VProjectS
ActiveSummary
The computed 12-month bankruptcy probability of VProjectS is 2.2% (moderate). The 2025 annual accounts show equity of €51k and a net result of €12k. Equity is growing by ~34.4% per year across the filed fiscal years. Its solvency ranks better than 17% of 27965 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability73▲+5
Solvency39▲+3
Growth78=
Track record94
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2.5k at 30 days acceptable
Liquidity short (current ratio 0.45 against 0.18 in 2024; short-term debt: 83.9% and cash: 24.1% of total assets), and 85.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
14.2%
Return on assets
3.3%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 27965 sector peers (2025).
NBB · sector comparisonPosition among 27965 sector peers
Solvency
better than 17%
← weakest
strongest →
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 26-07-2026, 5 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
5 d early
2024
28 d early
2023
18 d early
2022
3 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
Equity
€51k▲ 30.6%
2024 · €39k
2022: €4klowest in 4 years
2023: €42k▲ +1078% vs 2022
2024: €39k▼ -6.5% vs 2023
2025: €51k▲ +30.6% vs 2024highest in 4 years
2022 → 2025
Total assets
€360k▼ 1.9%
2024 · €367k
2022: €183klowest in 4 years
2023: €268k▲ +46.5% vs 2022
2024: €367k▲ +36.9% vs 2023highest in 4 years
2025: €360k▼ -1.9% vs 2024
2022 → 2025
Net result
€12k
2024 · €-3k
2022: €-11klowest in 4 years
2023: €38k▲ +435% vs 2022highest in 4 years
2024: €-3k▼ -107% vs 2023
2025: €12k▲ +540% vs 2024
2022 → 2025
Working capital
€-168k▲ 31.5%
2024 · €-245k
2022: €-120khighest in 4 years
2023: €-137k▼ -14.7% vs 2022
2024: €-245k▼ -78.4% vs 2023lowest in 4 years
2025: €-168k▲ +31.5% vs 2024
2022 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€4k-€42k▲ 1,078%€39k▼ 6.5%€51k▲ 30.6%
2022: €4klowest in 4 years
2023: €42k▲ +1078% vs 2022
2024: €39k▼ -6.5% vs 2023
2025: €51k▲ +30.6% vs 2024highest in 4 years
Operating result€-10k-€43k€-287€14k
2022: €-10klowest in 4 years
2023: €43k▲ +510% vs 2022highest in 4 years
2024: €-287▼ -101% vs 2023
2025: €14k▲ +5092% vs 2024
Net result€-11k-€38k€-3k€12k
2022: €-11klowest in 4 years
2023: €38k▲ +435% vs 2022highest in 4 years
2024: €-3k▼ -107% vs 2023
2025: €12k▲ +540% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €14k after a loss of €287 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €360k
Fixed assets
€226k ▼ 27.6%
Current assets
€135k ▲ 142%
Equity and liabilities €360k
Equity
€51k ▲ 30.6%
Debt
€309k ▼ 5.8%
Debt's share of the balance-sheet total falls from 89.3% to 85.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€108k▲
2024 · €81k
Cash flow
€106k▲
2024 · €79k
Current ratio
0.45▲
2024 · 0.18
Quick ratio
0.44▲
2024 · 0.18
Debt to equity
6.04▼
2024 · 8.37
ROE
23.4%▲
2024 · -7.0%
ROA
3.3%▲
2024 · -0.7%
Interest coverage
73.13▲
2024 · 31.50
Debt ≤ 1 year
€302k▲
2024 · €300k
Debt > 1 year
€7k▼
2024 · €28k
Income taxes
€927
Staff costs
€39k▼
2024 · €49k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 52 lines
Balance sheet
Code20242025
Assets
Total assets20/58€367k€360k▼
Formation expenses20€0€0=
Fixed assets21/28€312k€226k▼
Tangible fixed assets22/27€312k€217k▼
Plant, machinery and equipment23€152k€111k▼
Furniture and vehicles24€92k€66k▼
Leasing and similar rights25€68k€39k▼
Financial fixed assets28-€9k
Current assets29/58€56k€135k▲
Stocks and contracts in progress3€2k€1k▼
Stocks30/36€2k€1k▼
