ACTIVE

VHM

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Financial year 2025 · closed on 31/12/2025

Net result

41,8 k €

-10.6% YoY

Gross margin

161,9 k €

-1.3% YoY

Equity

593,4 k €

+7.6% YoY

What does VHM do?

VHM is a Public limited company incorporated in 1996. Its registered office is in Nivelles.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0459.561.749

Incorporation

23/12/1996

Legal form

Public limited company

Registered office

Faubourg de Soignies 42
1400 Nivelles · WallonieSee on map

Contributed capital

75 000,00 €

Latest accounts

31/12/2025

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	161,9 k €	-1.3%	164,1 k €	+3.9%	158 k €	+17.3%	134,6 k €	-4.9%	141,6 k €	-6.2%	150,9 k €	-1.7%	153,5 k €	+1.2%	151,6 k €	+2.3%	148,1 k €	-8.9%	162,7 k €	+5.1%	154,8 k €	+8.6%	142,5 k €	-7.1%	153,4 k €	+1.6%	150,9 k €	+11.5%	135,4 k €	+5.4%	128,5 k €	+8.8%	118,1 k €	-1.3%	119,7 k €	-12.1%	136,1 k €	+6.7%	127,6 k €
EBITDA	138 k €	-4.1%	143,8 k €	+5.6%	136,2 k €	+18.5%	114,9 k €	-6.2%	122,5 k €	-7.2%	132 k €	-2.4%	135,2 k €	+1.5%	133,3 k €	+2.0%	130,6 k €	-10.1%	145,4 k €	+5.6%	137,6 k €	+9.6%	125,6 k €	-8.1%	136,6 k €	+0.2%	136,4 k €	+12.4%	121,3 k €	+5.8%	114,7 k €	+11.4%	102,9 k €	-3.2%	106,3 k €	-14.1%	123,7 k €	+5.3%	117,4 k €
Operating result	100,8 k €	-6.9%	108,2 k €	+32.8%	81,5 k €	+74.4%	46,7 k €	-36.4%	73,5 k €	-13.0%	84,5 k €	-4.8%	88,7 k €	+2.6%	86,5 k €	+6.3%	81,4 k €	-9.0%	89,5 k €	+9.4%	81,8 k €	+21.8%	67,1 k €	-15.9%	79,8 k €	-0.1%	79,9 k €	+37.5%	58,1 k €	+202%	19,2 k €	-52.6%	40,6 k €	+112%	19,1 k €	-39.2%	31,5 k €	-48.5%	61,1 k €
Net result	41,8 k €	-10.6%	46,8 k €	+72.2%	27,2 k €	+227%	8,3 k €	-66.6%	24,9 k €	-23.4%	32,5 k €	-4.2%	33,9 k €	+14.4%	29,6 k €	+25.9%	23,5 k €	-12.5%	26,9 k €	+27.5%	21,1 k €	+51.3%	13,9 k €	-86.3%	101,7 k €	+508%	16,7 k €	+378%	-6 k €	+84.2%	-38,1 k €	-185%	-13,4 k €	+73.9%	-51,2 k €	-121%	-23,2 k €	-242%	16,3 k €
Balance sheet
Equity	593,4 k €	+7.6%	551,6 k €	+9.3%	504,8 k €	+5.7%	477,7 k €	+1.8%	469,4 k €	+5.6%	444,5 k €	+7.9%	412 k €	+9.0%	378 k €	+12.1%	337,1 k €	+7.5%	313,6 k €	+9.4%	286,7 k €	+7.9%	265,6 k €	+5.5%	251,6 k €	+67.9%	149,9 k €	+12.6%	133,2 k €	-4.3%	139,2 k €	-21.5%	177,3 k €	-7.0%	190,7 k €	+1579%	11,4 k €	-67.1%	34,5 k €
Total assets	1,9 M €	+2.7%	1,8 M €	+2.2%	1,8 M €	+11.6%	1,6 M €	+4.5%	1,5 M €	-1.2%	1,6 M €	-0.8%	1,6 M €	-2.5%	1,6 M €	+0.2%	1,6 M €	-1.0%	1,6 M €	-2.8%	1,7 M €	-3.1%	1,7 M €	-6.5%	1,8 M €	-0.3%	1,8 M €	-1.8%	1,9 M €	-3.8%	1,9 M €	+15.0%	1,7 M €	-3.6%	1,8 M €	-4.6%	1,8 M €	+29.4%	1,4 M €
Cash	5,7 k €	+36.6%	4,2 k €	-33.9%	6,3 k €		–		30,8 k €	+43.3%	21,5 k €	+63.3%	13,1 k €	-35.4%	20,4 k €	+369%	4,3 k €	+1.8%	4,3 k €	+4.4%	4,1 k €	+171%	1,5 k €	-77.4%	6,7 k €	-72.2%	24 k €	+580%	3,5 k €	+332%	816,1 €	-43.7%	1,4 k €	-70.7%	4,9 k €	+884%	502,1 €	-95.6%	11,5 k €
Debts	1,2 M €	+0.8%	1,2 M €	-0.4%	1,2 M €	+15.4%	1,1 M €	+6.7%	1 M €	-4.6%	1,1 M €	-3.8%	1,1 M €	-6.1%	1,2 M €	+1.1%	1,2 M €	-5.7%	1,2 M €	-4.6%	1,3 M €	-6.0%	1,4 M €	-8.8%	1,5 M €	-6.5%	1,6 M €	-2.8%	1,6 M €	-3.7%	1,7 M €	+20.9%	1,4 M €	-3.2%	1,5 M €	-19.8%	1,8 M €	+30.8%	1,4 M €

