VYNCKE
ActiveSummary
VYNCKE has been active since 1992 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €15.3m and a net result of €4.1m. Equity remains stable across the filed financial years (±2.5% per year). Its solvency ranks better than 15% of 886 sector peers (NACE 71, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Activity
Engineering and related technical consultancy, excluding land surveyors
NACE 71121
Largest company by total assets in Harelbeke, Professional and technical services sector1 site
Size
€152.6mturnover 2025
- Staff
- 170.2 FTE
- Equity
- €15.3m
- Profit
- €4.1m
Structure
- Parent
- VYNCKE - A Family of Companies · 100%
- Board
- 5 members
Auditor: Ernst & Young Bedrijfsrevisoren BV2025 accounts 17 days early8 of 25 deeds summarised
Why 91raises riskEquity €15.3m (7.4% of total assets)lowers riskLiquidity: current ratio 1.15, cash €45.3mSize: turnover €152.6m, 170.2 FTE, total assets €205.6mSector: Architectural and engineering activities; technical testing and analysis (NACE 71)Show the evidence
Checked score
Score 2025
91
/ 100
Excellent
Probability in this band: under 0.55%
Financially better than 29% of its sector peers (NACE 71, medium-sized)
Financial strength · tick = 2024
Weak
Solvency
32-2
equity 7.4% of total assets
Liquidity
30+5
short-term debt 86.3% · cash 22.0%
Profitability
58+1
return on assets 2.0%
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.1%
12-2024: 0.1%● unchanged vs 11-2024
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025lowest value
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025highest value
09-2025: 0.1%● unchanged vs 08-2025highest value
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged 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 09-2026
Credit of up to €1,350,000 on 30-day terms is acceptable
Liquidity tight (current ratio 1.15, compared with 1.16 in 2024, below the usual 1.5; short-term debt: 86.3% and cash: 22% of total assets), and 92.6% of the assets are financed with debt and provisions.
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 71, medium-sized): better than 13% on solvency, 27% on liquidity, 45% on profitability and 32% on growth.
The bankruptcy probability was computed on 28-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 886 sector peers (2025).
NBB · sector comparisonPosition among 886 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-07-2026, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 days early
2024
31 days early
2023
22 days early
2022
32 days early
2021
18 days early
2020
18 days early
2019
14 days 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 22 days before the deadline; the sector median (NACE 71) for financial year 2024 is 8 days before the deadline, and 34% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 10 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
29-10-2026 today31-12-2026 year end31-07-2027 deadline
- Permanent representatives: Vyncke Dieter, Vyncke Peter…Correction · Power of attorney
- Annual accounts filedfinancial year 2025 · full…
- Reappointments: Vyncke 3F, Vyncke - A…Permanent representatives: Vyncke Dieter, Vyncke…
Financials · financial year 2025, full format
In the rankings
#1 company by total assets in Harelbeke, Professional and technical services sector#6 employer in West Flanders, Architecture and engineering sector#7 company by equity in Harelbeke, Professional and technical services sector
Turnover
€152.6m▼ 10.8%
2024 · €171.1m
EBIT margin
2.4%▲ 0.5pp
2024 · 1.9%
Net result
€4.1m▲ 5.1%
2024 · €3.9m
Working capital
€25.9m▲ 7.0%
2024 · €24.2m
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 10% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€152.6m
2025
Operating result€3.6m
2025
Net result€4.1m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€205.6m
2025
Equity€15.3m
2025
Debt€186.3m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€25.9m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin2.4%
