V.M.B.
ActiveSummary
V.M.B. has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €480k and a net result of €44k. Equity is growing by ~4.3% per year across the filed fiscal years. Its solvency ranks better than 61% of 7838 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability75▲+2
Solvency79▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity short (current ratio 0.4 against 0.39 in 2024; short-term debt: 46.2% and cash: 17.4% of total assets), and 46.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
53.6%
Return on assets
4.9%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-07-2026, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
23 d early
2024
11 d late
2023
20 d early
2022
17 d early
2021
23 d early
2020
28 d late
2019
98 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€480k▲ 10.0%
2024 · €436k
2018: €339klowest in 8 years
2019: €356k▲ +5.2% vs 2018
2020: €370k▲ +3.9% vs 2019
2021: €386k▲ +4.4% vs 2020
2022: €396k▲ +2.6% vs 2021
2023: €401k▲ +1.2% vs 2022
2024: €436k▲ +8.8% vs 2023
2025: €480k▲ +10.0% vs 2024highest in 8 years
2018 → 2025
Total assets
€895k▼ 5.8%
2024 · €949k
2018: €932k
2019: €920k▼ -1.4% vs 2018
2020: €895k▼ -2.6% vs 2019
2021: €906k▲ +1.2% vs 2020
2022: €909k▲ +0.3% vs 2021
2023: €945k▲ +3.9% vs 2022
2024: €949k▲ +0.5% vs 2023highest in 8 years
2025: €895k▼ -5.8% vs 2024lowest in 8 years
2018 → 2025
Net result
€44k▲ 23.0%
2024 · €35k
2018: €14k
2019: €18k▲ +28.6% vs 2018
2020: €14k▼ -22.0% vs 2019
2021: €16k▲ +17.7% vs 2020
2022: €10k▼ -38.6% vs 2021
2023: €5k▼ -53.5% vs 2022lowest in 8 years
2024: €35k▲ +664% vs 2023
2025: €44k▲ +23.0% vs 2024highest in 8 years
2018 → 2025
Working capital
€-248k▲ 20.8%
2024 · €-313k
2018: €-381k
2019: €-402k▼ -5.5% vs 2018
2020: €-406k▼ -1.2% vs 2019
2021: €-413k▼ -1.7% vs 2020lowest in 8 years
2022: €-400k▲ +3.3% vs 2021
2023: €-372k▲ +7.0% vs 2022
2024: €-313k▲ +15.7% vs 2023
2025: €-248k▲ +20.8% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€386k-€396k▲ 2.6%€401k▲ 1.2%€436k▲ 8.8%€480k▲ 10.0%
2021: €386klowest in 5 years
2022: €396k▲ +2.6% vs 2021
2023: €401k▲ +1.2% vs 2022
2024: €436k▲ +8.8% vs 2023
2025: €480k▲ +10.0% vs 2024highest in 5 years
Operating result€20k-€13k▼ 34.4%€18k▲ 37.1%€63k▲ 243%€69k▲ 9.2%
2021: €20k
2022: €13k▼ -34.4% vs 2021lowest in 5 years
2023: €18k▲ +37.1% vs 2022
2024: €63k▲ +243% vs 2023
2025: €69k▲ +9.2% vs 2024highest in 5 years
Net result€16k-€10k▼ 38.6%€5k▼ 53.5%€35k▲ 664%€44k▲ 23.0%
2021: €16k
2022: €10k▼ -38.6% vs 2021
2023: €5k▼ -53.5% vs 2022lowest in 5 years
2024: €35k▲ +664% vs 2023
2025: €44k▲ +23.0% vs 2024highest in 5 years
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 9% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €895k
Fixed assets
€729k ▼ 2.9%
Current assets
€165k ▼ 16.7%
Equity and liabilities €895k
Equity
€480k ▲ 10.0%
Debt
€415k ▼ 19.2%
Debt's share of the balance-sheet total falls from 54.0% to 46.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€91k▲
2024 · €85k
Cash flow
€65k▲
2024 · €57k
Current ratio
0.40▲
2024 · 0.39
Debt to equity
0.86▼
2024 · 1.18
ROE
9.1%▲
2024 · 8.1%
ROA
4.9%▲
2024 · 3.7%
Interest coverage
8.87▲
2024 · 7.43
Debt ≤ 1 year
€414k▼
2024 · €512k
Income taxes
€20k▲
2024 · €17k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 44 lines
Balance sheet
Code20242025
Assets
Total assets20/58€949k€895k▼
Fixed assets21/28€751k€729k▼
Tangible fixed assets22/27€751k€729k▼
