Summary
Conclusion
the dossier summarised in one paragraphThe file of V-FORMATION contains 2 judicial reorganisations, as published in the Belgian State Gazette. The computed 12-month bankruptcy probability is 7.3% (elevated). The 2024 annual accounts show equity of €138k and a net result of €103k. Equity is shrinking by ~3.5% per year across the filed fiscal years. Its solvency ranks better than 53% of 155 sector peers (fiscal year 2024).
Based on the State Gazette, CBE and 4 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone7.3%
Elevated
0%0,5%1,5%4%10%≥25%
Judicial reorganisation on record
+Higher-failure-rate sector
+Long track record
−
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Insolvency timeline
2 events13-10-2021
Judicial reorganisation
Plan homologation
Filing behaviour
From the deposit records, complete market-wideDeadline passed, not yet counted as missing
The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 17 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 27-06-2025, 34 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 10 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 | 27-06-2025 | 34 d early | 2025-00191664 |
| 31-12-2023 | 31-07-2024 | 07-06-2024 | 54 d early | 2024-00114195 |
| 31-12-2022 | 31-07-2023 | 27-07-2023 | 4 d early | 2023-00276664 |
| 31-12-2021 | 31-07-2022 | 28-04-2022 | 94 d early | 2022-20010575 |
| 30-06-2021 | 31-01-2022 | 17-11-2021 | 75 d early | 2021-77500193 |
| 31-12-2019 | 31-07-2020 | 05-10-2020 | 66 d late | 2020-59700401 |
| 31-12-2018 | 31-07-2019 | 30-09-2019 | 61 d late | 2019-67400517 |
| 31-12-2017 | 31-07-2018 | 31-07-2018 | on the day | 2018-41700324 |
| 31-12-2016 | 31-07-2017 | 16-08-2017 | 16 d late | 2017-43500014 |
| 31-12-2015 | 31-07-2016 | 10-08-2016 | 10 d late | 2016-41400314 |
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
1 signalEarlier reorganisation (closed)
Involved in a judicial reorganisation procedure in the past. No current open procedure.
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.
Financials
TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€103k-15.7%
Working capital€-83k+25.9%
Annual accounts & ratios
Source: NBB · 2024Annual accounts filed on 27-06-2025 with the NBB · fiscal year 2024 · verkort
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Equity: declining trend of ~3.5%/year over 3 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 77, Renting & leasing · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 25.4% | 22.3% | |
| Net result | €103k | €14k | |
| Equity | €138k | €114k | |
| Gross operating margin | €395k | €132k | |
| Staff costs | €232k | €171k |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
€158k
+7.3%
18-24
€103k
-15.7%
18-24
€151k
+5.5%
18-24
€544k
+82.0%
18-24
€138k
-
18-24
€-83k
+25.9%
18-24
0
-100.0%
18-24
€232k
+268.0%
18-24
Show 12 other metrics
€296
+130.4%
18-24
€0
-
18-24
€406k
-2.2%
18-24
€166k
-42.5%
18-24
€240k
+91.4%
18-24
0.50
-18.4%
18-24
0.50
-18.4%
18-24
25.4%
-
18-24
2.94
-
18-24
74.1%
-
18-24
18.8%
-53.7%
18-24
21.27
-39.4%
18-24
Figures by fiscal year
| Fiscal year | 2024 |
|---|---|
| Deposit | verkort |
| Revenue | - |
| EBITDA | €158k |
| Net profit | €103k |
| Cash flow | €151k |
| Staff costs | €232k |
| Income taxes | €296 |
| Dividends | €0 |
| Total assets | €544k |
| Equity | €138k |
| Debt | €406k |
| of which ≤ 1y | €166k |
| of which > 1y | €240k |
| Working capital | €-83k |
| Employees (FTE) | 0.0 |
Ratios (computed)
| 2024 | |
|---|---|
| Current ratio | 0.50 |
| Quick ratio | 0.50 |
| Working capital ratio | -15.3% |
| Solvency | 25.4% |
| Debt / equity | 2.94 |
| Long-term debt ratio | 1.73 |
| Interest coverage | 21.27 |
| Gross margin | - |
| Net margin | - |
| ROA | 18.8% |
