ACTIVE

VASCO

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Financial year 2025 · closed on 31/12/2025

Net result

-7,4 k €

+25.4% YoY

Gross margin

-8,4 k €

-0.1% YoY

Equity

159,4 k €

-4.4% YoY

What does VASCO do?

VASCO is a Public limited company incorporated in 1996. Its main activity is: Management consultancy activities. Its registered office is in Nazareth-De Pinte.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0456.993.922

Incorporation

11/01/1996

Legal form

Public limited company

Registered office

Drapstraat 2 box 1
9810 Nazareth-De Pinte · FlandreSee on map

Contributed capital

61 500,00 €

Latest accounts

31/12/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities

Joint committees (1)

Signals

Solid equityLow riskGood liquidity

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Health score

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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	-8,4 k €	-0.1%	-8,3 k €	-935%	999,1 €	+109%	-10,9 k €	-113%	82,1 k €	+492%	-20,9 k €	-106%	322,4 k €	+196%	108,8 k €	+83.3%	59,3 k €	-28.2%	82,7 k €	+102%	41 k €	-68.0%	128,2 k €	+7.6%	119,1 k €	-12.5%	136,1 k €	-37.5%	217,7 k €	+34.5%	161,8 k €	-13.3%	186,6 k €	+35.1%	138,1 k €	+11.2%	124,2 k €	+75.2%	70,9 k €
EBITDA	-9,6 k €	-0.4%	-9,6 k €	-4502%	-208,3 €	+98.4%	-13,3 k €	-117%	79,5 k €	+379%	-28,5 k €	-109%	320,3 k €	+199%	107,1 k €	+84.6%	58 k €	-28.4%	81 k €	+116%	37,5 k €	-70.2%	125,6 k €	+7.7%	116,7 k €	-12.6%	133,4 k €	-32.3%	197,1 k €	+47.7%	133,5 k €	+27.1%	105 k €	-5.2%	110,7 k €	+15.4%	95,9 k €	+128%	42,2 k €
Operating result	-12,7 k €	+7.7%	-13,8 k €	-434%	-2,6 k €	+82.2%	-14,5 k €	-119%	78,2 k €	+359%	-30,2 k €	-110%	317,7 k €	+209%	102,9 k €	+96.0%	52,5 k €	-31.8%	76,9 k €	+123%	34,5 k €	-69.0%	111,4 k €	+8.9%	102,3 k €	-2.6%	105,1 k €	-31.5%	153,4 k €	+27.9%	119,9 k €	+71.1%	70,1 k €	-34.2%	106,5 k €	+15.0%	92,6 k €	+131%	40,1 k €
Net result	-7,4 k €	+25.4%	-9,9 k €	-501%	-1,6 k €	+86.4%	-12,1 k €	-120%	59,4 k €	+408%	-19,3 k €	-107%	288,5 k €	+247%	83,1 k €	+112%	39,2 k €	-26.5%	53,3 k €	+89.6%	28,1 k €	-82.1%	156,6 k €	+71.4%	91,4 k €	+1.4%	90,2 k €	-20.5%	113,4 k €	+16.3%	97,5 k €	+37.3%	71 k €	-11.6%	80,3 k €	+8.4%	74,1 k €	+40.8%	52,6 k €
Balance sheet
Equity	159,4 k €	-4.4%	166,7 k €	-5.6%	176,6 k €	-0.9%	178,3 k €	-6.4%	190,4 k €	-13.1%	219 k €	-44.9%	397,8 k €	+37.5%	289,3 k €	-5.7%	306,7 k €	+14.7%	267,5 k €	-22.5%	345,1 k €	-62.4%	917 k €	+20.6%	760,4 k €	+13.7%	669 k €	+15.6%	578,8 k €	+2.0%	567,5 k €	+20.7%	470 k €	+17.8%	398,9 k €	+25.2%	318,6 k €	+30.3%	244,6 k €
Total assets	160,6 k €	-5.8%	170,6 k €	-4.3%	178,2 k €	-22.4%	229,5 k €	-49.6%	455,8 k €	-30.4%	655,3 k €	-34.2%	995,9 k €	+116%	460,3 k €	-2.1%	470,4 k €	+1.3%	464,1 k €	-2.8%	477,4 k €	-61.2%	1,2 M €	+13.8%	1,1 M €	+6.9%	1 M €	+16.0%	871,7 k €	+8.2%	805,9 k €	+10.9%	726,9 k €	+46.9%	494,9 k €	+22.1%	405,2 k €	+21.7%	332,9 k €
Cash	29,8 k €	-51.5%	61,4 k €	-54.8%	136 k €	-23.9%	178,8 k €	-47.3%	339,4 k €	-25.3%	454,1 k €	-30.5%	653,5 k €	+1251%	48,4 k €	-23.6%	63,3 k €	+158%	24,5 k €	-28.3%	34,2 k €	-66.0%	100,6 k €	+24993%	401 €	+8.0%	371,4 €	-99.6%	105,2 k €	+391%	21,4 k €	+302%	5,3 k €	+934%	515,4 €	-8.2%	561,6 €	-28.3%	783,7 €
Debts	1,2 k €	-63.2%	3,2 k €	+110%	1,5 k €	-97.0%	51,2 k €	-80.6%	264,6 k €	-39.2%	435,5 k €	-27.0%	596,6 k €	+251%	169,9 k €	+4.4%	162,7 k €	-16.8%	195,6 k €	+49.2%	131,1 k €	-57.7%	309,7 k €	-2.8%	318,5 k €	-6.2%	339,4 k €	+16.5%	291,3 k €	+22.2%	238,4 k €	-7.2%	257 k €	+168%	96 k €	+10.9%	86,5 k €	-2.0%	88,3 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		0,0 ETP		0,0 ETP	-100%	0,6 ETP	-40.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

