VM&M PROJECTS
ActiveVM&M PROJECTS has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €35k and a net result of €-41k. Equity is shrinking by ~14.9% per year across the filed fiscal years. Its solvency ranks better than 22% of 13905 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency34▼-1
Growth32=
Stability100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity ample (current ratio 13.59 against 17.92 in 2024), but 98.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← fewer bankruptcies
more bankruptcies →
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity fell accordingly. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
2122232425
2021 to 2025 · latest year -€41k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 13905 sector peers (2025).
NBB · sector comparisonPosition among 13905 sector peers
Solvency
better than 22%
← weakest
strongest →
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 17-07-2026, 14 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
14 d early
2024
15 d early
2023
56 d late
2022
7 d late
2021
16 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
14-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€35k▼ 53.9%
2024 · €77k
2021: €104k
2022: €104k
2023: €109k
2024: €77k
2021 → 2025
Total assets
€2.77M▲ 11.2%
2024 · €2.49M
2021: €522k
2022: €1.82M
2023: €2.42M
2024: €2.49M
2021 → 2025
Net result
€-41k▼ 12.7%
2024 · €-37k
2021: €6k
2022: €2k
2023: €6k
2024: €-37k
2021 → 2025
Working capital
€843k▼ 39.3%
2024 · €1.39M
2021: €352k
2022: €920k
2023: €1.30M
2024: €1.39M
2021 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€104k-€104k▲ 0.2%€109k▲ 4.2%€77k▼ 29.6%€35k▼ 53.9%
Operating result€6k-€2k▼ 65.4%€7k▲ 206%€-34k€-46k▼ 35.3%
Net result€6k-€2k▼ 69.4%€6k▲ 237%€-37k€-41k▼ 12.7%
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 €46k in 2025 against €34k in 2024; the loss grows and 2025 is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.77M
Fixed assets
€1.86M▲ 82.3%
Current assets
€910k▼ 38.1%
Equity and liabilities €2.77M
Equity
€35k▼ 53.9%
Debt
€2.73M▲ 13.3%
The debt ratio rises from 96.9% to 98.7%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€11k▲
2024 · €9k
Cash flow
€16k▲
2024 · €7k
Solvency
1.3%▼
2024 · 3.1%
Current ratio
13.59▼
2024 · 17.92
Quick ratio
2.17▲
2024 · 1.07
Debt / equity
77.44▲
2024 · 31.52
ROE
-116.9%▼
2024 · -47.8%
ROA
-1.5%▼
2024 · -1.5%
Interest coverage
1.95▲
2024 · 1.93
Debt
€2.73M▲
2024 · €2.41M
Debt ≤ 1 year
€67k▼
2024 · €82k
Debt > 1 year
€2.67M▲
2024 · €2.33M
Income taxes
€2k▲
2024 · €-469
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€2.49M€2.77M▲
Fixed assets21/28€1.02M€1.86M▲
Intangible fixed assets21€11k€6k▼
Tangible fixed assets22/27€1.01M€1.85M▲
Land and buildings22€964k€1.82M▲
Furniture and vehicles24€45k€32k▼
Financial fixed assets28-€875
Current assets29/58€1.47M€910k▼
Amounts receivable after more than one year29-€71k
Other amounts receivable291-€71k
Stocks and contracts in progress3€1.38M€764k▼
Stocks30/36€1.38M€764k▼
Amounts receivable within one year40/41€33k€71k▲
Trade receivables40€25k€43k▲
Other amounts receivable41€9k€28k▲
Cash at bank and in hand54/58€52k€1k▼
Deferred charges and accrued income490/1€3k€2k▼
Equity and liabilities
Total equity and liabilities10/49€2.49M€2.77M▲
Equity10/15€77k€35k▼
Contributions10/11€100k€100k=
Reserves13€0-
Distributable reserves133€0-
Profit (loss) carried forward14€-23k€-65k▼
Amounts payable17/49€2.41M€2.73M▲
Amounts payable after more than one year17€2.33M€2.67M▲
Financial debts170/4€203k€191k▼
Other amounts payable178/9€2.13M€2.47M▲
Amounts payable within one year42/48€82k€67k▼
Current portion of amounts payable after more than one year42€11k€11k▲
Trade debts44€59k€36k▼
Suppliers440/4€59k€36k▼
Taxes, remuneration and social security45€6k€2k▼
Taxes450/3€6k€2k▼
Other amounts payable47/48€6k€18k▲
Accrued charges and deferred income492/3€3k€1k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€44k€57k▲
Other operating charges640/8€3k€33k▲
Non-recurring operating charges66A€0-
Gross operating margin9900€12k€44k▲
Operating profit (loss)9901€-34k€-46k▼
Financial income75/76B€2k€13k▲
Recurring financial income75€2k€13k▲
Financial charges65/66B€5k€5k▲
Recurring financial charges65€5k€5k▲
Profit (loss) for the period before taxes9903€-37k€-39k▼
Income taxes67/77€-469€2k▲
Profit (loss) for the period9904€-37k€-41k▼
Profit (loss) for the period to be appropriated9905€-37k€-41k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-36k€-65k▼
Profit (loss) brought forward from the previous period14P€273€-23k▼
Transfer from equity791/2€13k€0▼
Transfer to equity691/2€0-
To other reserves6921€0-
Profit to be distributed694/7€0-
Return on contributions (dividend)694€0-
The notes to these accounts (18 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
17-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-41k
Net result drops to €-41k, the lowest in the series.
16-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
25-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 56 days late
2023
31-12
Financial
Highest result since 2021net €6k ▲237%
Operating result €7k, net result €6k, both a record.
07-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 7 days late
2022
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2025
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
01-01-2025
Resigned as Director
Location & real-estate footprint
Registered office, Kortemark · 1 establishment unit since 2020
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.
Doornstraat 218610 KortemarkGround area
924 m²
Building footprint
142 m²
Volume, LiDAR
854 m³
Parcel 32011B0885/00F000, Flanders · tallest building 9.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
VM&M PROJECTS
since 20202.302.528.689
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 32011B0885/00F000 | Flanders | 924 m² | 1 · 142 m² | 9.5 m · 2 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.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 2,400 EUR awarded| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,400 EUR | 0 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 9,635 companies in sector 68121 we hold annual accounts for 7,328. 4,641 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded20-05-2020
Fiscal year end31-12
Activities, NACEBEL
68121Development of residential building projects
68122Development of non-residential building projects
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.