VISAM
ActiveSummary
VISAM has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€5,169) and a net result of €359. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 26% of 1856 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability69▲+69
Solvency20▲+9
Growth32=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.04 against 0.05 in 2023; short-term debt: 105% and cash: 0.4% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 2024Solvency, return and age of the figures
Solvency
-5%
Return on assets
0.3%
Age of the figures
21 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 55
Relative position
BE, all sectors
reference
Accommodation (NACE 55)
about 6% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-05-2025, 69 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
69 d early
2023
23 d late
2022
207 d late
2021
31 d late
2020
61 d late
2019
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 47 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 45% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
-€5,169▲ 6.5%
2023 · -€5,528
Total assets
€102,605▲ 164%
2023 · €38,808
Net result
€359
2023 · -€39,349
Working capital
-€103,828▼ 148%
2023 · -€41,913
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 55, Accommodation, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€30,239▼ 45.0%€172,314-€16,471-€36,713▼ 123%€1,056
Net result-€31,360below the sector's middle half▼ 48.1%€170,101above the sector's middle half-€16,735below the sector's middle half-€39,349below the sector's middle half▼ 135%€359within the sector's middle half
Equity€15,353within the sector's middle half▼ 67.1%€50,556within the sector's middle half▲ 229%€33,821within the sector's middle half▼ 33.1%-€5,528within the sector's middle half-€5,169within the sector's middle half▲ 6.5%
Total assets€90,829below the sector's middle half▼ 26.8%€66,165below the sector's middle half▼ 27.2%€56,905below the sector's middle half▼ 14.0%€38,808below the sector's middle half▼ 31.8%€102,605below the sector's middle half▲ 164%
Debt€8,836▼ 18.3%€15,609▲ 76.7%€23,084▲ 47.9%€44,336▲ 92.1%€107,774▲ 143%
Working capital€14,464within the sector's middle half▼ 51.8%-€1,301within the sector's middle half-€18,036within the sector's middle half▼ 1,286%-€41,913within the sector's middle half▼ 132%-€103,828within the sector's middle half▼ 148%
Solvency16.9%within the sector's middle half▼ 20.7pp76.4%above the sector's middle half▲ 59.5pp59.4%above the sector's middle half▼ 17.0pp-14.2%below the sector's middle half▼ 73.7pp-5.0%within the sector's middle half▲ 9.2pp
Current ratio2.64above the sector's middle half▼ 1.140.92within the sector's middle half▼ 1.720.22within the sector's middle half▼ 0.700.05below the sector's middle half▼ 0.160.04below the sector's middle half▼ 0.02
Return on assets (ROA)-34.5%below the sector's middle half▼ 17.5pp257.1%above the sector's middle half▲ 291.6pp-29.4%below the sector's middle half▼ 286.5pp-101.4%below the sector's middle half▼ 72.0pp0.3%within the sector's middle half▲ 101.7pp
Staff (FTE)1
above
within
below
the middle half (P25 to P75) of NACE 55, Accommodation, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €1,056 after a loss of €36,713 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €102,605
Fixed assets
€98,658 ▲ 171%
Current assets
€3,947 ▲ 62.9%
Key figures and ratios
EBITDA
€13,556▲
2023 · -€21,241
Cash flow
€12,860▲
2023 · -€23,877
Quick ratio
0.02▼
2023 · 0.05
Debt to equity
-20.85▼
2023 · -8.02
Interest coverage
16.57▲
2023 · -189.65
Debt ≤ 1 year
€107,774▲
2023 · €44,336
Income taxes
-€121▼
2023 · €2,527
Staff costs
€3,101
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,448 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 92% are still going.
- Micro
- 20 years or older
- negative equity
- a profit under 5% of the balance sheet
2.1%
went bankrupt
4.8%
stopped otherwise
92%
still going
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,448 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €3,101 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,793 | €15,672 | - | €15,472 | €12,501 | ▼ 19.2% |
| Other operating charges640/8 | - | €5,852 | €6,206 | €6,676 | €5,813 | ▼ 12.9% |
| Gross operating margin9900 | -€8,456 | €193,838 | -€10,265 | -€14,565 | €22,470 | ▲ 254% |
| Operating profit (loss)9901 | -€30,239 | €172,314 | -€16,471 | -€36,713 | €1,056 | ▲ 103% |
| Financial income75/76B | - | €4 | - | €3 | €1 | ▼ 78.0% |
| Recurring financial income75 | €22 | €4 | - | €3 | €1 | ▼ 78.0% |
| Financial charges65/66B | - | €269 | €264 | €112 | €818 | ▲ 630% |
| Recurring financial charges65 | €977 | €269 | €264 | €112 | €818 | ▲ 630% |
| Profit (loss) for the period before taxes9903 | -€31,194 | €172,049 | -€16,735 | -€36,822 | €238 | ▲ 101% |
| Income taxes67/77 | €166 | €1,948 | - | €2,527 | -€121 | ▼ 105% |
| Profit (loss) for the period9904 | -€31,360 | €170,101 | -€16,735 | -€39,349 | €359 | ▲ 101% |
