VDV - PROJECTS
ActiveSummary
VDV - PROJECTS has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €54,698 and a net result of €7,017. Equity is shrinking by ~6.6% per year across the filed fiscal years. Its solvency ranks better than 40% of 15862 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability73▲+65
Solvency51▲+4
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,000 at 30 days acceptable
Liquidity ample (current ratio 18.0 against 20.59 in 2023; short-term debt: 5.6% and cash: 45.2% of total assets), but 74.3% 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+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 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
25.7%
Return on assets
3.3%
Age of the figures
21 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 31-12-2024 was due by 31-07-2025 and was filed on 18-06-2025, 43 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
43 d early
2023
37 d early
2022
31 d early
2021
40 d early
2020
46 d early
2019
11 d late
← 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 31 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€54,698▲ 14.7%
2023 · €47,681
Total assets
€212,671▼ 0.5%
2023 · €213,783
Net result
€7,017
2023 · -€19,209
Working capital
€200,768▲ 2.3%
2023 · €196,268
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
Operating result-€15,639▼ 2,722%-€17,469▼ 11.7%€11,066-€21,594€5,524
Net result-€11,598-€15,266▼ 31.6%€12,210-€19,209€7,017
Equity€69,947▼ 14.2%€54,681▼ 21.8%€66,890▲ 22.3%€47,681▼ 28.7%€54,698▲ 14.7%
Total assets€250,943▼ 9.1%€242,267▼ 3.5%€233,802▼ 3.5%€213,783▼ 8.6%€212,671▼ 0.5%
Debt€180,996▼ 6.9%€187,587▲ 3.6%€166,912▼ 11.0%€166,102▼ 0.5%€157,973▼ 4.9%
Working capital€213,830▼ 4.6%€207,541▼ 2.9%€206,352▼ 0.6%€196,268▼ 4.9%€200,768▲ 2.3%
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 2024: €5,524 after a loss of €21,594 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €212,671
Fixed assets
€90 ▼ 98.8%
Current assets
€212,581 ▲ 3.0%
Equity and liabilities €212,671
Equity
€54,698 ▲ 14.7%
Debt
€157,973 ▼ 4.9%
Debt's share of the balance-sheet total falls from 77.7% to 74.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€12,927▲
2023 · -€12,769
Cash flow
€14,420▲
2023 · -€10,383
Current ratio
18.00▼
2023 · 20.59
Quick ratio
8.61▼
2023 · 9.94
Debt to equity
2.89▼
2023 · 3.48
ROE
12.8%▲
2023 · -40.3%
ROA
3.3%▲
2023 · -9.0%
Interest coverage
14.41▲
2023 · -16.97
Debt ≤ 1 year
€11,813▲
2023 · €10,021
Debt > 1 year
€140,000▼
2023 · €150,000
Income taxes
€700▲
2023 · €0
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,500 companies that looked in July 2024 the way this one looks now, 1.2% went bankrupt within 24 months and 97% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.2%
went bankrupt
1.6%
stopped otherwise
97%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,058 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% | 1.6% |
| 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 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 4,500 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,826 | €8,826 | €8,826 | €8,826 | €7,403 | ▼ 16.1% |
| Other operating charges640/8 | - | €538 | €539 | €586 | €598 | ▲ 2.0% |
| Gross operating margin9900 | -€6,204 | -€8,106 | €20,431 | -€12,183 | €13,525 | ▲ 211% |
| Operating profit (loss)9901 | -€15,639 | -€17,469 | €11,066 | -€21,594 | €5,524 | ▲ 126% |
| Financial income75/76B | - | €2,887 | €3,173 | €3,138 | €3,090 | ▼ 1.5% |
| Recurring financial income75 | €4,620 | €2,887 | €3,173 | €3,138 | €3,090 | ▼ 1.5% |
| Financial charges65/66B | - | €713 | €829 | €752 | €897 | ▲ 19.2% |
| Recurring financial charges65 | €727 | €713 | €829 | €752 | €897 | ▲ 19.2% |
| Profit (loss) for the period before taxes9903 | -€11,747 | -€15,296 | €13,410 | -€19,209 | €7,717 | ▲ 140% |
| Income taxes67/77 | -€149 | -€29 | €1,200 | €0 | €700 | - |
| Profit (loss) for the period9904 | -€11,598 | -€15,266 | €12,210 | -€19,209 | €7,017 | ▲ 137% |
| Profit (loss) for the period to be appropriated9905 | -€11,598 | -€15,266 | €12,210 | -€19,209 | €7,017 | ▲ 137% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €250,943 | €242,267 | €233,802 | €213,783 | €212,671 | ▼ 0.5% |
| Fixed assets21/28 | €33,970 | €25,144 | €16,319 | €7,493 | €90 | ▼ 98.8% |
| Tangible fixed assets22/27 | €33,880 | €25,054 | €16,229 | €7,403 | €0 | ▼ 100% |
| Other tangible fixed assets26 | - | €25,054 | €16,229 | €7,403 | €0 | ▼ 100% |
| Financial fixed assets28 | €90 | €90 | €90 | €90 | €90 | = |
| Current assets29/58 | €216,973 | €217,123 | €217,483 | €206,290 | €212,581 | ▲ 3.0% |
