VIRTEX SIMULATION
ActiveFrom the official registers: KBO 1 annual account at the National Bank publications in the Belgian Official Gazette
Summary
VIRTEX SIMULATION has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €436,968 and a net result of -€213,034. Its solvency ranks better than 15% of 21,130 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
KBO- Status
- Active since 22-10-2024 Normal situation
- Registered office
- 13 active companies are registered at this address 2 started in the 12 months before. Source: KBO register, as of 1 November 2026.
- Activity
- Computer programming NACE 62100and 4 others
- Establishment unit
- 2.366.211.664 4970 Stavelot, since 22-10-2024
- Financial year end
- 31 December
- Peppol
- Reachable since 17-07-2025
Board and ownership
Board
- OVERCUTDaily manager · permanent representative Julien Gillard
- Brian TaylorDirector · since 18-12-2024
- SPARAXISDirector · since 10-09-2025 · permanent representative Léopold COLSON
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
Annual accounts 2025
- Gross margin
- -€144,594
- Loss
- €213,034
- Equity
- €436,968
- Total assets
- €4.2m
- Staff
- 1.6 FTE
Turnover not published (micro format)
Filed on 28-09-2026, 59 days after the deadlineat the National Bank
Score breakdownraises riskLast filed accounts filed 59 days late; 1 of the last 3 accounts latelowers riskSize: total assets €4.2mSector: Computer programming, consultancy and related activities (NACE 62)Figures for financial year 2025 (filed on 30-09-2026)Show the evidence
Checked score
Score 2025
92
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 37% of small companies in computer programming and consultancy (NACE 62)
Financial strength
Weak
Solvency
35
equity 10.3% of total assets
Liquidity
69
short-term debt 15.8% · cash 18.0%
Profitability
12
return on assets -5.0%
Bankruptcy probability within 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2025: 0.4%
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.4%● unchanged vs 12-2025
02-2026: 0.4%● unchanged vs 01-2026
03-2026: 0.4%● unchanged vs 02-2026
04-2026: 0.4%● unchanged vs 03-2026
05-2026: 0.4%● unchanged vs 04-2026
06-2026: 0.5%▲ +0.1 percentage points vs 05-2026
07-2026: 0.5%● unchanged vs 06-2026
08-2026: 0.5%● unchanged vs 07-2026
09-2026: 0.6%▲ +0.1 percentage points vs 08-2026highest value
10-2026: 0.1%▼ -0.5 percentage points vs 09-2026lowest value
Credit of up to €40,000 on 30-day terms, only on tighter conditions: young company (under 3 years) without a track record
Liquidity is ample, with a current ratio of 1.95, above the usual 1.5. Short-term debt is 15.8% and cash 18% of total assets. However, 89.7% of the assets are financed with debt and provisions.
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 62, small). It does better than 17% of them on solvency, 82% on liquidity and 12% on profitability.
The bankruptcy probability was computed on 31-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
lowers riskraises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 21130 sector peers (2025).
NBB · sector comparisonPosition among 21130 sector peers
Solvency
better than 15%
← weakest
strongest →
raises risk · Young company
Founded in 2024, 2 years ago. Young companies fail more often than established ones; the risk is highest 2 to 8 years after founding.
KBO · incorporation dateAge against the risk zone
raises risk · 2025 accounts filed 59 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-09-2026, 59 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 1 filingDeviation from the deadline
2025
59 days late
← before the deadline
after the deadline →
Searched, nothing found (1)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 59 days after the deadline Filed on 28 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00531622.
Annual accounts 2025 filed on 28-09-2026 at the NBB
Equity
€436,968
Total assets
€4.2m
Net result
-€213,034
Working capital
€635,898
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
Assets €4.0m
Fixed assets
€2.6m
Current assets
€1.3m
Equity and liabilities €4.2m
Equity
€436,968
Debt
€3.8m
Debt's share of the balance-sheet total is 89.7%.
Key figures and ratios
EBITDA
-€177,740
Cash flow
-€169,670
Current ratio
1.95
Debt to equity
8.70
ROE
-48.8%
ROA
-5.0%
Interest coverage
-12.14
Debt ≤ 1 year
€669,400
Debt > 1 year
€3.1m
Staff costs
€32,129
Comparable companies
These companies have the same main activity as VIRTEX SIMULATION: computer programming (NACE 62100). They are comparable in size and age: total assets between €2.8m and €5.7m, founded between 2023 and 2024.
