VSN PROJECTS
ActiveSummary
VSN PROJECTS has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€18,378) and a net result of -€23,378. The computed 12-month bankruptcy probability is 0.9% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 01-07-2024 Normal situation
- Activity
- No activity registered in the KBO
- Establishment unit
- 2.361.973.556 2800 Mechelen, since 01-07-2024
- Financial year end
- 30 June
- Peppol
- Reachable since 02-08-2024
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.9%
- Gross margin
- -€19,570
- Loss
- €23,378
- Equity
- -€18,378
- Total assets
- €454,215
- Negative equity on 30-06-2025
Score breakdownraises riskCapped at 59: negative equityLiquidity: current ratio 1.54, cash €806Founded in 2024lowers riskSize: total assets €454,215No main activity registeredShow the evidence
Checked score
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
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 (no NACE code, micro). It does better than 14% of them on solvency, 11% on liquidity and 19% on profitability.
The bankruptcy probability was computed on 03-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Searched, nothing found (1)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 22-01-2026 at the NBB
Turnover and EBIT margin are not published. The micro format does not require them.
| Line | 2025 |
|---|---|
| Other operating charges640/8 | €554 |
| Gross operating margin9900 | -€19,570 |
| Operating profit (loss)9901 | -€20,124 |
| Financial income75/76B | €120 |
| Recurring financial income75 | €120 |
| Financial charges65/66B | €3,284 |
| Recurring financial charges65 | €3,284 |
| Profit (loss) for the period before taxes9903 | -€23,288 |
| Income taxes67/77 | €90 |
| Profit (loss) for the period9904 | -€23,378 |
| Profit (loss) for the period to be appropriated9905 | -€23,378 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €454,215 | |
| Current assets29/58 | €454,215 | |
| Stocks and contracts in progress3 | €428,513 | |
| Stocks30/36 | €428,513 | |
| Amounts receivable within one year40/41 | €23,000 | |
| Trade receivables40 | €23,000 | |
| Cash at bank and in hand54/58 | €806 | |
| Deferred charges and accrued income490/1 | €1,897 | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €454,215 | |
| Equity10/15 | -€18,378 | |
| Contributions10/11 | €5,000 | |
| Profit (loss) carried forward14 | -€23,378 | |
| Amounts payable17/49 | €472,593 | |
| Amounts payable after more than one year17 | €175,638 | |
| Financial debts170/4 | €175,638 | |
| Amounts payable within one year42/48 | €295,580 | |
| Current portion of amounts payable after more than one year42 | €4,362 | |
| Trade debts44 | €29,672 | |
| Suppliers440/4 | €29,672 | |
| Taxes, remuneration and social security45 | €90 | |
| Taxes450/3 | €90 | |
| Other amounts payable47/48 | €261,456 | |
| Accrued charges and deferred income492/3 | €1,375 | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | -€23,378 |
| Operating cash flow (approximation) | -€23,378 |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,251 companies had the same profile as VSN PROJECTS has now. Two years later, 96.6% were still going and 1.0% had gone bankrupt.
- Small
- 2 to 5 years old
- negative equity
- a small loss
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of VSN PROJECTS itself: 0.9% within 12 months.
Test of the method
The method was tested on the 497,446 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 1,251 companies, not a prediction for VSN PROJECTS. 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.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 22-01-2026 | 2026-00011467 |
Board & ownership
Directors
Owners and capital
Shareholders
- VAN SANDE Jan Martine Marc 100 shares (100%) · €3,000
Capital transactions
- 03-07-2024 Incorporation · €5,000 · 100 shares
Network & group
VSN PROJECTS shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of VSN PROJECTS. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
03-07
Gazette deed
IncorporationStarting capital €5,000 · Appointment: VAN SANDE Jan Martine Marc (director) · Registered office clause · Board rule11 points ▸
- Registered office clause, “2800 Mechelen,Arme-Clarenstraat 6” (deed in Dutch)
- Board rule, 1, “vergadering” (deed in Dutch)
- Director appointment, VAN SANDE Jan Martine Marc (director (not named in the articles))
- Other provision, “controle bestuursverbod, zonder resultaat” (deed in Dutch)
- Other provision, “verklaring afwezigheid bestuursverbod” (deed in Dutch)
- Incorporation, “VSN PROJECTS” (deed in Dutch)
- Founder, VAN SANDE Jan Martine Marc
- Founding capital, €5,000
- Bank account, “BE88 0019 8312 6041”, 25-06-2024 (deed in Dutch)
- VAN SANDE Jan Martine Marc holds all the shares
- Share issue, 100, “inbrengen” (deed in Dutch)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Company details
Register details
Identity
KBO recordRegistered office and establishments
Invoicing and payment
Financial year and general meeting
Accounts at the NBBEnvironmental permits
Source: Omgevingsloket Vlaanderen.
Sites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 12025A0784/00A002 | Flanders | 297 m² | 1 · 96 m² | 10.7 m · 3 |