VEEP
ActiveSummary
VEEP has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €156,376 and a net result of €81,553. Equity remains stable across the filed fiscal years (±0.5% per year). Its solvency ranks better than 15% of 2059 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability78▲+26
Solvency39▲+1
Growth58=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity short (current ratio 0.68 against 0.71 in 2024; short-term debt: 43.5% and cash: 9.3% of total assets), and 85.9% of the assets are financed with debt.
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Signals
Six 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
14.1%
Return on assets
7.3%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 2059 sector peers (2025).
NBB · sector comparisonPosition among 2059 sector peers
Solvency
better than 15%
← weakest
strongest →
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 08-05-2026, 84 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
84 d early
2024
57 d early
2023
2 d late
2022
on the day
2021
on the day
2020
3 d early
2019
on the day
← 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 20 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€81,553▲ 761%
2024 · €9,469
Working capital
-€157,189▼ 13.2%
2024 · -€138,900
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
Line20212022202320242025
Operating result€152,248▲ 125%€271,798▲ 78.5%€35,203▼ 87.0%€26,398▼ 25.0%€118,479▲ 349%
Net result€103,217▲ 176%€194,551▲ 88.5%€6,289▼ 96.8%€9,469▲ 50.6%€81,553▲ 761%
Equity€210,514▲ 1.6%€205,065▼ 2.6%€211,354▲ 3.1%€154,823▼ 26.7%€156,376▲ 1.0%
Total assets€1.7m▲ 5.9%€1.7m▼ 4.8%€1.4m▼ 18.2%€1.2m▼ 11.8%€1.1m▼ 6.7%
Debt€1.5m▲ 6.5%€1.4m▼ 5.1%€1.1m▼ 21.2%€1.0m▼ 9.1%€956,277▼ 7.9%
Working capital€25,272▼ 46.9%-€22,540-€57,130▼ 153%-€138,900▼ 143%-€157,189▼ 13.2%
Staff (FTE)4.4▲ 69.2%4.1▼ 6.8%3.5▼ 14.6%2.8▼ 20.0%2.9▲ 3.6%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 349% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€785,638 ▼ 7.1%
Current assets
€327,015 ▼ 5.9%
Equity and liabilities €1.1m
Equity
€156,376 ▲ 1.0%
Debt
€956,277 ▼ 7.9%
Debt's share of the balance-sheet total falls from 87.0% to 85.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€191,979▲
2024 · €98,973
Cash flow
€155,052▲
2024 · €82,045
Current ratio
0.68▼
2024 · 0.71
Quick ratio
0.51▼
2024 · 0.60
Debt to equity
6.12▼
2024 · 6.71
ROE
52.2%▲
2024 · 6.1%
ROA
7.3%▲
2024 · 0.8%
Interest coverage
8.55▲
2024 · 3.90
Debt ≤ 1 year
€484,204▼
2024 · €486,303
Debt > 1 year
€472,073▼
2024 · €551,854
Income taxes
€32,386▲
2024 · €6,907
Staff costs
€188,614▲
2024 · €146,710
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €265,557 | €256,343 | €196,664 | €146,710 | €188,614 | ▲ 28.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €56,866 | €59,415 | €65,920 | €72,575 | €73,499 | ▲ 1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | -€6,829 | €2,354 | €3,632 | €2,068 | €5,399 | ▲ 161% |
| Other operating charges640/8 | €10,840 | €31,295 | €8,052 | €12,658 | €15,134 | ▲ 19.6% |
| Non-recurring operating charges66A | - | - | - | €2,551 | - | - |
| Gross operating margin9900 | €478,680 | €621,205 | €309,472 | €262,961 | €401,125 | ▲ 52.5% |
| Operating profit (loss)9901 | €152,248 | €271,798 | €35,203 | €26,398 | €118,479 | ▲ 349% |
| Financial income75/76B | €20,106 | €21,346 | €15,389 | €15,357 | €17,917 | ▲ 16.7% |
| Recurring financial income75 | €20,106 | €21,346 | €15,389 | €15,357 | €17,917 | ▲ 16.7% |
| Financial charges65/66B | €33,737 | €30,255 | €39,057 | €25,379 | €22,458 | ▼ 11.5% |
| Recurring financial charges65 | €32,702 | €30,255 | €28,401 | €25,379 | €22,458 | ▼ 11.5% |
| Non-recurring financial charges66B | €1,035 | - | €10,655 | - | - | - |
| Profit (loss) for the period before taxes9903 | €138,617 | €262,889 | €11,536 | €16,377 | €113,939 | ▲ 596% |
| Income taxes67/77 | €35,400 | €68,337 | €5,248 | €6,907 | €32,386 | ▲ 369% |
| Profit (loss) for the period9904 | €103,217 | €194,551 | €6,289 | €9,469 | €81,553 | ▲ 761% |
| Profit (loss) for the period to be appropriated9905 | €103,217 | €194,551 | €6,289 | €9,469 | €81,553 | ▲ 761% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.7m | €1.7m | €1.4m | €1.2m | €1.1m | ▼ 6.7% |
| Fixed assets21/28 | €950,710 | €926,065 | €894,936 | €845,577 | €785,638 | ▼ 7.1% |
| Tangible fixed assets22/27 | €949,573 | €924,928 | €893,836 | €844,477 | €784,538 | ▼ 7.1% |
| Land and buildings22 | €923,388 | €872,211 | €821,035 | €769,859 | €718,683 | ▼ 6.6% |
| Plant, machinery and equipment23 | €26,185 | €51,281 | €48,556 | €46,332 | €51,338 | ▲ 10.8% |
| Furniture and vehicles24 | - | €1,436 | €24,245 | €28,286 | €14,517 | ▼ 48.7% |
