VnM Projects
ActiveSummary
VnM Projects has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10k and a net result of €16k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 15% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability91▲+31
Solvency36▲+19
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity ample (current ratio 2.25 against 3.38 in 2024; short-term debt: 37% of total assets), but 89.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
10.9%
Return on assets
17.4%
Age of the figures
9 mo
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
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 27965 sector peers (2025).
NBB · sector comparisonPosition among 27965 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 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
31 d late
2024
27 d late
2023
29 d late
2022
53 d late
2021
31 d late
2020
1 d early
2019
14 d late
← 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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€10k
2024 · €-6k
2018: €23k
2019: €30k▲ +30.0% vs 2018
2020: €38k▲ +29.3% vs 2019highest in 8 years
2021: €18k▼ -54.2% vs 2020
2022: €18k▲ +2.0% vs 2021
2023: €-848▼ -105% vs 2022
2024: €-6k▼ -602% vs 2023lowest in 8 years
2025: €10k▲ +267% vs 2024
2018 → 2025
Total assets
€91k▲ 23.5%
2024 · €74k
2018: €123k
2019: €199k▲ +62.6% vs 2018
2020: €267k▲ +33.7% vs 2019highest in 8 years
2021: €174k▼ -34.9% vs 2020
2022: €116k▼ -33.0% vs 2021
2023: €121k▲ +4.4% vs 2022
2024: €74k▼ -39.3% vs 2023lowest in 8 years
2025: €91k▲ +23.5% vs 2024
2018 → 2025
Net result
€16k
2024 · €-5k
2018: €4k
2019: €7k▲ +55.1% vs 2018
2020: €9k▲ +27.2% vs 2019
2021: €-21k▼ -339% vs 2020lowest in 8 years
2022: €350▲ +102% vs 2021
2023: €-19k▼ -5476% vs 2022
2024: €-5k▲ +72.9% vs 2023
2025: €16k▲ +411% vs 2024highest in 8 years
2018 → 2025
Working capital
€42k▲ 4.3%
2024 · €40k
2018: €4k
2019: €-3k▼ -181% vs 2018
2020: €71▲ +102% vs 2019
2021: €-15k▼ -21343% vs 2020lowest in 8 years
2022: €-5k▲ +65.3% vs 2021
2023: €39k▲ +846% vs 2022
2024: €40k▲ +2.9% vs 2023
2025: €42k▲ +4.3% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€18k-€18k▲ 2.0%€-848€-6k▼ 602%€10k
2021: €18k
2022: €18k▲ +2.0% vs 2021highest in 5 years
2023: €-848▼ -105% vs 2022
2024: €-6k▼ -602% vs 2023lowest in 5 years
2025: €10k▲ +267% vs 2024
Operating result€-16k-€3k€-17k€-4k▲ 74.3%€16k
2021: €-16k
2022: €3k▲ +119% vs 2021
2023: €-17k▼ -682% vs 2022lowest in 5 years
2024: €-4k▲ +74.3% vs 2023
2025: €16k▲ +475% vs 2024highest in 5 years
Net result€-21k-€350€-19k€-5k▲ 72.9%€16k
2021: €-21klowest in 5 years
2022: €350▲ +102% vs 2021
2023: €-19k▼ -5476% vs 2022
2024: €-5k▲ +72.9% vs 2023
2025: €16k▲ +411% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €16k after a loss of €4k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €91k
Fixed assets
€15k ▼ 7.4%
Current assets
€76k ▲ 32.4%
Equity and liabilities €91k
Equity
€10k
Debt
€81k
Debt finances 89.1% of the balance-sheet total.
