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V & B

Active
Private limited companyfounded 2001active for 25 yearsBietenweg 10, 3300 Tienen, BelgiumKBO/BCE: BE 0474.560.028

Financials · financial year 2025, micro format

2025 annual accounts filed 28 days after the deadline Filed on 28 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00494225.

Annual accounts 2025 filed on 28-08-2026 at the NBB all 24 filings

Turnover
≈ €460,000
Estimated: probably between €310,000 and €710,000
Total assets
€391,141▲ 13.2%
2024 · €345,509
Net result
€36,392▼ 14.1%
2024 · €42,348
Working capital
€147,305▲ 33.0%
2024 · €110,788
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result for 2025 is 25% lower than in 2024.

Operating result€48,220 2025 Net result€36,392 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Rental and leasing activities (NACE 77). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Operating result€16,014--€19,028€13,510€7,692▼ 43.1%€29,576▲ 284%€27,288▼ 7.7%€64,617▲ 137%€48,220▼ 25.4%
Net result€2,123--€29,908€3,486within the sector's middle half€124within the sector's middle half▼ 96.4%€24,565within the sector's middle half▲ 198×€15,667within the sector's middle half▼ 36.2%€42,348above the sector's middle half▲ 170%€36,392above the sector's middle half▼ 14.1%
Equity€25,025--€4,883-€1,397below the sector's middle half▲ 71.4%-€1,273below the sector's middle half▲ 8.9%€23,291within the sector's middle half€38,958within the sector's middle half▲ 67.3%€81,307within the sector's middle half▲ 109%€117,699within the sector's middle half▲ 44.8%
Total assets€340,124-€293,495▼ 13.7%€286,990within the sector's middle half▼ 2.2%€277,065within the sector's middle half▼ 3.5%€307,588within the sector's middle half▲ 11.0%€303,640within the sector's middle half▼ 1.3%€345,509within the sector's middle half▲ 13.8%€391,141within the sector's middle half▲ 13.2%
Debt€315,099-€298,378▼ 5.3%€288,387▼ 3.3%€278,338▼ 3.5%€284,297▲ 2.1%€264,682▼ 6.9%€264,202▼ 0.2%€273,443▲ 3.5%
Working capital€57,682-€32,662▼ 43.4%€49,617above the sector's middle half▲ 51.9%€62,140above the sector's middle half▲ 25.2%€95,073above the sector's middle half▲ 53.0%€79,573above the sector's middle half▼ 16.3%€110,788above the sector's middle half▲ 39.2%€147,305above the sector's middle half▲ 33.0%
Solvency7.4%--1.7%▼ 9.0pp-0.5%below the sector's middle half▲ 1.2pp-0.5%below the sector's middle half=7.6%within the sector's middle half▲ 8.0pp12.8%within the sector's middle half▲ 5.3pp23.5%within the sector's middle half▲ 10.7pp30.1%within the sector's middle half▲ 6.6pp
Current ratio1.93-1.55▼ 0.381.93within the sector's middle half▲ 0.382.28above the sector's middle half▲ 0.352.52above the sector's middle half▲ 0.241.91within the sector's middle half▼ 0.622.06within the sector's middle half▲ 0.162.17within the sector's middle half▲ 0.10
Return on assets (ROA)0.6%--10.2%▼ 10.8pp1.2%within the sector's middle half▲ 11.4pp0.0%within the sector's middle half▼ 1.2pp8.0%within the sector's middle half▲ 7.9pp5.2%within the sector's middle half▼ 2.8pp12.3%above the sector's middle half▲ 7.1pp9.3%within the sector's middle half▼ 3.0pp
Staff (FTE)3-2.7▼ 10.0%2.1within the sector's middle half▼ 22.2%1.8▼ 14.3%1.1▼ 38.9%1.4▲ 27.3%2▲ 42.9%2=
above within below The sector band is the middle half of the companies in Rental and leasing activities (NACE 77). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €391,141
Fixed assets €117,659 ▼ 9.9%
Current assets €273,483 ▲ 27.2%
Equity and liabilities €391,141
Equity €117,699 ▲ 44.8%
Debt €273,443 ▲ 3.5%
Debt's share of the balance-sheet total falls from 76.5% to 69.9%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€69,905▼
2024 · €83,969
Cash flow
€58,076▼
2024 · €61,700
Quick ratio
2.13▲
2024 · 2.00
Debt to equity
2.32▼
2024 · 3.25
ROE
30.9%▼
2024 · 52.1%
Interest coverage
9.24▼
2024 · 9.43
Debt ≤ 1 year
€126,178▲
2024 · €104,145
Debt > 1 year
€141,264▼
2024 · €159,414
Income taxes
€14,205▼
2024 · €17,758
Staff costs
€108,186▲
2024 · €100,839
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet
Item31-12-202131-12-202231-12-202331-12-202431-12-2025
Employees at the balance-sheet date11222
full-time11222
part-time00-00
in full-time equivalents11222
Average over the year, in full-time equivalents1.81.11.422
On a permanent contract11222
Joined221--
Left320--
Training hours00---