| Financial fixed assets28 | €1,137 | €1,137 | €1,100 | €1,100 | €1,100 | = |
| Current assets29/58 | €787,720 | €728,622 | €458,388 | €347,403 | €327,015 | ▼ 5.9% |
| Stocks and contracts in progress3 | €72,443 | €75,720 | €83,293 | €58,012 | €82,288 | ▲ 41.8% |
| Stocks30/36 | €72,443 | €75,720 | €83,293 | €58,012 | €82,288 | ▲ 41.8% |
| Amounts receivable within one year40/41 | €137,710 | €127,086 | €230,124 | €133,788 | €137,197 | ▲ 2.5% |
| Trade receivables40 | €132,484 | €121,687 | €200,080 | €100,501 | €61,903 | ▼ 38.4% |
| Other amounts receivable41 | €5,227 | €5,399 | €30,044 | €33,287 | €75,294 | ▲ 126% |
| Current investments50/53 | €99,000 | €99,000 | - | - | - | - |
| Cash at bank and in hand54/58 | €476,891 | €424,641 | €141,888 | €152,317 | €103,575 | ▼ 32.0% |
| Deferred charges and accrued income490/1 | €1,676 | €2,175 | €3,083 | €3,286 | €3,955 | ▲ 20.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.7m | €1.7m | €1.4m | €1.2m | €1.1m | ▼ 6.7% |
| Equity10/15 | €210,514 | €205,065 | €211,354 | €154,823 | €156,376 | ▲ 1.0% |
| Contributions10/11 | €22,500 | €22,500 | €22,500 | €22,500 | €22,500 | = |
| Reserves13 | €188,014 | €182,565 | €188,854 | €132,323 | €133,876 | ▲ 1.2% |
| Non-distributable reserves130/1 | €2,250 | €2,250 | €2,250 | €2,250 | €2,250 | = |
| Reserves not available under the articles1311 | €2,250 | €2,250 | €2,250 | €2,250 | €2,250 | = |
| Distributable reserves133 | €185,764 | €180,315 | €186,604 | €130,073 | €131,626 | ▲ 1.2% |
| Amounts payable17/49 | €1.5m | €1.4m | €1.1m | €1.0m | €956,277 | ▼ 7.9% |
| Amounts payable after more than one year17 | €765,468 | €698,460 | €626,451 | €551,854 | €472,073 | ▼ 14.5% |
| Financial debts170/4 | €765,468 | €695,960 | €623,951 | €549,354 | €472,073 | ▼ 14.1% |
| Other amounts payable178/9 | - | €2,500 | €2,500 | €2,500 | - | - |
| Amounts payable within one year42/48 | €762,448 | €751,162 | €515,519 | €486,303 | €484,204 | ▼ 0.4% |
| Current portion of amounts payable after more than one year42 | €67,095 | €69,508 | €72,008 | €74,598 | €77,281 | ▲ 3.6% |
| Trade debts44 | €130,578 | €61,635 | €134,208 | €108,123 | €36,929 | ▼ 65.8% |
| Suppliers440/4 | €130,578 | €61,635 | €134,208 | €108,123 | €36,929 | ▼ 65.8% |
| Advances received on contracts in progress46 | €426,780 | €326,094 | €267,391 | €277,018 | €216,203 | ▼ 22.0% |
| Taxes, remuneration and social security45 | €37,653 | €66,817 | €39,873 | €24,938 | €73,591 | ▲ 195% |
| Taxes450/3 | €5,576 | €36,223 | €6,662 | €11,998 | €45,709 | ▲ 281% |
| Remuneration and social security454/9 | €32,077 | €30,594 | €33,211 | €12,939 | €27,881 | ▲ 115% |
| Other amounts payable47/48 | €100,341 | €227,108 | €2,038 | €1,627 | €80,200 | ▲ 4,830% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €103,217 | €194,551 | €6,289 | €9,469 | €81,553 | ▲ 761% |
| + Depreciation and write-downs630 | €56,866 | €59,415 | €65,920 | €72,575 | €73,499 | ▲ 1.3% |
| Operating cash flow (approximation) | €160,082 | €253,967 | €72,208 | €82,045 | €155,052 | ▲ 89.0% |
| Investment in fixed assets (approximation) | - | -€34,770 | -€34,791 | -€23,217 | -€13,561 | ▲ 41.6% |
| Change in cash | - | -€52,249 | -€282,753 | €10,428 | -€48,741 | ▼ 567% |
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
08-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
04-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
02-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 2 days late
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €194,551 ▲88.5%
Operating result €271,798, net result €194,551, both a record.
31-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Back to profitnet €3,267
Net result €3,267 after one loss-making year.
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
14-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 14 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Namur · 1 establishment unit since 2006
Ground area
1,186 m²
Parcel 92136B0019/00E000, Wallonia. Linked by address, not a title deed.
1 establishment unit
VEEP
since 20062.156.259.916
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92136B0019/00E000 | Wallonia | 1,186 m² | - | - |
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.
Recognitions · licences · registrations
Recognised contractor
1 categoryVEEP SRL43123
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Of 20,025 companies in sector 43320 we hold annual accounts for 9,134. 7,590 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
Founded14-09-2006
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
47551Retail sale of household furniture
Scores and ratios are computed by Checked and are not a credit decision.