VDH DEV
ActiveSummary
VDH DEV has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.83M and a net result of €1.36M. Equity remains stable across the filed fiscal years (±1.4% per year). Its solvency ranks better than 90% of 181 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+85
Solvency100▲+38
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €150k at 30 days acceptable
Liquidity ample (current ratio 7.21 against 0.09 in 2024; short-term debt: 5.4% and cash: 0.1% of total assets), and 5.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 35
Relative position
BE, all sectors
reference
Electricity, gas, steam and air conditioning supply (NACE 35)
about 42% fewer 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
94.6%
Return on assets
70.6%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €1.83M
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 30-07-2026, 1 day ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
1 d early
2024
8 d early
2023
7 d early
2022
31 d late
2021
57 d late
2020
56 d late
2019
96 d late
← 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, micro schema
Turnover
€35k
2020 · €0
2020: €0
2024: €35k
2020 → 2024
EBIT margin
-13.6%
Net result
€1.36M▲ 3,761%
2024 · €35k
2019: €-2k
2020: €209k▲ +8742% vs 2019
2021: €9k▼ -95.6% vs 2020
2022: €7k▼ -27.5% vs 2021
2023: €-35k▼ -632% vs 2022lowest in 7 years
2024: €35k▲ +199% vs 2023
2025: €1.36M▲ +3761% vs 2024highest in 7 years
2019 → 2025
Working capital
€643k
2024 · €-454k
2019: €-4k
2020: €-38k▼ -983% vs 2019
2021: €-366k▼ -853% vs 2020
2022: €-382k▼ -4.5% vs 2021
2023: €-465k▼ -21.7% vs 2022lowest in 7 years
2024: €-454k▲ +2.4% vs 2023
2025: €643k▲ +242% vs 2024highest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€35k
Equity€458k-€465k▲ 1.5%€429k▼ 7.6%€465k▲ 8.2%€1.83M▲ 293%
2021: €458k
2022: €465k▲ +1.5% vs 2021
2023: €429k▼ -7.6% vs 2022lowest in 5 years
2024: €465k▲ +8.2% vs 2023
2025: €1.83M▲ +293% vs 2024highest in 5 years
Operating result€-6k-€-6k▼ 1.8%€4k€-5k€1.37M
2021: €-6k
2022: €-6k▼ -1.8% vs 2021lowest in 5 years
2023: €4k▲ +173% vs 2022
2024: €-5k▼ -206% vs 2023
2025: €1.37M▲ +29173% vs 2024highest in 5 years
Net result€9k-€7k▼ 27.5%€-35k€35k€1.36M▲ 3,761%
2021: €9k
2022: €7k▼ -27.5% vs 2021
2023: €-35k▼ -632% vs 2022lowest in 5 years
2024: €35k▲ +199% vs 2023
2025: €1.36M▲ +3761% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €1.37M after a loss of €5k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.93M
Fixed assets
€1.18M ▼ 1.7%
Current assets
€746k ▲ 1,576%
Equity and liabilities €1.93M
Equity
€1.83M ▲ 293%
Debt
€104k ▼ 86.8%
Debt's share of the balance-sheet total falls from 62.8% to 5.4%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
7.21▲
2024 · 0.09
Debt to equity
0.06▼
2024 · 1.69
ROE
74.6%▲
2024 · 7.6%
ROA
70.6%▲
2024 · 2.8%
Debt ≤ 1 year
€104k▼
2024 · €498k
Debt > 1 year
€0▼
2024 · €286k
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 · 39 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.25M€1.93M▲
Formation expenses20€0€0=
Fixed assets21/28€1.20M€1.18M▼
Financial fixed assets28€1.20M€1.18M▼
Current assets29/58€45k€746k▲
Amounts receivable within one year40/41€44k€745k▲
Trade receivables40€38k€99k▲
Other amounts receivable41€6k€646k▲
Cash at bank and in hand54/58€879€2k▲
Equity and liabilities
Total equity and liabilities10/49€1.25M€1.93M▲
Equity10/15€465k€1.83M▲
Contributions10/11€440k€440k=
