VRX
ActiveSummary
VRX has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €15k and a net result of €30k. Equity is shrinking by ~17.4% per year across the filed fiscal years. Its solvency ranks better than 49% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency53▼-2
Growth58=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity tight (current ratio 1.37 against 1.41 in 2024; short-term debt: 72.1% and cash: 93% of total assets), and 72.1% 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
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
27.9%
Return on assets
57.2%
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 30-03-2026, 123 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
123 d early
2024
55 d early
2023
12 d early
2022
5 d early
2021
4 d late
2020
10 d late
← 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€15k▼ 0.8%
2024 · €15k
Total assets
€52k▲ 7.6%
2024 · €49k
Net result
€30k▲ 18.5%
2024 · €25k
Working capital
€14k▼ 0.4%
2024 · €14k
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
Operating result€10k€9k▼ 4.5%€21k▲ 121%€32k▲ 53.0%€38k▲ 17.3%
Net result€7k€6k▼ 13.6%€16k▲ 167%€25k▲ 60.6%€30k▲ 18.5%
Equity€38k▲ 21.6%€44k▲ 15.4%€15k▼ 65.3%€15k▼ 4.4%€15k▼ 0.8%
Total assets€56k▲ 9.0%€51k▼ 9.2%€68k▲ 34.6%€49k▼ 29.0%€52k▲ 7.6%
Debt€18k▼ 11.0%€7k▼ 62.6%€53k▲ 702%€34k▼ 36.1%€38k▲ 11.3%
Working capital€25k▲ 49.2%€38k▲ 49.7%€14k▼ 62.7%€14k▼ 1.7%€14k▼ 0.4%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 17% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €52k
Fixed assets
€740 ▼ 8.2%
Current assets
€51k ▲ 7.9%
Equity and liabilities €52k
Equity
€15k ▼ 0.8%
Debt
€38k ▲ 11.3%
Debt's share of the balance-sheet total rises from 69.8% to 72.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€38k▲
2024 · €33k
Cash flow
€30k▲
2024 · €26k
Current ratio
1.37▼
2024 · 1.41
Debt to equity
2.59▲
2024 · 2.31
ROE
205.4%▲
2024 · 171.9%
ROA
57.2%▲
2024 · 52.0%
Interest coverage
434.19▲
2024 · 351.60
Debt ≤ 1 year
€38k▲
2024 · €34k
Income taxes
€8k▲
2024 · €7k
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8k | €8k | €6k | €519 | €378 | ▼ 27.2% |
| Other operating charges640/8 | €758 | €737 | €775 | €791 | €786 | ▼ 0.7% |
| Gross operating margin9900 | €19k | €19k | €27k | €33k | €39k | ▲ 16.2% |
| Operating profit (loss)9901 | €10k | €9k | €21k | €32k | €38k | ▲ 17.3% |
| Financial charges65/66B | €232 | €141 | €90 | €93 | €88 | ▼ 5.6% |
| Recurring financial charges65 | €232 | €141 | €90 | €93 | €88 | ▼ 5.6% |
| Profit (loss) for the period before taxes9903 | €10k | €9k | €21k | €32k | €38k | ▲ 17.4% |
| Income taxes67/77 | €3k | €3k | €5k | €7k | €8k | ▲ 13.3% |
| Profit (loss) for the period9904 | €7k | €6k | €16k | €25k | €30k | ▲ 18.5% |
| Profit (loss) for the period to be appropriated9905 | €7k | €6k | €16k | €25k | €30k | ▲ 18.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €56k | €51k | €68k | €49k | €52k | ▲ 7.6% |
| Fixed assets21/28 | €13k | €6k | €1k | €806 | €740 | ▼ 8.2% |
| Tangible fixed assets22/27 | €13k | €6k | €1k | €806 | €740 | ▼ 8.2% |
| Furniture and vehicles24 | €12k | €6k | €1k | €806 | €740 | ▼ 8.2% |
| Other tangible fixed assets26 | €814 | - | - | - | - | - |
| Current assets29/58 | €43k | €44k | €67k | €48k | €51k | ▲ 7.9% |
| Amounts receivable within one year40/41 | €4k | €11k | €254 | €906 | €1k | ▲ 14.4% |
| Trade receivables40 | €4k | €11k | - | - | - | - |