| Stocks and contracts in progress3 | €129,725 | €118,107 | €100,914 | €106,661 | €110,852 | ▲ 3.9% |
| Stocks30/36 | - | €118,107 | €100,914 | €106,661 | €110,852 | ▲ 3.9% |
| Amounts receivable within one year40/41 | €10,461 | €644 | €2,375 | €6,931 | €5,615 | ▼ 19.0% |
| Trade receivables40 | - | €644 | €2,375 | €2,931 | €1,615 | ▼ 44.9% |
| Other amounts receivable41 | - | €0 | - | €4,000 | €4,000 | = |
| Cash at bank and in hand54/58 | €76,787 | €98,372 | €114,195 | €92,698 | €96,113 | ▲ 3.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €250,943 | €242,267 | €233,802 | €213,783 | €212,671 | ▼ 0.5% |
| Equity10/15 | €69,947 | €54,681 | €66,890 | €47,681 | €54,698 | ▲ 14.7% |
| Contributions10/11 | - | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Reserves13 | €56,545 | €56,545 | €41,890 | €22,681 | €29,698 | ▲ 30.9% |
| Non-distributable reserves130/1 | - | €2,500 | €2,500 | €0 | - | - |
| Reserves not available under the articles1311 | - | €2,500 | €2,500 | €0 | - | - |
| Distributable reserves133 | - | €54,045 | €39,390 | €22,681 | €29,698 | ▲ 30.9% |
| Profit (loss) carried forward14 | -€11,598 | -€26,864 | €0 | - | - | - |
| Amounts payable17/49 | €180,996 | €187,587 | €166,912 | €166,102 | €157,973 | ▼ 4.9% |
| Amounts payable after more than one year17 | €172,500 | €172,500 | €150,000 | €150,000 | €140,000 | ▼ 6.7% |
| Financial debts170/4 | - | €172,500 | €150,000 | €150,000 | €140,000 | ▼ 6.7% |
| Amounts payable within one year42/48 | €3,143 | €9,582 | €11,131 | €10,021 | €11,813 | ▲ 17.9% |
| Trade debts44 | €0 | - | €161 | €2,870 | €2,159 | ▼ 24.8% |
| Suppliers440/4 | - | - | €161 | €2,870 | €2,159 | ▼ 24.8% |
| Taxes, remuneration and social security45 | - | €7,846 | €10,970 | €7,151 | €9,154 | ▲ 28.0% |
| Taxes450/3 | - | €7,846 | €10,970 | €7,151 | €9,154 | ▲ 28.0% |
| Other amounts payable47/48 | - | €1,735 | €0 | - | €500 | - |
| Accrued charges and deferred income492/3 | - | €5,505 | €5,781 | €6,080 | €6,160 | ▲ 1.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€11,598 | -€15,266 | €12,210 | -€19,209 | €7,017 | ▲ 137% |
| + Depreciation and write-downs630 | €8,826 | €8,826 | €8,826 | €8,826 | €7,403 | ▼ 16.1% |
| Operating cash flow (approximation) | -€2,772 | -€6,441 | €21,035 | -€10,383 | €14,420 | ▲ 239% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €21,585 | €15,823 | -€21,497 | €3,416 | ▲ 116% |
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
18-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €7,017
Net result €7,017 after one loss-making year.
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€19,209
Net result drops to -€19,209, the lowest in the series; recovery starts the following year.
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €12,210
Net result €12,210 after 2 loss-making years.
21-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
15-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Liquidity triplescurrent ratio 69.04
Current ratio from 25.72 to 69.04; short-term debt falls from €9,066 to €3,143.
11-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 11 days late
2019
31-12
Financial
Back to profitnet €3,488
Net result €3,488 after one loss-making year.
10-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Show earlier events
2018
11-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
11-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
11-07
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 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, Dendermonde · 1 establishment unit since 2014
Ground area
499 m²
Building footprint
499 m²
Volume, LiDAR
3,896 m³
2 parcels, Flanders · tallest building 16.4 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Oude Vest (DEN) 84, 9200 Dendermonde
since 20142.236.791.195
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42006D0705/00C005 | Flanders | 265 m² | 1 · 265 m² | 14.0 m · 1 fl. |
| 42006D0705/00K007 | Flanders | 233 m² | 1 · 233 m² | 16.4 m · 4 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 1,307 companies in sector 46423 we hold annual accounts for 810. 526 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
Founded03-11-2014
Fiscal year end31-12
Activities, NACEBEL 2025
46423Wholesale of clothing, excluding workwear and underwear
46424Wholesale trade
46480Wholesale trade
46498Wholesale trade
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
47721Retail sale of footwear
E-invoicing
Reachable via Peppol
Peppol ID
0208:0567548186
Also
9925:BE0567548186
Registered
17-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.