VDBK
ActiveSummary
VDBK has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-235k) and a net result of €111k. Equity is growing by ~10.1% per year across the filed fiscal years. Its solvency ranks better than 10% of 4178 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability44▼-46
Solvency19▲+5
Growth85=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity tight (current ratio 1.18 against 1.1 in 2024; short-term debt: 84.7% and cash: 56.6% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% 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 2025Solvency, return and age of the figures
Solvency
-5.5%
Return on assets
2.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 4178 sector peers (2025).
NBB · sector comparisonPosition among 4178 sector peers
Solvency
better than 10%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-07-2026, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
23 d early
2024
44 d early
2023
29 d early
2022
42 d early
2021
32 d early
2020
33 d early
2019
44 d early
← 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, full schema
Turnover
€3.86M▲ 28.2%
2023 · €3.01M
2018: €450klowest in 7 years
2019: €646k▲ +43.8% vs 2018
2020: €1.12M▲ +73.5% vs 2019
2021: €1.95M▲ +73.7% vs 2020
2022: €2.51M▲ +29.0% vs 2021
2023: €3.01M▲ +20.0% vs 2022
2024: €3.86M▲ +28.2% vs 2023highest in 7 years
2018 → 2024
EBIT margin
18.9%▲ 9.1pp
2023 · 9.8%
2018: -95.3%lowest in 7 years
2019: -33.4%▲ +65.0% vs 2018
2020: 7.1%▲ +121% vs 2019
2021: 3.3%▼ -53.5% vs 2020
2022: 2.6%▼ -20.3% vs 2021
2023: 9.8%▲ +271% vs 2022
2024: 18.9%▲ +93.3% vs 2023highest in 7 years
2018 → 2024
Net result
€111k▼ 83.5%
2024 · €670k
2018: €-460klowest in 8 years
2019: €-248k▲ +46.0% vs 2018
2020: €63k▲ +126% vs 2019
2021: €53k▼ -16.7% vs 2020
2022: €36k▼ -32.3% vs 2021
2023: €226k▲ +532% vs 2022
2024: €670k▲ +196% vs 2023highest in 8 years
2025: €111k▼ -83.5% vs 2024
2018 → 2025
Working capital
€654k▲ 122%
2024 · €294k
2018: €-1.17M
2019: €-1.42M▼ -21.4% vs 2018lowest in 8 years
2020: €-1.34M▲ +5.5% vs 2019
2021: €-1.23M▲ +8.1% vs 2020
2022: €-809k▲ +34.4% vs 2021
2023: €-564k▲ +30.3% vs 2022
2024: €294k▲ +152% vs 2023
2025: €654k▲ +122% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€1.95M-€2.51M▲ 29.0%€3.01M▲ 20.0%€3.86M▲ 28.2%
2021: €1.95Mlowest in 4 years
2022: €2.51M▲ +29.0% vs 2021
2023: €3.01M▲ +20.0% vs 2022
2024: €3.86M▲ +28.2% vs 2023highest in 4 years
Equity€-1.28M-€-1.24M▲ 2.8%€-1.02M▲ 18.2%€-346k▲ 66.0%€-235k▲ 32.0%
2021: €-1.28Mlowest in 5 years
2022: €-1.24M▲ +2.8% vs 2021
2023: €-1.02M▲ +18.2% vs 2022
2024: €-346k▲ +66.0% vs 2023
2025: €-235k▲ +32.0% vs 2024highest in 5 years
Operating result€64k-€66k▲ 2.8%€295k▲ 345%€730k▲ 148%€289k▼ 60.4%
2021: €64klowest in 5 years
2022: €66k▲ +2.8% vs 2021
2023: €295k▲ +345% vs 2022
2024: €730k▲ +148% vs 2023highest in 5 years
2025: €289k▼ -60.4% vs 2024
Net result€53k-€36k▼ 32.3%€226k▲ 532%€670k▲ 196%€111k▼ 83.5%
2021: €53k
2022: €36k▼ -32.3% vs 2021lowest in 5 years
2023: €226k▲ +532% vs 2022
2024: €670k▲ +196% vs 2023highest in 5 years
2025: €111k▼ -83.5% vs 2024
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 60% below 2024.
