VDH
ActiveSummary
VDH has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €360,620 and a net result of €55,434. Equity is growing by ~17.7% per year across the filed fiscal years. Its solvency ranks better than 24% of 31942 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability62▲+4
Solvency46▼-1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €24,000 at 30 days acceptable
Liquidity short (current ratio 0.64 against 1.24 in 2024; short-term debt: 7.4% and cash: 2.5% of total assets), and 79.4% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 2025Solvency, return and age of the figures
Solvency
20.6%
Return on assets
3.2%
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 24% of 31942 sector peers (2025).
NBB · sector comparisonPosition among 31942 sector peers
Solvency
better than 24%
← 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 26-05-2026, 66 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
66 d early
2024
30 d early
2023
19 d late
2022
60 d early
2021
31 d late
2020
30 d late
2019
4 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 10 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
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. Usually files around 1 July (4 of the last 5 filed years within 50 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€360,620▼ 4.6%
2024 · €378,185
Total assets
€1.8m▲ 0.4%
2024 · €1.7m
Net result
€55,434▼ 2.8%
2024 · €57,022
Working capital
-€47,185
2024 · €27,059
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, 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
Line20212022202320242025
Operating result€82,379▼ 21.5%€109,168▲ 32.5%€63,939▼ 41.4%€119,071▲ 86.2%€112,174▼ 5.8%
Net result€53,833within the sector's middle half▼ 28.5%€74,892above the sector's middle half▲ 39.1%€25,303within the sector's middle half▼ 66.2%€57,022within the sector's middle half▲ 125%€55,434within the sector's middle half▼ 2.8%
Equity€220,969within the sector's middle half▲ 32.2%€295,861above the sector's middle half▲ 33.9%€321,163above the sector's middle half▲ 8.6%€378,185above the sector's middle half▲ 17.8%€360,620above the sector's middle half▼ 4.6%
Total assets€926,205above the sector's middle half▲ 244%€916,155above the sector's middle half▼ 1.1%€1.9mabove the sector's middle half▲ 112%€1.7mabove the sector's middle half▼ 10.1%€1.8mabove the sector's middle half▲ 0.4%
Debt€705,236▲ 592%€620,294▼ 12.0%€1.6m▲ 161%€1.4m▼ 15.6%€1.4m▲ 1.8%
Working capital€215,518above the sector's middle half▲ 27.9%€261,014above the sector's middle half▲ 21.1%€74,294within the sector's middle half▼ 71.5%€27,059within the sector's middle half▼ 63.6%-€47,185below the sector's middle half
Solvency23.9%below the sector's middle half▼ 38.3pp32.3%within the sector's middle half▲ 8.4pp16.5%below the sector's middle half▼ 15.8pp21.7%below the sector's middle half▲ 5.1pp20.6%below the sector's middle half▼ 1.1pp
Current ratio2.99within the sector's middle half▲ 0.134.46above the sector's middle half▲ 1.471.29within the sector's middle half▼ 3.171.24within the sector's middle half▼ 0.050.64below the sector's middle half▼ 0.60
Return on assets (ROA)5.8%within the sector's middle half▼ 22.2pp8.2%within the sector's middle half▲ 2.4pp1.3%below the sector's middle half▼ 6.9pp3.3%within the sector's middle half▲ 2.0pp3.2%within the sector's middle half▼ 0.1pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 6% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.8m
Fixed assets
€1.7m ▲ 3.9%
Current assets
€83,334 ▼ 39.9%
Equity and liabilities €1.8m
Equity
€360,620 ▼ 4.6%
Debt
€1.4m ▲ 1.8%
Debt's share of the balance-sheet total rises from 78.3% to 79.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€185,184▲
2024 · €179,278
Cash flow
€128,445▲
2024 · €117,230
Debt to equity
3.86▲
2024 · 3.62
ROE
15.4%▲
2024 · 15.1%
Interest coverage
4.76▲
2024 · 4.27
Debt ≤ 1 year
€130,519▲
2024 · €111,601
Debt > 1 year
€1.3m▲
2024 · €1.3m
Income taxes
€21,126▼
2024 · €21,502
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,368 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.7%
went bankrupt
1.4%
stopped otherwise
97%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% 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 2,368 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €14,464 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €84,226 | €15,264 | €42,061 | €60,207 | €73,010 | ▲ 21.3% |
| Other operating charges640/8 | €6,089 | €2,848 | €28,099 | €9,074 | €6,162 | ▼ 32.1% |
| Gross operating margin9900 | €172,694 | €127,281 | €134,099 | €188,352 | €191,346 | ▲ 1.6% |
| Operating profit (loss)9901 | €82,379 | €109,168 | €63,939 | €119,071 | €112,174 | ▼ 5.8% |
| Financial income75/76B | €948 | €809 | €4,835 | €1,467 | €3,268 | ▲ 123% |
| Recurring financial income75 | €948 | €809 | €4,835 | €1,467 | €3,268 | ▲ 123% |
| Financial charges65/66B | €6,855 | €6,130 | €36,651 | €42,014 | €38,881 | ▼ 7.5% |
| Recurring financial charges65 | €6,855 | €6,130 | €36,651 | €42,014 | €38,881 | ▼ 7.5% |
| Profit (loss) for the period before taxes9903 | €76,473 | €103,846 | €32,123 | €78,524 | €76,560 | ▼ 2.5% |
