Vivâges
ActiveSummary
Vivâges has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.0m and a net result of -€78,556. Equity remains stable across the filed fiscal years (±1.6% per year). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability63▼-10
Solvency83▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €70,000 at 30 days acceptable
Liquidity ample (current ratio 39.87 against 19.85 in 2024; short-term debt: 0% and cash: 1.7% of total assets), and 42% of the assets are financed with debt.
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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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
58%
Return on assets
-4.5%
Age of the figures
9 mo
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 06-07-2026, 25 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
25 d early
2024
31 d early
2023
42 d early
2022
11 d early
2021
37 d early
2020
57 d early
2019
24 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 32 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
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. Usually files around 30 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€1.0m▼ 7.3%
2024 · €1.1m
Total assets
€1.7m▼ 8.0%
2024 · €1.9m
Net result
-€78,556
2024 · €60,916
Working capital
€32,914▲ 106%
2024 · €15,961
Trend over the years
In euros
In euros
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€92,886▲ 16.3%-€75,716▲ 18.5%-€80,985▼ 7.0%€69,059-€78,246
Net result-€98,080▲ 15.4%-€82,122▲ 16.3%-€93,086▼ 13.4%€60,916-€78,556
Equity€1.2m▼ 7.6%€1.1m▼ 6.9%€1.0m▼ 8.4%€1.1m▲ 6.0%€1.0m▼ 7.3%
Total assets€2.3m▼ 1.6%€2.2m▼ 3.7%€2.0m▼ 7.6%€1.9m▼ 8.1%€1.7m▼ 8.0%
Debt€1.1m▲ 5.8%€1.1m▼ 0.3%€1.0m▼ 6.7%€798,604▼ 22.1%€726,034▼ 9.1%
Working capital-€35,775-€43,137▼ 20.6%-€17,257▲ 60.0%€15,961€32,914▲ 106%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €78,246 after €69,059 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.7m
Fixed assets
€1.7m ▼ 9.0%
Current assets
€33,761 ▲ 101%
Equity and liabilities €1.7m
Equity
€1.0m ▼ 7.3%
Debt
€726,034 ▼ 9.1%
Debt's share of the balance-sheet total falls from 42.5% to 42.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€98,494▼
2024 · €245,222
Cash flow
€98,184▼
2024 · €237,078
Current ratio
39.87▲
2024 · 19.85
Debt to equity
0.72▼
2024 · 0.74
ROE
-7.8%▼
2024 · 5.6%
ROA
-4.5%▼
2024 · 3.2%
Interest coverage
317.83▲
2024 · 30.11
Debt ≤ 1 year
€847=
2024 · €847
Debt > 1 year
€719,050▼
2024 · €794,050
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,611 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.1%
stopped otherwise
94%
still going
A further 0.2% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 8,611 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €7,344 | €19,146 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €155,219 | €174,382 | €175,928 | €176,163 | €176,740 | ▲ 0.3% |
| Other operating charges640/8 | €6,239 | €11,150 | €11,790 | €12,435 | €13,201 | ▲ 6.2% |
| Non-recurring operating charges66A | - | - | - | €2,200 | - | - |
| Gross operating margin9900 | €68,572 | €109,816 | €106,733 | €259,857 | €111,695 | ▼ 57.0% |
| Operating profit (loss)9901 | -€92,886 | -€75,716 | -€80,985 | €69,059 | -€78,246 | ▼ 213% |
| Financial charges65/66B | €5,197 | €6,415 | €12,101 | €8,144 | €310 | ▼ 96.2% |
| Recurring financial charges65 | €5,197 | €6,415 | €12,101 | €8,144 | €310 | ▼ 96.2% |
| Profit (loss) for the period before taxes9903 | -€98,084 | -€82,131 | -€93,086 | €60,916 | -€78,556 | ▼ 229% |
| Income taxes67/77 | -€3 | -€8 | - | - | - | - |
| Profit (loss) for the period9904 | -€98,080 | -€82,122 | -€93,086 | €60,916 | -€78,556 | ▼ 229% |
| Profit (loss) for the period to be appropriated9905 | -€98,080 | -€82,122 | -€93,086 | €60,916 | -€78,556 | ▼ 229% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.3m | €2.2m | €2.0m | €1.9m | €1.7m | ▼ 8.0% |
| Fixed assets21/28 | €2.3m | €2.2m | €2.0m | €1.9m | €1.7m | ▼ 9.0% |
| Tangible fixed assets22/27 | €2.3m | €2.2m | €2.0m | €1.9m | €1.7m | ▼ 9.0% |
| Land and buildings22 | €154,021 | €148,079 | €142,138 | €136,196 | €130,255 | ▼ 4.4% |
| Plant, machinery and equipment23 | €2.1m | €2.1m | €1.9m | €1.7m | €1.6m | ▼ 9.4% |
| Financial fixed assets28 | €320 | €320 | €320 | €320 | €320 | = |
