VRB
ActiveSummary
VRB has been active since 1963 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6.07M and a net result of €1.52M. Equity is growing by ~9.4% per year across the filed fiscal years. Its solvency ranks better than 79% of 269 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability92▼-8
Solvency98▼-1
Growth85=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500k at 30 days acceptable
Liquidity ample (current ratio 2.64 against 2.57 in 2024; short-term debt: 27.1% and cash: 30.6% of total assets), and 27.1% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
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
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
72.9%
Return on assets
18.2%
Age of the figures
9 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 23
Relative position
BE, all sectors
reference
Manufacture of other non-metallic mineral products (NACE 23)
about 17% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 24-07-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
21 d early
2023
62 d early
2022
56 d early
2021
101 d early
2020
30 d early
2019
4 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
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Is this a good employer? Staff, turnover and training against the sector.Employer check
Financials · fiscal year 2025, abbreviated schema
In the rankings
#3 oldest company in Zele, Manufacturing sector#10 company by equity in Zele, Manufacturing sector
Turnover
€8.45M▲ 38.6%
2023 · €6.10M
EBIT margin
25.5%▲ 5.4pp
2023 · 20.1%
Net result
€1.52M▼ 6.0%
2024 · €1.62M
Working capital
€3.70M▲ 49.1%
2024 · €2.48M
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€5.45M€6.10M▲ 11.8%€8.45M▲ 38.6%
Operating result€748k▲ 31.9%€800k▲ 6.9%€1.23M▲ 53.4%€2.15M▲ 75.5%€2.18M▲ 1.0%
Net result€649k▲ 36.7%€445k▼ 31.4%€1.00M▲ 125%€1.62M▲ 61.4%€1.52M▼ 6.0%
EBIT margin14.7%20.1%▲ 5.5pp25.5%▲ 5.4pp
Equity€4.50M▲ 9.7%€2.56M▼ 43.1%€3.31M▲ 29.3%€4.56M▲ 37.8%€6.07M▲ 32.9%
Total assets€5.54M▲ 12.9%€5.30M▼ 4.2%€6.16M▲ 16.2%€6.14M▼ 0.3%€8.33M▲ 35.6%
Debt€1.04M▲ 29.1%€2.74M▲ 165%€2.85M▲ 4.0%€1.58M▼ 44.6%€2.26M▲ 43.2%
Working capital€2.32M▲ 5.3%€529k▼ 77.2%€1.29M▲ 143%€2.48M▲ 92.9%€3.70M▲ 49.1%
Staff (FTE)6▲ 15.4%5.3▼ 11.7%4.3▼ 18.9%5▲ 16.3%4.8▼ 4.0%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 1% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8.33M
Fixed assets
€2.37M ▲ 13.7%
Current assets
€5.96M ▲ 46.8%
Equity and liabilities €8.33M
Equity
€6.07M ▲ 32.9%
Debt
€2.26M ▲ 43.2%
Debt's share of the balance-sheet total rises from 25.7% to 27.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€2.31M▲
2024 · €2.28M
Cash flow
€1.65M▼
2024 · €1.74M
Current ratio
2.64▲
2024 · 2.57
Quick ratio
2.40▲
2024 · 2.32
Debt to equity
0.37▲
2024 · 0.35
ROE
25.0%▼
2024 · 35.4%
ROA
18.2%▼
2024 · 26.3%
Interest coverage
470.99▼
2024 · 554.56
Debt ≤ 1 year
€2.26M▲
2024 · €1.58M
Income taxes
€688k▲
2024 · €562k
Staff costs
€323k▲
2024 · €297k
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 |
|---|---|---|---|---|---|---|
| Turnover70 | - | €5.45M | €6.10M | €8.45M | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €4.22M | €4.49M | €5.89M | - | - |
| Remuneration, social security and pensions62 | €263k | €292k | €263k | €297k | €323k | ▲ 8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €149k | €157k | €137k | €124k | €131k | ▲ 5.0% |
| Other operating charges640/8 | €16k | €17k | €15k | €15k | €54k | ▲ 248% |
| Gross operating margin9900 | €1.18M | €1.27M | €1.64M | €2.59M | €2.68M | ▲ 3.5% |
| Operating profit (loss)9901 | €748k | €800k | €1.23M | €2.15M | €2.18M | ▲ 1.0% |
| Financial income75/76B | €14k | €33k | €17k | €28k | €36k | ▲ 29.7% |
| Recurring financial income75 | €14k | €33k | €17k | €28k | €36k | ▲ 29.7% |
| Financial charges65/66B | €12k | €174k | €-69k | €4k | €5k | ▲ 19.2% |
| Recurring financial charges65 | €12k | €174k | €-69k | €4k | €5k | ▲ 19.2% |
| Profit (loss) for the period before taxes9903 | €751k | €659k | €1.31M | €2.18M | €2.21M | ▲ 1.3% |
| Income taxes67/77 | €101k | €214k | €312k | €562k | €688k | ▲ 22.4% |
| Profit (loss) for the period9904 | €649k | €445k | €1.00M | €1.62M | €1.52M | ▼ 6.0% |
| Transfer from tax-exempt reserves789 | €124k | €198k | €68k | €0 | - | - |
| Transfer to tax-exempt reserves689 | - | €168k | €168k | €168k | €168k | = |
| Profit (loss) for the period to be appropriated9905 | €773k | €476k | €901k | €1.45M | €1.35M | ▼ 6.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.54M | €5.30M | €6.16M | €6.14M | €8.33M | ▲ 35.6% |
| Fixed assets21/28 | €2.18M | €2.03M | €2.03M | €2.09M | €2.37M | ▲ 13.7% |
| Tangible fixed assets22/27 | €2.18M | €2.03M | €2.03M | €2.09M | €2.37M | ▲ 13.7% |
| Land and buildings22 | €2.06M | €1.95M | €1.96M | €2.04M | €2.27M | ▲ 11.3% |
| Plant, machinery and equipment23 | €112k | €86k | €64k | €49k | €43k | ▼ 10.5% |
| Furniture and vehicles24 | €5k | €0 | - | - | €53k | - |
| Other tangible fixed assets26 | - | - | - | - | €8k | - |
