ACTIVE

VERVOERONDERNEMING VULSTEKE

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Financial year 2025 · closed on 31/12/2025

Net result

416 k €

+13.7% YoY

Gross margin

3,2 M €

+13.3% YoY

Equity

4,3 M €

+10.7% YoY

Workforce

32,9 ETP

+1.5% YoY

What does VERVOERONDERNEMING VULSTEKE do?

VERVOERONDERNEMING VULSTEKE is a Private limited company incorporated in 1976. Its main activity is: Freight transport by road. Its registered office is in Staden. It employs on average 32,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0416.548.286

Incorporation

12/11/1976

Legal form

Private limited company

Registered office

Sint Jansstraat(STA) 124
8840 Staden · FlandreSee on map

Contributed capital

18 592,01 €

Latest accounts

31/12/2025

Average workforce

32,9 ETP

Activities (NACE)

49410Freight transport by road· main 49410Freight transport by road 60242Television programming and broadcasting activities 43120Site preparation 43120Site preparation 45112Sale of cars and light motor vehicles

Joint committees (6)

124
140
14003
218
226
2260

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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	3,2 M €	+13.3%	2,8 M €	+4.1%	2,7 M €	+23.3%	2,2 M €	-19.4%	2,7 M €	+24.4%	2,2 M €	+1.6%	2,1 M €	-5.7%	2,3 M €	+10.9%	2,1 M €	+14.6%	1,8 M €	-10.8%	2 M €	+7.8%	1,9 M €	+10.9%	1,7 M €	-0.3%	1,7 M €	+0.9%	1,7 M €	+17.5%	1,4 M €	+5.0%	1,4 M €	-6.1%	1,4 M €	+7.5%	1,3 M €	-14.4%	1,6 M €
EBITDA	1,1 M €	+12.3%	967,2 k €	-2.9%	996,2 k €	+44.5%	689,3 k €	-45.3%	1,3 M €	+70.0%	741,7 k €	+16.3%	637,5 k €	-1.1%	644,7 k €	-10.9%	723,9 k €	+37.3%	527,2 k €	-22.3%	678,7 k €	+26.1%	538,4 k €	+21.8%	442 k €	+4.6%	422,7 k €	+0.3%	421,5 k €	+73.7%	242,6 k €	-5.5%	256,8 k €	-23.0%	333,3 k €	+3.8%	321,1 k €	-44.6%	579,9 k €
Operating result	603 k €	+6.0%	568,6 k €	-19.2%	703,6 k €	+88.1%	374,1 k €	-62.0%	985,5 k €	+191%	338,7 k €	+229%	103 k €	-48.7%	200,8 k €	+93.2%	104 k €	-22.1%	133,4 k €	+14.0%	117 k €	-26.5%	159,2 k €	+6.9%	148,9 k €	+100%	74,3 k €	-51.4%	152,8 k €	+787%	17,2 k €	+134%	-50,2 k €	-1280%	4,3 k €	+107%	-59,4 k €	-147%	126 k €
Net result	416 k €	+13.7%	366 k €	-27.9%	507,4 k €	+91.8%	264,6 k €	-61.8%	692 k €	+125%	306,9 k €	+321%	72,9 k €	-63.5%	199,7 k €	+99.5%	100,1 k €	+21.7%	82,3 k €	+8.9%	75,6 k €	-50.0%	151,1 k €	+17.0%	129,2 k €	+3358%	3,7 k €	-97.4%	141,6 k €	+1004%	-15,7 k €	+85.1%	-104,9 k €	-222%	86,3 k €	+297%	-43,9 k €	-184%	52,1 k €
Balance sheet
Equity	4,3 M €	+10.7%	3,9 M €	-8.4%	4,2 M €	+13.6%	3,7 M €	+7.6%	3,5 M €	+25.0%	2,8 M €	+12.5%	2,5 M €	+3.0%	2,4 M €	+9.1%	2,2 M €	+4.8%	2,1 M €	+4.1%	2 M €	+3.9%	1,9 M €	+82.0%	1,1 M €	-38.7%	1,7 M €	+0.2%	1,7 M €	+8.9%	1,6 M €	-0.4%	1,6 M €	-6.2%	1,7 M €	+5.3%	1,6 M €	-2.6%	1,7 M €
Total assets	6,6 M €	-2.7%	6,8 M €	+6.4%	6,4 M €	+5.1%	6,1 M €	+2.4%	6 M €	+22.8%	4,8 M €	-4.7%	5,1 M €	-4.1%	5,3 M €	+3.0%	5,2 M €	+27.2%	4 M €	-4.6%	4,2 M €	+24.6%	3,4 M €	+6.9%	3,2 M €	-5.2%	3,4 M €	-8.6%	3,7 M €	+29.3%	2,8 M €	-2.6%	2,9 M €	-0.2%	2,9 M €	-2.5%	3 M €	-13.1%	3,4 M €
Cash	976,6 k €	+139%	408,5 k €	-50.1%	818,8 k €	+43.4%	570,9 k €	-45.9%	1,1 M €	+48.1%	712,1 k €	+76.8%	402,8 k €	-46.6%	755,1 k €	-4.7%	792,7 k €	+120%	360,3 k €	-27.3%	495,3 k €	+1.7%	486,8 k €	+16.7%	417,3 k €	-4.7%	438 k €	-7.5%	473,3 k €	+1273%	34,5 k €	-87.0%	265,8 k €	+364%	57,2 k €	-50.0%	114,5 k €	-74.7%	453,3 k €
Debts	2,3 M €	-17.7%	2,8 M €	+31.8%	2,2 M €	-9.1%	2,4 M €	-4.8%	2,5 M €	+20.0%	2,1 M €	-20.9%	2,6 M €	-10.0%	2,9 M €	-1.0%	2,9 M €	+51.0%	1,9 M €	-12.3%	2,2 M €	+51.3%	1,5 M €	-30.7%	2,1 M €	+30.6%	1,6 M €	-16.5%	1,9 M €	+55.2%	1,3 M €	-5.3%	1,3 M €	+8.2%	1,2 M €	-11.7%	1,4 M €	-22.8%	1,8 M €
Other
Workforce	32,9 ETP	+1.5%	32,4 ETP	+1.2%	32,0 ETP	0.0%	32,0 ETP	+6.0%	30,2 ETP	-2.3%	30,9 ETP	-4.9%	32,5 ETP	-3.3%	33,6 ETP	-0.3%	33,7 ETP	+1.8%	33,1 ETP	+0.9%	32,8 ETP	+6.5%	30,8 ETP	+4.8%	29,4 ETP	-2.0%	30,0 ETP	+3.1%	29,1 ETP	+4.7%	27,8 ETP	+1.5%	27,4 ETP	-1.1%	27,7 ETP	+3.0%	26,9 ETP	+7.6%	25,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 3 ended

