ACTIVE

VAB

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Financial year 2025 · closed on 31/12/2025

Net result

6,5 M €

+1197.5% YoY

Revenue

237,2 M €

-0.3% YoY

Equity

65,6 M €

+10.8% YoY

Workforce

634,3 ETP

-19.8% YoY

What does VAB do?

VAB is a Public limited company incorporated in 1988. Its main activity is: Maintenance and repair of motor vehicles. Its registered office is in Beveren-Kruibeke-Zwijndrecht. It employs on average 634,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0436.267.594

Incorporation

20/12/1988

Legal form

Public limited company

Registered office

Pastoor Coplaan 100
2070 Beveren-Kruibeke-Zwijndrecht · FlandreSee on map

Contributed capital

3 289 372,35 €

Latest accounts

31/12/2025

Average workforce

634,3 ETP

Activities (NACE)

45201Maintenance and repair of motor vehicles· main 50200Sea and coastal freight water transport 52210Service activities incidental to land transportation 52210Service activities incidental to land transportation 63210Information service activities 95311Repair of computers and personal and household goods+12

Joint committees (4)

Contacts

2 public details availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 16 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2008
Income statement
Revenue	237,2 M €	-0.3%	237,8 M €	+4.2%	228,2 M €	+2.4%	222,7 M €	+22.8%	181,4 M €	+6.2%	170,7 M €	-10.6%	190,9 M €	+5.8%	180,5 M €	+7.9%	167,3 M €	+7.1%	156,1 M €	+0.0%	156,1 M €	-0.7%	157,2 M €	-0.4%	157,8 M €	+4.7%	150,7 M €	+6.1%	142,1 M €	+53.5%	92,6 M €
EBITDA	26,4 M €	+53.0%	17,3 M €	+58.0%	10,9 M €	-34.9%	16,8 M €	-13.4%	19,4 M €	-11.0%	21,8 M €	+33.9%	16,3 M €	+1.0%	16,1 M €	+9.9%	14,7 M €	+5.3%	13,9 M €	-18.7%	17,1 M €	+7.8%	15,9 M €	+11.8%	14,2 M €	+23.9%	11,5 M €	-3.9%	11,9 M €	+11.9%	10,7 M €
Operating result	9,4 M €	+504%	1,6 M €	+156%	-2,8 M €	-159%	4,7 M €	-37.6%	7,6 M €	-27.4%	10,4 M €	+58.4%	6,6 M €	-17.7%	8 M €	-2.3%	8,2 M €	-2.6%	8,4 M €	-28.7%	11,8 M €	+11.0%	10,6 M €	+11.3%	9,6 M €	+28.8%	7,4 M €	-4.4%	7,8 M €	+19.8%	6,5 M €
Net result	6,5 M €	+1198%	500,9 k €	+120%	-2,5 M €	-172%	3,5 M €	-37.5%	5,6 M €	-50.2%	11,2 M €	+124%	5 M €	-11.7%	5,7 M €	-1.0%	5,7 M €	-1.2%	5,8 M €	+4.8%	5,5 M €	-34.2%	8,4 M €	+29.5%	6,5 M €	+29.3%	5 M €	-33.9%	7,6 M €	+150%	-15,2 M €
Balance sheet
Equity	65,6 M €	+10.8%	59,2 M €	+0.9%	58,7 M €	-4.1%	61,2 M €	+3.1%	59,4 M €	+7.1%	55,5 M €	+18.5%	46,8 M €	+12.0%	41,8 M €	+9.0%	38,3 M €	+10.5%	34,7 M €	+12.0%	31 M €	+11.7%	27,7 M €	+15.6%	24 M €	+3.8%	23,1 M €	+0.1%	23,1 M €	+735%	2,8 M €
Total assets	137,2 M €	+5.2%	130,4 M €	-2.1%	133,3 M €	+2.3%	130,3 M €	+8.2%	120,4 M €	+9.5%	110 M €	+5.0%	104,7 M €	+7.5%	97,4 M €	+3.0%	94,5 M €	+7.0%	88,3 M €	+10.7%	79,8 M €	+4.1%	76,6 M €	+9.9%	69,7 M €	+6.8%	65,3 M €	+5.7%	61,8 M €	+48.2%	41,7 M €
Cash	14,4 M €	+20.8%	11,9 M €	+16.2%	10,3 M €	-59.5%	25,4 M €	-24.0%	33,4 M €	+45.1%	23 M €	+0.5%	22,9 M €	+10.1%	20,8 M €	-17.0%	25 M €	+6.3%	23,5 M €	-4.6%	24,7 M €	+66.5%	14,8 M €	+65.2%	9 M €	-15.4%	10,6 M €	-18.2%	13 M €	+944%	1,2 M €
Debts	39,1 M €	+2.5%	38,2 M €	-13.4%	44,1 M €	+35.5%	32,6 M €	+21.0%	26,9 M €	+22.9%	21,9 M €	-9.8%	24,3 M €	-2.8%	25 M €	-1.4%	25,3 M €	+3.7%	24,4 M €	+16.9%	20,9 M €	-21.5%	26,6 M €	+12.7%	23,6 M €	+12.3%	21 M €	+19.6%	17,6 M €	-0.3%	17,6 M €
Other
Workforce	634,3 ETP	-19.8%	790,9 ETP	+5.4%	750,7 ETP	+6.2%	707,1 ETP	-1.0%	714,1 ETP	-0.2%	715,2 ETP	+11.0%	644,5 ETP	+6.6%	604,7 ETP	+2.3%	591,1 ETP	+4.1%	567,8 ETP	+3.7%	547,8 ETP	+1.2%	541,4 ETP	+1.0%	536,1 ETP	+3.7%	517,0 ETP	+2.2%	505,9 ETP	+21.6%	416,1 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 31/12/2025 · 4 active · 34 ended

