VB PROJECTS
ActiveSummary
VB PROJECTS has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€51,918) and a net result of €31,066. Equity is shrinking by ~26.7% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+100
Solvency0=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.55 against 0.14 in 2023; short-term debt: 180.6% and cash: 34.4% of total assets), and equity is negative.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
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
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
-80.6%
Return on assets
48.2%
Age of the figures
21 mo
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 05-02-2026, 189 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
189 d late
2023
22 d late
2022
56 d late
2021
86 d late
2020
88 d late
2019
32 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 6 accounts on average 68 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
-€51,918▲ 37.4%
2023 · -€82,984
Total assets
€64,386▲ 341%
2023 · €14,603
Net result
€31,066
2023 · -€37,240
Working capital
-€52,597▲ 37.4%
2023 · -€83,999
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€5,013-€12,792▼ 155%-€16,152▼ 26.3%-€36,177▼ 124%€32,464
Net result-€5,958-€13,618▼ 129%-€16,959▼ 24.5%-€37,240▼ 120%€31,066
Equity-€15,167▲ 1.6%-€28,785▼ 89.8%-€45,744▼ 58.9%-€82,984▼ 81.4%-€51,918▲ 37.4%
Total assets€22,960▼ 63.6%€26,456▲ 15.2%€19,929▼ 24.7%€14,603▼ 26.7%€64,386▲ 341%
Debt€38,127▼ 51.4%€55,241▲ 44.9%€65,673▲ 18.9%€97,587▲ 48.6%€116,304▲ 19.2%
Working capital-€26,677▲ 1.2%-€32,925▼ 23.4%-€46,900▼ 42.4%-€83,999▼ 79.1%-€52,597▲ 37.4%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €32,464 after a loss of €36,177 in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €64,386
Fixed assets
€679 ▼ 33.1%
Current assets
€63,707 ▲ 369%
Key figures and ratios
EBITDA
€32,823▲
2023 · -€35,001
Cash flow
€31,425▲
2023 · -€36,064
Solvency
-80.6%▲
2023 · -568.3%
Current ratio
0.55▲
2023 · 0.14
Debt to equity
-2.24▼
2023 · -1.18
ROA
48.2%▲
2023 · -255.0%
Interest coverage
32.27▲
2023 · -48.28
Debt ≤ 1 year
€116,304▲
2023 · €97,587
Income taxes
€381▲
2023 · €345
Staff costs
€6,196▲
2023 · €2,400
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,798 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 91% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.5%
went bankrupt
5.3%
stopped otherwise
91%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.2% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 3,798 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €2,400 | €6,196 | ▲ 158% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,837 | €5,245 | €4,089 | €1,176 | €359 | ▼ 69.5% |
| Other operating charges640/8 | - | €1,147 | €2,260 | €1,943 | €1,252 | ▼ 35.6% |
| Gross operating margin9900 | €1,192 | -€6,400 | -€9,803 | -€30,658 | €40,271 | ▲ 231% |
| Operating profit (loss)9901 | -€5,013 | -€12,792 | -€16,152 | -€36,177 | €32,464 | ▲ 190% |
| Financial income75/76B | - | €38 | - | €7 | - | - |
| Recurring financial income75 | €20 | €38 | - | €7 | - | - |
| Financial charges65/66B | - | €864 | €807 | €725 | €1,017 | ▲ 40.3% |
| Recurring financial charges65 | €790 | €864 | €807 | €725 | €1,017 | ▲ 40.3% |
| Profit (loss) for the period before taxes9903 | -€5,783 | -€13,618 | -€16,959 | -€36,895 | €31,447 | ▲ 185% |
| Income taxes67/77 | €175 | - | - | €345 | €381 | ▲ 10.4% |
| Profit (loss) for the period9904 | -€5,958 | -€13,618 | -€16,959 | -€37,240 | €31,066 | ▲ 183% |
| Profit (loss) for the period to be appropriated9905 | -€5,958 | -€13,618 | -€16,959 | -€37,240 | €31,066 | ▲ 183% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €22,960 | €26,456 | €19,929 | €14,603 | €64,386 | ▲ 341% |
| Fixed assets21/28 | €11,510 | €6,265 | €2,176 | €1,015 | €679 | ▼ 33.1% |
| Tangible fixed assets22/27 | €11,110 | €5,865 | €1,776 | €600 | €241 | ▼ 59.8% |
| Plant, machinery and equipment23 | - | €953 | €430 | - | - | - |
| Furniture and vehicles24 | - | €1,770 | - | - | - | - |
| Leasing and similar rights25 | - | €3,142 | - | - | - | - |
| Other tangible fixed assets26 | - | - | €1,346 | €600 | €241 | ▼ 59.8% |
| Financial fixed assets28 | €400 | €400 | €400 | €415 | €438 | ▲ 5.5% |
| Current assets29/58 | €11,450 | €20,191 | €17,753 | €13,588 | €63,707 | ▲ 369% |
| Stocks and contracts in progress3 | €5,074 | €6,563 | €6,563 | - | - | - |