Key figures and ratios
Solvency
-5.5%▲
2024 · -10.8%
Current ratio
1.18▲
2024 · 1.10
Debt to equity
-18.76▼
2024 · -10.27
ROA
2.6%▼
2024 · 20.9%
Debt
€4.41M▲
2024 · €3.55M
Debt ≤ 1 year
€3.61M▲
2024 · €2.91M
Income taxes
€142k▲
2024 · €2k
Staff costs
€1.07M▲
2024 · €554k
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 · 59 lines
Balance sheet
Code20242025
Assets
Total assets20/58€3.20M€4.26M▲
Current assets29/58€3.20M€4.26M▲
Stocks and contracts in progress3€0-
Amounts receivable within one year40/41€1.17M€1.80M▲
Trade receivables40€1.07M€1.48M▲
Other amounts receivable41€107k€313k▲
Current investments50/53€1.60M€0▼
Other investments51/53€1.60M-
Cash at bank and in hand54/58€415k€2.41M▲
Deferred charges and accrued income490/1€14k€53k▲
Equity and liabilities
Total equity and liabilities10/49€3.20M€4.26M▲
Equity10/15€-346k€-235k▲
Contributions10/11€200k€200k=
Capital10€200k€200k=
Issued capital100€200k€200k=
Profit (loss) carried forward14€-546k€-435k▲
Provisions and deferred taxes16-€87k
Provisions for liabilities and charges160/5-€87k
Other liabilities and charges164/5-€87k
Amounts payable17/49€3.55M€4.41M▲
Amounts payable within one year42/48€2.91M€3.61M▲
Trade debts44€1.41M€2.06M▲
Suppliers440/4€1.41M€2.06M▲
Taxes, remuneration and social security45€96k€347k▲
Taxes450/3€5k€173k▲
Remuneration and social security454/9€91k€174k▲
Other amounts payable47/48€1.40M€1.20M▼
Accrued charges and deferred income492/3€640k€801k▲
Income statement
Code20242025
Operating income70/76A€6.65M-
Turnover70€3.86M-
Other operating income74€2.78M-
Non-recurring operating income76A€6k€0▼
Operating charges60/66A€5.92M-
Goods for resale, raw materials and consumables60€160k-
Purchases600/8€160k-
Services and other goods61€5.26M-
Remuneration, social security and pensions62€554k€1.07M▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-48k€364k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8-€87k
Other operating charges640/8€4€6▲
Non-recurring operating charges66A€1€16▲
Gross operating margin9900-€1.81M
Operating profit (loss)9901€730k€289k▼
Financial income75/76B€10k€10k▼
Recurring financial income75€10k€10k▼
Income from current assets751€10k-
Other financial income752/9€246-
Financial charges65/66B€69k€47k▼
Recurring financial charges65€69k€47k▼
Debt charges650€64k-
Other financial charges652/9€5k-
Profit (loss) for the period before taxes9903€671k€252k▼
Income taxes67/77€2k€142k▲
Taxes670/3€2k-
Profit (loss) for the period9904€670k€111k▼
Profit (loss) for the period to be appropriated9905€670k€111k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-546k€-435k▲
Profit (loss) brought forward from the previous period14P€-1.22M€-546k▲
Social balance
Average headcount (FTE)90875.79.3▲
The notes to these accounts (5 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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | €3.43M | €4.23M | €5.54M | €6.65M | - | - |
| Turnover70 | €1.95M | €2.51M | €3.01M | €3.86M | - | - |
| Other operating income74 | €1.48M | €1.72M | €2.43M | €2.78M | - | - |
| Non-recurring operating income76A | - | - | €98k | €6k | €0 | ▼ 100% |
| Operating charges60/66A | €3.36M | €4.16M | €5.25M | €5.92M | - | - |
| Goods for resale, raw materials and consumables60 | €26k | €48k | €49k | €160k | - | - |
| Purchases600/8 | €26k | €48k | €49k | €160k | - | - |
| Services and other goods61 | €2.70M | €3.52M | €4.59M | €5.26M | - | - |
