VDH Forwarding
ActiveSummary
VDH Forwarding has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.2m and a net result of €203,445. Equity is growing by ~14.4% per year across the filed fiscal years. Its solvency ranks better than 78% of 733 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability67▲+14
Solvency93▼-7
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €80,000 at 30 days acceptable
Liquidity ample (current ratio 3.16 against 4.31 in 2024; short-term debt: 31.6% and cash: 12.7% of total assets), and 31.6% 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+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 52
Relative position
BE, all sectors
reference
Warehousing and support activities for transportation (NACE 52)
about 72% more 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
68.4%
Return on assets
11.9%
Age of the figures
9 mo
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
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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
25 d late
2023
13 d early
2022
4 d early
2021
1 d late
2020
8 d early
2019
15 d early
← 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 2 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 36% 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 31 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€1.2m▲ 22.7%
2024 · €956,203
Total assets
€1.7m▲ 37.8%
2024 · €1.2m
Net result
€203,445▲ 170%
2024 · €75,434
Working capital
€1.2m▲ 22.7%
2024 · €956,203
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 52, Warehousing and support activities for transportation, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€124,712▲ 72.4%€106,753▼ 14.4%€318,500▲ 198%€96,611▼ 69.7%€274,135▲ 184%
Net result€94,449within the sector's middle half▲ 83.5%€58,162within the sector's middle half▼ 38.4%€257,835above the sector's middle half▲ 343%€75,434within the sector's middle half▼ 70.7%€203,445above the sector's middle half▲ 170%
Equity€660,772within the sector's middle half▲ 11.9%€704,934within the sector's middle half▲ 6.7%€898,769within the sector's middle half▲ 27.5%€956,203within the sector's middle half▲ 6.4%€1.2mabove the sector's middle half▲ 22.7%
Total assets€1.9mwithin the sector's middle half▲ 49.3%€1.4mwithin the sector's middle half▼ 26.0%€1.2mwithin the sector's middle half▼ 15.6%€1.2mwithin the sector's middle half▲ 3.1%€1.7mwithin the sector's middle half▲ 37.8%
Debt€1.3m▲ 80.6%€726,176▼ 43.0%€308,634▼ 57.5%€289,114▼ 6.3%€543,015▲ 87.8%
Working capital€758,407above the sector's middle half▲ 1.5%€732,461above the sector's middle half▼ 3.4%€927,762above the sector's middle half▲ 26.7%€956,203above the sector's middle half▲ 3.1%€1.2mabove the sector's middle half▲ 22.7%
Solvency34.2%within the sector's middle half▼ 11.4pp49.3%within the sector's middle half▲ 15.1pp74.4%above the sector's middle half▲ 25.2pp76.8%above the sector's middle half▲ 2.3pp68.4%above the sector's middle half▼ 8.4pp
Current ratio1.64within the sector's middle half▼ 0.722.05within the sector's middle half▲ 0.404.32above the sector's middle half▲ 2.274.31above the sector's middle half▼ 0.013.16above the sector's middle half▼ 1.15
Return on assets (ROA)4.9%within the sector's middle half▲ 0.9pp4.1%within the sector's middle half▼ 0.8pp21.4%above the sector's middle half▲ 17.3pp6.1%within the sector's middle half▼ 15.3pp11.9%within the sector's middle half▲ 5.8pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 52, Warehousing and support activities for transportation, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 184% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €1.7m
Equity
€1.2m ▲ 22.7%
Debt
€543,015 ▲ 87.8%
Debt's share of the balance-sheet total rises from 23.2% to 31.6%. Equity and debt are higher.
