VFX
ActiveSummary
VFX has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €53,402 and a net result of €1,894. Equity is growing by ~11.9% per year across the filed fiscal years. Its solvency ranks better than 45% of 1540 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability71▼-12
Solvency68▲+11
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days acceptable
Liquidity ample (current ratio 2.34 against 1.15 in 2024; short-term debt: 15.5% and cash: 1.4% of total assets), but 57.5% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 59
Relative position
BE, all sectors
reference
Motion picture, video and television programme production, sound recording and music publishing activities (NACE 59)
about 37% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
42.5%
Return on assets
1.5%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 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
27 d late
2024
5 d late
2023
13 d late
2022
45 d early
2021
9 d early
2020
30 d late
2019
21 d early
← 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 on the deadline day; the sector median for financial year 2024 is 2 days before the deadline, and 41% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€53,402▲ 3.7%
2024 · €51,508
Total assets
€125,626▼ 22.8%
2024 · €162,734
Net result
€1,894▼ 89.9%
2024 · €18,732
Working capital
€26,034▲ 252%
2024 · €7,390
Trend over the years
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-€6,889€19,590€13,783▼ 29.6%€33,182▲ 141%€7,607▼ 77.1%
Net result-€14,398▼ 331%€10,175€8,964▼ 11.9%€18,732▲ 109%€1,894▼ 89.9%
Equity€13,636▼ 51.4%€23,811▲ 74.6%€32,776▲ 37.6%€51,508▲ 57.2%€53,402▲ 3.7%
Total assets€128,108▼ 22.4%€153,539▲ 19.9%€132,660▼ 13.6%€162,734▲ 22.7%€125,626▼ 22.8%
Debt€114,472▼ 16.5%€129,728▲ 13.3%€99,884▼ 23.0%€111,226▲ 11.4%€72,224▼ 35.1%
Working capital€13,147▼ 40.8%-€16,640€1,700€7,390▲ 335%€26,034▲ 252%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 77% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €125,626
Fixed assets
€80,138 ▼ 25.1%
Current assets
€45,488 ▼ 18.5%
Equity and liabilities €125,626
Equity
€53,402 ▲ 3.7%
Debt
€72,224 ▼ 35.1%
Debt's share of the balance-sheet total falls from 68.3% to 57.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€34,411▼
2024 · €58,910
Cash flow
€28,698▼
2024 · €44,460
Current ratio
2.34▲
2024 · 1.15
Debt to equity
1.35▼
2024 · 2.16
ROE
3.5%▼
2024 · 36.4%
ROA
1.5%▼
2024 · 11.5%
Interest coverage
10.15▼
2024 · 14.04
Debt ≤ 1 year
€19,454▼
2024 · €48,403
Debt > 1 year
€52,770▼
2024 · €62,823
Income taxes
€2,354▼
2024 · €10,285
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 16,986 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% 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%.
| 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 16,986 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
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €2,141 | - | - |
| Remuneration, social security and pensions62 | - | - | €3,166 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,666 | €17,659 | €18,510 | €25,728 | €26,804 | ▲ 4.2% |
| Other operating charges640/8 | €1,506 | €1,532 | €1,415 | €2,839 | €1,862 | ▼ 34.4% |
| Non-recurring operating charges66A | - | - | - | €300 | - | - |
| Gross operating margin9900 | €12,283 | €38,781 | €36,874 | €62,048 | €36,273 | ▼ 41.5% |
| Operating profit (loss)9901 | -€6,889 | €19,590 | €13,783 | €33,182 | €7,607 | ▼ 77.1% |
| Financial income75/76B | €4 | €5 | €30 | €30 | €30 | ▲ 0.1% |
| Recurring financial income75 | €4 | €5 | €30 | €30 | €30 | ▲ 0.1% |
| Financial charges65/66B | €5,201 | €4,812 | €4,742 | €4,194 | €3,390 | ▼ 19.2% |
| Recurring financial charges65 | €5,201 | €4,812 | €4,742 | €4,194 | €3,390 | ▼ 19.2% |
| Profit (loss) for the period before taxes9903 | -€12,086 | €14,783 | €9,071 | €29,017 | €4,248 | ▼ 85.4% |
| Income taxes67/77 | €2,313 | €4,607 | €107 | €10,285 | €2,354 | ▼ 77.1% |
| Profit (loss) for the period9904 | -€14,398 | €10,175 | €8,964 | €18,732 | €1,894 | ▼ 89.9% |
| Transfer from tax-exempt reserves789 | €18,750 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €4,352 | €10,175 | €8,964 | €18,732 | €1,894 | ▼ 89.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €128,108 | €153,539 | €132,660 | €162,734 | €125,626 | ▼ 22.8% |
| Fixed assets21/28 | €97,637 | €121,992 | €103,482 | €106,942 | €80,138 | ▼ 25.1% |
| Intangible fixed assets21 | €812 | - | - | - | - | - |
| Tangible fixed assets22/27 | €96,825 | €121,992 | €103,482 | €106,942 | €80,138 | ▼ 25.1% |
| Land and buildings22 | €90,603 | €117,001 | €100,636 | €84,270 | €67,905 | ▼ 19.4% |
| Plant, machinery and equipment23 | €3,228 | €3,221 | €2,302 | €2,578 | €1,602 | ▼ 37.9% |
| Furniture and vehicles24 | €2,995 | €1,770 | €544 | €20,093 | €10,631 | ▼ 47.1% |
