Equity
€17,542 from €108,749 in 2022
Equity fell by 84% in 3 years.
VL Developments
Overview
Lifetime
8 annual accounts with figures on one time axispeak €30,588 (2020)
€15,706▲ 62.8%
lowest -€94,839 (2023)
€5,044▲ €6,456
peak €108,749 (2022)
€17,542▲ 40.4%
€120,745▼ 4.4%
Board1 name since 2017
1 director
Documentsfilings and deeds
30-04-2026on the last day
2025abbreviated format
Gross margin from €9,647 to €15,706Back to profit: €5,044Equity from €12,498 to €17,542Cash from €207 to €24
Key points
from the 2025 annual accountsTurnover
≈ €65,000 estimated
The accounts state no turnover.
Debts
€120,745 87% of the balance sheet
Suppliers 12%Taxes and wages 1%Other 87%
Filings
8 annual accounts since 2018
The last five annual accounts were filed 0 to 30 days before the end of the period.
Starting capital
€80,000 200 shares
Position in the sector
€17,542
Less equity than 80% of companies in real estate. Sector median €403,849 · 12,427 companies.
Checked score
Bankruptcy probability within 12 months
Financial strength
Score breakdown
Comparable companies, two years later
In July 2024, 3,272 companies had the same profile as VL Developments has now. Each dot stands for 9 companies, two years later.
94.7%
were still trading
2.5%
stopped another way
2.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
Test of the method
The method was tested on the 497,331 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,272 companies, not a prediction for VL Developments. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
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Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0674719231
Merger: VL Developments takes over DE VARIANT
Appointment: (director) · 200 shares · The company holds all the shares of DE VARIANT · General meeting of 18-04-2023 · Gazette deed
Merger proposal: VL Developments takes over De Variant
holds 100 shares · The company holds all the shares of De Variant · Gazette deed
Incorporation
Founding capital of €80,000, 200 shares · Founders: ; · Appointment: (manager) · published on 25-04-2017 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| VL Developments Westerlo | €138,287 | €15,706 | 12.7% | - |
| LECONA Aalter | €138,835 | €17,225 | 59.7% | - |
| N-Construct Koksijde | €140,117 | €12,017 | 77.0% | - |
| YGS-Construct Boortmeerbeek | €149,552 | €21,461 | 46.0% | - |
| ZARRIMMO Kortemark | €147,923 | €16,773 | 63.9% | - |
| Blocks & Concrete Heusden-Zolder | €125,580 | €21,935 | 76.4% | - |
| Re-konstrukt Verachtert Geel | €103,162 | €12,614 | 45.3% | - |
These companies have the same main activity as VL Developments: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €103,000 and €150,000, founded between 2017 and 2018.
Official details
Source: KBO- Status
- Active since 21-04-2017Normal situation
- Activity
- Development of residential building projectsNACE 68121and 2 others
- Establishment unit
- 2.264.177.5622260 Westerlo, since 21-04-2017
- Financial year end
- 30 September
- Peppol
- Reachable since 29-12-2025
Annual accounts to 30-09-2025
- €15,706▲ 62.8%
- €5,044
- €17,542▲ 40.4%
- €138,287▼ 0.3%
- Filing
- Filed on 30-04-2026, on the last day of the filing period
Insights on VL Developments
VL Developments files the abbreviated format. That format states no turnover. The gross margin rose from -€15,147 in 2018 to €15,706 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
abbreviated format, filed on 30-04-2026, on the day of the deadline€15,706
▲ 62.8%
€7,528
▲ 494%
€5,044
▲ €6,456
-€66,676
▲ €8,280
12.7%
▲ 3.7 percentage points
0.45
▲ 0.05
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €65,000. Estimated: probably between €32,000 and €210,000.
Balance sheet
balance sheet total €138,287 on 30-09-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
12.7%
Higher than 32% of 12,423 companies in 2025.
0.45
Higher than 26% of 11,950 companies in 2025.
3.6%
Higher than 69% of 12,326 companies in 2025.
