Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Negative equity NBB
More debt than assets in 2 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2025 and 2026.
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Tight liquidity NBB
Cash and receivables cover 22 % of short-term debt in 2026; threshold 65 %.
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Busy address KBO
31 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2026
VH Development from Ukkel, company number BE0778730945, closed financial year 2026 with a result of € -324,370 after tax. For that financial year VH Development recorded a gross margin of € 5,435 and equity of € -388,776. Compared with financial year 2025, the result moved from € -67,640 to € -324,370. The company made a loss. 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 October 14, 2026.
€ -388,776
▼ € 324,370 vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -324,370
▼ 380 % more loss than in 2025
Profit after tax over the fiscal year.
€ 646,734
▲ 138% vs 2025
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -444,776.
People and assets in 2026
0
Average over the fiscal year, from the social balance sheet.
Debts at end 2026
€ 5.2 million
▲ 8% vs 2025
Loans from banks and other lenders, long and short.
€ 407,202
▲ 16% vs 2025
Supplier invoices still open on the last day of the fiscal year.
€ 216,859
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2023 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Gross margin | € -33,064 | € -8,170 | € -25,114 | € 5,435 | ▲ € 30,549 |
| Profit after taxes | € -39,583 | € -13,184 | € -67,640 | € -324,370 | ▼ € 256,730 |
| Equity | € 16,417 | € 3,233 | € -64,407 | € -388,776 | ▼ € 324,370 |
| Total debts | € 4,680,629 | € 4,750,562 | € 5,639,432 | € 9,045,598 | ▲ 60% |
| Cash | € 229,114 | € 45,449 | € 271,636 | € 646,734 | ▲ 138% |
| Retained profit | € -39,583 | € -52,767 | € -120,407 | € -444,776 | ▼ € 324,370 |
| Bank debt | € 3,828,547 | € 3,913,530 | € 4,817,207 | € 5,179,235 | ▲ 8% |
| Balance sheet total | € 4,697,045 | € 4,753,795 | € 5,575,026 | € 8,656,822 | ▲ 55% |
Key figures of VH Development, fiscal years 2023 to 2026, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2027) expected before 31 October 2027.
What happened to VH Development?
What happened at VH Development in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- YANN DOUBLIER stepped down as director. NBB
- New annual accounts for financial year 2026: loss of € 324,370. Source: NBB ↗
- YANN DOUBLIER became a director. NBB
- New establishment in Ukkel. KBO
- Start of the company according to the CBE. KBO
- ARTONE SA became a director. NBB
In short
From € 39,583 loss in 2023 to € 324,370 loss in 2026.
Management
Behind VH Development is ARTONE SA. The shares are held by BF3 - BELGIQUE (100%) and ARTONE (0%). It owns 100% of BF3 City itself.
Directors
According to the 2026 annual accounts
Director · represented by Paul-Edouard Aubry
Also active at: B.U.D.S., Autumn Property 1, Grande Haie Development, Projet Namur Combattants, WHITE STONE DEVELOPMENT, BF3 BELGIAN PROJECTS, Pelletier Development, BF3 COURONNE +8 more
since 2021
YANN DOUBLIER
Director
Also active at: B.U.D.S., WHITE STONE DEVELOPMENT, BF3 BELGIAN PROJECTS, Pelletier Development, BF3 COURONNE, COURONNE DEVELOPMENT, Cottage III, Croissant Development +4 more
since 2023 · until 2029
Shareholders
BF3 - BELGIQUE
100%
0%
Participations
100%
Establishments
Establishment units
Physical locations of this company
Ilya Prigoginelaan 1 box 1
1180 Ukkel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 31 companies are registered at this address.
All companies at this address →Fédération Royale Sportive de l' Enseignement Libre
€ 1.5 million gross margin · 2025
Lexi
€ 2.1 million gross margin · 2025
BF3 City same network
€ 793,579 gross margin · 2026
B.U.D.S. same network
€ -6,875 gross margin · 2026
Association des Fédérations francophones du Sport scolaire
+26 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0778.730.945
- VAT number
- BE 0778.730.945
- Registered office
- Ilya Prigoginelaan 1 bus 1, 1180 Ukkel
- Names & denominations
- VH Development
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 16 December 2021
- Peppol
- Active · Active since 21 Oct 2026
- Activities · NACE
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