ACTIVE

VANEMAR

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Financial year 2025 · closed on 31/12/2025

Net result

349,3 k €

-97.8% YoY

Gross margin

141,7 k €

+40.9% YoY

Equity

3,8 M €

-30.2% YoY

Workforce

0,0 ETP

What does VANEMAR do?

VANEMAR is a Limited partnership incorporated in 1991. Its main activity is: Activities of head offices; management consultancy activities. Its registered office is in Veurne.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0445.485.069

Incorporation

14/10/1991

Legal form

Limited partnership

Registered office

Pannestraat 106
8630 Veurne · FlandreSee on map

Contributed capital

250 000,00 €

Latest accounts

31/12/2025

Average workforce

0,0 ETP

Activities (NACE)

70321Activities of head offices; management consultancy activities· main 81100Combined facilities support activities 81100Combined facilities support activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	141,7 k €	+40.9%	100,5 k €	-27.5%	138,7 k €	-3.2%	143,3 k €	+3.4%	138,6 k €	+121%	62,7 k €	+38.8%	45,2 k €	+7.3%	42,1 k €	-4.5%	44,1 k €	+0.9%	43,7 k €	+0.9%	43,3 k €	-0.4%	43,5 k €	+2.6%	42,4 k €	+9.8%	38,6 k €	+9.1%	35,4 k €	-88.0%	294,8 k €	+704%	36,7 k €	+281%	9,6 k €
EBITDA	44 k €	-44.3%	79 k €	-33.1%	117,9 k €	-5.2%	124,4 k €	+4.7%	118,8 k €	+161%	45,5 k €	+60.8%	28,3 k €	+10.9%	25,5 k €	-7.5%	27,6 k €	+1.3%	27,2 k €	+0.9%	27 k €	-2.1%	27,6 k €	+7.2%	25,7 k €	+4.5%	24,6 k €	+15.7%	21,3 k €	-92.4%	281,3 k €	+1107%	23,3 k €	+1041%	-2,5 k €
Operating result	-18,5 k €	-131%	58,7 k €	-41.9%	101,1 k €	-15.0%	118,9 k €	+4.3%	114 k €	+191%	39,2 k €	+78.2%	22 k €	+14.4%	19,2 k €	-9.7%	21,3 k €	+1.6%	21 k €	+1.2%	20,7 k €	-2.7%	21,3 k €	+9.0%	19,5 k €	-10.8%	21,9 k €	+3.0%	21,3 k €	-92.4%	281,3 k €	+1107%	23,3 k €	+1041%	-2,5 k €
Net result	349,3 k €	-97.8%	15,6 M €	+2207%	675,7 k €	-37.9%	1,1 M €	+38.6%	785,4 k €	+7.9%	728,2 k €	+3.0%	706,8 k €	-40.9%	1,2 M €	-52.6%	2,5 M €	+1102%	209,8 k €	+2423%	8,3 k €	-92.1%	105 k €	+2077%	4,8 k €	-28.2%	6,7 k €	+84.1%	3,7 k €	-98.5%	250,9 k €	+3.7%	242 k €	+1018%	-26,4 k €
Balance sheet
Equity	3,8 M €	-30.2%	5,5 M €	+130%	2,4 M €	+39.8%	1,7 M €	+5.5%	1,6 M €	+0.3%	1,6 M €	+1.8%	1,6 M €	+0.4%	1,6 M €	-3.3%	1,6 M €	+54.0%	1,1 M €	+0.9%	1 M €	-15.5%	1,2 M €	+9.3%	1,1 M €	+0.4%	1,1 M €	+0.6%	1,1 M €	+0.3%	1,1 M €	+29.0%	865,1 k €	+38.8%	623,1 k €
Total assets	5,8 M €	-67.5%	18 M €	+655%	2,4 M €	-14.3%	2,8 M €	+25.0%	2,2 M €	-3.7%	2,3 M €	+1.2%	2,3 M €	-20.1%	2,9 M €	-1.0%	2,9 M €	+58.9%	1,8 M €	-1.6%	1,8 M €	-0.1%	1,8 M €	-2.9%	1,9 M €	-2.6%	1,9 M €	+4.4%	1,9 M €	-1.7%	1,9 M €	-3.6%	2 M €	-1.4%	2 M €
Cash	306,2 k €	-98.3%	17,7 M €	+8392%	208 k €	-74.5%	815 k €	+7.9%	755,1 k €	+615%	105,6 k €	-86.0%	756,3 k €	-1.7%	769,5 k €	-28.8%	1,1 M €	+2478%	41,9 k €	+123%	18,8 k €	-24.5%	25 k €	+46.0%	17,1 k €	-23.5%	22,4 k €	+539%	3,5 k €	-43.7%	6,2 k €	+119%	2,8 k €	-76.3%	12 k €
Debts	2 M €	-83.8%	12,5 M €	+262304%	4,8 k €	-99.6%	1,1 M €	+79.5%	600 k €	-14.3%	700 k €	+0.0%	700 k €	-45.3%	1,3 M €	+1.9%	1,3 M €	+69.6%	740,8 k €	-1.6%	753,1 k €	+28.7%	585,3 k €	-19.0%	722,6 k €	-9.7%	799,8 k €	+13.9%	702 k €	-7.9%	762,4 k €	-26.9%	1 M €	-20.7%	1,3 M €
Other
Workforce	0,0 ETP		0,0 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

