VLEM
ActiveSummary
VLEM has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €121,661 and a net result of -€27,676. Equity is shrinking by ~25.3% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 13% of 16718 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability31▲+13
Solvency34▼-2
Growth58=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity ample (current ratio 22.27 against 19.71 in 2024; short-term debt: 0.8% and cash: 1.7% of total assets), but 90.9% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six 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 86
Relative position
BE, all sectors
reference
Human health activities (NACE 86)
about 87% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
9.1%
Return on assets
-2.1%
Age of the figures
15 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
19202122232425
2019 to 2025 · latest year -€27,676
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 16718 sector peers (2025).
NBB · sector comparisonPosition among 16718 sector peers
Solvency
better than 13%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-01-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
4 d early
2023
1 d early
2022
13 d early
2021
31 d late
2020
2 d early
2019
2 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 1 day after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
In the rankings
#6 company by total assets in Oosterzele, Health and social work sector#6 oldest company in Oosterzele, Health and social work sector
Equity
€121,661▼ 18.5%
2024 · €149,337
Total assets
€1.3m▼ 2.0%
2024 · €1.4m
Net result
-€27,676▲ 70.2%
2024 · -€92,775
Working capital
€217,462▲ 21.7%
2024 · €178,678
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 86, Human health 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
Line20212022202320242025
Operating result-€53,130▲ 6.1%-€68,387▼ 28.7%-€79,212▼ 15.8%-€58,080▲ 26.7%€4,441
Net result-€84,542below the sector's middle half▲ 9.5%-€101,081below the sector's middle half▼ 19.6%-€125,126below the sector's middle half▼ 23.8%-€92,775below the sector's middle half▲ 25.9%-€27,676below the sector's middle half▲ 70.2%
Equity€468,318above the sector's middle half▼ 15.3%€367,237within the sector's middle half▼ 21.6%€242,112within the sector's middle half▼ 34.1%€149,337within the sector's middle half▼ 38.3%€121,661within the sector's middle half▼ 18.5%
Total assets€1.7mabove the sector's middle half▼ 4.9%€1.6mabove the sector's middle half▼ 5.9%€1.4mabove the sector's middle half▼ 7.8%€1.4mabove the sector's middle half▼ 6.2%€1.3mabove the sector's middle half▼ 2.0%
Debt€1.2m▼ 0.2%€1.2m▲ 0.2%€1.2m▲ 0.2%€1.2m▲ 0.2%€1.2m▲ 0.1%
Working capital€201,295▼ 3.3%€198,939▼ 1.2%€177,358▼ 10.8%€178,678▲ 0.7%€217,462▲ 21.7%
Solvency28.0%below the sector's middle half▼ 3.4pp23.4%below the sector's middle half▼ 4.7pp16.7%below the sector's middle half▼ 6.7pp11.0%below the sector's middle half▼ 5.7pp9.1%below the sector's middle half▼ 1.9pp
above
within
below
the middle half (P25 to P75) of NACE 86, Human health 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 returns to profit in 2025: €4,441 after a loss of €58,080 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.3m
Fixed assets
€1.1m ▼ 5.7%
Current assets
€227,687 ▲ 21.0%
Equity and liabilities €1.3m
Equity
€121,661 ▼ 18.5%
Debt
€1.2m ▲ 0.1%
Debt's share of the balance-sheet total rises from 89.0% to 90.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€76,269▲
2024 · €40,679
Cash flow
€44,152▲
2024 · €5,984
Current ratio
22.27▲
2024 · 19.71
Debt to equity
9.95▲
2024 · 8.10
ROE
-22.7%▲
2024 · -62.1%
ROA
-2.1%▲
2024 · -6.8%
Interest coverage
1.78▲
2024 · 0.95
Debt ≤ 1 year
€10,225▲
2024 · €9,551
Debt > 1 year
€1.2m=
2024 · €1.2m
Income taxes
-€8▼
2024 · €1,284
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 913 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 95% are still going.
