ACTIVE

VINKENEST

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Financial year 2025 · closed on 31/12/2025

Net result

-1,1 k €

-153.1% YoY

Revenue

777,2 k €

+15.3% YoY

Equity

13,3 M €

+95.2% YoY

What does VINKENEST do?

VINKENEST is a Public limited company incorporated in 1992. Its main activity is: Manufacture of central heating radiators and boilers. Its registered office is in Harelbeke.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0447.690.533

Incorporation

23/06/1992

Legal form

Public limited company

Registered office

Gentsesteenweg 224
8530 Harelbeke · FlandreSee on map

Contributed capital

12 000 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

25210Manufacture of central heating radiators and boilers· main 25210Manufacture of central heating radiators and boilers

Signals

Solid 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
Revenue	777,2 k €	+15.3%	674 k €	+0.3%	671,9 k €	-5.8%	713,5 k €	+172%	262 k €	-13.4%	302,8 k €	+1.9%	297,1 k €	-35.1%	458,1 k €	+63.7%	279,8 k €	+1.4%	275,8 k €	+14.9%	240 k €	+121%	108,5 k €		–		–		–		–		–		–		–
EBITDA	668,2 k €	+15.2%	579,9 k €	-55.9%	1,3 M €	+128%	577,2 k €	+169%	214,2 k €	-13.2%	246,7 k €	+14.1%	216,2 k €	-29.3%	305,8 k €	+27.4%	240 k €	+7.6%	223,2 k €	-1.5%	226,5 k €	+123%	101,6 k €	+19.1%	85,3 k €	-4.5%	89,3 k €	+6.0%	84,2 k €	+5.0%	80,2 k €	+11.2%	72,2 k €	-24.1%	95 k €	+68.1%	56,6 k €
Operating result	117,2 k €	+13.2%	103,5 k €	-88.9%	931 k €	+355%	204,5 k €	+400%	-68,2 k €	-281%	37,7 k €	-70.5%	127,9 k €	-43.9%	227,9 k €	+37.3%	166 k €	-13.7%	192,3 k €	-1.7%	195,7 k €	+175%	71 k €	+27.8%	55,6 k €	+26.5%	43,9 k €	+17.5%	37,4 k €	+3.3%	36,2 k €	+401%	7,2 k €	+148%	-15,1 k €	+63.1%	-41 k €
Net result	-1,1 k €	-153%	2,1 k €	-99.7%	645,8 k €	+327%	151,2 k €	+250%	-101,1 k €	-266%	60,9 k €	-53.0%	129,7 k €	-40.8%	218,9 k €	+41.8%	154,4 k €	-17.9%	188 k €	+0.9%	186,4 k €	+86.1%	100,1 k €	+72.0%	58,2 k €	+642%	7,8 k €	-67.3%	24 k €	+46.3%	16,4 k €	+228%	-12,9 k €	+62.7%	-34,4 k €	+27.0%	-47,2 k €
Balance sheet
Equity	13,3 M €	+95.2%	6,8 M €	-0.4%	6,8 M €	+8.5%	6,3 M €	+1.4%	6,2 M €	-1.6%	6,3 M €	+1.0%	6,2 M €	+68.1%	3,7 M €	+1.2%	3,7 M €	+4.4%	3,5 M €	+5.7%	3,3 M €	+5.9%	3,1 M €	+3.3%	3 M €	+53.4%	2 M €	+0.4%	2 M €	+1.2%	2 M €	+58.1%	1,2 M €	-1.0%	1,2 M €	-2.7%	1,3 M €
Total assets	14,8 M €	+27.3%	11,6 M €	+3.5%	11,2 M €	+8.4%	10,4 M €	+8.2%	9,6 M €	+2.3%	9,4 M €	+40.2%	6,7 M €	+65.8%	4 M €	+2.8%	3,9 M €	+6.9%	3,7 M €	+4.5%	3,5 M €	+4.2%	3,4 M €	-12.6%	3,9 M €	+33.9%	2,9 M €	+9.8%	2,6 M €	+15.6%	2,3 M €	+35.3%	1,7 M €	-3.3%	1,7 M €	-0.8%	1,7 M €
Cash	3,2 M €	+5181%	60,3 k €	-93.2%	892,8 k €	+18.2%	755,6 k €	+155%	296,6 k €	-81.9%	1,6 M €	+5.7%	1,5 M €	+57.2%	984,5 k €	+16.5%	844,8 k €	-5.5%	893,8 k €	+283%	233,1 k €	-53.3%	499,1 k €	-39.3%	821,7 k €	+5254%	15,3 k €	-50.1%	30,8 k €	-94.8%	597,4 k €	+1029%	52,9 k €	+30.8%	40,5 k €	-66.2%	119,6 k €
Debts	1,3 M €	-72.6%	4,6 M €	+8.1%	4,2 M €	+3.8%	4,1 M €	+20.8%	3,4 M €	+10.4%	3,1 M €	+604%	433,6 k €	+37.9%	314,5 k €	+147%	127,6 k €	-14.7%	149,6 k €	-16.8%	179,8 k €	-20.3%	225,6 k €	-72.2%	810,5 k €	-9.3%	894 k €	+38.9%	643,8 k €	+106%	312,8 k €	-28.8%	439,2 k €	-9.5%	485,4 k €	+4.6%	463,9 k €