LIZZY MATTAN

Director · since 01 avril 2025 · until 17 juin 2031

Active

STEVE VANDENBERGHE

Director · since 10 août 2023 · until 19 juin 2029

Active

Ended mandates

STEVE VANDENBERGHE

Director · since 23 novembre 2020

Ended

Marnic Vandenberghe

Manager

Ended

MARNIC VANDENBERGHE

Director

Ended

At this address

Other companies at this address

Company	CBE no.
HANUMAN● Active	1041.992.410
Maatschap STEVE VANDENBERGHE● Active	0727.445.362
URQUS● Active	0894.493.121

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	11/06/2026	28/07/2025	12/06/2024	02/08/2023	25/05/2022	07/06/2021
General meeting	31/03/2026	21/03/2025	15/03/2024	14/03/2023	11/03/2022	29/04/2021
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

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	31/03/2026	11/06/2026	Dutch	PDF
Abridged model	31/12/2024	21/03/2025	28/07/2025	Dutch	PDF
Abridged model	31/12/2023	15/03/2024	12/06/2024	Dutch	PDF
Abridged model	31/12/2022	14/03/2023	02/08/2023	Dutch	PDF
Abridged model	31/12/2021	11/03/2022	25/05/2022	Dutch	PDF
Abridged model	31/12/2020	29/04/2021	07/06/2021	Dutch	PDF
Abridged model	31/12/2019	16/06/2020	10/07/2020	Dutch	PDF
Abridged model	31/12/2018	02/07/2019	26/07/2019	Dutch	PDF
Abridged model	31/12/2017	30/03/2018	24/04/2018	Dutch	PDF
Abridged model	31/12/2016	28/02/2017	25/07/2017	Dutch	PDF
Abridged model	31/12/2015	28/02/2016	25/03/2016	Dutch	PDF
Abridged model	31/12/2014	16/06/2015	23/07/2015	Dutch	PDF
Abridged model	31/12/2013	17/06/2014	17/06/2014	Dutch	PDF
Abridged model	31/12/2012	18/06/2013	11/07/2013	Dutch	PDF
Abridged model	31/12/2011	19/06/2012	02/07/2012	Dutch	PDF
Abridged model	31/12/2010	21/06/2011	30/06/2011	Dutch	PDF
Abridged model	31/12/2009	15/06/2010	25/06/2010	Dutch	PDF
Abridged model	31/12/2008	16/06/2009	14/07/2009	Dutch	PDF
Abridged model	31/12/2007	17/06/2008	11/08/2008	Dutch	PDF
Abridged model	31/12/2006	19/06/2007	28/08/2007	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

LIZZY MATTAN

Director · since 01 avril 2025 · until 17 juin 2031

Active

STEVE VANDENBERGHE

Director · since 10 août 2023 · until 19 juin 2029

Active

Ended mandates

STEVE VANDENBERGHE

Director · since 23 novembre 2020

Ended

Marnic Vandenberghe

Manager

Ended

MARNIC VANDENBERGHE

Director

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates13/06/2025
ONTSLAGEN - BENOEMINGEN
PDF
Registered office08/01/2025
MAATSCHAPPELIJKE ZETEL
PDF
Mandates23/08/2023
ONTSLAGEN - BENOEMINGEN - WIJZIGING RECHTSVORM
PDF
Mandates17/12/2020
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares29/12/2005
WIJZIGING RECHTSVORM - ALGEMENE VERGADERING - KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates26/11/2003
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 2025349,3 k €↓
2024
Annual accounts 202415,6 M €↑
2023
Annual accounts 2023675,7 k €↓
2022
Annual accounts 20221,1 M €↑
2021
Annual accounts 2021785,4 k €↑
2018
Annual accounts 2018728,2 k €↑
2017
Annual accounts 2017706,8 k €↓
2016
Annual accounts 20161,2 M €↓
2015
Annual accounts 20152,5 M €↑
2014
Annual accounts 2014209,8 k €↑
2013
Annual accounts 20138,3 k €↓
2012
Annual accounts 2012105 k €↑
2011
Annual accounts 20114,8 k €↓
2010
Annual accounts 20106,7 k €↑
2009
Annual accounts 20093,7 k €↓
2008
Annual accounts 2008250,9 k €↑
2007
Annual accounts 2007242 k €↑
2006
Annual accounts 2006-26,4 k €
14/10/1991
IncorporationLimited partnership

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

VANEMAR

Overview

What does VANEMAR do?

Trend over 18 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