| Current assets29/58 | €12,898 | €6,730 | €12,840 | €16,808 | €33,761 | ▲ 101% |
| Amounts receivable within one year40/41 | - | - | €2,453 | €907 | €3,015 | ▲ 233% |
| Other amounts receivable41 | - | - | €2,453 | €907 | €3,015 | ▲ 233% |
| Cash at bank and in hand54/58 | €12,745 | €4,500 | €8,900 | €14,228 | €29,030 | ▲ 104% |
| Deferred charges and accrued income490/1 | €153 | €2,230 | €1,487 | €1,673 | €1,716 | ▲ 2.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.3m | €2.2m | €2.0m | €1.9m | €1.7m | ▼ 8.0% |
| Equity10/15 | €1.2m | €1.1m | €1.0m | €1.1m | €1.0m | ▼ 7.3% |
| Contributions10/11 | €1.8m | €1.8m | €1.8m | €1.8m | €1.8m | = |
| Capital10 | €1.8m | €1.8m | €1.8m | €1.8m | €1.8m | = |
| Issued capital100 | €1.8m | €1.8m | €1.8m | €1.8m | €1.8m | = |
| Reserves13 | €10,582 | €10,582 | €10,582 | €10,582 | €10,582 | = |
| Non-distributable reserves130/1 | €1,920 | €1,920 | €1,920 | €1,920 | €1,920 | = |
| Legal reserve130 | €1,920 | €1,920 | €1,920 | €1,920 | €1,920 | = |
| Tax-exempt reserves132 | €8,663 | €8,663 | €8,663 | €8,663 | €8,663 | = |
| Profit (loss) carried forward14 | -€593,354 | -€675,476 | -€768,562 | -€707,646 | -€786,202 | ▼ 11.1% |
| Amounts payable17/49 | €1.1m | €1.1m | €1.0m | €798,604 | €726,034 | ▼ 9.1% |
| Amounts payable after more than one year17 | €1.0m | €1.0m | €990,438 | €794,050 | €719,050 | ▼ 9.4% |
| Financial debts170/4 | €1.0m | €1.0m | €990,438 | €791,500 | €716,500 | ▼ 9.5% |
| Other amounts payable178/9 | - | - | - | €2,550 | €2,550 | = |
| Amounts payable within one year42/48 | €48,673 | €49,866 | €30,097 | €847 | €847 | = |
| Current portion of amounts payable after more than one year42 | €29,250 | €29,250 | €29,250 | - | - | - |
| Trade debts44 | €17,074 | €4,770 | - | - | - | - |
| Suppliers440/4 | €17,074 | €4,770 | - | - | - | - |
| Other amounts payable47/48 | €2,349 | €15,847 | €847 | €847 | €847 | = |
| Accrued charges and deferred income492/3 | €5,544 | €5,034 | €5,082 | €3,708 | €6,138 | ▲ 65.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€98,080 | -€82,122 | -€93,086 | €60,916 | -€78,556 | ▼ 229% |
| + Depreciation and write-downs630 | €155,219 | €174,382 | €175,928 | €176,163 | €176,740 | ▲ 0.3% |
| Operating cash flow (approximation) | €57,139 | €92,260 | €82,843 | €237,078 | €98,184 | ▼ 58.6% |
| Investment in fixed assets (approximation) | - | -€94,862 | -€2,760 | -€6,099 | -€8,661 | ▼ 42.0% |
| Change in cash | - | -€8,245 | €4,400 | €5,328 | €14,802 | ▲ 178% |
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
06-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Liquidity doublescurrent ratio 39.87
Current ratio from 19.85 to 39.87.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €60,916
Net result €60,916 after 6 loss-making years.
31-12
Financial
Liquidity times 47current ratio 19.85
Current ratio from 0.43 to 19.85; short-term debt falls from €30,097 to €847.
19-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
20-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
04-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Equity above €1mEq €1.1m ▲111%
Equity rises from €524,870 to €1.1m.
19-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 19 days late
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 24 days late
2017
09-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 9 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
No directors read yet: 0 of 6 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Liège · 1 establishment unit since 1996
Ground area
1,086 m²
Building footprint
156 m²
Volume, LiDAR
1,696 m³
Parcel 62810B1372/00H000, Wallonia · tallest building 12.4 m, ±4 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Rue Vivegnis 39, 4000 Liège
since 19962.076.813.253
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62810B1372/00H000 | Wallonia | 1,086 m² | 1 · 156 m² | 12.4 m · 4 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.
Company details
Identification
Legal formPublic limited company
Founded12-04-1995
Fiscal year end31-12
Contact
E-mail
th.maertens@gmail.comLiège
E-invoicing
Reachable via Peppol
Peppol ID
0208:0455017793
Also
9925:BE0455017793
Registered
30-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.