Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of VO COMMUNICATION is 0.3% (very low). The 2024 annual accounts show equity of €2.68M and a net result of €52k. Equity is growing by ~17.1% per year across the filed fiscal years. Its solvency ranks better than 48% of 198 sector peers (fiscal year 2024). The company has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 7 annual accounts.
Signals
1 signal · with evidenceConsistently profitable
Positive net result in the two most recent financial years (2023 and 2024).
View the result trend Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.
Filing behaviour
From the deposit records, complete market-wideDeadline passed, not yet counted as missing
The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 19 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.
Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-07-2025, 2 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.
How we compute the deadline
The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.
Deadline per financial year
| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 31-12-2025 | 31-07-2026 | nothing on record | not filed | - |
| 31-12-2024 | 31-07-2025 | 29-07-2025 | 2 d early | 2025-00325279 |
| 31-12-2023 | 31-07-2024 | 26-07-2024 | 5 d early | 2024-00298812 |
| 31-12-2022 | 31-07-2023 | 30-06-2023 | 31 d early | 2023-00182622 |
| 31-12-2021 | 31-07-2022 | 24-06-2022 | 37 d early | 2022-20097341 |
| 31-12-2020 | 31-07-2021 | 17-06-2021 | 44 d early | 2021-21200134 |
| 31-12-2019 | 31-07-2020 | 24-09-2020 | 55 d late | 2020-55600124 |
| 31-12-2018 | 31-07-2019 | 15-07-2019 | 16 d early | 2019-33500105 |
| 31-12-2017 | 31-07-2018 | 11-07-2018 | 20 d early | 2018-32200376 |
| 31-12-2016 | 31-07-2017 | 14-07-2017 | 17 d early | 2017-32100076 |
| 31-12-2015 | 31-07-2016 | 25-07-2016 | 6 d early | 2016-35600060 |
Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.
Trust signals
2 signalsLong-established
Founded in 1992, 34 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone0.3%
Very low
0%0,5%1,5%4%10%≥25%
Higher-failure-rate region
+Long track record
−Lower-failure-rate sector
−
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Financials
Turnover€11.43M-23.1%
EBIT margin1.5%-4.7pp
Net result€52k-92.4%
Working capital€2.65M-6.4%
Annual accounts & ratios
Source: NBB · 2024Annual accounts filed on 29-07-2025 with the NBB · fiscal year 2024 · volledig
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~17.1%/year over 7 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2024 · NACE 82 · compared within the same schema type (full schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 28.5% | 32.1% | |
| Net result | €52k | €24k | |
| Equity | €2.68M | €120k | |
| Staff costs | €1.09M | €199k | |
| Employees (FTE) | 18.7 | 3.1 |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
P48
Stable position over 2020-2024
· n=97-198
P61
Stable position over 2020-2024
· n=96-198
P81
Stable position over 2020-2024
· n=97-198
P80
Stable position over 2021-2024
· n=65-101
Describes the position versus peers, not a forecast.
€11.43M
-23.1%
18-24
€169k
-81.6%
18-24
€52k
-92.4%
18-24
€55k
-92.0%
18-24
€9.42M
-45.4%
18-24
€2.68M
-5.4%
18-24
€2.65M
-6.4%
18-24
19
+5.1%
18-24
Show 14 other metrics
€1.09M
-5.7%
18-24
€69k
-67.4%
18-24
€200k
-85.6%
18-24
€6.74M
-53.2%
18-24
€6.73M
-53.3%
18-24
1.39
+16.5%
18-24
1.33
+12.3%
18-24
28.5%
+73.1%
18-24
2.51
-50.5%
18-24
1.9%
-92.0%
18-24
0.6%
-86.1%
18-24
0.5%
-90.1%
18-24
1.5%
-76.1%
18-24
2.50
-89.6%
18-24
Figures by fiscal year
| Fiscal year | 2024 |
|---|---|
| Deposit | volledig |
| Revenue | €11.43M |
| EBITDA | €169k |
| Net profit | €52k |
| Cash flow | €55k |
| Staff costs | €1.09M |
| Income taxes | €69k |
| Dividends | €200k |
| Total assets | €9.42M |
| Equity | €2.68M |
| Debt | €6.74M |
| of which ≤ 1y | €6.73M |
