VRL IMMO
ActiveSummary
VRL IMMO has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €26,805 and a net result of €381. Equity is shrinking by ~6.7% per year across the filed fiscal years. Its solvency ranks better than 22% of 19375 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability38▲+7
Solvency27=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days acceptable
Liquidity ample (current ratio 2.91 against 12.06 in 2023; short-term debt: 33.9% and cash: 0.2% of total assets), but 98.1% 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
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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 19375 sector peers (2024).
NBB · sector comparisonPosition among 19375 sector peers
Solvency
better than 22%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
2021222324
2020 to 2024 · latest year €26,805
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 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 · 5 filingsDeviation from the deadline
2025
not confirmed
2024
29 d late
2023
69 d late
2022
31 d late
2021
96 d late
2020
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 51 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€26,805▲ 1.4%
2023 · €26,424
Total assets
€1.4m▲ 4.4%
2023 · €1.4m
Net result
€381▼ 97.6%
2023 · €16,058
Working capital
€913,071▼ 25.3%
2023 · €1.2m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate 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
Line20202021202220232024
Operating result-€4,188--€18,653▼ 345%-€16,255▲ 12.9%€82,823€54,543▼ 34.1%
Net result-€4,221within the sector's middle half--€19,094below the sector's middle half▼ 352%-€16,319below the sector's middle half▲ 14.5%€16,058within the sector's middle half€381within the sector's middle half▼ 97.6%
Equity€45,779within the sector's middle half-€26,685within the sector's middle half▼ 41.7%€10,366below the sector's middle half▼ 61.2%€26,424within the sector's middle half▲ 155%€26,805within the sector's middle half▲ 1.4%
Total assets€242,446within the sector's middle half-€388,647within the sector's middle half▲ 60.3%€1.2mabove the sector's middle half▲ 210%€1.4mabove the sector's middle half▲ 12.3%€1.4mabove the sector's middle half▲ 4.4%
Debt€196,667-€361,963▲ 84.0%€1.2m▲ 230%€1.3m▲ 11.1%€1.4m▲ 4.5%
Working capital€256,573above the sector's middle half€266,359above the sector's middle half▲ 3.8%€1.2mabove the sector's middle half▲ 359%€913,071above the sector's middle half▼ 25.3%
Solvency18.9%within the sector's middle half-6.9%within the sector's middle half▼ 12.0pp0.9%below the sector's middle half▼ 6.0pp2.0%below the sector's middle half▲ 1.1pp1.9%below the sector's middle half▼ 0.1pp
Current ratio3.33above the sector's middle half1.29within the sector's middle half▼ 2.0412.06above the sector's middle half▲ 10.772.91above the sector's middle half▼ 9.15
Return on assets (ROA)-1.7%within the sector's middle half--4.9%below the sector's middle half▼ 3.2pp-1.4%within the sector's middle half▲ 3.6pp1.2%within the sector's middle half▲ 2.5pp0.0%within the sector's middle half▼ 1.2pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, 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 falls in 2024; 2024 is 34% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.4m
Fixed assets
€20,400 =
Current assets
€1.4m ▲ 4.5%
Equity and liabilities €1.4m
Equity
€26,805 ▲ 1.4%
Debt
€1.4m ▲ 4.5%
Debt's share of the balance-sheet total rises from 98.0% to 98.1%. Equity and debt are higher.
Key figures and ratios
Quick ratio
0.00▼
2023 · 0.03
Debt to equity
51.68▲
2023 · 50.19
ROE
1.4%▼
2023 · 60.8%
Debt ≤ 1 year
€478,685▲
2023 · €110,450
Debt > 1 year
€906,667▼
2023 · €1.2m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,603 companies that looked in July 2024 the way this one looks now, 1.9% went bankrupt within 24 months and 96% are still going.