VL Developments
Middle half of the sector
80% of the sector
Abbreviated accounts in real estate (NACE 68)
Net result: middle half · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||
20/58 |
138,287 | 138,745 | 136,804 | 275,180 | 242,844 | 243,635 | 214,318 | 64,869 | |
21/28 |
84,218 | 89,723 | 95,228 | 218,897 | 209,846 | 208,520 | 204,465 | - | |
22/27 |
84,218 | 89,723 | 95,228 | 33,897 | 24,846 | 23,520 | 19,465 | - | |
22 |
49,579 | 49,579 | 49,579 | - | - | - | - | - | |
23 |
11,490 | 12,946 | 14,402 | 1,699 | - | - | - | - | |
26 |
23,149 | 27,198 | 31,248 | 32,198 | 24,846 | 23,520 | 19,465 | - | |
28 |
- | - | - | 185,000 | 185,000 | 185,000 | 185,000 | - | |
29/58 |
54,069 | 49,022 | 41,576 | 56,283 | 32,998 | 35,116 | 9,853 | 64,869 | |
3 |
446 | 446 | 446 | 446 | 446 | 446 | 446 | 446 | |
30/36 |
446 | 446 | 446 | 446 | 446 | 446 | 446 | 446 | |
40/41 |
51,142 | 37,340 | 35,454 | 23,760 | 31,023 | 18,320 | 9,407 | 2,443 | |
40 |
855 | 1,255 | 242 | - | 4,175 | - | 1,634 | - | |
41 |
50,287 | 36,085 | 35,212 | 23,760 | 26,849 | 18,320 | 7,773 | 2,443 | |
54/58 |
24 | 207 | 161 | 14,613 | 1,228 | 1,969 | - | 61,979 | |
490/1 |
2,457 | 11,029 | 5,514 | 17,464 | 300 | 14,381 | - | - | |
| Balance sheet: equity and liabilities | |||||||||
10/49 |
138,287 | 138,745 | 136,804 | 275,180 | 242,844 | 243,635 | 214,318 | 64,869 | |
10/15 |
17,542 | 12,498 | 13,910 | 108,749 | 107,458 | 99,694 | 79,494 | 64,044 | |
10/11 |
80,000 | 80,000 | 80,000 | 80,000 | 80,000 | 80,000 | 80,000 | 80,000 | |
100 |
- | - | - | - | - | - | 80,000 | 80,000 | |
14 |
-62,458 | -67,502 | -66,090 | 28,749 | 27,458 | 19,694 | -506 | -15,956 | |
17/49 |
120,745 | 126,247 | 122,894 | 166,430 | 135,386 | 143,942 | 134,824 | 824 | |
17 |
- | 1,769 | 22,799 | 43,466 | 63,775 | 83,734 | 103,348 | - | |
170/4 |
- | 1,769 | 22,799 | 43,466 | 63,775 | 83,734 | 103,348 | - | |
42/48 |
120,745 | 123,978 | 100,095 | 122,965 | 65,110 | 56,707 | 31,476 | 824 | |
42 |
1,769 | 21,030 | 20,667 | 20,310 | 19,959 | 19,614 | 19,275 | - | |
44 |
14,160 | 16,705 | 18,336 | 41,980 | 15,118 | 13,145 | 8,130 | 824 | |
440/4 |
14,160 | 16,705 | 18,336 | 41,980 | 15,118 | 13,145 | 8,130 | 824 | |
45 |
1,540 | 154 | 366 | 114 | 4,472 | 6,337 | - | - | |
450/3 |
1,540 | 154 | 366 | 114 | 4,472 | 6,337 | - | - | |
47/48 |
103,275 | 86,090 | 60,726 | 60,561 | 25,561 | 17,611 | 4,071 | - | |
492/3 |
- | 500 | - | - | 6,500 | 3,500 | - | - | |
| Income statement | |||||||||
9900 |
15,706 | 9,647 | 17,918 | 8,472 | 15,754 | 30,588 | 21,788 | -15,147 | |
630 |
5,505 | 5,505 | 6,917 | 3,656 | 3,153 | 2,490 | 2,163 | - | |
640/8 |
2,673 | 2,874 | 2,526 | 204 | 449 | 448 | 451 | 800 | |
66A |
- | - | 99,571 | - | - | - | - | - | |
9901 |
7,528 | 1,268 | -91,096 | 4,611 | 12,153 | 27,650 | 19,174 | -15,947 | |
75/76B |
- | 30 | 0 | - | - | - | - | - | |
75 |
- | 30 | 0 | - | - | - | - | - | |
65/66B |
944 | 2,556 | 3,376 | 3,207 | 1,949 | 1,113 | 3,725 | 8 | |
65 |
944 | 2,556 | 3,376 | 3,207 | 1,949 | 1,113 | 3,725 | 8 | |
9903 |
6,584 | -1,258 | -94,473 | 1,405 | 10,203 | 26,537 | 15,449 | -15,956 | |
67/77 |
1,540 | 154 | 366 | 114 | 2,439 | 6,337 | - | - | |
9904 |
5,044 | -1,412 | -94,839 | 1,291 | 7,765 | 20,200 | 15,449 | -15,956 | |
9905 |
5,044 | -1,412 | -94,839 | 1,291 | 7,765 | 20,200 | 15,449 | -15,956 | |
| Appropriation of the result | |||||||||
9906 |
-62,458 | -67,502 | -66,090 | 28,749 | 27,458 | 19,694 | -506 | -15,956 | |
14P |
-67,502 | -66,090 | 28,749 | 27,458 | - | - | - | - | |
| Document | |||||||||
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 30-04-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 30-04-2026 | 2026-00098290 | |
| 30-09-2024 | abbreviated format | 30-04-2025 | 2025-00085278 | |
