VMH CONSTRUCT
Bankruptcy closedInactive since 09-09-2026; last annual accounts for fiscal year 2022.
Summary
VMH CONSTRUCT was declared bankrupt on 14-11-2023 (Ondernemingsrechtbank Gent, afdeling Kortrijk); the bankruptcy was closed by liquidation by judgment of 08-09-2026, published in the Belgian State Gazette on 14-09-2026.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 31-08-2023, 31 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.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
31 d late
2021
80 d early
2020
89 d late
2019
62 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 4 accounts on average 26 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
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Financials · fiscal year 2022, abbreviated schema
Equity
-€349,918▼ 10.9%
2021 · -€315,455
Total assets
€1.5m▼ 40.6%
2021 · €2.5m
Net result
-€34,462
2021 · €122,914
Working capital
-€332,761▼ 12.1%
2021 · -€296,945
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20182019202020212022
Operating result€130,972--€57,647-€650,435▼ 1,028%€187,455€21,749▼ 88.4%
Net result€105,053--€82,737-€717,079▼ 767%€122,914-€34,462
Equity€361,447-€278,709▼ 22.9%-€438,370-€315,455▲ 28.0%-€349,918▼ 10.9%
Total assets€2.2m-€2.6m▲ 20.8%€2.6m▼ 1.7%€2.5m▼ 4.3%€1.5m▼ 40.6%
Debt€1.8m-€2.4m▲ 29.4%€3.0m▲ 28.5%€2.8m▼ 7.8%€1.8m▼ 34.8%
Working capital€333,565-€712,723▲ 114%-€386,833-€296,945▲ 23.2%-€332,761▼ 12.1%
Staff (FTE)7.5-8.4▲ 12.0%5.3▼ 36.9%4.3▼ 18.9%2▼ 53.5%
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 2022; 2022 is 88% below 2021.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €1.5m
Fixed assets
€113,204 ▼ 18.8%
Current assets
€1.4m ▼ 41.9%
Key figures and ratios
EBITDA
€46,026▼
2021 · €216,424
Cash flow
-€10,185▼
2021 · €151,883
Solvency
-23.8%▼
2021 · -12.7%
Current ratio
0.80▼
2021 · 0.89
Quick ratio
0.57▲
2021 · 0.33
Debt to equity
-5.21▲
2021 · -8.86
ROA
-2.3%▼
2021 · 5.0%
Interest coverage
0.80▼
2021 · 3.24
Debt ≤ 1 year
€1.7m▼
2021 · €2.6m
Debt > 1 year
€130,360▼
2021 · €157,892
Income taxes
€305▼
2021 · €401
Staff costs
€68,981▼
2021 · €131,696
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €1,446 | €100 | ▼ 93.1% |
| Remuneration, social security and pensions62 | - | - | - | €131,696 | €68,981 | ▼ 47.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €82,674 | €58,688 | €43,504 | €28,969 | €24,277 | ▼ 16.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €3,180 | - |
| Other operating charges640/8 | - | - | - | €19,948 | €6,283 | ▼ 68.5% |
| Non-recurring operating charges66A | - | - | - | €11,635 | €0 | ▼ 100% |
| Gross operating margin9900 | €744,506 | €516,144 | -€376,545 | €379,703 | €124,470 | ▼ 67.2% |
| Operating profit (loss)9901 | €130,972 | -€57,647 | -€650,435 | €187,455 | €21,749 | ▼ 88.4% |
| Financial income75/76B | - | - | - | €2,560 | €1,427 | ▼ 44.2% |
| Recurring financial income75 | €48,119 | €8,892 | €926 | €2,560 | €1,427 | ▼ 44.2% |
| Financial charges65/66B | - | - | - | €66,699 | €57,333 | ▼ 14.0% |
| Recurring financial charges65 | €17,579 | €33,275 | €66,669 | €66,699 | €57,333 | ▼ 14.0% |
| Profit (loss) for the period before taxes9903 | €165,251 | -€82,030 | -€716,178 | €123,315 | -€34,157 | ▼ 128% |
| Income taxes67/77 | €60,198 | €707 | €900 | €401 | €305 | ▼ 24.0% |
| Profit (loss) for the period9904 | €105,053 | -€82,737 | -€717,079 | €122,914 | -€34,462 | ▼ 128% |
| Transfer from tax-exempt reserves789 | - | - | - | €160 | €0 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | €105,053 | -€82,737 | -€717,079 | €123,074 | -€34,462 | ▼ 128% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.2m | €2.6m | €2.6m | €2.5m | €1.5m | ▼ 40.6% |
| Fixed assets21/28 | €257,987 | €222,469 | €179,986 | €139,381 | €113,204 | ▼ 18.8% |
| Tangible fixed assets22/27 | €249,081 | €213,974 | €171,490 | €130,886 | €106,609 | ▼ 18.5% |
| Land and buildings22 | - | - | - | €129,938 | €106,250 | ▼ 18.2% |
| Plant, machinery and equipment23 | - | - | - | €500 | €250 | ▼ 50.0% |
| Furniture and vehicles24 | - | - | - | €449 | €109 | ▼ 75.8% |
| Financial fixed assets28 | €8,906 | €8,495 | €8,495 | €8,495 | €6,595 | ▼ 22.4% |
| Current assets29/58 | €1.9m | €2.4m | €2.4m | €2.3m | €1.4m | ▼ 41.9% |
| Amounts receivable after more than one year29 | - | - | - | €8,000 | €8,000 | = |
| Other amounts receivable291 | - | - | - | €8,000 | €8,000 | = |
| Stocks and contracts in progress3 | €394,172 | €898,450 | €1.4m | €1.5m | €389,616 | ▼ 73.4% |
| Stocks30/36 | - | - | - | €1.5m | €389,616 | ▼ 73.4% |
