VDD PROJECT DEVELOPMENT
ActiveSummary
VDD PROJECT DEVELOPMENT has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €6.1m and a net result of €144,658. Equity is growing by ~39.8% per year across the filed fiscal years. Its solvency ranks better than 27% of 4813 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability13▼-12
Solvency34▼-1
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €220,000 at 30 days acceptable
Liquidity ample (current ratio 1.77 against 1.21 in 2023; short-term debt: 23.8% and cash: 2.6% of total assets), but 91.3% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
8.7%
Return on assets
0.2%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-06-2025, 38 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
38 d early
2023
27 d early
2022
31 d early
2021
11 d early
2020
1 d early
2019
22 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 22 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
In the rankings
#5 company by total assets in Bruges, Real estate sector
Turnover
€2.3m▼ 82.6%
2023 · €13.2m
EBIT margin
-56.3%▼ 57.8pp
2023 · 1.5%
Net result
€144,658▼ 84.4%
2023 · €929,466
Working capital
€12.8m▲ 172%
2023 · €4.7m
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
Line20202021202220232024
Turnover€13.2m€2.3m▼ 82.6%
Operating result-€169,415€705,962€868,585▲ 23.0%€203,284▼ 76.6%-€1.3m
Net result€57,809▲ 40.0%€151,797▲ 163%€2.5m▲ 1,520%€929,466▼ 62.2%€144,658▼ 84.4%
EBIT margin1.5%-56.3%▼ 57.8pp
Equity€1.2m▲ 5.0%€2.3m▲ 86.9%€4.7m▲ 109%€5.9m▲ 25.5%€6.1m▲ 2.4%
Total assets€41.9m▲ 28.1%€50.8m▲ 21.2%€54.7m▲ 7.7%€61.4m▲ 12.2%€69.5m▲ 13.2%
Debt€40.7m▲ 29.0%€48.5m▲ 19.3%€50.0m▲ 3.0%€55.5m▲ 11.0%€63.4m▲ 14.4%
Working capital-€11.0m▼ 658%-€4.5m▲ 59.3%-€1.3m▲ 70.9%€4.7m€12.8m▲ 172%
Staff (FTE)0.3▼ 70.0%0.8▲ 167%2▲ 150%3.1▲ 55.0%3.9▲ 25.8%
Why a figure moved sharply
- 2024 Turnover -83%, Net result -84% on 2023. Cause not known from the registers.
- 2023 Net result -62% on 2022. The accounts now follow the full schema, last year the abbreviated schema.
- 2022 Net result +1,520%, Equity +109% on 2021. Cause not known from the registers.
- 2021 Equity +87% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €1.3m after €203,284 in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €69.5m
Fixed assets
€40.2m ▲ 17.0%
Current assets
€29.3m ▲ 8.4%
Equity and liabilities €69.5m
Equity
€6.1m ▲ 2.4%
Debt
€63.4m ▲ 14.4%
Debt's share of the balance-sheet total rises from 90.3% to 91.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
-€1.2m▼
2023 · €259,845
Cash flow
€263,366▼
2023 · €986,027
Current ratio
1.77▲
2023 · 1.21
Quick ratio
0.82▲
2023 · 0.71
Debt to equity
10.45▲
2023 · 9.36
ROE
2.4%▼
2023 · 15.7%
ROA
0.2%▼
2023 · 1.5%
Interest coverage
-1.18▼
2023 · 0.32
Debt ≤ 1 year
€16.6m▼
2023 · €22.4m
Debt > 1 year
€46.3m▲
2023 · €32.9m
Income taxes
€0▼
2023 · €148,839
Staff costs
€237,730▲
2023 · €185,254
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €18.4m | €5.5m | ▼ 69.9% |
| Turnover70 | - | - | - | €13.2m | €2.3m | ▼ 82.6% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | €3.6m | €3.0m | ▼ 16.6% |
| Other operating income74 | - | - | - | €1.6m | €260,145 | ▼ 83.8% |
| Non-recurring operating income76A | - | €0 | - | - | - | - |
| Operating charges60/66A | - | - | - | €18.2m | €6.8m | ▼ 62.5% |
| Goods for resale, raw materials and consumables60 | - | - | - | €14.8m | €3.6m | ▼ 75.5% |
| Purchases600/8 | - | - | - | €14.1m | €3.5m | ▼ 75.1% |
| Change in stocks: decrease (increase)609 | - | - | - | €740,799 | €126,691 | ▼ 82.9% |
| Services and other goods61 | - | - | - | €3.0m | €2.7m | ▼ 8.9% |
| Remuneration, social security and pensions62 | - | €36,437 | €111,624 | €185,254 | €237,730 | ▲ 28.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22,817 | €23,181 | €24,054 | €56,561 | €118,708 | ▲ 110% |
| Other operating charges640/8 | - | €48,692 | €94,084 | €96,501 | €97,960 | ▲ 1.5% |
| Gross operating margin9900 | -€69,899 | €814,272 | €1.1m | - | - | - |
| Operating profit (loss)9901 | -€169,415 | €705,962 | €868,585 | €203,284 | -€1.3m | ▼ 735% |
