VLS BELGIUM

Active

Public limited companyfounded 200620 yrs activeRomeynsweel 8, 2030 Antwerpen, BelgiumKBO/BCE: BE 0882.290.026

Summary

VLS BELGIUM has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.65M and a net result of €170k. Equity is shrinking by ~8.2% per year across the filed fiscal years. Its solvency ranks better than 82% of 725 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).

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Checked score

Score 2024

82 / 100

Excellent

The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability59▲+9

Solvency92▲+10

Growth35▼-1

Track record100

Bankruptcy probability, 12 months

0.6% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €210k at 30 days acceptable

Liquidity ample (current ratio 4.08 against 3.18 in 2023; short-term debt: 23.2% of total assets), and 32.6% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 52

Relative position

BE, all sectors

reference

Sector 52

higher

← fewer bankruptcies more bankruptcies →

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

67.4%

Return on assets

4.3%

Age of the figures

21 mo

Growing equity

Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.

NBB · annual accounts 2024

Equity per financial year

18192021222324

2018 to 2024 · latest year €2.65M

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-07-2025, 3 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

3 d early

2023

36 d early

2022

47 d early

2021

47 d early

2020

51 d early

2019

21 d early

← before the deadline after the deadline →

Checked, nothing found (1)

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, full schema

Turnover

€10.05M▲ 1.9%

2023 · €9.86M

2018: €8.70M 2019: €8.54M 2020: €7.14M 2021: €7.68M 2022: €9.32M 2023: €9.86M

2018 → 2024

EBIT margin

1.7%▲ 0.3pp

2023 · 1.3%

2018: 3.0% 2019: 5.2% 2020: -8.4% 2021: -8.7% 2022: -4.4% 2023: 1.3%

2018 → 2024

Net result

€170k▲ 21.2%

2023 · €140k

2018: €236k 2019: €413k 2020: €-622k 2021: €-685k 2022: €-426k 2023: €140k

2018 → 2024

Working capital

€2.81M▼ 2.0%

2023 · €2.87M

2018: €4.01M 2019: €4.41M 2020: €3.79M 2021: €3.08M 2022: €2.65M 2023: €2.87M

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Turnover€7.14M-€7.68M▲ 7.5%€9.32M▲ 21.5%€9.86M▲ 5.8%€10.05M▲ 1.9%

Equity€3.45M-€2.76M▼ 19.9%€2.34M▼ 15.4%€2.48M▲ 6.0%€2.65M▲ 6.9%

Operating result€-596k-€-669k▼ 12.2%€-407k▲ 39.1%€132k€167k▲ 27.2%

Net result€-622k-€-685k▼ 10.2%€-426k▲ 37.8%€140k€170k▲ 21.2%

Result per fiscal year

Operating resultNet result

After the dip in 2021 the operating result has climbed three years in a row; 2024 is 27% above 2023 and is the highest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €3.93M

94.8%

Fixed assets €203k ▲ 29.4%

Current assets €3.73M ▼ 11.0%

Equity and liabilities €3.93M

67.4%

28.9%

Equity €2.65M ▲ 6.9%

Provisions €144k ▼ 42.7%

Debt €1.14M ▼ 29.6%

Debt's share of the balance-sheet total falls from 37.1% to 28.9%. Equity is higher and debt is lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€201k▲

2023 · €142k

Cash flow

€203k▲

2023 · €151k

Current ratio

4.08▲

2023 · 3.18

Debt to equity

0.43▼

2023 · 0.65

ROE

6.4%▲

2023 · 5.7%

ROA

4.3%▲

2023 · 3.2%

Interest coverage

6.61▲

2023 · 4.70

Debt ≤ 1 year

€913k▼

2023 · €1.32M

Income taxes

€1k▼

2023 · €2k

Staff costs

€1.74M▼

2023 · €1.80M

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 · 2024 against 2023 · 64 lines

Balance sheet Code20232024

Assets

Total assets20/58€4.34M€3.93M▼

Fixed assets21/28€157k€203k▲

Tangible fixed assets22/27€108k€148k▲

Plant, machinery and equipment23€108k€148k▲

Financial fixed assets28€49k€55k▲

Other financial fixed assets284/8€49k€55k▲

Amounts receivable and cash guarantees285/8€49k€55k▲

Current assets29/58€4.19M€3.73M▼

Amounts receivable within one year40/41€4.12M€3.66M▼

Trade receivables40€3.28M€2.00M▼

Other amounts receivable41€841k€1.65M▲

Deferred charges and accrued income490/1€70k€68k▼

Equity and liabilities

Total equity and liabilities10/49€4.34M€3.93M▼

Equity10/15€2.48M€2.65M▲

Contributions10/11€4.00M€4.00M=

Capital10€4.00M€4.00M=

Issued capital100€4.00M€4.00M=

Reserves13€4k€4k=

Non-distributable reserves130/1€4k€4k=

Legal reserve130€4k€4k=

Profit (loss) carried forward14€-1.53M€-1.36M▲

Provisions and deferred taxes16€252k€144k▼

Provisions for liabilities and charges160/5€252k€144k▼

Major repairs and maintenance162€0-

Other liabilities and charges164/5€252k€144k▼

Amounts payable17/49€1.61M€1.14M▼

Amounts payable within one year42/48€1.32M€913k▼

Financial debts43-€10

Credit institutions430/8-€10

Trade debts44€1.02M€736k▼

Suppliers440/4€1.02M€736k▼

Taxes, remuneration and social security45€302k€177k▼

Taxes450/3€79k-

Remuneration and social security454/9€223k€177k▼

Accrued charges and deferred income492/3€296k€223k▼

Income statement Code20232024

Operating income70/76A€10.43M€10.17M▼

Turnover70€9.86M€10.05M▲

Other operating income74€545k€113k▼

Non-recurring operating income76A€28k-

Operating charges60/66A€10.30M€10.00M▼

Goods for resale, raw materials and consumables60€1.99M€2.31M▲

Purchases600/8€1.99M€2.31M▲

Services and other goods61€6.23M€5.95M▼

Remuneration, social security and pensions62€1.80M€1.74M▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€10k€33k▲

