VV Technologies
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 27-04-2026 PDF all 5 filings
Turnover
≈ €680,000
Estimated: probably between €470,000 and €1.1m
Total assets
€213,287▼ 14.9%
2024 · €250,579
Net result
-€138,519
2024 · €92,970
Working capital
-€7,447
2024 · €131,098
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
-€140,432
2025
20212025
Net result
-€138,519
2025
lowest quarter of the sector
20212025
Equity
-€5,535
2025
lowest quarter of the sector
20212025
Total assets
€213,287
▼ 14.9%
2025
middle half of the sector
20212025
Debt
€218,822
▲ 86.1%
2025
20212025
Working capital
-€7,447
2025
lowest quarter of the sector
20212025
Solvency
-2.6%
▼ 55.7pp
2025
lowest quarter of the sector
20212025
Current ratio
0.97
▼ 1.15
2025
lowest quarter of the sector
20212025
Return on assets (ROA)
-64.9%
▼ 102.0pp
2025
lowest quarter of the sector
20212025
Staff (FTE)
4.8
▲ 17.1%
2025
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result-€5,094-€22,577€34,387▲ 52.3%€124,254▲ 261%-€140,432
Net result-€5,136below the sector's middle half-€17,930within the sector's middle half€26,219within the sector's middle half▲ 46.2%€92,970above the sector's middle half▲ 255%-€138,519below the sector's middle half
Equity-€4,135below the sector's middle half-€13,795below the sector's middle half€40,014within the sector's middle half▲ 190%€132,984within the sector's middle half▲ 232%-€5,535below the sector's middle half
Total assets€3,155below the sector's middle half-€42,916below the sector's middle half▲ 14×€104,723within the sector's middle half▲ 144%€250,579within the sector's middle half▲ 139%€213,287within the sector's middle half▼ 14.9%
Debt€7,290-€29,120▲ 299%€64,709▲ 122%€117,595▲ 81.7%€218,822▲ 86.1%
Working capital-€4,125below the sector's middle half-€11,890below the sector's middle half€40,014within the sector's middle half▲ 237%€131,098above the sector's middle half▲ 228%-€7,447below the sector's middle half
Solvency32.1%below the sector's middle half38.2%within the sector's middle half▲ 6.1pp53.1%within the sector's middle half▲ 14.9pp-2.6%below the sector's middle half▼ 55.7pp
Current ratio1.41within the sector's middle half1.62within the sector's middle half▲ 0.212.12within the sector's middle half▲ 0.500.97below the sector's middle half▼ 1.15
Return on assets (ROA)41.8%above the sector's middle half25.0%within the sector's middle half▼ 16.7pp37.1%above the sector's middle half▲ 12.1pp-64.9%below the sector's middle half▼ 102.0pp
Staff (FTE)2.54.1▲ 64.0%4.8▲ 17.1%
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €140,432, after a profit of €124,254 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €213,287
Fixed assets
€2,775 ▲ 24.7%
Current assets
€210,512 ▼ 15.2%
Equity and liabilities
Equity-€5,535
Debt€218,822
Equity is negative. Debt (€218,822) exceeds the balance-sheet total (€213,287).
Key figures and ratios
EBITDA
-€139,174▼
2024 · €124,762
Cash flow
-€137,261▼
2024 · €93,478
Interest coverage
-31.36▼
2024 · 34.95
Debt ≤ 1 year
€217,958▲
2024 · €117,256
Income taxes
€321▼
2024 · €32,744
Staff costs
€396,415▲
2024 · €339,390
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|
| Employees at the balance-sheet date | 4 | 4 | 4 |
| full-time | 4 | 4 | 3 |
| part-time | 0 | 0 | 1 |
| in full-time equivalents | 4 | 4 | 3.5 |
| Average over the year, in full-time equivalents | 2.5 | 4.1 | 4.8 |
| On a permanent contract | 4 | 4 | 4 |
| Joined | 2 | 3 | 2 |
| Left | 0 | 1 | 2 |
Source: social balance sheet in the 2023 to 2025 annual accounts
Overdue debts
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Overdue tax debts | - | - | - | - | €71,121 |
| Overdue social security (RSZ) debts | - | - | - | - | €46,500 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €2,410 | €1,581 | €2,734 | €1,807 |
| Depreciation and write-downs of the year | - | €505 | €0 | €508 | €1,258 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €1,125 | €0 | €2,050 | - |
| Remuneration, social security and pensions62 | €765 | €58,988 | €153,017 | €339,390 | €396,415 | ▲ 16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €505 | €0 | €508 | €1,258 | ▲ 148% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €19,555 | €0 | ▼ 100% |
| Other operating charges640/8 | - | - | €3,487 | €5,681 | €1,088 | ▼ 80.9% |
| Gross operating margin9900 | -€4,329 | €82,069 | €190,891 | €489,388 | €258,328 | ▼ 47.2% |
