Equity
VS ELECTRONICS has made a profit in every financial year since 2007.
VS ELECTRONICS has made a profit in every financial year since 2007.
The result rose in 2025: mostly from a one-off income of €1.7m.
In 2025, 2 people joined and 4 left.
The last five annual accounts were filed 2 to 47 days before the end of the period.
Higher net result than 95% of companies in wholesale trade. Sector median €26,717 · 9,877 companies.
The dashed line is the sector median: 0.2% across 4,374 companies (NACE 46, small).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, small). It does better than 72% of them on solvency, 58% on liquidity, 97% on profitability and 94% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 30-06-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 20,137 companies had the same profile as VS ELECTRONICS has now. Each dot stands for 51 companies, two years later.
That fits the bankruptcy probability of VS ELECTRONICS itself: 0.1% within 12 months.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 20,137 companies, not a prediction for VS ELECTRONICS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is ample, with a current ratio of 2.72 (2.57 in 2024), above the usual 1.5. Short-term debt is 25.8% and cash 6.7% of total assets. 36.9% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 33 days before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| VS ELECTRONICS Heist-op-den-Berg | €5.2m | €3.4m | 63.1% | 15 |
| VALVES CO Lint | €4.5m | €2.0m | 67.3% | 13.6 |
| INDIC Schelle | €5.4m | €1.8m | 41.9% | 19.2 |
| KOZMOZ DESIGN & DISPLAY Mechelen | €3.5m | €2.0m | 61.3% | 8.8 |
| ALTEC INDUSTRIAL IDENTIFICATION Zemst | €4.9m | €3.9m | 46.4% | 17.3 |
| DIGI CONSULT Denderleeuw | €9.8m | €3.3m | 28.9% | 12.3 |
| AZBIL EUROPE Zaventem | €4.2m | €2.2m | 47.5% | 7.9 |
These companies have the same main activity as VS ELECTRONICS: agents in the wholesale of industrial machinery, ships and aircraft (NACE 46140). They are comparable in size and age: total assets between €3.5m and €9.8m, founded between 1993 and 2004.
VS ELECTRONICS files the abbreviated format. That format states no turnover. The gross margin rose from €319,390 in 2007 to €3.4m in 2025.
The balance sheet grew most from 2010 to 2012 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €14.0m. Estimated: probably between €8.6m and €24.0m.
Higher than 69% of 9,901 companies in 2025.
Higher than 68% of 9,664 companies in 2025.
Higher than 92% of 9,779 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter · Staff: top quarter
Staff costs divided by the average number of full-time equivalents.
In 2025, 2 people joined and 4 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||||
20/58 |