Land and buildings22€746k€725k▼
Furniture and vehicles24€5k€4k▼
Current assets29/58€198k€165k▼
Amounts receivable within one year40/41€13k€8k▼
Trade receivables40€9k€0▼
Other amounts receivable41€3k€8k▲
Cash at bank and in hand54/58€184k€155k▼
Deferred charges and accrued income490/1€1k€2k▲
Equity and liabilities
Total equity and liabilities10/49€949k€895k▼
Equity10/15€436k€480k▲
Contributions10/11€109k€109k=
Capital10€109k€109k=
Issued capital100€109k€109k=
Reserves13€327k€370k▲
Non-distributable reserves130/1€11k€11k=
Legal reserve130€11k€11k=
Tax-exempt reserves132€13k€13k=
Distributable reserves133€303k€347k▲
Profit (loss) carried forward14€779€779=
Amounts payable17/49€513k€415k▼
Amounts payable within one year42/48€512k€414k▼
Trade debts44€11k€5k▼
Suppliers440/4€11k€5k▼
Other amounts payable47/48€501k€408k▼
Accrued charges and deferred income492/3€1k€1k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€22k€22k▲
Other operating charges640/8€9k€10k▲
Gross operating margin9900€94k€101k▲
Operating profit (loss)9901€63k€69k▲
Financial income75/76B€0€5k▲
Recurring financial income75€0€5k▲
Financial charges65/66B€11k€10k▼
Recurring financial charges65€11k€10k▼
Profit (loss) for the period before taxes9903€52k€64k▲
Income taxes67/77€17k€20k▲
Profit (loss) for the period9904€35k€44k▲
Profit (loss) for the period to be appropriated9905€35k€44k▲
Appropriation of the result
Profit (loss) to be appropriated9906€36k€44k▲
Profit (loss) brought forward from the previous period14P€779€779=
Transfer to equity691/2€35k€44k▲
To other reserves6921€35k€44k▲
The notes to these accounts (3 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20k | €24k | €23k | €22k | €22k | ▲ 1.0% |
| Other operating charges640/8 | €8k | €8k | €8k | €9k | €10k | ▲ 12.4% |
| Gross operating margin9900 | €48k | €45k | €50k | €94k | €101k | ▲ 7.6% |
| Operating profit (loss)9901 | €20k | €13k | €18k | €63k | €69k | ▲ 9.2% |
| Financial income75/76B | - | - | €2 | €0 | €5k | - |
| Recurring financial income75 | - | - | €2 | €0 | €5k | - |
| Financial charges65/66B | €1k | €1k | €13k | €11k | €10k | ▼ 10.2% |
| Recurring financial charges65 | €1k | €1k | €13k | €11k | €10k | ▼ 10.2% |
| Profit (loss) for the period before taxes9903 | €19k | €12k | €6k | €52k | €64k | ▲ 23.0% |
| Income taxes67/77 | €3k | €2k | €1k | €17k | €20k | ▲ 23.0% |
| Profit (loss) for the period9904 | €16k | €10k | €5k | €35k | €44k | ▲ 23.0% |
| Profit (loss) for the period to be appropriated9905 | €16k | €10k | €5k | €35k | €44k | ▲ 23.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €906k | €909k | €945k | €949k | €895k | ▼ 5.8% |
| Fixed assets21/28 | €820k | €796k | €773k | €751k | €729k | ▼ 2.9% |
| Tangible fixed assets22/27 | €820k | €796k | €773k | €751k | €729k | ▼ 2.9% |
| Land and buildings22 | €812k | €789k | €767k | €746k | €725k | ▼ 2.8% |
| Furniture and vehicles24 | €7k | €7k | €6k | €5k | €4k | ▼ 16.4% |
| Current assets29/58 | €86k | €113k | €172k | €198k | €165k | ▼ 16.7% |
| Amounts receivable within one year40/41 | €39k | €41k | €8k | €13k | €8k | ▼ 35.4% |
| Trade receivables40 | €38k | €40k | €4k | €9k | €0 | ▼ 100% |
| Other amounts receivable41 | €321 | €774 | €3k | €3k | €8k | ▲ 135% |
| Cash at bank and in hand54/58 | €47k | €70k | €163k | €184k | €155k | ▼ 15.7% |
| Deferred charges and accrued income490/1 | €1k | €1k | €1k | €1k | €2k | ▲ 26.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €906k | €909k | €945k | €949k | €895k | ▼ 5.8% |
