ACTIVE

VS-PROJECTS

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Financial year 2025 · closed on 30/09/2025

Net result

8,1 k €

-65.3% YoY

Gross margin

14,6 k €

-62.1% YoY

Equity

111,2 k €

-10.8% YoY

What does VS-PROJECTS do?

VS-PROJECTS is a Private limited company incorporated in 2003. Its main activity is: Development of building projects. Its registered office is in Dendermonde.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0479.804.065

Incorporation

19/03/2003

Legal form

Private limited company

Registered office

Theodoor Vermylenstraat (BAA) 2 box 4
9200 Dendermonde · FlandreSee on map

Contributed capital

20 000,00 €

Latest accounts

30/09/2025

Activities (NACE)

41101Development of building projects· main 68121Buying and selling of own real estate 43990Other specialised construction activities n.e.c.43999Other specialised construction activities n.e.c.

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	14,6 k €	-62.1%	38,5 k €	+18.3%	32,6 k €	+118%	14,9 k €	+15.8%	12,9 k €	-9.4%	14,2 k €	-70.5%	48,1 k €	+36.3%	35,3 k €	+17.2%	30,1 k €	+11.8%	27 k €	-47.8%	51,7 k €	+92.0%	26,9 k €	+41.7%	19 k €	-22.8%	24,6 k €	-33.9%	37,2 k €	+44.1%	25,8 k €	-4.9%	27,2 k €	-39.5%	44,9 k €	+96.1%	22,9 k €
EBITDA	13,9 k €	-63.2%	37,8 k €	+19.0%	31,8 k €	+119%	14,5 k €	+19.1%	12,2 k €	-10.0%	13,6 k €	-71.4%	47,5 k €	+39.6%	34 k €	+20.8%	28,2 k €	+22.5%	23 k €	-52.1%	48,1 k €	+86.1%	25,8 k €	+50.0%	17,2 k €	-24.9%	22,9 k €	-36.8%	36,3 k €	+51.5%	24 k €	-8.6%	26,2 k €	-40.5%	44 k €	+186%	15,4 k €
Operating result	12,5 k €	-65.7%	36,4 k €	+19.9%	30,3 k €	+964%	2,9 k €	+443%	525,6 €	-72.2%	1,9 k €	-94.7%	35,5 k €	+130%	15,4 k €	+27.3%	12,1 k €	+74.5%	6,9 k €	-79.4%	33,7 k €	+222%	10,5 k €	+464%	1,9 k €	-88.3%	15,8 k €	+16.1%	13,6 k €	-5.2%	14,4 k €	-12.3%	16,4 k €	-51.4%	33,7 k €	+561%	5,1 k €
Net result	8,1 k €	-65.3%	23,5 k €	+8.8%	21,6 k €	+1036%	1,9 k €	+4520%	41,1 €	-96.8%	1,3 k €	-93.9%	21,5 k €	+255%	6,1 k €	+134%	2,6 k €	+2368%	105,3 €	-99.0%	10,6 k €	+457%	1,9 k €	-79.2%	9,1 k €	+26.8%	7,2 k €	+2321%	297,6 €	-89.4%	2,8 k €	-67.3%	8,6 k €	-69.9%	28,5 k €	+551%	4,4 k €
Balance sheet
Equity	111,2 k €	-10.8%	124,6 k €	+13.6%	109,6 k €	+24.5%	88 k €	+2.2%	86,1 k €	+0.0%	86,1 k €	+1.5%	84,8 k €	+34.1%	63,2 k €	+10.6%	57,2 k €	+4.8%	54,6 k €	+0.2%	54,5 k €	+24.2%	43,8 k €	+4.5%	41,9 k €	+27.9%	32,8 k €	+28.1%	25,6 k €	+1.2%	25,3 k €	+12.5%	22,5 k €	+61.6%	13,9 k €	+196%	-14,6 k €
Total assets	121,9 k €	-15.9%	144,9 k €	+17.1%	123,7 k €	+23.3%	100,4 k €	-6.5%	107,3 k €	-9.5%	118,6 k €	-17.6%	143,9 k €	-51.0%	293,5 k €	+5.6%	278 k €	-10.7%	311,2 k €	-2.4%	318,9 k €	-58.0%	758,3 k €	+163%	288,1 k €	+11.6%	258,2 k €	-6.8%	276,9 k €	-56.6%	638,1 k €	+101%	317,1 k €	+9.2%	290,3 k €	+7.2%	270,7 k €
Cash	67 k €	-31.6%	97,9 k €	+37.8%	71,1 k €	+53.6%	46,2 k €	+2.8%	45 k €	+6.0%	42,4 k €	-29.3%	60 k €	+336%	13,8 k €	+80.2%	7,6 k €	-67.8%	23,7 k €	-0.1%	23,8 k €	-52.4%	49,9 k €	+290%	12,8 k €	-14.7%	15 k €	-61.5%	38,9 k €	+571%	5,8 k €	-43.4%	10,3 k €	-17.4%	12,4 k €	+54.1%	8,1 k €
Debts	10 k €	-48.5%	19,4 k €	+37.2%	14,1 k €	+14.2%	12,4 k €	-41.6%	21,2 k €	-34.7%	32,5 k €	-43.9%	57,9 k €	-74.8%	229,5 k €	+4.3%	220 k €	-14.3%	256,7 k €	-2.9%	264,4 k €	-63.0%	714,2 k €	+191%	245,8 k €	+9.1%	225,4 k €	-10.3%	251,3 k €	-59.0%	612,8 k €	+108%	294,6 k €	+6.6%	276,4 k €	-3.1%	285,3 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 1 active · 3 ended

