Checked.be · Company dossierhttps://checked.be/en/c/vh-development-0778730945 · as of 11-11-2026
VH Development
ActivePrivate limited company · founded 2021 · active for 4 yearsIlya Prigoginelaan 1, 1180 UccleKBO/BCE: BE 0778.730.945subsidiary of Name after signing inVisible after signing in
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2 directorsName hiddenVisible after signing in and 1 other
Owners2 names in the annual accounts
100%Hidden nameVisible after signing in
Documentsfilings and deeds
14-10-202617 days before the deadline
2026abbreviated format
Gross margin from -€25,114 to €5,435Loss of €324,370Reappointment: Hidden nameVisible after signing in (statutory auditor)09-11Equity from -€64,407 to -€388,776Debts from €5.6m to €9.0mCash from €271,636 to €646,734
Lower net result than 95% of companies in real estate. Sector median €15,335 · 409 companies.
Net result -380%: other schema
Checked score
Checked score
The higher the Checked score (0 to 100), the smaller the chance that the company goes bankrupt within twelve months. That chance sets the band, from Critical to Excellent, and within the band how the company does against its sector peers counts too. With a low score, agree a shorter payment term, an advance or security.
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Bankruptcy probability within 12 months
Bankruptcy probability
It is the chance that the company goes bankrupt within twelve months, estimated from the registers, the annual accounts and the Belgian Official Gazette. At 0.2%, about 2 in 1,000 comparable companies go bankrupt. The higher it is, the shorter the payment term to agree.
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Financial strength
Financial strength
Financial strength measures the balance sheet and the results with three figures out of 100 from the latest annual accounts: solvency, liquidity and profitability. It does not directly set the Checked score's band. How the company does against its sector peers on these and on growth does count for its place within the band.
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Score breakdown
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Comparable companies, two years later
In July 2024, 473 companies had the same profile as VH Development has now. Each dot is one company, two years later.
95.3%
were still trading
2.7%
stopped another way
1.5%
went bankrupt
Medium-sized
negative equity
a small loss
without age
Another 0.4% stopped without a precise date, possibly only after those two years.
Test of the method
The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
The companies in ten equal groups, from the lowest to the highest expected share
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%
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 473 companies, not a prediction for VH Development. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit verdict
The credit verdict says how much credit you can give the company on open account. “Acceptable” means normal terms, “With conditions” means limiting the amount or the term. “Not advised” means asking for payment up front.
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Reappointment: Name after signing inVisible after signing in (statutory auditor)
General meeting of 17-09-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0778730945
Resignations & appointments
General meeting of 10-03-2022 · Gazette deed
Company renamed from VH Project to VH Development
Capital increase of €6,000 · 12 new shares · Appointments: Name hiddenVisible after signing in (statutory auditor) and Hidden nameVisible after signing in (director) · General meeting of 15-02-2023 · Gazette deed
Sector peers are the companies with the same activity (NACE code) and, where stated, the same size, that the company is compared with. A percentile says how many of them do worse.
These companies have the same main activity as VH Development: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €6.5m and €18m, founded between 2019 and 2023.
VH Development files the abbreviated format. That format states no turnover. The gross margin rose from -€33,064 in 2023 to €5,435 in 2026.
Name hiddenVisible after signing in holds all the shares. In December 2021, the Official Gazette published the appointment of Hidden nameVisible after signing in as managing director.
abbreviated format, filed on 14-10-2026, 17 days before the deadline
Abbreviated and micro format
Small companies may file abbreviated or micro-format accounts. They often leave out revenue and other detail. The law allows it, so it is not missing data.
The turnover shown is an estimate from the gross margin.
Turnover ≈ €23,000. Estimated: probably between €11,000 and €71,000.
Balance sheet
balance sheet total €8.7m on 31-03-2026
What the company ownsHow it is paid for
in euro
in euro
Position in the sector
Sector peers
Sector peers are the companies with the same activity (NACE code) and, where stated, the same size, that the company is compared with. A percentile says how many of them do worse.
