VQTM
ActiveThe computed 12-month bankruptcy probability of VQTM is 1.8% (moderate). The 2025 annual accounts show negative equity (€-9k) and a net result of €-3k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 12642 sector peers (fiscal year 2025). The company has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
22
/ 100
Critical
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability22▼-7
Solvency0▼-4
Growth32=
Track record100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.68 against 0.87 in 2024; short-term debt: 105.6% and cash: 2.3% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Nine 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 41
Relative position
BE, all sectors
reference
Sector 41
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-44%
Return on assets
-14.7%
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 · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-9k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-08-2026, 14 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
14 d late
2024
42 d early
2023
10 d late
2022
30 d late
2021
14 d late
2020
23 d late
2019
24 d late
← before the deadline
after the deadline →
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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€150k
EBIT margin
-1.1%
Net result
€-3k▼ 30.8%
2024 · €-2k
2018: €17k
2019: €-1k
2020: €2k
2021: €-2k
2022: €13k
2023: €1k
2024: €-2k
2018 → 2025
Working capital
€-7k▼ 143%
2024 · €-3k
2018: €709
2019: €-252
2020: €-2k
2021: €-2k
2022: €11k
2023: €4k
2024: €-3k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€150k-
Equity€-343-€12k€-4k€-6k▼ 61.9%€-9k▼ 50.0%
Operating result€-2k-€19k€6k▼ 69.3%€2k▼ 60.2%€2k▼ 19.7%
Net result€-2k-€13k€1k▼ 88.7%€-2k€-3k▼ 30.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 20% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €21k
Fixed assets
€6k▼ 42.5%
Current assets
€15k▼ 20.8%
Key figures and ratios
EBITDA
€5k▲
2024 · €5k
Cash flow
€372▼
2024 · €568
Solvency
-44.0%▼
2024 · -21.0%
Current ratio
0.68▼
2024 · 0.87
Quick ratio
0.46▼
2024 · 0.87
Debt / equity
-3.27▲
2024 · -5.76
ROA
-14.7%▼
2024 · -8.0%
Interest coverage
2.53▲
2024 · 2.44
Debt
€30k▼
2024 · €35k
Debt ≤ 1 year
€22k▲
2024 · €21k
Debt > 1 year
€8k▼
2024 · €13k
Staff costs
€59k▲
2024 · €57k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€29k€21k▼
Fixed assets21/28€10k€6k▼
Tangible fixed assets22/27€8k€5k▼
Plant, machinery and equipment23€1k€385▼
Furniture and vehicles24€7k€5k▼
Financial fixed assets28€2k€900▼
Current assets29/58€19k€15k▼
Stocks and contracts in progress3-€5k
Stocks30/36-€5k
Amounts receivable within one year40/41€9k€10k▲
Trade receivables40€4k€7k▲
Other amounts receivable41€5k€3k▼
Cash at bank and in hand54/58€10k€469▼
Deferred charges and accrued income490/1-€100
Equity and liabilities
Total equity and liabilities10/49€29k€21k▼
Equity10/15€-6k€-9k▼
Contributions10/11€1k€1k=
Profit (loss) carried forward14€-7k€-10k▼
Amounts payable17/49€35k€30k▼
Amounts payable after more than one year17€13k€8k▼
Financial debts170/4€13k€8k▼
Amounts payable within one year42/48€21k€22k▲
Current portion of amounts payable after more than one year42€5k€5k▲
Trade debts44€10k€7k▼
Suppliers440/4€10k€7k▼
Taxes, remuneration and social security45€7k€9k▲
Taxes450/3€3k€5k▲
Remuneration and social security454/9€4k€4k▼
Income statement
Code20242025
Non-recurring operating income76A€0€76▲
Goods, raw materials, services and sundry goods60/61€178k€146k▼
Remuneration, social security and pensions62€57k€59k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€3k▲
Other operating charges640/8€888€1k▲
Non-recurring operating charges66A€600€5k▲
Gross operating margin9900€63k€70k▲
Operating profit (loss)9901€2k€2k▼
Financial charges65/66B€2k€5k▲
Recurring financial charges65€2k€2k▼
Non-recurring financial charges66B-€3k
Profit (loss) for the period before taxes9903€209€-3k▼
Income taxes67/77€3k-
Profit (loss) for the period9904€-2k€-3k▼
Profit (loss) for the period to be appropriated9905€-2k€-3k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-7k€-10k▼
Profit (loss) brought forward from the previous period14P€-5k€-7k▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
14-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 14 days late
2025
31-12
Financial
Weakest financial yearnet €-3k
Net result drops to €-3k, the lowest in the series.
19-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
10-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 10 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-12
Financial
Back to profitnet €13k
Net result €13k after one loss-making year.
14-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 14 days late
2021
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 23 days late
2020
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
24-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 24 days late
2019
01-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 1 day late
2018
19-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
03-04
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
8 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, Courcelles · 2 establishment units since 2020
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.
Rue Depasse(CO) 76180 CourcellesGround area
394 m²
Building footprint
57 m²
Volume, LiDAR
510 m³
Parcel 52322B0743/00P004, Wallonia · tallest building 11.1 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
V.Q. Construction
since 20202.303.950.829
Chez Raph et Rachel
since 20202.303.950.928
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52322B0743/00P004 | Wallonia | 394 m² | 1 · 57 m² | 11.1 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Recognised contractor
12 categoriesVQTM SRL43430
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JIMMY MARTENS ALGEMENE ONDERNEMING
BE 1000.474.034
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ADIF CONSTRUCT
BE 0466.714.906
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VITALY
BE 0792.715.276
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Of 29,808 companies in sector 41001 we hold annual accounts for 16,038. 10,054 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded18-03-2004
Fiscal year end31-12
Activities, NACEBEL
41001General construction of residential buildings
69202Legal and accounting activities
69209Other tax advisory services
74121
69201Accountants
69203Activities of company auditors
74122
74124
Sources
Crossroads Bank for EnterprisesNational Bank · 22 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.