VRSTN
ActiveSummary
VRSTN has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€74,507) and a net result of -€65,906. Equity is growing by ~15.1% per year across the filed fiscal years. Its solvency ranks better than 10% of 181 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability12▼-14
Solvency13▼-11
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
short-term debt: 0.1% and cash: 3% of total assets, and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 74
Relative position
BE, all sectors
reference
Other professional, scientific and technical activities (NACE 74)
about 48% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-11.7%
Return on assets
-10.3%
Age of the figures
12 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€74,507
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 24-03-2026, 37 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
37 d early
2024
8 d early
2023
8 d early
2022
6 d early
2021
8 d early
2020
3 d early
2019
36 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 15 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 22 April (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€65,906▼ 116%
2024 · -€30,522
Working capital
€71,990▼ 54.4%
2024 · €157,881
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical 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
Line20212022202320242025
Operating result€3,459▼ 55.3%€26,325▲ 661%€12,951▼ 50.8%-€4,157-€4,280▼ 2.9%
Net result€3,288within the sector's middle half▼ 56.6%€26,154within the sector's middle half▲ 695%€14,538within the sector's middle half▼ 44.4%-€30,522below the sector's middle half-€65,906below the sector's middle half▼ 116%
Equity-€18,771below the sector's middle half▲ 14.9%€7,383below the sector's middle half€21,920within the sector's middle half▲ 197%-€8,602below the sector's middle half-€74,507below the sector's middle half▼ 766%
Total assets€52,144below the sector's middle half▲ 69.3%€68,102below the sector's middle half▲ 30.6%€180,487within the sector's middle half▲ 165%€638,797within the sector's middle half▲ 254%€637,521within the sector's middle half▼ 0.2%
Debt€70,916▲ 34.2%€60,719▼ 14.4%€158,567▲ 161%€647,398▲ 308%€712,028▲ 10.0%
Working capital€45,787within the sector's middle half▲ 81.7%€62,224within the sector's middle half▲ 35.9%€74,766within the sector's middle half▲ 20.2%€157,881within the sector's middle half▲ 111%€71,990within the sector's middle half▼ 54.4%
Solvency-36.0%below the sector's middle half▲ 35.6pp10.8%below the sector's middle half▲ 46.8pp12.1%below the sector's middle half▲ 1.3pp-1.3%below the sector's middle half▼ 13.5pp-11.7%below the sector's middle half▼ 10.3pp
Current ratio34.75above the sector's middle half▼ 7.6971.87above the sector's middle half▲ 37.13
Return on assets (ROA)6.3%within the sector's middle half▼ 18.3pp38.4%above the sector's middle half▲ 32.1pp8.1%within the sector's middle half▼ 30.3pp-4.8%below the sector's middle half▼ 12.8pp-10.3%below the sector's middle half▼ 5.6pp
above
within
below
the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €4,280 in 2025 against €4,157 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €637,521
Fixed assets
€565,000 ▲ 17.7%
Current assets
€72,521 ▼ 54.3%
Key figures and ratios
Debt to equity
-9.56▲
2024 · -75.26
Debt ≤ 1 year
€530▼
2024 · €916
Debt > 1 year
€696,009▲
2024 · €639,375
A ratio outside any meaningful range has been withheld (balance sheet total €637,521, equity -€74,507).
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 |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €348 | €348 | €433 | €387 | €400 | ▲ 3.2% |
| Gross operating margin9900 | €3,807 | €26,673 | €13,384 | -€3,770 | -€3,880 | ▼ 2.9% |
| Operating profit (loss)9901 | €3,459 | €26,325 | €12,951 | -€4,157 | -€4,280 | ▼ 2.9% |
| Financial income75/76B | - | - | €2,023 | €13,171 | €4,926 | ▼ 62.6% |
| Recurring financial income75 | - | - | €2,023 | €13,171 | €4,926 | ▼ 62.6% |
| Financial charges65/66B | €171 | €171 | €263 | €39,536 | €66,552 | ▲ 68.3% |
| Recurring financial charges65 | €171 | €171 | €263 | €39,536 | €66,552 | ▲ 68.3% |
| Profit (loss) for the period before taxes9903 | €3,288 | €26,154 | €14,710 | -€30,522 | -€65,906 | ▼ 116% |
| Income taxes67/77 | - | - | €173 | - | - | - |
| Profit (loss) for the period9904 | €3,288 | €26,154 | €14,538 | -€30,522 | -€65,906 | ▼ 116% |
| Profit (loss) for the period to be appropriated9905 | €3,288 | €26,154 | €14,538 | -€30,522 | -€65,906 | ▼ 116% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €52,144 | €68,102 | €180,487 | €638,797 | €637,521 | ▼ 0.2% |
| Fixed assets21/28 | €5,000 | €5,000 | €105,000 | €480,000 | €565,000 | ▲ 17.7% |
| Financial fixed assets28 | €5,000 | €5,000 | €105,000 | €480,000 | €565,000 | ▲ 17.7% |
