VNH Concept
ActiveSummary
VNH Concept has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €159,745 and a net result of -€23,218. Equity is growing by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 84% of 37965 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability3▼-63
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity ample (current ratio 7.35 against 8.46 in 2023; short-term debt: 13.5% and cash: 97.6% of total assets), and 13.5% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← 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 2024Solvency, return and age of the figures
Solvency
86.5%
Return on assets
-12.6%
Age of the figures
21 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year -€23,218
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 24-06-2026, 37 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
37 d early
2024
35 d early
2023
37 d early
2022
47 d early
2021
39 d early
2020
36 d early
2019
36 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 38 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
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. Usually files around 24 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2024, micro schema
Equity
€159,745▼ 12.7%
2023 · €182,962
Total assets
€184,657▼ 10.7%
2023 · €206,861
Net result
-€23,218▼ 517%
2023 · -€3,762
Working capital
€158,205▼ 11.3%
2023 · €178,387
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€10,680▲ 32.4%€26,517▲ 148%€25,993▼ 2.0%-€2,611-€22,931▼ 778%
Net result€6,887within the sector's middle half▲ 67.7%€17,111within the sector's middle half▲ 148%€16,775within the sector's middle half▼ 2.0%-€3,762below the sector's middle half-€23,218below the sector's middle half▼ 517%
Equity€152,838within the sector's middle half▲ 4.7%€169,949within the sector's middle half▲ 11.2%€186,724within the sector's middle half▲ 9.9%€182,962within the sector's middle half▼ 2.0%€159,745within the sector's middle half▼ 12.7%
Total assets€179,013within the sector's middle half▲ 1.7%€203,780within the sector's middle half▲ 13.8%€227,055within the sector's middle half▲ 11.4%€206,861within the sector's middle half▼ 8.9%€184,657within the sector's middle half▼ 10.7%
Debt€26,174▼ 13.0%€33,831▲ 29.3%€40,331▲ 19.2%€23,899▼ 40.7%€24,912▲ 4.2%
Working capital€112,381within the sector's middle half▲ 9.0%€140,614above the sector's middle half▲ 25.1%€167,048above the sector's middle half▲ 18.8%€178,387above the sector's middle half▲ 6.8%€158,205above the sector's middle half▼ 11.3%
Solvency85.4%above the sector's middle half▲ 2.5pp83.4%above the sector's middle half▼ 2.0pp82.2%above the sector's middle half▼ 1.2pp88.4%above the sector's middle half▲ 6.2pp86.5%above the sector's middle half▼ 1.9pp
Current ratio5.44above the sector's middle half▼ 0.965.16above the sector's middle half▼ 0.285.14above the sector's middle half▼ 0.018.46above the sector's middle half▲ 3.327.35above the sector's middle half▼ 1.11
Return on assets (ROA)3.8%within the sector's middle half▲ 1.5pp8.4%within the sector's middle half▲ 4.5pp7.4%within the sector's middle half▼ 1.0pp-1.8%below the sector's middle half▼ 9.2pp-12.6%below the sector's middle half▼ 10.8pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
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 €22,931 in 2024 against €2,611 in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €184,657
Fixed assets
€1,540 ▼ 66.4%
Current assets
€183,117 ▼ 9.5%
Equity and liabilities €184,657
Equity
€159,745 ▼ 12.7%
Debt
€24,912 ▲ 4.2%
Debt's share of the balance-sheet total rises from 11.6% to 13.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€19,895▼
2023 · €12,489
Cash flow
-€20,182▼
2023 · €11,338
Debt to equity
0.16▲
2023 · 0.13
ROE
-14.5%▼
2023 · -2.1%
Interest coverage
-100.93▼
2023 · 64.35
Debt ≤ 1 year
€24,912▲
2023 · €23,899
Income taxes
€886▼
2023 · €1,425
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,805 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 88% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
2.0%
went bankrupt
9.8%
stopped otherwise
88%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 4,805 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,631 | €14,157 | €14,627 | €15,100 | €3,036 | ▼ 79.9% |
| Other operating charges640/8 | - | €1,206 | €856 | €914 | €986 | ▲ 7.8% |
| Gross operating margin9900 | €29,715 | €41,880 | €41,475 | €13,404 | -€18,909 | ▼ 241% |
| Operating profit (loss)9901 | €10,680 | €26,517 | €25,993 | -€2,611 | -€22,931 | ▼ 778% |
| Financial income75/76B | - | €30 | - | €469 | €797 | ▲ 70.0% |
| Recurring financial income75 | €51 | €30 | - | €469 | €797 | ▲ 70.0% |
| Financial charges65/66B | - | €232 | €203 | €194 | €197 | ▲ 1.6% |