| Equity10/15 | €386k | €396k | €401k | €436k | €480k | ▲ 10.0% |
| Contributions10/11 | €109k | €109k | €109k | €109k | €109k | = |
| Capital10 | €109k | €109k | €109k | €109k | €109k | = |
| Issued capital100 | €109k | €109k | €109k | €109k | €109k | = |
| Reserves13 | €194k | €288k | €292k | €327k | €370k | ▲ 13.3% |
| Non-distributable reserves130/1 | €11k | €11k | €11k | €11k | €11k | = |
| Legal reserve130 | €11k | €11k | €11k | €11k | €11k | = |
| Tax-exempt reserves132 | €13k | €13k | €13k | €13k | €13k | = |
| Distributable reserves133 | €170k | €264k | €268k | €303k | €347k | ▲ 14.3% |
| Profit (loss) carried forward14 | €84k | €149 | €779 | €779 | €779 | = |
| Amounts payable17/49 | €520k | €512k | €544k | €513k | €415k | ▼ 19.2% |
| Amounts payable after more than one year17 | €20k | €0 | - | - | - | - |
| Financial debts170/4 | €20k | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €500k | €512k | €544k | €512k | €414k | ▼ 19.2% |
| Current portion of amounts payable after more than one year42 | €35k | €20k | €0 | - | - | - |
| Trade debts44 | €2k | €3k | €12k | €11k | €5k | ▼ 49.8% |
| Suppliers440/4 | €2k | €3k | €12k | €11k | €5k | ▼ 49.8% |
| Taxes, remuneration and social security45 | €236 | €0 | - | - | - | - |
| Taxes450/3 | €236 | €0 | - | - | - | - |
| Other amounts payable47/48 | €462k | €490k | €532k | €501k | €408k | ▼ 18.5% |
| Accrued charges and deferred income492/3 | - | - | - | €1k | €1k | ▼ 13.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16k | €10k | €5k | €35k | €44k | ▲ 23.0% |
| + Depreciation and write-downs630 | €20k | €24k | €23k | €22k | €22k | ▲ 1.0% |
| Operating cash flow (approximation) | €36k | €34k | €28k | €57k | €65k | ▲ 14.7% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €24k | €92k | €22k | €-29k | ▼ 234% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
08-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €44k ▲23%
Operating result €69k, net result €44k, both a record.
11-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 11 days late
2024
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €5k ▼53.5%
Net result drops to €5k, the lowest in the series; recovery starts the following year.
14-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
08-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
28-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 28 days late
2020
06-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 98 days late
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 31 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 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, Beveren-Kruibeke-Zwijndrecht · 1 establishment unit since 1990
Ground area
4,403 m²
Building footprint
767 m²
Volume, LiDAR
5,044 m³
Parcel 46027B0166/00N000, Flanders · tallest building 7.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
CONNECTRANS
since 19902.050.374.518
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46027B0166/00N000 | Flanders | 4,403 m² | 1 · 767 m² | 7.6 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 15,529 companies in sector 43990 we hold annual accounts for 7,420. 4,640 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded10-10-1990
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
42110Construction of roads and motorways
Scores and ratios are computed by Checked and are not a credit decision.