| Current assets29/58 | €47,144 | €63,102 | €75,487 | €158,797 | €72,521 | ▼ 54.3% |
| Amounts receivable within one year40/41 | €20,102 | €54,873 | €57,924 | €29,361 | €43,148 | ▲ 47.0% |
| Trade receivables40 | €19,785 | €54,792 | €55,530 | €28,991 | €43,058 | ▲ 48.5% |
| Other amounts receivable41 | €317 | €81 | €2,394 | €370 | €90 | ▼ 75.7% |
| Cash at bank and in hand54/58 | €27,042 | €8,230 | €15,540 | €114,242 | €18,965 | ▼ 83.4% |
| Deferred charges and accrued income490/1 | - | - | €2,023 | €15,194 | €10,408 | ▼ 31.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €52,144 | €68,102 | €180,487 | €638,797 | €637,521 | ▼ 0.2% |
| Equity10/15 | -€18,771 | €7,383 | €21,920 | -€8,602 | -€74,507 | ▼ 766% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €600 | €600 | €600 | €600 | €600 | = |
| Non-distributable reserves130/1 | €600 | €600 | - | - | - | - |
| Reserves not available under the articles1311 | €600 | €600 | - | - | - | - |
| Distributable reserves133 | - | - | €600 | €600 | €600 | = |
| Profit (loss) carried forward14 | -€31,771 | -€5,617 | €8,920 | -€21,602 | -€87,507 | ▼ 305% |
| Amounts payable17/49 | €70,916 | €60,719 | €158,567 | €647,398 | €712,028 | ▲ 10.0% |
| Amounts payable after more than one year17 | - | - | €100,000 | €639,375 | €696,009 | ▲ 8.9% |
| Financial debts170/4 | - | - | - | €539,375 | €596,009 | ▲ 10.5% |
| Other amounts payable178/9 | - | - | €100,000 | €100,000 | €100,000 | = |
| Amounts payable within one year42/48 | €1,357 | €878 | €721 | €916 | €530 | ▼ 42.1% |
| Trade debts44 | €348 | - | - | €385 | - | - |
| Suppliers440/4 | €348 | - | - | €385 | - | - |
| Taxes, remuneration and social security45 | - | - | €173 | - | - | - |
| Taxes450/3 | - | - | €173 | - | - | - |
| Other amounts payable47/48 | €1,009 | €878 | €548 | €530 | €530 | = |
| Accrued charges and deferred income492/3 | €69,559 | €59,841 | €57,845 | €7,108 | €15,488 | ▲ 118% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,288 | €26,154 | €14,538 | -€30,522 | -€65,906 | ▼ 116% |
| Operating cash flow (approximation) | €3,288 | €26,154 | €14,538 | -€30,522 | -€65,906 | ▼ 116% |
| Investment in fixed assets (approximation) | - | €0 | -€100,000 | -€375,000 | -€85,000 | ▲ 77.3% |
| Change in cash | - | -€18,813 | €7,310 | €98,702 | -€95,277 | ▼ 197% |
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
24-03
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
30-09
Financial
Weakest financial yearnet -€65,906
Net result drops to -€65,906, the lowest in the series.
22-04
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
22-04
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
24-04
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
30-09
Financial
Highest result since 2018net €26,154 ▲695%
Operating result €26,325, net result €26,154, both a record.
30-09
Financial
Liquidity doublescurrent ratio 71.87
Current ratio from 34.75 to 71.87; short-term debt falls from €1,357 to €878.
22-04
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
27-04
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
30-09
Financial
Back to profitnet €7,569
Net result €7,569 after 2 loss-making years.
25-03
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
24-04
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
11-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
05-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 5 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Watermaal-Bosvoorde · 1 establishment unit since 2015
Ground area
5,127 m²
Building footprint
1,510 m²
Volume, LiDAR
23,163 m³
Parcel 21652E0039/00H003, Brussels · tallest building 36.3 m, ±1 floor. Linked by address, not a title deed.
288
companies at this address
See who is registered here
1 establishment unit
VRSTN
since 20152.246.708.555
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21652E0039/00H003 | Brussels | 5,127 m² | 1 · 1,510 m² | 36.3 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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 30-09-2025 list no shareholders, and no other source names one.
Holdings 1
-
100%
According to the annual accounts to 30-09-2025 of VRSTN and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 6,288 companies in sector 74120 we hold annual accounts for 1,011. 866 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
Founded12-10-2015
Fiscal year end30-09
Activities, NACEBEL 2025
74120Graphic design and visual communication
14299Manufacture of wearing apparel
26520Manufacture of computer, electronic and optical products
32123Manufacture of jewellery
74111Design of textile patterns, clothing, jewellery, furniture and decorative items
E-invoicing
Reachable via Peppol
Peppol ID
0208:0640828223
Registered
28-12-2025
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.