ACTIVE

V - SYSTEMS

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Financial year 2025 · closed on 31/12/2025

Net result

639,1 k €

-49.3% YoY

Gross margin

2,2 M €

-24.7% YoY

Equity

2,7 M €

+26.5% YoY

Workforce

12,5 ETP

0.0% YoY

What does V - SYSTEMS do?

V - SYSTEMS is a Private company with limited liability incorporated in 1993. Its registered office is in Deinze. It employs on average 12,5 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0450.939.934

Incorporation

02/10/1993

Legal form

Private company with limited liability

Registered office

Ter Mote 16
9850 Deinze · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Average workforce

12,5 ETP

Joint committees (3)

Contacts

1 public detail availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	2,2 M €	-24.7%	2,9 M €	+14.3%	2,5 M €	+6.4%	2,3 M €	+12.0%	2,1 M €	+22.8%	1,7 M €	-23.6%	2,2 M €	+53.2%	1,5 M €	+16.4%	1,3 M €	+28.9%	971,7 k €	-8.6%	1,1 M €	-1.8%	1,1 M €	+10.4%	980,6 k €	+17.5%	834,8 k €	+1.1%	826,1 k €	-38.8%	1,4 M €	+1.0%	1,3 M €	+12.5%	1,2 M €
EBITDA	1,4 M €	-34.4%	2,1 M €	+18.3%	1,7 M €	+7.7%	1,6 M €	+8.0%	1,5 M €	+41.0%	1,1 M €	-29.5%	1,5 M €	+81.9%	828,9 k €	+23.3%	672,1 k €	+53.4%	438,2 k €	-26.8%	598,6 k €	-14.2%	697,6 k €	+26.1%	553,4 k €	+45.7%	379,7 k €	+21.2%	313,2 k €	-57.8%	742,3 k €	-11.7%	840,6 k €	+53.5%	547,7 k €
Operating result	809,8 k €	-46.3%	1,5 M €	+21.7%	1,2 M €	+11.9%	1,1 M €	-7.2%	1,2 M €	+57.5%	757 k €	-38.7%	1,2 M €	+95.4%	632 k €	+48.6%	425,3 k €	+198%	142,5 k €	-63.2%	387,3 k €	-15.9%	460,7 k €	+36.0%	338,8 k €	+133%	145,2 k €	+46.9%	98,9 k €	-81.7%	540,1 k €	-14.7%	633,3 k €	+51.8%	417,3 k €
Net result	639,1 k €	-49.3%	1,3 M €	+31.6%	958,6 k €	+11.0%	863,5 k €	-10.8%	968,6 k €	+94.5%	498,1 k €	-51.0%	1 M €	+168%	379,9 k €	+32.2%	287,4 k €	+146%	116,9 k €	-54.9%	259,3 k €	-9.0%	284,9 k €	+53.8%	185,2 k €	+62.5%	114 k €	+41.4%	80,6 k €	-81.3%	431,6 k €	-6.8%	463 k €	+76.4%	262,5 k €
Balance sheet
Equity	2,7 M €	+26.5%	2,1 M €	+11.0%	1,9 M €	-0.3%	1,9 M €	-11.6%	2,2 M €	+75.0%	1,2 M €	-5.8%	1,3 M €	-1.0%	1,3 M €	+7.4%	1,2 M €	+5.5%	1,2 M €	-6.6%	1,3 M €	+4.9%	1,2 M €	+7.6%	1,1 M €	-2.0%	1,1 M €	-7.9%	1,2 M €	-8.8%	1,4 M €	+20.7%	1,1 M €	+30.7%	858,1 k €
Total assets	4,2 M €	-10.6%	4,7 M €	+21.2%	3,9 M €	-1.8%	3,9 M €	+2.9%	3,8 M €	+40.4%	2,7 M €	-27.9%	3,8 M €	+49.6%	2,5 M €	+7.8%	2,3 M €	+11.9%	2,1 M €	+2.9%	2 M €	+2.1%	2 M €	+7.9%	1,8 M €	-7.0%	2 M €	-0.0%	2 M €	-14.4%	2,3 M €	+7.0%	2,2 M €	+40.4%	1,5 M €
Cash	328,7 k €	-51.1%	672,4 k €	-45.0%	1,2 M €	-3.1%	1,3 M €	+16.5%	1,1 M €	+169%	401,6 k €	-29.0%	565,6 k €	+276%	150,5 k €	-57.7%	356,3 k €	+272%	95,7 k €	-51.9%	199 k €	+11.5%	178,5 k €	-75.2%	720,1 k €	+13.7%	633 k €	-8.5%	692 k €	-29.8%	986,5 k €	+14.0%	865,3 k €	+876%	88,7 k €
Debts	1,4 M €	-42.5%	2,5 M €	+32.3%	1,9 M €	-3.3%	1,9 M €	+22.6%	1,6 M €	+21.3%	1,3 M €	-42.6%	2,3 M €	+111%	1,1 M €	+12.4%	960,7 k €	+20.0%	800,6 k €	+21.8%	657,1 k €	+3.6%	634,2 k €	+11.6%	568,1 k €	-17.0%	684,7 k €	+16.5%	587,6 k €	-26.6%	801 k €	-10.3%	892,7 k €	+81.4%	492,2 k €
Other
Workforce	12,5 ETP	0.0%	12,5 ETP	-3.1%	12,9 ETP	-5.8%	13,7 ETP	+12.3%	12,2 ETP	-11.6%	13,8 ETP	-2.8%	14,2 ETP	+13.6%	12,5 ETP	+14.7%	10,9 ETP	+11.2%	9,8 ETP	+5.4%	9,3 ETP	+12.0%	8,3 ETP	-9.8%	9,2 ETP	-4.2%	9,6 ETP	0.0%	9,6 ETP	-15.0%	11,3 ETP	-3.4%	11,7 ETP	-2.5%	12,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 21 ended

