VERTICAL COMPUTE
ActiveSummary
The annual accounts of VERTICAL COMPUTE for financial year 2025 show a net loss of 53% of total assets. The 2025 annual accounts show equity of €14.5m and a net result of -€9.5m. Its solvency ranks better than 84% of 818 sector peers (NACE 74, financial year 2025). The company has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 16-10-2024 Normal situation
- Registered office
- 78 active companies are registered at this address 9 started in the 12 months before. Source: KBO register, as of 2 November 2026.
- Activity
- Other professional, scientific and technical activities NACE 74999and 1 other
- Joint committee
- 200 Aanvullend Paritair Comité voor de bedienden · annual accounts 2025
- Establishment units
- 2.365.538.208 1348 Ottignies-Louvain-la-Neuve, since 16-10-2024
- 2.371.075.027 3001 Leuven, since 15-12-2024
- Financial year end
- 31 December
- Peppol
- Reachable since 03-06-2025
Board and ownership
- SHOGI CAPITAL SASCEO
- BABYLON 42Daily manager · permanent representative Sébastien COUET
- Sylvain DUBOISDaily manager
- imec.xpand II15.01%· score 952025 annual accounts of imec.xpand II
- Holdings
- Shares in 1 company Vertical Compute (France) SAS
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.2%
- Gross margin
- -€937,109
- Loss
- €9.5m
- Equity
- €14.5m
- Total assets
- €18.1m
- Employees on 31-12-2025
- 4
- 2025 accounts filed 63 days after the deadline
Score breakdownraises riskCapped at 59: a net loss of at least half of total assets or of the equity at the start of the financial yearLoss of €9.5m (financial year 2025)Last filed accounts filed 63 days late; 1 of the last 3 accounts latelowers riskLiquidity: current ratio 5.59, cash €10.9mSector: Other professional, scientific and technical activities (NACE 74)Show the evidence
Checked score
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 74, micro). It does better than 88% of them on solvency, 92% on liquidity and 7% on profitability.
The bankruptcy probability was computed on 01-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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Signals
Searched, nothing found (1)
Financials
Financials · financial year 2025, abbreviated format
2025 annual accounts filed 63 days after the deadline Filed on 2 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00546609.
Annual accounts 2025 filed on 02-10-2026 at the NBB
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Staff
| Item | 31-12-2025 |
|---|---|
| Employees at the balance-sheet date | 4 |
| full-time | 4 |
| part-time | 0 |
| in full-time equivalents | 4 |
| Average over the year, in full-time equivalents | 3.5 |
| On a permanent contract | 4 |
| Joined | 4 |
| Left | 0 |
Source: social balance sheet in the 2025 annual accounts
Investments
| Item | 2025 |
|---|---|
| Tangible fixed assets | €460,516 |
| Intangible fixed assets | €13.0m |
| Financial fixed assets | €13,890 |
| Depreciation and write-downs of the year | €8.8m |
Source: notes to the 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €3.0m awarded · €1.2m paid| Line | 2025 |
|---|---|
| Remuneration, social security and pensions62 | €0.3m |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8.8m |
| Gross operating margin9900 | -€0.9m |
| Operating profit (loss)9901 | -€10.0m |
| Financial income75/76B | €0.1m |
| Recurring financial income75 | €0.1m |
| Financial charges65/66B | €0.01m |
| Recurring financial charges65 | €0.01m |
| Profit (loss) for the period before taxes9903 | -€9.9m |
| Income taxes67/77 | -€0.4m |
| Profit (loss) for the period9904 | -€9.5m |
| Profit (loss) for the period to be appropriated9905 | -€9.5m |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €18.1m | |
| Fixed assets21/28 | €4.7m | |
| Intangible fixed assets21 | €4.2m | |
| Tangible fixed assets22/27 | €0.5m | |
| Furniture and vehicles24 | €0.05m | |
| Assets under construction and advance payments27 | €0.4m | |
| Financial fixed assets28 | €0.01m | |
| Current assets29/58 | €13.4m | |
| Amounts receivable after more than one year29 | €0.4m | |
| Other amounts receivable291 | €0.4m | |
| Amounts receivable within one year40/41 | €2.1m | |
| Trade receivables40 | €0.1m | |
