ACTIVE

VPK Paper

Export PDF

Financial year 2025 · Closed on 31/12/2025

Net result18,5 M €-29,2 %over 1 year

Revenue222,8 M €+5,7 %over 1 year

Equity99,1 M €+3,7 %over 1 year

Workforce292,2 ETP+3,1 %over 1 year

Identity

Source · BCE/KBO

VPK Paper is a Public limited company incorporated in 1995. Its main activity is: Manufacture of paper and paperboard. Its registered office is in Dendermonde. It employs on average 292,2 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0454.519.927
Incorporation: 28/02/1995
Legal form: Public limited company
Registered office: Oude baan (OUD) 120
9200 Dendermonde · FlandreSee on map
Contributed capital: 23 946 411,75 €
Latest accounts: 31/12/2025
Average workforce: 292,2 ETP

Activities (NACE)

17120Manufacture of paper and paperboard· main 17120Manufacture of paper and paperboard 21121Manufacture of basic pharmaceutical products 17220Manufacture of household and sanitary goods and of toilet requisites 17220Manufacture of household and sanitary goods and of toilet requisites 21220Manufacture of pharmaceutical preparations

Joint committees (2)

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 20 filings

Trend over 19 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	222,8 M €	+5.7%	210,8 M €	+8.6%	194,1 M €	-36.4%	305,1 M €	+25.1%	243,8 M €
EBITDA	25,5 M €	+41.7%	18 M €	-11.3%	20,3 M €	-65.9%	59,5 M €	+11.4%	53,4 M €
Operating result	19,3 M €	+62.6%	11,9 M €	-11.0%	13,3 M €	-74.1%	51,5 M €	+12.4%	45,8 M €
Net result	18,5 M €	-29.2%	26,2 M €	+422%	5 M €	-78.6%	23,5 M €	-37.6%	37,7 M €
Balance sheet
Equity	99,1 M €	+3.7%	95,6 M €	-11.8%	108,4 M €	+4.9%	103,4 M €	+3.5%	99,9 M €
Total assets	162,1 M €	-7.4%	175,1 M €	+15.7%	151,3 M €	-12.0%	172 M €	-8.4%	187,8 M €
Cash	–		–		–		3,9 k €	+34.5%	2,9 k €
Debts	62,1 M €	-21.1%	78,7 M €	+97.7%	39,8 M €	-41.0%	67,5 M €	-15.3%	79,7 M €
Other
Workforce	292,2 ETP	+3.1%	283,3 ETP	+0.4%	282,2 ETP	+4.5%	270,0 ETP	-1.6%	274,4 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 4 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
3 ADVICE0817.639.922Represented by WIM NAESSENS	Director02/06/2023 → 01/06/2029
ALEXIS ZENNER	Director01/01/2014 → 01/06/2029
UNI-PAR0465.120.641Represented by PIERRE MACHARIS	Managing director02/06/2017 → 01/06/2029Chairman of the board of directors31/03/2011 → 2015 accountsended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
PERKAMENT0465.122.225Represented by JEAN-PAUL MACHARIS	Director02/06/2017 → 2019 accounts
VPK Group0400.313.852Represented by PIERRE MACHARIS	Director29/03/2012 → 2018 accounts

Other companies at this address

Oude baan (OUD) 120 9200 Dendermonde

Company	CBE no.
ECOFORMER● Active	0440.269.637
Elounda● Active	0726.363.714
IMMOWELL● Active	0431.101.850
Kastano● Active	0751.616.970
KEMASAN● Active	0705.937.195
PERKAMENT● Active	0465.122.225
Sociaal Fonds VPK● Active	0442.227.651
UNIFIN● Active	0465.100.647
UNI-PAR● Active	0465.120.641
VPK● Active	1013.441.647
VPK Group● Active	0400.313.852
VPK PACKAGING● Active	0454.520.026
VPK SERVICES● Active	0464.538.245

Full financial information

Source · NBB

	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	09/06/2026	10/06/2025	13/06/2024	12/06/2023	14/06/2022	22/06/2021
General meeting	05/06/2026	06/06/2025	07/06/2024	02/06/2023	03/06/2022	04/06/2021
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

Financial ratios

Source · NBB

Looking for more information about this company?