Key figures and ratios
Debt to equity
0.46▲
2024 · 0.30
ROE
17.3%▲
2024 · 7.9%
Debt ≤ 1 year
€543,015▲
2024 · €289,114
Income taxes
€67,815▲
2024 · €19,145
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,811 companies that looked in July 2024 the way this one looks now, 0.3% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.3%
went bankrupt
3.2%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 17,811 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 |
|---|---|---|---|---|---|---|
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €49,131 | €717 | -€47,323 | €9,829 | -€35,107 | ▼ 457% |
| Other operating charges640/8 | €969 | €970 | €48,452 | €1,086 | €49,444 | ▲ 4,455% |
| Gross operating margin9900 | €174,811 | €108,440 | €319,629 | €107,525 | €288,472 | ▲ 168% |
| Operating profit (loss)9901 | €124,712 | €106,753 | €318,500 | €96,611 | €274,135 | ▲ 184% |
| Financial income75/76B | €18,684 | €25,797 | €20,268 | €1,721 | €7,798 | ▲ 353% |
| Recurring financial income75 | €18,684 | €25,797 | €20,268 | €1,721 | €7,798 | ▲ 353% |
| Financial charges65/66B | €25,464 | €59,583 | €15,104 | €3,754 | €10,673 | ▲ 184% |
| Recurring financial charges65 | €25,464 | €59,583 | €15,104 | €3,754 | €10,673 | ▲ 184% |
| Profit (loss) for the period before taxes9903 | €117,932 | €72,967 | €323,664 | €94,578 | €271,260 | ▲ 187% |
| Income taxes67/77 | €23,483 | €14,805 | €65,828 | €19,145 | €67,815 | ▲ 254% |
| Profit (loss) for the period9904 | €94,449 | €58,162 | €257,835 | €75,434 | €203,445 | ▲ 170% |
| Profit (loss) for the period to be appropriated9905 | €94,449 | €58,162 | €257,835 | €75,434 | €203,445 | ▲ 170% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.9m | €1.4m | €1.2m | €1.2m | €1.7m | ▲ 37.8% |
| Current assets29/58 | €1.9m | €1.4m | €1.2m | €1.2m | €1.7m | ▲ 37.8% |
| Amounts receivable within one year40/41 | €1.8m | €796,314 | €716,338 | €986,110 | €1.5m | ▲ 51.9% |
| Trade receivables40 | €1.8m | €776,728 | €710,380 | €899,090 | €1.4m | ▲ 55.6% |
| Other amounts receivable41 | €10,912 | €19,586 | €5,958 | €87,021 | €98,631 | ▲ 13.3% |
| Cash at bank and in hand54/58 | €163,637 | €634,796 | €491,065 | €259,207 | €218,243 | ▼ 15.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.9m | €1.4m | €1.2m | €1.2m | €1.7m | ▲ 37.8% |
| Equity10/15 | €660,772 | €704,934 | €898,769 | €956,203 | €1.2m | ▲ 22.7% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €654,572 | €698,734 | €892,569 | €950,003 | €1.2m | ▲ 22.8% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | €652,712 | €696,874 | €892,569 | €950,003 | €1.2m | ▲ 22.8% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | €0 | - | - |
| Amounts payable17/49 | €1.3m | €726,176 | €308,634 | €289,114 | €543,015 | ▲ 87.8% |
| Amounts payable after more than one year17 | €84,534 | €12,076 | €0 | - | - | - |
| Financial debts170/4 | €84,534 | €12,076 | €0 | - | - | - |
| Amounts payable within one year42/48 | €1.2m | €698,649 | €279,641 | €289,114 | €543,015 | ▲ 87.8% |
| Current portion of amounts payable after more than one year42 | €72,458 | €72,458 | €12,076 | €0 | - | - |
| Financial debts43 | €125,000 | €5,000 | €0 | - | - | - |
| Credit institutions430/8 | €125,000 | €5,000 | €0 | - | - | - |
| Trade debts44 | €154,233 | €182,059 | €187,755 | €270,464 | €541,930 | ▲ 100% |
| Suppliers440/4 | €154,233 | €182,059 | €187,755 | €270,464 | €541,930 | ▲ 100% |
| Advances received on contracts in progress46 | €1,060 | €550 | €1,380 | €650 | €650 | = |
| Taxes, remuneration and social security45 | €0 | - | €14,430 | €0 | €435 | - |
| Taxes450/3 | €0 | - | €14,430 | €0 | €435 | - |
| Other amounts payable47/48 | €823,125 | €438,582 | €64,000 | €18,000 | - | - |
| Accrued charges and deferred income492/3 | €13,101 | €15,450 | €28,993 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €94,449 | €58,162 | €257,835 | €75,434 | €203,445 | ▲ 170% |
| Operating cash flow (approximation) | €94,449 | €58,162 | €257,835 | €75,434 | €203,445 | ▲ 170% |
