ACTIVE

VETEX

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Financial year 2025 · closed on 31/12/2025

Net result

-608,7 k €

-1587.8% YoY

Revenue

16,1 M €

-1.2% YoY

Equity

4,4 M €

-12.7% YoY

Workforce

64,6 ETP

-4.0% YoY

What does VETEX do?

VETEX is a Public limited company incorporated in 1968. Its registered office is in Ingelmunster. It employs on average 64,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0405.379.727

Incorporation

01/01/1968

Legal form

Public limited company

Registered office

Leon Bekaertstraat 14
8770 Ingelmunster · FlandreSee on map

Contributed capital

1 627 187,70 €

Latest accounts

31/12/2025

Average workforce

64,6 ETP

Joint committees (2)

Signals

Solid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	16,1 M €	-1.2%	16,3 M €	+10.5%	14,7 M €	-9.1%	16,2 M €	+8.1%	15 M €	-5.1%	15,8 M €	+7.8%	14,6 M €	-4.3%	15,3 M €	-4.9%	16,1 M €	+6.6%	15,1 M €	+6.1%	14,2 M €	+1.8%	14 M €	+19.5%	11,7 M €	+17.7%	9,9 M €	+6.9%	9,3 M €	+6.6%	8,7 M €	+25.0%	7 M €	+3.9%	6,7 M €	-9.4%	7,4 M €	+11.3%	6,7 M €
EBITDA	591 k €	-57.3%	1,4 M €	+16.4%	1,2 M €	+51.7%	784,5 k €	-1.2%	794,2 k €	-17.4%	961,5 k €	+158%	373,2 k €	-71.7%	1,3 M €	-38.2%	2,1 M €	-7.1%	2,3 M €	-8.3%	2,5 M €	+13.2%	2,2 M €	+8.1%	2 M €	+7.0%	1,9 M €	-9.0%	2,1 M €	+2.1%	2,1 M €	+76.7%	1,2 M €	+1091%	-117,5 k €	-150%	235 k €	-58.8%	569,8 k €
Operating result	-732,1 k €	-706%	120,9 k €	+153%	-228,3 k €	+68.7%	-730,4 k €	+21.0%	-924,9 k €	-15.5%	-800,5 k €	+34.0%	-1,2 M €	-963%	-114,2 k €	-112%	922,4 k €	-25.0%	1,2 M €	-16.6%	1,5 M €	+18.3%	1,2 M €	+11.5%	1,1 M €	+2.0%	1,1 M €	-15.5%	1,3 M €	+7.1%	1,2 M €	+251%	345,2 k €	+152%	-662 k €	-384%	-136,9 k €	-133%	419,4 k €