| Other amounts receivable41 | €2.0m | |
| Cash at bank and in hand54/58 | €10.9m | |
| Deferred charges and accrued income490/1 | €0.01m | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €18.1m | |
| Equity10/15 | €14.5m | |
| Contributions10/11 | €24.0m | |
| Profit (loss) carried forward14 | -€9.5m | |
| Amounts payable17/49 | €3.6m | |
| Amounts payable within one year42/48 | €2.4m | |
| Trade debts44 | €2.4m | |
| Suppliers440/4 | €2.4m | |
| Taxes, remuneration and social security45 | €0.04m | |
| Remuneration and social security454/9 | €0.04m | |
| Accrued charges and deferred income492/3 | €1.2m | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | -€9.5m |
| + Depreciation and write-downs630 | €8.8m |
| Operating cash flow (approximation) | -€0.7m |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 3,223 companies had the same profile as VERTICAL COMPUTE has now. Two years later, 3.4% had gone bankrupt and 87.8% were still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of VERTICAL COMPUTE itself is lower: 0.2% within 12 months. It rests on far more data about VERTICAL COMPUTE than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,223 companies, not a prediction for VERTICAL COMPUTE. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 02-10-2026 | 2026-00546609 |
Board & ownership
Directors
Board 12
Show all 12 directors
Day-to-day management 3
Permanent representatives 4
Owners and capital
Shareholders
1 ownerOwners 1
- Equity €76.8m Profit of €4.4m in 2025 (loss of €2.6m in 2024) Checked score 9515.01%
Capital transactions
- SHOGI CAPITAL SAS (BE 1015.001.565) founder
- COUET Sébastien Roger Alain founder
- 01-04-2026 Capital increase of €32,700,000 · 15,721,149 new shares · in cash
- 09-01-2025 Capital stated in the deed · €24,004,353.90 · 28,017,792 shares
- 18-10-2024 Incorporation · €3,000 · 6,090,000 shares
Mandate history
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| COUET Sébastien Roger Alain |
|
| SHOGI CAPITAL SAS |
|
| Eurazeo Global Investor |
|
| ROCHAT Philippe |
|
| Siparex XAnge Venture |
|
| XPAND Partners |
|
| SCALEU |
|
| Eurazeo Global Investor |
|
| SCALEU SAS |
|
| Siparex XAnge Venture |
|
| QUANTONATION II |
|
| QUANTONATION VENTURE SAS |
|
| BABYLON 42 |
|
| Sylvain DUBOIS |
|
| SHOGI CAPITAL SAS |
|
| ZENG William Joseph |
|
Articles of association
Board and representation
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Organe_d_Administration, accomplir_tous_les_actes_nécessaires_ou_utiles_à_la_réalisation_de_l_objet_à_l_exception_de_ceux_que_la_Loi_réserve…”“Les_Fondateurs_peuvent_désigner_l_Administrateur_Indépendant_comme_président…”“Par_chaque_Administrateur_agissant_individuellement_y_inclus_par_courrier_électronique, 5”“Signés_par_le_Président_et_les_Administrateurs_qui_en_font_la_convocation…”“Toutes les résolutions de l’Organe d’Administration seront adoptées à la majorité simple des voix exprimées (c'est-à-dire avec l'approbation…”“Les Matières Soumises à la Majorité Qualifiée Renforcée de l’Organe d’Administration ne peuvent être mises en œuvre par la Société (que ce…”“Dans le cas où une Matière Soumise à la Majorité Qualifiée de l’Organe d’Administration est soumise à l'approbation des actionnaires de la…”“Sans préjudice de l'article 10.1.6.1, chaque Administrateur dispose d'une (1) voix, à l'exception de l'Administrateur CEO et de…”“Toutefois, si l'Administrateur Quantonation se trouve en situation de conflit d’intérêts conformément aux dispositions applicables du Code…”“L’Organe d’Administration peut nommer des Administrateurs (directement ou indirectement par l'intermédiaire d'une société de gestion…”“Les termes et conditions (y compris la rémunération) pour l'exécution du mandat de Manager seront régis par un contrat d'emploi ou de…”
Capital, shares and profit
- Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
- “Mêmes_droits_sauf_ce_qui_est_prévu_aux_statuts_et_dans_la_Convention_d_Actionnaires…”“Actions Seed, Sans préjudice des exigences de majorité plus strictes prévues par les dispositions impératives, le consentement des…”
- Profit allocationThe articles set how profit is distributed. A BV may only pay out after a balance-sheet and liquidity test.
