V2I
ActiveSummary
V2I has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.40M and a net result of €814k. Equity is growing by ~14.4% per year across the filed fiscal years. Its solvency ranks better than 66% of 729 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability86▲+4
Solvency84▲+10
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €300k at 30 days acceptable
Liquidity ample (current ratio 3.78 against 4.95 in 2024; short-term debt: 16.7% and cash: 29.8% of total assets), and 40.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← 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
59.2%
Return on assets
14.2%
Age of the figures
9 mo
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
on the day
2023
33 d early
2022
58 d late
2021
78 d late
2020
117 d late
2019
122 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, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€814k▲ 39.4%
2024 · €584k
2018: €180k
2019: €143k▼ -20.5% vs 2018
2020: €27k▼ -80.8% vs 2019lowest in 8 years
2021: €111k▲ +307% vs 2020
2022: €225k▲ +102% vs 2021
2023: €308k▲ +36.7% vs 2022
2024: €584k▲ +89.9% vs 2023
2025: €814k▲ +39.4% vs 2024highest in 8 years
2018 → 2025
Working capital
€2.68M▲ 3.9%
2024 · €2.58M
2018: €1.85M
2019: €1.18M▼ -36.2% vs 2018lowest in 8 years
2020: €2.36M▲ +99.9% vs 2019
2021: €2.47M▲ +4.9% vs 2020
2022: €2.52M▲ +1.8% vs 2021
2023: €2.76M▲ +9.5% vs 2022highest in 8 years
2024: €2.58M▼ -6.5% vs 2023
2025: €2.68M▲ +3.9% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.52M-€1.73M▲ 14.0%€2.01M▲ 16.0%€2.64M▲ 31.7%€3.40M▲ 28.8%
2021: €1.52Mlowest in 5 years
2022: €1.73M▲ +14.0% vs 2021
2023: €2.01M▲ +16.0% vs 2022
2024: €2.64M▲ +31.7% vs 2023
2025: €3.40M▲ +28.8% vs 2024highest in 5 years
Operating result€128k-€237k▲ 84.5%€304k▲ 28.2%€586k▲ 92.7%€820k▲ 39.9%
2021: €128klowest in 5 years
2022: €237k▲ +84.5% vs 2021
2023: €304k▲ +28.2% vs 2022
2024: €586k▲ +92.7% vs 2023
2025: €820k▲ +39.9% vs 2024highest in 5 years
Net result€111k-€225k▲ 102%€308k▲ 36.7%€584k▲ 89.9%€814k▲ 39.4%
2021: €111klowest in 5 years
2022: €225k▲ +102% vs 2021
2023: €308k▲ +36.7% vs 2022
2024: €584k▲ +89.9% vs 2023
2025: €814k▲ +39.4% vs 2024highest in 5 years
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 40% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.75M
Fixed assets
€2.11M ▼ 2.2%
Current assets
€3.64M ▲ 12.7%
Equity and liabilities €5.75M
Equity
€3.40M ▲ 28.8%
Debt
€2.34M ▼ 14.6%
Debt's share of the balance-sheet total falls from 50.9% to 40.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.18M▲
2024 · €898k
Cash flow
€1.18M▲
2024 · €897k
Current ratio
3.78▼
2024 · 4.95
Debt to equity
0.69▼
2024 · 1.04
ROE
23.9%▲
2024 · 22.1%
ROA
14.2%▲
2024 · 10.8%
Interest coverage
51.73▲
2024 · 33.38
Debt ≤ 1 year
€961k▲
2024 · €652k
Debt > 1 year
€627k▼
2024 · €797k
Income taxes
€2k▼
2024 · €2k
Staff costs
€1.16M▲
2024 · €998k
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 · 58 lines
Balance sheet
Code20242025
Assets
Total assets20/58€5.39M€5.75M▲
Fixed assets21/28€2.16M€2.11M▼
Intangible fixed assets21€76k€31k▼
Tangible fixed assets22/27€1.91M€1.92M▲
Land and buildings22€1.16M€1.12M▼
Plant, machinery and equipment23€486k€552k▲
Furniture and vehicles24€262k€240k▼
Financial fixed assets28€171k€163k▼
Current assets29/58€3.23M€3.64M▲
Amounts receivable within one year40/41€2.26M€1.89M▼
Trade receivables40€678k€727k▲
Other amounts receivable41€1.59M€1.16M▼
Cash at bank and in hand54/58€932k€1.72M▲
Deferred charges and accrued income490/1€32k€34k▲
Equity and liabilities
