VISUAL BOOKS
ActiveSummary
VISUAL BOOKS has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €42,148 and a net result of -€27,020. Equity is growing by ~7.8% per year across the filed fiscal years. Its solvency ranks better than 17% of 20786 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability6▼-56
Solvency45▼-25
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days only on tighter terms
Liquidity short (current ratio 0.96 against 1.08 in 2023; short-term debt: 79.6% and cash: 3.1% of total assets), and 79.6% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
20.4%
Return on assets
-13.1%
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 · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year -€27,020
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 20786 sector peers (2024).
NBB · sector comparisonPosition among 20786 sector peers
Solvency
better than 17%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 05-08-2025, 5 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
5 d late
2023
54 d early
2022
60 d late
2021
25 d late
2020
26 d late
2019
18 d early
← 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 7 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€42,148▼ 39.1%
2023 · €69,168
Total assets
€206,236▲ 33.9%
2023 · €154,001
Net result
-€27,020▼ 228%
2023 · -€8,232
Working capital
-€7,098
2023 · €6,858
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, 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€51,848▲ 332%€32,527▼ 37.3%€16,436▼ 49.5%-€6,307-€28,933▼ 359%
Net result€37,055within the sector's middle half▲ 673%€23,622within the sector's middle half▼ 36.3%€12,149within the sector's middle half▼ 48.6%-€8,232below the sector's middle half-€27,020below the sector's middle half▼ 228%
Equity€61,629within the sector's middle half▲ 151%€65,251within the sector's middle half▲ 5.9%€77,400within the sector's middle half▲ 18.6%€69,168within the sector's middle half▼ 10.6%€42,148within the sector's middle half▼ 39.1%
Total assets€197,486within the sector's middle half▼ 23.2%€223,534within the sector's middle half▲ 13.2%€235,598within the sector's middle half▲ 5.4%€154,001within the sector's middle half▼ 34.6%€206,236within the sector's middle half▲ 33.9%
Debt€135,857▼ 41.6%€158,283▲ 16.5%€158,198▼ 0.1%€84,833▼ 46.4%€164,088▲ 93.4%
Working capital€20,571within the sector's middle half-€22,905below the sector's middle half-€20,174below the sector's middle half▲ 11.9%€6,858below the sector's middle half-€7,098below the sector's middle half
Solvency31.2%below the sector's middle half▲ 21.6pp29.2%below the sector's middle half▼ 2.0pp32.9%within the sector's middle half▲ 3.7pp44.9%within the sector's middle half▲ 12.1pp20.4%below the sector's middle half▼ 24.5pp
Current ratio1.23below the sector's middle half▲ 0.260.83below the sector's middle half▼ 0.400.87below the sector's middle half▲ 0.041.08below the sector's middle half▲ 0.210.96below the sector's middle half▼ 0.12
Return on assets (ROA)18.8%within the sector's middle half▲ 16.9pp10.6%within the sector's middle half▼ 8.2pp5.2%within the sector's middle half▼ 5.4pp-5.3%below the sector's middle half▼ 10.5pp-13.1%below the sector's middle half▼ 7.8pp
Staff (FTE)3.7above the sector's middle half▼ 2.6%3.8▲ 2.7%3▼ 21.1%3.3▲ 10.0%3.8▲ 15.2%
above
within
below
the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, 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 stays negative: a loss of €28,933 in 2024 against €6,307 in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €206,236
Fixed assets
€49,246 ▼ 21.0%
Current assets
€156,990 ▲ 71.2%
Equity and liabilities €206,236
Equity
€42,148 ▼ 39.1%
Debt
€164,088 ▲ 93.4%
Debt's share of the balance-sheet total rises from 55.1% to 79.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€1,730▼
2023 · €43,900
Cash flow
€3,644▼
2023 · €41,975
Debt to equity
3.89▲
2023 · 1.23
ROE
-64.1%▼
2023 · -11.9%
Interest coverage
0.47▼
2023 · 22.62
Debt ≤ 1 year
€164,088▲
2023 · €84,833
Staff costs
€156,309▲
2023 · €144,982
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,295 companies that looked in July 2024 the way this one looks now, 3.6% went bankrupt within 24 months and 89% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
3.6%
went bankrupt
5.9%
stopped otherwise
89%
still going
A further 1.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 1,295 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €1,265 | - | - | - | - |
| Remuneration, social security and pensions62 | - | €185,898 | €158,529 | €144,982 | €156,309 | ▲ 7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €51,227 | €38,915 | €44,768 | €50,207 | €30,664 | ▼ 38.9% |
| Other operating charges640/8 | - | €348 | €4,133 | €840 | €3,825 | ▲ 355% |
| Gross operating margin9900 | €289,449 | €257,688 | €223,867 | €189,722 | €161,864 | ▼ 14.7% |
| Operating profit (loss)9901 | €51,848 | €32,527 | €16,436 | -€6,307 | -€28,933 | ▼ 359% |
| Financial income75/76B | - | - | - | €15 | €5,595 | ▲ 36,046% |
| Recurring financial income75 | - | - | - | €15 | €5,595 | ▲ 36,046% |
| Financial charges65/66B | - | €1,747 | €1,228 | €1,941 | €3,682 | ▲ 89.7% |
| Recurring financial charges65 | €3,611 | €1,747 | €1,228 | €1,941 | €3,682 | ▲ 89.7% |
| Profit (loss) for the period before taxes9903 | €48,238 | €30,780 | €15,208 | -€8,232 | -€27,020 | ▼ 228% |
| Income taxes67/77 | €11,183 | €7,158 | €3,059 | - | - | - |
