VBXL
ActiveSummary
VBXL has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-33k) and a net result of €-954. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability60▼-6
Solvency0=
Growth32=
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 0.04 against 0.2 in 2024; short-term debt: 330.3% and cash: 0.6% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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 2025Solvency, return and age of the figures
Solvency
-230.3%
Return on assets
-6.7%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €-33k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 06-08-2026, 6 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 · 7 filingsDeviation from the deadline
2025
6 d late
2024
29 d late
2023
99 d late
2022
88 d late
2021
379 d late
2020
153 d late
2019
35 d late
← before the deadline
after the deadline →
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 monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-33k▼ 3.0%
2024 · €-32k
2019: €7khighest in 7 years
2020: €5k▼ -24.5% vs 2019
2021: €2k▼ -70.6% vs 2020
2022: €-17k▼ -1216% vs 2021
2023: €-31k▼ -81.0% vs 2022
2024: €-32k▼ -2.5% vs 2023
2025: €-33k▼ -3.0% vs 2024lowest in 7 years
2019 → 2025
Total assets
€14k▼ 54.2%
2024 · €31k
2019: €23k
2020: €21k▼ -7.5% vs 2019
2021: €44k▲ +112% vs 2020
2022: €29k▼ -35.2% vs 2021
2023: €47k▲ +63.8% vs 2022highest in 7 years
2024: €31k▼ -33.6% vs 2023
2025: €14k▼ -54.2% vs 2024lowest in 7 years
2019 → 2025
Net result
€-954▼ 21.6%
2024 · €-784
2019: €768highest in 7 years
2020: €-2k▼ -322% vs 2019
2021: €-4k▼ -118% vs 2020
2022: €-19k▼ -406% vs 2021lowest in 7 years
2023: €-14k▲ +25.7% vs 2022
2024: €-784▲ +94.4% vs 2023
2025: €-954▼ -21.6% vs 2024
2019 → 2025
Working capital
€-45k▲ 10.7%
2024 · €-51k
2019: €-7khighest in 7 years
2020: €-8k▼ -2.8% vs 2019
2021: €-19k▼ -147% vs 2020
2022: €-34k▼ -81.9% vs 2021
2023: €-58k▼ -71.7% vs 2022lowest in 7 years
2024: €-51k▲ +12.7% vs 2023
2025: €-45k▲ +10.7% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€2k-€-17k€-31k▼ 81.0%€-32k▼ 2.5%€-33k▼ 3.0%
2021: €2khighest in 5 years
2022: €-17k▼ -1216% vs 2021
2023: €-31k▼ -81.0% vs 2022
2024: €-32k▼ -2.5% vs 2023
2025: €-33k▼ -3.0% vs 2024lowest in 5 years
Operating result€-4k-€-19k▼ 420%€-14k▲ 25.8%€-586▲ 95.8%€-702▼ 19.9%
2021: €-4k
2022: €-19k▼ -420% vs 2021lowest in 5 years
2023: €-14k▲ +25.8% vs 2022
2024: €-586▲ +95.8% vs 2023highest in 5 years
2025: €-702▼ -19.9% vs 2024
Net result€-4k-€-19k▼ 406%€-14k▲ 25.7%€-784▲ 94.4%€-954▼ 21.6%
2021: €-4k
2022: €-19k▼ -406% vs 2021lowest in 5 years
2023: €-14k▲ +25.7% vs 2022
2024: €-784▲ +94.4% vs 2023highest in 5 years
2025: €-954▼ -21.6% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €702 in 2025 against €586 in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €14k
Fixed assets
€13k ▼ 33.8%
Current assets
€2k ▼ 85.5%
Key figures and ratios
EBITDA
€7k▼
2024 · €8k
Cash flow
€7k▼
2024 · €7k
Solvency
-230.3%▼
2024 · -102.5%
Current ratio
0.04▼
2024 · 0.20
Debt to equity
-1.43▲
2024 · -1.98
ROA
-6.7%▼
2024 · -2.5%
Interest coverage
29.16▼
2024 · 38.29
Debt
€47k▼
2024 · €63k
Debt ≤ 1 year
€47k▼
2024 · €63k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 37 lines
Balance sheet
Code20242025
Assets
Total assets20/58€31k€14k▼
Fixed assets21/28€19k€13k▼
Intangible fixed assets21€8k€6k▼
Tangible fixed assets22/27€11k€7k▼
Furniture and vehicles24€11k€6k▼
Other tangible fixed assets26-€1k
Current assets29/58€12k€2k▼
Amounts receivable within one year40/41€9k€2k▼
Trade receivables40€8k€460▼
Other amounts receivable41€993€1k▲
Cash at bank and in hand54/58€2k€89▼
Deferred charges and accrued income490/1€1k-
Equity and liabilities
Total equity and liabilities10/49€31k€14k▼
Equity10/15€-32k€-33k▼
Contributions10/11€6k€6k=
Reserves13€39€39=
Non-distributable reserves130/1€39€39=
Reserves not available under the articles1311€39€39=
Profit (loss) carried forward14€-38k€-39k▼
Amounts payable17/49€63k€47k▼
Amounts payable within one year42/48€63k€47k▼
Trade debts44€13k€13k▼
Suppliers440/4€13k€13k▼
Other amounts payable47/48€50k€34k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€8k▼
Other operating charges640/8€625€183▼
Gross operating margin9900€8k€8k▼
Operating profit (loss)9901€-586€-702▼
Financial income75/76B€0-
Recurring financial income75€0-
Financial charges65/66B€198€251▲
Recurring financial charges65€198€251▲
Profit (loss) for the period before taxes9903€-784€-954▼
Profit (loss) for the period9904€-784€-954▼
Profit (loss) for the period to be appropriated9905€-784€-954▼
Appropriation of the result
Profit (loss) to be appropriated9906€-38k€-39k▼
Profit (loss) brought forward from the previous period14P€-37k€-38k▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3k | €4k | €6k | €8k | €8k | ▼ 1.8% |