Net result	-608,7 k €	-1588%	40,9 k €	+113%	-325,8 k €	-379%	-68,1 k €	+91.4%	-789,6 k €	+15.8%	-937,4 k €	+24.7%	-1,2 M €	-282%	-325,6 k €	-161%	532 k €	-45.1%	969,6 k €	-9.5%	1,1 M €	+124%	477,3 k €	-43.0%	838,1 k €	+20.5%	695,6 k €	-16.5%	833,4 k €	-0.1%	834,1 k €	+1685%	46,7 k €	-85.0%	312,2 k €	+338%	-130,9 k €	-122%	590,2 k €
Balance sheet
Equity	4,4 M €	-12.7%	5 M €	+0.2%	5 M €	-6.8%	5,4 M €	-2.2%	5,5 M €	-13.4%	6,4 M €	-13.7%	7,4 M €	-15.0%	8,7 M €	-2.9%	9 M €	+2.6%	8,7 M €	+7.5%	8,1 M €	+20.6%	6,7 M €	+5.2%	6,4 M €	+10.5%	5,8 M €	+9.3%	5,3 M €	+12.3%	4,7 M €	+13.4%	4,2 M €	+0.8%	4,1 M €	+8.2%	3,8 M €	-3.3%	3,9 M €
Total assets	10,5 M €	-6.1%	11,2 M €	-2.6%	11,5 M €	-5.9%	12,2 M €	-7.8%	13,2 M €	-5.7%	14 M €	-6.6%	15 M €	-9.6%	16,6 M €	+17.4%	14,1 M €	-1.1%	14,3 M €	+30.3%	11 M €	+12.9%	9,7 M €	+17.4%	8,3 M €	+9.3%	7,6 M €	+8.9%	7 M €	-1.1%	7 M €	+9.1%	6,4 M €	-14.6%	7,6 M €	+27.9%	5,9 M €	+20.6%	4,9 M €
Cash	370,5 k €	-6.4%	396 k €	-47.9%	760,3 k €	+4.7%	725,9 k €	-27.7%	1 M €	-6.1%	1,1 M €	-15.6%	1,3 M €	+5.2%	1,2 M €	-46.2%	2,2 M €	+9.0%	2,1 M €	+17.7%	1,7 M €	+21.5%	1,4 M €	-8.3%	1,6 M €	+30.1%	1,2 M €	+19.7%	1 M €	-42.0%	1,7 M €	+179%	621,7 k €	+274%	166 k €	-49.4%	327,8 k €	-47.7%	626,7 k €
Debts	5,7 M €	-3.7%	5,9 M €	-6.0%	6,3 M €	-4.1%	6,6 M €	-12.8%	7,5 M €	+2.4%	7,3 M €	-0.3%	7,4 M €	-4.5%	7,7 M €	+53.7%	5 M €	-6.8%	5,4 M €	+109%	2,6 M €	-10.1%	2,9 M €	+55.2%	1,8 M €	+3.7%	1,8 M €	+8.2%	1,6 M €	-26.8%	2,2 M €	+1.4%	2,2 M €	-33.2%	3,3 M €	+74.9%	1,9 M €	+117%	875,1 k €
Other
Workforce	64,6 ETP	-4.0%	67,3 ETP	-8.7%	73,7 ETP	+1.0%	73,0 ETP	-1.4%	74,0 ETP	+4.2%	71,0 ETP	+6.8%	66,5 ETP	-1.0%	67,2 ETP	-0.4%	67,5 ETP	+14.6%	58,9 ETP	+3.0%	57,2 ETP	+11.9%	51,1 ETP	+20.0%	42,6 ETP	+7.6%	39,6 ETP	+4.8%	37,8 ETP	+5.6%	35,8 ETP	-2.5%	36,7 ETP	-4.4%	38,4 ETP	-0.8%	38,7 ETP	+12.2%	34,5 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 23 ended

