VERT EXPLOSIF
ActiveSummary
The computed 12-month bankruptcy probability of VERT EXPLOSIF is 2.7% (moderate). The 2024 annual accounts show equity of €63,110 and a net result of €6,384. Equity is growing by ~29.5% per year across the filed fiscal years. Its solvency ranks better than 72% of 5899 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability80▼-11
Solvency88▲+12
Growth65▼-3
Track record94
Bankruptcy probability, 12 months
2.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity ample (current ratio 2.53 against 1.8 in 2023; short-term debt: 27% and cash: 38.7% of total assets), and 37.1% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 81
Relative position
BE, all sectors
reference
Services to buildings and landscape activities (NACE 81)
about 79% more 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 2024Solvency, return and age of the figures
Solvency
62.9%
Return on assets
6.4%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-06-2025, 31 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
not confirmed
2024
31 d early
2023
29 d late
2022
29 d late
2021
29 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 14 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 43% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
€199,432▼ 6.1%
2023 · €212,435
EBIT margin
5.3%▼ 5.9pp
2023 · 11.2%
Net result
€6,384▼ 60.1%
2023 · €16,016
Working capital
€41,350▲ 49.8%
2023 · €27,600
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 81, Services to buildings and landscape 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
Line2021202220232024
Turnover€123,297-€177,353▲ 43.8%€212,435▲ 19.8%€199,432▼ 6.1%
Operating result€32,061-€22,022▼ 31.3%€23,773▲ 8.0%€10,513▼ 55.8%
Net result€22,724within the sector's middle half-€15,986within the sector's middle half▼ 29.7%€16,016within the sector's middle half▲ 0.2%€6,384within the sector's middle half▼ 60.1%
EBIT margin26.0%-12.4%▼ 13.6pp11.2%▼ 1.2pp5.3%▼ 5.9pp
Equity€24,724within the sector's middle half-€40,710within the sector's middle half▲ 64.7%€56,726within the sector's middle half▲ 39.3%€63,110within the sector's middle half▲ 11.3%
Total assets€84,729within the sector's middle half-€97,744within the sector's middle half▲ 15.4%€110,187within the sector's middle half▲ 12.7%€100,266within the sector's middle half▼ 9.0%
Debt€60,005-€57,034▼ 5.0%€53,461▼ 6.3%€37,156▼ 30.5%
Working capital-€11,383below the sector's middle half-€7,976within the sector's middle half€27,600within the sector's middle half▲ 246%€41,350within the sector's middle half▲ 49.8%
Solvency29.2%within the sector's middle half-41.6%within the sector's middle half▲ 12.5pp51.5%within the sector's middle half▲ 9.8pp62.9%within the sector's middle half▲ 11.5pp
Current ratio0.72below the sector's middle half-1.20within the sector's middle half▲ 0.481.80within the sector's middle half▲ 0.612.53within the sector's middle half▲ 0.73
Return on assets (ROA)26.8%above the sector's middle half-16.4%within the sector's middle half▼ 10.5pp14.5%within the sector's middle half▼ 1.8pp6.4%within the sector's middle half▼ 8.2pp
Staff (FTE)0.11.3▲ 1,200%1.8▲ 38.5%
above
within
below
the middle half (P25 to P75) of NACE 81, Services to buildings and landscape activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 56% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €100,266
Fixed assets
€31,890 ▼ 33.8%
Current assets
€68,376 ▲ 10.2%
Equity and liabilities €100,266
Equity
€63,110 ▲ 11.3%
Debt
€37,156 ▼ 30.5%
Debt's share of the balance-sheet total falls from 48.5% to 37.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€33,546▼
2023 · €49,989
Cash flow
€29,417▼
2023 · €42,232
Debt to equity
0.59▼
2023 · 0.94
ROE
10.1%▼
2023 · 28.2%
Interest coverage
24.85▼
2023 · 32.38
Debt ≤ 1 year
€27,026▼
2023 · €34,430
Debt > 1 year
€10,130▼
2023 · €19,031
Income taxes
€2,779▼
2023 · €6,213
Staff costs
€16,791▲
2023 · €11,369
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 2.7% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 26,970 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 | Change |
|---|---|---|---|---|---|
| Turnover70 | €123,297 | €177,353 | €212,435 | €199,432 | ▼ 6.1% |
| Goods, raw materials, services and sundry goods60/61 | €83,080 | €132,895 | €150,305 | €146,246 | ▼ 2.7% |
| Remuneration, social security and pensions62 | - | €368 | €11,369 | €16,791 | ▲ 47.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,429 | €21,340 | €26,216 | €23,033 | ▼ 12.1% |
| Other operating charges640/8 | €727 | €728 | €772 | €951 | ▲ 23.2% |