| Financial fixed assets28 | €0 | - | - | - | - | - |
| Current assets29/58 | €3.35M | €3.27M | €4.14M | €4.06M | €5.96M | ▲ 46.8% |
| Stocks and contracts in progress3 | €732k | €769k | €444k | €389k | €541k | ▲ 39.1% |
| Stocks30/36 | €732k | €769k | €444k | €389k | €541k | ▲ 39.1% |
| Amounts receivable within one year40/41 | €485k | €424k | €1.89M | €1.41M | €2.87M | ▲ 103% |
| Trade receivables40 | €485k | €423k | €1.89M | €1.41M | €2.86M | ▲ 103% |
| Other amounts receivable41 | €25 | €1k | €70 | €17 | €144 | ▲ 730% |
| Current investments50/53 | €741k | €866k | €350k | €50k | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €1.39M | €1.21M | €1.44M | €2.20M | €2.55M | ▲ 15.6% |
| Deferred charges and accrued income490/1 | €2k | €3k | €4k | €522 | €4k | ▲ 657% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.54M | €5.30M | €6.16M | €6.14M | €8.33M | ▲ 35.6% |
| Equity10/15 | €4.50M | €2.56M | €3.31M | €4.56M | €6.07M | ▲ 32.9% |
| Contributions10/11 | €831k | €831k | €831k | €831k | €831k | = |
| Reserves13 | €383k | €698k | €1.45M | €2.70M | €4.20M | ▲ 55.6% |
| Non-distributable reserves130/1 | €83k | €0 | - | - | - | - |
| Reserves not available under the articles1311 | €83k | €0 | - | - | - | - |
| Tax-exempt reserves132 | €267k | €237k | €337k | €505k | €674k | ▲ 33.3% |
| Distributable reserves133 | €33k | €462k | €1.11M | €2.20M | €3.53M | ▲ 60.8% |
| Profit (loss) carried forward14 | €3.29M | €1.03M | €1.03M | €1.03M | €1.03M | = |
| Amounts payable17/49 | €1.04M | €2.74M | €2.85M | €1.58M | €2.26M | ▲ 43.2% |
| Amounts payable within one year42/48 | €1.04M | €2.74M | €2.85M | €1.58M | €2.26M | ▲ 43.1% |
| Trade debts44 | €597k | €268k | €983k | €428k | €1.77M | ▲ 313% |
| Suppliers440/4 | €597k | €268k | €983k | €428k | €1.77M | ▲ 313% |
| Taxes, remuneration and social security45 | €181k | €83k | €247k | €232k | €463k | ▲ 99.3% |
| Taxes450/3 | €158k | €65k | €230k | €213k | €441k | ▲ 107% |
| Remuneration and social security454/9 | €23k | €19k | €17k | €19k | €22k | ▲ 14.2% |
| Other amounts payable47/48 | €257k | €2.39M | €1.62M | €918k | €29k | ▼ 96.8% |
| Accrued charges and deferred income492/3 | - | - | - | €1,000 | €2k | ▲ 101% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €649k | €445k | €1.00M | €1.62M | €1.52M | ▼ 6.0% |
| + Depreciation and write-downs630 | €149k | €157k | €137k | €124k | €131k | ▲ 5.0% |
| Operating cash flow (approximation) | €799k | €603k | €1.14M | €1.74M | €1.65M | ▼ 5.2% |
| Investment in fixed assets (approximation) | - | €-9k | €-132k | €-183k | €-416k | ▼ 127% |
| Change in cash | - | €-188k | €237k | €760k | €343k | ▼ 54.8% |
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
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Equity above €5MEq €6.07M ▲32.9%
8 profitable years in a row build equity to €6.07M.
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €1.62M ▲61.4%
Net result €1.62M, the highest in the series.
30-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
05-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet €445k ▼31.4%
Net result drops to €445k, the lowest in the series; recovery starts the following year.
21-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
01-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
27-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
12-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
15-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
07-07
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 5 acts read
About the unread acts
We know of 5 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
5 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, Zele · 1 establishment unit since 1973
Ground area
189 m²
Building footprint
189 m²
Volume, LiDAR
1,461 m³
Parcel 42403D0705/00E000, Flanders · tallest building 10.0 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Gentsesteenweg 374, 9240 Zele
since 19732.008.253.554
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42403D0705/00E000 | Flanders | 189 m² | 1 · 189 m² | 10.0 m · 3 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 2023 · 3 entries · 491 EUR awarded · 491 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 2 | 162 EUR | 491 EUR |
| 2022 | 1 | 329 EUR | 0 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Vlaams opleidingsverlof (VOV)
Recognitions · licences · registrations
Legal Entity Identifier
894500CSZF5THVXMY980
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Of 176 companies in sector 23630 we hold annual accounts for 148. 79 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
Founded22-01-1963
Fiscal year end31-12
Activities, NACEBEL 2025
23610Manufacture of other non-metallic mineral products
23630Manufacture of other non-metallic mineral products
41001General construction of residential buildings
43990Other specialised construction activities
Scores and ratios are computed by Checked and are not a credit decision.