ACTIVE

VADELS

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Financial year 2025 · closed on 31/03/2025

Net result

5,2 k €

+364.3% YoY

Gross margin

45,8 k €

+17.0% YoY

Equity

659,7 k €

+0.8% YoY

What does VADELS do?

VADELS is a Private limited company incorporated in 1983. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in Ganshoren.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0425.166.242

Incorporation

29/12/1983

Legal form

Private limited company

Registered office

Place de la Reine Paola 11 box 6
1083 Ganshoren · BruxellesSee on map

Contributed capital

483 938,27 €

Latest accounts

31/03/2025

Activities (NACE)

68203Rental and operating of own or leased real estate· main

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	45,8 k €	+17.0%	39,2 k €	-4.9%	41,2 k €	+7.3%	38,4 k €	-19.4%	47,6 k €	+54.9%	30,7 k €	-83.2%	183,3 k €	+249%	52,5 k €	-3.2%	54,2 k €	+0.9%	53,8 k €	+0.7%	53,4 k €	-16.1%	63,7 k €	-30.1%	91,1 k €	+7.1%	85,1 k €	+23.9%	68,7 k €	-4.3%	71,8 k €	+1.4%	70,8 k €	-38.2%	114,5 k €	+2.8%	111,4 k €
EBITDA	37,2 k €	+24.3%	29,9 k €	-13.9%	34,8 k €	+8.0%	32,2 k €	-16.3%	38,5 k €	+149%	15,5 k €	-90.5%	161,9 k €	+324%	38,1 k €	-22.3%	49,1 k €	-4.9%	51,6 k €	+0.7%	51,3 k €	-16.8%	61,6 k €	-30.2%	88,3 k €	+6.5%	82,8 k €	+24.6%	66,5 k €	-4.4%	69,6 k €	+1.3%	68,7 k €	-38.5%	111,7 k €	+2.9%	108,5 k €
Operating result	31,5 k €	+30.0%	24,3 k €	+126%	10,7 k €	-64.3%	30,1 k €	-18.6%	36,9 k €	+164%	14 k €	-91.2%	159 k €	+383%	32,9 k €	-17.1%	39,7 k €	-5.9%	42,2 k €	+0.4%	42 k €	-18.1%	51,2 k €	-17.4%	62 k €	+22.9%	50,5 k €	-3.1%	52,1 k €	-6.0%	55,4 k €	+33.3%	41,6 k €	-33.8%	62,8 k €	+9.8%	57,2 k €
Net result	5,2 k €	+364%	-2 k €	+87.4%	-15,7 k €	-702%	2,6 k €	-72.4%	9,4 k €	+169%	-13,6 k €	-115%	88,4 k €	+2484%	3,4 k €	-62.6%	9,2 k €	-18.1%	11,2 k €	-41.6%	19,2 k €	-10.4%	21,4 k €	+2.4%	20,9 k €	+1.8%	20,5 k €	-12.5%	23,4 k €	-15.5%	27,7 k €	+8.7%	25,5 k €	+5.8%	24,1 k €	-6.4%	25,8 k €
Balance sheet
Equity	659,7 k €	+0.8%	654,5 k €	-0.3%	656,5 k €	-2.3%	672,1 k €	+0.4%	669,5 k €	+1.4%	660,1 k €	-2.0%	673,7 k €	+15.1%	585,3 k €	+0.6%	581,9 k €	+1.6%	572,7 k €	+2.0%	561,5 k €	+3.5%	542,4 k €	-2.6%	556,8 k €	+3.9%	535,9 k €	+4.0%	515,4 k €	+4.8%	492 k €	+6.0%	464,3 k €	+5.8%	438,8 k €	+5.8%	414,6 k €
Total assets	1,1 M €	+1.4%	1,1 M €	-0.3%	1,1 M €	-2.1%	1,1 M €	+0.7%	1,1 M €	+0.9%	1,1 M €	-1.1%	1,1 M €	+12.4%	956,7 k €	-1.7%	973,7 k €	+3.2%	943,4 k €	+1.8%	926,2 k €	-2.6%	951,4 k €	-3.0%	980,6 k €	+5.1%	932,8 k €	+1.7%	917 k €	+2.6%	894,2 k €	-18.9%	1,1 M €	+9.1%	1 M €	+2.2%	989,1 k €
Cash	56,9 k €	-16.1%	67,9 k €	-3.8%	70,6 k €	-19.7%	87,9 k €	-71.9%	312,6 k €	-1.0%	315,7 k €	-6.3%	337 k €	+54.3%	218,4 k €	-9.5%	241,4 k €	+29.0%	187,1 k €	+12.2%	166,8 k €	-0.1%	167 k €	+240%	49,2 k €	-17.2%	59,4 k €	+64.0%	36,2 k €	-37.9%	58,3 k €	-71.3%	203,5 k €	+294%	51,6 k €	+10.2%	46,9 k €
Debts	363,4 k €	+2.9%	353 k €	+0.0%	352,9 k €	-1.7%	359 k €	+1.3%	354,5 k €	-0.1%	354,7 k €	+0.5%	352,9 k €	-3.2%	364,6 k €	-5.3%	385 k €	+5.8%	363,8 k €	+1.9%	357,1 k €	-11.4%	402,9 k €	-3.6%	417,8 k €	+6.9%	390,8 k €	+10.7%	353,2 k €	+7.2%	329,6 k €	-17.4%	399,2 k €	+14.7%	348,1 k €	-3.0%	358,9 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/03/2025 · 2 active · 16 ended

