VGAC
ActiveSummary
VGAC has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €376,226 and a net result of €118,945. Equity is growing by about 45% per year across the filed financial years. Its solvency ranks better than 95% of 20,614 sector peers (NACE 86, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
- Equity
- €376,226
- Profit
- €118,945
Why 98lowers riskSector: Human health activities (NACE 86)Liquidity: current ratio 56.74, cash €243,421Equity €376,226 (98.4% of total assets)Size: total assets €382,153Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 86, micro): better than 82% on solvency, 95% on liquidity, 80% on profitability and 79% on growth.
The bankruptcy probability was computed on 26-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 3 accounts on average 15 days before the deadline; the sector median (NACE 86) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Liquidity more than 9 timescurrent ratio 56.74
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2023 to 2025, 3 financial years
The operating result recovers in 2025; 2025 is 9% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 86, Human health activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 39,278 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 95.8% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: < 0.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 39,278 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.
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €885 | €7,680 | €11,787 | ▲ 53.5% |
| Other operating charges640/8 | - | €107 | €120 | ▲ 12.0% |
| Gross operating margin9900 | €184,787 | €146,691 | €163,531 | ▲ 11.5% |
| Operating profit (loss)9901 | €183,902 | €138,905 | €151,624 | ▲ 9.2% |
| Financial income75/76B | €3,833 | €4,371 | €2,058 | ▼ 52.9% |
| Recurring financial income75 | €3,833 | €4,371 | €2,058 | ▼ 52.9% |
| Financial charges65/66B | - | €90 | €250 | ▲ 177% |
| Recurring financial charges65 | - | €90 | €250 | ▲ 177% |
| Profit (loss) for the period before taxes9903 | €187,734 | €143,185 | €153,432 | ▲ 7.2% |
| Income taxes67/77 | €42,693 | €32,946 | €34,487 | ▲ 4.7% |
| Profit (loss) for the period9904 | €145,041 | €110,239 | €118,945 | ▲ 7.9% |
| Profit (loss) for the period to be appropriated9905 | €145,041 | €110,239 | €118,945 | ▲ 7.9% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €192,067 | €301,412 | €382,153 | ▲ 26.8% |
| Formation expenses20 | €914 | €703 | €493 | ▼ 30.0% |
| Fixed assets21/28 | €10,082 | €48,054 | €45,353 | ▼ 5.6% |
| Tangible fixed assets22/27 | €10,082 | €48,054 | €45,353 | ▼ 5.6% |
| Furniture and vehicles24 | €4,657 | €41,389 | €33,784 | ▼ 18.4% |
| Other tangible fixed assets26 | €5,425 | €6,665 | €11,570 | ▲ 73.6% |
| Current assets29/58 | €181,071 | €252,655 | €336,307 | ▲ 33.1% |
| Amounts receivable within one year40/41 | €100,198 | €46,716 | €41,277 | ▼ 11.6% |
| Other amounts receivable41 | €100,198 | €46,716 | €41,277 | ▼ 11.6% |
| Cash at bank and in hand54/58 | €43,165 | €155,223 | €243,421 | ▲ 56.8% |
| Deferred charges and accrued income490/1 | €37,708 | €50,716 | €51,609 | ▲ 1.8% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €192,067 | €301,412 | €382,153 | ▲ 26.8% |
| Equity10/15 | €147,041 | €257,281 | €376,226 | ▲ 46.2% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | = |
| Contributions outside capital11 | €2,000 | €2,000 | - | - |
| Other1109/19 | €2,000 | €2,000 | - | - |
| Profit (loss) carried forward14 | €145,041 | €255,281 | €374,226 | ▲ 46.6% |
| Amounts payable17/49 | €45,026 | €44,132 | €5,927 | ▼ 86.6% |
| Amounts payable within one year42/48 | €45,026 | €44,132 | €5,927 | ▼ 86.6% |
| Trade debts44 | - | €1,438 | €1,440 | ▲ 0.1% |
| Suppliers440/4 | - | €1,438 | €1,440 | ▲ 0.1% |
| Taxes, remuneration and social security45 | €45,026 | €42,693 | €4,487 | ▼ 89.5% |
| Taxes450/3 | €42,693 | €42,693 | €4,487 | ▼ 89.5% |
| Remuneration and social security454/9 | €2,333 | - | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €145,041 | €110,239 | €118,945 | ▲ 7.9% |
| + Depreciation and write-downs630 | €885 | €7,680 | €11,787 | ▲ 53.5% |
| Operating cash flow (approximation) | €145,927 | €117,919 | €130,733 | ▲ 10.9% |
| Investment in fixed assets (approximation) | - | -€45,651 | -€9,087 | ▲ 80.1% |
| Change in cash | - | €112,058 | €88,198 | ▼ 21.3% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (3)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 17-06-2026 | 2026-00167943 |
| 31-12-2024 | micro format | 17-07-2025 | 2025-00315328 |
| 31-12-2023 | micro format | 13-08-2024 | 2024-00348816 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| AMANATIDOU Aikaterini |
|
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
25-08
Gazette deed
Registered officeRegistered-office move · Director in office3 facts ▸
