ACTIVE

Waak Maatwerkbedrijf VZW

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Financial year 2025 · Closed on 31/12/2025

Net result-386,8 k €-6,3 %over 1 year

Revenue37,7 M €+3,0 %over 1 year

Equity44 M €-1,1 %over 1 year

Workforce1 592,1 ETP-3,1 %over 1 year

Identity

Source · BCE/KBO

Waak Maatwerkbedrijf VZW is a Non-profit organization incorporated in 1989. Its main activity is: Technical and vocational secondary education. Its registered office is in Kuurne. It employs on average 1 592,1 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0439.993.582
Incorporation: 04/09/1989
Legal form: Non-profit organization
Registered office: Heirweg 125
8520 Kuurne · FlandreSee on map
Latest accounts: 31/12/2025
Average workforce: 1 592,1 ETP

Activities (NACE)

85322Technical and vocational secondary education· main 88993Other social work activities without accommodation n.e.c.88995Other social work activities without accommodation n.e.c.

Joint committees (1)

32701

Signals

Solid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 20 filings

Trend over 17 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	37,7 M €	+3.0%	36,6 M €	-19.7%	45,5 M €	-10.1%	50,6 M €	+7.1%	47,3 M €
EBITDA	1,7 M €	-7.8%	1,8 M €	-24.7%	2,4 M €	-41.6%	4,2 M €	-13.4%	4,8 M €
Operating result	-690,4 k €	-34.1%	-514,9 k €	-216%	443 k €	-75.2%	1,8 M €	-37.7%	2,9 M €
Net result	-386,8 k €	-6.3%	-363,8 k €	-165%	563,4 k €	-71.0%	1,9 M €	-38.6%	3,2 M €
Balance sheet
Equity	44 M €	-1.1%	44,5 M €	-1.0%	45 M €	+1.0%	44,6 M €	+4.4%	42,7 M €
Total assets	53,8 M €	-2.6%	55,3 M €	-5.9%	58,8 M €	+0.3%	58,6 M €	+3.5%	56,6 M €
Cash	3,5 M €	-8.5%	3,8 M €	-31.3%	5,5 M €	+276%	1,5 M €	-5.7%	1,5 M €
Debts	6,3 M €	-9.6%	6,9 M €	-14.1%	8,1 M €	-0.1%	8,1 M €	+1.6%	7,9 M €
Other
Workforce	1 592,1 ETP	-3.1%	1 643,2 ETP	-4.1%	1 713,9 ETP	-0.8%	1 728,0 ETP	+0.5%	1 719,4 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

8 active · 73 ended

Active mandates

Director	Function	Mandate	Other mandatescurrentendedstruck offbankruptcies
MARIAN RAPSAET	Director	29/04/2025 → 30/06/2030	000
DONALD DEFOORT	Director	06/12/2022 → 30/06/2027	0
GEERT BUYSE	Director	06/12/2022 → 30/06/2027	000
HENDRIK DERUYCK	Director	06/12/2022 → 30/06/2027	00
JAN VANDROMME	Director	06/12/2022 → 30/06/2027	0
LUC KEPPENS	Chairman of the board of directors	06/12/2022 → 30/06/2027	000
MIA CATTEBEKE	Director	06/12/2022 → 30/06/2027	0
TIM VANNIEUWENHUYSE	Managing director	23/04/2019 → 30/06/2029	000

Ended mandates

Director	Function	Mandate	Other mandatescurrentendedstruck offbankruptcies
LUC KEPPENS	Director	06/12/2022 → 30/06/2027	000
JAN SEYNAEVE	Director	23/04/2019 → 03/04/2023
JAN SEYNAEVE	Director	23/04/2019 → 24/04/2024
JAN SEYNHAEVE	Director	23/04/2019 → 24/04/2024	0

Other companies at this address

Heirweg 125 8520 Kuurne

Company	CBE no.
de branding WAAK VZW● Active	0441.399.092
Nirometal● Liquidation	0412.576.434
WAAK MAATWERKBEDRIJF "WSW"● Active	0457.351.040
WAAK MWB-BRAND● Active	0677.493.530

