VEM Construct
ActiveSummary
VEM Construct has been active since 2017 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €324,172 and a net result of -€18,494. Equity has been stable since 2018 (±0.5% per year). Its solvency ranks better than 95% of 17,149 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 02-08-2017 Normal situation
- Activity
- Renting and operating of own or leased residential real estate, excluding social housing NACE 68201and 1 other
- Establishment unit
- 2.267.486.747 1850 Grimbergen, since 02-08-2017
- Financial year end
- 31 December
- Peppol
- Reachable since 04-11-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.2%
Annual accounts 2025
- Gross margin
- -€1,567
- Loss
- €18,494
- Equity
- €324,172
- ▼ 5.4%
- Total assets
- €327,191
- ▼ 4.6%
Turnover not published (micro format)
Score breakdownraises riskLoss of €18,494 (financial year 2025)lowers riskSector: Real estate activities (NACE 68)Equity €324,172 (99.1% of total assets)Figures for financial year 2025 (filed on 22-05-2026)Show the evidence
Checked score
Score 2025
90
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 53% of micro companies in real estate (NACE 68)
Financial strength · tick: 2024
Average
Solvency
100=
equity 99.1% of total assets
Liquidity
62-8
short-term debt 0.9% · cash 9.8%
Profitability
12-88
return on assets -5.7%
Bankruptcy probability within 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.3%▲ +0.1 percentage points vs 03-2025
05-2025: 0.3%● unchanged vs 04-2025highest value
06-2025: 0.1%▼ -0.2 percentage points vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025
09-2025: < 0.1%▼ -0.1 percentage points vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025lowest value
02-2026: < 0.1%● unchanged vs 01-2026lowest value
03-2026: < 0.1%● unchanged vs 02-2026lowest value
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: 0.2%▲ +0.2 percentage points vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: 0.2%● unchanged vs 07-2026
09-2026: 0.2%● unchanged vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Credit of up to €25,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 77.35, above the usual 1.5. Short-term debt is 0.9% and cash 9.8% of total assets. 0.9% of the assets are financed with debt and provisions.
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 68, micro). It does better than 91% of them on solvency, 74% on liquidity, 14% on profitability and 33% on growth.
The bankruptcy probability was computed on 04-11-2026 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.
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).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 22-05-2026, 70 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
70 days early
2024
76 days early
2023
89 days early
2022
77 days early
2021
79 days early
2020
92 days early
2019
64 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 78 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 15 May (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
04-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 22-05-2026 PDF all 9 filings
Equity
€324,172▼ 5.4%
2024 · €342,666
Total assets
€327,191▼ 4.6%
2024 · €343,118
Net result
-€18,494
2024 · €108,918
Working capital
€230,525▼ 9.2%
2024 · €253,760
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€18,444
2025
20182025
Net result
-€18,494
2025
lowest quarter of the sector
20182025
Equity
€324,172
▼ 5.4%
2025
highest quarter of the sector
20182025
Total assets
€327,191
▼ 4.6%
2025
middle half of the sector
20182025
Debt
€3,019
▲ 568%
2025
20182025
Working capital
€230,525
▼ 9.2%
2025
highest quarter of the sector
20182025
Solvency
99.1%
▼ 0.8pp
2025
highest quarter of the sector
20182025
Current ratio
77.35
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-5.7%
▼ 37.4pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€4,601--€28,329▼ 516%-€11,492▲ 59.4%€4,432€9,009▲ 103%-€52,097€110,439-€18,444
Net result-€4,601--€30,070▼ 553%-€17,173below the sector's middle half▲ 42.9%€2,701within the sector's middle half€7,288within the sector's middle half▲ 170%-€53,405below the sector's middle half€108,918above the sector's middle half-€18,494below the sector's middle half
