VEMAS
ActiveSummary
VEMAS has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-59k) and a net result of €-6k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability54▲+29
Solvency15▼-2
Growth55▲+23
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.38 against 0.41 in 2024; short-term debt: 9.9% and cash: 2.7% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
-9.9%
Return on assets
-1.1%
Age of the figures
9 mo
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 · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-59k
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 13-07-2026, 18 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
18 d early
2024
24 d early
2023
on the day
2022
14 d early
2021
6 d early
2020
on the day
2019
61 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
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2025, abbreviated schema
Turnover
€49k▲ 37.1%
2024 · €36k
EBIT margin
29.3%▲ 77.6pp
2024 · -48.3%
Net result
€-6k▲ 85.7%
2024 · €-44k
Working capital
€-37k▲ 1.3%
2024 · €-38k
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
Line20212022202320242025
Turnover€36k€49k▲ 37.1%
Operating result€-4k€-2k▲ 53.7%€-40k▼ 2,184%€-17k▲ 56.1%€14k
Net result€-14k€-11k▲ 16.9%€-57k▼ 401%€-44k▲ 22.2%€-6k▲ 85.7%
EBIT margin-48.3%29.3%▲ 77.6pp
Equity€59k▼ 18.7%€48k▼ 19.1%€-9k€-53k▼ 510%€-59k▼ 12.0%
Total assets€669k▼ 2.7%€639k▼ 4.5%€640k▲ 0.2%€622k▼ 2.8%€598k▼ 3.9%
Debt€610k▼ 0.8%€591k▼ 3.1%€648k▲ 9.8%€675k▲ 4.1%€657k▼ 2.6%
Working capital€-61k▲ 64.4%€-53k▲ 13.9%€-33k▲ 37.0%€-38k▼ 13.2%€-37k▲ 1.3%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €14k after a loss of €17k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €598k
Fixed assets
€576k ▼ 3.4%
Current assets
€22k ▼ 13.5%
Key figures and ratios
EBITDA
€35k▲
2024 · €3k
Cash flow
€14k▲
2024 · €-24k
Solvency
-9.9%▼
2024 · -8.5%
Current ratio
0.38▼
2024 · 0.41
Debt to equity
-11.13▲
2024 · -12.80
ROA
-1.1%▲
2024 · -7.1%
Interest coverage
1.68▲
2024 · 0.12
Debt ≤ 1 year
€59k▼
2024 · €63k
Debt > 1 year
€597k▼
2024 · €611k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | €36k | €49k | ▲ 37.1% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €27k | €18k | ▼ 31.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24k | €22k | €21k | €21k | €21k | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €20k | €0 | - | - |
| Other operating charges640/8 | €6k | €6k | €6k | €6k | €6k | ▲ 0.5% |
| Gross operating margin9900 | €26k | €25k | €7k | €9k | €41k | ▲ 337% |
| Operating profit (loss)9901 | €-4k | €-2k | €-40k | €-17k | €14k | ▲ 183% |
| Financial charges65/66B | €10k | €10k | €17k | €27k | €21k | ▼ 22.1% |
| Recurring financial charges65 | €10k | €10k | €17k | €27k | €21k | ▼ 22.1% |
| Profit (loss) for the period before taxes9903 | €-14k | €-11k | €-57k | €-44k | €-6k | ▲ 85.7% |
| Profit (loss) for the period9904 | €-14k | €-11k | €-57k | €-44k | €-6k | ▲ 85.7% |
| Profit (loss) for the period to be appropriated9905 | €-14k | €-11k | €-57k | €-44k | €-6k | ▲ 85.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €669k | €639k | €640k | €622k | €598k | ▼ 3.9% |
| Fixed assets21/28 | €659k | €637k | €617k | €596k | €576k | ▼ 3.4% |
| Tangible fixed assets22/27 | €659k | €637k | €617k | €596k | €576k | ▼ 3.4% |
| Land and buildings22 | €659k | €637k | €617k | €596k | €576k | ▼ 3.4% |
| Current assets29/58 | €10k | €2k | €23k | €26k | €22k | ▼ 13.5% |
| Amounts receivable within one year40/41 | - | - | €8k | €12k | €5k | ▼ 55.4% |
| Trade receivables40 | - | - | €8k | €5k | €5k | ▲ 6.5% |
| Other amounts receivable41 | - | - | - | €7k | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €10k | €886 | €14k | €13k | €16k | ▲ 21.4% |
| Deferred charges and accrued income490/1 | €624 | €672 | €762 | €800 | €828 | ▲ 3.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €669k | €639k | €640k | €622k | €598k | ▼ 3.9% |
| Equity10/15 | €59k | €48k | €-9k | €-53k | €-59k | ▼ 12.0% |
| Contributions10/11 | €100k | €100k | €100k | €100k | €100k | = |
| Profit (loss) carried forward14 | €-41k | €-52k | €-109k | €-153k | €-159k | ▼ 4.1% |
| Amounts payable17/49 | €610k | €591k | €648k | €675k | €657k | ▼ 2.6% |
| Amounts payable after more than one year17 | €538k | €536k | €592k | €611k | €597k | ▼ 2.2% |
| Financial debts170/4 | €387k | €335k | €283k | €229k | €175k | ▼ 23.8% |
| Other amounts payable178/9 | €151k | €201k | €309k | €382k | €423k | ▲ 10.7% |
| Amounts payable within one year42/48 | €71k | €54k | €56k | €63k | €59k | ▼ 6.3% |
| Current portion of amounts payable after more than one year42 | €51k | €52k | €53k | €54k | €55k | ▲ 1.9% |
| Trade debts44 | €20k | €3k | €3k | €8k | €3k | ▼ 57.0% |
| Suppliers440/4 | €20k | €3k | €3k | €8k | €3k | ▼ 57.0% |
| Taxes, remuneration and social security45 | - | - | €648 | €2k | €2k | ▼ 27.1% |
| Taxes450/3 | - | - | €648 | €2k | €2k | ▼ 27.1% |
| Other amounts payable47/48 | €419 | €0 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-14k | €-11k | €-57k | €-44k | €-6k | ▲ 85.7% |
| + Depreciation and write-downs630 | €24k | €22k | €21k | €21k | €21k | = |
| Operating cash flow (approximation) | €10k | €10k | €-36k | €-24k | €14k | ▲ 160% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €-9k | €13k | €-343 | €3k | ▲ 940% |
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
13-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €-57k
Net result drops to €-57k, the lowest in the series; recovery starts the following year.
17-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €6k ▲97.8%
Operating result €15k, net result €6k, both a record.
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 61 days late
2019
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
30-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 61 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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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Directors · office · real estate
Directors
10 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, Brussel · 1 establishment unit since 2014
Ground area
1,648 m²
Building footprint
806 m²
Volume, LiDAR
13,528 m³
2 parcels, Brussels, Flanders · tallest building 28.3 m, ±8 floors. Linked by address, not a title deed.
51
companies at this address
See who is registered here
1 establishment unit
VEMAS
since 20142.231.022.071
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13044G0287/00K000 | Flanders | 1,054 m² | 1 · 214 m² | 7.1 m · 2 fl. |
| 21805E0497/00C000 | Brussels | 594 m² | 1 · 592 m² | 28.3 m · 8 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.
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Of 12,041 companies in sector 68203 we hold annual accounts for 5,994. 3,065 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
Founded20-03-2014
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
Scores and ratios are computed by Checked and are not a credit decision.