ACTIVE

VPK SERVICES

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Financial year 2025 · closed on 31/12/2025

Net result

6,5 M €

-28.6% YoY

Revenue

1,5 M €

+0.0% YoY

Equity

158,9 M €

+0.9% YoY

Workforce

45,4 ETP

+15.8% YoY

What does VPK SERVICES do?

VPK SERVICES is a Public limited company incorporated in 1998. Its registered office is in Dendermonde. It employs on average 45,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0464.538.245

Incorporation

06/11/1998

Legal form

Public limited company

Registered office

Oude baan (OUD) 120
9200 Dendermonde · FlandreSee on map

Contributed capital

5 000 000,00 €

Latest accounts

31/12/2025

Average workforce

45,4 ETP

Joint committees (1)

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2007		2006
Income statement
Revenue	1,5 M €	+0.0%	1,5 M €	+7.2%	1,4 M €	-17.9%	1,7 M €	+14.8%	1,5 M €	+28.2%	1,1 M €	-8.2%	1,2 M €	-52.0%	2,6 M €	-11.8%	2,9 M €	-10.4%	3,3 M €	-0.2%	3,3 M €	+5.3%	3,1 M €	+13.8%	2,7 M €	-8.8%	3 M €	+4.8%	2,9 M €	-14.2%	3,3 M €	+8.0%	3,1 M €	-26.9%	4,2 M €	+23.4%	3,4 M €
EBITDA	760,3 k €	+1137%	-73,3 k €	-105%	1,4 M €	+40.8%	988,1 k €	+381%	205,6 k €	-1.5%	208,9 k €	-55.5%	469,8 k €	-35.6%	729,4 k €	-36.9%	1,2 M €	-45.8%	2,1 M €	-10.4%	2,4 M €	+7.1%	2,2 M €	+20.5%	1,8 M €	+11.1%	1,7 M €	-10.3%	1,9 M €	-35.1%	2,9 M €	+29.9%	2,2 M €	-40.0%	3,7 M €	+18.1%	3,1 M €
Operating result	758 k €	+945%	-89,8 k €	-107%	1,4 M €	+41.4%	972,9 k €	+410%	190,7 k €	-1.1%	192,9 k €	-58.5%	465,4 k €	-36.1%	728,8 k €	-36.8%	1,2 M €	-43.9%	2,1 M €	-6.1%	2,2 M €	+5.9%	2,1 M €	+31.2%	1,6 M €	-2.1%	1,6 M €	-9.3%	1,8 M €	-31.3%	2,6 M €	+33.6%	1,9 M €	-33.0%	2,9 M €	+0.6%	2,9 M €
Net result	6,5 M €	-28.6%	9,1 M €	+16.2%	7,8 M €	+274%	-4,5 M €	-682%	771,3 k €	-50.7%	1,6 M €	+35.0%	1,2 M €	+181%	-1,4 M €	-233%	1,1 M €	-82.5%	6,1 M €	-27.8%	8,5 M €	-18.7%	10,5 M €	+9.6%	9,6 M €	-26.2%	12,9 M €	-5.9%	13,8 M €	+0.9%	13,6 M €	-29.5%	19,4 M €	+92.0%	10,1 M €	-18.9%	12,4 M €
Balance sheet
Equity	158,9 M €	+0.9%	157,4 M €	+6.1%	148,4 M €	+1.9%	145,6 M €	-3.0%	150,1 M €	+0.5%	149,3 M €	+1.1%	147,7 M €	+0.8%	146,6 M €	-1.0%	148 M €	+0.7%	146,9 M €	-67.5%	452,6 M €	+1.9%	444,1 M €	+2.4%	433,6 M €	+2.3%	424,1 M €	+3.1%	411,1 M €	+23.7%	332,4 M €	+4.3%	318,7 M €	+8.4%	293,9 M €	+15.8%	253,8 M €
Total assets	580 M €	+1.2%	573,2 M €	-14.1%	667,1 M €	+4.4%	638,8 M €	+14.7%	556,9 M €	+13.7%	489,6 M €	-4.6%	513,4 M €	+24.6%	412 M €	+16.4%	353,8 M €	+8.4%	326,5 M €	-51.3%	670,9 M €	+5.8%	634,4 M €	+2.8%	617,3 M €	+0.2%	616,4 M €	+4.7%	588,7 M €	+14.6%	513,8 M €	+6.2%	483,7 M €	+12.4%	430,3 M €	+16.3%	369,9 M €
Cash	63,8 M €	-22.1%	81,9 M €	-31.3%	119,2 M €	-35.9%	185,9 M €	+53.9%	120,8 M €	+62.9%	74,2 M €	+139%	31,1 M €	-31.9%	45,7 M €	+39310%	115,9 k €	-26.7%	158,2 k €	-80.0%	792,2 k €	-70.7%	2,7 M €	+93.1%	1,4 M €	-55.5%	3,2 M €	-29.5%	4,5 M €	-30.9%	6,5 M €	-11.2%	7,3 M €	+100%	3,6 M €	+24.0%	2,9 M €
Debts	420,7 M €	+1.7%	413,5 M €	-20.2%	518,4 M €	+5.3%	492,4 M €	+21.1%	406,6 M €	+19.5%	340,1 M €	-6.9%	365,5 M €	+37.8%	265,2 M €	+28.9%	205,7 M €	+14.7%	179,4 M €	-17.7%	218 M €	+14.8%	189,9 M €	+3.5%	183,4 M €	-4.6%	192,2 M €	+8.3%	177,5 M €	-2.2%	181,5 M €	+10.0%	164,9 M €	+21.1%	136,2 M €	+17.4%	116 M €
Other
Workforce	45,4 ETP	+15.8%	39,2 ETP	+6.2%	36,9 ETP	-0.8%	37,2 ETP	+5.1%	35,4 ETP	-12.8%	40,6 ETP	+5.2%	38,6 ETP	+10.3%	35,0 ETP	+6.1%	33,0 ETP	+4.8%	31,5 ETP	+7.9%	29,2 ETP	+9.8%	26,6 ETP	-1.1%	26,9 ETP	-0.4%	27,0 ETP	+1.9%	26,5 ETP	+1.9%	26,0 ETP	+5.3%	24,7 ETP	-5.7%	26,2 ETP	+25.4%	20,9 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 40 ended