5.2m | 5.2m | 4.8m | 4.6m | 4.4m | 4.4m | 4.6m | 4.3m | 4.3m | 2.7m | 2.6m | 2.5m | 2.0m | 4.5m | 2.4m | 1.9m | 1.3m | 1.1m | 448,458 | |
21/28 |
1.6m | 2.2m | 2.0m | 1.9m | 1.8m | 1.9m | 1.8m | 1.9m | 2.1m | 1.2m | 1.2m | 1.2m | 576,794 | 3.5m | 1.4m | 1.2m | 646,070 | 606,852 | 108,892 | |
21 |
0 | 52,619 | 78,928 | 105,237 | 131,546 | 157,856 | 184,165 | 212,474 | 240,783 | - | 245 | 489 | - | - | - | 0 | 1,114 | 2,694 | 1,000 | |
22/27 |
1.6m | 2.1m | 1.9m | 1.8m | 1.7m | 1.7m | 1.7m | 1.7m | 1.8m | 1.2m | 1.2m | 1.2m | 576,794 | 3.5m | 1.4m | 1.2m | 644,957 | 604,157 | 107,892 | |
22 |
747,916 | 761,793 | 770,519 | 781,264 | 797,438 | 813,667 | 830,442 | 845,021 | 861,577 | 870,417 | 884,667 | 840,000 | 261,333 | 1.2m | 940,800 | 940,800 | 376,477 | 376,477 | - | |
23 |
41,525 | 60,235 | 52,289 | 111,469 | 202,941 | 144,453 | 127,526 | 44,456 | 43,804 | 34,321 | 57,338 | 84,110 | 63,268 | 90,803 | 149,809 | 189,795 | 144,166 | 157,020 | 53,803 | |
24 |
32,482 | 27,616 | 35,490 | 43,851 | 48,543 | 54,856 | 97,903 | 151,882 | 140,070 | 146,667 | 155,947 | 207,973 | 240,592 | 144,230 | 116,088 | 87,001 | 124,314 | 70,661 | 54,089 | |
25 |
729,682 | 811,711 | 592,482 | 373,081 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
26 |
5,538 | 461,021 | 463,740 | 466,458 | 469,177 | 469,620 | 445,500 | 445,500 | 445,500 | - | - | - | - | - | - | - | - | - | - | |
27 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 2.0m | 177,774 | - | - | - | - | |
29/58 |
3.7m | 3.0m | 2.8m | 2.8m | 2.6m | 2.5m | 2.7m | 2.4m | 2.2m | 1.4m | 1.4m | 1.4m | 1.4m | 1.0m | 980,152 | 665,334 | 613,190 | 487,318 | 339,565 | |
29 |
554,732 | 268,455 | 204,489 | 41,000 | 41,000 | 41,000 | - | - | - | - | - | 13,037 | - | - | - | - | - | - | - | |
290 |
- | - | - | - | - | - | - | - | - | - | - | 13,037 | - | - | - | - | - | - | - | |
291 |
554,732 | 268,455 | 204,489 | 41,000 | 41,000 | 41,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
3 |
1.1m | 1.1m | 952,011 | 964,142 | 954,615 | 905,837 | 959,852 | 948,459 | 914,755 | 570,942 | 521,538 | 420,603 | 385,195 | 266,114 | 225,202 | 193,657 | 162,061 | 149,619 | 56,200 | |
30/36 |
1.1m | 1.1m | 952,011 | 964,142 | 954,615 | 905,837 | 879,032 | 818,036 | 796,540 | 570,942 | 521,538 | 420,603 | 385,195 | 266,114 | 225,202 | 193,657 | 162,061 | 149,619 | 56,200 | |
37 |
- | - | - | - | - | 0 | 80,820 | 130,424 | 118,215 | - | - | - | - | - | - | - | - | - | - | |
40/41 |
535,694 | 632,256 | 893,977 | 814,180 | 790,971 | 631,909 | 993,186 | 955,383 | 857,101 | 655,360 | 664,011 | 692,453 | 786,530 | 461,036 | 618,810 | 372,421 | 330,158 | 241,686 | 230,539 | |
40 |
441,956 | 555,228 | 855,373 | 631,210 | 730,979 | 600,117 | 975,161 | 859,788 | 727,378 | 543,320 | 549,377 | 606,923 | 688,471 | 329,806 | 460,716 | 314,937 | 288,757 | 241,686 | 210,838 | |
