VGA BUILDING
InactiveVGA BUILDING was declared bankrupt on 05-09-2023 (Ondernemingsrechtbank Brussel); the bankruptcy was closed for insufficient assets by judgment of 18-03-2025, published in the Belgian State Gazette on 25-03-2025.
Summary
Inactive; last annual accounts for fiscal year 2021.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2022, 4 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 3 filingsPosition against the passed deadline
31-12-2022 close31-07-2023 deadline24-09-2026 today
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 28-01-2023, 181 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 3 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
181 d late
2020
178 d late
2019
217 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2021, micro schema
Equity
€119k▲ 1.0%
2020 · €117k
2019: €55k
2020: €117k
2019 → 2021
Total assets
€289k▲ 57.7%
2020 · €184k
2019: €94k
2020: €184k
2019 → 2021
Net result
€127▼ 99.8%
2020 · €62k
2019: €55k
2020: €62k
2019 → 2021
Working capital
€119k▲ 6.3%
2020 · €112k
2019: €50k
2020: €112k
2019 → 2021
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line201920202021Trend
Equity€55k-€117k▲ 112%€119k▲ 1.0%
Operating result€69k-€73k▲ 6.8%€478▼ 99.3%
Net result€55k-€62k▲ 13.3%€127▼ 99.8%
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 2021; 2021 is 99% below 2020 and is the lowest result in the available series.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Equity and liabilities €289k
Equity
€119k ▲ 1.0%
Debt
€171k ▲ 158%
Debt's share of the balance-sheet total rises from 36.0% to 59.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€6k▼
2020 · €76k
Cash flow
€6k▼
2020 · €65k
Current ratio
1.69▼
2020 · 2.69
Debt to equity
1.44
ROE
0.1%▼
2020 · 52.9%
ROA
0.0%▼
2020 · 33.8%
Interest coverage
16.20
Debt ≤ 1 year
€171k▲
2020 · €66k
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 · 2021 against 2020 · 36 lines
Balance sheet
Code20202021
Assets
Total assets20/58€184k€289k▲
Fixed assets21/28€6k-
Tangible fixed assets22/27€6k€0▼
Current assets29/58€178k€289k▲
Amounts receivable within one year40/41€176k€286k▲
Trade receivables40-€280k
Other amounts receivable41-€6k
Cash at bank and in hand54/58€2k€3k▲
Deferred charges and accrued income490/1-€20
Equity and liabilities
Total equity and liabilities10/49€184k€289k▲
Equity10/15€117k€119k▲
Contributions10/11€500€500=
Reserves13€2k€2k=
Non-distributable reserves130/1-€2k
Reserves not available under the articles1311-€2k
Profit (loss) carried forward14€115k€116k▲
Amounts payable17/49€66k€171k▲
Amounts payable within one year42/48€66k€171k▲
Financial debts43-€8k
Credit institutions430/8-€8k
Trade debts44€24k€163k▲
Suppliers440/4-€163k
Income statement
Code20202021
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€6k▲
Other operating charges640/8-€3k
Gross operating margin9900€78k€9k▼
Operating profit (loss)9901€73k€478▼
Financial income75/76B-€22
Recurring financial income75€9k€22▼
Financial charges65/66B-€372
Recurring financial charges65€1k€372▼
Profit (loss) for the period before taxes9903€81k€127▼
Income taxes67/77€19k-
Profit (loss) for the period9904€62k€127▼
Profit (loss) for the period to be appropriated9905€62k€127▼
Appropriation of the result
Profit (loss) to be appropriated9906-€116k
Profit (loss) brought forward from the previous period14P-€116k
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
25-03
Bankruptcy
Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Brussel · VGA BUIL- DING BV EMILE WITTMANNSTRAAT 5, 1030 BRUSSEL 3 · event 18-03-2025
2023
12-09
Bankruptcy
Opening
Ondernemingsrechtbank Brussel · VGA BUILDING BV EMILE WITTMANNSTRAAT 5, 1030 BRUSSEL 3. Handelsbenaming: BV — · event 05-09-2023
28-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 181 days late
2022
25-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 178 days late
2021
31-12
Financial
Weakest financial yearnet €127 ▼99.8%
Net result drops to €127, the lowest in the series.
05-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 217 days late
2020
31-12
Financial
Highest result since 2019net €62k ▲13.3%
Operating result €73k, net result €62k, both a record.
31-12
Financial
Equity above €100kEq €117k ▲112%
2 profitable years in a row build equity to €117k.
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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
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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | Luc PLESSERS KUNSTLAAN 24 BUS 9A, 1000 BRUSSEL 1- |
05-09-2023 → 18-03-2025 |