VB-TEC · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of VB-TEC is 2.1% (moderate). The 2024 annual accounts show equity of €295k and a net result of €120k. Equity is growing by ~32.2% per year across the filed fiscal years. Its solvency ranks better than 26% of 992 sector peers (fiscal year 2024). The company has been active since 2019 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 (2023 and 2024).

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

Deadline passed, not yet counted as missing

The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 12 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 29-08-2025, 29 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 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 31-12-2024, 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	29-08-2025	29 d late	2025-00482280
31-12-2023	31-07-2024	19-07-2024	12 d early	2024-00293593
31-12-2022	31-07-2023	26-06-2023	35 d early	2023-00164415
31-12-2021	31-07-2022	23-09-2022	54 d late	2022-20435733
31-12-2020	31-07-2021	30-07-2021	1 d early	2021-46000161

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 2019, 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

2.1% Moderate

0%0,5%1,5%4%10%≥25%

Young company +Higher-failure-rate sector +

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€120k-49.9%

Working capital€105k-17.2%

CSV export

Annual accounts & ratios

Source: NBB · 2024

Annual accounts filed on 29-08-2025 with the NBB · fiscal year 2024 · verkort

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 ~32.2%/year over 5 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).

Sector comparison

Fiscal year 2024 · NACE 43, Specialised construction · compared within the same schema type (abbreviated schema)

Metric	This company	Sector median	Position in the sector
Solvency	15.9%	35.4%	better than 26% of 992 sector peers
Net result	€120k	€30k	better than 79% of 991 sector peers
Equity	€295k	€121k	better than 68% of 992 sector peers
Gross operating margin	€340k	€172k	better than 66% of 991 sector peers
Staff costs	€88k	€194k	higher than 32% of 619 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 P26

Weakening position over 2020-2024 · n=430-992

Net result P79

Stable position over 2020-2024 · n=430-991

Equity P68

Improving position over 2020-2024 · n=430-992

Gross operating margin P66

Improving position over 2020-2024 · n=429-991

Describes the position versus peers, not a forecast.

EBITDA

€232k

-35.4% 20-24

Net profit

€120k

-49.9% 20-24

Cash flow

€181k

-41.9% 20-24

Total assets

€1.85M

+21.7% 20-24

Equity

€295k

-1.7% 20-24

Working capital

€105k

-17.2% 20-24

Employees (FTE)

1

+27.3% 20-24

Staff costs

€88k

+66.7% 20-24

Income taxes

€16k

-37.6% 20-24

Dividends

€20k

- 20-24

Debt

€1.56M

+28.3% 20-24

Debt ≤ 1y

€1.05M

+52.0% 20-24

Debt > 1y

€502k

-3.8% 20-24

Current ratio

1.10

-7.1% 20-24

Quick ratio

0.80

-23.9% 20-24

Solvency

15.9%

-19.2% 20-24

Debt / equity

5.28

+30.5% 20-24

ROE

40.7%

-49.0% 20-24

ROA

6.5%

-58.8% 20-24

Interest coverage

5.44

-63.2% 20-24

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2024
Deposit	verkort
Revenue	-
EBITDA	€232k
Net profit	€120k
Cash flow	€181k
Staff costs	€88k
Income taxes	€16k
Dividends	€20k
Total assets	€1.85M
Equity	€295k
Debt	€1.56M
of which ≤ 1y	€1.05M
of which > 1y	€502k
Working capital	€105k
Employees (FTE)	1.4

Ratios (computed)

	2024
Current ratio	1.10
Quick ratio	0.80
Working capital ratio	5.7%
Solvency	15.9%
Debt / equity	5.28
Long-term debt ratio	1.70
Interest coverage	5.44
Gross margin	-
Net margin	-
ROA	6.5%
ROE	40.7%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2024

Assets

Fixed assets €699k · 37.7% Current assets €1.15M · 62.3%

Equity & liabilities

Equity €295k · 15.9% Debt €1.56M · 84.1%

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	€1.85M
Fixed assets	21/28	€699k
Intangible fixed assets	21	€5k
Tangible fixed assets	22/27	€653k
Financial fixed assets	28	€41k
Current assets	29/58	€1.15M
Stocks & contracts in progress	3	€311k
Amounts receivable within one year	40/41	€721k
Cash & bank	54/58	€112k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€1.85M
Equity	10/15	€295k
Contributions / capital	10/11	€10k
Accumulated profits (losses)	14	€285k
Provisions & deferred taxes	16	€0
Amounts payable	17/49	€1.56M
Amounts payable after one year	17	€502k
Amounts payable within one year	42/48	€1.05M
Trade debts payable within one year	44	€305k
Income statement
Gross operating margin	9900	€340k
Operating result	9901	€170k
Financial income	75	€9k
Financial charges	65	€43k
Result before taxes	9903	€136k
Income taxes	67/77	€16k
Net result for the period	9904	€120k
Result to be appropriated	9905	€120k

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

60 / 100 Healthy

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 2024. 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.

Brugsesteenweg 818740 Pittem

Establishment units

1 location

VB-TEC

Brugsesteenweg 81, 8740 PittemAanleg van leidingen voor het vervoer en distributie van elektrische energie

since 20192.293.962.601

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

Parcels1

Ground area5,177 m²

Buildings1

Building footprint1,185 m²

Volume (LiDAR)5,134 m³

Tallest building7.6 m · ±1 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.
37011D1488/00C000	Flanders	5,177 m²	1 · 1,184 m²	7.6 m · 1 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

Address history · 1

10-07-2024

Registered-office move

All acts · 1 updated 2 years ago

2024

10-07-2024 Registered office moved to Pittem Registered-office change

8740 Pittem, Brugsesteenweg 81

Original publication ↗

Analysis

Snowflake analysis

financial profile on 5 axes

67 / 100

Strong profile, led by profitability.

All 5 axes are computed from data Checked has read.

Health 60

Profitability 100

Solvency 24

Growth 52

Stability 100

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