VERSUC
ActiveSummary
VERSUC has been active since 1998 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€254,645) and a net result of €23,592. Equity is shrinking by about 36% per year across the filed financial years. Its solvency ranks better than 6% of 558 sector peers (NACE 01, financial year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Financials · financial year 2025, full format
In the rankings
#7 company by total assets in Langemark-Poelkapelle, Agriculture, forestry and fishing sector
2025 annual accounts filed late (28 days) Filed on 28 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00459525.
Turnover
€192,914
EBIT margin
27.8%
Net result
€23,592
2024 · -€102,472
Working capital
-€2.4m▲ 0.3%
2024 · -€2.4m
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result returns to profit in 2025: €53,621 after a loss of €54,897 in 2024, the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€0.05m
2025
Net result€0.02m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€2.7m
2025
Equity-€0.3m
2025
Debt€3.0m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€2.4m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)0.9%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency-9.3%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.21
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)0.8
2019
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 01, Crop and animal production, hunting and related service activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0.2m
Operating result-€0.3m--€0.2m▲ 42.0%-€0.09m▲ 42.7%-€0.02m▲ 82.3%-€0.05m▼ 197%-€0.01m▲ 72.0%-€0.05m▼ 331%€0.05m
Net result-€0.3m--€0.2m▲ 41.8%-€0.1mbelow the sector's middle half▲ 38.7%-€0.03mbelow the sector's middle half▲ 74.7%-€0.05mbelow the sector's middle half▼ 99.3%-€0.03mbelow the sector's middle half▲ 39.6%-€0.1mbelow the sector's middle half▼ 226%€0.02mwithin the sector's middle half
EBIT margin27.8%
Equity€0.2m-€0.04m▼ 81.9%-€0.07mbelow the sector's middle half-€0.09mbelow the sector's middle half▼ 39.4%-€0.1mbelow the sector's middle half▼ 56.4%-€0.2mbelow the sector's middle half▼ 21.8%-€0.3mbelow the sector's middle half▼ 58.3%-€0.3mbelow the sector's middle half▲ 8.5%
Total assets€3.6m-€3.3m▼ 8.5%€3.1mabove the sector's middle half▼ 5.4%€3.0mwithin the sector's middle half▼ 1.7%€3.0mwithin the sector's middle half▲ 0.4%€2.9mwithin the sector's middle half▼ 5.7%€2.8mwithin the sector's middle half▼ 1.9%€2.7mwithin the sector's middle half▼ 2.4%
Debt€3.4m-€3.2m▼ 4.0%€3.1m▼ 2.2%€3.1m▼ 0.9%€3.2m▲ 2.0%€3.0m▼ 4.4%€3.1m▲ 1.6%€3.0m▼ 2.9%
Working capital-€0.4m--€0.6m▼ 65.5%-€0.8mbelow the sector's middle half▼ 27.6%-€0.8mbelow the sector's middle half▼ 4.0%-€0.9mbelow the sector's middle half▼ 6.4%-€0.9mbelow the sector's middle half=-€2.4mbelow the sector's middle half▼ 175%-€2.4mbelow the sector's middle half▲ 0.3%
Solvency5.8%-1.1%▼ 4.6pp-2.2%below the sector's middle half▼ 3.3pp-3.1%below the sector's middle half▼ 0.9pp-4.8%below the sector's middle half▼ 1.7pp-6.1%below the sector's middle half▼ 1.4pp-9.9%below the sector's middle half▼ 3.8pp-9.3%below the sector's middle half▲ 0.6pp
Current ratio0.79-0.64▼ 0.150.55below the sector's middle half▼ 0.090.53below the sector's middle half▼ 0.020.52below the sector's middle half▼ 0.010.46below the sector's middle half▼ 0.050.23below the sector's middle half▼ 0.240.21below the sector's middle half▼ 0.02
Return on assets (ROA)-8.1%--5.2%▲ 3.0pp-3.4%below the sector's middle half▲ 1.8pp-0.9%within the sector's middle half▲ 2.5pp-1.7%below the sector's middle half▼ 0.9pp-1.1%below the sector's middle half▲ 0.6pp-3.6%below the sector's middle half▼ 2.5pp0.9%within the sector's middle half▲ 4.5pp
Staff (FTE)1.1-0.8▼ 27.3%
above
within
below
the middle half of NACE 01, Crop and animal production, hunting and related service activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.7m
Fixed assets
€2.1m ▲ 0.8%
Current assets
€615,867 ▼ 11.9%
Equity and liabilities
Equity-€254,645
Debt€3.0m
Equity is negative: debt (€3.0m) exceeds the balance-sheet total (€2.7m).