2025
Return on assets (ROA)2.0%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency7.4%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.15
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)170.2
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 71, Architectural and engineering activities; technical testing and analysis: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€85.6m-€134.1m▲ 56.8%€105.3m▼ 21.5%€106.4m▲ 1.1%€111.8m▲ 5.0%€193.7m▲ 73.3%€171.1m▼ 11.7%€152.6m▼ 10.8%
Operating result€5.4m-€4.3m▼ 20.6%€7.1m▲ 66.3%€6.7m▼ 6.4%€1.5m▼ 78.2%€8.8m▲ 508%€3.3m▼ 63.1%€3.6m▲ 10.5%
Net result€2.7m-€1.0m▼ 63.2%€5.7mabove the sector's middle half▲ 466%€5.7mabove the sector's middle half▼ 0.6%€1.4mabove the sector's middle half▼ 76.1%€8.8mabove the sector's middle half▲ 544%€3.9mabove the sector's middle half▼ 55.9%€4.1mabove the sector's middle half▲ 5.1%
EBIT margin6.3%-3.2%▼ 3.1pp6.8%▲ 3.6pp6.3%▼ 0.5pp1.3%▼ 5.0pp4.6%▲ 3.3pp1.9%▼ 2.6pp2.4%▲ 0.5pp
Equity€12.7m-€12.9m▲ 1.6%€14.1mabove the sector's middle half▲ 9.4%€15.3mabove the sector's middle half▲ 8.3%€15.3mabove the sector's middle half▲ 0.1%€15.3mabove the sector's middle half▲ 0.1%€15.2mabove the sector's middle half▼ 0.9%€15.3mabove the sector's middle half▲ 0.4%
Total assets€104.6m-€128.9m▲ 23.2%€94.9mabove the sector's middle half▼ 26.3%€117.2mabove the sector's middle half▲ 23.5%€148.1mabove the sector's middle half▲ 26.3%€148.7mabove the sector's middle half▲ 0.4%€177.9mabove the sector's middle half▲ 19.6%€205.6mabove the sector's middle half▲ 15.6%
Debt€89.9m-€112.8m▲ 25.6%€78.2m▼ 30.6%€99.4m▲ 27.0%€129.4m▲ 30.2%€127.9m▼ 1.2%€158.9m▲ 24.2%€186.3m▲ 17.2%
Working capital€15.1m-€20.5m▲ 35.6%€17.2mabove the sector's middle half▼ 15.9%€18.8mabove the sector's middle half▲ 9.2%€23.8mabove the sector's middle half▲ 26.4%€29.0mabove the sector's middle half▲ 22.0%€24.2mabove the sector's middle half▼ 16.5%€25.9mabove the sector's middle half▲ 7.0%
Solvency12.2%-10.0%▼ 2.1pp14.9%below the sector's middle half▲ 4.9pp13.1%below the sector's middle half▼ 1.8pp10.4%below the sector's middle half▼ 2.7pp10.3%below the sector's middle half=8.6%below the sector's middle half▼ 1.8pp7.4%below the sector's middle half▼ 1.1pp
Current ratio1.17-1.19▲ 0.021.22within the sector's middle half▲ 0.031.19within the sector's middle half▼ 0.031.19within the sector's middle half=1.24within the sector's middle half▲ 0.051.16within the sector's middle half▼ 0.091.15within the sector's middle half▼ 0.01
Return on assets (ROA)2.6%-0.8%▼ 1.8pp6.0%within the sector's middle half▲ 5.2pp4.8%within the sector's middle half▼ 1.2pp0.9%within the sector's middle half▼ 3.9pp5.9%within the sector's middle half▲ 5.0pp2.2%within the sector's middle half▼ 3.7pp2.0%within the sector's middle half▼ 0.2pp
Staff (FTE)112.3-123▲ 9.5%123above the sector's middle half=119.6above the sector's middle half▼ 2.8%129.2above the sector's middle half▲ 8.0%138.9above the sector's middle half▲ 7.5%153.9above the sector's middle half▲ 10.8%170.2above the sector's middle half▲ 10.6%
above
within
below
the middle half of NACE 71, Architectural and engineering activities; technical testing and analysis: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €205.6m
Fixed assets
€2.3m ▲ 8.9%
Current assets
€203.4m ▲ 15.7%
Equity and liabilities €205.6m
Equity
€15.3m ▲ 0.4%
Provisions
€4.0m ▲ 7.0%
Debt
€186.3m ▲ 17.2%
Debt's share of the balance-sheet total rises from 89.3% to 90.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€4.0m▲
2024 · €3.6m
Cash flow
€4.5m▲
2024 · €4.2m
Quick ratio
1.08▼
2024 · 1.11
Debt to equity
12.19▲
2024 · 10.45
ROE
26.6%▲
2024 · 25.4%
Interest coverage
13.90▼
2024 · 25.00
Debt ≤ 1 year
€177.5m▲
2024 · €151.6m
Income taxes
€37,519▼
2024 · €436,285
Staff costs
€18.8m▲
2024 · €16.5m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 208 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 99.0% are still going.
