VERTAS
ActiveSummary
VERTAS has been active since 2002 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €134,771 and a net result of €6,454. Equity is growing by about 8.6% per year across the filed financial years. Its solvency ranks better than 57% of 39,200 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Financials · financial year 2025, micro format
2025 annual accounts filed late (2 days) Filed on 2 April 2026, deadline 31 March 2026 (7 months after the close on 31 August 2025, Companies Code art. 3:10). Source: NBB, 2026-00071051.
Turnover
≈ €30,000
Estimated: probably between €14,000 and €61,000
Total assets
€215,682▲ 3.6%
2024 · €208,186
Net result
€6,454
2024 · -€72,779
Working capital
€54,742▲ 13.4%
2024 · €48,287
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result returns to profit in 2025: €6,514 after a loss of €72,651 in 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€6,514
2025
Net result€6,454
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€215,682
2025
Equity€134,771
2025
Debt€80,911
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€54,742
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)3.0%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency62.5%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio2.44
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy 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).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€15,787-€38,568▲ 144%€54,908▲ 42.4%€7,627▼ 86.1%-€12,096-€72,651▼ 501%€6,514
Net result€10,677-€30,205within the sector's middle half▲ 183%€40,941within the sector's middle half▲ 35.5%-€4,749below the sector's middle half-€6,614below the sector's middle half▼ 39.3%-€72,779below the sector's middle half▼ 1,000%€6,454within the sector's middle half
Equity€66,312-€96,517within the sector's middle half▲ 45.6%€137,458within the sector's middle half▲ 42.4%€132,709within the sector's middle half▼ 3.5%€201,095within the sector's middle half▲ 51.5%€128,316within the sector's middle half▼ 36.2%€134,771within the sector's middle half▲ 5.0%
Total assets€162,343-€254,370within the sector's middle half▲ 56.7%€325,605within the sector's middle half▲ 28.0%€335,675within the sector's middle half▲ 3.1%€284,251within the sector's middle half▼ 15.3%€208,186within the sector's middle half▼ 26.8%€215,682within the sector's middle half▲ 3.6%
Debt€96,032-€157,853▲ 64.4%€188,148▲ 19.2%€202,966▲ 7.9%€83,156▼ 59.0%€79,870▼ 4.0%€80,911▲ 1.3%
Working capital€27,248-€100,869within the sector's middle half▲ 270%€170,218above the sector's middle half▲ 68.8%€174,709above the sector's middle half▲ 2.6%€121,066within the sector's middle half▼ 30.7%€48,287within the sector's middle half▼ 60.1%€54,742within the sector's middle half▲ 13.4%
Solvency40.8%-37.9%within the sector's middle half▼ 2.9pp42.2%within the sector's middle half▲ 4.3pp39.5%within the sector's middle half▼ 2.7pp70.7%within the sector's middle half▲ 31.2pp61.6%within the sector's middle half▼ 9.1pp62.5%within the sector's middle half▲ 0.9pp
Current ratio2.11-3.37within the sector's middle half▲ 1.254.70above the sector's middle half▲ 1.345.60above the sector's middle half▲ 0.904.01within the sector's middle half▼ 1.592.31within the sector's middle half▼ 1.702.44within the sector's middle half▲ 0.13
Return on assets (ROA)6.6%-11.9%within the sector's middle half▲ 5.3pp12.6%within the sector's middle half▲ 0.7pp-1.4%below the sector's middle half▼ 14.0pp-2.3%below the sector's middle half▼ 0.9pp-35.0%below the sector's middle half▼ 32.6pp3.0%within the sector's middle half▲ 38.0pp
above
within
below
the middle half of NACE 70, Activities of head offices; management consultancy 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.
Turnover and EBIT margin not published: the micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €215,682
Fixed assets
€123,000 =
Current assets
€92,682 ▲ 8.8%
Equity and liabilities €215,682
Equity
€134,771 ▲ 5.0%
Debt
€80,911 ▲ 1.3%
Debt's share of the balance-sheet total falls from 38.4% to 37.5%. Equity and debt are higher.
