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 23 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
V.S.M. from Brussel, company number BE0886569904, closed financial year 2025 with a result of € 554,601 after tax. For that financial year V.S.M. recorded a gross margin of € 3.1 million and equity of € 3.2 million. Compared with financial year 2024, the result moved from € 895,027 to € 554,601. The company is profitable. 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 13, 2026.
€ 3.2 million
▲ 10% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 554,601
▼ 38% vs 2024
Profit after tax over the fiscal year.
€ 655,117
▼ 20% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 250,000 paid out
45 % of the profit went to the shareholders, the rest stayed in the company.
People and assets in 2025
29.2
▲ 1.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 2 million
▲ 6% vs 2024
€ 70,000 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 250,684
▲ 27% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 1.3 million
▼ 3% vs 2024
€ 194,201 is repaid this year. At this pace the long-term loan is gone in ≈ 6 years.
€ 495,667
▲ 1% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 695,404
▲ 3% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 5,318,237 | € 4,283,418 | € 3,489,776 | € 3,133,762 | ▼ 10% |
| Profit after taxes | € 1,238,198 | € 882,097 | € 895,027 | € 554,601 | ▼ 38% |
| Equity | € 2,780,118 | € 2,233,204 | € 2,868,116 | € 3,155,334 | ▲ 10% |
| Total debts | € 5,803,132 | € 4,624,685 | € 4,187,870 | € 4,326,713 | ▲ 3% |
| Cash | € 1,632,010 | € 648,899 | € 822,582 | € 655,117 | ▼ 20% |
| Land & buildings | € 1,624,138 | € 1,572,297 | € 1,520,456 | € 1,468,616 | ▼ 3% |
| Retained profit | € 2,636,329 | € 2,161,857 | € 2,806,883 | € 3,111,484 | ▲ 11% |
| Dividend | € 250,000 | € 250,000 | € 250,000 | € 250,000 | |
| Bank debt | € 1,944,833 | € 1,391,513 | € 1,285,492 | € 1,252,996 | ▼ 3% |
| Balance sheet total | € 8,583,250 | € 6,857,888 | € 7,055,986 | € 7,482,047 | ▲ 6% |
| Employees (FTE) | 49.3 | 26.4 | 27.7 | 29.2 | ▲ 1.5 |
Key figures of V.S.M., 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 V.S.M.?
What happened at V.S.M. in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 554,601 (▼ 38% vs 2024). Source: NBB ↗
- Albert NIELS became a director. NBB
- New establishment in Watermaal-Bosvoorde. KBO
- Start of the company according to the CBE. KBO
- New establishment in Brussel. KBO
In short
From € 1.2 million profit in 2022 to € 554,601 profit in 2025.
Paid € 1.3 million in corporate taxes since 2022.
Best year ever: 2022, with € 1.2 million profit.
On average € 107,300 of value added per employee in 2025.
A new publication or filing at V.S.M.? 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.S.M. is Albert NIELS. Albert NIELS is also behind ALF INVEST.
Directors
According to the 2025 annual accounts
since 2023
Establishments
Establishment units
Physical locations of this company
Grote Zavel 38
1000 Brussel
Woudmeesterlaan 2
1170 Watermaal-Bosvoorde
Active since 1 August 2014
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Self-hosted
Hosting
CLOUDFLARENET - Cloudflare, Inc., US
DNS
Cloudflare DNS
Website info
Features
Security
Network
Details
- Company number
- 0886.569.904
- VAT number
- BE 0886.569.904
- Registered office
- Grote Zavel 38, 1000 Brussel
- Names & denominations
- V.S.M.
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 19 January 2007
- Peppol
- Active · Active since 27 Mar 2026
- Contact
- auvieuxsaintmartin.be
- Activities · NACE
Activiteiten van eetgelegenheden met volledige bediening
Restaurants van het traditionele type
Eetgelegenheden met volledige bediening
Activiteiten van eetgelegenheden met beperkte bediening, muv mobiele eetgelegenheden
Catering van evenementen
Eetgelegenheden met beperkte bediening