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V.E.S HEATING

Bankruptcy closed
Private limited companyfounded 2021KBO/BCE: BE 0771.593.329
Summary

V.E.S HEATING was declared bankrupt on 16-04-2024 (Ondernemingsrechtbank Brussel); the bankruptcy was closed for insufficient assets by judgment of 29-04-2025, published in the Belgian Official Gazette on 14-05-2025. The 2022 annual accounts show equity of €31,853 and a net result of €1,853.

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V.E.S HEATINGBankruptcy closed
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Financials · financial year 2022, micro format

2022 annual accounts filed late (85 days) Filed on 24 October 2023, deadline 31 July 2023 (7 months after the close on 31 December 2022, Companies Code art. 3:10). Source: NBB, 2023-00502826.

Turnover
€453,919
EBIT margin
2.1%
Net result
€1,853
Working capital
€15,907
Balance-sheet composition
Assets €156,088
Fixed assets €15,946
Current assets €140,142
Equity and liabilities €156,088
Equity €31,853
Debt €124,235
Debt finances 79.6% of the balance-sheet total.
Key figures and ratios
2022 value
EBITDA
€12,478
Cash flow
€4,613
Current ratio
1.13
Quick ratio
0.79
Debt to equity
3.90
ROE
5.8%
ROA
1.2%
Interest coverage
5.66
Debt ≤ 1 year
€124,235
Staff costs
€22,935
Annual accounts
Filed annual accounts As filed with the NBB · 2022 · 48 lines
Balance sheet Code2022
Assets
Total assets20/58€156,088
Fixed assets21/28€15,946
Tangible fixed assets22/27€15,946
Plant, machinery and equipment23€2,635
Furniture and vehicles24€3,498
Other tangible fixed assets26€9,813
Current assets29/58€140,142
Stocks and contracts in progress3€42,266
Stocks30/36€42,266
Amounts receivable within one year40/41€92,730
Trade receivables40€90,470
Other amounts receivable41€2,260
Cash at bank and in hand54/58€5,147
Equity and liabilities
Total equity and liabilities10/49€156,088
Equity10/15€31,853
Contributions10/11€30,000
Capital10€30,000
Issued capital100€30,000
Reserves13€1,853
Non-distributable reserves130/1€1,853
Legal reserve130€1,853
Amounts payable17/49€124,235
Amounts payable within one year42/48€124,235
Current portion of amounts payable after more than one year42€1,652
Trade debts44€89,786
Suppliers440/4€89,786
Taxes, remuneration and social security45€19,678
Taxes450/3€16,513
Remuneration and social security454/9€3,164
Other amounts payable47/48€13,119
Income statement Code2022
Turnover70€453,919
Goods, raw materials, services and sundry goods60/61€418,125
Remuneration, social security and pensions62€22,935
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2,760
Other operating charges640/8€382
Gross operating margin9900€35,795
Operating profit (loss)9901€9,718
Financial income75/76B€40
Recurring financial income75€40
Financial charges65/66B€7,905
Recurring financial charges65€2,206
Non-recurring financial charges66B€5,699
Profit (loss) for the period before taxes9903€1,853
Profit (loss) for the period9904€1,853
Profit (loss) for the period to be appropriated9905€1,853
Appropriation of the result
Profit (loss) to be appropriated9906€1,853
Transfer to equity691/2€1,853
To the legal reserve6920€1,853

The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line2022
Turnover70€453,919
Goods, raw materials, services and sundry goods60/61€418,125
Remuneration, social security and pensions62€22,935
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2,760
Other operating charges640/8€382
Gross operating margin9900€35,795
Operating profit (loss)9901€9,718
Financial income75/76B€40
Recurring financial income75€40
Financial charges65/66B€7,905
Recurring financial charges65€2,206
Non-recurring financial charges66B€5,699
Profit (loss) for the period before taxes9903€1,853
Profit (loss) for the period9904€1,853
Profit (loss) for the period to be appropriated9905€1,853
Line2022
Assets
Total assets20/58€156,088
Fixed assets21/28€15,946
Tangible fixed assets22/27€15,946
Plant, machinery and equipment23€2,635
Furniture and vehicles24€3,498
Other tangible fixed assets26€9,813
Current assets29/58€140,142
Stocks and contracts in progress3€42,266
Stocks30/36€42,266
Amounts receivable within one year40/41€92,730
Trade receivables40€90,470
Other amounts receivable41€2,260
Cash at bank and in hand54/58€5,147
Equity and liabilities
Total equity and liabilities10/49€156,088
Equity10/15€31,853
Contributions10/11€30,000
Capital10€30,000
Issued capital100€30,000
Reserves13€1,853
Non-distributable reserves130/1€1,853
Legal reserve130€1,853
Amounts payable17/49€124,235
Amounts payable within one year42/48€124,235
Current portion of amounts payable after more than one year42€1,652
Trade debts44€89,786
Suppliers440/4€89,786
Taxes, remuneration and social security45€19,678
Taxes450/3€16,513
Remuneration and social security454/9€3,164
Other amounts payable47/48€13,119
Line2022
Profit (loss) for the period9904€1,853
+ Depreciation and write-downs630€2,760
Operating cash flow (approximation)€4,613

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Filings with the National Bank (1)
Financial year Type Filed Reference
31-12-2022 micro format 24-10-2023 2023-00502826

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Of the 9,483 active companies whose main activity is installation of electric heating, air conditioning, cooling and ventilation (NACE 43222), figures are known for 5,768. 4,184 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector

Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.

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