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 17 ended

Active mandates

Gérard Vanhamme

Managing director · since 26 septembre 2022

Active

Séverine VANHAMME

Director · since 26 septembre 2022

Active

Ended mandates

Gérard Vanhamme

Managing director · since 29 mai 2020 · until 29 mai 2026

Ended

Pascal Lecomte

Director · since 29 mai 2020 · until 26 septembre 2022

Ended

Pascal Lecomte

Director · since 29 mai 2020 · until 29 mai 2026

Ended

Séverine Vanhamme

Director · since 29 mai 2020 · until 26 septembre 2022

Ended

At this address

Other companies at this address

Company	CBE no.
AUTO - CONTACT● Active	0459.427.830

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	18/08/2026	28/08/2025	30/08/2024	25/08/2023	26/08/2022	25/01/2022
General meeting	29/05/2026	30/05/2025	31/05/2024	26/05/2023	27/05/2022	28/05/2021
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	29/05/2026	18/08/2026	French	PDF
Micro model	31/12/2024	30/05/2025	28/08/2025	French	PDF
Micro model	31/12/2023	31/05/2024	30/08/2024	French	PDF
Micro model	31/12/2022	26/05/2023	25/08/2023	French	PDF
Micro model	31/12/2021	27/05/2022	26/08/2022	French	PDF
Micro model	31/12/2020	28/05/2021	25/01/2022	French	PDF
Micro model	31/12/2019	29/05/2020	11/09/2020	French	PDF
Micro model	31/12/2018	07/06/2019	29/08/2019	French	PDF
Micro model	31/12/2017	27/04/2018	27/08/2018	French	PDF
Micro model	31/12/2016	23/06/2017	31/08/2017	French	PDF
Abridged model	31/12/2015	29/05/2016	26/08/2016	French	PDF
Abridged model	31/12/2014	19/06/2015	28/08/2015	French	PDF
Abridged model	31/12/2013	27/06/2014	22/08/2014	French	PDF
Abridged model	31/12/2012	28/06/2013	23/08/2013	French	PDF
Abridged model	31/12/2011	27/06/2012	23/08/2012	French	PDF
Abridged model	31/12/2010	23/08/2011	25/08/2011	French	PDF
Abridged model	31/12/2009	27/08/2010	31/08/2010	French	PDF
Abridged model	31/12/2008	31/07/2009	19/08/2009	French	PDF
Abridged model	31/12/2007	22/08/2008	29/08/2008	French	PDF
Abridged model	31/12/2006	17/08/2007	27/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 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 · 2 active · 17 ended

Active mandates

Gérard Vanhamme

Managing director · since 26 septembre 2022

Active

Séverine VANHAMME

Director · since 26 septembre 2022

Active

Ended mandates

Gérard Vanhamme

Managing director · since 29 mai 2020 · until 29 mai 2026

Ended

Pascal Lecomte

Director · since 29 mai 2020 · until 26 septembre 2022

Ended

Pascal Lecomte

Director · since 29 mai 2020 · until 29 mai 2026

Ended

Séverine Vanhamme

Director · since 29 mai 2020 · until 26 septembre 2022

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates30/09/2022
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DEMISSIONS, NOMINATIONS
PDF
Mandates17/03/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates08/01/2015
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Mandates06/07/2010
DEMISSIONS, NOMINATIONS
PDF
Mandates17/12/2007
DEMISSIONS, NOMINATIONS
PDF
Mandates04/11/2003
DEMISSIONS, NOMINATIONS
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 202541,8 k €↓
2024
Annual accounts 202446,8 k €↑
2023
Annual accounts 202327,2 k €↑
2022
Annual accounts 20228,3 k €↓
2021
Annual accounts 202124,9 k €↓
2020
Annual accounts 202032,5 k €↓
2019
Annual accounts 201933,9 k €↑
2018
Annual accounts 201829,6 k €↑
2017
Annual accounts 201723,5 k €↓
2016
Annual accounts 201626,9 k €↑
2015
Annual accounts 201521,1 k €↑
2014
Annual accounts 201413,9 k €↓
2013
Annual accounts 2013101,7 k €↑
2012
Annual accounts 201216,7 k €↑
2011
Annual accounts 2011-6 k €↑
2010
Annual accounts 2010-38,1 k €↓
2009
Annual accounts 2009-13,4 k €↑
2008
Annual accounts 2008-51,2 k €↓
2007
Annual accounts 2007-23,2 k €↓
2006
Annual accounts 200616,3 k €
23/12/1996
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

VHM

Overview

What does VHM 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