VDV PROJECTS
ActiveSummary
VDV PROJECTS has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €145,113 and a net result of €47,735. Equity is growing by ~37.3% per year across the filed fiscal years. Its solvency ranks better than 34% of 160 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability76▼-1
Solvency42▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity short (current ratio 0.26 against 0.2 in 2023; short-term debt: 37.1% and cash: 3.4% of total assets), and 83.3% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 51
Relative position
BE, all sectors
reference
Air transport (NACE 51)
about 10% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 10-07-2025, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
21 d early
2023
21 d early
2022
on the day
2021
11 d early
2020
16 d late
2019
27 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 2 days before the deadline; the sector median for financial year 2024 is 10 days before the deadline, and 35% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€145,113▲ 49.0%
2023 · €97,378
Total assets
€871,479▲ 27.3%
2023 · €684,837
Net result
€47,735▲ 10.3%
2023 · €43,274
Working capital
-€240,303▲ 22.4%
2023 · -€309,754
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 51, Air transport, 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€15,002▲ 13.5%€22,776▲ 51.8%€13,486▼ 40.8%€68,260▲ 406%€86,497▲ 26.7%
Net result€6,025within the sector's middle half▲ 9.9%€14,273within the sector's middle half▲ 137%€6,616within the sector's middle half▼ 53.6%€43,274above the sector's middle half▲ 554%€47,735above the sector's middle half▲ 10.3%
Equity€33,215within the sector's middle half▲ 22.2%€47,489within the sector's middle half▲ 43.0%€54,105within the sector's middle half▲ 13.9%€97,378within the sector's middle half▲ 80.0%€145,113above the sector's middle half▲ 49.0%
Total assets€448,456above the sector's middle half▼ 7.2%€410,408above the sector's middle half▼ 8.5%€404,107above the sector's middle half▼ 1.5%€684,837above the sector's middle half▲ 69.5%€871,479above the sector's middle half▲ 27.3%
Debt€415,240▼ 8.9%€362,919▼ 12.6%€350,002▼ 3.6%€587,458▲ 67.8%€726,366▲ 23.6%
Working capital-€84,022▲ 37.0%-€68,907▲ 18.0%-€85,856▼ 24.6%-€309,754▼ 261%-€240,303▲ 22.4%
Solvency7.4%below the sector's middle half▲ 1.8pp11.6%within the sector's middle half▲ 4.2pp13.4%within the sector's middle half▲ 1.8pp14.2%within the sector's middle half▲ 0.8pp16.7%within the sector's middle half▲ 2.4pp
above
within
below
the middle half (P25 to P75) of NACE 51, Air transport, 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
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 27% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €871,479
Fixed assets
€788,633 ▲ 30.2%
Current assets
€82,846 ▲ 4.8%
Equity and liabilities €871,479
Equity
€145,113 ▲ 49.0%
Debt
€726,366 ▲ 23.6%
Debt's share of the balance-sheet total falls from 85.8% to 83.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€158,557▲
2023 · €120,156
Cash flow
€119,795▲
2023 · €95,170
Current ratio
0.26▲
2023 · 0.20
Debt to equity
5.01▼
2023 · 6.03
ROE
32.9%▼
2023 · 44.4%
ROA
5.5%▼
2023 · 6.3%
Interest coverage
8.91▼
2023 · 15.20
Debt ≤ 1 year
€323,149▼
2023 · €388,815
Debt > 1 year
€389,136▲
2023 · €196,996
Income taxes
€20,965▲
2023 · €17,080
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,613 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 97% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
2.0%
stopped otherwise
97%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,662 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 2,613 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 | €86,347 | €57,655 | €40,576 | €51,896 | €72,060 | ▲ 38.9% |
| Other operating charges640/8 | - | €187 | €190 | €199 | €148 | ▼ 25.7% |
| Gross operating margin9900 | €101,529 | €80,618 | €54,253 | €120,355 | €158,705 | ▲ 31.9% |
| Operating profit (loss)9901 | €15,002 | €22,776 | €13,486 | €68,260 | €86,497 | ▲ 26.7% |
| Financial income75/76B | - | €0 | - | - | €0 | - |
| Recurring financial income75 | - | €0 | - | - | €0 | - |
| Financial charges65/66B | - | €3,794 | €3,223 | €7,906 | €17,798 | ▲ 125% |
| Recurring financial charges65 | €6,116 | €3,794 | €3,223 | €7,906 | €17,798 | ▲ 125% |
| Profit (loss) for the period before taxes9903 | €9,510 | €18,982 | €10,263 | €60,354 | €68,699 | ▲ 13.8% |
| Income taxes67/77 | €3,485 | €4,709 | €3,647 | €17,080 | €20,965 | ▲ 22.7% |
| Profit (loss) for the period9904 | €6,025 | €14,273 | €6,616 | €43,274 | €47,735 | ▲ 10.3% |
| Profit (loss) for the period to be appropriated9905 | €6,025 | €14,273 | €6,616 | €43,274 | €47,735 | ▲ 10.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €448,456 | €410,408 | €404,107 | €684,837 | €871,479 | ▲ 27.3% |
| Fixed assets21/28 | €306,933 | €287,262 | €256,897 | €605,775 | €788,633 | ▲ 30.2% |
| Tangible fixed assets22/27 | €306,933 | €287,262 | €256,897 | €605,775 | €788,633 | ▲ 30.2% |
| Land and buildings22 | - | €155,395 | €146,723 | €518,349 | €722,141 | ▲ 39.3% |
