Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 24 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
V.G.S.A. from Genappe, company number BE0793699134, closed financial year 2025 with a result of € 20,308 after tax. For that financial year V.G.S.A. recorded a gross margin of € 29,110 and equity of € 106,360. Compared with financial year 2024, the result moved from € 20,091 to € 20,308. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 29, 2026.
€ 106,360
▲ 24% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 20,308
▲ 1% vs 2024
Profit after tax over the fiscal year.
€ 16,506
▲ 119% 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 € 54,510.
People and assets in 2025
≈ 1
No payroll staff. One director, so that person most likely runs the business.
€ 720
▼ 34% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 90,217
▼ 19% vs 2024
€ 20,626 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 1,075
Supplier invoices still open on the last day of the fiscal year.
€ 24,795
▲ 74% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|
| Gross margin | € 26,821 | € 30,323 | € 29,110 | ▼ 4% |
| Profit after taxes | € 14,111 | € 20,091 | € 20,308 | ▲ 1% |
| Equity | € 65,961 | € 86,052 | € 106,360 | ▲ 24% |
| Total debts | € 145,994 | € 131,410 | € 174,698 | ▲ 33% |
| Cash | € 5,618 | € 7,531 | € 16,506 | ▲ 119% |
| Retained profit | € 14,111 | € 34,202 | € 54,510 | ▲ 59% |
| Bank debt | € 130,761 | € 110,843 | € 90,217 | ▼ 19% |
| Balance sheet total | € 211,955 | € 217,462 | € 281,058 | ▲ 29% |
Key figures of V.G.S.A., fiscal years 2023 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 V.G.S.A.?
What happened at V.G.S.A. in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 20,308 (▲ 1% vs 2024). Source: NBB ↗
- New establishment in Genappe. KBO
- Steve Aerts became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 14,111 profit in 2023 to € 20,308 profit in 2025.
Paid € 14,480 in corporate taxes since 2023.
Best year ever: 2025, with € 20,308 profit.
A new publication or filing at V.G.S.A.? We notify you, reason included.
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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
Behind V.G.S.A. is Steve Aerts. Steve Aerts is also behind MARVINCE.
Directors
According to the 2025 annual accounts
since 2022
Establishments
Establishment units
Physical locations of this company
Rue de l' Egalité 11D
1470 Genappe
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0793.699.134
- VAT number
- BE 0793.699.134
- Registered office
- Rue de l' Egalité 11D, 1470 Genappe
- Names & denominations
- V.G.S.A. · VGSA
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 17 November 2022
- Peppol
- Active · Active since 30 Dec 2025
- Contact
- [email protected]
- Activities · NACE
Activiteiten van holdings
Holdings