VERO DESIGN
ActiveSummary
VERO DESIGN has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€61,159) and a net result of -€131,498. Equity is shrinking by ~8% per year across the filed fiscal years. Its solvency ranks better than 5% of 7900 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency0▼-55
Growth32=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.79 against 1.38 in 2024; short-term debt: 126.8% and cash: 16.7% 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
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
-26.8%
Return on assets
-57.7%
Age of the figures
9 mo
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 -€61,159
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 14-07-2026, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 d early
2024
125 d late
2023
672 d late
2022
1 d early
2021
on the day
2020
2 d early
2019
7 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 112 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
-€61,159
2024 · €70,339
Total assets
€228,038▼ 3.1%
2024 · €235,370
Net result
-€131,498▼ 269%
2024 · -€35,639
Working capital
-€61,747
2024 · €63,530
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€3,820€6,902€28,458▲ 312%-€25,453-€126,762▼ 398%
Net result-€9,458below the sector's middle half€116below the sector's middle half€13,402within the sector's middle half▲ 11,422%-€35,639below the sector's middle half-€131,498below the sector's middle half▼ 269%
Equity€92,459within the sector's middle half▼ 9.3%€92,575within the sector's middle half▲ 0.1%€105,978within the sector's middle half▲ 14.5%€70,339within the sector's middle half▼ 33.6%-€61,159below the sector's middle half
Total assets€199,505within the sector's middle half▲ 5.0%€316,303above the sector's middle half▲ 58.5%€280,524within the sector's middle half▼ 11.3%€235,370within the sector's middle half▼ 16.1%€228,038below the sector's middle half▼ 3.1%
Debt€107,046▲ 21.5%€223,727▲ 109%€174,547▼ 22.0%€165,031▼ 5.5%€289,197▲ 75.2%
Working capital€70,085▼ 14.8%€73,223▲ 4.5%€92,418▲ 26.2%€63,530▼ 31.3%-€61,747
Solvency46.3%within the sector's middle half▼ 7.3pp29.3%within the sector's middle half▼ 17.1pp37.8%within the sector's middle half▲ 8.5pp29.9%within the sector's middle half▼ 7.9pp-26.8%below the sector's middle half▼ 56.7pp
Staff (FTE)4.33.8▼ 11.6%2.8▼ 26.3%3.4▲ 21.4%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
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 stays negative: a loss of €126,762 in 2025 against €25,453 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €228,038
Fixed assets
€588 ▼ 91.4%
Current assets
€227,450 ▼ 0.5%
Key figures and ratios
EBITDA
-€126,599▼
2024 · -€15,700
Cash flow
-€131,335▼
2024 · -€25,885
Current ratio
0.79▼
2024 · 1.38
Debt to equity
-4.73▼
2024 · 2.35
ROA
-57.7%▼
2024 · -15.1%
Interest coverage
-42.72▼
2024 · -1.50
Debt ≤ 1 year
€289,197▲
2024 · €165,031
Income taxes
€2,052
Staff costs
-€3,247▼
2024 · €212,638
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,639 companies that looked in July 2024 the way this one looks now, 4.1% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
4.1%
went bankrupt
9.8%
stopped otherwise
84%
still going
A further 2.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,639 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €1,250 | - | €22,374 | - | - |
| Remuneration, social security and pensions62 | - | €146,406 | €131,494 | €212,638 | -€3,247 | ▼ 102% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,078 | €7,722 | €8,241 | €9,754 | €163 | ▼ 98.3% |
| Other operating charges640/8 | - | €2,251 | €4,773 | €4,003 | €5,175 | ▲ 29.3% |
| Non-recurring operating charges66A | - | - | - | €10,755 | - | - |
| Gross operating margin9900 | €144,585 | €163,282 | €172,965 | €211,696 | -€124,671 | ▼ 159% |
| Operating profit (loss)9901 | -€3,820 | €6,902 | €28,458 | -€25,453 | -€126,762 | ▼ 398% |
| Financial income75/76B | - | €115 | €3,879 | €251 | €3,968 | ▲ 1,482% |
| Recurring financial income75 | €283 | €115 | €3,879 | €251 | €3,968 | ▲ 1,482% |
| Financial charges65/66B | - | €6,510 | €8,678 | €10,437 | €6,651 | ▼ 36.3% |
| Recurring financial charges65 | €5,535 | €6,510 | €8,678 | €10,437 | €2,964 | ▼ 71.6% |
| Non-recurring financial charges66B | - | - | - | - | €3,688 | - |
| Profit (loss) for the period before taxes9903 | -€9,073 | €507 | €23,658 | -€35,639 | -€129,446 | ▼ 263% |
| Income taxes67/77 | €385 | €391 | €10,256 | - | €2,052 | - |
| Profit (loss) for the period9904 | -€9,458 | €116 | €13,402 | -€35,639 | -€131,498 | ▼ 269% |
| Profit (loss) for the period to be appropriated9905 | -€9,458 | €116 | €13,402 | -€35,639 | -€131,498 | ▼ 269% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €199,505 | €316,303 | €280,524 | €235,370 | €228,038 | ▼ 3.1% |
| Fixed assets21/28 | €22,374 | €19,352 | €13,559 | €6,809 | €588 | ▼ 91.4% |
| Intangible fixed assets21 | €5,132 | €3,421 | €3,086 | €1,683 | €588 | ▼ 65.1% |
| Tangible fixed assets22/27 | €17,242 | €15,930 | €10,473 | €2,756 | - | - |
| Plant, machinery and equipment23 | - | €10,397 | €7,912 | €2,756 | - | - |
| Furniture and vehicles24 | - | €5,533 | €2,561 | - | - | - |
| Financial fixed assets28 | - | - | - | €2,370 | - | - |
| Current assets29/58 | €177,130 | €296,951 | €266,965 | €228,561 | €227,450 | ▼ 0.5% |
