Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 47 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 1.7 to 1.4.
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Busy address KBO
22 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
VINCERE from Roeselare, company number BE0440906174, closed financial year 2025 with a result of € 240,289 after tax. For that financial year VINCERE recorded a gross margin of € 924,094 and equity of € 6.7 million. Compared with financial year 2024, the result moved from € -18,906 to € 240,289. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on November 20, 2025.
€ 6.7 million
▲ 4% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 240,289
▲ still € 18,906 loss in 2024
Profit after tax over the fiscal year.
€ 166,459
▼ 3% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 5.1 million.
People and assets in 2025
1.4
▼ 0.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 61,259
▼ 28% vs 2024
€ 43,800 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.
€ 147,812
▲ 34% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 3.5 million
▼ 9% vs 2024
€ 397,890 is repaid this year. At this pace the long-term loan is gone in ≈ 9 years.
€ 50,219
▼ 32% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 209,434
▲ 274% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 1,333,143 | € 961,795 | € 699,465 | € 924,094 | ▲ 32% |
| Profit after taxes | € 2,676,607 | € 164,298 | € -18,906 | € 240,289 | ▲ € 259,195 |
| Equity | € 6,301,274 | € 6,465,573 | € 6,446,667 | € 6,686,956 | ▲ 4% |
| Total debts | € 5,902,607 | € 5,627,373 | € 6,299,268 | € 5,565,178 | ▼ 12% |
| Cash | € 387,128 | € 64,177 | € 171,505 | € 166,459 | ▼ 3% |
| Land & buildings | € 9,052,018 | € 9,719,498 | € 9,868,592 | € 9,519,884 | ▼ 4% |
| Retained profit | € 4,747,430 | € 4,911,728 | € 4,892,822 | € 5,133,112 | ▲ 5% |
| Bank debt | € 4,674,756 | € 4,455,232 | € 3,822,571 | € 3,474,390 | ▼ 9% |
| Balance sheet total | € 12,680,017 | € 12,406,842 | € 13,046,372 | € 12,504,025 | ▼ 4% |
| Employees (FTE) | 2.1 | 1.7 | 1.5 | 1.4 | ▼ 0.1 |
Key figures of VINCERE, 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 November 2026.
What happened to VINCERE?
What happened at VINCERE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Vincent Titeca stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 240,289. Source: NBB ↗
- New establishment in Ledegem. KBO
- Vincent Titeca became a director. NBB
- New establishment in Roeselare. KBO
- Start of the company according to the CBE. KBO
In short
From € 2.7 million profit in 2022 to € 240,289 profit in 2025.
Paid € 604,998 in corporate taxes since 2022.
Best year ever: 2022, with € 2.7 million profit.
On average € 660,100 of value added per employee in 2025.
Management
It owns 50% of Imfiro, 50% of Landico, 33.3% of Zilverberg Holding, 33.2% of Groep T, 25% of Baluvika and 12.5% of Himco itself.
Directors
According to the 2025 annual accounts
Vincent Titeca
Director
Also active at: Zilverberg Holding, Project Meiboom, BALUVIKA, V & T BOUW, IMFIRO
since 2020 · until 2026
Establishments
Establishment units
Physical locations of this company
Westlaan 466
8800 Roeselare
Sint-Jansstraat 36
8880 Ledegem
Active since 14 June 2022
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 22 companies are registered at this address.
All companies at this address →EASY-CAR-RENT
€ 219,342 gross margin · 2025
HIMCO same network
€ -4,713 gross margin · 2026
DE POTENTE
€ -6,876 gross margin · 2025
MAILLARD'S LINDE
€ -4,923 gross margin · 2025
COSTASOL INVEST
€ 28,845 gross margin · 2025
+17 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0440.906.174
- VAT number
- BE 0440.906.174
- Registered office
- Westlaan 466, 8800 Roeselare
- Names & denominations
- VINCERE
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 29 June 1990
- Peppol
- Active · Active since 21 Oct 2026
- Activities · NACE
Ontwikkeling van residentiële bouwprojecten
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
Overige adviesbureaus op het gebied van bedrijfsvoering en beheer
Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering
Administratieve en ondersteunende activiteiten ten behoeve van kantoren
Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen
Organisatie van congressen en beurzen
Overige detailhandel in nieuwe artikelen neg
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