ACTIVE

V.D.

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Financial year 2025 · closed on 31/12/2025

Net result

30,7 k €

+424.9% YoY

Gross margin

831,8 k €

+15.2% YoY

Equity

1,6 M €

-0.7% YoY

Workforce

9,2 ETP

+5.7% YoY

What does V.D. do?

V.D. is a Public limited company incorporated in 1975. Its main activity is: Wholesale of wood, construction materials and sanitary equipment. Its registered office is in Liedekerke. It employs on average 9,2 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0415.571.259

Incorporation

17/12/1975

Legal form

Public limited company

Registered office

Nijverheidszone 'Begijnenmeers' 53
1770 Liedekerke · FlandreSee on map

Contributed capital

414 301,59 €

Latest accounts

31/12/2025

Average workforce

9,2 ETP

Activities (NACE)

46731Wholesale of wood, construction materials and sanitary equipment· main 46742Wholesale of hardware, plumbing and heating equipment and supplies 46831Wholesale trade, except of motor vehicles and motorcycles 46842Wholesale trade, except of motor vehicles and motorcycles 51532Air transport 51542Air transport+9

Joint committees (3)

14904
200
218

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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
Gross margin	831,8 k €	+15.2%	721,8 k €	-27.4%	994,2 k €	-14.1%	1,2 M €	+14.2%	1 M €	+26.3%	802,4 k €	+11.1%	721,9 k €	+7.3%	672,7 k €	+2.9%	653,5 k €	-2.0%	666,6 k €	+6.2%	627,5 k €	+16.7%	537,6 k €	-3.0%	554,1 k €	-16.6%	664,5 k €	-25.1%	887,1 k €	+6.0%	836,7 k €	+7.5%	778,3 k €	+12.1%	694,6 k €	+43.1%	485,5 k €	+2.6%	473,4 k €
EBITDA	52,6 k €	+398%	10,5 k €	-97.2%	373,8 k €	-32.2%	551 k €	+17.9%	467,5 k €	+56.7%	298,3 k €	+105%	145,2 k €	-7.8%	157,5 k €	-25.5%	211,5 k €	-11.0%	237,7 k €	+21.9%	194,9 k €	-14.4%	227,6 k €	+18.7%	191,7 k €	+51.6%	126,4 k €	+82.1%	69,4 k €	-54.8%	153,6 k €	+15.8%	132,6 k €	-2.6%	136,2 k €	+524%	-32,1 k €	-150%	64,1 k €
Operating result	-9,5 k €	+64.7%	-26,9 k €	-109%	306,5 k €	-35.0%	471,4 k €	+23.3%	382,3 k €	+91.0%	200,1 k €	+399%	40,1 k €	+39.9%	28,7 k €	-30.4%	41,2 k €	-21.2%	52,3 k €	+182%	18,5 k €	-50.7%	37,6 k €	-35.2%	58,1 k €	+42940%	135 €	+101%	-17,7 k €	-136%	48,6 k €	-17.6%	59 k €	+31.6%	44,9 k €	+285%	-24,2 k €	-222%	19,9 k €
Net result	30,7 k €	+425%	5,8 k €	-97.7%	255,3 k €	-31.7%	373,7 k €	+36.9%	273 k €	+94.0%	140,7 k €	+249%	40,4 k €	+405%	8 k €	-47.9%	15,3 k €	-32.9%	22,9 k €	+532%	3,6 k €	+0.6%	3,6 k €	-83.3%	21,5 k €	+185%	-25,3 k €	+54.9%	-56,3 k €	-538%	12,9 k €	+20.5%	10,7 k €	+126%	-41,2 k €	+44.5%	-74,2 k €	-1523%	5,2 k €
Balance sheet
Equity	1,6 M €	-0.7%	1,6 M €	-10.8%	1,8 M €	+15.7%	1,5 M €	+32.2%	1,2 M €	+30.8%	886,9 k €	+18.9%	746,2 k €	+5.7%	705,8 k €	+1.1%	697,8 k €	+2.2%	682,5 k €	+3.5%	659,6 k €	+158%	256 k €	+1.4%	252,4 k €	+9.3%	230,9 k €	-9.9%	256,2 k €	-18.0%	312,5 k €	+4.3%	299,6 k €	+3.7%	288,9 k €	-12.5%	330,1 k €	-18.3%	404,3 k €
Total assets	2,4 M €	+4.2%	2,3 M €	-14.9%	2,7 M €	+1.3%	2,6 M €	+10.7%	2,4 M €	-2.2%	2,4 M €	+5.8%	2,3 M €	-4.4%	2,4 M €	-0.2%	2,4 M €	-2.5%	2,5 M €	-5.1%	2,6 M €	-7.9%	2,8 M €	-2.2%	2,9 M €	-11.9%	3,3 M €	-12.0%	3,7 M €	-3.5%	3,8 M €	+0.9%	3,8 M €	-1.2%	3,9 M €	+24.6%	3,1 M €	+83.5%	1,7 M €
Cash	174,9 k €	-14.7%	205,1 k €	+10.6%	185,5 k €	+44.8%	128,1 k €	+39.7%	91,7 k €	+27.7%	71,8 k €	-17.2%	86,7 k €	+17.5%	73,8 k €	+37.8%	53,6 k €	-61.5%	139,3 k €	+50.1%	92,7 k €	-0.3%	93 k €	-29.2%	131,4 k €	-49.9%	262,1 k €	-28.5%	366,5 k €	+5.6%	347 k €	+26.5%	274,2 k €	-26.5%	373,3 k €	+37.4%	271,6 k €	+203%	89,7 k €
Debts	787 k €	+15.5%	681,2 k €	-22.8%	882,7 k €	-18.9%	1,1 M €	-10.1%	1,2 M €	-21.2%	1,5 M €	-0.6%	1,5 M €	-8.6%	1,7 M €	-0.7%	1,7 M €	-4.0%	1,8 M €	-8.0%	1,9 M €	-24.5%	2,6 M €	-2.6%	2,6 M €	-13.6%	3 M €	-11.9%	3,4 M €	-2.2%	3,5 M €	+0.5%	3,5 M €	-1.5%	3,6 M €	+28.9%	2,8 M €	+120%	1,3 M €
Other
Workforce	9,2 ETP	+5.7%	8,7 ETP	-1.1%	8,8 ETP	-8.3%	9,6 ETP	-2.0%	9,8 ETP	+2.1%	9,6 ETP	-2.0%	9,8 ETP	+11.4%	8,8 ETP	+6.0%	8,3 ETP	+20.3%	6,9 ETP	-2.8%	7,1 ETP	-19.3%	8,8 ETP	-1.1%	8,9 ETP	-22.6%	11,5 ETP	-20.1%	14,4 ETP	+2.9%	14,0 ETP	+14.8%	12,2 ETP	-0.8%	12,3 ETP	+18.3%	10,4 ETP	+6.1%	9,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 13 ended