Active mandates

Erik Geerardyn

Director · since 28 septembre 2023 · until 24 avril 2029

Active

VETEX

Managing director · since 28 septembre 2023 · until 24 avril 2029 · 0405.379.727

Represented by Patrick Rigole

Active

Willi BULCKAERT

Director · since 28 septembre 2023 · until 24 avril 2029

Active

Ended mandates

Gerard DELEEUW

Director · since 28 avril 2021 · until 25 avril 2023

Ended

Gerard DELEEUW

Director · since 28 avril 2021 · until 27 avril 2027

Ended

VETEX

Managing director · since 28 avril 2021 · until 27 avril 2027 · 0405.379.727

Represented by Patrick Rigole

Ended

Willi BULCKAERT

Director · since 28 avril 2021 · until 27 avril 2027

Ended

At this address

Other companies at this address

Company	CBE no.
Vetex Invest● Active	0890.435.452

Annual accounts

Full financial information

	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	29/04/2026	07/05/2025	07/05/2024	28/09/2023	24/08/2022	28/04/2021
General meeting	28/04/2026	29/04/2025	30/04/2024	25/04/2023	26/04/2022	27/04/2021
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

Ratios

Financial ratios

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Filings

Annual accounts filings

23 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	28/04/2026	29/04/2026	Dutch	PDF
Full model	31/12/2024	29/04/2025	07/05/2025	Dutch	PDF
Full model	31/12/2023	30/04/2024	07/05/2024	Dutch	PDF
Full modelCorrection	31/12/2022	25/04/2023	28/09/2023	Dutch	PDF
Full model	31/12/2022	25/04/2023	26/04/2023	Dutch	PDF
Full modelCorrection	31/12/2021	26/04/2022	24/08/2022	Dutch	PDF
Full model	31/12/2021	26/04/2022	27/04/2022	Dutch	PDF
Full model	31/12/2020	27/04/2021	28/04/2021	Dutch	PDF
Full model	31/12/2019	26/05/2020	29/05/2020	Dutch	PDF
Full model	31/12/2018	30/04/2019	10/05/2019	Dutch	PDF
Full model	31/12/2017	24/04/2018	04/05/2018	Dutch	PDF
Full model	31/12/2016	25/04/2017	01/06/2017	Dutch	PDF
Full model	31/12/2015	26/04/2016	25/08/2016	Dutch	PDF
Full model	31/12/2014	28/04/2015	28/05/2015	Dutch	PDF
Full modelCorrection	31/12/2013	29/04/2014	26/08/2014	Dutch	PDF
Full model	31/12/2013	29/04/2014	02/06/2014	Dutch	PDF
Full model	31/12/2012	30/04/2013	24/05/2013	Dutch	PDF
Full model	31/12/2011	24/04/2012	09/05/2012	Dutch	PDF
Full model	31/12/2010	26/04/2011	13/05/2011	Dutch	PDF
Full model	31/12/2009	27/04/2010	06/05/2010	Dutch	PDF
Full model	31/12/2008	28/04/2009	18/05/2009	Dutch	PDF
Full model	31/12/2007	29/04/2008	26/05/2008	Dutch	PDF
Full model	31/12/2006	24/04/2007	11/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 23 ended

Active mandates

Erik Geerardyn

Director · since 28 septembre 2023 · until 24 avril 2029

Active

VETEX

Managing director · since 28 septembre 2023 · until 24 avril 2029 · 0405.379.727

Represented by Patrick Rigole

Active

Willi BULCKAERT

Director · since 28 septembre 2023 · until 24 avril 2029

Active

Ended mandates

Gerard DELEEUW

Director · since 28 avril 2021 · until 25 avril 2023

Ended

Gerard DELEEUW

Director · since 28 avril 2021 · until 27 avril 2027

Ended

VETEX

Managing director · since 28 avril 2021 · until 27 avril 2027 · 0405.379.727

Represented by Patrick Rigole

Ended

Willi BULCKAERT

Director · since 28 avril 2021 · until 27 avril 2027

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates19/06/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/10/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/07/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/09/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/06/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/06/2016
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/09/2014
ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/09/2013
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

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

See the Business plan

2025
Annual accounts 2025-608,7 k €↓
2024
Annual accounts 202440,9 k €↑
2023
Annual accounts 2023-325,8 k €↓
2022
Annual accounts 2022-68,1 k €↑
2021
Annual accounts 2021-789,6 k €↑
2020
Annual accounts 2020-937,4 k €↑
2019
Annual accounts 2019-1,2 M €↓
2018
Annual accounts 2018-325,6 k €↓
2017
Annual accounts 2017532 k €↓
2016
Annual accounts 2016969,6 k €↓
2015
Annual accounts 20151,1 M €↑
2014
Annual accounts 2014477,3 k €↓
2013
Annual accounts 2013838,1 k €↑
2012
Annual accounts 2012695,6 k €↓
2011
Annual accounts 2011833,4 k €↓
2010
Annual accounts 2010834,1 k €↑
2009
Annual accounts 200946,7 k €↓
2008
Annual accounts 2008312,2 k €↑
2007
Annual accounts 2007-130,9 k €↓
2006
Annual accounts 2006590,2 k €
01/01/1968
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

VETEX

Overview

What does VETEX do?

Trend over 20 financial years

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