V.T.H.
ActiveSummary
V.T.H. has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.89M and a net result of €9k. Equity is growing by ~11% per year across the filed fiscal years. Its solvency ranks better than 30% of 866 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
44
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability38▼-7
Solvency48▼-2
Growth51▼-16
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €80k at 30 days only on tighter terms
Liquidity tight (current ratio 1.36 against 1.39 in 2024; short-term debt: 73.4% and cash: 0.3% of total assets), and 77.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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 49
Relative position
BE, all sectors
reference
Sector 49
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
22.6%
Return on assets
0.1%
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 03-07-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 d early
2024
37 d early
2023
33 d early
2022
25 d early
2021
32 d early
2020
32 d early
2019
30 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, full schema
Turnover
€32.81M▲ 6.7%
2024 · €30.75M
2019: €24.99M
2020: €25.11M
2021: €26.28M
2022: €29.18M
2023: €29.94M
2024: €30.75M
2019 → 2025
EBIT margin
0.2%▼ 0.9pp
2024 · 1.1%
2019: 0.4%
2020: 0.4%
2021: 0.3%
2022: 1.1%
2023: 1.1%
2024: 1.1%
2019 → 2025
Net result
€9k▼ 96.3%
2024 · €229k
2019: €64k
2020: €78k
2021: €48k
2022: €225k
2023: €229k
2024: €229k
2019 → 2025
Working capital
€2.22M▲ 6.3%
2024 · €2.09M
2019: €1.30M
2020: €1.41M
2021: €1.37M
2022: €1.63M
2023: €1.87M
2024: €2.09M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€26.28M-€29.18M▲ 11.0%€29.94M▲ 2.6%€30.75M▲ 2.7%€32.81M▲ 6.7%
Equity€1.20M-€1.42M▲ 18.8%€1.65M▲ 16.1%€1.88M▲ 13.9%€1.89M▲ 0.5%
Operating result€73k-€314k▲ 328%€330k▲ 5.3%€342k▲ 3.6%€75k▼ 77.9%
Net result€48k-€225k▲ 372%€229k▲ 1.7%€229k▲ 0.3%€9k▼ 96.3%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 78% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8.35M
Fixed assets
€900 =
Current assets
€8.35M ▲ 11.9%
Equity and liabilities €8.35M
Equity
€1.89M ▲ 0.5%
Provisions
€103k =
Debt
€6.36M ▲ 16.1%
Debt's share of the balance-sheet total rises from 73.4% to 76.2%. Equity and debt are higher.
Key figures and ratios
Current ratio
1.36▼
2024 · 1.39
Debt to equity
3.37▲
2024 · 2.92
ROE
0.5%▼
2024 · 12.2%
ROA
0.1%▼
2024 · 3.1%
Debt ≤ 1 year
€6.13M▲
2024 · €5.37M
Income taxes
€49k▼
2024 · €91k
Staff costs
€17.78M▲
2024 · €16.06M
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 · 62 lines
Balance sheet
Code20242025
Assets
Total assets20/58€7.46M€8.35M▲
Fixed assets21/28€900€900=
Financial fixed assets28€900€900=
Other financial fixed assets284/8€900€900=
Amounts receivable and cash guarantees285/8€900€900=
Current assets29/58€7.46M€8.35M▲
Amounts receivable within one year40/41€7.29M€8.16M▲
Trade receivables40€7.22M€8.03M▲
Other amounts receivable41€78k€131k▲
Cash at bank and in hand54/58€5k€27k▲
Deferred charges and accrued income490/1€159k€160k▲
Equity and liabilities
Total equity and liabilities10/49€7.46M€8.35M▲
Equity10/15€1.88M€1.89M▲
Contributions10/11€143k€143k=
Capital10€143k€143k=
Issued capital100€143k€143k=
Reserves13€424k€424k=
Non-distributable reserves130/1€30k€30k=
Legal reserve130€14k€14k=
Reserves not available under the articles1311€14k€14k=
Other1319€1k€1k=
Tax-exempt reserves132€72k€72k=
Distributable reserves133€322k€322k=
Profit (loss) carried forward14€1.31M€1.32M▲
Provisions and deferred taxes16€103k€103k=
Provisions for liabilities and charges160/5€103k€103k=
Pensions and similar obligations160€103k€103k=
Amounts payable17/49€5.48M€6.36M▲
Amounts payable within one year42/48€5.37M€6.13M▲
Trade debts44€2.66M€3.12M▲
Suppliers440/4€2.66M€3.12M▲
Taxes, remuneration and social security45€2.71M€3.01M▲
Taxes450/3€667k€744k▲
Remuneration and social security454/9€2.04M€2.27M▲
Other amounts payable47/48€361€361=
Accrued charges and deferred income492/3€111k€233k▲
Income statement
Code20242025
Operating income70/76A€34.95M€36.85M▲
Turnover70€30.75M€32.81M▲
Other operating income74€4.20M€4.04M▼
Operating charges60/66A€34.61M€36.78M▲
Services and other goods61€18.54M€19.00M▲
Remuneration, social security and pensions62€16.06M€17.78M▲
Other operating charges640/8€4k€957▼
Operating profit (loss)9901€342k€75k▼
Financial income75/76B€2k€4▼
Recurring financial income75€2k€4▼
Income from current assets751€2k-
Other financial income752/9€45€4▼
Financial charges65/66B€24k€18k▼
Recurring financial charges65€24k€18k▼
Debt charges650€22k€16k▼
Other financial charges652/9€1k€2k▲
Profit (loss) for the period before taxes9903€320k€58k▼
Income taxes67/77€91k€49k▼
Taxes670/3€91k€49k▼
Profit (loss) for the period9904€229k€9k▼
Profit (loss) for the period to be appropriated9905€229k€9k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.34M€1.32M▼
Profit (loss) brought forward from the previous period14P€1.11M€1.31M▲
Transfer to equity691/2€25k-
To other reserves6921€25k-
Social balance
Average headcount (FTE)9087308.8319.7▲
The notes to these accounts (29 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
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €9k ▼96.3%
Net result drops to €9k, the lowest in the series.
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2019net €229k ▲0.3%
Operating result €342k, net result €229k, both a record.
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · unclassified schema
2021
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · unclassified schema
2020
01-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
04-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
29-06
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.
Directors · office · real estate
Directors
9 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, Tubize · 3 establishment units since 2004
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.
Avenue Landas 21480 TubizeGround area
4.5 ha
Building footprint
1.4 ha
Volume, LiDAR
25,975 m³
3 parcels, Wallonia · tallest building 10.3 m, ±3 floors. Linked by address, not a title deed.
3 establishment units
SPRL V.T.H.
since 20042.143.946.557
V.T.H.
since 20062.250.208.176
V.T.H.
since 20062.250.208.374
3 parcels
Wallonia
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25097C0529/00P000 | Wallonia | 2.1 ha | 1 · 1.1 ha | - |
| 25097C0530/00K000 | Wallonia | 1.9 ha | 1 · 2,330 m² | 10.3 m · 3 fl. |
| 52021C0318/00P007 | Wallonia | 4,859 m² | 1 · 799 m² | 7.5 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 2
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteTubize2.250.208.176
Parcel delivery
Notified to the BIPT
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Of 12,604 companies in sector 49410 we hold annual accounts for 8,202. 3,108 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 formPublic limited company
Founded20-10-2004
Fiscal year end31-12
Activities, NACEBEL 2025
49410Freight transport by road
Sources
Crossroads Bank for EnterprisesNational Bank · 21 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.