| Profit (loss) for the period9904 | €37,055 | €23,622 | €12,149 | -€8,232 | -€27,020 | ▼ 228% |
| Profit (loss) for the period to be appropriated9905 | €37,055 | €23,622 | €12,149 | -€8,232 | -€27,020 | ▼ 228% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €197,486 | €223,534 | €235,598 | €154,001 | €206,236 | ▲ 33.9% |
| Formation expenses20 | €57,748 | €38,499 | €19,249 | - | - | - |
| Fixed assets21/28 | €30,020 | €70,385 | €78,325 | €62,310 | €49,246 | ▼ 21.0% |
| Intangible fixed assets21 | €24,496 | €59,805 | €67,867 | €54,824 | €44,454 | ▼ 18.9% |
| Tangible fixed assets22/27 | €5,524 | €10,580 | €10,458 | €7,485 | €4,792 | ▼ 36.0% |
| Plant, machinery and equipment23 | - | €601 | €308 | €14 | - | - |
| Furniture and vehicles24 | - | €7,046 | €7,849 | €5,802 | €3,756 | ▼ 35.3% |
| Other tangible fixed assets26 | - | €2,933 | €2,301 | €1,668 | €1,036 | ▼ 37.9% |
| Current assets29/58 | €109,718 | €114,651 | €138,024 | €91,692 | €156,990 | ▲ 71.2% |
| Amounts receivable within one year40/41 | €49,708 | €83,145 | €130,943 | €79,878 | €142,166 | ▲ 78.0% |
| Trade receivables40 | - | €78,302 | €121,952 | €60,887 | €122,163 | ▲ 101% |
| Other amounts receivable41 | - | €4,842 | €8,991 | €18,991 | €20,002 | ▲ 5.3% |
| Cash at bank and in hand54/58 | €59,571 | €31,295 | €6,842 | €11,567 | €6,354 | ▼ 45.1% |
| Deferred charges and accrued income490/1 | - | €211 | €238 | €247 | €8,470 | ▲ 3,333% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €197,486 | €223,534 | €235,598 | €154,001 | €206,236 | ▲ 33.9% |
| Equity10/15 | €61,629 | €65,251 | €77,400 | €69,168 | €42,148 | ▼ 39.1% |
| Contributions10/11 | - | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €42,855 | €46,655 | €58,655 | €50,555 | €23,555 | ▼ 53.4% |
| Non-distributable reserves130/1 | - | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Reserves not available under the articles1311 | - | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Distributable reserves133 | - | €44,800 | €56,800 | €48,700 | €21,700 | ▼ 55.4% |
| Profit (loss) carried forward14 | €224 | €46 | €195 | €63 | €43 | ▼ 31.7% |
| Amounts payable17/49 | €135,857 | €158,283 | €158,198 | €84,833 | €164,088 | ▲ 93.4% |
| Amounts payable after more than one year17 | €46,711 | €20,728 | - | - | - | - |
| Financial debts170/4 | - | €7,639 | - | - | - | - |
| Other amounts payable178/9 | - | €13,089 | - | - | - | - |
| Amounts payable within one year42/48 | €89,146 | €137,555 | €158,198 | €84,833 | €164,088 | ▲ 93.4% |
| Current portion of amounts payable after more than one year42 | - | €15,673 | €7,639 | - | - | - |
| Financial debts43 | - | - | - | - | €8,884 | - |
| Credit institutions430/8 | - | - | - | - | €8,884 | - |
| Trade debts44 | €20,876 | €50,644 | €61,779 | €14,951 | €72,363 | ▲ 384% |
| Suppliers440/4 | - | €50,644 | €61,779 | €14,951 | €72,363 | ▲ 384% |
| Taxes, remuneration and social security45 | - | €51,238 | €57,456 | €48,372 | €74,772 | ▲ 54.6% |
| Taxes450/3 | - | €14,903 | €27,137 | €21,715 | €40,093 | ▲ 84.6% |
| Remuneration and social security454/9 | - | €36,335 | €30,319 | €26,657 | €34,679 | ▲ 30.1% |
| Other amounts payable47/48 | - | €20,000 | €31,324 | €21,510 | €8,069 | ▼ 62.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €37,055 | €23,622 | €12,149 | -€8,232 | -€27,020 | ▼ 228% |
| + Depreciation and write-downs630 | €51,227 | €38,915 | €44,768 | €50,207 | €30,664 | ▼ 38.9% |
| Operating cash flow (approximation) | €88,282 | €62,537 | €56,917 | €41,975 | €3,644 | ▼ 91.3% |
| Investment in fixed assets (approximation) | - | -€79,279 | -€52,708 | -€34,191 | -€17,600 | ▲ 48.5% |
| Change in cash | - | -€28,276 | -€24,452 | €4,724 | -€5,213 | ▼ 210% |
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
05-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 5 days late
2024
31-12
Financial
Weakest financial yearnet -€27,020
Net result drops to -€27,020, the lowest in the series.
07-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
2022
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 25 days late
2021
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
31-12
Financial
Highest result since 2018net €37,055 ▲673%
Operating result €51,848, net result €37,055, both a record.
13-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
28-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
09-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
29-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Héron · 1 establishment unit since 2014
Ground area
356 m²
Building footprint
157 m²
Volume, LiDAR
1,537 m³
Parcel 61028D0140/00S000, Wallonia · tallest building 11.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
VISUAL BOOKS
since 20142.229.467.103
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 61028D0140/00S000 | Wallonia | 356 m² | 1 · 157 m² | 11.8 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.
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Of 30,009 companies in sector 62200 we hold annual accounts for 18,399. 15,059 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
Founded04-04-2014
Fiscal year end31-12
Activities, NACEBEL 2025
62100Computer programming
62200Computer consultancy and computer facilities management
E-invoicing
Reachable via Peppol
Peppol ID
0208:0550412345
Registered
23-12-2025
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.