Immo VSM C
ActiveImmo VSM C has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €711k and a net result of €-147k. Equity is shrinking by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 56% of 1854 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2024
40
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability12▼-54
Solvency52▼-15
Growth32=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days only on tighter terms
Liquidity short (current ratio 0.01 against 0.02 in 2023; short-term debt: 73.1% and cash: 0.2% of total assets), and 73.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
26.9%
Return on assets
-5.6%
Age of the figures
21 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 55
Relative position
BE, all sectors
reference
Sector 55
higher
← 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
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year €-147k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 27-09-2025, 58 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
58 d late
2023
61 d late
2022
30 d late
2021
136 d late
2020
152 d late
2019
92 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€711k▼ 17.1%
2023 · €858k
2018: €1.02M
2019: €1.02M
2020: €992k
2021: €946k
2022: €895k
2023: €858k
2018 → 2024
Total assets
€2.64M▲ 29.6%
2023 · €2.04M
2018: €1.05M
2019: €1.02M
2020: €1.74M
2021: €2.06M
2022: €2.14M
2023: €2.04M
2018 → 2024
Net result
€-147k▼ 293%
2023 · €-37k
2018: €1k
2019: €-3k
2020: €-29k
2021: €-46k
2022: €-51k
2023: €-37k
2018 → 2024
Working capital
€-1.90M▼ 64.6%
2023 · €-1.16M
2018: €5k
2020: €-737k
2021: €-1.07M
2022: €-1.16M
2023: €-1.16M
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€992k-€946k▼ 4.6%€895k▼ 5.4%€858k▼ 4.2%€711k▼ 17.1%
Operating result€-29k-€-46k▼ 59.3%€-51k▼ 11.6%€-37k▲ 27.0%€-139k▼ 272%
Net result€-29k-€-46k▼ 59.2%€-51k▼ 11.6%€-37k▲ 26.9%€-147k▼ 293%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €139k in 2024 against €37k in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.64M
Fixed assets
€2.61M▲ 29.8%
Current assets
€26k▲ 11.6%
Equity and liabilities €2.64M
Equity
€711k▼ 17.1%
Debt
€1.93M▲ 63.6%
The debt ratio rises from 57.9% to 73.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-9k▼
2023 · €6k
Cash flow
€-17k▼
2023 · €6k
Solvency
26.9%▼
2023 · 42.1%
Current ratio
0.01▼
2023 · 0.02
Quick ratio
0.01▼
2023 · 0.02
Debt / equity
2.71▲
2023 · 1.37
ROE
-20.7%▼
2023 · -4.4%
ROA
-5.6%▼
2023 · -1.8%
Interest coverage
-1.12▼
2023 · 81.02
Debt
€1.93M▲
2023 · €1.18M
Debt ≤ 1 year
€1.93M▲
2023 · €1.18M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€2.04M€2.64M▲
Fixed assets21/28€2.01M€2.61M▲
Intangible fixed assets21€8k€8k▼
Tangible fixed assets22/27€2.00M€2.60M▲
Land and buildings22€1.66M€2.28M▲
Furniture and vehicles24€6k€11k▲
Other tangible fixed assets26€334k€313k▼
Current assets29/58€23k€26k▲
Amounts receivable within one year40/41€5k€21k▲
Trade receivables40-€16k
Other amounts receivable41€5k€5k▼
Cash at bank and in hand54/58€18k€4k▼
Equity and liabilities
Total equity and liabilities10/49€2.04M€2.64M▲
Equity10/15€858k€711k▼
Contributions10/11€1.02M€1.02M=
Capital10€1.02M€1.02M=
Issued capital100€1.02M€1.02M=
Reserves13€211€211=
Non-distributable reserves130/1€211€211=
Legal reserve130€211€211=
Profit (loss) carried forward14€-162k€-309k▼
Amounts payable17/49€1.18M€1.93M▲
Amounts payable within one year42/48€1.18M€1.93M▲
Trade debts44€4k€14k▲
Suppliers440/4€4k€14k▲
Other amounts payable47/48€1.17M€1.91M▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€44k€129k▲
Other operating charges640/8€4k€5k▲
Gross operating margin9900€10k€-5k▼
Operating profit (loss)9901€-37k€-139k▼
Financial charges65/66B€78€8k▲
Recurring financial charges65€78€8k▲
Profit (loss) for the period before taxes9903€-37k€-147k▼
Profit (loss) for the period9904€-37k€-147k▼
Profit (loss) for the period to be appropriated9905€-37k€-147k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-162k€-309k▼
Profit (loss) brought forward from the previous period14P€-125k€-162k▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
27-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 58 days late
2024
31-12
Financial
Weakest financial yearnet €-147k
Net result drops to €-147k, the lowest in the series.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
14-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 136 days late
2021
30-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 152 days late
2020
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 92 days late
2019
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
12-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
27-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
22-07
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
no sitting director, no change since 2020
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
22-06-2020
Resigned as Director
Location & real-estate footprint
Registered office, Brussel · 1 establishment unit since 2015
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.
Marnixlaan 19a1000 BrusselGround area
437 m²
Building footprint
415 m²
Volume, LiDAR
14,382 m³
Parcel 21805E0539/00F000, Brussels · tallest building 44.7 m, ±11 floors. Linked by address, not a title deed.
1 establishment unit
Marnixlaan 19a, 1000 Brussel
since 20152.252.005.052
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21805E0539/00F000 | Brussels | 437 m² | 1 · 415 m² | 44.7 m · 11 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
CIEMAT
BE 0438.507.504
Haacht · Eq €711k
ANICIE
BE 1002.772.538
Deinze · Eq €717k
OSWALD 180
BE 0880.507.701
Sint-Niklaas · Eq €698k
BRIESLAND
BE 0807.037.525
Alveringem · Eq €725k
Immo LiLo
BE 1002.224.982
Westerlo · Eq €697k
Of 3,000 companies in sector 55203 we hold annual accounts for 690. 387 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded28-01-2015
Fiscal year end31-12
Activities, NACEBEL
55203Holiday cottages, homes and apartments
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.