Equity
Equity rose in 2025 from €757,530 to €1.4m.
Equity rose in 2025 from €757,530 to €1.4m.
Green is investment, beige is depreciation.
Short-term debts rose from €217,214 to €254,432.
The last five annual accounts were filed 47 to 72 days before the end of the period.
Merger with GOODWILL INVEST & BEHEER. Merger on 19-08-2026.
Higher net result than 92% of companies in head offices and management consultancy. Sector median €37,464 · 10,858 companies.
The dashed line is the sector median: 0.1% across 4,522 companies (NACE 70, small).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 70, small). It does better than 49% of them on solvency, 86% on liquidity, 84% on profitability and 92% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 30-09-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Liquidity is ample, with a current ratio of 3.17 (1.68 in 2024), above the usual 1.5. Short-term debt is 9.3% and cash 12.7% of total assets. 49.2% of the assets are financed with debt and provisions.
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.
The company filed its last 7 accounts on average 69 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| VM VALUE Meise | €2.7m | €112,176 | 50.8% | - |
| WARANDE1970 Wezembeek-Oppem | €2.9m | €111,610 | 42.3% | - |
| EAGLES Keerbergen | €2.2m | €109,221 | 27.9% | - |
| LUKA PROJECTS Halle | €2.6m | €141,181 | 68.5% | - |
| IDB invest Maarkedal | €2.8m | €117,832 | 44.4% | - |
| VDS Group Brussels | €2.9m | €118,399 | 5.8% | - |
| CRFP Pittem | €2.7m | €101,352 | 96.9% | - |
These companies have the same main activity as VM VALUE: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €2.2m and €2.9m, founded between 2011 and 2012.
VM VALUE files the abbreviated format. That format states no turnover. The gross margin rose from €1,105 in 2012 to €112,176 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
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 ≈ €180,000. Estimated: probably between €150,000 and €230,000.
Higher than 49% of 10,858 companies in 2025.
Higher than 70% of 10,480 companies in 2025.
Higher than 84% of 10,727 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||
20/58 |
2.7m | 2.3m | 2.2m | 592,573 | 593,934 | 617,647 | 570,995 | 510,065 | 455,469 | 424,675 | 438,261 | 454,193 | 151,573 | 17,993 | |
20 |
- | - | - | - | - | - | - | - | - | - | - | - | 333 | 667 | |
21/28 |
1.9m | 1.9m | 1.9m | 369,810 | 370,516 | 368,939 | 369,125 | 368,754 | 368,924 | 379,044 | 388,652 | 399,598 | 42,099 | 8,621 | |
22/27 |
1,507 | 624 | 350 | 1,056 | 1,762 | 186 | 371 | - | 171 | 10,291 | 19,898 | 30,844 | 41,766 | 7,954 | |
24 |
1,507 | 624 | 350 | 1,056 | 1,762 | 186 | 371 | - | 171 | 10,291 | 19,898 | 30,844 | 41,766 | 7,954 | |
28 |
1.9m | 1.9m | 1.9m | 368,754 | 368,754 | 368,754 | 368,754 | 368,754 | 368,754 | 368,754 | 368,754 | 368,754 | - | - | |
29/58 |
805,336 | 365,017 | 242,549 | 222,763 | 223,418 | 248,708 | 201,870 | 141,312 | 86,544 | 45,631 | 49,609 | 54,595 | 109,474 | 9,372 | |
29 |
0 | 42,665 | 45,624 | 111,232 | 154,050 | 194,177 | 160,283 | 97,919 | 39,560 | - | - | - | - | - | |
291 |
0 | 42,665 | 45,624 | 111,232 | 154,050 | 194,177 | 160,283 | 97,919 | 39,560 | - | - | - | - | - | |
3 |
- | - | - | - | - | - | - | - | 932 | 1,013 | - | - | - | - | |
