VDE PROJECTS
ActiveSummary
The computed 12-month bankruptcy probability of VDE PROJECTS is 1.9% (moderate). The 2024 annual accounts show equity of €94,519 and a net result of €6,456. Equity is growing by ~33.2% per year across the filed fiscal years. Its solvency ranks better than 92% of 6719 sector peers (fiscal year 2024). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability76▼-2
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity ample (current ratio 5.15 against 8.34 in 2023; short-term debt: 12.1% and cash: 7% of total assets), and 12.1% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
+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 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · A punctual record breaks
This company filed 8 consecutive financial years on time. The year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 14-08-2025, 14 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 9 filingsDeviation from the deadline
2025
not confirmed
2024
14 d late
2023
37 d early
2022
51 d early
2021
45 d early
2020
40 d early
2019
50 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 35 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 49% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€6,456▼ 8.9%
2023 · €7,089
Working capital
€53,898▼ 19.2%
2023 · €66,693
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€14,789-€9,768▲ 34.0%€23,921€9,069▼ 62.1%€8,733▼ 3.7%
Net result€15,454within the sector's middle half▲ 398%€18,405within the sector's middle half▲ 19.1%€22,982above the sector's middle half▲ 24.9%€7,089within the sector's middle half▼ 69.2%€6,456within the sector's middle half▼ 8.9%
Equity€39,586within the sector's middle half▲ 64.0%€57,992within the sector's middle half▲ 46.5%€80,974within the sector's middle half▲ 39.6%€88,062within the sector's middle half▲ 8.8%€94,519within the sector's middle half▲ 7.3%
Total assets€43,974below the sector's middle half▲ 71.3%€61,838within the sector's middle half▲ 40.6%€84,787within the sector's middle half▲ 37.1%€97,149within the sector's middle half▲ 14.6%€107,503within the sector's middle half▲ 10.7%
Debt€4,388▲ 184%€3,847▼ 12.3%€3,813▼ 0.9%€9,087▲ 138%€12,984▲ 42.9%
Working capital€38,907▲ 103%€55,339▲ 42.2%€66,917▲ 20.9%€66,693▼ 0.3%€53,898▼ 19.2%
Solvency90.0%above the sector's middle half▼ 4.0pp93.8%above the sector's middle half▲ 3.8pp95.5%above the sector's middle half▲ 1.7pp90.6%above the sector's middle half▼ 4.9pp87.9%above the sector's middle half▼ 2.7pp
above
within
below
the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 4% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €107,239
Fixed assets
€40,356 ▲ 93.2%
Current assets
€66,883 ▼ 11.7%
Equity and liabilities €107,503
Equity
€94,519 ▲ 7.3%
Debt
€12,984 ▲ 42.9%
Debt's share of the balance-sheet total rises from 9.4% to 12.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€20,580▲
2023 · €15,662
Cash flow
€18,303▲
2023 · €13,682
Current ratio
5.15▼
2023 · 8.34
Quick ratio
1.60▼
2023 · 3.26
Debt to equity
0.14▲
2023 · 0.10
ROE
6.8%▼
2023 · 8.0%
ROA
6.0%▼
2023 · 7.3%
Interest coverage
117.15▲
2023 · 48.96
Debt ≤ 1 year
€12,984▲
2023 · €9,087
Income taxes
€2,129▲
2023 · €1,673
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,679 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 34,679 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €12,394 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,702 | €955 | €1,000 | €6,593 | €11,847 | ▲ 79.7% |
| Other operating charges640/8 | - | €804 | €1,030 | €3,511 | €875 | ▼ 75.1% |
| Gross operating margin9900 | -€8,862 | -€8,008 | €25,951 | €19,173 | €21,455 | ▲ 11.9% |
| Operating profit (loss)9901 | -€14,789 | -€9,768 | €23,921 | €9,069 | €8,733 | ▼ 3.7% |
| Financial income75/76B | - | €28,424 | €106 | €13 | €28 | ▲ 118% |
| Recurring financial income75 | - | €27 | €106 | €13 | €28 | ▲ 118% |
| Non-recurring financial income76B | - | €28,397 | - | - | - | - |
| Financial charges65/66B | - | €251 | €250 | €320 | €176 | ▼ 45.1% |
| Recurring financial charges65 | €272 | €193 | €250 | €320 | €176 | ▼ 45.1% |
| Non-recurring financial charges66B | - | €58 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €15,454 | €18,405 | €23,776 | €8,762 | €8,586 | ▼ 2.0% |
| Income taxes67/77 | - | - | €794 | €1,673 | €2,129 | ▲ 27.3% |
| Profit (loss) for the period9904 | €15,454 | €18,405 | €22,982 | €7,089 | €6,456 | ▼ 8.9% |
| Profit (loss) for the period to be appropriated9905 | €15,454 | €18,405 | €22,982 | €7,089 | €6,456 | ▼ 8.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €43,974 | €61,838 | €84,787 | €97,149 | €107,503 | ▲ 10.7% |