| ROE | 74.1% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2024
Full annual accounts (25 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €544k |
| Fixed assets | 21/28 | €461k |
| Intangible fixed assets | 21 | €3k |
| Tangible fixed assets | 22/27 | €147k |
| Financial fixed assets | 28 | €311k |
| Current assets | 29/58 | €83k |
| Amounts receivable within one year | 40/41 | €78k |
| Cash & bank | 54/58 | €2k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €544k |
| Equity | 10/15 | €138k |
| Contributions / capital | 10/11 | €19k |
| Reserves | 13 | €40k |
| Accumulated profits (losses) | 14 | €80k |
| Amounts payable | 17/49 | €406k |
| Amounts payable after one year | 17 | €240k |
| Amounts payable within one year | 42/48 | €166k |
| Trade debts payable within one year | 44 | €68k |
| Income statement | ||
| Gross operating margin | 9900 | €395k |
| Operating result | 9901 | €110k |
| Financial income | 75 | €619 |
| Financial charges | 65 | €7k |
| Result before taxes | 9903 | €103k |
| Income taxes | 67/77 | €296 |
| Net result for the period | 9904 | €103k |
| Result to be appropriated | 9905 | €103k |
This table shows the latest fiscal year. 3 prior years, with figures and ratios, belong to a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2024 · computed33
/ 100
Weak
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 and an insolvency signal from the Belgian State Gazette. Indicative, not credit advice.
Directors
Directors & mandates
12 directorsCurrent directors & mandates
-
BV Professional Fun ProvidersLegal entityDirector· perm. rep.: Dieter De VosState Gazette act 25151931 (01-12-2025)Current01-07-2025 → present
-
Eagle EyeLegal entityDirector· perm. rep.: De Vreese BenediktState Gazette act 20365764 (29-12-2020)Current29-12-2020 → present
3 events
- 29-12-2020 Resigned· Director
- 29-12-2020 Appointed· Director
- 23-03-2016 Appointed· Manager
Historic, not recently confirmed (1)
These mandates remain open in the register but have not been confirmed by a new act in over six years. They do not count as active directors.
-
Not recently confirmedlast confirmed in an act from 2013
Former directors (9)
-
BV Eagle EyeLegal entityDirector· perm. rep.: Benedikt De VreeseState Gazette act 25151931 (01-12-2025)Former- → 01-07-2025
-
Former23-03-2016 → 31-12-2019
2 events
- 31-12-2019 Resigned· Manager
- 23-03-2016 Appointed· Manager
-
Former- → 01-06-2018
-
Former01-02-2015 → 30-04-2018
2 events
- 30-04-2018 Resigned· Manager
- 01-02-2015 Appointed· Manager
-
Former- → 23-03-2016
4 further former directors in the mandate history. Available in Kantoor S.
See plans →
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 lease van sport- en recreatieartikelen(77210) |
| Legal form | Private limited company(610) |
| Incorporation | 23-08-2006 |
| Status | Active |
| Postal code | 9810 |
| First BS signal | 19-10-2020 |
| Latest BS signal | 13-10-2021 |
Structure & network
Connections & network
3 connected companiesGroup structure
Sits on the board · 2 subsidiaries · 1 location
Control→
Sits on the board · 1 subsidiary · 1 location
Control→
Network connections
Shared corporate director
→
Connections derived from shared directors, addresses, shareholders and group structure in the Belgian State Gazette.
Ownership & control
2 partiesControl over this companysits on this company's board2
controls
V-FORMATIONBE 0883.164.214
Each band states what its claims rest on. A board seat is influence over the board, not ownership. Court mandates (receiver, interim administrator) and liquidation mandates do not link companies and are therefore absent here; they belong under Directors & mandates.
Locations & real estate
Registered office
from the Crossroads BankCannot 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.
