ACTIVE

VGL Infra

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Financial year 2025 · closed on 30/09/2025

Net result

186,4 k €

+486.3% YoY

Gross margin

679,2 k €

+260.6% YoY

Equity

314,4 k €

+145.7% YoY

Workforce

6,2 ETP

+37.8% YoY

What does VGL Infra do?

VGL Infra is a Public limited company incorporated in 1992. Its registered office is in Sint-Truiden. It employs on average 6,2 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0447.667.965

Incorporation

11/06/1992

Legal form

Public limited company

Registered office

Ambachtslaan 5360
3800 Sint-Truiden · FlandreSee on map

Contributed capital

62 000,00 €

Latest accounts

30/09/2025

Average workforce

6,2 ETP

Joint committees (3)

149
14901
201

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	679,2 k €	+261%	188,3 k €	-19.3%	233,3 k €	-29.4%	330,4 k €	-12.4%	377,1 k €	+40.6%	268,1 k €	-9.3%	295,5 k €	+3.8%	284,6 k €	-1.0%	287,5 k €	+22.8%	234,1 k €	-8.2%	255 k €	+11.7%	228,2 k €	+40.6%	162,2 k €	-39.5%	268,1 k €	+34.7%	199 k €	+102%	98,3 k €	+2.6%	95,9 k €	-21.1%	121,5 k €	+11.2%	109,2 k €	+6.1%	102,9 k €
EBITDA	278,3 k €	+443%	51,3 k €	+447%	9,4 k €	-75.9%	38,9 k €	-56.4%	89,2 k €	+112%	42,1 k €	-25.1%	56,3 k €	-13.8%	65,3 k €	+104%	32 k €	+119%	14,6 k €	-68.9%	47,2 k €	+134%	20,2 k €	+91.0%	10,6 k €	-86.8%	79,9 k €	+34.7%	59,3 k €	+123%	26,6 k €	-2.8%	27,3 k €	-50.5%	55,3 k €	+4.9%	52,7 k €	+34.8%	39,1 k €
Operating result	266,4 k €	+598%	38,2 k €	+212%	-34,1 k €	-1005%	-3,1 k €	-105%	67,2 k €	+114%	31,4 k €	-33.5%	47,1 k €	+17.2%	40,2 k €	+369%	8,6 k €	+168%	-12,6 k €	-153%	23,8 k €	+324%	-10,6 k €	+36.1%	-16,6 k €	-145%	36,6 k €	+283%	9,5 k €	+150%	-19,2 k €	+0.1%	-19,2 k €	-393%	6,5 k €	-45.5%	12 k €	+153%	4,7 k €
Net result	186,4 k €	+486%	31,8 k €	+187%	-36,4 k €	-1145%	-2,9 k €	-105%	54,8 k €	+138%	23 k €	-28.1%	32 k €	+41.1%	22,7 k €	+1435%	-1,7 k €	+90.3%	-17,5 k €	-221%	14,4 k €	+185%	-17 k €	+21.4%	-21,6 k €	-185%	25,4 k €	+608%	3,6 k €	+114%	-26,2 k €	+1.0%	-26,5 k €	-27409%	97 €	-97.9%	4,6 k €	+520%	739 €
Balance sheet
Equity	314,4 k €	+146%	127,9 k €	+33.1%	96,1 k €	-27.3%	132,3 k €	-2.2%	135,2 k €	-5.4%	142,9 k €	+19.2%	119,9 k €	+36.4%	87,9 k €	+34.7%	65,2 k €	-2.5%	66,9 k €	-20.7%	84,4 k €	0.0%	84,4 k €	-16.8%	101,4 k €	-17.6%	123 k €	+26.0%	97,6 k €	+3.8%	94 k €	-21.8%	120,2 k €	-18.1%	146,7 k €	+0.1%	146,6 k €	+3.2%	142,1 k €
Total assets	613,4 k €	+123%	274,9 k €	+3.7%	265,1 k €	-25.5%	356 k €	+11.4%	319,5 k €	+44.0%	221,9 k €	+14.2%	194,4 k €	-2.9%	200,1 k €	+8.7%	184,2 k €	-16.4%	220,2 k €	+16.2%	189,4 k €	-3.2%	195,7 k €	-3.4%	202,5 k €	-11.7%	229,3 k €	-10.0%	254,7 k €	+14.2%	223,1 k €	-0.6%	224,6 k €	-21.8%	287,1 k €	-22.8%	371,8 k €	+44.1%	258,1 k €
Cash	463 k €	+217%	146,2 k €		–		0 €	-100%	48,6 k €		–		26,9 k €	+200%	9 k €	-48.3%	17,3 k €	+3312%	508,4 €	-98.9%	45,7 k €	+46.7%	31,2 k €	+284%	8,1 k €	-56.2%	18,5 k €	-62.6%	49,6 k €	+134%	21,2 k €	+3032%	678 €	-96.0%	16,8 k €	-58.3%	40,2 k €	-28.9%	56,6 k €
Debts	299 k €	+103%	147 k €	-12.7%	168,3 k €	-24.7%	223,5 k €	+23.3%	181,3 k €	+130%	78,9 k €	+7.7%	73,3 k €	-33.2%	109,8 k €	-7.1%	118,2 k €	-22.6%	152,7 k €	+47.0%	103,9 k €	-6.2%	110,7 k €	+12.3%	98,5 k €	-5.7%	104,5 k €	-32.0%	153,7 k €	+19.9%	128,2 k €	+23.6%	103,8 k €	-25.8%	139,8 k €	-37.8%	224,8 k €	+94.6%	115,5 k €
Other
Workforce	6,2 ETP	+37.8%	4,5 ETP		–		–		–		5,8 ETP	+16.0%	5,0 ETP	+16.3%	4,3 ETP	-10.4%	4,8 ETP	+6.7%	4,5 ETP	-13.5%	5,2 ETP	+2.0%	5,1 ETP	+2.0%	5,0 ETP	-2.0%	5,1 ETP	+24.4%	4,1 ETP	+41.4%	2,9 ETP	+7.4%	2,7 ETP	-15.6%	3,2 ETP	+6.7%	3,0 ETP	-9.1%	3,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 1 active · 8 ended