Profit (loss) carried forward14€25k€1.39M▲
Amounts payable17/49€785k€104k▼
Amounts payable after more than one year17€286k€0▼
Financial debts170/4€286k€0▼
Amounts payable within one year42/48€498k€104k▼
Current portion of amounts payable after more than one year42€24k€6k▼
Trade debts44€28k€69k▲
Suppliers440/4€28k€69k▲
Taxes, remuneration and social security45€0€14k▲
Taxes450/3€0€14k▲
Other amounts payable47/48€446k€15k▼
Income statement
Code20242025
Turnover70€35k-
Non-recurring operating income76A-€1.31M
Goods, raw materials, services and sundry goods60/61€38k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€155-
Other operating charges640/8€968€998▲
Gross operating margin9900€-4k€1.37M▲
Operating profit (loss)9901€-5k€1.37M▲
Financial income75/76B€76k€7k▼
Recurring financial income75€76k€7k▼
Financial charges65/66B€36k€11k▼
Recurring financial charges65€36k€11k▼
Profit (loss) for the period before taxes9903€35k€1.36M▲
Profit (loss) for the period9904€35k€1.36M▲
Profit (loss) for the period to be appropriated9905€35k€1.36M▲
Appropriation of the result
Profit (loss) to be appropriated9906€25k€1.39M▲
Profit (loss) brought forward from the previous period14P€-11k€25k▲
The notes to these accounts (9 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 |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | €35k | - | - |
| Non-recurring operating income76A | - | - | - | - | €1.31M | - |
| Goods, raw materials, services and sundry goods60/61 | €5k | €5k | - | €38k | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €232 | €232 | €232 | €155 | - | - |
| Other operating charges640/8 | €868 | €868 | €960 | €968 | €998 | ▲ 3.2% |
| Gross operating margin9900 | €-5k | €-5k | €6k | €-4k | €1.37M | ▲ 38,324% |
| Operating profit (loss)9901 | €-6k | €-6k | €4k | €-5k | €1.37M | ▲ 29,173% |
| Financial income75/76B | €39k | €45k | €209 | €76k | €7k | ▼ 90.3% |
| Recurring financial income75 | €39k | €45k | €209 | €76k | €7k | ▼ 90.3% |
| Financial charges65/66B | €24k | €33k | €40k | €36k | €11k | ▼ 70.7% |
| Recurring financial charges65 | €24k | €33k | €40k | €36k | €11k | ▼ 70.7% |
| Profit (loss) for the period before taxes9903 | €9k | €7k | €-35k | €35k | €1.36M | ▲ 3,761% |
| Profit (loss) for the period9904 | €9k | €7k | €-35k | €35k | €1.36M | ▲ 3,761% |
| Profit (loss) for the period to be appropriated9905 | €9k | €7k | €-35k | €35k | €1.36M | ▲ 3,761% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.28M | €1.29M | €1.28M | €1.25M | €1.93M | ▲ 54.6% |
| Formation expenses20 | €619 | €387 | €155 | €0 | €0 | - |
| Fixed assets21/28 | €1.18M | €1.18M | €1.20M | €1.20M | €1.18M | ▼ 1.7% |
| Intangible fixed assets21 | - | - | €0 | - | - | - |
| Financial fixed assets28 | €1.18M | €1.18M | €1.20M | €1.20M | €1.18M | ▼ 1.7% |
| Current assets29/58 | €101k | €104k | €80k | €45k | €746k | ▲ 1,576% |
| Stocks and contracts in progress3 | €63k | €99k | €0 | - | - | - |
| Stocks30/36 | €63k | €99k | €0 | - | - | - |
| Amounts receivable within one year40/41 | €34k | €2k | €78k | €44k | €745k | ▲ 1,606% |
| Trade receivables40 | - | €0 | €78k | €38k | €99k | ▲ 159% |
| Other amounts receivable41 | €34k | €2k | €23 | €6k | €646k | ▲ 11,478% |
| Cash at bank and in hand54/58 | €4k | €3k | €1k | €879 | €2k | ▲ 113% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.28M | €1.29M | €1.28M | €1.25M | €1.93M | ▲ 54.6% |