Key figures and ratios
EBITDA
€17k▲
2024 · €9k
Cash flow
€17k▲
2024 · €9k
Current ratio
2.25▼
2024 · 3.38
Debt to equity
8.18▲
2024 · -13.38
ROE
160.0%
ROA
17.4%▲
2024 · -6.9%
Interest coverage
47.44▲
2024 · 12.28
Debt ≤ 1 year
€34k▲
2024 · €17k
Debt > 1 year
€47k▼
2024 · €63k
Staff costs
€400▼
2024 · €73k
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 · 41 lines
Balance sheet
Code20242025
Assets
Total assets20/58€74k€91k▲
Fixed assets21/28€17k€15k▼
Tangible fixed assets22/27€17k€15k▼
Plant, machinery and equipment23€1k€4▼
Furniture and vehicles24€15k€15k▼
Current assets29/58€57k€76k▲
Amounts receivable within one year40/41€28k€76k▲
Trade receivables40€26k€71k▲
Other amounts receivable41€2k€5k▲
Cash at bank and in hand54/58€30k-
Equity and liabilities
Total equity and liabilities10/49€74k€91k▲
Equity10/15€-6k€10k▲
Contributions10/11€6k€6k=
Reserves13€13k€13k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€11k€11k=
Profit (loss) carried forward14€-25k€-9k▲
Amounts payable17/49€80k€81k▲
Amounts payable after more than one year17€63k€47k▼
Financial debts170/4€63k€47k▼
Amounts payable within one year42/48€17k€34k▲
Financial debts43-€10k
Credit institutions430/8-€10k
Trade debts44€17k€24k▲
Suppliers440/4€17k€24k▲
Taxes, remuneration and social security45€23-
Remuneration and social security454/9€23-
Income statement
Code20242025
Non-recurring operating income76A€23k-
Remuneration, social security and pensions62€73k€400▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€1k▼
Other operating charges640/8€58€508▲
Gross operating margin9900€83k€18k▼
Operating profit (loss)9901€-4k€16k▲
Financial charges65/66B€772€368▼
Recurring financial charges65€772€368▼
Profit (loss) for the period before taxes9903€-5k€16k▲
Profit (loss) for the period9904€-5k€16k▲
Profit (loss) for the period to be appropriated9905€-5k€16k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-25k€-9k▲
Profit (loss) brought forward from the previous period14P€-20k€-25k▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €23k | - | - |
| Remuneration, social security and pensions62 | €290k | €214k | €186k | €73k | €400 | ▼ 99.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €45k | €39k | €23k | €14k | €1k | ▼ 91.2% |
| Other operating charges640/8 | €4k | €137 | €170 | €58 | €508 | ▲ 776% |
| Non-recurring operating charges66A | - | - | €28k | - | - | - |
| Gross operating margin9900 | €323k | €256k | €219k | €83k | €18k | ▼ 77.8% |
| Operating profit (loss)9901 | €-16k | €3k | €-17k | €-4k | €16k | ▲ 475% |
| Financial income75/76B | €110 | €4 | €1 | - | - | - |
| Recurring financial income75 | €110 | €4 | €1 | - | - | - |
| Financial charges65/66B | €5k | €2k | €2k | €772 | €368 | ▼ 52.3% |
| Recurring financial charges65 | €5k | €2k | €2k | €772 | €368 | ▼ 52.3% |
| Profit (loss) for the period before taxes9903 | €-21k | €951 | €-19k | €-5k | €16k | ▲ 411% |
| Income taxes67/77 | €228 | €601 | - | - | - | - |
| Profit (loss) for the period9904 | €-21k | €350 | €-19k | €-5k | €16k | ▲ 411% |
| Transfer from tax-exempt reserves789 | - | - | €4k | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €-21k | €350 | €-15k | €-5k | €16k | ▲ 411% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €174k | €116k | €121k | €74k | €91k | ▲ 23.5% |
| Fixed assets21/28 | €82k | €73k | €31k | €17k | €15k | ▼ 7.4% |
| Tangible fixed assets22/27 | €82k | €73k | €31k | €17k | €15k | ▼ 7.4% |
| Plant, machinery and equipment23 | €15k | €8k | €2k | €1k | €4 | ▼ 99.6% |
| Furniture and vehicles24 | €13k | €65k | €29k | €15k | €15k | ▼ 0.5% |
| Leasing and similar rights25 | €55k | - | - | - | - | - |
| Current assets29/58 | €91k | €44k | €90k | €57k | €76k | ▲ 32.4% |
| Stocks and contracts in progress3 | €29k | - | - | - | - | - |
| Stocks30/36 | €29k | - | - | - | - | - |
| Amounts receivable within one year40/41 | €41k | €44k | €90k | €28k | €76k | ▲ 174% |
| Trade receivables40 | €34k | €2k | €89k | €26k | €71k | ▲ 176% |
| Other amounts receivable41 | €7k | €42k | €1k | €2k | €5k | ▲ 152% |
