Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of VIGO is 0.8% (low). The 2025 annual accounts show equity of €10.91M and a net result of €8.27M. Equity remains stable across the filed fiscal years (±1.3% per year). Its solvency ranks better than 31% of 73 sector peers (fiscal year 2025). The company has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 5 annual accounts.
Trust signals
2 signalsAdministrative Flags
Bankruptcy probability (12 mo)
Checked model v1 · free for everyoneStatistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Financials
Annual accounts & ratios
Source: NBB · 2025How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 16.0% | 33.0% | |
| Net result | €8.27M | €12k | |
| Equity | €10.91M | €38k | |
| Total assets | €68.08M | €195k |
| Fiscal year | 2025 |
|---|---|
| Revenue | €107.74M |
| EBITDA | €16.33M |
| Net profit | €8.27M |
| Cash flow | €12.56M |
| Staff costs | €38.04M |
| Income taxes | €2.67M |
| Dividends | €8.00M |
| Total assets | €68.08M |
| Equity | €10.91M |
| Debt | €57.17M |
| of which ≤ 1y | €36.12M |
| of which > 1y | €21.05M |
| Working capital | €15.00M |
| Employees (FTE) | 516.0 |
| 2025 | |
|---|---|
| Current ratio | 1.42 |
| Quick ratio | 1.17 |
| Working capital ratio | 22.0% |
| Solvency | 16.0% |
| Debt / equity | 5.24 |
| Long-term debt ratio | 1.93 |
| Interest coverage | 10.46 |
| Gross margin | 69.5% |
| Net margin | 7.7% |
| ROA | 12.1% |
| ROE | 75.8% |
| EBITDA margin | 15.2% |
| Days sales outstanding | 105d |
| Days payable outstanding | 130d |
| Inventory turnover | 3.73 |
| Days inventory (DSI) | 98d |
| Line item | Code | 2025 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €68.08M |
| Fixed assets | 21/28 | €16.97M |
| Intangible fixed assets | 21 | €7.04M |
| Tangible fixed assets | 22/27 | €9.88M |
| Financial fixed assets | 28 | €45k |
| Current assets | 29/58 | €51.12M |
| Stocks & contracts in progress | 3 | €8.80M |
| Amounts receivable within one year | 40/41 | €40.18M |
| Cash & bank | 54/58 | €1.74M |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €68.08M |
| Equity | 10/15 | €10.91M |
| Contributions / capital | 10/11 | €2.71M |
| Reserves | 13 | €8.19M |
| Accumulated profits (losses) | 14 | €0 |
| Provisions & deferred taxes | 16 | €6k |
| Amounts payable | 17/49 | €57.17M |
| Amounts payable after one year | 17 | €21.05M |
| Amounts payable within one year | 42/48 | €36.12M |
| Trade debts payable within one year | 44 | €11.72M |
| Income statement | ||
| Turnover | 70 | €107.74M |
| Operating result | 9901 | €12.04M |
| Financial income | 75 | €512k |
| Financial charges | 65 | €1.61M |
| Result before taxes | 9903 | €10.94M |
| Income taxes | 67/77 | €2.67M |
| Net result for the period | 9904 | €8.27M |
| Result to be appropriated | 9905 | €8.27M |
Health barometer
FY 2025 · computedUnlock the full score breakdown, per-year score history and the indicative credit limit with Plus.
See plans →Directors
Directors & mandates
30 directorsHistoric, not recently confirmed (20)
-
Not recently confirmedlast confirmed in an act from 2020
-
Not recently confirmedlast confirmed in an act from 2020
3 events
- 01-03-2020 Resigned· Director
- 01-03-2020 Appointed· Managing director
- 04-11-2019 Appointed· Director
-
Not recently confirmedlast confirmed in an act from 2020
-
Not recently confirmedlast confirmed in an act from 2020
-
Not recently confirmedlast confirmed in an act from 2020
2 events
- 01-03-2020 Appointed· Director
- 01-03-2020 Appointed· Managing director
-
Not recently confirmedlast confirmed in an act from 2019
-
L&J-LABEL BVBALegal entityManaging director· perm. rep.: Jan RuysschaertState Gazette act 19167053 (24-12-2019)Not recently confirmedlast confirmed in an act from 2019
-
Not recently confirmedlast confirmed in an act from 2019
3 events
- 24-12-2019 Mandate renewed· Director
- 07-08-2014 Mandate renewed· Director
- 02-02-2004 Appointed· Director
-
Vigo International NVLegal entityDirector· perm. rep.: Jan RuysschaertState Gazette act 18014212 (19-01-2018)Not recently confirmedlast confirmed in an act from 2018
2 events
- 01-01-2018 Appointed· Director
- 01-01-2018 Appointed· Managing director
-
Not recently confirmedlast confirmed in an act from 2008
-
VC ProjectsLegal entityDirector· perm. rep.: Stefan VuylstekeState Gazette act 08118524 (16-07-2008)Not recently confirmedlast confirmed in an act from 2008
