ACTIVE

VLIEGEN

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Financial year 2025 · closed on 31/12/2025

Net result

232,4 k €

-18.0% YoY

Gross margin

562,1 k €

-4.9% YoY

Equity

1,8 M €

+14.8% YoY

Workforce

0,0 ETP

What does VLIEGEN do?

VLIEGEN is a Public limited company incorporated in 1993. Its main activity is: Development of building projects. Its registered office is in Beringen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0451.753.942

Incorporation

20/12/1993

Legal form

Public limited company

Registered office

Geiteling 48 box 1
3580 Beringen · FlandreSee on map

Contributed capital

78 693,99 €

Latest accounts

31/12/2025

Average workforce

0,0 ETP

Activities (NACE)

41101Development of building projects· main 68121Buying and selling of own real estate 70111Activities of head offices 68100Buying and selling of own real estate 68110Buying and selling of own real estate 69109Legal activities+3

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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	562,1 k €	-4.9%	590,8 k €	+5.4%	560,3 k €	+54.9%	361,8 k €	+24.8%	289,9 k €	+32.9%	218,2 k €	+0.4%	217,3 k €	+8.7%	199,9 k €	+224%	61,8 k €	-40.4%	103,7 k €	+20.4%	86,1 k €	-18.7%	106 k €	-21.7%	135,4 k €	+27.1%	106,5 k €	+6.5%	100,1 k €	+30.2%	76,8 k €	-15.8%	91,2 k €	+26.2%	72,3 k €	+24.8%	58 k €	-29.3%	82 k €
EBITDA	554,3 k €	-5.2%	584,4 k €	+4.4%	560 k €	+58.5%	353,3 k €	+25.7%	281,1 k €	+31.6%	213,7 k €	+1.0%	211,5 k €	+13.8%	185,9 k €	+221%	57,9 k €	-42.0%	99,9 k €	+24.7%	80,1 k €	-18.3%	98 k €	-24.8%	130,3 k €	+92.9%	67,6 k €	-29.7%	96,2 k €	+35.9%	70,8 k €	-17.0%	85,3 k €	+28.0%	66,6 k €	+29.1%	51,6 k €	-34.2%	78,5 k €
Operating result	321,2 k €	-12.6%	367,5 k €	-12.4%	419,3 k €	+39.2%	301,3 k €	+67.0%	180,4 k €	+10.3%	163,5 k €	-0.9%	164,9 k €	+13.5%	145,3 k €	+449%	26,4 k €	-53.1%	56,4 k €	+125%	25 k €	+125%	11,2 k €	-71.9%	39,7 k €	+117%	18,3 k €	-45.2%	33,4 k €	+110%	15,9 k €	-53.8%	34,5 k €	-9.2%	38 k €	+94.6%	19,5 k €	-11.9%	22,1 k €
Net result	232,4 k €	-18.0%	283,5 k €	+5.9%	267,9 k €	+6.4%	251,9 k €	+79.3%	140,5 k €	+0.7%	139,5 k €	+3.3%	135 k €	+417%	26,1 k €	+28.4%	20,3 k €	-47.7%	38,9 k €	+103%	19,2 k €	+7.1%	17,9 k €	-38.3%	29 k €	+241%	8,5 k €	-70.1%	28,4 k €	+142%	11,7 k €	-59.8%	29,1 k €	-11.2%	32,8 k €	+107%	15,8 k €	+40.7%	11,2 k €
Balance sheet
Equity	1,8 M €	+14.8%	1,6 M €	+22.0%	1,3 M €	+26.3%	1 M €	+32.8%	768,2 k €	+22.4%	627,8 k €	+28.6%	488,2 k €	+38.2%	353,2 k €	-33.9%	534,6 k €	+4.0%	514,3 k €	+8.2%	475,4 k €	+4.2%	456,2 k €	+91.4%	238,4 k €	-44.8%	431,6 k €	+2.0%	423,1 k €	+7.2%	394,7 k €	+3.1%	383 k €	+8.2%	353,9 k €	+10.2%	321,1 k €	+5.2%	305,3 k €
Total assets	2,3 M €	+6.3%	2,2 M €	+8.7%	2 M €	+11.7%	1,8 M €	+16.8%	1,6 M €	+20.5%	1,3 M €	+87.3%	686,9 k €	+30.5%	526,5 k €	-28.0%	731,5 k €	-3.7%	759,3 k €	+4.9%	723,8 k €	+27.6%	567,1 k €	-2.2%	580,1 k €	-14.5%	678,4 k €	+7.1%	633,6 k €	-15.9%	753,5 k €	+67.5%	449,9 k €	+19.6%	376,3 k €	+6.5%	353,3 k €	-2.6%	362,6 k €
Cash	1 M €	+44.2%	695 k €	+105%	338,2 k €	+56.9%	215,6 k €	+86.8%	115,4 k €	+136%	48,9 k €	-28.4%	68,2 k €	+9323%	724 €	0.0%	724 €	-82.4%	4,1 k €	+0.5%	4,1 k €	-85.4%	28 k €	+218%	8,8 k €	-85.9%	62,6 k €	-43.8%	111,4 k €	+2092%	5,1 k €	-94.9%	100,1 k €	+42.5%	70,2 k €	+44.3%	48,6 k €	+5.4%	46,2 k €
Debts	497,1 k €	-16.0%	591,9 k €	-15.3%	698,7 k €	-7.4%	754,3 k €	+1.1%	745,8 k €	+19.9%	622 k €	+284%	161,9 k €	+18.6%	136,6 k €	-14.7%	160,1 k €	-23.0%	207,9 k €	-1.4%	210,9 k €	+161%	80,9 k €	-74.1%	311,8 k €	+43.8%	216,8 k €	+3.0%	210,5 k €	-20.0%	263,3 k €	+294%	66,9 k €	+199%	22,4 k €	-30.4%	32,2 k €	-43.8%	57,3 k €
Other
Workforce	0,0 ETP		0,0 ETP		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 38 ended

