Vega Systems Management
ActiveVega Systems Management has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €172k and a net result of €22k. Equity is growing by ~9.3% per year across the filed fiscal years. Its solvency ranks better than 91% of 678 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
95
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability84▲+3
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €16k at 30 days acceptable
Liquidity ample (current ratio 13.55 against 4.8 in 2024; short-term debt: 5.4% and cash: 57.1% of total assets), and 5.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 58
Relative position
BE, all sectors
reference
Sector 58
lower
← 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
94.6%
Return on assets
12.2%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 29-04-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
22 d early
2023
1 d early
2022
2 d early
2021
30 d early
2020
1 d early
2019
on the day
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
23-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€172k▲ 14.8%
2024 · €150k
2018: €96k
2019: €94k
2020: €97k
2021: €116k
2022: €135k
2023: €133k
2024: €150k
2018 → 2025
Total assets
€182k▲ 3.5%
2024 · €176k
2018: €114k
2019: €117k
2020: €116k
2021: €135k
2022: €159k
2023: €156k
2024: €176k
2018 → 2025
Net result
€22k▲ 28.7%
2024 · €17k
2018: €-25k
2019: €-2k
2020: €2k
2021: €19k
2022: €19k
2023: €-3k
2024: €17k
2018 → 2025
Working capital
€124k▲ 27.0%
2024 · €98k
2018: €16k
2019: €16k
2020: €18k
2021: €42k
2022: €69k
2023: €71k
2024: €98k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€116k-€135k▲ 16.6%€133k▼ 1.9%€150k▲ 13.0%€172k▲ 14.8%
Operating result€23k-€29k▲ 26.6%€3k▼ 90.5%€27k▲ 881%€31k▲ 16.4%
Net result€19k-€19k▼ 0.7%€-3k€17k€22k▲ 28.7%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 16% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €182k
Fixed assets
€48k▼ 8.4%
Current assets
€134k▲ 8.5%
Equity and liabilities €182k
Equity
€172k▲ 14.8%
Debt
€10k▼ 62.0%
The debt ratio falls from 14.8% to 5.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€43k▲
2024 · €40k
Cash flow
€34k▲
2024 · €30k
Solvency
94.6%▲
2024 · 85.2%
Current ratio
13.55▲
2024 · 4.80
Quick ratio
13.55▲
2024 · 4.80
Debt / equity
0.06▼
2024 · 0.17
ROE
12.9%▲
2024 · 11.5%
ROA
12.2%▲
2024 · 9.8%
Interest coverage
41.82▲
2024 · 27.17
Debt
€10k▼
2024 · €26k
Debt ≤ 1 year
€10k▼
2024 · €26k
Income taxes
€10k▲
2024 · €8k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€176k€182k▲
Fixed assets21/28€52k€48k▼
Tangible fixed assets22/27€52k€48k▼
Land and buildings22€37k€31k▼
Plant, machinery and equipment23€12k€13k▲
Furniture and vehicles24€4k€4k▲
Financial fixed assets28€120€120=
Current assets29/58€124k€134k▲
Amounts receivable within one year40/41€16k€27k▲
Trade receivables40€16k€27k▲
Other amounts receivable41-€15
Current investments50/53€30k€0▼
Cash at bank and in hand54/58€75k€104k▲
Deferred charges and accrued income490/1€2k€3k▲
Equity and liabilities
Total equity and liabilities10/49€176k€182k▲
Equity10/15€150k€172k▲
Contributions10/11€7k€7k=
Reserves13€121k€144k▲
Tax-exempt reserves132€22k€22k=
Distributable reserves133€99k€121k▲
Profit (loss) carried forward14€22k€22k▲
Amounts payable17/49€26k€10k▼
Amounts payable after more than one year17€0-
Financial debts170/4€0-
Amounts payable within one year42/48€26k€10k▼
Current portion of amounts payable after more than one year42€1k€0▼
Trade debts44€10k€4k▼
Suppliers440/4€10k€4k▼
Taxes, remuneration and social security45€14k€4k▼
Taxes450/3€12k€3k▼
Remuneration and social security454/9€2k€2k=
Other amounts payable47/48€91€1k▲
Accrued charges and deferred income492/3€291€0▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€13k€12k▼
Other operating charges640/8€3k€2k▼
Gross operating margin9900€42k€46k▲
Operating profit (loss)9901€27k€31k▲
Financial income75/76B€260€2k▲
Recurring financial income75€260€2k▲
Financial charges65/66B€1k€1k▼
Recurring financial charges65€1k€1k▼
Profit (loss) for the period before taxes9903€26k€32k▲
Income taxes67/77€8k€10k▲
Profit (loss) for the period9904€17k€22k▲
Profit (loss) for the period to be appropriated9905€17k€22k▲
Appropriation of the result
Profit (loss) to be appropriated9906€39k€44k▲
Profit (loss) brought forward from the previous period14P€22k€22k=
Transfer to equity691/2€17k€22k▲
To other reserves6921€17k€22k▲
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
29-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Highest result since 2018net €22k ▲28.7%
Operating result €31k, net result €22k, both a record.
30-09
Financial
Liquidity triplescurrent ratio 13.55
Current ratio from 4.80 to 13.55; short-term debt falls from €26k to €10k.
30-09
Financial
Equity above €150kEq €172k ▲14.8%
2 profitable years in a row build equity to €172k.
08-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Back to profitnet €17k
Net result €17k after one loss-making year.
29-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Equity above €100kEq €116k ▲20%
2 profitable years in a row build equity to €116k.
29-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Back to profitnet €2k
Net result €2k after 2 loss-making years.
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
28-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
09-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Mechelen · 1 establishment unit since 2004
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Varenbosstraat 112800 MechelenGround area
233 m²
Building footprint
88 m²
Volume, LiDAR
657 m³
Parcel 12402C0051/00A012, Flanders · tallest building 10.4 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
VeGaSm
since 20042.149.047.965
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12402C0051/00A012 | Flanders | 233 m² | 1 · 88 m² | 10.4 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 360 EUR awarded| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 360 EUR | 0 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 1,284 companies in sector 58290 we hold annual accounts for 593. 468 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded12-10-2004
Fiscal year end30-09
Activities, NACEBEL
58290Other software publishing
72210
Sources
Crossroads Bank for EnterprisesNational Bank · 21 filingsAddress and cadastre registers
Data from official sources, last processed on 23-09-2026. Scores and ratios are computed by Checked and are not a credit decision.