ACTIVE

VTR GROUP

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Financial year 2025 · closed on 31/12/2025

Net result

237,1 k €

+296.3% YoY

Gross margin

-182,9 k €

-43.5% YoY

Equity

2,3 M €

+11.3% YoY

Workforce

0,0 ETP

What does VTR GROUP do?

VTR GROUP is a Private limited company incorporated in 1995. Its registered office is in Liège.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0456.347.980

Incorporation

30/10/1995

Legal form

Private limited company

Registered office

Rue Julien-D'Andrimont 11 box 5
4000 Liège · WallonieSee on map

Contributed capital

650 800,00 €

Latest accounts

31/12/2025

Average workforce

0,0 ETP

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflow

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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	-182,9 k €	-43.5%	-127,4 k €	+13.1%	-146,7 k €	-21.2%	-121 k €	-242%	85 k €	-65.9%	248,9 k €	+55.7%	159,9 k €	+81.5%	88,1 k €	-49.4%	174,3 k €	+58.0%	110,3 k €	-36.1%	172,5 k €	-15.0%	202,9 k €	+35.9%	149,3 k €	+2685%	-5,8 k €	+72.5%	-21 k €	+89.0%	-190,5 k €	-585%	39,3 k €	+373%	8,3 k €
EBITDA	-184,2 k €	-43.1%	-128,8 k €	+14.7%	-151 k €	+71.3%	-525,3 k €	-726%	83,9 k €	-66.1%	247,8 k €	+55.2%	159,7 k €	+82.0%	87,7 k €	-49.6%	174 k €	+58.9%	109,6 k €	-35.8%	170,8 k €	-13.3%	197 k €	+38.1%	142,7 k €	+685%	-24,4 k €	+11.1%	-27,4 k €	+86.8%	-207,7 k €	-901%	25,9 k €	+411%	-8,3 k €
Operating result	-185,2 k €	-42.8%	-129,7 k €	+14.6%	-152 k €	+71.1%	-526,3 k €	-734%	83 k €	+228%	-64,8 k €	-142%	155,7 k €	+85.9%	83,8 k €	-51.1%	171,3 k €	+60.8%	106,5 k €	-36.2%	166,9 k €	-13.5%	193 k €	+40.0%	137,9 k €	+548%	-30,8 k €	+37.1%	-48,9 k €	+77.6%	-218,6 k €	-2585%	-8,1 k €	+80.8%	-42,4 k €
Net result	237,1 k €	+296%	-120,8 k €	+20.0%	-150,9 k €	+87.7%	-1,2 M €	-1932%	67 k €	+129%	-233 k €	-397%	78,4 k €	+125%	34,9 k €	-76.5%	148,7 k €	+206%	48,6 k €	-65.0%	138,7 k €	+226%	-109,8 k €	-445%	31,8 k €	-85.9%	226,1 k €	+219%	70,9 k €	-96.2%	1,9 M €	+5389%	-35,7 k €	-42.8%	-25 k €
Balance sheet
Equity	2,3 M €	+11.3%	2,1 M €	-5.4%	2,2 M €	-6.4%	2,4 M €	-34.1%	3,6 M €	-16.5%	4,3 M €	-5.1%	4,5 M €	+1.8%	4,5 M €	+0.8%	4,4 M €	+3.5%	4,3 M €	+49.8%	2,9 M €	+5.1%	2,7 M €	-3.9%	2,8 M €	+1.1%	2,8 M €	+8.8%	2,6 M €	+2.8%	2,5 M €	+309%	611,2 k €	+1204%	46,9 k €
Total assets	3 M €	-23.3%	3,9 M €	-4.4%	4,1 M €	-3.9%	4,3 M €	-15.3%	5 M €	-36.5%	7,9 M €	-23.1%	10,3 M €	-5.1%	10,8 M €	+7.4%	10,1 M €	+4.6%	9,7 M €	+36.9%	7,1 M €	-5.7%	7,5 M €	+7.8%	6,9 M €	-2.1%	7,1 M €	+17.1%	6,1 M €	+25.3%	4,8 M €	+212%	1,5 M €	-32.5%	2,3 M €
Cash	76,9 k €	+13.2%	68 k €	-87.3%	533,6 k €	+402%	106,4 k €	-43.2%	187,5 k €	+816%	20,5 k €	+26.1%	16,2 k €	-76.7%	69,7 k €	+1713%	3,8 k €	-97.9%	179,7 k €	+1192%	13,9 k €	-75.8%	57,5 k €	+16.5%	49,4 k €	-11.5%	55,8 k €	-36.7%	88,1 k €	+71.4%	51,4 k €		–		166,8 k €
Debts	669,5 k €	-63.2%	1,8 M €	-3.2%	1,9 M €	-0.8%	1,9 M €	+31.8%	1,4 M €	-60.2%	3,6 M €	-36.7%	5,7 M €	-9.9%	6,3 M €	+12.6%	5,6 M €	+12.4%	5 M €	+32.1%	3,8 M €	-15.6%	4,5 M €	+10.5%	4,1 M €	-5.3%	4,3 M €	+23.2%	3,5 M €	+50.2%	2,3 M €	+151%	924 k €	-58.6%	2,2 M €
Other
Workforce	0,0 ETP		–		0,0 ETP		–		–		0,0 ETP		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 4 ended