| Income taxes67/77 | €22,639 | €28,954 | €6,820 | €21,502 | €21,126 | ▼ 1.7% |
| Profit (loss) for the period9904 | €53,833 | €74,892 | €25,303 | €57,022 | €55,434 | ▼ 2.8% |
| Profit (loss) for the period to be appropriated9905 | €53,833 | €74,892 | €25,303 | €57,022 | €55,434 | ▼ 2.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €926,205 | €916,155 | €1.9m | €1.7m | €1.8m | ▲ 0.4% |
| Fixed assets21/28 | €602,541 | €579,741 | €1.6m | €1.6m | €1.7m | ▲ 3.9% |
| Tangible fixed assets22/27 | €602,541 | €579,741 | €1.6m | €1.6m | €1.7m | ▲ 3.9% |
| Land and buildings22 | €595,005 | €579,741 | €1.6m | €1.6m | €1.7m | ▲ 3.3% |
| Furniture and vehicles24 | €7,536 | €0 | - | - | €9,927 | - |
| Other tangible fixed assets26 | - | - | - | €9,545 | €8,536 | ▼ 10.6% |
| Financial fixed assets28 | - | - | - | - | €500 | - |
| Current assets29/58 | €323,664 | €336,414 | €328,426 | €138,660 | €83,334 | ▼ 39.9% |
| Amounts receivable within one year40/41 | €181,056 | €28,519 | €109,148 | €124,025 | €38,889 | ▼ 68.6% |
| Trade receivables40 | €138,673 | €15,125 | €17,375 | €24,269 | €15,191 | ▼ 37.4% |
| Other amounts receivable41 | €42,383 | €13,394 | €91,773 | €99,756 | €23,698 | ▼ 76.2% |
| Cash at bank and in hand54/58 | €142,608 | €307,895 | €218,754 | €14,181 | €43,806 | ▲ 209% |
| Deferred charges and accrued income490/1 | - | - | €525 | €453 | €639 | ▲ 41.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €926,205 | €916,155 | €1.9m | €1.7m | €1.8m | ▲ 0.4% |
| Equity10/15 | €220,969 | €295,861 | €321,163 | €378,185 | €360,620 | ▼ 4.6% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €202,050 | €276,850 | €302,563 | €359,585 | €342,020 | ▼ 4.9% |
| Distributable reserves133 | €202,050 | €276,850 | €302,563 | €359,585 | €342,020 | ▼ 4.9% |
| Profit (loss) carried forward14 | €319 | €411 | €0 | - | €0 | - |
| Amounts payable17/49 | €705,236 | €620,294 | €1.6m | €1.4m | €1.4m | ▲ 1.8% |
| Amounts payable after more than one year17 | €597,090 | €544,894 | €1.4m | €1.3m | €1.3m | ▲ 0.5% |
| Financial debts170/4 | €597,090 | €544,894 | €1.4m | €1.3m | €1.3m | ▲ 0.5% |
| Amounts payable within one year42/48 | €108,145 | €75,401 | €254,132 | €111,601 | €130,519 | ▲ 17.0% |
| Current portion of amounts payable after more than one year42 | €58,409 | €52,197 | €150,467 | €99,385 | €122,167 | ▲ 22.9% |
| Trade debts44 | €0 | €869 | €90,769 | €7,319 | €198 | ▼ 97.3% |
| Suppliers440/4 | €0 | €869 | €90,769 | €7,319 | €198 | ▼ 97.3% |
| Advances received on contracts in progress46 | - | - | - | €3,395 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €20,474 | €9,132 | €0 | €1,502 | €8,154 | ▲ 443% |
| Taxes450/3 | €20,474 | €9,132 | €0 | €1,502 | €8,154 | ▲ 443% |
| Remuneration and social security454/9 | €0 | - | - | - | - | - |
| Other amounts payable47/48 | €29,263 | €13,203 | €12,896 | €0 | - | - |
| Accrued charges and deferred income492/3 | - | - | €10,927 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €53,833 | €74,892 | €25,303 | €57,022 | €55,434 | ▼ 2.8% |
| + Depreciation and write-downs630 | €84,226 | €15,264 | €42,061 | €60,207 | €73,010 | ▲ 21.3% |
| Operating cash flow (approximation) | €138,060 | €90,156 | €67,363 | €117,230 | €128,445 | ▲ 9.6% |
| Investment in fixed assets (approximation) | - | €7,536 | -€1.1m | -€54,152 | -€135,455 | ▼ 150% |
| Change in cash | - | €165,287 | -€89,142 | -€204,572 | €29,625 | ▲ 114% |
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
26-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
19-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 19 days late
2023
31-12
Financial
Weakest financial yearnet €25,303 ▼66.2%
Net result drops to €25,303, the lowest in the series; recovery starts the following year.
01-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Equity above €200,000Eq €220,969 ▲32.2%
3 profitable years in a row build equity to €220,969.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-12
Financial
Highest result since 2019net €75,274 ▲2.7%
Net result €75,274, the highest in the series.
31-12
Financial
Equity above €150,000Eq €167,136 ▲81.9%
2 profitable years in a row build equity to €167,136.
04-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 4 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Hove · 1 establishment unit since 2018
Ground area
739 m²
Building footprint
103 m²
Volume, LiDAR
653 m³
Parcel 11021A0025/00B003, Flanders · tallest building 11.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
VDH
since 20182.282.101.875
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11021A0025/00B003 | Flanders | 739 m² | 1 · 103 m² | 11.0 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.
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Of 5,712 companies in sector 70100 we hold annual accounts for 3,519. 2,297 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
Founded29-10-2018
Fiscal year end31-12
Activities, NACEBEL 2025
70100Activities of head offices
E-invoicing
Reachable via Peppol
Peppol ID
0208:0712682754
Also
9925:BE0712682754
Registered
03-05-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.