vormen
ActiveSummary
The computed 12-month bankruptcy probability of vormen is 3.6% (moderate). The 2025 annual accounts show equity of €20k and a net result of €-6k. Equity is growing by ~36% per year across the filed fiscal years. Its solvency ranks better than 55% of 405 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability1▼-74
Solvency74▼-14
Growth52=
Track record100
Bankruptcy probability, 12 months
3.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days only on tighter terms
Liquidity tight (current ratio 1.43 against 1.67 in 2024; short-term debt: 50.6% and cash: 12.1% of total assets), and 50.6% of the assets are financed with debt.
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Signals
Five 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 31
Relative position
BE, all sectors
reference
Manufacture of furniture (NACE 31)
about 43% more 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 2025Solvency, return and age of the figures
Solvency
49.4%
Return on assets
-14.4%
Age of the figures
9 mo
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 31-07-2026, 0 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
on the day
2024
6 d early
2023
5 d early
2022
3 d early
2021
2 d early
2020
31 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€66k
EBIT margin
9.4%
Net result
€-6k
2024 · €2k
Working capital
€9k▼ 15.8%
2024 · €10k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover
Operating result€10k▲ 54.1%€-7k€24k€4k▼ 85.2%€-6k
Net result€9k▲ 102%€-7k€21k€2k▼ 89.7%€-6k
EBIT margin
Equity€10k▲ 185%€3k▼ 71.3%€24k▲ 747%€26k▲ 9.1%€20k▼ 22.5%
Total assets€35k▲ 25.6%€29k▼ 18.4%€43k▲ 49.6%€41k▼ 3.9%€40k▼ 1.8%
Debt€25k▲ 3.4%€26k▲ 1.9%€19k▼ 25.7%€15k▼ 19.9%€20k▲ 32.8%
Working capital€-5k▲ 58.0%€-9k▼ 73.5%€6k€10k▲ 84.2%€9k▼ 15.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €6k after €4k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €40k
Fixed assets
€11k ▼ 27.1%
Current assets
€29k ▲ 13.2%
Equity and liabilities €40k
Equity
€20k ▼ 22.5%
Debt
€20k ▲ 32.8%
Debt's share of the balance-sheet total rises from 37.4% to 50.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-2k▼
2024 · €9k
Cash flow
€-2k▼
2024 · €7k
Current ratio
1.43▼
2024 · 1.67
Quick ratio
1.18▼
2024 · 1.51
Debt to equity
1.02▲
2024 · 0.60
ROE
-29.1%▼
2024 · 8.3%
ROA
-14.4%▼
2024 · 5.2%
Interest coverage
-12.48▼
2024 · 28.09
Debt ≤ 1 year
€20k▲
2024 · €15k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5k | €5k | €5k | €5k | €4k | ▼ 21.5% |
| Other operating charges640/8 | €496 | €546 | €697 | €323 | €509 | ▲ 57.6% |
| Non-recurring operating charges66A | - | - | €10 | - | - | - |
| Gross operating margin9900 | €15k | €-2k | €29k | €9k | €-1k | ▼ 111% |
| Operating profit (loss)9901 | €10k | €-7k | €24k | €4k | €-6k | ▼ 262% |
| Financial income75/76B | - | €62 | - | €10 | €8 | ▼ 16.5% |
| Recurring financial income75 | - | €62 | - | €10 | €8 | ▼ 16.5% |
| Financial charges65/66B | €335 | €233 | €322 | €313 | €122 | ▼ 61.1% |
| Recurring financial charges65 | €335 | €233 | €322 | €313 | €122 | ▼ 61.1% |
| Profit (loss) for the period before taxes9903 | €9k | €-7k | €23k | €3k | €-6k | ▼ 281% |
| Income taxes67/77 | €554 | - | €3k | €1k | - | - |
| Profit (loss) for the period9904 | €9k | €-7k | €21k | €2k | €-6k | ▼ 370% |
| Profit (loss) for the period to be appropriated9905 | €9k | €-7k | €21k | €2k | €-6k | ▼ 370% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €35k | €29k | €43k | €41k | €40k | ▼ 1.8% |
| Fixed assets21/28 | €17k | €12k | €18k | €15k | €11k | ▼ 27.1% |
| Tangible fixed assets22/27 | €17k | €12k | €18k | €15k | €11k | ▼ 27.1% |
| Plant, machinery and equipment23 | €4k | €3k | €3k | €4k | €3k | ▼ 34.1% |
| Furniture and vehicles24 | €6k | €4k | €9k | €6k | €4k | ▼ 30.3% |
| Other tangible fixed assets26 | €7k | €6k | €6k | €5k | €4k | ▼ 17.7% |