The notes to these accounts have 14 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
A company files its annual accounts with the National Bank no later than seven months after its financial year ends. Repeated late filing is a warning sign.
per financial year, computed from the annual accounts
Line
Trend
2026
2025
2024
2023
-
-
-
3.7m
375,098
226,187
-183,666
-
-615,666
-1.5m
707,698
630,446
-4.5%
-1.2%
0.1%
0.3%
0.91
0.62
1.85
1.74
0.22
0.09
0.19
0.95
-
-
-407.8%
-241.1%
-3.7%
-1.2%
-0.3%
-0.8%
EBIT margin: not included in this filing.
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Securities and guarantees
on own assets and for others
Real securities
Real securities, such as a mortgage or a pledge, give a creditor priority over certain assets. In a bankruptcy that creditor is paid first. Less is then left for ordinary suppliers.
Item
31-03-2026
31-03-2025
31-03-2024
31-03-2023
Mortgages, amount registered
€8.6m
€8.6m
€8.6m
-
Carrying value of the mortgaged assets
€5.0m
€2.0m
€1.4m
-
Source: notes to the 2023 to 2026 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
fixed assets acquired
Investment
Investment is what the company bought in the financial year in buildings, machinery, software and other fixed assets. Above depreciation, it is building up. Years below it, it is living off what it has.
Item
31-03-2026
31-03-2025
31-03-2024
31-03-2023
Financial fixed assets
-
-
-
€3.7m
Source: notes to the 2023 to 2026 annual accounts (statement of fixed assets)
Insights on VH Development
The operating result for 2026 is a profit of €1,089, after a loss of €68,596 in 2025. It is the highest result since 2023.
Equity is negative. Debt (€9.0m) exceeds the balance-sheet total (€8.7m).
Large changes and their cause
2026Net result -380% on 2025.The accounts now follow the abbreviated format, last year the full format.
Board & ownership
Board
Directors
Many board changes in a short time are a reason to keep a close eye on the company.
2 directors, 1 in day-to-day management, 1 auditor, no change since November 2026
Each bar is one period in a role, from appointment to resignation or to today. An open left edge means the mandate began before its first mention. An open right edge means the mandate ended without a stated end date.
4 names, the dashed line is today
2021202220232024202520262027202820292030
Hidden nameVisible after signing in Director (not named in the articles), Managing director
Name after signing inVisible after signing in Director
Name hiddenVisible after signing in Statutory auditor
Hidden nameVisible after signing in Director (not named in the articles)
LeadershipBoardEarlierRest of the term
Mandates as a list
Name after signing inVisible after signing in
Director (not named in the articles), from 15-12-2021 to date
Managing director, appointed by deed of 20-12-2021, still in office
Name hiddenVisible after signing in
Director, from 15-02-2023 to date
Hidden nameVisible after signing in
Statutory auditor, from 15-02-2023 to date
Name after signing inVisible after signing in
Director (not named in the articles), appointed by deed of 20-12-2021, until 23-02-2023
Company renamed from VH Project to VH DevelopmentCapital increase of €6,000 · 12 new shares · Appointments: Hidden nameVisible after signing in (statutory auditor) and Name after signing inVisible after signing in (director) · General meeting of 15-02-202314 points ▸
General meeting, 15-02-2023
Incorporation, 15-12-2021
Auditor appointment, Name hiddenVisible after signing in (statutory auditor)
Auditor report, 15-02-2023
Amendment of the articles, article 5, mentioned twice in the deed
Capital increase, €6,000
Permanent representative, Hidden nameVisible after signing in, mentioned twice in the deed
Permanent representative, Name after signing inVisible after signing in, mentioned twice in the deed
Name hiddenVisible after signing in holds 12 shares
Name change, VH Development
Director resignation, Hidden nameVisible after signing in
Director discharge, Name after signing inVisible after signing in
Director appointment, Name hiddenVisible after signing in
Power of attorney, Hidden nameVisible after signing in
IncorporationFounding capital of €50,000 · Founder: Name after signing inVisible after signing in · Appointments: Name hiddenVisible after signing in (director) and Hidden nameVisible after signing in (director) · published on 20-12-20219 points ▸
Each sentence rests on a document from the KBO register, the Belgian Official Gazette or the National Bank. The number after the sentence opens that document.
