VANCO
ActiveSummary
VANCO has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.18M and a net result of €-24k. Equity remains stable across the filed fiscal years (±2.5% per year). Its solvency ranks better than 50% of 4539 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
63
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability32▲+2
Solvency64▲+1
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €70k at 30 days acceptable
Liquidity ample (current ratio 1.93 against 1.04 in 2024; short-term debt: 25.3% and cash: 2.9% of total assets), but 61.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← fewer bankruptcies
more bankruptcies →
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
38.5%
Return on assets
-0.8%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-24k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 19-08-2026, 19 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
19 d late
2024
14 d late
2023
7 d late
2022
30 d late
2021
31 d late
2020
23 d early
2019
54 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
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
24-09-2026 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
€-24k▲ 46.6%
2024 · €-46k
2018: €-75k
2019: €38k
2020: €48k
2021: €-136k
2022: €8k
2023: €101k
2024: €-46k
2018 → 2025
Working capital
€718k▲ 1,040%
2024 · €63k
2018: €238k
2019: €160k
2020: €222k
2021: €-56k
2022: €-18k
2023: €118k
2024: €63k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.14M-€1.15M▲ 0.7%€1.25M▲ 9.1%€1.21M▼ 3.6%€1.18M▼ 2.0%
Operating result€-54k-€41k€281k▲ 578%€97k▼ 65.5%€42k▼ 57.1%
Net result€-136k-€8k€101k▲ 1,116%€-46k€-24k▲ 46.6%
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 57% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.07M
Fixed assets
€1.57M ▲ 8.8%
Current assets
€1.49M ▼ 14.4%
Equity and liabilities €3.07M
Equity
€1.18M ▼ 2.0%
Provisions
€3k ▼ 29.1%
Debt
€1.88M ▼ 5.0%
Debt's share of the balance-sheet total falls from 62.0% to 61.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€112k▼
2024 · €174k
Cash flow
€45k▲
2024 · €31k
Current ratio
1.93▲
2024 · 1.04
Quick ratio
0.37▲
2024 · 0.19
Debt to equity
1.59▼
2024 · 1.64
ROE
-2.1%▲
2024 · -3.8%
ROA
-0.8%▲
2024 · -1.4%
Interest coverage
1.72▲
2024 · 1.58
Debt ≤ 1 year
€775k▼
2024 · €1.68M
Debt > 1 year
€1.11M▲
2024 · €297k
Income taxes
€3k▼
2024 · €35k
Staff costs
€219▼
2024 · €1k
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 · 2025 against 2024 · 69 lines
Balance sheet
Code20242025
Assets
Total assets20/58€3.19M€3.07M▼
Fixed assets21/28€1.44M€1.57M▲
Tangible fixed assets22/27€1.44M€1.57M▲
Land and buildings22€1.42M€1.55M▲
Plant, machinery and equipment23€16k€17k▲
Furniture and vehicles24€9k€6k▼
Other tangible fixed assets26€3k€2k▼
Current assets29/58€1.75M€1.49M▼
Stocks and contracts in progress3€1.43M€1.21M▼
Stocks30/36€0€357k▲
Contracts in progress37€1.43M€850k▼
Amounts receivable within one year40/41€187k€147k▼
Trade receivables40-€7k
Other amounts receivable41€187k€140k▼
Cash at bank and in hand54/58€75k€89k▲
Deferred charges and accrued income490/1€53k€51k▼
Equity and liabilities
Total equity and liabilities10/49€3.19M€3.07M▼
Equity10/15€1.21M€1.18M▼
Contributions10/11€568k€568k=
Capital10€433k€433k=
Issued capital100€433k€433k=
Outside capital11€134k€134k=
Share premium1100/10€134k€134k=
Reserves13€681k€679k▼
Non-distributable reserves130/1€71k€71k=
Legal reserve130€71k€71k=
Tax-exempt reserves132€9k€7k▼
Distributable reserves133€601k€601k=
Profit (loss) carried forward14€-43k€-65k▼
Provisions and deferred taxes16€5k€3k▼
Deferred taxes168€5k€3k▼
Amounts payable17/49€1.98M€1.88M▼
Amounts payable after more than one year17€297k€1.11M▲
Financial debts170/4€297k€1.11M▲
Amounts payable within one year42/48€1.68M€775k▼
Current portion of amounts payable after more than one year42€53k€91k▲
Financial debts43€689k€41k▼
Credit institutions430/8€689k€41k▼
Trade debts44€147k€36k▼
Suppliers440/4€147k€36k▼
Taxes, remuneration and social security45€11k€9k▼
Taxes450/3€9k€7k▼
Remuneration and social security454/9€2k€2k=
Other amounts payable47/48€783k€597k▼
Accrued charges and deferred income492/3€0-
Income statement
Code20242025
Non-recurring operating income76A€16k€100k▲
Remuneration, social security and pensions62€1k€219▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€77k€70k▼
Other operating charges640/8€36k€6k▼
Non-recurring operating charges66A€3k€2k▼
Gross operating margin9900€213k€119k▼
Operating profit (loss)9901€97k€42k▼
Financial income75/76B€4€471▲
Recurring financial income75€4€471▲
Financial charges65/66B€110k€65k▼
Recurring financial charges65€110k€65k▼
Profit (loss) for the period before taxes9903€-13k€-23k▼
Transfer from deferred taxes780€1k€1k=
Income taxes67/77€35k€3k▼
Profit (loss) for the period9904€-46k€-24k▲
Transfer from tax-exempt reserves789€3k€3k=
Profit (loss) for the period to be appropriated9905€-43k€-22k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-43k€-65k▼
Profit (loss) brought forward from the previous period14P€0€-43k▼
Transfer to equity691/2€0-
To other reserves6921€0-
Profit to be distributed694/7€0-
Directors or managers695€0-
Social balance
Average headcount (FTE)90870.00.0=
The notes to these accounts (14 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
19-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 19 days late
2025
14-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 14 days late
2024
07-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 7 days late
2023
31-12
Financial
Highest result since 2018net €101k ▲1116%
Operating result €281k, net result €101k, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-12
Financial
Back to profitnet €8k
Net result €8k after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Weakest financial yearnet €-136k ▼384%
Net result drops to €-136k, the lowest in the series; recovery starts the following year.
08-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
23-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 54 days late
2019
31-12
Financial
Back to profitnet €38k
Net result €38k after one loss-making year.
26-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
05-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
10 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, Knokke-Heist · 1 establishment unit since 1989
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.
Prins Karellaan 438300 Knokke-HeistGround area
3,556 m²
Building footprint
967 m²
Volume, LiDAR
9,377 m³
2 parcels, Flanders · tallest building 15.5 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
VANCO NV
since 19892.042.905.023
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31332E0748/00C000 | Flanders | 2,690 m² | 1 · 777 m² | 15.5 m · 4 fl. |
| 71327G0413/00D002 | Flanders | 866 m² | 1 · 190 m² | 9.7 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
2 categoriesVANCO NV46370
Legal Entity Identifier
549300C8178TWHSLCO61
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Of 7,320 companies in sector 68110 we hold annual accounts for 5,381. 3,109 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
Founded15-03-1989
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
41001General construction of residential buildings
68201Renting and operating of own or leased residential real estate, excluding social housing
68310Real estate agency activities
Sources
Crossroads Bank for EnterprisesNational Bank · 37 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.