| Company | Founded | Total assets | Equity | Gross margin | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| VIRTEX SIMULATION Stavelot | 2024 | €4.2m | €0.4m | -€0.1m | -€0.2m | - | 2025 |
| DPPayroll Zaventem | 2024 | €3.7m | -€0.2m | -€0.08m | -€1.0m | 4.8 | 2025 |
| HEAVENTECH Elsene | 2024 | €3.6m | €1.9m | -€0.09m | -€1.1m | 7.9 | 2025 |
| XGL Xtended Services Global Sint-Niklaas | 2024 | €5.7m | €5.5m | -€0.5m | -€0.5m | - | 2025 |
| Dealside Gent | 2023 | €5.2m | €4.4m | -€0.4m | -€1.3m | 8.5 | 2025 |
| Warren Gent | 2024 | €2.8m | €2.4m | -€0.4m | -€0.7m | - | 2025 |
| Conveo.AI Antwerpen | 2024 | €2.9m | -€2.9m | -€2.7m | -€2.9m | 1 | 2025 |
They were chosen from the 9,111 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, 1,271 companies had the same profile as VIRTEX SIMULATION has now. Two years later, 4.1% had gone bankrupt and 93.5% were still going.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a small loss
4.1%
went bankrupt
2.0%
stopped otherwise
93.5%
was still going
Another 0.4% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of VIRTEX SIMULATION itself is lower: 0.1% within 12 months. It rests on far more data about VIRTEX SIMULATION 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 1,271 companies, not a prediction for VIRTEX SIMULATION. 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.
Annual accounts
| Line | 2025 |
|---|---|
| Remuneration, social security and pensions62 | €32,129 |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €43,363 |
| Other operating charges640/8 | €1,017 |
| Gross operating margin9900 | -€144,594 |
| Operating profit (loss)9901 | -€221,103 |
| Financial income75/76B | €22,705 |
| Recurring financial income75 | €22,705 |
| Financial charges65/66B | €14,636 |
| Recurring financial charges65 | €14,636 |
| Profit (loss) for the period before taxes9903 | -€213,034 |
| Profit (loss) for the period9904 | -€213,034 |
| Profit (loss) for the period to be appropriated9905 | -€213,034 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €4.2m | |
| Formation expenses20 | €0.3m | |
| Fixed assets21/28 | €2.6m | |
| Intangible fixed assets21 | €0.3m | |
| Tangible fixed assets22/27 | €2.3m | |
| Plant, machinery and equipment23 | €0.3m | |
| Furniture and vehicles24 | €0.01m | |
| Leasing and similar rights25 | €2.0m | |
| Other tangible fixed assets26 | €0.02m | |
| Current assets29/58 | €1.3m | |
| Amounts receivable within one year40/41 | €0.5m | |
| Trade receivables40 | €0.5m | |
| Other amounts receivable41 | €0.07m | |
| Cash at bank and in hand54/58 | €0.8m | |
| Deferred charges and accrued income490/1 | €0.01m | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €4.2m | |
| Equity10/15 | €0.4m | |
| Contributions10/11 | €0.7m | |
| Profit (loss) carried forward14 | -€0.2m | |
| Amounts payable17/49 | €3.8m | |
| Amounts payable after more than one year17 | €3.1m | |
| Financial debts170/4 | €2.9m | |
| Other amounts payable178/9 | €0.2m | |
| Amounts payable within one year42/48 | €0.7m | |
| Current portion of amounts payable after more than one year42 | €0.2m | |
| Trade debts44 | €0.4m | |
| Suppliers440/4 | €0.4m | |
| Taxes, remuneration and social security45 | €0.009m | |
| Taxes450/3 | €0.001m | |
| Remuneration and social security454/9 | €0.008m | |
| Other amounts payable47/48 | €53 | |
| Accrued charges and deferred income492/3 | €0.05m | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | -€213,034 |
| + Depreciation and write-downs630 | €43,363 |
| Operating cash flow (approximation) | -€169,670 |
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 | 28-09-2026 | 2026-00531622 | NBB |
Board & ownership
Directors
Directors
3 directors, 1 in day-to-day management, no change since 2025
Board 3
Brian Taylor
Current
Administrateur supplémentaire et non statutaire · since 18-12-2024 · listed in the 2025 annual accounts, filed on 28-09-2026
OVERCUT
Current
Director · appointed in the act of 08-08-2025 · Private limited company · permanent representative: Julien Gillard
SPARAXIS
Current
Director · since 10-09-2025 · Public limited company · permanent representative: Léopold COLSON · listed in the 2025 annual accounts, filed on 28-09-2026
Day-to-day management 1
OVERCUT
Current
Daily management delegate · appointed in the act of 08-08-2025 · Private limited company · permanent representative: Julien Gillard
Permanent representatives 2
Julien Gillard
Current
Permanent representative · appointed in the act of 08-08-2025 · for OVERCUT
Léopold COLSON
Current
Permanent representative · appointed in the act of 18-12-2025 · for SPARAXIS
Other functions 1
Brian Taylor
Current
Administrateur supplémentaire et non statutaire · appointed in the act of 17-01-2025
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“Septième résolution (L’assemblée générale reprécise pour autant que de besoin que l’organe d’administration est un organe collégial). La…”
deed of 17-01-2025Owners and capital
Shareholders
At incorporation
act of 25-10-2024 ↗
- GILLARD Julien Ruth Alain 64,051 shares (100%) · €50,000
Capital transactions
Capital over time
- 17-01-2025 Capital increase of €600,002 · to €650,002 · 10,034 new shares
- 25-10-2024 Incorporation · €50,000 · 64,051 shares
The directors' other companies
1 current director with another company that went bankrupt, was dissolved or struck off
8 other companies of this director went bankrupt (2025, 2026).
