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V.S.D.

Active
Private limited companyfounded 198838 yrs activeKorte Lozanastraat 20-26, 2018 Antwerpen, BelgiumKBO/BCE: BE 0434.168.436
Summary

V.S.D. has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.8m and a net result of €1.6m. Equity is shrinking by ~6.2% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.1% (very low).

Risk analysisWatch ReportCompare
V.S.D.ActiveChecked score 98/100
Risk analysis ReportCompare

Overview

Activity
Activity not known1 site
Size
€2.5mtotal assets 2025
Equity
€1.8m
Profit
€1.6m
Turnover not published (abridged schema)
Financial health
98 Excellent Checked score 2025
Bankruptcy chance 12 m
0.1%
Structure
Accounts filed 26 d late0 of 10 deeds read
Why 98- 1 change of registered office in 24 months+ Size: total assets €2.5m+ Figures for FY 2025 (filed 26-08-2026)+ Equity €1.8m (72.2% of total assets)Show the evidence

Checked score

Score 2025
98 / 100
Excellent
Probability in this band: under 0.55%
Better than 86% of its sector peers (no NACE code, small)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Strong
Solvency 97+25
equity 72.2% of total assets
Liquidity 65+29
short-term debt 25.2% · cash 19.4%
Profitability 100+72
return on assets 62.8%
Bankruptcy probability, 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 11-2024: 0.3% 12-2024: 0.3%● 0.0% vs 11-2024 01-2025: 0.3%▼ -0.7% vs 12-2024 02-2025: 0.3%▲ +1.1% vs 01-2025 03-2025: 0.3%▼ -0.4% vs 02-2025 04-2025: 0.3%▲ +1.9% vs 03-2025 05-2025: 0.1%▼ -48.4% vs 04-2025 06-2025: 0.6%▲ +292% vs 05-2025 07-2025: 0.6%● 0.0% vs 06-2025 08-2025: 0.6%● 0.0% vs 07-2025 09-2025: 0.6%● 0.0% vs 08-2025 10-2025: 0.6%● 0.0% vs 09-2025 11-2025: 0.6%● 0.0% vs 10-2025 12-2025: 0.6%● 0.0% vs 11-2025 01-2026: 0.6%● 0.0% vs 12-2025 02-2026: 0.6%▲ +0.7% vs 01-2026 03-2026: 0.6%● 0.0% vs 02-2026 04-2026: 0.6%▲ +8.0% vs 03-2026 05-2026: 0.7%▲ +21.8% vs 04-2026 06-2026: 0.9%▲ +28.2% vs 05-2026 07-2026: 1.0%▲ +6.7% vs 06-2026 08-2026: 1.5%▲ +49.0% vs 07-2026highest value 09-2026: 0.1%▼ -95.8% vs 08-2026lowest value 10-2026: 0.1%● 0.0% vs 09-2026lowest value
  • Size: total assets €2.5m lowers the probability for this profile
  • 1 change of registered office in 24 months raises the probability
  • Figures for FY 2025 (filed 26-08-2026) lowers the probability
  • Equity €1.8m (72.2% of total assets) lowers the probability
Credit up to €170,000 at 30 days acceptable
Liquidity ample (current ratio 3.68 against 0.11 in 2024; short-term debt: 25.2% and cash: 19.4% of total assets), and 27.8% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (no NACE code, small). Better than this share of them on solvency 61%, liquidity 86%, profitability 98%, growth against the median 99%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 04-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Size: total assets €2.5m
In the bankruptcy model this factor lowers the probability for this profile.
NBB · annual accounts
raises risk · 1 change of registered office in 24 months
In the bankruptcy model this factor raises the probability.
Belgian State Gazette
lowers risk · Figures for FY 2025 (filed 26-08-2026)
In the bankruptcy model this factor lowers the probability.
NBB · annual accounts
lowers risk · Equity €1.8m (72.2% of total assets)
In the bankruptcy model this factor lowers the probability.
NBB · annual accounts
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025
Equity per financial year
1819202122232425
2018 to 2025 · latest year €1.8m
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filings
Deviation from the deadline
2025
26 d late
2024
113 d early
2023
51 d early
2022
3 d early
2021
31 d late
2020
22 d early
2019
59 d early
← before the deadline after the deadline →
tick = median of all Belgian filings

This company filed its last 7 accounts on average 27 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.

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. Usually files around 28 July (4 of the last 5 filed years within 47 days of that day).
Companies Code · seven months
Position in the running window
05-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · micro…
  2. Back to profitnet €1.6m
  3. Liquidity times 34current ratio 3.68

Key points

  • Positive: Equity rose in 2025from €231,967 to €1.8m ▲ 675% View
  • Active since 1988founded 27-04-1988 38 years View
  • Total assets 20256 fiscal years filed €2.5m View

By topic

Financials

Fiscal year
2025
Total assets
€2.5m
Profit
€1.6m
Solvency
72.2%
Total assets▲ 400%
Net result
20182025
Go to Financials

Timeline

Events
15
Since
2017
Next accounts
by 31-07-2027
  1. 26-08-2026Annual accounts filed
  2. 31-12-2025Back to profit
  3. 31-12-2025Liquidity times 34
Go to Timeline

Company details

Sites
1
Legal form
Private limited company
Founded
27-04-1988
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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