VERTICAL
ActiveSummary
VERTICAL has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €752,883 and a net result of €73,296. Equity is shrinking by ~20.9% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability47▼-12
Solvency63▲+2
Growth58=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45,000 at 30 days acceptable
Liquidity short (current ratio 0.83 against 0.76 in 2024; short-term debt: 53.4% and cash: 21.5% of total assets), and 62.3% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
37.7%
Return on assets
3.7%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €752,883
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
29 d late
2023
30 d late
2022
31 d late
2021
78 d late
2020
100 d late
2019
106 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 58 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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. Usually files around 31 August (4 of the last 5 filed years within 30 days of that day).
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, micro schema
Equity
€752,883▲ 10.8%
2024 · €679,588
Total assets
€2.0m▲ 4.4%
2024 · €1.9m
Net result
€73,296▼ 55.7%
2024 · €165,477
Working capital
-€178,999▲ 30.8%
2024 · -€258,777
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€7,049▲ 99.5%-€3,193▲ 54.7%-€4,189▼ 31.2%-€2,027▲ 51.6%-€4,420▼ 118%
Net result-€185,996▲ 84.0%€298,577€94,835▼ 68.2%€165,477▲ 74.5%€73,296▼ 55.7%
Equity€1.8m▼ 9.4%€2.1m▲ 16.6%€514,111▼ 75.5%€679,588▲ 32.2%€752,883▲ 10.8%
Total assets€3.4m▼ 20.7%€3.7m▲ 10.4%€2.1m▼ 42.7%€1.9m▼ 9.9%€2.0m▲ 4.4%
Debt€1.6m▼ 30.7%€1.6m▲ 3.3%€1.6m▲ 0.1%€1.2m▼ 23.3%€1.2m▲ 0.8%
Working capital€1.9m▲ 17.6%€1.5m▼ 23.8%-€147,873-€258,777▼ 75.0%-€178,999▲ 30.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €4,420 in 2025 against €2,027 in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.0m
Fixed assets
€1.1m =
Current assets
€887,423 ▲ 10.4%
Equity and liabilities €2.0m
Equity
€752,883 ▲ 10.8%
Debt
€1.2m ▲ 0.8%
Debt's share of the balance-sheet total falls from 64.5% to 62.3%. Equity and debt are higher.
Key figures and ratios
Current ratio
0.83▲
2024 · 0.76
Debt to equity
1.65▼
2024 · 1.81
ROE
9.7%▼
2024 · 24.3%
ROA
3.7%▼
2024 · 8.7%
Debt ≤ 1 year
€1.1m▲
2024 · €1.1m
Debt > 1 year
€170,317▲
2024 · €145,123
Income taxes
€3,490
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €1,374 | - | - | - | - | - |
| Gross operating margin9900 | -€5,675 | -€3,193 | -€4,189 | -€2,027 | -€4,420 | ▼ 118% |
| Operating profit (loss)9901 | -€7,049 | -€3,193 | -€4,189 | -€2,027 | -€4,420 | ▼ 118% |
| Financial income75/76B | €149,503 | €353,878 | €155,426 | €192,851 | €87,842 | ▼ 54.5% |
| Recurring financial income75 | €149,503 | €353,878 | €155,426 | €192,851 | €87,842 | ▼ 54.5% |
| Financial charges65/66B | €329,264 | €22,250 | €56,402 | €25,347 | €6,636 | ▼ 73.8% |
| Recurring financial charges65 | €329,264 | €22,250 | €56,402 | €25,347 | €6,636 | ▼ 73.8% |
| Profit (loss) for the period before taxes9903 | -€186,810 | €328,434 | €94,835 | €165,477 | €76,786 | ▼ 53.6% |
| Income taxes67/77 | -€814 | €29,858 | - | - | €3,490 | - |
| Profit (loss) for the period9904 | -€185,996 | €298,577 | €94,835 | €165,477 | €73,296 | ▼ 55.7% |
| Profit (loss) for the period to be appropriated9905 | -€185,996 | €298,577 | €94,835 | €165,477 | €73,296 | ▼ 55.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.4m | €3.7m | €2.1m | €1.9m | €2.0m | ▲ 4.4% |
| Fixed assets21/28 | €1.0m | €1.8m | €1.2m | €1.1m | €1.1m | = |
| Financial fixed assets28 | €1.0m | €1.8m | €1.2m | €1.1m | €1.1m | = |
| Current assets29/58 | €2.3m | €1.9m | €913,244 | €803,791 | €887,423 | ▲ 10.4% |
| Amounts receivable within one year40/41 | €893,306 | €914,180 | €604,007 | €404,567 | €159,974 | ▼ 60.5% |
| Trade receivables40 | €67,854 | €673,062 | €566,470 | €367,030 | €122,437 | ▼ 66.6% |