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 · 23 ended

Active mandates

VINKENEST

Managing director · since 21 juin 2025 · until 03 juin 2031 · 0447.690.533

Represented by Peter Vyncke

Active

VYNCKE - A Family of Companies

Managing director · since 21 juin 2025 · until 03 juin 2031 · 0885.999.087

Represented by Dieter Vyncke

Active

Ended mandates

VINKENEST

Director · since 15 juin 2024 · 0447.690.533

Represented by Peter VYNCKE

Ended

Peter Vyncke

Director · since 01 juillet 2019 · until 03 juin 2025

Ended

VYNCKE - A Family of Companies

Managing director · since 01 juillet 2019 · until 03 juin 2025 · 0885.999.087

Represented by Dieter Vyncke

Ended

VYNCKE - A Family of Companies

Managing director · since 01 juillet 2019 · until 21 juin 2025 · 0885.999.087

Represented by Dieter Vyncke

Ended

At this address

Other companies at this address

Company	CBE no.
Stichting Administratiekantoor Prometheus● Active	0772.624.596
VYNCKE● Active	0447.690.830
VYNCKE/VINKENEST● Active	0597.802.783
Vyncke-Warmtetechniek● Liquidation	0412.397.676

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	14/07/2026	30/06/2025	09/07/2024	29/06/2023	13/07/2022	06/07/2021
General meeting	20/06/2026	21/06/2025	15/06/2024	10/06/2023	25/06/2022	26/06/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	20/06/2026	14/07/2026	Dutch	PDF
Full model	31/12/2024	21/06/2025	30/06/2025	Dutch	PDF
Full model	31/12/2023	15/06/2024	09/07/2024	Dutch	PDF
Full model	31/12/2022	10/06/2023	29/06/2023	Dutch	PDF
Full model	31/12/2021	25/06/2022	13/07/2022	Dutch	PDF
Full model	31/12/2020	26/06/2021	06/07/2021	Dutch	PDF
Full model	31/12/2019	20/06/2020	30/07/2020	Dutch	PDF
Full model	31/12/2018	29/06/2019	29/07/2019	Dutch	PDF
Full model	30/06/2017	29/12/2017	31/01/2018	Dutch	PDF
Full model	30/06/2016	30/12/2016	31/01/2017	Dutch	PDF
Full model	30/06/2015	29/12/2015	26/01/2016	Dutch	PDF
Full model	30/06/2014	26/12/2014	29/01/2015	Dutch	PDF
Abridged model	30/06/2013	03/12/2013	18/02/2014	Dutch	PDF
Abridged model	30/06/2012	04/12/2012	15/02/2013	Dutch	PDF
Abridged model	30/06/2011	06/12/2011	14/02/2012	Dutch	PDF
Abridged model	30/06/2010	07/12/2010	15/02/2011	Dutch	PDF
Abridged model	30/06/2009	01/12/2009	27/01/2010	Dutch	PDF
Abridged model	30/06/2008	09/12/2008	23/01/2009	Dutch	PDF
Abridged model	30/06/2007	13/12/2007	18/12/2007	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 · 23 ended

Active mandates

VINKENEST

Managing director · since 21 juin 2025 · until 03 juin 2031 · 0447.690.533

Represented by Peter Vyncke

Active

VYNCKE - A Family of Companies

Managing director · since 21 juin 2025 · until 03 juin 2031 · 0885.999.087

Represented by Dieter Vyncke

Active

Ended mandates

VINKENEST

Director · since 15 juin 2024 · 0447.690.533

Represented by Peter VYNCKE

Ended

Peter Vyncke

Director · since 01 juillet 2019 · until 03 juin 2025

Ended

VYNCKE - A Family of Companies

Managing director · since 01 juillet 2019 · until 03 juin 2025 · 0885.999.087

Represented by Dieter Vyncke

Ended

VYNCKE - A Family of Companies

Managing director · since 01 juillet 2019 · until 21 juin 2025 · 0885.999.087

Represented by Dieter Vyncke

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Capital / shares04/12/2025
KAPITAAL - AANDELEN
PDF
Mandates23/09/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/12/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/08/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/09/2022
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares06/01/2020
KAPITAAL - AANDELEN
PDF
Mandates16/12/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/07/2019
ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
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 2025-1,1 k €↓
2024
Annual accounts 20242,1 k €↓
2023
Annual accounts 2023645,8 k €↑
2022
Annual accounts 2022151,2 k €↑
2021
Annual accounts 2021-101,1 k €↓
2020
Annual accounts 202060,9 k €↓
2019
Annual accounts 2019129,7 k €↓
2018
Annual accounts 2018218,9 k €↑
2017
Annual accounts 2017154,4 k €↓
2016
Annual accounts 2016188 k €↑
2015
Annual accounts 2015186,4 k €↑
2014
Annual accounts 2014100,1 k €↑
2013
Annual accounts 201358,2 k €↑
2012
Annual accounts 20127,8 k €↓
2011
Annual accounts 201124 k €↑
2010
Annual accounts 201016,4 k €↑
2009
Annual accounts 2009-12,9 k €↑
2008
Annual accounts 2008-34,4 k €↑
2007
Annual accounts 2007-47,2 k €
23/06/1992
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

VINKENEST

Overview

What does VINKENEST 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