- “Le bénéfice annuel net recevra l’affectation que lui donnera l'Assemblée Générale, statuant sur proposition de l’Organe d’Administration…”
Articles of association, deed of 01-04-2026 (in French)
Network & group
Holdings and subsidiaries
1 holdingHoldings 1
- Vertical Compute (France) SASFRsubsidiarySourceown accounts 2025100%
Connections & network
1 connected companyThe connected companies are in the list below.
Timeline
Acts, filings and financial milestones
21-10
Gazette deed
Resignation: William ZENG (administrateur quantonation)Appointment: QUANTONATION VENTURE SAS (administrateur quantonation) · Permanent representative: Christophe Jurczak · Power of attorney8 points ▸
- General meeting, 02-10-2026
- Director resignation, William ZENG (administrateur quantonation)
- Director appointment, QUANTONATION VENTURE SAS (administrateur quantonation)
- Permanent representative, Christophe Jurczak
- Power of attorney, mentioned 2 times in the deed
- Power of attorney, Thomas Daenen
- Power of attorney, Tim Bafort
- Power of attorney, Shana Gailliez
01-04
Gazette deed
Changes of role: SHOGI CAPITAL SAS (administrateur ceo) and COUET Sébastien Roger Alain (administrateur actions ordinaires)Resignations: XPAND Partners, ROCHAT Philippe and 3 others · Permanent representatives: DUBOIS Sylvain, VANHOUTTE Tom and 3 others · Appointments: ZENG William Joseph, XPAND Partners and 4 others47 points ▸
- General meeting, 16-03-2026
- Other provision, “prise de connaissance des rapports” (deed in French)
- Kind of shares, “Actions Seed, creation” (deed in French)
- Kind of shares, “Actions Preseed” (deed in French)
- Kind of shares, “Actions IP Fondateur” (deed in French)
- Financial instrument, 913492, “exercise” (deed in French)
- Share issue, “Actions IP Fondateur”, 913492 (deed in French)
- Capital, €24,013,488.82
- Capital contribution, €9,134.92
- Amendment of the articles, 5
- Capital increase, €32,700,000
- Share issue, “Actions Seed”, 15721149 (deed in French)
- The act holds 35 more points.
02-02
Gazette deed
Appointments: Sylvain DUBOIS, BABYLON 42 and SCALEUPermanent representatives: Sébastien COUET and Christophe FREY7 points ▸
- Board meeting, 25-11-2025
- Director appointment, Sylvain DUBOIS (daily management delegate)
- Director appointment, BABYLON 42 (daily management delegate)
- Permanent representative, Sébastien COUET
- General meeting, 01-12-2025
- Director appointment, SCALEU (director)
- Permanent representative, Christophe FREY
09-01
Gazette deed
Appointments: SHOGI CAPITAL SAS, COUET Sébastien Roger Alain and 4 othersPermanent representatives: DUBOIS Sylvain, VANHOUTTE Tom and 2 others · Kind of shares · Financial instrument40 points ▸
- General meeting, 23-12-2024
- Other provision, “prise de connaissance des rapports, PREMIER RESOLUTION” (deed in French)
- Kind of shares, “création de trois classes d'actions, Actions Classe A1 et Actions Classe A2 conjointement Actions Classe A” (deed in French)
- Kind of shares, “Actions Ordinaires” (deed in French)
- Financial instrument, “Plan Global”, 2435000 (deed in French)
- Other provision, “annexe du rapport de l'organe d'administration (y compris ses annexes) au procès-verbal” (deed in French)
- Other provision, “renonciation au droit de préférence, CINQUIEME RESOLUTION” (deed in French)
- Power of attorney
- Capital contribution, mentioned 3 times in the deed
- Capital contribution, €3,999,999.86
- Share issue, “souscription et libération des nouvelles actions”, 3999999.8643 (deed in French)
- Approval, “constatation de la réalisation de l'apport supplémentaire, DIXIEME RESOLUTION” (deed in French)
- The act holds 28 more points.
