VRCO
ActiveSummary
The computed 12-month bankruptcy probability of VRCO is 10.5% (high). The 2025 annual accounts show equity of €104,969 and a net result of €93,667. Equity is growing by ~122.5% per year across the filed fiscal years. Its solvency ranks better than 35% of 3757 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
44
/ 100
Weak
A high bankruptcy probability caps the score. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability86▲+8
Solvency40▲+13
Growth78=
Track record94
Bankruptcy probability, 12 months
10.5%
High
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days only on tighter terms
Liquidity short (current ratio 0.73 against 0.57 in 2024; short-term debt: 49.5% and cash: 22.9% of total assets), and 85% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
15%
Return on assets
13.4%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 3 filingsDeviation from the deadline
2025
24 d late
2024
31 d early
2023
45 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 17 days before the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 52% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€104,969▲ 829%
2024 · €11,302
Total assets
€697,652▲ 15.8%
2024 · €602,597
Net result
€93,667▲ 119%
2024 · €42,798
Working capital
-€93,031▲ 29.4%
2024 · -€131,782
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 56, Food and beverage service activities, 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
Line202320242025
Operating result-€91,707-€59,191€109,981▲ 85.8%
Net result-€102,367below the sector's middle half-€42,798above the sector's middle half€93,667above the sector's middle half▲ 119%
Equity-€72,367below the sector's middle half-€11,302within the sector's middle half€104,969within the sector's middle half▲ 829%
Total assets€591,542above the sector's middle half-€602,597above the sector's middle half▲ 1.9%€697,652within the sector's middle half▲ 15.8%
Debt€663,909-€581,076▼ 12.5%€582,465▲ 0.2%
Working capital-€189,718--€131,782▲ 30.5%-€93,031▲ 29.4%
Solvency-12.2%below the sector's middle half-1.9%within the sector's middle half▲ 14.1pp15.0%within the sector's middle half▲ 13.2pp
above
within
below
the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2025 is 86% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €697,652
Fixed assets
€445,082 ▲ 4.5%
Current assets
€252,570 ▲ 42.9%
Equity and liabilities €697,652
Equity
€104,969 ▲ 829%
Provisions
€10,218 =
Debt
€582,465 ▲ 0.2%
Debt's share of the balance-sheet total falls from 96.4% to 83.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€170,321▲
2024 · €113,595
Cash flow
€154,007▲
2024 · €97,202
Current ratio
0.73▲
2024 · 0.57
Quick ratio
0.67▲
2024 · 0.52
Debt to equity
5.55▼
2024 · 51.41
ROE
89.2%▼
2024 · 378.7%
ROA
13.4%▲
2024 · 7.1%
Interest coverage
11.38▲
2024 · 6.91
Debt ≤ 1 year
€345,601▲
2024 · €308,477
Debt > 1 year
€235,744▼
2024 · €272,599
Income taxes
€1,408
Staff costs
€474,464▼
2024 · €477,955
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,602 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 97% are still going.
- Small
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
2.1%
went bankrupt
0.9%
stopped otherwise
97%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 10.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 1,602 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 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €52,137 | €477,955 | €474,464 | ▼ 0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,215 | €54,404 | €60,340 | ▲ 10.9% |
| Other operating charges640/8 | €4,773 | €6,408 | €5,656 | ▼ 11.7% |
| Gross operating margin9900 | -€15,583 | €597,958 | €650,441 | ▲ 8.8% |
| Operating profit (loss)9901 | -€91,707 | €59,191 | €109,981 | ▲ 85.8% |
| Financial income75/76B | - | €52 | €56 | ▲ 7.1% |
| Recurring financial income75 | - | €52 | €56 | ▲ 7.1% |
| Financial charges65/66B | €10,660 | €16,445 | €14,962 | ▼ 9.0% |
| Recurring financial charges65 | €10,660 | €16,445 | €14,962 | ▼ 9.0% |
| Profit (loss) for the period before taxes9903 | -€102,367 | €42,798 | €95,075 | ▲ 122% |
| Income taxes67/77 | - | - | €1,408 | - |
| Profit (loss) for the period9904 | -€102,367 | €42,798 | €93,667 | ▲ 119% |
| Profit (loss) for the period to be appropriated9905 | -€102,367 | €42,798 | €93,667 | ▲ 119% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €591,542 | €602,597 | €697,652 | ▲ 15.8% |
| Fixed assets21/28 | €414,226 | €425,901 | €445,082 | ▲ 4.5% |
| Intangible fixed assets21 | €18,334 | €26,415 | €24,827 | ▼ 6.0% |