41 |
93,738 | 77,028 | 38,604 | 182,970 | 59,992 | 31,792 | 18,025 | 95,595 | 129,722 | 112,040 | 114,634 | 85,530 | 98,060 | 131,230 | 158,094 | 57,484 | 41,400 | 0 | 19,701 | |
50/53 |
1.0m | 402,000 | 402,000 | 402,000 | 402,000 | 452,000 | 407,000 | - | 1,870 | 14,926 | 19,771 | 31,870 | 31,870 | 1,870 | 1,870 | 2,801 | 27,613 | 15,000 | 7,239 | |
54/58 |
348,960 | 587,746 | 281,667 | 485,997 | 370,993 | 400,775 | 287,830 | 261,978 | 405,647 | 172,957 | 175,207 | 163,290 | 128,679 | 300,542 | 114,382 | 86,771 | 74,859 | 61,244 | 30,920 | |
490/1 |
131,048 | 66,995 | 67,163 | 55,788 | 62,470 | 69,966 | 78,607 | 190,202 | 36,517 | 26,720 | 36,119 | 34,264 | 41,622 | 16,393 | 19,888 | 9,684 | 18,499 | 19,769 | 14,667 | |
| Balance sheet: equity and liabilities | ||||||||||||||||||||
10/49 |
5.2m | 5.2m | 4.8m | 4.6m | 4.4m | 4.4m | 4.6m | 4.3m | 4.3m | 2.7m | 2.6m | 2.5m | 2.0m | 4.5m | 2.4m | 1.9m | 1.3m | 1.1m | 448,458 | |
10/15 |
3.3m | 2.0m | 1.9m | 1.8m | 1.7m | 1.5m | 1.4m | 1.3m | 1.2m | 1.2m | 1.1m | 1.0m | 373,269 | 794,531 | 788,092 | 906,525 | 289,688 | 214,927 | 104,180 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 0 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
100 |
- | - | - | - | - | 0 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
11 |
- | - | - | - | - | 18,600 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
1100/10 |
- | - | - | - | - | 18,600 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
12 |
588,000 | 588,000 | 588,000 | 588,000 | 588,000 | 588,000 | 588,000 | 588,000 | 588,000 | 588,000 | 588,000 | 588,000 | - | 564,323 | 564,323 | 564,323 | - | - | - | |
13 |
1.9m | 683,474 | 683,474 | 683,474 | 683,474 | 766,474 | 616,860 | 616,860 | 616,860 | 549,860 | 444,860 | 414,860 | 349,860 | 209,860 | 194,860 | 284,860 | 241,110 | 172,360 | 58,610 | |
130/1 |
1.0m | 402,000 | 402,000 | 403,860 | 403,860 | 403,860 | 402,000 | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | 0 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
- | - | 0 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
1312 |
1.0m | 402,000 | 402,000 | 402,000 | - | 402,000 | 402,000 | - | - | - | - | - | - | - | - | - | - | - | - | |
1319 |
- | - | - | - | - | 1,860 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
132 |
631,500 | - | - | 0 | 12,020 | 134,456 | 145,000 | 145,000 | 220,000 | 158,000 | 158,000 | 158,000 | 158,000 | 83,000 | 83,000 | 83,000 | 64,250 | 45,500 | 26,750 | |
133 |
281,474 | 281,474 | 281,474 | 279,614 | 267,594 | 228,158 | 68,000 | 470,000 | 395,000 | 390,000 | 285,000 | 255,000 | 190,000 | 125,000 | 110,000 | 200,000 | 175,000 | 125,000 | 30,000 | |
14 |
