VVTW
ActiveSummary
VVTW has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €154,421 and a net result of €27,213. Equity is growing by ~20.6% per year across the filed fiscal years. Its solvency ranks better than 36% of 687 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▲+26
Solvency50▼-1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity ample (current ratio 2.33 against 2.89 in 2024; short-term debt: 41.7% and cash: 87.8% of total assets), but 75.1% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 58
Relative position
BE, all sectors
reference
Publishing activities (NACE 58)
about 30% fewer 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 2025Solvency, return and age of the figures
Solvency
24.9%
Return on assets
4.4%
Age of the figures
15 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
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 05-12-2025, 57 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
57 d early
2024
72 d early
2023
61 d early
2022
68 d early
2021
41 d early
2020
62 d early
2019
65 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 61 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 37% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 1 December (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close30-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€154,421▲ 21.4%
2024 · €127,208
Total assets
€621,002▲ 28.6%
2024 · €482,769
Net result
€27,213▲ 1,487%
2024 · €1,714
Working capital
€345,667▲ 14.5%
2024 · €302,019
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 58, Publishing activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€70,805▲ 23.6%€50,697▼ 28.4%€57,909▲ 14.2%€12,336▼ 78.7%€41,351▲ 235%
Net result€57,633above the sector's middle half▲ 39.7%€36,884above the sector's middle half▼ 36.0%€37,844above the sector's middle half▲ 2.6%€1,714within the sector's middle half▼ 95.5%€27,213within the sector's middle half▲ 1,487%
Equity€75,568within the sector's middle half▲ 57.6%€95,785within the sector's middle half▲ 26.8%€125,493within the sector's middle half▲ 31.0%€127,208within the sector's middle half▲ 1.4%€154,421above the sector's middle half▲ 21.4%
Total assets€411,262above the sector's middle half▲ 24.6%€324,932above the sector's middle half▼ 21.0%€470,535above the sector's middle half▲ 44.8%€482,769above the sector's middle half▲ 2.6%€621,002above the sector's middle half▲ 28.6%
Debt€335,694▲ 19.0%€229,146▼ 31.7%€345,042▲ 50.6%€355,561▲ 3.0%€466,581▲ 31.2%
Working capital€314,994above the sector's middle half▲ 21.9%€242,633above the sector's middle half▼ 23.0%€368,567above the sector's middle half▲ 51.9%€302,019above the sector's middle half▼ 18.1%€345,667above the sector's middle half▲ 14.5%
Solvency18.4%within the sector's middle half▲ 3.9pp29.5%within the sector's middle half▲ 11.1pp26.7%within the sector's middle half▼ 2.8pp26.3%within the sector's middle half▼ 0.3pp24.9%within the sector's middle half▼ 1.5pp
Current ratio4.49above the sector's middle half▼ 0.234.60above the sector's middle half▲ 0.115.31above the sector's middle half▲ 0.712.89within the sector's middle half▼ 2.422.33within the sector's middle half▼ 0.55
Return on assets (ROA)14.0%within the sector's middle half▲ 1.5pp11.4%within the sector's middle half▼ 2.7pp8.0%within the sector's middle half▼ 3.3pp0.4%within the sector's middle half▼ 7.7pp4.4%within the sector's middle half▲ 4.0pp
Staff (FTE)1.7▲ 70.0%2.6▲ 52.9%2.6=4.2▲ 61.5%5.2▲ 23.8%
above
within
below
the middle half (P25 to P75) of NACE 58, Publishing activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 235% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €621,002
Fixed assets
€16,177 ▼ 21.5%
Current assets
€604,825 ▲ 30.9%
Equity and liabilities €621,002
Equity
€154,421 ▲ 21.4%
Debt
