VS MANAGEMENT
ActiveThe computed 12-month bankruptcy probability of VS MANAGEMENT is 1.8% (moderate). The 2025 annual accounts show equity of €312k and a net result of €27k. Equity is growing by ~12.5% per year across the filed fiscal years. Its solvency ranks better than 37% of 27268 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
82
/ 100
Excellent▲ +11 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability43▲+2
Solvency65▲+10
Growth52=
Stability100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity tight (current ratio 1.41 against 1.17 in 2024), and 64.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← 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
35.4%
Return on assets
3%
Age of the figures
11 mo
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 30-04-2026, 0 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
on the day
2024
1 d early
2023
on the day
2022
8 d late
2021
31 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
11-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€312k▲ 9.4%
2024 · €285k
2021: €179k
2022: €221k
2023: €262k
2024: €285k
2021 → 2025
Total assets
€882k▲ 0.7%
2024 · €877k
2021: €282k
2022: €512k
2023: €748k
2024: €877k
2021 → 2025
Net result
€27k▲ 13.6%
2024 · €24k
2021: €174k
2022: €42k
2023: €41k
2024: €24k
2021 → 2025
Working capital
€24k▲ 78.9%
2024 · €14k
2021: €170k
2022: €188k
2023: €103k
2024: €14k
2021 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€179k-€221k▲ 23.2%€262k▲ 18.5%€285k▲ 9.0%€312k▲ 9.4%
Operating result€223k-€61k▼ 72.7%€62k▲ 2.2%€48k▼ 22.7%€57k▲ 19.2%
Net result€174k-€42k▼ 76.2%€41k▼ 1.5%€24k▼ 42.2%€27k▲ 13.6%
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 19% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €882k
Fixed assets
€799k▲ 1.8%
Current assets
€84k▼ 9.1%
Equity and liabilities €882k
Equity
€312k▲ 9.4%
Debt
€570k▼ 3.6%
The debt ratio falls from 67.5% to 64.6%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€95k▲
2024 · €86k
Cash flow
€64k▲
2024 · €62k
Solvency
35.4%▲
2024 · 32.5%
Current ratio
1.41▲
2024 · 1.17
Quick ratio
1.41▲
2024 · 1.17
Debt / equity
1.83▼
2024 · 2.07
ROE
8.6%▲
2024 · 8.3%
ROA
3.0%▲
2024 · 2.7%
Interest coverage
4.07▼
2024 · 4.70
Debt
€570k▼
2024 · €591k
Debt ≤ 1 year
€59k▼
2024 · €78k
Debt > 1 year
€511k▼
2024 · €513k
Income taxes
€7k▲
2024 · €6k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€877k€882k▲
Fixed assets21/28€785k€799k▲
Tangible fixed assets22/27€785k€799k▲
Land and buildings22€783k€799k▲
Plant, machinery and equipment23€822€205▼
Furniture and vehicles24€159-
Other tangible fixed assets26€277€31▼
Financial fixed assets28€26€26=
Current assets29/58€92k€84k▼
Amounts receivable within one year40/41€18k€32k▲
Trade receivables40€14k€28k▲
Other amounts receivable41€5k€5k▼
Cash at bank and in hand54/58€73k€51k▼
Deferred charges and accrued income490/1€636€470▼
Equity and liabilities
Total equity and liabilities10/49€877k€882k▲
Equity10/15€285k€312k▲
Contributions10/11€5k€5k=
Reserves13€280k€307k▲
Distributable reserves133€280k€307k▲
Amounts payable17/49€591k€570k▼
Amounts payable after more than one year17€513k€511k▼
Financial debts170/4€513k€511k▼
Amounts payable within one year42/48€78k€59k▼
Current portion of amounts payable after more than one year42€29k€24k▼
Trade debts44€24k€10k▼
Suppliers440/4€24k€10k▼
Taxes, remuneration and social security45€24k€20k▼
Taxes450/3€22k€18k▼
Remuneration and social security454/9€2k€2k=
Other amounts payable47/48€1k€5k▲
Accrued charges and deferred income492/3€16-
Income statement
Code20242025
Remuneration, social security and pensions62€198-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€38k€37k▼
Other operating charges640/8€3k€3k▲
Gross operating margin9900€90k€98k▲
Operating profit (loss)9901€48k€57k▲
Financial income75/76B€246€164▼
Recurring financial income75€246€164▼
Financial charges65/66B€18k€23k▲
Recurring financial charges65€18k€23k▲
Profit (loss) for the period before taxes9903€30k€34k▲
Income taxes67/77€6k€7k▲
Profit (loss) for the period9904€24k€27k▲
Profit (loss) for the period to be appropriated9905€24k€27k▲
Appropriation of the result
Profit (loss) to be appropriated9906€65k€27k▼
Profit (loss) brought forward from the previous period14P€41k-
Transfer to equity691/2€65k€27k▼
To other reserves6921€65k€27k▼
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
29-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Weakest financial yearnet €24k ▼42.2%
Net result drops to €24k, the lowest in the series; recovery starts the following year.
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
08-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 8 days late
2022
30-09
Financial
Equity above €200kEq €221k ▲23.2%
2 profitable years in a row build equity to €221k.
30-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Geraardsbergen · 1 establishment unit since 2020
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Groteweg(Ove) 2869500 GeraardsbergenGround area
762 m²
Building footprint
154 m²
Parcel 41056A0938/00E002, Flanders. Linked by address, not a title deed.
1 establishment unit
vs management
since 20202.302.403.876
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41056A0938/00E002 | Flanders | 762 m² | 1 · 154 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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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BE 0840.764.524
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BE 0645.827.681
Hamont-Achel · Eq €312k
Chauffage Nizet
BE 0401.606.130
Châtelet · Eq €312k
DELPA
BE 0811.780.924
Machelen (Brab.) · Eq €312k
JMV
BE 0882.601.317
Harelbeke · Eq €312k
Of 9,478 companies in sector 43222 we hold annual accounts for 5,626. 4,492 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded19-05-2020
Fiscal year end30-09
Activities, NACEBEL
43222Installation of electric heating, air conditioning, cooling and ventilation
43221Plumbing work
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Data from official sources, last processed on 11-09-2026. Scores and ratios are computed by Checked and are not a credit decision.