| Change in cash | - | €471,159 | -€143,731 | -€231,859 | -€40,964 | ▲ 82.3% |
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
07-08
State Gazette act
Resignation: Brisam BV (director)Appointment: Benlen VOF (director) · Power of attorney9 facts ▸
State Gazette act
Resignation: Brisam BV (director)
Appointment: Benlen VOF (director) · Power of attorney9 facts ▸
- Director resignation, Brisam BV (director)
- Director appointment, Benlen VOF (director)
- Power of attorney
- Power of attorney, Margaux Beyer
- Power of attorney, Laura Hofströssler
- Power of attorney, Marcos Lamin-Busschots
- Power of attorney
- Director resignation, Brisam BV (day-to-day manager)
- Director appointment, Benlen VOF (day-to-day manager)
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Equity above €1mEq €1.2m ▲22.7%
8 profitable years in a row build equity to €1.2m.
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 25 days late
2024
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €257,835 ▲343%
Operating result €318,500, net result €257,835, both a record.
31-12
Financial
Liquidity doublescurrent ratio 4.32
Current ratio from 2.05 to 4.32; short-term debt falls from €698,649 to €279,641.
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
01-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 1 day late
2021
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €51,468 ▼75.8%
Net result drops to €51,468, the lowest in the series; recovery starts the following year.
16-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
31-12
Financial
Equity above €500,000Eq €551,855 ▲39.6%
2 profitable years in a row build equity to €551,855.
24-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
19-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 10 acts read
About the unread acts
Of the 10 Belgian State Gazette acts we know for this company, 1 has been read. The other 9 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, 1 in day-to-day management, last change in 2026
Board 1
Benlen VOF
CurrentDirector · since 30-04-2026 · Legal entity · perm. rep.: Bram De Schepper
Day-to-day management 1
Benlen VOF
CurrentDay-to-day manager · since 30-04-2026 · Legal entity · perm. rep.: Bram De Schepper
Permanent representatives 1
Bram De Schepper
CurrentPermanent representative · since 30-04-2026 · for Benlen VOF
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
9 of this company's 10 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, Antwerpen · 1 establishment unit since 2009
Ground area
3,205 m²
Building footprint
1,369 m²
Volume, LiDAR
28,410 m³
Parcel 11807G0642/00W004, Flanders · tallest building 27.0 m, ±7 floors. Linked by address, not a title deed.
39
companies at this address
See who is registered here
1 establishment unit
VDH Forwarding
since 20092.183.091.205
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11807G0642/00W004 | Flanders | 3,205 m² | 1 · 1,369 m² | 27.0 m · 7 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.
Mandate history
2 people since 2026, 1 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Benlen VOF |
|
| Brisam BV |
|
Articles of association
Who signs
Each director alone
Structure & network
Part of the group
Sofindev VI Investments (Privak)
16 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- Sofindev VI Investments (Privak)
- Sofindev VI
- Shipex Group
- IFW Globe
- VDH Forwarding
Highest known parent: Sofindev VI Investments (Privak). The sources do not say who stands above it.
Owners 1
- IFW GlobeparentSourceaccounts IFW Globe 2025100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
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Shareholding
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Of 3,185 companies in sector 52250 we hold annual accounts for 1,962. 1,188 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
Founded08-12-2009
Fiscal year end31-12
Activities, NACEBEL 2025
52250Logistics services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0821245154
Registered
16-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.