Active mandates

Laurens Vulsteke

Director

Active

Martin VULSTEKE

Director

Active

Ended mandates

Martin Vulsteke

Director · since 01 janvier 1978

Ended

MARTIN VULSTEKE

Manager · since 01 janvier 1978

Ended

Martin Leon M Vulsteke

Director

Ended

At this address

Other companies at this address

Company	CBE no.
VULSTEKE RECYCLING● Active	0867.862.760

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	14/07/2026	08/07/2025	15/07/2024	13/07/2023	31/08/2022	27/08/2021
General meeting	30/06/2026	30/06/2025	30/06/2024	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

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	14/07/2026	Dutch	PDF
Abridged model	31/12/2024	30/06/2025	08/07/2025	Dutch	PDF
Abridged model	31/12/2023	30/06/2024	15/07/2024	Dutch	PDF
Abridged model	31/12/2022	30/06/2023	13/07/2023	Dutch	PDF
Abridged model	31/12/2021	30/06/2022	31/08/2022	Dutch	PDF
Abridged model	31/12/2020	30/06/2021	27/08/2021	Dutch	PDF
Abridged model	31/12/2019	30/06/2020	26/08/2020	Dutch	PDF
Abridged model	31/12/2018	30/06/2019	29/08/2019	Dutch	PDF
Abridged model	31/12/2017	30/06/2018	29/08/2018	Dutch	PDF
Abridged model	31/12/2016	30/06/2017	25/08/2017	Dutch	PDF
Abridged model	31/12/2015	30/06/2016	24/08/2016	Dutch	PDF
Abridged model	31/12/2014	30/06/2015	26/08/2015	Dutch	PDF
Abridged model	31/12/2013	30/06/2014	27/08/2014	Dutch	PDF
Abridged model	31/12/2012	30/06/2013	30/08/2013	Dutch	PDF
Abridged model	31/12/2011	30/06/2012	29/08/2012	Dutch	PDF
Abridged model	31/12/2010	30/06/2011	25/07/2011	Dutch	PDF
Abridged model	31/12/2009	30/06/2010	03/08/2010	Dutch	PDF
Abridged model	31/12/2008	30/06/2009	21/08/2009	Dutch	PDF
Abridged model	31/12/2007	27/06/2008	08/08/2008	Dutch	PDF
Abridged model	31/12/2006	29/06/2007	27/08/2007	Dutch	PDF

Estimate

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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 3 ended

Active mandates

Laurens Vulsteke

Director

Active

Martin VULSTEKE

Director

Active

Ended mandates

Martin Vulsteke

Director · since 01 janvier 1978

Ended

MARTIN VULSTEKE

Manager · since 01 janvier 1978

Ended

Martin Leon M Vulsteke

Director

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates22/02/2024
WIJZIGING RECHTSVORM - DOEL - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares05/08/2014
KAPITAAL - AANDELEN - ALGEMENE VERGADERING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office21/04/2010
MAATSCHAPPELIJKE ZETEL
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 2025416 k €↑
2024
Annual accounts 2024366 k €↓
2023
Annual accounts 2023507,4 k €↑
2022
Annual accounts 2022264,6 k €↓
2021
Annual accounts 2021692 k €↑
2020
Annual accounts 2020306,9 k €↑
2019
Annual accounts 201972,9 k €↓
2018
Annual accounts 2018199,7 k €↑
2017
Annual accounts 2017100,1 k €↑
2016
Annual accounts 201682,3 k €↑
2015
Annual accounts 201575,6 k €↓
2014
Annual accounts 2014151,1 k €↑
2013
Annual accounts 2013129,2 k €↑
2012
Annual accounts 20123,7 k €↓
2011
Annual accounts 2011141,6 k €↑
2010
Annual accounts 2010-15,7 k €↑
2009
Annual accounts 2009-104,9 k €↓
2008
Annual accounts 200886,3 k €↑
2007
Annual accounts 2007-43,9 k €↓
2006
Annual accounts 200652,1 k €
12/11/1976
IncorporationPrivate 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

VERVOERONDERNEMING VULSTEKE

Overview

What does VERVOERONDERNEMING VULSTEKE 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