VMH CONSTRUCT
Bankruptcy closedInactive since 09-09-2026; last annual accounts for fiscal year 2022.
Summary
VMH CONSTRUCT was declared bankrupt on 14-11-2023 (Ondernemingsrechtbank Gent, afdeling Kortrijk); the bankruptcy was closed by liquidation by judgment of 08-09-2026, published in the Belgian State Gazette on 14-09-2026.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 31-08-2023, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
31 d late
2021
80 d early
2020
89 d late
2019
62 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2022, abbreviated schema
Equity
€-350k▼ 10.9%
2021 · €-315k
2018: €361khighest in 5 years
2019: €279k▼ -22.9% vs 2018
2020: €-438k▼ -257% vs 2019lowest in 5 years
2021: €-315k▲ +28.0% vs 2020
2022: €-350k▼ -10.9% vs 2021
2018 → 2022
Total assets
€1.47M▼ 40.6%
2021 · €2.48M
2018: €2.18M
2019: €2.64M▲ +20.8% vs 2018highest in 5 years
2020: €2.59M▼ -1.7% vs 2019
2021: €2.48M▼ -4.3% vs 2020
2022: €1.47M▼ -40.6% vs 2021lowest in 5 years
2018 → 2022
Net result
€-34k
2021 · €123k
2018: €105k
2019: €-83k▼ -179% vs 2018
2020: €-717k▼ -767% vs 2019lowest in 5 years
2021: €123k▲ +117% vs 2020highest in 5 years
2022: €-34k▼ -128% vs 2021
2018 → 2022
Working capital
€-333k▼ 12.1%
2021 · €-297k
2018: €334k
2019: €713k▲ +114% vs 2018highest in 5 years
2020: €-387k▼ -154% vs 2019lowest in 5 years
2021: €-297k▲ +23.2% vs 2020
2022: €-333k▼ -12.1% vs 2021
2018 → 2022
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20182019202020212022Trend
Equity€361k-€279k▼ 22.9%€-438k€-315k▲ 28.0%€-350k▼ 10.9%
2018: €361khighest in 5 years
2019: €279k▼ -22.9% vs 2018
2020: €-438k▼ -257% vs 2019lowest in 5 years
2021: €-315k▲ +28.0% vs 2020
2022: €-350k▼ -10.9% vs 2021
Operating result€131k-€-58k€-650k▼ 1,028%€187k€22k▼ 88.4%
2018: €131k
2019: €-58k▼ -144% vs 2018
2020: €-650k▼ -1028% vs 2019lowest in 5 years
2021: €187k▲ +129% vs 2020highest in 5 years
2022: €22k▼ -88.4% vs 2021
Net result€105k-€-83k€-717k▼ 767%€123k€-34k
2018: €105k
2019: €-83k▼ -179% vs 2018
2020: €-717k▼ -767% vs 2019lowest in 5 years
2021: €123k▲ +117% vs 2020highest in 5 years
2022: €-34k▼ -128% vs 2021
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2022; 2022 is 88% below 2021.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €1.47M
Fixed assets
€113k ▼ 18.8%
Current assets
€1.36M ▼ 41.9%
Key figures and ratios
EBITDA
€46k▼
2021 · €216k
Cash flow
€-10k▼
2021 · €152k
Solvency
-23.8%▼
2021 · -12.7%
Current ratio
0.80▼
2021 · 0.89
Quick ratio
0.57▲
2021 · 0.33
Debt to equity
-5.21▲
2021 · -8.86
ROA
-2.3%▼
2021 · 5.0%
Interest coverage
0.80▼
2021 · 3.24
Debt
€1.82M▼
2021 · €2.80M
Debt ≤ 1 year
€1.69M▼
2021 · €2.64M
Debt > 1 year
€130k▼
2021 · €158k
Income taxes
€305▼
2021 · €401
Staff costs
€69k▼
2021 · €132k
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 · 2022 against 2021 · 62 lines
Balance sheet
Code20212022
Assets
Total assets20/58€2.48M€1.47M▼
Fixed assets21/28€139k€113k▼
Tangible fixed assets22/27€131k€107k▼
Land and buildings22€130k€106k▼
Plant, machinery and equipment23€500€250▼
Furniture and vehicles24€449€109▼
Financial fixed assets28€8k€7k▼
Current assets29/58€2.34M€1.36M▼
Amounts receivable after more than one year29€8k€8k=
Other amounts receivable291€8k€8k=
Stocks and contracts in progress3€1.47M€390k▼
Stocks30/36€1.47M€390k▼
Amounts receivable within one year40/41€654k€950k▲
Trade receivables40€651k€948k▲
Other amounts receivable41€2k€2k▼
Current investments50/53€64€64=
Cash at bank and in hand54/58€210k€10k▼
Deferred charges and accrued income490/1€4k€2k▼
Equity and liabilities
Total equity and liabilities10/49€2.48M€1.47M▼
Equity10/15€-315k€-350k▼
Contributions10/11€20k€20k=
Reserves13€280k€280k=
Non-distributable reserves130/1€2k€0▼
Reserves not available under the articles1311€2k€0▼
Tax-exempt reserves132€0-
Distributable reserves133€278k€280k▲
Profit (loss) carried forward14€-615k€-650k▼
