VNM CONSTRUCT
ActiveThe computed 12-month bankruptcy probability of VNM CONSTRUCT is 2.5% (moderate). The 2024 annual accounts show equity of €52k and a net result of €-32k. Equity remains stable across the filed fiscal years (±2.1% per year). Its solvency ranks better than 75% of 36376 sector peers (fiscal year 2024). The company has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
45
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability0▼-7
Solvency94▼-6
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
2.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity ample (current ratio 2.97 against 10.25 in 2023; short-term debt: 31% and cash: 5.7% of total assets), and 31% 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 · 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 2024Solvency, return and age of the figures
Solvency
69%
Return on assets
-41.9%
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 €-32k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 20-08-2025, 20 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
20 d late
2023
26 d late
2022
21 d late
2021
23 d late
2020
9 d late
2019
10 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€52k▼ 37.8%
2023 · €84k
2018: €74k
2019: €77k
2020: €81k
2021: €82k
2022: €93k
2023: €84k
2018 → 2024
Total assets
€75k▼ 19.2%
2023 · €93k
2018: €129k
2019: €93k
2020: €98k
2021: €111k
2022: €108k
2023: €93k
2018 → 2024
Net result
€-32k▼ 257%
2023 · €-9k
2018: €17k
2019: €3k
2020: €5k
2021: €343
2022: €11k
2023: €-9k
2018 → 2024
Working capital
€46k▼ 40.3%
2023 · €77k
2018: €105k
2019: €78k
2020: €85k
2021: €76k
2022: €86k
2023: €77k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€81k-€82k▲ 0.4%€93k▲ 13.1%€84k▼ 9.6%€52k▼ 37.8%
Operating result€6k-€2k▼ 74.1%€14k▲ 825%€-8k€-31k▼ 275%
Net result€5k-€343▼ 92.7%€11k▲ 3,020%€-9k€-32k▼ 257%
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 €31k in 2024 against €8k 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 €75k
Fixed assets
€6k▼ 24.0%
Current assets
€69k▼ 18.7%
Equity and liabilities €75k
Equity
€52k▼ 37.8%
Debt
€23k▲ 142%
The debt ratio rises from 10.3% to 31.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-26k▼
2023 · €-4k
Cash flow
€-27k▼
2023 · €-4k
Solvency
69.0%▼
2023 · 89.7%
Current ratio
2.97▼
2023 · 10.25
Quick ratio
2.90▼
2023 · 9.57
Debt / equity
0.45▲
2023 · 0.12
ROE
-60.8%▼
2023 · -10.6%
ROA
-41.9%▼
2023 · -9.5%
Interest coverage
-39.87▼
2023 · -5.98
Debt
€23k▲
2023 · €10k
Debt ≤ 1 year
€23k▲
2023 · €8k
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€93k€75k▼
Fixed assets21/28€8k€6k▼
Tangible fixed assets22/27€8k€6k▼
Furniture and vehicles24€21€2k▲
Leasing and similar rights25€8k€4k▼
Current assets29/58€85k€69k▼
Stocks and contracts in progress3€6k€2k▼
Stocks30/36€6k€2k▼
Amounts receivable within one year40/41€55k€58k▲
Trade receivables40€37k€47k▲
Other amounts receivable41€18k€11k▼
Current investments50/53€5k€5k=
Cash at bank and in hand54/58€19k€4k▼
Deferred charges and accrued income490/1€711€675▼
Equity and liabilities
Total equity and liabilities10/49€93k€75k▼
Equity10/15€84k€52k▼
Contributions10/11€7k€7k=
Reserves13€28k€28k=
Non-distributable reserves130/1€12k€12k=
Reserves not available under the articles1311€12k€12k=
Tax-exempt reserves132€16k€16k=
Profit (loss) carried forward14€49k€18k▼
Amounts payable17/49€10k€23k▲
Amounts payable after more than one year17€1k-
Financial debts170/4€1k-
Amounts payable within one year42/48€8k€23k▲
Current portion of amounts payable after more than one year42€5k€1k▼
Trade debts44€3k€22k▲
Suppliers440/4€3k€22k▲
Taxes, remuneration and social security45€900€300▼
Taxes450/3€900€300▼
Other amounts payable47/48-€48
Income statement
Code20232024
Non-recurring operating income76A€9k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€5k▲
Other operating charges640/8€512€612▲
Gross operating margin9900€-3k€-26k▼
Operating profit (loss)9901€-8k€-31k▼
Financial income75/76B€123€277▲
Recurring financial income75€123€277▲
Financial charges65/66B€650€658▲
Recurring financial charges65€650€658▲
Profit (loss) for the period before taxes9903€-9k€-32k▼
Profit (loss) for the period9904€-9k€-32k▼
Profit (loss) for the period to be appropriated9905€-9k€-32k▼
Appropriation of the result
Profit (loss) to be appropriated9906€49k€18k▼
Profit (loss) brought forward from the previous period14P€58k€49k▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
20-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 20 days late
2024
31-12
Financial
Weakest financial yearnet €-32k
Net result drops to €-32k, the lowest in the series.
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
21-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 21 days late
2022
31-12
Financial
Liquidity doublescurrent ratio 10.27
Current ratio from 5.10 to 10.27; short-term debt falls from €18k to €9k.
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 23 days late
2021
09-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 9 days late
2020
10-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 10 days late
2019
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
11-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
10-11
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 102 days late
2016
07-09
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 38 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Vorst · 1 establishment unit since 2014
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.
Boergondiëstraat 381190 VorstGround area
1,356 m²
Building footprint
408 m²
Volume, LiDAR
6,964 m³
2 parcels, Brussels · tallest building 24.9 m, ±7 floors. Linked by address, not a title deed.
1 establishment unit
VNM CONSTRUCT
since 20142.238.363.288
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21382C0227/00F034 | Brussels | 1,085 m² | 1 · 171 m² | 14.5 m · 4 fl. |
| 21392B0026/00L008 | Brussels | 270 m² | 1 · 237 m² | 24.9 m · 7 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
967600R6KS3GOYP1ZM78
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Of 7,292 companies in sector 43350 we hold annual accounts for 2,361. 2,006 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded23-09-2014
Fiscal year end31-12
Activities, NACEBEL
43350Other building finishing work
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.