VSR
ActiveVSR has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €43k and a net result of €17k. Equity is growing by ~7% per year across the filed fiscal years. Its solvency ranks better than 72% of 27711 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
90
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+12
Solvency92▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3.5k at 30 days acceptable
Liquidity ample (current ratio 2.53 against 1.36 in 2024; short-term debt: 29.2% and cash: 57.4% of total assets), and 32.8% 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 · 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 · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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
67.2%
Return on assets
26.5%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-08-2026, 17 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 · 10 filingsDeviation from the deadline
2025
17 d late
2024
3 d early
2023
8 d late
2022
10 d late
2021
25 d late
2020
31 d early
2019
21 d late
← before the deadline
after the deadline →
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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€43k▲ 18.9%
2024 · €36k
2018: €29k
2019: €23k
2020: €21k
2021: €20k
2022: €37k
2023: €27k
2024: €36k
2018 → 2025
Total assets
€63k▲ 10.1%
2024 · €57k
2018: €57k
2019: €45k
2020: €84k
2021: €124k
2022: €113k
2023: €71k
2024: €57k
2018 → 2025
Net result
€17k▲ 84.6%
2024 · €9k
2018: €-224
2019: €-6k
2020: €-1k
2021: €-1k
2022: €17k
2023: €-10k
2024: €9k
2018 → 2025
Working capital
€28k▲ 301%
2024 · €7k
2018: €19k
2019: €18k
2020: €9k
2021: €-13k
2022: €-11k
2023: €-11k
2024: €7k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€20k-€37k▲ 85.5%€27k▼ 28.0%€36k▲ 34.0%€43k▲ 18.9%
Operating result€-771-€18k€-8k€17k€22k▲ 27.2%
Net result€-1k-€17k€-10k€9k€17k▲ 84.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 27% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €63k
Fixed assets
€17k▼ 46.5%
Current assets
€47k▲ 76.4%
Equity and liabilities €63k
Equity
€43k▲ 18.9%
Debt
€21k▼ 4.3%
The debt ratio falls from 37.8% to 32.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€42k▼
2024 · €45k
Cash flow
€36k▼
2024 · €36k
Solvency
67.2%▲
2024 · 62.2%
Current ratio
2.53▲
2024 · 1.36
Quick ratio
2.37▲
2024 · 1.21
Debt / equity
0.49▼
2024 · 0.61
ROE
39.4%▲
2024 · 25.4%
ROA
26.5%▲
2024 · 15.8%
Interest coverage
301.02▲
2024 · 92.86
Debt
€21k▼
2024 · €22k
Debt ≤ 1 year
€18k▼
2024 · €19k
Debt > 1 year
€2k=
2024 · €2k
Income taxes
€6k▼
2024 · €8k
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€57k€63k▲
Fixed assets21/28€31k€17k▼
Tangible fixed assets22/27€31k€17k▼
Land and buildings22€2k€4k▲
Plant, machinery and equipment23€826€1k▲
Furniture and vehicles24€28k€12k▼
Current assets29/58€26k€47k▲
Stocks and contracts in progress3€3k€3k=
Stocks30/36€3k€3k=
Amounts receivable within one year40/41€6k€268▼
Trade receivables40€6k€268▼
Cash at bank and in hand54/58€12k€36k▲
Deferred charges and accrued income490/1€6k€7k▲
Equity and liabilities
Total equity and liabilities10/49€57k€63k▲
Equity10/15€36k€43k▲
Contributions10/11€19k€19k=
Reserves13€982€982=
Non-distributable reserves130/1€982€982=
Reserves not available under the articles1311€982€982=
Profit (loss) carried forward14€16k€23k▲
Amounts payable17/49€22k€21k▼
Amounts payable after more than one year17€2k€2k=
Financial debts170/4€2k€2k=
Amounts payable within one year42/48€19k€18k▼
Current portion of amounts payable after more than one year42€14k€1k▼
Trade debts44€3k€5k▲
Suppliers440/4€3k€5k▲
Other amounts payable47/48€3k€12k▲
Accrued charges and deferred income492/3-€22
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€27k€19k▼
Gross operating margin9900€45k€42k▼
Operating profit (loss)9901€17k€22k▲
Financial income75/76B€147€663▲
Recurring financial income75€147€663▲
Financial charges65/66B€480€138▼
Recurring financial charges65€480€138▼
Profit (loss) for the period before taxes9903€17k€23k▲
Income taxes67/77€8k€6k▼
Profit (loss) for the period9904€9k€17k▲
Profit (loss) for the period to be appropriated9905€9k€17k▲
Appropriation of the result
Profit (loss) to be appropriated9906€16k€33k▲
Profit (loss) brought forward from the previous period14P€7k€16k▲
Profit to be distributed694/7-€10k
Return on contributions (dividend)694-€10k
The notes to these accounts (5 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
17-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 17 days late
2025
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €9k
Net result €9k after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 1.36
Current ratio from 0.62 to 1.36; short-term debt falls from €30k to €19k.
08-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 8 days late
2023
31-12
Financial
Weakest financial yearnet €-10k ▼161%
Net result drops to €-10k, the lowest in the series; recovery starts the following year.
10-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 10 days late
2022
31-12
Financial
Back to profitnet €17k
Net result €17k after 4 loss-making years.
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 25 days late
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
21-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 21 days late
2019
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
03-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
18-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Lille · 1 establishment unit since 2010
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.
De Busseltjes 102275 LilleGround area
983 m²
Building footprint
163 m²
Volume, LiDAR
795 m³
Parcel 13032B0244/00A000, Flanders · tallest building 8.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
VSR
since 20102.190.951.272
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13032B0244/00A000 | Flanders | 983 m² | 1 · 163 m² | 8.4 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 3,963 companies in sector 43331 we hold annual accounts for 1,791. 1,536 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded31-05-2010
Fiscal year end31-12
Activities, NACEBEL
43331Floor and wall tiling
43910Bricklaying and masonry work
43994Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.