ACTIVE

VGR

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Financial year 2025 · closed on 31/12/2025

Net result

92 k €

-20.0% YoY

Gross margin

870,5 k €

+3.2% YoY

Equity

579,5 k €

+18.9% YoY

Workforce

6,3 ETP

-6.0% YoY

What does VGR do?

VGR is a Private limited company incorporated in 1996. Its main activity is: Cutting, shaping and finishing of stone. Its registered office is in Westerlo. It employs on average 6,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0458.510.486

Incorporation

16/07/1996

Legal form

Private limited company

Registered office

Boerenkrijglaan 1
2260 Westerlo · FlandreSee on map

Contributed capital

18 592,01 €

Latest accounts

31/12/2025

Average workforce

6,3 ETP

Activities (NACE)

23700Cutting, shaping and finishing of stone· main 23700Cutting, shaping and finishing of stone 26700Manufacture of optical instruments and photographic equipment 43120Site preparation 43120Site preparation 47521Retail sale of hardware, paints and glass in specialised stores+2

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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	870,5 k €	+3.2%	843,9 k €	+12.6%	749,2 k €	+42.2%	526,9 k €	+28.7%	409,5 k €	+49.3%	274,3 k €	+59.1%	172,4 k €	+70.6%	101,1 k €	+107%	48,8 k €	+1408%	3,2 k €	-46.4%	6 k €	+1521%	372,1 €	-99.7%	106,7 k €	+23.6%	86,3 k €	+158%	33,4 k €	+280%	-18,6 k €	-526%	-3 k €	-107%	40 k €	+266%	10,9 k €	+1251%	-950,1 €
EBITDA	390,6 k €	+34.3%	290,9 k €	-10.4%	324,5 k €	+90.2%	170,6 k €	+13.0%	150,9 k €	+127%	66,4 k €	+9887%	665,3 €	+103%	-24,6 k €	-935%	2,9 k €	+12.8%	2,6 k €	-45.7%	4,8 k €	+2008%	-251,6 €	-100%	106 k €	+23.9%	85,5 k €	+163%	32,5 k €	+231%	-24,8 k €	-248%	-7,1 k €	-122%	32 k €	+351%	-12,8 k €	-0.2%	-12,7 k €
Operating result	149,4 k €	-12.1%	170 k €	+113%	79,9 k €	-14.9%	93,8 k €	-18.2%	114,8 k €	+73.6%	66,1 k €	+9839%	665,3 €	+128%	-2,4 k €	-297%	1,2 k €	+106%	-21,3 k €	-2161%	1 k €	+123%	-4,5 k €	-104%	101,8 k €	+25.2%	81,3 k €	+565%	12,2 k €	+144%	-27,9 k €	-165%	-10,5 k €	+79.4%	-51,1 k €	-246%	-14,8 k €	+4.5%	-15,4 k €
Net result	92 k €	-20.0%	114,9 k €	+141%	47,8 k €	-45.9%	88,2 k €	+8.5%	81,4 k €	+31.2%	62 k €	+214233%	28,9 €	+101%	-3,4 k €	-227%	2,7 k €	+112%	-23,2 k €	-760%	3,5 k €	+212%	-3,1 k €	-103%	104,7 k €	+34.2%	78 k €	+1950%	3,8 k €	+112%	-32,1 k €	-123%	-14,4 k €	+73.7%	-54,8 k €	-226%	-16,8 k €	+7.8%	-18,2 k €
Balance sheet
Equity	579,5 k €	+18.9%	487,5 k €	+30.8%	372,6 k €	+14.7%	324,8 k €	+37.3%	236,6 k €	+52.4%	155,2 k €	+66.6%	93,2 k €	+0.0%	93,1 k €	-3.5%	96,6 k €	+2.9%	93,9 k €	-19.8%	117 k €	+3.1%	113,5 k €	-2.7%	116,7 k €	+876%	11,9 k €	+118%	-66,1 k €	+5.4%	-69,9 k €	-84.8%	-37,8 k €	-61.3%	-23,5 k €	-175%	31,3 k €	-34.9%	48,1 k €
Total assets	1,3 M €	-9.6%	1,4 M €	+54.2%	931,8 k €	-18.5%	1,1 M €	+66.8%	685,7 k €	+24.1%	552,3 k €	+32.6%	416,6 k €	+21.7%	342,2 k €	+75.1%	195,4 k €	+20.6%	162,1 k €	+4.9%	154,6 k €	-23.1%	200,9 k €	+14.2%	175,8 k €	-31.1%	255,3 k €	+111%	121,2 k €	-64.4%	340 k €	+21.8%	279 k €	+13.0%	247 k €	-11.2%	278 k €	-22.7%	359,6 k €
Cash	430,4 k €	+54.7%	278,2 k €	+21.9%	228,1 k €	+18.1%	193,2 k €	-18.6%	237,4 k €	+73.2%	137,1 k €	+8820%	1,5 k €	-82.4%	8,7 k €	-52.6%	18,4 k €	+32.7%	13,9 k €	-66.8%	41,8 k €	+306%	10,3 k €	-64.3%	28,9 k €	+49.6%	19,3 k €	+108%	9,3 k €	+300%	2,3 k €	+150%	929,2 €	-49.8%	1,9 k €	+1039%	162,5 €	-3.9%	169,2 €
Debts	720,1 k €	-23.8%	945,2 k €	+69.0%	559,3 k €	-31.7%	819 k €	+83.1%	447,4 k €	+12.7%	397,1 k €	+22.8%	323,4 k €	+31.4%	246,1 k €	+149%	98,8 k €	+44.9%	68,2 k €	+94.1%	35,1 k €	-59.8%	87,4 k €	+47.6%	59,2 k €	-75.7%	243,4 k €	+30.0%	187,3 k €	-54.3%	409,9 k €	+29.3%	316,9 k €	+17.2%	270,4 k €	+9.6%	246,8 k €	-20.8%	311,6 k €
Other
Workforce	6,3 ETP	-6.0%	6,7 ETP	+11.7%	6,0 ETP	+1.7%	5,9 ETP	+22.9%	4,8 ETP	+20.0%	4,0 ETP	+21.2%	3,3 ETP		–		–		–		–		–		–		–		–		0,1 ETP	-90.0%	1,0 ETP	0.0%	1,0 ETP	-52.4%	2,1 ETP	+16.7%	1,8 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 · 3 ended

