VNL
0459.593.423 · rovalta.com · 23/09/2026
ACTIVE
VNL
Financial year 2025 · closed on 31/12/2025
Net result
-963,2 k €
-279.3% YoY
Equity
162,5 M €
-0.6% YoY
Workforce
1,2 ETP
Overview
What does VNL do?
VNL is a Private limited company incorporated in 1996. Its main activity is: Activities of holding companies. Its registered office is in Antwerpen. It employs on average 1,2 ETP workers (FTE).
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0459.593.423
Incorporation
23/12/1996
Legal form
Private limited company
Registered office
Frankrijklei 5 box 401
2000 Antwerpen · FlandreSee on map
2000 Antwerpen · FlandreSee on map
Contributed capital
62 000,00 €
Latest accounts
31/12/2025
Average workforce
1,2 ETP
Activities (NACE)
Joint committees (1)
- 200
Signals
Solid equityLow riskGood liquidityHealthy social debts
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Financials
Trend over 17 financial years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2018 | 2017 | 2016 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||||||||||||||||||||||||||
| Gross margin | – | – | – | – | – | – | – | – | -260,7 k € | +17.0% | -314,3 k € | -55.3% | -202,3 k € | -1547% | -12,3 k € | +91.0% | -137,1 k € | +3.8% | -142,5 k € | -162% | 230,1 k € | +1080% | -23,5 k € | +27.5% | -32,4 k € | ||||||||
| EBITDA | -530,7 k € | -79.3% | -296,1 k € | -39.2% | -212,8 k € | +23.3% | -277,4 k € | -264% | -76,1 k € | +62.5% | -203,2 k € | +65.7% | -592,8 k € | +16.1% | -706,6 k € | -170% | -262,2 k € | +16.9% | -315,4 k € | -55.0% | -203,5 k € | -1375% | -13,8 k € | +90.0% | -138,2 k € | +4.6% | -144,9 k € | -163% | 229 k € | +1006% | -25,3 k € | +23.7% | -33,1 k € |
| Operating result | -530,7 k € | -79.3% | -296,1 k € | -39.2% | -212,8 k € | +23.3% | -277,4 k € | -264% | -76,1 k € | +62.5% | -203,2 k € | +65.7% | -592,8 k € | +16.1% | -706,6 k € | -170% | -262,2 k € | +63.5% | -718,1 k € | -0.7% | -713,4 k € | -5071% | -13,8 k € | +90.0% | -138,2 k € | +4.6% | -144,9 k € | -163% | 229 k € | +163% | -365,9 k € | -1004% | -33,1 k € |
| Net result | -963,2 k € | -279% | 537,1 k € | -78.2% | 2,5 M € | +471% | 431,4 k € | -92.3% | 5,6 M € | +150683% | 3,7 k € | -99.6% | 930,8 k € | +45.6% | 639 k € | -78.2% | 2,9 M € | -45.7% | 5,4 M € | -22.5% | 7 M € | +42.1% | 4,9 M € | +11.0% | 4,4 M € | +189% | 1,5 M € | -81.2% | 8,1 M € | +195% | 2,8 M € | -22.5% | 3,6 M € |
| Balance sheet | |||||||||||||||||||||||||||||||||
| Equity | 162,5 M € | -0.6% | 163,4 M € | +0.3% | 162,9 M € | +1.5% | 160,4 M € | +0.3% | 160 M € | +4.6% | 152,9 M € | +1.3% | 151 M € | +0.6% | 150,1 M € | +32.2% | 113,5 M € | +2.1% | 111,2 M € | +5.1% | 105,8 M € | +7.1% | 98,8 M € | +5.2% | 93,9 M € | +5.0% | 89,4 M € | +1.7% | 87,9 M € | +10.2% | 79,8 M € | +3.6% | 77 M € |
| Total assets | 176,8 M € | +7.6% | 164,3 M € | +0.4% | 163,6 M € | +1.9% | 160,6 M € | +0.4% | 160,1 M € | +3.7% | 154,4 M € | +0.7% | 153,3 M € | +0.4% | 152,7 M € | +22.8% | 124,3 M € | +0.1% | 124,2 M € | +6.1% | 117,1 M € | +7.1% | 109,3 M € | +2.6% | 106,6 M € | +6.8% | 99,8 M € | -2.4% | 102,2 M € | +4.5% | 97,8 M € | +0.4% | 97,4 M € |
| Cash | 9 M € | -2.0% | 9,2 M € | -51.2% | 18,8 M € | -12.1% | 21,4 M € | +7.8% | 19,8 M € | -40.8% | 33,5 M € | -38.8% | 54,7 M € | -9.1% | 60,2 M € | +1573% | 3,6 M € | +16784% | 21,3 k € | -99.4% | 3,3 M € | +8943% | 37 k € | -89.6% | 354,6 k € | -49.6% | 703,9 k € | -36.0% | 1,1 M € | +341% | 249,4 k € | -74.8% | 988,9 k € |
| Debts | 14,2 M € | +1645% | 816,6 k € | +14.2% | 715,2 k € | +315% | 172,5 k € | +182% | 61,3 k € | -95.8% | 1,5 M € | -35.6% | 2,3 M € | -12.9% | 2,6 M € | -75.9% | 10,8 M € | -17.0% | 13 M € | +15.1% | 11,3 M € | +7.8% | 10,5 M € | -17.2% | 12,7 M € | +23.1% | 10,3 M € | -27.8% | 14,3 M € | -20.7% | 18 M € | -11.6% | 20,3 M € |
| Other | |||||||||||||||||||||||||||||||||
| Workforce | 1,2 ETP | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | ||||||||||||||||
Estimate
Indicative valuation
As an indication, this company is worth
between 100 M€ and 250 M€
See the valuationGovernance
Board of directors
Seen on filing of 31/12/2025 · 2 active · 17 ended
At this address
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Financials
Annual accounts
Full financial information
| 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 | 31/08/2026 | 01/07/2025 | 27/08/2024 | 06/10/2023 | 19/07/2022 | 29/03/2021 |
| General meeting | 31/07/2026 | 30/06/2025 | 30/07/2024 | 29/09/2023 | 27/06/2022 | 29/03/2021 |
| 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
Looking for more information about this company?
