Vanneste Construct
ActiveSummary
Vanneste Construct has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €293k and a net result of €43k. Equity is growing by ~2.5% per year across the filed fiscal years. Its solvency ranks better than 25% of 7838 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability42▼-6
Solvency49▲+7
Growth52=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14k at 30 days acceptable
Liquidity tight (current ratio 1.12 against 1.02 in 2024; short-term debt: 62.5% and cash: 2.3% of total assets), and 76.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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
23.6%
Return on assets
3.4%
Age of the figures
15 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 25% of 7838 sector peers (2025).
NBB · sector comparisonPosition among 7838 sector peers
Solvency
better than 25%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 24-02-2026, 24 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
24 d late
2024
21 d late
2023
21 d late
2022
36 d late
2021
18 d late
2020
22 d late
2019
3 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 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€293k▲ 17.0%
2024 · €251k
2019: €227klowest in 7 years
2020: €297k▲ +30.6% vs 2019
2021: €266k▼ -10.5% vs 2020
2022: €368k▲ +38.4% vs 2021highest in 7 years
2023: €321k▼ -12.8% vs 2022
2024: €251k▼ -21.8% vs 2023
2025: €293k▲ +17.0% vs 2024
2019 → 2025
Total assets
€1.24M▼ 14.0%
2024 · €1.44M
2019: €1.82M
2020: €2.02M▲ +10.6% vs 2019
2021: €1.58M▼ -21.6% vs 2020
2022: €2.06M▲ +30.1% vs 2021highest in 7 years
2023: €1.84M▼ -10.5% vs 2022
2024: €1.44M▼ -21.5% vs 2023
2025: €1.24M▼ -14.0% vs 2024lowest in 7 years
2019 → 2025
Net result
€43k▲ 17.8%
2024 · €36k
2019: €107khighest in 7 years
2020: €70k▼ -34.3% vs 2019
2021: €-31k▼ -144% vs 2020lowest in 7 years
2022: €102k▲ +428% vs 2021
2023: €60k▼ -41.0% vs 2022
2024: €36k▼ -39.9% vs 2023
2025: €43k▲ +17.8% vs 2024
2019 → 2025
Working capital
€90k▲ 274%
2024 · €24k
2019: €-116klowest in 7 years
2020: €-75k▲ +35.1% vs 2019
2021: €-19k▲ +74.2% vs 2020
2022: €82k▲ +524% vs 2021
2023: €49k▼ -40.1% vs 2022
2024: €24k▼ -51.1% vs 2023
2025: €90k▲ +274% vs 2024highest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€266k-€368k▲ 38.4%€321k▼ 12.8%€251k▼ 21.8%€293k▲ 17.0%
2021: €266k
2022: €368k▲ +38.4% vs 2021highest in 5 years
2023: €321k▼ -12.8% vs 2022
2024: €251k▼ -21.8% vs 2023lowest in 5 years
2025: €293k▲ +17.0% vs 2024
Operating result€6k-€157k▲ 2,437%€165k▲ 5.1%€95k▼ 42.5%€156k▲ 64.8%
2021: €6klowest in 5 years
2022: €157k▲ +2437% vs 2021
2023: €165k▲ +5.1% vs 2022highest in 5 years
2024: €95k▼ -42.5% vs 2023
2025: €156k▲ +64.8% vs 2024
Net result€-31k-€102k€60k▼ 41.0%€36k▼ 39.9%€43k▲ 17.8%
2021: €-31klowest in 5 years
2022: €102k▲ +428% vs 2021highest in 5 years
2023: €60k▼ -41.0% vs 2022
2024: €36k▼ -39.9% vs 2023
2025: €43k▲ +17.8% vs 2024
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 65% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.24M
Fixed assets
€375k ▼ 16.0%
Current assets
€867k ▼ 13.1%
Equity and liabilities €1.24M
Equity
€293k ▲ 17.0%
Debt
€948k ▼ 20.5%
Debt's share of the balance-sheet total falls from 82.6% to 76.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€231k▲
2024 · €168k
Cash flow
€117k▲
2024 · €109k
Current ratio
1.12▲
2024 · 1.02
Quick ratio
0.70▲
2024 · 0.64
Debt to equity
3.23▼
2024 · 4.76
ROE
14.5%▲
2024 · 14.4%
ROA
3.4%▲
2024 · 2.5%
Interest coverage
2.26▼
2024 · 3.10
Debt ≤ 1 year
€777k▼
2024 · €973k
Debt > 1 year
€171k▼
2024 · €220k
Income taxes
€20k▲
2024 · €16k
Staff costs
€294k▲
2024 · €264k
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 · 54 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.44M€1.24M▼
Fixed assets21/28€447k€375k▼
Tangible fixed assets22/27€445k€373k▼
Land and buildings22€315k€297k▼
Plant, machinery and equipment23€110k€67k▼
Furniture and vehicles24€20k€9k▼
Financial fixed assets28€2k€2k=
Current assets29/58€997k€867k▼
Stocks and contracts in progress3€375k€320k▼
Contracts in progress37€375k€320k▼