18-10
Gazette deed
IncorporationStarting capital €3,000 · Appointments: SHOGI CAPITAL SAS (director) and COUET Sébastien Roger Alain (director) · Permanent representative: DUBOIS Sylvain · Founder9 points ▸
- Founder, SHOGI CAPITAL SAS (comparant)
- Founder, COUET Sébastien Roger Alain (comparant)
- Incorporation, “VERTICAL COMPUTE” (deed in French)
- Founding capital, €3,000
- Bank account, “compte spécial”, 19-09-2024 (deed in French)
- Director appointment, SHOGI CAPITAL SAS (director (not named in the articles))
- Director appointment, COUET Sébastien Roger Alain (director (not named in the articles))
- Permanent representative, DUBOIS Sylvain
- Declaration, “ni en Belgique ni à l étranger, interdiction de gérer” (deed in French)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
10 activities
- A) exclusivement en son propre nom et pour son propre compte: la construction, le développement et la gestion du patrimoine immobilier; toutes les opérations, oui ou non sous le système de la TVA, relatives aux biens immobiliers et aux droits immobiliers, tels que l’achat et la vente, la construction, la rénovation, l’aménagement et la décoration d’intérieur, la location ou la prise en location, l’échange, le lotissement et, en général, toutes les opérations qui sont liées directement ou indirectement à la gestion ou à l’exploitation de biens immobiliers ou de droits réels immobiliers
- B) exclusivement en son propre nom et pour son propre compte : la construction, le développement et la gestion d’un patrimoine mobilier ; toutes les opérations relatives à des biens et des droits mobiliers, de quelque nature que ce soit, tels que la vente et l’achat, la location et la prise en location, l’échange, en particulier la gestion et la valorisation de tous biens négociables, actions, obligations, fonds d’État
- C) exclusivement en son propre nom et pour son propre compte : faire des emprunts et consentir des prêts, crédits, financements et la négociation de contrats de leasing, dans le cadre des buts décrits ci-dessus
- Collaborer, prendre part, ou prendre un intérêt dans d'autres entreprises, directement ou indirectement, de quelque manière que ce soit
- Donner caution tant pour ses propres engagements que pour les engagements de tiers, entre autres en donnant ses biens en hypothèque ou en gage, y compris son propre fonds de commerce
- Se porter garant ou fournir des sûretés réelles pour des sociétés ou des personnes privées, au sens le plus large
- Pleine capacité juridique pour accomplir tous les actes et opérations ayant un rapport direct ou indirect avec son objet ou qui seraient de nature à faciliter directement ou indirectement, entièrement ou partiellement, la réalisation de cet objet
- S'intéresser par voie d'association, d'apport, de fusion, d'intervention financière ou de quelque manière que ce soit dans toutes sociétés, associations ou entreprises dont l'objet est identique, analogue ou connexe au sien ou susceptible de favoriser le développement de son entreprise ou de constituer pour elle une source de débouchés
- Exercer les fonctions d’administrateur ou liquidateur dans d’autres sociétés
- Subordonner son action à la réalisation des conditions préalables d'accès à la profession si la prestation de certains actes est soumise à de telles conditions
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 24040B0218/00T002 | Flanders | 1,330 m² | 1 · 1,223 m² | 12.2 m |
| 25386B0254/00X000 | Wallonia | 1,248 m² | 1 · 2,510 m² | 24.1 m · 5 |