VSD & Co Management
ActiveSummary
VSD & Co Management is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €10k and a net result of €151k. Equity is shrinking by ~46% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 10% of 2435 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit check for your own amount and term
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 2435 sector peers (2025).
NBB · sector comparisonPosition among 2435 sector peers
Solvency
better than 10%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 3 filingsDeviation from the deadline
2025
31 d late
2024
28 d late
2023
43 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€10k▼ 95.6%
2024 · €229k
2023: €126k
2024: €229k
2023 → 2025
Net result
€151k▲ 45.5%
2024 · €104k
2023: €116k
2024: €104k
2023 → 2025
Total assets
€504k▲ 41.9%
2024 · €355k
2023: €163k
2024: €355k
2023 → 2025
Solvency
2.0%▼ 62.5pp
2024 · 64.5%
2023: 76.9%
2024: 64.5%
2023 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€126k-€229k▲ 82.4%€10k▼ 95.6%
Operating result€153k-€138k▼ 10.2%€199k▲ 45.0%
Net result€116k-€104k▼ 10.4%€151k▲ 45.5%
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 45% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €504k
Fixed assets
€45k ▼ 58.0%
Current assets
€459k ▲ 85.6%
Equity and liabilities €504k
Equity
€10k ▼ 95.6%
Debt
€494k ▲ 292%
Debt's share of the balance-sheet total rises from 35.5% to 98.0%. Equity is lower and debt is higher.
Key figures and ratios
ROA
29.9%▲
2024 · 29.1%
Debt ≤ 1 year
€464k▲
2024 · €83k
Debt > 1 year
€30k▼
2024 · €43k
Income taxes
€47k▲
2024 · €31k
A ratio outside any meaningful range has been withheld (balance sheet total €504k, equity €10k).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 40 lines
Balance sheet
Code20242025
Assets
Total assets20/58€355k€504k▲
Fixed assets21/28€108k€45k▼
Tangible fixed assets22/27€108k€45k▼
Furniture and vehicles24€108k€45k▼
Current assets29/58€247k€459k▲
Amounts receivable within one year40/41€47k€84k▲
Trade receivables40€9k-
Other amounts receivable41€38k€84k▲
Current investments50/53€131k€16k▼
Cash at bank and in hand54/58€70k€359k▲
Equity and liabilities
Total equity and liabilities10/49€355k€504k▲
Equity10/15€229k€10k▼
Contributions10/11€10k€10k=
Profit (loss) carried forward14€219k-
Amounts payable17/49€126k€494k▲
Amounts payable after more than one year17€43k€30k▼
Financial debts170/4€43k€30k▼
Amounts payable within one year42/48€83k€464k▲
Current portion of amounts payable after more than one year42€12k€13k▲
Trade debts44€230€714▲
Suppliers440/4€230€714▲
Taxes, remuneration and social security45€71k€81k▲
Taxes450/3€71k€81k▲
Other amounts payable47/48-€370k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€23k€10k▼
Other operating charges640/8€2k€3k▲
Gross operating margin9900€163k€212k▲
Operating profit (loss)9901€138k€199k▲
Financial income75/76B-€785
Recurring financial income75-€785
Financial charges65/66B€3k€3k▼
Recurring financial charges65€3k€3k▼
Profit (loss) for the period before taxes9903€135k€198k▲
Income taxes67/77€31k€47k▲
Profit (loss) for the period9904€104k€151k▲
Profit (loss) for the period to be appropriated9905€104k€151k▲
Appropriation of the result
Profit (loss) to be appropriated9906€219k€370k▲
Profit (loss) brought forward from the previous period14P€116k€219k▲
Profit to be distributed694/7-€370k
Return on contributions (dividend)694-€370k
The notes to these accounts (8 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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Highest result since 2023net €151k ▲45.5%
Operating result €199k, net result €151k, both a record.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
31-12
Financial
Weakest financial yearnet €104k ▼10.4%
Net result drops to €104k, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €200kEq €229k ▲82.4%
2 profitable years in a row build equity to €229k.
12-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 43 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Brasschaat · 1 establishment unit since 2022
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.
Dennenlei 92930 BrasschaatGround area
1,561 m²
Building footprint
195 m²
Volume, LiDAR
1,209 m³
Parcel 11322E0044/00E000, Flanders · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
VSD & Co Management
since 20222.330.777.069
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11322E0044/00E000 | Flanders | 1,560 m² | 1 · 195 m² | 9.0 m · 2 fl. |
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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Of 4,683 companies in sector 66220 we hold annual accounts for 3,228. 1,017 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded27-04-2022
Fiscal year end31-12
Activities, NACEBEL 2025
66220Insurance agents and brokers
Sources
Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.