VERTIGO
ActiveSummary
VERTIGO has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €294k and a net result of €-11k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 73% of 1526 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability16▲+9
Solvency84▲+43
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €16k at 30 days acceptable
Liquidity ample (current ratio 2.44 against 0.04 in 2024; short-term debt: 41% and cash: 3% of total assets), and 41% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 77
Relative position
BE, all sectors
reference
Rental and leasing activities (NACE 77)
about 44% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-11k
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
8 d early
2023
on the day
2022
24 d late
2021
30 d late
2020
25 d late
2019
88 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€294k▼ 3.7%
2024 · €305k
2018: €-328klowest in 8 years
2019: €36k▲ +111% vs 2018
2020: €1k▼ -96.9% vs 2019
2021: €652k▲ +58146% vs 2020highest in 8 years
2022: €562k▼ -13.8% vs 2021
2023: €481k▼ -14.5% vs 2022
2024: €305k▼ -36.4% vs 2023
2025: €294k▼ -3.7% vs 2024
2018 → 2025
Total assets
€499k▼ 73.1%
2024 · €1.85M
2018: €101k
2019: €83k▼ -17.0% vs 2018
2020: €69k▼ -17.3% vs 2019lowest in 8 years
2021: €1.29M▲ +1766% vs 2020
2022: €1.91M▲ +48.3% vs 2021highest in 8 years
2023: €1.88M▼ -1.4% vs 2022
2024: €1.85M▼ -1.5% vs 2023
2025: €499k▼ -73.1% vs 2024
2018 → 2025
Net result
€-11k▲ 93.6%
2024 · €-175k
2018: €-18k
2019: €-36k▼ -105% vs 2018
2020: €-34k▲ +4.5% vs 2019
2021: €651k▲ +1987% vs 2020highest in 8 years
2022: €-90k▼ -114% vs 2021
2023: €-81k▲ +9.3% vs 2022
2024: €-175k▼ -115% vs 2023lowest in 8 years
2025: €-11k▲ +93.6% vs 2024
2018 → 2025
Working capital
€294k
2024 · €-1.44M
2018: €-374k
2019: €-2k▲ +99.4% vs 2018
2020: €-46k▼ -1947% vs 2019
2021: €695k▲ +1597% vs 2020highest in 8 years
2022: €-1.25M▼ -279% vs 2021
2023: €-1.29M▼ -3.4% vs 2022
2024: €-1.44M▼ -12.0% vs 2023lowest in 8 years
2025: €294k▲ +120% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€652k-€562k▼ 13.8%€481k▼ 14.5%€305k▼ 36.4%€294k▼ 3.7%
2021: €652khighest in 5 years
2022: €562k▼ -13.8% vs 2021
2023: €481k▼ -14.5% vs 2022
2024: €305k▼ -36.4% vs 2023
2025: €294k▼ -3.7% vs 2024lowest in 5 years
Operating result€695k-€-91k€-83k▲ 8.9%€-177k▼ 113%€-66k▲ 63.0%
2021: €695khighest in 5 years
2022: €-91k▼ -113% vs 2021
2023: €-83k▲ +8.9% vs 2022
2024: €-177k▼ -113% vs 2023lowest in 5 years
2025: €-66k▲ +63.0% vs 2024
Net result€651k-€-90k€-81k▲ 9.3%€-175k▼ 115%€-11k▲ 93.6%
2021: €651khighest in 5 years
2022: €-90k▼ -114% vs 2021
2023: €-81k▲ +9.3% vs 2022
2024: €-175k▼ -115% vs 2023lowest in 5 years
2025: €-11k▲ +93.6% vs 2024
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 €66k in 2025 against €177k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €499k
Equity
€294k ▼ 3.7%
Provisions
€0 ▼ 100%
Debt
€205k ▼ 86.4%
Debt's share of the balance-sheet total falls from 81.5% to 41.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-66k▲
2024 · €-75k
Cash flow
€-11k▲
2024 · €-73k
Current ratio
2.44▲
2024 · 0.04
Debt to equity
0.70▼
2024 · 4.95
ROE
-3.8%▲
2024 · -57.3%
ROA
-2.3%▲
2024 · -9.4%
Interest coverage
-137.49▲
2024 · -161.96
Debt ≤ 1 year
€205k▼
2024 · €1.51M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 41 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.85M€499k▼
Fixed assets21/28€1.79M€0▼
Tangible fixed assets22/27€1.79M€0▼
Plant, machinery and equipment23€1.79M€0▼
Current assets29/58€67k€499k▲