| Stocks30/36 | - | €6,563 | €6,563 | - | - | - |
| Amounts receivable within one year40/41 | €5,834 | €13,551 | €11,190 | €9,147 | €41,528 | ▲ 354% |
| Trade receivables40 | - | €10,768 | €9,869 | €6,740 | €41,470 | ▲ 515% |
| Other amounts receivable41 | - | €2,783 | €1,321 | €2,407 | €58 | ▼ 97.6% |
| Cash at bank and in hand54/58 | - | €77 | - | €3,800 | €22,175 | ▲ 484% |
| Deferred charges and accrued income490/1 | - | - | - | €641 | €4 | ▼ 99.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €22,960 | €26,456 | €19,929 | €14,603 | €64,386 | ▲ 341% |
| Equity10/15 | -€15,167 | -€28,785 | -€45,744 | -€82,984 | -€51,918 | ▲ 37.4% |
| Contributions10/11 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Outside capital11 | - | €18,592 | - | - | - | - |
| Other1109/19 | - | €18,592 | - | - | - | - |
| Reserves13 | €2,953 | €2,953 | €2,953 | €2,953 | €2,953 | = |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Distributable reserves133 | - | €1,094 | €1,094 | €1,094 | €1,094 | = |
| Profit (loss) carried forward14 | -€36,712 | -€50,330 | -€67,289 | -€104,529 | -€73,463 | ▲ 29.7% |
| Amounts payable17/49 | €38,127 | €55,241 | €65,673 | €97,587 | €116,304 | ▲ 19.2% |
| Amounts payable after more than one year17 | - | €2,125 | €1,020 | - | - | - |
| Financial debts170/4 | - | €2,125 | €1,020 | - | - | - |
| Amounts payable within one year42/48 | €38,127 | €53,116 | €64,653 | €97,587 | €116,304 | ▲ 19.2% |
| Current portion of amounts payable after more than one year42 | - | €1,106 | €1,106 | €1,020 | - | - |
| Financial debts43 | - | €2,203 | - | €4,813 | - | - |
| Credit institutions430/8 | - | €2,203 | - | €4,813 | - | - |
| Trade debts44 | €5,209 | €20,327 | €14,603 | €4,488 | €20,673 | ▲ 361% |
| Suppliers440/4 | - | €20,327 | €14,603 | €4,488 | €20,673 | ▲ 361% |
| Taxes, remuneration and social security45 | - | €175 | €16,375 | €619 | €11,612 | ▲ 1,776% |
| Taxes450/3 | - | €175 | €175 | - | €11,564 | - |
| Remuneration and social security454/9 | - | - | €16,200 | €619 | €48 | ▼ 92.2% |
| Other amounts payable47/48 | - | €29,305 | €32,569 | €86,647 | €84,019 | ▼ 3.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,958 | -€13,618 | -€16,959 | -€37,240 | €31,066 | ▲ 183% |
| + Depreciation and write-downs630 | €4,837 | €5,245 | €4,089 | €1,176 | €359 | ▼ 69.5% |
| Operating cash flow (approximation) | -€1,121 | -€8,373 | -€12,870 | -€36,064 | €31,425 | ▲ 187% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€15 | -€23 | ▼ 53.3% |
| Change in cash | - | - | - | - | €18,375 | - |
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
05-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 189 days late
2024
31-12
Financial
Back to profitnet €31,066
Net result €31,066 after 4 loss-making years.
22-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 22 days late
2023
31-12
Financial
Weakest financial yearnet -€37,240
Net result drops to -€37,240, the lowest in the series; recovery starts the following year.
25-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 56 days late
2022
25-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 86 days late
2021
27-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 88 days late
2020
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €13,470
Net result €13,470 after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 29 days late
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Zaventem · 1 establishment unit since 1995
Ground area
1,042 m²
Building footprint
171 m²
Volume, LiDAR
982 m³
Parcel 23094D0288/00Y006, Flanders · tallest building 11.3 m, ±1 floor. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Tuinwijkstraat 45, 1930 Zaventem
since 19952.069.632.283
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23094D0288/00Y006 | Flanders | 1,041 m² | 1 · 171 m² | 11.3 m · 1 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.
Recognitions · licences · registrations
Dual-learning approval
3 live approvals · 1 endedBinnenschrijnwerk en interieur duaal (so)
Interieurbouwer duaal (so)
Medewerker hout duaal (so)
Show 1 ended approval
Interieurbouwer (so)
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded10-11-1994
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0453776490
Also
9925:BE0453776490
Registered
30-10-2023
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.