VEM
InactiveInactive; last annual accounts for fiscal year 2022.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2023, 3 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2023 close31-07-2024 deadline27-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 28-04-2023, 94 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
94 d early
2021
79 d early
2020
92 d early
2019
74 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 4 accounts on average 85 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
Financials · fiscal year 2022, abbreviated schema
Equity
€631,882▲ 3.3%
2021 · €611,623
Total assets
€708,210▼ 2.5%
2021 · €726,606
Net result
€20,259▼ 35.3%
2021 · €31,299
Working capital
€523,626▲ 1.9%
2021 · €513,670
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
Line20182019202020212022
Operating result€66,342-€123,858▲ 86.7%€165,510▲ 33.6%€47,680▼ 71.2%€35,272▼ 26.0%
Net result€44,256-€81,846▲ 84.9%€114,017▲ 39.3%€31,299▼ 72.5%€20,259▼ 35.3%
Equity€384,461-€466,307▲ 21.3%€580,324▲ 24.5%€611,623▲ 5.4%€631,882▲ 3.3%
Total assets€602,689-€585,456▼ 2.9%€735,328▲ 25.6%€726,606▼ 1.2%€708,210▼ 2.5%
Debt€218,228-€119,149▼ 45.4%€155,005▲ 30.1%€114,983▼ 25.8%€76,328▼ 33.6%
Working capital€235,685-€381,023▲ 61.7%€471,422▲ 23.7%€513,670▲ 9.0%€523,626▲ 1.9%
Staff (FTE)5.8-7▲ 20.7%6.4▼ 8.6%5.2▼ 18.8%3.6▼ 30.8%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2022 is 26% below 2021 and is the lowest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €708,210
Fixed assets
€137,526 ▲ 8.3%
Current assets
€570,684 ▼ 4.8%
Equity and liabilities €708,210
Equity
€631,882 ▲ 3.3%
Debt
€76,328 ▼ 33.6%
Debt's share of the balance-sheet total falls from 15.8% to 10.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€44,226▼
2021 · €61,488
Cash flow
€29,212▼
2021 · €45,107
Current ratio
12.13▲
2021 · 6.97
Debt to equity
0.12▼
2021 · 0.19
ROE
3.2%▼
2021 · 5.1%
ROA
2.9%▼
2021 · 4.3%
Interest coverage
35.59▲
2021 · 29.27
Debt ≤ 1 year
€47,058▼
2021 · €85,983
Debt > 1 year
€29,270▲
2021 · €29,000
Income taxes
€13,943▼
2021 · €14,509
Staff costs
€189,359▼
2021 · €257,163
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €6,053 | €12,212 | ▲ 102% |
| Remuneration, social security and pensions62 | - | - | - | €257,163 | €189,359 | ▼ 26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,116 | €20,466 | €11,850 | €13,808 | €8,953 | ▼ 35.2% |
| Other operating charges640/8 | - | - | - | €4,570 | €3,530 | ▼ 22.8% |
| Gross operating margin9900 | €387,611 | €506,788 | €485,575 | €323,221 | €237,114 | ▼ 26.6% |
| Operating profit (loss)9901 | €66,342 | €123,858 | €165,510 | €47,680 | €35,272 | ▼ 26.0% |
| Financial income75/76B | - | - | - | €229 | €172 | ▼ 24.9% |
| Recurring financial income75 | €93 | €113 | €812 | €229 | €172 | ▼ 24.9% |
| Financial charges65/66B | - | - | - | €2,101 | €1,242 | ▼ 40.9% |
| Recurring financial charges65 | €4,707 | €4,892 | €1,239 | €2,101 | €1,242 | ▼ 40.9% |
| Profit (loss) for the period before taxes9903 | €61,728 | €119,079 | €165,083 | €45,809 | €34,202 | ▼ 25.3% |
| Income taxes67/77 | €17,471 | €37,233 | €51,066 | €14,509 | €13,943 | ▼ 3.9% |
| Profit (loss) for the period9904 | €44,256 | €81,846 | €114,017 | €31,299 | €20,259 | ▼ 35.3% |
| Profit (loss) for the period to be appropriated9905 | €44,256 | €81,846 | €114,017 | €31,299 | €20,259 | ▼ 35.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €602,689 | €585,456 | €735,328 | €726,606 | €708,210 | ▼ 2.5% |
| Fixed assets21/28 | €237,779 | €114,283 | €138,021 | €126,953 | €137,526 | ▲ 8.3% |
| Tangible fixed assets22/27 | €207,512 | €84,216 | €107,954 | €96,885 | €107,359 | ▲ 10.8% |
| Land and buildings22 | - | - | - | €75,000 | €75,000 | = |
| Furniture and vehicles24 | - | - | - | €21,885 | €32,359 | ▲ 47.9% |
