ACTIVE

VANGAEVER

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Financial year 2025 · Closed on 31/12/2025

Net result80,9 k €-55,4 %over 1 year

Revenue16,9 M €-3,3 %over 1 year

Equity3,5 M €+2,4 %over 1 year

Workforce26,2 ETP-1,5 %over 1 year

Identity

Source · BCE/KBO

VANGAEVER is a Public limited company incorporated in 1969. Its main activity is: Manufacture of engines and turbines, except aircraft, vehicle and cycle engines. Its registered office is in Waregem. It employs on average 26,2 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0406.729.314
Incorporation: 01/01/1969
Legal form: Public limited company
Registered office: Kabeljauwstraat 20
8790 Waregem · FlandreSee on map
Contributed capital: 900 000,00 €
Latest accounts: 31/12/2025
Average workforce: 26,2 ETP

Activities (NACE)

28110Manufacture of engines and turbines, except aircraft, vehicle and cycle engines· main 46630Wholesale of mining, construction and civil engineering machinery 46630Wholesale of mining, construction and civil engineering machinery 51820Air transport 25110Manufacture of metal structures and parts of structures 25110Manufacture of metal structures and parts of structures+14

Joint committees (4)

14904
200
2000
218

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 20 filings

Trend over 20 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	16,9 M €	-3.3%	17,5 M €	-16.0%	20,8 M €	-3.7%	21,6 M €	+15.7%	18,7 M €
EBITDA	866,4 k €	-41.8%	1,5 M €	+58.5%	939,6 k €	-28.8%	1,3 M €	-1.2%	1,3 M €
Operating result	481,8 k €	-10.5%	538,4 k €	-12.7%	617 k €	-44.7%	1,1 M €	+2.4%	1,1 M €
Net result	80,9 k €	-55.4%	181,4 k €	-40.3%	303,8 k €	-68.8%	974 k €	+1.7%	957,6 k €
Balance sheet
Equity	3,5 M €	+2.4%	3,4 M €	+5.7%	3,2 M €	+42.4%	2,3 M €	+12.2%	2 M €
Total assets	11,2 M €	-5.4%	11,9 M €	-15.7%	14,1 M €	+8.9%	12,9 M €	+73.7%	7,4 M €
Cash	191,9 k €	-43.2%	337,7 k €	-40.3%	565,8 k €	-15.7%	671,3 k €	+13.5%	591,5 k €
Debts	7,5 M €	-11.7%	8,5 M €	-22.0%	10,8 M €	+2.4%	10,6 M €	+95.3%	5,4 M €
Other
Workforce	26,2 ETP	-1.5%	26,6 ETP	-4.3%	27,8 ETP	+0.4%	27,7 ETP	+3.0%	26,9 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 8 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
VG CONNECTIONS0731.747.412Represented by Bruno VANGAEVER	Managing director22/09/2023 → 21/09/2029Director16/07/2019 → 2020 accountsended
VG SOLUTIONS0819.214.587Represented by Luc VANGAEVER	Managing director22/12/2009 → 21/09/2029Director16/07/2019 → 2022 accountsended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Bruno VANGAEVER	Managing director01/06/2015 → 2019 accounts
MAKIN'MEMORIES0429.294.086Represented by Luc Vangaever	Managing director01/06/2015 → 2019 accounts