- Medium-sized
- 20 years or older
- solvency under 10%
- a profit under 5% of the balance sheet
0.5%
went bankrupt
0.0%
stopped otherwise
99.0%
still going
A further 0.5% 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 497,445 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% | 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 208 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 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €92.3m | €150.5m | €195.9m | €158.1m | €151.7m | ▼ 4.0% |
| Turnover70 | €85.6m | €134.1m | €105.3m | €106.4m | €111.8m | €193.7m | €171.1m | €152.6m | ▼ 10.8% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | -€14.9m | €37.6m | €1.4m | -€15.0m | -€2.4m | ▲ 84.2% |
| Other operating income74 | - | - | - | €0.8m | €1.2m | €0.8m | €2.0m | €1.5m | ▼ 23.7% |
| Non-recurring operating income76A | - | - | - | - | - | €0.01m | €0.001m | €0 | ▼ 100% |
| Operating charges60/66A | - | - | - | €85.7m | €149.0m | €187.1m | €154.8m | €148.1m | ▼ 4.3% |
| Goods for resale, raw materials and consumables60 | - | - | - | €58.1m | €114.8m | €146.1m | €111.9m | €96.1m | ▼ 14.1% |
| Purchases600/8 | - | - | - | €58.1m | €114.6m | €148.6m | €108.6m | €100.2m | ▼ 7.7% |
| Change in stocks: decrease (increase)609 | - | - | - | -€0.04m | €0.2m | -€2.5m | €3.3m | -€4.1m | - |
| Services and other goods61 | - | - | - | €15.3m | €20.5m | €24.7m | €27.3m | €31.2m | ▲ 14.5% |
| Remuneration, social security and pensions62 | - | - | - | €11.2m | €12.3m | €13.9m | €16.5m | €18.8m | ▲ 13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.2m | €0.2m | €0.3m | €0.4m | €0.3m | €0.3m | €0.4m | ▲ 25.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.3m | -€0.09m | -€0.1m | €0.4m | €1.1m | ▲ 160% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | -€0.06m | €0.8m | €2.2m | -€1.7m | €0.3m | - |
| Other operating charges640/8 | - | - | - | €0.5m | €0.4m | €0.05m | €0.03m | €0.2m | ▲ 754% |
| Operating profit (loss)9901 | €5.4m | €4.3m | €7.1m | €6.7m | €1.5m | €8.8m | €3.3m | €3.6m | ▲ 10.5% |
| Financial income75/76B | - | - | - | €0.8m | €1.2m | €2.4m | €1.8m | €2.2m | ▲ 21.2% |
| Recurring financial income75 | €0.2m | €0.5m | €0.3m | €0.8m | €1.2m | €2.4m | €1.8m | €2.2m | ▲ 21.2% |
| Income from financial fixed assets750 | - | - | - | €191 | €0.001m | €0.001m | €0.002m | €0 | ▼ 100% |
| Income from current assets751 | - | - | - | €0.09m | €0.2m | €1.1m | €1.5m | €1.7m | ▲ 14.3% |
| Other financial income752/9 | - | - | - | €0.8m | €1.0m | €1.3m | €0.4m | €0.6m | ▲ 47.6% |
| Financial charges65/66B | - | - | - | €1.1m | €2.2m | €1.5m | €0.8m | €1.7m | ▲ 117% |
| Recurring financial charges65 | €0.6m | €1.1m | €0.9m | €1.1m | €2.2m | €1.5m | €0.8m | €1.7m | ▲ 117% |
| Debt charges650 | €0.06m | €0.06m | €0.07m | €0.2m | €0.2m | €0.1m | €0.1m | €0.3m | ▲ 101% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | - | - | €0 | - | - | - | - | - |
| Other financial charges652/9 | - | - | - | €0.9m | €1.9m | €1.3m | €0.7m | €1.4m | ▲ 120% |
| Profit (loss) for the period before taxes9903 | €5.0m | €3.6m | €6.5m | €6.4m | €0.5m | €9.8m | €4.3m | €4.1m | ▼ 4.7% |
