VDL De Meeuw
ActiveVDL De Meeuw has been active since 1984 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €9.55M and a net result of €831k. Equity is growing by ~7.8% per year across the filed fiscal years. Its solvency ranks better than 60% of 122 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
88
/ 100
Excellent▼ -7 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability41▼-11
Solvency98▼-1
Growth66▲+3
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €850k at 30 days acceptable
Liquidity ample (current ratio 3.22 against 4.2 in 2024), and 43.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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
56.4%
Return on assets
4.9%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 24
Relative position
BE, all sectors
reference
Sector 24
higher
← fewer bankruptcies
more bankruptcies →
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 10-06-2026, 51 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
51 d early
2024
38 d early
2023
63 d early
2022
35 d early
2021
45 d early
2020
40 d early
2019
72 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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€21.71M▲ 16.2%
2024 · €18.67M
2018: €17.99M
2019: €29.47M
2020: €18.64M
2021: €12.92M
2022: €18.57M
2023: €25.93M
2024: €18.67M
2018 → 2025
EBIT margin
4.8%▼ 2.0pp
2024 · 6.8%
2018: -1.8%
2019: 8.4%
2020: 1.3%
2021: 4.8%
2022: 6.5%
2023: 6.9%
2024: 6.8%
2018 → 2025
Net result
€831k▼ 21.4%
2024 · €1.06M
2018: €-431k
2019: €2.18M
2020: €184k
2021: €553k
2022: €863k
2023: €1.28M
2024: €1.06M
2018 → 2025
Working capital
€9.08M▼ 3.1%
2024 · €9.37M
2018: €2.86M
2019: €4.51M
2020: €9.03M
2021: €8.89M
2022: €9.09M
2023: €8.99M
2024: €9.37M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€12.92M-€18.57M▲ 43.8%€25.93M▲ 39.6%€18.67M▼ 28.0%€21.71M▲ 16.2%
Equity€7.24M-€8.10M▲ 11.9%€8.52M▲ 5.2%€9.17M▲ 7.6%€9.55M▲ 4.2%
Operating result€619k-€1.20M▲ 94.5%€1.79M▲ 48.3%€1.28M▼ 28.4%€1.04M▼ 18.3%
Net result€553k-€863k▲ 56.0%€1.28M▲ 48.4%€1.06M▼ 17.4%€831k▼ 21.4%
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 18% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €16.94M
Fixed assets
€3.75M▲ 42.8%
Current assets
€13.18M▲ 7.2%
Equity and liabilities €16.94M
Equity
€9.55M▲ 4.2%
Provisions
€294k▼ 3.6%
Debt
€7.09M▲ 30.1%
The debt ratio rises from 36.5% to 41.9%: debt grows faster than equity.
Key figures and ratios
EBITDA
€1.51M▼
2024 · €1.68M
Cash flow
€1.30M▼
2024 · €1.46M
Solvency
56.4%▼
2024 · 61.4%
Current ratio
3.22▼
2024 · 4.20
Quick ratio
2.73▼
2024 · 3.62
Debt / equity
0.74▲
2024 · 0.59
ROE
8.7%▼
2024 · 11.5%
ROA
4.9%▼
2024 · 7.1%
Interest coverage
14.42▼
2024 · 18.78
Debt
€7.09M▲
2024 · €5.45M
Debt ≤ 1 year
€4.10M▲
2024 · €2.93M
Debt > 1 year
€2.88M▲
2024 · €2.44M
Income taxes
€321k▼
2024 · €412k
Staff costs
€5.63M▲
2024 · €5.23M
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€14.93M€16.94M▲
Fixed assets21/28€2.63M€3.75M▲
Tangible fixed assets22/27€2.63M€3.75M▲
Land and buildings22€1.67M€1.55M▼
Plant, machinery and equipment23€273k€1.49M▲
Furniture and vehicles24€196k€338k▲
Leasing and similar rights25€433k€343k▼
Other tangible fixed assets26€55k€31k▼
Financial fixed assets28€766€766=
Other financial fixed assets284/8€766€766=
Amounts receivable and cash guarantees285/8€766€766=
Current assets29/58€12.30M€13.18M▲
Stocks and contracts in progress3€1.70M€2.01M▲
Stocks30/36€1.55M€1.89M▲
Raw materials and consumables30/31€1.55M€1.89M▲
Contracts in progress37€150k€112k▼
Amounts receivable within one year40/41€10.13M€8.90M▼
Trade receivables40€2.59M€6.42M▲
Other amounts receivable41€7.54M€2.47M▼
Cash at bank and in hand54/58€441k€2.17M▲
Deferred charges and accrued income490/1€31k€106k▲
Equity and liabilities
Total equity and liabilities10/49€14.93M€16.94M▲
Equity10/15€9.17M€9.55M▲
Contributions10/11€200k€200k=
Capital10€200k€200k=
Issued capital100€200k€200k=
Reserves13€8.97M€9.35M▲
Non-distributable reserves130/1€1.87M€1.87M=
Legal reserve130€20k€20k=
Reserves not available under the articles1311€1.85M€1.85M=
Tax-exempt reserves132€186€186=
Distributable reserves133€7.10M€7.48M▲
Provisions and deferred taxes16€305k€294k▼
Provisions for liabilities and charges160/5€305k€294k▼
Other liabilities and charges164/5€305k€294k▼
