Equity
€48,641 from €173,188 in 2023
Equity fell by 72% in 2 years.
VASA DEVELOPMENT
Lifetime
7 annual accounts with figures on one time axispeak €280,273 (2022)
-€15,603▲ €4,144
lowest -€70,073 (2024)
-€54,473▲ €15,600
peak €173,188 (2023)
€48,641▼ 52.8%
€625,501▲ 31.3%
Board2 names since 2022
2 directorsVan Saet Guy and 1 other
Documentsfilings and deeds
25-06-202636 days before the deadline
2025micro format
Gross margin from -€19,747 to -€15,603Loss of €54,473Equity from €103,115 to €48,641Debts from €476,261 to €625,501
Key points
from the 2025 annual accountsLosses
-€124,546 in two years
The 2024 and 2025 financial years closed with a loss. 2024 was the heaviest.
Debts
€625,501 93% of the balance sheet
Financial debts 86%Suppliers 1%Taxes and wages 0%Other 12%
Of this, €563,167 falls due within a year.
Turnover not published (micro format)
Checked score
53
Fair
Financially stronger than 15% of micro companies in real estate (NACE 68)
Probability in this band: 1.5% to 4.2%
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59.
Bankruptcy probability within 12 months
0.9% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,625 companies (NACE 68, micro).
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024lowest value
02-2025: 0.1%● unchanged vs 01-2025lowest value
03-2025: 0.1%● unchanged vs 02-2025lowest value
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.5%▲ +0.4 percentage points vs 04-2025
06-2025: 0.5%● unchanged vs 05-2025
07-2025: 0.5%● unchanged vs 06-2025
08-2025: 0.5%● unchanged vs 07-2025
09-2025: 0.5%● unchanged vs 08-2025
10-2025: 0.5%● unchanged vs 09-2025
11-2025: 0.5%● unchanged vs 10-2025
12-2025: 0.5%● unchanged vs 11-2025
01-2026: 0.5%● unchanged vs 12-2025
02-2026: 0.5%● unchanged vs 01-2026
03-2026: 0.5%● unchanged vs 02-2026
04-2026: 0.6%▲ +0.1 percentage points vs 03-2026
05-2026: 0.6%● unchanged vs 04-2026
06-2026: 0.5%▼ -0.1 percentage points vs 05-2026
07-2026: 0.9%▲ +0.4 percentage points vs 06-2026highest value
08-2026: 0.9%● unchanged vs 07-2026highest value
09-2026: 0.9%● unchanged vs 08-2026
10-2026: 0.9%● unchanged vs 09-2026
11-2026: 0.9%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: a net loss of at least half of total assets or of the equity at the start of the financial year
Liquidity: current ratio 0.99
Loss of €54,473, the second in a row (financial year 2025)
lowers risk
Size: total assets €674,142
Sector: Real estate activities (NACE 68)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 28% of them on solvency, 10% on liquidity, 12% on profitability and 11% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 819 companies had the same profile as VASA DEVELOPMENT has now. Each dot stands for 3 companies, two years later.
94.7%
were still trading
3.2%
stopped another way
1.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of VASA DEVELOPMENT itself: 0.9% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 819 companies, not a prediction for VASA DEVELOPMENT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €2,500 on 30-day terms, only on tighter conditions
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is insufficient, with a current ratio of 0.99 (1.1 in 2024), below 1. Short-term debt is 83.5% of total assets. 92.8% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€54,473
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-06-2026, 36 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
36 days early
2024
98 days early
2023
35 days early
2022
17 days late
2021
11 days late
2020
1 day late
2019
32 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 25 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 26 June (3 of the last 4 accounts filed within 52 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0695439520
Appointments: VAN SAET Vito (director) and Van Saet Guy (director)
General meeting of 22-06-2022 · Gazette deed
Incorporation
published on 27-04-2018 · Gazette deed
First establishment
G. Van der Lindenlaan 2, Duffel
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| VASA DEVELOPMENT Duffel | €674,142 | -€15,603 | 7.2% | - |
| Montis Development Sint-Katelijne-Waver | €740,357 | -€100 | 11.0% | - |
| CONIFER GROUP Antwerp | €590,254 | -€36,405 | 3.5% | - |
| Live Smart Projectontwikkeling Antwerp | €782,646 | -€41,559 | 15.1% | - |
| ComTIS Energy Geel | €809,714 | -€259,567 | 56.9% | - |
| GRAND YARD Antwerp | €724,800 | -€702,445 | -806.2% | 0 |
| ELLU Invest Herentals | €530,853 | -€22,557 | 3.6% | - |
These companies have the same main activity as VASA DEVELOPMENT: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €531,000 and €810,000, founded between 2017 and 2019.
Official details
Source: KBO- Status
- Active since 25-04-2018Normal situation
- Activity
- Development of residential building projectsNACE 68121and 1 other
- Establishment unit
- 2.276.195.5652570 Duffel, since 25-04-2018
- Financial year end
- 31 December
- Peppol
- Reachable since 30-09-2025
Annual accounts 2025
- €674,142▲ 16.4%
- Filing
- Filed on 25-06-2026, 36 days before the end of the filing period
Insights on VASA DEVELOPMENT
VASA DEVELOPMENT files the micro format. That format states no turnover. The gross margin fell from -€11,775 in 2019 to -€15,603 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about VASA DEVELOPMENT
- What is the company number of VASA DEVELOPMENT?
- The company number of VASA DEVELOPMENT is 0695.439.520. The VAT number is the same number with BE in front: BE 0695.439.520.
- Where is VASA DEVELOPMENT based?
- The registered office is at G. Van der Lindenlaan 2, 2570 Duffel.Company details
- What does VASA DEVELOPMENT do?
- According to the KBO register, the main activity is development of residential building projects (NACE 68121).
- What is the legal form of VASA DEVELOPMENT?
- VASA DEVELOPMENT is a private limited company (BV).
- When was VASA DEVELOPMENT founded?
- VASA DEVELOPMENT was founded on 25-04-2018.
- Is VASA DEVELOPMENT still active?
- Yes, VASA DEVELOPMENT is an active enterprise in the KBO register.
- What is the turnover of VASA DEVELOPMENT?
- The annual accounts for financial year 2025 state no turnover. The micro format does not require it. In financial year 2024 turnover was €1,162.Financials
- Is VASA DEVELOPMENT profitable?
- In financial year 2025, VASA DEVELOPMENT made a loss of €54,473.
- Where can I find the annual accounts of VASA DEVELOPMENT?
- VASA DEVELOPMENT filed 7 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of VASA DEVELOPMENT due?
- VASA DEVELOPMENT must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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