| Current assets29/58 | €30,472 | €31,547 | €29,178 | €55,792 | €45,488 | ▼ 18.5% |
| Amounts receivable after more than one year29 | - | - | - | - | €31,000 | - |
| Other amounts receivable291 | - | - | - | - | €31,000 | - |
| Stocks and contracts in progress3 | €18,000 | €10,005 | - | - | - | - |
| Contracts in progress37 | €18,000 | €10,005 | - | - | - | - |
| Amounts receivable within one year40/41 | €11,143 | €19,088 | €24,050 | €48,880 | €11,799 | ▼ 75.9% |
| Trade receivables40 | €4,302 | €3,001 | €18,050 | €20,485 | €11,799 | ▼ 42.4% |
| Other amounts receivable41 | €6,840 | €16,086 | €6,000 | €28,395 | - | - |
| Cash at bank and in hand54/58 | €440 | €2,246 | €4,195 | €5,723 | €1,738 | ▼ 69.6% |
| Deferred charges and accrued income490/1 | €888 | €209 | €933 | €1,189 | €951 | ▼ 20.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €128,108 | €153,539 | €132,660 | €162,734 | €125,626 | ▼ 22.8% |
| Equity10/15 | €13,636 | €23,811 | €32,776 | €51,508 | €53,402 | ▲ 3.7% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €1,860 | €12,035 | €21,000 | €39,732 | €41,002 | ▲ 3.2% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | €10,175 | €21,000 | €39,732 | €41,002 | ▲ 3.2% |
| Profit (loss) carried forward14 | -€624 | -€624 | -€624 | -€624 | - | - |
| Amounts payable17/49 | €114,472 | €129,728 | €99,884 | €111,226 | €72,224 | ▼ 35.1% |
| Amounts payable after more than one year17 | €97,148 | €81,541 | €72,406 | €62,823 | €52,770 | ▼ 16.0% |
| Financial debts170/4 | €97,148 | €81,541 | €72,406 | €62,823 | €52,770 | ▼ 16.0% |
| Amounts payable within one year42/48 | €17,325 | €48,187 | €27,478 | €48,403 | €19,454 | ▼ 59.8% |
| Current portion of amounts payable after more than one year42 | €8,300 | €8,707 | €9,135 | €9,583 | €10,053 | ▲ 4.9% |
| Trade debts44 | €3,868 | €33,930 | €4,622 | €2,108 | €1,986 | ▼ 5.8% |
| Suppliers440/4 | €3,868 | €33,930 | €4,622 | €2,108 | €1,986 | ▼ 5.8% |
| Taxes, remuneration and social security45 | €5,156 | €5,550 | €11,271 | €19,048 | €5,964 | ▼ 68.7% |
| Taxes450/3 | €5,156 | €5,550 | €11,271 | €19,048 | €5,964 | ▼ 68.7% |
| Other amounts payable47/48 | - | - | €2,451 | €17,664 | €1,451 | ▼ 91.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€14,398 | €10,175 | €8,964 | €18,732 | €1,894 | ▼ 89.9% |
| + Depreciation and write-downs630 | €17,666 | €17,659 | €18,510 | €25,728 | €26,804 | ▲ 4.2% |
| Operating cash flow (approximation) | €3,267 | €27,834 | €27,474 | €44,460 | €28,698 | ▼ 35.5% |
| Investment in fixed assets (approximation) | - | -€42,014 | €0 | -€29,187 | €0 | ▲ 100% |
| Change in cash | - | €1,805 | €1,950 | €1,528 | -€3,985 | ▼ 361% |
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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
31-12
Financial
Liquidity doublescurrent ratio 2.34
Current ratio from 1.15 to 2.34; short-term debt falls from €48,403 to €19,454.
05-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 5 days late
2024
31-12
Financial
Highest result since 2018net €18,732 ▲109%
Operating result €33,182, net result €18,732, both a record.
13-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 13 days late
2023
16-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €10,175
Net result €10,175 after 2 loss-making years.
22-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet -€14,398
Net result drops to -€14,398, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
10-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
12-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 28 days late
2017
27-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 27 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Antwerpen · 1 establishment unit since 2004
Ground area
373 m²
Building footprint
190 m²
Volume, LiDAR
3,744 m³
Parcel 11808H1174/00V003, Flanders · tallest building 23.7 m, ±7 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
VELVET
since 20042.302.627.867
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11808H1174/00V003 | Flanders | 373 m² | 1 · 190 m² | 23.7 m · 7 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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GRAPPA
BE 0465.692.941
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NUEVOMEDIA
BE 0509.989.871
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Of 2,582 companies in sector 59113 we hold annual accounts for 702. 560 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
Founded27-07-2004
Fiscal year end31-12
Activities, NACEBEL 2025
59113Video and film production, excluding cinema and television films
18130Pre-press and pre-media services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0866545837
Also
9925:BE0866545837
Registered
18-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.