Summary
V.M.D. is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €135,281 and a net result of €21,912. Equity is growing by ~4.3% per year across the filed fiscal years. Its solvency ranks better than 28% of 3318 sector peers (fiscal year 2024). The company has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
61 d late
2023
68 d late
2022
92 d late
2021
92 d late
2020
61 d late
2019
91 d late
← 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 78 days after the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€135,281▲ 1.4%
2023 · €133,369
Net result
€21,912▼ 3.3%
2023 · €22,656
Total assets
€565,113▲ 4.1%
2023 · €542,864
Solvency
23.9%▼ 0.6pp
2023 · 24.6%
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 66, Activities auxiliary to financial services and insurance activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€3,465▼ 95.3%€50,414▲ 1,355%€20,679▼ 59.0%€34,644▲ 67.5%€32,024▼ 7.6%
Net result€5,186below the sector's middle half▼ 90.4%€34,772within the sector's middle half▲ 571%€10,602within the sector's middle half▼ 69.5%€22,656within the sector's middle half▲ 114%€21,912within the sector's middle half▼ 3.3%
Equity€115,338within the sector's middle half▲ 0.2%€120,111within the sector's middle half▲ 4.1%€130,713within the sector's middle half▲ 8.8%€133,369within the sector's middle half▲ 2.0%€135,281within the sector's middle half▲ 1.4%
Total assets€595,812within the sector's middle half▲ 132%€535,172within the sector's middle half▼ 10.2%€547,724within the sector's middle half▲ 2.3%€542,864within the sector's middle half▼ 0.9%€565,113within the sector's middle half▲ 4.1%
Debt€472,974▲ 251%€407,562▼ 13.8%€417,012▲ 2.3%€409,495▼ 1.8%€429,832▲ 5.0%
Working capital€69,137within the sector's middle half▼ 39.0%€67,126within the sector's middle half▼ 2.9%€40,823within the sector's middle half▼ 39.2%€33,146within the sector's middle half▼ 18.8%€34,574within the sector's middle half▲ 4.3%
Solvency19.4%within the sector's middle half▼ 25.4pp22.4%within the sector's middle half▲ 3.1pp23.9%within the sector's middle half▲ 1.4pp24.6%within the sector's middle half▲ 0.7pp23.9%within the sector's middle half▼ 0.6pp
Current ratio1.38within the sector's middle half▼ 0.481.55within the sector's middle half▲ 0.171.28within the sector's middle half▼ 0.271.22within the sector's middle half▼ 0.061.18within the sector's middle half▼ 0.03
Return on assets (ROA)0.9%below the sector's middle half▼ 20.1pp6.5%within the sector's middle half▲ 5.6pp1.9%within the sector's middle half▼ 4.6pp4.2%within the sector's middle half▲ 2.2pp3.9%within the sector's middle half▼ 0.3pp
Staff (FTE)2within the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 66, Activities auxiliary to financial services and insurance activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 8% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €565,113
Fixed assets
€341,314 ▼ 4.2%
Current assets
€223,800 ▲ 19.9%
Equity and liabilities €565,113
Equity
€135,281 ▲ 1.4%
Debt
€429,832 ▲ 5.0%
Debt's share of the balance-sheet total rises from 75.4% to 76.1%. Equity and debt are higher.
