VASIR
ActiveFrom the official registers: KBO 32 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
VASIR has been active since 1992 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €41,313 and a net result of €7,791, of which €10,322 non-recurring income. Equity is shrinking by about 10% per year across the filed financial years. Its solvency ranks better than 27% of 11,221 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Financials · financial year 2025, abbreviated format
Latest annual accounts filed
Annual accounts 2025
- Financial year ended
- 31-03-2025
- Filed on
- 30-10-2025
- Format
- abbreviated format
- Reference
- 2025-00562198
Turnover
≈ €140,000
Estimated: probably between €87,000 and €180,000
Total assets
€485,107▲ 1.8%
2024 · €476,589
Net result
€7,791
2024 · -€2,196
Working capital
-€33,563▲ 61.5%
2024 · -€87,272
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result recovers in 2025; 2025 is 120% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€16,749
2025
Net result€7,791
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€485,107
2025
Equity€41,313
2025
Debt€443,794
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€33,563
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)1.6%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency8.5%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.78
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)1.4
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€11,025-€6,852▼ 37.9%-€1,443-€19,271▼ 1,235%€14,165€7,609▼ 46.3%€16,749▲ 120%
Net result€652-€238within the sector's middle half▼ 63.5%-€5,940within the sector's middle half-€22,719below the sector's middle half▼ 282%€2,215within the sector's middle half-€2,196within the sector's middle half€7,791within the sector's middle half
Equity€61,924-€62,162within the sector's middle half▲ 0.4%€56,222within the sector's middle half▼ 9.6%€33,504within the sector's middle half▼ 40.4%€35,718within the sector's middle half▲ 6.6%€33,522below the sector's middle half▼ 6.1%€41,313within the sector's middle half▲ 23.2%
Total assets€492,916-€507,170within the sector's middle half▲ 2.9%€474,996within the sector's middle half▼ 6.3%€490,082within the sector's middle half▲ 3.2%€499,840within the sector's middle half▲ 2.0%€476,589below the sector's middle half▼ 4.7%€485,107below the sector's middle half▲ 1.8%
Debt€430,992-€445,008▲ 3.3%€418,773▼ 5.9%€456,578▲ 9.0%€464,122▲ 1.7%€443,067▼ 4.5%€443,794▲ 0.2%
Working capital-€89,148--€64,793within the sector's middle half▲ 27.3%-€152,008below the sector's middle half▼ 135%-€136,228below the sector's middle half▲ 10.4%-€97,185below the sector's middle half▲ 28.7%-€87,272within the sector's middle half▲ 10.2%-€33,563within the sector's middle half▲ 61.5%
Solvency12.6%-12.3%within the sector's middle half▼ 0.3pp11.8%within the sector's middle half▼ 0.4pp6.8%within the sector's middle half▼ 5.0pp7.1%within the sector's middle half▲ 0.3pp7.0%below the sector's middle half▼ 0.1pp8.5%within the sector's middle half▲ 1.5pp
Current ratio0.58-0.68within the sector's middle half▲ 0.100.31below the sector's middle half▼ 0.370.41below the sector's middle half▲ 0.100.54within the sector's middle half▲ 0.130.52within the sector's middle half▼ 0.020.78within the sector's middle half▲ 0.26
Return on assets (ROA)0.1%-0.0%within the sector's middle half▼ 0.1pp-1.3%within the sector's middle half▼ 1.3pp-4.6%below the sector's middle half▼ 3.4pp0.4%within the sector's middle half▲ 5.1pp-0.5%within the sector's middle half▼ 0.9pp1.6%within the sector's middle half▲ 2.1pp