Amounts receivable within one year40/41€17k€42k▲
Trade receivables40€5k€35k▲
Other amounts receivable41€12k€7k▼
Cash at bank and in hand54/58€36k€87k▲
Deferred charges and accrued income490/1€353€5k▲
Equity and liabilities
Total equity and liabilities10/49€367k€360k▼
Equity10/15€39k€51k▲
Contributions10/11€15k€15k=
Reserves13€27k€36k▲
Distributable reserves133€27k€36k▲
Profit (loss) carried forward14€-3k-
Amounts payable17/49€328k€309k▼
Amounts payable after more than one year17€28k€7k▼
Financial debts170/4€28k€7k▼
Amounts payable within one year42/48€300k€302k▲
Current portion of amounts payable after more than one year42€29k€21k▼
Trade debts44€4k€17k▲
Suppliers440/4€4k€17k▲
Taxes, remuneration and social security45€3k€2k▼
Taxes450/3€1k€927▼
Remuneration and social security454/9€2k€1k▼
Other amounts payable47/48€265k€263k▼
Income statement
Code20242025
Non-recurring operating income76A€14k€1k▼
Remuneration, social security and pensions62€49k€39k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€82k€94k▲
Other operating charges640/8€1k€1k▲
Non-recurring operating charges66A-€1k
Gross operating margin9900€132k€150k▲
Operating profit (loss)9901€-287€14k▲
Financial income75/76B€144€77▼
Recurring financial income75€144€77▼
Financial charges65/66B€3k€1k▼
Recurring financial charges65€3k€1k▼
Profit (loss) for the period before taxes9903€-3k€13k▲
Income taxes67/77-€927
Profit (loss) for the period9904€-3k€12k▲
Profit (loss) for the period to be appropriated9905€-3k€12k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-3k€9k▲
Profit (loss) brought forward from the previous period14P-€-3k
Transfer to equity691/2-€9k
To other reserves6921-€9k
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €14k | €1k | ▼ 89.5% |
| Remuneration, social security and pensions62 | €12k | €44k | €49k | €39k | ▼ 20.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €27k | €58k | €82k | €94k | ▲ 15.0% |
| Other operating charges640/8 | €870 | €453 | €1k | €1k | ▲ 0.7% |
| Non-recurring operating charges66A | - | - | - | €1k | - |
| Gross operating margin9900 | €30k | €146k | €132k | €150k | ▲ 13.8% |
| Operating profit (loss)9901 | €-10k | €43k | €-287 | €14k | ▲ 5,092% |
| Financial income75/76B | - | €201 | €144 | €77 | ▼ 46.1% |
| Recurring financial income75 | - | €201 | €144 | €77 | ▼ 46.1% |
| Financial charges65/66B | €970 | €2k | €3k | €1k | ▼ 42.7% |
| Recurring financial charges65 | €970 | €2k | €3k | €1k | ▼ 42.7% |
| Profit (loss) for the period before taxes9903 | €-11k | €41k | €-3k | €13k | ▲ 573% |
| Income taxes67/77 | - | €3k | - | €927 | - |
| Profit (loss) for the period9904 | €-11k | €38k | €-3k | €12k | ▲ 540% |
| Profit (loss) for the period to be appropriated9905 | €-11k | €38k | €-3k | €12k | ▲ 540% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €183k | €268k | €367k | €360k | ▼ 1.9% |
| Formation expenses20 | €0 | €0 | €0 | €0 | - |
| Fixed assets21/28 | €148k | €187k | €312k | €226k | ▼ 27.6% |
| Tangible fixed assets22/27 | €148k | €187k | €312k | €217k | ▼ 30.5% |
| Plant, machinery and equipment23 | €67k | €70k | €152k | €111k | ▼ 26.6% |
| Furniture and vehicles24 | €10k | €76k | €92k | €66k | ▼ 27.8% |
| Leasing and similar rights25 | €71k | €42k | €68k | €39k | ▼ 42.7% |
| Financial fixed assets28 | - | - | - | €9k | - |
| Current assets29/58 | €35k | €81k | €56k | €135k | ▲ 142% |
| Stocks and contracts in progress3 | €1k | €888 | €2k | €1k | ▼ 23.8% |
| Stocks30/36 | €1k | €888 | €2k | €1k | ▼ 23.8% |
