Equity
€591,794 ▲ 0.5%
VELMAR has made a profit without a break since 2013.
VELMAR
Lifetime
19 annual accounts with figures on one time axis, 22 filings since 2004Gross marginpeak €401,798 (2019)
€302,922▲ 19.1%
Resultlowest -€1,300 (2012)
€7,849▲ 865%
Equitypeak €591,794 (2025)
€591,794▲ 0.5%
Debts
€2.6m▲ 6.5%
Staffpeak 6.4 FTE (2019)
3.5 FTE▲ 16.7%
Board2 names since 2015
2 directorsPATER and 1 other
Owners
100%PATER
Documentsfilings and deeds
24-02-202624 days late
2025abbreviated format
Gross margin from €254,439 to €302,922Result from €813 to €7,849Staff from 3 FTE to 3.5 FTE
Key points
from the 2025 annual accountsDebts
€2.6m 82% of the balance sheet
Financial debts 22%Suppliers 31%Taxes and wages 2%Other 44%
Of this, €2.4m falls due within a year.
Staff
3.5 FTE from 6.4 in 2019
Between 2019 and 2025, 45% of the full-time equivalents disappeared.
2025 accounts filed 24 days after the deadline
Checked score
79
Excellent
Financially stronger than 28% of micro companies in wholesale trade (NACE 46)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.5% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.4% across 26,900 companies (NACE 46, micro).
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.8%
01-2025: 1.1%▲ +0.3 percentage points vs 12-2024
02-2025: 1.5%▲ +0.4 percentage points vs 01-2025highest value
03-2025: 0.4%▼ -1.1 percentage points vs 02-2025lowest value
04-2025: 0.4%● unchanged vs 03-2025lowest value
05-2025: 0.4%● unchanged vs 04-2025lowest value
06-2025: 0.4%● unchanged vs 05-2025
07-2025: 0.4%● unchanged vs 06-2025
08-2025: 0.4%● unchanged vs 07-2025
09-2025: 0.5%▲ +0.1 percentage points vs 08-2025
10-2025: 0.5%● unchanged vs 09-2025
11-2025: 0.5%● unchanged vs 10-2025
12-2025: 0.6%▲ +0.1 percentage points vs 11-2025
01-2026: 0.8%▲ +0.2 percentage points vs 12-2025
02-2026: 1.2%▲ +0.4 percentage points vs 01-2026
03-2026: 0.4%▼ -0.8 percentage points vs 02-2026
04-2026: 0.4%● unchanged vs 03-2026
05-2026: 0.4%● unchanged vs 04-2026
06-2026: 0.4%● unchanged vs 05-2026
07-2026: 0.4%● unchanged vs 06-2026
08-2026: 0.4%● unchanged vs 07-2026
09-2026: 0.5%▲ +0.1 percentage points vs 08-2026
10-2026: 0.5%● unchanged vs 09-2026
11-2026: 0.5%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Liquidity: current ratio 1.33, cash €45,055
Last filed accounts filed 25 days late; 1 of the last 3 accounts late
lowers risk
Founded in 2003
Size: 3.5 FTE, total assets €3.2m
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, micro). It does better than 30% of them on solvency, 12% on liquidity, 25% on profitability and 43% on growth.
The bankruptcy probability was computed on 05-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 30-06-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 3,984 companies had the same profile as VELMAR has now. Each dot stands for 10 companies, two years later.