| Amounts receivable within one year40/41 | €1.2m | €1.2m | €735,250 | €653,597 | €950,090 | ▲ 45.4% |
| Trade receivables40 | - | - | - | €651,341 | €948,275 | ▲ 45.6% |
| Other amounts receivable41 | - | - | - | €2,256 | €1,815 | ▼ 19.5% |
| Current investments50/53 | €10,943 | €10,944 | €64 | €64 | €64 | = |
| Cash at bank and in hand54/58 | €256,602 | €272,903 | €232,906 | €210,272 | €9,640 | ▼ 95.4% |
| Deferred charges and accrued income490/1 | - | - | - | €4,403 | €2,373 | ▼ 46.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.2m | €2.6m | €2.6m | €2.5m | €1.5m | ▼ 40.6% |
| Equity10/15 | €361,447 | €278,709 | -€438,370 | -€315,455 | -€349,918 | ▼ 10.9% |
| Contributions10/11 | €20,000 | €20,000 | - | €20,000 | €20,000 | = |
| Reserves13 | €341,447 | €279,978 | €279,978 | €279,818 | €279,818 | = |
| Non-distributable reserves130/1 | - | - | - | €2,000 | €0 | ▼ 100% |
| Reserves not available under the articles1311 | - | - | - | €2,000 | €0 | ▼ 100% |
| Tax-exempt reserves132 | - | - | - | €0 | - | - |
| Distributable reserves133 | - | - | - | €277,818 | €279,818 | ▲ 0.7% |
| Profit (loss) carried forward14 | - | -€21,268 | -€738,347 | -€615,273 | -€649,735 | ▼ 5.6% |
| Amounts payable17/49 | €1.8m | €2.4m | €3.0m | €2.8m | €1.8m | ▼ 34.8% |
| Amounts payable after more than one year17 | €213,157 | €277,960 | €231,267 | €157,892 | €130,360 | ▼ 17.4% |
| Financial debts170/4 | - | - | - | €157,892 | €130,360 | ▼ 17.4% |
| Amounts payable within one year42/48 | €1.6m | €1.7m | €2.8m | €2.6m | €1.7m | ▼ 35.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €79,931 | €44,363 | ▼ 44.5% |
| Financial debts43 | - | - | - | €1.8m | €661,079 | ▼ 63.3% |
| Credit institutions430/8 | - | - | - | €1.8m | €661,079 | ▼ 63.3% |
| Trade debts44 | €1.1m | €786,351 | €608,501 | €407,464 | €360,533 | ▼ 11.5% |
| Suppliers440/4 | - | - | - | €407,464 | €360,533 | ▼ 11.5% |
| Advances received on contracts in progress46 | - | - | - | €0 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €29,069 | €39,168 | ▲ 34.7% |
| Taxes450/3 | - | - | - | €14,127 | €14,563 | ▲ 3.1% |
| Remuneration and social security454/9 | - | - | - | €14,942 | €24,605 | ▲ 64.7% |
| Other amounts payable47/48 | - | - | - | €320,591 | €587,402 | ▲ 83.2% |
| Accrued charges and deferred income492/3 | - | - | - | €0 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €105,053 | -€82,737 | -€717,079 | €122,914 | -€34,462 | ▼ 128% |
| + Depreciation and write-downs630 | €82,674 | €58,688 | €43,504 | €28,969 | €24,277 | ▼ 16.2% |
| Operating cash flow (approximation) | €187,727 | -€24,050 | -€673,574 | €151,883 | -€10,185 | ▼ 107% |
| Investment in fixed assets (approximation) | - | -€23,170 | -€1,021 | €11,635 | €1,900 | ▼ 83.7% |
| Change in cash | - | €16,301 | -€39,997 | -€22,634 | -€200,632 | ▼ 786% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2026
14-09
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Gent, afdeling Kortrijk · event 08-09-2026
2023
20-11
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Kortrijk · event 14-11-2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
12-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €122,914
Net result €122,914 after 2 loss-making years.
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 89 days late
2020
31-12
Financial
Weakest financial yearnet -€717,079
Net result drops to -€717,079, the lowest in the series.
01-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 62 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 29 days late
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
2016
29-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
31-07
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
2014
20-08
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 20 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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, Harelbeke
Ground area
99 m²
Building footprint
95 m²
Volume, LiDAR
24 m³
Parcel 34013A0854/00E000, Flanders · tallest building 4.9 m. Linked by address, not a title deed.
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34013A0854/00E000 | Flanders | 99 m² | 1 · 95 m² | 4.9 m |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | FREDERIQUE VANRYCKEGHEM GUIDO GEZELLE-
STRAAT 10, 8790 WAREGEM |
14-11-2023 → 08-09-2026 |
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2021 list no shareholders, and no other source names one.
Holdings 1
-
1%
According to the 2021 annual accounts of VMH CONSTRUCT and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.