V - SYSTEMS
ActiveSummary
V - SYSTEMS has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.69M and a net result of €639k. Equity is growing by ~11.3% per year across the filed fiscal years. Its solvency ranks better than 73% of 7777 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
76
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability88▼-12
Solvency89▲+19
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €200k at 30 days acceptable
Liquidity ample (current ratio 1.96 against 1.26 in 2024; short-term debt: 30.7% and cash: 7.9% of total assets), and 35.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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
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
64.4%
Return on assets
15.3%
Age of the figures
9 mo
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 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
21 d early
2023
23 d early
2022
62 d early
2021
62 d early
2020
46 d early
2019
32 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€2.69M▲ 26.5%
2024 · €2.13M
2018: €1.24M
2019: €1.36M
2020: €1.36M
2021: €2.17M
2022: €1.92M
2023: €1.91M
2024: €2.13M
2018 → 2025
Total assets
€4.18M▼ 10.6%
2024 · €4.67M
2018: €2.72M
2019: €2.85M
2020: €2.85M
2021: €3.82M
2022: €3.93M
2023: €3.86M
2024: €4.67M
2018 → 2025
Net result
€639k▼ 49.3%
2024 · €1.26M
2018: €498k
2019: €504k
2020: €579k
2021: €969k
2022: €863k
2023: €959k
2024: €1.26M
2018 → 2025
Working capital
€1.24M▲ 108%
2024 · €595k
2018: €567k
2019: €522k
2020: €548k
2021: €1.17M
2022: €821k
2023: €597k
2024: €595k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€2.17M-€1.92M▼ 11.6%€1.91M▼ 0.3%€2.13M▲ 11.0%€2.69M▲ 26.5%
Operating result€1.19M-€1.11M▼ 7.2%€1.24M▲ 11.9%€1.51M▲ 21.7%€810k▼ 46.3%
Net result€969k-€863k▼ 10.8%€959k▲ 11.0%€1.26M▲ 31.6%€639k▼ 49.3%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 46% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.18M
Fixed assets
€1.66M ▼ 7.2%
Current assets
€2.52M ▼ 12.8%
Equity and liabilities €4.18M
Equity
€2.69M ▲ 26.5%
Provisions
€52k ▼ 3.8%
Debt
€1.43M ▼ 42.5%
Debt's share of the balance-sheet total falls from 53.4% to 34.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.35M▼
2024 · €2.04M
Cash flow
€1.18M▼
2024 · €1.79M
Current ratio
1.96▲
2024 · 1.26
Quick ratio
1.92▲
2024 · 1.23
Debt to equity
0.53▼
2024 · 1.17
ROE
23.8%▼
2024 · 59.3%
ROA
15.3%▼
2024 · 27.0%
Interest coverage
173.12▼
2024 · 294.85
Debt ≤ 1 year
€1.28M▼
2024 · €2.29M
Debt > 1 year
€152k▼
2024 · €202k
Income taxes
€195k▼
2024 · €349k
Staff costs
€772k▼
2024 · €780k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 70 lines
Balance sheet
Code20242025
Assets
Total assets20/58€4.67M€4.18M▼
Fixed assets21/28€1.79M€1.66M▼
Intangible fixed assets21€78k€64k▼
Tangible fixed assets22/27€1.46M€1.32M▼
Plant, machinery and equipment23€1.10M€1.02M▼
Furniture and vehicles24€42k€34k▼
Leasing and similar rights25€309k€266k▼
Other tangible fixed assets26€8k€6k▼
Financial fixed assets28€253k€272k▲
Current assets29/58€2.89M€2.52M▼
Stocks and contracts in progress3€78k€62k▼
Stocks30/36€78k€62k▼
Amounts receivable within one year40/41€1.52M€1.92M▲
Trade receivables40€1.48M€1.82M▲
Other amounts receivable41€35k€99k▲
Current investments50/53€600k€200k▼
Cash at bank and in hand54/58€672k€329k▼
Deferred charges and accrued income490/1€22k€12k▼
Equity and liabilities
Total equity and liabilities10/49€4.67M€4.18M▼
Equity10/15€2.13M€2.69M▲
Contributions10/11€19k€19k=
Reserves13€2.11M€2.67M▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€14k€7k▼
Distributable reserves133€2.09M€2.66M▲
Profit (loss) carried forward14€656€705▲
Provisions and deferred taxes16€55k€52k▼
Provisions for liabilities and charges160/5€50k€50k=
Other liabilities and charges164/5€50k€50k=
Deferred taxes168€5k€2k▼
Amounts payable17/49€2.49M€1.43M▼
Amounts payable after more than one year17€202k€152k▼
Financial debts170/4€202k€152k▼
Amounts payable within one year42/48€2.29M€1.28M▼
Current portion of amounts payable after more than one year42€150k€122k▼
Trade debts44€971k€992k▲
Suppliers440/4€971k€992k▲
Taxes, remuneration and social security45€112k€82k▼