Active mandates

Dieter Vliegen

Director

Active

Flybro's

Director · 0738.447.340

Represented by Kurt Vliegen

Active

Gunther Vliegen

Director

Active

Ended mandates

Dieter Vliegen

Managing director · since 28 août 2023 · until 27 août 2029

Ended

Flybro's

Managing director · since 28 août 2023 · until 27 août 2029 · 0738.447.340

Ended

Gunther Vliegen

Managing director · since 28 août 2023 · until 27 août 2029

Ended

Flybro's

Director · since 14 janvier 2020 · 0738.447.340

Ended

At this address

Other companies at this address

Company	CBE no.
Flybro's● Active	0738.447.340
Industriële Technieken Danny Vliegen● Active	0452.122.146
Team Niwidi● Active	0801.638.187

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged 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	17/07/2026	11/07/2025	16/08/2024	11/07/2023	09/09/2022	30/09/2021
General meeting	30/06/2026	30/06/2025	30/06/2024	30/06/2023	22/08/2022	31/08/2021
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	17/07/2026	Dutch	PDF
Abridged model	31/12/2024	30/06/2025	11/07/2025	Dutch	PDF
Abridged model	31/12/2023	30/06/2024	16/08/2024	Dutch	PDF
Micro model	31/12/2022	30/06/2023	11/07/2023	Dutch	PDF
Micro model	31/12/2021	22/08/2022	09/09/2022	Dutch	PDF
Micro model	31/12/2020	31/08/2021	30/09/2021	Dutch	PDF
Micro model	31/12/2019	08/09/2020	12/10/2020	Dutch	PDF
Micro model	31/12/2018	28/06/2019	30/08/2019	Dutch	PDF
Micro model	31/12/2017	15/06/2018	30/08/2018	Dutch	PDF
Micro model	31/12/2016	24/06/2017	24/08/2017	Dutch	PDF
Abridged model	31/12/2015	24/06/2016	12/08/2016	Dutch	PDF
Abridged model	31/12/2014	29/05/2015	04/06/2015	Dutch	PDF
Abridged model	31/12/2013	27/06/2014	18/08/2014	Dutch	PDF
Abridged model	31/12/2012	28/06/2013	04/07/2013	Dutch	PDF
Abridged model	31/12/2011	29/06/2012	02/07/2012	Dutch	PDF
Abridged model	31/12/2010	24/06/2011	24/11/2011	Dutch	PDF
Abridged model	31/12/2009	25/06/2010	08/07/2010	Dutch	PDF
Abridged model	31/12/2008	26/06/2009	16/07/2009	Dutch	PDF
Abridged model	31/12/2007	27/06/2008	27/06/2008	Dutch	PDF
Abridged model	31/12/2006	29/06/2007	09/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 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 31/12/2025 · 3 active · 38 ended

Active mandates

Dieter Vliegen

Director

Active

Flybro's

Director · 0738.447.340

Represented by Kurt Vliegen

Active

Gunther Vliegen

Director

Active

Ended mandates

Dieter Vliegen

Managing director · since 28 août 2023 · until 27 août 2029

Ended

Flybro's

Managing director · since 28 août 2023 · until 27 août 2029 · 0738.447.340

Ended

Gunther Vliegen

Managing director · since 28 août 2023 · until 27 août 2029

Ended

Flybro's

Director · since 14 janvier 2020 · 0738.447.340

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates30/08/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/03/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates11/12/2018
ONTSLAGEN - BENOEMINGEN
PDF
Registered office28/05/2018
MAATSCHAPPELIJKE ZETEL
PDF
Capital / shares13/02/2018
KAPITAAL - AANDELEN
PDF
Capital / shares21/02/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates17/08/2012
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/12/2006
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 2025232,4 k €↓
2024
Annual accounts 2024283,5 k €↑
2023
Annual accounts 2023267,9 k €↑
2022
Annual accounts 2022251,9 k €↑
2021
Annual accounts 2021140,5 k €↑
2020
Annual accounts 2020139,5 k €↑
2019
Annual accounts 2019135 k €↑
2018
Annual accounts 201826,1 k €↑
2017
Annual accounts 201720,3 k €↓
2016
Annual accounts 201638,9 k €↑
2015
Annual accounts 201519,2 k €↑
2014
Annual accounts 201417,9 k €↓
2013
Annual accounts 201329 k €↑
2012
Annual accounts 20128,5 k €↓
2011
Annual accounts 201128,4 k €↑
2010
Annual accounts 201011,7 k €↓
2009
Annual accounts 200929,1 k €↓
2008
Annual accounts 200832,8 k €↑
2007
Annual accounts 200715,8 k €↑
2006
Annual accounts 200611,2 k €
20/12/1993
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

VLIEGEN

Overview

What does VLIEGEN do?

Trend over 20 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