| Financial fixed assets28 | €30,267 | €30,067 | €30,067 | €30,067 | €30,167 | ▲ 0.3% |
| Current assets29/58 | €364,910 | €471,172 | €597,307 | €599,653 | €570,684 | ▼ 4.8% |
| Amounts receivable after more than one year29 | - | - | - | €17,000 | €278,000 | ▲ 1,535% |
| Other amounts receivable291 | - | - | - | €17,000 | €278,000 | ▲ 1,535% |
| Amounts receivable within one year40/41 | €200,239 | €305,495 | €183,216 | €130,832 | €84,426 | ▼ 35.5% |
| Trade receivables40 | - | - | - | €87,244 | €60,641 | ▼ 30.5% |
| Other amounts receivable41 | - | - | - | €43,588 | €23,785 | ▼ 45.4% |
| Cash at bank and in hand54/58 | €162,487 | €158,159 | €407,652 | €443,545 | €203,836 | ▼ 54.0% |
| Deferred charges and accrued income490/1 | - | - | - | €8,276 | €4,422 | ▼ 46.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €602,689 | €585,456 | €735,328 | €726,606 | €708,210 | ▼ 2.5% |
| Equity10/15 | €384,461 | €466,307 | €580,324 | €611,623 | €631,882 | ▲ 3.3% |
| Contributions10/11 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | - | - | - | €61,500 | €61,500 | = |
| Issued capital100 | - | - | - | €66,683 | €61,500 | ▼ 7.8% |
| Uncalled capital101 | - | - | - | €5,183 | - | - |
| Reserves13 | €322,961 | €404,807 | €518,824 | €550,123 | €570,382 | ▲ 3.7% |
| Non-distributable reserves130/1 | - | - | - | €6,668 | €6,668 | = |
| Legal reserve130 | - | - | - | €6,668 | €6,668 | = |
| Tax-exempt reserves132 | - | - | - | €25,675 | €25,675 | = |
| Distributable reserves133 | - | - | - | €517,780 | €538,039 | ▲ 3.9% |
| Amounts payable17/49 | €218,228 | €119,149 | €155,005 | €114,983 | €76,328 | ▼ 33.6% |
| Amounts payable after more than one year17 | €89,004 | €29,000 | €29,120 | €29,000 | €29,270 | ▲ 0.9% |
| Other amounts payable178/9 | - | - | - | €29,000 | €29,270 | ▲ 0.9% |
| Amounts payable within one year42/48 | €129,225 | €90,149 | €125,885 | €85,983 | €47,058 | ▼ 45.3% |
| Trade debts44 | €18,534 | €15,558 | €24,973 | €20,737 | €9,365 | ▼ 54.8% |
| Suppliers440/4 | - | - | - | €20,737 | €9,365 | ▼ 54.8% |
| Taxes, remuneration and social security45 | - | - | - | €65,246 | €37,693 | ▼ 42.2% |
| Taxes450/3 | - | - | - | €35,364 | €10,670 | ▼ 69.8% |
| Remuneration and social security454/9 | - | - | - | €29,882 | €27,022 | ▼ 9.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €44,256 | €81,846 | €114,017 | €31,299 | €20,259 | ▼ 35.3% |
| + Depreciation and write-downs630 | €29,116 | €20,466 | €11,850 | €13,808 | €8,953 | ▼ 35.2% |
| Operating cash flow (approximation) | €73,373 | €102,312 | €125,868 | €45,107 | €29,212 | ▼ 35.2% |
| Investment in fixed assets (approximation) | - | €103,030 | -€35,588 | -€2,739 | -€19,526 | ▼ 613% |
| Change in cash | - | -€4,328 | €249,493 | €35,892 | -€239,709 | ▼ 768% |
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
2023
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet €20,259 ▼35.3%
Net result drops to €20,259, the lowest in the series.
13-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Highest result since 2018net €114,017 ▲39.3%
Operating result €165,510, net result €114,017, both a record.
31-12
Financial
Equity above €500,000Eq €580,324 ▲24.5%
3 profitable years in a row build equity to €580,324.
18-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
24-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
29-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
28-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
22-05
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
2014
21-05
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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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Public money · subsidies and aid
Flemish government
2022 · 1 entry · 62 EUR awarded · 62 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 62 EUR | 62 EUR |