30/36 |
- | - | - | - | - | - | - | - | 932 | 1,013 | - | - | - | - | |
40/41 |
451,468 | 22,272 | 14,852 | 3,932 | 9,900 | - | - | 1,923 | 5,663 | 11,435 | 18,435 | 25,193 | 18,570 | 1,311 | |
40 |
0 | 372 | 352 | 231 | - | - | - | 1,923 | 5,663 | 11,358 | 18,424 | 23,371 | 18,566 | 1,184 | |
41 |
451,468 | 21,900 | 14,500 | 3,701 | 9,900 | - | - | - | - | 77 | 11 | 1,822 | 5 | 127 | |
54/58 |
345,067 | 298,500 | 180,837 | 106,330 | 59,391 | 54,531 | 40,689 | 39,965 | 36,872 | 30,104 | 30,676 | 26,493 | 90,136 | 8,024 | |
490/1 |
8,801 | 1,580 | 1,235 | 1,269 | 77 | 0 | 898 | 1,504 | 3,518 | 3,079 | 498 | 2,910 | 767 | 37 | |
| Balance sheet: equity and liabilities | |||||||||||||||
10/49 |
2.7m | 2.3m | 2.2m | 592,573 | 593,934 | 617,647 | 570,995 | 510,065 | 455,469 | 424,675 | 438,261 | 454,193 | 151,573 | 17,993 | |
10/15 |
1.4m | 757,530 | 572,489 | 511,742 | 506,177 | 514,802 | 486,444 | 381,713 | 315,287 | 239,930 | 205,366 | 169,817 | 74,928 | 7,871 | |
10/11 |
74,400 | 74,400 | 74,400 | 68,300 | 68,300 | 68,300 | 68,300 | 68,300 | 68,300 | 68,300 | 68,300 | 68,300 | 12,500 | 12,500 | |
100 |
- | - | - | - | - | - | 74,400 | 74,400 | 74,400 | 74,400 | 74,400 | 74,400 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 6,100 | 6,100 | 6,100 | 6,100 | 6,100 | 6,100 | 6,100 | 6,100 | |
13 |
7,440 | 7,440 | 7,440 | 7,440 | 7,440 | 7,440 | 7,440 | 7,440 | 7,440 | 7,440 | 7,440 | 7,440 | 1,860 | - | |
130/1 |
- | 0 | 7,440 | 7,440 | 7,440 | 7,440 | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 7,440 | 7,440 | 7,440 | 7,440 | 7,440 | 7,440 | 1,860 | - | |
1311 |
- | 0 | 7,440 | 7,440 | 7,440 | 7,440 | - | - | - | - | - | - | - | - | |
133 |
7,440 | 7,440 | - | - | - | - | - | - | - | - | - | - | - | - | |
14 |
1.3m | 675,690 | 490,649 | 436,002 | 430,437 | 439,062 | 410,704 | 305,973 | 239,547 | 164,190 | 129,626 | 94,077 | 60,568 | -4,629 | |
17/49 |
1.3m | 1.5m | 1.6m | 80,831 | 87,757 | 102,845 | 84,551 | 128,353 | 140,182 | 184,746 | 232,895 | 284,376 | 76,645 | 10,122 | |
17 |
1.1m | 1.3m | 1.4m | - | - | - | - | - | 36,395 | 87,753 | 140,991 | 193,491 | 22,223 | 4,877 | |
170/4 |
285,714 | 357,143 | 428,571 | - | - | - | - | - | 36,395 | 87,753 | 140,991 | 193,491 | 22,223 | 4,877 | |
178/9 |
800,000 | 950,000 | 1.0m | - | - | - | - | - | - | - | - | - | - | - | |
42/48 |
254,432 | 217,214 | 160,592 | 80,831 | 87,757 | 102,845 | 84,551 | 128,353 | 103,787 | 96,993 | 91,812 | 90,885 | 54,369 | 5,244 | |
42 |
221,429 | 121,429 | 121,429 | - | - | - | - | 40,396 | 47,458 | 53,239 | 52,500 | 51,909 | 11,550 | 4,316 | |
43 |
6,746 | 11,889 | 11,877 | 11,743 | 6,315 | 6,330 | 7,551 | 7,547 | 5,034 | - | - | - | - | - | |
430/8 |
6,746 | 11,889 | 11,877 | 11,743 | 6,315 | 6,330 | 7,551 | 7,547 | - | - | - | - | - | - | |
439 |
- | - | - | - | - | - | - | - | 5,034 | - | - | - | - | - | |
44 |
1,764 | 1,023 | 1,785 | 1,205 | 2,529 | 2,162 | 5,695 | 5,921 | 6,796 | 4,244 | 148 | 3,917 | 2,620 | 336 | |
440/4 |
1,764 | 1,023 | 1,785 | 1,205 | 2,529 | 2,162 | 5,695 | 5,921 | 6,796 | 4,244 | 148 | 3,917 | 2,620 | 336 | |
45 |
24,494 | 24,866 | 21,940 | 13,383 | 18,823 | 36,270 | 39,909 | 37,663 | 35,970 | 36,369 | 39,114 | 35,054 | 39,683 | 201 | |
450/3 |
19,894 | 24,866 | 17,340 | 13,383 | 14,723 | 32,170 | 39,909 | 37,663 | 35,970 | 36,369 | 39,114 | 34,321 | 39,683 | 201 | |