Active mandates

VGL CONSTRUCT

Director · since 16 mai 2024 · 0669.562.690

Represented by Liesbeth Cans

Active

Ended mandates

Charles Vanaken

Director · until 16 mai 2024

Ended

Charles Vanaken

Managing director

Ended

Charles VANAKEN

Director

Ended

Johan Vanaken

Director · until 16 mai 2024

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Micro model	Micro model	Micro model	Abridged model
Start of the financial year	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	08/04/2026	18/04/2025	29/02/2024	11/04/2023	28/03/2022	31/03/2021
General meeting	27/03/2026	28/03/2025	26/02/2024	31/03/2023	25/03/2022	26/03/2021
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	30/09/2025	27/03/2026	08/04/2026	Dutch	PDF
Abridged model	30/09/2024	28/03/2025	18/04/2025	Dutch	PDF
Micro model	30/09/2023	26/02/2024	29/02/2024	Dutch	PDF
Micro model	30/09/2022	31/03/2023	11/04/2023	Dutch	PDF
Micro model	30/09/2021	25/03/2022	28/03/2022	Dutch	PDF
Abridged model	30/09/2020	26/03/2021	31/03/2021	Dutch	PDF
Abridged model	30/09/2019	27/03/2020	03/04/2020	Dutch	PDF
Abridged model	30/09/2018	29/03/2019	11/04/2019	Dutch	PDF
Abridged model	30/09/2017	30/03/2018	05/04/2018	Dutch	PDF
Abridged model	30/09/2016	31/03/2017	13/04/2017	Dutch	PDF
Abridged model	30/09/2015	25/03/2016	31/03/2016	Dutch	PDF
Abridged model	30/09/2014	27/03/2015	09/04/2015	Dutch	PDF
Abridged model	30/09/2013	28/03/2014	10/04/2014	Dutch	PDF
Abridged model	30/09/2012	22/03/2013	04/04/2013	Dutch	PDF
Abridged model	30/09/2011	23/03/2012	29/03/2012	Dutch	PDF
Abridged model	30/09/2010	25/03/2011	31/03/2011	Dutch	PDF
Abridged model	30/09/2009	26/03/2010	22/04/2010	Dutch	PDF
Abridged model	30/09/2008	27/03/2009	27/03/2009	Dutch	PDF
Abridged model	30/09/2007	28/03/2008	28/03/2008	Dutch	PDF
Abridged model	30/09/2006	30/03/2007	19/04/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 30/09/2025 · 1 active · 8 ended

Active mandates

VGL CONSTRUCT

Director · since 16 mai 2024 · 0669.562.690

Represented by Liesbeth Cans

Active

Ended mandates

Charles Vanaken

Director · until 16 mai 2024

Ended

Charles Vanaken

Managing director

Ended

Charles VANAKEN

Director

Ended

Johan Vanaken

Director · until 16 mai 2024

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Restructuring12/08/2026
PARTIËLE SPLITSING VAN “VGL INFRA” NAAR “LIVENTO”
PDF
Restructuring08/05/2026
KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Other25/09/2024
BENAMING - DOEL
PDF
Mandates07/06/2024
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Other11/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates12/04/2022
ONTSLAGEN - BENOEMINGEN
PDF
Registered office18/09/2018
MAATSCHAPPELIJKE ZETEL
PDF
Mandates31/03/2016
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 2025186,4 k €↑
2024
Annual accounts 202431,8 k €↑
2024
Name changeVGL Infra
2023
Annual accounts 2023-36,4 k €↓
2022
Annual accounts 2022-2,9 k €↓
2022
Name changeVANAKEN
2021
Annual accounts 202154,8 k €↑
2020
Annual accounts 202023 k €↓
2019
Annual accounts 201932 k €↑
2018
Annual accounts 201822,7 k €↑
2017
Annual accounts 2017-1,7 k €↑
2016
Annual accounts 2016-17,5 k €↓
2015
Annual accounts 201514,4 k €↑
2014
Annual accounts 2014-17 k €↑
2013
Annual accounts 2013-21,6 k €↓
2012
Annual accounts 201225,4 k €↑
2011
Annual accounts 20113,6 k €↑
2010
Annual accounts 2010-26,2 k €↑
2009
Annual accounts 2009-26,5 k €↓
2008
Annual accounts 200897 €↓
2007
Annual accounts 20074,6 k €↑
2006
Annual accounts 2006739 €
11/06/1992
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

VGL Infra

Overview

What does VGL Infra do?

Trend over 20 financial years

Indicative valuation

Board of directors

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