ACTIVE

VANDES

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Financial year 2025 · closed on 31/12/2025

Net result

140,4 k €

+14.9% YoY

Gross margin

385,3 k €

+10.7% YoY

Equity

1,9 M €

+7.9% YoY

What does VANDES do?

VANDES is a Private limited company incorporated in 2001. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in De Panne.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0474.805.694

Incorporation

16/05/2001

Legal form

Private limited company

Registered office

Smokkelpad 8
8660 De Panne · FlandreSee on map

Contributed capital

487 889,32 €

Latest accounts

31/12/2025

Activities (NACE)

68201Rental and operating of own or leased real estate· main 68201Rental and operating of own or leased real estate 70120Activities of head offices 68100Buying and selling of own real estate 68110Buying and selling of own real estate

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	385,3 k €	+10.7%	348 k €	-4.9%	366 k €	+1.4%	360,8 k €	+129%	157,8 k €	+111%	74,8 k €	-69.6%	245,9 k €	+0.3%	245,2 k €	+10.9%	221,1 k €	+31.6%	168 k €	+9.4%	153,6 k €	-7.5%	166 k €	+2.4%	162 k €	+14.3%	141,8 k €	+17.1%	121,1 k €	+0.8%	120,1 k €	-1.3%	121,8 k €	+4.5%	116,6 k €	-1.3%	118,1 k €	+12.3%	105,2 k €
EBITDA	337 k €	+11.9%	301,2 k €	-6.3%	321,4 k €	+0.3%	320,3 k €	+129%	140,1 k €	+179%	50,2 k €	-77.4%	222,3 k €	+0.1%	222,1 k €	+12.6%	197,3 k €	+26.8%	155,6 k €	+10.1%	141,3 k €	-8.1%	153,7 k €	+1.9%	150,8 k €	+15.0%	131,1 k €	+17.6%	111,4 k €	+0.4%	111 k €	-1.3%	112,5 k €	+4.5%	107,6 k €	-1.8%	109,6 k €	+13.2%	96,7 k €
Operating result	191,3 k €	+17.0%	163,5 k €	-11.7%	185,1 k €	-5.5%	195,8 k €	+483%	33,6 k €	+239%	-24,2 k €	-117%	141,2 k €	-4.8%	148,3 k €	+25.6%	118,1 k €	+6.2%	111,1 k €	+18.2%	94 k €	-15.8%	111,7 k €	+1.3%	110,2 k €	+67.7%	65,8 k €	-15.8%	78,1 k €	+1.4%	77,1 k €	-3.1%	79,5 k €	+6.9%	74,4 k €	-0.1%	74,4 k €	+21.5%	61,3 k €
Net result	140,4 k €	+14.9%	122,2 k €	-26.7%	166,7 k €	-9.5%	184,2 k €	+645%	24,7 k €	+202%	-24,2 k €	-126%	93,3 k €	-1.0%	94,2 k €	+40.3%	67,2 k €	+19.9%	56 k €	+12.0%	50 k €	-23.4%	65,3 k €	+6.2%	61,5 k €	+87.7%	32,8 k €	-18.8%	40,3 k €	+10.7%	36,4 k €	+5.7%	34,4 k €	+89.3%	18,2 k €	-44.7%	32,9 k €	-0.6%	33,1 k €
Balance sheet
Equity	1,9 M €	+7.9%	1,8 M €	+7.4%	1,7 M €	+11.2%	1,5 M €	+14.1%	1,3 M €	+1.9%	1,3 M €	-1.9%	1,3 M €	+7.7%	1,2 M €	+8.5%	1,1 M €	+79.4%	620,9 k €	+9.9%	564,8 k €	+9.7%	514,8 k €	+14.5%	449,5 k €	+15.9%	388 k €	+9.2%	355,2 k €	+12.8%	314,9 k €	+13.1%	278,4 k €	+14.1%	244 k €	+8.1%	225,8 k €	+17.1%	192,9 k €
Total assets	2,5 M €	+1.7%	2,5 M €	+0.9%	2,5 M €	-2.0%	2,5 M €	-11.3%	2,8 M €	+105%	1,4 M €	+3.5%	1,3 M €	+2.9%	1,3 M €	-0.6%	1,3 M €	+40.3%	932,4 k €	-3.9%	969,8 k €	-5.7%	1 M €	-0.0%	1 M €	-3.0%	1,1 M €	+45.7%	727,9 k €	-4.7%	763,4 k €	-7.4%	824,1 k €	-4.9%	866,6 k €	-2.8%	891,3 k €	+6.8%	834,2 k €
Cash	507,4 k €	+21.4%	417,9 k €	+88.5%	221,7 k €	-10.6%	248,1 k €	+64.4%	150,9 k €	+17.6%	128,3 k €	-11.1%	144,4 k €	+9.8%	131,5 k €	+76.0%	74,7 k €	+364%	16,1 k €	+78.3%	9 k €	-80.6%	46,5 k €	+346%	10,4 k €	+2669%	377,1 €	-94.2%	6,6 k €	-26.3%	8,9 k €	-77.3%	39,1 k €	-19.7%	48,7 k €	+50.5%	32,4 k €	+96.7%	16,5 k €
Debts	589,5 k €	-14.3%	687,8 k €	-12.9%	789,4 k €	-21.3%	1 M €	-34.4%	1,5 M €	+1343%	105,9 k €	+190%	36,5 k €	-60.0%	91,1 k €	-52.9%	193,4 k €	-37.7%	310,5 k €	-23.1%	403,5 k €	-21.2%	511,7 k €	-11.1%	575,6 k €	-13.5%	665,1 k €	+80.8%	367,9 k €	-16.1%	438,3 k €	-18.6%	538,7 k €	-12.5%	615,4 k €	-6.6%	658,8 k €	+3.9%	633,9 k €

