VISUAL ART SERVICES
ActiveSummary
The computed 12-month bankruptcy probability of VISUAL ART SERVICES is 1.9% (moderate). The 2025 annual accounts show equity of €14k and a net result of €-4k. Equity is shrinking by ~21.2% per year across the filed fiscal years. The company has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-2
Solvency100=
Growth58=
Track record100
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity ample (current ratio 30.03 against 6.92 in 2024; short-term debt: 2.9% and cash: 87.4% of total assets), and 2.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · 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
97.1%
Return on assets
-31%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-4k
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 22-04-2026, 100 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
100 d early
2024
21 d late
2023
22 d early
2022
47 d early
2021
2 d early
2020
31 d late
2019
69 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€14k▼ 24.2%
2024 · €18k
2018: €105khighest in 8 years
2019: €62k▼ -41.1% vs 2018
2020: €39k▼ -37.2% vs 2019
2021: €32k▼ -18.4% vs 2020
2022: €25k▼ -20.6% vs 2021
2023: €21k▼ -17.0% vs 2022
2024: €18k▼ -13.2% vs 2023
2025: €14k▼ -24.2% vs 2024lowest in 8 years
2018 → 2025
Total assets
€14k▼ 31.4%
2024 · €21k
2018: €120khighest in 8 years
2019: €64k▼ -46.5% vs 2018
2020: €42k▼ -34.3% vs 2019
2021: €33k▼ -22.3% vs 2020
2022: €77k▲ +136% vs 2021
2023: €22k▼ -71.4% vs 2022
2024: €21k▼ -7.2% vs 2023
2025: €14k▼ -31.4% vs 2024lowest in 8 years
2018 → 2025
Net result
€-4k▼ 59.8%
2024 · €-3k
2018: €-30k
2019: €-43k▼ -42.2% vs 2018lowest in 8 years
2020: €-23k▲ +46.6% vs 2019
2021: €-7k▲ +68.9% vs 2020
2022: €-6k▲ +9.0% vs 2021
2023: €-4k▲ +34.3% vs 2022
2024: €-3k▲ +35.8% vs 2023highest in 8 years
2025: €-4k▼ -59.8% vs 2024
2018 → 2025
Working capital
€12k▼ 19.1%
2024 · €15k
2018: €97khighest in 8 years
2019: €53k▼ -46.0% vs 2018
2020: €31k▼ -40.4% vs 2019
2021: €26k▼ -16.5% vs 2020
2022: €18k▼ -30.4% vs 2021
2023: €16k▼ -13.8% vs 2022
2024: €15k▼ -6.2% vs 2023
2025: €12k▼ -19.1% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€32k-€25k▼ 20.6%€21k▼ 17.0%€18k▼ 13.2%€14k▼ 24.2%
2021: €32khighest in 5 years
2022: €25k▼ -20.6% vs 2021
2023: €21k▼ -17.0% vs 2022
2024: €18k▼ -13.2% vs 2023
2025: €14k▼ -24.2% vs 2024lowest in 5 years
Operating result€-7k-€-6k▲ 9.5%€-4k▲ 35.6%€-3k▲ 33.7%€-4k▼ 58.5%
2021: €-7klowest in 5 years
2022: €-6k▲ +9.5% vs 2021
2023: €-4k▲ +35.6% vs 2022
2024: €-3k▲ +33.7% vs 2023highest in 5 years
2025: €-4k▼ -58.5% vs 2024
Net result€-7k-€-6k▲ 9.0%€-4k▲ 34.3%€-3k▲ 35.8%€-4k▼ 59.8%
2021: €-7klowest in 5 years
2022: €-6k▲ +9.0% vs 2021
2023: €-4k▲ +34.3% vs 2022
2024: €-3k▲ +35.8% vs 2023highest in 5 years
2025: €-4k▼ -59.8% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €4k in 2025 against €3k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €14k
Fixed assets
€2k ▼ 47.1%
Current assets
€12k ▼ 28.4%
Equity and liabilities €14k
Equity
€14k ▼ 24.2%
Debt
€410 ▼ 83.5%
Debt's share of the balance-sheet total falls from 12.1% to 2.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-3k▼
2024 · €-871
Cash flow
€-3k▼
2024 · €-981
Current ratio
30.03▲
2024 · 6.92
Debt to equity
0.03▼
2024 · 0.14
ROE
-32.0%▼
2024 · -15.2%
ROA
-31.0%▼
2024 · -13.3%
Interest coverage
-15.99▼
