Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
Of this, €170,341 falls due within a year.
Nine of the last ten came late. The 2019 accounts came latest: 61 days after the end of the period.
In July 2024, 3,633 companies had the same profile as VICUS has now. Each dot stands for 10 companies, two years later.
Another 0.4% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,762 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 3,633 companies, not a prediction for VICUS. 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.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
VICUS files the micro format. That format states no turnover. The gross margin rose from €2,919 in 2009 to €46,690 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
The turnover shown is an estimate from the gross margin.
Turnover ≈ €190,000. Estimated: probably between €110,000 and €340,000.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||
20/58 |
108,597 | 128,595 | 139,300 | 151,017 | 163,451 | 178,983 | 195,129 | 208,484 | 221,937 | 221,636 | 236,481 | 242,037 | 256,037 | 247,329 | 224,916 | 219,253 | 201,643 | |
21/28 |
101,010 | 122,327 | 135,069 | 149,117 | 161,719 | 176,998 | 191,687 | 207,443 | 221,198 | 219,526 | 235,606 | 240,328 | 255,250 | 244,493 | 221,670 | 217,967 | 199,684 | |
22/27 |
101,010 | 122,327 | 135,069 | 149,117 | 161,719 | 176,998 | 191,687 | 207,443 | 221,198 | 219,526 | 235,606 | 240,328 | 255,250 | 244,493 | 221,670 | 217,967 | 199,684 | |
22 |
98,157 | 118,778 | 132,450 | 146,121 | 161,110 | 176,099 | 191,088 | 206,077 | 219,164 | 215,372 | 229,331 | 232,722 | 246,154 | 233,528 | 208,837 | 203,764 | 187,430 | |
23 |
2,853 | 3,550 | 2,619 | 2,996 | 608 | 899 | 599 | 1,366 | 2,034 | 4,154 | 6,275 | 7,606 | 9,097 | 10,965 | 12,833 | 14,202 | 12,254 | |
29/58 |
7,587 | 6,268 | 4,231 | 1,899 | 1,732 | 1,985 | 3,442 | 1,041 | 739 | 2,110 | 875 | 1,709 | 787 | 2,836 | 3,245 | 1,287 | 1,960 | |
40/41 |
2,500 | 2,500 | 2,500 | 1,000 | 1,000 | 1,000 | 1,000 | 100 | - | - | - | - | - | 0 | 15 | 15 | 15 | |
40 |
2,500 | 2,500 | 2,500 | 1,000 | 1,000 | 1,000 | 1,000 | 100 | - | - | - | - | - | - | - | - | - | |
41 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 15 | 15 | 15 | |
54/58 |
4,311 | 3,032 | 999 | 107 | 17 | 300 | 601 | 320 | 3 | 1,377 | 95 | 191 | 613 | 1 | 3,024 | 1,020 | 1,945 | |
490/1 |
776 | 735 | 732 | 793 | 714 | 685 | 1,841 | 621 | 736 | 732 | 780 | 1,518 | 174 | 2,835 | 206 | 252 | 0 | |
| Balance sheet: equity and liabilities | ||||||||||||||||||
10/49 |
108,597 | 128,595 | 139,300 | 151,017 | 163,451 | 178,983 | 195,129 | 208,484 | 221,937 | 221,636 | 236,481 | 242,037 | 256,037 | 247,329 | 224,916 | 219,253 | 201,643 | |
10/15 |
-132,406 | -160,726 | -156,307 | -152,146 | -146,527 | -137,853 | -126,687 | -117,181 | -104,553 | -91,348 | -80,479 | -67,200 | -53,689 | -39,269 | -23,561 | -13,253 | -13,388 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 6,500 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 12,100 | |
14 |
-151,006 | -179,326 | -174,907 | -170,746 | -165,127 | -156,453 | -145,287 | -135,781 | -123,153 | -109,948 | -99,079 | -85,800 | -72,289 | -57,869 | -42,161 | -31,853 | -19,888 | |
17/49 |
241,003 | 289,322 | 295,607 | 303,163 | 309,977 | 316,836 | 321,815 | 325,665 | 326,490 | 312,983 | 316,960 | 309,237 | 309,727 | 286,598 | 248,477 | 232,506 | 215,031 | |
17 |
70,663 | 79,703 | 88,245 | 96,310 | 103,937 | 111,145 | 117,955 | 124,380 | 130,462 | 135,539 | 140,969 | 146,086 | 152,598 | 131,547 | 107,818 | 111,893 | 115,760 | |
170/4 |
