VESALIUS CONSTRUCT

Active

Public limited companyfounded 201412 yrs activeAnspachlaan 1, 1000 Brussel, BelgiumKBO/BCE: BE 0543.851.185

VESALIUS CONSTRUCT has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €296k and a net result of €3k. Equity is shrinking by ~15.6% per year across the filed fiscal years. Its solvency ranks better than 93% of 4533 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).

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Checked score

Score 2025

72 / 100

Healthy

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability40▲+23

Solvency100=

Growth38=

Track record100

Bankruptcy probability, 12 months

0.4% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €21k at 30 days acceptable

Liquidity ample (current ratio 30.31 against 37.46 in 2024; short-term debt: 3.3% and cash: 2.9% of total assets), and 3.3% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Eight signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 68

Relative position

BE, all sectors

reference

Sector 68

lower

← fewer bankruptcies more bankruptcies →

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

96.7%

Return on assets

1.1%

Age of the figures

9 mo

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

A punctual record breaks

This company filed 5 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-08-2026, 11 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.

NBB · 10 filings

Deviation from the deadline

2025

11 d late

2024

35 d early

2023

41 d early

2022

41 d early

2021

12 d early

2020

1 d early

2019

66 d late

← before the deadline after the deadline →

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 months

Position in the running window

22-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, full schema

Turnover

€36k▼ 91.3%

2018 · €415k

2018: €415k

2018 → 2019

EBIT margin

-200.2%▼ 126.7pp

2018 · -73.5%

2018: -73.5%

2018 → 2019

Net result

€3k

2024 · €-25k

2018: €-305k 2019: €-63k 2020: €-8k 2021: €93k 2022: €-21k 2023: €12k 2024: €-25k

2018 → 2025

Working capital

€296k▲ 1.1%

2024 · €292k

2018: €846k 2019: €783k 2020: €775k 2021: €868k 2022: €304k 2023: €317k 2024: €292k

2018 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€868k-€304k▼ 64.9%€317k▲ 4.1%€292k▼ 7.8%€296k▲ 1.1%

Operating result€-8k-€-33k▼ 291%€1k€-35k€-4k▲ 87.9%

Net result€93k-€-21k€12k€-25k€3k

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €4k in 2025 against €35k in 2024; the loss shrinks.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Equity and liabilities €306k

96.7%

Equity €296k▲ 1.1%

Debt €10k▲ 25.8%

The debt ratio rises from 2.7% to 3.3%. Equity and debt are higher.

Key figures and ratios

2025 value · change against 2024

Solvency

96.7%▼

2024 · 97.3%

Current ratio

30.31▼

2024 · 37.46

Quick ratio

22.00▼

2024 · 27.14

Debt / equity

0.03▲

2024 · 0.03

ROE

1.1%▲

2024 · -8.4%

ROA

1.1%▲

2024 · -8.2%

Debt

€10k▲

2024 · €8k

Debt ≤ 1 year

€10k▲

2024 · €8k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2025 against 2024

Balance sheet Code20242025

Assets

Total assets20/58€300k€306k▲

Current assets29/58€300k€306k▲

Stocks and contracts in progress3€83k€84k▲

Stocks30/36€83k€84k▲

Amounts receivable within one year40/41€213k€213k▼

Other amounts receivable41€213k€213k▼

Cash at bank and in hand54/58€4k€9k▲

Equity and liabilities

Total equity and liabilities10/49€300k€306k▲

Equity10/15€292k€296k▲

Contributions10/11€250k€250k=

Capital10€250k€250k=

Issued capital100€250k€250k=

Reserves13€25k€25k=

Non-distributable reserves130/1€25k€25k=

Legal reserve130€25k€25k=

Profit (loss) carried forward14€17k€21k▲

Amounts payable17/49€8k€10k▲

Amounts payable within one year42/48€8k€10k▲

Trade debts44€8k€10k▲

Suppliers440/4€8k€10k▲

Income statement Code20242025

Non-recurring operating income76A€0€7k▲

Other operating charges640/8€972€424▼

Gross operating margin9900€-34k€-4k▲

Operating profit (loss)9901€-35k€-4k▲

Financial income75/76B€11k€8k▼

Recurring financial income75€11k€8k▼

Financial charges65/66B€417€476▲

Recurring financial charges65€417€476▲

Profit (loss) for the period before taxes9903€-25k€3k▲

Profit (loss) for the period9904€-25k€3k▲

Profit (loss) for the period to be appropriated9905€-25k€3k▲

Appropriation of the result

Profit (loss) to be appropriated9906€17k€21k▲

Profit (loss) brought forward from the previous period14P€42k€17k▼

Social balance

Average headcount (FTE)90870.00.0=

The notes to these accounts (1 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Download as CSV

Timeline · acts, filings and financial milestones

All 16Financial 6Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

11-08

NBB filing Annual accounts filed

fiscal year 2025 · full schema · 11 days late

2025

31-12

Financial Back to profitnet €3k

Net result €3k after one loss-making year.

26-06

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

20-06

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2023

31-12

Financial Back to profitnet €12k

Net result €12k after one loss-making year.

31-12

Financial Liquidity times 22current ratio 34.04

Current ratio from 1.55 to 34.04; short-term debt falls from €550k to €10k.

20-06

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2022

19-07

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

2021

31-12

Financial Back to profitnet €93k

Net result €93k after 3 loss-making years.

31-12

Financial Liquidity times 11current ratio 97.68

Current ratio from 9.19 to 97.68; short-term debt falls from €95k to €9k.

30-07

NBB filing Annual accounts filed

fiscal year 2020 · full schema

2020

05-10

NBB filing Annual accounts filed

fiscal year 2019 · full schema · 66 days late

2019

31-12

Financial Liquidity doublescurrent ratio 7.02

Current ratio from 2.98 to 7.02; short-term debt falls from €426k to €130k.

15-07

NBB filing Annual accounts filed

fiscal year 2018 · full schema

2018

14-09

NBB filing Annual accounts filed

fiscal year 2017 · full schema · 45 days late

2017

30-06

NBB filing Annual accounts filed

fiscal year 2016 · full schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

13 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, Brussel · 1 establishment unit since 2014

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Anspachlaan 11000 Brussel

Ground area

6,482 m²

Building footprint

4,827 m²

Volume, LiDAR

188,668 m³