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VGS DEVELOPMENT

Active
Private limited companyfounded 1999active for 27 yearsCesar Francklaan(Kok) 4, 8670 Koksijde, BelgiumKBO/BCE: BE 0465.687.102
Summary

VGS DEVELOPMENT has been active since 1999 and the Belgian Official Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €87,818 and a net result of -€4,516. Equity has been shrinking by about 18% per year since 2019. If that trend continues, it turns negative around financial year 2028. Its solvency ranks better than 60% of 411 sector peers (NACE 68, financial year 2026). The computed 12-month bankruptcy probability is 0.2% (very low).

Overview

Official details

Source: KBO
Status
Active since 19-03-1999 Normal situation
Activity
Development of residential building projects NACE 68121and 2 others
Establishment unit
2.183.423.478 8670 Koksijde, since 06-03-1999
Financial year end
31 March
Peppol
Reachable since 16-04-2025

Board and ownership

Board

Financial position

86 Excellent Checked score 2026
Bankruptcy probabilitywithin 12 months
0.2%
Annual accounts to 31-03-2026
Gross margin
-€3,311
▲ 93.9%
Loss
€4,516
▼ 95.3%
Equity
€87,818
▼ 4.9%
Total assets
€159,261
▲ 11.6%
Turnover not published (micro format)
Score breakdownraises riskLiquidity: current ratio 2.20, cash €4,122lowers riskFounded in 1999Size: total assets €159,261Sector: Real estate activities (NACE 68)Show the evidence

Checked score

Score 2026
86 / 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 36% of micro companies in real estate (NACE 68)
Financial strength · tick: 2025
Weak
Solvency 80-10
equity 55.1% of total assets
Liquidity 31-5
short-term debt 44.9% · cash 2.6%
Profitability 15+15
return on assets -2.8%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%

About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (26,630 companies, NACE 68, micro)
Last 24 months 12-2024: 0.5% 01-2025: 0.5%● unchanged vs 12-2024 02-2025: 0.5%● unchanged vs 01-2025 03-2025: 0.5%● unchanged vs 02-2025 04-2025: 0.5%● unchanged vs 03-2025 05-2025: 0.5%● unchanged vs 04-2025 06-2025: 0.5%● unchanged vs 05-2025 07-2025: 0.5%● unchanged vs 06-2025 08-2025: 0.5%● unchanged vs 07-2025 09-2025: 0.5%● unchanged vs 08-2025 10-2025: 0.6%▲ +0.1 percentage points vs 09-2025 11-2025: 0.6%● unchanged vs 10-2025 12-2025: 0.6%● unchanged vs 11-2025 01-2026: 0.6%● unchanged vs 12-2025 02-2026: 0.6%● unchanged vs 01-2026 03-2026: 0.6%● unchanged vs 02-2026 04-2026: 0.6%● unchanged vs 03-2026 05-2026: 0.6%● unchanged vs 04-2026 06-2026: 0.6%● unchanged vs 05-2026 07-2026: 0.6%● unchanged vs 06-2026highest value 08-2026: 0.6%● unchanged vs 07-2026 09-2026: 0.6%● unchanged vs 08-2026 10-2026: 0.2%▼ -0.4 percentage points vs 09-2026lowest value 11-2026: 0.2%● unchanged vs 10-2026lowest value
Credit of up to €7,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.2 (2.79 in 2025), above the usual 1.5. Short-term debt is 44.9% and cash 2.6% of total assets. 44.9% of the assets are financed with debt and provisions.
Calculation

The band follows from the bankruptcy probability. 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 68, micro). It does better than 68% of them on solvency, 24% on liquidity, 17% on profitability and 34% on growth.

The bankruptcy probability was computed on 02-11-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

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The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Six signals.
lowers riskraises riskneutral
lowers risk · Founded in 1999
Companies that have existed this long fail less often. How much that weighs depends on the rest of the company's profile.
KBO
raises risk · Liquidity: current ratio 2.20, cash €4,122
NBB · annual accounts
lowers risk · Size: total assets €159,261
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
lowers risk · Sector: Real estate activities (NACE 68)
KBO
raises risk · Persistent losses
Two consecutive loss-making years (2025 and 2026); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2026
Net result per financial year
1920212223242526
2019 to 2026 · latest year -€4,516
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 16-09-2026, 45 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2026
45 days early
2025
45 days early
2024
45 days early
2023
42 days early
2022
27 days early
2021
27 days early
2020
4 days late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 32 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today. The company usually files around 16 September (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
03-11-2026 today31-03-2027 year end31-10-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Key points

  • Risk: 6 loss-making years in a rowloss in financial year 2026 -€4,516 View
  • Positive: Result rose in 2026from -€95,694 to -€4,516 ▲ 95.3% View
  • Positive: Filed on time since financial year 2021accounts within the deadline every year 6 years View

Recent changes

  1. · Gazette deed Company renamed from VAN GOETHEM to VGS DevelopmentResignation: Carl Jozef Frieda VAN GOETHEM (director) · Reappointment: Carl Jozef Frieda VAN GOETHEM (director) · Appointment: Katrien VAN GOETHEM (additional director)
  2. · Gazette deed Incorporation
All 14 events

Comparable companies

These companies have the same main activity as VGS DEVELOPMENT: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €158,000 and €184,000, founded between 1995 and 2002.

CompanyTotal assetsGross margin
VGS DEVELOPMENT Koksijde€159,261-€3,311
Construction Design & Engineering Brecht€157,921-€3,949
BONA FIDES Le Roeulx€169,743-€27,135
Construction Traditionnelle Belge Ukkel€184,288-€2,433
IMMO DEVAUX Wijnegem€160,127-€1,351
Brussels Shipping Grimbergen€166,059-€1,077
LPC+ Hamont-Achel€161,909-€34,763
Full comparison

Key facts about VGS DEVELOPMENT

What is the company number of VGS DEVELOPMENT?
The company number of VGS DEVELOPMENT is 0465.687.102. The VAT number is the same number with BE in front: BE 0465.687.102.
Where is VGS DEVELOPMENT based?
The registered office is at Cesar Francklaan(Kok) 4, 8670 Koksijde.Company details
What does VGS DEVELOPMENT do?
According to the KBO register, the main activity is development of residential building projects (NACE 68121).
What is the legal form of VGS DEVELOPMENT?
The legal form of VGS DEVELOPMENT is Private limited company (BV).
When was VGS DEVELOPMENT founded?
VGS DEVELOPMENT was founded on 19-03-1999.
Is VGS DEVELOPMENT still active?
Yes, VGS DEVELOPMENT is an active enterprise in the KBO register.
What is the turnover of VGS DEVELOPMENT?
The annual accounts for financial year 2026 state no turnover. The micro format does not require it.Financials
Is VGS DEVELOPMENT profitable?
In financial year 2026, VGS DEVELOPMENT made a loss of €4,516.
Where can I find the annual accounts of VGS DEVELOPMENT?
VGS DEVELOPMENT filed 27 annual accounts with the National Bank of Belgium, the latest for financial year 2026.
When are the next annual accounts of VGS DEVELOPMENT due?
VGS DEVELOPMENT must file the annual accounts for financial year 2027 by 31-10-2027.Timeline

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