| of which > 1y | - |
| Working capital | €2.65M |
| Employees (FTE) | 18.7 |
Ratios (computed)
| 2024 | |
|---|---|
| Current ratio | 1.39 |
| Quick ratio | 1.33 |
| Working capital ratio | 28.2% |
| Solvency | 28.5% |
| Debt / equity | 2.51 |
| Long-term debt ratio | - |
| Interest coverage | 2.50 |
| Gross margin | 31.2% |
| Net margin | 0.5% |
| ROA | 0.6% |
| ROE | 1.9% |
| EBITDA margin | 1.5% |
| Days sales outstanding | 154d |
| Days payable outstanding | 98d |
| Inventory turnover | 18.74 |
| Days inventory (DSI) | 19d |
Balance-sheet composition 2024
Full annual accounts (26 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €9.42M |
| Fixed assets | 21/28 | €36k |
| Intangible fixed assets | 21 | €25k |
| Tangible fixed assets | 22/27 | €3k |
| Financial fixed assets | 28 | €8k |
| Current assets | 29/58 | €9.38M |
| Stocks & contracts in progress | 3 | €419k |
| Amounts receivable within one year | 40/41 | €8.12M |
| Investments | 50/53 | €430k |
| Cash & bank | 54/58 | €384k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €9.42M |
| Equity | 10/15 | €2.68M |
| Contributions / capital | 10/11 | €75k |
| Reserves | 13 | €1.61M |
| Accumulated profits (losses) | 14 | €993k |
| Amounts payable | 17/49 | €6.74M |
| Amounts payable within one year | 42/48 | €6.73M |
| Trade debts payable within one year | 44 | €2.12M |
| Income statement | ||
| Turnover | 70 | €11.43M |
| Operating result | 9901 | €166k |
| Financial income | 75 | €25k |
| Financial charges | 65 | €70k |
| Result before taxes | 9903 | €120k |
| Income taxes | 67/77 | €69k |
| Net result for the period | 9904 | €52k |
| Result to be appropriated | 9905 | €52k |
This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2024 · computed65
/ 100
Healthy
Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.
See plans →Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Directors
Directors & mandates
under verification21 of this company's 21 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing below: a director who resigned there may therefore still show here as sitting. See the acts under Publications.
Directors derived from a single State Gazette act, under verification
All 3 current directors first appear in the same act (22027140). Founders or capital subscribers may have been counted as directors here; the real board composition is being verified.
Current directors & mandates
-
Alexandre VelleuerDirectorState Gazette act 22027140 (28-02-2022)Current28-02-2022 → present
5 events
- 28-02-2022 Resigned· Director
- 28-02-2022 Appointed· Director
- 28-02-2022 Resigned· Daily management delegate
- 08-04-2016 Appointed· Managing director
- 17-09-2015 Appointed· Director
-
HOLGERSSON CONSULT SRLLegal entityDaily management delegateState Gazette act 22027140 (28-02-2022)Current28-02-2022 → present
-
Xavier VincentDirectorState Gazette act 22027140 (28-02-2022)Current28-02-2022 → present
Historic, not recently confirmed (2)
These mandates remain open in the register but have not been confirmed by a new act in over six years. They do not count as active directors.
-
CDP DE WULF & CoAuditorState Gazette act 18048320 (20-03-2018)Not recently confirmedlast confirmed in an act from 2018
-
Vinciane-Noélle Morel de WestgaverDirectorState Gazette act 15131698 (17-09-2015)Not recently confirmedlast confirmed in an act from 2015
Former directors (4)
-
Vinciane Morel de WestgaverDirectorState Gazette act 23101348 (04-08-2023)Former- → 04-08-2023
-
Michel CulotDirectorState Gazette act 22027140 (28-02-2022)Former- → 28-02-2022
-
Patrick PARMENTIERDirectorState Gazette act 22027140 (28-02-2022)Former- → 28-02-2022
2 events
- 28-02-2022 Resigned· Director
- 15-06-2017 Resigned· Managing director
-
Michel BERNARDDirectorState Gazette act 18110949 (17-07-2018)Former- → 17-07-2018
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.
