VEBA
ActiveSummary
VEBA has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.45M and a net result of €11k. Equity remains stable across the filed fiscal years (±1.1% per year). Its solvency ranks better than 81% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▼-1
Solvency99▼-1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110k at 30 days acceptable
Liquidity short (current ratio 0.37 against 0.18 in 2024; short-term debt: 25.5% and cash: 9.2% of total assets), and 26.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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
73.9%
Return on assets
0.6%
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 · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 12-08-2026, 12 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
12 d late
2024
29 d late
2023
29 d late
2022
29 d late
2021
31 d late
2020
27 d late
2019
61 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, abbreviated schema
Equity
€1.45M▲ 0.8%
2024 · €1.44M
2018: €1.34Mlowest in 8 years
2019: €1.35M▲ +1.1% vs 2018
2020: €1.43M▲ +5.7% vs 2019
2021: €1.43M▲ +0.3% vs 2020
2022: €1.43M▼ -0.2% vs 2021
2023: €1.42M▼ -0.6% vs 2022
2024: €1.44M▲ +1.2% vs 2023
2025: €1.45M▲ +0.8% vs 2024highest in 8 years
2018 → 2025
Total assets
€1.96M▲ 4.9%
2024 · €1.87M
2018: €1.99M
2019: €2.05M▲ +2.9% vs 2018
2020: €2.09M▲ +1.8% vs 2019
2021: €2.09M▲ +0.1% vs 2020highest in 8 years
2022: €1.92M▼ -7.9% vs 2021
2023: €1.89M▼ -1.8% vs 2022
2024: €1.87M▼ -0.6% vs 2023lowest in 8 years
2025: €1.96M▲ +4.9% vs 2024
2018 → 2025
Net result
€11k▼ 33.4%
2024 · €17k
2018: €72k
2019: €15k▼ -79.6% vs 2018
2020: €77k▲ +427% vs 2019highest in 8 years
2021: €4k▼ -94.4% vs 2020
2022: €-3k▼ -164% vs 2021
2023: €-8k▼ -184% vs 2022lowest in 8 years
2024: €17k▲ +317% vs 2023
2025: €11k▼ -33.4% vs 2024
2018 → 2025
Working capital
€-316k▼ 37.8%
2024 · €-229k
2018: €-454k
2019: €-608k▼ -34.0% vs 2018lowest in 8 years
2020: €-317k▲ +47.8% vs 2019
2021: €-282k▲ +11.1% vs 2020
2022: €-288k▼ -2.2% vs 2021
2023: €-276k▲ +4.4% vs 2022
2024: €-229k▲ +16.8% vs 2023highest in 8 years
2025: €-316k▼ -37.8% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.43M-€1.43M▼ 0.2%€1.42M▼ 0.6%€1.44M▲ 1.2%€1.45M▲ 0.8%
2021: €1.43M
2022: €1.43M▼ -0.2% vs 2021
2023: €1.42M▼ -0.6% vs 2022lowest in 5 years
2024: €1.44M▲ +1.2% vs 2023
2025: €1.45M▲ +0.8% vs 2024highest in 5 years
Operating result€22k-€37k▲ 62.4%€6k▼ 82.2%€27k▲ 314%€25k▼ 6.9%
2021: €22k
2022: €37k▲ +62.4% vs 2021highest in 5 years
2023: €6k▼ -82.2% vs 2022lowest in 5 years
2024: €27k▲ +314% vs 2023
2025: €25k▼ -6.9% vs 2024
Net result€4k-€-3k€-8k▼ 184%€17k€11k▼ 33.4%
2021: €4k
2022: €-3k▼ -164% vs 2021
2023: €-8k▼ -184% vs 2022lowest in 5 years
2024: €17k▲ +317% vs 2023highest in 5 years
2025: €11k▼ -33.4% vs 2024
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 7% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.96M
Fixed assets
€1.78M ▼ 2.3%
Current assets
€184k ▲ 257%
Equity and liabilities €1.96M
Equity
€1.45M ▲ 0.8%
Debt
€514k ▲ 18.4%
Debt's share of the balance-sheet total rises from 23.1% to 26.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€128k▼
2024 · €128k
Cash flow
€114k▼
2024 · €118k
Current ratio
0.37▲
2024 · 0.18
Debt to equity
0.35▲
2024 · 0.30
ROE
0.8%▼
2024 · 1.2%
ROA
0.6%▼
2024 · 0.9%
Interest coverage
9.44▼
2024 · 13.48
Debt ≤ 1 year
€500k▲
2024 · €281k
Income taxes
€173▼
2024 · €174
