Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
-
Tight liquidity NBB
Cash and receivables cover 25 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
VHSM from Wevelgem, company number BE0750543933, closed financial year 2025 with a result of € 23,353 after tax. For that financial year VHSM recorded a gross margin of € 47,350 and equity of € -378. Compared with financial year 2024, the result moved from € -5,226 to € 23,353. Profitable, and profit is growing. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on August 31, 2026.
€ -378
▲ € 23,353 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 23,353
▲ still € 5,226 loss in 2024
Profit after tax over the fiscal year.
€ 7,013
▼ 26% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -2,378.
People and assets in 2025
≈ 1
No payroll staff. One director, so that person most likely runs the business.
€ 73,117
▲ 108% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 32,020
▲ 33% vs 2024
€ 15,408 is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 26,727
▼ 23% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 1,374
▼ 87% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 116,662 | € 42,716 | € 19,957 | € 47,350 | ▲ 137% |
| Profit after taxes | € -37,726 | € 6,684 | € -5,226 | € 23,353 | ▲ € 28,579 |
| Equity | € -25,190 | € -18,506 | € -23,731 | € -378 | ▲ € 23,353 |
| Total debts | € 129,927 | € 91,248 | € 80,130 | € 93,145 | ▲ 16% |
| Cash | € 21,444 | € 5,731 | € 9,506 | € 7,013 | ▼ 26% |
| Retained profit | € -27,190 | € -20,506 | € -25,731 | € -2,378 | ▲ € 23,353 |
| Bank debt | € 81,139 | € 38,275 | € 24,042 | € 32,020 | ▲ 33% |
| Balance sheet total | € 104,738 | € 72,743 | € 56,399 | € 92,767 | ▲ 64% |
Key figures of VHSM, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to VHSM?
What happened at VHSM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 23,353. filed late Source: NBB ↗
- New establishment in Wevelgem. KBO
- Vahe Mukoyan became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 37,726 loss in 2022 to € 23,353 profit in 2025.
Paid € 2,840 in corporate taxes since 2022.
Best year ever: 2025, with € 23,353 profit.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Directors
According to the 2025 annual accounts
Vahe Mukoyan
Director
since 2020
Establishments
Establishment units
Physical locations of this company
Moerstraat 58
8560 Wevelgem
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0750.543.933
- VAT number
- BE 0750.543.933
- Registered office
- Moerstraat 58, 8560 Wevelgem
- Names & denominations
- VHSM
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 10 July 2020
- Peppol
- Active · Active since 21 Nov 2025
- Activities · NACE
Goederenvervoer over de weg
Detailhandel in auto's en lichte bestelwagens (<= 3,5 ton)
Diensten in verband met vervoer te land
Postdiensten in het kader van de universele dienstverplichting
Groothandel in auto's en lichte bestelwagens (<= 3,5 ton)