VGM Construct
ActiveSummary
The computed 12-month bankruptcy probability of VGM Construct is 2.3% (moderate). The 2025 annual accounts show negative equity (-€38,994) and a net result of -€1,956. Equity is shrinking by ~6% per year across the filed fiscal years. The company has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals.
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Signals
This company filed its last 7 accounts on average 30 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
History
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Financials · fiscal year 2025, micro schema
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Peer companies
Historical observationOf the 6,940 companies that looked in July 2024 the way this one looks now, 5.5% went bankrupt within 24 months and 85% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.3% 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 497,662 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% | 1.7% |
| 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 75% 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 6,940 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Gross operating margin9900 | -€1,831 | -€1,582 | -€1,743 | -€1,828 | -€1,896 | ▼ 3.7% |
| Operating profit (loss)9901 | -€1,831 | -€1,582 | -€1,743 | -€1,828 | -€1,896 | ▼ 3.7% |
| Financial income75/76B | - | - | €8 | €14 | €15 | ▲ 0.4% |
| Recurring financial income75 | - | - | €8 | €14 | €15 | ▲ 0.4% |
| Financial charges65/66B | €67 | €69 | €69 | €74 | €75 | ▲ 2.0% |
| Recurring financial charges65 | €67 | €69 | €69 | €74 | €75 | ▲ 2.0% |
| Profit (loss) for the period before taxes9903 | -€1,898 | -€1,651 | -€1,803 | -€1,887 | -€1,956 | ▼ 3.7% |
| Profit (loss) for the period9904 | -€1,898 | -€1,651 | -€1,803 | -€1,887 | -€1,956 | ▼ 3.7% |
| Profit (loss) for the period to be appropriated9905 | -€1,898 | -€1,651 | -€1,803 | -€1,887 | -€1,956 | ▼ 3.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3,978 | €3,909 | €3,848 | €3,789 | €3,728 | ▼ 1.6% |
| Current assets29/58 | €3,978 | €3,909 | €3,848 | €3,789 | €3,728 | ▼ 1.6% |
| Cash at bank and in hand54/58 | €3,978 | €3,909 | €3,848 | €3,789 | €3,728 | ▼ 1.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3,978 | €3,909 | €3,848 | €3,789 | €3,728 | ▼ 1.6% |
| Equity10/15 | -€31,697 | -€33,348 | -€35,151 | -€37,038 | -€38,994 | ▼ 5.3% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | -€39,757 | -€41,408 | -€43,211 | -€45,098 | -€47,054 | ▼ 4.3% |
| Amounts payable17/49 | €35,674 | €37,257 | €38,999 | €40,827 | €42,723 | ▲ 4.6% |
| Amounts payable within one year42/48 | €35,674 | €37,257 | €38,999 | €40,827 | €42,723 | ▲ 4.6% |
| Trade debts44 | - | €827 | €926 | €952 | €2,848 | ▲ 199% |
| Suppliers440/4 | - | €827 | €926 | €952 | €2,848 | ▲ 199% |
| Other amounts payable47/48 | €35,674 | €36,430 | €38,073 | €39,875 | €39,875 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,898 | -€1,651 | -€1,803 | -€1,887 | -€1,956 | ▼ 3.7% |
| Operating cash flow (approximation) | -€1,898 | -€1,651 | -€1,803 | -€1,887 | -€1,956 | ▼ 3.7% |
| Change in cash | - | -€69 | -€61 | -€59 | -€60 | ▼ 2.4% |
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
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Directors · office · real estate
1 establishment unit
1 parcel
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71064A0479/00D000 | Flanders | 1,869 m² | 1 · 203 m² | 10.1 m · 2 fl. |
Linked by address, not proof of ownership
Identification & contact
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.