Source: social balance sheet in the 2021 to 2025 annual accounts

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€4,724€2,175€5,442€13,748€8,767
Depreciation and write-downs of the year€17,986€17,934€19,280€19,352€21,684

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Subsidies and aid

Flemish government

2025 · 1 entry · €102 awarded · €102 paid
Schemes
1 entry · €102 · €102 paid · Fonds voor Innoveren en Ondernemen

Comparable companies

These companies have the same main activity as V & B: rental and leasing activities (NACE 77310). They are comparable in size and age: total assets between €299,000 and €603,000, founded between 1995 and 2007.

CompanyFoundedTotal assetsEquityGross marginNet resultFinancial year
V & B Tienen2001€391,141€117,699€183,338€36,3922025
MARkvallei Pajottegem2006€554,962€161,925€143,795-€1,3582025
KRIST-RENTING Dentergem2000€299,173€70,303€107,317€5,8352025
SERICO Binche1999€603,444€6,598€110,419€31,1402025
DVS SERVICE Ardooie1995€472,322€156,676€102,936€27,3312025
Ets PEETERS & Cie Soignies2007€333,376€310,495€103,305€44,1132026
DPA Courcelles2007€399,570€225,819€94,886€39,4042025

They were chosen from the 125 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Companies with the same profile, two years later

Historical observation

In July 2024, 31,368 companies had the same profile as V & B has now. Two years later, 0.5% had gone bankrupt and 93.5% were still going.

  • Micro
  • 20 years or older
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more
0.5% went bankrupt
5.9% stopped otherwise
93.5% was still going

Another 0.1% stopped without a precise date, possibly only after those two years.

That fits the bankruptcy probability of V & B itself: 0.6% within 12 months.

Test of the method

The method was tested on the 497,445 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 0.9%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 31,368 companies, not a prediction for V & B. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 47 lines

Source: Annual accounts 2025 at the NBB, filed on 28-08-2026.