Try for 7 daysFilings
Annual accounts filings
22 filings with the NBB
| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Full model | 31/12/2025 | 31/07/2026 | 31/08/2026 | Dutch | |
| Full model | 31/12/2024 | 30/06/2025 | 01/07/2025 | Dutch | |
| Full model | 31/12/2023 | 30/07/2024 | 27/08/2024 | Dutch | |
| Full model | 31/12/2022 | 29/09/2023 | 06/10/2023 | Dutch | |
| Full model | 31/12/2021 | 27/06/2022 | 19/07/2022 | Dutch | |
| Full model | 31/12/2020 | 29/03/2021 | 29/03/2021 | Dutch | |
| Full model | 31/12/2019 | 31/08/2020 | 30/09/2020 | Dutch | |
| Full model | 31/12/2018 | 16/12/2019 | 23/12/2019 | Dutch | |
| Full modelCorrection | 31/12/2017 | 06/06/2019 | 04/07/2019 | Dutch | |
| Full model | 31/12/2017 | 17/12/2018 | 18/12/2018 | Dutch | |
| Full model | 31/12/2016 | 26/06/2017 | 18/12/2018 | Dutch | |
| Abridged model | 31/12/2015 | 27/06/2016 | 05/06/2018 | Dutch | |
| Abridged model | 31/12/2014 | 29/06/2015 | 02/05/2018 | Dutch | |
| Abridged model | 31/12/2013 | 30/06/2014 | 02/08/2016 | Dutch | |
| Abridged model | 31/12/2012 | 24/06/2013 | 30/09/2013 | Dutch | |
| Abridged model | 31/12/2011 | 25/06/2012 | 19/09/2012 | Dutch | |
| Abridged model | 31/12/2010 | 27/06/2011 | 13/10/2011 | Dutch | |
| Abridged model | 31/12/2009 | 28/06/2010 | 13/09/2010 | Dutch | |
| Abridged model | 31/12/2008 | 29/06/2009 | 16/10/2009 | Dutch | |
| Abridged model | 31/12/2007 | 30/06/2008 | 09/10/2008 | Dutch | |
| Abridged model | 31/12/2006 | 25/06/2007 | 05/02/2008 | Dutch | |
| Abridged model | 31/12/2005 | 26/06/2006 | 03/05/2007 | Dutch |
Valuation
Estimate
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.
Disclaimer
Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.
Directors & structure
Governance
Board of directors
Seen on filing of 31/12/2025 · 2 active · 17 ended
Shareholders
Ownership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette
Belgian Official Gazette publications
- Registered office26/04/2024MAATSCHAPPELIJKE ZETEL
- Mandates23/04/2021BENAMING - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM
- Mandates31/08/2020ONTSLAGEN - BENOEMINGEN
- Registered office11/08/2020MAATSCHAPPELIJKE ZETEL
- Mandates24/12/2018ONTSLAGEN - BENOEMINGEN
- Mandates05/06/2018ONTSLAGEN - BENOEMINGEN
- Mandates16/12/2011ONTSLAGEN - BENOEMINGEN
- Mandates07/11/2008ONTSLAGEN - BENOEMINGEN
Source: Belgian Official Gazette
Similar companies
Competition
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
- 2025Annual accounts 2025-963,2 k €↓
- 2024Annual accounts 2024537,1 k €↓
- 2023Annual accounts 20232,5 M €↑
- 2022Annual accounts 2022431,4 k €↓
- 2021Annual accounts 20215,6 M €↑
- 2021Name changeVNL
- 2018Annual accounts 20183,7 k €↓
- 2017Annual accounts 2017930,8 k €↑
- 2016Annual accounts 2016639 k €↓
- 2013Annual accounts 20132,9 M €↓
- 2012Annual accounts 20125,4 M €↓
- 2011Annual accounts 20117 M €↑
- 2010Annual accounts 20104,9 M €↑
- 2009Annual accounts 20094,4 M €↑
- 2008Annual accounts 20081,5 M €↓
- 2007Annual accounts 20078,1 M €↑
- 2006Annual accounts 20062,8 M €↓
- 2005Annual accounts 20053,6 M €
- 2005Name changeXANTIPPE
- 23/12/1996IncorporationPrivate limited company