VCS IMMO
ActiveSummary
VCS IMMO has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €463k and a net result of €-42k. Equity is shrinking by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 74% of 2318 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability23▲+2
Solvency84▼-2
Growth32=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity short (current ratio 0.06 against 0.03 in 2024; short-term debt: 28% and cash: 1.4% of total assets), and 41.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 93
Relative position
BE, all sectors
reference
Sports, amusement and recreation activities (NACE 93)
about 50% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
18192021232425
2018 to 2025 · latest year €-42k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 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 · 9 filingsDeviation from the deadline
2025
27 d late
2024
39 d late
2023
8 d late
2022
31 d late
2021
18 d late
2020
25 d late
2019
91 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
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-42k▲ 5.2%
2024 · €-44k
2018: €-27k
2019: €-13k▲ +52.1% vs 2018
2020: €-16k▼ -21.0% vs 2019
2021: €-13k▲ +19.3% vs 2020highest value
2023: €-31k
2024: €-44k▼ -40.7% vs 2023lowest value
2025: €-42k▲ +5.2% vs 2024
2018 → 2025
Working capital
€-207k▼ 0.7%
2024 · €-206k
2018: €182khighest value
2019: €-70k▼ -139% vs 2018
2020: €-78k▼ -11.4% vs 2019
2021: €-87k▼ -10.4% vs 2020
2023: €-175k
2024: €-206k▼ -17.8% vs 2023
2025: €-207k▼ -0.7% vs 2024lowest value
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202320242025Trend
Equity€638k-€625k▼ 2.0%€549k▼ 12.2%€505k▼ 8.1%€463k▼ 8.3%
2020: €638khighest value
2021: €625k▼ -2.0% vs 2020
2023: €549k
2024: €505k▼ -8.1% vs 2023
2025: €463k▼ -8.3% vs 2024lowest value
Operating result€-11k-€-8k▲ 25.0%€-18k▼ 114%€-27k▼ 47.4%€-25k▲ 6.4%
2020: €-11k
2021: €-8k▲ +25.0% vs 2020highest value
2023: €-18k
2024: €-27k▼ -47.4% vs 2023lowest value
2025: €-25k▲ +6.4% vs 2024
Net result€-16k-€-13k▲ 19.3%€-31k▼ 148%€-44k▼ 40.7%€-42k▲ 5.2%
2020: €-16k
2021: €-13k▲ +19.3% vs 2020highest value
2023: €-31k
2024: €-44k▼ -40.7% vs 2023lowest value
2025: €-42k▲ +5.2% vs 2024
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €25k in 2025 against €27k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €791k
Fixed assets
€777k ▼ 5.7%
Current assets
€14k ▲ 119%
Equity and liabilities €791k
Equity
€463k ▼ 8.3%
Debt
€328k ▲ 0.9%
Debt's share of the balance-sheet total rises from 39.2% to 41.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€22k▲
2024 · €18k
Cash flow
€5k▲
2024 · €848
Current ratio
0.06▲
2024 · 0.03
Debt to equity
0.71▲
2024 · 0.64
ROE
-9.1%▼
2024 · -8.8%
ROA
-5.3%▲
2024 · -5.3%
Interest coverage
1.32▲
2024 · 1.07
Debt ≤ 1 year
€221k▲
2024 · €212k
Debt > 1 year
€92k▼
2024 · €98k
Income taxes
€440▲
2024 · €427
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 · 44 lines
Balance sheet
Code20242025
Assets
Total assets20/58€830k€791k▼
Fixed assets21/28€824k€777k▼
Intangible fixed assets21€229k€199k▼
Tangible fixed assets22/27€594k€578k▼
Land and buildings22€545k€536k▼
Plant, machinery and equipment23€48k€42k▼
Furniture and vehicles24€1k€858▼
Current assets29/58€7k€14k▲
Amounts receivable within one year40/41€2k€3k▲
Trade receivables40€2k€2k▲
Other amounts receivable41€324€499▲
Cash at bank and in hand54/58€4k€11k▲
Equity and liabilities
Total equity and liabilities10/49€830k€791k▼