- Small
- 5 to 10 years old
- solvency under 10%
- a profit under 5% of the balance sheet
1.9%
went bankrupt
1.8%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 1,603 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €832 | €1,105 | €1,105 | €273 | - | - |
| Other operating charges640/8 | - | €62 | €124 | - | - | - |
| Gross operating margin9900 | -€3,357 | -€17,486 | -€15,026 | €83,096 | €54,543 | ▼ 34.4% |
| Operating profit (loss)9901 | -€4,188 | -€18,653 | -€16,255 | €82,823 | €54,543 | ▼ 34.1% |
| Financial income75/76B | - | - | - | €0 | - | - |
| Recurring financial income75 | - | - | - | €0 | - | - |
| Financial charges65/66B | - | €441 | €64 | €66,765 | €54,162 | ▼ 18.9% |
| Recurring financial charges65 | €33 | €441 | €64 | €66,765 | €54,162 | ▼ 18.9% |
| Profit (loss) for the period before taxes9903 | -€4,221 | -€19,094 | -€16,319 | €16,058 | €381 | ▼ 97.6% |
| Profit (loss) for the period9904 | -€4,221 | -€19,094 | -€16,319 | €16,058 | €381 | ▼ 97.6% |
| Profit (loss) for the period to be appropriated9905 | -€4,221 | -€19,094 | -€16,319 | €16,058 | €381 | ▼ 97.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €242,446 | €388,647 | €1.2m | €1.4m | €1.4m | ▲ 4.4% |
| Formation expenses20 | €2,483 | €1,378 | €273 | €0 | €0 | - |
| Fixed assets21/28 | - | €20,400 | €20,400 | €20,400 | €20,400 | = |
| Financial fixed assets28 | - | €20,400 | €20,400 | €20,400 | €20,400 | = |
| Current assets29/58 | €239,962 | €366,869 | €1.2m | €1.3m | €1.4m | ▲ 4.5% |
| Stocks and contracts in progress3 | - | €359,948 | €1.2m | €1.3m | €1.4m | ▲ 4.5% |
| Stocks30/36 | - | €359,948 | €1.2m | €1.3m | €1.4m | ▲ 4.5% |
| Amounts receivable within one year40/41 | - | €3,642 | €2,091 | €154 | €7 | ▼ 95.5% |
| Other amounts receivable41 | - | €3,642 | €2,091 | €154 | €7 | ▼ 95.5% |
| Cash at bank and in hand54/58 | €239,962 | €3,279 | €5,623 | €2,692 | €2,353 | ▼ 12.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €242,446 | €388,647 | €1.2m | €1.4m | €1.4m | ▲ 4.4% |
| Equity10/15 | €45,779 | €26,685 | €10,366 | €26,424 | €26,805 | ▲ 1.4% |
| Contributions10/11 | - | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Profit (loss) carried forward14 | -€4,221 | -€23,315 | -€39,634 | -€23,576 | -€23,195 | ▲ 1.6% |
| Amounts payable17/49 | €196,667 | €361,963 | €1.2m | €1.3m | €1.4m | ▲ 4.5% |
| Amounts payable after more than one year17 | €196,667 | €251,667 | €276,667 | €1.2m | €906,667 | ▼ 25.4% |
| Financial debts170/4 | - | €251,667 | €276,667 | €1.2m | €906,667 | ▼ 25.4% |
| Amounts payable within one year42/48 | - | €110,296 | €917,250 | €110,450 | €478,685 | ▲ 333% |
| Financial debts43 | - | - | - | - | €313,135 | - |
| Credit institutions430/8 | - | - | - | - | €313,135 | - |
| Trade debts44 | - | €4,871 | €821,825 | €13,516 | €9,996 | ▼ 26.0% |
| Suppliers440/4 | - | €4,871 | €821,825 | €13,516 | €9,996 | ▼ 26.0% |
| Other amounts payable47/48 | - | €105,425 | €95,425 | €96,934 | €155,554 | ▲ 60.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,221 | -€19,094 | -€16,319 | €16,058 | €381 | ▼ 97.6% |
| + Depreciation and write-downs630 | €832 | €1,105 | €1,105 | €273 | - | - |
| Operating cash flow (approximation) | -€3,389 | -€17,989 | -€15,214 | €16,331 | €381 | ▼ 97.7% |
| Investment in fixed assets (approximation) | - | - | -€1,105 | -€273 | €0 | ▲ 100% |
| Change in cash | - | -€236,683 | €2,344 | -€2,931 | -€339 | ▲ 88.4% |
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
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
08-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 69 days late
2023
31-12
Financial
Back to profitnet €16,058
Net result €16,058 after 3 loss-making years.
31-12
Financial
Liquidity times 9current ratio 12.06
Current ratio from 1.29 to 12.06; short-term debt falls from €917,250 to €110,450.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
04-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 96 days late
2021
31-12
Financial
Weakest financial yearnet -€19,094
Net result drops to -€19,094, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
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, Maasmechelen · 1 establishment unit since 2020
Ground area
991 m²
Building footprint
252 m²
Volume, LiDAR
979 m³
Parcel 73048E0288/00E000, Flanders · tallest building 10.1 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
VRL IMMO
since 20202.300.587.305
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73048E0288/00E000 | Flanders | 991 m² | 1 · 252 m² | 10.1 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.
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Of 9,698 companies in sector 68121 we hold annual accounts for 7,393. 4,409 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
Founded14-02-2020
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
E-invoicing
Reachable via Peppol
Peppol ID
0208:0743692565
Also
9925:BE0743692565
Registered
05-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.