V.S.H.
ActiveSummary
V.S.H. has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €71k and a net result of €10k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 20% of 4603 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
55
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability70▼-1
Solvency32▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3.5k at 30 days acceptable
Liquidity ample (current ratio 1.75 against 1.98 in 2024; short-term debt: 12.9% and cash: 2.4% of total assets), but 93.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 49
Relative position
BE, all sectors
reference
Sector 49
higher
← fewer bankruptcies
more bankruptcies →
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
6.8%
Return on assets
0.9%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 4603 sector peers (2025).
NBB · sector comparisonPosition among 4603 sector peers
Solvency
better than 20%
← weakest
strongest →
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 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €71k
neutral · A punctual record breaks
This company filed 4 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 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 filingsDeviation from the deadline
2025
24 d late
2024
39 d early
2023
61 d early
2022
32 d early
2021
20 d early
2020
31 d late
2019
25 d early
← 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€71k▲ 15.4%
2024 · €62k
2018: €-99k
2019: €-151k
2020: €-162k
2021: €-140k
2022: €-51k
2023: €40k
2024: €62k
2018 → 2025
Total assets
€1.05M▼ 0.6%
2024 · €1.06M
2018: €1.12M
2019: €1.05M
2020: €939k
2021: €972k
2022: €1.00M
2023: €1.07M
2024: €1.06M
2018 → 2025
Net result
€10k▼ 56.3%
2024 · €22k
2018: €-17k
2019: €-52k
2020: €-11k
2021: €22k
2022: €90k
2023: €90k
2024: €22k
2018 → 2025
Working capital
€101k▼ 5.7%
2024 · €108k
2018: €88k
2019: €82k
2020: €94k
2021: €123k
2022: €160k
2023: €175k
2024: €108k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-140k-€-51k▲ 64.0%€40k€62k▲ 54.6%€71k▲ 15.4%
Operating result€28k-€95k▲ 238%€95k▼ 0.1%€32k▼ 66.8%€17k▼ 46.6%
Net result€22k-€90k▲ 309%€90k▲ 0.7%€22k▼ 75.9%€10k▼ 56.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 47% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.05M
Fixed assets
€815k ▼ 3.1%
Current assets
€237k ▲ 9.2%
Equity and liabilities €1.05M
Equity
€71k ▲ 15.4%
Debt
€981k ▼ 1.6%
Debt's share of the balance-sheet total falls from 94.2% to 93.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€118k▼
2024 · €125k
Cash flow
€111k▼
2024 · €116k
Current ratio
1.75▼
2024 · 1.98
Quick ratio
0.75▼
2024 · 0.75
Debt to equity
13.80▼
2024 · 16.18
ROE
13.4%▼
2024 · 35.3%
ROA
0.9%▼
2024 · 2.1%
Interest coverage
64.21▲
2024 · 42.43
Debt ≤ 1 year
€136k▲
2024 · €109k
Debt > 1 year
€846k▼
2024 · €888k
Income taxes
€6k▼
2024 · €7k
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 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.06M€1.05M▼
Fixed assets21/28€842k€815k▼
Tangible fixed assets22/27€842k€815k▼
Land and buildings22€785k€779k▼
Plant, machinery and equipment23€2k€662▼
Furniture and vehicles24€55k€36k▼
Financial fixed assets28€270€270=
Current assets29/58€217k€237k▲
Stocks and contracts in progress3€135k€136k▲
Stocks30/36€135k€136k▲
Amounts receivable within one year40/41€38k€75k▲
Trade receivables40€38k€75k▲
Cash at bank and in hand54/58€43k€25k▼
Deferred charges and accrued income490/1€1k€979▼
Equity and liabilities
Total equity and liabilities10/49€1.06M€1.05M▼
Equity10/15€62k€71k▲
Contributions10/11€19k€19k=
Profit (loss) carried forward14€43k€53k▲
Amounts payable17/49€997k€981k▼
Amounts payable after more than one year17€888k€846k▼
Financial debts170/4€271k€226k▼
Other amounts payable178/9€617k€620k▲
Amounts payable within one year42/48€109k€136k▲
Current portion of amounts payable after more than one year42€71k€45k▼
Trade debts44€34k€87k▲
Suppliers440/4€34k€87k▲
Taxes, remuneration and social security45€5k€4k▼
Taxes450/3€5k€4k▼
Accrued charges and deferred income492/3€0-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€94k€101k▲
Other operating charges640/8€22k€20k▼
Gross operating margin9900€147k€138k▼
Operating profit (loss)9901€32k€17k▼
Financial income75/76B€1€2▲
Recurring financial income75€1€2▲
Financial charges65/66B€3k€2k▼
Recurring financial charges65€3k€2k▼
Profit (loss) for the period before taxes9903€29k€15k▼
Income taxes67/77€7k€6k▼
Profit (loss) for the period9904€22k€10k▼
Profit (loss) for the period to be appropriated9905€22k€10k▼
Appropriation of the result
Profit (loss) to be appropriated9906€43k€53k▲
Profit (loss) brought forward from the previous period14P€21k€43k▲
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 24 days late
2025
22-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €90k ▲0.7%
Net result €90k, the highest in the series.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
11-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €22k
Net result €22k after 3 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
06-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet €-52k
Net result drops to €-52k, the lowest in the series; recovery starts the following year.
05-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 36 days late
2018
27-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 58 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Eghezée · 1 establishment unit since 2015
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.
Rue du Moulin,Branchon 25310 EghezéeGround area
1.2 ha
Building footprint
2,443 m²
Parcel 92023B0639/00C000, Wallonia. Linked by address, not a title deed.
1 establishment unit
's HEEREN VINCENT
since 20152.247.206.225
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92023B0639/00C000 | Wallonia | 1.2 ha | 1 · 2,443 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
Transports Schaus-Weber et Compagnie
BE 0405.850.572
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SOTEF
BE 0689.992.375
Koekelberg · Eq €71,118
Lemberg
BE 0735.968.989
Asse · Eq €71,199
Transports Delforge Pierre
BE 0899.305.212
Sambreville · Eq €71,070
VALOTRA
BE 0739.505.333
Lontzen · Eq €71,215
Of 12,604 companies in sector 49410 we hold annual accounts for 8,202. 6,214 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded15-09-2015
Fiscal year end31-12
Activities, NACEBEL 2025
49410Freight transport by road
46711Wholesale of cars and light vans (up to 3.5 tonnes)
47811Retail sale of cars and light vans (up to 3.5 tonnes)
46712Wholesale trade
47812Retail trade
95311General maintenance and repair of cars and light vans (up to 3.5 tonnes)
70200Business and other management consultancy
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.