Active mandates

Catherine Elpers

Director

Active

Eline Serruys

Director

Active

Ended mandates

Eline Serruys

Director · since 08 avril 2023

Ended

Catherine Elpers

Manager · since 09 novembre 2015

Ended

Niki Serruys

Manager · since 09 novembre 2015

Ended

Catherine Elpers

Manager · since 11 septembre 2015

Ended

At this address

Other companies at this address

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AMBELIN HOLDINGS● Active	0811.178.534
ELDECO● Active	0882.892.614
GOWAN BELGIUM● Active	0653.860.865
GREENSQUARE● Active	0677.939.136

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/04/2024	01/04/2023	01/04/2022	01/04/2021	01/04/2020	01/04/2019
Closing of the financial year	31/03/2025	31/03/2024	31/03/2023	31/03/2022	31/03/2021	31/03/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	29/10/2025	23/10/2024	23/10/2023	27/10/2022	17/11/2021	19/11/2020
General meeting	12/09/2025	06/09/2024	08/09/2023	09/09/2022	10/09/2021	11/09/2020
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/03/2025	12/09/2025	29/10/2025	Dutch	PDF
Micro model	31/03/2024	06/09/2024	23/10/2024	Dutch	PDF
Micro model	31/03/2023	08/09/2023	23/10/2023	Dutch	PDF
Micro model	31/03/2022	09/09/2022	27/10/2022	Dutch	PDF
Micro model	31/03/2021	10/09/2021	17/11/2021	Dutch	PDF
Micro model	31/03/2020	11/09/2020	19/11/2020	Dutch	PDF
Micro model	31/03/2019	13/09/2019	28/10/2019	Dutch	PDF
Micro model	31/03/2018	14/09/2018	29/10/2018	Dutch	PDF
Micro model	31/03/2017	08/09/2017	25/10/2017	Dutch	PDF
Abridged model	31/03/2016	09/09/2016	11/10/2016	Dutch	PDF
Abridged model	31/03/2015	11/09/2015	22/10/2015	Dutch	PDF
Abridged model	31/03/2014	12/09/2014	24/10/2014	Dutch	PDF
Abridged model	31/03/2013	13/09/2013	17/10/2013	Dutch	PDF
Abridged model	31/03/2012	14/09/2012	13/11/2012	Dutch	PDF
Abridged model	31/03/2011	09/09/2011	26/10/2011	Dutch	PDF
Abridged model	31/03/2010	10/09/2010	19/10/2010	Dutch	PDF
Abridged model	31/03/2009	02/10/2009	16/11/2009	Dutch	PDF
Abridged model	31/03/2008	16/09/2008	25/09/2008	Dutch	PDF
Abridged model	31/03/2007	27/09/2007	28/09/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 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 31/03/2025 · 2 active · 16 ended

Active mandates

Catherine Elpers

Director

Active

Eline Serruys

Director

Active

Ended mandates

Eline Serruys

Director · since 08 avril 2023

Ended

Catherine Elpers

Manager · since 09 novembre 2015

Ended

Niki Serruys

Manager · since 09 novembre 2015

Ended

Catherine Elpers

Manager · since 11 septembre 2015

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates22/12/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Mandates19/05/2023
ONTSLAGEN - BENOEMINGEN - WIJZIGING RECHTSVORM
PDF
Registered office01/03/2016
Verplaatsing maatschappelijke zetel
PDF
Mandates25/11/2015
Benoeming zaakvoerder
PDF
Other16/04/2014
Statutenwijziging
PDF
Mandates10/04/2009
HERBENOEMING BESTUURDERS
PDF
Mandates08/12/2006
BENOEMING EN ONTSLAG BESTUURDER
PDF
Mandates11/02/2005
MAATSCHAPPELIJKE ZETEL - 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 20255,2 k €↑
2024
Annual accounts 2024-2 k €↑
2023
Annual accounts 2023-15,7 k €↓
2022
Annual accounts 20222,6 k €↓
2021
Annual accounts 20219,4 k €↑
2020
Annual accounts 2020-13,6 k €↓
2019
Annual accounts 201988,4 k €↑
2018
Annual accounts 20183,4 k €↓
2017
Annual accounts 20179,2 k €↓
2016
Annual accounts 201611,2 k €↓
2015
Annual accounts 201519,2 k €↓
2014
Annual accounts 201421,4 k €↑
2013
Annual accounts 201320,9 k €↑
2012
Annual accounts 201220,5 k €↓
2011
Annual accounts 201123,4 k €↓
2010
Annual accounts 201027,7 k €↑
2009
Annual accounts 200925,5 k €↑
2008
Annual accounts 200824,1 k €↓
2007
Annual accounts 200725,8 k €
29/12/1983
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

VADELS

Overview

What does VADELS 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