VRS Projects
ActiveSummary
VRS Projects has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €176,028 and a net result of €32,630. Equity is growing by ~23.4% per year across the filed fiscal years. Its solvency ranks better than 86% of 14173 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability88▼-7
Solvency100=
Growth52=
Track record94
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15,000 at 30 days acceptable
Liquidity ample (current ratio 4.81 against 6.7 in 2024; short-term debt: 18.1% and cash: 40.6% of total assets), and 18.1% 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+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 →
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
81.9%
Return on assets
15.2%
Age of the figures
9 mo
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 08-07-2026, 23 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
23 d early
2024
16 d early
2023
15 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 18 days before 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 (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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€176,028▲ 22.8%
2024 · €143,398
Total assets
€214,856▲ 31.3%
2024 · €163,599
Net result
€32,630▼ 5.5%
2024 · €34,526
Working capital
€147,994▲ 28.5%
2024 · €115,193
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
Line202320242025
Operating result€137,123-€44,066▼ 67.9%€45,392▲ 3.0%
Net result€103,872-€34,526▼ 66.8%€32,630▼ 5.5%
Equity€108,872-€143,398▲ 31.7%€176,028▲ 22.8%
Total assets€133,406-€163,599▲ 22.6%€214,856▲ 31.3%
Debt€24,533-€20,201▼ 17.7%€38,828▲ 92.2%
Working capital€80,547-€115,193▲ 43.0%€147,994▲ 28.5%
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 3% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €214,856
Fixed assets
€28,034 ▼ 0.6%
Current assets
€186,822 ▲ 38.0%
Equity and liabilities €214,856
Equity
€176,028 ▲ 22.8%
Debt
€38,828 ▲ 92.2%
Debt's share of the balance-sheet total rises from 12.3% to 18.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€51,823▲
2024 · €49,346
Cash flow
€39,061▼
2024 · €39,806
Current ratio
4.81▼
2024 · 6.70
Debt to equity
0.22▲
2024 · 0.14
ROE
18.5%▼
2024 · 24.1%
ROA
15.2%▼
2024 · 21.1%
Interest coverage
653.75▼
2024 · 704.85
Debt ≤ 1 year
€38,828▲
2024 · €20,201
Income taxes
€12,683▲
2024 · €9,495
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,200 | €5,280 | €6,431 | ▲ 21.8% |
| Other operating charges640/8 | €751 | €1,684 | €1,302 | ▼ 22.7% |
| Gross operating margin9900 | €144,074 | €51,031 | €53,125 | ▲ 4.1% |
| Operating profit (loss)9901 | €137,123 | €44,066 | €45,392 | ▲ 3.0% |
| Financial income75/76B | €0 | €25 | €1 | ▼ 97.9% |
| Recurring financial income75 | €0 | €25 | €1 | ▼ 97.9% |
| Financial charges65/66B | €339 | €70 | €79 | ▲ 13.2% |
| Recurring financial charges65 | €339 | €70 | €79 | ▲ 13.2% |
| Profit (loss) for the period before taxes9903 | €136,784 | €44,022 | €45,313 | ▲ 2.9% |
| Income taxes67/77 | €32,912 | €9,495 | €12,683 | ▲ 33.6% |
| Profit (loss) for the period9904 | €103,872 | €34,526 | €32,630 | ▼ 5.5% |
| Profit (loss) for the period to be appropriated9905 | €103,872 | €34,526 | €32,630 | ▼ 5.5% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €133,406 | €163,599 | €214,856 | ▲ 31.3% |
| Fixed assets21/28 | €28,562 | €28,206 | €28,034 | ▼ 0.6% |
| Tangible fixed assets22/27 | €20,062 | €17,706 | €17,534 | ▼ 1.0% |
| Plant, machinery and equipment23 | €6,413 | €7,518 | €5,258 | ▼ 30.1% |
| Furniture and vehicles24 | €13,649 | €10,188 | €12,275 | ▲ 20.5% |
| Financial fixed assets28 | €8,500 | €10,500 | €10,500 | = |
| Current assets29/58 | €104,844 | €135,393 | €186,822 | ▲ 38.0% |
| Amounts receivable within one year40/41 | €50,563 | €45,490 | €97,522 | ▲ 114% |
| Trade receivables40 | €48,303 | €30,623 | €94,385 | ▲ 208% |
| Other amounts receivable41 | €2,261 | €14,868 | €3,137 | ▼ 78.9% |
| Cash at bank and in hand54/58 | €52,884 | €79,773 | €87,332 | ▲ 9.5% |
| Deferred charges and accrued income490/1 | €1,396 | €10,131 | €1,968 | ▼ 80.6% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €133,406 | €163,599 | €214,856 | ▲ 31.3% |
| Equity10/15 | €108,872 | €143,398 | €176,028 | ▲ 22.8% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €40,000 | €40,000 | €72,000 | ▲ 80.0% |
| Distributable reserves133 | €40,000 | €40,000 | €72,000 | ▲ 80.0% |
| Profit (loss) carried forward14 | €63,872 | €98,398 | €99,028 | ▲ 0.6% |
| Amounts payable17/49 | €24,533 | €20,201 | €38,828 | ▲ 92.2% |
| Amounts payable within one year42/48 | €24,297 | €20,201 | €38,828 | ▲ 92.2% |
| Trade debts44 | €4,911 | €10,706 | €6,566 | ▼ 38.7% |
| Suppliers440/4 | €4,911 | €10,706 | €6,566 | ▼ 38.7% |
| Taxes, remuneration and social security45 | €12,912 | €9,495 | €22,286 | ▲ 135% |
| Taxes450/3 | €12,912 | €9,495 | €22,286 | ▲ 135% |
| Other amounts payable47/48 | €6,474 | - | €9,976 | - |
| Accrued charges and deferred income492/3 | €237 | - | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €103,872 | €34,526 | €32,630 | ▼ 5.5% |
| + Depreciation and write-downs630 | €6,200 | €5,280 | €6,431 | ▲ 21.8% |
| Operating cash flow (approximation) | €110,072 | €39,806 | €39,061 | ▼ 1.9% |
| Investment in fixed assets (approximation) | - | -€4,924 | -€6,259 | ▼ 27.1% |
| Change in cash | - | €26,888 | €7,560 | ▼ 71.9% |
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
08-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €32,630 ▼5.5%
Net result drops to €32,630, the lowest in the series.
31-12
Financial
Equity above €150,000Eq €176,028 ▲22.8%
3 profitable years in a row build equity to €176,028.
15-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
16-07
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, Willebroek · 1 establishment unit since 2022
Ground area
990 m²
Building footprint
222 m²
Volume, LiDAR
395 m³
Parcel 12036A0057/00L000, Flanders · tallest building 19.4 m. Linked by address, not a title deed.
1 establishment unit
VRS Projects
since 20222.335.224.025
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12036A0057/00L000 | Flanders | 990 m² | 1 · 222 m² | 19.4 m |
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 9,699 companies in sector 68121 we hold annual accounts for 7,385. 5,351 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
Founded24-08-2022
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
41001General construction of residential buildings
41003General construction of other non-residential buildings
68122Development of non-residential building projects
43211General electrical installation work
43221Plumbing work
Scores and ratios are computed by Checked and are not a credit decision.