751,593 | 756,731 | 609,013 | 509,425 | 432,584 | 176,189 | 176,189 | 88,274 | 3,038 | 3,663 | 2,176 | 5,810 | 4,809 | 1,748 | 10,309 | 38,742 | 29,978 | 23,967 | 26,970 | |
16 |
- | - | - | - | 0 | 80,000 | 82,128 | 84,467 | 88,413 | 78,947 | 53,231 | 21,656 | 26,460 | - | - | - | - | - | - | |
160/5 |
- | - | - | - | 0 | 80,000 | 82,128 | 84,467 | 88,413 | 78,947 | 53,231 | 21,656 | 26,460 | - | - | - | - | - | - | |
160 |
- | - | - | - | - | 0 | 2,128 | 4,467 | 8,413 | - | - | - | - | - | - | - | - | - | - | |
162 |
- | - | - | - | 0 | 80,000 | 80,000 | 80,000 | 80,000 | - | - | - | - | - | - | - | - | - | - | |
17/49 |
1.9m | 3.1m | 2.9m | 2.8m | 2.7m | 2.7m | 3.1m | 2.9m | 3.0m | 1.4m | 1.5m | 1.5m | 1.6m | 3.7m | 1.6m | 976,404 | 969,573 | 879,242 | 344,278 | |
17 |
560,859 | 1.9m | 1.7m | 1.9m | 1.7m | 1.3m | 1.4m | 1.3m | 1.4m | 553,192 | 532,003 | 478,917 | 425,884 | 300,735 | 798,615 | 92,711 | 120,371 | 123,936 | 99,329 | |
170/4 |
534,459 | 1.9m | 1.6m | 1.8m | 1.7m | 1.3m | 1.4m | 1.3m | 1.4m | 526,792 | 505,603 | 452,517 | 399,484 | 300,735 | 741,015 | 92,711 | 120,371 | 123,936 | 99,329 | |
178/9 |
26,400 | 51,300 | 51,300 | 26,400 | 26,400 | 26,400 | 26,400 | 26,400 | 26,400 | 26,400 | 26,400 | 26,400 | 26,400 | - | 57,600 | - | - | - | - | |
42/48 |
1.4m | 1.2m | 1.2m | 922,669 | 972,421 | 1.4m | 1.5m | 1.5m | 1.5m | 851,103 | 947,887 | 970,788 | 1.0m | 3.4m | 758,769 | 883,693 | 849,201 | 755,306 | 244,949 | |
42 |
711,206 | 561,859 | 343,543 | 270,710 | 222,552 | 293,078 | 321,851 | 347,802 | 305,043 | 176,723 | 117,715 | 110,116 | 83,942 | 128,018 | 201,484 | 165,578 | 147,920 | 112,673 | 49,065 | |
43 |
101,731 | 89,548 | 82,605 | 118,626 | 111,799 | 310,756 | 262,593 | 290,453 | 259,771 | 278,751 | 215,461 | 126,342 | 63,469 | 2.5m | 87,755 | 550,623 | 502,741 | 464,664 | 30,643 | |
430/8 |
101,731 | 89,548 | 82,605 | 118,626 | 111,799 | 310,756 | 262,593 | 290,453 | 259,771 | 278,751 | 215,461 | 126,342 | 63,469 | 2.5m | 87,755 | 550,623 | 502,741 | 464,664 | 30,643 | |
44 |
423,207 | 347,786 | 423,896 | 297,010 | 446,667 | 293,751 | 507,168 | 653,327 | 835,904 | 309,041 | 439,192 | 603,874 | 595,219 | 696,818 | 294,437 | 134,406 | 114,984 | 109,746 | 115,430 | |
440/4 |
423,207 | 347,786 | 423,896 | 297,010 | 446,667 | 293,751 | 507,168 | 653,327 | 835,904 | 309,041 | 439,192 | 603,874 | 595,219 | 696,818 | 294,437 | 134,406 | 114,984 | 109,746 | 115,430 | |
46 |
- | 0 | 16,721 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | |
45 |
114,681 | 157,906 | 196,414 | 134,213 | 177,694 | 156,649 | 145,195 | 130,021 | 78,656 | 86,589 | 107,142 | 120,208 | 174,636 | 97,427 | 86,733 | 27,865 | 71,272 | 61,572 | 49,253 | |
450/3 |