| Non-recurring operating charges66A | - | - | - | €1,898 | - |
| Gross operating margin9900 | €40,217 | €44,458 | €62,130 | €53,186 | ▼ 14.4% |
| Operating profit (loss)9901 | €32,061 | €22,022 | €23,773 | €10,513 | ▼ 55.8% |
| Financial charges65/66B | €887 | €911 | €1,544 | €1,350 | ▼ 12.6% |
| Recurring financial charges65 | €887 | €911 | €1,544 | €1,350 | ▼ 12.6% |
| Profit (loss) for the period before taxes9903 | €31,174 | €21,111 | €22,229 | €9,163 | ▼ 58.8% |
| Income taxes67/77 | €8,450 | €5,125 | €6,213 | €2,779 | ▼ 55.3% |
| Profit (loss) for the period9904 | €22,724 | €15,986 | €16,016 | €6,384 | ▼ 60.1% |
| Profit (loss) for the period to be appropriated9905 | €22,724 | €15,986 | €16,016 | €6,384 | ▼ 60.1% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €84,729 | €97,744 | €110,187 | €100,266 | ▼ 9.0% |
| Fixed assets21/28 | €56,171 | €49,144 | €48,157 | €31,890 | ▼ 33.8% |
| Intangible fixed assets21 | €453 | - | - | - | - |
| Tangible fixed assets22/27 | €55,198 | €48,624 | €47,637 | €31,370 | ▼ 34.1% |
| Plant, machinery and equipment23 | €41,530 | €35,068 | €39,837 | €29,120 | ▼ 26.9% |
| Furniture and vehicles24 | €13,668 | €13,556 | €7,800 | €2,250 | ▼ 71.2% |
| Financial fixed assets28 | €520 | €520 | €520 | €520 | = |
| Current assets29/58 | €28,558 | €48,600 | €62,030 | €68,376 | ▲ 10.2% |
| Amounts receivable within one year40/41 | €21,102 | €29,493 | €29,242 | €29,544 | ▲ 1.0% |
| Trade receivables40 | €20,363 | €26,633 | €24,595 | €22,523 | ▼ 8.4% |
| Other amounts receivable41 | €739 | €2,860 | €4,647 | €7,021 | ▲ 51.1% |
| Cash at bank and in hand54/58 | €6,246 | €16,612 | €31,569 | €38,832 | ▲ 23.0% |
| Deferred charges and accrued income490/1 | €1,210 | €2,495 | €1,219 | - | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €84,729 | €97,744 | €110,187 | €100,266 | ▼ 9.0% |
| Equity10/15 | €24,724 | €40,710 | €56,726 | €63,110 | ▲ 11.3% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | €22,000 | €37,000 | €52,000 | €58,000 | ▲ 11.5% |
| Distributable reserves133 | €22,000 | €37,000 | €52,000 | €58,000 | ▲ 11.5% |
| Profit (loss) carried forward14 | €724 | €1,710 | €2,726 | €3,110 | ▲ 14.1% |
| Amounts payable17/49 | €60,005 | €57,034 | €53,461 | €37,156 | ▼ 30.5% |
| Amounts payable after more than one year17 | €20,064 | €16,410 | €19,031 | €10,130 | ▼ 46.8% |
| Financial debts170/4 | €20,064 | €16,410 | €19,031 | €10,130 | ▼ 46.8% |
| Amounts payable within one year42/48 | €39,941 | €40,624 | €34,430 | €27,026 | ▼ 21.5% |
| Current portion of amounts payable after more than one year42 | €7,100 | €11,884 | €14,444 | €11,442 | ▼ 20.8% |
| Trade debts44 | €28,261 | €13,973 | €15,466 | €8,473 | ▼ 45.2% |
| Suppliers440/4 | €28,261 | €13,973 | €15,466 | €8,473 | ▼ 45.2% |
| Taxes, remuneration and social security45 | €4,450 | €14,637 | €4,517 | €7,108 | ▲ 57.4% |
| Taxes450/3 | €4,450 | €7,270 | €2,804 | €4,427 | ▲ 57.9% |
| Remuneration and social security454/9 | - | €7,367 | €1,713 | €2,681 | ▲ 56.5% |
| Other amounts payable47/48 | €130 | €130 | €3 | €3 | = |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €22,724 | €15,986 | €16,016 | €6,384 | ▼ 60.1% |
| + Depreciation and write-downs630 | €7,429 | €21,340 | €26,216 | €23,033 | ▼ 12.1% |
| Operating cash flow (approximation) | €30,153 | €37,326 | €42,232 | €29,417 | ▼ 30.3% |
| Investment in fixed assets (approximation) | - | -€14,313 | -€25,229 | -€6,766 | ▲ 73.2% |
| Change in cash | - | €10,366 | €14,957 | €7,263 | ▼ 51.4% |
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
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €6,384 ▼60.1%
Net result drops to €6,384, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Braives · 1 establishment unit since 2021
Ground area
381 m²
Building footprint
95 m²
Volume, LiDAR
749 m³
Parcel 64015A0943/00V003, Wallonia · tallest building 9.3 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
VERT EXPLOSIF
since 20212.315.967.941
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 64015A0943/00V003 | Wallonia | 381 m² | 1 · 95 m² | 9.3 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 21,225 companies in sector 81300 we hold annual accounts for 4,369. 3,651 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
Founded16-04-2021
Fiscal year end31-12
Activities, NACEBEL 2025
81300Landscape service activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0766831124
Also
9925:BE0766831124
Registered
25-01-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.