Active mandates

DE-CNU

Director · 0800.113.210

Represented by Bert Cnudde

Active

STECHO

Director · 0468.745.075

Represented by Rita Van Tornhaut

Active

VT-INVEST

Director · 0883.073.845

Represented by Dirk Van Torhaut

Active

Ended mandates

DE-CNU

Director · since 01 avril 2023 · 0800.113.210

Represented by Bert Cnudde

Ended

STECHO

Director · since 01 septembre 2021 · 0468.745.075

Represented by Rita Van Tornhaut

Ended

STECHO

Director · since 01 septembre 2021 · 0468.745.075

Represented by Rita Van Tornhaut

Ended

L-CON

Director · since 30 octobre 2013 · until 01 septembre 2021 · 0838.646.855

Represented by Kristof Lievens

Ended

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	01/07/2026	10/07/2025	08/07/2024	30/05/2023	30/05/2022	15/06/2021
General meeting	30/06/2026	30/06/2025	28/06/2024	27/05/2023	28/05/2022	29/05/2021
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	30/06/2026	01/07/2026	Dutch	PDF
Abridged model	31/12/2024	30/06/2025	10/07/2025	Dutch	PDF
Abridged model	31/12/2023	28/06/2024	08/07/2024	Dutch	PDF
Abridged model	31/12/2022	27/05/2023	30/05/2023	Dutch	PDF
Abridged model	31/12/2021	28/05/2022	30/05/2022	Dutch	PDF
Abridged model	31/12/2020	29/05/2021	15/06/2021	Dutch	PDF
Abridged model	31/12/2019	30/05/2020	29/06/2020	Dutch	PDF
Abridged model	31/12/2018	27/06/2019	02/07/2019	Dutch	PDF
Abridged model	31/12/2017	30/06/2018	18/07/2018	Dutch	PDF
Abridged model	31/12/2016	30/06/2017	17/07/2017	Dutch	PDF
Abridged model	31/12/2015	30/06/2016	15/07/2016	Dutch	PDF
Abridged model	31/12/2014	30/06/2015	29/07/2015	Dutch	PDF
Abridged model	31/12/2013	31/07/2014	27/08/2014	Dutch	PDF
Abridged model	31/12/2012	29/06/2013	26/07/2013	Dutch	PDF
Abridged model	31/12/2011	26/05/2012	25/06/2012	Dutch	PDF
Abridged model	31/12/2010	30/06/2011	28/07/2011	Dutch	PDF
Abridged model	31/12/2009	30/06/2010	23/07/2010	Dutch	PDF
Abridged model	31/12/2008	31/07/2009	05/08/2009	Dutch	PDF
Abridged model	31/12/2007	31/07/2008	29/08/2008	Dutch	PDF
Abridged model	31/12/2006	31/07/2007	24/08/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 · 3 active · 21 ended

Active mandates

DE-CNU

Director · 0800.113.210

Represented by Bert Cnudde

Active

STECHO

Director · 0468.745.075

Represented by Rita Van Tornhaut

Active

VT-INVEST

Director · 0883.073.845

Represented by Dirk Van Torhaut

Active

Ended mandates

DE-CNU

Director · since 01 avril 2023 · 0800.113.210

Represented by Bert Cnudde

Ended

STECHO

Director · since 01 septembre 2021 · 0468.745.075

Represented by Rita Van Tornhaut

Ended

STECHO

Director · since 01 septembre 2021 · 0468.745.075

Represented by Rita Van Tornhaut

Ended

L-CON

Director · since 30 octobre 2013 · until 01 septembre 2021 · 0838.646.855

Represented by Kristof Lievens

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates04/09/2026
Benoeming bestuurder - volmacht
PDF
Mandates31/12/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/06/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/11/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/09/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/02/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/11/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/05/2016
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 2025639,1 k €↓
2024
Annual accounts 20241,3 M €↑
2023
Annual accounts 2023958,6 k €↑
2022
Annual accounts 2022863,5 k €↓
2021
Annual accounts 2021968,6 k €↑
2018
Annual accounts 2018498,1 k €↓
2017
Annual accounts 20171 M €↑
2016
Annual accounts 2016379,9 k €↑
2015
Annual accounts 2015287,4 k €↑
2014
Annual accounts 2014116,9 k €↓
2013
Annual accounts 2013259,3 k €↓
2012
Annual accounts 2012284,9 k €↑
2011
Annual accounts 2011185,2 k €↑
2010
Annual accounts 2010114 k €↑
2009
Annual accounts 200980,6 k €↓
2008
Annual accounts 2008431,6 k €↓
2007
Annual accounts 2007463 k €↑
2006
Annual accounts 2006262,5 k €
02/10/1993
IncorporationPrivate company with limited liability

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

V - SYSTEMS

Overview

What does V - SYSTEMS do?

Trend over 18 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