| Tangible fixed assets22/27 | €395,892 | €399,487 | €420,255 | ▲ 5.2% |
| Plant, machinery and equipment23 | €110,775 | €106,587 | €113,164 | ▲ 6.2% |
| Furniture and vehicles24 | €49,076 | €52,282 | €56,208 | ▲ 7.5% |
| Other tangible fixed assets26 | €236,041 | €240,618 | €250,883 | ▲ 4.3% |
| Current assets29/58 | €177,316 | €176,695 | €252,570 | ▲ 42.9% |
| Stocks and contracts in progress3 | €3,518 | €16,500 | €21,000 | ▲ 27.3% |
| Stocks30/36 | €3,518 | €16,500 | €21,000 | ▲ 27.3% |
| Amounts receivable within one year40/41 | €115,159 | €6,933 | €61,360 | ▲ 785% |
| Trade receivables40 | €106,377 | €6,933 | €61,360 | ▲ 785% |
| Other amounts receivable41 | €8,783 | - | - | - |
| Cash at bank and in hand54/58 | €58,639 | €145,630 | €159,990 | ▲ 9.9% |
| Deferred charges and accrued income490/1 | - | €7,633 | €10,221 | ▲ 33.9% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €591,542 | €602,597 | €697,652 | ▲ 15.8% |
| Equity10/15 | -€72,367 | €11,302 | €104,969 | ▲ 829% |
| Contributions10/11 | €30,000 | €30,000 | €30,000 | = |
| Outside capital11 | €30,000 | €30,000 | €30,000 | = |
| Other1109/19 | €30,000 | €30,000 | €30,000 | = |
| Profit (loss) carried forward14 | -€102,367 | -€59,569 | €34,098 | ▲ 157% |
| Investment grants15 | - | €40,871 | €40,871 | = |
| Provisions and deferred taxes16 | - | €10,218 | €10,218 | = |
| Deferred taxes168 | - | €10,218 | €10,218 | = |
| Amounts payable17/49 | €663,909 | €581,076 | €582,465 | ▲ 0.2% |
| Amounts payable after more than one year17 | €296,875 | €272,599 | €235,744 | ▼ 13.5% |
| Financial debts170/4 | €296,875 | €272,599 | €235,744 | ▼ 13.5% |
| Amounts payable within one year42/48 | €367,034 | €308,477 | €345,601 | ▲ 12.0% |
| Current portion of amounts payable after more than one year42 | €25,672 | €33,880 | €36,205 | ▲ 6.9% |
| Financial debts43 | €1,651 | - | €296 | - |
| Credit institutions430/8 | €1,651 | - | €296 | - |
| Trade debts44 | €156,112 | €27,055 | €80,786 | ▲ 199% |
| Suppliers440/4 | €156,112 | €27,055 | €80,786 | ▲ 199% |
| Taxes, remuneration and social security45 | €36,439 | €71,178 | €74,157 | ▲ 4.2% |
| Taxes450/3 | €2,420 | €35,329 | €33,962 | ▼ 3.9% |
| Remuneration and social security454/9 | €34,018 | €35,849 | €40,195 | ▲ 12.1% |
| Other amounts payable47/48 | €147,160 | €176,365 | €154,157 | ▼ 12.6% |
| Accrued charges and deferred income492/3 | - | - | €1,120 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€102,367 | €42,798 | €93,667 | ▲ 119% |
| + Depreciation and write-downs630 | €19,215 | €54,404 | €60,340 | ▲ 10.9% |
| Operating cash flow (approximation) | -€83,153 | €97,202 | €154,007 | ▲ 58.4% |
| Investment in fixed assets (approximation) | - | -€66,079 | -€79,521 | ▼ 20.3% |
| Change in cash | - | €86,991 | €14,360 | ▼ 83.5% |
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
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 24 days late
2025
31-12
Financial
Highest result since 2023net €93,667 ▲119%
Operating result €109,981, net result €93,667, both a record.
31-12
Financial
Equity above €100,000Eq €104,969 ▲829%
2 profitable years in a row build equity to €104,969.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €42,798
Net result €42,798 after one loss-making year.
16-06
NBB filing
Annual accounts filed
fiscal year 2023 · 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, Vorst · 3 establishment units since 2023
Ground area
936 m²
Building footprint
426 m²
Volume, LiDAR
9,662 m³
3 parcels, Brussels · tallest building 33.1 m, ±10 floors. Linked by address, not a title deed.
8
companies at this address
See who is registered here
3 establishment units
Waterloose Steenweg 557-559, 1050 Elsene
since 20232.342.751.621
VRCO
since 20232.342.752.017
Lariksenstraat 97, 1050 Elsene
since 20262.390.072.179
3 parcels
Brussels
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21383B0077/00V004 | Brussels | 547 m² | 1 · 260 m² | 33.1 m · 10 fl. |
| 21447B0330/00G004 | Brussels | 294 m² | 1 · 97 m² | 18.4 m · 5 fl. |
| 21447B0288/00R004 | Brussels | 95 m² | 1 · 69 m² | 17.9 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
2 sitesElsene2.342.751.621
Elsene2.390.072.179
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Of 21,859 companies in sector 56112 we hold annual accounts for 9,779. 7,761 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
Founded03-03-2023
Fiscal year end31-12
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
56301Cafés and bars
E-invoicing
Reachable via Peppol
Peppol ID
0208:0799164489
Registered
08-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.