VERTIMA
ActiveSummary
VERTIMA has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-3k) and a net result of €-18k. Equity is shrinking by ~24.2% per year across the filed fiscal years. Its solvency ranks better than 10% of 7058 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-70
Solvency2▼-64
Growth35=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.4 against 1.19 in 2024; short-term debt: 122.7% and cash: 42.9% of total assets), and equity is negative.
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
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 2025Solvency, return and age of the figures
Solvency
-22.7%
Return on assets
-133.9%
Age of the figures
12 mo
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 · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-3k
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 26-03-2026, 35 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
35 d early
2024
50 d early
2023
64 d early
2022
47 d early
2021
54 d early
2020
50 d early
2019
55 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€45k▲ 2.1%
2018 · €45k
2018: €45k
2019: €45k▲ +2.1% vs 2018
2018 → 2019
EBIT margin
-1.2%▼ 5.0pp
2018 · 3.8%
2018: 3.8%
2019: -1.2%▼ -131% vs 2018
2018 → 2019
Net result
€-18k
2024 · €360
2018: €668
2019: €-3k▼ -500% vs 2018
2020: €6k▲ +342% vs 2019highest in 8 years
2021: €-13k▼ -305% vs 2020
2022: €-13k▲ +2.4% vs 2021
2023: €-14k▼ -10.4% vs 2022
2024: €360▲ +103% vs 2023
2025: €-18k▼ -5110% vs 2024lowest in 8 years
2018 → 2025
Working capital
€-10k
2024 · €4k
2018: €28k
2019: €28k▲ +1.4% vs 2018
2020: €34k▲ +21.9% vs 2019highest in 8 years
2021: €25k▼ -28.1% vs 2020
2022: €10k▼ -60.8% vs 2021
2023: €444▼ -95.4% vs 2022
2024: €4k▲ +811% vs 2023
2025: €-10k▼ -346% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€42k-€29k▼ 30.9%€15k▼ 49.5%€15k▲ 2.5%€-3k
2021: €42khighest in 5 years
2022: €29k▼ -30.9% vs 2021
2023: €15k▼ -49.5% vs 2022
2024: €15k▲ +2.5% vs 2023
2025: €-3k▼ -120% vs 2024lowest in 5 years
Operating result€-12k-€-13k▼ 7.7%€-14k▼ 10.5%€749€-18k
2021: €-12k
2022: €-13k▼ -7.7% vs 2021
2023: €-14k▼ -10.5% vs 2022
2024: €749▲ +105% vs 2023highest in 5 years
2025: €-18k▼ -2442% vs 2024lowest in 5 years
Net result€-13k-€-13k▲ 2.4%€-14k▼ 10.4%€360€-18k
2021: €-13k
2022: €-13k▲ +2.4% vs 2021
2023: €-14k▼ -10.4% vs 2022
2024: €360▲ +103% vs 2023highest in 5 years
2025: €-18k▼ -5110% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €18k after €749 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €13k
Fixed assets
€7k ▼ 37.0%
Current assets
€7k ▼ 74.0%
Key figures and ratios
EBITDA
€-14k▼
2024 · €5k
Cash flow
€-14k▼
2024 · €5k
Solvency
-22.7%▼
2024 · 41.3%
Current ratio
0.40▼
2024 · 1.19
Debt to equity
-5.40▼
2024 · 1.42
ROA
-133.9%▼
2024 · 1.0%
Interest coverage
-87.67▼
2024 · 32.92
Debt
€17k▼
2024 · €21k
Debt ≤ 1 year
€17k▼
2024 · €21k
Income taxes
€327▲
2024 · €247
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 · 44 lines
Balance sheet
Code20242025
Assets
Total assets20/58€36k€13k▼
Fixed assets21/28€11k€7k▼
Tangible fixed assets22/27€9k€5k▼
Plant, machinery and equipment23€4k€2k▼
Furniture and vehicles24€5k€3k▼
Financial fixed assets28€2k€2k=
Current assets29/58€25k€7k▼
Amounts receivable within one year40/41€7k€811▼
Trade receivables40€7k€651▼
Other amounts receivable41€344€160▼
Cash at bank and in hand54/58€17k€6k▼
Deferred charges and accrued income490/1€794-
Equity and liabilities
Total equity and liabilities10/49€36k€13k▼
Equity10/15€15k€-3k▼
Contributions10/11€6k€6k=
Reserves13€9k€9k=
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€9k€9k=
Profit (loss) carried forward14-€-18k
Amounts payable17/49€21k€17k▼
Amounts payable within one year42/48€21k€17k▼
Trade debts44€1k€187▼
Suppliers440/4€1k€187▼
Taxes, remuneration and social security45€717€1k▲
Taxes450/3€717€1k▲
Other amounts payable47/48€20k€15k▼
Income statement
Code20242025
Non-recurring operating income76A€350-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€4k▼
Other operating charges640/8€779€2k▲
Gross operating margin9900€6k€-12k▼
Operating profit (loss)9901€749€-18k▼
Financial income75/76B€10-
Recurring financial income75€10-
Financial charges65/66B€153€154▲
Recurring financial charges65€153€154▲
Profit (loss) for the period before taxes9903€606€-18k▼
Income taxes67/77€247€327▲
Profit (loss) for the period9904€360€-18k▼
Profit (loss) for the period to be appropriated9905€360€-18k▼
Appropriation of the result
Profit (loss) to be appropriated9906€360€-18k▼
Transfer from equity791/2€0-
Transfer to equity691/2€360-
To other reserves6921€360-
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 | - | €336 | €0 | €350 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7k | €8k | €5k | €4k | €4k | ▼ 5.3% |
| Other operating charges640/8 | - | €701 | €849 | €779 | €2k | ▲ 117% |