Equity€324,407-€294,337▼ 9.3%€277,164within the sector's middle half▼ 5.8%€279,864within the sector's middle half▲ 1.0%€287,152within the sector's middle half▲ 2.6%€233,748within the sector's middle half▼ 18.6%€342,666above the sector's middle half▲ 46.6%€324,172above the sector's middle half▼ 5.4%
Total assets€344,236-€472,753▲ 37.3%€443,917within the sector's middle half▼ 6.1%€421,430within the sector's middle half▼ 5.1%€411,209within the sector's middle half▼ 2.4%€358,188within the sector's middle half▼ 12.9%€343,118within the sector's middle half▼ 4.2%€327,191within the sector's middle half▼ 4.6%
Debt€19,829-€178,416▲ 800%€166,754▼ 6.5%€141,566▼ 15.1%€124,057▼ 12.4%€124,441▲ 0.3%€452▼ 99.6%€3,019▲ 568%
Working capital€141,487--€14,455-€15,659within the sector's middle half▼ 8.3%-€3,556within the sector's middle half▲ 77.3%€52,080within the sector's middle half-€6,974within the sector's middle half€253,760above the sector's middle half€230,525above the sector's middle half▼ 9.2%
Solvency94.2%-62.3%▼ 32.0pp62.4%within the sector's middle half▲ 0.2pp66.4%above the sector's middle half▲ 4.0pp69.8%above the sector's middle half▲ 3.4pp65.3%above the sector's middle half▼ 4.6pp99.9%above the sector's middle half▲ 34.6pp99.1%above the sector's middle half▼ 0.8pp
Current ratio8.14-0.71▼ 7.430.70within the sector's middle half▼ 0.010.92within the sector's middle half▲ 0.212.33within the sector's middle half▲ 1.420.87within the sector's middle half▼ 1.4677.35above the sector's middle half
Return on assets (ROA)-1.3%--6.4%▼ 5.0pp-3.9%below the sector's middle half▲ 2.5pp0.6%within the sector's middle half▲ 4.5pp1.8%within the sector's middle half▲ 1.1pp-14.9%below the sector's middle half▼ 16.7pp31.7%above the sector's middle half▲ 46.7pp-5.7%below the sector's middle half▼ 37.4pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €18,444, after a profit of €110,439 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €327,191
Fixed assets
€93,647 ▲ 5.3%
Current assets
€233,544 ▼ 8.1%
Equity and liabilities €327,191
Equity
€324,172 ▼ 5.4%
Debt
€3,019 ▲ 568%
Debt's share of the balance-sheet total rises from 0.1% to 0.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€4,064▼
2024 · €124,791
Cash flow
-€4,115▼
2024 · €123,270
Debt to equity
0.01▲
2024 · 0.00
ROE
-5.7%▼
2024 · 31.8%
Interest coverage
-80.66▼
2024 · 82.04
Debt ≤ 1 year
€3,019▲
2024 · €452
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Mortgages, amount registered | €25,000 | €25,000 | €25,000 | - | - |
| Mortgage mandates | €125,000 | €125,000 | €125,000 | - | - |
| Carrying value of the mortgaged assets | €237,600 | €226,800 | €216,000 | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €6,662 | - | €18,148 | €8,608 | €20,073 |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €30,668 | €30,643 | €27,488 | €14,352 | €14,379 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €20,000 | - | €136,500 | €606 | ▼ 99.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,629 | €30,822 | €30,382 | €30,668 | €30,643 | €27,488 | €14,352 | €14,379 | ▲ 0.2% |
| Other operating charges640/8 | - | - | - | €3,018 | €3,127 | €41,182 | €3,507 | €2,498 | ▼ 28.8% |
| Gross operating margin9900 | €16,919 | €16,517 | €21,888 | €38,117 | €42,779 | €16,574 | €128,298 | -€1,567 | - |
| Operating profit (loss)9901 | -€4,601 | -€28,329 | -€11,492 | €4,432 | €9,009 | -€52,097 | €110,439 | -€18,444 | - |
| Financial charges65/66B | - | - | - | €1,731 | €1,500 | €1,308 | €1,521 | €50 | ▼ 96.7% |
| Recurring financial charges65 | €0 | €1,741 | €2,397 | €1,731 | €1,500 | €1,308 | €1,521 | €50 | ▼ 96.7% |
| Profit (loss) for the period before taxes9903 | -€4,601 | -€30,070 | -€13,888 | €2,701 | €7,509 | -€53,405 | €108,918 | -€18,494 | - |
| Income taxes67/77 | - | - | €3,285 | - | €222 | - | - | - | - |
| Profit (loss) for the period9904 | -€4,601 | -€30,070 | -€17,173 | €2,701 | €7,288 | -€53,405 | €108,918 | -€18,494 | - |