Key figures and ratios
EBITDA
€55,018
Cash flow
€24,989
Quick ratio
0.20▼
2024 · 0.23
Interest coverage
over 100
Debt ≤ 1 year
€3.0m▼
2024 · €3.1m
Income taxes
€29,844▲
2024 · €9,260
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | - | - | - | €192,914 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | - | - | - | €137,768 | - |
| Remuneration, social security and pensions62 | - | - | €4,776 | €684 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23,192 | €17,980 | €17,980 | €12,713 | - | - | - | €1,397 | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | €18,894 | - | - |
| Other operating charges640/8 | - | - | €322 | €951 | €2,105 | €365 | €751 | €128 | ▼ 83.0% |
| Gross operating margin9900 | -€180,959 | -€84,460 | -€63,693 | -€976 | -€43,358 | -€12,374 | -€35,252 | €55,146 | - |
| Operating profit (loss)9901 | -€261,145 | -€151,561 | -€86,771 | -€15,324 | -€45,463 | -€12,739 | -€54,897 | €53,621 | - |
| Financial income75/76B | - | - | €41 | - | €177 | €265 | €398 | €31 | ▼ 92.2% |
| Recurring financial income75 | €68 | €68 | €41 | - | €177 | €265 | €398 | €31 | ▼ 92.2% |
| Financial charges65/66B | - | - | €16,619 | €10,781 | €6,698 | €18,879 | €38,713 | €215 | ▼ 99.4% |
| Recurring financial charges65 | €28,394 | €16,979 | €16,619 | €10,781 | €6,698 | €18,879 | €38,713 | €215 | ▼ 99.4% |
| Profit (loss) for the period before taxes9903 | -€289,471 | -€168,472 | -€103,349 | -€26,105 | -€51,984 | -€31,353 | -€93,212 | €53,437 | - |
| Income taxes67/77 | - | - | - | - | €53 | €79 | €9,260 | €29,844 | ▲ 222% |
| Profit (loss) for the period9904 | -€289,471 | -€168,472 | -€103,349 | -€26,105 | -€52,037 | -€31,432 | -€102,472 | €23,592 | - |
| Profit (loss) for the period to be appropriated9905 | -€289,471 | -€168,472 | -€103,349 | -€26,105 | -€52,037 | -€31,432 | -€102,472 | €23,592 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €3.6m | €3.3m | €3.1m | €3.0m | €3.0m | €2.9m | €2.8m | €2.7m | ▼ 2.4% |
| Fixed assets21/28 | €2.2m | €2.1m | €2.1m | €2.1m | €2.1m | €2.1m | €2.1m | €2.1m | ▲ 0.8% |
| Tangible fixed assets22/27 | €0.05m | €0.03m | €0.01m | - | - | - | - | €0.02m | - |
| Land and buildings22 | - | - | - | - | - | - | - | €0.002m | - |
| Plant, machinery and equipment23 | - | - | €0.002m | - | - | - | - | €0.005m | - |
| Leasing and similar rights25 | - | - | €0.01m | - | - | - | - | - | - |
| Other tangible fixed assets26 | - | - | - | - | - | - | - | €0.01m | - |
| Financial fixed assets28 | €2.1m | €2.1m | €2.1m | €2.1m | €2.1m | €2.1m | €2.1m | €2.1m | = |
| Current assets29/58 | €1.4m | €1.1m | €1.0m | €0.9m | €0.9m | €0.8m | €0.7m | €0.6m | ▼ 11.9% |
| Stocks and contracts in progress3 | €0.5m | €0.2m | €0.05m | €0.01m | - | - | - | €0.006m | - |
| Stocks30/36 | - | - | €0.05m | €0.01m | - | - | - | €0.006m | - |
| Amounts receivable within one year40/41 | €0.8m | €0.9m | €0.9m | €0.8m | €0.9m | €0.7m | €0.7m | €0.6m | ▼ 14.8% |
| Trade receivables40 | - | - | €0.2m | €0.1m | €0.1m | €0.2m | €0.1m | €0.04m | ▼ 72.7% |
| Other amounts receivable41 | - | - | €0.6m | €0.7m | €0.7m | €0.5m | €0.5m | €0.5m | ▲ 1.1% |
| Current investments50/53 | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | - | - | - |
| Cash at bank and in hand54/58 | €0.03m | €0.002m | €0.004m | €0.02m | €0.02m | €0.007m | €0.01m | €0.02m | ▲ 58.0% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | - | €0.004m | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €3.6m | €3.3m | €3.1m | €3.0m | €3.0m | €2.9m | €2.8m | €2.7m | ▼ 2.4% |