Total equity and liabilities10/49€5.39M€5.75M▲
Equity10/15€2.64M€3.40M▲
Contributions10/11€90k€90k=
Capital10€90k€90k=
Issued capital100€90k€90k=
Reserves13€1.28M€1.28M=
Non-distributable reserves130/1€9k€9k=
Legal reserve130€9k€9k=
Tax-exempt reserves132€23k€23k=
Distributable reserves133€1.25M€1.25M=
Profit (loss) carried forward14€1.05M€1.83M▲
Investment grants15€218k€205k▼
Amounts payable17/49€2.74M€2.34M▼
Amounts payable after more than one year17€797k€627k▼
Financial debts170/4€797k€627k▼
Amounts payable within one year42/48€652k€961k▲
Current portion of amounts payable after more than one year42€224k€177k▼
Trade debts44€227k€542k▲
Suppliers440/4€227k€542k▲
Taxes, remuneration and social security45€200k€194k▼
Taxes450/3€51k€17k▼
Remuneration and social security454/9€150k€177k▲
Other amounts payable47/48€1k€49k▲
Accrued charges and deferred income492/3€1.29M€756k▼
Income statement
Code20242025
Remuneration, social security and pensions62€998k€1.16M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€312k€364k▲
Other operating charges640/8€25k€19k▼
Gross operating margin9900€1.92M€2.37M▲
Operating profit (loss)9901€586k€820k▲
Financial income75/76B€51k€19k▼
Recurring financial income75€46k€19k▼
Non-recurring financial income76B€4k-
Financial charges65/66B€50k€23k▼
Recurring financial charges65€27k€23k▼
Non-recurring financial charges66B€23k€9▼
Profit (loss) for the period before taxes9903€586k€816k▲
Income taxes67/77€2k€2k▼
Profit (loss) for the period9904€584k€814k▲
Profit (loss) for the period to be appropriated9905€584k€814k▲
Appropriation of the result
Profit (loss) to be appropriated9906€1.05M€1.87M▲
Profit (loss) brought forward from the previous period14P€468k€1.05M▲
Profit to be distributed694/7-€40k
Other beneficiaries697-€40k
Social balance
Average headcount (FTE)908712.113.5▲
The notes to these accounts (22 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €772k | €868k | €1.06M | €998k | €1.16M | ▲ 16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €97k | €156k | €256k | €312k | €364k | ▲ 16.6% |
| Other operating charges640/8 | €41k | €59k | €42k | €25k | €19k | ▼ 21.6% |
| Gross operating margin9900 | €1.04M | €1.32M | €1.66M | €1.92M | €2.37M | ▲ 23.3% |
| Operating profit (loss)9901 | €128k | €237k | €304k | €586k | €820k | ▲ 39.9% |
| Financial income75/76B | €6k | €12k | €32k | €51k | €19k | ▼ 61.5% |
| Recurring financial income75 | €6k | €12k | €32k | €46k | €19k | ▼ 58.0% |
| Non-recurring financial income76B | - | - | - | €4k | - | - |
| Financial charges65/66B | €18k | €24k | €27k | €50k | €23k | ▼ 54.4% |
| Recurring financial charges65 | €18k | €24k | €27k | €27k | €23k | ▼ 14.9% |
| Non-recurring financial charges66B | - | - | - | €23k | €9 | ▼ 100.0% |
| Profit (loss) for the period before taxes9903 | €117k | €226k | €309k | €586k | €816k | ▲ 39.3% |
| Income taxes67/77 | €5k | €604 | €1k | €2k | €2k | ▼ 0.7% |
| Profit (loss) for the period9904 | €111k | €225k | €308k | €584k | €814k | ▲ 39.4% |
| Profit (loss) for the period to be appropriated9905 | €111k | €225k | €308k | €584k | €814k | ▲ 39.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.42M | €4.96M | €5.53M | €5.39M | €5.75M | ▲ 6.7% |
| Fixed assets21/28 | €1.20M | €1.83M | €2.10M | €2.16M | €2.11M | ▼ 2.2% |
| Intangible fixed assets21 | €69k | €92k | €143k | €76k | €31k | ▼ 59.1% |
| Tangible fixed assets22/27 | €1.06M | €1.64M | €1.87M | €1.91M | €1.92M | ▲ 0.3% |
| Land and buildings22 | €925k | €1.10M | €1.19M | €1.16M | €1.12M | ▼ 3.2% |
| Plant, machinery and equipment23 | €70k | €485k | €495k | €486k | €552k | ▲ 13.5% |
