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VGP FOUNDATION

Active
KBO/BCE: BE 0735.540.607
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Checked processes every Belgian company, act by act, from the Belgian Official Gazette. The data below is real and verified, this company's full, act-by-act verified dossier is still being assembled.

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Age6 yrs
Board6
Connections5
Real estate1 parcel · 3,873 m²

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of VGP FOUNDATION is < 0.1% (very low). The 2025 annual accounts show equity of €8.87M and a net result of €-536k. Equity is growing by ~16.1% per year across the filed fiscal years. Its solvency ranks better than 95% of 528 sector peers (fiscal year 2025). 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 6 annual accounts.

Signals

1 signal · with evidence
Strong solvency vs sector
Solvency is in the sector's strongest quartile: better than 95% of 528 peers (2025). A comfortable equity buffer.
View the sector comparison

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

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 administrative flags

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone
< 0.1% Very low
0%0,5%1,5%4%10%≥25%
Lower-risk legal form −Young company +Lower-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€-536k
Working capital€4.52M-26.1%

Annual accounts & ratios

Source: NBB · 2025
Annual accounts filed on 21-05-2026 with the NBB · fiscal year 2025 · verkort
€-2.00M€0€2.00M€4.00MOperating result 2021: €2.45M€2.45MNet result 2021: €2.45M€2.45MOperating result 2022: €4.21M€4.21MNet result 2022: €4.20M€4.20MOperating result 2023: €-808k€-808kNet result 2023: €-721k€-721kOperating result 2024: €1.25M€1.25MNet result 2024: €1.36M€1.36MOperating result 2025: €-581k€-581kNet result 2025: €-536k€-536k20212022202320242025
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 ~16.1%/year over 6 fiscal years, indicative, assuming unchanged policy.
€0€5.00M€10.00M€15.00M€20.00M2026: €11.73M (€10.05M - €13.41M)2027: €13.09M (€10.41M - €15.77M)2028: €14.44M (€10.76M - €18.13M)2020: €2.11M2021: €4.56M2022: €8.77M2023: €8.04M2024: €9.40M2025: €8.87M202020212022202320242025202620272028
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 68, Real estate activities · compared within the same schema type (abbreviated schema)
Metric This company Sector median Position in the sector
Solvency 99.6% 16.2%
better than 95% of 528 sector peers
Net result €-536k €6k
better than 5% of 528 sector peers
Equity €8.87M €152k
better than 95% of 528 sector peers
Gross operating margin €-31k €78k
better than 5% of 527 sector peers
Total assets €8.90M €1.34M
better than 85% of 528 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 P95
2020: P95 · n=4612021: P95 · n=6942022: P95 · n=10992023: P95 · n=14362024: P95 · n=16972025: P95 · n=5282020 2025
Stable position over 2020-2025 · n=461-1697
Net result P5
2020: P95 · n=4612021: P95 · n=6942022: P95 · n=10992023: P5 · n=14322024: P95 · n=16932025: P5 · n=5282020 2025
Stable position over 2020-2025 · n=461-1693
Equity P95
2020: P85 · n=4612021: P92 · n=6942022: P95 · n=10992023: P95 · n=14362024: P95 · n=16972025: P95 · n=5282020 2025
Stable position over 2020-2025 · n=461-1697
Gross operating margin P5
2020: P95 · n=4602021: P95 · n=6922022: P95 · n=10952023: P5 · n=14322024: P95 · n=16942025: P5 · n=5272020 2025
Stable position over 2020-2025 · n=460-1694
Describes the position versus peers, not a forecast.
EBITDA
€-580k
- 20-25
Net profit
€-536k
- 20-25
Cash flow
€-535k
- 20-25
Total assets
€8.90M
-6.8% 20-25
Equity
€8.87M
-5.7% 20-25
Working capital
€4.52M
-26.1% 20-25
Income taxes
€19k
-57.2% 20-25
Debt
€32k
-78.2% 20-25
Debt ≤ 1y
€32k
-78.2% 20-25
Current ratio
140.31
+233.7% 20-25
Quick ratio
139.28
+233.1% 20-25
Solvency
99.6%
+1.2% 20-25
Debt / equity
0.00
-76.9% 20-25
ROE
-6.0%
- 20-25
ROA
-6.0%
- 20-25
Interest coverage
-3471.87
- 20-25
Figures by fiscal year
Fiscal year2025
Revenue-
EBITDA€-580k
Net profit€-536k
Cash flow€-535k
Staff costs-
Income taxes€19k
Dividends-
Total assets€8.90M
Equity€8.87M
Debt€32k
of which ≤ 1y€32k
of which > 1y-
Working capital€4.52M
Employees (FTE)-
Ratios (computed)
2025
Current ratio140.31
Quick ratio139.28
Working capital ratio50.8%
Solvency99.6%
Debt / equity0.00
Long-term debt ratio-
Interest coverage-3471.87
Gross margin-
Net margin-
ROA-6.0%
ROE-6.0%
EBITDA margin-
Days sales outstanding-
Days payable outstanding321d
Inventory turnover0.95
Days inventory (DSI)386d
Balance-sheet composition 2025
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2025
Balance sheet, Assets
TOTAL ASSETS 20/58€8.90M
Fixed assets 21/28€4.34M
Tangible fixed assets 22/27€4.34M
Current assets 29/58€4.56M
Stocks & contracts in progress 3€34k
Amounts receivable within one year 40/41€1.77M
Investments 50/53€2.17M
Cash & bank 54/58€590k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€8.90M
Equity 10/15€8.87M
Contributions / capital 10/11€25k
Accumulated profits (losses) 14€8.84M
Amounts payable 17/49€32k
Amounts payable within one year 42/48€32k
Trade debts payable within one year 44€28k
Income statement
Gross operating margin 9900€-31k
Operating result 9901€-581k
Financial income 75€64k
Financial charges 65€167
Result before taxes 9903€-517k
Income taxes 67/77€19k
Net result for the period 9904€-536k
Result to be appropriated 9905€-536k
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
52 / 100 Fair
050100

