ACTIVE

VEFA

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Financial year 2025 · closed on 31/12/2025

Net result

-103,9 k €

-456.9% YoY

Revenue

128,1 k €

+6.7% YoY

Equity

427,4 k €

-19.6% YoY

What does VEFA do?

VEFA is a Public limited company incorporated in 1993. Its registered office is in Antwerpen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0450.587.071

Incorporation

14/07/1993

Legal form

Public limited company

Registered office

Brederodestraat 191
2018 Antwerpen · FlandreSee on map

Contributed capital

475 956,00 €

Latest accounts

31/12/2025

Signals

Solid equity

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	128,1 k €	+6.7%	120 k €	+18.2%	101,5 k €	+7.0%	94,8 k €	+5.0%	90,4 k €		–		–		–		–		–		–		–		–		–		–		62,5 k €	+34.3%	46,6 k €		–
EBITDA	-68,9 k €	-188%	78,3 k €	+2.1%	76,7 k €	-66.3%	227,5 k €	+392%	46,2 k €	+213%	-40,9 k €	-176%	53,5 k €	-26.4%	72,7 k €	-17.9%	88,5 k €	+118%	40,7 k €	+14.6%	35,5 k €	+129%	15,5 k €	-34.9%	23,8 k €	-24.8%	31,7 k €	+85.0%	17,1 k €	-55.6%	38,6 k €	+651%	-7 k €	-127%	25,8 k €
Operating result	-103,9 k €	-339%	43,4 k €	+3.8%	41,8 k €	-78.3%	192,7 k €	+8751%	2,2 k €	+103%	-84,9 k €	-2711%	3,3 k €	-85.5%	22,5 k €	-41.4%	38,3 k €	+867%	4 k €	-45.4%	7,3 k €	+2088%	331,8 €	-94.6%	6,2 k €	-79.3%	29,9 k €	+318%	-13,7 k €	-149%	28,2 k €	+221%	-23,4 k €	-366%	8,8 k €
Net result	-103,9 k €	-457%	29,1 k €	+2.5%	28,4 k €	-84.0%	177,7 k €	+1358%	-14,1 k €	+86.2%	-102,2 k €	-2020%	-4,8 k €	+93.1%	-69,7 k €	-384%	24,5 k €	+134%	-71,1 k €	-3574%	-1,9 k €	-386%	677,2 €	-94.6%	12,5 k €	-66.1%	37 k €	+1276%	-3,1 k €	-111%	29,1 k €	+224%	-23,5 k €	-375%	8,5 k €
Balance sheet
Equity	427,4 k €	-19.6%	531,3 k €	+5.8%	502,2 k €	+6.0%	473,8 k €	+60.0%	296,1 k €	-4.6%	310,2 k €	-20.1%	388 k €	-1.2%	392,9 k €	-15.1%	462,5 k €	+5.6%	438 k €	-14.0%	509,1 k €	-0.4%	511 k €	+0.1%	510,4 k €	+2.5%	497,8 k €	+8.0%	460,8 k €	-0.7%	464 k €	+6.7%	434,9 k €	-5.1%	458,4 k €
Total assets	1,1 M €	-14.9%	1,2 M €	-3.1%	1,3 M €	-3.2%	1,3 M €	+17.3%	1,1 M €	-7.1%	1,2 M €	-19.3%	1,5 M €	-5.9%	1,6 M €	-2.8%	1,6 M €	+29.6%	1,3 M €	+9.6%	1,2 M €	+29.9%	888,5 k €	+16.3%	764,3 k €	+53.5%	497,8 k €	+8.0%	460,8 k €	-0.7%	464,2 k €	-5.3%	490,1 k €	+6.9%	458,4 k €
Cash	22,4 k €	+35.5%	16,5 k €	+306%	4,1 k €	-62.6%	10,9 k €	+120%	4,9 k €	-62.8%	13,3 k €	+6.7%	12,5 k €	-7.8%	13,5 k €	-24.6%	17,9 k €	-78.5%	83,3 k €	+24.6%	66,8 k €	-46.5%	125 k €	+4.6%	119,4 k €	+8.9%	109,7 k €	+398%	22 k €	-62.6%	58,9 k €	-43.9%	105 k €		–
Debts	624,6 k €	-11.4%	704,9 k €	-8.8%	773 k €	-8.4%	843,5 k €	+2.0%	826,7 k €	-8.0%	898,4 k €	-19.0%	1,1 M €	-7.5%	1,2 M €	+2.0%	1,2 M €	+42.6%	825,1 k €	+28.2%	643,4 k €	+70.5%	377,5 k €	+48.7%	253,9 k €	+2072497%	12,3 €		–		205 €	-99.6%	55,1 k €		–

