Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of VICE BELGIUM is 1.4% (low). The 2023 annual accounts show equity of €142k and a net result of €-322k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 19% of 218 sector peers (fiscal year 2023). The company has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 6 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyoneStatistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Signals
1 signal · with evidenceSignals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.
Filing behaviour
From the deposit records, complete market-wide| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 31-12-2025 | 31-07-2026 | nothing on record | not filed | - |
| 31-12-2024 | 31-07-2025 | nothing on record | not filed | - |
| 31-12-2023 | 31-07-2024 | 31-10-2024 | 92 d late | 2024-00527186 |
| 31-12-2022 | 31-07-2023 | 06-09-2023 | 37 d late | 2023-00440652 |
| 31-12-2021 | 31-07-2022 | 31-08-2022 | 31 d late | 2022-20393720 |
| 31-12-2020 | 31-07-2021 | 15-07-2021 | 16 d early | 2021-36700170 |
| 31-12-2019 | 31-07-2020 | 11-09-2020 | 42 d late | 2020-53300166 |
| 31-12-2018 | 31-07-2019 | 20-09-2019 | 51 d late | 2019-65100578 |
| 31-12-2017 | 31-07-2018 | 17-07-2018 | 14 d early | 2018-33800509 |
| 31-12-2016 | 31-07-2017 | 26-06-2017 | 35 d early | 2017-22200228 |
| 31-12-2015 | 31-07-2016 | 09-06-2016 | 52 d early | 2016-16600032 |
| 31-12-2014 | 31-07-2015 | 03-06-2015 | 58 d early | 2015-14700293 |
Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.
Trust signals
2 signalsAdministrative Flags
Financials
Annual accounts & ratios
Source: NBB · 2023How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 7.2% | 43.7% | |
| Net result | €-322k | €19k | |
| Equity | €142k | €105k | |
| Gross operating margin | €657k | €79k | |
| Staff costs | €395k | €172k |
| Fiscal year | 2023 |
|---|---|
| Deposit | verkort |
| Revenue | - |
| EBITDA | €263k |
| Net profit | €-322k |
| Cash flow | €-321k |
| Staff costs | €395k |
| Income taxes | €6k |
| Dividends | - |
| Total assets | €1.97M |
| Equity | €142k |
| Debt | €1.83M |
| of which ≤ 1y | €1.58M |
| of which > 1y | €0 |
| Working capital | €379k |
| Employees (FTE) | 5.0 |
| 2023 | |
|---|---|
| Current ratio | 1.24 |
| Quick ratio | 1.24 |
| Working capital ratio | 19.3% |
| Solvency | 7.2% |
| Debt / equity | 12.90 |
| Long-term debt ratio | 0.00 |
| Interest coverage | 0.45 |
| Gross margin | - |
| Net margin | - |
| ROA | -16.3% |
| ROE | -226.8% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
| Line item | Code | 2023 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €1.97M |
| Fixed assets | 21/28 | €12k |
| Tangible fixed assets | 22/27 | €0 |
| Financial fixed assets | 28 | €12k |
| Current assets | 29/58 | €1.96M |
| Amounts receivable within one year | 40/41 | €1.92M |
| Cash & bank | 54/58 | €42k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €1.97M |
| Equity | 10/15 | €142k |
| Contributions / capital | 10/11 | €19k |
| Reserves | 13 | €2k |
| Accumulated profits (losses) | 14 | €121k |
| Amounts payable | 17/49 | €1.83M |
| Amounts payable after one year | 17 | €0 |
| Amounts payable within one year | 42/48 | €1.58M |
| Trade debts payable within one year | 44 | €960k |
| Income statement | ||
| Gross operating margin | 9900 | €657k |
| Operating result | 9901 | €262k |
| Financial income | 75 | €0 |
| Financial charges | 65 | €578k |
| Result before taxes | 9903 | €-315k |
| Income taxes | 67/77 | €6k |
| Net result for the period | 9904 | €-322k |
| Result to be appropriated | 9905 | €-322k |
Health barometer
FY 2023 · computedUnlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.