Key figures and ratios
ROE
16.2%▼
2023 · 17.0%
Debt ≤ 1 year
€189,225▲
2023 · €153,456
Debt > 1 year
€240,607▼
2023 · €256,039
Income taxes
€13,303▼
2023 · €13,755
Staff costs
€124,703▲
2023 · €116,870
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €60,576 | €144,009 | €116,870 | €124,703 | ▲ 6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €64,879 | €11,107 | €13,154 | €15,043 | €14,948 | ▼ 0.6% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | -€7,500 | - | - | - |
| Other operating charges640/8 | - | €2,531 | €5,667 | €6,395 | €3,514 | ▼ 45.0% |
| Gross operating margin9900 | €121,255 | €124,628 | €176,009 | €172,953 | €175,189 | ▲ 1.3% |
| Operating profit (loss)9901 | €3,465 | €50,414 | €20,679 | €34,644 | €32,024 | ▼ 7.6% |
| Financial income75/76B | - | €9,001 | €8,693 | €9,059 | €11,162 | ▲ 23.2% |
| Recurring financial income75 | €13,788 | €9,001 | €8,693 | €9,059 | €11,162 | ▲ 23.2% |
| Financial charges65/66B | - | €5,109 | €7,435 | €7,292 | €7,971 | ▲ 9.3% |
| Recurring financial charges65 | €2,004 | €5,109 | €7,435 | €7,292 | €7,971 | ▲ 9.3% |
| Profit (loss) for the period before taxes9903 | €15,249 | €54,306 | €21,936 | €36,411 | €35,215 | ▼ 3.3% |
| Income taxes67/77 | €10,063 | €19,533 | €11,334 | €13,755 | €13,303 | ▼ 3.3% |
| Profit (loss) for the period9904 | €5,186 | €34,772 | €10,602 | €22,656 | €21,912 | ▼ 3.3% |
| Profit (loss) for the period to be appropriated9905 | €5,186 | €34,772 | €10,602 | €22,656 | €21,912 | ▼ 3.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €595,812 | €535,172 | €547,724 | €542,864 | €565,113 | ▲ 4.1% |
| Fixed assets21/28 | €345,385 | €346,573 | €361,087 | €356,261 | €341,314 | ▼ 4.2% |
| Intangible fixed assets21 | - | €0 | - | - | - | - |
| Tangible fixed assets22/27 | €342,648 | €343,836 | €358,350 | €353,525 | €338,577 | ▼ 4.2% |
| Land and buildings22 | - | €328,252 | €319,161 | €310,070 | €300,979 | ▼ 2.9% |
| Plant, machinery and equipment23 | - | €11,469 | €36,612 | €42,275 | €37,442 | ▼ 11.4% |
| Furniture and vehicles24 | - | €4,115 | €2,577 | €1,179 | €156 | ▼ 86.8% |
| Financial fixed assets28 | €2,737 | €2,737 | €2,737 | €2,737 | €2,737 | = |
| Current assets29/58 | €250,427 | €188,600 | €186,637 | €186,602 | €223,800 | ▲ 19.9% |
| Amounts receivable after more than one year29 | - | €177,357 | - | - | - | - |
| Trade receivables290 | - | €15,921 | - | - | - | - |
| Other amounts receivable291 | - | €161,436 | - | - | - | - |
| Amounts receivable within one year40/41 | €208,196 | - | €171,600 | €168,645 | €217,963 | ▲ 29.2% |
| Trade receivables40 | - | - | €3,496 | €3,087 | €15,390 | ▲ 399% |
| Other amounts receivable41 | - | - | €168,103 | €165,558 | €202,573 | ▲ 22.4% |
| Cash at bank and in hand54/58 | €28,487 | €2,246 | €6,353 | €8,899 | €5,836 | ▼ 34.4% |
| Deferred charges and accrued income490/1 | - | €8,997 | €8,685 | €9,059 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €595,812 | €535,172 | €547,724 | €542,864 | €565,113 | ▲ 4.1% |
| Equity10/15 | €115,338 | €120,111 | €130,713 | €133,369 | €135,281 | ▲ 1.4% |
| Contributions10/11 | €18,600 | €18,600 | €20,460 | €20,460 | €20,460 | = |
| Reserves13 | €1,860 | €1,860 | - | - | - | - |
| Non-distributable reserves130/1 | - | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | - | - | - | - |
| Profit (loss) carried forward14 | €94,878 | €99,651 | €110,253 | €112,909 | €114,821 | ▲ 1.7% |
| Provisions and deferred taxes16 | €7,500 | €7,500 | - | - | - | - |
| Provisions for liabilities and charges160/5 | - | €7,500 | - | - | - | - |
| Other liabilities and charges164/5 | - | €7,500 | - | - | - | - |
| Amounts payable17/49 | €472,974 | €407,562 | €417,012 | €409,495 | €429,832 | ▲ 5.0% |
