Active BE 0781.370.632Private limited company

Vision Mutatio

Stationsstraat 14 ·9220 Hamme (Vl.), Belgium· 4 yrs active

Sector: Advertising agencies (73110)

Conclusion Checked

Vision Mutatio has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10k and a net result of €6k. Equity is shrinking by ~24.6% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 30% of 6794 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).

Based on the State Gazette, CBE and 4 annual accounts.

Key figures

Equity	€10k
Net result	€6k
Better than sector	30%
Active	4 yrs

Financial profile 5 of 5 axes measured · computed by Checked

73 / 100

Strong profile, led by profitability.

All 5 axes are computed from data Checked has read.

Health 86

Profitability 100

Solvency 53

Growth 32

Stability 94

Bankruptcy probability (12 mo) Checked model v1 · free

1.3% Low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

More than 3 years active

Founded in 2022, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2025 · computed

86 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€1k

estimate, not credit advice

Score history

85 2022

93 2023

27 2024

86 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 1.40 (≥ 1.0) +5

Quick ratio Quick ratio 1.40 (≥ 1.0) +5

Profitability ROE 62% (≥ 10%) +10

Interest coverage Interest coverage 7.7× (≥ 3×) +8

Profit trend Net profit up YoY +5

Equity growth Equity growing YoY +3

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview4 NBB filings

Annual accounts filed on 30-07-2026 with the NBB · fiscal year 2025 · micro schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

declining At this pace, equity would indicatively turn negative around fiscal year 2028, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How 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).

Sector comparison

Fiscal year 2025 · NACE 73, Advertising, market research and public relations activities · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	28.5%	54.7%	better than 30% of 6794 sector peers
Net result	€6k	€14k	better than 39% of 6794 sector peers
Equity	€10k	€61k	better than 20% of 6799 sector peers
Gross operating margin	€10k	€37k	better than 27% of 6786 sector peers
Total assets	€33k	€139k	better than 15% of 6798 sector peers

EBITDA

€8k

- 22-25

Net profit

€6k

- 22-25

Cash flow

€7k

- 22-25

Total assets

€33k

+97.7% 22-25

Equity

€10k

+164.7% 22-25

Working capital

€9k

+163.9% 22-25

Income taxes

€153

-0.6% 22-25

Debt

€24k

+79.6% 22-25

Debt ≤ 1y

€23k

+85.8% 22-25

Current ratio

1.40

+9.3% 22-25

Quick ratio

1.40

+9.3% 22-25

Solvency

28.5%

+33.9% 22-25

Debt / equity

2.50

-32.2% 22-25

ROE

62.2%

- 22-25

ROA

17.8%

- 22-25

Interest coverage

7.69

- 22-25

Figures by fiscal year and ratios

Change versus the prior fiscal year, coloured by direction (green = favourable).

Fiscal year	2025 Δ	2024 Δ	2023 Δ	2022 Δ
Deposit	micro schema	micro schema	micro schema	micro schema
Revenue	-	-	-	-
EBITDA	-	-	-	-
Net profit	-	-	-59.7%	-
Cash flow	-	-	-	-
Staff costs	-	-	-	-
Income taxes	-0.6%	-90.2%	-46.4%	-
Dividends	-	-	-	-
Total assets	+97.7%	-44.0%	+9.3%	-
Equity	+164.7%	-80.2%	+31.5%	-
Debt	+79.6%	+10.9%	-13.0%	-
of which ≤ 1y	+85.8%	+2.6%	-13.0%	-
of which > 1y	-	-	-	-
Working capital	+163.9%	-78.5%	+17.6%	-
Employees (FTE)	-	-	-	-

Ratios (computed)

	2025	2024	2023	2022
Current ratio	1.40	1.28	2.36	2.00
Quick ratio	1.40	1.28	2.36	2.00
Working capital ratio	27.5%	20.6%	53.9%	50.1%
Solvency	28.5%	21.3%	60.3%	50.1%
Debt / equity	2.50	3.69	0.66	1.00
Long-term debt ratio	-	-	-	-
Interest coverage	7.69	-9.69	4.75	-
Gross margin	-	-	-	-
Net margin	-	-	-	-
ROA	17.8%	-86.2%	14.5%	39.2%
ROE	62.2%	-404.2%	24.0%	78.3%
EBITDA margin	-	-	-	-
Days sales outstanding	-	-	-	-
Days payable outstanding	-	-	-	-
Inventory turnover	-	-	-	-
Days inventory (DSI)	-	-	-	-

