VILVOORDE DEVELOPMENT
ActiveSummary
VILVOORDE DEVELOPMENT has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€2.2m) and a net result of -€1.5m. Equity is shrinking by ~37.9% per year across the filed fiscal years. Its solvency ranks better than 7% of 4565 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability7▼-1
Solvency7▼-13
Growth32=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 20.52 against 25.88 in 2024; short-term debt: 4.9% of total assets), but equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-17.6%
Return on assets
-12.2%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€2.2m
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-07-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 d early
2024
30 d early
2023
33 d early
2022
20 d early
2021
26 d early
2020
47 d early
2019
29 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 29 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€1.5m▲ 6.7%
2024 · -€1.6m
Working capital
€11.9m▼ 9.5%
2024 · €13.1m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€501,337▲ 5.9%-€1.2m▼ 137%-€379,728▲ 68.0%-€1.1m▼ 177%-€916,896▲ 12.9%
Net result-€668,435▼ 0.5%-€1.5m▼ 127%-€942,354▲ 37.8%-€1.6m▼ 73.3%-€1.5m▲ 6.7%
Equity€3.4m▼ 16.3%€1.9m▼ 44.3%€963,841▼ 49.4%-€669,257-€2.2m▼ 228%
Total assets€12.2m▲ 25.2%€16.5m▲ 35.0%€13.7m▼ 17.0%€13.6m▼ 0.6%€12.5m▼ 8.5%
Debt€8.8m▲ 55.1%€14.6m▲ 65.7%€12.7m▼ 12.8%€14.3m▲ 12.2%€14.6m▲ 2.4%
Working capital€7.8m▼ 6.6%€15.0m▲ 91.6%€13.1m▼ 12.7%€13.1m▲ 0.2%€11.9m▼ 9.5%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €916,896 in 2025 against €1.1m in 2024; the loss shrinks.
Key figures and ratios
Solvency
-17.6%▼
2024 · -4.9%
Current ratio
20.52▼
2024 · 25.88
Quick ratio
0.06▼
2024 · 0.54
Debt to equity
-6.67▲
2024 · -21.37
ROA
-12.2%▼
2024 · -12.0%
Debt ≤ 1 year
€607,671▲
2024 · €526,663
Debt > 1 year
€14.0m▲
2024 · €13.7m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €176,938 | €173,469 | €449,684 | €96,281 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €429 | - | - | - | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €23,579 | - |
| Other operating charges640/8 | €1,657 | €1,747 | €3,447 | €17,065 | €8,984 | ▼ 47.4% |
| Gross operating margin9900 | -€499,250 | -€1.2m | -€376,281 | -€1.0m | -€884,333 | ▲ 14.6% |
| Operating profit (loss)9901 | -€501,337 | -€1.2m | -€379,728 | -€1.1m | -€916,896 | ▲ 12.9% |
| Financial income75/76B | - | €9 | - | €0 | €102 | ▲ 1,019,400% |
| Recurring financial income75 | - | €9 | - | €0 | €102 | ▲ 1,019,400% |
| Financial charges65/66B | €167,099 | €328,581 | €562,626 | €579,968 | €607,129 | ▲ 4.7% |
| Recurring financial charges65 | €167,099 | €328,581 | €562,626 | €579,968 | €607,129 | ▲ 4.7% |
| Profit (loss) for the period before taxes9903 | -€668,435 | -€1.5m | -€942,354 | -€1.6m | -€1.5m | ▲ 6.7% |
| Profit (loss) for the period9904 | -€668,435 | -€1.5m | -€942,354 | -€1.6m | -€1.5m | ▲ 6.7% |
| Profit (loss) for the period to be appropriated9905 | -€668,435 | -€1.5m | -€942,354 | -€1.6m | -€1.5m | ▲ 6.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €12.2m | €16.5m | €13.7m | €13.6m | €12.5m | ▼ 8.5% |
| Current assets29/58 | €12.2m | €16.5m | €13.7m | €13.6m | €12.5m | ▼ 8.5% |
| Stocks and contracts in progress3 | €12.1m | €16.0m | €13.5m | €13.3m | €12.4m | ▼ 6.8% |
| Stocks30/36 | €11.3m | €14.9m | €13.1m | €12.3m | €11.6m | ▼ 5.5% |
| Contracts in progress37 | €846,024 | €1.1m | €462,704 | €1.1m | €851,673 | ▼ 21.9% |
| Amounts receivable within one year40/41 | €110,272 | €473,490 | €162,483 | €285,125 | €34,632 | ▼ 87.9% |
| Trade receivables40 | €109,270 | €255,597 | €95,483 | €96,696 | €34,632 | ▼ 64.2% |