2,869 | 21,649 | 67,549 | 30,221 | 67,819 | 49,599 | 35,202 | 36,167 | 697 | 13,346 | 30,027 | 41,137 | 89,113 | 16,157 | 30,501 | 7,854 | 26,021 | 29,473 | 27,858 | |
454/9 |
111,812 | 136,257 | 128,865 | 103,992 | 109,875 | 107,049 | 109,993 | 93,853 | 77,959 | 73,242 | 77,116 | 79,071 | 85,523 | 81,270 | 56,232 | 20,011 | 45,251 | 32,099 | 21,395 | |
47/48 |
0 | 18,597 | 98,007 | 102,110 | 13,709 | 296,671 | 307,910 | 40,631 | 58,160 | - | 68,377 | 10,248 | 118,430 | 19,729 | 88,359 | 5,223 | 12,285 | 6,651 | 558 | |
492/3 |
15,955 | 49,240 | 54,626 | 63,100 | 61,351 | 69,741 | 159,702 | 59,904 | 32,369 | 16,241 | 34,479 | 28,560 | 89,382 | 13,300 | 19,147 | - | - | - | - | |
| Income statement | ||||||||||||||||||||
70 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.5m | 1.6m | 1.2m | 637,475 | |
76A |
1.7m | - | - | - | - | - | - | 2,019 | 537 | - | 1,980 | - | 334,858 | - | 496 | - | - | 1,578 | - | |
9900 |
3.4m | 1.9m | 1.7m | 1.6m | 1.5m | 1.5m | 1.5m | 1.5m | 1.3m | 1.2m | 1.1m | 1.0m | 748,897 | 867,699 | 788,051 | 697,765 | 790,682 | 633,924 | 319,390 | |
60/61 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 796,953 | 761,853 | 527,029 | 318,085 | |
62 |
961,665 | 1.1m | 950,645 | 871,340 | 902,216 | 830,170 | 844,441 | 744,895 | 611,457 | 595,441 | 599,885 | 615,873 | 613,871 | 515,396 | 458,430 | 382,240 | 450,204 | 325,724 | 196,738 | |
630 |
476,298 | 400,474 | 296,085 | 276,378 | 226,451 | 243,096 | 313,696 | 333,868 | 330,100 | 188,138 | 144,390 | 118,369 | 110,127 | 305,198 | 208,440 | 206,639 | 159,376 | 154,701 | 41,288 | |
631/4 |
69,547 | -5,836 | 82 | 18,082 | 0 | 12,414 | -6,573 | 850 | -43,603 | 10,377 | 32,709 | 17,328 | 11,972 | 5,442 | 2,583 | - | 263 | - | - | |
635/8 |
- | - | - | 0 | -80,000 | 0 | -2,339 | -3,946 | 9,466 | 25,716 | 31,575 | -4,804 | 26,460 | - | - | - | - | - | - | |
640/8 |
35,752 | 66,942 | 42,627 | 34,468 | 33,438 | 31,000 | 59,582 | 38,163 | 65,777 | 7,338 | 7,876 | 20,828 | 21,512 | 13,441 | 7,369 | 2,703 | 1,772 | 881 | 1,118 | |
66A |
- | - | - | - | - | - | - | 5,457 | - | - | - | - | - | 1,145 | 44,238 | - | - | - | - | |
9901 |
1.9m | 404,534 | 442,839 | 374,259 | 447,835 | 390,167 | 337,151 | 343,912 | 334,856 | 327,160 | 274,842 | 250,932 | -35,045 | 28,223 | 111,229 | 106,184 | 179,067 | 152,618 | 80,245 | |
75/76B |
35,590 | 8,711 | 5,706 | 6,575 | 2,587 | 7,419 | 5,370 | 6,608 | 3,049 | 6,096 | 7,627 | 4,856 | 1,810 | 50,867 | 3,950 | 439 | 690 | 1,360 | 63 | |
75 |
35,590 | 8,711 | 5,706 | 6,575 | 2,587 | 7,419 | 5,370 | 6,608 | 3,049 | 6,096 | 7,627 | 4,856 | 1,810 | 50,867 | 3,950 | 439 | 690 | 1,360 | 63 | |
65/66B |
191,186 | 193,232 | 162,266 | 155,556 | 180,806 | 184,872 | 198,360 | 196,129 | 162,157 | 155,425 | 160,683 | 152,571 | 120,088 | 58,867 | 55,473 | 38,533 | 44,422 | 13,102 | 6,533 | |