On 16 December 2021, VH Development was incorporated as a private limited company by Name hiddenVisible after signing in, with a starting capital of €50,000.12The name was changed to VH Development in 2023.3In 2023 the capital was increased by €6,000.3Of the 2 current board members, Hidden nameVisible after signing in has served longest, since 2021.4Total assets went from €4.7m in 2023 to €8.7m in 2026.5
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
41102Construction of residential and non-residential buildings
68100Real estate activities
68203Real estate rental
68312Real estate activities
PurposeThe purpose describes the activities the company may carry out under its articles.
“L’acquisition de tous biens ou droits immobiliers et la réalisation de toutes opérations sur lesdits biens; Toutes…”
13 activities
L’acquisition de tous biens ou droits immobiliers et la réalisation de toutes opérations sur lesdits biens
Toutes transactions,promotions,intermédiations,investissements et plus généralement opérations,en rapport avec des biens ou droits immobiliers et notamment
La recnversion,l’aménagement,le réaménagement,la construction,la démolition,la dépollution,la transformation,la rénovation,l’équipement,la viabilisation,la division,l’urbanisation,la mise en valeur et la mutation sous quelque forme que ce soit (achat,vente,échange,…),de tous biens (maisons,appartements,…)ou ensembles immobiliers (lotissement,…),ainsi que la location
Les études gélogiques,les études de la nature et de l'ampleur de la pollution de terrains
L'achat de terrains,la réalisation de la dépllution,et l'aménagement de terrains destinés à être vendus en tut ou partie
La revente,la lcation,la sous-location,la concession d’exploitation,la cession en location et en sous-location,la mise à disposition,le tout avec ou sans option d'achat,ou l’inverse,d’immeubles
L'explitation et l'entretien d’immeubles (maisons,appartements,bureaux,magasins,terrains,terres et domaines,parkings,garages,…),et de fonds de commerce
La gestion et la coordination de tous projets en rapport avec le logement,le commerce,les affaires sociales et les infrastructures ou opérations publiques,privées ou en partenariat
L'exécution de toutes prestations de fournitures de logements meublés au sens de l'article 18,§1er,alinéa 2,10° du Code de la taxe sur la valeur ajoutée
Le financement lié à ces opérations,en ce compris de leasing immobilier
La conception,l’invention,la fabrication,la construction ou l’assemblage,l'importation,l'exportation,l'achat et la vente,la distribution,l'entretien,la maintenance et l'exploitation,tant en nom propre qu'en qualité d'agent,de commissionnaire ou de courtier de tous biens mobiliers ou immobiliers accessoires aux immeubles par nature (équipements,sanitaires,éclairages,installations et dispositifs de production,d’accumulation ou de récupération d’énergie,fossile ou non,matériaux...),en ce compris de tous véhicules et machines à moteur
La prise de participation de la Société,par tous moyens,directement ou indirectement,dans toutes opérations pouvant se rattacher à son objet par voie de création de sociétés nouvelles,d'apport,de souscription ou d'achat de titres ou droits sociaux,de fusion ou autrement,de création,d'acquisition,de location,de prise en location-gérance de tous fonds de commerce ou établissements; la prise,l'acquisition,l'exploitation ou la cession de tous procédés et brevets concernant ces activités
Ainsi que l'achat,la vente et la location d'œuvres d'arts,de meubles meublants,d'objets de collection et de décoration
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0778.730.945
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