BRAIN VD · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of BRAIN VD is 0.2% (very low). The 2025 annual accounts show equity of €159k and a net result of €286k. Equity remains stable across the filed fiscal years (±2.4% per year). Its solvency ranks better than 36% of 2209 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 5 annual accounts.

Signals

1 signal · with evidence

Consistently profitable

Positive net result in the two most recent financial years (2024 and 2025).

View the result trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-04-2026, 92 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.

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.

How we compute the deadline

The year end is derived from 5 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2025, that is 31-07-2026.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	30-04-2026	92 d early	2026-00096697
31-12-2024	31-07-2025	29-08-2025	29 d late	2025-00430761
31-12-2023	31-07-2024	30-09-2024	61 d late	2024-00487420
31-12-2022	31-07-2023	29-08-2023	29 d late	2023-00375047
31-12-2021	31-07-2022	30-08-2022	30 d late	2022-20343829

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

More than 3 years active

Founded in 2021, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

0.2% Very low

0%0,5%1,5%4%10%≥25%

Lower-failure-rate sector −Young company +Multiple establishment units +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€286k+18.1%

Working capital€119k+3.8%

CSV export

Annual accounts & ratios

Source: NBB · 2025

Annual accounts filed on 30-04-2026 with the NBB · fiscal year 2025 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

stable Equity: stable across 5 fiscal years (±2.4%/year).

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 86, Human health · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	33.8%	58.2%	better than 36% of 2209 sector peers
Net result	€286k	€60k	better than 95% of 2207 sector peers
Equity	€159k	€74k	better than 71% of 2209 sector peers
Gross operating margin	€406k	€96k	better than 95% of 2209 sector peers
Total assets	€469k	€187k	better than 83% of 2209 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P36

Weakening position over 2021-2025 · n=1833-6573

Net result P95

Stable position over 2021-2025 · n=1833-6567

Equity P71

Stable position over 2021-2025 · n=1833-6573

Gross operating margin P95

Stable position over 2021-2025 · n=1834-6575

Describes the position versus peers, not a forecast.

EBITDA

€405k

+23.9% 21-25

Net profit

€286k

+18.1% 21-25

Cash flow

€298k

+17.3% 21-25

Total assets

€469k

-33.2% 21-25

Equity

€159k

+0.5% 21-25

Working capital

€119k

+3.8% 21-25

Income taxes

€109k

+37.6% 21-25

Dividends

€285k

-43.0% 21-25

Debt

€311k

-43.0% 21-25

Debt ≤ 1y

€311k

-43.0% 21-25

Current ratio

1.38

+14.2% 21-25

Quick ratio

1.38

+14.2% 21-25

Solvency

33.8%

+50.5% 21-25

Debt / equity

1.96

-43.3% 21-25

ROE

180.0%

+17.5% 21-25

ROA

60.9%

+76.9% 21-25

Interest coverage

332.52

-60.6% 21-25

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Deposit	micro
Revenue	-
EBITDA	€405k
Net profit	€286k
Cash flow	€298k
Staff costs	-
Income taxes	€109k
Dividends	€285k
Total assets	€469k
Equity	€159k
Debt	€311k
of which ≤ 1y	€311k
of which > 1y	-
Working capital	€119k
Employees (FTE)	-

Ratios (computed)

	2025
Current ratio	1.38
Quick ratio	1.38
Working capital ratio	25.3%
Solvency	33.8%
Debt / equity	1.96
Long-term debt ratio	-
Interest coverage	332.52
Gross margin	-
Net margin	-
ROA	60.9%
ROE	180.0%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €40k · 8.6% Current assets €429k · 91.5%

Equity & liabilities

Equity €159k · 33.8% Debt €311k · 66.2%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€469k
Fixed assets	21/28	€40k
Tangible fixed assets	22/27	€40k
Current assets	29/58	€429k
Amounts receivable within one year	40/41	€17k
Investments	50/53	€27k
Cash & bank	54/58	€218k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€469k
Equity	10/15	€159k
Contributions / capital	10/11	€2k
Reserves	13	€93k
Accumulated profits (losses)	14	€63k
Amounts payable	17/49	€311k
Amounts payable within one year	42/48	€311k
Trade debts payable within one year	44	€43
Income statement
Gross operating margin	9900	€406k
Operating result	9901	€393k
Financial income	75	€2k
Financial charges	65	€1k
Result before taxes	9903	€394k
Income taxes	67/77	€109k
Net result for the period	9904	€286k
Result to be appropriated	9905	€379k

You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2025 · computed

89 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

from the Crossroads Bank

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.

Rue Pionfosse 444140 Sprimont

Establishment units

2 locations

BRAIN VD

Rue Pionfosse 44, 4140 SprimontActiviteiten van medisch specialisten

since 20212.321.129.529

BRAIN VD

Rue de la Clinique 15, 6690 VielsalmActiviteiten van medisch specialisten

since 20212.321.129.628

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels2

Ground area5,929 m²

Buildings2

Building footprint860 m²

Volume (LiDAR)1,164 m³

Tallest building8.7 m · ±2 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Wallonia 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
62100L0929/00F000	Wallonia	3,214 m²	1 · 170 m²	8.7 m · 2 fl.
82032E0788/00F000	Wallonia	2,715 m²	1 · 690 m²	-

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgian State Gazette · acts

No structured acts for this company yet

That means one of two things: the company has published no company deeds, or its deeds are still queued for reading. The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.

Analysis

Snowflake analysis

financial profile on 5 axes

85 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 89

Profitability 100

Solvency 62

Growth 78

Stability 94

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