ACTIVE

VERDON

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Financial year 2025 · closed on 30/06/2025

Net result

11,2 M €

+131.3% YoY

Revenue

116,5 M €

+55.1% YoY

Equity

24,8 M €

+80.6% YoY

Workforce

146,0 ETP

0.0% YoY

What does VERDON do?

VERDON is a Public limited company incorporated in 1978. Its main activity is: Manufacture of central heating radiators and boilers. Its registered office is in Courcelles. It employs on average 146,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0418.364.265

Incorporation

25/05/1978

Legal form

Public limited company

Registered office

Rue de Trazegnies(CO) 124
6180 Courcelles · WallonieSee on map

Contributed capital

5 000 000,00 €

Latest accounts

30/06/2025

Average workforce

146,0 ETP

Activities (NACE)

25210Manufacture of central heating radiators and boilers· main 25300Manufacture of steam generators, except central heating hot water boilers 28300Manufacture of agricultural and forestry machinery 43211Electrical installation 43211Electrical installation 45310Wholesale trade of motor vehicle parts and accessories

Joint committees (2)

Signals

ProfitableSolid 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 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	116,5 M €	+55.1%	75,1 M €	+97.9%	38 M €	+63.3%	23,2 M €	+4.2%	22,3 M €	-13.1%	25,7 M €	-22.1%	32,9 M €	+10.5%	29,8 M €	-2.4%	30,5 M €	+4.2%	29,3 M €	-16.3%	35 M €	-1.1%	35,4 M €	+13.5%	31,2 M €	-19.0%	38,5 M €	+39.8%	27,5 M €	-30.5%	39,6 M €	+85.6%	21,3 M €	-7.5%	23,1 M €	+20.2%	19,2 M €
EBITDA	19,6 M €	+98.0%	9,9 M €	+286%	2,6 M €	+152%	1 M €	+15.4%	883,3 k €	+439%	164 k €	-55.9%	372,2 k €	+3.5%	359,6 k €	-72.0%	1,3 M €	-46.4%	2,4 M €	-2.9%	2,5 M €	+26.2%	2 M €	+58.3%	1,2 M €	-49.4%	2,4 M €	-15.7%	2,9 M €	-22.7%	3,7 M €	+76.3%	2,1 M €	+4.9%	2 M €	+83.8%	1,1 M €
Operating result	15,2 M €	+125%	6,8 M €	+656%	896,5 k €	+224%	276,9 k €	+78.8%	154,9 k €	+128%	-553,6 k €	+2.5%	-567,7 k €	-60.0%	-354,9 k €	-188%	403,3 k €	-72.9%	1,5 M €	-9.7%	1,7 M €	+43.7%	1,1 M €	+198%	385,4 k €	-75.0%	1,5 M €	-24.8%	2,1 M €	-41.5%	3,5 M €	+99.5%	1,8 M €	+73.2%	1 M €	+35.0%	752,2 k €
