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V.B. LOGISTICS

Active
Public limited companyfounded 198738 yrs activeEuropalaan 31, 3900 Pelt, BelgiumKBO/BCE: BE 0433.222.388
Summary

V.B. LOGISTICS has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.2m and a net result of €1.1m. Equity is growing by ~3.3% per year across the filed fiscal years. Its solvency ranks better than 11% of 763 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.4% (low).

Risk analysisWatch ReportCompare
V.B. LOGISTICSActiveChecked score 63/100
Risk analysis ReportCompare

Overview

Activity
Coating of metals
NACE 25510Manufacture of fabricated metal products, except machinery and equipment NACE 25610NACE 28510
1 site
Size
€2.1mturnover 2024
Equity
€1.2m
Profit
€1.1m
Financial health
63 Healthy Checked score 2024
Bankruptcy chance 12 m
1.4%
Structure
Parent
BALAK INDUSTRIES · 100%
Accounts 65 d overdue0 of 17 deeds read
Why 63- Figures for FY 2024 (filed 10-07-2025)- Liquidity: current ratio 0.45, cash €65,889, halved- Equity €1.2m (9.6% of total assets)+ Size: turnover €2.1m, total assets €12.9mShow the evidence

Checked score

Score 2024
63 / 100
Healthy
Probability in this band: 0.55% to 1.5%
Better than 30% of its sector peers (NACE 25, medium-sized)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2023
Average
Solvency 35-48
equity 9.6% of total assets
Liquidity 19-50
short-term debt 61.4% · cash 0.5%
Profitability 86-2
return on assets 8.5%
Bankruptcy probability, 12 months
1.4% Low
0%0.5%1.5%4%10%≥ 25%

About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (133 companies)
Last 24 months 11-2024: < 0.1% 12-2024: < 0.1%● 0.0% vs 11-2024 01-2025: < 0.1%● 0.0% vs 12-2024 02-2025: < 0.1%▼ -2.7% vs 01-2025lowest value 03-2025: < 0.1%▲ +2.8% vs 02-2025 04-2025: < 0.1%▲ +2.7% vs 03-2025 05-2025: < 0.1%▲ +2.6% vs 04-2025 06-2025: < 0.1%▼ -2.6% vs 05-2025 07-2025: < 0.1%▲ +15.8% vs 06-2025 08-2025: 0.3%▲ +566% vs 07-2025 09-2025: 0.3%● 0.0% vs 08-2025 10-2025: 0.3%● 0.0% vs 09-2025 11-2025: 0.3%● 0.0% vs 10-2025 12-2025: 0.3%● 0.0% vs 11-2025 01-2026: 0.3%● 0.0% vs 12-2025 02-2026: 0.3%▼ -2.0% vs 01-2026 03-2026: 0.3%▲ +1.4% vs 02-2026 04-2026: 0.3%▲ +5.5% vs 03-2026 05-2026: 0.3%▲ +2.0% vs 04-2026 06-2026: 0.3%▲ +2.6% vs 05-2026 07-2026: 0.4%▲ +13.7% vs 06-2026 08-2026: 0.8%▲ +110% vs 07-2026 09-2026: 1.0%▲ +25.5% vs 08-2026 10-2026: 1.4%▲ +49.0% vs 09-2026highest value
  • Figures for FY 2024 (filed 10-07-2025) raises the probability
  • Liquidity: current ratio 0.45, cash €65,889, halved raises the probability
  • Size: turnover €2.1m, total assets €12.9m lowers the probability for this profile
  • Equity €1.2m (9.6% of total assets) raises the probability
Credit up to €75,000 at 30 days acceptable
Liquidity short (current ratio 0.45 against 2.57 in 2023; short-term debt: 61.4% and cash: 0.5% of total assets), and 90.4% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 25, medium-sized). Better than this share of them on solvency 11%, liquidity 11%, profitability 87%, growth against the median 11%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Figures for FY 2024 (filed 10-07-2025)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Liquidity: current ratio 0.45, cash €65,889, halved
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
lowers risk · Size: turnover €2.1m, total assets €12.9m
In the bankruptcy model this factor lowers the probability for this profile.
NBB · annual accounts
raises risk · Equity €1.2m (9.6% of total assets)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 11% of 763 sector peers (2024).
NBB · sector comparison
Position among 763 sector peers
Solvency
better than 11%
← weakest strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 10-07-2025, 21 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
not confirmed
2024
21 d early
2023
18 d early
2022
27 d early
2021
31 d early
2020
5 d early
2019
14 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 6 accounts on average 19 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.

Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2024 · full…
  2. Annual accounts filedfiscal year 2023 · full…
  3. Highest result since 2018net €1.2m ▲56.4%

Key points

  • Caution: Equity fell in 2024from €6.9m to €1.2m ▼ 82.2% View
  • Caution: Among the weakest 12% on solvencysector median 42.7% · 763 companies 9.6% View
  • Caution: Accounts not fileddeadline was 31-07-2026 65 d late View
  • Controlled by BALAK INDUSTRIESultimately: HERCULES INVEST 100% View
  • Positive: 7 profitable years in a rowprofit 2024: €1.1m 7 years View

By topic

Financials

Fiscal year
2024
Turnover
€2.1m
Profit
€1.1m
Solvency
9.6%
Turnover▼ 12.3%
Net result
20222024
Go to Financials

Timeline

Events
13
Since
2016
  1. 10-07-2025Annual accounts filed
  2. 13-07-2024Annual accounts filed
  3. 31-12-2023Highest result since 2018
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Coating of metalsNACE 25510
Founded
24-12-1987
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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