- General meeting, 16-05-2023
- Registered-office move, rue Eunice Nancy Osayante 7 bte 6 à 1000 Bruxelles
- Director in office, Aikaterini Amanatidou (director)
08-05
Gazette deed
IncorporationAppointment: AMANATIDOU Aikaterini (director) · Founder · Founding capital12 facts ▸
- Founder, AMANATIDOU Aikaterini (comparant)
- Incorporation, “VGAC” (deed in French)
- Founding capital, €2,000
- Bank account, “Banque ING”, 2000 (deed in French)
- Other provision, “arrêt des statuts, comparant” (deed in French)
- Capital
- Other provision, “loi, effectivité dispositions finales transitoires” (deed in French)
- Registered office clause, “1000 Bruxelles, Quai de Willebroeck”, 22 (deed in French)
- Board rule, 1
- Director appointment, AMANATIDOU Aikaterini (director (not named in the articles))
- Other provision, “commissaire”, 4 (deed in French)
- Pre-incorporation commitments, “takeover, engagements obligations activités au nom et pour compte société en formation” (deed in French)
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 27 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the KBO register.
Eunice N. Osayandestraat 71000 Brussel1 establishment unit
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “La société a pour objet l'exercice de la Médecine et plus particulièrement les prestations spécialisés d'anesthésie,par le ou les associés…” (deed in French)
6 activities (deed in French)
- La société a pour objet l'exercice de la Médecine et plus particulièrement les prestations spécialisés d'anesthésie,par le ou les associés qui la composent,lesquels sont exclusivement des médecins inscrits au Tableau de l'Ordre des Médecins.
- La Médecine est exercée au nom et pour le compte de la société.
- La société pourra faire tout acte nécessaire et/ou indispensable à l'accomplissement de son objet et plus particulièrement toute transactions mobilières et immobilières concernant les locaux médicaux,l'achat du matériel médical et non médical,l'engagement du personnel administratif,soignant,pratiquant ou appelé à pratiquer dans la société.
- Elle ne pourra cependant poser aucun acte quelconque que dans le stricte respect des règles de la déontologie médicale.En particulier,la société garantit à chaque médecin associé qu'il pourra exercer sa profession et toute indépendance dans le respect des règles relatives au secret médical,à la liberté diagnostique et thérapeutique du praticien,et au libre choix du patient.Toute forme de commercialisation de la médecine,de la collusion directe ou indirecte,de dichotomie et de surconsommation est interdite.
- La société pourra d'une façon générale accomplir toutes opérations se rapportant directement ou indirectement à la réalisation de son objet social sans en modifier le caractère civil et la vocation médicale.
- A titre accessoire,la société pourra également avoir pour objet la constitution,la gestion et la valorisation d'un patrimoine immobilier,notamment par l'achat,la vente,la location,la mise en location,la construction,le tout au sens le plus large,pour autant que n'en soient altérés,ni son caractère civil,ni sa vocation prioritairement médicale,et que ces opérations,s'inscrivant dans les limites d'une gestion en bon père de famille,n'aient pas un caractère répétitif et commercial.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- VGAC
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région de Bruxelles-Capitale, sièges administratifs,agences,ateliers,dépôts et succursales,tant en Belgique qu'à l'étranger,par simple…” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Un ou plusieurs, nombre,durée,pouvoirs en cas de pluralité” (deed in French)“15, frais généraux plus frais représentation/voyages/déplacements” (deed in French)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Nominatives, registre des actions nominatives avec mentions requises par Code des sociétés et des associations;droit de consultation pour…” (deed in French)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Actions ne peuvent,à peine de nullité,être cédées entre vifs ou transmises pour cause de mort qu'à des médecins qui exercent ou exerceront…” (deed in French)“Toute cession, 11” (deed in French)“12, dispositions portées au Conseil du médecin” (deed in French)1 more provision on this in the deed
- Share issue ruleHow and by whom new shares can be issued.
- “Apport en numéraire avec émission de nouvelles actions - droit de préférence, organe qui procède à l'émission” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Friday of June at 18:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Formes prévues pour modifications aux statuts, tout temps par décision assemblée générale” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Code de déontologie médicale, pouvoirs et émoluments” (deed in French)