| Income taxes67/77 | €2.3m | €2.6m | €0.8m | €0.7m | -€0.9m | €1.0m | €0.4m | €0.04m | ▼ 91.4% |
| Taxes670/3 | - | - | - | €0.7m | €0.3m | €1.0m | €0.4m | €0.4m | ▼ 17.6% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | - | €1.2m | €0.005m | €0.01m | €0.3m | ▲ 31× |
| Profit (loss) for the period9904 | €2.7m | €1.0m | €5.7m | €5.7m | €1.4m | €8.8m | €3.9m | €4.1m | ▲ 5.1% |
| Profit (loss) for the period to be appropriated9905 | €2.7m | €1.0m | €5.7m | €5.7m | €1.4m | €8.8m | €3.9m | €4.1m | ▲ 5.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €104.6m | €128.9m | €94.9m | €117.2m | €148.1m | €148.7m | €177.9m | €205.6m | ▲ 15.6% |
| Fixed assets21/28 | €1.2m | €1.1m | €1.1m | €1.0m | €1.0m | €1.2m | €2.1m | €2.3m | ▲ 8.9% |
| Intangible fixed assets21 | €0.004m | €0.001m | - | €0.1m | €0.07m | €0.1m | €0.08m | €0.08m | ▼ 4.5% |
| Tangible fixed assets22/27 | €1.1m | €1.0m | €1.0m | €0.8m | €0.8m | €1.0m | €1.9m | €2.1m | ▲ 10.0% |
| Land and buildings22 | - | - | - | €0.7m | €0.7m | €0.9m | €1.7m | €1.8m | ▲ 6.8% |
| Plant, machinery and equipment23 | - | - | - | €0.1m | €0.09m | €0.06m | €0.2m | €0.3m | ▲ 39.4% |
| Furniture and vehicles24 | - | - | - | €0.03m | €0.05m | €0.05m | €0.02m | €0.008m | ▼ 51.5% |
| Financial fixed assets28 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Other financial fixed assets284/8 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Shares284 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Current assets29/58 | €103.3m | €127.7m | €93.8m | €116.2m | €147.0m | €147.5m | €175.9m | €203.4m | ▲ 15.7% |
| Amounts receivable after more than one year29 | - | - | - | - | €0.08m | €0.04m | €0.2m | €0 | ▼ 100% |
| Other amounts receivable291 | - | - | - | - | €0.08m | €0.04m | €0.2m | €0 | ▼ 100% |
| Stocks and contracts in progress3 | €3.7m | €3.7m | €3.5m | €5.4m | €9.7m | €13.7m | €7.7m | €11.7m | ▲ 50.9% |
| Stocks30/36 | - | - | - | €5.4m | €8.1m | €10.7m | €7.4m | €11.6m | ▲ 56.3% |
| Raw materials and consumables30/31 | - | - | - | €0.5m | €1.1m | €1.8m | €1.4m | €1.4m | ▲ 5.2% |
| Work in progress32 | - | - | - | €0.004m | €0 | - | - | €170 | - |
| Goods purchased for resale34 | - | - | - | €4.9m | €7.1m | €8.9m | €6.1m | €10.2m | ▲ 67.7% |
| Contracts in progress37 | - | - | - | €0.03m | €1.6m | €3.0m | €0.3m | €0.05m | ▼ 83.6% |
| Amounts receivable within one year40/41 | €38.6m | €63.4m | €29.6m | €47.2m | €62.1m | €87.7m | €65.4m | €67.1m | ▲ 2.6% |
| Trade receivables40 | - | - | - | €42.9m | €57.5m | €84.8m | €62.4m | €63.2m | ▲ 1.3% |
| Other amounts receivable41 | - | - | - | €4.3m | €4.6m | €2.9m | €3.0m | €3.9m | ▲ 30.6% |
| Current investments50/53 | €13.1m | €13.2m | €5.5m | €10.4m | €47.5m | €22.6m | €69.3m | €78.3m | ▲ 13.1% |
| Other investments51/53 | - | - | - | €10.4m | €47.5m | €22.6m | €69.3m | €78.3m | ▲ 13.1% |
| Cash at bank and in hand54/58 | €45.2m | €42.5m | €51.0m | €53.2m | €27.1m | €22.9m | €32.0m | €45.3m | ▲ 41.6% |
| Deferred charges and accrued income490/1 | - | - | - | - | €0.5m | €0.5m | €1.3m | €1.0m | ▼ 22.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €104.6m | €128.9m | €94.9m | €117.2m | €148.1m | €148.7m | €177.9m | €205.6m | ▲ 15.6% |