| Recurring financial charges65 | €327 | €232 | €203 | €194 | €197 | ▲ 1.6% |
| Profit (loss) for the period before taxes9903 | €10,404 | €26,315 | €25,790 | -€2,336 | -€22,332 | ▼ 856% |
| Income taxes67/77 | €3,517 | €9,204 | €9,015 | €1,425 | €886 | ▼ 37.8% |
| Profit (loss) for the period9904 | €6,887 | €17,111 | €16,775 | -€3,762 | -€23,218 | ▼ 517% |
| Profit (loss) for the period to be appropriated9905 | €6,887 | €17,111 | €16,775 | -€3,762 | -€23,218 | ▼ 517% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €179,013 | €203,780 | €227,055 | €206,861 | €184,657 | ▼ 10.7% |
| Fixed assets21/28 | €41,303 | €29,335 | €19,676 | €4,576 | €1,540 | ▼ 66.4% |
| Tangible fixed assets22/27 | €41,303 | €29,335 | €19,676 | €4,576 | €1,540 | ▼ 66.4% |
| Plant, machinery and equipment23 | - | €287 | - | - | - | - |
| Furniture and vehicles24 | - | €29,047 | €19,676 | €4,576 | €1,540 | ▼ 66.4% |
| Current assets29/58 | €137,710 | €174,445 | €207,380 | €202,286 | €183,117 | ▼ 9.5% |
| Amounts receivable within one year40/41 | €8,736 | €124 | €17,460 | €1,195 | €1,961 | ▲ 64.1% |
| Other amounts receivable41 | - | €124 | €17,460 | €1,195 | €1,961 | ▲ 64.1% |
| Cash at bank and in hand54/58 | €126,063 | €173,051 | €188,677 | €200,891 | €180,288 | ▼ 10.3% |
| Deferred charges and accrued income490/1 | - | €1,271 | €1,243 | €199 | €868 | ▲ 336% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €179,013 | €203,780 | €227,055 | €206,861 | €184,657 | ▼ 10.7% |
| Equity10/15 | €152,838 | €169,949 | €186,724 | €182,962 | €159,745 | ▼ 12.7% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €122,360 | €138,360 | €154,360 | €154,360 | €104,360 | ▼ 32.4% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | €136,500 | €152,500 | €152,500 | €102,500 | ▼ 32.8% |
| Profit (loss) carried forward14 | €11,878 | €12,989 | €13,764 | €10,002 | €36,785 | ▲ 268% |
| Amounts payable17/49 | €26,174 | €33,831 | €40,331 | €23,899 | €24,912 | ▲ 4.2% |
| Amounts payable after more than one year17 | €845 | - | - | - | - | - |
| Amounts payable within one year42/48 | €25,329 | €33,831 | €40,331 | €23,899 | €24,912 | ▲ 4.2% |
| Current portion of amounts payable after more than one year42 | - | €845 | - | - | - | - |
| Trade debts44 | €1,703 | €9,562 | €7,567 | €61 | €5,106 | ▲ 8,339% |
| Suppliers440/4 | - | €9,562 | €7,567 | €61 | €5,106 | ▲ 8,339% |
| Taxes, remuneration and social security45 | - | €9,000 | €12,931 | €4,365 | €4,930 | ▲ 12.9% |
| Taxes450/3 | - | €9,000 | €12,931 | €4,365 | €4,930 | ▲ 12.9% |
| Other amounts payable47/48 | - | €14,424 | €19,833 | €19,473 | €14,877 | ▼ 23.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,887 | €17,111 | €16,775 | -€3,762 | -€23,218 | ▼ 517% |
| + Depreciation and write-downs630 | €17,631 | €14,157 | €14,627 | €15,100 | €3,036 | ▼ 79.9% |
| Operating cash flow (approximation) | €24,518 | €31,268 | €31,402 | €11,338 | -€20,182 | ▼ 278% |
| Investment in fixed assets (approximation) | - | -€2,189 | -€4,968 | €0 | €0 | - |
| Change in cash | - | €46,987 | €15,626 | €12,214 | -€20,603 | ▼ 269% |
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
Next filing, fiscal year 2026, expected by
2026
24-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
26-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€23,218
Net result drops to -€23,218, the lowest in the series.
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
14-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
22-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €17,111 ▲148%
Operating result €26,517, net result €17,111, both a record.
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €150,000Eq €152,838 ▲4.7%
3 profitable years in a row build equity to €152,838.
25-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
06-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial 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, Watermaal-Bosvoorde · 1 establishment unit since 2008
Ground area
4,413 m²
Building footprint
1,296 m²
Volume, LiDAR
11,372 m³
2 parcels, Brussels · tallest building 14.2 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
VNH Concept
since 20082.174.158.592
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21342B0060/00N000 | Brussels | 3,246 m² | 1 · 1,173 m² | 14.2 m · 3 fl. |
| 21017D0024/00Y010 | Brussels | 1,167 m² | 1 · 123 m² | 8.9 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 82,641 companies in sector 70200 we hold annual accounts for 52,623. 40,773 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded04-11-2008
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Contact
Phone
0475/744459Sint-Agatha-Berchem
E-invoicing
Reachable via Peppol
Peppol ID
0208:0807557563
Registered
10-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.