Provisions for liabilities and charges: additions (uses and reversals)635/8€175k€-113k▼

Other operating charges640/8€94k€74k▼

Operating profit (loss)9901€132k€167k▲

Financial income75/76B€42k€35k▼

Recurring financial income75€42k€35k▼

Income from current assets751€42k€34k▼

Other financial income752/9€17€222▲

Financial charges65/66B€31k€30k▼

Recurring financial charges65€31k€30k▼

Debt charges650€30k€30k▲

Other financial charges652/9€829-

Profit (loss) for the period before taxes9903€143k€172k▲

Income taxes67/77€2k€1k▼

Taxes670/3€2k€1k▼

Profit (loss) for the period9904€140k€170k▲

Profit (loss) for the period to be appropriated9905€140k€170k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-1.53M€-1.36M▲

Profit (loss) brought forward from the previous period14P€-1.67M€-1.53M▲

Social balance

Average headcount (FTE)908725.022.2▼

The notes to these accounts (41 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 16Financial 3Gazette 3Filings 10

2026

14-08

State Gazette act Permanent representatives: Philippe Venken and Jef Neefs

3 facts ▸

Board meeting, 05/12/2025
Permanent representative, Philippe Venken
Permanent representative, Jef Neefs

14-08

State Gazette act Resignations: Nicole Crop (non-statutory director) and Ivan Garcia (non-statutory director)

Appointment: Bram Ceulemans (non-statutory director)7 facts ▸

General meeting, 24/07/2026
Board meeting, 24/07/2026
Director resignation, Nicole Crop (non-statutory director)
Director resignation, Ivan Garcia (non-statutory director)
Director appointment, Bram Ceulemans (non-statutory director)
Director resignation, Nicole Crop (managing director)
Director appointment, Bram Ceulemans (managing director)

23-03

State Gazette act Resignation: Graham Cousins (non-statutory director)

Appointment: Nicole Crop (managing director)5 facts ▸

General meeting, 09/02/2026
Director resignation, Graham Cousins (non-statutory director)
Board meeting, 22/01/2026
Director resignation, Graham Cousins (managing director)
Director appointment, Nicole Crop (managing director)

2025

28-07

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

25-06

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

31-12

Financial Back to profitnet €140k

Net result €140k after 3 loss-making years.

14-06

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2022

14-06

NBB filing Annual accounts filed

fiscal year 2021 · full schema

2021

31-12

Financial Weakest financial yearnet €-685k

Net result drops to €-685k, the lowest in the series; recovery starts the following year.

10-06

NBB filing Annual accounts filed

fiscal year 2020 · full schema

2020

10-07

NBB filing Annual accounts filed

fiscal year 2019 · full schema

2019

31-12

Financial Highest result since 2018net €413k ▲75%

Operating result €442k, net result €413k, both a record.

Show earlier events

21-06

NBB filing Annual accounts filed

fiscal year 2018 · full schema

2018

29-06

NBB filing Annual accounts filed

fiscal year 2017 · full schema

2017

16-06

NBB filing Annual accounts filed

fiscal year 2016 · full schema

2016

15-06

NBB filing Annual accounts filed

fiscal year 2015 · full schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

1 director, no change since 2026

Bram Ceulemans

Non-statutory director · since 24-07-2026

Current

24-07-2026 Bram Ceulemans: Appointed as Non-statutory director

24-07-2026 Bram Ceulemans: Appointed as Managing director

24-07-2026 Ivan Garcia: Resigned as Non-statutory director

24-07-2026 Nicole Crop: Resigned as Non-statutory director

24-07-2026 Nicole Crop: Resigned as Managing director

Full history in the Timeline (8 changes) →

Location & real-estate footprint

Registered office, Antwerpen · 1 establishment unit since 2007

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Romeynsweel 82030 Antwerpen

Ground area

6.9 ha

Building footprint

4.0 ha

Volume, LiDAR

488,327 m³

Parcel 11815D0271/07L000, Flanders · tallest building 16.2 m, ±4 floors. Linked by address, not a title deed.

1 establishment unit

VLS BELGIUM

Romeynsweel 8, 2030 AntwerpenNACE 6024201

since 20072.159.706.285

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
11815D0271/07L000	Flanders	6.9 ha	1 · 4.0 ha	16.2 m · 4 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Recognitions · licences · registrations

Food safety, FASFC

1 site

Antwerpen2.159.706.285

2 permissions

Opslag diervoeders · since 01-03-2013

Opslag kamer t° levensmiddelen

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KRAANBEDRIJF D.BUERMANS

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Of 275 companies in sector 52241 we hold annual accounts for 212. 104 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Company data · Crossroads Bank

Identification

Legal formPublic limited company

Founded04-07-2006

Fiscal year end31-12

Activities, NACEBEL 2025

52241Warehousing and support activities for transportation

52250Logistics services

Sources

Crossroads Bank for EnterprisesNational Bank · 19 filingsAddress and cadastre registers

Scores and ratios are computed by Checked and are not a credit decision.