See plans →Directors
Directors & mandates
6 directors-
Current17-01-2022 → present
-
Current08-12-2020 → present
Former directors (4)
-
Former08-12-2020 → 17-01-2022
2 events
- 17-01-2022 Resigned· Director
- 08-12-2020 Appointed· Director
-
Former18-01-2019 → 08-12-2020
2 events
- 08-12-2020 Resigned· Director
- 18-01-2019 Appointed· Manager
-
Former18-01-2019 → 17-01-2020
2 events
- 17-01-2020 Resigned· Director
- 18-01-2019 Appointed· Manager
-
Former- → 18-01-2019
Insolvency mandates
Legal Structure
| NACE primary | Activiteiten van reclamebureaus(73110) |
| Legal form | Private limited company(610) |
| Incorporation | 26-07-2007 |
| Status | Active |
| Postal code | 1080 |
Structure & network
Connections & network
4 connected companiesLocations & real estate
Registered office
from the Crossroads BankThis address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Koolmijnenkaai 621080 Sint-Jans-MolenbeekEstablishment units
1 locationReal-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21012A0228/00W008 | Brussels | 752 m² | 1 · 590 m² | 24.3 m · 7 fl. |
Publications
Lifecycle & Insolvency Signals
Belgisch Staatsblad · acts
10 acts13-04-2026 Act object · General meeting · Officer resignation · Officer appointment
- Filing: 2026-04-03 · VICE BELGIUM
- Publication: 2026-04-13 · VICE BELGIUM
- Act object: Ontslag en benoeming bestuurders · VICE BELGIUM
- General meeting: 2026-02-25 · VICE BELGIUM
- Officer resignation: date: 2025-06-14, role: bestuurder · Bruce Dixon
- Officer appointment: role: bestuurder, duration: onbepaalde duur, start_date: 2025-06-14 · Adam Stotsky
- Mandate compensation: amount: 0, currency: EUR · Adam Stotsky
- Power of attorney: scope: publicatie van de genomen beslissingen in de Bijlagen bij het Belgisch Staatsblad, onder meer door het ondertekenen en indienen, als bijzonder gevolmachtigde, van de publicatieformulieren I en II en alle handelingen te stellen die nodig of nuttig zijn in dit verband · Kristoffel Vermeersch
- Power of attorney: scope: publicatie van de genomen beslissingen in de Bijlagen bij het Belgisch Staatsblad, onder meer door het ondertekenen en indienen, als bijzonder gevolmachtigde, van de publicatieformulieren I en II en alle handelingen te stellen die nodig of nuttig zijn in dit verband · Charlotte De Backer
- Power of attorney: scope: publicatie van de genomen beslissingen in de Bijlagen bij het Belgisch Staatsblad, onder meer door het ondertekenen en indienen, als bijzonder gevolmachtigde, van de publicatieformulieren I en II en alle handelingen te stellen die nodig of nuttig zijn in dit verband · Marie-Judith Vanden Kerchove
- Power of attorney: scope: publicatie van de genomen beslissingen in de Bijlagen bij het Belgisch Staatsblad, onder meer door het ondertekenen en indienen, als bijzonder gevolmachtigde, van de publicatieformulieren I en II en alle handelingen te stellen die nodig of nuttig zijn in dit verband · Frederik Laevens
- Power of attorney: scope: publicatie van de genomen beslissingen in de Bijlagen bij het Belgisch Staatsblad, onder meer door het ondertekenen en indienen, als bijzonder gevolmachtigde, van de publicatieformulieren I en II en alle handelingen te stellen die nodig of nuttig zijn in dit verband · MVVP Avocats/Advocaten
16-10-2024 Transaction in capital or shares
09-04-2024 Publication in the Belgian Official Gazette, Minor change
14-02-2022 1 director appointed, 1 resigning
27-01-2021 2 directors appointed, 1 resigning
- Holger Simon, Bestuurder
- Hozefa Lokhandwala, Bestuurder
- Matthew Christopher Elek, Bestuurder
28-02-2020 Sjoerd Raaijmakers resigns as director
01-02-2019 2 directors appointed, 1 resigning
- Sjoerd Raaijmakers, Zaakvoerder
- Matthew Christopher Elek, Zaakvoerder
- Thijs Boon, Zaakvoerder
04-04-2018 Registered office moved within Brussel
- Bloemenstraat 32, 1000 Brussel → Koolmijnenkaai 62, 1080 Brussel
02-02-2017 Registered office moved from Antwerpen 1 to Brussel
- Lamorinierestraat 161, 2018 Antwerpen 1 → Bloemenstraat 32, 1000 Brussel
21-12-2010 Registered office moved from Antwerpen 1 to Antwerpen
- Klokstraat 12, 2018 Antwerpen 1 → Lamorinièrestraat 161, 2018 Antwerpen
Analysis
Snowflake analysis
financial profile on 5 axesFragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
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Credit advice
verdict per customer and amountSimilar
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Comparable size, same sectorCompany registry
Company registry (CBE)
Crossroads Bank| Legal nameNL | VICE BELGIUM |