-
BVBA K.M.O.-AviesLegal entityDirector· perm. rep.: Nele VanhouteghemState Gazette act 08116478 (14-07-2008)Not recently confirmedlast confirmed in an act from 2008
-
Comm.VA C.E.R.Legal entityDirector· perm. rep.: Jan RuysschaertState Gazette act 08116478 (14-07-2008)Not recently confirmedlast confirmed in an act from 2008
2 events
- 20-06-2008 Mandate renewed· Director
- 20-06-2008 Appointed· Managing director
-
Luna Consulting BVBALegal entityDirector· perm. rep.: Luc NAESSENSState Gazette act 08116478 (14-07-2008)Not recently confirmedlast confirmed in an act from 2008
Former directors (10)
-
Former01-03-2020 → 17-02-2022
3 events
- 17-02-2022 Resigned· Director
- 01-03-2020 Appointed· Director
- 01-03-2020 Appointed· Managing director
-
Former01-03-2020 → 17-02-2022
3 events
- 17-02-2022 Resigned· Director
- 01-03-2020 Appointed· Director
- 01-03-2020 Appointed· Managing director
-
S. Van HeckeLegal entityDirector· perm. rep.: Steve Van HeckeState Gazette act 20047173 (06-04-2020)Former01-03-2020 → 17-02-2022
3 events
- 17-02-2022 Resigned· Director
- 01-03-2020 Appointed· Director
- 01-03-2020 Appointed· Managing director
-
TWINCLegal entityDirector· perm. rep.: Titia WillemsState Gazette act 22021909 (17-02-2022)Former- → 17-02-2022
-
K.M.O. ADVIESLegal entityDirector· perm. rep.: Nele VanhouteghemState Gazette act 19167053 (24-12-2019)Former24-12-2019 → 01-03-2020
2 events
- 01-03-2020 Resigned· Director
- 24-12-2019 Mandate renewed· Director
-
Vigo Group NVLegal entityDirector· perm. rep.: Jan RuysschaertState Gazette act 18014212 (19-01-2018)Former- → 01-01-2018
2 events
- 01-01-2018 Resigned· Director
- 01-01-2018 Resigned· Managing director
-
C.E.R. - CLINICAL ENGINEERING & RESEARCHLegal entityDirector· perm. rep.: Jan RuysschaertState Gazette act 04017038 (02-02-2004)Former02-02-2004 → 30-06-2014
3 events
- 30-06-2014 Resigned· Managing director
- 02-02-2004 Mandate renewed· Director
- 02-02-2004 Mandate renewed· Managing director
-
De Wilde J ManagementLegal entityDirector· perm. rep.: Julien De WildeState Gazette act 14212272 (25-11-2014)Former- → 16-06-2008
-
Former- → 16-06-2008
-
Former- → 02-02-2004
Statutory auditor
5 auditors| Statutory auditor | IRE/IBR number | Tenure |
|---|---|---|
| KPMG Réviseurs d'EntreprisesCurrent Statutory auditor · represented by Wim Heyndrickx |
- | 01-01-2023 → present |
| BDO Bedrijfsrevisoren Burg. Ven. CVBA Statutory auditor · represented by Erik Thuysbaert succeeded by PWC Bedrijfsrevisoren BCVBA in 2018 |
- | 10-08-2015 → 27-07-2018 |
| Ernst et Young Reviseurs d'Entreprises Statutory auditor · represented by Lieve Cornelis succeeded by KPMG Réviseurs d'Entreprises in 2023 |
- | 01-01-2020 → 01-01-2023 |
| Pwc Bedrijfsrevisoren Statutory auditor · represented by Peter Opsomer succeeded by KPMG Réviseurs d'Entreprises in 2023 |
- | 01-12-2018 → 01-01-2023 |
| PWC Bedrijfsrevisoren BCVBA Statutory auditor · represented by Filip Drieghe succeeded by Ernst et Young Reviseurs d'Entreprises in 2020 |
- | 27-07-2018 → 01-01-2020 |
Insolvency mandates
Legal Structure
| NACE primary | Vervaardiging van medische en tandheelkundige instrumenten en benodigdheden(32500) |
| Legal form | Public limited company(014) |
| Incorporation | 12-06-1991 |
| Status | Active |
| Postal code | 9230 |
Structure & network
Connections & network
14 connected companiesLocations & real estate
Registered office
on the map · from the address registerEstablishment units
17 locationsReal-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24505K0046/00H004 | Flanders | 42.5 ha | 1 · 6.4 ha | 34.2 m · 3 fl. |
| 42025G0818/00F000 | Flanders | 1.1 ha | 1 · 2,653 m² | 9.4 m · 3 fl. |
| 24514C0087/00A000 | Flanders | 1.0 ha | 1 · 1,667 m² | 11.4 m · 3 fl. |
| 24090C0184/00E000 | Flanders | 9,149 m² | 1 · 8,547 m² | 34.2 m · 6 fl. |
| 11345B0223/00F005 | Flanders | 8,821 m² | 1 · 1.2 ha | - |
| 92039A0089/00X002 | Wallonia | 7,919 m² | 1 · 394 m² | 12.1 m · 3 fl. |
| 71328D0501/00D000 | Flanders | 6,292 m² | 1 · 1,035 m² | - |
| 71304E0724/00V015 | Flanders | 4,487 m² | 1 · 1,234 m² | 8.9 m · 2 fl. |
| 23095C0033/00G004 | Flanders | 3,335 m² | 1 · 637 m² | 10.4 m · 2 fl. |
| 11462A0169/00R007 | Flanders | 1,345 m² | 1 · 924 m² | 11.8 m · 3 fl. |
7 more parcels, available with Plus.
