ACTIVE

VECON

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Financial year 2025 · closed on 30/09/2025

Net result

79,3 k €

-36.6% YoY

Gross margin

114,6 k €

+49.6% YoY

Equity

889,2 k €

+55.4% YoY

Workforce

0,0 ETP

What does VECON do?

VECON is a Private limited company incorporated in 2002. Its main activity is: Management consultancy activities. Its registered office is in Schilde.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0476.505.075

Incorporation

22/01/2002

Legal form

Private limited company

Registered office

Den Aard 28
2970 Schilde · FlandreSee on map

Contributed capital

38 517,00 €

Latest accounts

30/09/2025

Average workforce

0,0 ETP

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	114,6 k €	+49.6%	76,6 k €	-79.3%	370,9 k €	+422%	71,1 k €	+5.5%	67,4 k €	-8.6%	73,8 k €	+92.4%	38,3 k €	-44.6%	69,2 k €	-39.3%	113,9 k €	+215%	36,2 k €	-51.2%	74,1 k €	+2.8%	72,1 k €	+4.2%	69,2 k €	-22.8%	89,7 k €	+5.5%	85 k €	+34.4%	63,3 k €	+0.6%	62,9 k €	+298%	15,8 k €	-72.4%	57,2 k €
EBITDA	103,4 k €	+39.2%	74,3 k €	-77.3%	327,7 k €	+581%	48,2 k €	-5.6%	51 k €	+0.1%	50,9 k €	+121%	23,1 k €	-46.7%	43,3 k €	-54.9%	95,9 k €	+335%	22 k €	-68.2%	69,3 k €	+5.1%	65,9 k €	+0.1%	65,8 k €	-13.8%	76,4 k €	-6.5%	81,7 k €	+65.1%	49,5 k €	-16.2%	59 k €	+554%	9 k €	-81.2%	48 k €
Operating result	102,4 k €	+41.9%	72,2 k €	-77.7%	323,9 k €	+621%	44,9 k €	+4.0%	43,1 k €	-0.1%	43,2 k €	+158%	16,7 k €	-23.3%	21,8 k €	-62.4%	58 k €	+486%	-15 k €	-187%	17,4 k €	-41.7%	29,8 k €	+58.4%	18,8 k €	-37.0%	29,9 k €	-34.3%	45,4 k €	+244%	13,2 k €	-58.1%	31,5 k €	+211%	-28,4 k €	-300%	14,2 k €
Net result	79,3 k €	-36.6%	124,9 k €	-39.5%	206,5 k €	+442%	38,1 k €	-1.6%	38,7 k €	+85.9%	20,8 k €	+999%	1,9 k €	-91.5%	22,4 k €	-50.2%	45 k €	+9.5%	41,1 k €	+598%	5,9 k €	-62.2%	15,6 k €	+351%	3,5 k €	-16.3%	4,1 k €	-80.8%	21,5 k €	-42.6%	37,4 k €	+517%	6,1 k €	-89.7%	59,2 k €	+404%	11,7 k €
Balance sheet
Equity	889,2 k €	+55.4%	572,3 k €	-8.2%	623,3 k €	+37.1%	454,5 k €	+9.2%	416,4 k €	-8.7%	456 k €	+4.8%	435,1 k €	+0.4%	433,2 k €	-9.5%	478,8 k €	+3.6%	462,1 k €	-10.3%	515,1 k €	+1.2%	509,3 k €	+3.2%	493,7 k €	+23.7%	399 k €	+1.0%	394,8 k €	+112%	186,5 k €	+25.1%	149 k €	+4.2%	142,9 k €	+70.7%	83,7 k €
Total assets	1 M €	+50.5%	684,9 k €	-4.5%	717,3 k €	-5.0%	755,5 k €	+0.4%	752,7 k €	+8.3%	694,8 k €	+18.8%	584,7 k €	-17.7%	710,7 k €	-10.5%	794,5 k €	+10.4%	719,4 k €	+1.7%	707,7 k €	+1.9%	694,7 k €	+1.4%	685,4 k €	+10.2%	621,8 k €	+11.5%	557,5 k €	+80.0%	309,7 k €	+25.2%	247,5 k €	-14.6%	289,6 k €	-3.0%	298,6 k €
Cash	18,4 k €	+153%	7,3 k €	-86.8%	55 k €	-67.4%	168,5 k €	+72.3%	97,8 k €	+601%	14 k €	-86.2%	101,4 k €	-54.7%	224,1 k €	+945%	21,4 k €	-58.0%	51 k €	-47.1%	96,4 k €	+316%	23,2 k €	-63.3%	63,1 k €	-51.2%	129,3 k €	+119%	59 k €	+5651%	1 k €	-98.5%	66,8 k €	+409%	13,1 k €	-14.4%	15,3 k €
Debts	141,6 k €	+25.8%	112,6 k €	+20.8%	93,2 k €	-69.0%	300,2 k €	-10.7%	336,4 k €	+47.3%	228,4 k €	+64.1%	139,2 k €	-44.3%	250 k €	-20.8%	315,8 k €	+22.7%	257,3 k €	+33.6%	192,5 k €	+4.5%	184,3 k €	-3.9%	191,7 k €	-14.0%	222,9 k €	+37.0%	162,6 k €	+31.9%	123,3 k €	+25.2%	98,4 k €	-32.9%	146,7 k €	-31.7%	214,9 k €
Other
Workforce	0,0 ETP		0,0 ETP	-100%	0,6 ETP	0.0%	0,6 ETP	0.0%	0,6 ETP	0.0%	0,6 ETP	+100%	0,3 ETP	-40.0%	0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 2 active · 6 ended