| Equity10/15 | €0.2m | €0.04m | -€0.07m | -€0.09m | -€0.1m | -€0.2m | -€0.3m | -€0.3m | ▲ 8.5% |
| Contributions10/11 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Capital10 | - | - | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Issued capital100 | - | - | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Reserves13 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Non-distributable reserves130/1 | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Legal reserve130 | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Distributable reserves133 | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Profit (loss) carried forward14 | -€0.8m | -€1.0m | -€1.1m | -€1.1m | -€1.2m | -€1.2m | -€1.3m | -€1.3m | ▲ 1.8% |
| Amounts payable17/49 | €3.4m | €3.2m | €3.1m | €3.1m | €3.2m | €3.0m | €3.1m | €3.0m | ▼ 2.9% |
| Amounts payable after more than one year17 | €1.6m | €1.5m | €1.4m | €1.4m | €1.4m | €1.4m | - | - | - |
| Financial debts170/4 | - | - | €1.4m | €1.4m | €1.4m | €1.4m | - | - | - |
| Amounts payable within one year42/48 | €1.8m | €1.7m | €1.7m | €1.7m | €1.8m | €1.6m | €3.1m | €3.0m | ▼ 2.9% |
| Current portion of amounts payable after more than one year42 | - | - | €0.08m | €0.03m | €0.02m | - | - | - | - |
| Financial debts43 | - | - | €0.2m | €0.2m | €0.2m | - | - | - | - |
| Credit institutions430/8 | - | - | €0.2m | €0.2m | €0.2m | - | - | - | - |
| Trade debts44 | €1.4m | €1.4m | €1.1m | €1.4m | €1.4m | €1.5m | €1.2m | €1.5m | ▲ 26.2% |
| Suppliers440/4 | - | - | €1.1m | €1.4m | €1.4m | €1.5m | €1.2m | €1.5m | ▲ 26.2% |
| Taxes, remuneration and social security45 | - | - | - | - | - | - | - | €0.01m | - |
| Taxes450/3 | - | - | - | - | - | - | - | €0.01m | - |
| Other amounts payable47/48 | - | - | €0.3m | €0.1m | €0.2m | €0.1m | €1.9m | €1.5m | ▼ 20.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€289,471 | -€168,472 | -€103,349 | -€26,105 | -€52,037 | -€31,432 | -€102,472 | €23,592 | - |
| + Depreciation and write-downs630 | €23,192 | €17,980 | €17,980 | €12,713 | - | - | - | €1,397 | - |
| Operating cash flow (approximation) | -€266,279 | -€150,492 | -€85,369 | -€13,392 | -€52,037 | -€31,432 | -€102,472 | €24,989 | - |
| Investment in fixed assets (approximation) | - | €1 | €0 | €0 | €0 | €0 | €0 | -€18,572 | - |
| Change in cash | - | -€25,337 | €2,819 | €14,240 | €628 | -€11,826 | €5,855 | €7,719 | ▲ 31.8% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 27 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 28-08-2026 | 2026-00459525 |
| 31-12-2024 | abbreviated format | 15-12-2025 | 2025-00582379 |
| 31-12-2023 | abbreviated format | 30-06-2025 | 2025-00204502 |
| 31-12-2022 | abbreviated format | 02-07-2024 | 2024-00194453 |
| 31-12-2021 | abbreviated format | 13-03-2023 | 2023-00038604 |
| 31-12-2020 | abbreviated format | 13-03-2023 | 2023-00038592 |
| 31-12-2019 | abbreviated format | 05-03-2021 | 2021-07000128 |
| 31-12-2018 | abbreviated format | 03-04-2020 | 2020-08500266 |
| 31-12-2017 | micro format | 30-08-2018 | 2018-56600473 |
| 31-12-2016 | micro format | 30-08-2017 | 2017-53900597 |
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of the 7,545 active companies whose main activity is raising of dairy cattle (NACE 01410), figures are known for 1,864. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.