VMA SOLAR
ActiveThe computed 12-month bankruptcy probability of VMA SOLAR is 3.3% (moderate). The annual accounts of VMA SOLAR for fiscal year 2025 show a net loss of 91% of the equity at the start of that year. The 2025 annual accounts show equity of €758 and a net result of €-7k. Equity is shrinking by ~52.3% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 10% of 27676 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
42
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability50▲+50
Solvency28▼-38
Growth32=
Track record94
Bankruptcy probability, 12 months
3.3%
Moderate
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.13 against 1.26 in 2024; short-term debt: 29.1% and cash: 15.5% of total assets), and 97.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
+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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
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
2.8%
Return on assets
-26.8%
Age of the figures
9 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
22232425
2022 to 2025 · latest year €-7k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 27676 sector peers (2025).
NBB · sector comparisonPosition among 27676 sector peers
Solvency
better than 10%
← 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 03-06-2026, 58 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
58 d early
2024
31 d early
2023
29 d early
2022
31 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
20-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€758▼ 90.6%
2024 · €8k
2022: €15k
2023: €30k
2024: €8k
2022 → 2025
Total assets
€27k▲ 38.5%
2024 · €20k
2022: €18k
2023: €34k
2024: €20k
2022 → 2025
Net result
€-7k▲ 66.4%
2024 · €-22k
2022: €14k
2023: €15k
2024: €-22k
2022 → 2025
Working capital
€1k▼ 64.7%
2024 · €3k
2022: €11k
2023: €19k
2024: €3k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€15k-€30k▲ 99.4%€8k▼ 73.0%€758▼ 90.6%
Operating result€17k-€20k▲ 16.9%€-22k€-6k▲ 70.8%
Net result€14k-€15k▲ 10.4%€-22k€-7k▲ 66.4%
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 €6k in 2025 against €22k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €27k
Fixed assets
€18k▲ 259%
Current assets
€9k▼ 38.4%
Equity and liabilities €27k
Equity
€758▼ 90.6%
Debt
€27k▲ 128%
The debt ratio rises from 59.0% to 97.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€6k▲
2024 · €-16k
Cash flow
€5k▲
2024 · €-16k
Solvency
2.8%▼
2024 · 41.0%
Current ratio
1.13▼
2024 · 1.26
Quick ratio
1.13▼
2024 · 1.26
ROA
-26.8%▲
2024 · -110.6%
Interest coverage
6.58▲
2024 · -110.53
Debt
€27k▲
2024 · €12k
Debt ≤ 1 year
€8k▼
2024 · €12k
Debt > 1 year
€19k
Income taxes
€129▲
2024 · €-60
Equity ratios withheld: equity of €758 is too small for a meaningful ratio.
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€20k€27k▲
Fixed assets21/28€5k€18k▲
Tangible fixed assets22/27€5k€18k▲
Furniture and vehicles24€5k€17k▲
Leasing and similar rights25-€1k
Financial fixed assets28€180-
Current assets29/58€15k€9k▼
Amounts receivable within one year40/41€6k€4k▼
Trade receivables40€5k€2k▼
Other amounts receivable41€951€1k▲
Cash at bank and in hand54/58€8k€4k▼
Deferred charges and accrued income490/1€925€1k▲
Equity and liabilities
Total equity and liabilities10/49€20k€27k▲
Equity10/15€8k€758▼
Contributions10/11€2k€2k=
Reserves13€28k€28k=
Distributable reserves133€28k€28k=
Profit (loss) carried forward14€-22k€-29k▼
Amounts payable17/49€12k€27k▲
Amounts payable after more than one year17-€19k
Financial debts170/4-€19k
Amounts payable within one year42/48€12k€8k▼
Current portion of amounts payable after more than one year42-€7k
Trade debts44€9k€350▼
Suppliers440/4€9k€350▼
Taxes, remuneration and social security45€3k€353▼
Taxes450/3€3k€141▼
Remuneration and social security454/9-€212
Income statement
Code20242025
Remuneration, social security and pensions62€15k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€12k▲
Other operating charges640/8€1k€2k▲
Gross operating margin9900€603€8k▲
Operating profit (loss)9901€-22k€-6k▲
Financial income75/76B-€1
Recurring financial income75-€1
Financial charges65/66B€143€850▲
Recurring financial charges65€143€850▲
Profit (loss) for the period before taxes9903€-22k€-7k▲
Income taxes67/77€-60€129▲
Profit (loss) for the period9904€-22k€-7k▲
Profit (loss) for the period to be appropriated9905€-22k€-7k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-22k€-29k▼
Profit (loss) brought forward from the previous period14P-€-22k
The notes to these accounts (9 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
03-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-22k ▼246%
Net result drops to €-22k, the lowest in the series; recovery starts the following year.
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2022net €15k ▲10.4%
Operating result €20k, net result €15k, both a record.
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Bornem · 1 establishment unit since 2022
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.
Dulftstraat(BOR) 582880 BornemGround area
168 m²
Building footprint
67 m²
Volume, LiDAR
470 m³
Parcel 12362G0022/00L003, Flanders · tallest building 9.7 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
VMA SOLAR
since 20222.331.852.383
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12362G0022/00L003 | Flanders | 168 m² | 1 · 67 m² | 9.7 m · 3 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.
Similar companies · same sector, comparable size
Ivex Capital International
BE 0444.358.582
Sint-Agatha-Berchem · Eq €786
DMR klus en onderhoud
BE 0645.833.918
Turnhout · Eq €809
DON SMY
BE 0790.698.072
Brugge · Eq €862
3B Projects
BE 0656.891.522
Wingene · Eq €898
Vantuyckom-Morlion
BE 0451.569.642
Brugge · Eq €915
Of 4,097 companies in sector 43240 we hold annual accounts for 1,631. 115 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded07-06-2022
Fiscal year end31-12
Activities, NACEBEL
43240Other construction installation
43299Specialised construction activities
43212Electrical installation work in industrial facilities
43990Other specialised construction activities
43999Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.