Equity
-€1.3m
Debts exceed assets in financial year 2025.
VERMAN
Lifetime
19 annual accounts with figures on one time axis, 22 filings since 2004peak €467,670 (2024)
€396,331▼ 15.3%
lowest -€647,380 (2025)
-€647,380▼ €511,339
peak €3.3m (2022)
-€1.3m▼ €647,380
€7.0m▼ 10.8%
peak 0 FTE (2023)
0 FTE
Board1 name since 2002
1 directorChristof Vermeersch
Documentsfilings and deeds
09-02-20269 days late
2025abbreviated format
Gross margin from €467,670 to €396,331Loss of €647,380Equity from -€680,673 to -€1.3mCash from €252,856 to €74,172
Key points
from the 2025 annual accountsLosses
-€928,889 in three years
Every financial year from 2023 to 2025 closed with a loss. 2025 was the heaviest.
Debts
€7.0m 123% of the balance sheet
Financial debts 72%Suppliers 2%Taxes and wages 0%Other 26%
Of this, €1.9m falls due within a year.
Investments
€58,294 0.2 × depreciation
Green is investment, beige is depreciation.
Filings
22 annual accounts since 2004
Two of the last ten came late. The 2016 accounts came latest: 17 days after the end of the period.
Position in the sector
-€647,380
Lower net result than 95% of companies in head offices and management consultancy. Sector median €37,500 · 10,856 companies.
Checked score
46
Fair
Financially stronger than 7% of small companies in head offices and management consultancy (NACE 70)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
3.9% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 4,522 companies (NACE 70, small).
About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%lowest value
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.2%▲ +0.1 percentage points vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025
08-2025: 0.2%● unchanged vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.3%▲ +0.1 percentage points vs 12-2025
02-2026: 0.4%▲ +0.1 percentage points vs 01-2026
03-2026: 0.5%▲ +0.1 percentage points vs 02-2026
04-2026: 0.5%● unchanged vs 03-2026
05-2026: 0.5%● unchanged vs 04-2026
06-2026: 0.5%● unchanged vs 05-2026
07-2026: 0.5%● unchanged vs 06-2026
08-2026: 0.5%● unchanged vs 07-2026
09-2026: 0.5%● unchanged vs 08-2026
10-2026: 3.9%▲ +3.4 percentage points vs 09-2026highest value
11-2026: 3.9%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
2 changes of registered office in 24 months
Negative equity -€1.3m
Liquidity: current ratio 0.39, cash €74,172, halved
lowers risk
Size: total assets €5.7m
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 70, small). It does better than 1% of them on solvency, 22% on liquidity, 2% on profitability and 2% on growth.
The bankruptcy probability was computed on 09-11-2026 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 moderate class on 30-06-2025, 2.4% 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, 678 companies had the same profile as VERMAN has now. Each dot stands for 2 companies, two years later.
84.5%
were still trading
6.2%
stopped another way
6.8%
went bankrupt
Another 2.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of VERMAN itself: 3.9% within 12 months.
Test of the method
The method was tested on the 497,447 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 678 companies, not a prediction for VERMAN. 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
No credit on open account
Liquidity is insufficient, with a current ratio of 0.39 (0.24 in 2024), below 1. Short-term debt is 32.4% and cash 1.3% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€1.3m
neutral · A punctual record breaks
This company filed 8 consecutive financial years on time. The year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 09-02-2026, 9 days late. Weigh it accordingly: of the companies that move to filing 1 to 90 days late, 1.41% are now bankrupt, dissolved or in another special legal status, below the 1.66% of all filers. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
9 days late
2024
3 days early
2023
2 days early
2022
5 days early
2021
12 days early
2020
46 days early
2019
10 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 10 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% 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 28 January (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 end10-11-2026 today31-01-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0478451213
Registered office moved from Wingene to Comines
New registered office: Chaussée de Ten Brielen 1, 7780 COMINES · Previous registered office: Oude Bruggestraat 50, 8750 Wingene · “La société a pour objet de contribuer à la création et au développement d’entreprises, tant en Belgique qu’à…” (deed in Dutch) · General meeting of 24-09-2026 · Gazette deed
Amendment of the articles
Gazette deed
Appointment: Christof Vermeersch (director)
Legal-form conversion: from private limited company (pre-2019) to private limited company · General meeting of 26-11-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| VERMAN Comines-Warneton | €5.7m | €396,331 | -23.2% | 0 |
| LIGHT HOUSE CONSULTING Waregem | €5.3m | €372,655 | 30.8% | 0 |
| M. VERHULST MANAGEMENT Antwerp | €5.5m | €467,332 | 52.3% | 0 |
| All-Import Invest Sint-Gillis-Waas | €5.8m | €382,524 | 16.5% | 0 |
| MCH Vilvoorde | €5.4m | €423,116 | 55.0% | 0 |
| UNIMETAL Wingene | €4.7m | €366,508 | 40.8% | 0 |
| PHIDIAS Destelbergen | €5.3m | €326,201 | 57.0% | 0 |
These companies have the same main activity as VERMAN: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €4.7m and €5.8m, founded between 2001 and 2006.
Official details
Source: KBO- Status
- Active since 01-10-2002Normal situation
- Activity
- Business and other management consultancyNACE 70200and 3 others
- Establishment units
- 2.115.629.0898750 Wingene, since 03-12-2002
- 2.115.629.1887780 Comines-Warneton, since 19-12-2002
- Financial year end
- 30 June
- Peppol
- Reachable since 21-10-2026
Companies linked to VERMAN
Subsidiaries and holdings
Insights on VERMAN
VERMAN files the abbreviated format. That format states no turnover. The gross margin rose from €68,501 in 2007 to €396,331 in 2025.
The balance sheet grew most from 2019 to 2021 through fixed assets.
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 VERMAN
- What is the company number of VERMAN?
- The company number of VERMAN is 0478.451.213. The VAT number is the same number with BE in front: BE 0478.451.213.
- Where is VERMAN based?
- The registered office is at Ten-Brielensteenweg 1, 7780 Comines-Warneton.Company details
- What does VERMAN do?
- According to the KBO register, the main activity is business and other management consultancy (NACE 70200).
- What is the legal form of VERMAN?
- VERMAN is a private limited company (BV).
- When was VERMAN founded?
- VERMAN was founded on 01-10-2002.
- Is VERMAN still active?
- Yes, VERMAN is an active enterprise in the KBO register.
- What is the turnover of VERMAN?
- The turnover in financial year 2025 is ≈ €600,000. This figure is estimated from the gross margin of €396,331 and 74 comparable companies (NACE 70200). It probably lies between €470,000 and €1.1m.Financials
- Is VERMAN profitable?
- In financial year 2025, VERMAN made a loss of €647,380.
- Where can I find the annual accounts of VERMAN?
- VERMAN filed 22 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of VERMAN due?
- VERMAN must file the annual accounts for financial year 2026 by 31-01-2027.Timeline
Next steps
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