V.B.M.
ActiveV.B.M. has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-376k) and a net result of €-491k. Equity is shrinking by ~15.6% per year across the filed fiscal years. Its solvency ranks better than 5% of 864 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
34
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-77
Solvency0▼-38
Growth52▼-4
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.56 against 1.57 in 2024; short-term debt: 46.6% and cash: 16.3% of total assets), and equity is negative.
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 49
Relative position
BE, all sectors
reference
Sector 49
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 · 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 2025Solvency, return and age of the figures
Solvency
-62.7%
Return on assets
-81.9%
Age of the figures
12 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-376k
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 filingsDeviation from the deadline
2025
45 d early
2024
48 d early
2023
50 d early
2022
46 d early
2021
53 d early
2020
32 d early
2019
1 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
18-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€1.44M▼ 35.5%
2024 · €2.24M
2018: €3.28M
2019: €3.16M
2020: €2.86M
2021: €2.98M
2022: €2.54M
2023: €2.22M
2024: €2.24M
2018 → 2025
EBIT margin
-33.4%▼ 38.3pp
2024 · 4.9%
2018: -16.1%
2019: 24.0%
2020: -0.1%
2021: 0.9%
2022: -10.8%
2023: -1.3%
2024: 4.9%
2018 → 2025
Net result
€-491k
2024 · €104k
2018: €-529k
2019: €744k
2020: €4k
2021: €27k
2022: €-286k
2023: €-47k
2024: €104k
2018 → 2025
Working capital
€-124k
2024 · €131k
2018: €-80k
2019: €-260k
2020: €265k
2021: €156k
2022: €76k
2023: €16k
2024: €131k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€2.98M-€2.54M▼ 15.0%€2.22M▼ 12.4%€2.24M▲ 0.7%€1.44M▼ 35.5%
Equity€352k-€63k▼ 81.9%€14k▼ 77.3%€117k▲ 710%€-376k
Operating result€28k-€-274k€-29k▲ 89.3%€110k€-482k
Net result€27k-€-286k€-47k▲ 83.4%€104k€-491k
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €482k after €110k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €600k
Fixed assets
€444k▼ 17.4%
Current assets
€156k▼ 56.8%
Key figures and ratios
EBITDA
€-326k▼
2024 · €257k
Cash flow
€-335k▼
2024 · €251k
Solvency
-62.7%▼
2024 · 13.0%
Current ratio
0.56▼
2024 · 1.57
Quick ratio
0.55▼
2024 · 1.54
Debt / equity
-2.60▼
2024 · 6.58
ROA
-81.9%▼
2024 · 11.6%
Interest coverage
-17.06▼
2024 · 16.68
Debt
€976k▲
2024 · €768k
Debt ≤ 1 year
€280k▲
2024 · €229k
Debt > 1 year
€692k▲
2024 · €534k
Income taxes
€176▲
2024 · €152
Staff costs
€1.13M▼
2024 · €1.43M
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€898k€600k▼
Fixed assets21/28€537k€444k▼
Tangible fixed assets22/27€529k€442k▼
Plant, machinery and equipment23€81k€106k▲
Furniture and vehicles24€14k€91k▲
Leasing and similar rights25€316k€143k▼
Other tangible fixed assets26€118k€102k▼
Financial fixed assets28€9k€2k▼
Affiliated companies280/1€5k-
Participating interests280€5k-
Other financial fixed assets284/8€4k€2k▼
Amounts receivable and cash guarantees285/8€4k€2k▼
Current assets29/58€360k€156k▼
Stocks and contracts in progress3€8k€2k▼
Stocks30/36€8k€2k▼
Goods purchased for resale34€8k€2k▼
Amounts receivable within one year40/41€205k€52k▼
Trade receivables40€200k€51k▼
Other amounts receivable41€5k€2k▼
Cash at bank and in hand54/58€123k€97k▼
Deferred charges and accrued income490/1€25k€4k▼
Equity and liabilities
Total equity and liabilities10/49€898k€600k▼
Equity10/15€117k€-376k▼
Contributions10/11€218k€218k=
Capital10€218k€218k=
Issued capital100€218k€218k=
Reserves13€405k€405k=
Non-distributable reserves130/1€22k€22k=
Legal reserve130€22k€22k=
Distributable reserves133€383k€383k=
Profit (loss) carried forward14€-515k€-1.01M▼
Investment grants15€9k€7k▼
Provisions and deferred taxes16€14k-
Provisions for liabilities and charges160/5€14k-
Other liabilities and charges164/5€14k-
Amounts payable17/49€768k€976k▲
Amounts payable after more than one year17€534k€692k▲
Financial debts170/4€150k€89k▼
Leasing and similar obligations172€150k€89k▼
Other amounts payable178/9€383k€603k▲
