VP-SP
ActiveSummary
VP-SP has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €9,809 and a net result of €2,096. Equity is growing by ~46.9% per year across the filed fiscal years. Its solvency ranks better than 22% of 9559 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▼-10
Solvency46▼-41
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity ample (current ratio 15.52 against 3.4 in 2024; short-term debt: 1.3% and cash: 7.5% of total assets), but 78.8% of the assets are financed with debt.
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Signals
Five 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 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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
21.2%
Return on assets
4.5%
Age of the figures
18 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 9559 sector peers (2025).
NBB · sector comparisonPosition among 9559 sector peers
Solvency
better than 22%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 17-10-2025, 14 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
14 d early
2024
56 d early
2023
7 d early
2022
on the day
2021
on the day
2020
1 d early
2019
on the day
← 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 11 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today. Usually files around 24 October (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
31-03-2026 close29-09-2026 today31-10-2026 deadline
History
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€9,809▲ 27.2%
2024 · €7,713
Total assets
€46,294▲ 269%
2024 · €12,531
Net result
€2,096▲ 34.5%
2024 · €1,559
Working capital
€8,697▲ 113%
2024 · €4,087
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, 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
Line20212022202320242025
Operating result€5,142▲ 216%€7,898▲ 53.6%€2,685▼ 66.0%€2,249▼ 16.2%€3,001▲ 33.4%
Net result€3,787within the sector's middle half▲ 380%€6,079within the sector's middle half▲ 60.5%€1,814within the sector's middle half▼ 70.2%€1,559within the sector's middle half▼ 14.1%€2,096within the sector's middle half▲ 34.5%
Equity-€1,739below the sector's middle half▲ 68.5%€4,341below the sector's middle half€6,154below the sector's middle half▲ 41.8%€7,713below the sector's middle half▲ 25.3%€9,809below the sector's middle half▲ 27.2%
Total assets€8,343below the sector's middle half▲ 26.8%€18,641below the sector's middle half▲ 123%€16,015below the sector's middle half▼ 14.1%€12,531below the sector's middle half▼ 21.8%€46,294below the sector's middle half▲ 269%
Debt€10,082▼ 16.7%€14,300▲ 41.8%€9,860▼ 31.0%€4,818▼ 51.1%€36,485▲ 657%
Working capital€6,059below the sector's middle half▲ 20.0%€4,712below the sector's middle half▼ 22.2%€4,620below the sector's middle half▼ 2.0%€4,087below the sector's middle half▼ 11.5%€8,697within the sector's middle half▲ 113%
Solvency-20.8%below the sector's middle half▲ 63.1pp23.3%below the sector's middle half▲ 44.1pp38.4%within the sector's middle half▲ 15.1pp61.5%within the sector's middle half▲ 23.1pp21.2%below the sector's middle half▼ 40.4pp
Current ratio3.71within the sector's middle half▼ 0.583.75within the sector's middle half▲ 0.043.41within the sector's middle half▼ 0.343.40within the sector's middle half▼ 0.0115.52above the sector's middle half▲ 12.12
Return on assets (ROA)45.4%above the sector's middle half▲ 33.4pp32.6%above the sector's middle half▼ 12.8pp11.3%within the sector's middle half▼ 21.3pp12.4%within the sector's middle half▲ 1.1pp4.5%within the sector's middle half▼ 7.9pp
above
within
below
the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, 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 recovers in 2025; 2025 is 33% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €46,294
Fixed assets
€36,998 ▲ 449%
Current assets
€9,296 ▲ 60.5%
Equity and liabilities €46,294
Equity
€9,809 ▲ 27.2%
Debt
€36,485 ▲ 657%
Debt's share of the balance-sheet total rises from 38.5% to 78.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€3,266▼
2024 · €4,989
Cash flow
€2,362▼
2024 · €4,299
Debt to equity
3.72▲
2024 · 0.62
ROE
21.4%▲
2024 · 20.2%
Interest coverage
41.73▼
2024 · 85.94
Debt ≤ 1 year
€599▼
2024 · €1,706
Debt > 1 year
€35,886▲
2024 · €2,709
Income taxes
€845▲
2024 · €641
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,984 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 97% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.1%
went bankrupt
2.3%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
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 3,984 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €1,531 | €2,740 | €2,740 | €266 | ▼ 90.3% |
| Other operating charges640/8 | - | €437 | €1,553 | €623 | €1,935 | ▲ 211% |
| Gross operating margin9900 | €5,944 | €9,866 | €6,978 | €5,612 | €5,202 | ▼ 7.3% |
| Operating profit (loss)9901 | €5,142 | €7,898 | €2,685 | €2,249 | €3,001 | ▲ 33.4% |
| Financial income75/76B | - | €45 | - | €8 | €19 | ▲ 123% |
| Recurring financial income75 | €0 | €45 | - | €8 | €19 | ▲ 123% |
| Financial charges65/66B | - | €605 | €55 | €58 | €78 | ▲ 34.8% |