Full financial information

Source · NBB

	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	13/05/2026	16/05/2025	06/05/2024	21/04/2023	05/05/2022	17/05/2021
General meeting	28/04/2026	29/04/2025	23/04/2024	03/04/2023	26/04/2022	27/04/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	28/04/2026	13/05/2026	Dutch	PDF
Full model	31/12/2024	29/04/2025	16/05/2025	Dutch	PDF
Full model	31/12/2023	23/04/2024	06/05/2024	Dutch	PDF
Full model	31/12/2022	03/04/2023	21/04/2023	Dutch	PDF
Full model	31/12/2021	26/04/2022	05/05/2022	Dutch	PDF
Full model	31/12/2020	27/04/2021	17/05/2021	Dutch	PDF
Full model	31/12/2019	07/07/2020	13/07/2020	Dutch	PDF
Full model	31/12/2018	23/04/2019	07/05/2019	Dutch	PDF
Full model	31/12/2017	16/04/2018	04/05/2018	Dutch	PDF
Full model	31/12/2016	25/04/2017	09/05/2017	Dutch	PDF
Full model	31/12/2015	25/04/2016	20/05/2016	Dutch	PDF
Full model	31/12/2014	20/04/2015	07/05/2015	Dutch	PDF
Full model	31/12/2013	07/04/2014	27/05/2014	Dutch	PDF
Full model	31/12/2012	08/04/2013	22/05/2013	Dutch	PDF
Full model	31/12/2011	02/04/2012	24/05/2012	Dutch	PDF
Full model	31/12/2010	04/04/2011	22/06/2011	Dutch	PDF
Full model	31/12/2009	29/03/2010	16/04/2010	Dutch	PDF
Full model	31/12/2008	30/03/2009	07/05/2009	Dutch	PDF
Full model	31/12/2007	03/04/2008	23/04/2008	Dutch	PDF
Full model	31/12/2006	26/03/2007	28/01/2008	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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.

Board of directors

Source · NBB, accounts to 31/12/2025

8 active · 73 ended

Active mandates

Director	Function	Mandate	Other mandatescurrentendedstruck offbankruptcies
MARIAN RAPSAET	Director	29/04/2025 → 30/06/2030	000
DONALD DEFOORT	Director	06/12/2022 → 30/06/2027	0
GEERT BUYSE	Director	06/12/2022 → 30/06/2027	000
HENDRIK DERUYCK	Director	06/12/2022 → 30/06/2027	00
JAN VANDROMME	Director	06/12/2022 → 30/06/2027	0
LUC KEPPENS	Chairman of the board of directors	06/12/2022 → 30/06/2027	000
MIA CATTEBEKE	Director	06/12/2022 → 30/06/2027	0
TIM VANNIEUWENHUYSE	Managing director	23/04/2019 → 30/06/2029	000

Ended mandates

Director	Function	Mandate	Other mandatescurrentendedstruck offbankruptcies
LUC KEPPENS	Director	06/12/2022 → 30/06/2027	000
JAN SEYNAEVE	Director	23/04/2019 → 03/04/2023
JAN SEYNAEVE	Director	23/04/2019 → 24/04/2024
JAN SEYNHAEVE	Director	23/04/2019 → 24/04/2024	0

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates11/06/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/10/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/05/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/04/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/01/2023
BENAMING - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates06/12/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/05/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/06/2018
ONTSLAGEN - BENOEMINGEN
PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

28/04/2026
nominationKathy Dewitte · bestuurder
28/04/2026
nominationMarie-Paule Bibaert · bestuurder
2025
Annual accounts 2025-386,8 k €↓
29/04/2025
nominationMarian Rapsaet · bestuurder
2024
Annual accounts 2024-363,8 k €↓
23/04/2024
reconductionTim VANNIEUWENHUYSE · bestuurder
2023
Annual accounts 2023563,4 k €↓
2022
Annual accounts 20221,9 M €↓
2022
Name changeWaak Maatwerkbedrijf VZW
06/12/2022
reconductionDEFOORT Donald · bestuurder
06/12/2022
reconductionMia CATTEBEKE · bestuurder
06/12/2022
reconductionDERUYCK Hendrik · bestuurder
06/12/2022
reconductionBUYSE GEERT · bestuurder
06/12/2022
reconductionVANDROMME Jan · bestuurder
06/12/2022
nominationLuc KEPPENS · bestuurder
2021
Annual accounts 20213,2 M €↑
27/04/2021
reconductionCVBA Baker Tilly Belgium Bedrijfsrevisoren · commissaris
2020
Annual accounts 20202,6 M €↑
2019
Annual accounts 20191,3 M €↑
2018
Annual accounts 2018262,5 k €↓
2017
Annual accounts 20171 M €↑
2015
Annual accounts 2015216,6 k €↑
2014
Annual accounts 2014-737,8 k €↑
2013
Annual accounts 2013-884,7 k €↑
2012
Annual accounts 2012-1,7 M €↓
2011
Annual accounts 2011-80,3 k €↓
2010
Annual accounts 20101,5 M €↑
2009
Annual accounts 2009752,7 k €↑
2008
Annual accounts 2008-439,5 k €
04/09/1989
IncorporationNon-profit organization

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
Waak Maatwerkbedrijf VZWCurrent	accounts 2022 → 2025 · CBE, tracked since 27/09/2026	Accounts 2025 · 2026-00111120
WAAK-BW	accounts 2021	Accounts 2021 · 2022-20022324

Annual accounts date a value by the financial year it appears in. The CBE dates a change to the day, but its history has only been kept since 27/09/2026.

Waak Maatwerkbedrijf VZW

Overview

Identity

Financials

Valuation

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

Timeline

Company names