ACTIVE

VACA

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Financial year 2025 · closed on 31/12/2025

Net result

-9,4 M €

-781.4% YoY

Revenue

2,2 M €

-5.9% YoY

Equity

115,1 M €

-7.6% YoY

Workforce

7,0 ETP

0.0% YoY

What does VACA do?

VACA is a Cooperative society incorporated in 1997. Its registered office is in Oostende. It employs on average 7,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0461.255.289

Incorporation

09/06/1997

Legal form

Cooperative society

Registered office

Zeedijk 330
8400 Oostende · FlandreSee on map

Contributed capital

163 346 888,66 €

Latest accounts

31/12/2025

Average workforce

7,0 ETP

Joint committees (3)

100
200
20201

Signals

Solid equityLow riskGood liquidityPositive EBITDAHealthy social debtsHigh revenue

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 12 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014
Income statement
Revenue	2,2 M €	-5.9%	2,4 M €	+3.6%	2,3 M €	-3.9%	2,4 M €	-1.0%	2,4 M €	-11.5%	2,7 M €	-8.4%	2,9 M €	-2.1%	3 M €	-6.8%	3,2 M €	-1.9%	3,3 M €	-10.5%	3,7 M €	+40.7%	2,6 M €
EBITDA	2 M €	+8.6%	1,9 M €	+31.2%	1,4 M €	-7.3%	1,5 M €	+154%	605,1 k €	-8.3%	659,8 k €	-2.3%	675,2 k €	+136%	286,3 k €	+748%	-44,2 k €	-111%	419,2 k €	-34.5%	640,1 k €	+146%	259,8 k €
Operating result	2 M €	+8.5%	1,9 M €	+31.5%	1,4 M €	-6.4%	1,5 M €	+171%	556,1 k €	+17.0%	475,3 k €	-4.5%	497,5 k €	+107%	240,5 k €	+323%	-108 k €	-131%	346,5 k €	-15.4%	409,4 k €	+484%	70,1 k €
Net result	-9,4 M €	-781%	1,4 M €	+46.1%	947,5 k €	-0.5%	952,2 k €	+173%	-1,3 M €	-26.0%	-1 M €	+96.7%	-31,3 M €	-238%	-9,2 M €	-11172%	-82 k €	-124%	347,2 k €	-13.6%	401,7 k €	+488%	68,3 k €
Balance sheet
Equity	115,1 M €	-7.6%	124,5 M €	+1.1%	123,1 M €	+0.8%	122,2 M €	+0.8%	121,2 M €	+2.9%	117,8 M €	+1.1%	116,5 M €	-19.8%	145,3 M €	-4.6%	152,4 M €	+6.8%	142,6 M €	+0.2%	142,3 M €	+13.0%	125,9 M €
Total assets	117,1 M €	-7.6%	126,8 M €	+1.3%	125,2 M €	+0.8%	124,2 M €	+0.5%	123,5 M €	+2.9%	120,1 M €	+1.2%	118,7 M €	-19.2%	146,9 M €	-4.5%	153,8 M €	+7.3%	143,4 M €	-1.7%	145,9 M €	+13.8%	128,3 M €
Cash	4 M €	-8.3%	4,3 M €	+36.5%	3,2 M €	+9.9%	2,9 M €	+13.3%	2,5 M €	+17.5%	2,2 M €	+54.6%	1,4 M €	+10.5%	1,3 M €	+3.8%	1,2 M €	-48.7%	2,4 M €	+4.5%	2,3 M €	+40.4%	1,6 M €
Debts	2,1 M €	-10.1%	2,3 M €	+8.7%	2,1 M €	+5.0%	2 M €	-12.6%	2,3 M €	+0.2%	2,3 M €	+4.6%	2,2 M €	+33.2%	1,7 M €	+12.2%	1,5 M €	+91.7%	771,9 k €	-78.8%	3,6 M €	+54.2%	2,4 M €
Other
Workforce	7,0 ETP	0.0%	7,0 ETP	+1.4%	6,9 ETP	-10.4%	7,7 ETP	0.0%	7,7 ETP	0.0%	7,7 ETP	+5.5%	7,3 ETP	+4.3%	7,0 ETP	+2.9%	6,8 ETP	+13.3%	6,0 ETP	0.0%	6,0 ETP	+25.0%	4,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 6 active · 22 ended