Active mandates

Walter Van Elven

Manager · since 08 juin 2010

Active

Ended mandates

Sven Van Elven

Administrator - manager · since 12 mars 2015

Ended

Antoon Moestermans

Manager · since 10 juillet 1996

Ended

Antoon Moestermans

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
DE POLDER● Active	0429.506.397
V&V● Active	0776.679.592
WTM● Active	0779.336.305

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	27/07/2026	21/08/2025	05/08/2024	31/07/2023	29/08/2022	09/08/2021
General meeting	19/06/2026	20/06/2025	21/06/2024	16/06/2023	17/06/2022	18/06/2021
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
Abridged model	31/12/2025	19/06/2026	27/07/2026	Dutch	PDF
Abridged model	31/12/2024	20/06/2025	21/08/2025	Dutch	PDF
Abridged model	31/12/2023	21/06/2024	05/08/2024	Dutch	PDF
Abridged model	31/12/2022	16/06/2023	31/07/2023	Dutch	PDF
Abridged model	31/12/2021	17/06/2022	29/08/2022	Dutch	PDF
Abridged model	31/12/2020	18/06/2021	09/08/2021	Dutch	PDF
Abridged model	31/12/2019	19/06/2020	13/08/2020	Dutch	PDF
Micro model	31/12/2018	21/06/2019	14/08/2019	Dutch	PDF
Micro model	31/12/2017	15/06/2018	30/07/2018	Dutch	PDF
Abridged model	31/12/2016	16/06/2017	27/07/2017	Dutch	PDF
Abridged model	31/12/2015	17/06/2016	26/08/2016	Dutch	PDF
Abridged model	31/12/2014	19/06/2015	13/08/2015	Dutch	PDF
Abridged model	31/12/2013	20/06/2014	29/08/2014	Dutch	PDF
Abridged model	31/12/2012	21/06/2013	19/08/2013	Dutch	PDF
Abridged model	31/12/2011	15/06/2012	27/08/2012	Dutch	PDF
Abridged model	31/12/2010	17/06/2011	25/08/2011	Dutch	PDF
Abridged model	31/12/2009	18/06/2010	24/08/2010	Dutch	PDF
Abridged model	31/12/2008	19/06/2009	24/08/2009	Dutch	PDF
Abridged model	31/12/2007	13/06/2008	20/08/2008	Dutch	PDF
Abridged model	31/12/2006	15/06/2007	29/08/2007	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 · 3 ended

Active mandates

Walter Van Elven

Manager · since 08 juin 2010

Active

Ended mandates

Sven Van Elven

Administrator - manager · since 12 mars 2015

Ended

Antoon Moestermans

Manager · since 10 juillet 1996

Ended

Antoon Moestermans

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates17/10/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Registered office08/08/2019
MAATSCHAPPELIJKE ZETEL
PDF
Registered office16/12/2015
MAATSCHAPPELIJKE ZETEL - ADRESSEN ANDERS DAN MAATSCHAPPELIJKE ZETEL
PDF
Mandates27/03/2015
ONTSLAGEN - BENOEMINGEN
PDF
Registered office08/02/2012
MAATSCHAPPELIJKE ZETEL - ADRESSEN ANDERS DAN MAATSCHAPPELIJKE ZETEL
PDF
Registered office17/05/2011
MAATSCHAPPELIJKE ZETEL
PDF
Mandates25/01/2011
ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates18/10/2010
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 202592 k €↓
2024
Annual accounts 2024114,9 k €↑
2023
Annual accounts 202347,8 k €↓
2022
Annual accounts 202288,2 k €↑
2021
Annual accounts 202181,4 k €↑
2020
Annual accounts 202062 k €↑
2019
Annual accounts 201928,9 €↑
2018
Annual accounts 2018-3,4 k €↓
2017
Annual accounts 20172,7 k €↑
2016
Annual accounts 2016-23,2 k €↓
2015
Annual accounts 20153,5 k €↑
2014
Annual accounts 2014-3,1 k €↓
2013
Annual accounts 2013104,7 k €↑
2012
Annual accounts 201278 k €↑
2011
Annual accounts 20113,8 k €↑
2010
Annual accounts 2010-32,1 k €↓
2009
Annual accounts 2009-14,4 k €↑
2008
Annual accounts 2008-54,8 k €↓
2007
Annual accounts 2007-16,8 k €↑
2006
Annual accounts 2006-18,2 k €
16/07/1996
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

VGR

Overview

What does VGR 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