GARAGE VANGHELUWE
ActiveSummary
GARAGE VANGHELUWE has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.00M and a net result of €344k. Equity is growing by ~17.3% per year across the filed fiscal years. Its solvency ranks better than 77% of 9623 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
81
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability83▲+2
Solvency90▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €160k at 30 days acceptable
Liquidity ample (current ratio 6.98 against 5.22 in 2023; short-term debt: 12.6% and cash: 12.8% of total assets), and 35.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
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
64.7%
Return on assets
11.1%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
61 d late
2023
55 d late
2022
59 d late
2021
24 d late
2020
31 d late
2019
22 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€2.00M▲ 7.5%
2023 · €1.86M
2018: €838k
2019: €958k
2020: €1.14M
2021: €1.40M
2022: €1.66M
2023: €1.86M
2018 → 2024
Total assets
€3.09M▼ 5.6%
2023 · €3.27M
2018: €1.56M
2019: €1.56M
2020: €1.93M
2021: €1.70M
2022: €3.07M
2023: €3.27M
2018 → 2024
Net result
€344k▲ 10.1%
2023 · €312k
2018: €147k
2019: €120k
2020: €184k
2021: €256k
2022: €263k
2023: €312k
2018 → 2024
Working capital
€2.32M▼ 1.4%
2023 · €2.35M
2018: €927k
2019: €1.08M
2020: €1.26M
2021: €1.50M
2022: €2.07M
2023: €2.35M
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€1.14M-€1.40M▲ 22.4%€1.66M▲ 18.8%€1.86M▲ 11.9%€2.00M▲ 7.5%
Operating result€270k-€388k▲ 43.6%€368k▼ 5.2%€502k▲ 36.5%€548k▲ 9.2%
Net result€184k-€256k▲ 39.4%€263k▲ 2.8%€312k▲ 18.6%€344k▲ 10.1%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 9% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €3.09M
Fixed assets
€380k ▲ 5.2%
Current assets
€2.71M ▼ 6.9%
Equity and liabilities €3.09M
Equity
€2.00M ▲ 7.5%
Debt
€1.09M ▼ 22.7%
Debt's share of the balance-sheet total falls from 43.2% to 35.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€612k▲
2023 · €563k
Cash flow
€408k▲
2023 · €373k
Current ratio
6.98▲
2023 · 5.22
Quick ratio
2.59▲
2023 · 2.30
Debt to equity
0.55▼
2023 · 0.76
ROE
17.2%▲
2023 · 16.8%
ROA
11.1%▲
2023 · 9.5%
Interest coverage
15.58▲
2023 · 12.23
Debt ≤ 1 year
€388k▼
2023 · €557k
Debt > 1 year
€704k▼
2023 · €856k
Income taxes
€165k▲
2023 · €144k
Staff costs
€231k▲
2023 · €187k
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 · 62 lines
Balance sheet
Code20232024
Assets
Total assets20/58€3.27M€3.09M▼
Fixed assets21/28€361k€380k▲
Tangible fixed assets22/27€361k€380k▲
Land and buildings22€274k€313k▲
Plant, machinery and equipment23€81k€63k▼
Furniture and vehicles24€6k€4k▼
Current assets29/58€2.91M€2.71M▼
Stocks and contracts in progress3€1.63M€1.70M▲
Stocks30/36€1.63M€1.70M▲
Amounts receivable within one year40/41€346k€292k▼
Trade receivables40€302k€276k▼
Other amounts receivable41€43k€16k▼
Current investments50/53-€300k
Cash at bank and in hand54/58€920k€396k▼
Deferred charges and accrued income490/1€15k€17k▲
Equity and liabilities
Total equity and liabilities10/49€3.27M€3.09M▼
Equity10/15€1.86M€2.00M▲
Contributions10/11€63k€63k=
Capital10€63k€63k=
Issued capital100€63k€63k=
Reserves13€1.80M€1.93M▲
Non-distributable reserves130/1€8k€8k=
Legal reserve130€8k€8k=
Tax-exempt reserves132€155k€155k=
Distributable reserves133€1.63M€1.77M▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€1.41M€1.09M▼
Amounts payable after more than one year17€856k€704k▼
Financial debts170/4€155k€121k▼
Other amounts payable178/9€702k€583k▼
Amounts payable within one year42/48€557k€388k▼
Current portion of amounts payable after more than one year42€60k€62k▲
Trade debts44€221k€43k▼
Suppliers440/4€221k€43k▼
Advances received on contracts in progress46€0-
Taxes, remuneration and social security45€252k€262k▲
Taxes450/3€238k€240k▲
Remuneration and social security454/9€14k€22k▲
Other amounts payable47/48€25k€22k▼
Income statement
Code20232024
Non-recurring operating income76A€116€0▼
Remuneration, social security and pensions62€187k€231k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€61k€64k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€700€-700▼
Other operating charges640/8€10k€5k▼
Non-recurring operating charges66A€3k€1k▼
Gross operating margin9900€763k€849k▲
Operating profit (loss)9901€502k€548k▲
Financial income75/76B€12€81▲
Recurring financial income75€12€81▲
Financial charges65/66B€46k€39k▼
Recurring financial charges65€46k€39k▼
Profit (loss) for the period before taxes9903€456k€509k▲
Income taxes67/77€144k€165k▲
Profit (loss) for the period9904€312k€344k▲
Profit (loss) for the period to be appropriated9905€312k€344k▲
Appropriation of the result
Profit (loss) to be appropriated9906€312k€344k▲
Transfer from equity791/2€115k€205k▲
Transfer to equity691/2€312k€344k▲
To other reserves6921€312k€344k▲
Profit to be distributed694/7€115k€205k▲
Return on contributions (dividend)694€115k€205k▲
Social balance
Average headcount (FTE)90873.13.8▲
The notes to these accounts (24 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 61 days late
2024
31-12
Financial
Highest result since 2018net €344k ▲10.1%
Operating result €548k, net result €344k, both a record.
24-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 55 days late
2023
28-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 59 days late
2022
24-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 24 days late
2021
31-12
Financial
Liquidity times 6current ratio 17.93
Current ratio from 3.18 to 17.93; short-term debt falls from €580k to €89k.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
31-12
Financial
Equity above €1MEq €1.14M ▲19.2%
3 profitable years in a row build equity to €1.14M.
09-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet €120k ▼18.4%
Net result drops to €120k, the lowest in the series; recovery starts the following year.
12-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 25 days late
2016
25-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Waregem · 1 establishment unit since 1997
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Vichtseweg 2248790 WaregemGround area
1,039 m²
Building footprint
338 m²
Volume, LiDAR
2,048 m³
Parcel 34453F0498/00M000, Flanders · tallest building 9.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
VANGHELUWE GARAGE
since 19972.080.304.362
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34453F0498/00M000 | Flanders | 1,039 m² | 1 · 338 m² | 9.2 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2023 to 2024 · 2 entries · 516 EUR awarded · 837 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 469 EUR | 469 EUR |
| 2023 | 1 | 47 EUR | 368 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 10,671 companies in sector 47811 we hold annual accounts for 5,222. 2,354 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded20-01-1997
Fiscal year end31-12
Activities, NACEBEL 2025
47811Retail sale of cars and light vans (up to 3.5 tonnes)
95311General maintenance and repair of cars and light vans (up to 3.5 tonnes)
68204Real estate activities
Sources
Crossroads Bank for EnterprisesNational Bank · 28 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.