VTSB
ActiveSummary
VTSB has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €915k and a net result of €137k. Equity is growing by ~18.1% per year across the filed fiscal years. Its solvency ranks better than 84% of 2095 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability83▲+8
Solvency99▲+2
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50k at 30 days only on tighter terms
Liquidity ample (current ratio 3.67 against 3.4 in 2023; short-term debt: 25.9% and cash: 6.8% of total assets), and 25.9% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← 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 2024Solvency, return and age of the figures
Solvency
74.1%
Return on assets
11.1%
Age of the figures
21 mo
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
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 05-12-2025, 127 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
127 d late
2023
118 d late
2022
155 d late
2021
88 d late
2020
51 d late
2019
115 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
History
Financials · fiscal year 2024, abbreviated schema
Equity
€915k▲ 17.5%
2023 · €778k
Total assets
€1.23M▲ 14.5%
2023 · €1.08M
Net result
€137k▲ 149%
2023 · €55k
Working capital
€852k▲ 21.6%
2023 · €701k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€206k▼ 1.9%€171k▼ 16.7%€185k▲ 7.9%€65k▼ 64.6%€201k▲ 208%
Net result€211k▲ 60.4%€110k▼ 48.0%€123k▲ 11.5%€55k▼ 55.2%€137k▲ 149%
Equity€534k▲ 55.8%€608k▲ 13.9%€730k▲ 20.2%€778k▲ 6.5%€915k▲ 17.5%
Total assets€1.11M▲ 0.5%€1.21M▲ 8.8%€1.28M▲ 5.8%€1.08M▼ 15.6%€1.23M▲ 14.5%
Debt€576k▼ 24.3%€599k▲ 4.0%€547k▼ 8.7%€300k▼ 45.2%€319k▲ 6.6%
Working capital€523k▲ 59.6%€560k▲ 7.0%€661k▲ 18.0%€701k▲ 6.1%€852k▲ 21.6%
Staff (FTE)1=1
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 208% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.23M
Fixed assets
€62k ▼ 26.8%
Current assets
€1.17M ▲ 18.0%
Equity and liabilities €1.23M
Equity
€915k ▲ 17.5%
Debt
€319k ▲ 6.6%
Debt's share of the balance-sheet total falls from 27.8% to 25.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€231k▲
2023 · €94k
Cash flow
€167k▲
2023 · €84k
Current ratio
3.67▲
2023 · 3.40
Debt to equity
0.35▼
2023 · 0.39
ROE
14.9%▲
2023 · 7.1%
ROA
11.1%▲
2023 · 5.1%
Interest coverage
26.59▲
2023 · 13.60
Debt ≤ 1 year
€319k▲
2023 · €292k
Debt > 1 year
€0▼
2023 · €8k
Income taxes
€74k▲
2023 · €30k
Staff costs
€38k▼
2023 · €52k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €3k | - | - | - | - |
| Remuneration, social security and pensions62 | - | €24k | €22k | €52k | €38k | ▼ 27.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7k | €23k | €30k | €29k | €30k | ▲ 4.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €31k | - | €25k | €0 | ▼ 100% |
| Other operating charges640/8 | - | €17k | €21k | €10k | €26k | ▲ 151% |
| Non-recurring operating charges66A | - | €4k | €7k | €5k | €0 | ▼ 100% |
| Gross operating margin9900 | €272k | €270k | €264k | €187k | €295k | ▲ 57.4% |
| Operating profit (loss)9901 | €206k | €171k | €185k | €65k | €201k | ▲ 208% |
| Financial income75/76B | - | €3k | €8k | €29k | €18k | ▼ 36.9% |
| Recurring financial income75 | €14k | €3k | €4k | €16k | €18k | ▲ 15.7% |
| Non-recurring financial income76B | - | - | €4k | €13k | €0 | ▼ 100% |
| Financial charges65/66B | - | €6k | €4k | €10k | €9k | ▼ 9.2% |
| Recurring financial charges65 | €1k | €6k | €4k | €7k | €9k | ▲ 25.6% |
| Non-recurring financial charges66B | - | - | - | €3k | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | €279k | €169k | €188k | €85k | €211k | ▲ 149% |
| Income taxes67/77 | €67k | €59k | €66k | €30k | €74k | ▲ 149% |
| Profit (loss) for the period9904 | €211k | €110k | €123k | €55k | €137k | ▲ 149% |
| Profit (loss) for the period to be appropriated9905 | €211k | €110k | €123k | €55k | €137k | ▲ 149% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.11M | €1.21M | €1.28M | €1.08M | €1.23M | ▲ 14.5% |
| Fixed assets21/28 | €10k | €121k | €110k | €85k | €62k | ▼ 26.8% |
| Tangible fixed assets22/27 | €5k | €116k | €90k | €67k | €45k | ▼ 33.7% |
| Land and buildings22 | - | - | - | €5k | €4k | ▼ 22.5% |
| Plant, machinery and equipment23 | - | €4k | €4k | €3k | €8k | ▲ 214% |
| Furniture and vehicles24 | - | €1k | €2k | €2k | €1k | ▼ 34.7% |
| Leasing and similar rights25 | - | €111k | €84k | €58k | €31k | ▼ 45.9% |
| Financial fixed assets28 | €5k | €5k | €20k | €17k | €17k | = |
| Current assets29/58 | €1.10M | €1.09M | €1.17M | €993k | €1.17M | ▲ 18.0% |
| Amounts receivable after more than one year29 | - | €145k | €230k | €34k | €0 | ▼ 100% |
| Trade receivables290 | - | - | €92k | €34k | €0 | ▼ 100% |