- Small
- 10 to 20 years old
- solvency under 10%
- a small loss
2.0%
went bankrupt
2.1%
stopped otherwise
95%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.1% 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 913 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €104,138 | €106,434 | €106,854 | €98,759 | €71,828 | ▼ 27.3% |
| Other operating charges640/8 | - | €3,846 | €3,646 | €4,040 | €4,038 | = |
| Gross operating margin9900 | €54,870 | €41,893 | €31,288 | €44,718 | €80,307 | ▲ 79.6% |
| Operating profit (loss)9901 | -€53,130 | -€68,387 | -€79,212 | -€58,080 | €4,441 | ▲ 108% |
| Financial income75/76B | - | €11,300 | €10,288 | €9,572 | €10,752 | ▲ 12.3% |
| Recurring financial income75 | €12,316 | €11,300 | €10,288 | €9,572 | €10,752 | ▲ 12.3% |
| Financial charges65/66B | - | €42,780 | €54,947 | €42,982 | €42,878 | ▼ 0.2% |
| Recurring financial charges65 | €42,671 | €42,780 | €54,947 | €42,982 | €42,878 | ▼ 0.2% |
| Profit (loss) for the period before taxes9903 | -€83,485 | -€99,867 | -€123,870 | -€91,490 | -€27,685 | ▲ 69.7% |
| Income taxes67/77 | €1,058 | €1,214 | €1,255 | €1,284 | -€8 | ▼ 101% |
| Profit (loss) for the period9904 | -€84,542 | -€101,081 | -€125,126 | -€92,775 | -€27,676 | ▲ 70.2% |
| Profit (loss) for the period to be appropriated9905 | -€84,542 | -€101,081 | -€125,126 | -€92,775 | -€27,676 | ▲ 70.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.7m | €1.6m | €1.4m | €1.4m | €1.3m | ▼ 2.0% |
| Fixed assets21/28 | €1.5m | €1.4m | €1.3m | €1.2m | €1.1m | ▼ 5.7% |
| Tangible fixed assets22/27 | €1.5m | €1.4m | €1.3m | €1.2m | €1.1m | ▼ 5.7% |
| Land and buildings22 | - | €1.4m | €1.3m | €1.2m | €1.1m | ▼ 5.6% |
| Plant, machinery and equipment23 | - | €1,760 | €1,978 | €2,652 | €2,016 | ▼ 24.0% |
| Furniture and vehicles24 | - | €10,719 | €6,114 | €2,063 | €1,269 | ▼ 38.5% |
| Other tangible fixed assets26 | - | €2,750 | €2,750 | €2,750 | €2,750 | = |
| Current assets29/58 | €203,957 | €203,647 | €184,402 | €188,229 | €227,687 | ▲ 21.0% |
| Amounts receivable within one year40/41 | €161,890 | €158,677 | €153,253 | €167,699 | €191,246 | ▲ 14.0% |
| Trade receivables40 | - | - | - | €354 | - | - |
| Other amounts receivable41 | - | €158,677 | €153,253 | €167,345 | €191,246 | ▲ 14.3% |
| Current investments50/53 | €12,110 | €12,110 | - | - | - | - |
| Cash at bank and in hand54/58 | €14,812 | €18,888 | €17,855 | €7,831 | €22,715 | ▲ 190% |
| Deferred charges and accrued income490/1 | - | €13,972 | €13,295 | €12,699 | €13,727 | ▲ 8.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.7m | €1.6m | €1.4m | €1.4m | €1.3m | ▼ 2.0% |
| Equity10/15 | €468,318 | €367,237 | €242,112 | €149,337 | €121,661 | ▼ 18.5% |
| Contributions10/11 | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €739,260 | €739,260 | €229,712 | €136,937 | €109,261 | ▼ 20.2% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | €737,400 | €227,852 | €136,937 | €109,261 | ▼ 20.2% |
| Profit (loss) carried forward14 | -€283,342 | -€384,423 | - | - | - | - |
| Amounts payable17/49 | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | ▲ 0.1% |
| Amounts payable after more than one year17 | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Financial debts170/4 | - | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Amounts payable within one year42/48 | €2,663 | €4,708 | €7,045 | €9,551 | €10,225 | ▲ 7.1% |
| Trade debts44 | €360 | €732 | €947 | €50 | €1,167 | ▲ 2,234% |
| Suppliers440/4 | - | €732 | €947 | €50 | €1,167 | ▲ 2,234% |
| Taxes, remuneration and social security45 | - | €1,214 | €1,255 | €2,539 | €1,247 | ▼ 50.9% |
| Taxes450/3 | - | €1,214 | €1,255 | €2,539 | €1,247 | ▼ 50.9% |
| Other amounts payable47/48 | - | €2,762 | €4,842 | €6,962 | €7,811 | ▲ 12.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€84,542 | -€101,081 | -€125,126 | -€92,775 | -€27,676 | ▲ 70.2% |
| + Depreciation and write-downs630 | €104,138 | €106,434 | €106,854 | €98,759 | €71,828 | ▼ 27.3% |
| Operating cash flow (approximation) | €19,596 | €5,353 | -€18,271 | €5,984 | €44,152 | ▲ 638% |
| Investment in fixed assets (approximation) | - | -€7,709 | -€3,310 | -€4,664 | -€5,368 | ▼ 15.1% |
| Change in cash | - | €4,076 | -€1,033 | -€10,024 | €14,883 | ▲ 248% |
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
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
27-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Weakest financial yearnet -€125,126
Net result drops to -€125,126, the lowest in the series; recovery starts the following year.
18-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
03-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
29-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
29-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
31-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
03-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Oosterzele · 1 establishment unit since 2006
Ground area
2,265 m²
Building footprint
268 m²
Volume, LiDAR
1,518 m³
2 parcels, Flanders · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Meierij 17, 9820 Merelbeke-Melle
since 20062.200.841.611
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44059A0820/00E000 | Flanders | 1,280 m² | 1 · 118 m² | 8.8 m · 2 fl. |
| 44058B0425/00D000 | Flanders | 985 m² | 1 · 150 m² | 8.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
967600HOWWUVW1P76532
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Of 16,631 companies in sector 86220 we hold annual accounts for 7,985. 6,566 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
Founded19-12-2006
Fiscal year end30-06
Activities, NACEBEL 2025
86220Specialist medical practice
E-invoicing
Reachable via Peppol
Peppol ID
0208:0885785687
Also
9925:BE0885785687
Registered
28-08-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.