65 |
191,186 | 193,232 | 162,266 | 155,556 | 180,806 | 184,872 | 198,360 | 196,129 | 162,157 | 155,425 | 160,683 | 152,571 | 120,088 | 58,867 | 55,473 | 38,533 | 44,422 | 13,102 | 6,533 | |
9903 |
1.7m | 220,012 | 286,279 | 225,278 | 269,615 | 212,714 | 144,161 | 154,391 | 175,748 | 177,831 | 123,766 | 103,217 | 181,534 | 19,078 | 15,964 | 68,090 | 135,335 | 142,455 | 73,775 | |
67/77 |
457,088 | 72,295 | 88,785 | 50,532 | 96,221 | 58,451 | 47,232 | 69,155 | 49,372 | 71,344 | 49,400 | 37,216 | 38,472 | 12,639 | 14,397 | 15,576 | 60,575 | 31,707 | 16,652 | |
9904 |
1.3m | 147,717 | 197,493 | 174,746 | 173,395 | 154,263 | 96,928 | 85,235 | 126,375 | 106,487 | 74,366 | 66,001 | 143,062 | 6,439 | 1,567 | 52,514 | 74,761 | 110,747 | 57,123 | |
789 |
- | - | 0 | 12,020 | 83,000 | - | - | 75,000 | - | - | - | - | - | - | - | - | - | - | - | |
689 |
631,500 | - | - | - | - | - | - | - | 62,000 | - | - | - | 75,000 | - | - | 18,750 | 18,750 | 18,750 | 18,750 | |
9905 |
624,862 | 147,717 | 197,493 | 186,766 | 256,395 | 154,263 | 96,928 | 160,235 | 64,375 | 106,487 | 74,366 | 66,001 | 68,062 | 6,439 | 1,567 | 33,764 | 56,011 | 91,997 | 38,373 | |
| Appropriation of the result | ||||||||||||||||||||
9906 |
1.4m | 756,731 | 706,918 | 619,350 | 432,584 | 330,452 | 185,202 | 163,274 | 68,038 | 108,663 | 80,176 | 70,810 | 69,809 | 16,748 | 40,309 | 63,742 | 79,978 | 118,967 | 56,970 | |
14P |
756,731 | 609,013 | 509,425 | 432,584 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
791/2 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 90,000 | - | - | - | - | |
691/2 |
630,000 | - | 0 | 12,020 | 0 | 149,614 | - | 75,000 | 5,000 | 105,000 | 30,000 | 65,000 | 65,000 | 15,000 | - | 25,000 | 50,000 | 95,000 | 30,000 | |
6921 |
630,000 | - | 0 | 12,020 | 0 | 149,614 | - | 75,000 | 5,000 | 105,000 | 30,000 | 65,000 | 65,000 | 15,000 | - | 25,000 | 50,000 | 95,000 | 30,000 | |
694/7 |
- | 0 | 97,905 | 97,905 | 0 | 4,649 | 9,013 | - | 60,000 | - | 48,000 | - | - | - | 120,000 | - | - | - | - | |
694 |
- | 0 | 97,905 | 97,905 | - | - | - | - | 60,000 | - | 48,000 | - | - | - | 120,000 | - | - | - | - | |
696 |
- | - | - | - | 0 | 4,649 | 9,013 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Social balance sheet | ||||||||||||||||||||
9087 |
15 | 17.8 | 18.3 | 17.3 | 18.5 | 17.7 | 17.7 | 16 | 13 | 13 | 13.6 | 13.9 | 13.4 | 11.8 | 10.1 | 9 | 10.8 | 8.4 | 5.8 | |
Hours worked1013 |
23,804 | 27,331 | 27,239 | 27,177 | 29,782 | 28,583 | 29,919 | 26,220 | 21,379 | 21,324 | 22,512 | 23,464 | 22,774 | 19,809 | 17,082 | 15,924 | 18,628 | 14,622 | 10,103 | |
| Document | ||||||||||||||||||||
The accounts for 3 older financial years (2004-2006) were filed as documents without figures as data, scans for example.