| Recurring financial charges65 | €563 | €605 | €55 | €58 | €78 | ▲ 34.8% |
| Profit (loss) for the period before taxes9903 | €4,580 | €7,338 | €2,630 | €2,199 | €2,941 | ▲ 33.7% |
| Income taxes67/77 | €792 | €1,259 | €816 | €641 | €845 | ▲ 31.9% |
| Profit (loss) for the period9904 | €3,787 | €6,079 | €1,814 | €1,559 | €2,096 | ▲ 34.5% |
| Profit (loss) for the period to be appropriated9905 | €3,787 | €6,079 | €1,814 | €1,559 | €2,096 | ▲ 34.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €8,343 | €18,641 | €16,015 | €12,531 | €46,294 | ▲ 269% |
| Fixed assets21/28 | €50 | €12,219 | €9,479 | €6,739 | €36,998 | ▲ 449% |
| Tangible fixed assets22/27 | - | €12,169 | €9,429 | €6,689 | €36,948 | ▲ 452% |
| Furniture and vehicles24 | - | €12,169 | €9,429 | €6,689 | €36,948 | ▲ 452% |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €8,293 | €6,422 | €6,536 | €5,792 | €9,296 | ▲ 60.5% |
| Amounts receivable within one year40/41 | €2,226 | €3,513 | €2,971 | €2,302 | €5,410 | ▲ 135% |
| Trade receivables40 | - | €2,386 | €2,971 | €2,302 | €3,808 | ▲ 65.4% |
| Other amounts receivable41 | - | €1,127 | - | - | €1,602 | - |
| Current investments50/53 | €500 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €5,087 | €2,718 | €3,374 | €3,274 | €3,477 | ▲ 6.2% |
| Deferred charges and accrued income490/1 | - | €191 | €190 | €216 | €409 | ▲ 89.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €8,343 | €18,641 | €16,015 | €12,531 | €46,294 | ▲ 269% |
| Equity10/15 | -€1,739 | €4,341 | €6,154 | €7,713 | €9,809 | ▲ 27.2% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €62 | €62 | €62 | €62 | €62 | = |
| Non-distributable reserves130/1 | - | €62 | €62 | €62 | €62 | = |
| Reserves not available under the articles1311 | - | €62 | €62 | €62 | €62 | = |
| Profit (loss) carried forward14 | -€20,401 | -€14,321 | -€12,508 | -€10,949 | -€8,853 | ▲ 19.1% |
| Amounts payable17/49 | €10,082 | €14,300 | €9,860 | €4,818 | €36,485 | ▲ 657% |
| Amounts payable after more than one year17 | €7,497 | €12,233 | €7,944 | €2,709 | €35,886 | ▲ 1,225% |
| Financial debts170/4 | - | €12,233 | €7,944 | €2,709 | €35,886 | ▲ 1,225% |
| Amounts payable within one year42/48 | €2,234 | €1,711 | €1,916 | €1,706 | €599 | ▼ 64.9% |
| Trade debts44 | €1,217 | €902 | €1,094 | €999 | €549 | ▼ 45.0% |
| Suppliers440/4 | - | €902 | €1,094 | €999 | €549 | ▼ 45.0% |
| Taxes, remuneration and social security45 | - | €758 | €773 | €657 | €0 | ▼ 100% |
| Taxes450/3 | - | €758 | €773 | €657 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €50 | €50 | €50 | €50 | = |
| Accrued charges and deferred income492/3 | - | €357 | - | €403 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,787 | €6,079 | €1,814 | €1,559 | €2,096 | ▲ 34.5% |
| + Depreciation and write-downs630 | - | €1,531 | €2,740 | €2,740 | €266 | ▼ 90.3% |
| Operating cash flow (approximation) | €3,787 | €7,611 | €4,554 | €4,299 | €2,362 | ▼ 45.1% |
| Investment in fixed assets (approximation) | - | -€13,700 | €0 | €0 | -€30,525 | - |
| Change in cash | - | -€2,369 | €656 | -€100 | €203 | ▲ 302% |
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
2025
17-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Liquidity times 5current ratio 15.52
Current ratio from 3.40 to 15.52; short-term debt falls from €1,706 to €599.
2024
05-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
24-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
31-03
Financial
Highest result since 2019net €6,079 ▲60.5%
Operating result €7,898, net result €6,079, both a record.
2021
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
31-03
Financial
Weakest financial yearnet €788 ▼79.7%
Net result drops to €788, the lowest in the series; recovery starts the following year.
2019
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
02-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
23-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated 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, Middelkerke · 1 establishment unit since 2003
Ground area
79 m²
Building footprint
54 m²
Volume, LiDAR
253 m³
Parcel 35011B0102/00M007, Flanders · tallest building 7.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
VP-SP
since 20032.132.579.345
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35011B0102/00M007 | Flanders | 79 m² | 1 · 54 m² | 7.1 m · 2 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.
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Of 11,577 companies in sector 71121 we hold annual accounts for 6,570. 2,910 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
Founded12-06-2003
Fiscal year end31-03
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
46180Agents specialised in the wholesale of other particular products
71111Activities of building architects
74999Other professional, scientific and technical activities
79120Travel agency, tour operator and other reservation service and related activities
96301Funeral services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0860153537
Also
9925:BE0860153537
Registered
27-08-2025
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.