VESITE

Active

Public limited companyfounded 20187 yrs activeSiemenslaan 18, 3650 Dilsen-Stokkem, BelgiumKBO/BCE: BE 0716.908.390

Summary

VESITE has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.5m and a net result of -€41,317. Equity is growing by ~3.7% per year across the filed fiscal years. Its solvency ranks better than 67% of 9294 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).

Risk analysis Watch Report Compare

VESITEActiveChecked score 68/100

Risk analysis Report Compare

Checked score

Score 2025

68 / 100

Healthy

Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability58▲+8

Solvency77▼-2

Growth78=

Track record100

Bankruptcy probability, 12 months

0.5% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €230,000 at 30 days acceptable

Liquidity short (current ratio 0.41 against 0.08 in 2024; short-term debt: 16.2% and cash: 0% of total assets), and 47.7% of the assets are financed with debt.

Credit check for your own amount and term

Open the credit simulator : see how the verdict changes with amount, term and advance.

Signals

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

−lowers risk+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

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

Real estate activities (NACE 68)

about 43% fewer bankruptcies

← fewer bankruptcies more bankruptcies →

Lower-risk legal form

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

KBO · legal form

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

52.3%

Return on assets

-0.6%

Age of the figures

9 mo

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 20-04-2026, 102 days ahead of the deadline.

NBB · 7 filings

Deviation from the deadline

2025

102 d early

2024

4 d late

2023

48 d late

2022

32 d late

2021

31 d late

2020

31 d late

2019

92 d late

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 19 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.

Checked, nothing found (2)

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

27-09-2026 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

History

VESITE was incorporated on 27 December 2018.¹ The board currently has 2 members; loannis Kapenekakis has served longest, since 2024.² Total assets rose from EUR 740,932 in 2019 to EUR 6.6 million in 2025.³

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Investigating this company? Keep it with today's facts in a case file.

Financials · fiscal year 2025, abbreviated schema

In the rankings #3 company by equity in Dilsen-Stokkem, Real estate sector #5 company by total assets in Dilsen-Stokkem, Real estate sector

Equity

€3.5m▼ 1.2%

2024 · €3.5m

Total assets

€6.6m▲ 1.7%

2024 · €6.5m

Net result

-€41,317

2024 · €24,416

Working capital

-€632,091▲ 30.8%

2024 · -€912,888

Trend over the years

Chart Table

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€32,077▼ 80.4%-€83,237€91,161€89,176▼ 2.2%€48,050▼ 46.1%

Net result€21,200▼ 83.4%-€150,814€27,684€24,416▼ 11.8%-€41,317

Equity€3.6m▲ 2,661%€3.5m▼ 4.2%€3.5m▲ 0.8%€3.5m▲ 0.7%€3.5m▼ 1.2%

Total assets€5.1m▲ 246%€7.1m▲ 37.7%€6.9m▼ 2.4%€6.5m▼ 5.8%€6.6m▲ 1.7%

Debt€1.5m▲ 13.4%€3.6m▲ 136%€3.4m▼ 5.4%€3.0m▼ 12.4%€3.2m▲ 5.1%

Working capital-€555,808▼ 2.5%-€1.3m▼ 140%-€1.1m▲ 17.7%-€912,888▲ 16.8%-€632,091▲ 30.8%

Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.

Why a figure moved sharply

2021 Net result -83% on 2020. The accounts now follow the micro schema, last year the abbreviated schema.
2021 Equity +2,661%, Total assets +246% on 2020. Cause not known from the registers.

Result per fiscal year

Operating resultNet result

The operating result has fallen two years in a row; 2025 is 46% below 2024.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €6.6m

93.4%

Fixed assets €6.2m ▼ 3.8%

Current assets €439,467 ▲ 428%

Equity and liabilities €6.6m

52.3%

47.7%

Equity €3.5m ▼ 1.2%

Debt €3.2m ▲ 5.1%

Debt's share of the balance-sheet total rises from 46.2% to 47.7%. Equity is lower and debt is higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€291,471▲

2024 · €213,989

Cash flow

€202,104▲

2024 · €149,229

Current ratio

0.41▲

2024 · 0.08

Debt to equity

0.91▲

2024 · 0.86

ROE

-1.2%▼

2024 · 0.7%

ROA

-0.6%▼

2024 · 0.4%

Interest coverage

4.80▲

2024 · 3.64

Debt ≤ 1 year

€1.1m▲

2024 · €996,160

Debt > 1 year

€2.1m▲

2024 · €2.0m

Income taxes

€28,674▲

2024 · €5,958

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

Peer companies

Historical observation

Of the 119 companies that looked in July 2024 the way this one looks now, 0% went bankrupt within 24 months and 95% are still going.