| Equity10/15 | €12.7m | €12.9m | €14.1m | €15.3m | €15.3m | €15.3m | €15.2m | €15.3m | ▲ 0.4% |
| Contributions10/11 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Capital10 | - | - | - | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Issued capital100 | - | - | - | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Reserves13 | €1.9m | €1.9m | €1.9m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Non-distributable reserves130/1 | - | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Legal reserve130 | - | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Distributable reserves133 | - | - | - | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | = |
| Profit (loss) carried forward14 | €10.3m | €10.5m | €11.8m | €13.9m | €13.9m | €14.0m | €13.8m | €13.9m | ▲ 0.5% |
| Provisions and deferred taxes16 | €2.0m | €3.1m | €2.6m | €2.5m | €3.3m | €5.4m | €3.8m | €4.0m | ▲ 7.0% |
| Provisions for liabilities and charges160/5 | - | - | - | €2.5m | €3.3m | €5.4m | €3.8m | €4.0m | ▲ 7.0% |
| Other liabilities and charges164/5 | - | - | - | €2.5m | €3.3m | €5.4m | €3.8m | €4.0m | ▲ 7.0% |
| Amounts payable17/49 | €89.9m | €112.8m | €78.2m | €99.4m | €129.4m | €127.9m | €158.9m | €186.3m | ▲ 17.2% |
| Amounts payable within one year42/48 | €88.2m | €107.3m | €76.6m | €97.4m | €123.3m | €118.5m | €151.6m | €177.5m | ▲ 17.0% |
| Trade debts44 | €11.8m | €43.1m | €16.0m | €21.5m | €28.4m | €32.8m | €24.9m | €28.1m | ▲ 12.7% |
| Suppliers440/4 | - | - | - | €21.5m | €28.4m | €32.8m | €24.9m | €28.1m | ▲ 12.7% |
| Advances received on contracts in progress46 | - | - | - | €70.5m | €91.7m | €74.1m | €116.6m | €140.5m | ▲ 20.5% |
| Taxes, remuneration and social security45 | - | - | - | €1.9m | €1.8m | €2.9m | €6.1m | €4.8m | ▼ 20.6% |
| Taxes450/3 | - | - | - | €0.2m | €0.002m | €0.8m | €3.7m | €1.9m | ▼ 49.0% |
| Remuneration and social security454/9 | - | - | - | €1.7m | €1.8m | €2.0m | €2.4m | €2.9m | ▲ 24.2% |
| Other amounts payable47/48 | - | - | - | €3.5m | €1.3m | €8.8m | €4.0m | €4.0m | ▼ 0.1% |
| Accrued charges and deferred income492/3 | - | - | - | €2.0m | €6.2m | €9.5m | €7.3m | €8.9m | ▲ 21.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2.7m | €1.0m | €5.7m | €5.7m | €1.4m | €8.8m | €3.9m | €4.1m | ▲ 5.1% |
| + Depreciation and write-downs630 | €0.2m | €0.2m | €0.2m | €0.3m | €0.4m | €0.3m | €0.3m | €0.4m | ▲ 25.4% |
| Operating cash flow (approximation) | €3.0m | €1.2m | €5.9m | €6.0m | €1.7m | €9.1m | €4.2m | €4.5m | ▲ 6.8% |
| Investment in fixed assets (approximation) | - | -€0.1m | -€0.1m | -€0.2m | -€0.4m | -€0.6m | -€1.2m | -€0.6m | ▲ 47.1% |
| Change in cash | - | -€2.6m | €8.5m | €2.2m | -€26.1m | -€4.2m | €9.1m | €13.3m | ▲ 46.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 34 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 14-07-2026 | 2026-00296527 |
| 31-12-2024 | full format | 30-06-2025 | 2025-00219709 |
| 31-12-2023 | full format | 09-07-2024 | 2024-00231656 |
| 31-12-2022 | full format | 29-06-2023 | 2023-00192907 |
| 31-12-2021 | full format | 13-07-2022 | 2022-20192582 |
| 31-12-2020 | full format | 13-07-2021 | 2021-35400596 |
| 31-12-2019 | full format | 17-07-2020 | 2020-32600395 |