See plans →Publications
Lifecycle & Insolvency Signals
Belgian State Gazette · acts
51 verified actsWhat every Belgian State Gazette publication actually says, each act broken down into appointments, capital movements, seat moves and statute amendments.
- General meeting , 02/06/2025
- Board meeting , 02/06/2025
- Director reappointment, M.M.C. BV (bestuurder)
- Director reappointment, S. VAN HECKE BV (bestuurder)
- Director reappointment, ELODUS BV (bestuurder)
- Director reappointment, TWINC BV (bestuurder)
- General meeting , 30/12/2024
- Merger , verrichting gelijkgesteld met fusie door overneming, 30/12/2024
- Accounting effect , 01/11/2024
- Capital increase , €24.800
- Capital , €2.701.800
- Power of attorney, RVH-Notarissen
- General meeting , 30/12/2024
- Merger , verrichting gelijkgesteld met fusie door overneming, 30/12/2024
- Accounting effect , 01/10/2024
- Capital increase , €65.000
- Capital , €2.677.000
- Power of attorney, Julie Vanermen
- Merger , vereenvoudigde zusterfusie
- Accounting effect , 01/11/2024
- Corporate purpose , De vennootschap heeft als voorwerp, zowel in België als in het buitenland, voor eigen rekening of voor rekening van derden, al dan niet onrechtstreeks door midd…
- Corporate purpose , De vennootschap heeft tot voorwerp voor eigen rekening of voor rekening van derden, in eigen naam of als tussenpersoon of commissionair: a) de fabricatie en all…
- Real estate , Een handelspand met grond en alle verdere aanhorigheden, staande en gelegen te 3600 Genk, Henry Fordlaan 43 (gekend in het kadester onder: Genk, 4° afdeling Sec…
- Power of attorney, Louis Clarys
- Merger , vereenvoudigde zusterfusie
- Accounting effect , 01/10/2024
- Corporate purpose , De vennootschap heeft tot voorwerp, zowel in België als in het buitenland, voor eigen rekening of voor rekening van derden, of door deelname van dezen: 1/ Het k…
- Corporate purpose , De vennootschap heeft tot voorwerp voor eigen rekening of voor rekening van derden, in eigen naam of als tussenpersoon of commissionair: a) de fabricatie en all…
- Power of attorney, Louis Clarys
- Power of attorney, Louis Clarys
- General meeting , 22/01/2024
- Auditor appointment, KPMG Bedrijfsrevisoren BV (commissaris)
- Mandate compensation, KPMG Bedrijfsrevisoren BV
- General meeting , 10/01/2022
- Merger , 10/01/2022
- Dissolution , 2022-01-10
- Accounting effect , 31/12/2021
- Corporate purpose , het vervaardigen van allerhande prothesen en orthopedisch materiaal en aanverwante activiteiten
- Permanent representative, Michiel Meerbergen
- Merger
- Accounting effect , 01/01/2022
- Corporate purpose , De vennootschap heeft tot voorwerp voor eigen rekening of voor rekening van derden, in eigen naam of als tussenpersoon of commissionair: a)de fabrícatie en alle…
- Corporate purpose , De vennootschap heeft tot voorwerp: Alle verrichtingen die verbintenissen scheppen, wijzígen of teniet doen in verband met medische en paramedische apparaten en…
- Real estate , Een handelseigendom op en met grond en alle verdere aanhorigheden, staande en gelegen te 2100 Antwerpen-district Deurne, Herentalsebaan 414, thans ten kadaster…
- Real estate , Een handelshuis op en met grond en aanhorigheden, staande en gelegen te Antwerpen (Deurne), Herentalsebaan 416, thans ten kadaster gekend wijk B nummer 437/D/9…
- General meeting , 08/01/2021
- Merger , 08/01/2021
- Dissolution , 2021-01-08
- Accounting effect , 31/12/2020
- Corporate purpose , vervaardigen van allerhande prothesen en orthopedisch materiaal en aanverwante activiteiten
- Power of attorney, Olivier Van Maele
- General meeting , 08/01/2021
- Merger , 08/01/2021
- Dissolution , 2021-01-08
- Accounting effect , 31/12/2020
- Power of attorney, Olivier Van Maele
- Power of attorney, Julie Vanermen
- General meeting , 26/06/2020
- Auditor appointment, EY Bedrijfsrevisoren BV
- Merger , geruisloze fusie
- Accounting effect , 01/01/2021
- Corporate purpose , De vennootschap heeft tot doel: De productie en handel zowel in groothandel als detailhandel, import en export van alle orthopedische en paramedische toestellen…
- Corporate purpose , De vennootschap heefttotvoorwerp voor eigen rekening of voor rekening van derden, in eígen naam of als tussenpersoon of commissionair: a) de fabricatie en alle…
- Power of attorney, e12, e13, e14, e15
- Power of attorney, e12, e13, e14, e15
Show 12 older acts
What every Belgian State Gazette publication actually says, each act broken down into appointments, capital movements, seat moves and statute amendments.