| Other operating charges640/8 | - | €535 | €1k | €625 | €183 | ▼ 70.8% |
| Gross operating margin9900 | €-914 | €-15k | €-7k | €8k | €8k | ▼ 8.6% |
| Operating profit (loss)9901 | €-4k | €-19k | €-14k | €-586 | €-702 | ▼ 19.9% |
| Financial income75/76B | - | - | €7 | €0 | - | - |
| Recurring financial income75 | - | - | €7 | €0 | - | - |
| Financial charges65/66B | €141 | €211 | €180 | €198 | €251 | ▲ 26.8% |
| Recurring financial charges65 | €141 | €211 | €180 | €198 | €251 | ▲ 26.8% |
| Profit (loss) for the period before taxes9903 | €-4k | €-19k | €-14k | €-784 | €-954 | ▼ 21.6% |
| Income taxes67/77 | €0 | - | - | - | - | - |
| Profit (loss) for the period9904 | €-4k | €-19k | €-14k | €-784 | €-954 | ▼ 21.6% |
| Profit (loss) for the period to be appropriated9905 | €-4k | €-19k | €-14k | €-784 | €-954 | ▼ 21.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €44k | €29k | €47k | €31k | €14k | ▼ 54.2% |
| Fixed assets21/28 | €20k | €17k | €27k | €19k | €13k | ▼ 33.8% |
| Intangible fixed assets21 | €11k | €10k | €11k | €8k | €6k | ▼ 32.7% |
| Tangible fixed assets22/27 | €9k | €7k | €16k | €11k | €7k | ▼ 34.6% |
| Furniture and vehicles24 | €9k | €7k | €16k | €11k | €6k | ▼ 46.9% |
| Other tangible fixed assets26 | - | - | - | - | €1k | - |
| Current assets29/58 | €24k | €12k | €20k | €12k | €2k | ▼ 85.5% |
| Amounts receivable within one year40/41 | €12k | €3k | €3k | €9k | €2k | ▼ 81.3% |
| Trade receivables40 | €12k | €3k | €3k | €8k | €460 | ▼ 94.3% |
| Other amounts receivable41 | - | - | - | €993 | €1k | ▲ 25.2% |
| Cash at bank and in hand54/58 | €12k | €9k | €15k | €2k | €89 | ▼ 95.0% |
| Deferred charges and accrued income490/1 | €445 | - | €2k | €1k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €44k | €29k | €47k | €31k | €14k | ▼ 54.2% |
| Equity10/15 | €2k | €-17k | €-31k | €-32k | €-33k | ▼ 3.0% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €39 | €39 | €39 | €39 | €39 | = |
| Non-distributable reserves130/1 | €39 | €39 | €39 | €39 | €39 | = |
| Reserves not available under the articles1311 | €39 | €39 | €39 | €39 | €39 | = |
| Profit (loss) carried forward14 | €-5k | €-23k | €-37k | €-38k | €-39k | ▼ 2.5% |
| Amounts payable17/49 | €43k | €46k | €78k | €63k | €47k | ▼ 25.3% |
| Amounts payable within one year42/48 | €43k | €46k | €78k | €63k | €47k | ▼ 25.3% |
| Trade debts44 | €22k | €32k | €43k | €13k | €13k | ▼ 3.1% |
| Suppliers440/4 | €22k | €32k | €43k | €13k | €13k | ▼ 3.1% |
| Taxes, remuneration and social security45 | €2k | €1k | €3k | - | - | - |
| Taxes450/3 | €2k | €1k | €3k | - | - | - |
| Other amounts payable47/48 | €20k | €12k | €33k | €50k | €34k | ▼ 31.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-4k | €-19k | €-14k | €-784 | €-954 | ▼ 21.6% |
| + Depreciation and write-downs630 | €3k | €4k | €6k | €8k | €8k | ▼ 1.8% |
| Operating cash flow (approximation) | €-1k | €-15k | €-8k | €7k | €7k | ▼ 4.2% |
| Investment in fixed assets (approximation) | - | €0 | €-16k | €0 | €-2k | - |
| Change in cash | - | €-3k | €6k | €-14k | €-2k | ▲ 87.5% |
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
Next filing, fiscal year 2026, expected by
2026
06-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 6 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
07-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 99 days late
2023
27-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 88 days late
14-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 379 days late
2022
31-12
Financial
Weakest financial yearnet €-19k
Net result drops to €-19k, the lowest in the series; recovery starts the following year.
2021
31-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 153 days late
2020
04-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 35 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 acts for this company are 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, Watermaal-Bosvoorde · 1 establishment unit since 2019
Ground area
968 m²
Building footprint
402 m²
Volume, LiDAR
3,668 m³
2 parcels, Brussels · tallest building 23.2 m, ±7 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
VBXL
since 20192.286.805.781
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21652F0007/00A003 | Brussels | 870 m² | 1 · 310 m² | 23.0 m · 2 fl. |
| 21009A0702/00K000 | Brussels | 98 m² | 1 · 92 m² | 23.2 m · 7 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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Of 82,632 companies in sector 70200 we hold annual accounts for 52,575. 6,620 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
Founded28-02-2019
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
82990Other business support services
Contact
E-mail
selica@skynet.beElsene
Phone
024202950Elsene
Scores and ratios are computed by Checked and are not a credit decision.