| 31-12-2018 | full format | 29-07-2019 | 2019-41200307 |
| 31-12-2017 | full format | 26-07-2018 | 2018-38700424 |
| 31-12-2016 | full format | 18-07-2017 | 2017-32900164 |
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Subsidies and aid
European research
1 projectProgrammes
Projects
UPscaling deep conversion routes for hard-to-reCYCLE biogenic waste
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
5 directors, 2 in day-to-day management, last change in 2025
Board 5
ACACIA I
CurrentDirector · since 06-06-2024 · Private limited company · permanent representative: Verbraecken Els
Lieven Danneels
CurrentDirector · since 06-06-2024
Jinvest BV
CurrentDirector · since 15-06-2024 · Legal entity · permanent representative: Jurgen Ingels
Vyncke - A Family of Companies
CurrentDirector · since 03-06-2025 · Legal entity · permanent representative: Vyncke Peter
Vyncke 3F
CurrentDirector · since 03-06-2025 · Legal entity · permanent representative: Vyncke Dieter
Day-to-day management 2
Masschelein
CurrentMember of the management board · since 19-09-2022 · Private limited company · permanent representative: Kenny Masschelein
NEAH CONSULTING
CurrentMember of the management board · since 09-01-2023 · Private limited company · permanent representative: Elke Toye
Permanent representatives 6
Kenny Masschelein
CurrentPermanent representative · since 19-09-2022 · for Masschelein
Elke Toye
CurrentPermanent representative · since 09-01-2023 · for NEAH CONSULTING
Verbraecken Els
CurrentPermanent representative · since 06-06-2024 · for ACACIA I
Jurgen Ingels
CurrentPermanent representative · since 15-06-2024 · for Jinvest BV
Vyncke Dieter
CurrentPermanent representative · since 03-06-2025 · for Vyncke 3F
Vyncke Peter
CurrentPermanent representative · since 03-06-2025 · for Vyncke - A Family of Companies
Statutory auditor 1
Ernst & Young Bedrijfsrevisoren BV
CurrentStatutory auditor · since 01-12-2022 · permanent representative: Line Vyvey
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ.
See the directors and other office holders in the KBO →
Not every act has been read: a resignation may still be missing
17 of this company's 25 Belgian Official Gazette deeds have not been read yet. Appointments and resignations recorded in them are not yet in the list of directors: someone who resigned there may still be listed as sitting. The acts are in the Timeline.
Mandate history
9 people since 2022, 8 in office
- Board
- Day-to-day management
- Statutory auditor
- began earlier
| Name | Functions and periods |
|---|---|
| ACACIA I |
|
| Lieven Danneels |
|
| Jinvest BV |
|
| Vyncke - A Family of Companies |
|
| Vyncke 3F |
|
| Masschelein |
|
| NEAH CONSULTING |
|
| Ernst & Young Bedrijfsrevisoren BV |
|
| Masschelein SRO |
|
Owners and capital
Owners
1 ownerChain of control
Highest known parent: VYNCKE - A Family of Companies. The sources do not say who stands above it.
Owners 1
- 100%
According to the 2025 annual accounts of VYNCKE and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. 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 include these statements in its annual accounts, or does not have to, is not listed.