Active mandates

VPK Packaging SAS

Director · since 27 août 2024 · until 02 juin 2028

Represented by Patrick Leclercq

Active

FinCoPro

Director · since 29 mars 2022 · until 02 juin 2028 · 0895.515.777

Represented by Erik Peeters

Active

UNI-PAR

Managing director · since 29 mars 2022 · until 02 juin 2028 · 0465.120.641

Represented by Pierre Macharis

Active

VPK Group

Director · since 29 mars 2022 · until 02 juin 2028 · 0400.313.852

Represented by Denis Zenner

Active

Ended mandates

VPK Packaging SAS

Director · since 21 septembre 2023 · until 21 septembre 2028

Represented by Philippe Tran

Ended

FinCoPro

Director · since 22 mars 2022 · until 02 juin 2028 · 0895.515.777

Represented by Erik Peeters

Ended

FinCoPro

Director · since 22 mars 2022 · until 02 juin 2028 · 0895.515.777

Represented by Erik Peeters

Ended

Ondulys Emballage SAS

Director · since 22 mars 2022 · until 02 juin 2028

Represented by Wim Messiaen

Ended

At this address

Other companies at this address

Company	CBE no.
ECOFORMER● Active	0440.269.637
Elounda● Active	0726.363.714
IMMOWELL● Active	0431.101.850
Kastano● Active	0751.616.970
KEMASAN● Active	0705.937.195
PERKAMENT● Active	0465.122.225
Sociaal Fonds VPK● Active	0442.227.651
UNIFIN● Active	0465.100.647
UNI-PAR● Active	0465.120.641
VPK● Active	1013.441.647
VPK Group● Active	0400.313.852
VPK PACKAGING● Active	0454.520.026
VPK Paper● Active	0454.519.927