Active mandates

ERIC VAN STEEN

Director · since 18 mars 2003

Active

Ended mandates

ERIC VAN STEEN

Director · since 18 mars 2023

Ended

ERIC VAN STEEN

Director

Ended

ERIC VAN STEEN

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
JUREL● Active	0426.108.924
Vereniging van mede-eigenaars Residentie Meiregat te Dendermonde (Baasrode), Theodoor Vermylenstraat 2 bus 4● Active	0502.441.489

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	08/04/2026	02/04/2025	20/03/2024	31/03/2023	29/03/2022	06/04/2021
General meeting	13/03/2026	14/03/2025	08/03/2024	10/03/2023	11/03/2022	12/03/2021
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

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Filings

Annual accounts filings

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	30/09/2025	13/03/2026	08/04/2026	Dutch	PDF
Micro model	30/09/2024	14/03/2025	02/04/2025	Dutch	PDF
Micro model	30/09/2023	08/03/2024	20/03/2024	Dutch	PDF
Micro model	30/09/2022	10/03/2023	31/03/2023	Dutch	PDF
Micro model	30/09/2021	11/03/2022	29/03/2022	Dutch	PDF
Micro model	30/09/2020	12/03/2021	06/04/2021	Dutch	PDF
Micro model	30/09/2019	13/03/2020	26/03/2020	Dutch	PDF
Micro model	30/09/2018	08/03/2019	29/03/2019	Dutch	PDF
Micro model	30/09/2017	09/03/2018	06/04/2018	Dutch	PDF
Abridged model	30/09/2016	10/03/2017	31/03/2017	Dutch	PDF
Abridged model	30/09/2015	11/03/2016	07/04/2016	Dutch	PDF
Abridged model	31/12/2013	25/06/2014	24/07/2014	Dutch	PDF
Abridged model	31/12/2012	14/06/2013	02/07/2013	Dutch	PDF
Abridged model	31/12/2011	08/06/2012	28/06/2012	Dutch	PDF
Abridged model	31/12/2010	10/06/2011	29/06/2011	Dutch	PDF
Abridged model	31/12/2009	11/06/2010	06/07/2010	Dutch	PDF
Abridged model	31/12/2008	12/06/2009	19/06/2009	Dutch	PDF
Abridged model	31/12/2007	13/06/2008	09/07/2008	Dutch	PDF
Abridged model	31/12/2006	08/06/2007	27/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 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 30/09/2025 · 1 active · 3 ended

Active mandates

ERIC VAN STEEN

Director · since 18 mars 2003

Active

Ended mandates

ERIC VAN STEEN

Director · since 18 mars 2023

Ended

ERIC VAN STEEN

Director

Ended

ERIC VAN STEEN

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates10/02/2020
WIJZIGING RECHTSVORM - BENAMING - ONTSLAGEN - BENOEMINGEN
PDF
Registered office27/08/2014
MAATSCHAPPELIJKE ZETEL - BOEKJAAR - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office11/08/2006
MAATSCHAPPELIJKE ZETEL
PDF
Other27/03/2003
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 20258,1 k €↓
2025
Name changeVS-PROJECTS
2024
Annual accounts 202423,5 k €↑
2023
Annual accounts 202321,6 k €↑
2022
Annual accounts 20221,9 k €↑
2022
Name changeV.S.-PROJECTS
2021
Annual accounts 202141,1 €↓
2020
Annual accounts 20201,3 k €↓
2019
Annual accounts 201921,5 k €↑
2018
Annual accounts 20186,1 k €↑
2017
Annual accounts 20172,6 k €↑
2016
Annual accounts 2016105,3 €↓
2015
Annual accounts 201510,6 k €↑
2013
Annual accounts 20131,9 k €↓
2012
Annual accounts 20129,1 k €↑
2011
Annual accounts 20117,2 k €↑
2010
Annual accounts 2010297,6 €↓
2009
Annual accounts 20092,8 k €↓
2008
Annual accounts 20088,6 k €↓
2007
Annual accounts 200728,5 k €↑
2006
Annual accounts 20064,4 k €
19/03/2003
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

VS-PROJECTS

Overview

What does VS-PROJECTS 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