Group and network
Connections & network
9 connected companiesThis company
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History
Acts, filings and financial milestones
Next filing, financial year 2026, expected by
2026
14-10
Gazette deed
Permanent representatives: Vyncke Dieter, Vyncke Peter and 2 othersCorrection · Power of attorney10 facts ▸
Gazette deed
Permanent representatives: Vyncke Dieter, Vyncke Peter and 2 others
Correction · Power of attorney10 facts ▸
- General meeting, 30-09-2026
- Correction, 23-09-2025
- Other provision, “lid van de Raad van Toezicht, bepaalde duur” (deed in Dutch) (5 times)
- Permanent representative, Vyncke Dieter
- Permanent representative, Vyncke Peter
- Permanent representative, Verbraecken Els (2 times)
- Permanent representative, Jurgen Ingels (3 times)
- Other provision, “lid van de raad van toezicht, bepaalde duur” (deed in Dutch)
- Other provision, “lid van de raad van toezicht, één jaar” (deed in Dutch) (2 times)
- Power of attorney, TITECA
14-07
NBB filing
Annual accounts filed
financial year 2025 · full format
2025
23-09
Gazette deed
Reappointments: Vyncke 3F, Vyncke - A Family of Companies and 4 othersPermanent representatives: Vyncke Dieter, Vyncke Peter and 2 others · Power of attorney12 facts ▸
Gazette deed
Reappointments: Vyncke 3F, Vyncke - A Family of Companies and 4 others
Permanent representatives: Vyncke Dieter, Vyncke Peter and 2 others · Power of attorney12 facts ▸
- General meeting, 21-06-2025
- Director reappointment, Vyncke 3F (director)
- Permanent representative, Vyncke Dieter
- Director reappointment, Vyncke - A Family of Companies (director)
- Permanent representative, Vyncke Peter
- Director reappointment, Acacia I BV (director)
- Permanent representative, Verbraecken Els
- Director reappointment, Jinvest BV (director)
- Permanent representative, Jurgen Ingels
- Director reappointment, Lieven Danneels (director)
- Auditor reappointment, Ernst & Young Bedrijfsrevisoren BV (statutory auditor)
- Power of attorney, Begic Amra
30-06
NBB filing
Annual accounts filed
financial year 2024 · full format
2024
10-12
Gazette deed
Reappointment: Ernst & Young (statutory auditor)Permanent representatives: Boelens Francis and Line Vyvey · Correction6 facts ▸
Gazette deed
Reappointment: Ernst & Young (statutory auditor)
Permanent representatives: Boelens Francis and Line Vyvey · Correction6 facts ▸
- General meeting, 28-10-2024
- Correction, “tekst corrigeren, bijzondere algemene vergadering” (deed in Dutch)
- General meeting, 25-06-2022
- Auditor reappointment, Ernst & Young (statutory auditor)
- Permanent representative, Boelens Francis
- Permanent representative, Line Vyvey (vaste vertegenwoordiger van de commissaris)
22-08
Gazette deed
Reappointments: Lieven Danneels (director) and Acacia I (director)Permanent representatives: Verbraecken Els and Jurgen Ingels · Appointment: Jinvest (nieuw lid van de raad van bestuur)6 facts ▸
Gazette deed
Reappointments: Lieven Danneels (director) and Acacia I (director)
Permanent representatives: Verbraecken Els and Jurgen Ingels · Appointment: Jinvest (nieuw lid van de raad van bestuur)6 facts ▸
- General meeting, 15-06-2024
- Director reappointment, Lieven Danneels (director)
- Director reappointment, Acacia I (director)
- Permanent representative, Verbraecken Els
- Director appointment, Jinvest (nieuw lid van de raad van bestuur)
- Permanent representative, Jurgen Ingels
09-07
NBB filing
Annual accounts filed
financial year 2023 · full format
2023
31-12
Financial
Highest result from 2018 to 2025net €8.8m ▲544%
Operating result €8.8m, net result €8.8m, both a record.