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	10/06/2026	17/06/2025	13/06/2024	19/06/2023	16/06/2022	13/07/2021
General meeting	05/06/2026	06/06/2025	07/06/2024	02/06/2023	03/06/2022	04/06/2021
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
Full model	31/12/2025	05/06/2026	10/06/2026	Dutch	PDF
Full model	31/12/2024	06/06/2025	17/06/2025	Dutch	PDF
Full model	31/12/2023	07/06/2024	13/06/2024	Dutch	PDF
Full model	31/12/2022	02/06/2023	19/06/2023	Dutch	PDF
Full model	31/12/2021	03/06/2022	16/06/2022	Dutch	PDF
Full model	31/12/2020	04/06/2021	13/07/2021	Dutch	PDF
Full model	31/12/2019	26/06/2020	17/07/2020	Dutch	PDF
Full model	31/12/2018	07/06/2019	12/06/2019	Dutch	PDF
Full model	31/12/2017	01/06/2018	25/06/2018	Dutch	PDF
Full model	31/12/2016	02/06/2017	03/07/2017	Dutch	PDF
Full model	31/12/2015	03/06/2016	20/06/2016	Dutch	PDF
Full model	31/12/2014	24/04/2015	11/06/2015	Dutch	PDF
Full model	31/12/2013	25/04/2014	21/05/2014	Dutch	PDF
Full model	31/12/2012	26/04/2013	16/05/2013	Dutch	PDF
Full model	31/12/2011	27/04/2012	15/05/2012	Dutch	PDF
Full model	31/12/2010	29/04/2011	01/06/2011	Dutch	PDF
Full model	31/12/2009	30/04/2010	26/05/2010	Dutch	PDF
Full model	31/12/2008	24/04/2009	29/04/2009	Dutch	PDF
Full model	31/12/2007	25/04/2008	22/05/2008	Dutch	PDF
Full model	31/12/2006	27/04/2007	24/05/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 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 · 4 active · 40 ended

Active mandates

VPK Packaging SAS

Director · since 27 août 2024 · until 02 juin 2028

Represented by Patrick Leclercq

Active

FinCoPro

Director · since 29 mars 2022 · until 02 juin 2028 · 0895.515.777

Represented by Erik Peeters

Active

UNI-PAR

Managing director · since 29 mars 2022 · until 02 juin 2028 · 0465.120.641

Represented by Pierre Macharis

Active

VPK Group

Director · since 29 mars 2022 · until 02 juin 2028 · 0400.313.852

Represented by Denis Zenner

Active

Ended mandates

VPK Packaging SAS

Director · since 21 septembre 2023 · until 21 septembre 2028

Represented by Philippe Tran

Ended

FinCoPro

Director · since 22 mars 2022 · until 02 juin 2028 · 0895.515.777

Represented by Erik Peeters

Ended

FinCoPro

Director · since 22 mars 2022 · until 02 juin 2028 · 0895.515.777

Represented by Erik Peeters

Ended

Ondulys Emballage SAS

Director · since 22 mars 2022 · until 02 juin 2028

Represented by Wim Messiaen

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates20/07/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/09/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/11/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/10/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/07/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/04/2022
WIJZIGING RECHTSVORM - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/11/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/09/2021
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 20256,5 M €↓
2024
Annual accounts 20249,1 M €↑
31/07/2024
nominationVPK Packaging SAS — bestuurder
2023
Annual accounts 20237,8 M €↑
21/09/2023
nominationVPK Packaging SAS — bestuurder
02/06/2023
reconductionFilip De Bock — commissaris
2022
Annual accounts 2022-4,5 M €↓
2021
Annual accounts 2021771,3 k €↓
2020
Annual accounts 20201,6 M €↑
2019
Annual accounts 20191,2 M €↑
2018
Annual accounts 2018-1,4 M €↓
2017
Annual accounts 20171,1 M €↓
2016
Annual accounts 20166,1 M €↓
2015
Annual accounts 20158,5 M €↓
2014
Annual accounts 201410,5 M €↑
2013
Annual accounts 20139,6 M €↓
2012
Annual accounts 201212,9 M €↓
2011
Annual accounts 201113,8 M €↑
2010
Annual accounts 201013,6 M €↓
2009
Annual accounts 200919,4 M €↑
2007
Annual accounts 200710,1 M €↓
2006
Annual accounts 200612,4 M €
06/11/1998
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

VPK SERVICES

Overview

What does VPK SERVICES do?

Trend over 19 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