| Other amounts receivable291 | - | €145k | €138k | - | - | - |
| Amounts receivable within one year40/41 | €603k | €531k | €728k | €703k | €1.09M | ▲ 54.9% |
| Trade receivables40 | - | €494k | €582k | €426k | €662k | ▲ 55.5% |
| Other amounts receivable41 | - | €36k | €145k | €277k | €426k | ▲ 54.0% |
| Cash at bank and in hand54/58 | €304k | €409k | €196k | €250k | €83k | ▼ 66.6% |
| Deferred charges and accrued income490/1 | - | €659 | €13k | €6k | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.11M | €1.21M | €1.28M | €1.08M | €1.23M | ▲ 14.5% |
| Equity10/15 | €534k | €608k | €730k | €778k | €915k | ▲ 17.5% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Capital10 | - | €6k | €6k | - | - | - |
| Issued capital100 | - | €19k | €19k | - | - | - |
| Uncalled capital101 | - | €12k | €12k | - | - | - |
| Reserves13 | €202k | €276k | €399k | €446k | €583k | ▲ 30.6% |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €0 | ▼ 100% |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €0 | ▼ 100% |
| Distributable reserves133 | - | €274k | €397k | €444k | €583k | ▲ 31.1% |
| Profit (loss) carried forward14 | €326k | €326k | €326k | €326k | €326k | = |
| Amounts payable17/49 | €576k | €599k | €547k | €300k | €319k | ▲ 6.6% |
| Amounts payable after more than one year17 | - | €73k | €41k | €8k | €0 | ▼ 100% |
| Financial debts170/4 | - | €73k | €41k | €8k | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €576k | €526k | €506k | €292k | €319k | ▲ 9.5% |
| Current portion of amounts payable after more than one year42 | - | €32k | €32k | €33k | €9k | ▼ 74.1% |
| Trade debts44 | €429k | €397k | €386k | €208k | €241k | ▲ 16.1% |
| Suppliers440/4 | - | €397k | €386k | €208k | €241k | ▲ 16.1% |
| Taxes, remuneration and social security45 | - | €84k | €87k | €51k | €70k | ▲ 36.3% |
| Taxes450/3 | - | €84k | €82k | €47k | €68k | ▲ 44.9% |
| Remuneration and social security454/9 | - | €292 | €5k | €5k | €2k | ▼ 50.1% |
| Other amounts payable47/48 | - | €13k | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €211k | €110k | €123k | €55k | €137k | ▲ 149% |
| + Depreciation and write-downs630 | €7k | €23k | €30k | €29k | €30k | ▲ 4.3% |
| Operating cash flow (approximation) | €218k | €133k | €152k | €84k | €167k | ▲ 99.1% |
| Investment in fixed assets (approximation) | - | €-134k | €-19k | €-4k | €-7k | ▼ 108% |
| Change in cash | - | €106k | €-213k | €53k | €-166k | ▼ 412% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
2025
05-12
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 127 days late
2024
26-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 118 days late
02-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 155 days late
2023
31-12
Financial
Weakest financial yearnet €55k ▼55.2%
Net result drops to €55k, the lowest in the series; recovery starts the following year.
2022
27-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 88 days late
2021
20-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 51 days late
2020
31-12
Financial
Highest result since 2018net €211k ▲60.4%
Net result €211k, the highest in the series.
31-12
Financial
Equity above €500kEq €534k ▲55.8%
3 profitable years in a row build equity to €534k.
23-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 115 days late
2019
04-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 96 days late
2018
31-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 92 days late
2017
26-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 26 days late
2016
21-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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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, Ieper · 1 establishment unit since 2014
Ground area
902 m²
Building footprint
190 m²
Volume, LiDAR
1,571 m³
2 parcels, Flanders · tallest building 12.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
VTSB
since 20142.235.473.678
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 33302A0217/05N005 | Flanders | 619 m² | 1 · 84 m² | 11.1 m · 2 fl. |
| 33011F0179/02H000 | Flanders | 283 m² | 1 · 106 m² | 12.9 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,036. 6,783 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded25-09-2014
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
43990Other specialised construction activities
41002Construction of residential and non-residential buildings
41003General construction of other non-residential buildings
43230Insulation installation
43240Other construction installation
Scores and ratios are computed by Checked and are not a credit decision.