ACTIVE

VERHELST AANNEMINGEN

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Financial year 2025 · Closed on 31/12/2025

Net result718 k €-70,4 %over 1 year

Revenue87,7 M €-8,7 %over 1 year

Equity27,1 M €+2,7 %over 1 year

Workforce238,8 ETP+0,2 %over 1 year

Identity

Source · BCE/KBO

VERHELST AANNEMINGEN is a Public limited company incorporated in 1955. Its main activity is: Construction of roads and motorways. Its registered office is in Oostende. It employs on average 238,8 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0405.262.931
Incorporation: 29/12/1955
Legal form: Public limited company
Registered office: Oudenburgsesteenweg 106
8400 Oostende · FlandreSee on map
Contributed capital: 497 031,06 €
Latest accounts: 31/12/2025
Average workforce: 238,8 ETP

Activities (NACE)

42110Construction of roads and motorways· main 42110Construction of roads and motorways 43120Site preparation 45112Sale of cars and light motor vehicles 45230Maintenance and repair of motor vehicles 43120Site preparation+6

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 22 filings

Trend over 18 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	87,7 M €	-8.7%	96,1 M €	-12.4%	109,7 M €	+13.1%	96,9 M €	+19.1%	81,4 M €
EBITDA	8,8 M €	-11.9%	10 M €	-20.6%	12,6 M €	-8.1%	13,7 M €	+14.5%	12 M €
Operating result	1,1 M €	-65.4%	3 M €	-33.3%	4,6 M €	-38.5%	7,4 M €	-3.8%	7,7 M €
Net result	718 k €	-70.4%	2,4 M €	-33.0%	3,6 M €	-38.6%	5,9 M €	+1.4%	5,8 M €
Balance sheet
Equity	27,1 M €	+2.7%	26,4 M €	+10.1%	24 M €	+17.0%	20,5 M €	+11.3%	18,4 M €
Total assets	61,2 M €	-15.3%	72,2 M €	+17.5%	61,4 M €	-5.0%	64,7 M €	+17.2%	55,2 M €
Cash	588,3 k €	+189%	203,3 k €	-74.4%	792,7 k €	+8.7%	729,1 k €	-50.8%	1,5 M €
Debts	29,5 M €	-27.7%	40,8 M €	+26.6%	32,2 M €	-15.8%	38,3 M €	+23.3%	31,1 M €
Other
Workforce	238,8 ETP	+0.2%	238,4 ETP	+6.0%	224,9 ETP	+0.7%	223,4 ETP	+6.6%	209,5 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 30 ended

Active mandates

VERHELST GROUP

Managing director · since 28 juin 2024 · until 29 juin 2029 · 0466.316.018

Represented by Johan VERHELST

Active

RENONG

Director · since 01 juillet 2020 · until 26 juin 2026 · 0652.810.394

Represented by Dries Devroe

Active

SPC

Director · since 01 juillet 2020 · until 26 juin 2026 · 0713.595.940

Represented by Sebastiaan Pottie

Active

Ended mandates

RENONG

Director · since 01 juillet 2020 · until 16 mai 2026 · 0652.810.394

Represented by Dries Devroe

Ended

SPC

Director · since 01 juillet 2020 · until 16 mai 2026 · 0713.595.940

Represented by Sebastiaan Pottie

Ended

CAROLINE VANHEEDE

Director · since 09 mai 2018 · until 04 mai 2024

Ended

CAROLINE VANHEEDE

Director · since 09 mai 2018 · until 18 mai 2024

Ended

Other companies at this address

Oudenburgsesteenweg 106 8400 Oostende

Company	CBE no.
BALEGRO● Active	0420.538.847
BTW-eenheid Verhelst Group● Active	0715.511.491
DRONGEN E40● Active	0792.867.706
EUROPEAN PORT SERVICES● Active	0421.687.605
GECA INVEST● Active	0471.743.266
RECYC WEST● Active	0455.261.085
TERRA COSA● Active	0881.076.239
T.M.C. BELGIUM● Active	0427.365.766
TM Verhelst-Vanlerberghe● Active	0761.666.467
TopAsfalt● Active	0508.599.407
Top-Mix● Active	0415.555.324
TOP-MIX RECYCLING● Active	0720.650.018
Transport Janssens● Active	0415.603.626
VERHELST Aannemingen - SOETAERT Algemene Ondernemingen 2● Active	0651.868.506
VERHELST GROUP● Active	0466.316.018
Verhelst Immo● Active	0416.873.534
VERHELST IMMO II● Active	0444.033.930
Verhelst Machines● Active	0460.700.510
VERHELST SERVICES● Active	1016.042.930