2024 · -6.45
Debt ≤ 1 year
€410▼
2024 · €2k
Income taxes
€88▲
2024 · €26
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 42 lines
Balance sheet
Code20242025
Assets
Total assets20/58€21k€14k▼
Fixed assets21/28€3k€2k▼
Tangible fixed assets22/27€3k€2k▼
Plant, machinery and equipment23€1k-
Furniture and vehicles24€1k€837▼
Other tangible fixed assets26€1k€924▼
Current assets29/58€17k€12k▼
Amounts receivable within one year40/41€4k€11▼
Trade receivables40€4k-
Other amounts receivable41-€11
Cash at bank and in hand54/58€14k€12k▼
Equity and liabilities
Total equity and liabilities10/49€21k€14k▼
Equity10/15€18k€14k▼
Contributions10/11€19k€19k=
Reserves13€85k€85k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€12k€12k=
Distributable reserves133€70k€70k=
Profit (loss) carried forward14€-85k€-90k▼
Amounts payable17/49€2k€410▼
Amounts payable within one year42/48€2k€410▼
Trade debts44-€400
Suppliers440/4-€400
Taxes, remuneration and social security45€176€11▼
Taxes450/3€176€11▼
Other amounts payable47/48€2k-
Income statement
Code20242025
Non-recurring operating income76A€4k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€2k▼
Other operating charges640/8€698€465▼
Gross operating margin9900€-172€-2k▼
Operating profit (loss)9901€-3k€-4k▼
Financial income75/76B€51€38▼
Recurring financial income75€51€38▼
Financial charges65/66B€135€162▲
Recurring financial charges65€135€162▲
Profit (loss) for the period before taxes9903€-3k€-4k▼
Income taxes67/77€26€88▲
Profit (loss) for the period9904€-3k€-4k▼
Profit (loss) for the period to be appropriated9905€-3k€-4k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-85k€-90k▼
Profit (loss) brought forward from the previous period14P€-83k€-85k▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €4k | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2k | €2k | €2k | €2k | €2k | ▼ 10.7% |
| Other operating charges640/8 | €802 | €1k | €1k | €698 | €465 | ▼ 33.3% |
| Gross operating margin9900 | €-4k | €-3k | €-763 | €-172 | €-2k | ▼ 1,133% |
| Operating profit (loss)9901 | €-7k | €-6k | €-4k | €-3k | €-4k | ▼ 58.5% |
| Financial income75/76B | - | - | €0 | €51 | €38 | ▼ 25.6% |
| Recurring financial income75 | - | - | €0 | €51 | €38 | ▼ 25.6% |
| Financial charges65/66B | €220 | €188 | €135 | €135 | €162 | ▲ 20.1% |
| Recurring financial charges65 | €220 | €188 | €135 | €135 | €162 | ▲ 20.1% |
| Profit (loss) for the period before taxes9903 | €-7k | €-6k | €-4k | €-3k | €-4k | ▼ 58.1% |
| Income taxes67/77 | €113 | €153 | €165 | €26 | €88 | ▲ 239% |
| Profit (loss) for the period9904 | €-7k | €-6k | €-4k | €-3k | €-4k | ▼ 59.8% |
| Profit (loss) for the period to be appropriated9905 | €-7k | €-6k | €-4k | €-3k | €-4k | ▼ 59.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €33k | €77k | €22k | €21k | €14k | ▼ 31.4% |
| Fixed assets21/28 | €5k | €7k | €5k | €3k | €2k | ▼ 47.1% |
| Tangible fixed assets22/27 | €5k | €7k | €5k | €3k | €2k | ▼ 47.1% |
| Plant, machinery and equipment23 | €1k | €3k | €2k | €1k | - | - |
| Furniture and vehicles24 | €2k | €2k | €1k | €1k | €837 | ▼ 21.9% |
| Other tangible fixed assets26 | €2k | €2k | €2k | €1k | €924 | ▼ 25.0% |
| Current assets29/58 | €27k | €71k | €17k | €17k | €12k | ▼ 28.4% |
| Amounts receivable within one year40/41 | €904 | €6k | - | €4k | €11 | ▼ 99.7% |
| Trade receivables40 | €253 | €2k | - | €4k | - | - |