Net result	11,2 M €	+131%	4,8 M €	+840%	514,2 k €	+301%	128,1 k €	+547%	-28,6 k €	+94.9%	-566,2 k €	-25.3%	-452 k €	-34.2%	-336,9 k €	-275%	192,5 k €	-76.8%	828,9 k €	-28.1%	1,2 M €	+90.2%	606,5 k €	+390%	123,8 k €	-88.3%	1,1 M €	-24.9%	1,4 M €	-46.4%	2,6 M €	+127%	1,2 M €	+75.8%	656,9 k €	+29.7%	506,5 k €
Balance sheet
Equity	24,8 M €	+80.6%	13,7 M €	+53.3%	8,9 M €	+6.0%	8,4 M €	+1.4%	8,3 M €	-0.5%	8,4 M €	-6.5%	8,9 M €	-5.6%	9,5 M €	-3.9%	9,9 M €	+1.3%	9,7 M €	+5.4%	9,2 M €	+9.1%	8,5 M €	+10.2%	7,7 M €	+0.6%	7,6 M €	+10.6%	6,9 M €	+14.7%	6 M €	+63.0%	3,7 M €	+46.6%	2,5 M €	+27.0%	2 M €
Total assets	79,9 M €	+50.2%	53,2 M €	+75.6%	30,3 M €	+80.3%	16,8 M €	+10.3%	15,2 M €	+2.4%	14,9 M €	-5.4%	15,7 M €	+7.1%	14,7 M €	-27.0%	20,1 M €	-14.7%	23,6 M €	+57.0%	15 M €	-22.9%	19,5 M €	-0.9%	19,7 M €	+18.1%	16,7 M €	-43.8%	29,6 M €	+41.0%	21 M €	-41.6%	36 M €	+292%	9,2 M €	-17.5%	11,1 M €
Cash	7,5 M €	-11.0%	8,4 M €	+242%	2,5 M €	-12.6%	2,8 M €	+63.2%	1,7 M €	-54.0%	3,7 M €	+137%	1,6 M €	-53.4%	3,4 M €	+64.4%	2,1 M €	-21.0%	2,6 M €	-21.0%	3,3 M €	+31.0%	2,5 M €	-40.9%	4,3 M €	+21.8%	3,5 M €	-20.9%	4,4 M €	+38.8%	3,2 M €	+14.0%	2,8 M €	+215%	888,2 k €	-18.7%	1,1 M €
Debts	54,4 M €	+39.6%	39 M €	+85.8%	21 M €	+151%	8,4 M €	+20.9%	6,9 M €	+6.2%	6,5 M €	-4.5%	6,8 M €	+32.3%	5,1 M €	-49.5%	10,2 M €	-25.7%	13,7 M €	+142%	5,7 M €	-48.0%	10,9 M €	-8.5%	11,9 M €	+33.4%	9 M €	-60.5%	22,7 M €	+51.8%	14,9 M €	-53.6%	32,2 M €	+387%	6,6 M €	-27.0%	9,1 M €
Other
Workforce	146,0 ETP	0.0%	146,0 ETP	+9.8%	133,0 ETP	-1.5%	135,0 ETP	-0.7%	136,0 ETP	0.0%	136,0 ETP	-7.6%	147,2 ETP	-5.6%	156,0 ETP	-1.3%	158,0 ETP	-1.7%	160,8 ETP	-1.0%	162,5 ETP	+18.2%	137,5 ETP	+4.1%	132,1 ETP	+12.1%	117,8 ETP	+13.8%	103,5 ETP	+13.9%	90,9 ETP	+13.9%	79,8 ETP	-4.7%	83,7 ETP	-7.1%	90,1 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2025 · 3 active · 9 ended

