VPK SERVICES
ActiveSummary
VPK SERVICES has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €157.44M and a net result of €9.06M. Equity remains stable across the filed fiscal years (±0.8% per year). Its solvency ranks better than 31% of 4602 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2024
58
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability14▼-33
Solvency52▲+5
Growth53▲+1
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €140k at 30 days acceptable
Liquidity ample (current ratio 3.81 against 2.8 in 2023; short-term debt: 26.2% and cash: 14.3% of total assets), but 72.5% of the assets are financed with debt.
Credit check 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 70
Relative position
BE, all sectors
reference
Sector 70
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 2024Solvency, return and age of the figures
Solvency
27.5%
Return on assets
1.6%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 17-06-2025, 44 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
44 d early
2023
48 d early
2022
42 d early
2021
45 d early
2020
18 d early
2019
14 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
€1.48M▲ 7.2%
2023 · €1.38M
2018: €2.58M
2019: €1.24M
2020: €1.14M
2021: €1.46M
2022: €1.68M
2023: €1.38M
2018 → 2024
EBIT margin
-6.1%▼ 106.0pp
2023 · 100.0%
2018: 28.2%
2019: 37.5%
2020: 16.9%
2021: 13.1%
2022: 58.1%
2023: 100.0%
2018 → 2024
Net result
€9.06M▲ 16.2%
2023 · €7.80M
2018: €-1.43M
2019: €1.16M
2020: €1.56M
2021: €771k
2022: €-4.49M
2023: €7.80M
2018 → 2024
Working capital
€422.72M▼ 1.4%
2023 · €428.51M
2018: €304.46M
2019: €367.17M
2020: €318.08M
2021: €404.55M
2022: €456.38M
2023: €428.51M
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€1.14M-€1.46M▲ 28.2%€1.68M▲ 14.8%€1.38M▼ 17.9%€1.48M▲ 7.2%
Equity€149.29M-€150.06M▲ 0.5%€145.57M▼ 3.0%€148.37M▲ 1.9%€157.44M▲ 6.1%
Operating result€193k-€191k▼ 1.1%€973k▲ 410%€1.38M▲ 41.4%€-90k
Net result€1.56M-€771k▼ 50.7%€-4.49M€7.80M€9.06M▲ 16.2%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €90k after €1.38M in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €573.16M
Fixed assets
€6k ▼ 66.6%
Current assets
€573.16M ▼ 14.1%
Equity and liabilities €573.16M
Equity
€157.44M ▲ 6.1%
Debt
€415.73M ▼ 19.9%
Debt's share of the balance-sheet total falls from 77.8% to 72.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€-75k▼
2023 · €1.39M
Cash flow
€9.08M▲
2023 · €7.82M
Current ratio
3.81▲
2023 · 2.80
Debt to equity
2.64▼
2023 · 3.50
ROE
5.8%▲
2023 · 5.3%
ROA
1.6%▲
2023 · 1.2%
Interest coverage
-0.01▼
2023 · 0.10
Debt ≤ 1 year
€150.44M▼
2023 · €238.61M
Debt > 1 year
€263.11M▼
2023 · €279.75M
Income taxes
€3.07M▲
2023 · €1.43M
Staff costs
€3.49M▲
2023 · €3.23M
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 · 2024 against 2023 · 72 lines
Balance sheet
Code20232024
Assets
Total assets20/58€667.14M€573.16M▼
Fixed assets21/28€17k€6k▼
Intangible fixed assets21€12k-
Tangible fixed assets22/27€5k€6k▲
Furniture and vehicles24€5k€6k▲
Financial fixed assets28€1€1=
Affiliated companies280/1€1€1=
Participating interests280€1€1=
Current assets29/58€667.12M€573.16M▼
Amounts receivable after more than one year29€483.47M€400.17M▼
Other amounts receivable291€483.47M€400.17M▼
Amounts receivable within one year40/41€63.20M€90.20M▲
Trade receivables40€2.13M€2.42M▲
Other amounts receivable41€61.08M€87.78M▲
Cash at bank and in hand54/58€119.24M€81.92M▼
Deferred charges and accrued income490/1€1.21M€862k▼
Equity and liabilities
Total equity and liabilities10/49€667.14M€573.16M▼
Equity10/15€148.37M€157.44M▲
Contributions10/11€5.00M€5.00M=
Capital10€5.00M€5.00M=
Issued capital100€5.00M€5.00M=
Reserves13€6.89M€6.89M=
Non-distributable reserves130/1€6.89M€6.89M=
Legal reserve130€6.89M€6.89M=
Profit (loss) carried forward14€136.49M€145.55M▲
Amounts payable17/49€518.76M€415.73M▼
Amounts payable after more than one year17€279.75M€263.11M▼
Financial debts170/4€279.75M€263.11M▼
Credit institutions173€235.00M€235.00M=
Other loans174€44.75M€28.11M▼
Amounts payable within one year42/48€238.61M€150.44M▼
Current portion of amounts payable after more than one year42€10.00M-
Financial debts43€49.39M€41.57M▼
Credit institutions430/8€8.38M€6.26M▼
