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VBNetwork

Active
Private limited companyfounded 20242 yrs activeTeniersstraat(David) 65, 1800 Vilvoorde, BelgiumKBO/BCE: BE 1005.098.756
Summary

The computed 12-month bankruptcy probability of VBNetwork is 2.4% (moderate). The 2025 annual accounts show equity of €32,023 and a net result of €19,948. Its solvency ranks better than 71% of 199 sector peers (fiscal year 2025). The company has been active since 2024 and the Belgian State Gazette contains no insolvency or warning signals.

Checked score

Score 2025
Axes · tick = 2024
Profitability100=
Solvency95▲+34
Growth78
Track record82
Bankruptcy probability, 12 months
2.4% Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity ample (current ratio 2.7 against 1.44 in 2024; short-term debt: 30.3% and cash: 10.6% of total assets), and 30.3% of the assets are financed with debt.
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Signals

Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Young company
A young company has little track record yet and statistically fails more often than an established one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 2 years 0 10 y
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 27
Relative position
BE, all sectors
reference
Manufacture of electrical equipment (NACE 27)
about 104% more 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 2025
Solvency, return and age of the figures
Solvency
69.7%
Return on assets
43.4%
Age of the figures
9 mo
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 · 2 filings
Deviation from the deadline
2025
31 d late
2024
57 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 2 accounts on average 44 days after the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 37% of the sector filed late.

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 months
Position in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

VBNetwork was incorporated on 23 January 2024 as a Private limited company.1 The registered office was moved to Vilvoorde in 2026.2 Since 2026, THARSIS, Elodie Stéphanie has served as non-statutory director of the company.2

  1. 1Crossroads Bank for Enterprises
  2. 2Belgian State Gazette, 09-09-2026

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Financials · fiscal year 2025, micro schema

Equity
€32,023▲ 165%
2024 · €12,074
Total assets
€45,956▲ 35.7%
2024 · €33,871
Net result
€19,948▲ 108%
2024 · €9,574
Working capital
€23,752▲ 148%
2024 · €9,580
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 27, Manufacture of electrical equipment, each year against the same schema; no band under 30 filings. Dashed line: the median.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20242025
Operating result€12,528-€25,783▲ 106%
Net result€9,574within the sector's middle half-€19,948within the sector's middle half▲ 108%
Equity€12,074below the sector's middle half-€32,023within the sector's middle half▲ 165%
Total assets€33,871below the sector's middle half-€45,956below the sector's middle half▲ 35.7%
Debt€21,797-€13,933▼ 36.1%
Working capital€9,580within the sector's middle half-€23,752within the sector's middle half▲ 148%
Solvency35.6%within the sector's middle half-69.7%within the sector's middle half▲ 34.0pp
Current ratio1.44within the sector's middle half-2.70within the sector's middle half▲ 1.27
Return on assets (ROA)28.3%above the sector's middle half-43.4%above the sector's middle half▲ 15.1pp
above within below the middle half (P25 to P75) of NACE 27, Manufacture of electrical equipment, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
€0€10,000€20,000€30,000Operating result 2024: €12,528€12,528Net result 2024: €9,574€9,574Operating result 2025: €25,783€25,783Net result 2025: €19,948€19,94820242025€0€10,000€20,000€30,000Operating result 2024: €12,528€12,500Net result 2024: €9,574€9,570Operating result 2025: €25,783€25,800Net result 2025: €19,948€19,90020242025
The operating result rises in 2025; 2025 is 106% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €45,956
Fixed assets €8,270 ▲ 232%
Current assets €37,685 ▲ 20.1%
Equity and liabilities €45,956
Equity €32,023 ▲ 165%
Debt €13,933 ▼ 36.1%
Debt's share of the balance-sheet total falls from 64.4% to 30.3%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€28,029▲
2024 · €13,266
Cash flow
€22,195▲
2024 · €10,312
Debt to equity
0.44▼
2024 · 1.81
ROE
62.3%▼
2024 · 79.3%
Interest coverage
108.20▼
2024 · 117.81
Debt ≤ 1 year
€13,933▼
2024 · €21,797
Income taxes
€5,640▲
2024 · €2,841
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 39,276 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.

  • Micro
  • 2 to 5 years old
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more
1.6% went bankrupt
2.2% stopped otherwise
96% still going

A further 0.5% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a higher bankruptcy probability: 2.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.

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%.

The companies in ten equal groups, from lowest to highest expected share.
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 39,276 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 36 lines
Balance sheet Code20242025
Assets
Total assets20/58€33,871€45,956▲
Fixed assets21/28€2,494€8,270▲
Tangible fixed assets22/27€2,494€8,270▲
Plant, machinery and equipment23€2,090€4,968▲
Furniture and vehicles24€404€3,302▲
Current assets29/58€31,377€37,685▲
Amounts receivable within one year40/41€29,314€31,446▲
Trade receivables40€29,314€25,453▼
Other amounts receivable41-€5,993
Cash at bank and in hand54/58€464€4,889▲
Deferred charges and accrued income490/1€1,599€1,351▼
Equity and liabilities
Total equity and liabilities10/49€33,871€45,956▲
Equity10/15€12,074€32,023▲
Contributions10/11€2,500€2,500=
Profit (loss) carried forward14€9,574€29,523▲
Amounts payable17/49€21,797€13,933▼
Amounts payable within one year42/48€21,797€13,933▼
Trade debts44€10,002€1,804▼
Suppliers440/4€10,002€1,804▼
Taxes, remuneration and social security45€11,715€12,129▲
Taxes450/3€11,715€12,129▲
Other amounts payable47/48€80€0▼
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€738€2,246▲
Other operating charges640/8-€63
Gross operating margin9900€13,266€28,092▲
Operating profit (loss)9901€12,528€25,783▲
Financial income75/76B-€64
Recurring financial income75-€64
Financial charges65/66B€113€259▲
Recurring financial charges65€113€259▲
Profit (loss) for the period before taxes9903€12,415€25,588▲
Income taxes67/77€2,841€5,640▲
Profit (loss) for the period9904€9,574€19,948▲
Profit (loss) for the period to be appropriated9905€9,574€19,948▲
Appropriation of the result
Profit (loss) to be appropriated9906€9,574€29,523▲
Profit (loss) brought forward from the previous period14P-€9,574