Amounts receivable within one year40/41€557k€510k▼
Trade receivables40€435k€460k▲
Other amounts receivable41€122k€50k▼
Cash at bank and in hand54/58€55k€28k▼
Deferred charges and accrued income490/1€9k€9k▼
Equity and liabilities
Total equity and liabilities10/49€1.44M€1.24M▼
Equity10/15€251k€293k▲
Contributions10/11€12k€12k=
Reserves13€238k€281k▲
Distributable reserves133€238k€281k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€1.19M€948k▼
Amounts payable after more than one year17€220k€171k▼
Financial debts170/4€220k€171k▼
Amounts payable within one year42/48€973k€777k▼
Current portion of amounts payable after more than one year42€72k€48k▼
Trade debts44€778k€633k▼
Suppliers440/4€778k€633k▼
Advances received on contracts in progress46€0-
Taxes, remuneration and social security45€17k€95k▲
Taxes450/3€17k€32k▲
Remuneration and social security454/9-€63k
Other amounts payable47/48€106k€0▼
Accrued charges and deferred income492/3€399€354▼
Income statement
Code20242025
Remuneration, social security and pensions62€264k€294k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€73k€74k▲
Other operating charges640/8€10k€10k▲
Non-recurring operating charges66A€28k-
Gross operating margin9900€469k€534k▲
Operating profit (loss)9901€95k€156k▲
Financial income75/76B€12k€8k▼
Recurring financial income75€12k€8k▼
Financial charges65/66B€54k€102k▲
Recurring financial charges65€54k€102k▲
Profit (loss) for the period before taxes9903€52k€62k▲
Income taxes67/77€16k€20k▲
Profit (loss) for the period9904€36k€43k▲
Profit (loss) for the period to be appropriated9905€36k€43k▲
Appropriation of the result
Profit (loss) to be appropriated9906€36k€43k▲
Transfer from equity791/2€106k€0▼
Transfer to equity691/2€36k€43k▲
To other reserves6921€36k€43k▲
Profit to be distributed694/7€106k€0▼
Return on contributions (dividend)694€106k€0▼
The notes to these accounts (19 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €259k | €290k | €264k | €294k | ▲ 11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €173k | €169k | €90k | €73k | €74k | ▲ 2.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €0 | - | - | - | - |
| Other operating charges640/8 | - | €17k | €10k | €10k | €10k | ▲ 2.4% |
| Non-recurring operating charges66A | - | - | - | €28k | - | - |
| Gross operating margin9900 | €766k | €602k | €556k | €469k | €534k | ▲ 14.0% |
| Operating profit (loss)9901 | €6k | €157k | €165k | €95k | €156k | ▲ 64.8% |
| Financial income75/76B | - | €27k | €19k | €12k | €8k | ▼ 31.0% |
| Recurring financial income75 | €11k | €27k | €19k | €12k | €8k | ▼ 31.0% |
| Financial charges65/66B | - | €52k | €99k | €54k | €102k | ▲ 88.4% |
| Recurring financial charges65 | €48k | €52k | €99k | €54k | €102k | ▲ 88.4% |
| Profit (loss) for the period before taxes9903 | €-31k | €132k | €85k | €52k | €62k | ▲ 19.2% |
| Income taxes67/77 | €335 | €30k | €25k | €16k | €20k | ▲ 22.4% |
| Profit (loss) for the period9904 | €-31k | €102k | €60k | €36k | €43k | ▲ 17.8% |
| Profit (loss) for the period to be appropriated9905 | €-31k | €102k | €60k | €36k | €43k | ▲ 17.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.58M | €2.06M | €1.84M | €1.44M | €1.24M | ▼ 14.0% |
| Fixed assets21/28 | €594k | €622k | €563k | €447k | €375k | ▼ 16.0% |
| Tangible fixed assets22/27 | €592k | €620k | €562k | €445k | €373k | ▼ 16.1% |
| Land and buildings22 | - | €351k | €333k | €315k | €297k | ▼ 5.8% |
| Plant, machinery and equipment23 | - | €243k | €211k | €110k | €67k | ▼ 38.9% |
| Furniture and vehicles24 | - | €26k | €17k | €20k | €9k | ▼ 53.1% |
| Financial fixed assets28 | €2k | €2k | €2k | €2k | €2k | = |
| Current assets29/58 | €986k | €1.43M | €1.28M | €997k | €867k | ▼ 13.1% |
| Stocks and contracts in progress3 | €425k | €640k | €360k | €375k | €320k | ▼ 14.7% |
| Contracts in progress37 | - | €640k | €360k | €375k | €320k | ▼ 14.7% |
| Amounts receivable within one year40/41 | €472k | €634k | €871k | €557k | €510k | ▼ 8.5% |
| Trade receivables40 | - | €504k | €691k | €435k | €460k | ▲ 5.6% |
| Other amounts receivable41 | - | €131k | €179k | €122k | €50k | ▼ 58.9% |