Staff (FTE)0.7-0.6below the sector's middle half▼ 14.3%1▲ 66.7%0.9▼ 10.0%0.9within the sector's middle half1.4within the sector's middle half▲ 55.6%
above
within
below
the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €485,107
Fixed assets
€364,925 ▼ 4.4%
Current assets
€120,183 ▲ 26.4%
Equity and liabilities €485,107
Equity
€41,313 ▲ 23.2%
Debt
€443,794 ▲ 0.2%
Debt's share of the balance-sheet total falls from 93.0% to 91.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€31,250▲
2024 · €22,270
Cash flow
€22,291▲
2024 · €12,465
Debt to equity
10.74▼
2024 · 13.22
ROE
18.9%▲
2024 · -6.6%
Interest coverage
10.43▲
2024 · 7.54
Debt ≤ 1 year
€153,745▼
2024 · €182,322
Debt > 1 year
€289,159▲
2024 · €260,744
Income taxes
€5,963▼
2024 · €6,881
Staff costs
€32,480▼
2024 · €35,775
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €11,000 | - | - | €10,322 | - |
| Remuneration, social security and pensions62 | - | - | - | €36,371 | -€3,637 | €35,775 | €32,480 | ▼ 9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,857 | €4,035 | €5,327 | €13,560 | €13,416 | €14,661 | €14,500 | ▼ 1.1% |
| Other operating charges640/8 | - | - | - | €1,752 | €2,007 | €3,480 | €1,776 | ▼ 49.0% |
| Gross operating margin9900 | €37,747 | €27,887 | €40,477 | €32,412 | €25,952 | €61,525 | €65,506 | ▲ 6.5% |
| Operating profit (loss)9901 | €11,025 | €6,852 | -€1,443 | -€19,271 | €14,165 | €7,609 | €16,749 | ▲ 120% |
| Financial income75/76B | - | - | - | €171 | €3 | €31 | - | - |
| Recurring financial income75 | €1 | €36 | €0 | €171 | €3 | €31 | - | - |
| Financial charges65/66B | - | - | - | €3,618 | €8,219 | €2,955 | €2,995 | ▲ 1.3% |
| Recurring financial charges65 | €4,950 | €2,684 | €2,667 | €3,618 | €8,219 | €2,955 | €2,995 | ▲ 1.3% |
| Profit (loss) for the period before taxes9903 | €6,076 | €4,204 | -€4,110 | -€22,719 | €5,948 | €4,685 | €13,754 | ▲ 194% |
| Income taxes67/77 | €5,423 | €3,965 | €1,830 | - | €3,734 | €6,881 | €5,963 | ▼ 13.3% |
| Profit (loss) for the period9904 | €652 | €238 | -€5,940 | -€22,719 | €2,215 | -€2,196 | €7,791 | - |
| Profit (loss) for the period to be appropriated9905 | €652 | €238 | -€5,940 | -€22,719 | €2,215 | -€2,196 | €7,791 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €492,916 | €507,170 | €474,996 | €490,082 | €499,840 | €476,589 | €485,107 | ▲ 1.8% |
| Fixed assets21/28 | €368,877 | €367,499 | €406,865 | €394,335 | €384,652 | €381,538 | €364,925 | ▼ 4.4% |
| Tangible fixed assets22/27 | €19,298 | €17,920 | €57,335 | €44,805 | €35,122 | €32,008 | €21,327 | ▼ 33.4% |
| Land and buildings22 | - | - | - | €12,149 | €11,007 | €9,865 | €8,723 | ▼ 11.6% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | €1,014 | - |
| Furniture and vehicles24 | - | - | - | €32,656 | €24,115 | €22,143 | €11,591 | ▼ 47.7% |
| Financial fixed assets28 | €349,579 | €349,579 | €349,530 | €349,530 | €349,530 | €349,530 | €343,597 | ▼ 1.7% |
| Current assets29/58 | €124,038 | €139,671 | €68,130 | €95,747 | €115,188 | €95,051 | €120,183 | ▲ 26.4% |
| Amounts receivable within one year40/41 | €86,335 | €77,108 | €57,358 | €39,767 | €38,692 | €30,578 | €15,241 | ▼ 50.2% |
| Trade receivables40 | - | - | - | €39,767 | €38,692 | €30,578 | €15,241 | ▼ 50.2% |
| Cash at bank and in hand54/58 | €35,821 | €62,044 | €8,271 | €53,823 | €73,046 | €61,069 | €102,224 | ▲ 67.4% |