Hauwenhauwstraat 19810 Nazareth-De PinteEstablishment units
1 locationV-Formation
since 20062.156.704.532
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area2,723 m²
Buildings1
Building footprint867 m²
Volume (LiDAR)5,193 m³
Tallest building7.1 m · ±2 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels 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. |
|---|---|---|---|---|
| 44018A0019/00L000 | Flanders | 2,723 m² | 1 · 867 m² | 7.1 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
2 events from the State Gazette13-10-2021
Judicial reorganisation
Plan homologation
Full insolvency chronology
The full chronology lists every recorded event with its date, the competent court and the appointed liquidator or administrator. It answers at which stage the proceedings stand and whether they are still running.
We hold 1 further earlier event in this file, covering 14-10-2020 to 05-10-2021.
Available in Kantoor S.
See plans →
Time machine: BS events + macro context
2020-2026Macro context
2020-Q2/Q3 COVID lockdown
2022 energy crisis
2023-2024 ECB rate hikes
Legend
Bankruptcy
Interim / reorg
KBO event
Belgisch Staatsblad · acts
13 acts Address history · 3
24-08-2021
v3.2
11-04-2019
v3.2
22-03-2013
v3.2
All acts · 13
updated 8 months ago
2025
01-12-2025 1 director appointed, 1 resigning
2021
09-12-2021 Publication in the Belgian Official Gazette, Minor change
Summary:
v3.2
24-08-2021 Registered office moved from Evergem to Mariakerke
2020
29-12-2020 1 director appointed, 1 resigning
03-02-2020 Rik De Lannoy resigns as manager
2019
23-05-2019 2 resigning
11-04-2019 Registered office moved from Gent to Evergem
2016
18-08-2016 2 directors appointed, 2 resigning
- De Lannoy Rik, Zaakvoerder
- De Vreese Benedikt, Zaakvoerder
- De Lannoy Rik, Zaakvoerder
- De Vreese Benedikt, Zaakvoerder
Summary:
v3.2
09-03-2016 2 resigning
2015
17-07-2015 Publication in the Belgian Official Gazette, Minor change
Summary:
v3.2
13-03-2015 2 directors appointed, 1 resigning
- Gilles Van Der Kreeft, Zaakvoerder
- Kevin Delen, Zaakvoerder
- Thomas Demeyer, Zaakvoerder
Summary:
v3.2
2013
22-03-2013 Registered office moved from Knesselare to Wondelgem
- Grote Dries 4a, 9910 Knesselare → Industrieweg 122, 9032 Wondelgem
Summary:
v3.2
2006
04-09-2006 Incorporation of a new BV
Summary:
oprichting
Analysis
Financial profile
5 of 5 axes measured56
/ 100
Mixed profile: strong on profitability, weaker on solvency.
All 5 axes are computed from data Checked has read.
Health
33
Profitability
100
Solvency
27
Growth
58
Stability
60
Credit advice
verdict per customer and amountSimilar
Similar companies
Comparable size, same sectorBE 0897.981.359 · Schoten
BE 0800.189.820 · Koksijde
BE 0790.396.184 · Lokeren
BE 0765.731.559 · Knokke-Heist
BE 0765.367.711 · Peer
We hold annual accounts for 65 of the 977 companies in this sector. 47 of them are within a factor 10 of this company's equity.
Company registry
Company registry (CBE)
Crossroads BankActivities
Verhuur en lease van sport- en recreatieartikelen77210Verhuur en lease van sport- en recreatieartikelen77210Overige activiteiten i.v.m. de sportbeoefening92623Verhuur van sport- en kampeerartikelen71406Activiteiten van sportclubs en -bonden92621Overige activiteiten i.v.m. recreatie92724Overige sportactiviteiten, n.e.g.93199Overige sportactiviteiten, neg93199Overige recreatie- en ontspanningsactiviteiten, n.e.g.93299Overige recreatie- en ontspanningsactiviteiten, neg93299
Primary activity highlighted.
Names & trade names
| Legal nameNL | V-FORMATION |
Registered office
Hauwenhauwstraat 1
9810 Nazareth-De Pinte, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.