Medium-sized
5 to 10 years old
solvency 30% or more
a small loss

0% went bankrupt

4.2% stopped otherwise

95% still going

A further 0.8% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
Group	Expected	Actual
1	0.2%	0.2%
2	0.3%	0.4%
3	0.5%	0.5%
4	0.6%	0.7%
5	0.8%	0.9%
6	1.2%	1.3%
7	1.5%	1.6%
8	1.7%	1.7%
9	2.7%	2.8%
10	5.3%	5.7%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.

An observation about 119 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Filed annual accounts As filed with the NBB · 2025 against 2024 · 54 lines

Balance sheet Code20242025

Assets

Total assets20/58€6.5m€6.6m▲

Fixed assets21/28€6.4m€6.2m▼

Tangible fixed assets22/27€6.4m€6.2m▼

Land and buildings22€4.0m€3.7m▼

Plant, machinery and equipment23€218,030€195,360▼

Assets under construction and advance payments27€2.2m€2.2m=

Financial fixed assets28€135-

Current assets29/58€83,272€439,467▲

Amounts receivable within one year40/41€81,195€436,378▲

Trade receivables40€18,947€152,446▲

Other amounts receivable41€62,247€283,932▲

Cash at bank and in hand54/58€314€30▼

Deferred charges and accrued income490/1€1,764€3,058▲

Equity and liabilities

Total equity and liabilities10/49€6.5m€6.6m▲

Equity10/15€3.5m€3.5m▼

Contributions10/11€61,500€61,500=

Capital10€61,500€61,500=

Issued capital100€61,500€61,500=

Revaluation surpluses12€3.3m€3.2m▼

Reserves13€123,536€243,623▲

Non-distributable reserves130/1€3,448€3,448=

Legal reserve130€3,448€3,448=

Distributable reserves133€120,088€240,175▲

Profit (loss) carried forward14-€11,993-€53,310▼

Amounts payable17/49€3.0m€3.2m▲

Amounts payable after more than one year17€2.0m€2.1m▲

Financial debts170/4€2.0m€2.1m▲

Amounts payable within one year42/48€996,160€1.1m▲

Current portion of amounts payable after more than one year42€165,241€192,816▲

Financial debts43-€58

Credit institutions430/8-€58

Trade debts44€651,699€687,375▲

Suppliers440/4€651,699€687,375▲

Taxes, remuneration and social security45€15,536€34,633▲

Taxes450/3€8,223€34,633▲

Remuneration and social security454/9€7,313-

Other amounts payable47/48€163,684€156,677▼

Accrued charges and deferred income492/3-€21,658

Income statement Code20242025

Non-recurring operating income76A-€9,578

Remuneration, social security and pensions62€500-

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€124,813€243,421▲

Other operating charges640/8€62€742▲

Gross operating margin9900€214,551€292,213▲

Operating profit (loss)9901€89,176€48,050▼

Financial income75/76B-€77

Recurring financial income75-€77

Financial charges65/66B€58,801€60,770▲

Recurring financial charges65€58,801€60,770▲

Profit (loss) for the period before taxes9903€30,375-€12,643▼

Income taxes67/77€5,958€28,674▲

Profit (loss) for the period9904€24,416-€41,317▼

Profit (loss) for the period to be appropriated9905€24,416-€41,317▼

Appropriation of the result

Profit (loss) to be appropriated9906-€11,993-€53,310▼

Profit (loss) brought forward from the previous period14P-€36,409-€11,993▲

The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line	2021	2022	2023	2024	2025	Change
Non-recurring operating income76A	-	-	-	-	€9,578	-
Remuneration, social security and pensions62	€33,107	€7,134	€2,896	€500	-	-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€75,972	€232,299	€115,781	€124,813	€243,421	▲ 95.0%
Other operating charges640/8	€56,006	€2,529	€62	€62	€742	▲ 1,097%
Gross operating margin9900	€197,162	€158,725	€209,901	€214,551	€292,213	▲ 36.2%
Operating profit (loss)9901	€32,077	-€83,237	€91,161	€89,176	€48,050	▼ 46.1%
Financial income75/76B	-	€2,484	€25	-	€77	-
Recurring financial income75	-	€2,484	€25	-	€77	-
Financial charges65/66B	€5,577	€70,062	€63,502	€58,801	€60,770	▲ 3.3%
Recurring financial charges65	€5,577	€70,062	€63,502	€58,801	€60,770	▲ 3.3%
Profit (loss) for the period before taxes9903	€26,500	-€150,814	€27,684	€30,375	-€12,643	▼ 142%
Income taxes67/77	€5,300	-	-	€5,958	€28,674	▲ 381%
Profit (loss) for the period9904	€21,200	-€150,814	€27,684	€24,416	-€41,317	▼ 269%
Profit (loss) for the period to be appropriated9905	€21,200	-€150,814	€27,684	€24,416	-€41,317	▼ 269%