| Amounts payable after more than one year17 | €291,684 | €286,088 | €271,198 | €256,039 | €240,607 | ▼ 6.0% |
| Financial debts170/4 | - | €286,088 | €271,198 | €256,039 | €240,607 | ▼ 6.0% |
| Amounts payable within one year42/48 | €181,290 | €121,474 | €145,814 | €153,456 | €189,225 | ▲ 23.3% |
| Current portion of amounts payable after more than one year42 | - | €15,290 | €14,890 | €15,159 | €15,432 | ▲ 1.8% |
| Trade debts44 | €109,956 | €19,732 | €38,202 | €34,026 | €50,761 | ▲ 49.2% |
| Suppliers440/4 | - | €19,732 | €35,702 | €31,526 | €50,761 | ▲ 61.0% |
| Bills of exchange payable441 | - | - | €2,500 | €2,500 | - | - |
| Taxes, remuneration and social security45 | - | €44,567 | €52,330 | €43,909 | €43,032 | ▼ 2.0% |
| Taxes450/3 | - | €29,030 | €30,188 | €24,858 | €24,655 | ▼ 0.8% |
| Remuneration and social security454/9 | - | €15,538 | €22,143 | €19,051 | €18,377 | ▼ 3.5% |
| Other amounts payable47/48 | - | €41,885 | €40,391 | €60,363 | €80,000 | ▲ 32.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,186 | €34,772 | €10,602 | €22,656 | €21,912 | ▼ 3.3% |
| + Depreciation and write-downs630 | €64,879 | €11,107 | €13,154 | €15,043 | €14,948 | ▼ 0.6% |
| Operating cash flow (approximation) | €70,065 | €45,879 | €23,756 | €37,700 | €36,860 | ▼ 2.2% |
| Investment in fixed assets (approximation) | - | -€12,295 | -€27,668 | -€10,218 | €0 | ▲ 100% |
| Change in cash | - | -€26,241 | €4,107 | €2,546 | -€3,062 | ▼ 220% |
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
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
07-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 68 days late
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 92 days late
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 92 days late
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 61 days late
2020
31-12
Financial
Weakest financial yearnet €5,186 ▼90.4%
Net result drops to €5,186, the lowest in the series; recovery starts the following year.
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 91 days late
2019
31-12
Financial
Highest result since 2018net €54,049 ▲45.6%
Operating result €72,995, net result €54,049, both a record.
31-12
Financial
Equity above €100,000Eq €115,152 ▲26.4%
2 profitable years in a row build equity to €115,152.
20-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 51 days late
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 59 days late
2017
14-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 14 days late
2016
25-07
NBB filing
Annual accounts filed
fiscal year 2015 · full 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, Tournai · 1 establishment unit since 1999
Ground area
486 m²
Building footprint
246 m²
Volume, LiDAR
2,910 m³
Parcel 57081F0720/00M000, Wallonia · tallest building 13.9 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Placette aux Oignons(TOU) 20, 7500 Tournai
since 19992.090.170.450
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57081F0720/00M000 | Wallonia | 486 m² | 1 · 246 m² | 13.9 m · 4 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.
Structure & network
Owners and holdings
1 ownerChain of control
- VMD COURTAGES
- V.M.D.
Highest known parent: VMD COURTAGES. The sources do not say who stands above it.
Owners 1
- VMD COURTAGESparent100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 4,674 companies in sector 66220 we hold annual accounts for 3,222. 2,795 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded23-12-1998
Fiscal year end31-12
Activities, NACEBEL 2025
66220Insurance agents and brokers
E-invoicing
Not found in the Peppol register
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.