Active mandates

MICHAEL GABRIËLS

Director · since 01 septembre 2025 · until 05 juin 2026

Active

GEERT MARKEY

Managing director · since 06 juin 2025 · until 02 juin 2028

Active

JAN VAN HOVE

Director · since 06 juin 2025 · until 01 septembre 2025

Active

NELE VANDAELE

Chairman of the board of directors · since 06 juin 2025 · until 02 juin 2028

Active

Ended mandates

GEERT MARKEY

Managing director · since 03 juin 2022 · until 06 juin 2025

Ended

JAN VAN HOVE

Director · since 03 juin 2022 · until 06 juin 2025

Ended

NELE VANDAELE

Chairman of the board of directors · since 03 juin 2022 · until 06 juin 2025

Ended

Jan Van Hove

Director · since 04 juin 2021 · until 03 juin 2022

Ended

At this address

Other companies at this address

Company	CBE no.
24+● Active	0895.810.836
Groep VAB● Active	0456.920.676
VAB● Active	0736.755.382
VAB Automotive Solutions● Active	0866.583.053
VAB Training & Consult● Active	0435.357.180
VAB Wegenwacht● Active	0459.070.118

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	01/01/2025	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	30/06/2026	24/06/2025	04/07/2024	02/01/2024	13/06/2022	07/06/2021
General meeting	05/06/2026	06/06/2025	07/06/2024	02/06/2023	03/06/2022	04/06/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	05/06/2026	30/06/2026	Dutch	PDF
Full model	31/12/2024	06/06/2025	24/06/2025	Dutch	PDF
Full model	31/12/2023	07/06/2024	04/07/2024	Dutch	PDF
Full modelCorrection	31/12/2022	02/06/2023	02/01/2024	Dutch	PDF
Full model	31/12/2022	02/06/2023	21/07/2023	Dutch	PDF
Full model	31/12/2021	03/06/2022	13/06/2022	Dutch	PDF
Full model	31/12/2020	04/06/2021	07/06/2021	Dutch	PDF
Full model	31/12/2019	05/06/2020	09/06/2020	Dutch	PDF
Full model	31/12/2018	07/06/2019	19/06/2019	Dutch	PDF
Full model	31/12/2017	01/06/2018	11/06/2018	Dutch	PDF
Full model	31/12/2016	02/06/2017	06/06/2017	Dutch	PDF
Full model	31/12/2015	03/06/2016	09/06/2016	Dutch	PDF
Full model	31/12/2014	05/06/2015	30/06/2015	Dutch	PDF
Full model	31/12/2013	06/06/2014	18/06/2014	Dutch	PDF
Full model	31/12/2012	07/06/2013	10/06/2013	Dutch	PDF
Full model	31/12/2011	01/06/2012	04/06/2012	Dutch	PDF
Full model	31/12/2010	03/06/2011	07/06/2011	Dutch	PDF
Full model	31/12/2009	04/06/2010	09/06/2010	Dutch	PDF
Full model	31/12/2008	05/06/2009	24/06/2009	Dutch	PDF
Full model	31/12/2007	06/06/2008	25/06/2008	Dutch	PDF
Full model	31/12/2006	14/06/2007	27/06/2007	Dutch	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 31/12/2025 · 4 active · 34 ended

Active mandates

MICHAEL GABRIËLS

