small). It does better than 13% of them on solvency, 42% on liquidity, 23% on profitability and 10% on growth.
The bankruptcy probability was computed on 09-11-2026 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 31-12-2025.
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).
In July 2024, 4,107 companies had the same profile as VOCON has now. Each dot stands for 11 companies, two years later.
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of VOCON itself: 0.2% within 12 months.
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 4,107 companies, not a prediction for VOCON. 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.
Liquidity is ample, with a current ratio of 2.47 (4.18 in 2024), above the usual 1.5. Short-term debt is 29.3% and cash 2.3% of total assets. However, 87.1% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 50 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| VOCON Mol | €2.7m | €262,978 | 12.9% | - |
| ROB DILLEN Kasterlee | €2.6m | €231,510 | 27.3% | - |
| Power & Control Wetteren | €2.4m | €294,518 | 74.1% | 0.6 |
| KARL TAELMAN Waregem | €2.7m | €321,676 | 30.7% | 2 |
| ELECTROMATIC Lichtervelde | €2.9m | €249,570 | 43.6% | 1 |
| ELEKTRO GODDERIS Diksmuide | €2.7m | €268,241 | 15.4% | - |
| K.L. ELECTRO Geetbets | €2.1m | €262,086 | 28.4% | - |
These companies have the same main activity as VOCON: general electrical installation work (NACE 43211). They are comparable in size and age: total assets between €2.1m and €2.9m, founded between 2004 and 2011.
VOCON files the abbreviated format. That format states no turnover. The gross margin rose from €52,759 in 2008 to €262,978 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.
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