The notes to these accounts (17 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€738€2,246▲ 204%
Other operating charges640/8-€63-
Gross operating margin9900€13,266€28,092▲ 112%
Operating profit (loss)9901€12,528€25,783▲ 106%
Financial income75/76B-€64-
Recurring financial income75-€64-
Financial charges65/66B€113€259▲ 130%
Recurring financial charges65€113€259▲ 130%
Profit (loss) for the period before taxes9903€12,415€25,588▲ 106%
Income taxes67/77€2,841€5,640▲ 98.5%
Profit (loss) for the period9904€9,574€19,948▲ 108%
Profit (loss) for the period to be appropriated9905€9,574€19,948▲ 108%
Line20242025Change
Assets
Total assets20/58€33,871€45,956▲ 35.7%
Fixed assets21/28€2,494€8,270▲ 232%
Tangible fixed assets22/27€2,494€8,270▲ 232%
Plant, machinery and equipment23€2,090€4,968▲ 138%
Furniture and vehicles24€404€3,302▲ 716%
Current assets29/58€31,377€37,685▲ 20.1%
Amounts receivable within one year40/41€29,314€31,446▲ 7.3%
Trade receivables40€29,314€25,453▼ 13.2%
Other amounts receivable41-€5,993-
Cash at bank and in hand54/58€464€4,889▲ 953%
Deferred charges and accrued income490/1€1,599€1,351▼ 15.5%
Equity and liabilities
Total equity and liabilities10/49€33,871€45,956▲ 35.7%
Equity10/15€12,074€32,023▲ 165%
Contributions10/11€2,500€2,500=
Profit (loss) carried forward14€9,574€29,523▲ 208%
Amounts payable17/49€21,797€13,933▼ 36.1%
Amounts payable within one year42/48€21,797€13,933▼ 36.1%
Trade debts44€10,002€1,804▼ 82.0%
Suppliers440/4€10,002€1,804▼ 82.0%
Taxes, remuneration and social security45€11,715€12,129▲ 3.5%
Taxes450/3€11,715€12,129▲ 3.5%
Other amounts payable47/48€80€0▼ 100%
Line20242025Change
Profit (loss) for the period9904€9,574€19,948▲ 108%
+ Depreciation and write-downs630€738€2,246▲ 204%
Operating cash flow (approximation)€10,312€22,195▲ 115%
Investment in fixed assets (approximation)--€8,022-
Change in cash-€4,425-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
09-09
State Gazette act Appointment: THARSIS, Elodie Stéphanie (non-statutory director)
Registered-office move · Purpose change · Statutes amendment8 facts ▸
  • General meeting, 03-09-2026
  • Registered-office move, 1800 Vilvoorde, David Teniersstraat 65
  • Other statement, verslag van de bestuurder, voorzitter vrijgesteld van voorlezing
  • Purpose change
  • Statutes amendment, Artikel 3
  • Power of attorney
  • Director appointment, THARSIS, Elodie Stéphanie (non-statutory director)
  • Other statement, stemming, unanimiteit van stemmen
31-08
NBB filing Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
26-09
NBB filing Annual accounts filed
fiscal year 2024 · micro schema · 57 days late
State Gazette actNBB filing
1 of 2 acts read
About the unread acts

Of the 2 Belgian State Gazette acts we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.

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Directors · office · real estate

Directors
1 director, last change in 2026
THARSIS, Elodie Stéphanie
Non-statutory director · since 09-09-2026
Current
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ. See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
1 of this company's 2 Belgian State Gazette acts has 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, Vilvoorde · 1 establishment unit since 2024
seat establishment The establishment unit on the map
Ground area
1,021 m²
Building footprint
299 m²
Volume, LiDAR
1,723 m³
2 parcels, Flanders · tallest building 10.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
VBNetwork
Esdoornplein 13, 2800 MechelenManufacture of chemicals and chemical products
since 20242.355.114.765
2 parcels
Flanders 2 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
23645C0280/00E002 Flanders 820 m² 1 · 142 m² 10.8 m · 2 fl.
12403E0427/00Z000 Flanders 200 m² 1 · 157 m² 8.3 m · 1 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.

Mandate history

1 person since 2026, 1 in office
Show
  • Board
Mandates per person, with start and end dates
Name Functions and periods
THARSIS, Elodie Stéphanie
  • Non-statutory director, from 09-09-2026 to date
See the board, name and seat on a given date →

Structure & network

Connections & network

1 current director
Depth

The network starts from this company’s directors. Other companies they run appear here as nodes.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, scroll to zoom.

Similar companies · same sector, comparable size

Of 142 companies in sector 27900 we hold annual accounts for 103. 45 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification
Legal formPrivate limited company
Founded23-01-2024
Fiscal year end31-12
Activities, NACEBEL 2025
27900Manufacture of electrical equipment
27510Manufacture of electrical equipment
43211General electrical installation work
62100Computer programming
71121Engineering and related technical consultancy, excluding land surveyors
74112Other professional, scientific and technical activities
E-invoicing
Reachable via Peppol
Peppol ID 0208:1005098756
Also 9925:BE1005098756
Registered 31-01-2024

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 28 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.