- Merger , geruisloze fusie
- Accounting effect , 01/01/2021
- Corporate purpose , De vennootschap heeft tot voorwerp, in België of in het buitenland, hetzij rechtstreeks, hetzij als tussenpersoon, uitsluitend in eigen naam en voor eigen reken…
- Corporate purpose , De vennootschap heeft tot voorwerp voor eigen rekening of voor rekening van derden, in eigen naam of als tussenpersoon of commissionair: a) de fabricatie en all…
- Permanent representative, dr. Steve Van Hecke
- Permanent representative, dr. Michiel Meerbergen
- General meeting , 12/03/2020
- Statutes amendment
- Accounting effect , 01/03/2020
- Corporate purpose , De vennootschap heeft tot voorwerp voor eigen rekening of voor rekening van derden, in eigen naam of als tussenpersoon of commissionair: a) de fabricatie en all…
- Capital , €2.612.000
- Director resignation, VIGO INTERNATIONAL (bestuurder)
- General meeting , 07/06/2019
- Director reappointment, Hendrikus Van Der Meulen (bestuurder)
- Director reappointment, EVORA BVBA (bestuurder)
- Director reappointment, KMO ADVIES BVBA (bestuurder)
- General meeting , 04/11/2019
- Director resignation, Evora BVBA (bestuurder)
- Permanent representative, Daniel Vandeven
- Director resignation, Hendrikus van der Meulen (bestuurder)
- Director appointment, Michiel Meerbergen (bestuurder)
- Mandate compensation, Michiel Meerbergen
- General meeting , 26/03/2019
- Merger , absorption, overdracht van gehele vermogen
- Accounting effect , 28/02/2019
- Power of attorney, raad van bestuur
- Share concentration , ja
- Board meeting , 10/01/2019
- Merger
- Accounting effect , 28/02/2019
- Target approval date , 30/06/2019
- Statutes amendment
- Statutes amendment
- Corporate purpose , a) de fabricatie en alle verrichtingen die rechtstreeks of onrechtstreeks betrekking hebben op het vervaardigen van artikelen voor orthopedie... b) de construct…
- Capital , €2.612.000
- Director appointment, V!GO International (A-bestuurder)
- Permanent representative, Jan Ruysschaert
- General meeting , 17/12/2018
- Permanent representative, Peter Opsomer
- Power of attorney, Goedele Buekens
- Power of attorney, Peter Rooryck
- General meeting , 12/06/2018
- Auditor appointment, BCVBA PwC Bedrijfsrevisoren (commissaris)
- Permanent representative, Filip Drieghe (vertegenwoordiger)
- Permanent representative, Jan Ruysschaert (vast vertegenwoordigd)
- General meeting , 31/05/2018
- Permanent representative, NOMAD Invest NV
- Permanent representative, Nele Vanhouteghem
- General meeting , 18/12/2017
- Statutes amendment
- Power of attorney, raad van bestuur
- Certificate repurchase , VIGO GROUP, 7322
- General meeting , 22/12/2017
- Board meeting , 22/12/2017
- Director resignation, Vigo Group NV (bestuurder)
- Director resignation, Vigo Group NV (gedelegeerd bestuurder)
- Director appointment, Vigo International NV (bestuurder)
- Director appointment, Vigo International NV (gedelegeerd bestuurder)
Analysis
Snowflake analysis
financial profile on 5 axesStrong profile, led by stability.
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