Line	2021	2022	2023	2024	2025	Change
Assets
Total assets20/58	€5.1m	€7.1m	€6.9m	€6.5m	€6.6m	▲ 1.7%
Fixed assets21/28	€4.8m	€6.8m	€6.7m	€6.4m	€6.2m	▼ 3.8%
Tangible fixed assets22/27	€4.8m	€6.8m	€6.7m	€6.4m	€6.2m	▼ 3.8%
Land and buildings22	€4.0m	€4.0m	€4.3m	€4.0m	€3.7m	▼ 5.6%
Plant, machinery and equipment23	€62,408	€263,369	€240,700	€218,030	€195,360	▼ 10.4%
Assets under construction and advance payments27	€734,086	€2.6m	€2.2m	€2.2m	€2.2m	=
Financial fixed assets28	-	€135	€135	€135	-	-
Current assets29/58	€317,235	€248,094	€159,627	€83,272	€439,467	▲ 428%
Amounts receivable within one year40/41	€317,092	€247,851	€156,566	€81,195	€436,378	▲ 437%
Trade receivables40	€290,000	€30,625	€93,318	€18,947	€152,446	▲ 705%
Other amounts receivable41	€27,092	€217,226	€63,247	€62,247	€283,932	▲ 356%
Cash at bank and in hand54/58	€143	€243	€234	€314	€30	▼ 90.3%
Deferred charges and accrued income490/1	-	-	€2,827	€1,764	€3,058	▲ 73.4%
Equity and liabilities
Total equity and liabilities10/49	€5.1m	€7.1m	€6.9m	€6.5m	€6.6m	▲ 1.7%
Equity10/15	€3.6m	€3.5m	€3.5m	€3.5m	€3.5m	▼ 1.2%
Contributions10/11	€61,500	€61,500	€61,500	€61,500	€61,500	=
Capital10	€61,500	€61,500	€61,500	€61,500	€61,500	=
Issued capital100	€61,500	€61,500	€61,500	€61,500	€61,500	=
Revaluation surpluses12	€3.5m	€3.3m	€3.3m	€3.3m	€3.2m	▼ 3.6%
Reserves13	€90,169	€123,536	€123,536	€123,536	€243,623	▲ 97.2%
Non-distributable reserves130/1	€3,448	€3,448	€3,448	€3,448	€3,448	=
Legal reserve130	€3,448	€3,448	€3,448	€3,448	€3,448	=
Distributable reserves133	€86,721	€120,088	€120,088	€120,088	€240,175	▲ 100%
Profit (loss) carried forward14	-	-€64,093	-€36,409	-€11,993	-€53,310	▼ 345%
Amounts payable17/49	€1.5m	€3.6m	€3.4m	€3.0m	€3.2m	▲ 5.1%
Amounts payable after more than one year17	€663,518	€2.0m	€2.2m	€2.0m	€2.1m	▲ 2.8%
Financial debts170/4	€663,518	€2.0m	€2.2m	€2.0m	€2.1m	▲ 2.8%
Amounts payable within one year42/48	€873,043	€1.6m	€1.3m	€996,160	€1.1m	▲ 7.6%
Current portion of amounts payable after more than one year42	€58,612	€143,198	€161,092	€165,241	€192,816	▲ 16.7%
Financial debts43	€109,650	-	-	-	€58	-
Credit institutions430/8	€109,650	-	-	-	€58	-
Trade debts44	€539,250	€1.3m	€852,674	€651,699	€687,375	▲ 5.5%
Suppliers440/4	€539,250	€1.3m	€852,674	€651,699	€687,375	▲ 5.5%
Taxes, remuneration and social security45	€30,274	€15,029	€12,200	€15,536	€34,633	▲ 123%
Taxes450/3	€24,806	€9,295	€4,887	€8,223	€34,633	▲ 321%
Remuneration and social security454/9	€5,468	€5,734	€7,313	€7,313	-	-
Other amounts payable47/48	€135,257	€133,288	€231,023	€163,684	€156,677	▼ 4.3%
Accrued charges and deferred income492/3	-	-	-	-	€21,658	-