| Non-recurring operating charges66A | - | €0 | - | - | - | - |
| Gross operating margin9900 | €-4k | €-4k | €-8k | €6k | €-12k | ▼ 303% |
| Operating profit (loss)9901 | €-12k | €-13k | €-14k | €749 | €-18k | ▼ 2,442% |
| Financial income75/76B | - | - | €18 | €10 | - | - |
| Recurring financial income75 | - | - | €18 | €10 | - | - |
| Financial charges65/66B | - | €194 | €190 | €153 | €154 | ▲ 0.9% |
| Recurring financial charges65 | €1k | €194 | €190 | €153 | €154 | ▲ 0.9% |
| Profit (loss) for the period before taxes9903 | €-13k | €-13k | €-14k | €606 | €-18k | ▼ 3,019% |
| Income taxes67/77 | €250 | €251 | €310 | €247 | €327 | ▲ 32.6% |
| Profit (loss) for the period9904 | €-13k | €-13k | €-14k | €360 | €-18k | ▼ 5,110% |
| Profit (loss) for the period to be appropriated9905 | €-13k | €-13k | €-14k | €360 | €-18k | ▼ 5,110% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €72k | €56k | €41k | €36k | €13k | ▼ 62.9% |
| Fixed assets21/28 | €17k | €19k | €14k | €11k | €7k | ▼ 37.0% |
| Tangible fixed assets22/27 | €15k | €18k | €13k | €9k | €5k | ▼ 43.6% |
| Plant, machinery and equipment23 | - | €9k | €6k | €4k | €2k | ▼ 49.5% |
| Furniture and vehicles24 | - | €9k | €6k | €5k | €3k | ▼ 38.8% |
| Financial fixed assets28 | €2k | €2k | €2k | €2k | €2k | = |
| Current assets29/58 | €55k | €37k | €27k | €25k | €7k | ▼ 74.0% |
| Amounts receivable within one year40/41 | €11k | €14k | €2k | €7k | €811 | ▼ 89.1% |
| Trade receivables40 | - | €14k | €2k | €7k | €651 | ▼ 90.8% |
| Other amounts receivable41 | - | - | €87 | €344 | €160 | ▼ 53.6% |
| Cash at bank and in hand54/58 | €43k | €23k | €24k | €17k | €6k | ▼ 66.2% |
| Deferred charges and accrued income490/1 | - | €711 | €759 | €794 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €72k | €56k | €41k | €36k | €13k | ▼ 62.9% |
| Equity10/15 | €42k | €29k | €15k | €15k | €-3k | ▼ 120% |
| Contributions10/11 | - | €6k | €6k | €6k | €6k | = |
| Reserves13 | €36k | €23k | €8k | €9k | €9k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | €0 | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | €0 | - | - |
| Distributable reserves133 | - | €21k | €7k | €9k | €9k | = |
| Profit (loss) carried forward14 | €0 | - | - | - | €-18k | - |
| Amounts payable17/49 | €31k | €27k | €27k | €21k | €17k | ▼ 22.4% |
| Amounts payable within one year42/48 | €31k | €27k | €27k | €21k | €17k | ▼ 22.4% |
| Trade debts44 | €190 | €354 | €422 | €1k | €187 | ▼ 81.4% |
| Suppliers440/4 | - | €354 | €422 | €1k | €187 | ▼ 81.4% |
| Taxes, remuneration and social security45 | - | €1k | €512 | €717 | €1k | ▲ 100% |
| Taxes450/3 | - | €1k | €512 | €717 | €1k | ▲ 100% |
| Other amounts payable47/48 | - | €26k | €26k | €20k | €15k | ▼ 23.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-13k | €-13k | €-14k | €360 | €-18k | ▼ 5,110% |
| + Depreciation and write-downs630 | €7k | €8k | €5k | €4k | €4k | ▼ 5.3% |
| Operating cash flow (approximation) | €-6k | €-5k | €-9k | €5k | €-14k | ▼ 402% |
| Investment in fixed assets (approximation) | - | €-10k | €0 | €-1k | €0 | ▲ 100% |
| Change in cash | - | €-20k | €1k | €-7k | €-11k | ▼ 62.9% |
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
26-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Weakest financial yearnet €-18k
Net result drops to €-18k, the lowest in the series.
11-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Back to profitnet €360
Net result €360 after 3 loss-making years.
26-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
14-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
07-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
11-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Back to profitnet €6k
Net result €6k after one loss-making year.
06-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
20-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
05-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
02-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Waregem · 1 establishment unit since 1997
Ground area
1,338 m²
Building footprint
156 m²
Volume, LiDAR
1,082 m³
Parcel 34452B0311/00K002, Flanders · tallest building 10.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
VERTIMA
since 19972.082.036.110
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34452B0311/00K002 | Flanders | 1,338 m² | 1 · 156 m² | 10.7 m · 2 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 9,862 companies in sector 73110 we hold annual accounts for 3,753. 2,389 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
Founded05-05-1997
Fiscal year end30-09
Activities, NACEBEL 2025
73110Advertising agencies
Contact
E-mail
christelle.verstraete@telenet.be
Phone
0475/264561
Scores and ratios are computed by Checked and are not a credit decision.