| Other amounts receivable41 | €1,002 | €217,892 | €67,000 | €188,429 | - | - |
| Deferred charges and accrued income490/1 | €7,448 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €12.2m | €16.5m | €13.7m | €13.6m | €12.5m | ▼ 8.5% |
| Equity10/15 | €3.4m | €1.9m | €963,841 | -€669,257 | -€2.2m | ▼ 228% |
| Contributions10/11 | €6.5m | €6.5m | €6.5m | €6.5m | €6.5m | = |
| Capital10 | €6.5m | €6.5m | €6.5m | €6.5m | €6.5m | = |
| Issued capital100 | €6.5m | €6.5m | €6.5m | €6.5m | €6.5m | = |
| Profit (loss) carried forward14 | -€3.1m | -€4.6m | -€5.5m | -€7.1m | -€8.7m | ▼ 21.3% |
| Provisions and deferred taxes16 | - | - | - | - | €23,579 | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | €23,579 | - |
| Other liabilities and charges164/5 | - | - | - | - | €23,579 | - |
| Amounts payable17/49 | €8.8m | €14.6m | €12.7m | €14.3m | €14.6m | ▲ 2.4% |
| Amounts payable after more than one year17 | €4.4m | €13.0m | €12.1m | €13.7m | €14.0m | ▲ 1.9% |
| Financial debts170/4 | €4.4m | €13.0m | €12.1m | €13.7m | €14.0m | ▲ 1.9% |
| Amounts payable within one year42/48 | €4.4m | €1.5m | €638,817 | €526,663 | €607,671 | ▲ 15.4% |
| Trade debts44 | €4.3m | €1.5m | €638,817 | €526,663 | €553,327 | ▲ 5.1% |
| Suppliers440/4 | €4.3m | €1.5m | €638,817 | €526,663 | €553,327 | ▲ 5.1% |
| Advances received on contracts in progress46 | €840 | - | - | - | - | - |
| Taxes, remuneration and social security45 | €83,577 | €52,281 | - | - | €54,345 | - |
| Taxes450/3 | €83,577 | €52,281 | - | - | €54,345 | - |
| Accrued charges and deferred income492/3 | €40,625 | €65,036 | €47,250 | €27,500 | €24,750 | ▼ 10.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€668,435 | -€1.5m | -€942,354 | -€1.6m | -€1.5m | ▲ 6.7% |
| + Depreciation and write-downs630 | €429 | - | - | - | - | - |
| Operating cash flow (approximation) | -€668,006 | -€1.5m | -€942,354 | -€1.6m | -€1.5m | ▲ 6.7% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet -€1.6m
Net result drops to -€1.6m, the lowest in the series; recovery starts the following year.
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
11-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Liquidity quadruplescurrent ratio 10.74
Current ratio from 2.77 to 10.74; short-term debt falls from €4.4m to €1.5m.
05-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
14-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Liquidity times 10current ratio 14.77
Current ratio from 1.50 to 14.77; short-term debt falls from €9.9m to €604,479.
10-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
13-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 21 acts read
About the unread acts
We know of 21 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
21 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Grimbergen · 1 establishment unit since 2013
Ground area
1,217 m²
Parcel 23403G0221/00K003, Flanders. Linked by address, not a title deed.
1 establishment unit
VILVOORDE DEVELOPMENT
since 20132.216.143.855
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23403G0221/00K003indicative | Flanders | 1,217 m² | - | - |
Linked by address, not proof of ownership
Good to know
0 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 9,698 companies in sector 68121 we hold annual accounts for 7,385. 3,975 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded22-01-2013
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68201Renting and operating of own or leased residential real estate, excluding social housing
Scores and ratios are computed by Checked and are not a credit decision.