Other loans439€41.01M€35.30M▼
Trade debts44€1.38M€968k▼
Suppliers440/4€1.38M€968k▼
Taxes, remuneration and social security45€994k€1.05M▲
Taxes450/3€527k€488k▼
Remuneration and social security454/9€467k€559k▲
Other amounts payable47/48€176.85M€106.86M▼
Accrued charges and deferred income492/3€403k€2.18M▲
Income statement
Code20232024
Operating income70/76A€8.40M€8.66M▲
Turnover70€1.38M€1.48M▲
Other operating income74€7.02M€7.18M▲
Operating charges60/66A€7.02M€8.75M▲
Services and other goods61€3.78M€5.24M▲
Remuneration, social security and pensions62€3.23M€3.49M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€14k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€2k
Other operating charges640/8€1k€1k▲
Operating profit (loss)9901€1.38M€-90k▼
Financial income75/76B€24.92M€26.72M▲
Recurring financial income75€24.92M€26.72M▲
Income from current assets751€23.32M€25.55M▲
Other financial income752/9€1.60M€1.17M▼
Financial charges65/66B€17.06M€14.49M▼
Recurring financial charges65€16.10M€14.49M▼
Debt charges650€14.49M€12.40M▼
Other financial charges652/9€1.60M€2.10M▲
Non-recurring financial charges66B€966k-
Profit (loss) for the period before taxes9903€9.23M€12.14M▲
Income taxes67/77€1.43M€3.07M▲
Taxes670/3€1.45M€3.07M▲
Tax adjustments and reversals of tax provisions77€21k-
Profit (loss) for the period9904€7.80M€9.06M▲
Profit (loss) for the period to be appropriated9905€7.80M€9.06M▲
Appropriation of the result
Profit (loss) to be appropriated9906€141.49M€145.55M▲
Profit (loss) brought forward from the previous period14P€133.69M€136.49M▲
Profit to be distributed694/7€5.00M€0▼
Return on contributions (dividend)694€5.00M€0▼
Social balance
Average headcount (FTE)908736.939.2▲
The notes to these accounts (50 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €9.06M ▲16.2%
Net result €9.06M, the highest in the series.
13-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Back to profitnet €7.80M
Net result €7.80M after one loss-making year.
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Weakest financial yearnet €-4.49M ▼682%
Net result drops to €-4.49M, the lowest in the series; recovery starts the following year.
16-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
13-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
17-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Back to profitnet €1.16M
Net result €1.16M after one loss-making year.
12-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
03-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
20-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
25 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, Dendermonde · 2 establishment units since 1998
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.
Oude baan (OUD) 1209200 DendermondeGround area
8.5 ha
Building footprint
1.8 ha
Volume, LiDAR
262,875 m³
2 parcels, Flanders · tallest building 35.6 m, ±4 floors. Linked by address, not a title deed.
2 establishment units
Oude baan (OUD) 120, 9200 Dendermonde
since 19982.089.421.570
VPK SERVICES
since 20152.261.234.405
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42016B0865/00K003 | Flanders | 8.0 ha | 1 · 1.8 ha | 35.6 m · 4 fl. |
| 41002B0061/00D003 | Flanders | 4,491 m² | 1 · 835 m² | 5.3 m |
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.
Structure & network
Ownership & control
1 parent companyControl over this companyparent company per the LEI register1
Dendermonde
controls
VPK SERVICESBE 0464.538.245
Public money · subsidies and aid
Flemish government
2023 to 2024 · 2 entries · 5,163 EUR awarded · 5,163 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 1,704 EUR | 1,704 EUR |
| 2023 | 1 | 3,459 EUR | 3,459 EUR |
Schemes
Vlaams opleidingsverlof (VOV)
Recognitions · licences · registrations
Legal Entity Identifier
549300J5X4E65PJHE355
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Of 5,699 companies in sector 70100 we hold annual accounts for 3,494. 261 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
Founded06-11-1998
Fiscal year end31-12
Activities, NACEBEL 2025
70100Activities of head offices
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 26 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.