| Cash at bank and in hand54/58 | €8k | - | - | €30k | - | - |
| Deferred charges and accrued income490/1 | €13k | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €174k | €116k | €121k | €74k | €91k | ▲ 23.5% |
| Equity10/15 | €18k | €18k | €-848 | €-6k | €10k | ▲ 267% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €17k | €17k | €13k | €13k | €13k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Tax-exempt reserves132 | €4k | €4k | - | - | - | - |
| Distributable reserves133 | €11k | €11k | €11k | €11k | €11k | = |
| Profit (loss) carried forward14 | €-5k | €-5k | €-20k | €-25k | €-9k | ▲ 62.7% |
| Amounts payable17/49 | €156k | €98k | €122k | €80k | €81k | ▲ 1.8% |
| Amounts payable after more than one year17 | €49k | €49k | €71k | €63k | €47k | ▼ 24.5% |
| Financial debts170/4 | €49k | €49k | €48k | €63k | €47k | ▼ 24.5% |
| Trade debts175 | - | - | €23k | - | - | - |
| Amounts payable within one year42/48 | €107k | €49k | €51k | €17k | €34k | ▲ 99.2% |
| Current portion of amounts payable after more than one year42 | €34k | - | - | - | - | - |
| Financial debts43 | - | €7k | €10k | - | €10k | - |
| Credit institutions430/8 | - | €7k | €10k | - | €10k | - |
| Trade debts44 | €60k | €25k | €20k | €17k | €24k | ▲ 40.8% |
| Suppliers440/4 | €60k | €25k | €20k | €17k | €24k | ▲ 40.8% |
| Taxes, remuneration and social security45 | €10k | €17k | €4k | €23 | - | - |
| Taxes450/3 | €628 | €17k | - | - | - | - |
| Remuneration and social security454/9 | €10k | - | €4k | €23 | - | - |
| Other amounts payable47/48 | €2k | €362 | €17k | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-21k | €350 | €-19k | €-5k | €16k | ▲ 411% |
| + Depreciation and write-downs630 | €45k | €39k | €23k | €14k | €1k | ▼ 91.2% |
| Operating cash flow (approximation) | €24k | €40k | €4k | €9k | €17k | ▲ 96.2% |
| Investment in fixed assets (approximation) | - | €-30k | €18k | €1k | €0 | ▼ 100% |
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
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
21-08
State Gazette act
Board meeting · Director resignation
Share transfer · Net-asset statement · Isabelle Mostaert
2025
31-12
Financial
Back to profitnet €16k
Net result €16k after 2 loss-making years.
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
22-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 53 days late
2022
31-12
Financial
Back to profitnet €350
Net result €350 after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Weakest financial yearnet €-21k
Net result drops to €-21k, the lowest in the series; recovery starts the following year.
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
14-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 14 days late
2019
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 28 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Rotselaar · 1 establishment unit since 2015
Ground area
1.3 ha
Building footprint
1,670 m²
Volume, LiDAR
12,921 m³
Parcel 24121E0122/00K000, Flanders · tallest building 14.4 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Perfect Building
since 20152.241.037.421
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24121E0122/00K000 | Flanders | 1.3 ha | 1 · 1,670 m² | 14.4 m · 2 fl. |
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.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 296 EUR awarded| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 296 EUR | 0 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 7,289 companies in sector 43350 we hold annual accounts for 2,362. 1,412 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded20-02-2015
Fiscal year end31-12
Activities, NACEBEL 2025
43350Other building finishing work
42110Construction of roads and motorways
43333Wallpapering and laying of floor and wall coverings in other materials
43990Other specialised construction activities
Contact
E-mail
info@vnm-projects.be
Phone
016 79 07 47
Scores and ratios are computed by Checked and are not a credit decision.