| Remuneration, social security and pensions62 | €607k | €533k | €500k | €554k | €1.07M | ▲ 93.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12k | €0 | - | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €17k | €58k | €100k | €-48k | €364k | ▲ 859% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €87k | - |
| Other operating charges640/8 | €349 | €869 | €960 | €4 | €6 | ▲ 44.8% |
| Non-recurring operating charges66A | €0 | €2k | €0 | €1 | €16 | ▲ 1,991% |
| Gross operating margin9900 | - | - | - | - | €1.81M | - |
| Operating profit (loss)9901 | €64k | €66k | €295k | €730k | €289k | ▼ 60.4% |
| Financial income75/76B | - | - | €529 | €10k | €10k | ▼ 1.3% |
| Recurring financial income75 | - | - | €529 | €10k | €10k | ▼ 1.3% |
| Income from current assets751 | - | - | - | €10k | - | - |
| Other financial income752/9 | - | - | €529 | €246 | - | - |
| Financial charges65/66B | €10k | €30k | €68k | €69k | €47k | ▼ 31.9% |
| Recurring financial charges65 | €10k | €30k | €68k | €69k | €47k | ▼ 31.9% |
| Debt charges650 | €4k | €24k | €62k | €64k | - | - |
| Other financial charges652/9 | €6k | €6k | €6k | €5k | - | - |
| Profit (loss) for the period before taxes9903 | €54k | €36k | €228k | €671k | €252k | ▼ 62.4% |
| Income taxes67/77 | €2k | €570 | €1k | €2k | €142k | ▲ 8,278% |
| Taxes670/3 | €2k | €570 | €1k | €2k | - | - |
| Profit (loss) for the period9904 | €53k | €36k | €226k | €670k | €111k | ▼ 83.5% |
| Profit (loss) for the period to be appropriated9905 | €53k | €36k | €226k | €670k | €111k | ▼ 83.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.47M | €2.06M | €2.35M | €3.20M | €4.26M | ▲ 33.0% |
| Formation expenses20 | €0 | - | - | - | - | - |
| Fixed assets21/28 | €0 | - | - | - | - | - |
| Intangible fixed assets21 | €0 | - | - | - | - | - |
| Current assets29/58 | €1.47M | €2.06M | €2.35M | €3.20M | €4.26M | ▲ 33.0% |
| Stocks and contracts in progress3 | €0 | €0 | €0 | €0 | - | - |
| Amounts receivable within one year40/41 | €833k | €981k | €1.01M | €1.17M | €1.80M | ▲ 53.0% |
| Trade receivables40 | €823k | €930k | €898k | €1.07M | €1.48M | ▲ 39.0% |
| Other amounts receivable41 | €10k | €51k | €117k | €107k | €313k | ▲ 192% |
| Current investments50/53 | - | - | - | €1.60M | €0 | ▼ 100% |
| Other investments51/53 | - | - | - | €1.60M | - | - |
| Cash at bank and in hand54/58 | €620k | €1.05M | €1.30M | €415k | €2.41M | ▲ 481% |
| Deferred charges and accrued income490/1 | €16k | €27k | €36k | €14k | €53k | ▲ 276% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.47M | €2.06M | €2.35M | €3.20M | €4.26M | ▲ 33.0% |
| Equity10/15 | €-1.28M | €-1.24M | €-1.02M | €-346k | €-235k | ▲ 32.0% |
| Contributions10/11 | €200k | €200k | €200k | €200k | €200k | = |
| Capital10 | €200k | €200k | €200k | €200k | €200k | = |
| Issued capital100 | €200k | €200k | €200k | €200k | €200k | = |
| Profit (loss) carried forward14 | €-1.48M | €-1.44M | €-1.22M | €-546k | €-435k | ▲ 20.3% |
| Provisions and deferred taxes16 | - | - | - | - | €87k | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | €87k | - |
| Other liabilities and charges164/5 | - | - | - | - | €87k | - |
| Amounts payable17/49 | €2.75M | €3.30M | €3.36M | €3.55M | €4.41M | ▲ 24.2% |
| Amounts payable within one year42/48 | €2.70M | €2.87M | €2.91M | €2.91M | €3.61M | ▲ 24.0% |
| Trade debts44 | €1.15M | €1.37M | €1.43M | €1.41M | €2.06M | ▲ 45.8% |
