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 3 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 3 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
VINCENT SQ from Waregem, company number BE0894103339, closed financial year 2025 with a result of € -619,636 after tax. For that financial year VINCENT SQ recorded a gross margin of € 258,862 and equity of € -1.2 million. Compared with financial year 2024, the result moved from € -322,247 to € -619,636. 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 December 11, 2025.
€ -1.2 million
▼ € 619,636 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -619,636
▼ 92 % more loss than in 2024
Profit after tax over the fiscal year.
€ 209,007
▼ 2% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.9 million.
Debts at end 2025
€ 7.6 million
▲ 22% vs 2024
€ 533,333 is repaid this year. At this pace the long-term loan is gone in ≈ 14 years.
€ 162,138
▲ € 148,949 vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 1,685
▲ € 1,385 vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 160,417 | € 229,192 | € 260,267 | € 258,862 | ▼ 1% |
| Profit after taxes | € -586,424 | € -1,032,314 | € -322,247 | € -619,636 | ▼ € 297,389 |
| Equity | € 732,669 | € -299,645 | € -621,892 | € -1,241,528 | ▼ € 619,636 |
| Total debts | € 3,618,851 | € 4,219,270 | € 9,824,858 | € 13,823,133 | ▲ 41% |
| Cash | € 139,447 | € 124,236 | € 212,809 | € 209,007 | ▼ 2% |
| Land & buildings | € 4,174,320 | € 3,760,521 | € 8,983,341 | € 12,368,546 | ▲ 38% |
| Retained profit | € 52,269 | € -980,045 | € -1,302,292 | € -1,921,928 | ▼ € 619,636 |
| Bank debt | € 0 | € 650,307 | € 6,191,687 | € 7,577,778 | ▲ 22% |
| Balance sheet total | € 4,351,520 | € 3,919,625 | € 9,202,967 | € 12,581,605 | ▲ 37% |
Key figures of VINCENT SQ, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 January 2027.
What happened to VINCENT SQ?
What happened at VINCENT SQ in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 619,636. Source: NBB ↗
- New establishment in Waregem. KBO
- Start of the company according to the CBE. KBO
In short
From € 586,424 loss in 2022 to € 619,636 loss in 2025.
Paid € 4 in corporate taxes since 2022.
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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 VINCENT SQ are Dirk Michiels, Sabine Michiels and Nicole Van Geluwe. Dirk Michiels is also behind Michiels Fabrieken. Sabine Michiels is also behind Michiels Fabrieken and SABINCO.
Directors
According to the 2025 annual accounts
Nicole Van Geluwe
Director
Establishments
Establishment units
Physical locations of this company
Tapuitstraat 272
8790 Waregem
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0894.103.339
- VAT number
- BE 0894.103.339
- Registered office
- Tapuitstraat 272, 8790 Waregem
- Names & denominations
- VINCENT SQ
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 30 November 2007
- Peppol
- Active · Active since 27 Mar 2026
- Activities · NACE
Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen
Activiteiten van holdings
Holdings