Statutory auditor
2 auditors| Statutory auditor | IRE/IBR number | Tenure |
|---|---|---|
| CDP De Wulf & C°Current Commissaire |
- | 04-08-2023 → present |
Show 1 earlier auditors
| Vincent DE WULF Commissaire succeeded by CDP De Wulf & C° in 2023 |
- | 28-05-2021 → 04-08-2023 |
Appointed statutory auditor from the Belgian State Gazette. The IRE/IBR number refers to the register of the Institute of Registered Auditors.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Organisatie van congressen en beurzen(82300) |
| Legal form | Public limited company(014) |
| Incorporation | 14-07-1992 |
| Status | Active |
| Postal code | 1000 |
Structure & network
Locations & real estate
Registered office
on the map · from the address registerEstablishment units
1 locationV.O. COMMUNICATION
since 19922.058.762.939
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area5,796 m²
Buildings1
Building footprint376 m²
Volume (LiDAR)6,334 m³
Tallest building20.9 m · ±6 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21809K1258/00G000 | Brussels | 5,796 m² | 1 · 376 m² | 20.9 m · 6 fl. |
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgisch Staatsblad · acts
15 acts Address history · 2
14-10-2024
Registered-office move
24-01-2018
Registered-office move
All acts · 15
updated 1 year ago
2025
05-08-2025 Publication in the Belgian Official Gazette, Miscellaneous
Summary:
completedNotary:
Peter VAN MELKEBEKE · BruxellesFirm:
Berquin Notaires
06-06-2025 Publication in the Belgian Official Gazette, Miscellaneous
Summary:
proposalNotary:
Bjorn Delmoitié · Bruxelles
2024
14-10-2024 Registered office moved from Uccle to Bruxelles
- Rue de Stalle 142 - 1180 Uccle → 1000 Bruxelles, Rue Haute 139
Notary:
SRL Euracle · Bruxelles
05-06-2024 CDP De Wulf & C° appointed as commissaire
2023
20-10-2023 Articles of association amended
Summary:
v3.2
04-08-2023 1 director appointed, 1 resigning
- CDP De Wulf & C°, Commissaire
- Vinciane Morel de Westgaver, Bestuurder
Summary:
v3.2
2022
28-02-2022 3 directors appointed, 4 resigning
- Xavier Vincent, Bestuurder
- Alexandre Velleuer, Bestuurder
- HOLGERSSON CONSULT SRL, Dagelijks bestuur
- Michel Culot, Bestuurder
- Patrick Parmentier, Bestuurder
- Alexandre Velleuer, Bestuurder
- Alexandre Velleuer, Dagelijks bestuur
Summary:
v3.2
2021
28-05-2021 Vincent DE WULF appointed as commissaire
2019
03-10-2019 Publication in the Belgian Official Gazette, Miscellaneous
Summary:
proposalNotary:
Olivier PALSTERMAN · Bruxelles francophone
2018
17-07-2018 Michel BERNARD resigns as director
20-03-2018 CDP DE WULF & Co appointed as auditor
24-01-2018 Registered office moved from Bruxelles to Uccle
- Avenue Van Volxem 281 - 1190 Bruxelles → 1180 Uccle, rue de Stalle 142
Notary:
Alexandre VELLEUER · Bruxelles
2017
15-06-2017 Patrick PARMENTIER resigns as managing director
2016
08-04-2016 Alexandre VELLEUER appointed as managing director
2015
17-09-2015 2 directors appointed
- Vinciane-Noélle Morel de Westgaver, Bestuurder
- Alexandre Velleuer, Bestuurder
Summary:
v3.2
Analysis
Financial profile
5 of 5 axes measured54
/ 100
Mixed profile: strong on stability, weaker on profitability.
All 5 axes are computed from data Checked has read.
Health
65
Profitability
15
Solvency
53
Growth
37
Stability
100
Credit advice
verdict per customer and amountSimilar
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We hold annual accounts for 355 of the 4,557 companies in this sector. 46 of them are within a factor 10 of this company's equity.
Company registry
Company registry (CBE)
Crossroads BankActivities
Activiteiten van reclamebureaus73110Publiciteitsagentschappen74401Organisatie van congressen en beurzen82300
Primary activity highlighted.
Names & trade names
| Legal nameFR | VO COMMUNICATION |
Registered office
Hoogstraat 139
1000 Brussel, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.