Balance sheet Code20242025
Assets
Total assets20/58€345,509€391,141▲
Fixed assets21/28€130,576€117,659▼
Tangible fixed assets22/27€130,441€117,524▼
Land and buildings22€124,370€111,254▼
Plant, machinery and equipment23€6,071€6,270▲
Financial fixed assets28€135€135=
Current assets29/58€214,933€273,483▲
Amounts receivable after more than one year29€34,285€13,826▼
Other amounts receivable291€34,285€13,826▼
Stocks and contracts in progress3€6,898€4,127▼
Stocks30/36€6,898€4,127▼
Amounts receivable within one year40/41€151,029€216,812▲
Trade receivables40€8,762€16,673▲
Other amounts receivable41€142,267€200,139▲
Cash at bank and in hand54/58€16,914€29,578▲
Deferred charges and accrued income490/1€5,806€9,140▲
Equity and liabilities
Total equity and liabilities10/49€345,509€391,141▲
Equity10/15€81,307€117,699▲
Contributions10/11€18,600€18,600=
Profit (loss) carried forward14€62,707€99,099▲
Amounts payable17/49€264,202€273,443▲
Amounts payable after more than one year17€159,414€141,264▼
Financial debts170/4€159,414€141,264▼
Amounts payable within one year42/48€104,145€126,178▲
Current portion of amounts payable after more than one year42€17,381€18,150▲
Trade debts44€36,263€34,037▼
Suppliers440/4€36,263€34,037▼
Taxes, remuneration and social security45€50,501€73,991▲
Taxes450/3€29,435€57,981▲
Remuneration and social security454/9€21,066€16,010▼
Accrued charges and deferred income492/3€644€6,001▲
Income statement Code20242025
Remuneration, social security and pensions62€100,839€108,186▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€19,352€21,684▲
Other operating charges640/8€5,083€5,247▲
Gross operating margin9900€189,891€183,338▼
Operating profit (loss)9901€64,617€48,220▼
Financial income75/76B€6,657€9,939▲
Recurring financial income75€6,657€9,939▲
Financial charges65/66B€11,167€7,562▼
Recurring financial charges65€8,907€7,562▼
Non-recurring financial charges66B€2,260-
Profit (loss) for the period before taxes9903€60,107€50,597▼
Income taxes67/77€17,758€14,205▼
Profit (loss) for the period9904€42,348€36,392▼
Profit (loss) for the period to be appropriated9905€42,348€36,392▼
Appropriation of the result
Profit (loss) to be appropriated9906€62,707€99,099▲
Profit (loss) brought forward from the previous period14P€20,358€62,707▲