454/9 |
4,600 | 0 | 4,600 | 0 | 4,100 | 4,100 | - | - | - | - | - | 733 | - | - | |
47/48 |
0 | 58,009 | 3,561 | 54,500 | 60,090 | 58,083 | 31,396 | 36,826 | 8,529 | 3,142 | 50 | 6 | 516 | 391 | |
492/3 |
18 | 2,508 | - | - | - | - | - | - | - | - | 92 | - | 54 | - | |
| Income statement | |||||||||||||||
9900 |
112,176 | 86,045 | 79,244 | 125,074 | 71,333 | 114,368 | 180,916 | 153,297 | 121,299 | 71,747 | 80,031 | 72,895 | 115,301 | 1,105 | |
630 |
356 | 482 | 706 | 706 | 542 | 186 | 186 | 171 | 171 | 10,120 | 10,946 | 11,255 | 11,255 | 4,251 | |
640/8 |
1,566 | 1,097 | 793 | 659 | 348 | 348 | 348 | 348 | 466 | 754 | 751 | 812 | 5,518 | 1,060 | |
66A |
- | - | - | - | - | - | - | 932 | - | - | - | - | - | - | |
9901 |
110,253 | 84,466 | 77,745 | 123,709 | 70,443 | 113,835 | 180,383 | 151,847 | 120,662 | 60,873 | 68,335 | 60,828 | 98,529 | -4,206 | |
75/76B |
564,595 | 300,889 | 1,625 | 1,280 | 1,804 | 3,521 | 1,591 | 1,854 | 507 | 88 | 85 | 900 | 519 | 57 | |
75 |
564,595 | 300,889 | 1,625 | 1,280 | 1,804 | 3,521 | 1,591 | 1,854 | 507 | 88 | 85 | 900 | 519 | 57 | |
65/66B |
25,392 | 26,823 | 3,859 | 2,390 | 2,706 | 3,098 | 2,168 | 3,272 | 4,336 | 5,081 | 6,441 | 2,586 | 746 | 480 | |
65 |
25,392 | 26,823 | 3,859 | 2,390 | 2,706 | 3,098 | 2,168 | 3,272 | 4,336 | 5,081 | 6,441 | 2,586 | 746 | 480 | |
9903 |
649,456 | 358,533 | 75,511 | 122,598 | 69,542 | 114,258 | 179,806 | 150,429 | 116,833 | 55,879 | 61,979 | 59,142 | 98,301 | -4,629 | |
67/77 |
21,555 | 13,107 | 20,863 | 32,033 | 18,167 | 35,901 | 55,075 | 53,003 | 41,475 | 21,316 | 26,430 | 20,053 | 31,245 | - | |
9904 |
627,901 | 345,425 | 54,648 | 90,565 | 51,375 | 78,357 | 124,732 | 97,426 | 75,358 | 34,564 | 35,549 | 39,089 | 67,057 | -4,629 | |
9905 |
627,901 | 345,425 | 54,648 | 90,565 | 51,375 | 78,357 | 124,732 | 97,426 | 75,358 | 34,564 | 35,549 | 39,089 | 67,057 | -4,629 | |
| Appropriation of the result | |||||||||||||||
9906 |
1.3m | 836,075 | 490,649 | 521,002 | 490,437 | 489,062 | 430,704 | 336,973 | 239,547 | 164,190 | 129,626 | 99,657 | 62,428 | -4,629 | |
14P |
675,690 | 490,649 | 436,002 | 430,437 | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | - | - | - | 5,580 | 1,860 | - | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | 5,580 | 1,860 | - | |
694/7 |
0 | 160,385 | 0 | 85,000 | 60,000 | 50,000 | 20,000 | 31,000 | - | - | - | - | - | - | |
694 |
0 | 160,385 | 0 | 85,000 | 60,000 | 50,000 | 20,000 | 31,000 | - | - | - | - | - | - | |
| Document | |||||||||||||||
The notes to these accounts have 19 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 23-02-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 23-02-2026 | 2026-00041923 | |
| 30-09-2024 | abbreviated format | 17-02-2025 | 2025-00035288 | |
| 30-09-2023 | abbreviated format | 14-03-2024 | 2024-00043818 | |
| 30-09-2022 | micro format | 17-02-2023 | 2023-00029279 | |
| 30-09-2021 | micro format | 23-02-2022 | 2022-06200479 | |
| 30-09-2020 | micro format | 24-02-2021 | 2021-06100273 | |
| 30-09-2019 | micro format | 24-01-2020 | 2020-02300314 | |
| 30-09-2018 | micro format | 12-02-2019 | 2019-05000011 | |
| 30-09-2017 | micro format | 22-02-2018 | 2018-05400072 | |
| 30-09-2016 | abbreviated format | 21-02-2017 | 2017-05200555 | |