Line	2021	2022	2023	2024	2025	Change
Profit (loss) for the period9904	€21,200	-€150,814	€27,684	€24,416	-€41,317	▼ 269%
+ Depreciation and write-downs630	€75,972	€232,299	€115,781	€124,813	€243,421	▲ 95.0%
Operating cash flow (approximation)	€97,172	€81,485	€143,465	€149,229	€202,104	▲ 35.4%
Investment in fixed assets (approximation)	-	-€2.2m	-€35,351	€200,486	€135	▼ 99.9%
Change in cash	-	€100	-€9	€80	-€283	▼ 454%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Timeline · acts, filings and financial milestones

All 13Financial 5Gazette 1Filings 7

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

2026

21-09

State Gazette act Reappointments: loannis Kapenekakis (non-statutory director) and Michael Kapenekakis (non-statutory director)

7 facts ▸

General meeting, 20-12-2024
Director reappointment, loannis Kapenekakis (non-statutory director)
Director reappointment, Michael Kapenekakis (non-statutory director)
Board meeting, 20-12-2024
Director reappointment, loannis Kapenekakis (day-to-day manager)
Director reappointment, Michael Kapenekakis (day-to-day manager)
Other statement, form instruction for the front of the last page of Luik B, name and capacity of the instrumenting notary, or of the person(s) authorised to represent the legal…

20-04

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

2025

04-08

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema · 4 days late

2024

17-09

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema · 48 days late

2023

31-12

Financial Back to profitnet €27,684

Net result €27,684 after one loss-making year.

01-09

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 32 days late

2022

31-12

Financial Weakest financial yearnet -€150,814

Net result drops to -€150,814, the lowest in the series; recovery starts the following year.

31-08

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 31 days late

2021

31-12

Financial Equity above €2mEq €3.6m ▲2,661%

2 profitable years in a row build equity to €3.6m.

31-08

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema · 31 days late

2020

31-12

Financial Back to profitnet €128,038

Net result €128,038 after one loss-making year.

31-12

Financial Equity above €100,000Eq €130,469 ▲5,267%

Equity rises from €2,431 to €130,469.

31-10

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema · 92 days late

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

1 of 2 acts read

About the unread acts

Of the 2 Belgian State Gazette acts we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors

2 directors, 2 in day-to-day management, last change in 2024

Board 2

loannis Kapenekakis

Non-statutory director · since 20-12-2024

Current

Michael Kapenekakis

Non-statutory director · since 20-12-2024

Current

Day-to-day management 2

loannis Kapenekakis

Day-to-day manager · since 20-12-2024

Current

Michael Kapenekakis

Day-to-day manager · since 20-12-2024

Current

Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ. See the function holders in the CBE →

Not every act has been read: a resignation may be missing here

1 of this company's 2 Belgian State Gazette acts has not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.

Location & real-estate footprint

Registered office, Dilsen-Stokkem

exact location from the address register On OpenStreetMap

Ground area

1.6 ha

Building footprint

7 m²

Volume, LiDAR

25 m³

Parcel 73043B0217/00F002, Flanders · tallest building 3.9 m, ±1 floor. Linked by address, not a title deed.

5 companies at this address See who is registered here

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
73043B0217/00F002	Flanders	1.6 ha	1 · 7 m²	3.9 m · 1 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.

Mandate history

2 people since 2024, 2 in office

All 2 In office 2

Board
Day-to-day management
began earlier

Mandates per person, with start and end dates
Name	Functions and periods
loannis Kapenekakis	Non-statutory director, already before 20-12-2024 to date Day-to-day manager, already before 20-12-2024 to date
Michael Kapenekakis	Non-statutory director, already before 20-12-2024 to date Day-to-day manager, already before 20-12-2024 to date

See the board, name and seat on a given date →

Structure & network

Connections & network

2 current directors

Depth

The network starts from this company’s directors. Other companies they run appear here as nodes.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, scroll to zoom.

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Of 3,761 companies in sector 68321 we hold annual accounts for 1,391. 501 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification

Legal formPublic limited company

Founded27-12-2018

Fiscal year end31-12

Activities, NACEBEL 2025

68321Property management for co-owned buildings (syndics)

68204Real estate activities

82100Office administrative and support services

E-invoicing

Reachable via Peppol

Peppol ID 0208:0716908390

Also 9925:BE0716908390

Registered 31-10-2023

Scores and ratios are computed by Checked and are not a credit decision.