Equity10/15€505k€463k▼
Contributions10/11€652k€652k=
Reserves13€933€933=
Distributable reserves133€933€933=
Profit (loss) carried forward14€-148k€-190k▼
Amounts payable17/49€325k€328k▲
Amounts payable after more than one year17€98k€92k▼
Financial debts170/4€98k€92k▼
Amounts payable within one year42/48€212k€221k▲
Current portion of amounts payable after more than one year42€7k€6k▼
Trade debts44€3k€2k▼
Suppliers440/4€3k€2k▼
Advances received on contracts in progress46€1k€4k▲
Taxes, remuneration and social security45€892€1k▲
Taxes450/3€892€1k▲
Other amounts payable47/48€200k€208k▲
Accrued charges and deferred income492/3€15k€14k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€45k€47k▲
Other operating charges640/8€5k€6k▲
Gross operating margin9900€24k€28k▲
Operating profit (loss)9901€-27k€-25k▲
Financial income75/76B€27€3▼
Recurring financial income75€27€3▼
Financial charges65/66B€17k€16k▼
Recurring financial charges65€17k€16k▼
Profit (loss) for the period before taxes9903€-44k€-42k▲
Income taxes67/77€427€440▲
Profit (loss) for the period9904€-44k€-42k▲
Profit (loss) for the period to be appropriated9905€-44k€-42k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-148k€-190k▼
Profit (loss) brought forward from the previous period14P€-104k€-148k▼
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 | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15k | €15k | €48k | €45k | €47k | ▲ 3.7% |
| Other operating charges640/8 | - | €4k | €5k | €5k | €6k | ▲ 12.9% |
| Gross operating margin9900 | €6k | €10k | €35k | €24k | €28k | ▲ 17.3% |
| Operating profit (loss)9901 | €-11k | €-8k | €-18k | €-27k | €-25k | ▲ 6.4% |
| Financial income75/76B | - | €2 | €1 | €27 | €3 | ▼ 88.4% |
| Recurring financial income75 | €0 | €2 | €1 | €27 | €3 | ▼ 88.4% |
| Financial charges65/66B | - | €4k | €13k | €17k | €16k | ▼ 3.7% |
| Recurring financial charges65 | €4k | €4k | €13k | €17k | €16k | ▼ 3.7% |
| Profit (loss) for the period before taxes9903 | €-15k | €-12k | €-31k | €-44k | €-42k | ▲ 5.3% |
| Income taxes67/77 | €341 | €342 | €341 | €427 | €440 | ▲ 2.9% |
| Profit (loss) for the period9904 | €-16k | €-13k | €-31k | €-44k | €-42k | ▲ 5.2% |
| Profit (loss) for the period to be appropriated9905 | €-16k | €-13k | €-31k | €-44k | €-42k | ▲ 5.2% |
| Line | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €757k | €732k | €859k | €830k | €791k | ▼ 4.7% |
| Fixed assets21/28 | €734k | €720k | €839k | €824k | €777k | ▼ 5.7% |
| Intangible fixed assets21 | - | - | €260k | €229k | €199k | ▼ 13.3% |
| Tangible fixed assets22/27 | €494k | €480k | €579k | €594k | €578k | ▼ 2.7% |
| Land and buildings22 | - | €452k | €555k | €545k | €536k | ▼ 1.8% |
| Plant, machinery and equipment23 | - | €12k | €22k | €48k | €42k | ▼ 12.8% |
| Furniture and vehicles24 | - | €15k | €1k | €1k | €858 | ▼ 25.7% |
| Financial fixed assets28 | €240k | €240k | - | - | - | - |
| Current assets29/58 | €23k | €12k | €20k | €7k | €14k | ▲ 119% |
| Amounts receivable within one year40/41 | €4k | €3k | €8k | €2k | €3k | ▲ 28.5% |
| Trade receivables40 | - | - | €6k | €2k | €2k | ▲ 24.4% |
| Other amounts receivable41 | - | €3k | €1k | €324 | €499 | ▲ 53.8% |
| Cash at bank and in hand54/58 | €18k | €9k | €13k | €4k | €11k | ▲ 168% |
| Deferred charges and accrued income490/1 | - | €83 | €0 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €757k | €732k | €859k | €830k | €791k | ▼ 4.7% |