| Formation expenses20 | - | €930 | €708 | €486 | €264 | ▼ 45.6% |
| Fixed assets21/28 | €679 | €1,723 | €13,349 | €20,883 | €40,356 | ▲ 93.2% |
| Intangible fixed assets21 | - | - | - | €3,240 | €3,299 | ▲ 1.8% |
| Tangible fixed assets22/27 | €679 | €1,723 | €13,349 | €17,643 | €37,057 | ▲ 110% |
| Plant, machinery and equipment23 | - | €214 | €89 | - | - | - |
| Furniture and vehicles24 | - | €1,509 | €11,823 | €10,354 | €31,379 | ▲ 203% |
| Other tangible fixed assets26 | - | - | €1,437 | €7,288 | €5,679 | ▼ 22.1% |
| Current assets29/58 | €43,296 | €59,186 | €70,730 | €75,780 | €66,883 | ▼ 11.7% |
| Stocks and contracts in progress3 | €7,769 | €33,568 | €41,904 | €46,122 | €46,122 | = |
| Stocks30/36 | - | €33,568 | €41,904 | €46,122 | €46,122 | = |
| Amounts receivable within one year40/41 | €698 | €3,061 | €4,470 | €9,609 | €11,879 | ▲ 23.6% |
| Trade receivables40 | - | €1,053 | €598 | €1,435 | €2,294 | ▲ 59.8% |
| Other amounts receivable41 | - | €2,008 | €3,872 | €8,174 | €9,585 | ▲ 17.3% |
| Current investments50/53 | €2,000 | - | €50 | €50 | €50 | = |
| Cash at bank and in hand54/58 | €32,603 | €21,948 | €24,001 | €19,933 | €7,517 | ▼ 62.3% |
| Deferred charges and accrued income490/1 | - | €608 | €304 | €65 | €1,314 | ▲ 1,925% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €43,974 | €61,838 | €84,787 | €97,149 | €107,503 | ▲ 10.7% |
| Equity10/15 | €39,586 | €57,992 | €80,974 | €88,062 | €94,519 | ▲ 7.3% |
| Contributions10/11 | - | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Outside capital11 | - | €25,000 | €25,000 | €25,000 | - | - |
| Other1109/19 | - | €25,000 | €25,000 | €25,000 | - | - |
| Profit (loss) carried forward14 | €14,586 | €32,992 | €55,974 | €63,062 | €69,519 | ▲ 10.2% |
| Amounts payable17/49 | €4,388 | €3,847 | €3,813 | €9,087 | €12,984 | ▲ 42.9% |
| Amounts payable within one year42/48 | €4,388 | €3,847 | €3,813 | €9,087 | €12,984 | ▲ 42.9% |
| Trade debts44 | €2,975 | €980 | €993 | €927 | €1,542 | ▲ 66.4% |
| Suppliers440/4 | - | €980 | €993 | €927 | €1,542 | ▲ 66.4% |
| Taxes, remuneration and social security45 | - | €1,050 | €879 | €1,698 | €5,017 | ▲ 195% |
| Taxes450/3 | - | - | €879 | €1,698 | €3,817 | ▲ 125% |
| Remuneration and social security454/9 | - | €1,050 | - | - | €1,200 | - |
| Other amounts payable47/48 | - | €1,817 | €1,942 | €6,462 | €6,426 | ▼ 0.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,454 | €18,405 | €22,982 | €7,089 | €6,456 | ▼ 8.9% |
| + Depreciation and write-downs630 | €4,702 | €955 | €1,000 | €6,593 | €11,847 | ▲ 79.7% |
| Operating cash flow (approximation) | €20,156 | €19,361 | €23,982 | €13,682 | €18,303 | ▲ 33.8% |
| Investment in fixed assets (approximation) | - | -€1,999 | -€12,627 | -€14,128 | -€31,320 | ▼ 122% |
| Change in cash | - | -€10,655 | €2,053 | -€4,068 | -€12,416 | ▼ 205% |
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
14-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 14 days late
2024
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
10-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €22,982 ▲24.9%
Operating result €23,921, net result €22,982, both a record.
16-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
11-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Back to profitnet €3,106
Net result €3,106 after one loss-making year.
31-12
Financial
Liquidity times 6current ratio 13.39
Current ratio from 2.31 to 13.39; short-term debt falls from €9,274 to €1,544.
11-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
19-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
15-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Asse · 2 establishment units since 2015
Ground area
300 m²
Building footprint
231 m²
Volume, LiDAR
1,899 m³
2 parcels, Brussels, Flanders · tallest building 14.1 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
VDE PROJECTS
since 20152.244.928.309
VDE PROJECTS
since 20182.278.534.156
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21526D0082/00D002 | Brussels | 195 m² | 1 · 126 m² | 10.0 m · 3 fl. |
| 23095C0090/00B005 | Flanders | 105 m² | 1 · 105 m² | 14.1 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 6,972 companies in sector 49320 we hold annual accounts for 2,716. 1,932 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
Founded21-08-2015
Fiscal year end31-12
Activities, NACEBEL 2025
49320Non-scheduled passenger transport by road
46861Wholesale of diamonds and other precious stones
49330On-demand passenger transport by chauffeured vehicle
E-invoicing
Reachable via Peppol
Peppol ID
0208:0635690092
Also
9925:BE0635690092
Registered
12-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.