| Suppliers440/4 | €1.15M | €1.37M | €1.43M | €1.41M | €2.06M | ▲ 45.8% |
| Taxes, remuneration and social security45 | €148k | €97k | €84k | €96k | €347k | ▲ 262% |
| Taxes450/3 | €25k | €1k | €18k | €5k | €173k | ▲ 3,386% |
| Remuneration and social security454/9 | €123k | €96k | €66k | €91k | €174k | ▲ 91.6% |
| Other amounts payable47/48 | €1.40M | €1.40M | €1.40M | €1.40M | €1.20M | ▼ 14.3% |
| Accrued charges and deferred income492/3 | €44k | €432k | €451k | €640k | €801k | ▲ 25.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €53k | €36k | €226k | €670k | €111k | ▼ 83.5% |
| + Depreciation and write-downs630 | €12k | €0 | - | - | - | - |
| Operating cash flow (approximation) | €65k | €36k | €226k | €670k | €111k | ▼ 83.5% |
| Change in cash | - | €435k | €244k | €-883k | €2.00M | ▲ 326% |
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
29-07
State Gazette act
Reappointment: Cédric Hélias (director)Appointment: EY Réviseurs d'Entreprises SRL (statutory auditor)5 facts ▸
State Gazette act
Reappointment: Cédric Hélias (director)
Appointment: EY Réviseurs d'Entreprises SRL (statutory auditor)5 facts ▸
- General meeting, 09/06/2026
- Board meeting, 09/06/2026
- Director reappointment, Cédric Hélias (director)
- Auditor appointment, EY Réviseurs d'Entreprises SRL (statutory auditor)
- Director reappointment, Cédric Hélias (managing director)
08-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €670k ▲196%
Operating result €730k, net result €670k, both a record.
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €63k
Net result €63k after 2 loss-making years.
17-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
03-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
21-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 21 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 17 acts read
About the unread acts
Of the 17 Belgian State Gazette acts we know for this company, 1 has been read. The other 16 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
1 director, last change in 2026
Cédric Hélias
CurrentDirector · since 09-06-2026
09-06-2026
Mandate renewed as Director
09-06-2026
Mandate renewed as Managing director
Not every act has been read: a resignation may be missing here
16 of this company's 17 Belgian State Gazette acts have 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, Anderlecht · 1 establishment unit since 2015
Ground area
3.8 ha
Building footprint
1,578 m²
Volume, LiDAR
29,040 m³
Parcel 21306C0030/00V000, Brussels · tallest building 22.5 m, ±6 floors. Linked by address, not a title deed.
107
companies at this address
See who is registered here
1 establishment unit
VDBK
since 20152.246.940.365
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21306C0030/00V000 | Brussels | 3.8 ha | 1 · 1,578 m² | 22.5 m · 6 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.
Statutory auditor
1 auditor| EY Réviseurs d'Entreprises SRLCurrent Statutory auditor · represented by Thomas Meurice | 29-07-2026 → present |
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Of 2,606 companies in sector 47551 we hold annual accounts for 1,716. 683 are within a factor 10 of this headcount. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded22-09-2015
Fiscal year end31-12
Activities, NACEBEL 2025
47551Retail sale of household furniture
77223Rental and leasing activities
Scores and ratios are computed by Checked and are not a credit decision.