IMMO V.S. · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of IMMO V.S. is 0.6% (low). The 2024 annual accounts show equity of €132k and a net result of €20k. Equity is growing by ~10% per year across the filed fiscal years. The company has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 7 annual accounts.

Signals

2 signals · with evidence

Consistently profitable

Positive net result in the two most recent financial years (2023 and 2024).

View the result trend

Growing equity

Equity grew over 2022-2024. Profits are largely retained rather than distributed.

View the equity 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

Deadline passed, not yet counted as missing

The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 11 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-08-2025, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.

How we compute the deadline

The year end is derived from 10 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 31-12-2024, that is 31-07-2025.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	nothing on record	not filed	-
31-12-2024	31-07-2025	31-08-2025	31 d late	2025-00475658
31-12-2023	31-07-2024	30-08-2024	30 d late	2024-00403624
31-12-2022	31-07-2023	02-06-2023	59 d early	2023-00107095
31-12-2021	31-07-2022	27-05-2022	65 d early	2022-20040287
31-12-2020	31-07-2021	28-06-2021	33 d early	2021-26200568
31-12-2019	31-07-2020	24-06-2020	37 d early	2020-20400123
31-12-2018	31-07-2019	05-06-2019	56 d early	2019-16300050
31-12-2017	31-07-2018	23-05-2018	69 d early	2018-13700505
31-12-2016	31-07-2017	30-05-2017	62 d early	2017-14000393
31-12-2015	31-07-2016	17-05-2016	75 d early	2016-12400070

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

Long-established

Founded in 1991, 35 years in business.

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

0.6% Low

0%0,5%1,5%4%10%≥25%

No NACE activity registered +Long track record −Lower-risk legal form −

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€20k-35.8%

Working capital€40k+125.6%

CSV export

Annual accounts & ratios

Source: NBB · 2024

Annual accounts filed on 31-08-2025 with the NBB · fiscal year 2024 · micro

Operating resultNet result

Trajectory (indicative)

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

growing Equity: growth of ~10%/year over 7 fiscal years, indicative, assuming unchanged policy.

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).

EBITDA

€38k

-26.9% 18-24

Net profit

€20k

-35.8% 18-24

Cash flow

€39k

-25.8% 18-24

Total assets

€194k

+1.0% 18-24

Equity

€132k

+17.8% 18-24

Working capital

€40k

+125.6% 18-24

Income taxes

€158

+9.1% 18-24

Debt

€32k

-32.4% 18-24

Debt ≤ 1y

€16k

-5.4% 18-24

Debt > 1y

€16k

-47.5% 18-24

Current ratio

3.43

+69.9% 18-24

Quick ratio

3.43

+69.9% 18-24

Solvency

67.9%

+16.6% 18-24

Debt / equity

0.25

-42.6% 18-24

ROE

15.1%

-45.5% 18-24

ROA

10.3%

-36.5% 18-24

Interest coverage

29.98

-12.3% 18-24

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2024
Deposit	micro
Revenue	-
EBITDA	€38k
Net profit	€20k
Cash flow	€39k
Staff costs	-
Income taxes	€158
Dividends	-
Total assets	€194k
Equity	€132k
Debt	€32k
of which ≤ 1y	€16k
of which > 1y	€16k
Working capital	€40k
Employees (FTE)	-

Ratios (computed)

	2024
Current ratio	3.43
Quick ratio	3.43
Working capital ratio	20.4%
Solvency	67.9%
Debt / equity	0.25
Long-term debt ratio	0.12
Interest coverage	29.98
Gross margin	-
Net margin	-
ROA	10.3%
ROE	15.1%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2024

Assets

Fixed assets €138k · 71.2% Current assets €56k · 28.8%

Equity & liabilities

Equity €132k · 67.9% Provisions €30k · 15.4% Debt €32k · 16.7%

Full annual accounts

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

Line item	Code	2024
Balance sheet, Assets
TOTAL ASSETS	20/58	€194k
Fixed assets	21/28	€138k
Tangible fixed assets	22/27	€138k
Current assets	29/58	€56k
Amounts receivable within one year	40/41	€5k
Cash & bank	54/58	€48k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€194k
Equity	10/15	€132k
Contributions / capital	10/11	€62k
Reserves	13	€64k
Accumulated profits (losses)	14	€6k
Provisions & deferred taxes	16	€30k
Amounts payable	17/49	€32k
Amounts payable after one year	17	€16k
Amounts payable within one year	42/48	€16k
Income statement
Gross operating margin	9900	€43k
Operating result	9901	€19k
Financial income	75	€123
Financial charges	65	€1k
Result before taxes	9903	€18k
Income taxes	67/77	€158
Net result for the period	9904	€20k
Result to be appropriated	9905	€25k

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 2024 · computed

93 / 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 with Plus.

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Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.

Directors

Directors & mandates

2 directors

Current directors & mandates

Andy Vercauteren
Director
State Gazette act 25119117 (22-09-2025)

Current
01-05-2031 → present

Former directors (1)

FV Consult BVLegal entity
Director
State Gazette act 25119117 (22-09-2025)

Former
- → 22-09-2025

Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.

Insolvency mandates

No insolvency mandates (liquidators, administrators) on record for this company.

Legal Structure

NACE primary	-
Legal form	Public limited company(014)
Incorporation	07-02-1991
Status	Active
Postal code	1700

Structure & network

Locations & real estate

Establishment units

1 location

IMMO V.S.

Bodegemstraat 88, 1700 Dilbeekborgstelling en waarborg

since 19912.052.228.901

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

Parcels1

Ground area1,176 m²

Buildings1

Building footprint204 m²

Volume (LiDAR)952 m³

Tallest building7.9 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.

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
23016E0327/00M000	Flanders	1,175 m²	1 · 204 m²	7.9 m · 2 fl.

Methodology

via registered seat: 1

1 of 1 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

Belgisch Staatsblad · acts

1 acts

All acts · 1 updated 10 months ago

2025

22-09-2025 1 director appointed, 1 resigning, 1 reappointed Director changes

Andy Vercauteren, Bestuurder
FV Consult BV, Bestuurder
Frank Vercauteren, Bestuurder

Original publication ↗

Analysis

Snowflake analysis

financial profile on 5 axes

89 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 93

Profitability 76

Solvency 100

Growth 78

Stability 100

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Credit advice

verdict per customer and amount

Company registry

Company registry (CBE)

Crossroads Bank

Names & trade names

Legal nameFR

IMMO V.S.

Registered office

Bodegemstraat 88

1700 Dilbeek, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.