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VDBK

Active
Public limited companyfounded 201511 yrs activePaapsemlaan 20, 1070 Anderlecht, BelgiumKBO/BCE: BE 0637.991.566
Summary

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.
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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
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 · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
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
-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 comparison
Position 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 filings
Deviation 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 months
Position in the running window
25-09-2026 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

On 22 September 2015, VDBK was incorporated.1 Cédric Hélias has served as director of the company since 2026.2 Revenue went from EUR 449,544 in 2018 to EUR 3.9 million in 2024 and headcount from 2.8 full-time equivalents in 2018 to 9.3 in 2025.3

  1. 1Crossroads Bank for Enterprises
  2. 2Belgian State Gazette, 29-07-2026
  3. 3National Bank, annual accounts 2018, 2024 and 2025

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Financials · fiscal year 2025, full schema

Turnover
€3.86M▲ 28.2%
2023 · €3.01M
EBIT margin
18.9%▲ 9.1pp
2023 · 9.8%
Net result
€111k▼ 83.5%
2024 · €670k
Working capital
€654k▲ 122%
2024 · €294k
Trend over the years

Click a name to add, emphasise or remove a line.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20212022202320242025
Turnover€1.95M▲ 73.7%€2.51M▲ 29.0%€3.01M▲ 20.0%€3.86M▲ 28.2%
Operating result€64k▼ 19.3%€66k▲ 2.8%€295k▲ 345%€730k▲ 148%€289k▼ 60.4%
Net result€53k▼ 16.7%€36k▼ 32.3%€226k▲ 532%€670k▲ 196%€111k▼ 83.5%
EBIT margin3.3%▼ 3.8pp2.6%▼ 0.7pp9.8%▲ 7.1pp18.9%▲ 9.1pp
Equity€-1.28M▲ 4.0%€-1.24M▲ 2.8%€-1.02M▲ 18.2%€-346k▲ 66.0%€-235k▲ 32.0%
Total assets€1.47M▲ 74.4%€2.06M▲ 40.3%€2.35M▲ 13.9%€3.20M▲ 36.4%€4.26M▲ 33.0%
Debt€2.75M▲ 26.4%€3.30M▲ 20.3%€3.36M▲ 1.8%€3.55M▲ 5.5%€4.41M▲ 24.2%
Working capital€-1.23M▲ 8.1%€-809k▲ 34.4%€-564k▲ 30.3%€294k€654k▲ 122%
Staff (FTE)6▲ 42.9%5.7▼ 5.0%5.3▼ 7.0%5.7▲ 7.5%9.3▲ 63.2%
Result per fiscal year
Operating resultNet result
€0€200k€400k€600k€800kOperating result 2021: €64k€64kNet result 2021: €53k€53kOperating result 2022: €66k€66kNet result 2022: €36k€36kOperating result 2023: €295k€295kNet result 2023: €226k€226kOperating result 2024: €730k€730kNet result 2024: €670k€670kOperating result 2025: €289k€289kNet result 2025: €111k€111k20212022202320242025€0€200k€400k€600k€800kOperating result 2023: €295k€295kNet result 2023: €226k€226kOperating result 2024: €730k€730kNet result 2024: €670k€670kOperating result 2025: €289k€289kNet result 2025: €111k€111k202320242025
The operating result falls in 2025; 2025 is 60% below 2024.
Key figures and ratios
2025 value · change against 2024
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 ≤ 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.
Annual accounts
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.

Line20212022202320242025Change
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%
Line20212022202320242025Change
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%
Line20212022202320242025Change
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.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
29-07
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.

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Directors · office · real estate

Directors
1 director, last change in 2026
Cédric Hélias
Director · since 09-06-2026
Current
09-06-2026 Mandate renewed as Director
09-06-2026 Mandate renewed as Managing director
See the board, name and seat on a given date →
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
seat establishment The establishment unit on the map
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
Paapsemlaan 20, 1070 AnderlechtManufacture of furniture
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

Structure & network

Connections & network

1 current director
Depth

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Similar companies · same sector, comparable size

Of 2,606 companies in sector 47551 we hold annual accounts for 1,718. 684 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.