Active mandates

Dirk CONINCKX

Director · since 01 janvier 2022 · until 19 juin 2026

Active

Eddy HUTTENER

Director · since 04 septembre 2020 · until 19 juin 2026

Active

Patrick VANDENBERGHE

Voorzitter · since 04 septembre 2020 · until 19 juin 2026

Active

Pierre CUPPENS

Ondervoorzitter · since 04 septembre 2020 · until 19 juin 2026

Active

Koen DE KINDER

Director · since 13 juin 2020 · until 19 juin 2026

Active

Luca BALDAN

Director · since 04 juin 2020 · until 19 juin 2026

Active

Ended mandates

Dirk CONINCKX

Director · since 01 janvier 2022 · until 13 juin 2026

Ended

Eddy Huttener

Director · since 04 septembre 2020 · until 13 juin 2026

Ended

Justin Daerden

Director · since 04 septembre 2020 · until 13 juin 2026

Ended

Justin DAERDEN

Director · since 04 septembre 2020 · until 31 décembre 2021

Ended

At this address

Other companies at this address

Company	CBE no.
GROEP VACA● Active	0568.534.420
Vayamundo Oostende● Active	0411.883.873

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	29/06/2026	25/06/2025	25/06/2024	20/06/2023	28/06/2022	05/07/2021
General meeting	19/06/2026	20/06/2025	21/06/2024	16/06/2023	17/06/2022	11/06/2021
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

12 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	19/06/2026	29/06/2026	Dutch	PDF
Full model	31/12/2024	20/06/2025	25/06/2025	Dutch	PDF
Full model	31/12/2023	21/06/2024	25/06/2024	Dutch	PDF
Full model	31/12/2022	16/06/2023	20/06/2023	Dutch	PDF
Full model	31/12/2021	17/06/2022	28/06/2022	Dutch	PDF
Full model	31/12/2020	11/06/2021	05/07/2021	Dutch	PDF
Full model	31/12/2019	04/09/2020	09/09/2020	Dutch	PDF
Full model	31/12/2018	15/06/2019	24/06/2019	Dutch	PDF
Full model	31/12/2017	16/06/2018	10/07/2018	Dutch	PDF
Full model	31/12/2016	17/06/2017	28/06/2017	Dutch	PDF
Full model	31/12/2015	11/06/2016	30/06/2016	Dutch	PDF
Full model	31/12/2014	27/08/2015	27/08/2015	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 · 6 active · 22 ended

Active mandates

Dirk CONINCKX

Director · since 01 janvier 2022 · until 19 juin 2026

Active

Eddy HUTTENER

Director · since 04 septembre 2020 · until 19 juin 2026

Active

Patrick VANDENBERGHE

Voorzitter · since 04 septembre 2020 · until 19 juin 2026

Active

Pierre CUPPENS

Ondervoorzitter · since 04 septembre 2020 · until 19 juin 2026

Active

Koen DE KINDER

Director · since 13 juin 2020 · until 19 juin 2026

Active

Luca BALDAN

Director · since 04 juin 2020 · until 19 juin 2026

Active

Ended mandates

Dirk CONINCKX

Director · since 01 janvier 2022 · until 13 juin 2026

Ended

Eddy Huttener

Director · since 04 septembre 2020 · until 13 juin 2026

Ended

Justin Daerden

Director · since 04 septembre 2020 · until 13 juin 2026

Ended

Justin DAERDEN

Director · since 04 septembre 2020 · until 31 décembre 2021

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates24/10/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/11/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates31/03/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/11/2020
ONTSLAGEN - BENOEMINGEN
PDF
Other08/10/2020
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM
PDF
Mandates05/10/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/10/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates11/07/2018
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 2025-9,4 M €↓
20/06/2025
reconductionKPMG Bedrijfsrevisoren BV — commissaris
20/06/2025
nominationSteven Van Campenhout — vaste vertegenwoordiger
2024
Annual accounts 20241,4 M €↑
2024
Name changeVaca CV-SO
2023
Annual accounts 2023947,5 k €↓
2022
Annual accounts 2022952,2 k €↑
08/06/2022
nominationMelanie Vanhesschen — uitvoerend directeur met de titel Verantwoordelijke Immo
01/01/2022
nominationDirk Coninckx — gecoöpteerde bestuurder
2021
Annual accounts 2021-1,3 M €↓
2020
Annual accounts 2020-1 M €↑
2019
Annual accounts 2019-31,3 M €↓
2018
Annual accounts 2018-9,2 M €↓
2017
Annual accounts 2017-82 k €↓
2016
Annual accounts 2016347,2 k €↓
2015
Annual accounts 2015401,7 k €↑
2014
Annual accounts 201468,3 k €
2014
Name changeVACA
09/06/1997
IncorporationCooperative society

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

VACA

Overview

What does VACA do?

Trend over 12 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