Amounts payable within one year42/48€229k€280k▲
Current portion of amounts payable after more than one year42€75k€58k▼
Trade debts44€18k€113k▲
Suppliers440/4€18k€113k▲
Taxes, remuneration and social security45€136k€109k▼
Taxes450/3€6k€5k▼
Remuneration and social security454/9€129k€104k▼
Accrued charges and deferred income492/3€5k€4k▼
Income statement
Code20242025
Operating income70/76A€2.74M€1.52M▼
Turnover70€2.24M€1.44M▼
Other operating income74€50k€45k▼
Non-recurring operating income76A€459k€36k▼
Operating charges60/66A€2.63M€2.00M▼
Goods for resale, raw materials and consumables60€18k€9k▼
Purchases600/8€7k€3k▼
Change in stocks: decrease (increase)609€11k€6k▼
Services and other goods61€1.02M€531k▼
Remuneration, social security and pensions62€1.43M€1.13M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€147k€156k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€110k
Provisions for liabilities and charges: additions (uses and reversals)635/8€-152k€-14k▲
Other operating charges640/8€66k€81k▲
Non-recurring operating charges66A€105k€7k▼
Operating profit (loss)9901€110k€-482k▼
Financial income75/76B€11k€12k▲
Recurring financial income75€11k€12k▲
Other financial income752/9€11k€12k▲
Financial charges65/66B€17k€21k▲
Recurring financial charges65€17k€21k▲
Debt charges650€15k€19k▲
Other financial charges652/9€1k€2k▲
Profit (loss) for the period before taxes9903€104k€-491k▼
Income taxes67/77€152€176▲
Taxes670/3€152€176▲
Profit (loss) for the period9904€104k€-491k▼
Profit (loss) for the period to be appropriated9905€104k€-491k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-515k€-1.01M▼
Profit (loss) brought forward from the previous period14P€-619k€-515k▲
Social balance
Average headcount (FTE)908728.921.2▼
The notes to these accounts (62 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
16-03
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
13-03
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
30-09
Financial
Back to profitnet €104k
Net result €104k after 2 loss-making years.
30-09
Financial
Equity above €100kEq €117k ▲710%
Equity rises from €14k to €117k.
11-03
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
15-03
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
08-03
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
29-03
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
30-09
Financial
Liquidity triplescurrent ratio 1.76
Current ratio from 0.62 to 1.76; short-term debt falls from €675k to €348k.
29-04
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
30-09
Financial
Back to profitnet €744k
Net result €744k after one loss-making year.
30-09
Financial
Equity above €200kEq €323k
Equity rises from €-419k to €323k.
28-03
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
28-02
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
13-03
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Sint-Gillis-Waas · 1 establishment unit since 1990
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.
Reepstraat(SGW) 1219170 Sint-Gillis-WaasGround area
3.0 ha
Building footprint
1.0 ha
Volume, LiDAR
89,750 m³
Parcel 46020B0346/00Z000, Flanders · tallest building 16.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Reepstraat(SGW) 121, 9170 Sint-Gillis-Waas
since 19902.050.600.883
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46020B0346/00Z000 | Flanders | 3.0 ha | 1 · 1.0 ha | 16.0 m · 2 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 7 entries · 67,858 EUR awarded · 67,780 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 16,161 EUR | 16,161 EUR |
| 2024 | 1 | 18,177 EUR | 18,177 EUR |
| 2023 | 2 | 19,723 EUR | 19,645 EUR |
| 2022 | 2 | 13,797 EUR | 13,797 EUR |
Schemes
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 12,605 companies in sector 49410 we hold annual accounts for 8,195. 6,366 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded16-05-1990
Fiscal year end30-09
Activities, NACEBEL
49410Freight transport by road
52100Warehousing and storage
Sources
Crossroads Bank for EnterprisesNational Bank · 35 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.