Amounts payable17/49€2.80M€1.82M▼
Amounts payable after more than one year17€158k€130k▼
Financial debts170/4€158k€130k▼
Amounts payable within one year42/48€2.64M€1.69M▼
Current portion of amounts payable after more than one year42€80k€44k▼
Financial debts43€1.80M€661k▼
Credit institutions430/8€1.80M€661k▼
Trade debts44€407k€361k▼
Suppliers440/4€407k€361k▼
Advances received on contracts in progress46€0-
Taxes, remuneration and social security45€29k€39k▲
Taxes450/3€14k€15k▲
Remuneration and social security454/9€15k€25k▲
Other amounts payable47/48€321k€587k▲
Accrued charges and deferred income492/3€0-
Income statement
Code20212022
Non-recurring operating income76A€1k€100▼
Remuneration, social security and pensions62€132k€69k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€29k€24k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€3k
Other operating charges640/8€20k€6k▼
Non-recurring operating charges66A€12k€0▼
Gross operating margin9900€380k€124k▼
Operating profit (loss)9901€187k€22k▼
Financial income75/76B€3k€1k▼
Recurring financial income75€3k€1k▼
Financial charges65/66B€67k€57k▼
Recurring financial charges65€67k€57k▼
Profit (loss) for the period before taxes9903€123k€-34k▼
Income taxes67/77€401€305▼
Profit (loss) for the period9904€123k€-34k▼
Transfer from tax-exempt reserves789€160€0▼
Profit (loss) for the period to be appropriated9905€123k€-34k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-615k€-650k▼
Profit (loss) brought forward from the previous period14P€-738k€-615k▲
Social balance
Average headcount (FTE)90874.32.0▼
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €1k | €100 | ▼ 93.1% |
| Remuneration, social security and pensions62 | - | - | - | €132k | €69k | ▼ 47.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €83k | €59k | €44k | €29k | €24k | ▼ 16.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €3k | - |
| Other operating charges640/8 | - | - | - | €20k | €6k | ▼ 68.5% |
| Non-recurring operating charges66A | - | - | - | €12k | €0 | ▼ 100% |
| Gross operating margin9900 | €745k | €516k | €-377k | €380k | €124k | ▼ 67.2% |
| Operating profit (loss)9901 | €131k | €-58k | €-650k | €187k | €22k | ▼ 88.4% |
| Financial income75/76B | - | - | - | €3k | €1k | ▼ 44.2% |
| Recurring financial income75 | €48k | €9k | €926 | €3k | €1k | ▼ 44.2% |
| Financial charges65/66B | - | - | - | €67k | €57k | ▼ 14.0% |
| Recurring financial charges65 | €18k | €33k | €67k | €67k | €57k | ▼ 14.0% |
| Profit (loss) for the period before taxes9903 | €165k | €-82k | €-716k | €123k | €-34k | ▼ 128% |
| Income taxes67/77 | €60k | €707 | €900 | €401 | €305 | ▼ 24.0% |
| Profit (loss) for the period9904 | €105k | €-83k | €-717k | €123k | €-34k | ▼ 128% |
| Transfer from tax-exempt reserves789 | - | - | - | €160 | €0 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | €105k | €-83k | €-717k | €123k | €-34k | ▼ 128% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.18M | €2.64M | €2.59M | €2.48M | €1.47M | ▼ 40.6% |
| Fixed assets21/28 | €258k | €222k | €180k | €139k | €113k | ▼ 18.8% |
| Tangible fixed assets22/27 | €249k | €214k | €171k | €131k | €107k | ▼ 18.5% |
| Land and buildings22 | - | - | - | €130k | €106k | ▼ 18.2% |
| Plant, machinery and equipment23 | - | - | - | €500 | €250 | ▼ 50.0% |
| Furniture and vehicles24 | - | - | - | €449 | €109 | ▼ 75.8% |
| Financial fixed assets28 | €9k | €8k | €8k | €8k | €7k | ▼ 22.4% |
| Current assets29/58 | €1.93M | €2.42M | €2.41M | €2.34M | €1.36M | ▼ 41.9% |
| Amounts receivable after more than one year29 | - | - | - | €8k | €8k | = |
| Other amounts receivable291 | - | - | - | €8k | €8k | = |
| Stocks and contracts in progress3 | €394k | €898k | €1.39M | €1.47M | €390k | ▼ 73.4% |
| Stocks30/36 | - | - | - | €1.47M | €390k | ▼ 73.4% |
| Amounts receivable within one year40/41 | €1.24M | €1.21M | €735k | €654k | €950k | ▲ 45.4% |
| Trade receivables40 | - | - | - | €651k | €948k | ▲ 45.6% |