€466,581 ▲ 31.2%
Debt's share of the balance-sheet total rises from 73.7% to 75.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€51,019▲
2024 · €19,798
Cash flow
€36,881▲
2024 · €9,176
Debt to equity
3.02▲
2024 · 2.80
ROE
17.6%▲
2024 · 1.3%
Interest coverage
7.67▲
2024 · 3.45
Debt ≤ 1 year
€259,158▲
2024 · €160,133
Debt > 1 year
€35,314▼
2024 · €45,981
Income taxes
€15,820▲
2024 · €10,244
Staff costs
€399,687▲
2024 · €307,361
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,508 companies that looked in July 2024 the way this one looks now, 1.4% went bankrupt within 24 months and 97% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.4%
went bankrupt
1.6%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 4,508 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €163,539 | €175,429 | €307,361 | €399,687 | ▲ 30.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,053 | €3,492 | €6,106 | €7,462 | €9,668 | ▲ 29.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €4,976 | - | - | -€4,976 | - |
| Other operating charges640/8 | - | €874 | €1,299 | €2,060 | €6,993 | ▲ 240% |
| Gross operating margin9900 | €155,074 | €223,577 | €240,744 | €329,218 | €452,723 | ▲ 37.5% |
| Operating profit (loss)9901 | €70,805 | €50,697 | €57,909 | €12,336 | €41,351 | ▲ 235% |
| Financial income75/76B | - | €177 | €899 | €5,365 | €8,333 | ▲ 55.3% |
| Recurring financial income75 | €50 | €177 | €899 | €5,365 | €8,333 | ▲ 55.3% |
| Financial charges65/66B | - | €2,215 | €3,988 | €5,742 | €6,650 | ▲ 15.8% |
| Recurring financial charges65 | €1,836 | €2,215 | €3,988 | €5,742 | €6,650 | ▲ 15.8% |
| Profit (loss) for the period before taxes9903 | €69,019 | €48,658 | €54,820 | €11,958 | €43,034 | ▲ 260% |
| Income taxes67/77 | €11,386 | €11,774 | €16,976 | €10,244 | €15,820 | ▲ 54.4% |
| Profit (loss) for the period9904 | €57,633 | €36,884 | €37,844 | €1,714 | €27,213 | ▲ 1,487% |
| Profit (loss) for the period to be appropriated9905 | €57,633 | €36,884 | €37,844 | €1,714 | €27,213 | ▲ 1,487% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €411,262 | €324,932 | €470,535 | €482,769 | €621,002 | ▲ 28.6% |
| Fixed assets21/28 | €5,996 | €14,870 | €16,399 | €20,617 | €16,177 | ▼ 21.5% |
| Intangible fixed assets21 | - | €6,322 | €5,057 | €3,792 | €4,398 | ▲ 16.0% |
| Tangible fixed assets22/27 | €5,996 | €8,549 | €11,342 | €16,826 | €11,118 | ▼ 33.9% |
| Furniture and vehicles24 | - | €8,549 | €11,342 | €16,826 | €11,118 | ▼ 33.9% |
| Financial fixed assets28 | - | - | - | - | €661 | - |
| Current assets29/58 | €405,266 | €310,061 | €454,137 | €462,152 | €604,825 | ▲ 30.9% |
| Amounts receivable within one year40/41 | €37,117 | €37,034 | €11,684 | €24,932 | €40,483 | ▲ 62.4% |
| Trade receivables40 | - | €33,670 | €6,877 | €13,005 | €34,323 | ▲ 164% |
| Other amounts receivable41 | - | €3,364 | €4,807 | €11,926 | €6,161 | ▼ 48.3% |
| Cash at bank and in hand54/58 | €358,684 | €259,097 | €429,384 | €421,071 | €545,450 | ▲ 29.5% |
| Deferred charges and accrued income490/1 | - | €13,931 | €13,069 | €16,149 | €18,892 | ▲ 17.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €411,262 | €324,932 | €470,535 | €482,769 | €621,002 | ▲ 28.6% |
| Equity10/15 | €75,568 | €95,785 | €125,493 | €127,208 | €154,421 | ▲ 21.4% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €3,060 | €3,060 | €3,060 | €3,060 | €3,060 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Other1319 | - | €1,860 | €1,860 | - | - | - |
| Tax-exempt reserves132 | - | €1,200 | €1,200 | €1,200 | €1,200 | = |
| Distributable reserves133 | - | - | - | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €53,908 | €74,125 | €103,833 | €105,548 | €132,761 | ▲ 25.8% |
| Amounts payable17/49 | €335,694 | €229,146 | €345,042 | €355,561 | €466,581 | ▲ 31.2% |
