Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 3 of the last 4 fiscal years.
-
Tight liquidity NBB
Cash and receivables cover 3 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
VABRA from Middelkerke, company number BE0438177308, closed financial year 2025 with a result of € -155,040 after tax. For that financial year VABRA recorded a gross margin of € -11,683 and equity of € -77,680. Compared with financial year 2024, the result moved from € 119,832 to € -155,040. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 10, 2026.
€ -77,680
▼ € 155,040 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -155,040
▼ still € 119,832 profit in 2024
Profit after tax over the fiscal year.
€ 21,616
▼ 81% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.1 million.
People and assets in 2025
€ 6,115
▲ 6% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 330,680
▼ 28% vs 2024
€ 82,214 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 28,307
▼ 1% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 378
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 198,937 | € 31,313 | € 276,514 | € -11,683 | ▼ € 288,197 |
| Profit after taxes | € -203,687 | € -16,912 | € 119,832 | € -155,040 | ▼ € 274,871 |
| Equity | € -25,559 | € -42,471 | € 77,360 | € -77,680 | ▼ € 155,040 |
| Total debts | € 4,592,172 | € 5,218,030 | € 4,763,923 | € 4,792,866 | ▲ 1% |
| Cash | € 1,623 | - | € 112,507 | € 21,616 | ▼ 81% |
| Land & buildings | € 3,627,678 | € 3,980,731 | € 4,138,552 | € 4,093,208 | ▼ 1% |
| Retained profit | € -1,097,399 | € -1,114,312 | € -994,480 | € -1,149,520 | ▼ € 155,040 |
| Bank debt | € 668,896 | € 820,743 | € 457,622 | € 330,680 | ▼ 28% |
| Balance sheet total | € 4,566,613 | € 5,175,559 | € 4,841,284 | € 4,715,186 | ▼ 3% |
Key figures of VABRA, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 July 2027.
What happened to VABRA?
What happened at VABRA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 155,040 (▼ € 274,871 vs 2024). Source: NBB ↗
- Heidi Desmet became a director. NBB
- Brauwers Stefaan became a director. NBB
- New establishment in Middelkerke. KBO
- Start of the company according to the CBE. KBO
In short
From € 203,687 loss in 2022 to € 155,040 loss in 2025.
Paid € 2,085 in corporate taxes since 2022.
Best year ever: 2024, with € 119,832 profit.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of MARVA PARKEN, BRAUWERS comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
VABRABehind VABRA are Heidi Desmet and Brauwers Stefaan. The shares are held by MARVA PARKEN (100%) and BRAUWERS.
Directors
According to the 2025 annual accounts
since 2023
Brauwers Stefaan
Managing director
since 2023
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Steenovenstraat 4
8431 Middelkerke
Zeedijk 201
8430 Middelkerke
Active since 8 September 1989
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0438.177.308
- VAT number
- BE 0438.177.308
- Registered office
- Steenovenstraat 4, 8431 Middelkerke
- Names & denominations
- VABRA
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 22 August 1989
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
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