Key figures and ratios
Debt to equity
0.60▼
2024 · 0.62
ROE
4.8%▲
2024 · -56.7%
Debt ≤ 1 year
€37,940▲
2024 · €36,899
Debt > 1 year
€42,971=
2024 · €42,971
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €745 | €912 | €1,423 | €400 | - | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €35,022 | €83,572 | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €29 | - | - | - |
| Other operating charges640/8 | - | - | - | €248 | €1,298 | €636 | - | - |
| Gross operating margin9900 | €16,531 | €40,227 | €56,472 | €8,275 | €24,254 | €11,556 | €6,514 | ▼ 43.6% |
| Operating profit (loss)9901 | €15,787 | €38,568 | €54,908 | €7,627 | -€12,096 | -€72,651 | €6,514 | - |
| Financial income75/76B | - | - | - | - | €4,800 | - | - | - |
| Recurring financial income75 | - | €1 | €0 | - | €4,800 | - | - | - |
| Non-recurring financial income76B | - | - | - | - | €4,800 | - | - | - |
| Financial charges65/66B | - | - | - | €5,462 | €325 | €127 | €59 | ▼ 53.5% |
| Recurring financial charges65 | €628 | €297 | €233 | €433 | €325 | €127 | €59 | ▼ 53.5% |
| Non-recurring financial charges66B | - | - | - | €5,029 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €13,758 | €38,273 | €54,675 | €2,165 | -€7,621 | -€72,779 | €6,454 | - |
| Income taxes67/77 | €3,081 | €8,067 | €13,734 | €6,914 | -€1,007 | - | - | - |
| Profit (loss) for the period9904 | €10,677 | €30,205 | €40,941 | -€4,749 | -€6,614 | -€72,779 | €6,454 | - |
| Profit (loss) for the period to be appropriated9905 | €10,677 | €30,205 | €40,941 | -€4,749 | -€6,614 | -€72,779 | €6,454 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €162,343 | €254,370 | €325,605 | €335,675 | €284,251 | €208,186 | €215,682 | ▲ 3.6% |
| Fixed assets21/28 | €110,564 | €110,853 | €109,429 | €123,000 | €123,000 | €123,000 | €123,000 | = |
| Tangible fixed assets22/27 | €6,564 | €6,853 | €5,429 | - | - | - | - | - |
| Financial fixed assets28 | €104,000 | €104,000 | €104,000 | €123,000 | €123,000 | €123,000 | €123,000 | = |
| Current assets29/58 | €51,779 | €143,518 | €216,176 | €212,675 | €161,251 | €85,186 | €92,682 | ▲ 8.8% |
| Amounts receivable after more than one year29 | - | - | - | €108,029 | €105,064 | - | - | - |
| Other amounts receivable291 | - | - | - | €108,029 | €105,064 | - | - | - |
| Amounts receivable within one year40/41 | €23,620 | €91,293 | €137,000 | €62,272 | €55,886 | €66,181 | €91,676 | ▲ 38.5% |
| Trade receivables40 | - | - | - | €49,210 | €4,800 | €19,473 | €33,776 | ▲ 73.5% |
| Other amounts receivable41 | - | - | - | €13,062 | €51,086 | €46,708 | €57,900 | ▲ 24.0% |
| Cash at bank and in hand54/58 | €3,160 | €1,224 | €1,676 | €155 | €300 | €19,006 | €1,006 | ▼ 94.7% |
| Deferred charges and accrued income490/1 | - | - | - | €42,219 | - | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €162,343 | €254,370 | €325,605 | €335,675 | €284,251 | €208,186 | €215,682 | ▲ 3.6% |
| Equity10/15 | €66,312 | €96,517 | €137,458 | €132,709 | €201,095 | €128,316 | €134,771 | ▲ 5.0% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €93,600 | €93,600 | €93,600 | = |
| Reserves13 | €41,860 | €71,860 | €116,860 | €116,860 | €116,860 | €116,860 | €116,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €115,000 | €115,000 | €115,000 | €115,000 | = |
| Profit (loss) carried forward14 | €5,852 | €6,057 | €1,998 | -€2,751 | -€9,365 | -€82,144 | -€75,689 | ▲ 7.9% |
| Amounts payable17/49 | €96,032 | €157,853 | €188,148 | €202,966 | €83,156 | €79,870 | €80,911 | ▲ 1.3% |
| Amounts payable after more than one year17 | €46,500 | €97,500 | €124,600 | €123,000 | €42,971 | €42,971 | €42,971 | = |
| Financial debts170/4 | - | - | - | €123,000 | €42,971 | €42,971 | €42,971 | = |
| Amounts payable within one year42/48 | €24,532 | €42,649 | €45,958 | €37,966 | €40,185 | €36,899 | €37,940 | ▲ 2.8% |
| Financial debts43 | - | - | - | €5,035 | - | - | - | - |
| Credit institutions430/8 | - | - | - | €5,035 | - | - | - | - |
| Trade debts44 | €11,901 | €10,271 | €13,668 | €1,172 | €4,117 | €727 | - | - |
| Suppliers440/4 | - | - | - | €1,172 | €4,117 | €727 | - | - |
| Other amounts payable47/48 | - | - | - | €31,759 | €36,068 | €36,172 | €37,940 | ▲ 4.9% |
| Accrued charges and deferred income492/3 | - | - | - | €42,000 | - | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,677 | €30,205 | €40,941 | -€4,749 | -€6,614 | -€72,779 | €6,454 | - |
| + Depreciation and write-downs630 | €745 | €912 | €1,423 | €400 | - | - | - | - |
| Operating cash flow (approximation) | €11,422 | €31,117 | €42,364 | -€4,349 | -€6,614 | -€72,779 | €6,454 | - |
| Investment in fixed assets (approximation) | - | -€1,200 | €0 | -€13,971 | €0 | €0 | €0 | - |
| Change in cash | - | -€1,935 | €452 | -€1,521 | €145 | €18,705 | -€18,000 | - |
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 22 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-08-2025 | micro format | 02-04-2026 | 2026-00071051 |
| 31-08-2024 | micro format | 02-04-2025 | 2025-00061346 |
| 31-08-2023 | micro format | 26-03-2024 | 2024-00053500 |
| 31-08-2022 | micro format | 30-03-2023 | 2023-00051725 |
| 31-08-2021 | micro format | 20-01-2022 | 2022-01200407 |
| 31-08-2020 | micro format | 12-02-2021 | 2021-05200471 |
| 31-08-2019 | micro format | 31-03-2020 | 2020-07900198 |
| 31-08-2018 | micro format | 22-03-2019 | 2019-07500377 |
| 31-08-2017 | abbreviated format | 31-03-2018 | 2018-08600317 |
| 31-08-2016 | abbreviated format | 13-02-2017 | 2017-04400032 |
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Of the 82,511 active companies whose main activity is business and other management consultancy (NACE 70200), figures are known for 54,647. 42,261 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.