The notes to these accounts have 23 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 29-01-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | abbreviated format | 29-01-2026 | 2026-00019218 | |
| 30-06-2024 | abbreviated format | 19-12-2024 | 2024-00621832 | |
| 30-06-2023 | abbreviated format | 15-12-2023 | 2023-00530091 | |
| 30-06-2022 | abbreviated format | 22-12-2022 | 2022-20543152 | |
| 30-06-2021 | abbreviated format | 21-01-2022 | 2022-01300246 | |
| 30-06-2020 | abbreviated format | 14-12-2020 | 2020-75300295 | |
| 30-06-2019 | abbreviated format | 19-12-2019 | 2019-76500227 | |
| 30-06-2018 | abbreviated format | 20-12-2018 | 2018-74800518 | |
| 30-06-2017 | abbreviated format | 23-01-2018 | 2018-01900203 | |
| 30-06-2016 | abbreviated format | 15-12-2016 | 2016-70000040 | |
| 30-06-2015 | abbreviated format | 05-01-2016 | 2016-00600197 | |
| 30-06-2014 | abbreviated format | 11-12-2014 | 2014-69300249 | |
| 30-06-2013 | abbreviated format | 31-01-2014 | 2014-02800123 | |
| 30-06-2012 | abbreviated format | 30-01-2013 | 2013-02500579 | |
| 30-06-2011 | abbreviated format | 10-01-2012 | 2012-00800143 | |
| 30-06-2010 | abbreviated format | 25-02-2011 | 2011-04100585 | |
| 30-06-2009 | abbreviated format | 17-02-2010 | 2010-04600048 | |
| 30-06-2008 | abbreviated format | 31-01-2009 | 2009-03300039 | |
| 30-06-2007 | abbreviated format | 29-02-2008 | 2008-05600161 | |
| 30-06-2006 | abbreviated format | 31-01-2007 | 2007-03400589 | |
| 30-06-2005 | abbreviated format | 13-01-2006 | 2006-01203223 | |
| 30-06-2004 | abbreviated format | 26-01-2005 | 2005-03000954 |
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €813 | €734 |
| 2023 | 1 | €0 | €255 |
| 2022 | 1 | €394 | €394 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2.3m | 805,008 | 738,923 | 650,637 | 674,286 | 633,263 | 650,847 | 677,780 | 664,956 | 515,297 | 419,232 | 369,301 | 75,082 | 333,420 | 319,669 | 312,823 | 338,443 | 307,319 | 121,533 | ||
| 1.7m | 548,192 | 493,578 | 451,125 | 399,846 | 397,360 | 410,624 | 419,103 | 456,475 | 294,625 | 218,756 | 184,370 | 253,189 | 311,636 | 210,007 | 259,153 | 234,137 | 265,448 | 98,411 | ||
| 370,512 | 582,022 | 423,327 | 349,673 | 216,470 | 698,930 | 256,211 | 214,299 | 1.2m | 202,250 | 195,060 | 125,248 | 694,548 | 2.4m | 438,550 | 213,841 | 198,595 | 652,660 | 118,966 | ||
| -238,786 | 306,079 | -204,330 | 115,004 | -29,781 | 112,944 | 25,853 | -143,669 | 232,690 | -2,250 | 11,916 | 34,612 | -171,863 | 186,160 | 27,611 | 11,913 | 13,614 | 30,324 | - | ||
| 2.3m | 1.8m | 1.6m | 1.8m | 1.6m | 1.2m | 1.2m | 893,788 | 678,355 | 589,801 | 468,759 | 384,730 | 338,201 | -2.3m | 221,383 | -218,359 | -236,011 | -267,989 | 94,616 | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 7.1% | 11.5% | 13.1% | 12.6% | ||
| 63.1% | 39.4% | 39.6% | 38.7% | 38.8% | 35.5% | 30.6% | 30.7% | 28.6% | 43.6% | 40.2% | 40.6% | 19.1% | 17.6% | 33.3% | 48.1% | 23.0% | 19.6% | 23.2% | ||
| 2.72 | 2.57 | 2.41 | 2.99 | 2.70 | 1.85 | 1.77 | 1.61 | 1.44 | 1.69 | 1.49 | 1.40 | 1.33 | 0.31 | 1.29 | 0.75 | 0.72 | 0.65 | 1.39 | ||
| 1.93 | 1.66 | 1.59 | 1.95 | 1.71 | 1.18 | 1.14 | 0.96 | 0.85 | 1.02 | 0.94 | 0.96 | 0.95 | 0.23 | 0.99 | 0.53 | 0.53 | 0.45 | 1.16 | ||
| 0.58 | 1.54 | 1.52 | 1.58 | 1.57 | 1.77 | 2.20 | 2.19 | 2.42 | 1.22 | 1.44 | 1.44 | 4.16 | 4.67 | 2.00 | 1.08 | 3.35 | 4.09 | 3.30 | ||