Taxes450/3€48k€29k▼
Remuneration and social security454/9€64k€53k▼
Other amounts payable47/48€1.06M€86k▼
Accrued charges and deferred income492/3€0-
Income statement
Code20242025
Non-recurring operating income76A€0€12k▲
Remuneration, social security and pensions62€780k€772k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€531k€539k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€24k€4k▼
Other operating charges640/8€15k€26k▲
Non-recurring operating charges66A€2k€872▼
Gross operating margin9900€2.86M€2.15M▼
Operating profit (loss)9901€1.51M€810k▼
Financial income75/76B€108k€30k▼
Recurring financial income75€25k€15k▼
Non-recurring financial income76B€83k€15k▼
Financial charges65/66B€7k€8k▲
Recurring financial charges65€7k€8k▲
Profit (loss) for the period before taxes9903€1.61M€832k▼
Transfer from deferred taxes780€2k€2k=
Income taxes67/77€349k€195k▼
Profit (loss) for the period9904€1.26M€639k▼
Transfer from tax-exempt reserves789€6k€6k=
Profit (loss) for the period to be appropriated9905€1.27M€645k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.27M€646k▼
Profit (loss) brought forward from the previous period14P€619€656▲
Transfer to equity691/2€218k€570k▲
To other reserves6921€218k€570k▲
Profit to be distributed694/7€1.05M€75k▼
Return on contributions (dividend)694€875k€0▼
Directors or managers695€175k€75k▼
Social balance
Average headcount (FTE)908712.512.5=
The notes to these accounts (25 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
04-09
State Gazette act
Appointment: Volforto (director)Permanent representative: Jan LAMBERTYN · Mandate compensation4 facts ▸
State Gazette act
Appointment: Volforto (director)
Permanent representative: Jan LAMBERTYN · Mandate compensation4 facts ▸
- General meeting, 03-08-2026
- Director appointment, Volforto (director)
- Mandate compensation, Volforto
- Permanent representative, Jan LAMBERTYN
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €1.26M ▲31.6%
Operating result €1.51M, net result €1.26M, both a record.
31-12
Financial
Equity above €2MEq €2.13M ▲11%
7 profitable years in a row build equity to €2.13M.
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €2MEq €2.17M ▲59.3%
4 profitable years in a row build equity to €2.17M.
15-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
18-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
17-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 11 acts read
About the unread acts
Of the 11 Belgian State Gazette acts we know for this company, 1 has been read. The other 10 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Volforto
CurrentDirector · since 03-08-2026 · Private limited company · perm. rep.: Jan LAMBERTYN
03-08-2026
Appointed as Director
Not every act has been read: a resignation may be missing here
10 of this company's 11 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Deinze · 2 establishment units since 1993
Ground area
4,849 m²
Building footprint
1,727 m²
Volume, LiDAR
12,171 m³
2 parcels, Flanders · tallest building 11.8 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
V-SYSTEMS BVBA
since 19932.064.001.533
Ter Mote 16, 9850 Deinze
since 20132.221.572.885
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44049F0306/00B000 | Flanders | 3,988 m² | 1 · 1,068 m² | 10.2 m · 3 fl. |
| 44049E0510/00F000 | Flanders | 861 m² | 1 · 658 m² | 11.8 m · 2 fl. |
Linked by address, not proof of ownership
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.
Structure & network
Connections & network
2 connected companiesLinked via shared directors
Shared corporate director
→
Shared corporate director
→
Recognitions · licences · registrations
Recognised contractor
6 categoriesV - SYSTEMS BV29256
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Of 15,529 companies in sector 43990 we hold annual accounts for 7,418. 1,663 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded02-10-1993
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
Sources
Crossroads Bank for EnterprisesBelgian Official Gazette · 1 actNational Bank · 32 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesE-mail:boekhouding@vantornhaut.be
Phone:09/374 18 05