| Deferred charges and accrued income490/1 | - | - | - | €2,158 | €3,449 | €3,404 | €2,718 | ▼ 20.1% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €492,916 | €507,170 | €474,996 | €490,082 | €499,840 | €476,589 | €485,107 | ▲ 1.8% |
| Equity10/15 | €61,924 | €62,162 | €56,222 | €33,504 | €35,718 | €33,522 | €41,313 | ▲ 23.2% |
| Contributions10/11 | €148,736 | €148,736 | €148,736 | €148,736 | €148,736 | €148,736 | €148,736 | = |
| Capital10 | - | - | - | €148,736 | €148,736 | €148,736 | €148,736 | = |
| Issued capital100 | - | - | - | €148,736 | €148,736 | €148,736 | €148,736 | = |
| Profit (loss) carried forward14 | -€86,812 | -€86,574 | -€92,514 | -€115,233 | -€113,018 | -€115,214 | -€107,423 | ▲ 6.8% |
| Amounts payable17/49 | €430,992 | €445,008 | €418,773 | €456,578 | €464,122 | €443,067 | €443,794 | ▲ 0.2% |
| Amounts payable after more than one year17 | €217,805 | €240,544 | €198,635 | €224,604 | €249,263 | €260,744 | €289,159 | ▲ 10.9% |
| Financial debts170/4 | - | - | - | €26,202 | €15,120 | €4,547 | €2,646 | ▼ 41.8% |
| Other amounts payable178/9 | - | - | - | €198,401 | €234,143 | €256,197 | €286,513 | ▲ 11.8% |
| Amounts payable within one year42/48 | €213,186 | €204,464 | €220,139 | €231,975 | €212,373 | €182,322 | €153,745 | ▼ 15.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €10,938 | €11,121 | €10,573 | €1,901 | ▼ 82.0% |
| Trade debts44 | €7,015 | €5,628 | €10,979 | €25,594 | €10,761 | €9,949 | €16,031 | ▲ 61.1% |
| Suppliers440/4 | - | - | - | €25,594 | €10,761 | €9,949 | €16,031 | ▲ 61.1% |
| Taxes, remuneration and social security45 | - | - | - | €18,839 | €13,926 | €19,425 | €22,554 | ▲ 16.1% |
| Taxes450/3 | - | - | - | €9,573 | €13,926 | €14,624 | €16,854 | ▲ 15.2% |
| Remuneration and social security454/9 | - | - | - | €9,266 | - | €4,801 | €5,700 | ▲ 18.7% |
| Other amounts payable47/48 | - | - | - | €176,604 | €176,564 | €142,376 | €113,258 | ▼ 20.5% |
| Accrued charges and deferred income492/3 | - | - | - | - | €2,487 | - | €890 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €652 | €238 | -€5,940 | -€22,719 | €2,215 | -€2,196 | €7,791 | - |
| + Depreciation and write-downs630 | €5,857 | €4,035 | €5,327 | €13,560 | €13,416 | €14,661 | €14,500 | ▼ 1.1% |
| Operating cash flow (approximation) | €6,510 | €4,273 | -€613 | -€9,159 | €15,631 | €12,465 | €22,291 | ▲ 78.8% |
| Investment in fixed assets (approximation) | - | -€2,657 | -€44,693 | -€1,030 | -€3,733 | -€11,547 | €2,113 | - |
| Change in cash | - | €26,224 | -€53,774 | €45,552 | €19,224 | -€11,978 | €41,155 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 32 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2025 | abbreviated format | 30-10-2025 | 2025-00562198 | |
| 31-03-2024 | abbreviated format | 12-11-2024 | 2024-00600512 | |
| 31-03-2023 | micro format | 06-11-2023 | 2023-00505727 | |
| 31-03-2022 | micro format | 30-11-2022 | 2022-20527941 | |
| 31-03-2021 | micro format | 23-11-2021 | 2021-77900272 | |
| 31-03-2020 | micro format | 30-11-2020 | 2020-73300375 | |
| 31-03-2019 | micro format | 31-10-2019 | 2019-72400499 | |
| 31-03-2018 | micro format | 20-11-2018 | 2018-72500208 | |
| 31-03-2017 | abbreviated format | 27-11-2017 | 2017-70400102 | |
| 31-03-2016 | abbreviated format | 28-11-2016 | 2016-68600569 |
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Of the 11,697 active companies whose main activity is real estate agency activities (NACE 68310), figures are known for 7,111. 4,882 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.