Balance-sheet composition 2025

Assets

Fixed assets €1k · 4.1% Current assets €32k · 95.9%

Equity & liabilities

Equity €10k · 28.5% Debt €24k · 71.5%

Full annual accounts (22 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022
Balance sheet, Assets
TOTAL ASSETS	20/58	€33k	€17k	€30k	€28k
Fixed assets	21/28	€1k	€1k	€2k	-
Tangible fixed assets	22/27	€1k	€1k	€2k	-
Current assets	29/58	€32k	€16k	€28k	€28k
Amounts receivable within one year	40/41	€18k	€3k	€9k	€15k
Cash & bank	54/58	€13k	€10k	€18k	€12k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€33k	€17k	€30k	€28k
Equity	10/15	€10k	€4k	€18k	€14k
Contributions / capital	10/11	€3k	€3k	€3k	€3k
Reserves	13	€612	€612	€15k	€11k
Accumulated profits (losses)	14	€6k	-	-	-
Amounts payable	17/49	€24k	€13k	€12k	€14k
Amounts payable within one year	42/48	€23k	€12k	€12k	€14k
Trade debts payable within one year	44	€8k	€574	€5k	€2k
Income statement
Gross operating margin	9900	€10k	€-12k	€9k	€15k
Operating result	9901	€7k	€-13k	€8k	€15k
Financial income	75	€3	€2	€0	-
Financial charges	65	€1k	€1k	€2k	€1k
Result before taxes	9903	€6k	€-14k	€6k	€14k
Income taxes	67/77	€153	€154	€2k	€3k
Net result for the period	9904	€6k	€-15k	€4k	€11k
Result to be appropriated	9905	€6k	€-15k	€4k	€11k

Legal Structure

NACE primary	Advertising agencies(73110)
Legal form	Private limited company(610)
Incorporation	31-01-2022
Status	Active
Postal code	9220

Establishment units 1 location

Vision Mutatio

Stationsstraat 14, 9220 Hamme (Vl.)Advertising agencies

since 20222.327.409.585

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
42452B0694/00S004	Flanders	242 m²	1 · 195 m²	15.0 m · 3 fl.

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 5 events

All 7Financial 2Gazette 1Filings 4

Next filing, fiscal year 2026, expected by 31-07-2027

2026

30-07

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

31-12

Financial Back to profitnet €6k

Net result €6k after one loss-making year.

14-08

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 14 days late

2024

31-12

Financial Weakest financial yearnet €-15k ▼434%

Net result drops to €-15k, the lowest in the series; recovery starts the following year.

25-06

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

22-06

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

08-03

State Gazette act Registered-office change

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 2 acts read

We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 1 acts

Address history · 1

08-03-2023

Registered-office move

All acts · 1 updated 3 years ago

2023

08-03-2023 Registered office moved from Hemiksem to Hamme Registered-office change

Oxfordstraat 4-2620 Hemiksem → Stationsstraat 14, 9220 Hamme

Original publication ↗

Technical details

{
  "events": [
    {
      "kind": "zetel_transfer",
      "seat_type": "siege_social",
      "new_address": {
        "raw": "Stationsstraat 14, 9220 Hamme",
        "city": "Hamme",
        "region": "vlaams_gewest",
        "street": "Stationsstraat",
        "country": "BE",
        "postcode": "9220",
        "box_number": null,
        "street_number": "14",
        "locality_suffix": null
      },
      "old_address": {
        "raw": "Oxfordstraat 4-2620 Hemiksem",
        "city": "Hemiksem",
        "region": "vlaams_gewest",
        "street": "Oxfordstraat",
        "country": "BE",
        "postcode": "2620",
        "box_number": null,
        "street_number": "4",
        "locality_suffix": null
      },
      "effective_date": "2023-01-07",
      "evidence_quote": "",
      "region_changed": false,
      "is_statute_change": true,
      "nationality_change": false,
      "old_address_source": "header_volledig_adres",
      "statute_clause_text": null,
      "statute_article_number": null,
      "effective_date_qualifier": "absolute",
      "statutaire_vs_werkelijke": null,
      "linguistic_region_changed": false,
      "court_jurisdiction_changed": false,
      "effective_date_is_approximate": false
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": null,
    "is_associated": false
  },
  "act_meta": {
    "language": "nl",
    "pub_date": "2023-03-08",
    "filing_date": "2023-02-23",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decision": {
    "body": "enig_aandeelhouder_schriftelijk",
    "date": "2023-01-07",
    "unanimous": null
  },
  "subject_company": {
    "kbo": "0781.370.632",
    "name_full": "Vision Mutatio",
    "legal_form": "BV"
  },
  "publication_proxy": {
    "kind": "org",
    "org_kbo": "0423.300.179",
    "org_name": "Anacc Fiduciaire BV",
    "person_name": null,
    "org_rep_person_name": "Nastassja Peeters",
    "person_role_at_subject": null
  },
  "co_filed_documents": []
}

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Advertising agencies73110Holdings64200Activities of holding companies64210Buying and selling of own real estate68110Renting and operating of own or leased non-residential real estate, excluding land68203Other business support services82990

Names & trade names

Legal nameNL

Vision Mutatio

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