Equity
€42,512 ▲ 18.9%
VSR paid out €10,000 in dividends. That is 60% of the 2025 profit.
VSR
Lifetime
15 annual accounts with figures on one time axispeak €44,572 (2024)
€41,541▼ 6.8%
lowest -€10,396 (2023)
€16,747▲ 84.6%
peak €42,512 (2025)
€42,512▲ 18.9%
€20,769▼ 4.3%
Board2 names since 2018
1 directorVAN STEENBERGEN Michel
Documentsfilings and deeds
17-08-202617 days late
2025micro format
Result from €9,071 to €16,747Dividend €10,000Equity from €35,765 to €42,512Cash from €11,721 to €36,307
Key points
from the 2025 annual accountsChecked score
97
Excellent
Financially stronger than 79% of micro companies in specialised construction (NACE 43)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.9%
01-2025: 0.9%● unchanged vs 12-2024
02-2025: 0.9%● unchanged vs 01-2025
03-2025: 0.9%● unchanged vs 02-2025
04-2025: 1.0%▲ +0.1 percentage points vs 03-2025
05-2025: 0.9%▼ -0.1 percentage points vs 04-2025
06-2025: 0.9%● unchanged vs 05-2025
07-2025: 1.1%▲ +0.2 percentage points vs 06-2025highest value
08-2025: 0.2%▼ -0.9 percentage points vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: 0.4%▲ +0.2 percentage points vs 07-2026
09-2026: 0.1%▼ -0.3 percentage points vs 08-2026lowest value
10-2026: 0.1%● unchanged vs 09-2026lowest value
11-2026: 0.1%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Sector: Specialised construction activities (NACE 43)
lowers risk
Liquidity: current ratio 2.53, cash €36,307
Equity €42,512 (67.2% of total assets)
Founded in 2010
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 (NACE 43, micro). It does better than 73% of them on solvency, 85% on liquidity, 92% on profitability and 66% 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 31-12-2025.
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).
Comparable companies, two years later
In July 2024, 34,693 companies had the same profile as VSR has now. Each dot stands for 87 companies, two years later.
95.3%
were still trading
3.9%
stopped another way
0.7%
went bankrupt
That fits the bankruptcy probability of VSR itself: 0.1% within 12 months.
Test of the method
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 34,693 companies, not a prediction for VSR. 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.
Credit verdict
Credit of up to €4,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.53 (1.36 in 2024), above the usual 1.5. Short-term debt is 29.2% and cash 57.4% of total assets. 32.8% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 17 days late
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. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
17 days late
2024
3 days early
2023
8 days late
2022
10 days late
2021
25 days late
2020
31 days early
2019
21 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 7 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 10 August (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0826743371
Resignation: VAN STEENBERGEN Michel (director)
Reappointment: VAN STEENBERGEN Michel (director) · Director discharge: VAN STEENBERGEN Michel · Gazette deed
Resignation: Raeymakers Conny (manager)
Director discharge: Raeymakers Conny · General meeting of 19-04-2018 · Gazette deed
First establishment
De Busseltjes 10, Lille
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| VSR Lille | €63,281 | €41,541 | 67.2% | - |
| BERKVENS Zemst | €69,144 | €46,327 | 50.6% | - |
| Entreprise Patrick CORBISIER Namur | €63,986 | €52,554 | 49.3% | - |
| Vloer- en Tegelwerken F & D Mortsel | €83,918 | €39,778 | 7.4% | - |
| KUJA Hulshout | €65,168 | €27,441 | 55.7% | - |
| VLOER-, TEGEL- EN KLINKERWERKEN HOES WIM Geel | €73,607 | €28,715 | 79.1% | - |
| VANNEUVILLE CHRISTIAN Koksijde | €61,895 | €31,683 | 56.5% | - |
These companies have the same main activity as VSR: floor and wall tiling (NACE 43331). They are comparable in size and age: total assets between €61,900 and €83,900, founded between 2008 and 2012.
Official details
Source: KBO- Status
- Active since 31-05-2010Normal situation
- Activity
- Floor and wall tilingNACE 43331and 1 other
- Establishment unit
- 2.190.951.2722275 Lille, since 18-06-2010
- Financial year end
- 31 December
- Peppol
- Reachable since 23-11-2025
Insights on VSR
VSR files the micro format. That format states no turnover. The gross margin rose from €28,337 in 2011 to €41,541 in 2025.
The balance sheet grew most from 2020 to 2021 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about VSR
- What is the company number of VSR?
- The company number of VSR is 0826.743.371. The VAT number is the same number with BE in front: BE 0826.743.371.
- Where is VSR based?
- The registered office is at De Busseltjes 10, 2275 Lille.Company details
- What does VSR do?
- According to the KBO register, the main activity is floor and wall tiling (NACE 43331).
- What is the legal form of VSR?
- VSR is a private limited company (BV).
- When was VSR founded?
- VSR was founded on 31-05-2010.
- Is VSR still active?
- Yes, VSR is an active enterprise in the KBO register.
- What is the turnover of VSR?
- The turnover in financial year 2025 is ≈ €250,000. This figure is estimated from the gross margin of €41,541 and 88 comparable companies (NACE 433). It probably lies between €170,000 and €420,000.Financials
- Is VSR profitable?
- In financial year 2025, VSR made a profit of €16,747.
- Where can I find the annual accounts of VSR?
- VSR filed 15 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of VSR due?
- VSR must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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