| Financial income75/76B | - | €891,491 | €2.9m | €1.7m | €2.4m | ▲ 45.1% |
| Recurring financial income75 | €365,313 | €891,491 | €2.9m | €1.7m | €2.4m | ▲ 45.1% |
| Income from financial fixed assets750 | - | - | - | €526,000 | €1.2m | ▲ 130% |
| Income from current assets751 | - | - | - | €1.1m | €1.2m | ▲ 6.3% |
| Other financial income752/9 | - | - | - | €642 | €163 | ▼ 74.6% |
| Non-recurring financial income76B | - | €0 | - | - | - | - |
| Financial charges65/66B | - | €1.4m | €1.1m | €801,546 | €995,816 | ▲ 24.2% |
| Recurring financial charges65 | €204,312 | €1.2m | €1.1m | €801,546 | €995,816 | ▲ 24.2% |
| Debt charges650 | - | - | - | €799,888 | €990,273 | ▲ 23.8% |
| Other financial charges652/9 | - | - | - | €1,658 | €5,543 | ▲ 234% |
| Non-recurring financial charges66B | - | €247,742 | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | €63,960 | €168,047 | €2.7m | €1.1m | €144,658 | ▼ 86.6% |
| Income taxes67/77 | €6,150 | €16,250 | €234,699 | €148,839 | €0 | ▼ 100% |
| Taxes670/3 | - | - | - | €148,839 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €57,809 | €151,797 | €2.5m | €929,466 | €144,658 | ▼ 84.4% |
| Profit (loss) for the period to be appropriated9905 | €57,809 | €151,797 | €2.5m | €929,466 | €144,658 | ▼ 84.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €41.9m | €50.8m | €54.7m | €61.4m | €69.5m | ▲ 13.2% |
| Fixed assets21/28 | €25.5m | €23.3m | €24.0m | €34.3m | €40.2m | ▲ 17.0% |
| Intangible fixed assets21 | €2.8m | €2.8m | €2.8m | €2.8m | €2.8m | = |
| Tangible fixed assets22/27 | €82,645 | €61,397 | €42,054 | €645,887 | €975,795 | ▲ 51.1% |
| Furniture and vehicles24 | - | €61,397 | €42,054 | €43,482 | €26,465 | ▼ 39.1% |
| Other tangible fixed assets26 | - | - | - | €602,406 | €949,330 | ▲ 57.6% |
| Financial fixed assets28 | €22.7m | €20.5m | €21.2m | €30.9m | €36.4m | ▲ 17.9% |
| Affiliated companies280/1 | - | - | - | €30.9m | €36.4m | ▲ 17.9% |
| Participating interests280 | - | - | - | €23.8m | €23.8m | = |
| Amounts receivable281 | - | - | - | €7.1m | €12.6m | ▲ 78.1% |
| Other financial fixed assets284/8 | - | - | - | €185 | €185 | = |
| Amounts receivable and cash guarantees285/8 | - | - | - | €185 | €185 | = |
| Current assets29/58 | €16.4m | €27.5m | €30.7m | €27.1m | €29.3m | ▲ 8.4% |
| Stocks and contracts in progress3 | €13.1m | €11.4m | €9.9m | €11.2m | €15.8m | ▲ 41.3% |
| Stocks30/36 | - | €11.4m | €9.9m | €11.2m | €13.6m | ▲ 22.1% |
| Property held for sale35 | - | - | - | €11.2m | €13.6m | ▲ 22.1% |
| Contracts in progress37 | - | - | - | - | €2.1m | - |
| Amounts receivable within one year40/41 | €2.6m | €14.3m | €16.9m | €14.3m | €11.7m | ▼ 17.9% |
| Trade receivables40 | - | €1.7m | €1.4m | €2.6m | €1.4m | ▼ 47.0% |
| Other amounts receivable41 | - | €12.7m | €15.5m | €11.7m | €10.3m | ▼ 11.5% |
| Current investments50/53 | €0 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €704,540 | €1.8m | €3.9m | €1.6m | €1.8m | ▲ 12.3% |
| Deferred charges and accrued income490/1 | - | €3,005 | €5,526 | €5,174 | €20,024 | ▲ 287% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €41.9m | €50.8m | €54.7m | €61.4m | €69.5m | ▲ 13.2% |
| Equity10/15 | €1.2m | €2.3m | €4.7m | €5.9m | €6.1m | ▲ 2.4% |
| Contributions10/11 | - | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Reserves13 | €88,024 | €88,024 | €88,024 | €88,024 | €88,024 | = |
| Non-distributable reserves130/1 | - | €8,024 | - | €0 | - | - |
| Reserves not available under the articles1311 | - | €8,024 | - | €0 | - | - |
| Distributable reserves133 | - | €80,000 | €88,024 | €88,024 | €88,024 | = |
| Profit (loss) carried forward14 | €103,035 | €254,832 | €2.7m | €3.6m | €3.8m | ▲ 4.0% |
| Investment grants15 | - | €899,653 | €899,653 | €1.2m | €1.2m | = |
| Amounts payable17/49 | €40.7m | €48.5m | €50.0m | €55.5m | €63.4m | ▲ 14.4% |
| Amounts payable after more than one year17 | €13.2m | €16.5m | €18.0m | €32.9m | €46.3m | ▲ 41.0% |
| Financial debts170/4 | - | €16.5m | €18.0m | €32.9m | €46.3m | ▲ 41.0% |