| 30-09-2023 | abbreviated format | 30-04-2024 | 2024-00081168 | |
| 30-09-2022 | abbreviated format | 28-04-2023 | 2023-00076468 | |
| 30-09-2021 | abbreviated format | 31-03-2022 | 2022-09900598 | |
| 30-09-2020 | micro format | 29-04-2021 | 2021-12300020 | |
| 30-09-2019 | micro format | 29-04-2020 | 2020-11000041 | |
| 30-09-2018 | micro format | 29-03-2019 | 2019-08600540 |
Subsidies and aid
Flemish government 2022 to 2025, 2 entries, €1,744 awarded, €1,744 paid
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €1,447 | €1,447 |
| 2022 | 1 | €297 | €297 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| 13,033 | 6,773 | -84,179 | 8,268 | 15,306 | 30,140 | 21,337 | - | ||
| 10,549 | 4,093 | -87,922 | 4,947 | 10,918 | 22,690 | 17,612 | - | ||
| 0 | 0 | 374,541 | 12,707 | 4,480 | 6,545 | 206,628 | - | ||
| -183 | 45 | -14,452 | 13,385 | -741 | - | - | - | ||
| -66,676 | -74,956 | -58,519 | -66,682 | -32,113 | -21,592 | -21,623 | 64,044 | ||
| 12.7% | 9.0% | 10.2% | 39.5% | 44.2% | 40.9% | 37.1% | 98.7% | ||
| 0.45 | 0.40 | 0.42 | 0.46 | 0.51 | 0.62 | 0.31 | 78.69 | ||
| 0.44 | 0.39 | 0.41 | 0.45 | 0.50 | 0.61 | 0.30 | 78.15 | ||
| 6.88 | 10.10 | 8.83 | 1.53 | 1.26 | 1.44 | 1.70 | 0.01 | ||
| 28.8% | -11.3% | -681.8% | 1.2% | 7.2% | 20.3% | 19.4% | -24.9% | ||
| 3.6% | -1.0% | -69.3% | 0.5% | 3.2% | 8.3% | 7.2% | -24.6% | ||
| 13.81 | 2.65 | -24.93 | 2.58 | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Securities and guarantees
on own assets and for others| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 |
|---|---|---|---|---|
| Debts guaranteed by Belgian public bodies | €1,769 | - | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
fixed assets acquired| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | €374,541 | €12,707 |
| €5,505 | €5,505 | €6,917 | €3,656 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on VL Developments
The operating result for 2025 is over 5.9 times that of 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Debt's share of the balance-sheet total falls from 91.0% to 87.3%. Equity is higher and debt is lower.
Board & ownership
Board
1 director, no change since 2023Director (not named in the articles)
since 21-04-2017
listed in the 2025 annual accounts, filed on 30-04-2026
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- “Bestuur. De vennootschap wordt bestuurd door één of meer zaakvoerders, al dan niet vennoten. Iedere zaakvoerder is bevoegd om alleen alle…”deed of 25-04-2017
Mandates through the years
1 name, the dashed line is todayManager (not named in the articles)
Board
Mandates as a list
-
- Manager (not named in the articles), from 21-04-2017 to date
Control
Shareholder
This company
VL Developments
Equity €17,542
Profit €5,044 in 2025
Capital
- Capital
- €80,000
- Shares
- 200
- Contribution per share
- €400
- Equity per share
- €87.71 in 2025
- Source
- deed of 25-04-2017
Articles of association
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 09-05-2023 (in Dutch)
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Second Friday of March at 18:00deed of 25-04-2017 (in Dutch)
Shareholders
Stated in the deed
deed of 14-03-2023 ↗
- 100 shares
At incorporation
deed of 25-04-2017 ↗
- 100 shares (50%) · €40,000
- 100 shares (50%) · €40,000
Capital transactions
Capital over time
- 09-05-2023 Capital stated in 2 deeds · 200 shares
- 25-04-2017 Incorporation · €80,000 · 200 shares
Network & group
Holdings
own accounts to 30-09-2022This companyVL Developments1 holding, 1 country
accounts to 30-09-2022
Belgium 1 Equity Result
- BE no longer active €85,429 result €16,978
Source: list of holdings in its own 30-09-2022 accounts. Every holding stands with its own latest accounts.