| Operating profit (loss)9901 | -€5,094 | €22,577 | €34,387 | €124,254 | -€140,432 | - |
| Financial income75/76B | €1 | €0 | €1,006 | €5,029 | €6,672 | ▲ 32.7% |
| Recurring financial income75 | €1 | €0 | €1,006 | €5,029 | €6,672 | ▲ 32.7% |
| Financial charges65/66B | €43 | €230 | €254 | €3,569 | €4,438 | ▲ 24.3% |
| Recurring financial charges65 | €43 | €230 | €254 | €3,569 | €4,438 | ▲ 24.3% |
| Profit (loss) for the period before taxes9903 | -€5,136 | €22,347 | €35,140 | €125,714 | -€138,198 | - |
| Income taxes67/77 | - | €4,417 | €8,921 | €32,744 | €321 | ▼ 99.0% |
| Profit (loss) for the period9904 | -€5,136 | €17,930 | €26,219 | €92,970 | -€138,519 | - |
| Profit (loss) for the period to be appropriated9905 | -€5,136 | €17,930 | €26,219 | €92,970 | -€138,519 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3,155 | €42,916 | €104,723 | €250,579 | €213,287 | ▼ 14.9% |
| Fixed assets21/28 | - | €1,906 | €0 | €2,226 | €2,775 | ▲ 24.7% |
| Tangible fixed assets22/27 | - | €1,906 | €0 | €2,226 | €2,775 | ▲ 24.7% |
| Furniture and vehicles24 | - | €1,906 | €0 | €2,226 | €2,775 | ▲ 24.7% |
| Current assets29/58 | €3,155 | €41,010 | €104,723 | €248,353 | €210,512 | ▼ 15.2% |
| Amounts receivable within one year40/41 | €3,107 | €31,730 | €104,710 | €246,074 | €209,123 | ▼ 15.0% |
| Trade receivables40 | €1,560 | €31,730 | €71,151 | €126,637 | €82,675 | ▼ 34.7% |
| Other amounts receivable41 | €1,548 | €0 | €33,559 | €119,437 | €126,448 | ▲ 5.9% |
| Cash at bank and in hand54/58 | €47 | €9,280 | €13 | €366 | €0 | ▼ 99.9% |
| Deferred charges and accrued income490/1 | €0 | €0 | - | €1,913 | €1,388 | ▼ 27.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3,155 | €42,916 | €104,723 | €250,579 | €213,287 | ▼ 14.9% |
| Equity10/15 | -€4,135 | €13,795 | €40,014 | €132,984 | -€5,535 | - |
| Contributions10/11 | €1,001 | €1,001 | €1,001 | €1,001 | €1,001 | = |
| Reserves13 | - | €12,000 | €38,000 | €131,500 | €0 | ▼ 100% |
| Distributable reserves133 | - | €12,000 | €38,000 | €131,500 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | -€5,136 | €794 | €1,013 | €483 | -€6,536 | - |
| Amounts payable17/49 | €7,290 | €29,120 | €64,709 | €117,595 | €218,822 | ▲ 86.1% |
| Amounts payable within one year42/48 | €7,280 | €29,120 | €64,709 | €117,256 | €217,958 | ▲ 85.9% |
| Financial debts43 | - | - | €379 | €1,246 | €1,315 | ▲ 5.6% |
| Credit institutions430/8 | - | - | €379 | €1,246 | €1,315 | ▲ 5.6% |
| Trade debts44 | €4,116 | €6,925 | €21,641 | €15,035 | €31,931 | ▲ 112% |
| Suppliers440/4 | €4,116 | €6,925 | €21,641 | €15,035 | €31,931 | ▲ 112% |
| Taxes, remuneration and social security45 | - | €19,513 | €42,689 | €100,974 | €184,713 | ▲ 82.9% |
| Taxes450/3 | - | €11,440 | €15,346 | €43,481 | €75,231 | ▲ 73.0% |
| Remuneration and social security454/9 | - | €8,073 | €27,343 | €57,493 | €109,481 | ▲ 90.4% |
| Other amounts payable47/48 | €3,163 | €2,682 | €0 | - | - | - |
| Accrued charges and deferred income492/3 | €10 | €0 | - | €339 | €864 | ▲ 155% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,136 | €17,930 | €26,219 | €92,970 | -€138,519 | - |
| + Depreciation and write-downs630 | - | €505 | €0 | €508 | €1,258 | ▲ 148% |
| Operating cash flow (approximation) | -€5,136 | €18,435 | €26,219 | €93,478 | -€137,261 | - |
| Investment in fixed assets (approximation) | - | - | €1,906 | -€2,734 | -€1,807 | ▲ 33.9% |
| Change in cash | - | €9,233 | -€9,267 | €353 | -€366 | - |
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, 6,008 companies had the same profile as VV Technologies has now. Two years later, 83.0% were still going and 7.9% had gone bankrupt.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
83.0%
was still going
8.4%
stopped otherwise
7.9%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of VV Technologies itself is lower: 1.4% within 12 months. It rests on far more data about VV Technologies than the profile alone.
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 6,008 companies, not a prediction for VV Technologies. 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 (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 27-04-2026 | 2026-00099961 | |
| 30-09-2024 | micro format | 29-04-2025 | 2025-00081165 | |
| 30-09-2023 | micro format | 29-04-2024 | 2024-00081627 | |
| 30-09-2022 | micro format | 11-05-2023 | 2023-00085210 | |
| 30-09-2021 | micro format | 27-04-2022 | 2022-20018339 |