VZN
ActiveVZN has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-179k) and a net result of €14k. Equity is shrinking by ~11.3% per year across the filed fiscal years. Its solvency ranks better than 5% of 27787 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
46
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability86▼-9
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.07 against 0.14 in 2024; short-term debt: 251.6% and cash: 4.6% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Eight 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-176.1%
Return on assets
13.8%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 27787 sector peers (2025).
NBB · sector comparisonPosition among 27787 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 05-05-2026, 87 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
87 d early
2024
59 d early
2023
8 d late
2022
46 d early
2021
19 d early
2020
60 d late
2019
6 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
23-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-179k▲ 7.3%
2024 · €-193k
2018: €6k
2019: €-81k
2020: €-156k
2021: €-217k
2022: €-211k
2023: €-215k
2024: €-193k
2018 → 2025
Total assets
€102k▼ 4.6%
2024 · €107k
2018: €429k
2019: €335k
2020: €259k
2021: €198k
2022: €188k
2023: €118k
2024: €107k
2018 → 2025
Net result
€14k▼ 37.4%
2024 · €22k
2018: €-50k
2019: €-88k
2020: €-75k
2021: €-61k
2022: €6k
2023: €-4k
2024: €22k
2018 → 2025
Working capital
€-238k▼ 14.3%
2024 · €-209k
2018: €-102k
2019: €-154k
2020: €-184k
2021: €-197k
2022: €-199k
2023: €-209k
2024: €-209k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-217k-€-211k▲ 2.7%€-215k▼ 2.1%€-193k▲ 10.4%€-179k▲ 7.3%
Operating result€-50k-€16k€12k▼ 25.9%€28k▲ 134%€19k▼ 35.0%
Net result€-61k-€6k€-4k€22k€14k▼ 37.4%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 35% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €102k
Fixed assets
€84k▲ 14.3%
Current assets
€17k▼ 47.3%
Key figures and ratios
EBITDA
€44k▼
2024 · €50k
Cash flow
€39k▼
2024 · €44k
Solvency
-176.1%▲
2024 · -181.2%
Current ratio
0.07▼
2024 · 0.14
Quick ratio
0.07▼
2024 · 0.14
Debt / equity
-1.57▼
2024 · -1.55
ROA
13.8%▼
2024 · 21.0%
Interest coverage
9.68▲
2024 · 8.21
Debt
€281k▼
2024 · €300k
Debt ≤ 1 year
€256k▲
2024 · €241k
Debt > 1 year
€25k▼
2024 · €58k
Income taxes
€0▼
2024 · €2
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€107k€102k▼
Fixed assets21/28€74k€84k▲
Tangible fixed assets22/27€74k€84k▲
Land and buildings22€74k€75k▲
Plant, machinery and equipment23-€7k
Furniture and vehicles24-€2k
Current assets29/58€33k€17k▼
Amounts receivable within one year40/41€19k€6k▼
Trade receivables40€19k€6k▼
Other amounts receivable41€0€3▲
Cash at bank and in hand54/58€7k€5k▼
Deferred charges and accrued income490/1€6k€6k▲
Equity and liabilities
Total equity and liabilities10/49€107k€102k▼
Equity10/15€-193k€-179k▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€10k€10k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Distributable reserves133€3k€3k=
Profit (loss) carried forward14€-264k€-250k▲
Amounts payable17/49€300k€281k▼
Amounts payable after more than one year17€58k€25k▼
Financial debts170/4€58k€25k▼
Amounts payable within one year42/48€241k€256k▲
Current portion of amounts payable after more than one year42€33k€33k=
Trade debts44€122€1k▲
Suppliers440/4€122€1k▲
Taxes, remuneration and social security45-€285
Taxes450/3-€285
Other amounts payable47/48€208k€221k▲
Accrued charges and deferred income492/3€0-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€21k€25k▲
Other operating charges640/8€4k€4k▲
Gross operating margin9900€54k€48k▼
Operating profit (loss)9901€28k€19k▼
Financial income75/76B€7€8▲
Recurring financial income75€7€8▲
Financial charges65/66B€6k€5k▼
Recurring financial charges65€6k€5k▼
Profit (loss) for the period before taxes9903€22k€14k▼
Income taxes67/77€2€0▼
Profit (loss) for the period9904€22k€14k▼
Profit (loss) for the period to be appropriated9905€22k€14k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-264k€-250k▲
Profit (loss) brought forward from the previous period14P€-287k€-264k▲
The notes to these accounts (7 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
05-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
02-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €22k
Net result €22k after one loss-making year.
08-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 8 days late
2023
15-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €6k
Net result €6k after 4 loss-making years.
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 60 days late
2020
06-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 6 days late
2019
31-12
Financial
Weakest financial yearnet €-88k
Net result drops to €-88k, the lowest in the series; recovery starts the following year.
12-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 12 days late
2018
12-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Geetbets · 1 establishment unit since 2002
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.
Lutzestraat 563454 GeetbetsGround area
3.7 ha
Building footprint
590 m²
Volume, LiDAR
4,109 m³
Parcel 24095E0103/00S000, Flanders · tallest building 12.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Lutzestraat 56, 3454 Geetbets
since 20022.101.573.789
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24095E0103/00S000 | Flanders | 3.7 ha | 1 · 590 m² | 12.3 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 4,097 companies in sector 43240 we hold annual accounts for 1,632. 693 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded13-02-2002
Fiscal year end31-12
Activities, NACEBEL
43240Other construction installation
43299Specialised construction activities
43320Joinery installation
73200Market research and public opinion polling
Sources
Crossroads Bank for EnterprisesNational Bank · 24 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.