Active mandates

Milena Malandruccolo

Director · since 01 novembre 2009

Active

Eric Karel Verhaegen

Director · since 17 janvier 2002

Active

Ended mandates

Milena Malandruccolo

Manager · since 01 novembre 2009

Ended

Brigitte Pighini

Manager · since 17 janvier 2002 · until 30 septembre 2006

Ended

Eric Verhaegen

Director · since 17 janvier 2002

Ended

Eric Verhaegen

Manager · since 17 janvier 2002

Ended

At this address

Other companies at this address

Company	CBE no.
AEDIFICIUM● Active	0870.629.141
AVANTI HOLDING● Active	0804.807.911
FASTIGIUM● Active	0881.538.176

Annual accounts

Full financial information

	2025	2024	2023	2021	2020	2019
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/10/2024	01/10/2023	01/01/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	31/12/2021	31/12/2020	31/12/2019
Length of the financial year	12 months	12 months	21 months	12 months	12 months	12 months
Filing date	10/04/2026	06/11/2024	23/02/2024	22/06/2022	07/07/2021	06/05/2020
General meeting	31/03/2026	21/10/2024	23/02/2024	21/06/2022	15/06/2021	30/04/2020
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/09/2025	31/03/2026	10/04/2026	Dutch	PDF
Abridged model	30/09/2024	21/10/2024	06/11/2024	Dutch	PDF
Abridged model	30/09/2023	23/02/2024	23/02/2024	Dutch	PDF
Abridged model	31/12/2021	21/06/2022	22/06/2022	Dutch	PDF
Abridged model	31/12/2020	15/06/2021	07/07/2021	Dutch	PDF
Abridged model	31/12/2019	30/04/2020	06/05/2020	Dutch	PDF
Abridged model	31/12/2018	30/06/2019	27/08/2019	Dutch	PDF
Abridged model	31/12/2017	19/06/2018	29/06/2018	Dutch	PDF
Abridged model	31/12/2016	09/05/2017	10/05/2017	Dutch	PDF
Abridged model	31/12/2015	28/04/2016	10/05/2016	Dutch	PDF
Abridged model	31/12/2014	30/06/2015	29/07/2015	Dutch	PDF
Abridged model	31/12/2013	17/06/2014	26/06/2014	Dutch	PDF
Abridged model	31/12/2012	30/04/2013	03/05/2013	Dutch	PDF
Abridged model	31/12/2011	19/06/2012	09/07/2012	Dutch	PDF
Abridged model	31/12/2010	21/06/2011	07/07/2011	Dutch	PDF
Abridged model	31/12/2009	15/06/2010	14/07/2010	Dutch	PDF
Abridged model	31/12/2008	30/06/2009	27/07/2009	Dutch	PDF
Abridged model	31/12/2007	17/06/2008	23/06/2008	Dutch	PDF
Abridged model	31/12/2006	30/06/2007	20/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 30/09/2025 · 2 active · 6 ended

Active mandates

Milena Malandruccolo

Director · since 01 novembre 2009

Active

Eric Karel Verhaegen

Director · since 17 janvier 2002

Active

Ended mandates

Milena Malandruccolo

Manager · since 01 novembre 2009

Ended

Brigitte Pighini

Manager · since 17 janvier 2002 · until 30 septembre 2006

Ended

Eric Verhaegen

Director · since 17 janvier 2002

Ended

Eric Verhaegen

Manager · since 17 janvier 2002

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates20/12/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DIVERSEN - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING - BOEKJAAR
PDF
Registered office04/03/2016
MAATSCHAPPELIJKE ZETEL
PDF
Mandates08/01/2010
ONTSLAGEN - BENOEMINGEN
PDF
Registered office28/01/2009
MAATSCHAPPELIJKE ZETEL
PDF
Registered office21/05/2007
MAATSCHAPPELIJKE ZETEL
PDF
Mandates09/03/2007
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares23/04/2004
KAPITAAL - AANDELEN - ALGEMENE VERGADERING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
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 202579,3 k €↓
2024
Annual accounts 2024124,9 k €↓
2023
Annual accounts 2023206,5 k €↑
2021
Annual accounts 202138,1 k €↓
2020
Annual accounts 202038,7 k €↑
2019
Annual accounts 201920,8 k €↑
2018
Annual accounts 20181,9 k €↓
2017
Annual accounts 201722,4 k €↓
2016
Annual accounts 201645 k €↑
2015
Annual accounts 201541,1 k €↑
2014
Annual accounts 20145,9 k €↓
2013
Annual accounts 201315,6 k €↑
2012
Annual accounts 20123,5 k €↓
2011
Annual accounts 20114,1 k €↓
2010
Annual accounts 201021,5 k €↓
2009
Annual accounts 200937,4 k €↑
2008
Annual accounts 20086,1 k €↓
2007
Annual accounts 200759,2 k €↑
2006
Annual accounts 200611,7 k €
22/01/2002
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

VECON

Overview

What does VECON 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