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	15/07/2026	15/07/2025	17/09/2024	27/06/2023	29/06/2022	14/07/2021
General meeting	26/06/2026	27/06/2025	28/06/2024	20/05/2023	21/05/2022	23/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 22 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	26/06/2026	15/07/2026	Dutch	PDF
Full model	31/12/2024	27/06/2025	15/07/2025	Dutch	PDF
Full modelCorrection	31/12/2023	28/06/2024	17/09/2024	Dutch	PDF
Full model	31/12/2023	28/06/2024	15/07/2024	Dutch	PDF
Full model	31/12/2022	20/05/2023	27/06/2023	Dutch	PDF
Full model	31/12/2021	21/05/2022	29/06/2022	Dutch	PDF
Full model	31/12/2020	23/06/2021	14/07/2021	Dutch	PDF
Full model	31/12/2019	16/05/2020	23/06/2020	Dutch	PDF
Full model	31/12/2018	28/06/2019	28/06/2019	Dutch	PDF
Full model	31/12/2017	21/06/2018	09/07/2018	Dutch	PDF
Full model	31/12/2016	30/06/2017	10/07/2017	Dutch	PDF
Full model	31/12/2015	24/06/2016	13/07/2016	Dutch	PDF
Full model	31/12/2014	26/06/2015	16/07/2015	Dutch	PDF
Full model	31/12/2013	27/06/2014	14/07/2014	Dutch	PDF
Full model	31/12/2012	28/06/2013	12/07/2013	Dutch	PDF
Full model	31/12/2011	29/06/2012	11/07/2012	Dutch	PDF
Full model	31/12/2010	24/06/2011	12/07/2011	Dutch	PDF
Full model	31/12/2009	25/06/2010	28/06/2010	Dutch	PDF
Full modelCorrection	31/12/2008	26/06/2009	13/11/2009	Dutch	PDF
Full model	31/12/2008	26/06/2009	07/07/2009	Dutch	PDF
Full model	31/12/2007	30/05/2008	10/06/2008	Dutch	PDF
Full model	31/12/2006	29/06/2007	16/07/2007	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 30 ended

Active mandates

VERHELST GROUP

Managing director · since 28 juin 2024 · until 29 juin 2029 · 0466.316.018

Represented by Johan VERHELST

Active

RENONG

Director · since 01 juillet 2020 · until 26 juin 2026 · 0652.810.394

Represented by Dries Devroe

Active

SPC

Director · since 01 juillet 2020 · until 26 juin 2026 · 0713.595.940

Represented by Sebastiaan Pottie

Active

Ended mandates

RENONG

Director · since 01 juillet 2020 · until 16 mai 2026 · 0652.810.394

Represented by Dries Devroe

Ended

SPC

Director · since 01 juillet 2020 · until 16 mai 2026 · 0713.595.940

Represented by Sebastiaan Pottie

Ended

CAROLINE VANHEEDE

Director · since 09 mai 2018 · until 04 mai 2024

Ended

CAROLINE VANHEEDE

Director · since 09 mai 2018 · until 18 mai 2024

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates11/09/2026
Benoeming bestuurders
PDF
Mandates01/10/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/05/2025
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring01/02/2024
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring21/11/2023
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates22/07/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/07/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/09/2019
ONTSLAGEN - BENOEMINGEN
PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

2025
Annual accounts 2025718 k €↓
27/06/2025
nominationNV Callens Vandelanotte — commissaris
2024
Annual accounts 20242,4 M €↓
28/06/2024
reconductionVerhelst Group BV — bestuurder
28/06/2024
nominationVerhelst Group BV — gedelegeerd bestuurder
2023
Annual accounts 20233,6 M €↓
2022
Annual accounts 20225,9 M €↑
21/05/2022
nominationFrank Vandelanotte — commissaris
2021
Annual accounts 20215,8 M €↑
2020
Annual accounts 20205,8 M €↑
2019
Annual accounts 20193,6 M €↑
2018
Annual accounts 20181,7 M €↑
2017
Annual accounts 2017-1 M €↑
2016
Annual accounts 2016-2,3 M €↓
2015
Annual accounts 20151,2 M €↑
2014
Annual accounts 201424,6 k €↓
2013
Annual accounts 20131,1 M €↓
2012
Annual accounts 20121,8 M €↑
2011
Annual accounts 2011935,7 k €↑
2010
Annual accounts 2010445 k €↑
2009
Annual accounts 2009283,2 k €↓
2008
Annual accounts 20081,2 M €
29/12/1955
IncorporationPublic limited company

VERHELST AANNEMINGEN

Overview

Identity

Financials

Valuation

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline

Timeline