Unlock the full score breakdown, per-year score history and the indicative credit limit with Plus.

See plans →
Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative, not credit advice.

Directors

Directors & mandates

6 directors
Current directors & mandates
  • Anne Marie Julia Joanna Frances De Paepe
    Director
    State Gazette act 25055256 (28-04-2025)
    Current
    27-05-2024 → present
  • Ann Demeulemeester-Verhelst
    Director
    State Gazette act 22072385 (17-06-2022)
    Current
    17-12-2021 → present
  • Anne De Paepe
    Director
    State Gazette act 21057511 (12-05-2021)
    Current
    27-05-2020 → present
  • Hugo Van Geet
    Director
    State Gazette act 25055256 (28-04-2025)
    Current
    27-05-2020 → present
    2 events
    • 27-05-2024 Mandate renewed· Director
    • 27-05-2020 Appointed· Director
  • Olaf Tschimpke
    Director
    State Gazette act 25055256 (28-04-2025)
    Current
    27-05-2020 → present
    2 events
    • 27-05-2024 Mandate renewed· Director
    • 27-05-2020 Appointed· Director
  • Tereza Van Malderen
    Director
    State Gazette act 25055256 (28-04-2025)
    Current
    27-05-2020 → present
    2 events
    • 27-05-2024 Mandate renewed· Director
    • 27-05-2020 Appointed· Director
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.

Insolvency mandates

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

Legal Structure

NACE primary Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen(68203)
Legal form Private foundation(026)
Incorporation02-10-2019
StatusActive
Postal code2018

Structure & network

Connections & network

5 connected companies
DEUTSCHE LEASING BENELUX, Shared address DLDEUTSCHELEASING …NELUXIMMPACT VASTGOED, Shared address IVIMMPACTVASTGOEDLE GENEVE No 4, Shared address LGLE GENEVE No 4VGP, Shared address VVGPWaar De Ring, Shared address WDWaar De RingVGP FOUNDATION VGPFOUNDATION0735.540.607
Shared address / shareholder
Network connections
→
IMMPACT VASTGOED
Shared address
→
LE GENEVE No 4
Shared address
→
VGP
Shared address
→
Waar De Ring
Shared address
→
Connections derived from shared directors, addresses, shareholders and group structure in the Belgian State Gazette.