96.5%
were still trading
2.3%
stopped another way
1.1%
went bankrupt
That fits the bankruptcy probability of VELMAR itself: 0.5% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,984 companies, not a prediction for VELMAR. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €45,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.33 (1.42 in 2024), below the usual 1.5. Short-term debt is 74.5% and cash 1.4% of total assets. 81.6% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 24 days late
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 24-02-2026, 24 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
24 days late
2024
1 day late
2023
30 days late
2022
1 day late
2021
25 days late
2020
1 day early
2019
23 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 8 days after the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-06-2026 is due by 31-01-2027. Nothing is late today. The company usually files around 24 February (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-06-2026 year end06-11-2026 today31-01-2027 deadline
Board and ownership
P
PATER
Director, UYTTERHAEGEN Miguel Eddy Serge, since 10-07-2015
- PATER 100%equity €105,711 (2025) · 2025 annual accounts of PATER
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0859965277
Changes of role: PATER (director) and DE VROE Lien (director)
Permanent representative: UYTTERHAEGEN Miguel Eddy Serge · General meeting of 21-12-2023 · Gazette deed
Incorporation
published on 30-06-2003 · Gazette deed
First establishment
VELMAR BVBA, Jan Samijnstraat 12, Ghent
Comparable companies
same main activity, similar in size and age| Company | Total assets | Gross margin | Solvency | Staff |
|---|---|---|---|---|
| VELMAR Ghent | €3.2m | €0.3m | 18.4% | 3.5 |
| FITTING ROOM Grimbergen | €2.9m | €0.6m | 63.0% | 2.9 |
| D.T.O. Kortrijk | €2.2m | €0.6m | 15.2% | 4.5 |
| LOOKS AGENCIES Antwerp | €2.2m | €0.7m | 91.2% | 4 |
| BRANDING AND TRADING PROJECTS Ghent | €1.8m | €0.8m | 81.1% | 5.1 |
| MOROBÉ Ghent | €2.9m | €1.2m | 49.7% | 5.5 |
| GOUDEN SCHAAR Tienen | €1.6m | €0.4m | 71.5% | 3.4 |
These companies have the same main activity as VELMAR: agents in the wholesale of textiles, clothing, fur, footwear and leather goods (NACE 46160). They are comparable in size and age: total assets between €1.6m and €2.9m, founded between 2001 and 2011.
Official details
Source: KBO- Status
- Active since 20-06-2003Normal situation
- Activity
- Agents in the wholesale of textiles, clothing, fur, footwear and leather goodsNACE 46160and 3 others
- Joint committees
- 215White-collar workers in the clothing and garment industry
- 109Clothing and garment industry · annual accounts 30-06-2025
- Establishment unit
- 2.132.293.6899050 Ghent, since 18-06-2003
- Financial year end
- 30 June
- Peppol
- Reachable since 05-07-2025
Annual accounts to 30-06-2025
- Turnover
- ≈ €1.5mestimated
- Total assets
- €3.2m▲ 5.3%
- Employeeson 30-06-2025
- 4▲ 33.3%
- Filing
- Filed on 24-02-2026
Insights on VELMAR
VELMAR files the abbreviated format. That format states no turnover. The gross margin rose from €4,129 in 2007 to €302,922 in 2025.
PATER holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about VELMAR
- What is the company number of VELMAR?
- The company number of VELMAR is 0859.965.277. The VAT number is the same number with BE in front: BE 0859.965.277.
- Where is VELMAR based?
- The registered office is at Jan Samijnstraat 12, 9050 Ghent.Company details
- What does VELMAR do?
- According to the KBO register, the main activity is agents in the wholesale of textiles, clothing, fur, footwear and leather goods (NACE 46160).
- What is the legal form of VELMAR?
- VELMAR is a private limited company (BV).
- When was VELMAR founded?
- VELMAR was founded on 20-06-2003.
- Is VELMAR still active?
- Yes, VELMAR is an active enterprise in the KBO register.
- How many employees does VELMAR have?
- VELMAR had an average of 3.5 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does VELMAR fall under?
- In its 30-06-2025 annual accounts, VELMAR states joint committees 215 (White-collar workers in the clothing and garment industry) and 109 (Clothing and garment industry).
- What is the turnover of VELMAR?
- The turnover in financial year 2025 is ≈ €1.5m. This figure is estimated from the gross margin of €302,922 and 139 comparable companies (NACE 46). It probably lies between €970,000 and €2.6m.
- Is VELMAR profitable?
- In financial year 2025, VELMAR made a profit of €7,849.
- Where can I find the annual accounts of VELMAR?
- VELMAR filed 22 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of VELMAR due?
- VELMAR must file the annual accounts for financial year 2026 by 31-01-2027.Timeline
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