| Cash at bank and in hand54/58 | €76k | €148k | €39k | €55k | €28k | ▼ 49.3% |
| Deferred charges and accrued income490/1 | - | €12k | €8k | €9k | €9k | ▼ 8.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.58M | €2.06M | €1.84M | €1.44M | €1.24M | ▼ 14.0% |
| Equity10/15 | €266k | €368k | €321k | €251k | €293k | ▲ 17.0% |
| Contributions10/11 | - | €12k | €12k | €12k | €12k | = |
| Reserves13 | €283k | €355k | €308k | €238k | €281k | ▲ 17.9% |
| Non-distributable reserves130/1 | - | €2k | €0 | - | - | - |
| Reserves not available under the articles1311 | - | €2k | €0 | - | - | - |
| Distributable reserves133 | - | €354k | €308k | €238k | €281k | ▲ 17.9% |
| Profit (loss) carried forward14 | €-30k | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €1.31M | €1.69M | €1.52M | €1.19M | €948k | ▼ 20.5% |
| Amounts payable after more than one year17 | €308k | €336k | €291k | €220k | €171k | ▼ 22.0% |
| Financial debts170/4 | - | €336k | €291k | €220k | €171k | ▼ 22.0% |
| Amounts payable within one year42/48 | €1.01M | €1.35M | €1.23M | €973k | €777k | ▼ 20.2% |
| Current portion of amounts payable after more than one year42 | - | €105k | €93k | €72k | €48k | ▼ 32.8% |
| Trade debts44 | €842k | €1.24M | €894k | €778k | €633k | ▼ 18.6% |
| Suppliers440/4 | - | €1.24M | €894k | €778k | €633k | ▼ 18.6% |
| Advances received on contracts in progress46 | - | - | €117k | €0 | - | - |
| Taxes, remuneration and social security45 | - | €11k | €17k | €17k | €95k | ▲ 457% |
| Taxes450/3 | - | €11k | €17k | €17k | €32k | ▲ 88.5% |
| Remuneration and social security454/9 | - | - | - | - | €63k | - |
| Other amounts payable47/48 | - | €0 | €107k | €106k | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | €423 | €397 | €399 | €354 | ▼ 11.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-31k | €102k | €60k | €36k | €43k | ▲ 17.8% |
| + Depreciation and write-downs630 | €173k | €169k | €90k | €73k | €74k | ▲ 2.1% |
| Operating cash flow (approximation) | €141k | €271k | €151k | €109k | €117k | ▲ 7.3% |
| Investment in fixed assets (approximation) | - | €-197k | €-32k | €44k | €-3k | ▼ 106% |
| Change in cash | - | €72k | €-109k | €17k | €-27k | ▼ 264% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
24-02
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 24 days late
2025
21-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 21 days late
2024
21-02
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 21 days late
2023
08-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 36 days late
2022
30-06
Financial
Back to profitnet €102k
Net result €102k after one loss-making year.
18-02
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 18 days late
2021
30-06
Financial
Weakest financial yearnet €-31k
Net result drops to €-31k, the lowest in the series; recovery starts the following year.
22-02
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 22 days late
2020
03-02
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 3 days late
2019
28-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
30-11
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 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, Menen · 1 establishment unit since 2012
Ground area
2,994 m²
Building footprint
184 m²
Volume, LiDAR
763 m³
Parcel 34027F0520/00A002, Flanders · tallest building 5.9 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Vanneste Construct BVBA
since 20122.205.838.792
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34027F0520/00A002 | Flanders | 2,994 m² | 1 · 184 m² | 5.9 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 15,529 companies in sector 43990 we hold annual accounts for 7,420. 5,418 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded23-12-2011
Fiscal year end30-06
Activities, NACEBEL 2025
41001General construction of residential buildings
43990Other specialised construction activities
43240Other construction installation
43910Bricklaying and masonry work
Scores and ratios are computed by Checked and are not a credit decision.