| Other amounts receivable41 | - | €29 | €254 | €906 | €1k | ▲ 14.4% |
| Cash at bank and in hand54/58 | €36k | €32k | €65k | €45k | €49k | ▲ 7.9% |
| Deferred charges and accrued income490/1 | €3k | €2k | €2k | €2k | €2k | ▲ 5.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €56k | €51k | €68k | €49k | €52k | ▲ 7.6% |
| Equity10/15 | €38k | €44k | €15k | €15k | €15k | ▼ 0.8% |
| Contributions10/11 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves13 | €44k | €50k | €13k | €12k | €12k | = |
| Non-distributable reserves130/1 | €200 | €200 | €200 | €200 | €200 | = |
| Reserves not available under the articles1311 | €200 | €200 | €200 | €200 | €200 | = |
| Distributable reserves133 | €44k | €49k | €13k | €12k | €12k | = |
| Profit (loss) carried forward14 | €-8k | €-7k | - | €221 | €100 | ▼ 54.7% |
| Amounts payable17/49 | €18k | €7k | €53k | €34k | €38k | ▲ 11.3% |
| Amounts payable within one year42/48 | €18k | €7k | €53k | €34k | €38k | ▲ 11.3% |
| Current portion of amounts payable after more than one year42 | €7k | - | - | - | - | - |
| Trade debts44 | €3k | €2k | €2k | €2k | €2k | ▲ 14.1% |
| Suppliers440/4 | €3k | €2k | €2k | €2k | €2k | ▲ 14.1% |
| Taxes, remuneration and social security45 | €8k | €5k | €10k | €9k | €10k | ▲ 13.7% |
| Taxes450/3 | €8k | €5k | €7k | €9k | €10k | ▲ 13.7% |
| Remuneration and social security454/9 | - | - | €2k | - | - | - |
| Other amounts payable47/48 | €224 | - | €41k | €23k | €26k | ▲ 10.1% |
| Accrued charges and deferred income492/3 | - | - | €87 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7k | €6k | €16k | €25k | €30k | ▲ 18.5% |
| + Depreciation and write-downs630 | €8k | €8k | €6k | €519 | €378 | ▼ 27.2% |
| Operating cash flow (approximation) | €15k | €14k | €21k | €26k | €30k | ▲ 17.5% |
| Investment in fixed assets (approximation) | - | €-2k | €-520 | €0 | €-312 | - |
| Change in cash | - | €-4k | €33k | €-20k | €4k | ▲ 118% |
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
30-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2020net €30k ▲18.5%
Operating result €38k, net result €30k, both a record.
06-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
19-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
26-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity triplescurrent ratio 6.73
Current ratio from 2.43 to 6.73; short-term debt falls from €18k to €7k.
04-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 4 days late
2021
31-12
Financial
Back to profitnet €7k
Net result €7k after one loss-making year.
10-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 10 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, Vorst · 1 establishment unit since 2017
Ground area
8,885 m²
Building footprint
1,697 m²
Volume, LiDAR
14,270 m³
2 parcels, Brussels, Flanders · tallest building 11.2 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
VRX Invest
since 20172.272.240.638
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21382C0005/00B004 | Brussels | 8,699 m² | 1 · 1,615 m² | 11.2 m · 3 fl. |
| 22003A0280/00Y000 | Flanders | 186 m² | 1 · 82 m² | 10.4 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 11,756 companies in sector 68310 we hold annual accounts for 6,906. 3,479 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
Founded22-12-2017
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
Scores and ratios are computed by Checked and are not a credit decision.