| Furniture and vehicles24 | €70k | €60k | €179k | €262k | €240k | ▼ 8.3% |
| Financial fixed assets28 | €67k | €92k | €92k | €171k | €163k | ▼ 4.7% |
| Current assets29/58 | €3.22M | €3.14M | €3.42M | €3.23M | €3.64M | ▲ 12.7% |
| Amounts receivable within one year40/41 | €2.29M | €2.21M | €2.57M | €2.26M | €1.89M | ▼ 16.6% |
| Trade receivables40 | €1.02M | €393k | €646k | €678k | €727k | ▲ 7.2% |
| Other amounts receivable41 | €1.27M | €1.82M | €1.92M | €1.59M | €1.16M | ▼ 26.8% |
| Cash at bank and in hand54/58 | €900k | €873k | €811k | €932k | €1.72M | ▲ 84.2% |
| Deferred charges and accrued income490/1 | €28k | €49k | €47k | €32k | €34k | ▲ 7.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.42M | €4.96M | €5.53M | €5.39M | €5.75M | ▲ 6.7% |
| Equity10/15 | €1.52M | €1.73M | €2.01M | €2.64M | €3.40M | ▲ 28.8% |
| Contributions10/11 | €90k | €90k | €90k | €90k | €90k | = |
| Capital10 | €90k | €90k | €90k | €90k | €90k | = |
| Issued capital100 | €90k | €90k | €90k | €90k | €90k | = |
| Reserves13 | €782k | €1.03M | €1.28M | €1.28M | €1.28M | = |
| Non-distributable reserves130/1 | €9k | €9k | €9k | €9k | €9k | = |
| Legal reserve130 | €9k | €9k | €9k | €9k | €9k | = |
| Tax-exempt reserves132 | €23k | €23k | €23k | €23k | €23k | = |
| Distributable reserves133 | €750k | €1.00M | €1.25M | €1.25M | €1.25M | = |
| Profit (loss) carried forward14 | €436k | €411k | €468k | €1.05M | €1.83M | ▲ 73.6% |
| Investment grants15 | €210k | €197k | €166k | €218k | €205k | ▼ 5.8% |
| Amounts payable17/49 | €2.90M | €3.23M | €3.52M | €2.74M | €2.34M | ▼ 14.6% |
| Amounts payable after more than one year17 | €930k | €949k | €956k | €797k | €627k | ▼ 21.4% |
| Financial debts170/4 | €930k | €949k | €956k | €797k | €627k | ▼ 21.4% |
| Amounts payable within one year42/48 | €743k | €619k | €668k | €652k | €961k | ▲ 47.5% |
| Current portion of amounts payable after more than one year42 | €170k | €197k | €213k | €224k | €177k | ▼ 20.8% |
| Trade debts44 | €365k | €205k | €188k | €227k | €542k | ▲ 139% |
| Suppliers440/4 | €365k | €205k | €188k | €227k | €542k | ▲ 139% |
| Taxes, remuneration and social security45 | €120k | €133k | €162k | €200k | €194k | ▼ 3.2% |
| Taxes450/3 | €3k | €11k | €38k | €51k | €17k | ▼ 66.2% |
| Remuneration and social security454/9 | €118k | €123k | €124k | €150k | €177k | ▲ 18.0% |
| Other amounts payable47/48 | €88k | €83k | €105k | €1k | €49k | ▲ 4,542% |
| Accrued charges and deferred income492/3 | €1.23M | €1.66M | €1.89M | €1.29M | €756k | ▼ 41.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €111k | €225k | €308k | €584k | €814k | ▲ 39.4% |
| + Depreciation and write-downs630 | €97k | €156k | €256k | €312k | €364k | ▲ 16.6% |
| Operating cash flow (approximation) | €208k | €381k | €564k | €897k | €1.18M | ▲ 31.4% |
| Investment in fixed assets (approximation) | - | €-781k | €-532k | €-369k | €-318k | ▲ 13.8% |
| Change in cash | - | €-27k | €-62k | €121k | €784k | ▲ 548% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
29-07
State Gazette act
Resignation: Delphine Dessambre (director)Appointments: Tom Gray, Philip Marshall and Daniel Simon · Mandate compensation · Power of attorney12 facts ▸
State Gazette act
Resignation: Delphine Dessambre (director)
Appointments: Tom Gray, Philip Marshall and Daniel Simon · Mandate compensation · Power of attorney12 facts ▸
- General meeting, 05/06/2026
- Director resignation, Delphine Dessambre (director)
- Director appointment, Tom Gray (director)
- Director appointment, Philip Marshall (director)