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 · 41 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.87M€1.96M▲
Fixed assets21/28€1.82M€1.78M▼
Tangible fixed assets22/27€1.82M€1.78M▼
Land and buildings22€1.81M€1.78M▼
Furniture and vehicles24€8k€3k▼
Financial fixed assets28€300€300=
Current assets29/58€52k€184k▲
Amounts receivable within one year40/41€0-
Trade receivables40€0-
Other amounts receivable41€0-
Cash at bank and in hand54/58€49k€181k▲
Deferred charges and accrued income490/1€3k€3k▲
Equity and liabilities
Total equity and liabilities10/49€1.87M€1.96M▲
Equity10/15€1.44M€1.45M▲
Contributions10/11€1.52M€1.52M=
Capital10€1.52M€1.52M=
Issued capital100€1.52M€1.52M=
Profit (loss) carried forward14€-82k€-71k▲
Amounts payable17/49€434k€514k▲
Amounts payable within one year42/48€281k€500k▲
Trade debts44€567€202▼
Suppliers440/4€567€202▼
Taxes, remuneration and social security45€174€130▼
Taxes450/3€174€130▼
Other amounts payable47/48€280k€500k▲
Accrued charges and deferred income492/3€153k€13k▼
Income statement
Code20242025
Non-recurring operating income76A€3k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€101k€103k▲
Other operating charges640/8€25k€28k▲
Gross operating margin9900€153k€156k▲
Operating profit (loss)9901€27k€25k▼
Financial income75/76B€0€147▲
Recurring financial income75€0€147▲
Financial charges65/66B€9k€14k▲
Recurring financial charges65€9k€14k▲
Profit (loss) for the period before taxes9903€17k€12k▼
Income taxes67/77€174€173▼
Profit (loss) for the period9904€17k€11k▼
Profit (loss) for the period to be appropriated9905€17k€11k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-82k€-71k▲
Profit (loss) brought forward from the previous period14P€-100k€-82k▲
The notes to these accounts (5 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €588 | €3k | - | - |
| Goods, raw materials, services and sundry goods60/61 | €0 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €92k | €93k | €98k | €101k | €103k | ▲ 1.7% |
| Other operating charges640/8 | €23k | €23k | €25k | €25k | €28k | ▲ 11.7% |
| Gross operating margin9900 | €137k | €152k | €130k | €153k | €156k | ▲ 1.8% |
| Operating profit (loss)9901 | €22k | €37k | €6k | €27k | €25k | ▼ 6.9% |
| Financial income75/76B | €944 | €2k | €308 | €0 | €147 | ▲ 50,662% |
| Recurring financial income75 | €944 | €2k | €308 | €0 | €147 | ▲ 50,662% |
| Financial charges65/66B | €19k | €41k | €15k | €9k | €14k | ▲ 42.7% |
| Recurring financial charges65 | €19k | €41k | €15k | €9k | €14k | ▲ 42.7% |
| Profit (loss) for the period before taxes9903 | €4k | €-3k | €-8k | €17k | €12k | ▼ 33.1% |
| Income taxes67/77 | €81 | €140 | €158 | €174 | €173 | ▼ 0.7% |
| Profit (loss) for the period9904 | €4k | €-3k | €-8k | €17k | €11k | ▼ 33.4% |
| Profit (loss) for the period to be appropriated9905 | €4k | €-3k | €-8k | €17k | €11k | ▼ 33.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.09M | €1.92M | €1.89M | €1.87M | €1.96M | ▲ 4.9% |
| Fixed assets21/28 | €1.86M | €1.85M | €1.84M | €1.82M | €1.78M | ▼ 2.3% |
| Tangible fixed assets22/27 | €1.86M | €1.85M | €1.84M | €1.82M | €1.78M | ▼ 2.3% |
| Land and buildings22 | €1.84M | €1.84M | €1.83M | €1.81M | €1.78M | ▼ 2.0% |
| Furniture and vehicles24 | €19k | €15k | €11k | €8k | €3k | ▼ 62.6% |
| Financial fixed assets28 | €300 | €300 | €300 | €300 | €300 | = |
| Current assets29/58 | €223k | €69k | €44k | €52k | €184k | ▲ 257% |
