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V.B.M.

Active
Public limited companyfounded 1990active for 36 yearsReepstraat(SGW) 121, 9170 Sint-Gillis-Waas, BelgiumKBO/BCE: BE 0440.809.174
Summary

The computed 12-month bankruptcy probability of V.B.M. is 4.9% (elevated). The 2025 annual accounts show negative equity (-€376,063) and a net result of -€491,103. Equity has been shrinking by about 27% per year since 2019. Its solvency ranks better than 5% of 1,081 sector peers (NACE 49, financial year 2025). The company has been active since 1990 and the Belgian Official Gazette contains no insolvency or warning signals.

Overview

Official details

Source: KBO
Status
Active since 16-05-1990 Normal situation
Activity
Freight transport by road NACE 49410and 1 other
Establishment unit
2.050.600.883 9170 Sint-Gillis-Waas, since 10-12-1990
Financial year end
30 September
Peppol
Reachable since 21-10-2026

Board and ownership

Board
Shareholders

Financial position

35 Weak Checked score 2025
Bankruptcy probabilitywithin 12 months
4.9%
Annual accounts to 30-09-2025
Turnover
€1.4m
▼ 35.5%
Loss
€491,103
Equity
-€376,063
Total assets
€599,835
▼ 33.2%
Employees on 30-09-2025
21
▼ 22.2%
  • Negative equity on 30-09-2025
Filed on 16-03-2026, 45 days before the deadline
Score breakdownraises riskNegative equity -€376,063Loss of €491,103 (financial year 2025)Sector: Land transport and transport via pipelines (NACE 49)lowers riskLiquidity: current ratio 0.56, cash €97,484Show the evidence

Checked score

Score 2025
35 / 100
Weak
Probability in this band: 4.2% to 15.0%
Financially stronger than 15% of small companies in land transport (NACE 49)
Financial strength · tick: 2024
Weak
Solvency 0-38
equity -62.7% of total assets
Liquidity 47-10
short-term debt 46.6% · cash 16.3%
Profitability 0-77
return on assets -81.9%
Bankruptcy probability within 12 months
4.9% Elevated
0%0.5%1.5%4%10%≥ 25%

About 5 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.5% (1,178 companies, NACE 49, small)
Last 24 months 12-2024: 1.6% 01-2025: 1.6%● unchanged vs 12-2024 02-2025: 1.6%● unchanged vs 01-2025 03-2025: 1.5%▼ -0.1 percentage points vs 02-2025 04-2025: 0.5%▼ -1.0 percentage point vs 03-2025 05-2025: 0.5%● unchanged vs 04-2025 06-2025: 0.5%● unchanged vs 05-2025 07-2025: 0.5%● unchanged vs 06-2025 08-2025: 0.5%● unchanged vs 07-2025 09-2025: 0.5%● unchanged vs 08-2025 10-2025: 0.5%● unchanged vs 09-2025 11-2025: 0.5%● unchanged vs 10-2025 12-2025: 0.5%● unchanged vs 11-2025 01-2026: 0.5%● unchanged vs 12-2025 02-2026: 0.5%● unchanged vs 01-2026 03-2026: 0.5%● unchanged vs 02-2026lowest value 04-2026: 4.9%▲ +4.4 percentage points vs 03-2026highest value 05-2026: 4.9%● unchanged vs 04-2026highest value 06-2026: 4.9%● unchanged vs 05-2026highest value 07-2026: 4.9%● unchanged vs 06-2026highest value 08-2026: 4.9%● unchanged vs 07-2026highest value 09-2026: 4.9%● unchanged vs 08-2026highest value 10-2026: 4.9%● unchanged vs 09-2026highest value 11-2026: 4.9%● unchanged vs 10-2026highest value
No credit on open account
Liquidity is insufficient, with a current ratio of 0.56 (1.57 in 2024), below 1. Short-term debt is 46.6% and cash 16.3% of total assets. Equity is negative.
Calculation

The band follows from the bankruptcy probability. 10 more points roughly halve it.

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%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 49, small). It does better than 1% of them on solvency, 54% on liquidity, 2% on profitability and 4% on growth.

The bankruptcy probability was computed on 01-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

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The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Six signals.
lowers riskraises riskneutral
raises risk · Negative equity -€376,063
NBB · annual accounts
raises risk · Loss of €491,103 (financial year 2025)
NBB · annual accounts
raises risk · Sector: Land transport and transport via pipelines (NACE 49)
KBO
lowers risk · Liquidity: current ratio 0.56, cash €97,484
NBB · annual accounts
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025
Equity per financial year
19202122232425
2019 to 2025 · latest year -€376,063
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 16-03-2026, 45 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
45 days early
2024
48 days early
2023
50 days early
2022
46 days early
2021
53 days early
2020
32 days early
2019
1 day early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 39 days before the deadline. In the sector (NACE 49), the median for financial year 2024 was on the deadline day, and 49% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 13 March (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
30-09-2026 year end02-11-2026 today30-04-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Key points

  • Risk: Negative equitydebts exceed assets in financial year 2025 -€376,063 View
  • Caution: From profit to loss in 2025after a profit of €103,893 in 2024 -€491,103 View
  • Caution: Lower solvency than 95% of companies in land transportsector median 40.1% · 1,081 companies -62.7% View
  • Positive: Filed on time since financial year 2018accounts within the deadline every year 8 years View
  • Flemish supportawarded from 2022 to 2025 €67,858 View

Recent changes

  1. · Gazette deed Appointment: BE-IIGBV (director)Permanent representative: LeoVanSteenberge · Resignation: JosBekaert (director) · Reappointments: MarcVerberckmoes (gedelegeerdbestuurder) and EricVastiau (director)
  2. · Gazette deed Incorporation
All 16 events

Comparable companies

These companies have the same main activity as V.B.M.: freight transport by road (NACE 49410). They are comparable in size and age: total assets between €489,000 and €1.3m, founded between 1990 and 2005.

CompanyTotal assetsTurnover
V.B.M. Sint-Gillis-Waas€0.6m€1.4m
MAXITRANS Balen€1.1m€1.9m
M.T. TRANS Lokeren€1.3m€2.0m
CHEESELINE Brugge€0.6m€1.3m
Transport De Kock Overijse€1.3m€1.6m
TRANSSYSTEMS Antwerpen€0.5m€1.3m
ARDENNE et MEUSE LOGISTIC Herstal€1.3m€2.1m
Full comparison

Key facts about V.B.M.

What is the company number of V.B.M.?
The company number of V.B.M. is 0440.809.174. The VAT number is the same number with BE in front: BE 0440.809.174.
Where is V.B.M. based?
The registered office is at Reepstraat(SGW) 121, 9170 Sint-Gillis-Waas.Company details
What does V.B.M. do?
According to the KBO register, the main activity is freight transport by road (NACE 49410).
What is the legal form of V.B.M.?
The legal form of V.B.M. is Public limited company (NV).
When was V.B.M. founded?
V.B.M. was founded on 16-05-1990.
Is V.B.M. still active?
Yes, V.B.M. is an active enterprise in the KBO register.
How many employees does V.B.M. have?
V.B.M. had an average of 21.2 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of V.B.M.?
The turnover of V.B.M. was €1.4m in financial year 2025, according to the filed annual accounts.
Is V.B.M. profitable?
In financial year 2025, V.B.M. made a loss of €491,103.
Where can I find the annual accounts of V.B.M.?
V.B.M. filed 35 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of V.B.M. due?
V.B.M. must file the annual accounts for financial year 2026 by 30-04-2027.Timeline

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