VEMA
ActiveSummary
VEMA has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €57k and a net result of €-5k. Equity remains stable across the filed fiscal years (±0.4% per year). Its solvency ranks better than 64% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability63▼-13
Solvency85▲+2
Growth32=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3.5k at 30 days acceptable
Liquidity ample (current ratio 2.25 against 1.94 in 2024; short-term debt: 23.2% and cash: 4.9% of total assets), and 39.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
60.1%
Return on assets
-4.8%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
27 d late
2023
30 d late
2022
30 d late
2021
31 d late
2020
on the day
2019
7 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€57k▼ 7.4%
2024 · €61k
2018: €62k
2019: €58k▼ -7.2% vs 2018
2020: €53k▼ -8.4% vs 2019lowest in 8 years
2021: €64k▲ +21.2% vs 2020highest in 8 years
2022: €54k▼ -15.3% vs 2021
2023: €55k▲ +0.6% vs 2022
2024: €61k▲ +11.5% vs 2023
2025: €57k▼ -7.4% vs 2024
2018 → 2025
Total assets
€94k▼ 10.3%
2024 · €105k
2018: €131k
2019: €147k▲ +12.5% vs 2018highest in 8 years
2020: €118k▼ -20.0% vs 2019
2021: €119k▲ +0.7% vs 2020
2022: €95k▼ -20.1% vs 2021
2023: €67k▼ -29.0% vs 2022lowest in 8 years
2024: €105k▲ +55.6% vs 2023
2025: €94k▼ -10.3% vs 2024
2018 → 2025
Net result
€-5k
2024 · €6k
2018: €9k
2019: €-5k▼ -152% vs 2018
2020: €-5k▼ -7.2% vs 2019
2021: €11k▲ +332% vs 2020highest in 8 years
2022: €-10k▼ -187% vs 2021lowest in 8 years
2023: €328▲ +103% vs 2022
2024: €6k▲ +1822% vs 2023
2025: €-5k▼ -172% vs 2024
2018 → 2025
Working capital
€27k▲ 26.7%
2024 · €22k
2018: €35khighest in 8 years
2019: €23k▼ -34.7% vs 2018
2020: €17k▼ -25.4% vs 2019
2021: €27k▲ +57.1% vs 2020
2022: €14k▼ -47.2% vs 2021lowest in 8 years
2023: €25k▲ +71.3% vs 2022
2024: €22k▼ -12.3% vs 2023
2025: €27k▲ +26.7% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€64k-€54k▼ 15.3%€55k▲ 0.6%€61k▲ 11.5%€57k▼ 7.4%
2021: €64khighest in 5 years
2022: €54k▼ -15.3% vs 2021lowest in 5 years
2023: €55k▲ +0.6% vs 2022
2024: €61k▲ +11.5% vs 2023
2025: €57k▼ -7.4% vs 2024
Operating result€13k-€-8k€2k€9k▲ 394%€-2k
2021: €13khighest in 5 years
2022: €-8k▼ -164% vs 2021lowest in 5 years
2023: €2k▲ +121% vs 2022
2024: €9k▲ +394% vs 2023
2025: €-2k▼ -129% vs 2024
Net result€11k-€-10k€328€6k▲ 1,822%€-5k
2021: €11khighest in 5 years
2022: €-10k▼ -187% vs 2021lowest in 5 years
2023: €328▲ +103% vs 2022
2024: €6k▲ +1822% vs 2023
2025: €-5k▼ -172% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €2k after €9k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €94k
Fixed assets
€45k ▼ 25.7%
Current assets
€49k ▲ 10.7%
Equity and liabilities €94k
Equity
€57k ▼ 7.4%
Debt
€38k ▼ 14.3%
Debt's share of the balance-sheet total falls from 41.7% to 39.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€13k▼
2024 · €21k
Cash flow
€11k▼
2024 · €18k
Current ratio
2.25▲
2024 · 1.94
Quick ratio
2.21▲
2024 · 1.91
Debt to equity
0.66▼
2024 · 0.72
ROE
-8.0%▼
2024 · 10.3%
ROA
-4.8%▼
2024 · 6.0%
Interest coverage
7.14▼
2024 · 9.91
Debt ≤ 1 year
€22k▼
2024 · €23k
Debt > 1 year
€16k▼
2024 · €21k
Income taxes
€213▼
2024 · €260
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€105k€94k▼
Fixed assets21/28€61k€45k▼
Tangible fixed assets22/27€60k€45k▼
Land and buildings22€22k€15k▼
Plant, machinery and equipment23€2k€2k▼
Furniture and vehicles24€36k€28k▼
Financial fixed assets28€125€125=
Current assets29/58€44k€49k▲
Stocks and contracts in progress3€830€830=
Stocks30/36€830€830=
Amounts receivable within one year40/41€42k€43k▲
Trade receivables40€40k€41k▲
Other amounts receivable41€2k€2k▼