Other companies at this address

Kabeljauwstraat 20 8790 Waregem

Company	CBE no.
VG REAL ESTATE● Active	0437.307.177

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	08/07/2026	01/07/2025	23/07/2024	12/07/2023	06/07/2022	06/07/2021
General meeting	30/06/2026	30/06/2025	28/06/2024	30/06/2023	30/06/2022	30/06/2021
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, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	30/06/2026	08/07/2026	Dutch	PDF
Full model	31/12/2024	30/06/2025	01/07/2025	Dutch	PDF
Full model	31/12/2023	28/06/2024	23/07/2024	Dutch	PDF
Full model	31/12/2022	30/06/2023	12/07/2023	Dutch	PDF
Full model	31/12/2021	30/06/2022	06/07/2022	Dutch	PDF
Full model	31/12/2020	30/06/2021	06/07/2021	Dutch	PDF
Full model	31/12/2019	29/06/2020	10/07/2020	Dutch	PDF
Full model	31/12/2018	17/04/2019	08/05/2019	Dutch	PDF
Full model	31/12/2017	29/06/2018	06/07/2018	Dutch	PDF
Full model	31/12/2016	28/06/2017	26/07/2017	Dutch	PDF
Full model	31/12/2015	28/06/2016	04/07/2016	Dutch	PDF
Full model	31/12/2014	01/06/2015	01/07/2015	Dutch	PDF
Full model	31/12/2013	30/06/2014	16/07/2014	Dutch	PDF
Full model	31/12/2012	03/06/2013	01/07/2013	Dutch	PDF
Full model	31/12/2011	04/06/2012	03/07/2012	Dutch	PDF
Full model	31/12/2010	06/06/2011	04/07/2011	Dutch	PDF
Full model	31/12/2009	28/06/2010	25/08/2010	Dutch	PDF
Full model	31/12/2008	29/06/2009	20/07/2009	Dutch	PDF
Full model	31/12/2007	23/06/2008	16/07/2008	Dutch	PDF
Full model	31/12/2006	04/06/2007	03/07/2007	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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

2 active · 8 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
VG CONNECTIONS0731.747.412Represented by Bruno VANGAEVER	Managing director22/09/2023 → 21/09/2029Director16/07/2019 → 2020 accountsended
VG SOLUTIONS0819.214.587Represented by Luc VANGAEVER	Managing director22/12/2009 → 21/09/2029Director16/07/2019 → 2022 accountsended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Bruno VANGAEVER	Managing director01/06/2015 → 2019 accounts
MAKIN'MEMORIES0429.294.086Represented by Luc Vangaever	Managing director01/06/2015 → 2019 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates15/09/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/10/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/09/2021
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares18/06/2021
KAPITAAL - AANDELEN
PDF
Restructuring09/08/2019
KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring15/05/2019
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates27/07/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates31/07/2015
ONTSLAGEN - BENOEMINGEN
PDF

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

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings20 filings

Mandates

VG CONNECTIONS

VG SOLUTIONS

MAKIN'MEMORIES

Bruno VANGAEVER

Dries VANGAEVER

TRACO NV

MARSON

VG REAL ESTATE

BOSARTS BVBA

CAPSA

1969197019711972197319741975197619771978197919801981198219831984198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023202420252026202720282029

VANGAEVER

Kabeljauwstraat 20, 8790 Waregem

Managing directorDirector

Managing director

Managing directorDirector

Director

Managing director

Director

Managing director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Kabeljauwstraat 20, 8790 WaregemCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00269069

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
VANGAEVERCurrent	accounts 2006 → 2025	Accounts 2025 · 2026-00269069

Events

2025
Annual accounts 202580,9 k €↓
2024
Annual accounts 2024181,4 k €↓
2023
Annual accounts 2023303,8 k €↓
2022
Annual accounts 2022974 k €↑
2021
Annual accounts 2021957,6 k €↓
2020
Annual accounts 20201,4 M €↑
2019
Annual accounts 2019322,8 k €↑
2018
Annual accounts 2018182 k €↓
2017
Annual accounts 2017245,3 k €↓
2016
Annual accounts 2016446,2 k €↑
2015
Annual accounts 2015169,4 k €↑
2014
Annual accounts 20149,2 k €↓
2013
Annual accounts 201310,9 k €↓
2012
Annual accounts 201232,2 k €↑
2011
Annual accounts 201110,4 k €↓
2010
Annual accounts 201020,5 k €↑
2009
Annual accounts 2009-398,9 k €↓
2008
Annual accounts 200824,7 k €↓
2007
Annual accounts 2007231,5 k €↓
2006
Annual accounts 2006307,6 k €
01/01/1969
IncorporationPublic limited company

VANGAEVER

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

Registered offices

Company names

Events