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 6 ended

Active mandates

Izzet Kutlu

Mandate

Active

Ended mandates

Cengiz KUTLU

Director · since 10 août 1993

Ended

Cengiz Kutlu

Director

Ended

Cengiz KUTLU

Mandate

Ended

fatih kutlu

Administrator - manager

Ended

At this address

Other companies at this address

Company	CBE no.
KUTLU● Active	0462.715.041

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	07/09/2026	30/06/2025	25/06/2024	02/08/2023	07/07/2022	31/08/2021
General meeting	23/06/2026	24/06/2025	25/06/2024	28/06/2023	29/06/2022	30/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	23/06/2026	07/09/2026	Dutch	PDF
Micro model	31/12/2024	24/06/2025	30/06/2025	Dutch	PDF
Micro model	31/12/2023	25/06/2024	25/06/2024	Dutch	PDF
Micro model	31/12/2022	28/06/2023	02/08/2023	Dutch	PDF
Micro model	31/12/2021	29/06/2022	07/07/2022	Dutch	PDF
Micro model	31/12/2020	30/06/2021	31/08/2021	Dutch	PDF
Micro model	31/12/2019	01/05/2020	01/10/2020	Dutch	PDF
Micro model	31/12/2018	03/05/2019	29/08/2019	Dutch	PDF
Micro model	31/12/2017	04/05/2018	28/08/2018	Dutch	PDF
Micro model	31/12/2016	05/05/2017	28/09/2017	Dutch	PDF
Abridged model	31/12/2015	06/05/2016	01/07/2016	Dutch	PDF
Abridged model	31/12/2014	02/05/2015	19/06/2015	Dutch	PDF
Abridged model	31/12/2013	02/05/2014	13/08/2014	Dutch	PDF
Abridged model	31/12/2012	03/05/2013	31/08/2013	Dutch	PDF
Abridged model	31/12/2011	04/05/2012	30/08/2012	Dutch	PDF
Abridged model	31/12/2010	06/05/2011	30/12/2011	Dutch	PDF
Abridged model	31/12/2009	07/05/2010	31/08/2010	Dutch	PDF
Abridged model	31/12/2008	01/05/2009	31/08/2009	Dutch	PDF
Abridged model	31/12/2007	02/05/2008	31/08/2009	Dutch	PDF
Abridged model	31/12/2006	04/05/2007	31/08/2009	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 · 1 active · 6 ended

Active mandates

Izzet Kutlu

Mandate

Active

Ended mandates

Cengiz KUTLU

Director · since 10 août 1993

Ended

Cengiz Kutlu

Director

Ended

Cengiz KUTLU

Mandate

Ended

fatih kutlu

Administrator - manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates04/05/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/06/2022
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/01/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/12/2013
ONTSLAGEN - BENOEMINGEN
PDF
Registered office11/06/2013
MAATSCHAPPELIJKE ZETEL
PDF
Mandates05/06/2012
ONTSLAGEN - BENOEMINGEN
PDF
Mandates29/11/2005
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/07/2003
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 2025-103,9 k €↓
2024
Annual accounts 202429,1 k €↑
2023
Annual accounts 202328,4 k €↓
2022
Annual accounts 2022177,7 k €↑
2021
Annual accounts 2021-14,1 k €↑
2020
Annual accounts 2020-102,2 k €↓
2017
Annual accounts 2017-4,8 k €↑
2016
Annual accounts 2016-69,7 k €↓
2015
Annual accounts 201524,5 k €↑
2014
Annual accounts 2014-71,1 k €↓
2013
Annual accounts 2013-1,9 k €↓
2012
Annual accounts 2012677,2 €↓
2011
Annual accounts 201112,5 k €↓
2010
Annual accounts 201037 k €↑
2009
Annual accounts 2009-3,1 k €↓
2008
Annual accounts 200829,1 k €↑
2007
Annual accounts 2007-23,5 k €↓
2006
Annual accounts 20068,5 k €
14/07/1993
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

VEFA

Overview

What does VEFA 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