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 40 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
VSI from Sint-Niklaas, company number BE0891939150, closed financial year 2025 with a result of € 41,066 after tax. For that financial year VSI recorded a gross margin of € 117,405 and equity of € 1.3 million. Compared with financial year 2024, the result moved from € -63,172 to € 41,066. 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 October 27, 2025.
€ 1.3 million
▲ 3% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 41,066
▲ still € 63,172 loss in 2024
Profit after tax over the fiscal year.
€ 216,593
▲ 20% 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 € 535,958.
Debts at end 2025
€ 606,560
▲ 32% vs 2024
€ 374,717 is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 173,139
▲ 49% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 6,459
▲ 44% 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 | € 277,020 | € 262,117 | € 35,753 | € 117,405 | ▲ 228% |
| Profit after taxes | € 137,520 | € 125,369 | € -63,172 | € 41,066 | ▲ € 104,238 |
| Equity | € 1,218,694 | € 1,344,064 | € 1,280,892 | € 1,321,958 | ▲ 3% |
| Total debts | € 1,191,955 | € 1,063,678 | € 1,173,493 | € 1,347,298 | ▲ 15% |
| Cash | € 140,450 | € 222,052 | € 179,890 | € 216,593 | ▲ 20% |
| Land & buildings | € 1,233,537 | € 1,541,637 | € 1,765,982 | € 1,108,180 | ▼ 37% |
| Retained profit | € 432,694 | € 558,064 | € 494,892 | € 535,958 | ▲ 8% |
| Bank debt | € 619,930 | € 405,642 | € 460,579 | € 606,560 | ▲ 32% |
| Balance sheet total | € 2,410,649 | € 2,407,741 | € 2,454,385 | € 2,669,256 | ▲ 9% |
Key figures of VSI, 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 October 2026.
What happened to VSI?
What happened at VSI in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 41,066. Source: NBB ↗
- Eric Wuytack became a director. NBB
- GUY THOON became a director. NBB
- LUC DE COCK became a director. NBB
- BART DHOLLANDER became a director. NBB
- New establishment in Sint-Niklaas. KBO
- Start of the company according to the CBE. KBO
In short
From € 137,520 profit in 2022 to € 41,066 profit in 2025.
Paid € 79,179 in corporate taxes since 2022.
Best year ever: 2022, with € 137,520 profit.
A new publication or filing at VSI? 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 VSI are Eric Wuytack, GUY THOON, LUC DE COCK and BART DHOLLANDER. GUY THOON is also behind Solutions Development Projects and WEBCARE. LUC DE COCK is also behind SCI, Solutions Development Projects, CURSOR SYSTEMS, DATAVERDE and WEBCARE. BART DHOLLANDER is also behind M & S and CURSOR SYSTEMS.
Directors
According to the 2025 annual accounts
Eric Wuytack
Director
since 2020
since 2020
LUC DE COCK
Director
Also active at: SCI, Solutions Development Projects, CURSOR SYSTEMS, DATAVERDE, WEBCARE, iQ4u, Dynavision, Fontibus
since 2020
since 2020
Establishments
Establishment units
Physical locations of this company
Vijfstraten 18
9100 Sint-Niklaas
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 5 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.
Details
- Company number
- 0891.939.150
- VAT number
- BE 0891.939.150
- Registered office
- Vijfstraten 18, 9100 Sint-Niklaas
- Names & denominations
- VSI
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 10 September 2007
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
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