| Stocks and contracts in progress3 | €100,429 | €115,574 | €110,945 | €80,097 | - | - |
| Stocks30/36 | - | €115,574 | €110,945 | €80,097 | - | - |
| Amounts receivable within one year40/41 | €44,111 | €160,822 | €121,749 | €122,100 | €189,414 | ▲ 55.1% |
| Trade receivables40 | - | €133,871 | €82,927 | €49,765 | €76,797 | ▲ 54.3% |
| Other amounts receivable41 | - | €26,951 | €38,823 | €72,335 | €112,617 | ▲ 55.7% |
| Current investments50/53 | €2,295 | €451 | €413 | €44 | €43 | ▼ 1.0% |
| Cash at bank and in hand54/58 | €21,556 | €12,948 | €13,561 | €26,177 | €37,993 | ▲ 45.1% |
| Deferred charges and accrued income490/1 | - | €7,156 | €20,297 | €144 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €199,505 | €316,303 | €280,524 | €235,370 | €228,038 | ▼ 3.1% |
| Equity10/15 | €92,459 | €92,575 | €105,978 | €70,339 | -€61,159 | ▼ 187% |
| Contributions10/11 | €65,000 | €65,000 | €65,000 | €65,000 | €65,000 | = |
| Capital10 | - | €65,000 | €65,000 | €65,000 | €65,000 | = |
| Issued capital100 | - | €65,000 | €65,000 | €65,000 | €65,000 | = |
| Reserves13 | €42,380 | €42,380 | €42,380 | €42,380 | €42,380 | = |
| Non-distributable reserves130/1 | - | €6,500 | €6,500 | €6,500 | €6,500 | = |
| Legal reserve130 | - | €6,500 | €6,500 | €6,500 | €6,500 | = |
| Tax-exempt reserves132 | - | €24,880 | €24,880 | €24,880 | €24,880 | = |
| Distributable reserves133 | - | €11,000 | €11,000 | €11,000 | €11,000 | = |
| Profit (loss) carried forward14 | -€14,922 | -€14,805 | -€1,403 | -€37,042 | -€168,540 | ▼ 355% |
| Amounts payable17/49 | €107,046 | €223,727 | €174,547 | €165,031 | €289,197 | ▲ 75.2% |
| Amounts payable within one year42/48 | €107,046 | €223,727 | €174,547 | €165,031 | €289,197 | ▲ 75.2% |
| Financial debts43 | - | €69,269 | €65,376 | - | - | - |
| Credit institutions430/8 | - | €69,269 | €65,376 | - | - | - |
| Trade debts44 | €61,624 | €94,234 | €71,022 | €146,859 | €289,197 | ▲ 96.9% |
| Suppliers440/4 | - | €94,234 | €71,022 | €146,859 | €289,197 | ▲ 96.9% |
| Advances received on contracts in progress46 | - | €20,570 | - | - | - | - |
| Taxes, remuneration and social security45 | - | €6,253 | €20,665 | €18,173 | - | - |
| Taxes450/3 | - | €6,253 | €8,599 | €6,842 | - | - |
| Remuneration and social security454/9 | - | €0 | €12,065 | €11,331 | - | - |
| Other amounts payable47/48 | - | €33,401 | €17,485 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€9,458 | €116 | €13,402 | -€35,639 | -€131,498 | ▼ 269% |
| + Depreciation and write-downs630 | €7,078 | €7,722 | €8,241 | €9,754 | €163 | ▼ 98.3% |
| Operating cash flow (approximation) | -€2,380 | €7,838 | €21,643 | -€25,885 | -€131,335 | ▼ 407% |
| Investment in fixed assets (approximation) | - | -€4,700 | -€2,449 | -€3,003 | €6,058 | ▲ 302% |
| Change in cash | - | -€8,608 | €613 | €12,616 | €11,816 | ▼ 6.3% |
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
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€131,498
Net result drops to -€131,498, the lowest in the series.
03-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 125 days late
03-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 672 days late
2023
30-06
Financial
Equity above €100,000Eq €105,978 ▲14.5%
2 profitable years in a row build equity to €105,978.
30-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Back to profitnet €116
Net result €116 after one loss-making year.
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
Financial
Equity above €100,000Eq €101,917 ▲10.6%
2 profitable years in a row build equity to €101,917.
07-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 7 days late
2019
06-02
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 6 days late
2018
01-02
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 1 day late
2017
31-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 59 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Zedelgem · 1 establishment unit since 1994
Ground area
9,451 m²
Building footprint
1,726 m²
Volume, LiDAR
2,627 m³
2 parcels, Flanders · tallest building 12.7 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Torhoutsesteenweg 206, 8210 Zedelgem
since 19942.068.967.438
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31040D0221/00G002 | Flanders | 6,780 m² | 1 · 503 m² | 12.7 m · 2 fl. |
| 31040D0488/00T000 | Flanders | 2,671 m² | 1 · 1,223 m² | - |
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.
Public money · subsidies and aid
Flemish government
2023 to 2024 · 2 entries · 3,000 EUR awarded · 3,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 0 EUR | 3,000 EUR |
| 2023 | 1 | 3,000 EUR | 0 EUR |
Recognitions · licences · registrations
Dual-learning approval
1 endedLasser MIG/MAG (so)
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Of 497 companies in sector 43223 we hold annual accounts for 115. 97 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded20-09-1994
Fiscal year end31-12
Activities, NACEBEL 2025
43223Specialised construction activities
43120Site preparation
43910Bricklaying and masonry work
47789Other retail sale of new goods
Contact
E-mail
marten@m-design.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0453397103
Registered
28-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.