| Current assets29/58 | €19k | €17k | €25k | €26k | €29k | ▲ 13.2% |
| Stocks and contracts in progress3 | - | €8k | - | €3k | €5k | ▲ 96.1% |
| Stocks30/36 | - | €8k | - | €3k | €5k | ▲ 96.1% |
| Amounts receivable within one year40/41 | €11k | €7k | €10k | €14k | €19k | ▲ 35.0% |
| Trade receivables40 | €10k | €4k | €6k | €8k | €2k | ▼ 80.2% |
| Other amounts receivable41 | €446 | €3k | €4k | €6k | €18k | ▲ 186% |
| Cash at bank and in hand54/58 | €8k | €933 | €15k | €9k | €5k | ▼ 45.3% |
| Deferred charges and accrued income490/1 | €237 | €1k | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €35k | €29k | €43k | €41k | €40k | ▼ 1.8% |
| Equity10/15 | €10k | €3k | €24k | €26k | €20k | ▼ 22.5% |
| Contributions10/11 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves13 | €8k | €8k | €22k | €24k | €24k | = |
| Distributable reserves133 | €8k | €8k | €22k | €24k | €24k | = |
| Profit (loss) carried forward14 | - | €-7k | €81 | €228 | €-6k | ▼ 2,546% |
| Amounts payable17/49 | €25k | €26k | €19k | €15k | €20k | ▲ 32.8% |
| Amounts payable after more than one year17 | €1k | - | - | - | - | - |
| Financial debts170/4 | €1k | - | - | - | - | - |
| Amounts payable within one year42/48 | €24k | €26k | €19k | €15k | €20k | ▲ 32.8% |
| Current portion of amounts payable after more than one year42 | €4k | €1k | - | - | - | - |
| Trade debts44 | €9k | €5k | €8k | €4k | €2k | ▼ 45.9% |
| Suppliers440/4 | €9k | €5k | €8k | €4k | €2k | ▼ 45.9% |
| Advances received on contracts in progress46 | - | - | - | - | €4k | - |
| Taxes, remuneration and social security45 | €2k | €801 | €720 | €2k | €5k | ▲ 190% |
| Taxes450/3 | €2k | €801 | €720 | €2k | €5k | ▲ 190% |
| Other amounts payable47/48 | €9k | €19k | €10k | €10k | €10k | ▼ 0.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9k | €-7k | €21k | €2k | €-6k | ▼ 370% |
| + Depreciation and write-downs630 | €5k | €5k | €5k | €5k | €4k | ▼ 21.5% |
| Operating cash flow (approximation) | €13k | €-2k | €26k | €7k | €-2k | ▼ 122% |
| Investment in fixed assets (approximation) | - | €0 | €-11k | €-3k | €0 | ▲ 100% |
| Change in cash | - | €-7k | €14k | €-6k | €-4k | ▲ 36.9% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
26-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €21k
Net result €21k after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 1.29
Current ratio from 0.64 to 1.29; short-term debt falls from €26k to €19k.
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-7k
Net result drops to €-7k, the lowest in the series; recovery starts the following year.
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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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, Elsene · 1 establishment unit since 2020
Ground area
423 m²
Building footprint
427 m²
Volume, LiDAR
1,861 m³
Parcel 21443C0244/00X004, Brussels · tallest building 14.3 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Studio Vormen
since 20202.299.810.315
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21443C0244/00X004 | Brussels | 423 m² | 1 · 427 m² | 14.3 m · 1 fl. |
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.
Similar companies · same sector, comparable size
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MDESIGNPROJECTS
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WEYTEN
BE 0780.792.887
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Art4Elements
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Of 446 companies in sector 31001 we hold annual accounts for 208. 112 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
Founded24-02-2020
Fiscal year end31-12
Activities, NACEBEL 2025
31001Manufacture of furniture
71112Activities of interior architects
Contact
Website
www.vormen.be
E-mail
info@vormen.be
Scores and ratios are computed by Checked and are not a credit decision.