Amounts payable17/49€5.45M€7.09M▲
Amounts payable after more than one year17€2.44M€2.88M▲
Financial debts170/4€2.44M€2.88M▲
Leasing and similar obligations172€402k€297k▼
Credit institutions173€2.04M€2.58M▲
Amounts payable within one year42/48€2.93M€4.10M▲
Current portion of amounts payable after more than one year42€604k€704k▲
Trade debts44€1.69M€2.44M▲
Suppliers440/4€1.69M€2.44M▲
Advances received on contracts in progress46€24k€332k▲
Taxes, remuneration and social security45€607k€627k▲
Taxes450/3€14k€5k▼
Remuneration and social security454/9€593k€623k▲
Accrued charges and deferred income492/3€83k€113k▲
Income statement
Code20242025
Operating income70/76A€22.29M€26.02M▲
Turnover70€18.67M€21.71M▲
Change in stocks of work in progress, finished goods and contracts in progress71€-523k€-38k▲
Own construction capitalised72€26k-
Other operating income74€4.12M€4.36M▲
Operating charges60/66A€21.01M€24.98M▲
Goods for resale, raw materials and consumables60€12.50M€16.21M▲
Purchases600/8€12.19M€16.55M▲
Change in stocks: decrease (increase)609€312k€-343k▼
Services and other goods61€2.75M€2.57M▼
Remuneration, social security and pensions62€5.23M€5.63M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€404k€469k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€5k€-11k▼
Other operating charges640/8€118k€118k▲
Operating profit (loss)9901€1.28M€1.04M▼
Financial income75/76B€296k€237k▼
Recurring financial income75€289k€224k▼
Income from current assets751€289k€141k▼
Other financial income752/9€0€84k▲
Non-recurring financial income76B€7k€13k▲
Financial charges65/66B€105k€129k▲
Recurring financial charges65€105k€129k▲
Debt charges650€90k€105k▲
Other financial charges652/9€16k€24k▲
Profit (loss) for the period before taxes9903€1.47M€1.15M▼
Income taxes67/77€412k€321k▼
Taxes670/3€412k€326k▼
Tax adjustments and reversals of tax provisions77-€5k
Profit (loss) for the period9904€1.06M€831k▼
Profit (loss) for the period to be appropriated9905€1.06M€831k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.06M€831k▼
Transfer from equity791/2€409k€450k▲
From reserves792€409k€450k▲
Transfer to equity691/2€1.06M€831k▼
To other reserves6921€1.06M€831k▼
Profit to be distributed694/7€409k€450k▲
Return on contributions (dividend)694€409k€450k▲
Social balance
Average headcount (FTE)908761.963.9▲
The notes to these accounts (71 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
10-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
29-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
26-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
16-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Liquidity doublescurrent ratio 3.35
Current ratio from 1.36 to 3.35; short-term debt falls from €12.54M to €3.85M.
20-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Back to profitnet €2.18M
Net result €2.18M after one loss-making year.
31-12
Financial
Equity above €5MEq €6.50M ▲50.3%
Equity rises from €4.32M to €6.50M.
09-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
23-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
16-06
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
28 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, Willebroek · 1 establishment unit since 1984
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.
Koning Leopoldlaan 82830 WillebroekGround area
3,221 m²
Building footprint
942 m²
Volume, LiDAR
7,363 m³
Parcel 12036D0037/00M000, Flanders · tallest building 12.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Koning Leopoldlaan 8, 2830 Willebroek
since 19842.025.850.146
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12036D0037/00M000 | Flanders | 3,221 m² | 1 · 942 m² | 12.7 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.
Recognitions · licences · registrations
Recognised contractor
4 categoriesVDL De Meeuw NV36881
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Of 192 companies in sector 24100 we hold annual accounts for 135. 61 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded09-11-1984
Fiscal year end31-12
Activities, NACEBEL
24100Manufacture of basic metals
77394Rental and leasing activities
33110Repair and maintenance of fabricated metal products
34201
Sources
Crossroads Bank for EnterprisesNational Bank · 41 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.