| Unsubordinated bonds171 | - | - | - | €10.0m | €10.0m | = |
| Credit institutions173 | - | - | - | €518,452 | €425,595 | ▼ 17.9% |
| Other loans174 | - | - | - | €22.4m | €35.9m | ▲ 60.6% |
| Amounts payable within one year42/48 | €27.3m | €31.9m | €31.9m | €22.4m | €16.6m | ▼ 26.0% |
| Current portion of amounts payable after more than one year42 | - | €4.6m | €3.3m | €6.4m | €92,857 | ▼ 98.6% |
| Financial debts43 | - | €4.9m | €4.9m | €4.9m | €4.7m | ▼ 4.6% |
| Credit institutions430/8 | - | €4.9m | €4.9m | €4.9m | €4.7m | ▼ 4.6% |
| Trade debts44 | €186,559 | €258,265 | €382,773 | €2.6m | €4.8m | ▲ 89.4% |
| Suppliers440/4 | - | €258,265 | €382,773 | €2.6m | €4.8m | ▲ 89.4% |
| Advances received on contracts in progress46 | - | €11.4m | €14.0m | €829,743 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | €60,464 | €460,779 | €421,633 | €115,136 | ▼ 72.7% |
| Taxes450/3 | - | €56,752 | €433,978 | €381,712 | €85,537 | ▼ 77.6% |
| Remuneration and social security454/9 | - | €3,712 | €26,800 | €39,921 | €29,599 | ▼ 25.9% |
| Other amounts payable47/48 | - | €10.7m | €8.9m | €7.2m | €6.8m | ▼ 5.3% |
| Accrued charges and deferred income492/3 | - | €81,935 | €0 | €221,918 | €534,049 | ▲ 141% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €57,809 | €151,797 | €2.5m | €929,466 | €144,658 | ▼ 84.4% |
| + Depreciation and write-downs630 | €22,817 | €23,181 | €24,054 | €56,561 | €118,708 | ▲ 110% |
| Operating cash flow (approximation) | €80,626 | €174,978 | €2.5m | €986,027 | €263,366 | ▼ 73.3% |
| Investment in fixed assets (approximation) | - | €2.2m | -€752,922 | -€10.3m | -€6.0m | ▲ 42.3% |
| Change in cash | - | €1.1m | €2.1m | -€2.3m | €197,336 | ▲ 109% |
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
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Equity above €5mEq €5.9m ▲25.5%
6 profitable years in a row build equity to €5.9m.
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €2.5m ▲1,520%
Operating result €868,585, net result €2.5m, both a record.
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €2mEq €2.3m ▲86.9%
4 profitable years in a row build equity to €2.3m.
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
09-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
19-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
09-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
14-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
04-04
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 13 acts read
About the unread acts
We know of 13 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
13 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, Brugge · 1 establishment unit since 2010
Ground area
167 m²
Building footprint
167 m²
Volume, LiDAR
1,759 m³
Parcel 31805E1197/00R000, Flanders · tallest building 13.4 m, ±3 floors. Linked by address, not a title deed.
18
companies at this address
See who is registered here
1 establishment unit
Sint-Jakobsstraat 70, 8000 Brugge
since 20102.191.461.414
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31805E1197/00R000 ProtectedMonument · Townscape or village viewHerenhuis Hof de Gros: herenhuis met bijgebouwenSource ↗ |
Flanders | 167 m² | 1 · 167 m² | 13.4 m · 3 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 5 entries · 32,514 EUR awarded · 32,514 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 2 | 0 EUR | 32,202 EUR |
| 2023 | 1 | 24,392 EUR | 0 EUR |
| 2022 | 2 | 8,122 EUR | 312 EUR |
Recognitions · licences · registrations
Legal Entity Identifier
984500E0D080BKUC4637
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Of 9,699 companies in sector 68121 we hold annual accounts for 7,385. 1,648 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
Founded28-05-2010
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
70200Business and other management consultancy
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0826235310
Also
9925:BE0826235310
Registered
05-01-2026
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.