| Other amounts receivable41 | €825,452 | €241,117 | €37,537 | €37,537 | €37,537 | = |
| Current investments50/53 | €299,012 | €299,012 | €299,012 | €299,012 | €299,012 | = |
| Cash at bank and in hand54/58 | €1.1m | €679,602 | €10,226 | €100,213 | €428,437 | ▲ 328% |
| Deferred charges and accrued income490/1 | €17,291 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.4m | €3.7m | €2.1m | €1.9m | €2.0m | ▲ 4.4% |
| Equity10/15 | €1.8m | €2.1m | €514,111 | €679,588 | €752,883 | ▲ 10.8% |
| Contributions10/11 | €1.8m | €1.8m | €100,000 | €100,000 | €100,000 | = |
| Reserves13 | €101,000 | €399,577 | €414,111 | €579,588 | €652,883 | ▲ 12.6% |
| Non-distributable reserves130/1 | €101,000 | €101,000 | - | - | - | - |
| Reserves not available under the articles1311 | €101,000 | €101,000 | - | - | - | - |
| Distributable reserves133 | - | €298,577 | €414,111 | €579,588 | €652,883 | ▲ 12.6% |
| Profit (loss) carried forward14 | -€80,301 | -€80,301 | - | - | - | - |
| Amounts payable17/49 | €1.6m | €1.6m | €1.6m | €1.2m | €1.2m | ▲ 0.8% |
| Amounts payable after more than one year17 | €1.1m | €1.2m | €495,747 | €145,123 | €170,317 | ▲ 17.4% |
| Financial debts170/4 | €1.1m | €1.2m | €495,747 | €145,123 | €170,317 | ▲ 17.4% |
| Amounts payable within one year42/48 | €388,184 | €419,781 | €1.1m | €1.1m | €1.1m | ▲ 0.4% |
| Trade debts44 | €19,994 | €21,734 | €20,569 | €22,021 | €22,384 | ▲ 1.6% |
| Suppliers440/4 | €19,994 | €21,734 | €20,569 | €22,021 | €22,384 | ▲ 1.6% |
| Taxes, remuneration and social security45 | - | €29,858 | - | - | €3,490 | - |
| Taxes450/3 | - | €29,858 | - | - | €3,490 | - |
| Other amounts payable47/48 | €368,190 | €368,190 | €1.0m | €1.0m | €1.0m | = |
| Accrued charges and deferred income492/3 | €24,735 | €21,925 | €50,952 | €25,194 | €6,483 | ▼ 74.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€185,996 | €298,577 | €94,835 | €165,477 | €73,296 | ▼ 55.7% |
| Operating cash flow (approximation) | -€185,996 | €298,577 | €94,835 | €165,477 | €73,296 | ▼ 55.7% |
| Investment in fixed assets (approximation) | - | -€777,000 | €600,000 | €100,000 | €0 | ▼ 100% |
| Change in cash | - | -€430,822 | -€669,377 | €89,987 | €328,224 | ▲ 265% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Back to profitnet €298,577
Net result €298,577 after 2 loss-making years.
31-12
Financial
Equity above €2mEq €2.1m ▲16.6%
Equity rises from €1.8m to €2.1m.
17-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 78 days late
2021
31-12
Financial
Liquidity doublescurrent ratio 5.98
Current ratio from 2.49 to 5.98; short-term debt falls from €1.1m to €388,184.
08-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 100 days late
2020
31-12
Financial
Weakest financial yearnet -€1.2m
Net result drops to -€1.2m, the lowest in the series; recovery starts the following year.
14-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 106 days late
2019
30-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 61 days late
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 59 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Enghien · 1 establishment unit since 2007
Ground area
9,629 m²
Building footprint
575 m²
Volume, LiDAR
4,247 m³
2 parcels, Flanders, Wallonia · tallest building 11.9 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Vertical
since 20072.159.021.050
2 parcels
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 55025D0224/00D000 | Wallonia | 9,018 m² | 1 · 328 m² | 11.9 m · 3 fl. |
| 23032L0328/00D000 | Flanders | 611 m² | 1 · 247 m² | 7.5 m · 2 fl. |
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.
Recognitions · licences · registrations
Legal Entity Identifier
25490056XDNXTXO82F84
Identification & contact
Identification
Legal formPrivate limited company
Founded25-01-2007
Fiscal year end31-12
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.