Try for free

Annual accounts filings

Source · NBB, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	05/06/2026	09/06/2026	Dutch	PDF
Full model	31/12/2024	06/06/2025	10/06/2025	Dutch	PDF
Full model	31/12/2023	07/06/2024	13/06/2024	Dutch	PDF
Full model	31/12/2022	02/06/2023	12/06/2023	Dutch	PDF
Full model	31/12/2021	03/06/2022	14/06/2022	Dutch	PDF
Full model	31/12/2020	04/06/2021	22/06/2021	Dutch	PDF
Full model	31/12/2019	26/06/2020	24/07/2020	Dutch	PDF
Full model	31/12/2018	07/06/2019	12/06/2019	Dutch	PDF
Full model	31/12/2017	01/06/2018	25/06/2018	Dutch	PDF
Full model	31/12/2016	02/06/2017	27/06/2017	Dutch	PDF
Full model	31/12/2015	03/06/2016	16/06/2016	Dutch	PDF
Full model	31/12/2014	26/03/2015	16/06/2015	Dutch	PDF
Full model	31/12/2013	27/03/2014	06/05/2014	Dutch	PDF
Full model	31/12/2012	28/03/2013	29/04/2013	Dutch	PDF
Full model	31/12/2011	29/03/2012	17/04/2012	Dutch	PDF
Full model	31/12/2010	31/03/2011	14/04/2011	Dutch	PDF
Full model	31/12/2009	25/03/2010	12/04/2010	Dutch	PDF
Full model	31/12/2008	26/03/2009	21/04/2009	Dutch	PDF
Full model	31/12/2007	27/03/2008	24/04/2008	Dutch	PDF
Full model	31/12/2006	29/03/2007	27/04/2007	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 M€ and 250 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.

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 4 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
3 ADVICE0817.639.922Represented by WIM NAESSENS	Director02/06/2023 → 01/06/2029
ALEXIS ZENNER	Director01/01/2014 → 01/06/2029
UNI-PAR0465.120.641Represented by PIERRE MACHARIS	Managing director02/06/2017 → 01/06/2029Chairman of the board of directors31/03/2011 → 2015 accountsended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
PERKAMENT0465.122.225Represented by JEAN-PAUL MACHARIS	Director02/06/2017 → 2019 accounts
VPK Group0400.313.852Represented by PIERRE MACHARIS	Director29/03/2012 → 2018 accounts

Ownership and network

Looking for more information about this company?

Try for free

Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates20/07/2026
Herbenoeming commissaris
PDF
Other30/12/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates16/10/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/07/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/09/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/08/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/04/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/12/2017
ONTSLAGEN - BENOEMINGEN
PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings19 filings

Mandates

UNI-PAR

3 ADVICE

ALEXIS ZENNER

PERKAMENT

VPK Group

JOZEF SCHOONJANS

19951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023202420252026202720282029

VPK Paper

Oude baan (OUD) 120, 9200 Dendermonde

Managing directorChairman of the board of directors

Director

DirectorManaging director

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Oude baan (OUD) 120, 9200 DendermondeCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00151578

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
VPK PaperCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00151578

Events

2025
Annual accounts 202518,5 M €↓
2024
Annual accounts 202426,2 M €↑
2023
Annual accounts 20235 M €↓
02/06/2023
nomination3 Advice BV · bestuurder
02/06/2023
reconductionUni-Par NV · bestuurder en gedelegeerd bestuurder
02/06/2023
reconductionAlexis Zenner · bestuurder
02/06/2023
reconductionKPMG Bedrijfsrevisoren BV · commissaris
2022
Annual accounts 202223,5 M €↓
2021
Annual accounts 202137,7 M €↑
2020
Annual accounts 202022,6 M €↓
2019
Annual accounts 201925,4 M €↓
2018
Annual accounts 201832,3 M €↑
2017
Annual accounts 201718,4 M €↓
2015
Annual accounts 201525,7 M €↓
2014
Annual accounts 201430,8 M €↓
2013
Annual accounts 201394,9 M €↑
2012
Annual accounts 2012-9,1 M €↓
2011
Annual accounts 2011-425,5 k €↑
2010
Annual accounts 2010-1,8 M €↑
2009
Annual accounts 2009-22,5 M €↑
2008
Annual accounts 2008-26,7 M €↓
2007
Annual accounts 200712,1 M €↑
2006
Annual accounts 200610,4 M €
28/02/1995
IncorporationPublic limited company

VPK Paper

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events