V.R. EMBROIDERY
InactiveV.R. EMBROIDERY was declared bankrupt on 10-10-2024 (Ondernemingsrechtbank Gent, afdeling Dendermonde); the bankruptcy was closed by liquidation by judgment of 16-02-2026, published in the Belgian State Gazette on 27-02-2026.
No longer registered with the KBO; last annual accounts for fiscal year 2023.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-10-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-10-2024 close31-05-2025 deadline22-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-10-2023 was due by 31-05-2024 and was filed on 07-05-2024, 24 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
24 d early
2022
153 d late
2021
504 d late
2020
71 d late
2019
305 d late
← before the deadline
after the deadline →
Financials · fiscal year 2023, abbreviated schema
Turnover
€1.73M▲ 6.8%
2022 · €1.62M
2018: €2.34M
2019: €2.19M
2020: €2.00M
2021: €1.74M
2022: €1.62M
2018 → 2023
EBIT margin
-0.9%▲ 4.1pp
2022 · -5.0%
2018: 3.6%
2019: 0.1%
2020: -1.2%
2021: -1.8%
2022: -5.0%
2018 → 2023
Net result
€-68k▲ 37.7%
2022 · €-110k
2018: €36k
2019: €-25k
2020: €-58k
2021: €-49k
2022: €-110k
2018 → 2023
Working capital
€52k▼ 55.9%
2022 · €118k
2018: €351k
2019: €327k
2020: €277k
2021: €229k
2022: €118k
2018 → 2023
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20192020202120222023Trend
Turnover€2.19M-€2.00M▼ 8.9%€1.74M▼ 13.2%€1.62M▼ 6.5%€1.73M▲ 6.8%
Equity€-44k-€-102k▼ 134%€-151k▼ 48.5%€-261k▼ 72.5%€-329k▼ 26.2%
Operating result€3k-€-24k€-32k▼ 32.5%€-81k▼ 153%€-16k▲ 80.7%
Net result€-25k-€-58k▼ 130%€-49k▲ 15.2%€-110k▼ 122%€-68k▲ 37.7%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €16k in 2023 against €81k in 2022; the loss shrinks.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €1.03M
Fixed assets
€7k▼ 28.4%
Current assets
€1.02M▲ 2.3%
Key figures and ratios
EBITDA
€-13k▲
2022 · €-77k
Cash flow
€-66k▲
2022 · €-106k
Solvency
-32.0%▼
2022 · -25.9%
Current ratio
1.05▼
2022 · 1.13
Quick ratio
0.52▼
2022 · 0.56
Debt / equity
-4.13▲
2022 · -4.87
ROA
-6.6%▲
2022 · -10.9%
Interest coverage
-0.22▲
2022 · -2.47
Debt
€1.36M▲
2022 · €1.27M
Debt ≤ 1 year
€972k▲
2022 · €883k
Debt > 1 year
€388k=
2022 · €388k
Income taxes
€-2▼
2022 · €4
Staff costs
€315k▲
2022 · €293k
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 · 2023 against 2022
Balance sheet
Code20222023
Assets
Total assets20/58€1.01M€1.03M▲
Fixed assets21/28€9k€7k▼
Tangible fixed assets22/27€9k€6k▼
Land and buildings22€2k€98▼
Plant, machinery and equipment23€6k€6k▼
Furniture and vehicles24€1k€593▼
Financial fixed assets28€47€47=
Current assets29/58€1.00M€1.02M▲
Stocks and contracts in progress3€508k€521k▲
Stocks30/36€508k€521k▲
Amounts receivable within one year40/41€383k€387k▲
Trade receivables40€382k€386k▲
Other amounts receivable41€1k€1k▼
Cash at bank and in hand54/58€97k€105k▲
Deferred charges and accrued income490/1€12k€11k▼
Equity and liabilities
Total equity and liabilities10/49€1.01M€1.03M▲
Equity10/15€-261k€-329k▼
Contributions10/11€122k€122k=
Capital10€122k€122k=
Issued capital100€122k€122k=
Profit (loss) carried forward14€-383k€-451k▼
Amounts payable17/49€1.27M€1.36M▲
Amounts payable after more than one year17€388k€388k=
Financial debts170/4€388k€388k=
Amounts payable within one year42/48€883k€972k▲
Financial debts43€548k€548k=
Credit institutions430/8€548k€548k=
Trade debts44€129k€175k▲
Suppliers440/4€129k€175k▲
Taxes, remuneration and social security45€115k€110k▼
Taxes450/3€72k€38k▼
Remuneration and social security454/9€43k€72k▲
Other amounts payable47/48€91k€139k▲
Income statement
Code20222023
Turnover70€1.62M€1.73M▲
Goods, raw materials, services and sundry goods60/61€1.38M€1.43M▲
Remuneration, social security and pensions62€293k€315k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€3k▼
Other operating charges640/8€25k€4k▼
Gross operating margin9900€241k€305k▲
Operating profit (loss)9901€-81k€-16k▲
Financial income75/76B€3k€7k▲
Recurring financial income75€3k€7k▲
Financial charges65/66B€31k€60k▲
Recurring financial charges65€31k€60k▲
Profit (loss) for the period before taxes9903€-110k€-68k▲
Income taxes67/77€4€-2▼
Profit (loss) for the period9904€-110k€-68k▲
Profit (loss) for the period to be appropriated9905€-110k€-68k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-383k€-451k▼
Profit (loss) brought forward from the previous period14P€-273k€-383k▼
Social balance
Average headcount (FTE)908711.710.4▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
27-02
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Gent, afdeling Dendermonde · V.R. EMBROIDERY NV PAROCHIESTRAAT 102, 9472 IDDERGEM · event 16-02-2026
2024
20-11
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Dendermonde · V.R. EMBROIDERY NV PARO- CHIESTRAAT 102, 9472 IDDERGEM · event 10-10-2024
07-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 153 days late
17-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 504 days late
2022
31-10
Financial
Weakest financial yearnet €-110k
Net result drops to €-110k, the lowest in the series.
2021
10-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 71 days late
01-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 305 days late
2019
24-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 146 days late
2018
18-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 48 days late
2017
05-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 127 days late
09-03
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 282 days late
2015
25-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 86 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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
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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | MARGA PIETERS AFFLIGEMDREEF 144, 9300 AALST- |
10-10-2024 → present |