| Plant, machinery and equipment23 | - | €39,130 | €30,924 | €24,997 | €19,047 | ▼ 23.8% |
| Furniture and vehicles24 | - | €2,208 | €1,779 | €1,089 | €572 | ▼ 47.5% |
| Other tangible fixed assets26 | - | €90,529 | €77,471 | €61,340 | €46,874 | ▼ 23.6% |
| Current assets29/58 | €141,523 | €123,146 | €147,210 | €79,062 | €82,846 | ▲ 4.8% |
| Amounts receivable within one year40/41 | €106,405 | €68,305 | €61,369 | €48,979 | €52,308 | ▲ 6.8% |
| Trade receivables40 | - | €64,378 | €44,049 | €35,686 | €39,575 | ▲ 10.9% |
| Other amounts receivable41 | - | €3,926 | €17,320 | €13,292 | €12,733 | ▼ 4.2% |
| Cash at bank and in hand54/58 | €35,118 | €54,842 | €84,782 | €28,736 | €29,506 | ▲ 2.7% |
| Deferred charges and accrued income490/1 | - | - | €1,058 | €1,346 | €1,031 | ▼ 23.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €448,456 | €410,408 | €404,107 | €684,837 | €871,479 | ▲ 27.3% |
| Equity10/15 | €33,215 | €47,489 | €54,105 | €97,378 | €145,113 | ▲ 49.0% |
| Contributions10/11 | - | €43,600 | €43,600 | €43,600 | €43,600 | = |
| Reserves13 | - | €14,273 | €20,889 | €53,778 | €101,513 | ▲ 88.8% |
| Distributable reserves133 | - | €14,273 | €20,889 | €53,778 | €101,513 | ▲ 88.8% |
| Profit (loss) carried forward14 | -€10,385 | -€10,385 | -€10,385 | - | - | - |
| Amounts payable17/49 | €415,240 | €362,919 | €350,002 | €587,458 | €726,366 | ▲ 23.6% |
| Amounts payable after more than one year17 | €189,696 | €169,381 | €115,227 | €196,996 | €389,136 | ▲ 97.5% |
| Financial debts170/4 | - | €169,381 | €115,227 | €196,996 | €389,136 | ▲ 97.5% |
| Amounts payable within one year42/48 | €225,545 | €192,053 | €233,066 | €388,815 | €323,149 | ▼ 16.9% |
| Current portion of amounts payable after more than one year42 | - | €20,028 | €12,623 | €12,814 | €1,578 | ▼ 87.7% |
| Trade debts44 | €130,412 | €90,374 | €136,098 | €217,924 | €137,413 | ▼ 36.9% |
| Suppliers440/4 | - | €90,374 | €136,098 | €217,924 | €137,413 | ▼ 36.9% |
| Taxes, remuneration and social security45 | - | €1,709 | €1,841 | €14,776 | €22,180 | ▲ 50.1% |
| Taxes450/3 | - | €1,709 | €1,841 | €14,776 | €22,180 | ▲ 50.1% |
| Other amounts payable47/48 | - | €79,942 | €82,504 | €143,301 | €161,978 | ▲ 13.0% |
| Accrued charges and deferred income492/3 | - | €1,485 | €1,709 | €1,647 | €14,080 | ▲ 755% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,025 | €14,273 | €6,616 | €43,274 | €47,735 | ▲ 10.3% |
| + Depreciation and write-downs630 | €86,347 | €57,655 | €40,576 | €51,896 | €72,060 | ▲ 38.9% |
| Operating cash flow (approximation) | €92,372 | €71,928 | €47,192 | €95,170 | €119,795 | ▲ 25.9% |
| Investment in fixed assets (approximation) | - | -€37,983 | -€10,212 | -€400,774 | -€254,918 | ▲ 36.4% |
| Change in cash | - | €19,724 | €29,941 | -€56,046 | €770 | ▲ 101% |
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
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €47,735 ▲10.3%
Operating result €86,497, net result €47,735, both a record.
31-12
Financial
Equity above €100,000Eq €145,113 ▲49%
6 profitable years in a row build equity to €145,113.
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
16-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 16 days late
2020
27-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 27 days late
2019
31-12
Financial
Back to profitnet €5,482
Net result €5,482 after one loss-making year.
27-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 58 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
2016
27-06
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 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, Aalst · 1 establishment unit since 2005
Ground area
234 m²
Building footprint
193 m²
Volume, LiDAR
1,496 m³
Parcel 41342B0172/00C002, Flanders · tallest building 9.8 m, ±3 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
VDV PROJECTS
since 20052.149.258.494
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41342B0172/00C002 | Flanders | 234 m² | 1 · 193 m² | 9.8 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.
Similar companies · same sector, comparable size
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Jung Distribution Belgique
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Golden Trading
BE 0426.840.382
Liège · Eq €147,346
AURIS
BE 0476.182.205
Leuven · Eq €142,318
Of 623 companies in sector 51430 we hold annual accounts for 524. 373 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
Founded03-10-2005
Fiscal year end31-12
Activities, NACEBEL 2025
46431Wholesale of electrical household appliances and audio-video equipment
62900Other information technology and computer services
62100Computer programming
62200Computer consultancy and computer facilities management
63100Computing infrastructure, data processing, hosting and related activities
82990Other business support services
Contact
E-mail
bertvdvmail@gmail.com
E-invoicing
Reachable via Peppol
Peppol ID
0208:0876399552
Also
9925:BE0876399552
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.