- Mandate compensation, Tom Gray
- Mandate compensation, Philip Marshall
- Board meeting, 05/06/2026
- Director appointment, Daniel Simon (managing director)
- Power of attorney, Simon Morgan
- Power of attorney, Robert Rostas
- Power of attorney, Tom Gray
- Power-of-attorney revocation, tous les pouvoirs spéciaux, procurations et mandats précédemment octroyés
2025
31-12
Financial
Highest result since 2018net €814k ▲39.4%
Operating result €820k, net result €814k, both a record.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Equity above €2MEq €2.01M ▲16%
6 profitable years in a row build equity to €2.01M.
27-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 58 days late
2022
17-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 78 days late
2021
25-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 117 days late
2020
31-12
Financial
Weakest financial yearnet €27k ▼80.8%
Net result drops to €27k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity doublescurrent ratio 4.96
Current ratio from 2.42 to 4.96; short-term debt falls from €828k to €596k.
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 122 days late
Show earlier events
2019
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 92 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 60 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 8 acts read
About the unread acts
Of the 8 Belgian State Gazette acts we know for this company, 1 has been read. The other 7 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
under verification, last change in 2026
This board is reconstructed from a single act (26097974). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Daniel SIMON
CurrentManaging director · since 05-06-2026
Philip Marshall
CurrentDirector · since 05-06-2026
Tom Gray
CurrentDirector · since 05-06-2026
05-06-2026
Daniel SIMON: Appointed as Managing director
05-06-2026
Philip Marshall: Appointed as Director
05-06-2026
Tom Gray: Appointed as Director
05-06-2026
Delphine DESSAMBRE: Resigned as Director
Not every act has been read: a resignation may be missing here
7 of this company's 8 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Liège · 1 establishment unit since 2004
Ground area
3,938 m²
Building footprint
508 m²
Volume, LiDAR
2,695 m³
Parcel 62002C0005/00R003, Wallonia · tallest building 17.5 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
V2I
since 20042.138.663.225
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62002C0005/00R003 | Wallonia | 3,938 m² | 1 · 507 m² | 17.5 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.
Public money · subsidies and aid
Federal government
2025 · 1 entry · 125,600 EUR in total| Year | Department | Transactions | Amount |
|---|---|---|---|
| 2025 | Defensie | 1 | 125,600 EUR |
Budget allocations
Inkomensoverdracht R&D naar bedrijven
European research
2 projects · 688,775 EUR EU contributionProgrammes
Horizon 2020
Projects
Efficient Material Hybridization by Unconventional Layup and Forming of Metals and Composites for Fabrication of Multifunctional Structures
Closed-loop digital pipeline for a flexible and modular manufacturing of large components
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Of 11,571 companies in sector 71121 we hold annual accounts for 6,561. 1,695 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
Founded25-02-2004
Fiscal year end31-12
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
71209Other technical testing and analysis
Scores and ratios are computed by Checked and are not a credit decision.