Active mandates

Dario Vergnasco

Managing director · since 31 décembre 2019 · until 30 décembre 2025

Active

FINANCIERE INDUSTRIELLE DE GESTION

Director · since 31 décembre 2019 · until 30 décembre 2025 · 0443.078.677

Represented by Dario Vergnasco

Active

Massimo Vergnasco

Managing director · since 31 décembre 2019 · until 30 décembre 2025

Active

Ended mandates

Dario Vergnasco

Managing director · since 31 décembre 2013 · until 30 décembre 2019

Ended

FINANCIERE INDUSTRIELLE DE GESTION

Director · since 31 décembre 2013 · until 30 décembre 2019 · 0443.078.677

Represented by Dario Vergnasco

Ended

Massimo Vergnasco

Managing director · since 31 décembre 2013 · until 30 décembre 2019

Ended

Dario Vergnasco

Managing director · since 30 décembre 2007 · until 30 décembre 2013

Ended

At this address

Other companies at this address

Company	CBE no.
AGENCE MULTI PRODUITS● Active	0438.722.387
BALEINE WASH● Active	0825.557.892
HOLDINGEST● Active	0812.146.950

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	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	12/01/2026	22/01/2025	21/01/2025	09/01/2023	18/11/2022	22/02/2021
General meeting	17/12/2025	18/12/2024	20/12/2023	21/12/2022	21/12/2021	19/01/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	30/06/2025	17/12/2025	12/01/2026	French	PDF
Full model	30/06/2024	18/12/2024	22/01/2025	French	PDF
Full modelCorrection	30/06/2023	20/12/2023	21/01/2025	French	PDF
Full model	30/06/2023	20/12/2023	30/01/2024	French	PDF
Full model	30/06/2022	21/12/2022	09/01/2023	French	PDF
Full modelCorrection	30/06/2021	21/12/2021	18/11/2022	French	PDF
Full model	30/06/2021	21/12/2021	31/12/2021	French	PDF
Full model	30/06/2020	19/01/2021	22/02/2021	French	PDF
Full model	30/06/2019	15/01/2020	29/01/2020	French	PDF
Full model	31/12/2017	19/06/2018	05/09/2018	French	PDF
Full model	31/12/2016	20/06/2017	01/08/2017	French	PDF
Full model	31/12/2015	21/06/2016	08/08/2016	French	PDF
Full model	31/12/2014	16/06/2015	01/07/2015	French	PDF
Full model	31/12/2013	17/06/2014	18/06/2014	French	PDF
Full model	31/12/2012	25/06/2013	29/07/2013	French	PDF
Full model	31/12/2011	19/06/2012	30/07/2012	French	PDF
Full model	31/12/2010	21/06/2011	29/08/2011	French	PDF
Full model	31/12/2009	15/06/2010	25/08/2010	French	PDF
Full model	31/12/2008	16/06/2009	26/08/2009	French	PDF
Full model	31/12/2007	16/06/2008	18/08/2008	French	PDF
Full model	31/12/2006	19/06/2007	10/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 M€ and 250 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 30/06/2025 · 3 active · 9 ended

Active mandates

Dario Vergnasco

Managing director · since 31 décembre 2019 · until 30 décembre 2025

Active

FINANCIERE INDUSTRIELLE DE GESTION

Director · since 31 décembre 2019 · until 30 décembre 2025 · 0443.078.677

Represented by Dario Vergnasco

Active

Massimo Vergnasco

Managing director · since 31 décembre 2019 · until 30 décembre 2025

Active

Ended mandates

Dario Vergnasco

Managing director · since 31 décembre 2013 · until 30 décembre 2019

Ended

FINANCIERE INDUSTRIELLE DE GESTION

Director · since 31 décembre 2013 · until 30 décembre 2019 · 0443.078.677

Represented by Dario Vergnasco

Ended

Massimo Vergnasco

Managing director · since 31 décembre 2013 · until 30 décembre 2019

Ended

Dario Vergnasco

Managing director · since 30 décembre 2007 · until 30 décembre 2013

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates05/01/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates28/02/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates28/02/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates07/01/2020
DEMISSIONS, NOMINATIONS
PDF
Mandates11/12/2019
DEMISSIONS, NOMINATIONS
PDF
Other06/09/2019
ASSEMBLEE GENERALE - ANNEE COMPTABLE
PDF
Mandates24/12/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates18/10/2018
DEMISSIONS, NOMINATIONS
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

31/12/2025
reconductionDario Vergnasco — administrateur & délégué à la Gestion Journalière
31/12/2025
reconductionMassimo Vergnasco — administrateur & délégué à la Gestion Journalière
30/06/2025
reconductionChristophe COLSON — représentant permanent (commissaire réviseur)
2025
Annual accounts 202511,2 M €↑
2024
Annual accounts 20244,8 M €↑
2023
Annual accounts 2023514,2 k €↑
30/06/2022
reconductionChristophe COLSON — représentant permanent (commissaire réviseur)
2022
Annual accounts 2022128,1 k €↑
2021
Annual accounts 2021-28,6 k €↑
2020
Annual accounts 2020-566,2 k €↓
2019
Annual accounts 2019-452 k €↓
2017
Annual accounts 2017-336,9 k €↓
2016
Annual accounts 2016192,5 k €↓
2015
Annual accounts 2015828,9 k €↓
2014
Annual accounts 20141,2 M €↑
2013
Annual accounts 2013606,5 k €↑
2012
Annual accounts 2012123,8 k €↓
2011
Annual accounts 20111,1 M €↓
2010
Annual accounts 20101,4 M €↓
2009
Annual accounts 20092,6 M €↑
2008
Annual accounts 20081,2 M €↑
2007
Annual accounts 2007656,9 k €↑
2006
Annual accounts 2006506,5 k €
25/05/1978
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

VERDON

Overview

What does VERDON do?

Trend over 19 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