| Amounts payable after more than one year17 | - | - | €56,423 | €45,981 | €35,314 | ▼ 23.2% |
| Financial debts170/4 | - | - | €56,423 | €45,981 | €35,314 | ▼ 23.2% |
| Amounts payable within one year42/48 | €90,272 | €67,428 | €85,570 | €160,133 | €259,158 | ▲ 61.8% |
| Current portion of amounts payable after more than one year42 | - | - | €10,223 | €10,442 | €10,667 | ▲ 2.1% |
| Trade debts44 | €8,771 | €9,608 | €10,009 | €27,485 | €35,257 | ▲ 28.3% |
| Suppliers440/4 | - | €9,608 | €10,009 | €27,485 | €35,257 | ▲ 28.3% |
| Advances received on contracts in progress46 | - | - | - | €59,225 | €105,300 | ▲ 77.8% |
| Taxes, remuneration and social security45 | - | €41,153 | €57,203 | €62,967 | €107,920 | ▲ 71.4% |
| Taxes450/3 | - | €18,974 | €13,196 | €4,900 | €15,149 | ▲ 209% |
| Remuneration and social security454/9 | - | €22,179 | €44,007 | €58,067 | €92,771 | ▲ 59.8% |
| Other amounts payable47/48 | - | €16,667 | €8,136 | €14 | €14 | = |
| Accrued charges and deferred income492/3 | - | €161,718 | €203,048 | €149,448 | €172,108 | ▲ 15.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €57,633 | €36,884 | €37,844 | €1,714 | €27,213 | ▲ 1,487% |
| + Depreciation and write-downs630 | €3,053 | €3,492 | €6,106 | €7,462 | €9,668 | ▲ 29.6% |
| Operating cash flow (approximation) | €60,686 | €40,376 | €43,951 | €9,176 | €36,881 | ▲ 302% |
| Investment in fixed assets (approximation) | - | -€12,366 | -€7,635 | -€11,681 | -€5,227 | ▲ 55.3% |
| Change in cash | - | -€99,587 | €170,286 | -€8,313 | €124,379 | ▲ 1,596% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
05-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
30-06
Financial
Equity above €150,000Eq €154,421 ▲21.4%
7 profitable years in a row build equity to €154,421.
2024
20-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
30-06
Financial
Weakest financial yearnet €1,714 ▼95.5%
Net result drops to €1,714, the lowest in the series; recovery starts the following year.
2023
01-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
30-06
Financial
Equity above €100,000Eq €125,493 ▲31%
5 profitable years in a row build equity to €125,493.
2022
24-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
21-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
30-06
Financial
Highest result since 2019net €57,633 ▲39.7%
Operating result €70,805, net result €57,633, both a record.
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
27-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
27-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
25-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
30-11
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Liège · 2 establishment units since 2014
Ground area
3,669 m²
Building footprint
588 m²
Volume, LiDAR
967 m³
2 parcels, Wallonia · tallest building 7.4 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
-
since 20142.232.565.658
V.V.T.W
since 20222.330.499.927
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62312A0453/00F002 | Wallonia | 2,776 m² | 1 · 412 m² | - |
| 62059C0229/00E002 | Wallonia | 894 m² | 1 · 176 m² | 7.4 m · 2 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 1,287 companies in sector 58290 we hold annual accounts for 593. 469 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
Founded28-05-2014
Fiscal year end30-06
Activities, NACEBEL 2025
58290Other software publishing
62200Computer consultancy and computer facilities management
18200Printing and reproduction of recorded media
62100Computer programming
63100Computing infrastructure, data processing, hosting and related activities
Contact
E-mail
j.teixeira@budeen.netLiège
Phone
0487/41.91.20Liège
E-invoicing
Reachable via Peppol
Peppol ID
0208:0553476060
Also
9925:BE0553476060
Registered
01-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.