Cash at bank and in hand54/58€80€5k▲
Deferred charges and accrued income490/1€1k€760▼
Equity and liabilities
Total equity and liabilities10/49€105k€94k▼
Equity10/15€61k€57k▼
Contributions10/11€19k€19k=
Reserves13€9k€9k=
Tax-exempt reserves132€7k€7k=
Distributable reserves133€2k€2k=
Profit (loss) carried forward14€34k€29k▼
Amounts payable17/49€44k€38k▼
Amounts payable after more than one year17€21k€16k▼
Financial debts170/4€21k€16k▼
Amounts payable within one year42/48€23k€22k▼
Current portion of amounts payable after more than one year42€5k€5k▼
Financial debts43€7k-
Credit institutions430/8€7k-
Trade debts44€10k€14k▲
Suppliers440/4€10k€14k▲
Taxes, remuneration and social security45€704€973▲
Taxes450/3€704€473▼
Remuneration and social security454/9-€500
Other amounts payable47/48-€2k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€16k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-4k-
Other operating charges640/8€6k€851▼
Gross operating margin9900€23k€14k▼
Operating profit (loss)9901€9k€-2k▼
Financial income75/76B€4€0▼
Recurring financial income75€4€0▼
Financial charges65/66B€2k€2k▼
Recurring financial charges65€2k€2k▼
Profit (loss) for the period before taxes9903€7k€-4k▼
Income taxes67/77€260€213▼
Profit (loss) for the period9904€6k€-5k▼
Profit (loss) for the period to be appropriated9905€6k€-5k▼
Appropriation of the result
Profit (loss) to be appropriated9906€34k€29k▼
Profit (loss) brought forward from the previous period14P€27k€34k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15k | €14k | €13k | €12k | €16k | ▲ 28.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €-4k | - | - |
| Other operating charges640/8 | €728 | €984 | €512 | €6k | €851 | ▼ 86.1% |
| Gross operating margin9900 | €29k | €7k | €16k | €23k | €14k | ▼ 39.6% |
| Operating profit (loss)9901 | €13k | €-8k | €2k | €9k | €-2k | ▼ 129% |
| Financial income75/76B | - | €0 | €6 | €4 | €0 | ▼ 97.3% |
| Recurring financial income75 | - | €0 | €6 | €4 | €0 | ▼ 97.3% |
| Financial charges65/66B | €2k | €1k | €989 | €2k | €2k | ▼ 12.8% |
| Recurring financial charges65 | €2k | €1k | €989 | €2k | €2k | ▼ 12.8% |
| Profit (loss) for the period before taxes9903 | €11k | €-10k | €772 | €7k | €-4k | ▼ 166% |
| Income taxes67/77 | - | - | €444 | €260 | €213 | ▼ 18.1% |
| Profit (loss) for the period9904 | €11k | €-10k | €328 | €6k | €-5k | ▼ 172% |
| Profit (loss) for the period to be appropriated9905 | €11k | €-10k | €328 | €6k | €-5k | ▼ 172% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €119k | €95k | €67k | €105k | €94k | ▼ 10.3% |
| Formation expenses20 | - | - | €1k | - | - | - |
| Fixed assets21/28 | €57k | €42k | €29k | €61k | €45k | ▼ 25.7% |
| Tangible fixed assets22/27 | €57k | €42k | €29k | €60k | €45k | ▼ 25.7% |
| Land and buildings22 | €44k | €36k | €29k | €22k | €15k | ▼ 32.1% |
| Plant, machinery and equipment23 | - | - | - | €2k | €2k | ▼ 21.3% |
| Furniture and vehicles24 | €12k | €6k | - | €36k | €28k | ▼ 22.1% |
| Financial fixed assets28 | €125 | €125 | €125 | €125 | €125 | = |
| Current assets29/58 | €62k | €52k | €37k | €44k | €49k | ▲ 10.7% |
| Stocks and contracts in progress3 | - | - | - | €830 | €830 | = |
| Stocks30/36 | - | - | - | €830 | €830 | = |
| Amounts receivable within one year40/41 | €26k | €52k | €36k | €42k | €43k | ▲ 1.6% |
| Trade receivables40 | €23k | €51k | €34k | €40k | €41k | ▲ 3.0% |
| Other amounts receivable41 | €2k | €873 | €2k | €2k | €2k | ▼ 25.4% |
| Cash at bank and in hand54/58 | €35k | - | €80 | €80 | €5k | ▲ 5,619% |
| Deferred charges and accrued income490/1 | €948 | €667 | €690 | €1k | €760 | ▼ 37.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €119k | €95k | €67k | €105k | €94k | ▼ 10.3% |