| 30-09-2015 | abbreviated format | 29-02-2016 | 2016-05500079 | |
| 30-09-2014 | abbreviated format | 27-02-2015 | 2015-05600529 | |
| 30-09-2013 | abbreviated format | 21-03-2014 | 2014-07100347 | |
| 30-09-2012 | abbreviated format | 21-03-2013 | 2013-06900403 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 110,609 | 84,948 | 78,451 | 124,415 | 70,986 | 114,020 | 180,569 | 152,018 | 120,833 | 70,993 | 79,281 | 72,083 | 109,784 | 45 | ||
| 628,257 | 345,907 | 55,354 | 91,271 | 51,917 | 78,543 | 124,917 | 97,596 | 75,528 | 44,684 | 46,495 | 50,344 | 78,311 | -378 | ||
| 1,239 | 756 | 1.6m | 0 | 2,119 | 0 | 557 | 0 | -9,949 | 512 | 0 | 368,754 | 52,687 | 11,872 | ||
| 46,566 | 117,663 | 74,508 | 46,939 | 4,860 | 13,841 | 724 | 3,094 | 6,767 | -572 | 4,183 | -63,643 | 82,112 | - | ||
| 550,903 | 147,803 | 81,957 | 141,932 | 135,661 | 145,862 | 117,319 | 12,959 | -17,243 | -51,362 | -42,203 | -36,290 | 55,105 | 4,128 | ||
| 50.8% | 33.2% | 26.5% | 86.4% | 85.2% | 83.3% | 85.2% | 74.8% | 69.2% | 56.5% | 46.9% | 37.4% | 49.4% | 43.7% | ||
| 3.17 | 1.68 | 1.51 | 2.76 | 2.55 | 2.42 | 2.39 | 1.10 | 0.83 | 0.47 | 0.54 | 0.60 | 2.01 | 1.79 | ||
| 3.17 | 1.68 | 1.51 | 2.76 | 2.55 | 2.42 | 2.39 | 1.10 | 0.82 | 0.46 | 0.54 | 0.60 | 2.01 | 1.79 | ||
| 0.97 | 2.02 | 2.78 | 0.16 | 0.17 | 0.20 | 0.17 | 0.34 | 0.44 | 0.77 | 1.13 | 1.67 | 1.02 | 1.29 | ||
| 45.3% | 45.6% | 9.5% | 17.7% | 10.1% | 15.2% | 25.6% | 25.5% | 23.9% | 14.4% | 17.3% | 23.0% | 89.5% | -58.8% | ||
| 23.0% | 15.1% | 2.5% | 15.3% | 8.6% | 12.7% | 21.8% | 19.1% | 16.5% | 8.1% | 8.1% | 8.6% | 44.2% | -25.7% | ||
| 4.36 | 3.17 | 20.33 | 52.05 | - | - | - | - | - | - | - | - | - | - |
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.
| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €357,143 | €500,000 | €500,000 | - |
| Pledge on other assets, amount secured | €500,000 | €500,000 | €500,000 | - |
| Carrying value of the other pledged assets | €1.9m | €1.9m | €1.9m | - |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 |
|---|---|---|---|---|
| Tangible fixed assets | €1,239 | €756 | - | - |
| Financial fixed assets | - | - | €1.6m | - |
| €356 | €482 | €706 | €706 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 31% higher than in 2024 and the highest since 2022. It is the second rise in a row, after the fall in 2023.
Debt's share of the balance-sheet total falls from 66.8% to 49.2%. Equity is higher and debt is lower.
This company merged into VM VALUE on 19-08-2026.
| Name | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GOODWILL INVEST & BEHEER | 19.98% | 28.54% | 100% | |||||||||
Source: list of holdings in its own accounts
The connected companies are in the list below.
Deadline for the 2026 accounts: 30-04-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
On 10 October 2011, VM VALUE was incorporated.1 In 2019 the registered office moved to Meise.2 GOODWILL INVEST & BEHEER was merged into the company in 2026.3
| Establishment | Since | Unit number |
|---|---|---|
| Potaardestraat 28 registered office 1860 Meise 7010001 Activities of head offices | 06-10-2011 | 2.206.666.757 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 23050C0187/00X002 | 3,481 m² | 1 · 110 m² | 12.6 m · 3 |
If something looks wrong or is missing, please tell us.