| Amounts receivable within one year40/41 | €16k | €72k | €17k | €42k | ▲ 144% |
| Trade receivables40 | €10k | €66k | €5k | €35k | ▲ 663% |
| Other amounts receivable41 | €6k | €5k | €12k | €7k | ▼ 47.6% |
| Cash at bank and in hand54/58 | €15k | €7k | €36k | €87k | ▲ 139% |
| Deferred charges and accrued income490/1 | €2k | €1k | €353 | €5k | ▲ 1,262% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €183k | €268k | €367k | €360k | ▼ 1.9% |
| Equity10/15 | €4k | €42k | €39k | €51k | ▲ 30.6% |
| Contributions10/11 | €15k | €15k | €15k | €15k | = |
| Reserves13 | - | €27k | €27k | €36k | ▲ 34.5% |
| Distributable reserves133 | - | €27k | €27k | €36k | ▲ 34.5% |
| Profit (loss) carried forward14 | €-11k | - | €-3k | - | - |
| Amounts payable17/49 | €180k | €226k | €328k | €309k | ▼ 5.8% |
| Amounts payable after more than one year17 | €25k | €8k | €28k | €7k | ▼ 75.0% |
| Financial debts170/4 | €25k | €8k | €28k | €7k | ▼ 75.0% |
| Amounts payable within one year42/48 | €154k | €218k | €300k | €302k | ▲ 0.6% |
| Current portion of amounts payable after more than one year42 | €18k | €17k | €29k | €21k | ▼ 27.5% |
| Trade debts44 | €2k | €10k | €4k | €17k | ▲ 368% |
| Suppliers440/4 | €2k | €10k | €4k | €17k | ▲ 368% |
| Taxes, remuneration and social security45 | €2k | €5k | €3k | €2k | ▼ 37.4% |
| Taxes450/3 | €183 | €3k | €1k | €927 | ▼ 22.3% |
| Remuneration and social security454/9 | €2k | €2k | €2k | €1k | ▼ 46.7% |
| Other amounts payable47/48 | €132k | €186k | €265k | €263k | ▼ 0.8% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-11k | €38k | €-3k | €12k | ▲ 540% |
| + Depreciation and write-downs630 | €27k | €58k | €82k | €94k | ▲ 15.0% |
| Operating cash flow (approximation) | €16k | €97k | €79k | €106k | ▲ 34.2% |
| Investment in fixed assets (approximation) | - | €-97k | €-206k | €-8k | ▲ 96.1% |
| Change in cash | - | €-7k | €29k | €50k | ▲ 75.3% |
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
26-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €12k
Net result €12k after one loss-making year.
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
13-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €38k
Net result €38k after one loss-making year.
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Lo-Reninge · 1 establishment unit since 2021
Ground area
238 m²
Building footprint
238 m²
Volume, LiDAR
1,091 m³
Parcel 32020B0456/00G000, Flanders · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
VProjectS
since 20212.325.772.166
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 32020B0456/00G000 | Flanders | 237 m² | 1 · 237 m² | 8.5 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 2 entries · 1,034 EUR awarded · 1,034 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 855 EUR | 855 EUR |
| 2022 | 1 | 179 EUR | 179 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 7,289 companies in sector 43350 we hold annual accounts for 2,362. 2,001 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
Founded21-12-2021
Fiscal year end31-12
Activities, NACEBEL 2025
43120Site preparation
43350Other building finishing work
01610Support activities for crop production
01620Support activities for animal production
01630Crop and animal production, hunting and related service activities
42212Civil engineering
43110Demolition
49410Freight transport by road
52210Service activities incidental to land transportation
Scores and ratios are computed by Checked and are not a credit decision.