| Equity10/15 | €64k | €54k | €55k | €61k | €57k | ▼ 7.4% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €9k | €9k | €9k | €9k | €9k | = |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Tax-exempt reserves132 | €7k | €7k | €7k | €7k | €7k | = |
| Distributable reserves133 | - | - | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €37k | €27k | €27k | €34k | €29k | ▼ 13.5% |
| Amounts payable17/49 | €55k | €40k | €13k | €44k | €38k | ▼ 14.3% |
| Amounts payable after more than one year17 | €20k | €2k | - | €21k | €16k | ▼ 25.0% |
| Financial debts170/4 | €20k | €2k | - | €21k | €16k | ▼ 25.0% |
| Amounts payable within one year42/48 | €35k | €38k | €13k | €23k | €22k | ▼ 4.4% |
| Current portion of amounts payable after more than one year42 | €16k | €17k | €3k | €5k | €5k | ▼ 0.1% |
| Financial debts43 | - | €4k | €2k | €7k | - | - |
| Credit institutions430/8 | - | - | - | €7k | - | - |
| Other loans439 | - | €4k | €2k | - | - | - |
| Trade debts44 | €16k | €16k | €5k | €10k | €14k | ▲ 37.6% |
| Suppliers440/4 | €16k | €16k | €5k | €10k | €14k | ▲ 37.6% |
| Taxes, remuneration and social security45 | €3k | €1k | €3k | €704 | €973 | ▲ 38.3% |
| Taxes450/3 | €646 | €860 | €2k | €704 | €473 | ▼ 32.8% |
| Remuneration and social security454/9 | €2k | €500 | €500 | - | €500 | - |
| Other amounts payable47/48 | - | - | €637 | - | €2k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11k | €-10k | €328 | €6k | €-5k | ▼ 172% |
| + Depreciation and write-downs630 | €15k | €14k | €13k | €12k | €16k | ▲ 28.5% |
| Operating cash flow (approximation) | €26k | €5k | €14k | €18k | €11k | ▼ 40.2% |
| Investment in fixed assets (approximation) | - | €0 | €-30 | €-44k | €0 | ▲ 100% |
| Change in cash | - | - | - | €0 | €5k | - |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Back to profitnet €328
Net result €328 after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 2.94
Current ratio from 1.38 to 2.94; short-term debt falls from €38k to €13k.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-12
Financial
Weakest financial yearnet €-10k
Net result drops to €-10k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Back to profitnet €11k
Net result €11k after 2 loss-making years.
31-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
07-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 7 days late
2019
02-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 2 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Saint-Georges-sur-Meuse · 1 establishment unit since 2001
Ground area
1,190 m²
Building footprint
231 m²
Volume, LiDAR
1,593 m³
2 parcels, Wallonia · tallest building 10.5 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
VEMA
since 20012.145.579.721
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 64065C1318/00K000 | Wallonia | 823 m² | 1 · 140 m² | 10.5 m · 3 fl. |
| 64065C1284/00R000 | Wallonia | 367 m² | 1 · 91 m² | 7.3 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
Duotech
BE 0733.605.852
Houthalen-Helchteren · Eq €56,543
ANCIENS ETABLISSEMENTS SANI TECHNIC-CONFORT
BE 0451.073.358
Rixensart · Eq €56,528
MELMANN
BE 0810.012.158
Niel · Eq €56,528
MAISON à ENERGIE POSITIVE
BE 0429.524.809
Engis · Eq €56,656
SEBS CHAUFFAGE
BE 0800.235.350
Pont-à-Celles · Eq €56,658
Of 9,534 companies in sector 43222 we hold annual accounts for 5,664. 4,644 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
Founded29-12-1987
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
Scores and ratios are computed by Checked and are not a credit decision.