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 · 2 active · 15 ended

Active mandates

Frank Vanhollebeke

Director

Active

Gerda Desloover

Director

Active

Ended mandates

Frank Vanhollebeke

Managing director · since 03 août 2023 · until 29 juin 2029

Ended

Gerda Desloover

Managing director · since 03 août 2023 · until 29 juin 2029

Ended

FRANK VANHOLLEBEKE

Managing director · since 07 juin 2019 · until 06 juin 2025

Ended

GERDA DESLOOVER

Managing director · since 07 juin 2019 · until 06 juin 2025

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro 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	20/07/2026	06/07/2025	05/07/2024	24/06/2023	27/07/2022	23/07/2021
General meeting	26/06/2026	27/06/2025	28/06/2024	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
Micro model	31/12/2025	26/06/2026	20/07/2026	Dutch	PDF
Micro model	31/12/2024	27/06/2025	06/07/2025	Dutch	PDF
Micro model	31/12/2023	28/06/2024	05/07/2024	Dutch	PDF
Micro model	31/12/2022	02/06/2023	24/06/2023	Dutch	PDF
Micro model	31/12/2021	03/06/2022	27/07/2022	Dutch	PDF
Abridged model	31/12/2020	04/06/2021	23/07/2021	Dutch	PDF
Abridged model	31/12/2019	05/06/2020	15/07/2020	Dutch	PDF
Abridged model	31/12/2018	07/06/2019	25/07/2019	Dutch	PDF
Abridged model	31/12/2017	29/06/2018	30/08/2018	Dutch	PDF
Abridged model	31/12/2016	02/06/2017	24/07/2017	Dutch	PDF
Abridged model	31/12/2015	03/06/2016	08/07/2016	Dutch	PDF
Abridged model	31/12/2014	05/06/2015	30/07/2015	Dutch	PDF
Abridged model	31/12/2013	06/06/2014	12/06/2014	Dutch	PDF
Abridged model	31/12/2012	07/06/2013	03/07/2013	Dutch	PDF
Abridged model	31/12/2011	01/06/2012	05/06/2012	Dutch	PDF
Abridged model	31/12/2010	03/06/2011	29/07/2011	Dutch	PDF
Abridged model	31/12/2009	04/06/2010	26/08/2010	Dutch	PDF
Abridged model	31/12/2008	05/06/2009	24/08/2009	Dutch	PDF
Abridged model	31/12/2007	06/06/2008	29/08/2008	Dutch	PDF
Abridged model	31/12/2006	01/06/2007	08/08/2007	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 · 2 active · 15 ended

Active mandates

Frank Vanhollebeke

Director

Active

Gerda Desloover

Director

Active

Ended mandates

Frank Vanhollebeke

Managing director · since 03 août 2023 · until 29 juin 2029

Ended

Gerda Desloover

Managing director · since 03 août 2023 · until 29 juin 2029

Ended

FRANK VANHOLLEBEKE

Managing director · since 07 juin 2019 · until 06 juin 2025

Ended

GERDA DESLOOVER

Managing director · since 07 juin 2019 · until 06 juin 2025

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates07/07/2025
WIJZIGING RECHTSVORM - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/08/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Registered office05/11/2020
MAATSCHAPPELIJKE ZETEL
PDF
Mandates08/08/2019
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring05/07/2017
KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring09/05/2017
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates23/07/2013
ONTSLAGEN - BENOEMINGEN
PDF
Mandates29/08/2007
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 2025140,4 k €↑
2024
Annual accounts 2024122,2 k €↓
2023
Annual accounts 2023166,7 k €↓
2022
Annual accounts 2022184,2 k €↑
2021
Annual accounts 202124,7 k €↑
2020
Annual accounts 2020-24,2 k €↓
2019
Annual accounts 201993,3 k €↓
2018
Annual accounts 201894,2 k €↑
2017
Annual accounts 201767,2 k €↑
2016
Annual accounts 201656 k €↑
2015
Annual accounts 201550 k €↓
2014
Annual accounts 201465,3 k €↑
2013
Annual accounts 201361,5 k €↑
2012
Annual accounts 201232,8 k €↓
2011
Annual accounts 201140,3 k €↑
2010
Annual accounts 201036,4 k €↑
2009
Annual accounts 200934,4 k €↑
2008
Annual accounts 200818,2 k €↓
2007
Annual accounts 200732,9 k €↓
2006
Annual accounts 200633,1 k €
16/05/2001
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

VANDES

Overview

What does VANDES do?

Trend over 20 financial years

Indicative valuation

Board of directors

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