| Profit (loss) for the period to be appropriated9905 | -€4,601 | -€30,070 | €4,727 | €2,701 | €7,288 | -€53,405 | €108,918 | -€18,494 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €344,236 | €472,753 | €443,917 | €421,430 | €411,209 | €358,188 | €343,118 | €327,191 | ▼ 4.6% |
| Fixed assets21/28 | €182,920 | €437,522 | €407,139 | €383,134 | €319,991 | €310,650 | €88,906 | €93,647 | ▲ 5.3% |
| Tangible fixed assets22/27 | €182,920 | €437,522 | €407,139 | €383,134 | €319,991 | €310,650 | €88,906 | €93,647 | ▲ 5.3% |
| Land and buildings22 | - | - | - | €383,134 | €319,991 | €309,178 | €87,953 | €81,134 | ▼ 7.8% |
| Plant, machinery and equipment23 | - | - | - | - | - | €1,472 | €953 | €12,512 | ▲ 13× |
| Current assets29/58 | €161,316 | €35,231 | €36,778 | €38,296 | €91,218 | €47,538 | €254,212 | €233,544 | ▼ 8.1% |
| Amounts receivable within one year40/41 | - | - | - | - | - | - | €61 | €954 | ▲ 16× |
| Trade receivables40 | - | - | - | - | - | - | - | €312 | - |
| Other amounts receivable41 | - | - | - | - | - | - | €61 | €642 | ▲ 960% |
| Current investments50/53 | - | - | - | - | - | - | €200,000 | €200,000 | = |
| Cash at bank and in hand54/58 | €160,937 | €34,789 | €36,358 | €37,852 | €90,735 | €46,990 | €53,585 | €32,000 | ▼ 40.3% |
| Deferred charges and accrued income490/1 | - | - | - | €444 | €483 | €548 | €566 | €590 | ▲ 4.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €344,236 | €472,753 | €443,917 | €421,430 | €411,209 | €358,188 | €343,118 | €327,191 | ▼ 4.6% |
| Equity10/15 | €324,407 | €294,337 | €277,164 | €279,864 | €287,152 | €233,748 | €342,666 | €324,172 | ▼ 5.4% |
| Contributions10/11 | €36,427 | €36,427 | - | €36,427 | €36,427 | €36,427 | €36,427 | €36,427 | = |
| Reserves13 | €312,975 | €312,975 | €291,075 | €291,075 | €291,075 | €291,075 | €306,239 | €287,745 | ▼ 6.0% |
| Tax-exempt reserves132 | - | - | - | €13,825 | €13,825 | €13,825 | €13,825 | €13,825 | = |
| Distributable reserves133 | - | - | - | €277,250 | €277,250 | €277,250 | €292,414 | €273,920 | ▼ 6.3% |
| Profit (loss) carried forward14 | -€24,995 | -€55,065 | -€50,338 | -€47,638 | -€40,350 | -€93,754 | €0 | - | - |
| Amounts payable17/49 | €19,829 | €178,416 | €166,754 | €141,566 | €124,057 | €124,441 | €452 | €3,019 | ▲ 568% |
| Amounts payable after more than one year17 | - | €128,730 | €114,316 | €99,713 | €84,918 | €69,929 | €0 | - | - |
| Financial debts170/4 | - | - | - | €99,713 | €84,918 | €69,929 | €0 | - | - |
| Amounts payable within one year42/48 | €19,829 | €49,686 | €52,437 | €41,852 | €39,138 | €54,512 | €452 | €3,019 | ▲ 568% |
| Current portion of amounts payable after more than one year42 | - | - | - | €14,603 | €14,795 | €14,989 | €0 | - | - |
| Trade debts44 | €1,010 | €1,900 | €925 | €1,045 | €1,052 | €1,459 | €172 | €0 | ▼ 100% |
| Suppliers440/4 | - | - | - | €1,045 | €1,052 | €1,459 | €172 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €3,285 | €263 | €38,063 | €0 | €3,019 | - |
| Taxes450/3 | - | - | - | €3,285 | €263 | €38,063 | €0 | €3,019 | - |
| Other amounts payable47/48 | - | - | - | €22,919 | €23,028 | - | €280 | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,601 | -€30,070 | -€17,173 | €2,701 | €7,288 | -€53,405 | €108,918 | -€18,494 | - |
| + Depreciation and write-downs630 | €18,629 | €30,822 | €30,382 | €30,668 | €30,643 | €27,488 | €14,352 | €14,379 | ▲ 0.2% |
| Operating cash flow (approximation) | €14,028 | €753 | €13,209 | €33,368 | €37,931 | -€25,916 | €123,270 | -€4,115 | - |
| Investment in fixed assets (approximation) | - | -€285,424 | €0 | -€6,662 | €32,500 | -€18,148 | €207,392 | -€19,120 | - |
| Change in cash | - | -€126,148 | €1,569 | €1,494 | €52,883 | -€43,745 | €6,595 | -€21,585 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 3,440 companies had the same profile as VEM Construct has now. Two years later, 90.0% were still going and 2.3% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a small loss
90.0%
was still going
7.4%
stopped otherwise
2.3%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of VEM Construct itself is lower: 0.2% within 12 months. It rests on far more data about VEM Construct than the profile alone.
