Checked.be
Active
BE 0882.784.825Private limited company
VdB-Invest
Ninoofsesteenweg 476 ·9600 Ronse, Belgium· 20 yrs active
Sector: Site preparation
(43120)
Conclusion
VdB-Invest has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €157k and a net result of €5k. Equity is growing by ~7.5% per year across the filed fiscal years. Its solvency ranks better than 22% of 26784 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Based on the State Gazette, CBE and 6 annual accounts.
Key figures
| Equity | €157k |
| Net result | €5k |
| Better than sector | 22% |
| Active | 20 yrs |
Financial profile
44
/ 100
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
Health
36
Profitability
15
Solvency
15
Growth
52
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 2006, 20 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
36
/ 100
Weak
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€6k
estimate, not credit advice
Score history
35
2020
36
2021
44
2022
44
2023
44
2024
36
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.13 (< 1.0)
-10
Quick ratio
Quick ratio 0.13 (< 0.6)
-5
Leverage
Debt/equity 3.88 (> 3.0)
-10
Profitability
ROE 3%
+3
Interest coverage
Interest coverage 5.2× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 02-07-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~7.5%/year over 6 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 43, Specialised construction activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 20.1% | 47.4% | |
| Net result | €5k | €10k | |
| Equity | €157k | €60k | |
| Gross operating margin | €110k | €39k | |
| Total assets | €780k | €141k |
€103k
-4.8%
20-25
€5k
-67.9%
20-25
€81k
-6.4%
20-25
€780k
-9.0%
20-25
€157k
+3.0%
20-25
€-118k
+0.4%
20-25
€3k
+80.2%
20-25
€607k
-11.8%
20-25
€136k
-4.0%
20-25
€470k
-13.8%
20-25
0.13
-19.1%
20-25
0.13
-19.1%
20-25
20.1%
+13.2%
20-25
3.88
-14.4%
20-25
2.9%
-68.9%
20-25
0.6%
-64.7%
20-25
5.19
+0.6%
20-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €103k | €109k | €83k | €69k | €69k |
| Net profit | €5k | €14k | €13k | €8k | €6k |
| Cash flow | €81k | €87k | €63k | €53k | €50k |
| Staff costs | - | - | - | - | - |
| Income taxes | €3k | €2k | €6k | €1k | €3k |
| Dividends | - | - | - | - | - |
| Total assets | €780k | €857k | €702k | €766k | €741k |
| Equity | €157k | €152k | €138k | €125k | €117k |
| Debt | €607k | €688k | €546k | €622k | €604k |
| of which ≤ 1y | €136k | €142k | €93k | €145k | €74k |
| of which > 1y | €470k | €546k | €453k | €477k | €531k |
| Working capital | €-118k | €-119k | €-81k | €-118k | €-57k |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 0.13 | 0.16 | 0.13 | 0.19 | 0.23 |
| Quick ratio | 0.13 | 0.16 | 0.13 | 0.19 | 0.23 |
| Working capital ratio | -15.2% | -13.9% | -11.5% | -15.4% | -7.7% |
| Solvency | 20.1% | 17.7% | 19.6% | 16.3% | 15.8% |
| Debt / equity | 3.88 | 4.53 | 3.96 | 4.97 | 5.16 |
| Long-term debt ratio | 3.00 | 3.59 | 3.28 | 3.81 | 4.53 |
| Interest coverage | 5.19 | 5.16 | 5.35 | 4.52 | 4.17 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 0.6% | 1.7% | 1.8% | 1.0% | 0.9% |
| ROE | 2.9% | 9.3% | 9.3% | 6.4% | 5.5% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (25 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €780k | €857k | €702k | €766k | €741k |
| Fixed assets | 21/28 | €762k | €834k | €689k | €739k | €724k |
| Formation expenses | 20 | - | - | - | €0 | - |
| Tangible fixed assets | 22/27 | €760k | €832k | €687k | €737k | €722k |
| Financial fixed assets | 28 | €2k | €2k | €2k | €2k | €2k |
| Current assets | 29/58 | €18k | €23k | €12k | €27k | €17k |
| Amounts receivable within one year | 40/41 | €16k | €18k | €9k | €23k | €14k |
| Cash & bank | 54/58 | €2k | €4k | €2k | €3k | €904 |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €780k | €857k | €702k | €766k | €741k |
| Equity | 10/15 | €157k | €152k | €138k | €125k | €117k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k | €19k |
| Reserves | 13 | €138k | €133k | €119k | €107k | €98k |
| Provisions & deferred taxes | 16 | €16k | €17k | €18k | €19k | €20k |
| Amounts payable | 17/49 | €607k | €688k | €546k | €622k | €604k |
| Amounts payable after one year | 17 | €470k | €546k | €453k | €477k | €531k |
| Amounts payable within one year | 42/48 | €136k | €142k | €93k | €145k | €74k |
| Trade debts payable within one year | 44 | €2k | €3k | €3k | €60k | €3k |
| Income statement | ||||||
| Gross operating margin | 9900 | €110k | €115k | €89k | €75k | €71k |
| Operating result | 9901 | €27k | €36k | €33k | €23k | €25k |
| Financial income | 75 | - | - | - | - | €1 |
| Financial charges | 65 | €20k | €21k | €16k | €15k | €16k |
| Result before taxes | 9903 | €7k | €15k | €18k | €8k | €8k |
| Income taxes | 67/77 | €3k | €2k | €6k | €1k | €3k |
| Net result for the period | 9904 | €5k | €14k | €13k | €8k | €6k |
| Result to be appropriated | 9905 | €7k | €16k | €15k | €10k | €9k |
Legal Structure
| NACE primary | Site preparation(43120) |
| Legal form | Private limited company(610) |
| Incorporation | 31-07-2006 |
| Status | Active |
| Postal code | 9600 |
Establishment units
Grondwerken Braco
since 20062.157.757.773
Real-estate footprint
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45422C0782/00K000 | Flanders | 4,158 m² | 1 · 1,280 m² | 2.9 m |
| 45423F1003/00N000 | Flanders | 917 m² | 1 · 143 m² | 2.9 m |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €5k ▼67.9%
Net result drops to €5k, the lowest in the series.
07-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €150kEq €152k ▲10.3%
5 profitable years in a row build equity to €152k.
15-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
22-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
07-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 38 days late
2019
20-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 20 days late
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
12-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
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.
Credit advice
Company registry (CBE)
Activities
Site preparation4312045112Raising of dairy cattle01410Landscape service activities81300
Names & trade names
| Legal nameNL | VdB-Invest |
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