- SEE TELECOM bankruptcy on 08-07-2026Official Gazetteappointed in 2024, still in office
- Fonderies J. Marichal Ketin et Cie bankruptcy on 30-04-2026Official Gazetteappointed in 2024, still in office
- GALLER HOLDING bankruptcy on 24-04-2026Official Gazetteappointed in 2024, still in office
- VOCSens bankruptcy on 26-03-2026Official Gazette
- JR PEPINIERES RIGAUX SRL bankruptcy on 12-09-2025Official Gazetteappointed in 2023, still in office
- NOUKIES bankruptcy on 11-09-2025Official Gazetteappointed in 2024, still in office
- GALLER BOUTIQUES bankruptcy according to the KBO registerappointed in 2025, still in office
- LA CHOCOLATERIE GALLER bankruptcy according to the KBO registerappointed in 2025, still in office
Source: Belgian Official Gazette (bankruptcies, judicial dissolutions, board mandates), FPS Economy (strike-offs) and the KBO register. A bankruptcy, dissolution or strike-off says nothing about the director's part in it.
Mandate history
8 people, 3 in office
- Board
- Day-to-day management
- Other function
- began earlier
- end not dated
| Name | Functions and periods |
|---|---|
| Brian Taylor |
|
| OVERCUT |
|
| SPARAXIS |
|
| WALLIMAGE |
|
| Julien Gillard |
|
| Marwan Radi |
|
| Odile Malevé |
|
| GILLARD Julien Ruth Alain |
|
Articles of association
Board and representation
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Avec ou sans limitation de durée, un ou plusieurs administrateurs”
Capital, shares and profit
- Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
- “Nominatives, usufruitier et nu-propriétaire inscrits séparément avec droits respectifs”
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “S'informer des conditions éventuelles de transfert entre les actionnaires, §3 Transfert soumis à des conditions particulières”“Entre vifs ou pour cause de mort,sans agrément,à un actionnaire,au conjoint du cédant ou testateur,aux ascendants ou descendants en ligne…”
- Share issue ruleThe articles set how and by whom new shares are issued.
- “Apport en numéraire avec émission de nouvelles actions-Droit de préférence, courrier électronique,ou courrier ordinaire pour personnes sans…”
Audit, dissolution and liquidation
- Dissolution ruleThe articles set when and by whom the company can be dissolved.
- “Dissolution, peut être dissoute en tout temps”
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Assemblée générale peut désigner un ou plusieurs liquidateurs et déterminer pouvoirs et émoluments, Liquidateurs”
Articles of association, deed of 25-10-2024 (in French)
Network & group
Connections & network
9 connected companiesThis company
Company
Director
Shareholding
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Timeline
Acts, filings and financial milestones
2026
28-09
financial year 2025 · micro format · 59 days late
2025
18-12
Gazette deed
Resignation: WALLIMAGE (director)Appointment: SPARAXIS (director)3 points ▸
Gazette deed
Resignation: WALLIMAGE (director)
Appointment: SPARAXIS (director)3 points ▸
- General meeting, 21-11-2025
- Director resignation, WALLIMAGE (director)
- Director appointment, SPARAXIS (director)
08-08
Gazette deed
Resignation: Julien Gillard (director)Appointment: OVERCUT (director) · Permanent representative: Julien Gillard7 points ▸
Gazette deed
Resignation: Julien Gillard (director)
Appointment: OVERCUT (director) · Permanent representative: Julien Gillard7 points ▸
- General meeting, 04-07-2025
- Director resignation, Julien Gillard (director)
- Director appointment, OVERCUT (director)
- Board meeting, 04-07-2025
- Director resignation, Julien Gillard (daily management delegate)
- Director appointment, OVERCUT (daily management delegate)
- Permanent representative, Julien Gillard
10-03
Gazette deed
Resignation: Marwan Radi (director)1 point ▸
Gazette deed
Resignation: Marwan Radi (director)
1 point ▸
- Director resignation, Marwan Radi (director)
04-02
Gazette deed
Appointment: WALLIMAGE SA (director)Resignation: Odile Malevé (director) · Permanent representative: Odile Malevé · Correction6 points ▸
Gazette deed
Appointment: WALLIMAGE SA (director)
Resignation: Odile Malevé (director) · Permanent representative: Odile Malevé · Correction6 points ▸
- General meeting, 19-12-2024
- General meeting, 18-12-2024
- Director appointment, WALLIMAGE SA (director)
- Director resignation, Odile Malevé (director)
- Correction, “publication rectificative au moniteur belge, substitution d'administrateur” (deed in French)
- Permanent representative, Odile Malevé
17-01
Gazette deed