13-09
Gazette deed
Permanent representatives: Verbraecken Els and Rik Vanpeteghem5 facts ▸
Gazette deed
Permanent representatives: Verbraecken Els and Rik Vanpeteghem
5 facts ▸
- General meeting, 08-08-2023
- Other provision, “lid van de Raad van Toezicht, één jaar” (deed in Dutch) (3 times)
- Permanent representative, Verbraecken Els
- Permanent representative, Rik Vanpeteghem
- Other provision, “enige aandeelhouder, alle daden door voormelde leden van de Raad van Toezicht gesteld die als daden van de Raad van Toezicht kunnen worden gekwalificeerd” (deed in Dutch)
13-07
Gazette deed
Appointment: BV Neah Consulting (member of the management board)Permanent representative: Elke Toye2 facts ▸
Gazette deed
Appointment: BV Neah Consulting (member of the management board)
Permanent representative: Elke Toye2 facts ▸
- Director appointment, BV Neah Consulting (member of the management board)
- Permanent representative, Elke Toye (permanent vertegenwoordiger)
29-06
NBB filing
Annual accounts filed
financial year 2022 · full format
2022
01-12
Gazette deed
Permanent representatives: Peter De Keyzer, Els Verbraecken and 2 othersReappointment: Ernst & Young (statutory auditor)7 facts ▸
Gazette deed
Permanent representatives: Peter De Keyzer, Els Verbraecken and 2 others
Reappointment: Ernst & Young (statutory auditor)7 facts ▸
- General meeting, 25-06-2022 (3 times)
- Other provision, “lid van raad van toezicht, lid van raad van toezicht” (deed in Dutch) (3 times)
- Permanent representative, Peter De Keyzer
- Permanent representative, Els Verbraecken
- Permanent representative, Rik Vanpeteghem
- Auditor reappointment, Ernst & Young (statutory auditor)
- Permanent representative, Boelens Francis (permanent vertegenwoordiger)
Show earlier events
30-11
Gazette deed
Resignation: Masschelein SRO (member of the management board)Permanent representatives: Kenny Masschelein and Jozef Mestdagh · Appointment: BV Masschelein (member of the management board)6 facts ▸
Gazette deed
Resignation: Masschelein SRO (member of the management board)
Permanent representatives: Kenny Masschelein and Jozef Mestdagh · Appointment: BV Masschelein (member of the management board)6 facts ▸
- Board meeting, 14-10-2022
- Director resignation, Masschelein SRO (member of the management board)
- Permanent representative, Kenny Masschelein (member of the management board) (2 times)
- Director appointment, BV Masschelein (member of the management board)
- Permanent representative, Jozef Mestdagh (member of the management board)
- Director in office, Lone Pine CommV (member of the management board)
13-07
NBB filing
Annual accounts filed
financial year 2021 · full format
2021
13-07
NBB filing
Annual accounts filed
financial year 2020 · full format
2020
17-07
NBB filing
Annual accounts filed
financial year 2019 · full format
2019
31-12
Financial
Weakest financial yearnet €1.0m ▼63.2%
Net result drops to €1.0m, the lowest in the series; recovery starts the following year.
29-07
NBB filing
Annual accounts filed
financial year 2018 · full format
2018
26-07
NBB filing
Annual accounts filed
financial year 2017 · full format
2017
18-07
NBB filing
Annual accounts filed
financial year 2016 · full format
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.Of the 34 annual accounts filed, the latest 10 are here; all 34 are under Financials.
8 of 25 deeds read
About the unread acts
Of the 25 Belgian Official Gazette deeds we know for this company, 8 have been read. The other 17 have not been read yet: what they contain is neither established nor disproved here.
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Register details
Identification
Legal formPublic limited company
Founded23-06-1992
Financial year end31-12
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
25210Manufacture of fabricated metal products, except machinery and equipment
33200Installation of industrial machinery and equipment
E-invoicing
Reachable via Peppol
Peppol ID
0208:0447690830
Also
9925:BE0447690830
Registered
19-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Recognitions · licences · registrations
Legal Entity Identifier
5493002GTF0NOZT4MG17
Environmental permits
2 applications in Flanders since 2023 · 2 granted
Nieuwbouw van bijgebouwen en niet overdekte lage constructie
Nieuwbouw of aanleggen
Source: Omgevingsloket Vlaanderen. Flanders only: Brussels and Wallonia do not publish the applicant.
Sites & property
Location & real-estate footprint
Registered office, Harelbeke · 1 establishment unit since 1992
Ground area
8,759 m²
Building footprint
6,449 m²
Building volume
55,067 m³
Parcel 34323D1598/00Z000, Flanders · tallest building 59.9 m. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
VYNCKE
since 1992unit no. 2.058.224.192
1 parcel
Flanders
1
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 34323D1598/00Z000 | Flanders | 8,759 m² | 1 · 6,449 m² | 59.9 m · 3 |
How the parcels are linked
Good to know
The parcel matches the address exactly.
Articles of association
- Other provisionsOther rules from the articles that fall under none of the themes above.
- Amendment of the articles: “18bis” (deed in Dutch)
Read from the deeds: 1 provision, deed of 14-10-2026