| Equity10/15 | €638k | €625k | €549k | €505k | €463k | ▼ 8.3% |
| Contributions10/11 | - | €652k | €652k | €652k | €652k | = |
| Reserves13 | €933 | €933 | €933 | €933 | €933 | = |
| Non-distributable reserves130/1 | - | €933 | - | - | - | - |
| Reserves not available under the articles1311 | - | €933 | - | - | - | - |
| Distributable reserves133 | - | - | €933 | €933 | €933 | = |
| Profit (loss) carried forward14 | €-15k | €-28k | €-104k | €-148k | €-190k | ▼ 28.4% |
| Amounts payable17/49 | €120k | €106k | €310k | €325k | €328k | ▲ 0.9% |
| Amounts payable after more than one year17 | €14k | €4k | €105k | €98k | €92k | ▼ 5.9% |
| Financial debts170/4 | - | €4k | €105k | €98k | €92k | ▼ 5.9% |
| Amounts payable within one year42/48 | €101k | €99k | €195k | €212k | €221k | ▲ 4.3% |
| Current portion of amounts payable after more than one year42 | - | €10k | €7k | €7k | €6k | ▼ 10.4% |
| Financial debts43 | - | €20 | - | - | - | - |
| Credit institutions430/8 | - | €20 | - | - | - | - |
| Trade debts44 | €665 | €437 | €2k | €3k | €2k | ▼ 43.7% |
| Suppliers440/4 | - | €437 | €2k | €3k | €2k | ▼ 43.7% |
| Advances received on contracts in progress46 | - | - | €5k | €1k | €4k | ▲ 204% |
| Taxes, remuneration and social security45 | - | €342 | €782 | €892 | €1k | ▲ 25.6% |
| Taxes450/3 | - | €342 | €782 | €892 | €1k | ▲ 25.6% |
| Other amounts payable47/48 | - | €88k | €180k | €200k | €208k | ▲ 4.2% |
| Accrued charges and deferred income492/3 | - | €4k | €10k | €15k | €14k | ▼ 3.0% |
| Line | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-16k | €-13k | €-31k | €-44k | €-42k | ▲ 5.2% |
| + Depreciation and write-downs630 | €15k | €15k | €48k | €45k | €47k | ▲ 3.7% |
| Operating cash flow (approximation) | €-916 | €2k | €17k | €848 | €5k | ▲ 471% |
| Investment in fixed assets (approximation) | - | €0 | - | €-30k | €0 | ▲ 100% |
| Change in cash | - | €-9k | - | €-9k | €7k | ▲ 182% |
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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
08-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 39 days late
2024
31-12
Financial
Weakest financial yearnet €-44k
Net result drops to €-44k, the lowest in the series; recovery starts the following year.
08-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 8 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
18-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 18 days late
2021
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 25 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 91 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Comblain-au-Pont · 1 establishment unit since 2017
Ground area
1,806 m²
Building footprint
167 m²
Volume, LiDAR
956 m³
Parcel 62026B0131/00R000, Wallonia · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
VCS Immo
since 20172.264.881.407
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62026B0131/00R000 | Wallonia | 1,806 m² | 1 · 167 m² | 7.8 m · 2 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.
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Of 6,727 companies in sector 93299 we hold annual accounts for 1,168. 636 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 (pre-2019)
Founded22-03-2017
Fiscal year end31-12
Activities, NACEBEL 2025
93299Other amusement and recreation activities
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
Scores and ratios are computed by Checked and are not a credit decision.