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

Active mandates

Jean Claeys

Director · since 02 juin 2009

Active

Ended mandates

BART CLAEYS

Director · since 03 juin 2015 · until 12 février 2020

Ended

BART CLAEYS

Director · since 03 juin 2015 · until 02 juin 2021

Ended

JEAN CLAEYS

Managing director · since 03 juin 2015 · until 02 juin 2021

Ended

Bart Claeys

Director · since 02 juin 2009 · until 02 juin 2015

Ended

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	14/08/2026	30/09/2025	30/08/2024	31/07/2023	30/07/2022	28/08/2021
General meeting	14/08/2026	29/09/2025	05/06/2024	07/06/2023	01/06/2022	02/06/2021
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	14/08/2026	14/08/2026	Dutch	PDF
Micro model	31/12/2024	29/09/2025	30/09/2025	Dutch	PDF
Micro model	31/12/2023	05/06/2024	30/08/2024	Dutch	PDF
Micro model	31/12/2022	07/06/2023	31/07/2023	Dutch	PDF
Micro model	31/12/2021	01/06/2022	30/07/2022	Dutch	PDF
Micro model	31/12/2020	02/06/2021	28/08/2021	Dutch	PDF
Micro model	31/12/2019	03/06/2020	30/06/2020	Dutch	PDF
Micro model	31/12/2018	05/06/2019	29/06/2019	Dutch	PDF
Micro model	31/12/2017	06/06/2018	29/06/2018	Dutch	PDF
Micro model	31/12/2016	07/06/2017	27/07/2017	Dutch	PDF
Abridged model	31/12/2015	01/06/2016	28/06/2016	Dutch	PDF
Abridged model	31/12/2014	03/06/2015	27/07/2015	Dutch	PDF
Abridged model	31/12/2013	04/06/2014	24/08/2014	Dutch	PDF
Abridged model	31/12/2012	05/06/2013	30/06/2013	Dutch	PDF
Abridged model	31/12/2011	06/06/2012	24/07/2012	Dutch	PDF
Abridged model	31/12/2010	08/06/2011	23/08/2011	Dutch	PDF
Abridged model	31/12/2009	02/06/2010	07/07/2010	Dutch	PDF
Abridged model	31/12/2008	02/06/2009	29/06/2009	Dutch	PDF
Abridged model	31/12/2007	04/06/2008	20/06/2008	Dutch	PDF
Abridged model	31/12/2006	06/06/2007	03/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 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 · 12 ended

Active mandates

Jean Claeys

Director · since 02 juin 2009

Active

Ended mandates

BART CLAEYS

Director · since 03 juin 2015 · until 12 février 2020

Ended

BART CLAEYS

Director · since 03 juin 2015 · until 02 juin 2021

Ended

JEAN CLAEYS

Managing director · since 03 juin 2015 · until 02 juin 2021

Ended

Bart Claeys

Director · since 02 juin 2009 · until 02 juin 2015

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates21/02/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates11/05/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/08/2015
ONTSLAGEN - BENOEMINGEN
PDF
Other12/10/2011
DOEL - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Capital / shares23/06/2011
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Capital / shares23/02/2011
KAPITAAL - AANDELEN
PDF
Mandates26/07/2010
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/07/2009
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 2025-7,4 k €↑
2024
Annual accounts 2024-9,9 k €↓
2024
Name changeVASCO NV
2023
Annual accounts 2023-1,6 k €↑
2022
Annual accounts 2022-12,1 k €↓
2021
Annual accounts 202159,4 k €↑
2021
Name changeV@sco
2020
Annual accounts 2020-19,3 k €↓
2019
Annual accounts 2019288,5 k €↑
2018
Annual accounts 201883,1 k €↑
2017
Annual accounts 201739,2 k €↓
2016
Annual accounts 201653,3 k €↑
2015
Annual accounts 201528,1 k €↓
2014
Annual accounts 2014156,6 k €↑
2013
Annual accounts 201391,4 k €↑
2012
Annual accounts 201290,2 k €↓
2011
Annual accounts 2011113,4 k €↑
2010
Annual accounts 201097,5 k €↑
2009
Annual accounts 200971 k €↓
2008
Annual accounts 200880,3 k €↑
2007
Annual accounts 200774,1 k €↑
2006
Annual accounts 200652,6 k €
11/01/1996
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

VASCO

Overview

What does VASCO do?

Trend over 20 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