Vlinth · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of Vlinth is 2.6% (moderate). The 2024 annual accounts show equity of €43k and a net result of €23k. Equity is growing by ~62.1% per year across the filed fiscal years. Its solvency ranks better than 20% of 11088 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 4 annual accounts.

Signals

3 signals · with evidence

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 11088 sector peers (2024).

View the sector comparison

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, 15 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.

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-07-2025, 7 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.

How we compute the deadline

The year end is derived from 4 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	24-07-2025	7 d early	2025-00300882
31-12-2023	31-07-2024	31-07-2024	on the day	2024-00312583
31-12-2022	31-07-2023	31-07-2023	on the day	2023-00295675
31-12-2021	31-07-2022	29-09-2022	60 d late	2022-20439653

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 2021, 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

2.6% Moderate

0%0,5%1,5%4%10%≥25%

Young company +Higher-failure-rate sector +Annual accounts: weaker financial profile +

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€23k+1075.0%

Working capital€-31k+53.7%

CSV export

Annual accounts & ratios

Source: NBB · 2024

Annual accounts filed on 24-07-2025 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 ~62.1%/year over 4 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 (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	14.8%	40.9%	better than 20% of 11088 sector peers
Net result	€23k	€11k	better than 68% of 11070 sector peers
Equity	€43k	€34k	better than 57% of 11091 sector peers
Gross operating margin	€100k	€35k	better than 82% of 11060 sector peers
Staff costs	€5k	€25k	higher than 32% of 4038 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 P20

Stable position over 2021-2024 · n=3549-11088

Net result P68

Improving position over 2021-2024 · n=3540-11070

Equity P57

Improving position over 2021-2024 · n=3552-11091

Gross operating margin P82

Improving position over 2021-2024 · n=3540-11060

Describes the position versus peers, not a forecast.

EBITDA

€94k

+96.4% 21-24

Net profit

€23k

+1075.0% 21-24

Cash flow

€78k

+95.0% 21-24

Total assets

€288k

-1.1% 21-24

Equity

€43k

+118.9% 21-24

Working capital

€-31k

+53.7% 21-24

Staff costs

€5k

+432.2% 21-24

Income taxes

€7k

+501.5% 21-24

Debt

€245k

-9.7% 21-24

Debt ≤ 1y

€140k

+9.5% 21-24

Debt > 1y

€105k

-26.9% 21-24

Current ratio

0.78

+65.1% 21-24

Quick ratio

0.73

+98.2% 21-24

Solvency

14.8%

+121.3% 21-24

Debt / equity

5.74

-58.8% 21-24

ROE

54.3%

+436.8% 21-24

ROA

8.1%

+1087.9% 21-24

Interest coverage

10.12

+46.9% 21-24

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2024
Deposit	micro
Revenue	-
EBITDA	€94k
Net profit	€23k
Cash flow	€78k
Staff costs	€5k
Income taxes	€7k
Dividends	-
Total assets	€288k
Equity	€43k
Debt	€245k
of which ≤ 1y	€140k
of which > 1y	€105k
Working capital	€-31k
Employees (FTE)	-

Ratios (computed)

	2024
Current ratio	0.78
Quick ratio	0.73
Working capital ratio	-10.9%
Solvency	14.8%
Debt / equity	5.74
Long-term debt ratio	2.45
Interest coverage	10.12
Gross margin	-
Net margin	-
ROA	8.1%
ROE	54.3%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2024

Assets

Fixed assets €179k · 62.2% Current assets €109k · 37.8%

Equity & liabilities

Equity €43k · 14.9% Debt €245k · 85.2%

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	€288k
Fixed assets	21/28	€179k
Intangible fixed assets	21	€7k
Tangible fixed assets	22/27	€168k
Financial fixed assets	28	€4k
Current assets	29/58	€109k
Stocks & contracts in progress	3	€6k
Amounts receivable within one year	40/41	€40k
Cash & bank	54/58	€61k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€288k
Equity	10/15	€43k
Contributions / capital	10/11	€2k
Accumulated profits (losses)	14	€41k
Amounts payable	17/49	€245k
Amounts payable after one year	17	€105k
Amounts payable within one year	42/48	€140k
Trade debts payable within one year	44	€49k
Income statement
Gross operating margin	9900	€100k
Operating result	9901	€39k
Financial income	75	€128
Financial charges	65	€9k
Result before taxes	9903	€30k
Income taxes	67/77	€7k
Net result for the period	9904	€23k
Result to be appropriated	9905	€23k

You are seeing the latest fiscal year only. 3 prior years (figures + ratios) are in a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2024 · computed

56 / 100 Fair

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.

The full score breakdown, per-year score history and the indicative credit limit are in 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.

Liersesteenweg 1752220 Heist-op-den-Berg

Establishment units

1 location

Vlinth

Liersesteenweg 175, 2220 Heist-op-den-BergVervaardiging van keukenmeubelen

since 20212.323.588.973

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

Parcels1

Ground area1,969 m²

Buildings1

Building footprint230 m²

Volume (LiDAR)1,581 m³

Tallest building10.0 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.
12014K0788/00N000	Flanders	1,969 m²	1 · 230 m²	10.0 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

Belgian State Gazette · acts

No structured acts for this company yet

That means one of two things: the company has published no company deeds, or its deeds are still queued for reading. The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.