| Profit (loss) for the period to be appropriated9905 | -€31,360 | €170,101 | -€16,735 | -€39,349 | €359 | ▲ 101% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €90,829 | €66,165 | €56,905 | €38,808 | €102,605 | ▲ 164% |
| Fixed assets21/28 | €67,529 | €51,857 | €51,857 | €36,385 | €98,658 | ▲ 171% |
| Tangible fixed assets22/27 | €67,529 | €51,857 | €51,857 | €36,385 | €98,658 | ▲ 171% |
| Land and buildings22 | - | €51,857 | €51,857 | €36,385 | €85,202 | ▲ 134% |
| Furniture and vehicles24 | - | - | - | - | €13,456 | - |
| Current assets29/58 | €23,300 | €14,308 | €5,048 | €2,423 | €3,947 | ▲ 62.9% |
| Stocks and contracts in progress3 | - | - | - | - | €1,578 | - |
| Stocks30/36 | - | - | - | - | €1,578 | - |
| Amounts receivable within one year40/41 | €2,465 | €1,017 | €2,813 | €1,023 | €1,361 | ▲ 33.1% |
| Trade receivables40 | - | €958 | €1,494 | €1,023 | €1,361 | ▲ 33.1% |
| Other amounts receivable41 | - | €59 | €1,319 | - | - | - |
| Cash at bank and in hand54/58 | €20,835 | €13,291 | €2,235 | €1,400 | €395 | ▼ 71.8% |
| Deferred charges and accrued income490/1 | - | - | - | - | €612 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €90,829 | €66,165 | €56,905 | €38,808 | €102,605 | ▲ 164% |
| Equity10/15 | €15,353 | €50,556 | €33,821 | -€5,528 | -€5,169 | ▲ 6.5% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | - | €6,200 | €6,200 | - | - | - |
| Issued capital100 | - | €18,600 | €18,600 | - | - | - |
| Uncalled capital101 | - | €12,400 | €12,400 | - | - | - |
| Reserves13 | €145,797 | €44,356 | €44,356 | €44,356 | €44,356 | = |
| Non-distributable reserves130/1 | - | €1,720 | €1,720 | €1,720 | €1,720 | = |
| Legal reserve130 | - | €1,720 | €1,720 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,720 | €1,720 | = |
| Tax-exempt reserves132 | - | €3,048 | €3,048 | €3,048 | €3,048 | = |
| Distributable reserves133 | - | €39,588 | €39,588 | €39,588 | €39,589 | = |
| Profit (loss) carried forward14 | -€136,644 | - | -€16,735 | -€56,084 | -€55,725 | ▲ 0.6% |
| Provisions and deferred taxes16 | €66,640 | - | - | - | - | - |
| Amounts payable17/49 | €8,836 | €15,609 | €23,084 | €44,336 | €107,774 | ▲ 143% |
| Amounts payable within one year42/48 | €8,836 | €15,609 | €23,084 | €44,336 | €107,774 | ▲ 143% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €23,552 | - |
| Trade debts44 | €8,376 | €9,949 | €1,908 | €19,695 | €25,470 | ▲ 29.3% |
| Suppliers440/4 | - | €9,949 | €1,908 | €19,695 | €25,470 | ▲ 29.3% |
| Taxes, remuneration and social security45 | - | €2,293 | - | €580 | €924 | ▲ 59.3% |
| Taxes450/3 | - | €2,293 | - | €580 | €382 | ▼ 34.2% |
| Remuneration and social security454/9 | - | - | - | - | €542 | - |
| Other amounts payable47/48 | - | €3,367 | €21,176 | €24,061 | €57,828 | ▲ 140% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€31,360 | €170,101 | -€16,735 | -€39,349 | €359 | ▲ 101% |
| + Depreciation and write-downs630 | €15,793 | €15,672 | - | €15,472 | €12,501 | ▼ 19.2% |
| Operating cash flow (approximation) | -€15,567 | €185,773 | -€16,735 | -€23,877 | €12,860 | ▲ 154% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€74,774 | - |
| Change in cash | - | -€7,544 | -€11,056 | -€835 | -€1,005 | ▼ 20.3% |
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
2025
23-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €359
Net result €359 after 2 loss-making years.
23-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 23 days late
23-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 207 days late
2023
31-12
Financial
Weakest financial yearnet -€39,349
Net result drops to -€39,349, the lowest in the series; recovery starts the following year.
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Back to profitnet €170,101
Net result €170,101 after 2 loss-making years.
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 61 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
17-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 17 days late
2017
09-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 9 days late
2016
25-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Frasnes-lez-Anvaing · 1 establishment unit since 2006
Ground area
6,279 m²
Building footprint
481 m²
Volume, LiDAR
1,013 m³
2 parcels, Wallonia · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
visam sprl
since 20062.151.830.677
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 51046B0205/00D000 | Wallonia | 5,267 m² | 1 · 317 m² | - |
| 51012A0345/00B002 | Wallonia | 1,013 m² | 1 · 165 m² | 7.9 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 3,007 companies in sector 55203 we hold annual accounts for 694. 475 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded18-05-2004
Fiscal year end31-12
Activities, NACEBEL 2025
55203Holiday cottages, homes and apartments
E-invoicing
Reachable via Peppol
Peppol ID
0208:0865365110
Also
9925:BE0865365110
Registered
30-01-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.