Locations & real estate

Registered office

on the map · from the address register
seat.Municipality exact location from the address register
19 companies at this address See who is registered here
Parcels1
Ground area3,873 m²
Buildings1
Building footprint1,078 m²
Volume (LiDAR)17,712 m³
Tallest building21.7 m · ±6 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.
11810K0015/00B003 Flanders 3,873 m² 1 · 1,078 m² 21.7 m · 6 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

5 acts
Address history · 1
21-10-2021
v3.2
All acts · 5 updated 3 months ago
2026
06-05-2026 Board meeting · Officer appointment · Officer resignation · Power of attorney Open-capture extraction
  • Filing: 2026-04-09 · VGP Foundation
  • Publication: 2026-05-06 · VGP Foundation
  • Board meeting: 2026-03-03 · VGP Foundation
  • Officer appointment: role: C-bestuurder, term: 4 years, start_date: 2026-03-05 · Andreas Scholl
  • Officer appointment: role: C-bestuurder, term: 4 years, start_date: 2026-03-05 · Liesbet Hoebanx
  • Officer resignation: role: C-bestuurder, end_date: 2025-12-17 · Demeulemeester-Verhelst Ann
  • Power of attorney: date: 2026-03-03, scope: op te stellen en te ondertekenen, en meer algemeen, alle handelingen te stellen die nodig of nuttig zijn om de formaliteiten in verband met de neerlegging van deze notulen op de griffie van de bevoegde ondernemingsrechtbank en bekendmaking ervan in de Bijlagen bij het Belgisch Staatsblad te vervullen, granted_by: raad van bestuur · VGP Foundation
  • Power of attorney: date: 2026-03-03, scope: op te stellen en te ondertekenen, en meer algemeen, alle handelingen te stellen die nodig of nuttig zijn om de formaliteiten in verband met de neerlegging van deze notulen op de griffie van de bevoegde ondernemingsrechtbank en bekendmaking ervan in de Bijlagen bij het Belgisch Staatsblad te vervullen, granted_by: raad van bestuur · VGP Foundation
  • Power of attorney: date: 2026-03-03, scope: op te stellen en te ondertekenen, en meer algemeen, alle handelingen te stellen die nodig of nuttig zijn om de formaliteiten in verband met de neerlegging van deze notulen op de griffie van de bevoegde ondernemingsrechtbank en bekendmaking ervan in de Bijlagen bij het Belgisch Staatsblad te vervullen, granted_by: raad van bestuur · VGP Foundation
  • Act object: benoeming en ontslag van C-bestuurders
Summary: Board meeting · Officer appointment · Officer resignation · Power of attorney
2025
28-04-2025 4 reappointed Director changes
  • Hugo Van Geet, Bestuurder
  • Tereza Van Malderen, Bestuurder
  • Olaf Tschimpke, Bestuurder
  • Anne Marie Julia Joanna Frances De Paepe, Bestuurder
Summary: v3.2
2022
17-06-2022 Ann Demeulemeester-Verhelst appointed as director Director changes
  • Ann Demeulemeester-Verhelst, Bestuurder
Summary: v3.2
2021
21-10-2021 Registered office moved within Antwerpen Registered-office change
  • Uitbreidingstraat 72, 2600 Antwerpen → Generaal Lemanstraat 55, 2018 Antwerpen
Summary: v3.2
12-05-2021 4 directors appointed Director changes
  • Hugo Van Geet, Bestuurder
  • Tereza Van Malderen, Bestuurder
  • Olaf Tschimpke, Bestuurder
  • Anne De Paepe, Bestuurder
Summary: v3.2

Analysis

Snowflake analysis

financial profile on 5 axes
Health52Profitability0Solvency100Growth52Stability100
61 / 100

Strong profile, led by solvency.

Health 52
Profitability 0
Solvency 100
Growth 52
Stability 100

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Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.

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Company registry

Company registry (CBE)

Crossroads Bank
Activities
Verhuur en exploitatie van eigen of geleasd niet-residentieel onroerend goed, exclusief terreinen68203Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen68203
Primary activity highlighted.
Names & trade names
Legal nameNL VGP FOUNDATION
Registered office
Generaal Lemanstraat 55 bus 4
2018 Antwerpen, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.