The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Line20182019202020212022202320242025Change
Remuneration, social security and pensions62---€86,486€48,824€71,670€100,839€108,186▲ 7.3%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€20,815€19,022€18,446€17,986€17,934€19,280€19,352€21,684▲ 12.1%
Other operating charges640/8---€4,131€5,083€9,027€5,083€5,247▲ 3.2%
Non-recurring operating charges66A----€187----
Gross operating margin9900€176,810€143,121€137,982€116,294€101,604€127,264€189,891€183,338▼ 3.5%
Operating profit (loss)9901€16,014-€19,028€13,510€7,692€29,576€27,288€64,617€48,220▼ 25.4%
Financial income75/76B---€3,289€7,916€5,440€6,657€9,939▲ 49.3%
Recurring financial income75€396€1,021€1,081€1,618€2,321€5,440€6,657€9,939▲ 49.3%
Non-recurring financial income76B---€1,671€5,596----
Financial charges65/66B---€10,857€10,025€11,559€11,167€7,562▼ 32.3%
Recurring financial charges65€12,488€11,860€11,105€10,857€10,025€11,064€8,907€7,562▼ 15.1%
Non-recurring financial charges66B-----€495€2,260--
Profit (loss) for the period before taxes9903€3,813-€29,867€3,486€124€27,467€21,168€60,107€50,597▼ 15.8%
Income taxes67/77€1,691€42--€2,903€5,501€17,758€14,205▼ 20.0%
Profit (loss) for the period9904€2,123-€29,908€3,486€124€24,565€15,667€42,348€36,392▼ 14.1%
Profit (loss) for the period to be appropriated9905€2,123-€29,908€3,486€124€24,565€15,667€42,348€36,392▼ 14.1%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€340,124€293,495€286,990€277,065€307,588€303,640€345,509€391,141▲ 13.2%
Fixed assets21/28€220,602€201,715€183,980€166,423€150,017€136,179€130,576€117,659▼ 9.9%
Tangible fixed assets22/27€220,602€201,580€183,845€166,288€149,882€136,044€130,441€117,524▼ 9.9%
Land and buildings22---€163,982€146,475€128,968€124,370€111,254▼ 10.5%
Plant, machinery and equipment23---€2,305€3,366€7,076€6,071€6,270▲ 3.3%
Furniture and vehicles24----€40----
Financial fixed assets28-€135€135€135€135€135€135€135=
Current assets29/58€119,522€91,780€103,010€110,642€157,571€167,461€214,933€273,483▲ 27.2%
Amounts receivable after more than one year29---€55,955€85,476€65,777€34,285€13,826▼ 59.7%
Other amounts receivable291---€55,955€85,476€65,777€34,285€13,826▼ 59.7%
Stocks and contracts in progress3€26,255€23,177€19,492€16,878€8,143€4,561€6,898€4,127▼ 40.2%
Stocks30/36---€16,878€8,143€4,561€6,898€4,127▼ 40.2%
Amounts receivable within one year40/41€54,920€39,948€60,754€27,345€44,534€91,239€151,029€216,812▲ 43.6%
Trade receivables40---€15,265€15,634€14,661€8,762€16,673▲ 90.3%
Other amounts receivable41---€12,079€28,900€76,577€142,267€200,139▲ 40.7%
Cash at bank and in hand54/58€38,347€25,113€18,298€7,828€15,538€2,232€16,914€29,578▲ 74.9%
Deferred charges and accrued income490/1---€2,638€3,881€3,652€5,806€9,140▲ 57.4%
Equity and liabilities
Total equity and liabilities10/49€340,124€293,495€286,990€277,065€307,588€303,640€345,509€391,141▲ 13.2%
Equity10/15€25,025-€4,883-€1,397-€1,273€23,291€38,958€81,307€117,699▲ 44.8%
Contributions10/11€18,600€18,600-€18,600€18,600€18,600€18,600€18,600=
Reserves13€1,617--------
Profit (loss) carried forward14€4,809-€23,483-€19,997-€19,873€4,691€20,358€62,707€99,099▲ 58.0%
Amounts payable17/49€315,099€298,378€288,387€278,338€284,297€264,682€264,202€273,443▲ 3.5%
Amounts payable after more than one year17€253,258€239,260€234,994€229,836€221,798€176,794€159,414€141,264▼ 11.4%
Financial debts170/4---€209,378€193,439€176,794€159,414€141,264▼ 11.4%
Other amounts payable178/9---€20,458€28,360----
Amounts payable within one year42/48€61,841€59,119€53,393€48,502€62,498€87,887€104,145€126,178▲ 21.2%
Current portion of amounts payable after more than one year42---€15,264€14,637€15,285€17,381€18,150▲ 4.4%
Trade debts44€17,948€16,625€13,042€9,223€24,054€43,067€36,263€34,037▼ 6.1%
Suppliers440/4---€9,223€24,054€43,067€36,263€34,037▼ 6.1%
Taxes, remuneration and social security45---€24,015€23,807€29,536€50,501€73,991▲ 46.5%
Taxes450/3---€15,437€14,585€17,125€29,435€57,981▲ 97.0%
Remuneration and social security454/9---€8,578€9,222€12,411€21,066€16,010▼ 24.0%
Accrued charges and deferred income492/3------€644€6,001▲ 832%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€2,123-€29,908€3,486€124€24,565€15,667€42,348€36,392▼ 14.1%
+ Depreciation and write-downs630€20,815€19,022€18,446€17,986€17,934€19,280€19,352€21,684▲ 12.1%
Operating cash flow (approximation)€22,938-€10,887€21,932€18,110€42,498€34,947€61,700€58,076▼ 5.9%
Investment in fixed assets (approximation)--€135-€711-€429-€1,528-€5,442-€13,748-€8,767▲ 36.2%
Change in cash--€13,235-€6,814-€10,471€7,710-€13,306€14,682€12,664▼ 13.8%

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Latest 10 of 24 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 micro format 28-08-2026 2026-00494225 NBB
31-12-2024 micro format 28-08-2025 2025-00445932 PDF
31-12-2023 micro format 21-08-2024 2024-00364694 PDF
31-12-2022 micro format 29-08-2023 2023-00402607 PDF
31-12-2021 micro format 24-08-2022 2022-20324052 PDF
31-12-2020 micro format 25-06-2021 2021-24400414 PDF
31-12-2019 abbreviated format 16-09-2020 2020-53400384 PDF
31-12-2018 abbreviated format 30-08-2019 2019-60000202 PDF
31-12-2017 abbreviated format 31-08-2018 2018-61500380 PDF
31-12-2016 abbreviated format 31-08-2017 2017-58500586 PDF

Show all 24 filings

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