VHN IMMO
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 25 days after the deadline Filed on 25 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00430013.
Annual accounts 2025 filed on 25-08-2026 at the NBB
Turnover and EBIT margin are not published. The micro format does not require them.
Comparable companies
These companies have the same main activity as VHN IMMO: renting and operating of own or leased non-residential real estate, excluding land (NACE 68203). They are comparable in size and age: total assets between €475,000 and €657,000, founded between 2024 and 2025.
| Company | Founded | Total assets | Equity | Gross margin | Net result | Financial year |
|---|---|---|---|---|---|---|
| VHN IMMO Mont-Saint-Guibert | 2024 | €558,349 | -€15,158 | -€10,320 | -€40,158 | 2025 |
| CASA Santé Nivelles | 2025 | €646,686 | €23,130 | -€19,580 | -€46,870 | 2025 |
| PACS Incourt | 2024 | €656,849 | -€15,914 | -€5,427 | -€51,679 | 2025 |
| MEDIRO REAL ESTATE Hasselt | 2024 | €550,746 | -€20,628 | -€11,691 | -€35,628 | 2025 |
| Groepspraktijk SB JM Tervuren | 2024 | €556,509 | -€44,959 | -€14,066 | -€49,959 | 2025 |
| werk.lokaal Gent | 2024 | €541,076 | €21,162 | -€5,294 | -€40,674 | 2025 |
| Orchidee Sint-Katelijne-Waver | 2024 | €474,549 | €34,719 | -€5,108 | -€25,281 | 2025 |
They were chosen from the 6,621 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 1,251 companies had the same profile as VHN IMMO has now. Two years later, 1.0% had gone bankrupt and 96.6% were still going.
- Small
- 2 to 5 years old
- negative equity
- a small loss
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of VHN IMMO itself is higher: 1.2% within 12 months. It rests on far more data about VHN IMMO than the profile alone.
Test of the method
The method was tested on the 497,445 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.
| 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 1,251 companies, not a prediction for VHN IMMO. 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.
| Line | 2025 |
|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,684 |
| Gross operating margin9900 | -€10,320 |
| Operating profit (loss)9901 | -€27,004 |
| Financial charges65/66B | €13,154 |
| Recurring financial charges65 | €13,154 |
| Profit (loss) for the period before taxes9903 | -€40,158 |
| Profit (loss) for the period9904 | -€40,158 |
| Profit (loss) for the period to be appropriated9905 | -€40,158 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €558,349 | |
| Fixed assets21/28 | €536,482 | |
| Tangible fixed assets22/27 | €536,482 | |
| Land and buildings22 | €214,123 | |
| Plant, machinery and equipment23 | €322,359 | |
| Current assets29/58 | €21,867 | |
| Amounts receivable within one year40/41 | €16,448 | |
| Other amounts receivable41 | €16,448 | |
| Cash at bank and in hand54/58 | €5,419 | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €558,349 | |
| Equity10/15 | -€15,158 | |
| Contributions10/11 | €25,000 | |
| Profit (loss) carried forward14 | -€40,158 | |
| Amounts payable17/49 | €573,507 | |
| Amounts payable after more than one year17 | €467,251 | |
| Financial debts170/4 | €467,251 | |
| Amounts payable within one year42/48 | €106,233 | |
| Current portion of amounts payable after more than one year42 | €25,749 | |
| Financial debts43 | €40,000 | |
| Credit institutions430/8 | €40,000 | |
| Other amounts payable47/48 | €40,484 | |
| Accrued charges and deferred income492/3 | €23 | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | -€40,158 |
| + Depreciation and write-downs630 | €16,684 |
| Operating cash flow (approximation) | -€23,474 |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 25-08-2026 | 2026-00430013 | NBB |