Active mandates

Anneke Van Driessche

Managing director

Active

Lieven De Brandt

Director

Active

Ended mandates

Lieven De Brandt

Director · since 08 décembre 2016 · until 08 décembre 2020

Ended

Lieven De Brandt

Director · since 22 avril 2016 · until 16 mai 2020

Ended

Anneke Van Driessche

Managing director · since 17 mai 2014 · until 16 mai 2020

Ended

Emilienne Moens

Director · since 17 mai 2014 · until 22 avril 2016

Ended

At this address

Other companies at this address

Company	CBE no.
VD NATION● Active	1011.154.724

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	07/07/2026	04/06/2025	30/05/2024	28/03/2023	04/04/2022	30/06/2021
General meeting	30/06/2026	16/05/2025	17/05/2024	27/03/2023	31/03/2022	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

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	30/06/2026	07/07/2026	Dutch	PDF
Abridged model	31/12/2024	16/05/2025	04/06/2025	Dutch	PDF
Abridged model	31/12/2023	17/05/2024	30/05/2024	Dutch	PDF
Abridged model	31/12/2022	27/03/2023	28/03/2023	Dutch	PDF
Abridged model	31/12/2021	31/03/2022	04/04/2022	Dutch	PDF
Abridged model	31/12/2020	30/06/2021	30/06/2021	Dutch	PDF
Abridged model	31/12/2019	17/08/2020	03/09/2020	Dutch	PDF
Abridged model	31/12/2018	18/05/2019	28/08/2019	Dutch	PDF
Abridged model	31/12/2017	28/06/2018	03/07/2018	Dutch	PDF
Abridged model	31/12/2016	20/05/2017	25/08/2017	Dutch	PDF
Abridged model	31/12/2015	21/05/2016	22/07/2016	Dutch	PDF
Abridged model	31/12/2014	16/05/2015	10/06/2015	Dutch	PDF
Abridged model	31/12/2013	17/05/2014	19/05/2014	Dutch	PDF
Abridged model	31/12/2012	18/05/2013	18/06/2013	Dutch	PDF
Abridged model	31/12/2011	19/05/2012	25/06/2012	Dutch	PDF
Abridged model	31/12/2010	21/05/2011	21/06/2011	Dutch	PDF
Abridged model	31/12/2009	15/05/2010	17/05/2010	Dutch	PDF
Abridged model	31/12/2008	16/05/2009	12/06/2009	Dutch	PDF
Abridged model	31/12/2007	17/05/2008	28/05/2008	Dutch	PDF
Abridged model	31/12/2006	19/05/2007	20/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

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 · 2 active · 13 ended

Active mandates

Anneke Van Driessche

Managing director

Active

Lieven De Brandt

Director

Active

Ended mandates

Lieven De Brandt

Director · since 08 décembre 2016 · until 08 décembre 2020

Ended

Lieven De Brandt

Director · since 22 avril 2016 · until 16 mai 2020

Ended

Anneke Van Driessche

Managing director · since 17 mai 2014 · until 16 mai 2020

Ended

Emilienne Moens

Director · since 17 mai 2014 · until 22 avril 2016

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Restructuring26/07/2024
KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring19/04/2024
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...) - DIVERSEN
PDF
Mandates05/02/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Mandates18/09/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates19/12/2016
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares18/01/2016
KAPITAAL - AANDELEN
PDF
Mandates22/07/2014
ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/08/2012
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 202530,7 k €↑
2024
Annual accounts 20245,8 k €↓
2023
Annual accounts 2023255,3 k €↓
2022
Annual accounts 2022373,7 k €↑
2021
Annual accounts 2021273 k €↑
2020
Annual accounts 2020140,7 k €↑
2019
Annual accounts 201940,4 k €↑
2018
Annual accounts 20188 k €↓
2017
Annual accounts 201715,3 k €↓
2016
Annual accounts 201622,9 k €↑
2015
Annual accounts 20153,6 k €↑
2014
Annual accounts 20143,6 k €↓
2013
Annual accounts 201321,5 k €↑
2012
Annual accounts 2012-25,3 k €↑
2011
Annual accounts 2011-56,3 k €↓
2010
Annual accounts 201012,9 k €↑
2009
Annual accounts 200910,7 k €↑
2008
Annual accounts 2008-41,2 k €↑
2007
Annual accounts 2007-74,2 k €↓
2006
Annual accounts 20065,2 k €
17/12/1975
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

V.D.

Overview

What does V.D. 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