Appointments: Brian Taylor (administrateur supplémentaire et non statutaire) and Odile Malevé (administrateur supplémentaire et non statutaire)Capital increase · Capital contribution · Share issue14 points ▸
Gazette deed
Appointments: Brian Taylor (administrateur supplémentaire et non statutaire) and Odile Malevé (administrateur supplémentaire et non statutaire)
Capital increase · Capital contribution · Share issue14 points ▸
- Other provision, “registrations”, 1015.431.335 (deed in French)
- General meeting, 18-12-2024
- Capital increase, €600,002
- Other provision, “actionnaire unique, renonciation au droit de préférence” (deed in French)
- Capital contribution
- Share issue, 10034, “capitaux propres disponible” (deed in French)
- Amendment of the articles, 5
- Power of attorney
- Power of attorney, Pierre LEBON
- Director appointment, Brian Taylor (administrateur supplémentaire et non statutaire)
- Director appointment, Odile Malevé (administrateur supplémentaire et non statutaire)
- Director in office, M. Gillard (director)
- The act holds 2 more points.
2024
25-10
Gazette deed
IncorporationAppointments: GILLARD Julien Ruth Alain (director) and RADI Marwan (director) · Founder · Founding capital10 points ▸
Gazette deed
Incorporation
Appointments: GILLARD Julien Ruth Alain (director) and RADI Marwan (director) · Founder · Founding capital10 points ▸
- Incorporation, 18-10-2024
- Founder, GILLARD Julien Ruth Alain
- Founding capital, €50,000
- Capital
- Registered office clause, “4970 Francorchamps (Stavelot),route du Circuit 55” (deed in French)
- Board rule, 2, “assemblée” (deed in French)
- Director appointment, GILLARD Julien Ruth Alain (director)
- Director appointment, RADI Marwan (director)
- Other provision, “pourra agir seul dans le cadre de cette gestion, durée indéterminée” (deed in French)
- Pre-incorporation commitments, “takeover, Tous engagements et obligations en résultant,et toutes activités entreprises depuis le 2022-10-18 par l'un ou l'autre des comparants au nom et pour co…” (deed in French)
Gazette deedNBB filing
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
VIRTEX SIMULATION in French
Enterprise number
1015.431.335
Legal form
Private limited company
Status
Active, normale toestand
Founded
22-10-2024
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 25-10-2024 (in French)Name clauseThe company operates under this name according to its articles.
VIRTEX SIMULATION
deed of 25-10-2024 (in French)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Pour autant que sans changement de régime linguistique, Région wallonne”
deed of 25-10-2024 (in French)Registered office and establishments
Registered office
Route du Circuit 55, 4970 Stavelot, Belgium
Establishments
1 establishment unit since 2024
Activities
NACEBEL 202562100
Computer programming main activity
62200
Computer consultancy and computer facilities management
63100
Computing infrastructure, data processing, hosting and related activities
71121
Engineering and related technical consultancy, excluding land surveyors
74999
Other professional, scientific and technical activities
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 25-10-2024 (in French)
“La simulation de conduite ou toute autre simulation affiliée, dans un cadre d'entraînement ou de loisirs auprès d'une clientèle de…”
7 activities
- La simulation de conduite ou toute autre simulation affiliée, dans un cadre d'entraînement ou de loisirs auprès d'une clientèle de professionnels, de particuliers et d'entreprises
- La formation théorique et pratique des pilotes
- La location et mise à disposition de simulateurs de conduite
- La mise en place de stages, séminaires et visites pour particuliers ou professionnels
- L'organisation évènementielle de manifestations sportives interactives et de championnats, ainsi que la mise à disposition d'hébergements
- Prestation de conseils, services et formations relatifs à tout ce qui concerne les simulateurs de conduite
- La vente de produits et services dérivés
Invoicing and payment
VAT number
BE 1015.431.335
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Second Wednesday of June at 14:00
deed of 25-10-2024 (in French)Sites & property
Location
1 establishment unit
VIRTEX SIMULATION
since 2024unit number 2.366.211.664
Buildings and parcels at the address
Ground area
1,391 m²
Building footprint
39 m²
Building volume
245 m³
Parcel 63027B1856/00G000, Wallonia · tallest building 23.4 m.
1 parcel
Wallonia
1
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 63027B1856/00G000 | Wallonia | 1,391 m² | 1 · 39 m² | 23.4 m · 1 |