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 3,440 companies, not a prediction for VEM Construct. 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.
Filings with the National Bank (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 22-05-2026 | 2026-00118305 | |
| 31-12-2024 | micro format | 16-05-2025 | 2025-00096305 | |
| 31-12-2023 | micro format | 03-05-2024 | 2024-00081644 | |
| 31-12-2022 | micro format | 15-05-2023 | 2023-00087193 | |
| 31-12-2021 | micro format | 13-05-2022 | 2022-20026355 | |
| 31-12-2020 | micro format | 30-04-2021 | 2021-12300299 | |
| 31-12-2019 | micro format | 28-05-2020 | 2020-13500394 | |
| 31-12-2018 | micro format | 24-05-2019 | 2019-14400099 | |
| 31-12-2017 | micro format | 25-05-2018 | 2018-14200309 |
Board & ownership
Directors
Directors
2 directors
Metdenancxt Myriam
Current
Director · listed in the 2025 annual accounts, filed on 22-05-2026
Van Eemeren Dirk
Current
Director · listed in the 2025 annual accounts, filed on 22-05-2026
Owners and capital
Owners
Mandate history
2 people, 2 in office
- Board
- mandate already running before its first mention
| Name | Functions and periods |
|---|---|
| Metdenancxt Myriam |
|
| Van Eemeren Dirk |
|
Network & group
VEM Construct shares no director with another company.
Connections & network
2 current directorsThe network starts from the directors of VEM Construct. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
22-05
micro format · 70 days before the deadline
2025
16-05
micro format · 76 days before the deadline
2024
31-12
Financial
Back to profitnet €108,918
The net result is €108,918, after one loss-making year.
31-12
Financial
Liquidity more than 644 timescurrent ratio 562.33
The current ratio rises from 0.87 to 562.33. Short-term debt falls from €54,512 to €452.
03-05
micro format · 89 days before the deadline
2023
31-12
Financial
Weakest financial yearnet -€53,405
The net result drops to -€53,405, the lowest from 2018 to 2025. It recovers the following year.
15-05
micro format · 77 days before the deadline
2022
31-12
Financial
Liquidity more than doubledcurrent ratio 2.33
The current ratio rises from 0.92 to 2.33. Short-term debt falls from €41,852 to €39,138.
13-05
micro format · 79 days before the deadline
2021
31-12
Financial
Back to profitnet €2,701
The net result is €2,701, after 3 loss-making years.
30-04
micro format · 92 days before the deadline
2020
28-05
micro format · 64 days before the deadline
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
VEM Construct in Dutch
Enterprise number
0679.517.365
Legal form
Private limited company
Status
Active, normale toestand
Founded
02-08-2017
Entity type
Legal entity
Registered office and establishments
Registered office
Verbrande Brugsesteenweg 97, 1850 Grimbergen, Belgium
Establishment unit
VEM Construct, Verbrande Brugsesteenweg 97, 1850 Grimbergen since 02-08-2017 · unit number 2.267.486.747
Activities
NACEBEL 202568201
Renting and operating of own or leased residential real estate, excluding social housing main activity
68203
Renting and operating of own or leased non-residential real estate, excluding land
Codes under NACEBEL 2008
68201
Real estate activities main activity
68203
Real estate rental
Invoicing and payment
VAT number
BE 0679.517.365
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Sites & property
Location
Buildings and parcels at the address
Ground area
1,499 m²
Building footprint
197 m²
Building volume
1,201 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 23025C0428/00R000 | Flanders | 1,499 m² | 1 · 197 m² | 9.2 m · 2 |