| Amounts receivable within one year40/41 | €0 | €464 | €1k | €0 | - | - |
| Trade receivables40 | €0 | €0 | €721 | €0 | - | - |
| Other amounts receivable41 | €0 | €464 | €464 | €0 | - | - |
| Current investments50/53 | €200k | €24k | €0 | - | - | - |
| Cash at bank and in hand54/58 | €21k | €44k | €40k | €49k | €181k | ▲ 270% |
| Deferred charges and accrued income490/1 | €2k | €2k | €3k | €3k | €3k | ▲ 5.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.09M | €1.92M | €1.89M | €1.87M | €1.96M | ▲ 4.9% |
| Equity10/15 | €1.43M | €1.43M | €1.42M | €1.44M | €1.45M | ▲ 0.8% |
| Contributions10/11 | €1.52M | €1.52M | €1.52M | €1.52M | €1.52M | = |
| Capital10 | - | €1.52M | €1.52M | €1.52M | €1.52M | = |
| Issued capital100 | - | €1.52M | €1.52M | €1.52M | €1.52M | = |
| Profit (loss) carried forward14 | €-89k | €-92k | €-100k | €-82k | €-71k | ▲ 13.9% |
| Amounts payable17/49 | €653k | €490k | €463k | €434k | €514k | ▲ 18.4% |
| Amounts payable after more than one year17 | €30k | €0 | - | - | - | - |
| Financial debts170/4 | €30k | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €505k | €358k | €320k | €281k | €500k | ▲ 78.0% |
| Trade debts44 | €1k | €245 | €5k | €567 | €202 | ▼ 64.4% |
| Suppliers440/4 | €1k | €245 | €5k | €567 | €202 | ▼ 64.4% |
| Taxes, remuneration and social security45 | €81 | €0 | €66 | €174 | €130 | ▼ 25.7% |
| Taxes450/3 | €81 | €0 | €66 | €174 | €130 | ▼ 25.7% |
| Other amounts payable47/48 | €504k | €357k | €314k | €280k | €500k | ▲ 78.4% |
| Accrued charges and deferred income492/3 | €117k | €132k | €143k | €153k | €13k | ▼ 91.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4k | €-3k | €-8k | €17k | €11k | ▼ 33.4% |
| + Depreciation and write-downs630 | €92k | €93k | €98k | €101k | €103k | ▲ 1.7% |
| Operating cash flow (approximation) | €96k | €90k | €90k | €118k | €114k | ▼ 3.4% |
| Investment in fixed assets (approximation) | - | €-81k | €-89k | €-81k | €-62k | ▲ 24.2% |
| Change in cash | - | €23k | €-3k | €9k | €132k | ▲ 1,437% |
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
12-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 12 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Back to profitnet €17k
Net result €17k after 2 loss-making years.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-12
Financial
Weakest financial yearnet €-8k
Net result drops to €-8k, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 27 days late
2020
31-12
Financial
Highest result since 2018net €77k ▲427%
Operating result €99k, net result €77k, both a record.
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 61 days late
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 31 days late
2018
10-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 71 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Grimbergen
Ground area
1,796 m²
Building footprint
291 m²
Volume, LiDAR
1,605 m³
Parcel 23025I0271/00D002, Flanders · tallest building 7.7 m, ±2 floors. Linked by address, not a title deed.
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23025I0271/00D002 | Flanders | 1,796 m² | 1 · 291 m² | 7.7 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 12,020 companies in sector 68203 we hold annual accounts for 5,986. 3,883 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded07-05-2009
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
Scores and ratios are computed by Checked and are not a credit decision.