VISTAZ
ActiveVISTAZ has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €795k and a net result of €-588k. Equity is growing by ~13.5% per year across the filed fiscal years. Its solvency ranks better than 30% of 7719 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
42
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-72
Solvency53▼-21
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days only on tighter terms
Liquidity tight (current ratio 1.39 against 1.99 in 2024; short-term debt: 44.9% and cash: 4.4% of total assets), and 72.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 01-04-2026, 29 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
29 d early
2024
30 d early
2023
14 d early
2022
25 d early
2021
9 d early
2020
28 d early
2019
23 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
19-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€795k▼ 42.5%
2024 · €1.38M
2019: €514k
2020: €646k
2021: €1.24M
2022: €1.44M
2023: €1.60M
2024: €1.38M
2019 → 2025
Total assets
€2.87M▲ 2.2%
2024 · €2.81M
2019: €1.75M
2020: €2.04M
2021: €2.51M
2022: €3.78M
2023: €3.61M
2024: €2.81M
2019 → 2025
Net result
€-588k
2024 · €84k
2019: €4k
2020: €133k
2021: €594k
2022: €650k
2023: €157k
2024: €84k
2019 → 2025
Working capital
€502k▼ 60.3%
2024 · €1.26M
2019: €563k
2020: €626k
2021: €1.07M
2022: €1.19M
2023: €1.34M
2024: €1.26M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.24M-€1.44M▲ 16.2%€1.60M▲ 10.9%€1.38M▼ 13.5%€795k▼ 42.5%
Operating result€805k-€909k▲ 12.9%€240k▼ 73.6%€154k▼ 35.8%€-524k
Net result€594k-€650k▲ 9.5%€157k▼ 75.9%€84k▼ 46.2%€-588k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €524k after €154k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.87M
Fixed assets
€1.08M▲ 301%
Current assets
€1.79M▼ 29.5%
Equity and liabilities €2.87M
Equity
€795k▼ 42.5%
Debt
€2.08M▲ 45.6%
The debt ratio rises from 50.8% to 72.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-350k▼
2024 · €228k
Cash flow
€-414k▼
2024 · €159k
Solvency
27.7%▼
2024 · 49.2%
Current ratio
1.39▼
2024 · 1.99
Quick ratio
1.08▼
2024 · 1.67
Debt / equity
2.61▲
2024 · 1.03
ROE
-74.0%▼
2024 · 6.1%
ROA
-20.5%▼
2024 · 3.0%
Interest coverage
-5.40▼
2024 · 5.96
Debt
€2.08M▲
2024 · €1.43M
Debt ≤ 1 year
€1.29M▲
2024 · €1.27M
Debt > 1 year
€787k▲
2024 · €101k
Income taxes
€726▼
2024 · €35k
Staff costs
€1.29M▼
2024 · €1.59M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€2.81M€2.87M▲
Fixed assets21/28€269k€1.08M▲
Intangible fixed assets21€19k€11k▼
Tangible fixed assets22/27€250k€1.07M▲
Plant, machinery and equipment23€82k€36k▼
Furniture and vehicles24€98k€59k▼
Leasing and similar rights25-€909k
Other tangible fixed assets26€70k€66k▼
Financial fixed assets28€81€81=
Current assets29/58€2.54M€1.79M▼
Stocks and contracts in progress3€409k€397k▼
Stocks30/36€28k€184k▲
Contracts in progress37€381k€213k▼
Amounts receivable within one year40/41€1.43M€1.23M▼
Trade receivables40€1.29M€1.16M▼
Other amounts receivable41€139k€75k▼
Cash at bank and in hand54/58€639k€125k▼
Deferred charges and accrued income490/1€58k€37k▼
Equity and liabilities
Total equity and liabilities10/49€2.81M€2.87M▲
Equity10/15€1.38M€795k▼
Contributions10/11€510k€510k=
Capital10€510k€510k=
Issued capital100€510k€510k=
Reserves13€54k€54k=
Non-distributable reserves130/1€51k€51k=
Legal reserve130€51k€51k=
Distributable reserves133€3k€3k=
Profit (loss) carried forward14€818k€230k▼
Amounts payable17/49€1.43M€2.08M▲
Amounts payable after more than one year17€101k€787k▲
Financial debts170/4€101k€787k▲
Amounts payable within one year42/48€1.27M€1.29M▲
Current portion of amounts payable after more than one year42€28k€149k▲
Financial debts43€722€91▼
Credit institutions430/8€722€91▼
Trade debts44€815k€954k▲
Suppliers440/4€815k€954k▲
Taxes, remuneration and social security45€131k€114k▼
Taxes450/3€0€20k▲
Remuneration and social security454/9€131k€94k▼
Other amounts payable47/48€300k€71k▼
Accrued charges and deferred income492/3€50k€0▼
Income statement
Code20242025
Non-recurring operating income76A€81€2k▲
Remuneration, social security and pensions62€1.59M€1.29M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€74k€174k▲
Other operating charges640/8€5k€4k▼
Non-recurring operating charges66A€0-
Gross operating margin9900€1.83M€949k▼
Operating profit (loss)9901€154k€-524k▼
Financial income75/76B€4k€1k▼
Recurring financial income75€4k€1k▼
Financial charges65/66B€38k€65k▲
Recurring financial charges65€38k€65k▲
Profit (loss) for the period before taxes9903€119k€-587k▼
Income taxes67/77€35k€726▼
Profit (loss) for the period9904€84k€-588k▼
Profit (loss) for the period to be appropriated9905€84k€-588k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.12M€230k▼
Profit (loss) brought forward from the previous period14P€1.03M€818k▼
Profit to be distributed694/7€300k€0▼
Return on contributions (dividend)694€300k€0▼
Social balance
Average headcount (FTE)908727.621.9▼
The notes to these accounts (21 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
01-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-09
Financial
Weakest financial yearnet €-588k ▼796%
Net result drops to €-588k, the lowest in the series.
31-03
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
16-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
05-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Highest result since 2019net €650k ▲9.5%
Operating result €909k, net result €650k, both a record.
21-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Equity above €1MEq €1.24M ▲91.9%
3 profitable years in a row build equity to €1.24M.
02-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
07-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Herentals · 2 establishment units since 2017
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Toekomstlaan(HRT) 502200 HerentalsGround area
1.7 ha
Building footprint
9,206 m²
Volume, LiDAR
4,389 m³
2 parcels, Flanders · tallest building 10.3 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
VISTAZ
since 20172.270.352.009
VISTAZ
since 20182.282.143.150
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44019A1790/00B000 | Flanders | 1.5 ha | 1 · 8,714 m² | - |
| 13302D0100/00K000 | Flanders | 1,587 m² | 1 · 492 m² | 10.3 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 11,076 EUR awarded · 11,076 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1 EUR | 1 EUR |
| 2024 | 1 | 5,784 EUR | 5,784 EUR |
| 2023 | 1 | 4,982 EUR | 4,982 EUR |
| 2022 | 1 | 309 EUR | 309 EUR |
Schemes
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Recognised contractor
5 categoriesVISTAZ NV43137
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Of 20,025 companies in sector 43320 we hold annual accounts for 9,136. 4,946 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded01-12-2017
Fiscal year end30-09
Activities, NACEBEL
25120Manufacture of fabricated metal products, except machinery and equipment
43320Joinery installation
25110Manufacture of metal structures and parts of structures
43343Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.