| Equity10/15 | €458k | €465k | €429k | €465k | €1.83M | ▲ 293% |
| Contributions10/11 | €440k | €440k | €440k | €440k | €440k | = |
| Profit (loss) carried forward14 | €18k | €25k | €-11k | €25k | €1.39M | ▲ 5,545% |
| Amounts payable17/49 | €824k | €820k | €855k | €785k | €104k | ▼ 86.8% |
| Amounts payable after more than one year17 | €357k | €334k | €310k | €286k | €0 | ▼ 100% |
| Financial debts170/4 | €357k | €334k | €310k | €286k | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €466k | €486k | €545k | €498k | €104k | ▼ 79.2% |
| Current portion of amounts payable after more than one year42 | €23k | €23k | €24k | €24k | €6k | ▼ 74.8% |
| Financial debts43 | €37k | €0 | - | - | - | - |
| Credit institutions430/8 | €37k | €0 | - | - | - | - |
| Trade debts44 | €3k | €3k | €34k | €28k | €69k | ▲ 142% |
| Suppliers440/4 | €3k | €3k | €34k | €28k | €69k | ▲ 142% |
| Taxes, remuneration and social security45 | €0 | €22k | €34k | €0 | €14k | - |
| Taxes450/3 | €0 | €22k | €34k | €0 | €14k | - |
| Other amounts payable47/48 | €404k | €438k | €454k | €446k | €15k | ▼ 96.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9k | €7k | €-35k | €35k | €1.36M | ▲ 3,761% |
| + Depreciation and write-downs630 | €232 | €232 | €232 | €155 | - | - |
| Operating cash flow (approximation) | €9k | €7k | €-35k | €35k | €1.36M | ▲ 3,744% |
| Investment in fixed assets (approximation) | - | €-232 | €-24k | €-155 | €20k | ▲ 13,023% |
| Change in cash | - | €-782 | €-2k | €-236 | €990 | ▲ 519% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2019net €1.36M ▲3,761%
Operating result €1.37M, net result €1.36M, both a record.
31-12
Financial
Liquidity times 81current ratio 7.21
Current ratio from 0.09 to 7.21; short-term debt falls from €498k to €104k.
31-12
Financial
Equity above €1MEq €1.83M ▲293%
2 profitable years in a row build equity to €1.83M.
23-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €35k
Net result €35k after one loss-making year.
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €-35k
Net result drops to €-35k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
26-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 57 days late
2021
25-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 56 days late
2020
31-12
Financial
Back to profitnet €209k
Net result €209k after one loss-making year.
31-12
Financial
Equity above €500kEq €647k ▲47.8%
Equity rises from €438k to €647k.
04-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 96 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Houyet · 1 establishment unit since 2020
Ground area
2,864 m²
Building footprint
627 m²
Volume, LiDAR
3,511 m³
Parcel 91089B0498/00D000, Wallonia · tallest building 10.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
VDH DEV
since 20202.305.172.930
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 91089B0498/00D000 | Wallonia | 2,864 m² | 1 · 626 m² | 10.4 m · 2 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 814 companies in sector 35110 we hold annual accounts for 630. 407 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formCoöperatieve vennootschap met beperkte aansprakelijkheid
Founded26-04-2019
Fiscal year end31-12
Activities, NACEBEL 2025
35110Production of electricity from non-renewable sources
Contact
E-mail
pierre.oldenhove@hotmail.com
Phone
+32497549345
Scores and ratios are computed by Checked and are not a credit decision.