17,963 | 27,003 | 35,545 | 43,610 | 51,237 | 58,445 | 65,255 | 71,680 | 77,762 | 83,509 | 88,939 | 94,056 | 98,905 | 103,488 | 107,818 | 111,893 | 115,760 | |
178/9 |
52,700 | 52,700 | 52,700 | 52,700 | 52,700 | 52,700 | 52,700 | 52,700 | 52,700 | 52,030 | 52,030 | 52,030 | 53,692 | 28,059 | - | - | - | |
42/48 |
170,341 | 209,619 | 207,362 | 206,853 | 206,040 | 205,691 | 203,860 | 201,285 | 196,029 | 177,444 | 175,991 | 163,151 | 157,129 | 155,051 | 140,659 | 120,614 | 99,271 | |
42 |
9,040 | 8,542 | 8,065 | 7,628 | 7,207 | 6,811 | 6,425 | 6,082 | 5,747 | 5,430 | 5,117 | 4,849 | 4,582 | 4,330 | 4,075 | 3,867 | 3,654 | |
43 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 11 | - | - | - | |
430/8 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 11 | - | - | - | |
44 |
124 | 0 | 120 | 49 | 55 | 1,882 | 437 | 0 | 8,683 | 966 | 1,002 | 629 | 1,394 | 3,333 | 3,535 | 6,614 | 8,737 | |
440/4 |
124 | 0 | 120 | 49 | 55 | 1,882 | 437 | 0 | 8,683 | 966 | 1,002 | 629 | 1,394 | 3,333 | 3,535 | 6,614 | 8,737 | |
47/48 |
161,177 | 201,077 | 199,177 | 199,177 | 198,777 | 196,999 | 196,999 | 195,203 | 181,598 | 171,048 | 169,872 | 157,672 | 151,153 | 147,378 | 133,049 | 110,132 | 86,880 | |
| Income statement | ||||||||||||||||||
70 |
- | - | - | - | - | - | - | - | - | - | 21,997 | 12,810 | - | - | 14,513 | 10,417 | 9,120 | |
9900 |
46,690 | 14,454 | 14,750 | 14,791 | 12,031 | 10,013 | 12,510 | 9,966 | 10,128 | 11,830 | 9,981 | 8,685 | 7,900 | 4,676 | 8,559 | 6,214 | 2,919 | |
60/61 |
- | 10,899 | - | 3,934 | 6,203 | 7,941 | 4,829 | 4,957 | 3,330 | 3,060 | 12,016 | 4,125 | - | - | 5,954 | 4,203 | 6,201 | |
630 |
14,369 | 14,375 | 14,048 | 15,286 | 15,280 | 15,228 | 15,756 | 16,571 | 17,014 | 16,080 | 16,080 | 15,394 | 15,299 | 13,338 | 11,530 | 10,743 | 13,655 | |
640/8 |
2,164 | 2,094 | 2,021 | 1,829 | 1,790 | 1,904 | 1,882 | 1,315 | 1,295 | 1,276 | 1,601 | 938 | 931 | 805 | 789 | 630 | 1,067 | |
9901 |
30,157 | -2,015 | -1,319 | -2,324 | -5,039 | -7,119 | -5,128 | -7,921 | -8,182 | -5,526 | -7,700 | -7,647 | -8,330 | -9,467 | -3,760 | -5,160 | -11,804 | |
75/76B |
107 | 7 | - | 0 | - | - | - | - | - | - | - | 6 | - | 97 | 1 | 1 | 101 | |
75 |
107 | 7 | - | 0 | - | - | - | - | - | - | - | 6 | - | 97 | 1 | 1 | 101 | |
65/66B |
1,938 | 2,411 | 2,841 | 3,296 | 3,634 | 4,047 | 4,378 | 4,707 | 5,024 | 5,343 | 5,579 | 5,870 | 6,090 | 6,338 | 6,550 | 6,806 | 8,185 | |
65 |
1,938 | 2,411 | 2,841 | 3,296 | 3,634 | 4,047 | 4,378 | 4,707 | 5,024 | 5,343 | 5,579 | 5,870 | 6,090 | 6,338 | 6,550 | 6,806 | 8,185 | |
9903 |
28,325 | -4,419 | -4,160 | -5,620 | -8,674 | -11,167 | -9,506 | -12,628 | -13,205 | -10,869 | -13,279 | -13,510 | -14,420 | -15,708 | -10,308 | -11,965 | -19,888 | |
67/77 |
5 | 1 | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
9904 |
28,320 | -4,420 | -4,160 | -5,620 | -8,674 | -11,167 | -9,506 | -12,628 | -13,205 | -10,869 | -13,279 | -13,510 | -14,420 | -15,708 | -10,308 | -11,965 | -19,888 | |
9905 |
28,320 | -4,420 | -4,160 | -5,620 | -8,674 | -11,167 | -9,506 | -12,628 | -13,205 | -10,869 | -13,279 | -13,510 | -14,420 | -15,708 | -10,308 | -11,965 | -19,888 | |
| Appropriation of the result | ||||||||||||||||||
9906 |
-151,006 | -179,326 | -174,907 | -170,746 | -165,127 | -156,453 | -145,287 | -135,781 | -123,153 | -109,948 | -99,079 | -85,800 | -72,289 | -57,869 | -42,161 | -31,853 | -19,888 | |
14P |
-179,326 | -174,907 | -170,746 | -165,127 | -156,453 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Document | ||||||||||||||||||
The notes to these accounts have 7 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.