Amounts receivable within one year40/41€43k€484k▲
Trade receivables40€30k€480k▲
Other amounts receivable41€13k€4k▼
Cash at bank and in hand54/58€18k€15k▼
Deferred charges and accrued income490/1€6k€83▼
Equity and liabilities
Total equity and liabilities10/49€1.85M€499k▼
Equity10/15€305k€294k▼
Contributions10/11€524k€524k=
Reserves13€566k€0▼
Tax-exempt reserves132€566k€0▼
Profit (loss) carried forward14€-785k€-230k▲
Provisions and deferred taxes16€37k€0▼
Deferred taxes168€37k€0▼
Amounts payable17/49€1.51M€205k▼
Amounts payable within one year42/48€1.51M€205k▼
Trade debts44€31k€4k▼
Suppliers440/4€31k€4k▼
Taxes, remuneration and social security45€2k€840▼
Taxes450/3€2k€840▼
Other amounts payable47/48€1.48M€200k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€102k€0▼
Other operating charges640/8€2k€1k▼
Gross operating margin9900€-74k€-64k▲
Operating profit (loss)9901€-177k€-66k▲
Financial income75/76B€250€18k▲
Recurring financial income75€250€0▼
Non-recurring financial income76B-€18k
Financial charges65/66B€464€476▲
Recurring financial charges65€464€476▲
Profit (loss) for the period before taxes9903€-177k€-48k▲
Transfer from deferred taxes780€2k€37k▲
Profit (loss) for the period9904€-175k€-11k▲
Transfer from tax-exempt reserves789€33k€566k▲
Profit (loss) for the period to be appropriated9905€-142k€555k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-785k€-230k▲
Profit (loss) brought forward from the previous period14P€-642k€-785k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €705k | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €82k | €99k | €102k | €0 | ▼ 100% |
| Other operating charges640/8 | €449 | €450 | €2k | €2k | €1k | ▼ 33.6% |
| Gross operating margin9900 | €695k | €-9k | €17k | €-74k | €-64k | ▲ 12.4% |
| Operating profit (loss)9901 | €695k | €-91k | €-83k | €-177k | €-66k | ▲ 63.0% |
| Financial income75/76B | - | €0 | - | €250 | €18k | ▲ 6,892% |
| Recurring financial income75 | - | €0 | - | €250 | €0 | ▼ 100% |
| Non-recurring financial income76B | - | €0 | - | - | €18k | - |
| Financial charges65/66B | €432 | €418 | €404 | €464 | €476 | ▲ 2.6% |
| Recurring financial charges65 | €432 | €418 | €404 | €464 | €476 | ▲ 2.6% |
| Profit (loss) for the period before taxes9903 | €694k | €-92k | €-84k | €-177k | €-48k | ▲ 72.7% |
| Transfer from deferred taxes780 | - | €2k | €2k | €2k | €37k | ▲ 1,611% |
| Transfer to deferred taxes680 | €44k | €0 | - | - | - | - |
| Profit (loss) for the period9904 | €651k | €-90k | €-81k | €-175k | €-11k | ▲ 93.6% |
| Transfer from tax-exempt reserves789 | - | €29k | €33k | €33k | €566k | ▲ 1,611% |
| Transfer to tax-exempt reserves689 | €662k | €0 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €-11k | €-60k | €-48k | €-142k | €555k | ▲ 491% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.29M | €1.91M | €1.88M | €1.85M | €499k | ▼ 73.1% |
| Fixed assets21/28 | - | €1.85M | €1.81M | €1.79M | €0 | ▼ 100% |
| Tangible fixed assets22/27 | - | €1.85M | €1.81M | €1.79M | €0 | ▼ 100% |
| Plant, machinery and equipment23 | - | €1.85M | €1.81M | €1.79M | €0 | ▼ 100% |
| Current assets29/58 | €1.29M | €58k | €72k | €67k | €499k | ▲ 649% |
| Amounts receivable within one year40/41 | €12k | €37k | €11k | €43k | €484k | ▲ 1,029% |
| Trade receivables40 | €12k | €28k | €0 | €30k | €480k | ▲ 1,517% |
| Other amounts receivable41 | €159 | €9k | €11k | €13k | €4k | ▼ 66.9% |
| Cash at bank and in hand54/58 | €1.28M | €20k | €60k | €18k | €15k | ▼ 18.4% |