| 38.0% | 7.2% | 10.4% | 9.7% | 10.1% | 10.0% | 6.9% | 6.5% | 10.3% | 9.2% | 7.1% | 6.4% | 38.3% | 0.8% | 0.2% | 5.8% | 25.8% | 51.5% | 54.8% | ||
| 24.0% | 2.8% | 4.1% | 3.8% | 3.9% | 3.5% | 2.1% | 2.0% | 3.0% | 4.0% | 2.8% | 2.6% | 7.3% | 0.1% | 0.1% | 2.8% | 5.9% | 10.1% | 12.7% | ||
| 12.27 | 4.17 | 4.55 | 4.18 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 77 days | 68 days | 76 days | 121 days | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 62 days | 55 days | 76 days | 132 days |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 30-06-2025 | 30-06-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 16 | 19 | 19 | 18 |
| full-time | 8 | 15 | 15 | 13 |
| part-time | 8 | 4 | 4 | 5 |
| in full-time equivalents | 14.1 | 18.4 | 18.4 | 16.8 |
| 15 | 17.8 | 18.3 | 17.3 | |
| On a permanent contract | 16 | 19 | 19 | 18 |
| Joined | 2 | 9 | 9 | 6 |
| Left | 4 | 8 | 8 | 7 |
Source: social balance sheet in the 2022 to 2025 annual accounts
| Item | 30-06-2025 | 30-06-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Mortgages, amount registered | €277,000 | €277,000 | €277,000 | €277,000 |
| Carrying value of the mortgaged assets | €159,916 | €173,793 | €182,519 | €193,264 |
| €75,000 | €75,000 | €75,000 | €75,000 |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 30-06-2025 | 30-06-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Tangible fixed assets | €370,512 | €582,022 | €423,327 | €349,673 |
| €476,298 | €400,474 | €296,085 | €276,378 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 4.6 times that of 2024 and the highest since 2007. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total falls from 60.6% to 36.9%. Equity is higher and debt is lower.
Source: lists of holdings in the owners' accounts
VS ELECTRONICS has no parent and no holdings in its annual accounts. Scheirs Jan is the only director.
| INNOMEDIQ
registered office since 02-10-2008 · founded in 2008 |
26 FTE (2025) 0806.491.751 |
| E.S.A.B.
establishment since 01-05-1932 · founded in 1932 |
11 FTE (2025) 0400.630.685 |
| Five Stars Invest
registered office since 16-07-2015 · founded in 2015 |
total assets €8.7m (2025) 0633.912.420 |
| SPORTKRING HEIST
registered office since 28-03-2013 · founded in 2013 |
total assets €1.6m (2025) 0525.768.110 |
| DINTOOLS
registered office since 06-12-2010 · founded in 2010 |
0.6 FTE (2025) 0829.336.538 |
| Koninklijke Sportkring Heist
registered office since 18-01-2003 · founded in 1957 · negative equity (2025) |
7.1 FTE (2025) 0407.214.215 |
| SCHEIRS REPAIR
registered office since 24-07-2001 · founded in 2001 |
total assets €850,903 (2026) 0475.139.058 |
| DIN CONSULTING
registered office since 16-08-1999 · founded in 1999 |
total assets €329,230 (2025) 0466.697.682 |
| VSE Rent
registered office since 25-04-2025 |
founded in 2025 1022.724.151 |
| STERA
registered office since 15-05-2020 |
founded in 2020 0747.696.586 |
The network starts from the directors of VS ELECTRONICS. Every other company they run is a node.
Deadline for the 2026 accounts: 31-01-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Liersesteenweg 173 registered office 2220 Heist-op-den-Berg | ||
| Liersesteenweg 173 K 2220 Heist-op-den-Berg 27110 Manufacture of electrical equipment | 13-11-2002 | 2.115.114.395 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 12014K0835/00R002 | 3,102 m² | 1 · 1,273 m² | 8.8 m · 1 |
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