Source: Annual accounts 2025 at the NBB, filed on 31-08-2026.
2025 annual accounts filed 31 days after the deadline. Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00506340.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00506340 | |
| 31-12-2024 | unclassified schema | 01-09-2025 | 2025-00486025 | |
| 31-12-2023 | unclassified schema | 30-08-2024 | 2024-00431267 | |
| 31-12-2022 | unclassified schema | 24-08-2023 | 2023-00355141 | |
| 31-12-2021 | unclassified schema | 30-08-2022 | 2022-20381673 | |
| 31-12-2020 | unclassified schema | 31-08-2021 | 2021-60800007 | |
| 31-12-2019 | abbreviated format | 30-09-2020 | 2020-57100600 | |
| 31-12-2018 | abbreviated format | 26-07-2019 | 2019-38700161 | |
| 31-12-2017 | abbreviated format | 22-08-2018 | 2018-48100226 | |
| 31-12-2016 | abbreviated format | 24-08-2017 | 2017-46900528 | |
| 31-12-2015 | full format | 27-06-2016 | 2016-22400150 | |
| 31-12-2014 | full format | 28-08-2015 | 2015-50000540 | |
| 31-12-2013 | full format | 27-08-2014 | 2014-49400347 | |
| 31-12-2012 | full format | 30-08-2013 | 2013-52000435 | |
| 31-12-2011 | full format | 30-07-2012 | 2012-35400231 | |
| 31-12-2010 | full format | 26-08-2011 | 2011-44500112 | |
| 31-12-2009 | full format | 16-08-2010 | 2010-41400035 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 44,525 | 12,360 | 12,730 | 12,962 | 10,240 | 8,109 | 10,628 | 8,651 | 8,833 | 10,554 | 8,380 | 7,747 | 6,969 | 3,871 | 7,770 | 5,584 | 1,852 | ||
| 42,689 | 9,955 | 9,888 | 9,667 | 6,606 | 4,062 | 6,251 | 3,943 | 3,809 | 5,211 | 2,801 | 1,883 | 879 | -2,370 | 1,222 | -1,222 | -6,232 | ||
| 0 | 1,634 | 0 | 2,685 | 0 | 540 | 0 | 2,816 | 18,686 | 0 | 11,358 | 472 | 26,057 | 36,161 | 15,234 | 29,026 | 213,339 | ||
| 1,278 | 2,033 | 893 | 89 | -283 | -301 | 281 | 317 | -1,374 | 1,283 | -96 | -422 | 612 | -3,023 | 2,004 | -925 | - | ||
| -162,754 | -203,351 | -203,131 | -204,954 | -204,308 | -203,707 | -200,418 | -200,244 | -195,290 | -175,334 | -175,116 | -161,442 | -156,342 | -152,215 | -137,413 | -119,327 | -97,312 | ||
| - | - | - | - | - | - | - | - | - | - | -35.0% | -59.7% | - | - | -25.9% | -49.5% | - | ||
| -121.9% | -125.0% | -112.2% | -100.7% | -89.6% | -77.0% | -64.9% | -56.2% | -47.1% | -41.2% | -34.0% | -27.8% | -21.0% | -15.9% | -10.5% | -6.0% | -6.6% | ||
| 0.04 | 0.03 | 0.02 | 0.01 | 0.01 | 0.01 | 0.02 | 0.01 | 0.00 | 0.01 | 0.00 | 0.01 | 0.01 | 0.02 | 0.02 | 0.01 | 0.02 | ||
| 26.1% | -3.4% | -3.0% | -3.7% | -5.3% | -6.2% | -4.9% | -6.1% | -6.0% | -4.9% | -5.6% | -5.6% | -5.6% | -6.4% | -4.6% | -5.5% | -9.9% | ||
| 22.97 | 5.13 | 4.48 | 3.93 | 2.82 | - | - | - | - | - | - | - | - | - | - | - | - | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 days | 1 day | 1 day | ||
| - | 0 days | - | 5 days | 3 days | 87 days | 33 days | 0 days | 952 days | 115 days | 30 days | 56 days | - | - | 217 days | 574 days | 514 days |
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.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €0 | €1,634 | €0 | €2,685 | - |
| €14,369 | €14,375 | €14,048 | €15,286 | €15,280 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a profit of €30,157, after a loss of €2,015 in 2024. It is the highest result since 2009.
Equity is negative. Debt (€241,003) exceeds the balance-sheet total (€108,597).
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Waldergasse, Dürler 7 registered office 4790 Burg-Reuland 68110 Buying and selling of own real estate | 28-10-2008 | 2.174.404.260 |
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