| Other amounts receivable41 | €650 | €5k | - | - | €11 | - |
| Cash at bank and in hand54/58 | €26k | €63k | €16k | €14k | €12k | ▼ 9.4% |
| Deferred charges and accrued income490/1 | €752 | €952 | €1k | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €33k | €77k | €22k | €21k | €14k | ▼ 31.4% |
| Equity10/15 | €32k | €25k | €21k | €18k | €14k | ▼ 24.2% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €85k | €85k | €85k | €85k | €85k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Tax-exempt reserves132 | €12k | €12k | €12k | €12k | €12k | = |
| Distributable reserves133 | €70k | €70k | €70k | €70k | €70k | = |
| Profit (loss) carried forward14 | €-72k | €-78k | €-83k | €-85k | €-90k | ▼ 5.1% |
| Amounts payable17/49 | €1k | €52k | €1k | €2k | €410 | ▼ 83.5% |
| Amounts payable within one year42/48 | €1k | €52k | €1k | €2k | €410 | ▼ 83.5% |
| Trade debts44 | - | €43k | €7 | - | €400 | - |
| Suppliers440/4 | - | €43k | €7 | - | €400 | - |
| Taxes, remuneration and social security45 | €113 | €1k | €476 | €176 | €11 | ▼ 94.0% |
| Taxes450/3 | €113 | €200 | €476 | €176 | €11 | ▼ 94.0% |
| Remuneration and social security454/9 | - | €1k | - | - | - | - |
| Other amounts payable47/48 | €1k | €8k | €863 | €2k | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-7k | €-6k | €-4k | €-3k | €-4k | ▼ 59.8% |
| + Depreciation and write-downs630 | €2k | €2k | €2k | €2k | €2k | ▼ 10.7% |
| Operating cash flow (approximation) | €-5k | €-4k | €-3k | €-981 | €-3k | ▼ 186% |
| Investment in fixed assets (approximation) | - | €-4k | €0 | €0 | €0 | - |
| Change in cash | - | €37k | €-47k | €-2k | €-1k | ▲ 43.6% |
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
22-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Liquidity quadruplescurrent ratio 30.03
Current ratio from 6.92 to 30.03; short-term debt falls from €2k to €410.
21-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 21 days late
2024
09-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity times 9current ratio 12.66
Current ratio from 1.35 to 12.66; short-term debt falls from €52k to €1k.
14-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity doublescurrent ratio 21.92
Current ratio from 9.84 to 21.92; short-term debt falls from €4k to €1k.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
08-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 69 days late
2019
31-12
Financial
Weakest financial yearnet €-43k
Net result drops to €-43k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity triplescurrent ratio 21.16
Current ratio from 7.28 to 21.16; short-term debt falls from €15k to €3k.
Show earlier events
21-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 21 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Vorst · 1 establishment unit since 2004
Ground area
3,351 m²
Building footprint
790 m²
Volume, LiDAR
7,385 m³
Parcel 21007A0065/00N002, Brussels · tallest building 12.5 m, ±3 floors. Linked by address, not a title deed.
36
companies at this address
See who is registered here
1 establishment unit
VISUAL ART SERVICES
since 20042.135.405.906
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21007A0065/00N002 | Brussels | 3,351 m² | 1 · 790 m² | 12.5 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded06-01-2004
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.