V89
ActiveSummary
The computed 12-month bankruptcy probability of V89 is 2.5% (moderate). The 2024 annual accounts show negative equity (-€51,373) and a net result of €72,685. Equity remains stable across the filed fiscal years (±0.9% per year). Its solvency ranks better than 7% of 3557 sector peers (fiscal year 2024). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability72▲+18
Solvency21▲+5
Growth48▼-10
Track record100
Bankruptcy probability, 12 months
2.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 2.07 against 1.64 in 2023; short-term debt: 11.8% and cash: 0.6% of total assets), but equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-3.9%
Return on assets
5.5%
Age of the figures
21 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 7% of 3557 sector peers (2024).
NBB · sector comparisonPosition among 3557 sector peers
Solvency
better than 7%
← weakest
strongest →
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 19-02-2026, 203 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
203 d late
2023
568 d late
2022
333 d late
2021
129 d late
2020
94 d late
2019
138 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 244 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
Turnover
€215,694▼ 1.3%
2023 · €218,544
EBIT margin
57.4%▲ 50.5pp
2023 · 6.9%
Net result
€72,685
2023 · -€33,540
Working capital
€166,518▲ 36.3%
2023 · €122,151
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
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 43, Specialised construction 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).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€218,544€215,694▼ 1.3%
Operating result€32,619€27,355▼ 16.1%€90,037▲ 229%€15,074▼ 83.3%€123,777▲ 721%
Net result-€6,261below the sector's middle half▲ 92.7%-€14,407below the sector's middle half▼ 130%€50,035within the sector's middle half-€33,540below the sector's middle half€72,685within the sector's middle half
EBIT margin6.9%57.4%▲ 50.5pp
Equity-€126,147below the sector's middle half▼ 5.2%-€140,554below the sector's middle half▼ 11.4%-€90,519below the sector's middle half▲ 35.6%-€124,058below the sector's middle half▼ 37.1%-€51,373below the sector's middle half▲ 58.6%
Total assets€1.6mabove the sector's middle half▲ 24.0%€1.5mabove the sector's middle half▼ 9.0%€1.4mwithin the sector's middle half▼ 1.9%€1.4mwithin the sector's middle half▼ 4.6%€1.3mwithin the sector's middle half▼ 4.4%
Debt€1.8m▲ 22.4%€1.6m▼ 7.6%€1.5m▼ 4.9%€1.5m▼ 2.1%€1.4m▼ 8.9%
Working capital€122,046above the sector's middle half€162,215above the sector's middle half▲ 32.9%€167,376within the sector's middle half▲ 3.2%€122,151within the sector's middle half▼ 27.0%€166,518within the sector's middle half▲ 36.3%
Solvency-7.8%below the sector's middle half▲ 1.4pp-9.5%below the sector's middle half▼ 1.7pp-6.2%below the sector's middle half▲ 3.3pp-9.0%below the sector's middle half▼ 2.7pp-3.9%below the sector's middle half▲ 5.1pp
Current ratio1.84within the sector's middle half▲ 1.712.47within the sector's middle half▲ 0.632.15within the sector's middle half▼ 0.321.64within the sector's middle half▼ 0.512.07within the sector's middle half▲ 0.43
Return on assets (ROA)-0.4%below the sector's middle half▲ 6.2pp-1.0%below the sector's middle half▼ 0.6pp3.5%within the sector's middle half▲ 4.4pp-2.4%below the sector's middle half▼ 5.9pp5.5%within the sector's middle half▲ 7.9pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 721% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.3m
Fixed assets
€999,922 ▼ 6.6%
Current assets
€322,222 ▲ 3.2%
Equity and liabilities
Equity-€51,373
Debt€1.4m
Equity is negative: debt (€1.4m) exceeds the balance-sheet total (€1.3m).
Key figures and ratios
EBITDA
€196,371▲
2023 · €88,723
Cash flow
€145,279▲
2023 · €40,110
Interest coverage
3.84▲
2023 · 1.83
Debt ≤ 1 year
€155,703▼
2023 · €190,119
Debt > 1 year
€1.2m▼
2023 · €1.3m
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 178 companies that looked in July 2024 the way this one looks now, 6.2% went bankrupt within 24 months and 90% are still going.