Active mandates

DARLIV INTERNATIONAL

Director · since 01 janvier 2024 · 0889.200.285

Represented by Dario Schipani

Active

Ended mandates

Livio Schipani

Director · since 22 décembre 2023

Ended

Livio Schipani

Director · since 04 février 2021

Ended

Franco Ventura

Director · since 19 février 2002

Ended

Franco Ventura

Manager · since 19 février 2002

Ended

At this address

Other companies at this address

Company	CBE no.
DARLIV INTERNATIONAL● Active	0889.200.285
JP & B● Active	0876.640.369
Love In Motion● Active	1017.918.988
SOLAR 21● Active	0668.802.330

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	29/05/2026	27/01/2025	03/06/2024	05/06/2023	20/07/2022	30/08/2021
General meeting	29/05/2026	23/01/2025	31/05/2024	01/06/2023	18/07/2022	16/08/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	29/05/2026	29/05/2026	French	PDF
Abridged model	31/12/2024	23/01/2025	27/01/2025	French	PDF
Abridged model	31/12/2023	31/05/2024	03/06/2024	French	PDF
Abridged model	31/12/2022	01/06/2023	05/06/2023	French	PDF
Abridged model	31/12/2021	18/07/2022	20/07/2022	French	PDF
Abridged model	31/12/2020	16/08/2021	30/08/2021	French	PDF
Abridged model	31/12/2019	21/08/2020	17/09/2020	French	PDF
Abridged modelCorrection	31/12/2018	19/08/2020	17/09/2020	French	PDF
Abridged model	31/12/2018	18/09/2019	26/09/2019	French	PDF
Abridged model	31/12/2017	31/05/2018	27/09/2018	French	PDF
Abridged model	31/12/2016	31/05/2017	21/08/2017	French	PDF
Abridged model	31/12/2015	31/05/2016	30/08/2016	French	PDF
Abridged model	31/12/2014	31/05/2015	31/08/2015	French	PDF
Abridged model	31/12/2013	31/05/2014	29/08/2014	Dutch	PDF
Abridged model	31/12/2012	31/05/2013	22/08/2013	Dutch	PDF
Abridged model	31/12/2011	25/05/2012	31/08/2012	French	PDF
Abridged model	31/12/2010	27/05/2011	23/11/2011	Dutch	PDF
Abridged model	31/12/2009	28/05/2010	23/08/2010	Dutch	PDF
Abridged model	31/12/2008	29/05/2009	16/10/2009	Dutch	PDF
Abridged model	31/12/2007	30/05/2008	27/08/2008	Dutch	PDF
Abridged model	31/12/2006	25/05/2007	24/08/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 · 1 active · 4 ended

Active mandates

DARLIV INTERNATIONAL

Director · since 01 janvier 2024 · 0889.200.285

Represented by Dario Schipani

Active

Ended mandates

Livio Schipani

Director · since 22 décembre 2023

Ended

Livio Schipani

Director · since 04 février 2021

Ended

Franco Ventura

Director · since 19 février 2002

Ended

Franco Ventura

Manager · since 19 février 2002

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates24/01/2025
DEMISSIONS, NOMINATIONS
PDF
Other25/01/2024
MODIFICATION FORME JURIDIQUE
PDF
Registered office08/04/2021
SIEGE SOCIAL
PDF
Mandates11/03/2021
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Registered office15/09/2010
VERPLAATSING VAN DE MAATSCHAPPELIJKE ZETEL.
PDF
Capital / shares22/01/2008
BENAMING - DOEL - KAPITAAL - AANDELEN
PDF
Other19/09/2007
na neerlegging ter griffie van de akte
PDF
Registered office15/12/2006
MAATSCHAPPELIJKE ZETEL
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 2025237,1 k €↑
2024
Annual accounts 2024-120,8 k €↑
2023
Annual accounts 2023-150,9 k €↑
2022
Annual accounts 2022-1,2 M €↓
2021
Annual accounts 202167 k €↑
2018
Annual accounts 2018-233 k €↓
2017
Annual accounts 201778,4 k €↑
2016
Annual accounts 201634,9 k €↓
2015
Annual accounts 2015148,7 k €↑
2014
Annual accounts 201448,6 k €↓
2013
Annual accounts 2013138,7 k €↑
2012
Annual accounts 2012-109,8 k €↓
2011
Annual accounts 201131,8 k €↓
2010
Annual accounts 2010226,1 k €↑
2009
Annual accounts 200970,9 k €↓
2008
Annual accounts 20081,9 M €↑
2007
Annual accounts 2007-35,7 k €↓
2006
Annual accounts 2006-25 k €
30/10/1995
IncorporationPrivate 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

VTR GROUP

Overview

What does VTR GROUP 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