| Other amounts receivable41 | - | - | - | €2k | €2k | ▼ 19.5% |
| Current investments50/53 | €11k | €11k | €64 | €64 | €64 | = |
| Cash at bank and in hand54/58 | €257k | €273k | €233k | €210k | €10k | ▼ 95.4% |
| Deferred charges and accrued income490/1 | - | - | - | €4k | €2k | ▼ 46.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.18M | €2.64M | €2.59M | €2.48M | €1.47M | ▼ 40.6% |
| Equity10/15 | €361k | €279k | €-438k | €-315k | €-350k | ▼ 10.9% |
| Contributions10/11 | €20k | €20k | - | €20k | €20k | = |
| Reserves13 | €341k | €280k | €280k | €280k | €280k | = |
| Non-distributable reserves130/1 | - | - | - | €2k | €0 | ▼ 100% |
| Reserves not available under the articles1311 | - | - | - | €2k | €0 | ▼ 100% |
| Tax-exempt reserves132 | - | - | - | €0 | - | - |
| Distributable reserves133 | - | - | - | €278k | €280k | ▲ 0.7% |
| Profit (loss) carried forward14 | - | €-21k | €-738k | €-615k | €-650k | ▼ 5.6% |
| Amounts payable17/49 | €1.82M | €2.36M | €3.03M | €2.80M | €1.82M | ▼ 34.8% |
| Amounts payable after more than one year17 | €213k | €278k | €231k | €158k | €130k | ▼ 17.4% |
| Financial debts170/4 | - | - | - | €158k | €130k | ▼ 17.4% |
| Amounts payable within one year42/48 | €1.59M | €1.70M | €2.80M | €2.64M | €1.69M | ▼ 35.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €80k | €44k | ▼ 44.5% |
| Financial debts43 | - | - | - | €1.80M | €661k | ▼ 63.3% |
| Credit institutions430/8 | - | - | - | €1.80M | €661k | ▼ 63.3% |
| Trade debts44 | €1.10M | €786k | €609k | €407k | €361k | ▼ 11.5% |
| Suppliers440/4 | - | - | - | €407k | €361k | ▼ 11.5% |
| Advances received on contracts in progress46 | - | - | - | €0 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €29k | €39k | ▲ 34.7% |
| Taxes450/3 | - | - | - | €14k | €15k | ▲ 3.1% |
| Remuneration and social security454/9 | - | - | - | €15k | €25k | ▲ 64.7% |
| Other amounts payable47/48 | - | - | - | €321k | €587k | ▲ 83.2% |
| Accrued charges and deferred income492/3 | - | - | - | €0 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €105k | €-83k | €-717k | €123k | €-34k | ▼ 128% |
| + Depreciation and write-downs630 | €83k | €59k | €44k | €29k | €24k | ▼ 16.2% |
| Operating cash flow (approximation) | €188k | €-24k | €-674k | €152k | €-10k | ▼ 107% |
| Investment in fixed assets (approximation) | - | €-23k | €-1k | €12k | €2k | ▼ 83.7% |
| Change in cash | - | €16k | €-40k | €-23k | €-201k | ▼ 786% |
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
2026
14-09
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Gent, afdeling Kortrijk · event 08-09-2026
2023
20-11
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Kortrijk · event 14-11-2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
12-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €123k
Net result €123k after 2 loss-making years.
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 89 days late
2020
31-12
Financial
Weakest financial yearnet €-717k
Net result drops to €-717k, the lowest in the series.
01-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 62 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 29 days late
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
2016
29-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
31-07
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
2014
20-08
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 20 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Harelbeke
Ground area
99 m²
Building footprint
95 m²
Volume, LiDAR
24 m³
Parcel 34013A0854/00E000, Flanders · tallest building 4.9 m. Linked by address, not a title deed.
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34013A0854/00E000 | Flanders | 99 m² | 1 · 95 m² | 4.9 m |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | FREDERIQUE VANRYCKEGHEM GUIDO GEZELLE-
STRAAT 10, 8790 WAREGEM |
14-11-2023 → 08-09-2026 |