At the same address
Ter Voort 179, 2260 Westerlo · 1 other company| DEBUUT
registered office since 20-01-2001 |
founded in 2001 0474.758.481 |
Holdings and subsidiaries
1 holdingHoldings 1
Share, source and own figures per holding (1)
- subsidiaryEquity €85,429 Profit of €16,978 in 2022100%
Holdings through the years 2019 to 2022
| Name | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|
| 100% | ||||
Source: list of holdings in its own accounts
Acquisitions and mergers
1 transactionTook over:DE VARIANT
Connections & network
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
via · Director (not named in the articles) · deed of 08-06-2021
No longer active
Timeline
Timeline
18 events since 2017Board
Capital
Filings
Financial
Establishments
20182020202220242026
Deadline for the 2026 accounts: 30-04-2027
2026
Annual accounts 2025 filed PDFabbreviated format · on the deadline day
2025
Registered in the Peppol Directory Reachable for e-invoices through 0208:0674719231
Back to profit net €5,044 The net result is €5,044, after 2 loss-making years.
Annual accounts 2024 filed PDFabbreviated format · on the deadline day
2024
Annual accounts 2023 filed PDFabbreviated format · on the deadline day
2023
Weakest financial year net -€94,839 The net result drops to -€94,839, the lowest from 2018 to 2025. It recovers the following year.
Merger: VL Developments takes over DE VARIANTAppointment: (director) · 200 shares · The company holds all the shares of DE VARIANT · General meeting of 18-04-20236 points ▸
- 200 shares
- Director appointment, (director (not named in the articles))
- Registered office clause, Ter Voort 179, 2260 Westerlo
- General meeting, 18-04-2023
- Accounting effect, 01-01-2023
- The company holds all the shares of DE VARIANT
- The deed holds 9 more points.
Annual accounts 2022 filed PDFabbreviated format · 2 days before the deadline
Merger proposal: VL Developments takes over De Variant holds 100 shares · The company holds all the shares of De Variant3 points ▸
- holds 100 shares
- The company holds all the shares of De Variant
- General meeting, 31-05-2023, mentioned twice in the deed
- The deed holds 7 more points.
2022
Annual accounts 2021 filed PDFabbreviated format · 30 days before the deadline
2021
Equity above €100,000 equity €107,458 ▲7.8% After 3 profitable years in a row, equity reaches €107,458.
Annual accounts 2020 filed PDFmicro format · 1 day before the deadline
2020
Highest result from 2018 to 2025 net €20,200 ▲30.8% The operating result of €27,650 and the net result of €20,200 are both a record.
Annual accounts 2019 filed PDFmicro format · 1 day before the deadline
2019
Back to profit net €15,449 The net result is €15,449, after one loss-making year.
Annual accounts 2018 filed PDFmicro format · 32 days before the deadline
2017
IncorporationFounding capital of €80,000, 200 shares · Founders: ; · Appointment: (manager) · published on 25-04-20174 points ▸
- Founder,
- Founder,
- Founding capital, €80,000, 200 shares
- Director appointment, (manager (not named in the articles))
- The deed holds 1 more point.
First establishment Ter Voort 179, Westerlo
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Identity
- Enterprise number
- 0674.719.231
- VAT number
- BE 0674.719.231
- Peppol ID
- 0208:0674719231
- Other Peppol ID
- 9925:BE0674719231
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 21-04-2017
- Financial year
- ends on 30 September
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Second Friday of March at 18:00deed of 25-04-2017 (in Dutch)
- Peppol
- Reachable since 29-12-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- VL Developments in Dutch
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 09-05-2023 (in Dutch)
- Name clauseThe company operates under this name according to its articles.
- VL Developmentsdeed of 09-05-2023 (in Dutch)
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Vlaams Gewest”deed of 09-05-2023 (in Dutch)
Activities
NACEBEL 202568121
Development of residential building projects main activity
Codes under NACEBEL 2008
41101
Real estate development main activity
43211
Specialised construction activities
68100
Real estate activities
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Handelen in allerhande kunst/kunstvormen.Het zelf maken,aankopen en verkopen van kunst; Onderneming voor het uitvoeren van alle…”deed of 09-05-2023 (in Dutch)
8 activities
- Handelen in allerhande kunst/kunstvormen.Het zelf maken,aankopen en verkopen van kunst;
- Onderneming voor het uitvoeren van alle electriciteitswerken;
- Onderneming voor de installatie van elektrische bedrading en toebehoren;
- Het herwikkelen van elektromotoren en transformatoren;
- Onderneming voor de installatie van hulpvoedingssystemen;
- Onderneming voor de installatie van elektrische verwarmingsinstallaties;
- Onderneming voor de installatie van liften en roltrappen;
- De reparatie van elektrische huishoudapparaten;
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Ter Voort 179 registered office 2260 Westerlo | 21-04-2017 | 2.264.177.562 |
Buildings and parcels at the address
- Ground area
- 797 m²
- Buildings
- 239 m²
- Volume, LiDAR
- 877 m³
- Tallest building
- 5.7 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 13039A0130/00F000 | 797 m² | 1 · 239 m² | 5.7 m · 1 |
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0674.719.231