MICHEL VANDESCURE
ActiveMICHEL VANDESCURE has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.21M and a net result of €349k. Equity is shrinking by ~6% per year across the filed fiscal years. Its solvency ranks better than 74% of 286 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
80
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability82▲+82
Solvency91▼-9
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €170k at 30 days acceptable
Liquidity ample (current ratio 2.49 against 5.99 in 2024; short-term debt: 32.1% and cash: 10.6% of total assets), and 33.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
66.2%
Return on assets
10.5%
Age of the figures
9 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 23
Relative position
BE, all sectors
reference
Sector 23
lower
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 20-08-2026, 20 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
20 d late
2024
13 d late
2023
32 d early
2022
35 d early
2021
46 d early
2020
30 d early
2019
3 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€349k
2024 · €-1.19M
2018: €300k
2019: €166k
2020: €75k
2021: €287k
2022: €282k
2023: €194k
2024: €-1.19M
2018 → 2025
Working capital
€1.59M▲ 12.1%
2024 · €1.42M
2018: €2.57M
2019: €2.79M
2020: €1.66M
2021: €1.90M
2022: €2.20M
2023: €2.33M
2024: €1.42M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€2.66M-€2.94M▲ 10.5%€3.05M▲ 3.8%€1.86M▼ 39.0%€2.21M▲ 18.7%
Operating result€399k-€507k▲ 27.0%€235k▼ 53.7%€-1.18M€338k
Net result€287k-€282k▼ 1.8%€194k▼ 31.2%€-1.19M€349k
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €338k after a loss of €1.18M in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.34M
Fixed assets
€671k▼ 9.0%
Current assets
€2.66M▲ 56.2%
Equity and liabilities €3.34M
Equity
€2.21M▲ 18.7%
Debt
€1.13M▲ 93.3%
The debt ratio rises from 23.9% to 33.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€502k▲
2024 · €-1.03M
Cash flow
€512k▲
2024 · €-1.03M
Solvency
66.2%▼
2024 · 76.1%
Current ratio
2.49▼
2024 · 5.99
Quick ratio
2.49▼
2024 · 5.90
Debt / equity
0.51▲
2024 · 0.31
ROE
15.8%▲
2024 · -63.8%
ROA
10.5%▲
2024 · -48.5%
Interest coverage
170.01▲
2024 · -45.21
Debt
€1.13M▲
2024 · €584k
Debt ≤ 1 year
€1.07M▲
2024 · €285k
Debt > 1 year
€0▼
2024 · €241k
Income taxes
€2k▼
2024 · €4k
Staff costs
€1.57M▲
2024 · €1.34M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€2.44M€3.34M▲
Fixed assets21/28€738k€671k▼
Intangible fixed assets21€93k€68k▼
Tangible fixed assets22/27€559k€506k▼
Land and buildings22€401k€347k▼
Plant, machinery and equipment23€47k€50k▲
Furniture and vehicles24€111k€109k▼
Financial fixed assets28€85k€97k▲
Current assets29/58€1.71M€2.66M▲
Amounts receivable after more than one year29-€856k
Other amounts receivable291-€856k
Stocks and contracts in progress3€27k€0▼
Stocks30/36€27k€0▼
Amounts receivable within one year40/41€1.50M€1.42M▼
Trade receivables40€1.39M€1.12M▼
Other amounts receivable41€104k€308k▲
Cash at bank and in hand54/58€154k€354k▲
Deferred charges and accrued income490/1€30k€30k▲
Equity and liabilities
Total equity and liabilities10/49€2.44M€3.34M▲
Equity10/15€1.86M€2.21M▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€2.97M€2.97M=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Tax-exempt reserves132€65k€65k=
Distributable reserves133€2.90M€2.90M=
Profit (loss) carried forward14€-1.19M€-837k▲
Investment grants15€14k€12k▼
Amounts payable17/49€584k€1.13M▲
Amounts payable after more than one year17€241k€0▼
Other amounts payable178/9€241k€0▼
Amounts payable within one year42/48€285k€1.07M▲
Current portion of amounts payable after more than one year42€0-
Trade debts44€167k€1.01M▲
Suppliers440/4€167k€1.01M▲
Taxes, remuneration and social security45€109k€65k▼
Taxes450/3€38k€5k▼
Remuneration and social security454/9€71k€60k▼
Other amounts payable47/48€8k€30▼
Accrued charges and deferred income492/3€58k€58k=
Income statement
Code20242025
Non-recurring operating income76A€74k€0▼
Remuneration, social security and pensions62€1.34M€1.57M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€153k€163k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€58k€-10k▼
Other operating charges640/8€36k€46k▲
Non-recurring operating charges66A€0-
Gross operating margin9900€405k€2.11M▲
Operating profit (loss)9901€-1.18M€338k▲
Financial income75/76B€22k€15k▼
Recurring financial income75€22k€15k▼
Financial charges65/66B€26k€3k▼
Recurring financial charges65€23k€3k▼
Non-recurring financial charges66B€3k€0▼
Profit (loss) for the period before taxes9903€-1.18M€351k▲
Income taxes67/77€4k€2k▼
Profit (loss) for the period9904€-1.19M€349k▲
Profit (loss) for the period to be appropriated9905€-1.19M€349k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-1.19M€-837k▲
Profit (loss) brought forward from the previous period14P-€-1.19M
Transfer from equity791/2€0-
Transfer to equity691/2€0-
To other reserves6921€0-
Profit to be distributed694/7€0-
Return on contributions (dividend)694€0-
Social balance
Average headcount (FTE)908728.726.6▼
The notes to these accounts (17 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
20-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 20 days late
2025
31-12
Financial
Back to profitnet €349k
Net result €349k after one loss-making year.
31-12
Financial
Equity above €2MEq €2.21M ▲18.7%
Equity rises from €1.86M to €2.21M.
13-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 13 days late
2024
31-12
Financial
Weakest financial yearnet €-1.19M ▼711%
Net result drops to €-1.19M, the lowest in the series; recovery starts the following year.
29-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
26-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
15-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
01-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
28-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
24-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
13-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
03-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
9 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, Ath · 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.
Rue du Sûr Abri(Maf) 117810 AthGround area
5,862 m²
Building footprint
1,590 m²
Volume, LiDAR
1,040 m³
2 parcels, Wallonia · tallest building 7.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MICHEL VANDESCURE SA
since 19972.082.401.740
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 51040A0175/00R000 | Wallonia | 3,690 m² | 1 · 1,392 m² | - |
| 51040A0171/00R002 | Wallonia | 2,171 m² | 1 · 198 m² | 7.2 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Recognised contractor
4 categoriesMICHEL VANDESCURE SA24532
Similar companies · same sector, comparable size
EURODAL PRODUCTIONS
BE 0422.866.154
Grobbendonk · Eq €2.20M
CIERS BETON
BE 0412.921.674
Oostrozebeke · Eq €2.23M
COLLINET-ASSAINISSEMENT - COLLINET-WATERZUIVERING
BE 0432.172.909
Herstal · Eq €2.17M
Productie- en Handelsmaatschappij voor Betonproducten
BE 0471.559.956
Heusden-Zolder · Eq €2.25M
Luypaerts Beton BV
BE 0422.229.518
Balen · Eq €2.16M
Of 400 companies in sector 23610 we hold annual accounts for 315. 225 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded30-05-1997
Fiscal year end31-12
Activities, NACEBEL
23610Manufacture of other non-metallic mineral products
Sources
Crossroads Bank for EnterprisesNational Bank · 28 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.