- Small
- 5 to 10 years old
- negative equity
- a profit of 5% of the balance sheet or more
6.2%
went bankrupt
2.8%
stopped otherwise
90%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 178 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | €218,544 | €215,694 | ▼ 1.3% |
| Non-recurring operating income76A | - | - | - | €613 | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €41,038 | €18,785 | ▼ 54.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €68,554 | €71,705 | €72,524 | €73,649 | €72,594 | ▼ 1.4% |
| Other operating charges640/8 | - | €5,641 | €12,768 | €46,651 | €538 | ▼ 98.8% |
| Non-recurring operating charges66A | - | - | - | €42,745 | - | - |
| Gross operating margin9900 | €102,081 | €104,700 | €175,330 | €178,119 | €196,909 | ▲ 10.5% |
| Operating profit (loss)9901 | €32,619 | €27,355 | €90,037 | €15,074 | €123,777 | ▲ 721% |
| Financial income75/76B | - | €0 | €1,220 | - | €6 | - |
| Recurring financial income75 | €207 | €0 | €1,220 | - | €6 | - |
| Financial charges65/66B | - | €41,670 | €41,089 | €48,614 | €51,098 | ▲ 5.1% |
| Recurring financial charges65 | €39,037 | €41,670 | €41,089 | €48,614 | €51,098 | ▲ 5.1% |
| Profit (loss) for the period before taxes9903 | -€6,211 | -€14,316 | €50,168 | -€33,540 | €72,685 | ▲ 317% |
| Income taxes67/77 | €49 | €91 | €133 | - | - | - |
| Profit (loss) for the period9904 | -€6,261 | -€14,407 | €50,035 | -€33,540 | €72,685 | ▲ 317% |
| Profit (loss) for the period to be appropriated9905 | -€6,261 | -€14,407 | €50,035 | -€33,540 | €72,685 | ▲ 317% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.6m | €1.5m | €1.4m | €1.4m | €1.3m | ▼ 4.4% |
| Formation expenses20 | €592 | €296 | - | - | - | - |
| Fixed assets21/28 | €1.4m | €1.2m | €1.1m | €1.1m | €999,922 | ▼ 6.6% |
| Tangible fixed assets22/27 | €1.4m | €1.2m | €1.1m | €1.1m | €999,922 | ▼ 6.6% |
| Land and buildings22 | - | €1.2m | €1.1m | €1.1m | €993,966 | ▼ 6.5% |
| Plant, machinery and equipment23 | - | - | €504 | €6,180 | €4,821 | ▼ 22.0% |
| Furniture and vehicles24 | - | €4,739 | €4,333 | €1,693 | €1,135 | ▼ 33.0% |
| Current assets29/58 | €267,773 | €272,478 | €312,725 | €312,270 | €322,222 | ▲ 3.2% |
| Amounts receivable after more than one year29 | - | €0 | - | - | - | - |
| Other amounts receivable291 | - | €0 | - | - | - | - |
| Amounts receivable within one year40/41 | €36,921 | €271,696 | €308,387 | €305,635 | €314,668 | ▲ 3.0% |
| Trade receivables40 | - | €7,260 | €44,217 | €76,836 | €65,988 | ▼ 14.1% |
| Other amounts receivable41 | - | €264,436 | €264,171 | €228,799 | €248,680 | ▲ 8.7% |
| Cash at bank and in hand54/58 | €145,007 | €135 | €4,093 | €5,582 | €7,553 | ▲ 35.3% |
| Deferred charges and accrued income490/1 | - | €648 | €245 | €1,053 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.6m | €1.5m | €1.4m | €1.4m | €1.3m | ▼ 4.4% |
| Equity10/15 | -€126,147 | -€140,554 | -€90,519 | -€124,058 | -€51,373 | ▲ 58.6% |
| Contributions10/11 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Profit (loss) carried forward14 | -€146,147 | -€160,554 | -€110,519 | -€144,058 | -€71,373 | ▲ 50.5% |
| Amounts payable17/49 | €1.8m | €1.6m | €1.5m | €1.5m | €1.4m | ▼ 8.9% |
| Amounts payable after more than one year17 | €1.6m | €1.5m | €1.4m | €1.3m | €1.2m | ▼ 7.5% |
| Financial debts170/4 | - | €1.5m | €1.4m | €1.3m | €1.2m | ▼ 7.5% |
| Amounts payable within one year42/48 | €145,727 | €110,263 | €145,350 | €190,119 | €155,703 | ▼ 18.1% |
| Current portion of amounts payable after more than one year42 | - | €97,129 | €113,857 | €95,360 | €99,015 | ▲ 3.8% |
| Trade debts44 | €13,325 | €2,103 | €26,130 | €93,744 | €55,302 | ▼ 41.0% |
| Suppliers440/4 | - | €2,103 | €26,130 | €93,744 | €55,302 | ▼ 41.0% |
| Taxes, remuneration and social security45 | - | €121 | €5,363 | €133 | €133 | = |
| Taxes450/3 | - | €121 | €5,363 | €133 | €133 | = |
| Other amounts payable47/48 | - | €10,910 | - | €882 | €1,253 | ▲ 42.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6,261 | -€14,407 | €50,035 | -€33,540 | €72,685 | ▲ 317% |
| + Depreciation and write-downs630 | €68,554 | €71,705 | €72,524 | €73,649 | €72,594 | ▼ 1.4% |
| Operating cash flow (approximation) | €62,294 | €57,299 | €122,559 | €40,110 | €145,279 | ▲ 262% |
| Investment in fixed assets (approximation) | - | €79,704 | -€3,838 | -€7,904 | -€1,896 | ▲ 76.0% |
| Change in cash | - | -€144,872 | €3,958 | €1,489 | €1,971 | ▲ 32.3% |
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
2026
19-02
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 203 days late
19-02
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 568 days late
2024
31-12
Financial
Back to profitnet €72,685
Net result €72,685 after one loss-making year.
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 333 days late
2022
31-12
Financial
Back to profitnet €50,035
Net result €50,035 after 4 loss-making years.
07-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 129 days late
2021
02-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 94 days late
2020
31-12
Financial
Liquidity times 14current ratio 1.84
Current ratio from 0.13 to 1.84; short-term debt falls from €405,005 to €145,727.
16-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 138 days late
2019
31-12
Financial
Weakest financial yearnet -€86,148
Net result drops to -€86,148, the lowest in the series; recovery starts the following year.
14-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 75 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
No directors read yet: 0 of 3 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Elsene · 1 establishment unit since 2018
Ground area
986 m²
Building footprint
779 m²
Volume, LiDAR
7,918 m³
2 parcels, Brussels · tallest building 21.6 m, ±6 floors. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
V89
since 20182.276.466.571
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21444B0040/00N008 | Brussels | 709 m² | 1 · 639 m² | 19.8 m · 2 fl. |
| 21442A0083/00Z000 | Brussels | 277 m² | 1 · 140 m² | 21.6 m · 6 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 15,518 companies in this sector we hold annual accounts for 7,427. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded13-04-2018
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
68110Buying and selling of own real estate
E-invoicing
Reachable via Peppol
Peppol ID
0208:0694733992
Registered
17-07-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.