Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 61 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 87.9 to 59.4.
Financials
Financial year 2025
Vesuvius Belgium from Oostende, company number BE0413723212, closed financial year 2025 with a result of € -4.5 million after tax. For that financial year Vesuvius Belgium recorded revenue of € 4.5 million and equity of € 3.5 million. Compared with financial year 2024, the result moved from € -1.5 million to € -4.5 million. The company made a loss. The buffer shrank hard: equity is 56 % below last year. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 23, 2026.
€ 3.5 million
▼ 56% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -4.5 million
▼ 199 % more loss than in 2024
Profit after tax over the fiscal year.
€ 2.1 million
▲ 106% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 463,547.
People and assets in 2025
59.4
▼ 19.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 6.6 million
▲ 20% vs 2024
€ 110,700 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 89,538
▼ 17% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 2.2 million
Loans from banks and other lenders, long and short.
€ 1.2 million
▼ 9% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 59 days on average.
€ 1.3 million
▲ 99% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 30,854,785 | € 22,255,786 | € 10,335,666 | € 4,511,094 | ▼ 56% |
| Profit after taxes | € 1,254,880 | € 325,480 | € -1,489,784 | € -4,457,795 | ▼ € 3 million |
| Equity | € 9,158,498 | € 9,473,133 | € 7,972,504 | € 3,503,863 | ▼ 56% |
| Total debts | € 11,388,590 | € 3,855,820 | € 1,905,237 | € 4,643,920 | ▲ 144% |
| Cash | € 11,490,080 | € 4,562,683 | € 1,014,861 | € 2,092,291 | ▲ 106% |
| Land & buildings | € 2,583,653 | € 2,556,849 | € 3,021,259 | € 2,732,363 | ▼ 10% |
| Retained profit | € 6,085,646 | € 6,411,126 | € 4,921,342 | € 463,547 | ▼ 91% |
| Bank debt | € 0 | € 0 | € 0 | € 2,200,000 | |
| Balance sheet total | € 20,550,456 | € 13,328,953 | € 9,990,336 | € 8,153,427 | ▼ 18% |
| Employees (FTE) | 92.5 | 87.9 | 78.6 | 59.4 | ▼ 19.2 |
Key figures of Vesuvius Belgium, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Vesuvius Belgium?
What happened at Vesuvius Belgium in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Mario Ravanelli stepped down as director. NBB
- Fabricio Camponez Salazar stepped down as director. NBB
- Elisabetta De Zan stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 4.5 million. Source: NBB ↗
- Bart Louwagie stepped down as director. NBB
- Mario Ravanelli became a director. NBB
- Fabricio Camponez Salazar became a director. NBB
- Elisabetta De Zan became a director. NBB
In short
From € 1.3 million profit in 2022 to € 4.5 million loss in 2025.
Paid € 658,574 in corporate taxes since 2022.
Best year ever: 2022, with € 1.3 million profit.
Pays suppliers within 59 days on average.
Management
Directors
According to the 2025 annual accounts
since 2017 · until 2025
Mario Ravanelli
Director
since 2025 · until 2030
Elisabetta De Zan
Director
since 2023 · until 2029
Fabricio Camponez Salazar
Managing director
since 2024 · until 2030
Establishments
Establishment units
Physical locations of this company
Zandvoordestraat 366
8400 Oostende
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0413.723.212
- VAT number
- BE 0413.723.212
- Registered office
- Zandvoordestraat 366, 8400 Oostende
- Names & denominations
- Vesuvius Belgium
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 10 October 1973
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
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