| Deferred charges and accrued income490/1 | - | €2k | €2k | €6k | €83 | ▼ 98.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.29M | €1.91M | €1.88M | €1.85M | €499k | ▼ 73.1% |
| Equity10/15 | €652k | €562k | €481k | €305k | €294k | ▼ 3.7% |
| Contributions10/11 | €524k | €524k | €524k | €524k | €524k | = |
| Reserves13 | €662k | €632k | €599k | €566k | €0 | ▼ 100% |
| Tax-exempt reserves132 | €662k | €632k | €599k | €566k | €0 | ▼ 100% |
| Profit (loss) carried forward14 | €-534k | €-594k | €-642k | €-785k | €-230k | ▲ 70.7% |
| Provisions and deferred taxes16 | €44k | €42k | €39k | €37k | €0 | ▼ 100% |
| Deferred taxes168 | €44k | €42k | €39k | €37k | €0 | ▼ 100% |
| Amounts payable17/49 | €592k | €1.31M | €1.36M | €1.51M | €205k | ▼ 86.4% |
| Amounts payable within one year42/48 | €592k | €1.31M | €1.36M | €1.51M | €205k | ▼ 86.4% |
| Trade debts44 | €12k | €34k | €1k | €31k | €4k | ▼ 87.0% |
| Suppliers440/4 | €12k | €34k | €1k | €31k | €4k | ▼ 87.0% |
| Taxes, remuneration and social security45 | €2k | €2k | €840 | €2k | €840 | ▼ 50.0% |
| Taxes450/3 | €2k | €2k | €840 | €2k | €840 | ▼ 50.0% |
| Other amounts payable47/48 | €579k | €1.27M | €1.36M | €1.48M | €200k | ▼ 86.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €651k | €-90k | €-81k | €-175k | €-11k | ▲ 93.6% |
| + Depreciation and write-downs630 | - | €82k | €99k | €102k | €0 | ▼ 100% |
| Operating cash flow (approximation) | €651k | €-8k | €17k | €-73k | €-11k | ▲ 84.6% |
| Investment in fixed assets (approximation) | - | - | €-57k | €-79k | €1.79M | ▲ 2,362% |
| Change in cash | - | €-1.26M | €40k | €-42k | €-3k | ▲ 92.0% |
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
31-12
Financial
Liquidity times 55current ratio 2.44
Current ratio from 0.04 to 2.44; short-term debt falls from €1.51M to €205k.
23-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-175k
Net result drops to €-175k, the lowest in the series; recovery starts the following year.
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 24 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Back to profitnet €651k
Net result €651k after 3 loss-making years.
31-12
Financial
Liquidity times 7current ratio 2.17
Current ratio from 0.32 to 2.17.
31-12
Financial
Equity above €500kEq €652k ▲58,146%
Equity rises from €1k to €652k.
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
2020
27-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 88 days late
Show earlier events
2019
21-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 21 days late
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Kapellen · 1 establishment unit since 1998
Ground area
5,173 m²
Building footprint
502 m²
Volume, LiDAR
4,106 m³
Parcel 11023K0007/02P010, Flanders · tallest building 15.1 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Bosruiterlei 12, 2950 Kapellen
since 19982.089.577.067
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11023K0007/02P010 | Flanders | 5,173 m² | 1 · 502 m² | 15.1 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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BEVERRENT
BE 0439.341.308
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Of 881 companies in sector 77229 we hold annual accounts for 319. 235 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
Founded14-08-1998
Fiscal year end31-12
Activities, NACEBEL 2025
77229Renting and leasing of other personal and household goods
Scores and ratios are computed by Checked and are not a credit decision.