Director · since 01 septembre 2025 · until 05 juin 2026

Active

GEERT MARKEY

Managing director · since 06 juin 2025 · until 02 juin 2028

Active

JAN VAN HOVE

Director · since 06 juin 2025 · until 01 septembre 2025

Active

NELE VANDAELE

Chairman of the board of directors · since 06 juin 2025 · until 02 juin 2028

Active

Ended mandates

GEERT MARKEY

Managing director · since 03 juin 2022 · until 06 juin 2025

Ended

JAN VAN HOVE

Director · since 03 juin 2022 · until 06 juin 2025

Ended

NELE VANDAELE

Chairman of the board of directors · since 03 juin 2022 · until 06 juin 2025

Ended

Jan Van Hove

Director · since 04 juin 2021 · until 03 juin 2022

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates19/06/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/09/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/07/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/09/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/02/2024
ONTSLAGEN - BENOEMINGEN
PDF
Other06/04/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates02/12/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/09/2022
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

01/07/2026
nominationWerner Eetezonne — bestuurder en gedelegeerd bestuurder
2025
Annual accounts 20256,5 M €↑
01/09/2025
nominationMichaël Gabriëls — bestuurder
23/06/2025
nominationNele Vandaele — voorzitter van de Raad van Bestuur
23/06/2025
nominationGeert Markey — gedelegeerd bestuurder
06/06/2025
reconductionJan Van Hove — bestuurder
06/06/2025
reconductionNele Vandaele — bestuurder
06/06/2025
reconductionGeert Markey — bestuurder
06/06/2025
nominationKPMG Bedrijfsrevisoren BV/SRL — commissaris
06/06/2025
nominationEllemarie Bex — vaste vertegenwoordiger
2024
Annual accounts 2024500,9 k €↑
2023
Annual accounts 2023-2,5 M €↓
2022
Annual accounts 20223,5 M €↓
03/06/2022
reconductionNele Vandaele — voorzitter van de raad van bestuur
03/06/2022
reconductionGeert Markey — gedelegeerd bestuurder
2021
Annual accounts 20215,6 M €↓
2020
Annual accounts 202011,2 M €↑
2019
Annual accounts 20195 M €↓
2018
Annual accounts 20185,7 M €↓
2017
Annual accounts 20175,7 M €↓
2016
Annual accounts 20165,8 M €↑
2015
Annual accounts 20155,5 M €↓
2014
Annual accounts 20148,4 M €↑
2013
Annual accounts 20136,5 M €↑
2012
Annual accounts 20125 M €↓
2011
Annual accounts 20117,6 M €↑
2008
Annual accounts 2008-15,2 M €
20/12/1988
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

VAB

Overview

What does VAB do?

Trend over 16 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